Document:

Exhibit 10.13
                                                                   -------------

                      Confirmation of Rate Cap Transaction

                                                                __________, 2002

PHH Corporation
307 International Circle
Hunt Valley, Maryland  21030
Attn:  Brad Howatt
Fax No:  (410) 771-3362

         cc:      Mark E. Johnson
                  Cendant Corporation
                  6 Sylvan Way
                  Parsippany, NJ 07054

Ladies and Gentlemen:

               The purpose of this letter agreement is to set forth the terms
and conditions of the rate cap transaction entered into between JPMorgan Chase
Bank ("JPMorgan Chase") and PHH Corporation (the "Counterparty") on
____________, 2002 (the "Rate Cap Transaction"). It is understood by the parties
that the Counterparty will contribute its rights, but not its obligation to pay
the Premiums, under this Rate Cap Transaction to PHH Vehicle Management Services
LLC ("VMS"). VMS will in turn contribute its rights under this Rate Cap
Transaction to Raven Funding LLC ("SPV"), and SPV will in turn contribute its
rights under this Rate Cap Transaction to Chesapeake Funding LLC (the "Issuer").
The Issuer will pledge its rights under this Rate Cap Transaction to JPMorgan
Chase, as indenture trustee (the "Indenture Trustee") under the Base Indenture
dated as of June 30, 1999, between the Issuer and the Indenture Trustee, as
amended by that Series 2002-2 Indenture Supplement thereto (the "Indenture
Supplement"), dated as of ___________, 2002, between the Issuer and the
Indenture Trustee (the "Indenture").

               In consideration of the promise by the Counterparty to make the
payment of the Premiums and in consideration of the promise by JPMorgan Chase to
make payments to the Counterparty in accordance with Section 3 hereof, the
parties hereto agree as follows:

               1. Definitions. The following terms shall have the following
meanings:

               "Business Day" means any day that is a New York Business Day and
          a London Business Day and on which banks are not required or
          authorized by law to close in Maryland or Delaware.

                  "Calculation Period" means each period from and including one
         Payment Date (or, in the case of the initial Calculation Period, the
         Effective Date) to but excluding the next succeeding Payment Date (or,
         in the case of the final Calculation Period, the Termination Date).

<PAGE>

                                                                            2

               "Cap Payment" has the meaning defined in Section 3 hereof.

               "Cap Rate" means, with respect to each Calculation Period, the
          weighted average fixed rate of interest on the New Fixed Rate Leases
          as of the last day of the Monthly Period immediately preceding the
          first day of such Calculation Period minus 0.65% per annum.

               "Closed-End Lease" has the meaning defined in the Indenture.

               "Counterparty's Account" means, as long as the Counterparty's
          rights under this letter agreement shall remain assigned to the
          Indenture Trustee, the Collection Account as defined in the Indenture,
          and thereafter such account as is designated by the Counterparty from
          time to time.

               "Designated Maturity" means one month.

               "Effective Date" means _____________, 2002.

               "Excess Cap Payment" has the meaning defined in Section 3 hereof.

               "Floating Rate" means, with respect to a Calculation Period, the
          rate determined by JPMorgan Chase to be (i) the per annum rate for
          deposits in U.S. dollars for a period of the Designated Maturity which
          appears on the Telerate Page 3750 Screen as of 11:00 a.m., London
          time, on the day that is two London Business Days prior to the Reset
          Date in respect of such Calculation Period (rounded upwards, if
          necessary, to the nearest 1/100,000 of 1%); (ii) if such rate does not
          appear on the Telerate Page 3750 Screen, the Floating Rate with
          respect to such Calculation Period shall be the arithmetic mean
          (rounded as aforesaid) of the offered quotations obtained by JPMorgan
          Chase from the Reference Banks for deposits in U.S. dollars to leading
          banks in the London interbank market as of approximately 11:00 a.m.,
          London time, on the day that is two London Business Days prior to such
          Reset Date; or (iii) if fewer than two Reference Banks provide
          JPMorgan Chase with such quotations, the Floating Rate shall be the
          rate per annum which JPMorgan Chase determines to be the arithmetic
          mean (rounded as aforesaid) of the offered quotations which leading
          banks in New York City selected by JPMorgan Chase are quoting in the
          New York interbank market on such Reset Date for deposits in U.S.
          dollars to the Reference Banks or, if fewer than two such quotations
          are available, to leading European and Canadian Banks.

               "JPMorgan Chase's Account" means the account of JPMorgan Chase at
          JP Morgan Chase Bank (ABA: _____________), Account No. ___________.

               "Lease Balance" has the meaning defined in the Indenture.

               "Leased Vehicle" has the meaning defined in the Indenture.

               "London Business Day" means any day on which banks are open for
          business in London, England and on which dealings in deposits in U.S.
          dollars are transacted in the London interbank market.

<PAGE>

                                                                            3

               "Monthly Period" has the meaning defined in the Indenture.

               "Moody's" has the meaning defined in the Indenture.

               "New Fixed Rate Lease" means on any day each Unit Lease then
          bearing interest or finance charges at a fixed rate per annum (a) that
          did not bear interest or finance charges at a fixed rate per annum
          when it initially became a unit Lease or on the Effective Date and (b)
          with respect to which the Issuer shall not have obtained on or prior
          to such day an interest rate cap satisfying the requirements therefor
          set forth in Section 5A.11(c) of the Indenture Supplement.

               "New York Business Day" means any day on which banks are not
          required or authorized by law to close in New York City.

               "Notional Lease Rate Cap" means, with respect to each New Fixed
          Rate Lease, as of the last day of the Monthly Period immediately
          preceding the first Calculation Period during which such New Fixed
          Rate Lease is to be included in the calculation of the Notional
          Principal Amount, a lease rate cap having a notional amount on the
          first day of such Calculation Period equal to the Lease Balance of
          such New Fixed Rate Lease as of the last day of such Monthly Period,
          plus, in the case of a Closed-End Lease, the Stated Residual Value of
          the related Leased Vehicle and on the first day of each Calculation
          Period thereafter at least equal to the scheduled Lease Balance of
          such New Fixed Rate Lease as of the last day of the Monthly Period
          immediately preceding such first day of such Calculation Period, plus,
          in the case of a Closed-End Lease, the Stated Residual Value of the
          related Leased Vehicle and an effective strike rate based on the
          eurodollar rate set forth therein in effect on the dates set forth
          therein at the most equal to the fixed rate of interest on such New
          Fixed Rate Lease minus 0.65% per annum.

               "Notional Principal Amount" means, with respect to a Calculation
          Period, an amount equal to the lesser of (a) the aggregate Unit
          Balance of all New Fixed Rate Leases as of the last day of the Monthly
          Period immediately preceding the first day of such Calculation Period
          and (b) the Series 2002-2 Invested Amount on the first day of such
          Calculation Period.

               "Payment Date" means the 7th day of each month, or, if such date
          is not a Business Day, the next succeeding Business Day, commencing
          ________, 2002 and ending on the Termination Date.

               "Premiums" means the amounts payable by the Counterparty to
          JPMorgan Chase pursuant to Section 2 hereof.

               "Rating Agency Condition" has the meaning defined in the
          Indenture Supplement.

               "Reference Banks" means four major banks in the London interbank
          market selected by JPMorgan Chase.

               "Reset Date" means the first day of each Calculation Period.

<PAGE>

                                                                            4

               "Series 2002-2 Invested Amount" has the meaning defined in the
          Indenture Supplement.

               "Series 2002-2 Percentage" means, on any Payment Date, the
          average Series 2002-2 Invested Percentage during the Monthly Period
          immediately preceding such Payment Date.

               "Series 2002-2 Required Lease Rate Cap" has the meaning defined
          in the Indenture Supplement.

               "Standard & Poor's" has the meaning defined in the Indenture.

               "Stated Residual Value" has the meaning defined in the Indenture.

               "Telerate Page 3750 Screen" means the display designated as "Page
          3750" on the Telerate Service (or such other page as may replace Page
          3750 on that service or such other service as may be nominated by the
          British Bankers' Association as the information vendor for the purpose
          of displaying British Bankers' Association Interest Settlement Rates
          for U.S. Dollar deposits).

               "Termination Date" means the earlier of __________, ____ and the
          date on which the Series 2002-2 Invested Amount has been reduced to
          zero.

               "Unit Balance" means, with respect to any New Fixed Rate Lease,
          as of any date of determination, the Lease Balance of such New Fixed
          Rate Lease as of such date, plus, in the case of a Closed-End Lease,
          the Stated Residual Value of the related Leased Vehicle.

               "Unit Lease" has the meaning defined in the Indenture.

               2. Premiums. On the first day of the first Calculation Period on
which there are any New Fixed Rate Leases, the Counterparty agrees to pay to
JPMorgan Chase an amount, to be determined by JPMorgan Chase on a reasonably
commercial basis, equal to the premium that would have been payable by the
Counterparty to obtain a Notional Lease Rate Cap with respect to each such New
Fixed Rate Lease on the date that is two Business Days prior to such first day.
On the first day of any Calculation Period during which, after giving effect to
the addition of any additional New Fixed Rate Leases, either (x) the aggregate
scheduled notional amounts during such Calculation Period or any Calculation
Period thereafter of the Notional Lease Rate Caps with respect to all New Fixed
Rate Leases will be less than the Notional Principal Amount with respect to such
Calculation Period or any Calculation Period thereafter (the sum of any such
deficiencies, the "Notional Amount Deficiencies") or (y) the weighted average
cap rate during such Calculation Period or any Calculation Period thereafter
under the Notional Lease Rate Caps with respect to all New Fixed Rate Leases
will be higher than the Cap Rate with respect to such Calculation Period or any
Calculation Period thereafter (the "Cap Rate Deficiencies"), the Counterparty
agrees to pay to JPMorgan Chase an amount, to be determined by JPMorgan Chase on
a reasonably commercial basis, equal to the premium that would have been payable
by the Counterparty to obtain a lease rate cap covering the Notional Amount
Deficiencies and/or the Cap Rate Deficiencies. All payments of Premiums to
JPMorgan Chase

<PAGE>

                                                                            5

shall be made by deposit to JPMorgan Chase's Account. JPMorgan
Chase shall determine the amount of any Premium payable by the Counterparty
hereunder, based on the information contained in the Monthly Settlement
Statement delivered to JPMorgan Chase pursuant to Article 7 of the Indenture
Supplement, and notify the Counterparty thereof on the Business Day prior to the
due date thereof.

