Document:

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                                                                   EXHIBIT 10.20

This Instrument Prepared by And
Upon Recordation Return to:

KATTEN MUCHIN ROSENMAN LLP
401 South Tryon Street, Suite 2600
Charlotte, North Carolina 28202
Attention: Daniel S. Huffenus, Esq.

                              NNN SOUTHPOINTE, LLC,
                A DELAWARE LIMITED LIABILITY COMPANY, as assignor
                            (collectively, Borrower)
                                       to
                 LASALLE BANK NATIONAL ASSOCIATION, as assignee
                                    (Lender)

                                   ASSIGNMENT
                               OF LEASES AND RENTS

                             Dated: August 18, 2006

                        Location: 8936 Southpointe Drive
                                  Indianapolis, Indiana

                                  5510 South East Street
                                  Indianapolis, Indiana

                                  1030 East County Line Road
                                  Indianapolis, Indiana

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     THIS ASSIGNMENT OF LEASES AND RENTS ("ASSIGNMENT") made as of the 18th day
of August, 2006, by NNN SOUTHPOINTE, LLC, a Delaware limited liability company
("BORROWER") to LASALLE BANK NATIONAL ASSOCIATION, a national banking
association, having an address at 135 S. LaSalle Street, Suite 3410, Chicago,
Illinois 60603, Attn: Real Estate Capital Markets, its successors and assigns,
as assignee ("LENDER").

                                    RECITALS:

     Borrower by its promissory note of even date herewith given to Lender is
indebted to Lender in the principal sum of Nine Million One Hundred Forty Six
Thousand and No/100ths Dollars ($9,146,000.00) in lawful money of the United
States of America (together with all extensions, renewals, modifications,
substitutions and amendments thereof, the "Note"), with interest from the date
thereof at the rates set forth in the Note, principal and interest to be payable
in accordance with the terms and conditions provided in the Note.

     Borrower desires to secure the payment of the Debt (defined below) and the
performance of all of its obligations under the Note and the other Obligations
as defined in Recital B of the Security Instrument (defined below).

                                    ARTICLE 1

                                   ASSIGNMENT

     Section 1.1 PROPERTY ASSIGNED. Borrower hereby absolutely and
unconditionally assigns and grants to Lender the following property, rights,
interests and estates, now owned, or hereafter acquired by Borrower:

          (a) LEASES. All existing and future leases affecting the use,
     enjoyment, or occupancy of all or any part of that certain lot or piece of
     land, more particularly described in EXHIBIT A annexed hereto and made a
     part hereof, together with the buildings, structures, fixtures, additions,
     enlargements, extensions, modifications, repairs, replacements and
     improvements now or hereafter located thereon (collectively, the
     "PROPERTY") and the right, title and interest of Borrower, its successors
     and assigns, therein and thereunder.

          (b) OTHER LEASES AND AGREEMENTS. All other leases, subleases and other
     agreements, whether or not in writing, affecting the use, enjoyment or
     occupancy of the Property or any portion thereof now or hereafter made,
     whether made before or after the filing by or against Borrower of any
     petition for relief under 11 U.S.C. Section 101 et seq., as the same may be
     amended from time to time (the "BANKRUPTCY CODE") together with any
     extension, renewal or replacement of the same, this Assignment of other
     present and future leases and present and future agreements being effective
     without further or supplemental assignment. The leases described in
     SUBSECTION 1.1(A) and the leases and other agreements described in this
     SUBSECTION 1.1(B), together with all other present and future leases and
     present and future agreements and any extension or renewal of the same are
     collectively referred to as the "LEASES".

<PAGE>

          (c) RENTS. All rents, additional rents, revenues, income, issues and
     profits arising from the Leases and renewals and replacements thereof and
     any cash or security deposited in connection therewith and together with
     all rents, revenues, income, issues and profits from the use, enjoyment and
     occupancy of the Property, and all royalties, overriding royalties,
     bonuses, delay rentals and any other amount of any kind or character
     arising under any and all present and all future oil, gas and mining Leases
     covering the Property or any part thereof, and all proceeds and other
     amounts paid or owing to Borrower under or pursuant to any and all
     contracts and bonds relating to the construction, erection or renovation of
     the Property, whether paid or accruing before or after the filing by or
     against Borrower of any petition for relief under the Bankruptcy Code
     (collectively, the "RENTS").

          (d) BANKRUPTCY CLAIMS. All of Borrower's claims and rights (the
     "BANKRUPTCY CLAIMS") to the payment of damages arising from any rejection
     by a lessee of any Lease under the Bankruptcy Code.

          (e) LEASE GUARANTIES. All of Borrower's right, title and interest in
     and claims under any and all lease guaranties, letters of credit and any
     other credit support given by any guarantor in connection with any of the
     Leases (individually, a "LEASE GUARANTOR", collectively, the "LEASE
     GUARANTORS") to Borrower (individually, a "LEASE GUARANTY", collectively,
     the "LEASE GUARANTIES").

          (f) PROCEEDS. All proceeds from the sale or other disposition of the
     Leases, the Rents, the Lease Guaranties and the Bankruptcy Claims
     (collectively, "PROCEEDS").

          (g) OTHER. All rights, powers, privileges, options and other benefits
     of Borrower as lessor under the Leases and beneficiary under the Lease
     Guaranties, including without limitation, the immediate and continuing
     right to make claim for, receive, collect and receipt for, all Rents
     payable or receivable under the Leases and all sums payable under the Lease
     Guaranties or pursuant thereto (and to apply the same to the payment of the
     Debt or the Other Obligations), and to do all other things which Borrower
     or any lessor is or may become entitled to do under the Leases or the Lease
     Guaranties (collectively, "OTHER RIGHTS").

          (h) ENTRY. The right, at Lender's option, upon revocation of the
     license granted herein, to enter upon the Property in person, by agent or
     by court-appointed receiver, to collect the Rents.

          (i) POWER OF ATTORNEY. Borrower's irrevocable power of attorney,
     coupled with an interest, to take any and all of the actions set forth in
     SECTION 3.1 of this Assignment and any or all other actions designated by
     Lender for the proper management and preservation of the Property.

          (j) OTHER RIGHTS AND AGREEMENTS. Any and all other rights of Borrower
     in and to the items set forth in SUBSECTIONS (A) THROUGH (I) above, and all
     amendments, modifications, replacements, renewals and substitutions
     thereof.

<PAGE>

     Section 1.2 CONSIDERATION. This Assignment is made in consideration of that
certain loan made by Lender to Borrower evidenced by the Note and secured by
that certain Mortgage, Security Agreement and Fixture Filing, given by Borrower
to or for the benefit of Lender, dated the date hereof, covering the Property
and intended to be duly recorded (the "SECURITY INSTRUMENT"). The principal sum,
interest and all other sums due and payable under the Note, the Security
Instrument, this Assignment and the Other Security Documents (defined below) are
collectively referred to as the "DEBT". The documents other than this
Assignment, the Note or the Security Instrument now or hereafter executed by
Borrower and/or others and by or in favor of Lender which wholly or partially
secure or guarantee payment of the Debt are referred to herein as the "OTHER
SECURITY DOCUMENTS".

     Section 1.3 TERMINATION OF ASSIGNMENT. Upon payment in full of the Debt,
this Assignment shall become null and void and shall be of no further force and
effect.

