Document:

EX-10.15

 Exhibit 10.15 
 PURCHASE AGREEMENT 
 AND ESCROW INSTRUCTIONS 

Between 

RYAN ANKENY, LLC 
 as Seller 
 and 

SERIES C, LLC 
 as Buyer 
 SEPTEMBER 27, 2012 

 
  

 PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS 

 

			
	DATED:	  	Dated to be effective as of September 27, 2012 (the “Effective Date”).
		
	PARTIES:	  	This Purchase Agreement and Escrow Instructions is between RYAN ANKENY, LLC, as “Seller”, and SERIES C, LLC, as “Buyer”.

 WHEREAS, as of the Effective Date, Seller is the fee title owner of that certain improved property
located at 5500 Southeast Delaware Avenue, Ankeny, Iowa, as legally described on Exhibit A attached hereto (the “Real Property”); 
 WHEREAS, as of the Effective Date, the Real Property is being improved with a building containing approximately 450,139 square feet (the “Building”) which Real Property and Building are
leased to The Toro Company (“Tenant”) in accordance with a written lease dated March 14, 2012 (the “Lease”). The Real Property, the Building, the improvements to the Real Property (the
“Improvements”), the personal property, if any, of Seller located on the Real Property and Seller’s interest in the Lease and all rents issued and profits due or to become due thereunder are hereinafter collectively referred to
as the “Property”; and 
 WHEREAS, Buyer desires to purchase the Property from Seller and Seller desires to
sell the Property to Buyer free and clear of all liens, all as more particularly set forth in this Purchase Agreement and Escrow Instructions (the “Agreement”). 

NOW THEREFORE, in consideration of the promises set forth in this Agreement and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Seller and Buyer (the “Parties” or a “Party”) hereby agree as follows: 
 1. INCORPORATION OF RECITALS. All of the foregoing Recitals are hereby incorporated as agreements of the Parties. 
 2. BINDING AGREEMENT. This Agreement constitutes a binding agreement between Seller and Buyer for the sale and purchase of the Property subject to the terms set forth in this Agreement. Subject to
the limitations set forth in this Agreement, this Agreement shall bind and inure to the benefit of the Parties and their respective successors and assigns. This Agreement supersedes all other written or verbal agreements between the Parties
concerning any transaction embodied in this Agreement. No claim of waiver or modification concerning the provision of this Agreement shall be made against a Party unless based upon a written instrument signed by such Party. 

 3. INCLUSIONS IN PROPERTY. 

(a) The Property. The term “Property” shall also include the following: 

(1) all tenements, hereditaments and appurtenances pertaining to the Real Property; 

(2) all mineral, water and irrigation rights of Seller, if any, running with or otherwise pertaining to the Real Property; 

(3) all interest, if any, of Seller in any road adjoining the Real Property; 

(4) all interest, if any, of Seller in any award made or to be made or settlement in lieu thereof for damage to the Property by reason
of condemnation, eminent domain or exercise of police power; 
 (5) all of Seller’s interest in the Building, the
Improvements and any other improvements and fixtures on the Real Property; 
 (6) all of Seller’s interest, if any, in any
equipment, machinery and personal property on or used in connection with the Real Property (the “Personalty”); 
 (7) the Lease and security deposit, if any, now or hereafter due thereunder; and, 

(8) all of Seller’s interest, to the extent transferable, in any permits and licenses (the “Permits”), warranties
(specifically including, without limitation, any warranty of the general contractor with respect to construction of the Building and other Improvements on the Real Property and any warranty related to the roof of the Building, collectively, the
“Warranties”), contractual rights and intangibles (including rights to the name of the improvements as well as all construction contracts, subcontracts, architectural/engineering plans and/or agreements and similar agreements) with
respect to the design, development, construction, operation, maintenance, repair and/or improvement of the Property, to the extent transferable (the “Contracts”). 

(b) The Transfer Documents. The Personalty shall be transferred by that certain bill of sale from Seller to Buyer, the agreed upon
form of which is attached hereto as Exhibit B (the “Bill of Sale”); the Lease shall be transferred by that certain assignment and assumption of lease, the agreed upon form of which is attached hereto as Exhibit C (the
“Assignment of Lease”); the Permits, Warranties and Contracts shall be transferred by that certain assignment and assumption agreement, the agreed upon form of which is attached hereto as Exhibit D (the “Assignment
Agreement”); and the Real Property, the Building and the Improvements shall be transferred and conveyed by execution and delivery of Seller’s special warranty deed, the agreed upon form of which is attached hereto as Exhibit E (the
“Deed”). The Bill of Sale, the Assignment of Lease, the Assignment Agreement and the Deed are hereinafter 

 
collectively referred to as the “Transfer Documents”. Notwithstanding the foregoing, in the event any Warranty transfer requires the approval of the applicable warrantor and/or
satisfaction of any other conditions to such transfer, Seller shall obtain such approval and satisfy all such conditions no later than COE (as defined below), including, without limitation, payment of any fees relating thereto. 

4. PURCHASE PRICE. The price to be paid by Buyer to Seller for the Property is TWENTY-TWO MILLION FOUR HUNDRED SEVENTY THOUSAND
TWO HUNDRED FORTY-THREE and NO/100 DOLLARS ($22,470,243.00) (the “Purchase Price”), subject to adjustment as provided herein, payable as follows: 
 (a) One Million and No/100 Dollars ($1,000,000.00) earnest money (said deposit, together with any and all interest earned or accrued thereon, the “Earnest Money Deposit”) to be deposited
in escrow with First American Title National Commercial Services, The Esplanade Commercial Center, 2425 E. Camelback Road, Suite 300, Phoenix, Arizona 85016, Attention: Brandon Grajewski (“Escrow Agent”) not later than five
(5) business days following the receipt by Escrow Agent of a fully-executed original of this Agreement (said receipt by Escrow Agent of both a fully-executed original of this Agreement and the Earnest Money Deposit, the “Opening of
Escrow”), which Earnest Money Deposit is to be held by Escrow Agent until released to Seller or Buyer as provided herein or paid to Seller at close of escrow (“COE”); and 

(b) Twenty-One Million Six Hundred Ninety Thousand and No/100 Dollars ($21,470,243.00) in additional cash, or other immediately available
funds (as may be increased or decreased by such sums as are required to take into account any additional deposits, prorations, credits, or other adjustments required by this Agreement), to be deposited in escrow with Escrow Agent on or before COE,
which sum is to be held by Escrow Agent until cancellation of this Agreement as provided herein or paid to Seller by wire transfer at COE. 

The Purchase Price shall be an amount equal to the result obtained by dividing (a) the first year’s Basic Rent by (b) six and fifteen
one-hundredths percent (6.15%). In the event the Basic Rent is modified after the date hereof, the parties shall enter into an amendment to this Agreement documenting the revised Purchase Price, which, in all events, shall be calculated by the above
formula. 
 5. DISPOSITION OF EARNEST MONEY DEPOSIT. Seller and Buyer hereby instruct Escrow Agent to place the Earnest
Money Deposit in a federally insured interest-bearing passbook account on behalf of Seller and Buyer. The Earnest Money Deposit shall be applied as follows: 
 (a) if Buyer cancels this Agreement as Buyer is so entitled to do as provided in this Agreement, the Earnest Money Deposit shall be paid immediately to Buyer; 

(b) if the Earnest Money Deposit is forfeited by Buyer pursuant to this Agreement, then except as otherwise provided in
Section 20(b), such Earnest Money Deposit shall be paid to Seller as Seller’s agreed and total liquidated damages, it being acknowledged and agreed that it would be difficult or impossible to determine Seller’s exact damages; and

 (c) if escrow closes, the Earnest Money Deposit shall be credited to Buyer, automatically
applied against the Purchase Price and paid to Seller at COE. 
 6. PRELIMINARY TITLE REPORT AND OBJECTIONS. Within ten
(10) days after the Opening of Escrow, Escrow Agent shall deliver a current title commitment (the “Report”) for an ALTA extended coverage title insurance policy (the “Owner’s Policy”) on the Property to
Buyer and Seller. The Report shall show the status of title to the Property as of the date of the Report and shall also describe the requirements of Escrow Agent for the issuance of the Owner’s Policy as described herein. The cost of the Report
and the Owner’s Policy in the amount of the purchase price shall be paid by the Seller; provided, however, that any additional costs for an extended coverage policy, endorsements thereto (excluding, however, those endorsements required to cure
one or more Objectionable Matters (as hereinafter defined), which endorsements shall be issued at Seller’s sole cost and expense), or any lender’s title policy shall be paid by Buyer. In addition to the Report, Escrow Agent shall
simultaneously deliver to Buyer and Seller legible copies of all documents identified in Part Two of Schedule B of the Report. 

If Buyer is dissatisfied with any exception to title as shown in the Report and/or any matter disclosed by any survey delivered to Buyer
as part of Seller’s Diligence Materials (collectively, the “Objectionable Matters”), then Buyer may either, by giving written notice thereof to Escrow Agent on or before expiration of the Study Period (as defined below),
(a) cancel this Agreement, whereupon the Earnest Money Deposit shall be returned to Buyer together with all documents deposited in escrow by Buyer, or (b) provisionally accept the title subject to Seller’s agreement, at Seller’s
option, to cause the removal of or otherwise cure the Objectionable Matters, in which case Seller shall (at its sole cost) remove or otherwise cure the Objectionable Matters before COE. Seller shall notify Buyer in writing within five (5) days
after receiving Buyer’s written notice of disapproval or objection if Seller does not intend to remove (or cause the Escrow Agent to endorse over to Buyer’s satisfaction) or otherwise cure any such Objectionable Matters. Seller’s lack
of response shall be deemed as Seller’s election not to remove or otherwise cure the Objectionable Matters prior to COE. If written notice of dissatisfaction is not timely given by Buyer to Seller pursuant to this Section 6, then Buyer
shall be deemed to have disapproved of the condition of the title of the Property as shown by the Report, and shall have elected to terminate this Agreement, whereupon the Earnest Money Deposit shall be returned to Buyer and all other obligations
under this Agreement shall terminate. 
 In the event the Report is amended to include new exceptions that are not set forth in
a prior Report or in the event the Survey (as defined in Section 9 below) discloses any matters reasonably objectionable to Buyer that were not disclosed on a prior survey delivered by Seller to Buyer or otherwise discovered by or known to
Buyer, Buyer shall have until the later of (i) the expiration of the Study Period, or (ii) the date that is five (5) business days after Buyer’s receipt of either (y) the amended Report and copies of the documents identified
in the new exceptions or new requirements or (z) the Survey, as applicable, within which to cancel this Agreement and receive a refund of the Earnest Money Deposit or to provisionally accept the title subject to Seller’s agreement to cause
the removal of or otherwise cure any disapproved exceptions or 

 
objections (also, “Objectionable Matters”). Seller shall notify Buyer in writing within five (5) days after receiving Buyer’s written notice of disapproval or objection if
Seller does not intend to remove (or cause the Escrow Agent to endorse over to Buyer’s satisfaction) or otherwise cure any such additional Objectionable Matters. Seller’s lack of response shall be deemed as Seller’s election not to
remove or otherwise cure the Objectionable Matters prior to COE. 
 If Seller serves notice to Buyer that Seller does not intend
to remove or otherwise cure such Objectionable Matters before COE, or if Seller is deemed to have elected not to remove such Objectionable Matters, Buyer shall, within five (5) days thereafter, notify Seller and Escrow Agent in writing of
Buyer’s election to either (i) terminate this Agreement, whereupon the Earnest Money Deposit shall be returned to Buyer and all other obligations under this Agreement shall terminate, or (ii) Buyer may waive such Objectionable Matters
and the transaction shall close as scheduled. If Seller agrees to remove or otherwise cure the Objectionable Matters but fails or is unable to do so by the scheduled COE date, or if Buyer otherwise receives notice that Seller has failed or refused
to remove or otherwise cure the Objectionable Matters, Buyer shall, within five (5) days after either said COE date or its receipt of notice of such failure or inability, notify Seller and Escrow Agent in writing of Buyer’s election to
either (i) terminate this Agreement, whereupon the Earnest Money Deposit shall be returned to the Buyer and all other obligations under this Agreement shall terminate, or (ii) waive such Objectionable Matters whereupon the transaction
shall close five (5) business days after Buyer notifies Seller of such election. If written notice of such election is not timely given by Buyer pursuant to the foregoing sentence, then Buyer shall be deemed to have elected to terminate this
Agreement as set forth in such sentence. If Buyer elects to terminate this Agreement pursuant to this Section 6, it shall, upon the request of Seller, execute a quit claim deed of the Property to Seller, or execute such other documentation as
reasonably requested by Seller to terminate this Agreement and transfer to Seller any equitable interest in the Property that Buyer may have by reason of this Agreement. The requirement to execute such documentation shall survive the expiration or
sooner termination of this Agreement. 
 7. BUYER’S STUDY PERIOD. 

(a) The Study Period. Buyer shall have until 11:59 p.m. MST on the later of the (i) thirtieth (30th) day after the Opening of Escrow, (ii) thirtieth
(30th) day after Buyer’s receipt of
Seller’s written notice to Buyer certifying that Seller has delivered to Buyer or made available to Buyer via web portal all of Seller’s Diligence Materials (as hereinafter defined), or (iii) tenth (10th) day after Buyer’s receipt of the Survey (the
“Study Period”) (provided, however, that the Study Period, as it may be determined pursuant to Subsection 7(a)(iii), may not, in any event, exceed forty (40) days after the Opening of Escrow), at Buyer’s sole cost, within
which to conduct and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer’s sole discretion, to determine the feasibility of acquiring the Property, including, without limitation, Buyer’s right to:
(x) review and approve the Survey, the Lease, and the Contracts; (y) meet and confer with Tenant (provided, however, Seller shall have the right, but no obligation, to have a representative present for any such meeting or conference); and,
(z) obtain, review and approve an environmental study of the Real Property and Building (collectively, “Buyer’s Diligence”). 