               3. Payments. JPMorgan Chase agrees to pay to or at the direction
of the Counterparty on each Payment Date, an amount equal to the product of (i)
the amount by which the Floating Rate exceeds the Cap Rate with respect to the
Calculation Period ending on such Payment Date, in each case as determined by
JPMorgan Chase, (ii) the Notional Principal Amount with respect to such
Calculation Period and (iii) the actual number of days in such Calculation
Period divided by 360 (the "Cap Payment"). JPMorgan Chase shall determine the
amount of any Cap Payment for any Payment Date based on the information
contained in the Monthly Settlement Statement delivered to JPMorgan Chase
pursuant to Article 7 of the Indenture Supplement in respect of the immediately
preceding Payment Date. On any Payment Date following a Calculation Period
during which the Notional Principal Amount was calculated based on the amount
set forth in clause (a) of the definition thereof, JPMorgan Chase shall pay a
portion of the Cap Payment, in an amount equal to the Series 2002-2 Percentage
thereof on such Payment Date, to the Counterparty's Account and, subject to
Section 7 hereof, the remaining portion thereof (the "Excess Cap Payment") to or
at the direction of the Issuer. On any Payment Date following a Calculation
Period during which the Notional Principal Amount was calculated based on the
amount set forth in clause (b) of the definition thereof, JPMorgan Chase shall
pay the full amount of the Cap Payment to the Counterparty's Account.

               4. Notices. Any notices hereunder (i) shall be in writing and
hand-delivered or sent by first-class mail, postage prepaid, return receipt
requested, or facsimile transmission and shall be addressed to the intended
recipient at its address set forth on the signature page hereof or at such other
address as such party shall have last specified by notice to the other party and
(ii) shall be effective (a) if delivered by hand or sent by overnight courier,
on the day it is delivered, unless delivery is made after the close of business
or on a day that is not a Business Day, in which case such notice will be
effective on the next Business Day, (b) if sent by certified or registered mail
or the equivalent (return receipt requested), three Business Days after
dispatch, or (c) if sent by facsimile transmission, on the date that
transmission is received by a responsible employee of the recipient in legible
form (it being agreed that the burden of proving receipt will be on the sender
and will not be met by a transmission report generated by the sender's facsimile
machine).

               5. Governing Law. This letter agreement shall be governed by and
construed in accordance with the laws of the State of New York.

               6. Assignments. Neither party shall have the right to assign its
rights or delegate its obligations under this letter agreement without the prior
written consent of the other party; provided, however, that, the Counterparty's
rights hereunder may be assigned as described herein and pledged by the Issuer
to the Indenture Trustee.

               7. Set-off; Counterclaim. Notwithstanding any other provision of
any other agreement to the contrary, all payments under this letter agreement
will be made without set-off

<PAGE>

                                                                            6

or counterclaim, except that, if the Counterparty fails to pay any Premium
pursuant to Section 2 hereof in respect of any New Fixed Rate Lease when due,
JPMorgan Chase will not be obligated to pay to or at the direction of the Issuer
pursuant to Section 3 hereof on any Payment Date following a Calculation Period
during which the Notional Principal Amount was calculated based on the amount
set forth in clause (a) of the definition thereof, an amount equal to the lesser
of the Excess Cap Payment and the portion of the Cap Payment on such Payment
Date attributable to the Unit Balance of such New Fixed Rate Lease.

               8. Each Party's Reliance on its own Judgment. Each party has
entered into this Rate Cap Transaction solely in reliance on its own judgment.
Neither party has any fiduciary obligation to the other party relating to this
Rate Cap Transaction. In addition, neither party has held itself out as
advising, or has held out any of its employees or agents as having the authority
to advise, the other party as to whether or not the other party should enter
into this Rate Cap Transaction, any subsequent actions relating to this Rate Cap
Transaction or any other matters relating to this Rate Cap Transaction. Neither
party shall have any responsibility or liability whatsoever in respect of any
advice of this nature given, or views expressed, by it or any of such persons to
the other party relating to this Rate Cap Transaction, whether or not such
advice is given or such views are expressed at the request of the other party.

               9. Early Termination. If the short-term credit rating of JPMorgan
Chase falls below A-1 by Standard & Poor's or P-1 by Moody's or the long-term
unsecured credit rating of JPMorgan Chase falls below A+ by Standard & Poor's or
Aa3 by Moody's and within 30 days of such decline in credit rating, JPMorgan
Chase shall not have provided some form of collateral for its obligations
hereunder and satisfied the Rating Agency Condition with respect to such
arrangement, the Counterparty shall have the right, upon five (5) Business Days
written notice to JPMorgan Chase, to terminate this Rate Cap Transaction. The
Counterparty's right to terminate this Rate Cap Transaction pursuant to the
preceding sentence is conditioned upon the Counterparty having obtained, and
there being maintained as of the time of such termination, the Series 2002-2
Required Lease Rate Cap (determined without giving effect to this Rate Cap
Transaction).

               10. WAIVER OF JURY TRIAL. THE PARTIES HERETO HEREBY KNOWINGLY AND
INTENTIONALLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL
ACTION OR PROCEEDING RELATING TO THIS LETTER AGREEMENT OR FOR ANY COUNTERCLAIM
THEREIN.

               Please confirm that the foregoing correctly sets forth the terms
and conditions of our agreement by responding within three (3) Business Days by
returning via facsimile an executed copy of this letter agreement to the
attention of Michaela Ludbrook, fax no. (212) 834-6187.

               Duplicate hard copies of this letter agreement will be sent to
you shortly. Upon receipt, please execute both copies and return one to JPMorgan
Chase to the address indicated below.

<PAGE>
                                                                            7

               JPMorgan Chase is pleased to have concluded this transaction with
you.

                                  Very truly yours,

                                  JPMORGAN CHASE BANK

                                  By:
                                     -----------------------------------
                                     Name:
                                     Title:

                                  Address for Notices:
                                  270 Park Avenue, 8th Floor
                                  New York, NY 10017
                                  Attention: Michaela Ludbrook
                                  Facsimile No.: (212) 834-6187

<PAGE>

                                                                            8

                                  ACCEPTED AND AGREED:

                                  PHH CORPORATION

                                  By:
                                     -----------------------------------
                                     Name:
                                     Title:

                                  Address for Notices:
                                  307 International Circle
                                  Hunt Valley, Maryland 21030
                                  Attn:  Brad Howatt
                                  Fax No: (410) 771-3362<PAGE>

                                                                    Exhibit 10.1

                          PURCHASE AND SALE AGREEMENT

     THIS PURCHASE AND SALE AGREEMENT ("AGREEMENT") is entered into as of the
Effective Date (as herein defined) between TCP RENAISSANCE PARTNERS, L.P.
("SELLER") and SOUTHWEST BANK OF TEXAS, N.A. ("PURCHASER").

                              W I T N E S S E T H:

     In consideration of the mutual covenants set forth herein and in
consideration of the earnest money deposit herein called for, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

     SECTION 1.  SALE AND PURCHASE. Seller shall sell, convey, and assign to
Purchaser, and Purchaser shall purchase and accept from Seller, for the Purchase
Price (hereinafter defined) and on and subject to the terms and conditions
herein set forth, the following:

          (a)  The tract or parcel of land situated at 1801 Main, in the City of
     Houston, Harris County, Texas, as more particularly described in EXHIBIT
     "A" hereto (the "OFFICE BUILDING PROPERTY"), and the leasehold estate in
     and to that certain tract of land situated in Harris County, Texas, which
     is more particularly described on EXHIBIT "A-1" hereto (the "GROUND LEASE
     PROPERTY") and created pursuant to that certain Indenture of Lease with
     Options to Purchase (the "GROUND LEASE") dated November 14, 1963, between
     the Scanlan Foundation and Nineteen Hundred Main Corporation, together with
     all rights and interests appurtenant thereto, including all of Seller's
     right, title, and interest in and to adjacent streets, alleys,
     rights-of-way, and any adjacent strips or gores of real estate (the Office
     Building Property and the Ground Lease Property herein being collectively
     called the "LAND"); all improvements located in or on the Land, including
     without limitation the office building commonly known as the 1801 Main
     Building containing approximately 219,052 "net rentable" square feet of
     office space, the parking facilities and related improvements and fixtures
     (the "IMPROVEMENTS" and, separately, those located on the Ground Lease
     Property being herein called the "GROUND LEASE IMPROVEMENTS"); and all
     rights, titles, and interests appurtenant to the Property, the Ground Lease
     Property, and the Improvements (collectively, all of the foregoing,
     excluding the fee ownership of the Ground Lease Property, being herein
     called the "REAL PROPERTY");

          (b)  All tangible personal property of any kind owned by Seller that
     is located on and used in connection with the ownership, maintenance, or
     operation of the Real Property (the "PERSONALTY"), including without
     limitation those items described in EXHIBIT "B" hereto, subject to Seller's
     right to the adjustment of such list for replaced and/or obsolete
     Personalty between the Effective Date of this Agreement and the Closing as
     and to the extent expressly provided in this Agreement;

          (c)  All interest as lessor, landlord, or real property owner in and
     to all leases or other agreements demising space in, providing for the use
     or occupancy of the Improvements or Land (collectively the "LEASES" and
     individually a "LEASE") with tenants (collectively the "TENANTS" and
     individually a "TENANT") occupying or entitled to occupy or use the Real
     Property, or any portion thereof, all rents (including, without

<PAGE>
     limitation, rent escalations) prepaid for any period subsequent to the
     Closing Date (hereinafter defined), and all deposits, security, letters of
     credit (Seller's obligation will be to complete and deliver by Closing
     paperwork required to effect the transfer, although the actual transfer or
     reissuance may not occur until after Closing, it being agreed that Seller's
     obligations to cooperate in effectuating such transfer will survive
     Closing), or otherwise ("DEPOSITS"), made by or on behalf of Tenants
     holding under the Leases, which Leases include, without limitation, that
     certain Lease Agreement dated as of December 21, 1999, between Seller, as
     "Landlord," and Purchaser, as "Tenant," relating to Purchaser's lease and
     occupancy of a large portion of the Building (as amended, separately the
     "SWBOT LEASE");