                                    ARTICLE 2

                               TERMS OF ASSIGNMENT

     Section 2.1 PRESENT ASSIGNMENT AND LICENSE BACK. The parties intend that
this Assignment grants a present, absolute, and unconditional assignment of the
Leases, Rents, Lease Guaranties and Bankruptcy Claims, Proceeds, and Other
Rights and shall, immediately upon execution, give Lender the right to collect
the Rents and other sums due under the Lease Guaranties and to apply them in
payment of the Debt. Such assignment and grant shall continue in effect until
the Debt is paid in full and all of the Other Obligations are fully satisfied.
Subject to the provisions set forth herein and provided there is no Default (as
defined below), Lender grants to Borrower a revocable license to enforce the
Leases and collect the Rents as they become due (excluding, however, any Lease
termination, cancellation or similar payments which Borrower agrees shall be
delivered to Lender and held in the TI and Leasing Reserve (as defined in the
Security Instrument)), and Borrower shall hold the same, in trust, to be applied
first to the payment of all impositions, levies, taxes, assessments and other
charges upon the Property, second to maintenance of insurance policies upon the
Property required hereby, third to the expenses of Property operations,
including maintenance and repairs required hereby, fourth to the payment of that
portion of the Indebtedness then due and payable, and fifth, the balance, if
any, to or as directed by Borrower. Borrower shall deliver such Rents to Lender
as are necessary for the payment of principal, interest and other sums payable
under the Loan Documents (as defined in the Security Instrument) as such sums
become due.

     Borrower shall comply with and observe Borrower's obligations as landlord
under all Leases. Borrower will not lease any portion of the Property for use
which is not consistent with the permitted use of the Property, except with the
prior written approval of Lender. Borrower, at Lender's request, shall furnish
Lender with executed copies of all Leases, and all Leases and amendments thereto
hereafter entered into will be on a form of Lease previously approved by Lender.
All renewals of Leases and all proposed Leases for space in the Property shall
provide for rental rates comparable to existing local market rates and shall be
arms-length transactions.

     Section 2.2 NOTICE TO LESSEES. Borrower hereby agrees to authorize and
direct the lessees named in the Leases or any other or future lessees or
occupants of the Property and all

<PAGE>

Lease Guarantors to pay over to Lender or to such other party as Lender directs
all Rents and all sums due under any Lease Guaranties upon receipt from Lender
of written notice to the effect that Lender is then the holder of the Security
Instrument and that a Default exists, and to continue so to do until otherwise
notified by Lender.

     Section 2.3 INCORPORATION BY REFERENCE. All representations, warranties,
covenants, conditions and agreements contained in the Security Instrument as
same may be modified, renewed, substituted or extended are hereby made a part of
this Assignment to the same extent and with the same force as if fully set forth
herein.

                                    ARTICLE 3

                                    REMEDIES

     Section 3.1 REMEDIES OF LENDER. Upon and during the continuance of an Event
of Default (as defined in the Security Instrument) (sometimes referred to herein
as a "Default"), the license granted to Borrower in Section 2.1 of this
Assignment shall automatically be revoked, and Lender shall immediately be
entitled to possession of all Rents and sums due under any Lease Guaranties,
whether or not Lender enters upon or takes control of the Property. In addition,
Lender may, at its option, without waiving such Default, without notice and
without regard to the adequacy of the security for the Debt, either in person or
by agent, nominee or attorney, with or without bringing any action or
proceeding, or by a receiver appointed by a court (which such appointment of
receiver shall, upon application to a court of competent jurisdiction, be a
matter of strict right, without notice), dispossess Borrower and its agents and
servants from the Property, without liability for trespass, damages or otherwise
and exclude Borrower and its agents wholly therefrom, and take possession of the
Property and all books, records and accounts relating thereto and have, hold,
manage, lease and operate the Property on such terms and for such period of time
as Lender may deem proper and either with or without taking possession of the
Property in its own name, demand, sue for or otherwise collect and receive all
Rents and sums due under all Lease Guaranties, including those past due and
unpaid with full power to make from time to time all alterations, renovations,
repairs or replacements thereto or thereof as may seem proper to Lender and may
apply the Rents and sums received pursuant to any Lease Guaranties to the
payment of the following in such order and proportion as Lender in its sole
discretion may determine, any law, custom or use to the contrary
notwithstanding: (a) all expenses of managing and securing the Property,
including, without being limited thereto, the salaries, fees and wages of a
managing agent and such other employees or agents as Lender may deem necessary
or desirable and all expenses of operating and maintaining the Property,
including, without being limited thereto, all taxes, charges, claims,
assessments, water charges, sewer rents and any other liens, and premiums for
all insurance which Lender may deem necessary or desirable, and the cost of all
alterations, renovations, repairs or replacements, and all expenses incident to
taking and retaining possession of the Property; (b) payment of all expenses for
normal maintenance of the Property, and (c) the Debt, together with all costs
and reasonable attorneys' fees. In addition, upon the occurrence of a Default,
Lender, at its option, may (1) complete any construction on the Property in such
manner and form as Lender deems advisable, (2) exercise all rights and powers of
Borrower, including, without limitation, the right to negotiate, execute,
cancel, enforce or modify Leases, obtain and evict tenants, and demand, sue for,
collect and receive all Rents from the Property and all sums due under any Lease

<PAGE>

Guaranties, (3) either require Borrower to pay monthly in advance to Lender or
any receiver appointed to collect the Rents, the fair and reasonable rental
value for the use and occupancy of such part of the Property as may be in
possession of Borrower or (4) require Borrower to vacate and surrender
possession of the Property to Lender or to such receiver and, in default
thereof, Borrower may be evicted by summary proceedings or otherwise.

     Section 3.2 OTHER REMEDIES. Nothing contained in this Assignment and no act
done or omitted by Lender pursuant to the power and rights granted to Lender
hereunder shall be deemed to be a waiver by Lender of its rights and remedies
under the Note, the Security Instrument, or the Other Security Documents and
this Assignment is made and accepted without prejudice to any of the rights and
remedies possessed by Lender under the terms thereof. The right of Lender to
collect the Debt and to enforce any other security therefor held by it may be
exercised by Lender either prior to, simultaneously with, or subsequent to any
action taken by it hereunder. Borrower hereby absolutely, unconditionally and
irrevocably waives any and all rights to assert any setoff, counterclaim or
crossclaim of any nature whatsoever with respect to the obligations of Borrower
under this Assignment, the Note, the Security Instrument, the Other Security
Documents or otherwise with respect to the loan secured hereby in any action or
proceeding brought by Lender to collect same, or any portion thereof, or to
enforce and realize upon the lien and security interest created by this
Assignment, the Note, the Security Instrument, or any of the Other Security
Documents (provided, however, that the foregoing shall not be deemed a waiver of
Borrower's right to assert any compulsory counterclaim if such counterclaim is
compelled under local law or rule of procedure, nor shall the foregoing be
deemed a waiver of Borrower's right to assert any claim which would constitute a
defense, setoff, counterclaim or crossclaim of any nature whatsoever against
Lender in any separate action or proceeding).

     Section 3.3 OTHER SECURITY. Subject to PARAGRAPH 3 of the Note, Lender may
take or release other security for the payment of the Debt, may release any
party primarily or secondarily liable therefor and may apply any other security
held by it to the reduction or satisfaction of the Debt without prejudice to any
of its rights under this Assignment.