 (b) Right of Entry. Subject to the terms of the Lease and the prior rights of the
Tenant of the Property, Seller hereby grants to Buyer and Buyer’s agents, employees and contractors the right to enter upon the Property, at any time or times prior to COE, upon reasonable notice to Seller, to conduct Buyer’s Diligence.
Buyer agrees to use reasonable efforts not to unreasonably disturb or interfere with the Seller’s construction or the Tenant in its use and occupancy of the Property or its business operations at the Property. Such entry shall be at times
mutually agreeable to Buyer and the Tenant and both Seller and Tenant reserve the right to have a representative present during any such entry; provided, however, the election by Seller not to or inability by Seller to have a representative present
during any such entry shall not prohibit, prevent, limit or restrict Buyer’s rights under this Section 7(b). In consideration therefor, Buyer shall and does hereby agree to indemnify and hold Seller and the Tenant harmless from any and all
liabilities, claims, losses or damages, including, but not limited to, court costs and attorneys’ fees, which may be incurred by Seller or the Tenant, as the case may be, as a direct result of Buyer’s Diligence or entry upon the Property.
Buyer’s indemnity and hold harmless obligation shall survive cancellation of this Agreement or COE. Notwithstanding the foregoing, Buyer agrees that it shall not conduct any invasive testing of any part of the Property without Seller’s
prior written consent. 
 (c) Cancellation. Unless Buyer so notifies Seller or Escrow Agent, in writing, on or before the
end of the Study Period (with respect to all matters other than the Post-Construction Diligence (as hereinafter defined)) or Extended Study Period (with respect to the Post-Construction Diligence), as applicable, of Buyer’s acceptance of
Buyer’s Diligence and waiver of the contingencies as set forth in this Section 7, this Agreement shall be canceled and the Earnest Money Deposit shall be returned immediately to Buyer and, except as otherwise provided in this Agreement,
neither of the Parties shall have any further liability or obligation under this Agreement. If Buyer elects to terminate this Agreement pursuant to this Section 7, it shall, upon the request of Seller, execute a quit claim deed of the Property
to Seller, or execute such other documentation as reasonably requested by Seller to terminate this Agreement and transfer to Seller any equitable interest in the Property that Buyer may have by reason of this Agreement. The requirement to execute
such documentation shall survive the expiration or sooner termination of this Agreement. 
 (d) Tenant Right of First Refusal
or Right of First Offer. Notwithstanding the fact that the Lease may contain a tenant right of first refusal or right of first offer (either such right, a “ROFR”), Buyer hereby agrees that the Study Period shall commence and run
as set forth in Section 7(a) above, and commencement thereof shall not be tolled pending receipt of a written waiver of such ROFR by Tenant; provided, however, that in return therefor, Seller hereby agrees that, in the event Tenant does give
notice of its intent to exercise the ROFR or does actually exercise the ROFR, Seller shall promptly reimburse to Buyer all reasonable out-of-pocket and third-party property diligence expenses incurred by Buyer, including, without limitation,
reasonable attorneys’ fees and costs; provided, however, that such reimbursement shall not exceed Twenty-Five Thousand Dollars ($25,000.00). Notwithstanding the foregoing, so long as Escrow Agent acknowledges that Tenant’s failure to
exercise its option in writing is deemed to be an effective waiver of such option under the Lease and agrees to issue the Policy without taking exception to the ROFR, nothing herein shall be deemed to require a written waiver of the ROFR from
Tenant. 

 (e) Property Condition Report. Seller acknowledges that Buyer must receive, review
and approve (i) a written report summarizing the results of an on-site inspection of the physical condition of the Property (the “PCR”), and (ii) a municipal information summary report (the “Zoning
Report”) as a condition to Buyer’s acceptance of the Property (collectively, the “Post-Construction Diligence”). Buyer or its representatives shall order the PCR and the Zoning Report promptly after receipt of notice
from Seller of the substantial completion of the Improvements (the “Completion Confirmation”) and, notwithstanding the provisions of Section 7(a) above, Buyer shall have until thirty (30) days after its receipt of the
Completion Confirmation (the “Extended Study Period”) to identify any matters reasonably objectionable to Buyer disclosed by the PCR and/or the Zoning Report that were not disclosed to Buyer by Seller or otherwise discovered by or
known to Buyer prior to expiration of the Study Period (the “Post-Construction Objections”), then Buyer may either, by giving written notice thereof to Seller (the “Post-Construction Objection Notice”) prior to the
expiration of the Extended Study Period, (a) to the extent the Post-Construction Objections would require, in the reasonable business judgment of Buyer, in excess of $250,000.00 in the aggregate to remedy, cancel this Agreement, whereupon the
Earnest Money Deposit shall be returned to Buyer together with all documents deposited in escrow by Buyer, or (b) provisionally accept the Property subject to Seller’s agreement to cure the Post-Construction Objections. Seller shall notify
Buyer in writing within three (3) business days after receiving the Post-Construction Objection Notice whether Seller intends to so cure such Post-Construction Objections. Seller’s lack of response shall be deemed as Seller’s refusal
to cure such Post-Construction Objections prior to COE. If Seller agrees to cure the Post-Construction Objections but fails or is unable to do so by the scheduled COE date, Seller must escrow an amount equal to One Hundred Twenty-Five Percent
(125%) of the estimated cost to cure such uncured Post-Construction Objections (the “Post-Construction Objections Escrow”), whereupon the transactions contemplated by this Agreement shall close on the scheduled COE date. The
Post-Construction Objections Escrow shall be deducted by the Escrow Agent from the Purchase Price and shall be held by Escrow Agent pursuant to the terms of a commercially reasonable post-closing holdback agreement executed by Seller, Buyer and
Escrow Agent, which shall provide, in part, for the release of the Post-Construction Objections Escrow to Seller upon Buyer’s reasonable satisfaction that the Post-Construction Objections have been cured. 

After Closing, Seller and its agents and contractors shall have access to the Property to the limited extent necessary to complete its
cure of the Post-Construction Objections, subject to the rights of Tenant under the Lease. If Buyer has not received evidence reasonably satisfactory to Buyer that all Post-Construction Objections have been completed within the earlier of
(a) sixty (60) days following COE, or (b) prior to the expiration of any deadline for completion of such matters set forth in the Lease, then Buyer shall be entitled, but not obligated, to undertake the cure of any remaining
Post-Construction Objections and in connection therewith shall be entitled to retain up to the entire balance of the Post-Construction Objections Escrow upon presentation to Escrow Agent of invoices and other receipts for expenses reasonably
incurred in connection therewith. Further, upon presentation by Buyer of evidence reasonably satisfactory to Seller that Buyer expended amounts in excess of the amount of the Post-Construction Objections Escrow to complete the cure of such
Post-Construction Objections, Seller shall pay or cause to be paid to Buyer an amount equal to such excess within fifteen (15) days after receipt of such evidence. The provisions of this Section 7 shall survive COE. 

 8. DELIVERY OF SELLER’S DILIGENCE MATERIALS. Seller agrees to deliver to Buyer
contemporaneously with the Opening of Escrow or by making available to Buyer via web portal not later than the Opening of Escrow all information in Seller’s possession or control relating to the leasing, operating, maintenance, repair, zoning
(including any zoning verification letters), platting, engineering, soil tests, water tests, environmental tests or reports, construction (including the Certificate of Occupancy for the Property), master planning, architectural drawings and like
matters regarding the Property and/or the Tenant (collectively, “Seller’s Diligence Materials”), all at no cost to Buyer. The foregoing deliveries shall include, but not be limited to, to the extent such items exist and are in
Seller’s possession and/or control, copies of all: (i) books of account and records for the Property for Seller’s period of ownership thereof; (ii) the Lease, including all amendments thereto, guaranties thereof and assignments
thereof, if any; (iii) the maintenance history of the Property for Seller’s period of ownership thereof; (iv) current maintenance and listing contracts for the Property including any amendments thereto; (v) all claims or suits by
Tenant or third parties involving the Property or the Lease or any Contracts (whether or not covered by insurance); (vi) a list of all claims or suits by or against Seller regarding the Property for Seller’s period of ownership thereof;
(vii) the site plan with respect to the Property; (viii) copies of all Contracts, Warranties and Permits; and (ix) any other documents or other information in the possession and/or control of Seller pertaining to the Property. Should
Seller receive new or updated information regarding any of the matters set forth in this Section 8(a) after the Effective Date and prior to COE, Seller will promptly notify Buyer of such fact and will promptly deliver complete copies thereof to
Buyer or make the same available to Buyer via web portal. 
 9. THE SURVEY. Promptly after the Opening of Escrow, Buyer
shall cause a surveyor licensed in the State of Iowa to complete and deliver to Escrow Agent and Buyer a current, certified ALTA As-Built survey of the Real Property, Building and Improvements (the “Survey”), all at Buyer’s
sole expense, whereupon the legal description in the Survey shall control over the description in Exhibit A attached hereto to the extent they may be inconsistent. The Survey shall set forth the legal description and boundaries of the Property and
all easements, encroachments and improvements thereon. 
 10. IRS SECTION 1445. Seller shall furnish to Buyer in escrow
by COE a sworn affidavit (the “Non-Foreign Affidavit”) stating under penalty of perjury that Seller is not a “foreign person” as such term is defined in Section 1445(f)(3) of the Internal Revenue Code of 1986, as
amended (the “Tax Code”). If Seller does not timely furnish the Non-Foreign Affidavit, Buyer may withhold (or direct Escrow Agent to withhold) from the Purchase Price an amount equal to the amount required to be so withheld pursuant
to Section 1445(a) of the Tax Code, and such withheld funds shall be deposited with the Internal Revenue Service as required by such Section 1445(a) and the regulations promulgated thereunder. The amount withheld, if any, shall
nevertheless be deemed to be part of the Purchase Price paid to Seller. 

 11. DELIVERY OF POSSESSION. Seller shall deliver possession of the Property to Buyer
at COE subject only to the rights of Tenant under the Lease and parties in interest pursuant to easements, covenants, and other documents of record. 
 12. BUYER’S CONDITIONS PRECEDENT. In addition to all other conditions precedent set forth in this Agreement, Buyer’s obligations to perform under this Agreement and to close escrow are
expressly subject to the following: 
 (a) the delivery by Seller to Escrow Agent, for delivery to Buyer at COE, of the executed
original Transfer Documents; 
 (b) the issuance of the Owner’s Policy (or a written commitment therefor) subject only to
those matters approved or deemed approved by Buyer pursuant to this Agreement; 
 (c) the delivery by Seller to Buyer at COE of
all abatements in rent under the Lease resulting from a casualty or condemnation affecting the Property or pre-paid rents (pro-rated to the date of COE as provided herein), if any, in the form of a credit in favor of Buyer against the Purchase
Price; 
 (d) the deposit by Seller with Buyer not later than three (3) days prior to COE of (i) an original estoppel
certificate, consistent with the form required to be provided by Tenant pursuant to the Lease, dated not more than thirty (30) days prior to COE, stating, subject to Section 40 below, that there are no unperformed or “punchlist”
construction items, no unpaid tenant improvement allowances or leasing commissions, and otherwise reasonably acceptable to Buyer, executed by Tenant and naming Buyer (or its designee) and any lender of which Buyer provides written notice to Seller
pursuant to the notice provisions hereof (“Lender”) as addressees, and (ii) a subordination, non-disturbance and attornment agreement executed by Tenant, consistent with the form required to be provided by Tenant pursuant to
the Lease and dated not more than thirty (30) days prior to COE; 
 (e) intentionally omitted; 

(f) the deposit with Escrow Agent of an executed final lien waiver by the general contractor, an executed affidavit of Seller and such
other documentation as may be reasonably required by Escrow Agent to allow for the deletion of the mechanics’ lien exception from the Owner’s Policy; 
 (g) the delivery by Seller to Buyer of the final Certificate of Occupancy for the Improvements; 
 (h) the delivery by Seller to Buyer of an architect’s affidavit in the form attached hereto as Exhibit F; 
 (i) intentionally omitted; 

 (j) the deposit with Escrow Agent of a letter from Seller to Tenant notifying the Tenant of
the assignment of the Lease and requesting that future rent under the Lease be paid to Buyer; 
 (k) to the extent the Property
is subject to zoning regulations, the receipt by Buyer prior to the expiration of the Study Period of evidence reasonably satisfactory to Buyer that the Property is properly zoned for its intended use and that the Property is in full compliance with
all such zoning regulations, which shall be provided by Buyer at Buyer’s sole expense; 
 (l) there has been no
“Insolvency Event” with respect to the Tenant. As used in this subsection (l), an “Insolvency Event” shall have occurred if the Tenant becomes insolvent within the meaning of the United States Bankruptcy Code, 11 U.S.C. Sec. 101
et seq., as amended (the “Bankruptcy Code”), files or notifies Seller or any affiliate of Seller that it intends to file a petition under the Bankruptcy Code, initiates a proceeding under any similar law or statute
relating to bankruptcy, insolvency, reorganization, winding up or adjustment of debts (collectively, hereinafter, an “Action”), becomes the subject of either a petition under the Bankruptcy Code or an Action, or is not generally
paying its debts as the same become due; 
 (m) Tenant has accepted possession of the Property and is contractually obligated to
pay, and has commenced payment of, full rent pursuant to the Lease; 
 (n) delivery to Buyer of the original, fully-executed
Lease, and a copy of all guaranties thereof, all exhibits, amendments and other modifications thereto, if any; and 
 (o)
delivery to Buyer of originals of the Contracts, Warranties and Permits, if any, in the possession of Seller or Seller’s agents, including, without limitation, any warranties covering the roof or any other part of the Improvements, and any
correspondence with respect thereto, together with such non-proprietary leasing and property manuals, files and records which are material in connection with the continued operation, leasing and maintenance of the Property. 

If the foregoing conditions have not been satisfied by the specified date or COE as the case may be, then Buyer shall have the right, at Buyer’s
sole option, by giving written notice to Seller and Escrow Agent, to (i) cancel this Agreement, whereupon the Earnest Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither
of the Parties shall have any further liability or obligation under this Agreement, or (ii) extend such specified date or COE, as applicable, for such amount of time as Buyer deems reasonably necessary to allow Seller to satisfy such
conditions. If Buyer elects to terminate this Agreement pursuant to this Section 12, it shall, upon the request of Seller, execute a quit claim deed of the Property to Seller, or execute such other documentation as reasonably requested by
Seller to terminate this Agreement and transfer to Seller any equitable interest in the Property that Buyer may have by reason of this Agreement. The requirement to execute such documentation shall survive the termination of this Agreement.