          (d)     All of Seller's right, title and interest in and to all (i)
     contracts or agreements, such as maintenance, service, utility contracts,
     the FPPC Commission Agreement and A&M Commission Agreement as defined in
     Section 2(b) hereof, and all leases under which Seller is the lessee for
     the leasing of equipment or other property located on and used exclusively
     in connection with the Real Property (the foregoing to specifically exclude
     any property management or property leasing agreements with Seller's
     manager or leasing agent for the Property, collectively the "PROPERTY
     AGREEMENTS"), (ii) warranties, guaranties, indemnities, and claims, (iii)
     licenses, franchise, permits, or similar documents, (iv) telephone
     exchanges, trade names, marks, and other identifying materials, including
     without limitation the trade name "1801 Main Building," (v) any plans,
     drawings, specifications, surveys, engineering reports, and other technical
     information, and (vi) other intangible property that relates, in any way,
     to the design, construction, ownership, use, leasing, maintenance, service,
     or operation of the Land, Improvements, Ground Lease Improvements, Leases,
     Deposits, or Personalty, subject to obtaining any necessary consents to
     transfer such items (which Seller agrees to use reasonably diligent efforts
     to obtain by Closing, but without any obligation to pay any sum to obtain
     such consents).

The above-listed items are hereby collectively called the "PROPERTY." All of
the Property shall be conveyed, assigned, and transferred to Purchaser at
Closing (hereinafter defined) free and clear of all liens, claims, easements,
and encumbrances whatsoever except for the Permitted Encumbrances (hereinafter
defined) and in the condition required by this Agreement.

     SECTION 2. PURCHASE PRICE.

          (a)     Subject to the terms and provisions hereof, the price for
     which Seller shall sell and convey the Property to Purchaser, and which
     Purchaser shall pay to Seller is Twenty-Five Million One Hundred Ninety
     Thousand and No/100 Dollars ($25,190,000.00) ("PURCHASE PRICE"), to be paid
     in cash at Closing. For purpose of this Contract, "cash" means the same as
     "good funds" as defined in applicable Texas title insurance regulations
     governing the type of funds which may be accepted by the Title Company for
     closing and disbursement of an insured real estate transaction.

          (b)     In addition to the Purchase Price set forth in Section 2(a)
     herein, Purchaser will be required to reimburse Seller at Closing, in cash,
     for the A&M Leasing Costs and the FPPC Leasing Costs as defined herein. For
     purposes hereof, "A&M LEASING COSTS"

                                       2

<PAGE>
     means the Seller-certified and reasonably documented cost of tenant
     improvements, the other improvements and fees and brokerage commissions
     paid or incurred by Seller as landlord under the A&M Lease (as below
     defined), other than the Additional Allowance (which the parties
     acknowledge will not be actually expended by Seller prior to Closing), to
     the extent actually paid or expended by Seller prior to Closing in respect
     of the A&M Lease (as below defined), but in no event will such
     reimbursement exceed the amount of $910,000. For purposes hereof, the "FPPC
     LEASING COSTS" means the Seller-certified and reasonably documented cost of
     tenant improvements, the other improvements and fees and brokerage
     commissions paid or incurred by Seller as landlord under the FPPC Lease (as
     below defined), to the extent actually paid or expended by Seller prior to
     Closing in respect of the FPPC Lease, but in no event will such
     reimbursement exceed the amount of $65,000. The Commission Agreement dated
     May 1, 2002, between Seller and Coldwell Banker Commercial American
     Spectrum (Pat Pollen,Agent) pertaining to the FPPC Lease is herein called
     the "FPPC COMMISSION AGREEMENT," and the Commission Agreement entered into
     between Seller and Cushman Wakefield of Texas, Inc., and Gholson Commercial
     Ventures, Inc., dated May 6, 2002, is herein called the "A&M COMMISSION
     AGREEMENT."

          (c) For purposes of this Agreement (i) the "A&M Lease" means, when
     executed, that certain occupancy lease dated as of May 8, 2002, by and
     between Seller, as lessor, and The Texas A&M University System (for the
     Benefit of the Prairie View A&M University School of Nursing), as lessee,
     and (ii) the "FPPC LEASE" means that one certain Lease Agreement dated to
     commence on or about May 1, 2002, between Seller, as landlord, and Ferrer,
     Poirot, PC, as lessee, leasing Suite 970 containing approximately 3,052
     square feet of rentable area on the ninth floor in the Building.

     SECTION 3. EARNEST MONEY. Upon execution by both parties, Purchaser shall
deliver to Charter Title Company, 4265 San Felipe, Suite 350, Houston, Texas
77027 (Attn: Mr. Jim Johnson, Escrow Officer) (the "TITLE COMPANY"), a check in
the amount of One Hundred Thousand and No/100 Dollars ($100,000.00), which the
Title Company shall immediately deposit for collection. As used in this
Agreement, the term "EARNEST MONEY" shall mean the amount so deposited by
Purchaser, together with all interest earned thereon while in the custody of
Title Company. Title Company shall immediately deposit the Earnest Money in an
interest-bearing account until the Earnest Money is delivered pursuant to the
provisions hereof. The Title Company and Chicago Title Insurance Company, 5858
Westheimer, Suite 301, Houston, Texas 77057, Attention: Tom Lykos, will split
equally the title insurance premiums and other fees from the Owner's Policy
(including the leasehold title policy portion even if issued as a separate
policy), and the Title Company will allow Chicago Title Company to perform such
services in connection with this Closing as are necessary for Chicago Title
Company to earn such split premium. Seller and Purchaser stipulate that
Purchaser's agreement to so deposit the Earnest Money is sufficient
consideration to support this Agreement notwithstanding Purchaser's rights under
Section 5 hereof; however, if Purchaser does not timely deposit the Earnest
Money, then this Agreement shall terminate and be of no further force or effect.

     SECTION 3.A INDEPENDENT CONTRACT CONSIDERATION. The sum of $100.00 of the
Earnest Money shall be held by the Title Company and delivered to Seller either
(i) at closing as

                                       3
<PAGE>
part of the Purchase Price, or (ii) upon termination of this Agreement. Such
$100.00 sum being consideration for this Agreement and being non-refundable to
Purchaser in any event.

     SECTION 4. DELIVERY OF INFORMATION BY SELLER.

          (a) Seller, at its sole cost and expense, has previously delivered or
     caused to be delivered to Purchaser the following:

               (1) Commitment for Title Insurance ("TITLE COMMITMENT") from the
          Title Company setting forth the status of the title of the Office
          Building Property, the Improvements, and the ground lessee's interest
          under the Ground Lease in and to the Ground Lease Property, showing
          all liens, claims, encumbrances, easements, rights-of-way,
          encroachments, reservations, restrictions and all other matters of
          record affecting such Real Property based on the Title Company's title
          examination of each such tract and/or interest in Real Property; and

               (2) A true, complete and legible copy of all documents referred
          to in the Title Commitment ("TITLE COMMITMENT DOCUMENTS").

     The Title Company is directed to deliver a copy of the Title Commitment and
     Title Documents to Seller, Purchaser and their counsel (as per the notice
     provisions hereof) simultaneously.

          (b) Within three (3) business days after the Effective Date, Seller,
     at its sole cost and expense, shall deliver to Purchaser a current survey
     ("SURVEY") of the Land consisting of a plat and field notes prepared by a
     licensed surveyor acceptable to Purchaser and Title Company, which Survey
     shall state that it meets the conditions and requirements of a Category 1A,
     Condition II Survey per the Surveying Standards and Specifications of the
     Texas Society of Professional Surveyors and, at Purchaser's option as it
     may elect (i) reflect the actual dimensions of, and area within, the Land,
     the location of any easements, setback lines, encroachments or overlaps
     thereon or thereover, and the outside boundary lines of all Improvements
     and the Ground Lease Improvements (ii) identify by recording reference all
     easements, set back lines and other matters referred to in the Title
     Commitment, (iii) include the surveyor's registered number and seal, the
     date of the Survey and a certificate satisfactory to Purchaser, (iv)
     reflect that there is access to and from the Land from a publicly dedicated
     street or road, (v) be sufficient to cause the Title Company to delete
     (except for "shortages in area") the printed exception for "discrepancies,
     conflicts or shortages in area or boundary lines, or encroachments, or any
     overlapping of improvements" in the Owner's Title Policy to be delivered
     pursuant to Section 8 hereof, (vi) reflect any area within the Land that
     has been designated by the Federal Insurance Administration, the Army Corps
     of Engineers, or any other governmental agency or body as being subject to
     special or increased flooding hazards, and (vii) contain such other
     information as Purchaser may elect. At least two copies of the Survey will
     be delivered to each Seller, Purchaser and their counsel promptly upon its
     receipt by Seller. For purposes of the property description to be included
     in the special warranty deed to be delivered pursuant to Section 8 hereof,
     the field notes prepared by the surveyor shall control any conflicts or
     inconsistencies with EXHIBIT "A" hereto, and

                                       4
<PAGE>

     such field notes shall be incorporated herein by this reference upon their
     completion and approval by Purchaser provided that there is no material
     discrepancy between the description contained in the Survey prepared by
     Purchaser and the description initially provided on EXHIBIT "A" hereto,
     but if any land is contained in the description of the Office Building
     Property prepared by Purchaser's surveyor that is not contained in the
     description on EXHIBIT "A" hereto then Seller shall quitclaim to Purchaser
     all right, title and interest of Seller, if any, in and to such additional
     lands. The Ground Lease Assignment will not contain a legal description of
     the Ground Lease Property, but rather will refer to the Ground Lease
     Property solely by reference to the description contained in original
     recorded instrument in the Harris County Real Property Records evidencing
     the existence of the Ground Lease.