     Section 3.4 NON-WAIVER. The exercise by Lender of the option granted it in
SECTION 3.1 of this Assignment and the collection of the Rents and sums due
under the Lease Guaranties and the application thereof as herein provided shall
not be considered a waiver of any default by Borrower under the Note, the
Security Instrument, the Leases, this Assignment or the Other Security
Documents. The failure of Lender to insist upon strict performance of any term
hereof shall not be deemed to be a waiver of any term of this Assignment.
Borrower shall not be relieved of Borrower's obligations hereunder by reason of
(a) the failure of Lender to comply with any request of Borrower or any other
party to take any action to enforce any of the provisions hereof or of the
Security Instrument, the Note or the Other Security Documents, (b) the release
regardless of consideration, of the whole or any part of the Property, or (c)
any agreement or stipulation by Lender extending the time of payment or
otherwise modifying or supplementing the terms of this Assignment, the Note, the
Security Instrument or the Other Security Documents. Lender may resort for the
payment of the Debt to any other security held by Lender in such order and
manner as Lender, in its discretion, may elect. Lender may take any action to
recover the Debt, or any portion thereof, or to enforce any covenant hereof
without prejudice to the right of Lender thereafter to enforce its rights under
this Assignment. The rights of Lender under this Assignment shall be separate,
distinct and cumulative and none shall be

<PAGE>

given effect to the exclusion of the others. No act of Lender shall be construed
as an election to proceed under any one provision herein to the exclusion of any
other provision.

     Section 3.5 BANKRUPTCY.

          (a) Upon or during the continuation of a Default, Lender shall have
     the right to proceed in its own name or in the name of Borrower in respect
     of any claim, suit, action or proceeding relating to the rejection of any
     Lease, including, without limitation, the right to file and prosecute, to
     the exclusion of Borrower, any proofs of claim, complaints, motions,
     applications, notices and other documents, in any case in respect of the
     lessee under such Lease under the Bankruptcy Code.

          (b) If there shall be filed by or against Borrower a petition under
     the Bankruptcy Code, and Borrower, as lessor under any Lease, shall
     determine to reject such Lease pursuant to Section 365(a) of the Bankruptcy
     Code, then Borrower shall give Lender not less than ten (10) days' prior
     notice of the date on which Borrower shall apply to the bankruptcy court
     for authority to reject the Lease. Lender shall have the right, but not the
     obligation, to serve upon Borrower within such ten (10) day period a notice
     stating that (i) Lender demands that Borrower assume and assign the Lease
     to Lender pursuant to Section 365 of the Bankruptcy Code and (ii) Lender
     covenants to cure or provide adequate assurance of future performance under
     the Lease. If Lender serves upon Borrower the notice described in the
     preceding sentence, Borrower shall not seek to reject the Lease and shall
     comply with the demand provided for in clause (i) of the preceding sentence
     within thirty (30) days after the notice shall have been given, subject to
     the performance by Lender of the covenant provided for in clause (ii) of
     the preceding sentence.

     Section 3.6 SECURITY DEPOSITS. All security deposits of lessees, whether
held in cash or any other form, shall be treated by Borrower as trust funds,
shall not be commingled with any other funds of Borrower and, if cash, shall be
deposited by Borrower in one or more segregated accounts at such commercial or
savings bank or banks as is reasonably satisfactory to Lender. Any bond or other
instrument which Borrower is permitted to hold in lieu of cash security deposits
under applicable legal requirements (a) shall be maintained in full force and
effect unless replaced by cash deposits as hereinabove described, (b) shall be
issued by an entity reasonably satisfactory to Lender, (c) shall, if permitted
pursuant to legal requirements, name Lender as payee or beneficiary thereunder
(or at Lender's option, subject to applicable Borrower requirements, be fully
assignable to Lender), and (d) shall, in all respects, comply with applicable
legal requirements and otherwise be reasonably satisfactory to Lender. Borrower
shall, upon request, provide Lender with evidence reasonably satisfactory to
Lender of Borrower's compliance with the foregoing. Following the occurrence and
during the continuance of any Default, Borrower shall, upon Lender's request, if
permitted by applicable legal requirements, turn over to Lender the security
deposits (and any interest theretofore earned thereon) with respect to all or
any portion of the Property, to be held by Lender subject to the terms of the
Leases.

<PAGE>

                                    ARTICLE 4

                        NO LIABILITY, FURTHER ASSURANCES

     Section 4.1 NO LIABILITY OF LENDER. This Assignment shall not be construed
to bind Lender to the performance of any of the covenants, conditions or
provisions contained in any Lease or Lease Guaranty or otherwise impose any
obligation upon Lender. Lender shall not be liable for any loss sustained by
Borrower resulting from Lender's failure to let the Property after a Default or
from any other act or omission of Lender in managing the Property after a
Default unless such loss is caused by the gross negligence, willful misconduct
and bad faith of Lender. Lender shall not be obligated to perform or discharge
any obligation, duty or liability under the Leases or any Lease Guaranties or
under or by reason of this Assignment and Borrower shall, and hereby agrees, to
indemnify, defend and hold Lender harmless from, any and all liability, loss or
damage which may or might be incurred under the Leases, any Lease Guaranties
under or by reason of this Assignment and from any and all claims and demands
whatsoever, including the defense of any such claims or demands which may be
asserted against Lender by reason of any alleged obligations and undertakings on
its part to perform or discharge any of the terms, covenants or agreements
contained in the Leases or any Lease Guaranties. Should Lender incur any such
liability, the amount thereof, including costs, expenses and reasonable
attorneys' fees, shall be secured by this Assignment and by the Security
Instrument and the Other Security Documents and Borrower shall reimburse Lender
therefor immediately upon demand and upon the failure of Borrower so to do
Lender may, at its option, declare all sums secured by this Assignment and by
the Security Instrument and the Other Security Documents immediately due and
payable. This Assignment shall not operate to place any obligation or liability
for the control, care, management or repair of the Property upon Lender, nor for
the carrying out of any of the terms and conditions of the Leases or any Lease
Guaranties; nor shall it operate to make Lender responsible or liable for any
waste committed on the Property by the tenants or any other parties, or for any
dangerous or defective condition of the Property, including without limitation
the presence of any Hazardous Substances (as defined in the Security
Instrument), or for any negligence in the management, upkeep, repair or control
of the Property resulting in loss or injury or death to any tenant, licensee,
employee or stranger.

     Section 4.2 NO MORTGAGEE IN POSSESSION. Nothing herein contained shall be
construed to consider Lender a mortgagee in possession in the absence of the
taking of actual possession of the Property by Lender. In the exercise of the
powers herein granted Lender, no liability shall be asserted or enforced against
Lender, all such liability being expressly waived and released by Borrower.

     Section 4.3 FURTHER ASSURANCES. Borrower will, at the cost of Borrower, and
without expense to Lender, execute, acknowledge and deliver all and every such
further acts, conveyances, assignment, notices of assignments, transfers and
assurances as Lender shall, from time to time, require for the better assuring,
conveying, assigning, transferring and confirming unto Lender the property and
rights hereby assigned or intended now or hereafter so to be, or which Borrower
may be or may hereafter become bound to convey or assign to Lender, or for
carrying out the intention or facilitating the performance of the terms of this
Assignment or for filing, registering or recording this Assignment and, on
demand, will execute and deliver and hereby authorizes Lender to execute in the
name of Borrower to the extent Lender may lawfully

<PAGE>

do so, one or more financing statements, chattel mortgages or comparable
security instruments, to evidence more effectively the lien and security
interest hereof in and upon the Leases.