 13. SELLER’S REPRESENTATIONS WARRANTIES AND COVENANTS. 

(a) Seller hereby represents and warrants to Buyer as of the Effective Date and again as of COE that: 

(i) this transaction will not in any way violate any other agreements to which Seller is a party; 

(ii) Seller has full power and authority to execute, deliver and perform under this Agreement as well as under the Transfer Documents,
the agreed upon forms of which are attached hereto as Exhibits; 
 (iii) the execution, delivery and performance of this
Agreement and the Transfer Documents, the agreed upon forms of which are attached hereto as Exhibits, have not and will not constitute a breach or default under any other agreement, law or court order under which Seller is a party or may be bound;

 (iv) no consent of any third party is required in order for Seller to enter into this Agreement and perform Seller’s
obligations hereunder; 
 (v) any existing financing obtained by Seller and secured by the Property or any part thereof shall
be satisfied and discharged in full at or prior to COE and any liens or encumbrances relating thereto shall be terminated and released of record at or prior to COE; 
 (vi) there are no suits or claims pending with respect to or in any manner affecting the Property or the Tenant; 
 (vii) Seller has not taken any action before any governmental authority having jurisdiction thereover, the object of which would be to change the present zoning of or other land-use limitations, upon the
Property, or any portion thereof, or its potential use; 
 (viii) no default of Seller exists under the Lease; Seller has sent
no written notice of default to Tenant and no default of Tenant exists under the Lease; 
 (ix) to the extent Seller is the
original Landlord under the Lease, the Lease was negotiated in an arms-length transaction; and 
 (x) no default of Seller
exists under any of the Contracts. 
 (b) Seller hereby represents and warrants to Buyer as of the Effective Date and again as
of COE, to Seller’s actual knowledge, that: 
 (i) there are no unrecorded leases (other than the Lease), liens or
encumbrances which may affect title to the Property and Seller does not have any defeasance, lender approval or prepayment obligations with respect to any existing financing which will delay the originally-scheduled COE; 

 (ii) no notice of violation has been issued with regard to any applicable regulation,
ordinance, requirement, covenant, condition or restriction relating to the present use or occupancy of the Property by any person, authority or agency having jurisdiction; 
 (iii) there are no intended public improvements which will or could result in any charges being assessed against the Property which will result in a lien upon the Property except as may be disclosed in
the Report; 
 (iv) there is no impending or contemplated condemnation or taking by inverse condemnation of the Property, or
any portion thereof, by any governmental authorities; 
 (v) there are no suits or claims threatened with respect to or in any
manner affecting the Property or the Tenant, nor does Seller know of any circumstances which should or could reasonably form the basis for any such suits or claims which have not been disclosed in writing to Buyer by Seller; 

(vi) Seller has not entered into and there is not existing any other agreement, written or oral, under which Seller is or could become
obligated to sell the Property, or any portion thereof, to a third party; 
 (vii) there are no pending proceedings, the object
of which would be to change the present zoning or other land-use limitations; 
 (viii) Seller has not received any notice or
correspondence from Tenant or Tenant’s agents indicating Tenant’s intent to amend, modify or terminate the Lease; 

(ix) no default of any party to any of the Contracts (other than Seller) exists under any of the Contracts; 

(x) except as set forth in Seller’s Diligence Materials, Seller has no actual knowledge that there exists or has existed, and
Seller itself has not caused any generation, production, location, transportation, storage, treatment, discharge, disposal, release or threatened release upon, under or about the Property of any Hazardous Materials. “Hazardous
Materials” shall mean any flammables, explosives, radioactive materials, hazardous wastes, hazardous and toxic substances or related materials, asbestos or any material containing asbestos (including, without limitation, vinyl asbestos
tile), or any other substance or material, defined as a “hazardous substance” by any federal, state, or local environmental law, ordinance, rule or regulation including, without limitation, the Federal Comprehensive Environmental Response
Compensation and Liability Act of 1980, as amended, the Federal Hazardous Materials Transportation Act, as amended, the Federal Resource Conservation and Recovery Act, as amended, and the rules and regulations adopted and promulgated pursuant to
each of the foregoing; 
 (xi) except as set forth in Seller’s Diligence Materials, there is not now, nor has there ever
been, on or in the Property underground storage tanks, any asbestos-containing materials or any polychlorinated biphenyls, including those used in hydraulic oils, electric transformers, or other equipment; 

 (xii) there are no proceedings pending for the increased valuation of the Real Property.

 The phrase “to Seller’s actual knowledge” or a phrase of similar nature means the actual and not constructive
knowledge of Casey Hankinson, Vice President of Development, and, as to the representations contained in Subsections 13(b)(x) and 13(b)(xi) above, Jon Blaha, Senior Environmental Specialist of Ryan Companies US, Inc., as of the Effective Date of
this Agreement without any duty of inquiry or investigation. Seller hereby represents and warrants to Buyer that Jon Blaha and Casey Hankinson are the individuals most familiar with the Property, its operations, its condition and the matters set
forth in Sections 13(a) and 13(b) hereof. There shall be no personal liability on the part of Jon Blaha or Casey Hankinson arising out of any of the Seller’s representations and warranties. 

(c) Further, Seller hereby covenants to Buyer as of the Effective Date and prior to COE or the earlier termination of this agreement
that: 
 (i) Seller will not enter into nor execute any agreement, written or oral, under which Seller is or could become
obligated to sell the Property, or any portion thereof, to a third party, without Buyer’s prior written consent; 
 (ii)
Seller will not, without the prior written consent of Buyer, take any action before any governmental authority having jurisdiction thereover, the object of which would be to change the present zoning of or other land-use limitations, upon the
Property, or any portion thereof, or its potential use; 
 (iii) except for any item to be prorated at COE in accordance with
this Agreement, all bills or other charges, costs or expenses arising out of or in connection with or resulting from Seller’s use, ownership, or operation of the Property up to COE shall be paid in full by Seller or by Tenant; 

(iv) all general real estate taxes, assessments and personal property taxes that have become due with respect to the Property (except
for those that will be prorated at COE) have been paid or will be so paid by Seller prior to COE; 
 (v) between the Effective
Date and COE or any earlier termination of this Agreement, Seller shall not execute or enter into any lease with respect to the Property or any part thereof, without Buyer’s prior written consent, which consent may be withheld at Buyer’s
sole discretion, 
 (vi) Seller shall promptly deliver to Buyer a copy of any termination, amendment, modification, extension
or waiver or any rights under the Lease executed or granted prior to expiration of the Study Period and Buyer shall have until the later of (y) the expiration of the Study Period, or (z) five (5) business days from its receipt thereof
to terminate this Agreement; 

 (vii) Seller shall not terminate, amend, modify, extend or waive any rights under the Lease
between the end of the Study Period and COE without Buyer’s prior written consent, which consent may be withheld at Buyer’s sole discretion; 
 (viii) between the Effective Date and COE or any earlier termination of this Agreement, Seller shall, at its sole cost: 
 (1) continue to operate the Property as heretofore operated by Seller subject to Tenant’s rights and obligations under the Lease and ensure that construction of the Improvements will be undertaken in
accordance with the requirements of the Lease; 
 (2) from and after substantial completion of the Improvements, maintain or
cause Tenant to maintain the Property in its current condition in accordance with the Lease; 
 (3) pay or cause Tenant to pay
(as applicable pursuant to the Lease) prior to COE, all sums due for work, materials or services furnished or otherwise incurred in the construction, ownership, use or operation of the Property up to COE; 

(4) comply or cause Tenant to comply, as required by the Lease, with all governmental requirements applicable to the Property;

 (5) except as required by the Lease or a governmental agency, not place or permit to be placed on any portion of the
Property any new improvements of any kind or remove or permit any improvements to be removed from the Property without the prior written consent of Buyer, which shall not be unreasonably withheld; 

(6) without Buyer’s prior written consent, Seller shall not, by voluntary or intentional act or omission to act, further cause or
create any easement, encumbrance, or mechanic’s or materialmen’s liens, and/or similar liens or encumbrances to arise or to be imposed upon the Premises or any portion thereof that effects title thereto; and 

(7) use commercially reasonable efforts to cause Tenant to comply in all respects with the terms, covenants and conditions of the Lease;

 (ix) if Buyer becomes subject to any action or claim pertaining to Hazardous Materials at the Property, other than Hazardous
Materials caused by Buyer or released on the Property after COE, Seller shall and hereby does assign to Buyer, effective as of COE, all claims, counterclaims, defenses, or actions, whether at common law, or pursuant to any other applicable federal
or state or other laws which Seller may have against any third parties (“Claims”) relating to the existence of any Hazardous Materials in, at, on, under or about the Property (including Hazardous Materials released on the Property prior to
COE and continuing in existence on the Property at COE), provided, however, Seller reserves the right to assert such Claims to the extent Seller is subject to any action or claim pertaining to Hazardous Materials at the Property; 

 (x) Seller shall not, without the prior written consent of Buyer, provide a copy of, nor
disclose any of the terms of, this Agreement to any appraiser, unless required by court order or applicable laws; and 
 (xi)
should Seller receive notice or knowledge of any information regarding any of the matters set forth in this Section 13 after the Effective Date and prior to COE, Seller will promptly notify Buyer of the same in writing. 

All representations and warranties made in this Agreement by Seller shall survive the execution and delivery of this Agreement and COE
for a period of twelve (12) months; provided, however, Buyer’s election to close with actual knowledge of the breach of one or more of these representations or warranties shall be deemed to constitute a waiver by Buyer of the breach(es) of
which Buyer has such actual knowledge. Seller shall and does hereby indemnify against and hold Buyer harmless from any loss, damage, liability and expense, together with all court costs and reasonable attorneys’ fees which Buyer may incur, by
reason of any material misrepresentation by Seller or any material breach of any of Seller’s warranties which is incapable of cure or which Seller fails to cure within thirty (30) days after notice and demand for cure from Buyer.
Seller’s indemnity and hold harmless obligations shall survive COE for a period of twelve (12) months. 
 Buyer
acknowledges and agrees that if Buyer elects to purchase the Property, except for the express representations and warranties of Seller set forth above in this Section 13 or set forth in the Deed, Buyer will rely on its own due diligence
inspections of the Property and Buyer will be acquiring the Property “AS IS, WHERE IS, WITH ALL FAULTS AND DEFECTS.” Except as otherwise provided in the express representations and warranties set forth above in this Section 13 and any
representations and warranties set forth in any instrument or document executed in connection with the Closing (including without limitation, Seller’s Special Warranty Deed), Seller hereby specifically disclaims any representation or warranty,
whether express, implied or statutory, whether oral or written, with respect to the Property. 
 14. BUYER’S
REPRESENTATIONS WARRANTIES AND COVENANTS. 
 (a) Buyer hereby represents and warrants to Seller as of the Effective Date and
again as of COE that: 
 (i) Buyer has full power and authority to execute, deliver and perform under this Agreement as well as
under the Transfer Documents, the agreed upon forms of which are attached hereto as Exhibits; 
 (ii) there are no actions or
proceedings pending or to Buyer’s knowledge, threatened against Buyer which may in any manner whatsoever affect the validity or enforceability of this Agreement or any of the documents, the agreed upon forms of which are attached hereto as
Exhibits; and 

 (iii) the execution, delivery and performance of this Agreement and the Transfer Documents,
the agreed upon forms of which are attached hereto as Exhibits, have not and will not constitute a breach or default under any other agreement, law or court order under which Buyer is a party or may be bound. 

(b) Further, Buyer hereby covenants to Seller as of the Effective Date that: 

(i) should Buyer receive notice or knowledge of any information regarding any of the matters set forth in this Section 14 after the
Effective Date and prior to COE, Buyer will promptly notify Seller of the same in writing. 
 All representations and warranties
made in this Agreement by Buyer shall survive the execution and delivery of this Agreement and COE for a period of twelve (12) months. Buyer shall and does hereby indemnify against and hold Seller harmless from any loss, damage, liability and
expense, together with all court costs and attorneys’ fees, if awarded by a court of law, which Seller may incur, by reason of any material misrepresentation by Buyer or any material breach of any of Buyer’s warranties which is incapable
of cure or which Buyer fails to cure within thirty (30) days after notice and demand from Seller. Buyer’s indemnity and hold harmless obligations shall survive COE for a period of twelve (12) months. 

15. RENTS AND DEPOSITS. Seller and Buyer agree that, in addition to all other conditions and covenants contained herein, Seller
shall deliver to Buyer and Escrow Agent not later than the day immediately prior to COE a written certification of Seller, to be true and accurate as of the date thereof and as of the date of COE, with respect to prepaid rents, including, without
limitation, the amount thereof and the date to which such rents have been paid. Seller represents to Buyer that there was no security deposit paid by Tenant or required by Tenant under the Lease. 