          (c)   Seller, at its sole cost and expense, has heretofore delivered
     to Purchaser current searches of all Uniform Commercial Code financing
     statements filed with the Office of the Secretary of State of Texas and
     the County Clerk of Harris County, Texas, against Seller reflecting all
     effective financing statements then of record relating to the Property or
     any part thereof.

          (d)  Prior to the date hereof, Seller represents that it has, at its
     sole cost and expense, delivered to Purchaser (i) Copies of the Ground
     Lease relating to the Ground Lease Property (except documents of record,
     which will be part of the Title Commitment Documents); (ii) Copies of all
     existing Leases, including all amendments, letter agreements, and
     guaranties, if any, relating thereto; (iii) Operating Statements for the
     Building for the past two years, including copies of ad valorem tax
     statements for the past two years, and any notice or correspondence
     actually received by Seller relating to assessed valuation for the year
     2002; (iv) Copies of all Property Agreements; (v) Copies of all third-party
     prepared engineering and environmental inspections, soil reports,
     maintenance inspections and equipment reports prepared for Seller in
     relation to the Building and its operation; (vi) To the extent in Seller's
     possession or reasonably under its control, as-built plans and
     specifications of the Real Property; (vii) Brief summary of any and all
     pending lawsuits related to the Real Property if involving Seller as a
     party; (viii) To the extent in Seller's possession or reasonably under its
     control, copies of any current certificates of occupancy (or compliance)
     that have been issued for the Real Property; and (ix) To the extent
     actually received by Seller, copies of notices regarding condemnation,
     noncompliance with laws or regulations, and insurance cancellations, if
     any, relating to the Property. The documents described in this Section 4(d)
     are herein collectively called the "DOCUMENTS," and the information
     contained in the Documents is herein collectively called the "INFORMATION."
     Notwithstanding anything to the contrary or apparent contrary herein, no
     Documents or Information shall ever be required to include attorney-client
     privileged communications. Purchaser agrees that it will not in any manner
     rely on any of the Operating Statements or other financial history of the
     Property as provided by Seller hereunder, which shall be deemed of
     non-material effect for all purposes, and will instead, at Purchaser's own
     risk, rely only on its own evaluation of expected operating expense and
     income and/or on the opinion and/or projections of experts hired by
     Purchaser to evaluate the same (if Purchaser feels it cannot make such
     forecasts or projections with reasonable accuracy on its own).

                                       5

<PAGE>

     SECTION 5.  RIGHT OF INSPECTION; CONTINGENCY PERIOD.

          (a)  From the Effective Date until Closing, Purchaser shall have the
     right and option to enter upon the Real Property (except Purchaser may not
     enter any third-party Tenant space except as may be permitted pursuant to
     such Tenant's Lease and then only upon prior arrangement through Seller)
     and to conduct any and all further inspections, studies and tests,
     including, but not limited to, engineering studies, soil tests and analyses
     (geotechnical studies only, not environmental core sampling or ground water
     drilling or sampling except as approved by Seller as provided below),
     utilities analyses and surveys, service contracts, plans and specifications
     and physical inspections of, on and with respect to the Property
     (collectively, the "TESTS AND INSPECTIONS") as Purchaser, in Purchaser's
     sole discretion, determines to be necessary or appropriate; provided,
     however, that such Tests and Inspections do not interfere in any material
     respect with any work being performed by Lessor or Lessor's contractors or
     subcontractors in or about the Property or with the operation of the
     Property or with any Tenant rights, nor shall any Test or Inspection result
     in material damage, injury or defacement of any part of the Property, and
     the Tests and Inspections shall be at Purchaser's sole cost and expense. It
     is expressly understood and agreed that any so-called "phase two"
     environmental testing of the Real Property (other than non-destructive
     sampling of materials suspected of being asbestos-containing), including,
     without limitation, soil and water table sampling and installation of
     ground water monitoring or sampling wells, shall be considered destructive
     and shall require special written permission of Seller in each instance.
     Seller hereby agrees to reasonably cooperate with Purchaser and to provide
     Purchaser with such information and documentation in Seller's actual
     possession as Purchaser reasonably requests in order to assist Purchaser in
     making the Tests and Inspections. Purchaser's entry onto the Property to
     conduct such Tests and Inspections shall be at Purchaser's sole risk,
     subject to the rights of persons in possession of the Property. Except as
     otherwise provided in the next sentence, Purchaser shall and hereby agrees
     to indemnify, defend and hold harmless Seller, its agents, employees,
     lenders and affiliates, from and against any and all, claims, liabilities,
     actions, suits, proceedings, judgments, damages, losses, injury, costs,
     fees and expenses, including, without limitation, costs of court and
     attorney's fees, arising in any way out of or in connection with any
     activities of Purchaser (or its agents and representatives) upon the
     Property in connection with inspecting, studying and/or investigating the
     Property, and Purchaser shall immediately restore any portion of the
     Property disturbed by any such Tests or Inspections to the condition
     existing immediately prior to such Test or Inspection procedure.
     Notwithstanding the foregoing, in no event will Purchaser be liable under
     the preceding sentence for claims, liabilities, actions, suits,
     proceedings, judgments, damages, losses, injury, costs, fees and expenses,
     including, without limitation, costs of court and attorneys' fees, arising
     from or in connection with the pre-existing conditions even if the Tests or
     Inspections aggravated or activated same, unless resulting from the gross
     negligence or willful or wanton neglect of Purchaser or its contractors or
     consultants. Notwithstanding anything to the contrary or apparent contrary
     elsewhere in this Agreement, the indemnity, defense and repair obligations
     of Purchaser under the Section shall survive for six (6) months the
     expiration or termination of this Agreement for any reason. Nothing in this
     Section 5(a) shall be deemed to give Purchaser any right to terminate this
     Agreement that is not expressly stated in Section 5(b) hereof.

                                       6
<PAGE>
          (b) If for any reason Purchaser, in its sole and absolute discretion,
     is not satisfied with the physical condition of the Improvements, or any
     matter in the Documents, or any part of the Information or is otherwise not
     satisfied with the Property, or is not allowed to undertake the Tests and
     Inspections desired, then Purchaser shall have the right to terminate this
     Agreement in accordance with Section 12(b) hereof, by delivering to Seller
     a notice of termination at any time during the period from the Effective
     Date hereof until the end of the day one business day immediately preceding
     the Closing Date ("CONTINGENCY PERIOD").

     SECTION 6. TITLE. Purchaser shall have the right, at any time by the end of
the second business day prior to expiration of the Contingency Period, to object
in writing to any liens and encumbrances reflected by the Title Commitment or
Survey. All liens and encumbrances to which Purchaser so objects are hereinafter
referred to as the "NON-PERMITTED ENCUMBRANCES", if no such notice of objection
is given by Purchaser during such time, then it shall be deemed that all matters
reflected by the Survey and Title Commitment are "PERMITTED ENCUMBRANCES."
Seller shall have the right, but not the obligation, at its sole cost, to cure
or remove all Non-Permitted Encumbrances and give Purchaser written notice
thereof before the end of the Contingency Period (if Seller fails to give such
notice to Purchaser by the day prior to the end of the Contingency Period,
Seller shall be deemed to have notified Purchaser that it will not cure any such
items except those hereinbelow described as being items that Seller must remove
at or by Closing); provided, however, that Seller at its sole cost shall be
obligated to cure or remove at or before Closing the following ("MANDATORY CURE
ITEMS"): (A) all mortgages, deeds of trust, or other voluntary liens securing
financial obligations that have been created, or knowingly assumed, by Seller or
anyone acting on behalf of Seller and (B) materialmen's liens or lien claims
("M&M LIEN CLAIMS") to the extent such M&M Lien Claims do not, in the aggregate
exceed $250,000, whether or not Purchaser objects thereto during the period
provided above for Purchaser making objections. If Seller does not timely cause
all of the Non-Permitted Encumbrances to be removed or cured, and timely written
notice thereof to be given to Purchaser, then Purchaser, as its sole and
exclusive remedy (other than its right to require removal of Mandatory Cure
Items on or prior to Closing and hold Seller in default by reason of its failure
to do so), shall have the right either (i) to terminate this Agreement in
accordance with the Section 12(b) hereof by delivering notice to Seller before
the end of the Contingency Period, or (ii) to elect to purchase the Property
subject to the Non-Permitted Encumbrances without reduction of the Purchase
Price, in which event all such uncured Non-Permitted Encumbrances (other than
Mandatory Cure Items) shall become Permitted Encumbrances for purposes hereof.

     SECTION 7. SELLER'S EXCLUSIVE (LIMITED) REPRESENTATIONS AND WARRANTIES;
OPERATING COVENANTS OF SELLER; TENANT ESTOPPELS AND GROUND LEASE ESTOPPEL.

