Document:

Omnibus Extension of Loan Agreements

 Exhibit 10.3 
 March 11, 2011 
 VIA E-MAIL AND FEDERAL EXPRESS 

To the Persons listed on Schedule I hereto, Schedule II hereto 
       and GKK Stars Junior Mezz 2 LLC 
 c/o Gramercy Capital Corp.

 420 Lexington Avenue, 19th Floor 

New York, New York 10170 

			
	Attention:	  	Robert R. Foley, Chief Operating Officer and
		  	Timothy J. O’Connor, President

 Re:
Omnibus Extension of Loan Agreements 
 Ladies and Gentlemen: 
 Reference is hereby made to (i) that certain Loan Agreement, dated as of April 1, 2008 (as amended by that certain Amendment to Loan Agreement, dated as of August 22, 2008, and as further
amended by that certain Second Amendment to Loan Agreement (the “Second Amendment”), dated as of March 9, 2010, the “Mortgage Loan Agreement”), by and among the parties identified as “Mortgage
Borrower” on Schedule I hereto (collectively, the “Mortgage Borrower”) and Goldman Sachs Commercial Mortgage Capital, L.P. (as predecessor-in-interest to Goldman Sachs, “Goldman”), Citicorp North
America, Inc. (“Citi”), and SL Green Realty Corp. (“SL Green,” and collectively with Goldman and Citi, the “Mortgage Lender”), and (ii) that certain Amended and Restated Senior Mezzanine Loan
Agreement, as amended by that certain Amended and Restated Loan Agreement (the “Senior Mezz Amendment”) dated as of March 9, 2010 (the “Senior Mezzanine Loan Agreement”), effective as of August 22, 2008,
by and between KBS Debt Holdings LLC (“Senior Mezzanine Lender”), as successor-in-interest to Goldman and Citi, and the parties identified as “Senior Mezzanine Borrower” on Schedule II hereto (collectively, the
“Senior Mezzanine Borrower”), a 56.25% participation in which was acquired by KBS GKK Participation Holdings I, LLC (“KBS Participation Holdings I”) and then sold to Goldman pursuant to that certain Master
Repurchase Agreement, dated as of August 22, 2008, between KBS Participation Holdings I and Goldman and a 43.75% participation in which was acquired KBS GKK Participation Holdings II, LLC (“KBS Participation Holdings II”, and
collectively with KBS Participation Holdings I, “KBS”) and then sold to Citi pursuant to that certain Master Repurchase Agreement, dated as of August 22, 2008, between KBS Participation Holdings II and Citi and (iii) that
certain Junior Mezzanine Loan Agreement, as amended by that certain Amendment to Junior Mezzanine Loan Agreement (the “Junior Mezz Amendment”), dated as of March 9, 2010 (the “Junior Mezzanine Loan Agreement”),
dated as of August 22, 2008, by and between Goldman, Citi and SL Green (collectively, the “Junior Mezzanine Lender” and collectively with Mortgage Lender and Senior Mezzanine Lender, the “Lender”) and GKK Stars
Junior Mezz 2 LLC (the “Junior Mezzanine Borrower”, and collectively with the Mortgage Borrower and Senior Mezzanine Borrower, the “Borrower”). Capitalized terms not defined herein shall have the meanings set forth
in the Mortgage Loan Agreement. References in this Extension Agreement to the “Loans,” the “Loan Agreements,” or the “Loan Documents” shall be 

 
deemed to collectively refer to the Loan, the Mezzanine Loan and the Junior Mezzanine Loan; the Loan Documents, the Mezzanine Loan Documents and the Junior Mezzanine Loan Documents; and the
Mortgage Loan Agreement, the Senior Mezzanine Loan Agreement and the Junior Mezzanine Loan Agreement, as applicable. 
 Pursuant
to Section 3(a) of the Second Amendment, the Senior Mezz Amendment and the Junior Mezz Amendment, the scheduled maturity date of the mortgage and mezzanine loans (the “Maturity Date”) will occur on March 11, 2011. Borrower
has requested that Lenders enter into this agreement to extend the Maturity Date (“Extension Agreement”) until 11:59 PM on March 13, 2011 (eastern standard time) (the period from March 11, 2011 until 11:59 PM on
March 13, 2011 (eastern standard time) referred to herein as the “Extension Period”). Lenders have agreed to the same, under terms and conditions set forth in this Extension Agreement. 