                                    ARTICLE 5

                            MISCELLANEOUS PROVISIONS

     Section 5.1 CONFLICT OF TERMS. In case of any conflict between the terms of
this Assignment and the terms of the Security Instrument, the terms of the
Security Instrument shall prevail.

     Section 5.2 NO ORAL CHANGE. This Assignment and any provisions hereof may
not be modified, amended, waived, extended, changed, discharged or terminated
orally, or by any act or failure to act on the part of Borrower or Lender, but
only by an agreement in writing signed by the party against whom the enforcement
of any modification, amendment, waiver, extension, change, discharge or
termination is sought.

     Section 5.3 CERTAIN DEFINITIONS. Unless the context clearly indicates a
contrary intent or unless otherwise specifically provided herein, words used in
this Assignment may be used interchangeably in singular or plural form and the
word "Borrower" shall mean "each Borrower and any subsequent owner or owners of
the Property or any part thereof or interest therein", the word "Lender" shall
mean "Lender and any subsequent holder of the Note," the word "Note" shall mean
"the Note and any other evidence of indebtedness secured by the Security
Instrument," the word "person" shall include an individual, corporation,
partnership, limited liability company, trust, unincorporated association,
government, governmental authority, and any other entity, the word "Property"
shall include any portion of the Property and any interest therein, the phrases
"attorneys' fees" and "counsel fees" shall include any and all reasonable
attorneys and paralegal fees and disbursements, and the word "Debt" shall mean
the principal balance of the Note with interest thereon as provided in the Note
and the Security Instrument and all other sums due pursuant to the Note, the
Security Instrument, this Assignment and the Other Security Documents; whenever
the context may require, any pronouns used herein shall include the
corresponding masculine, feminine or neuter forms, and the singular form of
nouns and pronouns shall include the plural and vice versa.

     Section 5.4 AUTHORITY. Borrower represents and warrants that it has full
power and authority to execute and deliver this Assignment and the execution and
delivery of this Assignment has been duly authorized and does not conflict with
or constitute a default under any law, judicial order or other agreement
affecting Borrower or the Property.

     Section 5.5 INAPPLICABLE PROVISIONS. If any term, covenant or condition of
this Assignment is held to be invalid, illegal or unenforceable in any respect,
this Assignment shall be construed without such provision.

     Section 5.6 COUNTERPARTS. This Assignment may be executed in several
counterparts, each of which counterparts shall be deemed an original instrument
and all of which together shall constitute a single Assignment.

<PAGE>

     Section 5.7 CHOICE OF LAW. THIS ASSIGNMENT SHALL BE GOVERNED, CONSTRUED,
APPLIED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS,
WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES, PROVIDED, HOWEVER, THAT TO THE
EXTENT THE MANDATORY PROVISIONS OF THE LAWS OF ANOTHER JURISDICTION RELATING TO
(I) THE PERFECTION OR THE EFFECT OF PERFECTION OR NON-PERFECTION OF THE SECURITY
INTERESTS IN ANY OF THE PROPERTY, (II) THE LIEN, ENCUMBRANCE OR OTHER INTEREST
IN THE PROPERTY GRANTED OR CONVEYED BY THIS ASSIGNMENT, OR (III) THE
AVAILABILITY OF AND PROCEDURES RELATING TO ANY REMEDY HEREUNDER OR RELATED TO
THIS ASSIGNMENT ARE REQUIRED TO BE GOVERNED BY SUCH OTHER JURISDICTION'S LAWS,
SUCH OTHER LAWS SHALL BE DEEMED TO GOVERN AND CONTROL.

     Section 5.8 NOTICES. All notices required or permitted hereunder shall be
given as provided in the Security Instrument.

     Section 5.9 WAIVER OF TRIAL BY JURY. BORROWER HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM, WHETHER IN CONTRACT, TORT OR OTHERWISE, RELATING DIRECTLY OR
INDIRECTLY TO THE LOAN EVIDENCED BY THE NOTE, THE APPLICATION FOR THE LOAN
EVIDENCED BY THE NOTE, THIS ASSIGNMENT, THE NOTE, THE SECURITY INSTRUMENT OR THE
OTHER SECURITY DOCUMENTS OR ANY ACTS OR OMISSIONS OF LENDER, ITS OFFICERS,
EMPLOYEES, DIRECTORS OR AGENTS IN CONNECTION THEREWITH. THIS WAIVER IS
KNOWINGLY, INTENTIONALLY AND VOLUNTARILY MADE BY BORROWER AND BORROWER
ACKNOWLEDGES THAT NO PERSON ACTING ON BEHALF OF LENDER HAS MADE ANY
REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO
MODIFY OR NULLIFY ITS EFFECT. BORROWER FURTHER ACKNOWLEDGES THAT IT HAS BEEN
REPRESENTED (OR HAS HAD THE OPPORTUNITY TO BE REPRESENTED) IN CONNECTION WITH
THIS ASSIGNMENT AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL,
SELECTED OF ITS OWN FREE WILL, AND IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS
WAIVER WITH COUNSEL.

     Section 5.10 LIABILITY. If Borrower consists of more than one person, the
obligations and liabilities of each such person hereunder shall be joint and
several. This Assignment shall be binding upon and inure to the benefit of
Borrower and Lender and their respective successors and assigns forever.

     Section 5.11 HEADINGS, ETC. The headings and captions of various paragraphs
of this Assignment are for convenience of reference only and are not to be
construed as defining or limiting, in any way, the scope or intent of the
provisions hereof.

<PAGE>

     Section 5.12 NUMBER AND GENDER. Whenever the context may require, any
pronouns used herein shall include the corresponding masculine, feminine or
neuter forms, and the singular form of nouns and pronouns shall include the
plural and vice versa.

     Section 5.13 COSTS AND EXPENSES OF BORROWER. Wherever pursuant to this
Assignment it is provided that Borrower pay any costs and expenses, such costs
and expenses shall include, but not be limited to, reasonable legal fees and
disbursements of Lender, whether with respect to retained firms, the
reimbursement of the reasonable expenses for in-house staff or otherwise.

     Section 5.14 SUCCESSORS AND ASSIGNS. Borrower may not assign its rights
under this Assignment. Borrower hereby acknowledges and agrees that Lender may
assign this Assignment without Borrower's consent. Subject to the foregoing,
this Assignment shall be binding upon, and shall inure to the benefit of,
Borrower and Lender and their respective successors and assigns and any
subsequent owner of the Property.

                         [THE REMAINDER OF THIS PAGE IS
                            INTENTIONALLY LEFT BLANK]

<PAGE>

     IN WITNESS WHEREOF, Borrower has executed this instrument as of the day and
year first above written.

                                        BORROWER:

                                        NNN Southpointe, LLC, a Delaware limited
                                        liability company

                                        By: Triple Net Properties, LLC, a
                                            Virginia limited liability company,
                                            its manager

                                        By: /s/ Louis Rogers
                                            ------------------------------------
                                        Name: Louis Rogers
                                        Its: President

                                       B-1

<PAGE>

STATE OF CALIFORNIA   )
                      )SS.
COUNTY OF ORANGE      )

     On August 9, 2006, before me, J. Hu, Notary Public
                                   (Name, Title of Officer,e.g., "Jane Doe,
                                   Notary Public")
personally appeared Louis Rogers
                    Name(s) of Signer(s))

     [X]  personally known to me - OR -

     [ ]  proved to me on the basis of satisfactory evidence

to be the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity/ies, and that by his/her/their signature(s) on the
instrument the person(s), or the entity upon behalf of which person(s) acted,
executed the instrument.