          (a) EXCEPT FOR THE EXPRESS (LIMITED) WARRANTIES OF SELLER CONTAINED
     HEREIN, AND THE SPECIAL WARRANTY OF TITLE AND NO ENCUMBRANCES TO BE
     CONTAINED IN THE DEED OR OTHER CLOSING DOCUMENTS, PURCHASER ACKNOWLEDGES
     AND AGREES THAT SELLER HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES
     AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS,
     AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER
     EXPRESS OR IMPLIED,

                                       7
<PAGE>
     ORAL OR WRITTEN, PAST, PRESENT, OR FUTURE, OF, AS TO, CONCERNING OR WITH
     RESPECT TO (A) THE VALUE, NATURE, QUALITY OR CONDITION OF THE PROPERTY,
     INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL AND GEOLOGY OF THE REAL
     PROPERTY, (B) THE INCOME TO BE DERIVED FROM THE PROPERTY, (C) THE
     SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES AND USES WHICH
     PURCHASER MAY CONDUCT OR DESIRE TO CONDUCT THEREON OR THEREWITH, AND THE
     SUITABILITY OF THE REAL PROPERTY FOR CONSTRUCTION OF IMPROVEMENTS OR THE
     AVAILABILITY OF UTILITIES TO THE PROPERTY, (D) THE COMPLIANCE OF OR BY THE
     PROPERTY OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS
     OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY, INCLUDING, WITHOUT
     LIMITATION, BUILDING, FIRE AND SAFETY CODES, (E) THE HABITABILITY,
     MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR
     PURPOSE OF THE PROPERTY, (F) THE MANNER OR QUALITY OF THE CONSTRUCTION OR
     MATERIALS, IF ANY, INCORPORATED INTO THE PROPERTY, (G) THE QUALITY, STATE
     OF REPAIR OR LACK OF REPAIR OR CONDITION OF THE PROPERTY, (H) THE QUALITY,
     ENFORCEABILITY, ASSIGNABILITY, VALUE DESIRABILITY OF TERMS, AND/OR LEGAL
     INTERPRETATION OF ANY PART OF THE PROPERTY THAT IS COMPRISED OF
     INTANGIBLES, AND (H) ANY OTHER MATTER WITH RESPECT TO THE PROPERTY OR THE
     AREA IN WHICH IT IS LOCATED. EXCEPT FOR THE ABOVE EXPRESS (LIMITED)
     WARRANTIES OF SELLER, SELLER HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY
     DISCLAIMS ANY REPRESENTATIONS REGARDING WHETHER THE PROPERTY DOES OR DOES
     NOT CONTAIN ANY HAZARDOUS, TOXIC OR REGULATED MATERIALS, INCLUDING SOLID
     WASTE, AS DEFINED BY THE U.S. ENVIRONMENTAL PROTECTION AGENCY REGULATIONS
     AT 40 C.F.R., PART 261, OR REGARDING WHETHER THE PROPERTY COMPLIES WITH ANY
     ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS,
     ORDERS OR REQUIREMENTS, OR THE DISPOSAL OR EXISTENCE, IN OR ON THE
     PROPERTY, OF ANY HAZARDOUS SUBSTANCE, AS DEFINED BY THE COMPREHENSIVE
     ENVIRONMENTAL RESPONSE COMPENSATION AND LIABILITY ACT OF 1980, AS AMENDED,
     AND REGULATIONS PROMULGATED THEREUNDER, OR HAZARDOUS, TOXIC OR OTHER
     DANGEROUS SUBSTANCES WITH STORAGE, USE, DISPOSAL OR TRANSPORTATION OF WHICH
     IS GOVERNED OR REGULATED BY ANY LOCAL, STATE OR FEDERAL LAW OR REGULATION.
     EXCEPT FOR THE EXPRESS WARRANTY OF TITLE AND NO ENCUMBRANCES TO BE
     CONTAINED IN THE DEED OR OTHER CLOSING DOCUMENTS, PURCHASER FURTHER
     ACKNOWLEDGES AND AGREES THAT, HAVING BEEN GIVEN THE OPPORTUNITY TO INSPECT,
     INVESTIGATE AND TEST THE PROPERTY PRIOR TO EXECUTION OF THIS AGREEMENT,
     PURCHASER IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE

                                       8

<PAGE>

     PROPERTY AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER.
     PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT ANY INFORMATION PROVIDED OR
     TO BE PROVIDED BY SELLER WITH RESPECT TO THE PROPERTY WAS OBTAINED FROM A
     VARIETY OF SOURCES AND THAT SELLER HAS ADVISED PURCHASER THAT IT HAS NOT
     MADE ANY INDEPENDENT INVESTIGATION OR VERIFICATION OF SUCH INFORMATION AND
     MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR COMPLETENESS OF SUCH
     INFORMATION. SELLER IS NOT LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR
     WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE
     PROPERTY, OR THE OPERATION THEREOF, FURNISHED BY ANY REAL ESTATE BROKER,
     AGENT, EMPLOYEE, SERVANT OR OTHER PERSON, UNLESS CONTAINED HEREIN OR IN A
     DULY EXECUTED WRITTEN AMENDMENT HERETO. OTHER THAN AS ABOVE PROVIDED, THE
     SALE OF THE PROPERTY IS MADE ON AN "AS IS" CONDITION AND BASIS "WITH ALL
     FAULTS." IT IS UNDERSTOOD AND AGREED THAT THE PURCHASE PRICE HAS BEEN
     ADJUSTED BY PRIOR NEGOTIATION TO REFLECT THAT ALL OF THE PROPERTY IS SOLD
     BY SELLER AND PURCHASED BY PURCHASER SUBJECT TO THE FOREGOING. THE
     DISCLAIMERS AND OTHER PROVISIONS OF THIS SECTION 7(a) SURVIVE CLOSING.

          (b)  Seller hereby represents and warrants to Purchaser, as its sole
     and exclusive representations and warranties to Seller pertaining to this
     transaction, that:

               (i)  Seller has full right, power, and authority to execute and
          deliver this Agreement and to consummate the purchase and sale
          transactions provided for herein without obtaining any further
          consents or approvals from, or the taking of any other actions with
          respect to, any third parties. This Agreement, when executed and
          delivered by Seller and Purchaser, will constitute the valid and
          binding agreement of Seller, enforceable against Seller in accordance
          with its terms.

               (ii)  To Seller's actual knowledge (as defined and limited
          hereinbelow) only, Seller owns the Office Building Property and
          Improvements in fee simple and holds the entire interest of the tenant
          under the Ground Lease Property, free and clear of all liens (except
          the Permitted Encumbrances), and no party, except as herein set forth,
          has or shall have on the Closing Date any rights in, or to acquire,
          the Office Building Property, the Improvements or the Ground Lease.

               (iii)  To Seller's actual knowledge only, a certificate of
          occupancy has been duly issued with regard to the Improvements.

               (iv)  Seller is the owner of all of the Personalty, free and
          clear of all liens (except the Permitted Encumbrances).

                                       9
<PAGE>

               (v)  Attached hereto as EXHIBIT "C" is the standard "TENANT RENT
          ROLL" that has been prepared by Seller's third-party management agent
          for the Property, which Seller has no actual knowledge is incorrect in
          any material respect. Except as provided below in this subparagraph
          and except for the SWBOT Lease: (1) to Seller's actual knowledge, the
          Leases described in the Tenant Rent Roll are in effect and, to
          Seller's current actual knowledge, no material uncured breach or
          default exists on the part of the landlord or Tenant thereunder; and
          (2) such Leases and related agreements provided by Seller to Purchaser
          constitute the only agreements between Seller and such Tenants.
          Qualifications to the foregoing are as follows: any contrary matter
          disclosed in the Tenant Rent Roll(s) and/or the A/R Listing (or
          updates) delivered by Seller to Purchaser hereunder.

               (vi)  The current "Aged Receivables Listing" of the Property
          attached hereto as EXHIBIT "C-1" (the "A/R LISTING") is true and
          correct in all material respects as of the date indicated thereon;
          provided, however, that Seller does not guarantee that no Tenant will
          debate or request to audit to determine whether particular sums are
          in fact correctly calculated or due under such Tenant's Lease;

               (vii)  To Seller's actual knowledge at the time of their
          delivery, the Documents delivered by Seller to Purchaser hereunder
          will be complete copies of all Documents required to be delivered by
          Seller hereunder.

               (viii)  There are no actions, suits, claims, assessments, or
          proceedings pending to Seller's actual knowledge only, or overtly
          threatened against Seller or the Property that could materially
          adversely affect the ownership, operation, or maintenance of the
          Property or Seller's ability to perform hereunder.

               (ix)  Attached hereto as EXHIBIT "E" is a complete and correct
          list of all Property Agreements.

               (x)  To Seller's actual knowledge only, the Real Property has
          not been the site of any activity that would violate any past or
          present environmental law or regulation of any governmental body or
          agency having jurisdiction over the Real Property, and specifically,
          but without limitation, to Seller's actual knowledge only (1) solid
          waste, petroleum, or petroleum products have not been leaked or
          spilled onto the Real Property or contaminated the Real Property,
          and (2) no "hazardous materials" or "toxic substances" in the
          Comprehensive Environmental Response, Compensation and Liability Act
          of 1980; the Hazardous Materials Transportation Act; and the
          Resources Conversation and Recovery Act, all as amended, have been
          leaked or spilled onto the Real Property or contaminated the Real
          Property.

               (xi)  Other than with respect to work performed under the TI
          Construction Contracts (i) Seller has no actual knowledge of any
          third party having filed or threatened to file a lien or lien claim
          against the Property that has not previously been fully resolved to
          the satisfaction of the lien claimant, and (ii)

                                       10
<PAGE>
          Seller has not contracted for any material quantity of construction
          work on the Property that could give rise to a mechanic's or
          materialman's lien claim except work completed and paid for by Seller
          in full prior to January 31, 2002.

     For purposes hereof, "SELLER'S ACTUAL KNOWLEDGE" shall mean and include
     only the actual personal knowledge of David A. Thomas or Robert B. Neely,
     without inquiry or investigation of any kind other than that (if any)
     heretofore done by Seller to the extent the same is within in the actual
     personal knowledge either of the two individuals named above, and expressly
     excludes implied, imputed or constructive knowledge of Seller or such
     individuals.

     If (i) any of Seller's representations and warranties set forth in this
     Section 7 are untrue in any material respect, or (ii) at any time at or
     before Closing there is any material change with respect to the matters
     represented and warranted by Seller pursuant to this Section 7 and such
     information becomes part of Seller's actual knowledge as defined herein,
     then Seller shall give Purchaser prompt written notice thereof, and
     Purchaser shall have the right to terminate this Agreement in accordance
     with Section 12(b) hereof by delivering notice to Seller at any time at or
     before the Closing. All of Seller's express representations and warranties
     herein (as re-given by Seller at Closing as modified to accommodate changes
     in Seller's actual knowledge between the Effective Date and Closing) shall
     survive the Closing for a period of one (1) year (such that any claim of
     Purchaser for misrepresentation or breach of warranty by Seller that is not
     discovered and brought to Seller's attention in writing within that
     one-year period shall be deemed not to have survived Closing), except that
     the representation and warranty in Section  7(b)(ii) will not survive
     Closing and will be deemed merged out of existence by delivery of the Deed
     and other Closing documents hereunder.