 

	 	1.	Lenders, Borrowers, Guarantor and Whole Loan Guarantor hereby agree that the Maturity Date with respect to each of the Loan, the Mezzanine Loan and the Junior Mezzanine
Loan shall be 11:59 PM (eastern standard time) on March 13, 2011. 

  

	 	2.	Borrower and Guarantor hereby represent that neither Borrower nor Guarantor is entering into this Extension Agreement or the transactions contemplated hereunder with
the intention of defrauding, delaying or hindering any creditors of Borrower or Guarantor. 

  

	 	3.	This Extension Agreement may be executed in any number of separate counterparts and by the different parties hereto on separate counterparts, each of which shall be
deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument. In proving this Extension Agreement in any judicial proceedings, it shall not be necessary to produce or account for more than one such
counterpart signed by the party against whom such enforcement is sought. Any signature delivered by a party by facsimile transmission or electronic mail shall be deemed an original signature hereto. 

 

	 	4.	This Extension Agreement shall not be a binding obligation of any party hereto until such time as all of the signatories hereto have executed and delivered this
Extension Agreement. Notwithstanding the foregoing, the inclusion of any individual Lender party as a signatory hereto shall not be interpreted to mean that the consent of such individual Lender party is required pursuant to any existing agreement
among the Lender parties. 

  

	 	5.	 Each of the parties hereto expressly reserves any and all rights and remedies available under the Loan Documents, at law and in equity. No delay,
waiver or failure to exercise by Lender in exercising any right, remedy, power or privilege hereunder or under the Loan Documents shall preclude any other or further exercise thereof, or the exercise of any other right, remedy power or privilege.
Except as modified hereby, the Loan Documents are and shall remain in full force and effect, Borrower and Guarantor ratify and reaffirm all of the terms and provisions of the Loan Documents. Except as expressly set forth herein, nothing

  
 2 

	 	 
contained herein shall be construed or interpreted as a modification or amendment of the Loan Documents in any way. 

 

	 	6.	This Extension Agreement shall be governed by, and construed in accordance with the laws of the State of New York without regard to principles of conflicts of law. The
parties hereto hereby agree that any suit for the enforcement of this Extension Agreement may be brought in the courts of the State of New York sitting in New York County or any Federal Court sitting in New York County and consent to the exclusive
jurisdiction of such Court. 

 [SIGNATURE PAGES FOLLOW] 

  
 3 

 IN WITNESS WHEREOF, for good and valuable consideration, the sufficiency of which is hereby
acknowledged and agreed, the parties hereto have executed and delivered this Extension Agreement as of the date first hereinabove set forth. This letter agreement shall be of no force and effect unless signed by each of the parties set forth below.

  

			
	BORROWER:
	
	The entities listed on Schedule A to this signature page
		
	By:        	 	/s/ Robert R. Foley
		 	Name: Robert R. Foley
		 	Title: Chief Operating Officer
	
	GUARANTOR:
	
	GRAMERCY CAPITAL CORP., a Maryland corporation
		
	By:	 	/s/ Robert R. Foley
		 	Name: Robert R. Foley
		 	Title: Chief Operating Officer
	
	WHOLE LOAN GUARANTOR:
	
	GKK STARS JUNIOR MEZZ I, LLC, a Delaware limited liability company
		
	By:	 	/s/ Robert R. Foley
		 	Name: Robert R. Foley
		 	Title: Chief Operating Officer

[SIGNATURES CONTINUED ON FOLLOWING PAGE] 
 SHORT TERM EXTENSION – SIG PAGE (GRAMERCY) 

 
			
	MORTGAGE LENDER:
	
	GOLDMAN SACHS MORTGAGE COMPANY, a New York limited partnership
		
	 By:
	 	Goldman Sachs Real Estate Funding Corp., its general partner

			
		
	By:	 	/s/ Mark J. Buono
		 	Name: Mark J. Buono
		 	Title: Authorized Signatory
	
	CITICORP NORTH AMERICA, INC., a New York corporation
		
	By:        	 	/s/ Michael M. Schadt
		 	Name: Michael M. Schadt
		 	Title: Director
	