16. BROKER’S COMMISSION. Concerning any brokerage commission, the Parties agree as follows: 

(a) the Parties warrant to one another that they have not dealt with any finder, broker or realtor in connection with this Agreement; and

 (b) if any person shall assert a claim to a finder’s fee or brokerage commission on account of alleged employment as a
finder or broker in connection with this Agreement, the Party under whom the finder or broker is claiming shall indemnify and hold the other Party harmless from and against any such claim and all costs, expenses and liabilities incurred in
connection with such claim or any action or proceeding brought on such claim, including, but not limited to, reasonable counsel and witness fees and court costs in defending against such claim. The provisions of this subsection shall survive
cancellation of this Agreement or COE. 
 17. CLOSE OF ESCROW. COE shall be on or before 5:00 p.m.
CST on the tenth (10th) day after the later of
(a) the expiration of the Extended Study Period, or (b) the date Buyer 

 
receives written evidence from Seller that Tenant has commenced paying rent under the Lease (the “Closing Date”). Buyer may extend the Closing Date for up to an additional
fifteen (15) days upon delivery of written notice to extend the Closing Date to Escrow Agent prior to the original Closing Date. 
 18. ASSIGNMENT. This Agreement may not be assigned by Seller without the prior written consent of Buyer which consent shall not be unreasonably withheld. Buyer may assign its rights under this
Agreement to an affiliate of Buyer without seeking or obtaining Seller’s consent. Such assignment shall not become effective until written notice of such assignment is delivered to Seller and the assignee executes an instrument whereby such
assignee expressly assumes all unperformed obligations of Buyer under this Agreement, which instrument shall be delivered to Seller at or prior to COE. Buyer may also designate someone other than Buyer, as grantee and/or assignee, under the Transfer
Documents by providing written notice of such designation at least five (5) days prior to COE. No assignment shall release or otherwise relieve Buyer from any obligations hereunder; provided, however, with respect to any
assignment, if COE occurs, the assigning party (but not the assignee) shall be relieved of all its obligations arising under this Agreement before, on and after COE. 
 19. RISK OF LOSS. Seller shall bear all risk of loss, damage or taking of the Property which may occur prior to COE (any such loss, damage or taking a “Risk of Loss Event”). In the
event of any Risk of Loss Event prior to COE which is “Material” (as defined below), Buyer may, at Buyer’s sole option, by written notice to Seller and Escrow Agent, cancel this Agreement whereupon the Earnest Money Deposit shall be
paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation hereunder. In the event of any Risk of Loss Event which does not result in a
termination of this Agreement, then, except as otherwise provided in the Lease, Seller shall at COE and as a condition precedent thereto, pay Buyer or credit Buyer against the Purchase Price the amount of any insurance or condemnation proceeds, or
assign to Buyer, as of COE and in a form reasonably acceptable to Buyer, all rights or claims for relief to the same. 
 As used
herein, the term “Material” shall mean (i) with respect to a Risk of Loss Event related to casualty, such Risk of Loss Event results in (a) Tenant having a right of termination under the Lease and the Tenant does not waive such
right of termination in writing prior to the date that is ten (10) days from the date that Buyer receives notice of the Risk of Loss Event, (b) Tenant having the right to permanently or temporarily abate or offset its rent under the Lease,
(c) damage to the Property the cost of which to repair is reasonably estimated to exceed $400,000, or (d) damage to the Property that is not fully covered by insurance (unless Seller agrees in writing to contribute, as a credit to Buyer
against the Purchase Price at COE, the full amount of such shortage); and (ii) with respect to a Risk of Loss Event related to condemnation, such Risk of Loss Event results in (a) Tenant having a right of termination under the applicable
Lease and Tenant does not waive such right of termination in writing prior to the date that is ten (10) days from the date that Buyer receives notice of the Risk of Loss Event, (b) Tenant having a right to permanently or temporarily abate
or offset its rent under the Lease, or (c) required repairs or renovations to the Property the cost of which is reasonably estimated to exceed $400,000. 

 20. REMEDIES. 

(a) Seller’s Breach. If Seller breaches this Agreement, and fails to cure such breach within ten (10) days after receipt
of written notice of such breach from Buyer, including, without limitation, a breach of any representation or warranty of Seller set forth herein, Buyer may, at Buyer’s sole option, either: (i) by written notice to Seller and Escrow Agent,
cancel this Agreement whereupon the Earnest Money Deposit shall be paid immediately by Escrow Agent to Buyer, Seller shall promptly reimburse to Buyer its reasonable out-of-pocket and third-party property diligence expenses and, except as otherwise
provided in this Agreement, neither of the Parties shall have any further liability or obligation hereunder; or (ii) seek specific performance against Seller in which event COE shall be automatically extended as necessary, provided, however,
that Buyer must commence an action for specific performance within three (3) months after the scheduled COE or such right shall be deemed waived. The foregoing restriction on remedies shall not be deemed to limit Buyer’s right to seek
actual (but not consequential) damages with respect to any breach discovered after Closing of Seller’s representations and warranties pursuant to Section 13. Notwithstanding the foregoing, if specific performance is unavailable as a remedy
to Buyer because of Seller’s affirmative act or intentional omission, Buyer shall be entitled to pursue all rights and remedies available at law or in equity. 
 (b) Buyer’s Breach. If Buyer breaches this Agreement, as its sole remedy Seller shall be entitled to retain the Earnest Money Deposit in accordance with subsection 5(b) as Seller’s agreed
and total liquidated damages, provided, however, in the event that Buyer has failed to pay any portion of the Earnest Money Deposit as required under this Agreement, Seller shall have the right to seek damages against Buyer in an amount equal to
such unpaid portion of the Earnest Money Deposit. Seller hereby waives any right to seek any equitable or legal remedies against Buyer, provided, however, the foregoing restriction on remedies shall not be deemed to limit Seller’s right to seek
actual (but not consequential) damages with respect to any breach by Buyer with respect to its indemnity obligations under this Agreement. 
 21. ATTORNEYS’ FEES. If there is any litigation to enforce any provisions or rights arising under this Agreement, the unsuccessful party in such litigation, as determined by the court, agrees
to pay the successful party, as determined by the court, all costs and expenses, including, but not limited to, reasonable attorneys’ fees incurred by the successful party, such fees to be determined by the court. For purposes of this
Section 21, a party will be considered to be the “successful party” if (a) such party initiated the litigation and substantially obtained the relief which it sought (whether by judgment, voluntary agreement or action of the other
party, trial, or alternative dispute resolution process), (b) such party did not initiate the litigation and either (i) received a judgment in its favor, or (ii) did not receive judgment in its favor, but the party receiving the
judgment did not substantially obtain the relief which it sought, or (c) the other party to the litigation withdrew its claim or action without having substantially received the relief which it was seeking. 

22. NOTICES. 
 (a) Addresses. Except as otherwise required by law, any notice required or permitted hereunder shall be in writing and shall be given by personal delivery, or by deposit in

 
the U.S. Mail, certified or registered, return receipt requested, postage prepaid, addressed to the Parties at the addresses set forth below, or at such other address as a Party may designate in
writing pursuant hereto, or telecopy (fax), or any express or overnight delivery service (e.g., Federal Express), delivery charges prepaid, or by e-mail, read receipt requested, with an original notice to follow via one of the other methods
of delivery contemplated by this Section 22: 
  

			
	 if to Seller:
	  	Ryan Ankeny, LLC
		  	c/o Ryan Companies US, Inc.
		  	50 South Tenth Street, Suite 300
		  	Minneapolis, MN 55403-2012
		  	Attn:     Mr. Andy Finn
		  	Tel.:     (612) 492-4398
		  	Fax:     (612) 492-3398
		  	E-mail: andy.finn@ryancompanies.com
		
	 with copies to:
	  	Ryan Companies US, Inc.
		  	50 South Tenth Street, Suite 300
		  	Minneapolis, MN 55403-2012
		  	Attn:    Audra Williams, Esq.
		  	Tel.:     (612) 492-4423
		  	Fax:     (612) 492-3423
		  	E-mail: audra.williams@ryancompanies.com
		
	if to Buyer:	  	Series C, LLC
		  	c/o Cole Real Estate Investments
		  	2325 E. Camelback Road, Suite 1100
		  	Phoenix, AZ 85016
		  	Attn:     Legal Department
		  	Tel.:     (602) 778-8700
		  	Fax:     (480) 449-7012
		  	E-mail: tweiss@colecapital.com
		
	 with copies to:
	  	Snell & Wilmer L.L.P.
		  	One Arizona Center
		  	400 E. Van Buren Street
		  	Phoenix, AZ 85004
		  	Attn:     Kevin T. Lytle, Esq.
		  	Tel.:     (602) 382-6065
		  	Fax:     (602) 382-6070
		  	E-mail: klytle@swlaw.com

			
	 If to Escrow Agent:
	  	First American Title Insurance Company
		  	2425 E. Camelback Road, Suite 400
		  	Phoenix, AZ 85016
		  	Attn:    Mr. Brandon Grajewski
		  	Tel.:     (602) 567-8145
		  	Fax:     (602) 567-8101
		  	E-mail: bgrajewski@firstam.com

 (b) Effective Date of Notices. Notice shall be deemed to have been given on the date on which
notice is delivered, if notice is given by personal delivery, telecopy, or e-mail, and on the date of deposit in the mail, if mailed or deposited with the overnight carrier, if used. Notice shall be deemed to have been received (i) on the date
on which the notice is received, if notice is given by telecopy, e-mail, or personal delivery, (ii) on the first business day following deposit with an overnight carrier, if used, and (iii) on the second (2nd) day following deposit in
the U.S. Mail, if notice is mailed. If escrow has opened, a copy of any notice given to a party shall also be given to Escrow Agent by any method provided for herein. 
 23. CLOSING COSTS. 
 (a) Closing Costs. Seller and Buyer agree to
pay closing costs as indicated in this Agreement and in the escrow instructions attached hereto as Exhibit G, and by this reference incorporated herein (the “Escrow Instructions”). At COE, Seller shall pay (i) the costs of
releasing all liens, judgments, and other encumbrances that are to be released and of recording such releases, (ii) one-half the fees and costs due Escrow Agent for its escrow or closing services, (iii) the transfer tax associated with the
sale of the Property, if any, and (iv) all other costs to be paid by Seller under this Agreement. At COE, Buyer shall pay (i) one-half the fees and costs due Escrow Agent for its escrow or closing services, (ii) the cost of the
Survey, and (iii) all other costs to be paid by Buyer under this Agreement. Except as otherwise provided for in this Agreement, Seller and Buyer will each be solely responsible for and bear all of their own respective expenses, including,
without limitation, expenses of legal counsel, accountants, and other advisors incurred at any time in connection with pursuing or consummating the transaction contemplated herein. 

(b) Prorations. Real estate taxes and special assessments from and after rent commencement under the Lease are paid by the Tenant
and shall not be prorated, except that any installments of taxes or assessments actually paid by Tenant to Seller, as landlord, and not paid over to the taxing authority at the time of COE shall be credited to Buyer at Closing. Further, Seller shall
credit to Buyer at closing an amount equal to all unpaid taxes and assessments related to any period of time prior to the commencement of rent under the Lease, and, as between Seller and Buyer, Buyer shall take over and assume responsibility for all
taxes and assessments payable from and after Closing. All prorations shall be calculated through escrow as of COE based upon the latest available information, including, without limitation, a credit to Buyer for any rent prepaid by Tenant for the
period beginning with and including the date on which COE occurs and including the last day of the month in which COE occurs. All other credits to Buyer shall be similarly prorated. Any other closing costs not specifically designated as the
responsibility of either Party in the Escrow Instructions or in this Agreement shall be paid by Seller and Buyer 

 
according to the usual and customary allocation of the same for similar transactions in the Minneapolis/St. Paul greater metropolitan area. Seller agrees that all closing costs payable by Seller
shall be deducted from Seller’s proceeds otherwise payable to Seller at COE. Buyer shall deposit with Escrow Agent sufficient cash to pay all of Buyer’s closing costs. Except as provided in this Section 23(a), Seller and Buyer shall
each bear their own costs in regard to this Agreement. 
 (c) Lease Abatement Payments. Seller and Buyer acknowledge that
pursuant to the terms of the Lease, Basic Rent (as such term is defined in the Lease) otherwise payable under the Lease is subject to an abatement equal to $3,786.08 for each day after December 15, 2012 that the Property is not Substantially
Complete (as such term is defined in the Lease) and an abatement equal to $7,572.16 for each day after December 31, 2012 that the Property is not Substantially Complete. At closing, Seller shall credit Buyer an amount equal to all such
abatements to which Tenant is entitled from and after the Closing Date. 
 (d) Post-Closing Adjustment. If after COE, the
parties discover any errors in adjustments and apportionments or additional information becomes available which would render the closing prorations materially inaccurate, the same shall be corrected as soon after their discovery as possible. The
provision of this Section 23(c) shall survive COE for a period of eighteen (18) months, and no adjustment shall be made later than eighteen (18) months after COE unless prior to such date the Party seeking the adjustment shall have
delivered a written notice to the other Party specifying the nature and basis for such claim; provided, however, in the event an adjustment is sought due to the fact that current tax bills with respect to the Property had not yet been issued as of
COE, the provisions of this Section 23(c) shall survive with respect to any closing proration of real property taxes until thirty (30) days after Buyer’s receipt of tax bills for the period of time during which COE occurred. In the
event that such claim is valid, the Party against whom the claim is sought shall have ten (10) days in which to remit any adjustment due. 
 (e) Instructions. This Agreement, together with the Escrow Instructions, shall constitute escrow instructions for the transaction contemplated herein. Such escrow instructions shall be construed as
applying principally to Escrow Agent’s employment. 
 (f) Survival. The provisions of this Section 23 shall survive
COE. 
 24. ESCROW CANCELLATION CHARGES. If escrow fails to close because of Seller’s default, Seller shall be
liable for any cancellation charges of Escrow Agent. If escrow fails to close because of Buyer’s default, Buyer shall be liable for any cancellation charges of Escrow Agent. If escrow fails to close for any other reason, Seller and Buyer shall
each be liable for one-half of any cancellation charges of Escrow Agent. The provisions of this Section 24 shall survive cancellation of this Agreement. 
 25. APPROVALS. Concerning all matters in this Agreement requiring the consent or approval of any Party, the Parties agree that any such consent or approval shall not be unreasonably withheld unless
otherwise provided in this Agreement. 

 26. Intentionally Omitted. 

27. ADDITIONAL ACTS. The Parties agree to execute promptly such other documents and to perform such other acts as may be
reasonably necessary to carry out the purpose and intent of this Agreement. 
 28. GOVERNING LAW. This Agreement shall be
governed by and construed or enforced in accordance with the laws of the State of Iowa. 
 29. CONSTRUCTION. The terms
and provisions of this Agreement represent the results of negotiations among the Parties, each of which has been represented by counsel of its own choosing, and neither of which has acted under any duress or compulsion, whether legal, economic or
otherwise. Consequently, the terms and provisions of this Agreement shall be interpreted and construed in accordance with their usual and customary meanings, and the Parties each hereby waive the application of any rule of law which would otherwise
be applicable in connection with the interpretation and construction of this Agreement that ambiguous or conflicting terms or provisions contained in this Agreement shall be interpreted or construed against the Party whose attorney prepared the
executed Agreement or any earlier draft of the same. 
 30. TIME OF ESSENCE. Time is of the essence of this Agreement.
However, if this Agreement requires any act to be done or action to be taken on a date which is a Saturday, Sunday or legal holiday, such act or action shall be deemed to have been validly done or taken if done or taken on the next succeeding day
which is not a Saturday, Sunday or legal holiday, and the successive periods shall be deemed extended accordingly. Unless otherwise specifically provided herein, in computing any period of time described in this Agreement, the day of the act or
event after which the designated period of time begins to run is not to be included and the last day of the period so computed is to be included, unless such last day is a Saturday, Sunday or legal holiday under the laws of the State of Iowa, in
which event the period shall run until the end of the next day which is neither a Saturday, Sunday or legal holiday. The final day of such period shall be deemed to end at 11:59 p.m., CST. 