          (c)  From the Effective Date hereof until the Closing Date, Seller
     shall: (i) maintain and operate the Property in a good and businesslike
     manner in accordance with good and prudent business practices, but shall
     not be obligated to make any specific repairs unless it determines the same
     to be necessary for its own liability purposes; (ii) use good faith efforts
     to continue all Leases, Property Agreements, and insurance policies
     relative to the Property in full force and effect, and neither cancel,
     amend, nor renew any of the same without Purchaser's prior written consent,
     which consent shall not be unreasonably withheld; provided, however, that
     Seller may, if it so elects, without Purchaser's consent (A) cancel, amend
     or renew any Property Agreement in the ordinary course of Seller's
     business, provided that Seller shall give Purchaser prompt notice and a
     copy of any document or letter accomplishing the same, and further provided
     that such renewal of a Property Agreement allows Seller (and its successor)
     to terminate without cost or expense upon no more than 30 days notice, (B)
     cancel, amend or renew any Lease in the ordinary course of Seller's
     business (including by reason of any Tenant default), up to ten (10) days
     prior to Closing, or up to Closing honor any tenant's exercise of any
     renewal/right of refusal or expansion option contained in any Lease (but if
     the rental rate for the renewal/right of refusal or expansion is subject to
     determination in Seller's sole and absolute discretion, Seller shall not
     agree to such renewal or expansion rate after the tenth (10th day prior to
     Closing), provided that in each of the foregoing cases Seller shall give
     Purchaser prompt notice and a copy of any document or letter accomplishing
     the

                                       11
<PAGE>

     same and upon receipt thereof Purchaser may cancel this Contact by written
     notice to Seller if the terms of such cancellation, renewal or expansion
     are not acceptable to Purchaser, and/or (C) renew or reasonably modify any
     insurance policy in the ordinary course of Seller's business; (iii) not
     destroy, remove or materially alter any of the Improvements, except tenant
     finish improvements inside Tenant space per the terms of any Lease; (iv)
     except as permitted by clause (ii) hereof or otherwise in the ordinary
     course of Seller's business and not creating any material interference with
     use and operation of the Property for its present use and operation, not,
     without the prior written consent of Purchaser (which shall not be
     unreasonably withheld), enter into any agreement or instrument or take any
     action that would encumber the Property after Closing, that would bind
     Purchaser or the Property after Closing, or that would be outside the
     normal scope of maintaining and operating the Property; and (v) not remove
     any item of the Personalty from the Land or Improvements unless it is
     replaced with an item of reasonably equal value that is properly suited for
     its intended purpose (in which event the inventory of Personalty will be
     amended accordingly). If Seller desires to obtain the consent to any matter
     for which Purchaser's consent is required or desired by Seller hereunder,
     Seller may request such consent in writing, accompanied by the appropriate
     proposed document, or a description of the proposed action, and if
     Purchaser fails to object thereto within five (5) business days of receipt
     of Seller's request, specifying the reasonable basis for Purchaser's
     disapproval, Purchaser shall be conclusively deemed to have approved of
     such document or action as described in Seller's notice. Notwithstanding
     the foregoing, however, Seller shall further be entitled to execute a
     construction contract for the construction of tenant improvements as
     required and/or contemplated under the A&M Lease (the "A&M CONSTRUCTION
     CONTRACT"), and a construction contact for the construction of tenant
     improvements as required and/or contemplated under the FPPC Lease (the
     "FPPC CONSTRUCTION CONTACT''), each in such form as Purchaser determines to
     be appropriate (though Purchaser will have a right to terminate this
     Agreement if it does not approve of the terms of such contracts), such
     construction contracts being herein collectively referred to as the "TI
     CONSTRUCTION CONTRACTS."

          (d)     Seller represents that prior to the date hereof, Seller has
     sent to each Tenant (except Purchaser), by regular mail or delivery, a
     Tenant Estoppel Certificate substantially in the form of EXHIBIT "H"
     attached hereto, requesting that such certificate be promptly executed and
     returned to Seller, and to the Ground Lease lessor, by regular mail or hand
     delivery, a Ground Lessor Estoppel Certificate substantially in the form of
     EXHIBIT "J" attached hereto, requesting that such certificate be promptly
     executed and returned to Seller. Within two (2) business days after the
     Effective Date and receipt from Purchaser of its requested estoppel form,
     as to the FPPC Construction Contract, and within two (2) business days
     after Seller's execution of the A&M Construction Contract as to that
     contact, Seller shall send to the contractor under the respective TI
     Construction Contracts TI Construction Contract Estoppel in the form
     reasonably requested by Purchaser, requesting that such certificate be
     promptly executed by the contractor and returned to Seller; provided,
     however, if any charge or reimbursement of legal fees of counsel is
     requested by the Ground Lease lessor as a condition to its consideration of
     such estoppel, Purchaser agrees to advance any funds required thereby and
     if any such costs are unpaid as of Closing Seller may require reimbursement
     by Purchaser at Closing

                                       12

<PAGE>

     as a condition to Closing. Seller shall use good faith efforts (without
     litigation, exercise of lease termination remedies or legal demand) to seek
     to have all such Tenant Estoppel Certificates and the Ground Lease Estoppel
     Certificate executed and delivered to Seller prior to Closing, but nothing
     contained constitutes any guarantee or promise by Seller that such
     certificates shall be executed or delivered as of the date of Closing.
     However, Purchaser may, at its option, terminate this Agreement if any such
     estoppels (including TI Construction Contract Estoppels) are not received
     by the Closing Date.

     SECTION 8. CLOSING. The closing ("CLOSING") of the sale of the Property by
Seller to Purchaser shall occur on or before May 31, 2002 ("CLOSING DATE"). Time
is of the essence with regard to the Closing Date. The Closing shall occur in
the offices of Seller's counsel commencing at 10:00 AM on the Closing Date. At
the Closing the following, which are mutually concurrent Closing conditions,
shall occur:

          (a)  Purchaser, at its sole cost and expense, shall deliver or cause
     to be delivered to Seller the following:

               (1)  Cashier's check, or the check of the Title Company, made
          payable to the order of Seller, or immediately available cash funds,
          in the amount of the Purchase Price as specified in Section 2(a)
          hereof, adjusted in accordance with Section 8(c) hereof and in the
          amount of the A&M Leasing Costs and the FPPC Leasing Costs as required
          pursuant to Section 2(b) hereof;

               (2)  Counterpart originals of the Deed, Bill of Sale and
          Assignment, the TI Construction Contract Assignment, and the Ground
          Lease Assignment (as such terms are defined below), accepting the
          terms and limitations thereof and assuming the obligations of Seller
          thereunder from and after Closing, duly executed by Purchaser;

               (3)  Evidence satisfactory to the Title Company and reasonably
          satisfactory to Purchaser that the person executing the Closing
          documents on behalf of Seller has full right, power, and authority to
          do so; and

               (4)  Other instruments as are reasonably requested by Seller and
          as are required by applicable law in Texas to effectuate the
          conveyance of property similar to the Property, with the effect that,
          after the Closing, Purchaser will have succeeded to all of the rights,
          titles, and interests of Seller related to the Property and Seller
          will no longer have any rights, titles, or interests in and to the
          Property, but under no circumstance requiring Purchaser to undertake
          any representation, warranty, covenant or liability not expressly
          contemplated by the terms and provisions of this Agreement, nor that
          would result in any cost to such party not expressly contemplated by
          the terms and provisions of this Agreement.

          (b)  Seller, at its sole cost and expense, shall deliver or cause to
     be delivered to Purchaser the following:

                                       13

<PAGE>

               (1)  Warranty Deed ("DEED") in the form of EXHIBIT "F" hereto,
          fully executed and acknowledged by Seller, conveying to Purchaser the
          Office Building Property and Improvements, subject to the Permitted
          Encumbrances;

               (2)  Bill of Sale and Assignment and Assumption of Purchase
          Agreements and Leases ("BILL OF SALE AND ASSIGNMENT") in the form of
          EXHIBIT "G" hereto, fully executed and acknowledged by Seller,
          assigning, conveying, and transferring all of the Property other than
          the Real Property and the TI Construction Contracts, to Purchaser,
          subject to the Permitted Encumbrances;

               (3)  Any Tenant Estoppel Certificates that have actually been
          obtained by Seller but not previously been delivered to Purchaser;

               (4)  An Owner's Policy of Title Insurance (notwithstanding that
          the same covers both a fee tract and a leasehold interest, herein
          called the "OWNER'S POLICY") in the amount of the Purchase Price
          issued by Title Company (with such reinsurance as Purchaser may
          reasonably require to the extent available), insuring that Purchaser
          is the owner of the Office Building Property and Improvements, and the
          ground leasehold interest of the "Tenant" under the Ground Lease (in
          and to the Ground Lease Property), free and clear of all liens and
          encumbrances subject only to the Permitted Encumbrances and the
          standard printed exceptions included in a Texas standard form owner's
          policy of title insurance; provided, however, that (i) at Purchaser's
          sole cost and expense and subject to the Survey being satisfactory
          therefor, the standard exception for discrepancies, conflicts, or
          shortages in area shall be deleted except for "shortages in area",
          (ii) such policy shall have "None of Record" endorsed regarding
          restrictions except the exception for restrictions deleted unless
          there are Permitted Encumbrances that are restrictions and (iii) at
          Purchaser's sole expense for any Title Company inspection of the
          Property, but Seller hereby agreeing to execute and deliver to the
          Title Company a "parties in possession affidavit" as reasonably
          requested by the Title Company, the rights of parties in possession
          shall be limited only to those holding under the Leases;

               (5)  Current (no older than five (5) business days) certificate
          issued by a search company reasonably acceptable to Purchaser
          reflecting that since the date of the searches furnished pursuant to
          Section 4(c) hereof no Uniform Commercial Code filings, chattel
          mortgages, assignments, pledges, or other encumbrances have been filed
          in the offices of the Secretary of State of the State of Texas or the
          County Clerk of Harris County with reference to the Property, except
          those being released at or prior to Closing;

               (6)  Evidence satisfactory to the Title Company and reasonably
          satisfactory to Purchaser that the persons executing and delivering
          the Closing documents on behalf of Seller have full right, power and
          authority to do so;

               (7)  Certificate executed by Seller re-stating, as of the Closing
          Date, each of Seller's representations and warranties set forth in
          Section 7 hereof,

                                       14

<PAGE>
          subject to such modifications as are required by reason of changes in
          Seller's actual knowledge between the Effective Date and Closing;

               (8) Certificate in the form of EXHIBIT "I" hereto pursuant to
          Section 1445 of the Internal Revenue Code of 1954, executed by Seller.