	SL GREEN REALTY CORP., a Maryland corporation
		
	By:	 	/s/ Andrew S. Levine
		 	Name: Andrew S. Levine
		 	Title: Executive Vice President

[SIGNATURES CONTINUED ON FOLLOWING PAGE] 
 SHORT TERM EXTENSION – SIG PAGE 

 
									
	SENIOR MEZZANINE LENDER:
	
	KBS GKK PARTICIPATION HOLDINGS I, LLC, a Delaware limited liability company
		
	By:    	 	 KBS DEBT HOLDINGS, LLC,
 a Delaware limited liability company,
 its sole member

			
		 	By:	 	 KBS LIMITED PARTNERSHIP,
 a Delaware limited partnership,
 its manager

				
		 		 	By:	 	 KBS REAL ESTATE

INVESTMENT TRUST, INC.,
 a Maryland
corporation,
 its sole general partner

					
		 		 		 	By:	 	/s/ David E. Snyder
		 		 		 		 	David E. Snyder
		 		 		 		 	Chief Financial Officer

  

 

											
	KBS GKK PARTICIPATION HOLDINGS II, LLC, a Delaware limited liability company
		
	By:	 	 KBS DEBT HOLDINGS, LLC,
 a Delaware limited liability company,
 its sole member

				
		 		 	By:	 	 KBS LIMITED PARTNERSHIP,
 a Delaware limited partnership,
 its manager

					
		 		 		 	By:  	 	 KBS REAL ESTATE INVESTMENT TRUST, INC.,
 a Maryland corporation,
 its sole general partner

						
		 		 		 		 	By:  	 	/s/ David E. Snyder
		 		 		 		 		 	David E. Snyder
		 		 		 		 		 	Chief Financial Officer

 [SIGNATURES
CONTINUED ON FOLLOWING PAGE] 
 SHORT TERM EXTENSION – SIG PAGE 

 
			
	Consented, acknowledged and agreed:
	
	 GOLDMAN SACHS MORTGAGE
 COMPANY, a New York limited partnership

		
	By:	 	Goldman Sachs Real Estate Funding
		 	Corp., its general partner
		
	By:        	 	/s/ Mark J. Buono
		 	Name: Mark J. Buono
		 	Title: Authorized Signatory
	
	 CITICORP NORTH AMERICA, INC.,
 a New York corporation

		
	By:	 	/s/ Michael M. Schadt
		 	Name: Michael M. Schadt
		 	Title: Director

 [SIGNATURES
CONTINUED ON FOLLOWING PAGE] 
 SHORT TERM EXTENSION – SIG PAGE 

 
					
	JUNIOR MEZZANINE LENDER:
	
	GOLDMAN SACHS MORTGAGE COMPANY, a New York limited partnership
			
	By:	 		 	Goldman Sachs Real Estate Funding Corp., its general partner
			
	By:	 		 	/s/ Mark J. Buono
		 	Name:	 	Mark J. Buono
		 	Title:	 	Authorized Signatory
	
	CITICORP NORTH AMERICA, INC., a New York corporation
			
	By:	 		 	/s/ Michael M. Schadt
		 		 	Name: Michael M. Schadt
		 		 	Title: Director
	
	SL GREEN REALTY CORP., a Maryland corporation
			
	By:	 		 	/s/ Andrew S. Levine
		 		 	Name: Andrew S. Levine
		 		 	Title: Executive Vice President