31. INTERPRETATION. If there is any specific and direct conflict between, or any ambiguity resulting from, the terms and
provisions of this Agreement and the terms and provisions of any document, instrument or other agreement executed in connection herewith or in furtherance hereof, including any Exhibits hereto, the same shall be consistently interpreted in such
manner as to give effect to the general purposes and intention as expressed in this Agreement which shall be deemed to prevail and control. 
 32. HEADINGS. The headings of this Agreement are for reference only and shall not limit or define the meaning of any provision of this Agreement. 

33. FAX AND COUNTERPARTS. This Agreement may be executed by facsimile, by email (in “.pdf” format) and/or in any number
of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same instrument. 

 34. INCORPORATION OF EXHIBITS BY REFERENCE. All Exhibits to this Agreement are fully
incorporated herein as though set forth at length herein. 
 35. SEVERABILITY. If any provision of this Agreement is
unenforceable, the remaining provisions shall nevertheless be kept in effect. 
 36. ENTIRE AGREEMENT. This Agreement
contains the entire agreement between the Parties and supersedes all prior agreements, oral or written, with respect to the subject matter hereof. The provisions of this Agreement shall be construed as a whole and not strictly for or against any
Party. 
 37. INDEMNITY. Seller shall indemnify, hold harmless and defend Buyer, Buyer’s affiliates, the partners,
trustees, shareholders, directors, officers, attorneys, employees and agents of each of them, and their respective heirs, successors, personal representatives and assigns (collectively, the “Indemnified Parties”) from any and all
demands, claims (including, without limitation, causes of action in tort), legal or administrative proceedings, losses, liabilities, damages, penalties, fines, liens, judgments, costs or expenses whatsoever (including, without limitation, reasonable
attorneys’ fees and costs), whether direct or indirect, known or unknown, foreseen or unforeseen (collectively, “Claims”) that may arise on account of or in any way be connected with any actions, suits, proceedings or claims brought
by third parties against Buyer (a) relating to any actual or alleged events, acts or omissions occurring with respect to the Property prior to COE, and/or (b) based upon Buyer’s ownership of the Property but with respect to which the
claimed loss, damage or injury occurred prior to COE. Buyer shall indemnify, hold harmless and defend Seller, Seller’s affiliates, the partners, trustees, shareholders, directors, officers, attorneys, employees and agents of each of them, and
their respective heirs, successors, personal representatives and assigns from any and all Claims that may arise on account of or in any way be connected with any actions, suits, proceedings or claims brought by third parties against Seller
(y) relating to any actual or alleged events, acts or omissions occurring with respect to the Property from and after COE, and/or (z) based upon Seller’s ownership of the Property but with respect to which the claimed loss, damage or
injury occurred from and after COE. The provisions of this Section 37 shall survive COE for a period of twelve (12) months. 
 38. PRIVILEGE TAXES. Seller represents, warrants and covenants to Buyer that all state and local transaction privilege, sales, excise, use or similar taxes relating to the development, sale or
rental of the Property (including, without limitation any speculative builder tax, owner-builder tax, or construction contractor tax) have been paid and Seller shall pay any such taxes that may arise as a result of the sale of the Property to Buyer
as and when due. Seller shall indemnify, hold harmless and defend the Indemnified Parties from any and all Claims relating to a breach of the preceding sentence. The provisions of this Section shall survive COE. 

39. SEC S-X 3-14 AUDIT. In order to enable Buyer to comply with reporting requirements, Seller agrees to
provide Buyer and its representatives information sufficient for Buyer to comply with SEC Rule 3-14 of Regulation S-X, including Seller’s most current financial statements relating to the financial operation of the Property for the
current fiscal year and the most recent pre-acquisition fiscal year, and upon request, support for certain operating 

 
revenues and expenses specific to the Property (collectively, the “SEC Filing Information”). Seller understands that certain of such financial information may be included in
filings required to be made by Buyer with the U.S. Securities and Exchange Commission. Nothing herein shall be deemed to require Seller to deliver any information to Buyer about Seller as a corporate entity, unrelated to the Property, it being
agreed that Seller shall provide the foregoing as to the income and expenses related to the Property only. This Section 39 shall survive Closing for a period of one (1) year. 

40. PUNCHLIST HOLDBACK. If the tenant estoppel certificate indicates that there are any unperformed, incomplete, defective or
deficient items (collectively, “Punchlist Items”) still to be completed by Seller with respect to the Property and if, prior to COE, Tenant has not confirmed to Seller in writing that such items have been completed to Tenant’s
reasonable satisfaction, then, provided that Seller agrees to escrow an amount equal to One Hundred Twenty-Five Percent (125%) of the estimated cost to cure all Punchlist Items yet uncured (such cost to be estimated by Seller’s general
contractor or architect, subject to Buyer’s reasonable approval of such estimate) (the “Punchlist Escrow”), Buyer agrees that the existence of such Punchlist Items shall not be a reasonable basis upon which to reject the tenant
estoppel certificate. The Punchlist Escrow shall be deducted by the Escrow Agent from the Purchase Price and shall be held by the Escrow Agent pursuant to the terms of post-closing holdback agreement executed by Buyer, Seller and Escrow Agent, which
shall provide, in part, for release of the Punchlist Escrow to Seller upon written confirmation from Tenant of completion of the Punchlist Items and as more particularly set forth below. Buyer and Seller shall use good faith efforts to agree upon
the form of such escrow agreement during the Study Period. 
 After Closing, Seller and its agents and contractors shall have
access to the Property to the limited extent necessary to complete the Punchlist Items, subject to the rights of Tenant under the Lease. If Buyer has not received written confirmation from Tenant that all Punchlist Items have been completed to
Tenant’s reasonable satisfaction within the earlier of (a) ninety (90) days following COE, or (b) any applicable deadline for completion of such Punchlist Items set forth in the Lease, or if Seller and/or Buyer has received
notice from Tenant that the landlord is in default of its obligations under the Lease with respect to the Punchlist Items, then Buyer shall be entitled, but not obligated, to undertake the cure of any remaining Punchlist Items and in connection
therewith shall be entitled to retain up to the entire balance of the Punchlist Escrow upon presentation to Escrow Agent of invoices and other receipts for expenses reasonably incurred in connection therewith. Further, upon presentation by Buyer of
evidence reasonably satisfactory to Seller that Buyer expended amounts in excess of the amount of the Punchlist Escrow to complete such Punchlist Items, Seller shall pay or cause to be paid to Buyer an amount equal to such excess within fifteen
(15) days after receipt of such evidence. The provisions of this Section 40 shall survive COE. 
 41. Intentionally
deleted. 
 42. LIKE-KIND EXCHANGE. (a) Seller agrees to reasonably cooperate with Buyer by executing such
documents or taking such action as Buyer reasonably requests in connection with any tax deferred exchange pursuant to Section 1031 of the Tax Code, provided that (i) the transaction contemplated by this Agreement shall not be conditioned
upon completion of such 

 
exchange; (ii) Seller shall not be required to take title to any real property in connection with any such exchange; (iii) Seller shall not incur any liability by reason of any such
exchange; and (iv) Seller shall not be relieved of any of its obligations under this Agreement as a result of any such exchange. 
 (b) Buyer agrees to reasonably cooperate with Seller by executing such documents or taking such action as Seller reasonably requests in connection with any tax deferred exchange pursuant to
Section 1031 of the Tax Code, provided that (i) the transaction contemplated by this Agreement shall not be conditioned upon completion of such exchange; (ii) Buyer shall not be required to take title to any real property (other than
the Property) in connection with any such exchange; (iii) Buyer shall not incur any liability by reason of any such exchange; and (iv) Buyer shall not be relieved of any of its obligations under this Agreement as a result of any such
exchange. 
 IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement as of the Effective Date. 

 

					
	 SELLER:
	 	RYAN ANKENY, LLC
		 	a Minnesota limited liability company
			
		 	By:	 	 /s/ Timothy M. Gray

		 	Name:	 	 Timothy M. Gray

		 	Its:	 	 President

		
	 BUYER:
	 	SERIES C, LLC,
		 	an Arizona limited liability company
			
		 	By:	 	 /s/ John M. Pons

		 	Name:	 	 John M. Pons

		 	Its:	 	 Authorized OfficerEX-10.16

 Exhibit 10.16 

 
 AMENDED AND RESTATED 

AGREEMENT OF PURCHASE AND SALE 
 by and among 
 CV COLISEUM BUILDING, LLC 

CV COLISEUM LEASE 1, LLC and 
 CV COLISEUM LEASE 2, LLC 
 as Seller, 

and 

SERIES C, LLC 
 as Buyer 

 TABLE OF CONTENTS 

 

							
	 Section
	  	Page	 
			
	   1.
	  	Definitions	  	 	-1-	  
			
	   2.
	  	Agreement to Purchase and Sell; Deposit	  	 	-3-	  
			
	   3.
	  	Property	  	 	-7-	  
			
	   4.
	  	Documents Furnished by Seller; Confidentiality	  	 	-8-	  
			
	   5.
	  	Title	  	 	-8-	  
			
	   6.
	  	Buyer’s Inspection of the Property	  	 	-9-	  
			
	   7.
	  	Representations and Warranties	  	 	-12-	  
			
	   8.
	  	Buyer’s Conditions to Closing	  	 	-16-	  
			
	   9.
	  	Closing	  	 	-18-	  
			
	 10.
	  	Adjustments and Prorations	  	 	-21-	  
			
	 11.
	  	Expenses	  	 	-24-	  
			
	 12.
	  	Risk of Loss; Casualty and Eminent Domain	  	 	-25-	  
			
	 13.
	  	Broker	  	 	-26-	  
			
	 14.
	  	Management of the Property Prior to Closing; Exclusivity	  	 	-26-	  
			
	 15.
	  	Defaults	  	 	-27-	  
			
	 16.
	  	Notices	  	 	-28-	  
			
	 17.
	  	Assignment	  	 	-30-	  
			
	 18.
	  	Limitation of Liability	  	 	-30-	  
			
	 19.
	  	General Provisions	  	 	-31-	  
			
	 20.
	  	Post-Closing Obligations	  	 	-33-	  

  
 -i-

 EXHIBITS 

 

							
	 A-1
	  	 	–	  	    	Legal Description of One Coliseum Centre
	 A-2
	  	 	–	  	    	Legal Description of Two Coliseum Centre
	 B
	  	 	–	  	    	Escrow Agreement
	 C
	  	 	–	  	    	Schedule of Leases
	 D
	  	 	–	  	    	Schedule of Service Contracts
	 E
	  	 	–	  	    	Review Materials
	 F
	  	 	–	  	    	Blanket Transfer, Assignment, and Bill of Sale
	 G
	  	 	–	  	    	Lease Assignment
	 H
	  	 	–	  	    	Estoppel Certificates
	 I
	  	 	–	  	    	Deed
	 J
	  	 	–	  	    	Assignment and Assumption of Ground Lease
	 K
	  	 	–	  	    	Assignment of Service Contracts
	 L
	  	 	–	  	    	Assignment of Escrow Agreements
	 M
	  	 	–	  	    	Post Closing Holdback/Escrow Agreement
	 N
	  	 	–	  	    	Approved Title Policy
	 O
	  	 	–	  	    	CC&Rs
	 P
	  	 	–	  	    	Parking Deck Punch-List

 SCHEDULES 
  

			
	 Schedule 2.1.3
	    	Roof Installation Construction Contracts
		
	 Schedule 2.1.4
	    	Chiller Installation Construction Contract
		
	 Schedule 7.1.6
	    	Unfinished Landlord Work, Undisbursed Allowances, and Unpaid Leasing Commissions
		
	 Schedule 7.1.7
	    	Schedule of Agreements with Coliseum Transfer Inc. regarding Existing Leases

  
 -ii-

 AMENDED AND RESTATED 

AGREEMENT OF PURCHASE AND SALE 
 THIS AMENDED AND RESTATED AGREEMENT OF PURCHASE AND SALE (this “Agreement”) made as of the 22nd day of October, 2012, by and among CV COLISEUM BUILDING, LLC, a Delaware limited
liability company (“Coliseum Building”), CV COLISEUM LEASE 1, LLC, a Delaware limited liability company (“Coliseum Lease 1”), and CV COLISEUM LEASE 2, LLC, a Delaware limited liability company
(“Coliseum Lease 2”) (collectively, “Seller”) and SERIES C, LLC, an Arizona limited liability company (“Buyer”). 

RECITALS 

WHEREAS, Seller desires to sell and convey the Property (as defined in Section 3 herein) to Buyer and Buyer desires to
purchase and acquire the Property from Seller, upon the terms and subject to the conditions hereinafter set forth. 
 WHEREAS,
Buyer and Seller previously entered into that certain Agreement of Purchase and Sale dated as of July 3, 2012, as amended by that certain First Amendment to Agreement of Purchase and Sale dated as of August 3, 2012 (collectively, the
“Original Agreement”). This Agreement is an amendment and restatement of the terms and conditions of the Original Agreement as amended hereby, and the Original Agreement is hereby superseded in all respects by this Agreement.

 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Seller and Buyer hereby agree as follows: 
 1. Definitions.

 The following words and terms, when used in this Agreement, shall have the respective meanings ascribed to them below unless
the context otherwise requires: 
 “Affiliate” means any person or entity that directly, or indirectly
through one or more intermediaries, controls, is controlled by or is under common control with Buyer or Seller, as the case may be. For the purposes of this definition, “control” means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a person or entity, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” have the meanings
correlative to the foregoing. 
 “Authorities” means the various governmental and quasi-governmental
bodies or agencies having jurisdiction over the Property or any portion thereof. 
 “Business Day” means
any day other than a Saturday, Sunday or a day on which national banking associations are authorized or required to close. 