               (9) Current A/R Listing dated no sooner than 30 days prior to the
          Closing Date reflecting all of the information described in Section
          7(f) hereof as of the date thereof.

               (10) Assignment and Assumption of Ground Lease Agreement (the
          "GROUND LEASE ASSIGNMENT") in the form attached as EXHIBIT "L" hereto.

               (11) Estoppel Certificate from the Ground Lessor if actually
          received by Seller and not previously delivered to Purchaser.

               (12) An assignment and assumption agreement pertaining to the TI
          Construction Contracts (the "TI CONSTRUCTION CONTRACT ASSIGNMENT"), in
          form reasonably acceptable to Seller and Purchaser, whereby the TI
          Construction Contracts are assigned to Purchaser, Purchaser assumes
          the TI Construction Contracts, and Purchaser agrees to indemnify,
          defend and hold harmless Seller from all further liability thereunder
          from and after the Closing Date (other than contract price that Seller
          and Contractor certify has been paid as of the Closing Date, which is
          also part of the amounts to be reimbursed to Seller pursuant to
          Section 2(b) thereof) and Seller agrees to indemnify, defend and hold
          harmless Purchaser from all liabilities arising thereunder (other than
          the unpaid contract price) prior to the Closing Date.

               (13) Other instruments as are reasonably requested by Purchaser
          and as are required by applicable law in Texas to effectuate the
          conveyance of property similar to the Property, with the effect that,
          after the Closing, Purchaser will have succeeded to all of the rights,
          titles, and interests of Seller related to the Property and Seller
          will no longer have any rights, titles, or interests in and to the
          Property, but under no circumstance requiring Seller to undertake any
          representation, warranty, covenant or liability not expressly
          contemplated by the terms and provisions of this Agreement, nor that
          would result in any cost to such party not expressly contemplated by
          the terms and provisions of this Agreement.

          (c) All normal customarily pro-ratable items, including without
     limitation real estate and personal property taxes, utility bills,
     insurance premiums, rents (including, without limitation, rent escalations
     as hereinbelow provided), interest, and Property Agreement payments shall
     be prorated as of the Closing Date, Seller being charged and credited for
     all of same up to such date and Purchaser being charged and credited for
     all of same on and after such date; the amount of the deposits described in
     Section 1(c) hereof transferred to Purchaser at Closing shall be taken into
     account in determining the prorations, any amount or funds held or
     controlled by or for the benefit of Seller, or its designee, representative
     or agent, including specifically, but without limitations, the

                                       15
<PAGE>
     Lessee's Costs (as defined in the A&M Lease), in respect of the
     construction of tenant improvements pursuant to the A&M Lease, the FPPC
     Lease or any other lease, unless previously spent by Landlord (with
     appropriate documentation) for the costs for which they were deposited with
     Seller) will be transferred to Purchaser without any credit to Seller. If
     the actual amounts to be prorated are not known as of the Closing Date, the
     prorations shall be made on the basis of the best evidence then available,
     and thereafter, when actual figures are received, a cash settlement will be
     made between Seller and Purchaser. With regard to proration of rent
     escalations under Leases, it is agreed that such proration will be made
     based upon Seller's current budget or projection of building operating
     expenses for the year of Closing absent clear bad faith on the part of
     Seller in regard to such estimates and absent such bad faith the respective
     shares of rent escalation payments to be received by Seller and Purchaser
     shall instead be reconciled within ninety (90) days after the close of the
     year during which Closing occurs, based on actual building operating
     expenses incurred by Seller and Purchaser, collectively, for the year of
     Closing based on calculations thereof as permitted by the Leases, it being
     assumed and deemed that Seller and Purchaser bore such building operating
     expenses (regardless of proof to the contrary) after taking into account
     other Closing adjustments and prorations of expenses in proportion to their
     respective periods of ownership during the calendar year during which
     Closing occurs. Notwithstanding the foregoing, however, a sum of money
     agreed to by the parties (if the parties cannot agree then Purchaser's sole
     remedy will be to close without such escrow or terminate with the same
     effect as if Purchaser had terminated during the Study Period) will be
     deposited by Seller in escrow with the Title Company at Closing, under an
     escrow agreement joined in by and reasonably acceptable to Purchaser and
     the Title Company (the ''ESCALATION ADJUSTMENT ESCROW AGREEMENT''), to
     provide a pool of funds from which final adjustments and reconciliations of
     escalation payments can be made after Closing as herein contemplated. All
     Deposits shall be credited against the cash portion of the Purchase Price
     in lieu of assigning such Deposits to Purchaser. No prorations shall be
     made in relation to delinquent rents existing as of the Closing Date;
     rather, Section 10 hereof shall govern Seller's rights to such rents. The
     provisions of this Section 8(c) shall survive the Closing.

          (d)  Seller shall pay all costs and liabilities relating to the
     Property that arise out of or are attributable to the period prior to the
     Closing Date, and shall indemnify and hold harmless Purchaser from such
     costs and liabilities and from all reasonable attorneys' fees expended by
     Purchaser in connection therewith. Subject to Section 10 hereof, Seller
     shall have the right to receive all proceeds relating to the Property that
     are properly allocable to the period before the Closing Date, and Purchaser
     shall have the right to receive all proceeds relating to the Property that
     are properly allocable to the period from and after the Closing Date.
     Purchaser shall pay all costs and liabilities relating to the Property that
     arise out of or are attributable to the period from and after the Closing
     Date, except such costs and liabilities that arise out of or result from a
     breach by Seller of its representations and warranties set forth in Section
     7 hereof, and Purchaser shall indemnify and hold harmless Seller from such
     costs and liabilities and from all reasonable attorney's fees expended by
     Seller in connection therewith. This Section 8(d) shall survive the
     Closing.

          (e)  Title Company shall return the Earnest Money to Purchaser or
     Seller shall have the Title Company credit the Earnest Money to the
     Purchase Price.

                                       16
<PAGE>

          (f)  Upon completion of the Closing, Seller shall deliver to Purchaser
     possession of the Property free and clear of all tenancies of every kind
     and parties in possession, except for the Tenants under the Leases, with
     all parts of the Property (including without limitation the Leases,
     Improvements and Personalty) in the same condition as on the Effective
     Date, normal wear only excepted.

     SECTION 9.  COMMISSIONS; REAL ESTATE BROKER NOTICE. Seller has agreed to
pay, at but only in the event of consummation of the Closing and out of the
proceeds of the sale, to LoneStar Alliance, a sales commission in the amount of
0.825% of the gross Purchase Price, and to Transwestern Commercial Services in
the amount of 0.675% of the gross Purchase Price, both such brokers representing
Purchaser in this transaction (collectively, "BROKERS"). If the Closing under
this Agreement does not occur for any reason, including default by either party,
then Seller shall not be obligated to pay any commission to Brokers by reason of
this Agreement or the proposed transaction contemplated hereby. Brokers have
executed this Agreement for the sole and limited purpose of acknowledging and
accepting the terms of this Section 9 as representing the sole and complete
agreement between Seller and such Brokers with regard to the payment of
commissions to them in connection with this transaction, and their joinder shall
not be required for any amendment to this Agreement that does not amend the
content of this Section 9. Except as set forth in this Section 9, Seller shall
defend, indemnify, and hold harmless Purchaser, from and against all claims by
third parties for brokerage, commission, finders, or other fees relative to this
Agreement or the sale of the Property, and all court costs, attorneys' fees, and
other costs or expenses arising therefrom, and alleged to be due by reason of an
agreement of Seller. Purchaser will defend, indemnify and hold harmless Seller
from and against payment of or claims and litigation for any real estate
commission claimed to be payable to agents or consulting agents representing
Purchaser, other than Brokers. As provided for in the Texas Real Estate License
Act, Purchaser is advised to have an abstract of title with regard to the Real
Property examined by an attorney of its choice, or to obtain a policy of title
insurance.

     SECTION 10.  DELINQUENT RENTS. Seller shall retain title to all delinquent
rents existing as of the Closing Date under the Leases, and to all delinquent
parking rents (collectively, the "DELINQUENT RENTS"), and shall have the right
to collect such Delinquent Rents at Seller's sole cost and expense; provided,
however, that in pursuance of such collection efforts, Seller shall not exercise
any of the Lessor's or Landlord's rights under any Lease. Purchaser agrees to
reasonably cooperate with Seller in connection with such collections, and to
promptly remit to Seller all such delinquent rents collected by Purchaser after
Closing; provided, however that all rents that (i) are received after the
Closing Date from such delinquent tenants and (ii) are not designated by such
tenants to be on account of their obligations for any period before Closing,
shall be applied first against the then-current portion of such tenant's rent
obligation and then (and only then) against the Delinquent Rent portion due to
Seller and Purchaser shall promptly deliver such Delinquent Rents to Seller upon
receipt by Purchaser. The provisions of this Section 10 shall survive the
Closing.

     SECTION 11.  DESTRUCTION, DAMAGE, OR TAKING BEFORE CLOSING. If, before
Closing, all or any part of the Improvements or Personalty are destroyed or
damaged, or become subject to condemnation or eminent domain proceedings, then
Seller shall promptly notify Purchaser thereof. Purchaser shall have the right
to elect to proceed with the Closing (subject to the other provisions of this
Agreement) by delivering notice thereof to Seller within five (5) business days

                                       17

<PAGE>

of receipt of Seller's notice respecting the damage, destruction, or taking, but
Purchaser shall be entitled to all insurance proceeds or condemnation awards
payable as a result of such damage or taking and, to the extent the same may be
necessary or appropriate, Seller shall assign to Purchaser at Closing Seller's
rights to such proceeds or awards. If, within five (5) business days of receipt
of Seller's notice respecting the damage, destruction, or taking, Purchaser
notifies Seller of its election to terminate this Agreement, or if Purchaser
gives no notice within such period, then Purchaser shall be deemed to have
terminated this Agreement pursuant to Section 12(b) hereof.