 SHORT TERM
EXTENSION – SIG PAGE 

 Schedule I 
 MORTGAGE BORROWERS 
  

	1.	Dresher Court Realty, L.P. 

	2.	First States Investors 105, LLC (PA) 

	3.	First States Investors 107, LLC (AR) 

	4.	First States Investors 117, LLC (FL) 

	5.	First States Investors 118, LLC (FL) 

	6.	First States Investors 147, LLC (IA) 

	7.	First States Investors 154, LLC (NJ) 

	8.	First States Investors 157, LLC (NJ) 

	9.	First States Investors 2017, LLC 

	10.	First States Investors 2100, L.P. (NC) 

	11.	First States Investors 2102, L.P. (NC) 

	12.	First States Investors 2103, L.P. (NC) 

	13.	First States Investors 2104, L.P. (NC) 

	14.	First States Investors 2105, L.P. (NC) 

	15.	First States Investors 2106, L.P. (NC) 

	16.	First States Investors 2107, L.P. (NC) 

	17.	First States Investors 2108, L.P. (NC) 

	18.	First States Investors 2110, LLC (VA) 

	19.	First States Investors 2208, LLC (DE) 

	20.	First States Investors 230, L.P. (NC) 

	21.	First States Investors 2550A, LLC (DE) 

	22.	First States Investors 3004, Limited Partnership (FL) 

	23.	First States Investors 3014, LLC (GA) 

	24.	First States Investors 3022, L.P. (NC) 

	25.	First States Investors 3024, L.P. (NC) 

	26.	First States Investors 3028, L.P. (NC) 

	27.	First States Investors 3033, L.P. (NC) 

	28.	First States Investors 3034, LLC (SC) 

	29.	First States Investors 3035, LLC (SC) 

	30.	First States Investors 3043, LLC (SC) 

	31.	First States Investors 3048, LLC (VA) 

	32.	First States Investors 3061, LLC (NJ) 

	33.	First States Investors 3067, LLC (VA) 

	34.	First States Investors 3076, LLC (GA) 

	35.	First States Investors 3077, LLC (GA) 

	36.	First States Investors 3081, Limited Partnership 

	37.	First States Investors 3086, LLC (PA) 

	38.	First States Investors 3087, LLC (VA) 

	39.	First States Investors 3089, LLC (VA) 

	40.	First States Investors 3090, LLC (FL) 

	41.	First States Investors 3091, LLC (GA) 

	42.	First States Investors 3093, LLC (VA) 

	43.	First States Investors 3098, LLC (VA) 

	44.	First States Investors 3099, LLC (VA) 

	45.	First States Investors 3103, LLC (GA) 

	46.	First States Investors 3108, LLC (NJ) 

	47.	First States Investors 3114, LLC (TN) 

	48.	First States Investors 3151, LLC (FL) 

	49.	First States Investors 3179, Limited Partnership (DE) 

	50.	First States Investors 3187, Limited Partnership (DE) 

	51.	First States Investors 3195, L.P. (TX) 

	52.	First States Investors 3300, LLC 

	53.	First States Investors 3601, LLC (FL) 

	54.	First States Investors 3632, LLC (FL) 

	55.	First States Investors 3642, LLC (NJ) 

	56.	First States Investors 3647, L.P. (PA) 

	57.	First States Investors 40, LLC (MO) 

	58.	First States Investors 4000C, LLC (DE) 

	59.	First States Investors 4029, LLC (DE) 

	60.	First States Investors 4043, LLC (GA) 

	61.	First States Investors 4044, LLC (DE) 

	62.	First States Investors 4048, LLC (DE) 

	63.	First States Investors 4055, LLC (DE) 

	64.	First States Investors 4062, LLC (DE) 

	65.	First States Investors 4067, LLC (DE) 

	66.	First States Investors 4081, LLC (DE) 

	67.	First States Investors 4085, LLC (DE) 

	68.	First States Investors 4100B, L.P. (DE) 

	69.	First States Investors 4150, LLC (DE) 

	70.	First States Investors 4413, LLC (DE) 

	71.	First States Investors 4499, LLC (DE) 

	72.	First States Investors 4500, LLC (DE) 

	73.	First States Investors 5000B, LLC (DE) 

	74.	First States Investors 77, L.P. (FL) 

	75.	First States Investors 922, LLC (IL) 

	76.	First States Investors 923, L.P. (DE) 

	77.	First States Investors 926 L.P. 

	78.	First States Investors 927, LLC (DE) 

	79.	First States Investors Branch One, L.P. (DE) 

	80.	First States Investors GS Pool A, L.P. (DE) 

	81.	First States Investors GS Pool B, L.P. (DE) 

	82.	First States Investors GS Pool C, L.P. 