     Witness my hand and official seal.

                                        /s/ J. Hu
                                        ----------------------------------------
                                        (Signature of Notary)

(SEAL)

My Commission expires:
September 30, 2009

                                       B-2<PAGE>

                                                                   EXHIBIT 10.21

                 HAZARDOUS SUBSTANCES INDEMNIFICATION AGREEMENT

     THIS HAZARDOUS SUBSTANCES INDEMNIFICATION AGREEMENT (this "AGREEMENT") is
made as of August 18, 2006 by NNN SOUTHPOINTE, LLC, a Delaware limited liability
company ("BORROWER") and TRIPLE NET PROPERTIES, LLC, a Virginia limited
liability company (said individuals or entities are hereinafter referred to
jointly as "GUARANTORS") (Borrower and the Guarantors are hereinafter
collectively referred to as the "INDEMNITORS") to and for the benefit of LASALLE
BANK NATIONAL ASSOCIATION, a national banking association, its successors and
assigns ("LENDER").

                                    RECITALS:

     A. Lender has agreed to loan to Borrower the principal amount of
$9,146,000.00 (the "LOAN"). The Loan shall be evidenced by a certain Promissory
Note of even date herewith (the "NOTE"), and shall be secured by, among other
things, that certain Guaranty of even date herewith) (the "GUARANTY") made by
the Guarantors.

     B. A condition precedent to Lender's extension of the Loan to Borrower is
the execution and delivery of this Agreement by Indemnitors.

     C. Subsequent to the closing of the Loan, subject to the terms of Paragraph
15 of the Security Instrument (hereinafter defined), Borrower may transfer
undivided tenant in common interests in the Property (provided, however, there
may be no more than thirty-five (35) tenants in common in the aggregate),
including Borrower, with the consent of Lender, as more specifically set forth
in one or more Loan Assumption, Ratification and Consent Agreement(s) by and
between Borrower, Guarantor, the tenant(s) in common and Lender executed
concurrently herewith or subsequently hereafter.

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each Indemnitor hereby jointly and
severally agrees as follows:

                                    ARTICLE I
                                   DEFINITIONS

     Section 1.1. DEFINITIONS. As used herein, the following terms shall have
the following meanings:

          "ASBESTOS": Asbestos or any substance containing asbestos.

          "ENVIRONMENTAL LAW": Any present or future federal, state and/or local
     law, statute, ordinance, code, rule, regulation, license, authorization,
     decision, order, injunction or decree and/or other governmental directive
     or requirement, as well as common law, which pertains or relates to health,
     safety or the environment (including but not limited to, ground or air or
     water or noise pollution or contamination, and underground or aboveground
     tanks) and shall include, without limitation, the Comprehensive
     Environmental Response, Compensation and Liability Act of 1980, as

<PAGE>

     amended ("CERCLA"), the Resource Conservation and Recovery Act of 1976, as
     amended ("RCRA"), and any state or federal lien or superlien or
     environmental clean-up statutes, and regulations, rules, guidelines, or
     standards promulgated pursuant thereto all as amended from time to time.

          "ENVIRONMENTAL REPORT": The environmental report dated May 26, 2006
     prepared by LandAmerica Commercial Services, a true, correct and complete
     copy of which has been delivered to Lender.

          "HAZARDOUS SUBSTANCE": Any substance, whether solid, liquid or
     gaseous: (i) which is listed, defined or regulated as a "hazardous
     substance," "hazardous waste" or "solid waste," or otherwise classified as
     hazardous or toxic, in or pursuant to any Environmental Law; or (ii) which
     is or contains Asbestos, radon, any polychlorinated biphenyl, urea
     formaldehyde foam insulation, explosive or radioactive material, lead
     paint, microbial matter, biological toxins, mold or mold spores, or motor
     fuel or other petroleum hydrocarbons; or (iii) which causes or poses a
     threat to cause a contamination or nuisance on the Property or any adjacent
     property or a hazard to the environment or to the health or safety of
     persons on or about the Property.

          "RELEASE": Includes, but is not limited to, any release, deposit,
     discharge, emission, leaking, spilling, seeping, migrating, injecting,
     pumping, pouring, emptying, escaping, dumping, disposing or other movement
     of Hazardous Substances.

          "REMEDIATION": Any investigation, site monitoring, containment,
     cleanup, removal, restoration, or other activity of any kind which are
     reasonably necessary or desirable under an applicable Environmental Law.

          "SECURITY INSTRUMENT": That certain Mortgage, Security Agreement and
     Fixture Filing, of even date herewith, executed by Borrower for the benefit
     of Lender, covering the Property more particularly described therein,
     including the real property or interest therein described in EXHIBIT A
     attached hereto and incorporated herein by this reference.

          "STORAGE TANKS": Any underground or aboveground storage tanks, whether
     full, empty, or partially full with any substance.

     Section 1.2. OTHER DEFINED TERMS. Any capitalized term utilized herein
shall have the meaning as specified in the Security Instrument, unless such term
is otherwise specifically defined herein.

                                   ARTICLE II
                         WARRANTIES AND REPRESENTATIONS

     Indemnitors hereby represent and warrant to Lender, to the best of
Indemnitors' knowledge, after due inquiry and investigation, which was limited
to providing Lender the Environmental Report and any other reasonable
investigation as set forth in SECTION 2.5 below, as follows:

                                       2

<PAGE>

     Section 2.1. PROPERTY COMPLIANCE. The Property and the operations conducted
thereon do not violate any Environmental Laws.

     Section 2.2. NO VIOLATIONS. Without limitation to SECTION 2.1 above, except
as previously disclosed in writing to Lender, the Property and operations
conducted thereon by the current owner or operator of the Property, are not the
subject of any existing, pending, or threatened action, suit, investigation,
inquiry, or proceeding by any governmental or nongovernmental entity or person
or to any Remediation under any Environmental Law.

     Section 2.3. AUTHORIZATIONS. All notices, permits, licenses, registrations,
or similar authorizations, if any, required to be obtained or filed in
connection with the ownership, operation, or use of the Property, including,
without limitation, the existence of any Storage Tanks at the Property or the
past or present generation, treatment, storage, disposal, or release of a
Hazardous Substance into the environment, have been duly obtained or filed and
have been duly renewed or maintained.

     Section 2.4. HAZARDOUS SUBSTANCE. The Property does not contain any
Hazardous Substance in violation of applicable Environmental Laws or that does
or could present a threat to human health and safety. Except as disclosed in
writing to Lender, the Property does not contain any Storage Tanks or Asbestos
and the Property is not listed by any governmental agency as containing any
Hazardous Substance.

     Section 2.5. INDEMNITORS INVESTIGATION. Indemnitors have taken commercially
reasonable steps necessary to determine, and have determined, that no Hazardous
Substances are, have been or threatened to be generated, treated, stored, used,
disposed of or released on, under, from, or about the Property except in
compliance with applicable Environmental Laws and/or as could not be anticipated
to result in a nuisance condition or threat to human health and safety.

     Section 2.6. INDEMNITORS COMPLIANCE. Indemnitors have not undertaken,
permitted, authorized, or suffered and will not undertake, permit, authorize, or
suffer the presence, use, manufacture, handling, generation, transportation,
storage, treatment, discharge, release, burial, or disposal on, under, from or
about the Property of any Hazardous Substance or the transportation to or from
the Property of any Hazardous Substance except in compliance with applicable
Environmental Laws and/or as could not be anticipated to result in a nuisance
condition or threat to human health and safety.