     SECTION 12.  TERMINATION AND REMEDIES.

          (a)  If Purchaser fails to consummate the purchase of the Property
     pursuant to this Agreement (for any reason other than termination hereof
     pursuant to a right granted to Purchaser in Sections 5, 6, 7, and 11
     hereof), then Seller, as its sole remedy, shall have the right to
     terminate this Agreement by notifying Purchaser thereof, in which event
     Title Company shall deliver the Earnest Money to Seller as liquidated
     damages, whereupon neither Purchaser nor Seller shall have any further
     rights or obligations hereunder (except those indemnity and repair
     obligations of Purchaser stated herein to survive termination of this
     Agreement [the "SURVIVING OBLIGATIONS"]).

          (b)  If Purchaser terminates this Agreement pursuant to Section 5, 6,
     7, or 11 hereof, then Title Company shall return the Earnest Money to
     Purchaser, whereupon neither party hereto shall have any further rights or
     obligations hereunder, except the Surviving Obligations.

          (c)  If Seller breaches this Agreement prior to Closing or fails to
     consummate the sale of the Property pursuant to this Agreement (for any
     reason other than Purchaser's failure to perform its obligations hereunder
     or termination hereof by Purchaser in accordance with Section 12(b)), then
     Purchaser's sole and exclusive remedy is to either: (i) terminate this
     Agreement by giving written notice to Seller thereof, in which case Title
     Company shall return the Earnest Money to Purchaser and neither party
     hereto shall have any further rights or obligations hereunder (except the
     Surviving Obligations); or (ii) enforce specific performance of the
     obligations of Seller hereunder.

          (d)  Seller and Purchaser hereby acknowledge and agree that they have
     included the provision for payment of liquidated damages in Section 12(a)
     because, in the event of a breach by Purchaser, the actual damages to be
     incurred by Seller can reasonably be expected to approximate the amount of
     liquidated damages called for herein and because the actual amount of such
     damages would be difficult if not impossible accurately to measure.

          (e)  Nothing in this Section shall be construed as preventing either
     party from obtaining injunctive relief from violation of this Agreement by
     the other party under circumstances in which injunctive relief would be
     available under applicable law.

     SECTION 13.  NOTICES.  All notices provided or permitted to be given under
this Agreement must be in writing and may be served by depositing same in the
United States mail,

                                       18

<PAGE>
addressed to the party to be notified, postage prepaid and registered or
certified with return receipt requested, by delivering the same in person to
such party. Notice given in accordance herewith shall be deemed given and
received upon receipt at the effective notice address of the addressee, except
that notice sent by mail, certified or registered, return receipt requested as
specified herein shall be deemed given and received on the third postal
business day after deposit in the U.S. Mail. For purposes of notice, effective
notice addresses of the parties shall be as follows:

IF TO SELLER:            TCP Renaissance Partners, L.P.
                         5858 Westheimer, Suite 800
                         Houston, Texas 77057
                         Attn: David A. Thomas
                         Fax: (713) 266-3699

WITH REQUIRED COPY TO:   TCP Renaissance Partners, L.P.
                         8200 Brookriver Drive, Suite N610
                         Dallas, Texas 75247
                         Attn: Robert B. Neely
                         Fax: (214) 237-6201

WITH REQUIRED COPY TO:   Jonathan Peckham, Esquire
                         Boyar & Miller
                         4265 San Felipe, Suite 1200
                         Houston, Texas 77027
                         Fax: (713) 552-1758

IF TO PURCHASER:         Southwest Bank of Texas, N.A.
                         4400 Post Oak Parkway
                         Five Post Oak Park, 4th Floor
                         Houston, Texas 77027
                         Attention: President
                         Fax: (713) 634-2446

WITH REQUIRED COPY TO:   Gardere Wynne Sewell, LLP
                         Attn: John R. Cochran
                         1000 Louisiana, Suite 3400
                         Houston, Texas 77002
                         Fax: (713) 276-6369

Any party hereto may change its address for notice by giving three (3) days
prior written notice thereof to the other party.

     SECTION 14. ASSIGNS; BENEFICIARIES. This Agreement shall inure to the
benefit of and be binding on the parties hereto and their respective heirs,
legal representatives, successors, and assigns. This Agreement is for the sole
benefit of Seller and Purchaser, and not third party is intended to be a
beneficiary of this Agreement. Purchaser may assign this Agreement or a part
thereof to any affiliated entity and any affiliate of Southwest Bank of Texas,
N.A., without the

                                       19
<PAGE>

consent of Seller, but any other assignment by Purchaser is hereby prohibited
and, if attempted, shall be void.

     SECTION 15.  GOVERNING LAW. This Agreement shall be governed and construed
in accordance with the laws of the State of Texas.

     SECTION 16.  ENTIRE AGREEMENT. This Agreement is the entire agreement
between Seller and Purchaser concerning the sale of the Property, and no
modification hereof or subsequent agreement relative to the subject matter
hereof shall be binding on either party unless reduced to writing and signed by
the party to be bound. EXHIBITS A, A-1, B, C, C-1, AND D THROUGH L, inclusive,
attached hereto, are incorporated herein by this reference for all purposes.

     SECTION 17.  ATTORNEY'S FEES. Should any litigation or administrative
proceeding be commenced by either of the parties hereto or their
representatives, or should either party institute any proceeding in a bankruptcy
or similar court which has jurisdiction over any other party hereto or any or
all of its property or assets, or should any litigation or proceeding be
commenced concerning any provision of this Agreement or the rights and duties of
any person or entity in relation thereto, then the party or parties prevailing
in such litigation or proceeding shall be entitled, in addition to such other
relief as may be granted, to a reasonable sum as and for such prevailing party's
attorneys' fees and court costs in such litigation or proceeding, which shall be
determined by the court (or presiding official) in such litigation or
proceeding or in a separate action brought for that purpose.

     SECTION 18.  SURVIVAL. The representations, warranties and covenants of
Seller set forth in this Agreement shall not survive the Closing except as
expressly stated elsewhere in this Agreement, and shall be deemed merged into
the Deed and fully performed upon Purchaser's acceptance of the Deed at Closing.

     SECTION 19.  SATURDAY, SUNDAY OR LEGAL HOLIDAY. If any date set forth in
this Agreement for the performance of any obligation by Purchaser or Seller or
for the delivery of any instrument or notice should be on a Saturday, Sunday or
legal holiday, the compliance with such obligations or delivery shall be deemed
acceptable on the next business day following such Saturday, Sunday or legal
holiday. For purposes of this Section 19, "LEGAL HOLIDAY" means any state or
federal holiday for which financial institutions or post offices are generally
closed in Harris County, Texas, for the observance thereof.

     SECTION 20.  TIME OF ACCEPTANCE. Seller shall execute and deliver three
(3) original counterparts to the Title Company with a copy to Purchaser within
three (3) business days of the date of Purchaser's signature hereon. The Title
Company shall promptly receipt for this Agreement in the space provided below
and deliver one fully executed, receipted original of this Agreement to Seller,
shall deliver on fully executed, receipted original of this Agreement to
Purchaser, and shall retain the third original in escrow as provided herein.
For all purposes of this Agreement, the "EFFECTIVE DATE" shall be the date on
which the three fully executed counterpart originals of this Agreement,
executed by Purchaser and Seller, are receipted for by the Title Company
(without regard to when the Title Company receives the Earnest Money).

                                       20

<PAGE>

     SECTION 21.  AUTHORITY. Each party to this Agreement and its
representative(s) executing this Agreement on such party's behalf warrants and
represents to the other party that it has the power and authority to enter into
and perform its obligations under this Agreement in the names, titles and
capacities herein stated and on behalf of any entities, persons, estates or
firms represented or purported to be represented by such party or person, and
that all requirements necessary or required by any state and/or federal law or
private agreement.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       21

<PAGE>
     IN WITNESS WHEREOF, Purchaser and Seller have executed this Agreement on
the dates set forth below, to be effective as of the Effective Date.

                                   SELLER:

                                   TCP RENAISSANCE PARTNERS, L.P.

                                   By: TCP Renaissance, LLC, its General Partner

                                       By: /s/ David A. Thomas
                                           ----------------------------
                                       Name:  David A. Thomas
                                              -------------------------
                                       Title: Managing Director
                                              -------------------------
                                       Date:  May 24, 2002
                                              -------------------------

                                   PURCHASER:

                                   SOUTHWEST BANK OF TEXAS, N.A.

                                       By: /s/ Susan B. Boykin
                                           ----------------------------
                                       Name:  Susan B. Boykin
                                              -------------------------
                                       Title: SVP-Manager Corporate
                                              Real Estate & Facilities
                                              -------------------------
                                       Date:  May 24, 2002
                                              -------------------------

BROKERS (SOLELY FOR PURPOSES
OF AGREEING TO THE COMMISSION
AGREEMENTS WITH SELLER PER
SECTION 9 OF THIS AGREEMENT):

LONESTAR ALLIANCE, INC.

By: /s/ Kirk Pfeffer
   ---------------------------

Name: Kirk Pfeffer
     -------------------------

Title: President
      ------------------------

TRANSWESTERN COMMERCIAL SERVICES

By: /s/ Larry P. Heard
   ---------------------------

Name: Larry P. Heard
     -------------------------

Title: President, SW Region
      ------------------------

                                       22

<PAGE>
                                CONTRACT RECEIPT

     The undersigned representative of the Title Company acknowledges receipt of
three (3) fully executed originals of this Agreement on the 24 day of May 2002
(the "EFFECTIVE DATE").

                                               CHARTER TITLE COMPANY

                                               By: /s/ Carol Dube
                                                   -------------------------
                                               Name:  Carol Dube
                                               Title: Office Manager

                             EARNEST MONEY RECEIPT

     The undersigned representative of the Title Company acknowledges receipt of
Earnest Money from Purchaser in the amount of One Hundred Thousand and NO/100
Dollars ($100,000.00) on the 24 day of May 2002, in the form of expense check
GF#02030197.

                                               CHARTER TITLE COMPANY

                                               By: /s/ Carol Dube
                                                   -------------------------
                                               Name:  Carol Dube
                                               Title: Office Manager

                                       23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]