	83.	First States Investors Realty, LLC (DE) 

	84.	First States Partners No. 201, L.P. 

	85.	First States Partners No. 203, LLC (NJ) 

	86.	First States Partners No. 213, LLC (NJ) 

	87.	First States Partners No. 216, L.P. (PA) 

	88.	First States Partners No. 236 L.P. (PA) 

	89.	First States Properties No. 12, LLC (PA) 

	90.	First States Properties No. 15, LLC (PA) 

	91.	First States Properties No. 19, LLC (PA) 

	92.	First States Properties No. 34, LLC (PA) 

	93.	First States Properties No. 35, LLC (PA) 

	94.	First States Properties No. 37, LLC (PA) 

	95.	First States Properties No. 41, LLC (PA) 

	96.	First States Properties No. 43, LLC (PA) 

	97.	First States Properties No. 49, LLC (PA) 

	98.	First States Properties No. 51, LLC (PA) 

	99.	First States Properties No. 52, LLC (PA) 

	100.	First States Properties No. 56, LLC (PA) 

	101.	First States Properties No. 59, LLC (PA) 

	102.	First States Properties No. 62, LLC (PA) 

	103.	First States Properties No. 67, LLC (PA) 

	104.	First States Properties No. 71, LLC (PA) 

	105.	First States Properties No. 73, LLC (PA) 

	106.	First States Properties No. 75, LLC (PA) 

	107.	First States Properties No. 9, LLC (PA) 

	108.	First States Realty Corp., LLC 

 SCHEDULE II 
 SENIOR MEZZANINE BORROWERS 
  

	1.	American Financial TRS, Inc. (DE) 

	2.	First States Investors 104 Holdings, L.P. (DE) 

	3.	First States Investors 240 Holdings, LLC (DE) 

	4.	First States Investors 241 Holdings, LLC (DE) 

	5.	First States Investors 3300 Holdings, LLC (DE) 

	6.	First States Investors 4400A, L.P. (DE) 

	7.	First States Investors 4100, LLC (DE) 

	8.	First States Investors 4600 Holdings, LLC (DE) 

	9.	First States Investors 5000, LLC (DE) 

	10.	First States Investors 6000, L.P. 

	11.	First States Investors 801, L.P. (PA) 

	12.	First States Investors 923 Holdings, L.P. 

	13.	First States Investors 927 Holdings, LLC 

	14.	First States Investors Asset Group A, L.P. 

	15.	First States Investors GS Pool A Holdings, LLC (DE) 

	16.	First States Investors GS Pool B Holdings, LLC (DE) 

	17.	First States Investors, L.P. (DE) 

	18.	First States Partners III, L.P. (DE) 

	19.	First States Partners, L.P. (DE) 

	20.	First States Properties, L.P. (PA) 

	21.	First States Wilmington JV, L.PAmendment No. 1 to Extension Agreement

 Exhibit 10.4 
 EXECUTION COPY 
 GOLDMAN SACHS MORTGAGE COMPANY 

200 WEST STREET 
 NEW YORK, NEW YORK 10282-2198 
  
 March 13, 2011 
 VIA FEDERAL EXPRESS 

KBS GKK Participation Holdings I, LLC 
 c/o KBS
Capital Advisors LLC 
 620 Newport Center Drive, Suite 1300 
 Newport Beach, CA 92660 
 Telephone: 949-417-6563 

Facsímile: 949-417-6518 
 Attention: David
E. Snyder, Chief Financial Officer 
 Re: Amendment #1 to Extension Agreement (this “Amendment”) 

Ladies and Gentlemen: 
 We
refer to the Extension Agreement, dated March 9, 2011 (the “Extension Agreement”), by and between KBS GKK Participation Holdings I, LLC (the “Seller”) and Goldman Sachs Mortgage Company (the
“Buyer”) relating to the Master Repurchase Agreement, dated as of August 22, 2008 (as amended and modified by the Extension Agreement, the “Repurchase Agreement”), by and between Seller and Buyer. Capitalized
terms not defined herein shall have the meanings set forth in the Repurchase Agreement and if not defined therein shall have the meanings set forth in the Intercreditor Agreement, dated as of August 22, 2008 (the “Intercreditor
Agreement”), by and among Citigroup Financial Products Inc. (“Citi”), Buyer, SLG Stars Mortgage Loan LLC, and SLG Stars Mezz Loan LLC. 
 Seller requested that Buyer enter into the Extension Agreement to extend the Termination Date as provided therein. Seller has requested Buyer to agree to amend the Extension Agreement. Now, therefore,
Buyer and Seller agree as follows: 
  