“Environmental Laws” means all federal, state, local and municipal environmental laws (including, without
limitation, principles of common law), rules, statutes, directives, binding 

  
 Schedule 7.1.7

 
written interpretations, binding written policies, ordinances and regulations issued by any Authorities and in effect as of the date of this Agreement with respect to or which otherwise pertain
to or affect the Property or any portion thereof, or the development, use, ownership, occupancy or operation of the Property or any portion thereof, and as same have been amended, modified or supplemented from time to time prior to and are in effect
as of the date of this Agreement, including but not limited to CERCLA, the Hazardous Substances Transportation Act (49 U.S.C. § 1802 et seq.), RCRA, the Water Pollution Control Act (33 U.S.C. § 1251 et seq.), the Safe Drinking
Water Act (42 U.S.C. § 300f et seq.), the Clean Air Act (42 U.S.C. § 7401 et seq.), the Toxic Substances Control Act (15 U.S.C. § 2601 et seq.), the Emergency Planning and Community Right-to-Know Act of 1986 (42 U.S.C.
§ 11001 et seq.), the Radon and Indoor Air Quality Research Act (42 U.S.C. § 7401 note, et seq.), comparable state and local laws, and any and all rules and regulations which are in effect as of the date of this Agreement under
any and all of the aforementioned laws. 
 “Coliseum Centre Office Park” means the real property, on
which six (6) office buildings have been developed, together with one undeveloped parcel, with the following addresses: 2300 Yorkmont Road, Charlotte, NC 28217, 2400 Yorkmont Road, Charlotte, NC 28217, 2550 West Tyvola Road, Charlotte, NC
28217, 2730 West Tyvola Road, Charlotte, NC 28217, 2810 Coliseum Centre Drive, Charlotte, NC 28217, 2815 Coliseum Centre Drive, Charlotte, NC 28217, and 2730 Coliseum Centre Drive, Charlotte, NC 28217. 

“Real Property” means, collectively, the following: 

(i) that certain approximately 7.78 acre parcel of land more fully described in Exhibit A-1 attached hereto (“One
Coliseum Centre Land”) owned by Coliseum Lease 1 having an address of 2300 Yorkmont Road, Charlotte, NC 28217, together with all buildings, and other improvements located thereon, including without limitation the office building known
as “One Coliseum Centre” and a portion of the Parking Deck described in Section 20.2, which land and improvements are leased by Coliseum Lease 1 to Coliseum Building pursuant to that certain Ground Lease Agreement
originally by and between the City of Charlotte and Lincoln Property Company No. 2072, Ltd., dated April 17, 1989, as amended and assigned (the “One CC Ground Lease,” with the leasehold estate created thereby being
herein referred to as the “One CC Leasehold Estate”); and 
 (ii) that certain approximately 7.28 acre
parcel of land more fully described in Exhibit A-2 attached hereto (“Two Coliseum Centre Land”) owned by Coliseum Lease 2 having an address of 2400 Yorkmont Road, Charlotte, NC 28217, together with all buildings
and other improvements located thereon, including without limitation the office building known as “Two Coliseum Centre” and a portion of the Parking Deck described in Section 20.2, which land and improvements are
leased by Coliseum Lease 2 to Coliseum Building pursuant to that certain Ground Lease Agreement originally by and between the City of Charlotte and Lincoln Property Company No. 2072, Ltd., dated May 9, 1994, as amended and assigned (the
“Two CC Ground Lease,” with the leasehold estate created thereby being herein referred to as the “Two CC Leasehold Estate”). 
 “Monetary Encumbrance” means a deed of trust or UCC Financing Statement encumbering the Property or a mechanic’s or materialmen’s lien or other encumbrance securing the
payment in the aggregate of a readily ascertainable sum of money due in connection with work performed by or at the direction of Seller. 

  
 -2-

 2. Agreement to Purchase and Sell; Deposit. 

2.1 Agreement to Purchase and Sell. Subject to and upon the terms and conditions contained in this Agreement, Seller agrees to
sell and convey the Property (as hereinafter defined) to Buyer and Buyer agrees to purchase the Property from Seller for a total purchase price of Forty Two Million One Hundred Seventy One Thousand and 00/100 Dollars ($42,171,000.00) (the
“Purchase Price”). Buyer may allocate the Purchase Price between One Coliseum Centre Land (and the One CC Leasehold Estate), and the Two Coliseum Centre Land (and the Two CC Leasehold Estate) for its accounting needs and
shall communicate allocations to Seller prior to the date that is fifteen (15) days prior to the Closing Date; Buyer acknowledges that such allocation is needed to be recited on the conveyance deed(s) for excise tax and recording purposes.

 2.1.1 Elevator Modernization Credit. Buyer shall receive a credit against the Purchase Price at Closing in an amount
of $335,000.00 for future elevator modernization at the Property. 
 2.1.2 Compass Stub Rent. In the event Compass (as
hereinafter defined) has not commenced paying rent under its Lease for Suite 170 (“Suite 170”) in One Coliseum Centre on the Closing Date, Purchaser shall receive a credit against the Purchase Price at Closing in an amount
equal to (i) One Hundred Forty Nine and 42/100 Dollars ($149.42), which is the per diem base rent and the allocable pro-rata share of real estate taxes, insurance, common area maintenance charges reimbursable to the landlord for Suite 170 under
the Compass Lease multiplied by (ii) the number of calendar days between (a) the Closing Date, and (b) the scheduled rent commencement date for Suite 170 under the Compass Lease. 

2.1.3 Roof Installation. Seller has agreed to install, at Seller’s sole cost and expense, new roofs on the office buildings
located on the One Coliseum Centre Land and Two Coliseum Center Land (collectively, the “Roof Installation”) in accordance with the scope of work outlined in the proposal dated October 5, 2012 attached hereto as
Schedule 2.1.3 and all applicable governmental requirements. If as of Closing, Seller has not completed the Roof Installation, Seller shall fund into escrow with the Escrow Agent an amount equal to 125% of the cost necessary to complete the
Roof Installation (the “Roof Escrow”) to be held and disbursed as more particularly described in the Post-Closing Holdback/Escrow Agreement, the form of which is attached hereto as Exhibit M. The Roof Installation
shall be deemed completed upon Seller’s delivery of the following documents and materials to Buyer: (i) a certificate from the installing contractor or engineer that the Roof Installation was completed in accordance with the scope of work
and the construction contract related thereto, (ii) evidence of payment of all costs in connection with the Roof Installation, including copies of final lien waivers from the contractor and all subcontractors involved in the performance of such
work; and (iii) all warranties and guaranties relating to the Roof Installation issued or transferred to Buyer. 
 The
provisions of this Section 2.1.3 shall survive Closing. 

  
 -3-

 2.1.4 Chiller Installation. Seller has agreed to install, at Seller’s sole cost
and expense, a new Chiller at the office building located on the Two Coliseum Centre Land (the “Chiller Installation”) in accordance with the scope of work outlined in the proposal dated September 28, 2012 attached
hereto as Schedule 2.1.4 and all applicable governmental requirements. If as of Closing, Seller has not completed the Chiller Installation, Seller shall fund into escrow with the Escrow Agent an amount equal to 125% of the cost necessary to
complete the Chiller Installation (the “Chiller Escrow”) to be held and disbursed as more particularly described in the Post-Closing Holdback/Escrow Agreement, the form of which is attached hereto as Exhibit M. The
Chiller Installation shall be deemed completed upon Seller’s delivery of the following documents and materials to Buyer: (i) a certificate from the installing contractor or engineer that the Chiller Installation was completed in accordance
with the scope of work and the construction contract related thereto, (ii) evidence of payment of all costs in connection with the Chiller Installation, including copies of final lien waivers from the contractor and all subcontractors involved
in the performance of such work; and (iii) all warranties and guaranties relating to the Chiller Installation issued or transferred to Buyer. 
 The provisions of this Section 2.1.4 shall survive Closing. 
 2.1.5 Earn
Out Escrow. At Closing, in addition to payment of the Purchase Price, Buyer will fund into an escrow with Escrow Agent the amount of $1,073,928.56 (“Earn Out Escrow”) to be held and applied pursuant to an agreement (an
“Earn Out Escrow Agreement”) among Buyer, Seller and Escrow Agent, consistent with the following terms.

(a) The parties acknowledge that the Property consists of tax parcels having lot ID numbers 14327302B, 14327302A, 14327301B, and 14327301A
(the “Tax Parcels”). Buyer has estimated the real estate taxes component of the Base Year Basic Costs (as such term is defined in the Compass Leases) for Compass (as defined in Section 20.2) under the Compass Leases (as
defined in Section 20.2 hereof) for calendar year 2013 will be $75,175 higher than the current 2011 Base Year Basic Cost RE Tax (as defined below) once the value of the parking garage is taken into account because of the construction of the
parking garage on the Property. Buyer and Seller have agreed that to the extent such estimate is too high and the tax component of the Base Year Basic Costs does not increase by that amount as a result of such parking garage construction, then
Seller shall be entitled to additional purchase price, not to exceed $1,073,928.56, to be calculated and paid as set forth in this Section 2.1.5. 
 (b) The following terms used in this Section 2.1.5 have the following meanings: 
 (i) “2011 Base Year Basic Cost RE Tax” means $470,901, which is the 2011 real estate taxes used in the calculation of the Base Year Basic Cost under the Compass Leases. Such figure
is based on a letter dated March 26, 2012 from the property manager (CBRE) to Compass, which established base year taxes at $246,353 and $224,548, for a total of $470,901.

(ii) “Final Revised Base Year Basic Cost RE Tax” means the 2011 Base Year Basic Cost RE Tax that has been
“Grossed Up” per the requirements of the 

  
 -4-

 
Compass Leases, (e.g., in Section 7.1 of the Compass Leases) to reflect the taxes related to the parking garage, by mutual agreement between Seller and Compass pursuant to this
Section 2.1.5. 
 (c) The Escrow Agent will release funds from the Earn Out Escrow the earlier of either (i) the date
that is the later of (A) twelve months following Closing and (B) the date on which the appeal permitted under subsection 2.1.5(d) below is completed (such later date, the “Outside Date”), or (ii) upon written
instruction from Buyer and Seller following determination of the Final Revised Base Year Basic Cost RE Tax, as more particularly provided below: 
 (i) The parties anticipate that after Closing, either Buyer or Seller will receive from the applicable taxing authority the projected 2013 ad valorem property taxes for the Tax Parcels, which projection
may identify what portion of the assessed value is attributable to the parking garage (the “2013 RE Tax Estimate”). 
 (ii) When either Seller or Buyer receives the 2013 RE Tax Estimate it shall promptly provide a copy thereof to the other party. Thereafter Seller may pursue the appeal contemplated by
Section 2.1.5(d) below, and shall, either prior to, during or following such appeal, use good faith efforts to work with Compass to reach agreement on the Final Revised Base Year Basic Cost RE Tax. Upon mutual agreement between the Seller and
Compass on the Final Revised Base Year Basic Cost RE Tax, as evidenced by written acknowledgement signed by Compass reflecting such amount and the final “Gross-Up” for the Base Year Basic Costs, Seller shall provide written notice to
Escrow Agent of such fact and Escrow Agent shall promptly thereafter disburse to Buyer an amount equal to the product of (a) the difference between Final Revised Base Year Basic Cost RE Tax less the 2011 Base Year Basic Cost RE
Taxes, divided by (b) 7%, such product is herein called the “Buyer Adjustment”. In addition, Escrow Agent shall disburse to Buyer an amount equal to the product of (x) the Buyer Adjustment multiplied by
(y) the number of days between Closing and the date the Buyer Adjustment was disbursed by Escrow Agent to Buyer, divided by 365 days, multiplied by (z) 7%, such product is herein called the “Buyer Escrow Carry
Payment”.
 (ii) Escrow Agent shall disburse to the Seller any funds remaining in the Earn Out
Escrow after paying Buyer the Buyer Adjustment and the Buyer Escrow Carry Payment.
 (iii) Under all
circumstances, (a) if the Buyer Adjustment is negative then Seller will receive the entire Earn Out Escrow, and (b) if the Buyer Adjustment is greater than the Earn Out Escrow, and/or the Buyer Adjustment and the Buyer Escrow Carry Payment
exceeds the Earn Out Escrow, then Seller shall pay to Buyer any portion of the Buyer Escrow Carry Payment that exceeds the amount (if any) remaining in the Earn Out Escrow after payment of the Buyer Adjustment, such payment to be made by Seller
within three (3) days following 

  
 -5-

 
Escrow Agent’s disbursement of the Buyer Adjustment to Buyer; provided, in no event will the Buyer Adjustment exceed $1,073,928.56.

(iv) For the purposes of illustration: Assuming a Final Revised Base Year Basic Cost RE Tax of $500,901 and
disbursement to Buyer thirty (30) days after Closing, the Buyer Adjustment would be: [($500,901—470,901)]/.07 = [$30,000]/.07 = $428,571.42; and the Buyer Escrow Carry Payment would be: $428,571.42 x 30 days/365days x 7% =
$2,465.75. In this event Escrow Agent would release $431,037.17 to the Buyer as the Buyer Adjustment and the Buyer Escrow Carry Payment and would release the remaining escrow balance of $642,891.39, ($1,073,928.56 -$431,037.17), to Seller.

 (v) On the Outside Date, as reasonably confirmed by Seller, Escrow Agent shall disburse to the Buyer any funds
remaining in the Earn Out Escrow. 
 (d) Tax Appeals. 

(i) Seller may, at its option and prior to negotiating and/or finalizing the Final Revised Base Year Basic Cost RE Tax
with Compass, elect, at Seller’s own cost, to appeal the 2013 RE Tax Estimate, and Buyer hereby grants Seller all authority necessary therefor. In addition, Buyer shall fully cooperate as reasonably necessary for Seller to undertake and
continue any such appeals. Seller shall have until thirty (30) days after the Outside Date to complete the determination of the Final Revised Base Year Basic Cost RE Tax. 
 The provisions of this Section 2.1.5 shall survive Closing. 
 2.2 Deposit;
Payment of Purchase Price. 
 2.2.1 Deposit. Within three (3) Business Days from the Effective Date (as defined
in Section 19.17), Buyer shall pay a good faith deposit in the amount of One Million and 00/100 Dollars ($1,000,000.00) (the “Deposit”), by wire or intra-bank transfer of immediately available funds, to Chicago
Title Insurance Company (the “Escrow Agent”) having an office at Chicago Title of North Carolina, 200 South Tryon Street, Suite 800, Charlotte NC 28202, Attn: M. Scott Mansfield, Esq. Escrow Agent shall give prompt written
confirmation to Seller of Escrow Agent’s receipt of any and all portions of the Deposit. 
 2.2.2 Generally. If the
Deposit is not paid when due, Seller shall have the right, at its option, to terminate this Agreement. The Deposit constitutes a deposit to be applied, subject to the provisions of this Agreement, toward the payment of the Purchase Price. The
Deposit shall be invested and disbursed by Escrow Agent in accordance with the terms and conditions of the Escrow Agreement attached hereto as Exhibit B the (“Escrow Agreement”) and to be executed by Seller,
Buyer and the Escrow Agent. All interest earned on the Deposit shall be paid to the party entitled to receive the Deposit. Buyer shall pay Seller by wire transfer of federal funds at the Closing (hereinafter defined) an amount (the
“Closing Payment”) equal to (i) the Purchase Price, (ii) plus or minus net adjustments and prorations provided for in this Agreement, and (iii) minus the Deposit. The Deposit shall be disbursed by Escrow Agent
to Seller at the Closing. 