     Section 2.7. NO PENDING LITIGATION. Except as otherwise previously
disclosed to Lender in writing, there is no pending or threatened litigation,
proceedings, or investigations before or by any administrative agency in which
any person or entity alleges or is investigating any alleged presence, release,
threat of release, placement on, under, from or about the Property, or the
manufacture, handling, generation, transportation, storage, treatment,
discharge, burial, or disposal on, under, from or about the Property, or the
transportation to or from the Property, of any Hazardous Substance.

     Section 2.8. NO NOTICES. Except as otherwise previously disclosed to Lender
in writing, Indemnitors have not received any notice, and have no actual or
constructive knowledge, that any governmental authority or any employee or agent
thereof has determined, or threatens to

                                       3

<PAGE>

determine, or is investigating any allegation that there is a presence, release,
threat of release, placement on, under, from or about the Property, or the use,
manufacture, handling, generation, transportation, storage, treatment,
discharge, burial, or disposal on, under, from or about the Property, or the
transportation to or from the Property, of any Hazardous Substance.

     Section 2.9. NO COMMUNICATIONS. Except as otherwise previously disclosed to
Lender in writing, there have been no communications or agreements with any
governmental authority thereof or any private entity, including, but not limited
to, any prior owners or operators of the Property, relating in any way to the
presence, release, threat of release, placement on, under or about the Property,
or the use, manufacture, handling, generation, transportation, storage,
treatment, discharge, burial, or disposal on, under or about the Property, or
the transportation to or from the Property, of any Hazardous Substance, except
for communications made in the ordinary course of business in connection with
permits, reports, and routine inspections issued, prepared or conducted by
government agencies or authorities having jurisdiction over the Property.

     Section 2.10. OTHER PROPERTIES. Neither Indemnitors, nor, to the best
knowledge of Indemnitors, any other person, including, but not limited to, any
predecessor owner, tenant, licensee, occupant, user, or operator of all or any
portion of the Property, has ever caused, permitted, authorized or suffered, and
Indemnitors will not cause, permit, authorize, or suffer, any Hazardous
Substance to be placed, held, located, or disposed of, on, under or about any
other real property, all or any portion of which is legally or beneficially
owned (or any interest or estate therein which is owned) by Indemnitors in any
jurisdiction now or hereafter having in effect a so-called "superlien" law or
ordinance or any part thereof, the effect of which law or ordinance would be to
create a lien on the Property to secure any obligation in connection with the
"superlien" law of such other jurisdiction.

     Section 2.11. PERMITS. Borrower has been issued all required federal,
state, and local licenses, certificates, or permits relating to, and Borrower
and the Property are in compliance in all respects with all applicable
Environmental Laws, including but not limited to, federal, state, and local
laws, rules, and regulations relating to, air emissions, water discharge, noise
emissions, solid or liquid waste disposal, hazardous waste or materials, or
other environmental, health, or safety matters.

     Section 2.12. RELEASE TO PROPERTY. There is no threat of any Release of any
Hazardous Substance migrating to the Property except as described in the
Environmental Report.

     Section 2.13. ALL INFORMATION. Indemnitors have truthfully and fully
provided to Lender, in writing, any and all information relating to
environmental conditions in, on, under or from the Property known to Indemnitors
or contained in Indemnitors' files and records, including but not limited to any
reports relating to any Hazardous Substance in, on, under or migrating to or
from the Property and/or to the environmental condition of the Property.

                                       4

<PAGE>

                                  ARTICLE III
                              AFFIRMATIVE COVENANTS

     Indemnitors hereby unconditionally covenant and agree with Lender, until
the entire Loan (as defined in the Note) shall have been paid in full and all of
the obligations of Borrower under the Loan Documents shall have been fully
performed and discharged, as follows:

     Section 3.1. OPERATIONS. Borrower shall not use, generate, manufacture,
produce, store, release, discharge, treat, or dispose of on, under, from or
about the Property or transport to or from the Property any Hazardous Substance
or allow any other person or entity to do so except in compliance with
Environmental Laws. Borrower shall not install or permit to be installed any
Asbestos or Storage Tanks at the Property and shall remedy all violations of
Environmental Laws with respect thereto including, but not limited to, removal
of Asbestos and/or Storage Tanks in the manner and as required by applicable
Environmental Laws.

     Section 3.2. COMPLIANCE. Borrower shall keep and maintain the Property in
compliance with, and shall not cause or permit the Property to be in violation
of, any Environmental Law and upon discovery of any noncompliance shall promptly
take corrective action to remedy such noncompliance.

     Section 3.3. MONITORING. Borrower shall establish and maintain, at
Borrower's sole expense, a system to assure and monitor continued compliance
with Environmental Laws, the existence of any Storage Tank on the Property and
the presence of Hazardous Substances on the Property, by any and all owners or
operators of the Property, which system shall include, upon request of Lender,
the execution and delivery to Lender of a certain Annual Environmental
Questionnaire in the form attached hereto as EXHIBIT B by a duly authorized
officer, partner, or manager, as applicable, of Borrower who is familiar with
the Property and the requirements of applicable Environmental Law, and, at the
request of Lender (which request shall not be made by Lender unless (a) an Event
of Default shall have occurred, (b) a material adverse change shall have
occurred in the financial condition of the Borrower or the Property as
determined by Lender, or (c) facts or circumstances as determined by Lender
occur or arise, including any change of tenants, which could result in an
increased risk that Hazardous Substances will be present (or present in greater
quantities) or discharged at the Property or that the Environmental Laws will
not be complied with) no more than once each year, a detailed review of such
compliance of the environmental condition of the Property ("ENVIRONMENTAL
COMPLIANCE REPORT") in scope satisfactory to Lender by an environmental
consulting firm approved in advance by Lender; provided, however, that if any
Environmental Compliance Report indicates a violation of any Environmental Law
or a need for Remediation, such system shall include at the request of Lender a
detailed review ("ENVIRONMENTAL REMEDIATION REPORT") of the status of such
violation by such environmental consultant. Borrower shall furnish each
Environmental Compliance Report or Environmental Remediation Report to Lender
within sixty (60) days after Lender so requests, together with such additional
information as Lender may reasonably request. If Borrower fails to contract for
such an Environmental Compliance Report or Environmental Remediation Report
after ten (10) days notice, or fails to provide either such report within sixty
(60) days, Lender may order same, and Borrower grants to Lender and its
employees, agents, contractors and consultants access to the Property and a
license (which is coupled with an interest and irrevocable while the Security
Instrument is in effect) to perform inspections and

                                       5

<PAGE>

tests, including (but not limited to) the taking of soil borings and air and
groundwater samples. All costs of such reports, inspections and tests shall be
an obligation of Indemnitors which Indemnitors promise to pay to Lender pursuant
to this Agreement. All such costs shall constitute a portion of the Loan,
secured by the Security Instrument and the other Loan Documents.