	 	1.	 Amendment to Extension Agreement The parties hereto hereby agree that Paragraph 1(a) of the Extension Agreement is amended by inserting the
following as a new paragraph immediately after the first paragraph of Paragraph 1(a): 

“If all conditions precedent under Paragraph 1 of the Omnibus Extension of Loan Agreements, dated March 13,
2011 (the “Omnibus Extension”), by and among the borrowers under each of the Senior Loan, the Senior Mezzanine Loan and the Junior Mezzanine Loan, 

 
Gramercy Capital Corp., GKK Stars Junior Mezz I, LLC, Goldman Sachs Mortgage Company, Citicorp North America, Inc., KBS GKK Participation Holdings I, LLC ; KBS GKK Participation Holdings II, LLC
and SL Green Realty Corp., have been satisfied in Buyer’s sole determination, (A) the Termination Date shall be extended until 11:59 p.m. (New York time) on April 22, 2011, and (B) the “Short Term Extension Period”
shall mean the period from March 9, 2011 until 11:59 p.m. (New York time) on April 22, 2011.” 
  

	 	2.	 Amendment to Extension Agreement The parties hereto hereby agree that Paragraph 1(a) of the Extension Agreement is amended by deleting the
words “to have paid” from clause (ii) of the last paragraph of Paragraph 1(a) of the Extension Agreement. 

  

	 	3.	 Amendment to Extension Agreement The parties hereto hereby agree that Paragraph 3(a) of the Extension Agreement is amended by inserting the
following text at the end of Paragraph 3(a): 

 “To the extent Seller or any affiliate
acquires the equity in the Senior Mezzanine Borrower or any subsidiary of the Senior Mezzanine Borrower or acquires any rights to exercise any vote or action therewith, Seller shall not take any action therewith without Buyer’s prior written
consent. Seller agrees that any proceeds of the Senior Mezzanine Loan and/or of the participation constituting the Initial Transaction Asset under the Repurchase Agreement (the “Participation”), including without limitation the
equity in the Senior Mezzanine Borrower or any subsidiary of the Senior Mezzanine Borrower, shall be delivered to Buyer or its designee endorsed in blank and shall be included in the Transaction Asset under the Repurchase Agreement. For the
avoidance of doubt, references in this Extension Agreement to the Senior Mezzanine Loan and/or the Participation include proceeds thereof. ” 
  

	 	4.	 Upon written request to Buyer from Seller, Buyer shall, within two (2) business days following receipt of such written request, confirm in
writing to Seller whether all conditions precedent under Paragraph 1 of the Omnibus Extension have been satisfied in Buyer’s sole determination and therefore whether the Termination Date has been extended to April 22, 2011, subject to the
provisions of Paragraph 1(a). 

  

	 	5.	 The Extension Fee received by Buyer and Citi under the Omnibus Extension shall be applied by Buyer and Citi for application on account of
Buyer’s and Citi’s fees, costs and expenses under the Repurchase Agreement and the Citi Repurchase Agreement. 

  
 2 

	 	6.	 From and after the effective date of this Amendment, references in the Extension Agreement to “this Extension Agreement”,
“hereof”, or “hereunder”, or words of like import, shall be deemed to mean the Extension Agreement, as amended by this Amendment. 