  
 -6-

 2.2.3 Refundable/Non-Refundable. 

(a) A portion of the Deposit in the amount of $100.00 shall be deemed non-refundable to Buyer (and earned by Seller) when paid to Escrow
Agent, which the parties acknowledge is good and sufficient consideration for this Agreement. 
 (b) The Deposit shall be
non-refundable to Buyer, except as otherwise provided in this Agreement. 
 3. Property. 

The property to be sold and purchased pursuant to this Agreement (the “Property”) shall include all of
Seller’s right, title and interest in and to the Real Property, whether in fee simple or leasehold interests pursuant to the One CC Ground Lease and the Two CC Ground Lease, together with all right, title and interest of Seller, if any, in and
to the following, to the extent that the same apply exclusively to the use or operation of the Real Property: 
 3.1 all
easements, rights of way, privileges, licenses, appurtenances and other rights and benefits running with the Real Property; 

3.2 all fixtures, machinery, equipment and other tangible personal property owned by Seller (but not by other tenants of the Property)
and attached and appurtenant to, located on, or forming part of, the Real Property (the “Personal Property”); 
 3.3 Seller’s interest, as landlord, in (i) all currently existing leases, tenancy agreements, or occupancy agreements for space within the buildings located on the Real Property (the
“Existing Leases”), as listed in the Schedule of Leases attached hereto as Exhibit C (the “Schedule of Leases”), (ii) such additional leases, tenancy agreements, or occupancy
agreements for portions of the Real Property as may be entered into by Seller prior to the Closing in accordance with Section 14 (the “Additional Leases”, and collectively with the Existing Leases, the
“Leases”), (iii) all security deposits and advance payments paid or delivered to Seller under the Existing Leases and the Additional Leases, and (iv) each guaranty, if any, of any tenant’s duties and
obligations under any Lease; 
 3.4 all service, utility, maintenance and other contracts and agreements affecting the operation
of the Real Property and listed in Exhibit D attached hereto (collectively, the “Service Contracts”). Notwithstanding any of the foregoing to the contrary, Seller shall terminate, effective as of the Closing
Date, all existing management and leasing agreements with respect to the Property to which Seller is a party. Buyer acknowledges that some or all of the Service Contracts cover the Property as well as other properties in the Coliseum Centre Office
Park. During the term of this Agreement Seller shall use good faith commercially reasonable efforts to separate such Service Contracts with respect to the Property. If Seller is unable to separate any such Service Contracts, then Buyer and Seller
shall cooperate to separate such Service Contracts following Closing and shall prorate the payment obligations under each Service Contract until the termination, expiration, or separation thereof, with such proration based on rentable square footage
of the buildings covered by the applicable Service Contract. The foregoing terms shall survive the Closing. 

  
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 3.5 all consents, authorizations, variances, licenses, permits and certificates of
occupancy, if any, issued by any Authorities with respect to the Real Property (the “Approvals”); and 

3.6 all intangible personal property, if any, owned by Seller and related solely to the Real Property and Personal Property, including,
without limitation, all warranties and guarantees; all logos, trade or business names and telephone numbers; all plans, drawings and specifications; and all lease files and tenant correspondence relating to the Leases (collectively, the
“Intangibles”). 
 4. Documents Furnished by Seller; Confidentiality. 

Within three (3) Business Days from the Effective Date, Seller shall, to the extent in Seller’s possession or control, and not
previously delivered, deliver electronically or otherwise, copies of the following to the extent within the actual possession of Seller: (i) the Existing Leases, (ii) the Service Contracts and (iii) the materials, if and to the extent
existing, listed on Exhibit E attached hereto (collectively, the “Review Materials”); provided that in no event shall Seller be obligated to deliver or make available to Buyer any of Seller’s internal
memoranda or attorney-client privileged materials with respect to the Property. The Review Materials and all materials, books and records examined by or on behalf of Buyer pursuant to this Agreement shall: (i) be held in strict confidence by
Buyer; (ii) not be used for any purpose other than the investigation and evaluation of the Property by Buyer and its lenders, attorneys, investors, members, employees, agents, engineers, consultants and representatives (collectively,
“Buyer’s Agents”); and (iii) not be disclosed, divulged or otherwise furnished to any other person or entity prior to the Closing except to Buyer’s Agents or as required by law. If this Agreement is terminated
for any reason whatsoever, Buyer shall return to Seller (or certify the destruction of) all of the Review Materials in the possession of Buyer and Buyer’s Agents. The provisions of this Section shall survive the termination of this Agreement.

 5. Title. 
 5.1 Title. Escrow Agent (also referred to herein as the “Title Company”) issued and delivered to Buyer a title insurance commitment no. 12-0009273 with an effective date of
July 5, 2012 for the Property (the “Title Commitment”) on the ALTA Commitment-2006 form (endorsed to delete required arbitration), together with copies of all documents which are listed as exceptions therein. 

5.2 Survey. Seller delivered (or will deliver, pursuant to Section 4 herein), to Buyer copies of its existing surveys
of the Real Property (collectively the “Existing Survey”), such Existing Survey being dated March 14, 2012, last revised April 11, 2012 with respect to One Coliseum Centre, and dated March 12, 2012, last
revised April 11, 2012 with respect to Two Coliseum Centre; each prepared by LDSI. Buyer has obtained an update of the Existing Survey (the “New Survey”) prepared by R. Scott Barrett under the supervision of the Matthews
Company Inc., dated July 19, 2012, last revised August 2, 2012, and certified to Buyer, Seller, the Title Company. 

  
 -8-

 5.3 Intentionally omitted. 

5.4 Permitted Title Exceptions. As a condition to Buyer’s obligation to purchase the Property from Seller, and to perform the
other obligations required to be performed by Buyer at the Closing, provided the Buyer has satisfied all purchaser requirements under the Title Commitment, the Title Company shall be committed to issue an owner’s policy pursuant to the pro
forma owner’s policy (with endorsements) attached hereto as Exhibit N (referred to herein as the “Approved Title Policy” or the “Title Policy”). Those exceptions described in
Schedule B of the Approved Policy shall be deemed “Permitted Exceptions” (and each item a “Permitted Exception”). For purposes of the special limited warranty deeds to be delivered at Closing,
“Permitted Exceptions” also include all items set forth on Exhibit B of the deed form attached hereto as Exhibit I. With respect to any Monetary Encumbrances Seller is required to satisfy under this Agreement, Seller may, as an
alternative to causing such Monetary Encumbrance(s) to be satisfied of record (and provided that the Title Company agrees to omit such Monetary Encumbrance(s) from the Title Policy): (i) bond or cause to be bonded such Monetary Encumbrance(s);
(ii) deliver or cause to be delivered to Buyer or the Title Company, on the date of the Closing, instruments in recordable form and sufficient to satisfy such Monetary Encumbrance(s) of record, together with the appropriate recording or filing
costs; (iii) deposit or cause to be deposited with the Title Company sufficient monies, acceptable to and reasonably requested by the Title Company, to assure the obtaining and recording of a satisfaction of the Monetary Encumbrance(s);
provided that in any of the foregoing circumstances the Title Company omits such Monetary Encumbrance(s) from the Title Policy. 

5.5 Restrictive Covenants. Prior to Closing, Seller shall record covenants, conditions and restrictions
(“CCR’s”) against the entire Coliseum Centre Office Park, including the Property, in the form attached hereto as Exhibit O.  
 6. Buyer’s Inspection of the Property 
 6.1 Inspection and
Examination. During the term of this Agreement, Buyer and Buyer’s Agents will be given the right to (i) perform nondestructive and noninvasive physical tests (except that Buyer may perform minor intrusive testing to determine the
presence of asbestos-containing materials, termites and other wood destroying insects, provided that all damage resulting therefrom is promptly repaired by Buyer at its sole expense (the “Repair Obligation”)),
(ii) conduct any engineering, environmental and other inspections at the Property (which may not be destructive or invasive), and (iii) examine and evaluate the Review Materials and all other relevant agreements and documents within the
possession of Seller or subject to its control relating to the operation of the Property, as Buyer may reasonably request; provided in no event may any inspections or testing be invasive or destructive unless such inspections or testing have been
approved in advance in writing by Seller, which approval may be granted or withheld in Seller’s sole and absolute discretion. No soil and/or ground water sampling shall be performed unless and until the location, scope and methodology of such
sampling and the environmental consultant selected by Buyer to perform such sampling have all been approved by Seller, which approval may be granted or withheld in Seller’s sole and absolute discretion. Prior

  
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to conducting any such sampling, Buyer shall have a utility mark-out performed for the Property. Copies of all environmental and engineering reports prepared by or on behalf of Buyer with respect
to the Property shall be provided promptly to Seller upon request (the “Report Obligation”). With respect to Buyer’s right to inspect the Property, Buyer agrees that (i) Seller shall receive at least forty-eight
(48) hours’ prior written notice of each inspection, (ii) each inspection shall be performed during normal business hours or at such other times as Seller and Buyer shall mutually agree and shall be subject to any special limitations
on access to certain areas of the Property arising under the Existing Leases and (iii) Buyer and Buyer’s Agents shall use all reasonable efforts to minimize any disruption to the tenants, guests, employees, occupants of the Property and
the operation thereof. Buyer or Buyer’s Agents shall not perform any such inspection or examination unless accompanied by a representative of Seller. The Repair Obligation and the Report Obligation shall survive the termination of this
Agreement. Prior to any entry by Buyer or Buyer’s Agents on the Property to conduct the inspections and tests described above, Buyer shall obtain and maintain, at Buyer’s sole cost and expense, and shall deliver to Seller evidence thereof,
commercial general liability insurance, from an insurer reasonably acceptable to Seller, in the amount of TWO MILLION and 00/100 Dollars ($2,000,000.00) combined single limit for personal injury and property damage per occurrence, such policy to
name Seller as an additional insured party, which insurance shall provide coverage against any claim for personal liability or property damage resulting from such inspections and tests by Buyer and Buyer’s Agents. 

6.2 Termination. 
 6.2.1 During Due Diligence Period. Buyer has had from the execution of the Original Agreement until the execution of this Agreement (the “Due Diligence Period”) to
determine, in its sole discretion, whether the Property is physically, economically and operationally acceptable to Buyer. Buyer has elected to proceed with the acquisition of the Property subject to all the terms contained within this Agreement.

 6.2.2 Following Due Diligence Period. Following the expiration of the Due Diligence Period but prior to Closing,
Buyer shall be entitled to terminate this Agreement by providing written notice thereof to Seller if (i) a material, adverse survey or title issue, (other than notices of commencement of work to be performed by contractors or subcontractors
engaged by tenants or subtenants except to the extent that such liens have been filed or recorded with respect to work that has not been paid for by such tenants or subtenants due to Seller’s failure to pay funds due to such tenants or
subtenants, or to their respective contractors or subcontractors, as applicable, as a tenant improvement allowance required to be provided by Seller in accordance with the Existing Leases or Additional Leases), first appears on any update of the New
Survey prior to Closing or is identified by the Title Company and does not appear on the Approved Title Policy and Seller is unable to, or does not agree to, either cause such title issue to be released of record on or before the Closing Date or
cause the Title Company to insure over such matter (provided that any recorded memorandum of lease or amendment of memorandum of lease shall be deemed acceptable (and not a material, adverse title issue) so long as such memorandum is entered into in
accordance with the provisions of the applicable Lease and so long as Buyer has been afforded the opportunity to review the memorandum of lease or amendment of memorandum of lease prior to the recordation thereof), or (ii) hazardous materials
in violation of Environmental Laws are released on the Real Property following the expiration of the Due 

  
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Diligence Period and Seller does not remediate the same to Buyer’s reasonable satisfaction prior to Closing. In the event Buyer terminates this Agreement in accordance with this
Section 6.2.2, the Deposit shall be delivered to Buyer, and neither party shall have any further rights or obligations hereunder, except with respect to the covenants and indemnities set forth Sections 4, 6.1, 6.3 and
13 (collectively, the “Surviving Obligations”). 
 6.3 Inspection Indemnity.
Notwithstanding anything to the contrary contained in this Agreement, any investigation or examination of the Property performed by Buyer or Buyer’s Agents prior to Closing shall be performed at the sole risk and expense of Buyer, and Buyer
shall be solely responsible for the acts or omissions of any of Buyer’s Agents brought on, or to, the Property by Buyer. In addition, Buyer shall defend, indemnify and hold Seller harmless from and against all loss, expense (including, but not
limited to, reasonable attorneys’ fees and court costs arising from the enforcement of this indemnity if Seller is the prevailing party in any such proceeding(s)), damage and liability resulting from claims for personal injury, wrongful death
or property damage against Seller or the Property arising from or as a result of any act or omission of Buyer or Buyer’s Agents in connection with any inspection or examination of the Property by Buyer or Buyer’s Agents. The Repair
Obligation and the terms and provisions of this Section 6.3 shall survive the Closing or the earlier termination of this Agreement. 
 6.4 Condition. As a material inducement to Seller to execute this Agreement, Buyer acknowledges, represents and warrants that, if this Agreement does not terminate pursuant to
Section 6.2 herein, then except as otherwise expressly provided in this Agreement, (i) Buyer will be deemed to have fully examined and inspected the Property, including the construction, operation and leasing of the Property,
together with the Review Materials and such other documents and materials with respect to the Property which Buyer deems necessary or appropriate in connection with its investigation and examination of the Property, (ii) Buyer will have
accepted and will be fully satisfied in all respects with the foregoing and with the physical condition, value, presence/absence of hazardous or toxic materials, financing status, use, leasing, operation, tax status, income and expenses of the
Property, (iii) the Property will be purchased by Buyer “AS IS” and “WHERE IS” and with all faults and, upon Closing, Seller shall have no further responsibility for the physical and environmental condition of the Property
including, without limitation, the condition of the Parking Deck and (iv) Buyer will have decided to purchase the Property solely on the basis of its own independent investigation. Except as expressly set forth in this Agreement or in any
document executed by Seller and delivered to Buyer pursuant to Section 9.2 or Section 20 (“Seller’s Documents”), Seller has not made, does not make, and has not authorized anyone else to make any
representation as to the present or future physical condition, value, presence/absence of hazardous or toxic materials, financing status, leasing, operation, use, tax status, income and expenses or any other matter or thing pertaining to the
Property, and Buyer acknowledges that no such representation or warranty has been made and that in entering into this Agreement it does not rely on any representation or warranty other than those expressly set forth in this Agreement or in
Seller’s Documents. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR IN SELLER’S DOCUMENTS, SELLER MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED OR ARISING BY OPERATION OF LAW, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF
CONDITION, HABITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OF THE 

  
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PROPERTY. Seller shall not be liable for or bound by any verbal or written statements, representations, real estate broker’s “setups” or information pertaining to the Property
furnished by any real estate broker, agent, employee, servant or any other person unless the same are specifically set forth in this Agreement or in Seller’s Documents. The provisions of this Section 6.4 shall survive the Closing.