     Section 3.4. NOTICES. Indemnitors shall give prompt written notices to
Lender of: (a) any proceeding or inquiry by any governmental or nongovernmental
entity or person with respect to the presence of any Hazardous Substance on,
under, from or about the Property, the migration thereof from or to other
property, the disposal, storage, or treatment of any Hazardous Substance
generated or used on, under or about the Property, (b) all claims made or
threatened by any third party against Indemnitors or the Property or any other
owner or operator of the Property relating to any release reportable under any
applicable Environmental Law, loss or injury resulting from any Storage Tank or
Hazardous Substance, and (c) Indemnitors' discovery of any occurrence or
condition on any real property adjoining or in the vicinity of the Property that
could cause the Property or any part thereof to be subject to any investigation
or cleanup of the Property pursuant to any Environmental Law or that could
result in Indemnitors becoming liable for any cost related to any investigation
or cleanup of such Property.

     Section 3.5. LEGAL PROCEEDINGS. Indemnitors shall permit Lender to join and
participate in, as a party if it so elects, any legal proceedings or actions
initiated with respect to the Property in connection with any Environmental Law,
Hazardous Substance or Storage Tank and Indemnitors shall pay all reasonable
attorneys' fees incurred by Lender in connection therewith.

     Section 3.6. REMEDIATION. In the event that the Property (or any portion
thereof) becomes the subject of any Remediation, Indemnitors shall commence such
Remediation no later than the earlier of (a) thirty (30) days after written
demand by Lender for performance thereof, or (b) such shorter period of time as
may be required under applicable law, and thereafter shall diligently prosecute
the same to completion in accordance with applicable law. All Remediation shall
be performed by contractors approved in advance by Lender, and under the
supervision of a consulting engineer approved by Lender. All costs and expenses
of such Remediation shall be paid by Indemnitors, including, without limitation,
Lender's reasonable attorneys' fees and costs incurred in connection with
monitoring or review of such Remediation. In the event Indemnitors shall fail to
timely commence, or cause to be commenced, or fail to diligently prosecute to
completion, such Remediation, Lender may, but shall not be required to, cause
such Remediation to be performed, and all costs and expenses thereof, or
incurred in connection therewith, shall become part of the Loan.

                                   ARTICLE IV
                                 INDEMNIFICATION

     INDEMNITORS SHALL PROTECT, INDEMNIFY, DEFEND AND HOLD HARMLESS LENDER, ITS
PARENTS, SUBSIDIARIES, TRUSTEES, SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES,
REPRESENTATIVES, AGENTS, SUCCESSORS AND ASSIGNS (COLLECTIVELY, "INDEMNIFIED
PARTIES") FROM AND AGAINST ALL LIABILITIES, OBLIGATIONS, CLAIMS, DEMANDS,
DAMAGES, INJURIES, PENALTIES, CAUSES OF ACTION, LOSSES,

                                       6

<PAGE>

FINES, COSTS AND EXPENSES (INCLUDING WITHOUT LIMITATION CONSEQUENTIAL DAMAGES
AND REASONABLE ATTORNEYS' FEES AND EXPENSES), DIRECTLY OR INDIRECTLY ARISING
FROM OR RELATED TO (A) ANY BREACH OF A REPRESENTATION, WARRANTY OR COVENANT
CONTAINED HEREIN, AND/OR (B) ANY RELEASE OF OR EXPOSURE TO ANY HAZARDOUS
SUBSTANCE (INCLUDING PERSONAL INJURY OR DAMAGE TO PROPERTY), NONCOMPLIANCE WITH
ANY ENVIRONMENTAL LAW, REMEDIATION, OR ARISING UNDER ANY ENVIRONMENTAL LAW.

                                   ARTICLE V
                                     GENERAL

     Section 5.1. UNIMPAIRED LIABILITY. The liability of Indemnitors under this
Agreement shall in no way be limited or impaired by, and Indemnitors hereby
consent to and agree to be bound by, any amendment or modification of the
provisions of the Note, the Security Instrument or any other document which
evidences, secures or guarantees all or any portion of the Loan or is executed
and delivered in connection with the Loan (the "Loan Documents") to or with
Lender by Borrower or any person who succeeds Borrower or any person as owner of
the Property. In addition, the liability of Indemnitors under this Agreement
shall in no way be limited or impaired by (i) any extensions of time for
performance required by the Note, the Security Instrument or any of the Loan
Documents, (ii) any sale or transfer of all or part of the Property, (iii)
except as provided herein, any exculpatory provision in the Note, the Security
Instrument, or any of the Loan Documents limiting Lender's recourse to the
Property or to any other security for the Note, or limiting Lender's rights to a
deficiency judgment against Borrower, (iv) the accuracy or inaccuracy of the
representations and warranties made by Borrower under the Note, the Security
Instrument or any of the Loan Documents or herein, (v) the release of one or
more Indemnitors or any other person from performance or observance of any of
the agreements, covenants, terms or conditions contained in any of the Loan
Documents by operation of law, Lender's voluntary act, or otherwise, (vi) the
release or substitution in whole or in part of any security for the Note, or
(vii) Lender's failure to record the Security Instrument or file any UCC
financing statements (or Lender's improper recording or filing of any thereof)
or to otherwise perfect, protect, secure or insure any security interest or lien
given as security for the Note; and, in any such case, whether with or without
notice to Indemnitors and with or without consideration.

     Section 5.2. ENFORCEMENT. Indemnified Parties may enforce the obligations
of Indemnitors without first resorting to or exhausting any security or
collateral or without first having recourse to the Note, the Security
Instrument, or any Loan Documents or any of the Property, through foreclosure
proceedings or otherwise, provided, however, that nothing herein shall inhibit
or prevent Lender from suing on the Note, foreclosing, or exercising any power
of sale under, the Security Instrument, or exercising any other rights and
remedies thereunder. This Agreement is not collateral or security for the debt
of Indemnitors pursuant to the Loan, unless Lender expressly elects in writing
to make this Agreement additional collateral or security for the debt of
Borrower pursuant to the Loan, which Lender is entitled to do in its sole
discretion. It is not necessary for an Event of Default to have occurred
pursuant to and as defined in the Security Instrument for Indemnified Parties to
exercise their rights pursuant to this Agreement. Notwithstanding any provision
of the Security Instrument, the obligations pursuant to this Agreement are
exceptions to any non-recourse or exculpation provision of the Security

                                       7

<PAGE>

Instrument; Indemnitors are fully, personally, jointly and severally liable for
such obligations, and their liability is not limited to the original or
amortized principal balance of the Loan or the value of the Property.

     Section 5.3. WAIVERS. (a) Indemnitors hereby waive (i) any right or claim
of right to cause a marshalling of any Indemnitor's assets or to cause Lender or
other Indemnified Parties to proceed against any of the security for the Loan
before proceeding under this Agreement against any Indemnitors; (ii) and
relinquish all rights and remedies accorded by applicable law to indemnitors or
guarantors, except any rights of subrogation which Indemnitors may have,
provided that the indemnity provided for hereunder shall neither be contingent
upon the existence of any such rights of subrogation nor subject to any claims
or defenses whatsoever which may be asserted in connection with the enforcement
or attempted enforcement of such subrogation rights including, without
limitation, any claim that such subrogation rights were abrogated by any acts of
Lender or other Indemnified Parties; (iii) the right to assert a counterclaim,
other than a mandatory or compulsory counterclaim, in any action or proceeding
brought against or by Lender or other Indemnified Parties; (iv) notice of
acceptance hereof and of any action taken or omitted in reliance hereon; (v)
presentment for payment, demand of payment, protest or notice of nonpayment or
failure to perform or observe, or other proof, or notice or demand; and (vi) all
homestead exemption rights against the obligations hereunder and the benefits of
any statutes of limitations or repose. Notwithstanding anything to the contrary
contained herein, Indemnitors hereby agree to postpone the exercise of any
rights of subrogation with respect to any collateral securing the Loan until the
Loan shall have been paid in full. No delay by any Indemnified Party in
exercising any right, power or privilege under this Agreement shall operate as a
waiver of any such right, power or privilege.