 This Amendment may be executed in any number of separate counterparts and by the different parties hereto on separate counterparts, each of which shall be deemed an original and all of which, taken
together, shall be deemed to constitute one and the same instrument. In proving this Amendment in any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party against whom such
enforcement is sought. Any signature delivered by a party by facsimile transmission or electronic mail shall be deemed an original signature hereto. This Amendment shall be governed by the internal laws of the State of New York (including, without
limitation, Section 5-1401, et seq, of the New York General Obligations Law, but otherwise without regard to the provisions thereof regarding conflicts of law). The provisions of Section 12.10 (Submission to Jurisdiction; Waivers) and
Section 12.11 (Waiver of Jury Trial) of the Repurchase Agreement are hereby incorporated in this Amendment by this reference as if fully set forth herein (except that references therein to the Repurchase Agreement shall be deemed to be
references to this Amendment). 
 Subject to the terms hereof, Seller hereby (1) unconditionally ratifies and confirms,
renews and reaffirms all of its obligations under the Transaction Documents, the Transfer Documents, the Security Documents and the Repurchase Agreement and each of the other related documents referenced therein and (2) acknowledges and agrees
that such obligations remain in full force and effect, binding on and enforceable against it in accordance with the terms, covenants and conditions of the Transaction Documents, the Transfer Documents, the Security Documents, the Repurchase
Agreement, and the Extension Agreement as amended hereby, without impairment. 
 Subject to the terms hereof, Guarantor hereby
(1) unconditionally ratifies and confirms, renews and reaffirms all of its obligations under the Parent Guaranty and (2) acknowledges and agrees that such obligations remain in full force and effect, binding on and enforceable against it
in accordance with the terms, covenants and conditions thereof, without impairment. 
 Except as set forth herein, Buyer
expressly reserves any and all rights and remedies available to Buyer under the Repurchase Agreement, the Transaction Documents, the Transfer Documents, the Security Documents and the Participation Agreement, at law and in equity. No delay, waiver
or failure to exercise by Buyer in exercising any right, remedy, power or privilege hereunder or under the Repurchase Agreement, the Transaction Documents, the Transfer Documents, the Security Documents or the Participation Agreement shall preclude
any other or further exercise thereof, or the exercise of any other right, remedy power or privilege. Seller acknowledges and agrees that no oral communication or course of dealing from or on behalf of Buyer shall constitute any waiver, agreement,
commitment, or evidence of any assurance or intention of Buyer with respect to the Repurchase Agreement, the Transaction Documents, the Transfer Documents, the Security Documents or the Participation Agreement and the transactions contemplated
thereunder, and that any waiver, agreement, 

  
 3 

 
commitment, assurance, or intention of Buyer with respect to thereto shall be effective only if in writing and duly executed by Buyer. The execution, delivery and effectiveness of this Amendment
does not constitute a waiver of any Default or Event of Default. Each of the Repurchase Agreement, the Transaction Documents, the Transfer Documents, the Security Documents and the Participation Agreement is and shall remain in full force and
effect, and all of the terms and provisions of the Repurchase Agreement, the Transaction Documents, the Transfer Documents, the Security Documents and the Participation Agreement are hereby ratified and reaffirmed. Except as expressly set forth
herein, nothing contained herein shall be construed or interpreted as a modification or amendment of the Repurchase Agreement, the Transaction Documents, the Transfer Documents, the Security Documents or the Participation Agreement in any way. Time
shall be of the strictest essence in the performance of the Seller’s obligations hereunder. 
 [SIGNATURE PAGES FOLLOW]

  
 4 

 IN WITNESS WHEREOF, for good and valuable consideration, the sufficiency of which is hereby acknowledged and
agreed, the parties hereto have executed and delivered this Amendment as of the date first hereinabove set forth. 
  

			
	BUYER:
	
	GOLDMAN SACHS MORTGAGE COMPANY, a New York limited partnership
		
	By:	 	Goldman Sachs Real Estate Funding Corp., its general partner
		
	By:	 	/s/ Mark J. Buono
	Name:	 	Mark J. Buono
	Title:	 	Authorized Signatory

[AMENDMENT TO EXTENSION AGREEMENT] 

 
					
	AGREED AND ACCEPTED:
	
	SELLER:
	
	KBS GKK PARTICIPATION HOLDINGS I, LLC, a Delaware limited liability company
	
	 By: KBS DEBT HOLDINGS, LLC, a Delaware limited liability company, its sole member

	
	 By: KBS LIMITED PARTNERSHIP, a Delaware limited partnership, its manager

	
	 By: KBS REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation, its sole general partner

			
		 	    By:	 	/s/ David E. Snyder
			
		 	    Name:	 	David E. Snyder
		 	    Title:	 	Chief Financial Officer

  

					
	GUARANTOR:
	
	KBS REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation
		
	By:	 	/s/ David E. Snyder
	Name:	 	David E. Snyder
	Title:	 	Chief Financial Officer

[AMENDMENT TO EXTENSION AGREEMENT]

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