                                   ARTICLE VI
                                  MISCELLANEOUS

     Section 6.1. SURVIVAL OF OBLIGATIONS. Each and all of the representations,
covenants and agreements and indemnities contained herein shall survive any
termination, satisfaction or assignment of the Loan Documents or the entry of a
judgment of foreclosure, sale of the Property by nonjudicial foreclosure sale,
delivery of a deed in lieu of foreclosure or the exercise by Lender of any of
its other rights and remedies under the Loan Documents; provided, however, that
such covenants, agreements and indemnities shall not apply to (a) events
occurring after transfer of the Property to Lender (or its designee) pursuant to
a foreclosure of the Security Instrument (or otherwise in satisfaction thereof)
which are based upon or arise out of circumstances or conditions which are not
caused by any Indemnitor and which are first created or which first arise or
come into existence after such transfer or (b) legal requirements which are
first enacted after such transfer. Notwithstanding the foregoing, the covenants
and agreements and indemnities contained in this Section 6.1 shall terminate two
(2) years after the Note has been paid in full and all obligations of Borrower
and Guarantor under the Loan Documents are satisfied, provided Borrower has
delivered to Lender a Phase I environmental assessment of the Property in form
and substance reasonable satisfactory to Lender which concludes that there are
no Hazardous Substances in, on or adjacent to the Property.

                                       8

<PAGE>

     Section 6.2. JOINT AND SEVERAL. The obligations and liabilities of the
Indemnitors under this Agreement shall be joint and several.

     Section 6.3. NOTICES. All notices or other communications required or
permitted to be given hereunder shall be given to the parties and become
effective as provided in the Security Instrument.

     Section 6.4. BINDING EFFECT. This Agreement shall be binding on the parties
hereto, their successors, assigns, heirs and legal representatives and all other
persons claiming by, through or under them.

     Section 6.5. COUNTERPARTS. This Agreement may be executed in any number of
counterparts each of which shall be deemed to be an original but all of which
when taken together shall
constitute one agreement.

     Section 6.6. GOVERNING LAW; JURISDICTION. THIS AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT
REGARD TO CONFLICTS OF LAW PRINCIPLES. INDEMNITORS HEREBY IRREVOCABLY SUBMIT TO
THE JURISDICTION OF ANY COURT OF COMPETENT JURISDICTION LOCATED IN THE CITY OF
CHICAGO AND STATE OF ILLINOIS IN CONNECTION WITH ANY PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT.

     Section 6.7. WAIVER OF TRIAL BY JURY. INDEMNITORS HEREBY WAIVE THEIR RIGHT
TO A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO
TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER
EXIST WITH REGARD TO THE NOTE, THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS, OR
ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH
INCLUDING, BUT NOT LIMITED TO THOSE RELATING TO (A) ALLEGATIONS THAT A
PARTNERSHIP EXISTS BETWEEN ANY INDEMNITOR AND LENDER; (B) USURY OR PENALTIES OR
DAMAGES THEREFOR; (C) ALLEGATIONS OF UNCONSCIONABLE ACTS, DECEPTIVE TRADE
PRACTICE, LACK OF GOOD FAITH OR FAIR DEALING, LACK OF COMMERCIAL REASONABLENESS,
OR SPECIAL RELATIONSHIPS (SUCH AS FIDUCIARY, TRUST OR CONFIDENTIAL
RELATIONSHIPS); (D) ALLEGATIONS OF DOMINION, CONTROL, ALTER EGO,
INSTRUMENTALITY, FRAUD, REAL ESTATE FRAUD, MISREPRESENTATION, DURESS, COERCION,
UNDUE INFLUENCE, INTERFERENCE OR NEGLIGENCE; (E) ALLEGATIONS OF TORTIOUS
INTERFERENCE WITH PRESENT OR PROSPECTIVE BUSINESS RELATIONSHIPS OR OF ANTITRUST;
OR (F) SLANDER, LIBEL OR DAMAGE TO REPUTATION. THIS WAIVER OF RIGHT TO TRIAL BY
JURY IS GIVEN KNOWINGLY, INTENTIONALLY AND VOLUNTARILY BY INDEMNITORS, AND IS
INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE
RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER IS HEREBY AUTHORIZED TO
FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS
WAIVER BY INDEMNITORS. INDEMNITORS

                                       9

<PAGE>

ACKNOWLEDGE THAT NEITHER LENDER NOR ANY PERSON ACTING ON BEHALF OF LENDER HAS
MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR HAS
TAKEN ANY ACTION WHICH IN ANY WAY MODIFIES OR NULLIFIES ITS EFFECT. INDEMNITORS
ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO THE LOAN,
THAT LENDER HAS RELIED ON THIS WAIVER IN ENTERING INTO THE LOAN DOCUMENTS AND
THAT LENDER WILL CONTINUE TO RELY ON THIS WAIVER IN ITS FUTURE DEALINGS.
INDEMNITORS FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE
OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS AGREEMENT AND ANY OTHER
LOAN DOCUMENTS THAT INDEMNITORS HAVE ENTERED INTO AND IN THE MAKING OF THIS
WAIVER BY INDEPENDENT LEGAL COUNSEL, SELECTED OF THEIR OWN FREE WILL, AND THAT
THEY HAVE HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

     Section 6.8. RELIANCE. Indemnitors recognize and acknowledge that in
entering into the loan transaction evidenced by the Loan Documents and accepting
the Security Instrument, Lender is expressly and primarily relying on the truth
and accuracy of the warranties and representations set forth in this Agreement
without any obligation to investigate the Property and notwithstanding any
investigation of the Property by Lender; that such reliance exists on the part
of Lender prior hereto; that such warranties and representations are a material
inducement to Lender in making the loan evidenced by the Loan Documents and
accepting the Security Instrument; and that Lender would not be willing to make
the loan evidenced by the Loan Documents and accept the Security Instrument in
the absence of such warranties and representations.

     Section 6.9. HEADINGS. The article, section and subsection headings are for
convenience of reference only and shall in no way alter, modify, or define, or
be used in construing the text of such articles, sections or subsections.

     Section 6.10. NO ORAL CHANGE. This Agreement may not be waived, extended,
changed, discharged or terminated orally, or by any act or failure to act on the
part of Indemnitors or Lender, but only by an agreement in writing signed by the
party against whom the enforcement of any modification, amendment, waiver,
extension, change, discharge or termination is sought.

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK;
                             SIGNATURE PAGE FOLLOWS]

                                       10

<PAGE>

EXECUTED as of the date first above written.

                                        BORROWER:

                                        NNN Southpointe, LLC, a Delaware limited
                                        liability company

                                        By: Triple Net Properties, LLC, a
                                            Virginia limited liability company,
                                            its manager

                                        By: /s/ Louis Rogers
                                            ------------------------------------
                                        Name: Louis Rogers
                                        Its: President

                                      B-1

<PAGE>

                                        GUARANTORS:

                                        Triple Net Properties, LLC,
                                        a Virginia limited liability company

                                        By: /s/ Louis Rogers
                                            ------------------------------------
                                        Name: Louis Rogers
                                        Its: President

                                      B-2

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