 6.5 Release. Except for any Claims (as defined below) only arising out of a breach or default by Seller under this
Agreement (including a breach of any of Seller’s representations and warranties herein) or the closing documents (collectively, “Excepted Claims”), (for which Claims may be brought against Seller only and not the
other Released Parties), Buyer and anyone claiming by, through or under Buyer hereby waive their right to recover from and fully and irrevocably release Seller and Seller’s employees, officers, directors, trustees, shareholders, members (in
their capacities as such), attorneys, successors and assigns (“Released Parties”) from any and all claims, responsibility and/or liability that it may now have or hereafter acquire against any of the Released Parties for any
and all costs, losses, claims, liabilities, damages, expenses, demands, debts, controversies, claims, actions or causes of actions (collectively, “Claims”) arising from or related to the condition (including any construction
defects, errors, omissions or other conditions, latent or otherwise, and the presence in the soil, air, structures and surface and subsurface waters of materials or substances that have been or may in the future be deemed to be hazardous materials
or otherwise toxic, hazardous, undesirable or subject to regulation and that may need to be specifically treated, handled and/or removed from the Property under current or future federal, state and local laws, regulations or guidelines or common
law), valuation, salability or utility of the Property, condition of title to the Property, compliance with any applicable federal, state or local law, rule or regulations or common law with respect to the Property, or the Property’s
suitability for any purposes whatsoever, and any information furnished by the Released Parties in connection with this Agreement. 
 7. Representations and Warranties 
 7.1 Representations and Warranties of
Seller. Seller makes the following representations and warranties to Buyer: 
 7.1.1 Each Seller entity is a limited
liability company duly organized, validly existing and in good standing under the laws of the State of Delaware. 
 7.1.2 The
execution, delivery and performance of this Agreement and all other documents, instruments and agreements now or hereafter to be executed and delivered by Seller pursuant to this Agreement are within the organizational power of Seller and have been
duly authorized by all necessary or proper company action. 
 7.1.3 Seller is not a “foreign person” as defined in
Section 1445(f)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). 
 7.1.4 Seller
has not received written notice of any pending suit or action against Seller or the Property which, if adversely decided, would prevent the consummation of the transaction contemplated by this Agreement or impose any obligation or liability upon
Buyer or the Property after the Closing. To Seller’s knowledge, there are no actual or threatened suits, 

  
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actions or proceedings with respect to all or part of the Property (a) for condemnation or (b) alleging any material violation of any applicable law, regulation, ordinance or code,
including any Environmental Laws (collectively, “Laws and Regulations”). 
 7.1.5 Seller has not
received any written notice (which remains uncured) from any Authorities stating that the Property or the use thereof violates any Laws and Regulations in any material respect. 

7.1.6 With respect to the Existing Leases and/or the Additional Leases, as applicable: 

(a) There are no tenant leases or tenancy agreements affecting the Property, or any portion thereof, other than the Existing Leases and
any subleases thereunder that may have been entered into by tenants (or subtenants of tenants) of the Property with third parties; and as of the day of Closing, there will be no tenant leases or tenancy agreements affecting the Property, or any
portion thereof, other than the Existing Leases and Additional Leases entered into in accordance with this Agreement, and any subleases thereunder that may have been entered into by tenants (or subtenants of tenants) of the Property with third
parties. 
 (b) The Schedule of Leases (i) to Seller’s actual knowledge, identifies all Leases in effect at the
Property, and (ii) to Seller’s actual knowledge, contains a complete and accurate list of all lease documents including the Existing Leases and any related assignments, amendments, side letters, guaranties, and any other agreements between
Seller, either directly or as successor to any prior landlord, and the tenants under the Leases (collectively, the “Lease Documents”). 
 (c) Copies of all Lease Documents in Seller’s possession or subject to Seller’s control have been delivered by Seller to Buyer, and to Seller’s actual knowledge the same are true, correct
and complete copies. 
 (d) Seller has not provided or received any written notice of default under any Existing Leases or
Additional Leases which defaults have not been cured. Seller has not received any written notice of any exercise of termination options exercised by any of the tenants. 
 (e) Schedule 7.1.6 (together with Exhibit P), hereto sets forth, to Seller’s actual knowledge, (i) all leasehold improvements or other improvements or work remaining to be
performed by the landlord under any Existing Lease, and (ii) all tenant improvement allowances and other allowances or sums to be paid or credited to the tenants under the Lease Documents. As of the Effective Date, to Seller’s actual
knowledge, Compass (as defined in Section 20.2 below) has not requested any portion of the Additional Allowances (as defined in the Compass Lease) under the Compass Lease ( as defined in Section 20.2 below). 

(f) To Seller’s actual knowledge, except as set forth on Schedule 7.1.6 hereto, there are no rental, lease, or other
commissions payable to any person or entity with respect to the current term of any of the Existing Leases or in connection with any Additional Leases. Seller will deliver Buyer pursuant to Section 4 complete and accurate copies of all
lease commission agreements of which Seller has actual knowledge which are in Seller’s possession or control. 

  
 -13-

 7.1.7 Attached hereto as Schedule 7.1.7 is a list of all agreements between Seller
and Coliseum Transfer, Inc., the predecessor in title to Coliseum Building as the landlord under the Existing Leases, relating to the Leases and the performance of the obligations of the landlord thereunder, other than the purchase and sale
agreement (as amended) and the assignment of leases executed in connection with such purchase and sale agreement. Seller has provided true, correct and complete copies of all such agreements to Buyer. 

7.1.8 With respect to the Service Contracts: 
 (a) There are no equipment leases or service, maintenance or other similar contracts or agreements affecting the Property to which any Seller is a party other than the Service Contracts, and to
Seller’s actual knowledge there are no other such agreements affecting the Property other than any equipment leases or other contracts or agreements that may have been entered into by tenants (or subtenants of tenants) of the Property with
third parties; 
 (b) All copies of the Service Contracts in Seller’s possession or subject to Seller’s control have
been delivered to Buyer, and to Seller’s actual knowledge the same are true, correct and complete copies; and 
 (c)
Seller has not given, nor has Seller received, any written notice of a material default under any of the Service Contracts which remains uncured, except as set forth in Exhibit D. 

7.1.9 Seller and, to Seller’s knowledge, each person or entity owning an interest in Seller is (1) not currently identified on
the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department of the Treasury and/or on any other similar list, (ii) not a person or entity with whom a citizen of the United States is
prohibited to engage in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive Order of the President of the United States, and (iii) not an “Embargoed Person.” To
Seller’s knowledge, none of the funds or other assets of Seller constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed Person, and to Seller’s actual knowledge, no Embargoed Person has any interest of
any nature whatsoever in Seller (whether directly or indirectly). The term “Embargoed Person” means any person, entity or government subject to trade restrictions under U.S. Law, including but not limited to, the
International Emergency Economic Powers Act, 50 U.S.C. § 1701 et seq., The Trading With The Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder. 

7.1.10 Seller does not have any employees engaged in the operation and maintenance of the Property to whom Buyer shall have at or after
Closing any obligation whatsoever. 
 7.1.11 Seller has not received a complaint, order, citation, directive, or notice, in
writing, from any Authority with regard to any violations or alleged violations of Environmental Laws with respect to the Property. 

  
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 7.1.12 To Seller’s actual knowledge, the documents provided by Seller to Buyer
pursuant to Section 4 are complete and accurate copies of such documents which are in the possession or control of Seller. 
 7.1.13 The Fitness Center Work has been completed pursuant to the Compass Leases. 

7.2 Limitation of Seller’s Representations. The representations and warranties of Seller contained in Section 7.1
and in any other sections of this Agreement are made as of the Effective Date. Prior to Closing, Seller shall notify Buyer after the Effective Date of any events or circumstances of which it becomes aware that would modify any such representations
in any material respect as of the date of Closing. Such representations and warranties shall survive the Closing to the date (the “Representation Termination Date”) occurring six (6) months after the date of the Closing,
at which time such representations and warranties shall terminate and be of no further force or effect, except for any claims made prior to the Representation Termination Date as hereinafter set forth. Subject to the foregoing limitation on
survival, and subject to the limitations on liability pursuant to Section 18 hereof, following the Closing Seller shall indemnify and hold Buyer harmless from and against any and all costs, fees, expenses, damages, and losses suffered or
incurred by Buyer arising out of, or in any way relating to, the breach or inaccuracy of any representation or warranty made by Seller in this Agreement. In order to make a claim for damages based on the inaccuracy of any of the representations or
warranties of Seller, promptly after discovery of any such inaccuracy (but in any event prior to the Representation Termination Date), Buyer shall notify Seller in writing (a “Misrepresentation Notice”) that Buyer has
discovered the existence of an inaccuracy in a warranty or representation (such Misrepresentation Notice to describe the inaccuracy in reasonable detail). Thereupon, the claim set forth in such Misrepresentation Notice shall continue to survive
until final resolution or settlement thereof. No post-Closing claim for breach of any representation or warranty of Seller shall be actionable or payable if the breach in question results from or is based on a condition, state of facts or other
matter that was actually known to Buyer prior to the Closing (from whatever source, including without limitation as a result of Buyer’s due diligence tests, investigations and inspections of the Property, the Tenant Estoppel Certificates, as
defined in Section 8.1.1 below, or disclosure by Seller or Seller’s agents and employees). Where representations and warranties are made in this Agreement to Seller’s knowledge, such phrase shall mean and be limited to the
actual knowledge of Fred Arena (“Seller’s Representative”), whom Seller represents has responsibility for oversight of the Property on behalf of Seller (provided that Fred Arena shall have no personal liability in
connection with this Agreement). For purposes of the representations and warranties made by Seller in this Agreement and/or Seller’s Documents, (1) Seller’s knowledge shall not include knowledge of any independent contractor or agent
hired by Seller but not actually known by Seller, and (2) notices received by any independent contractor or agent hired by Seller and not delivered by such contractor or agent to Seller shall not be deemed to have been received by Seller.
Furthermore, Seller’s knowledge shall not include any implied, imputed or constructive knowledge of Seller’s Representative and shall not constitute any representation that Seller’s Representative has made or is obligated to make any
independent investigation or has any implied duty to investigate. 

  
 -15-

 7.3 Representations and Warranties of Buyer. Buyer makes the following
representations and warranties to Seller, which representations and warranties shall be true and correct in all material respects on the date of the Closing: 
 7.3.1 Buyer is a duly organized, validly existing and in good standing under the laws of the State of its formation. 
 7.3.2 The execution, delivery and performance of this Agreement and all other documents, instruments and agreements now or hereafter to be executed and delivered by Buyer pursuant to this Agreement are
within the power of Buyer and have been duly authorized by all necessary or proper action. 
 7.3.3 Buyer and, to Buyer’s
actual knowledge, each person or entity owning an interest in Buyer is (1) not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department of the Treasury
and/or on any other similar list, (ii) not a person or entity with whom a citizen of the United States is prohibited to engage in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or
Executive Order of the President of the United States, and (iii) not an Embargoed Person. To Buyer’s actual knowledge, none of the funds or other assets of Buyer constitute property of, or are beneficially owned, directly or indirectly, by
any Embargoed Person, and to Buyer’s actual knowledge, no Embargoed Person has any interest of any nature whatsoever in Buyer (whether directly or indirectly). 
 The representations and warranties of Buyer contained in this Section 7.3 shall survive the Closing to the Representation Termination Date, at which time such representations and warranties
shall terminate and be of no further force or effect, except for any claims made prior to the Representation Termination Date, in the manner set forth in Section 7.2. 

8. Buyer’s Conditions to Closing 
 8.1 Buyer’s Conditions. Buyer’s obligation to close the transaction contemplated by this Agreement is subject to the satisfaction, at or prior to the Closing, of the following conditions
precedent, which Buyer may waive in writing. 
 8.1.1 Tenant Estoppel Certificates. That Seller shall have obtained
acceptable executed tenant estoppel certificates (the “Tenant Estoppel Certificates”) from the tenants of the Property with respect to all Leases. In order to be acceptable, such Tenant Estoppel Certificates shall be
addressed to Buyer, Buyer’s lender (if the identity of such lender is timely provided to Seller), and their respective successor and assigns, shall be dated not more than thirty (30) days prior to the Scheduled Closing Date (as defined in
Section 9.1 herein), and shall be in substantially the same form as is attached hereto as Exhibits H-1, H-2, H-3, and H-4 (with tenants filling in the applicable blanks and attaching the applicable exhibits) or such other
form as may be proscribed for particular tenant(s) in their respective Leases. A Tenant Estoppel Certificate shall be deemed acceptable even if a tenant revises the form Tenant Estoppel Certificate so long as such tenant revisions do not allege any
material default on the part of the landlord, do not disclose any material disputes under the applicable Lease, and do not contain information that is materially different than the information contained in the copies of Leases

  
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delivered to Buyer or contained in Seller’s representations expressly made in this Agreement. Seller shall diligently and in good faith endeavor to obtain and deliver such Tenant Estoppel
Certificates to Buyer, provided that Seller shall have no obligation to make any payment or to institute any action or proceeding against any tenant in order to obtain the Tenant Estoppel Certificates, and Seller shall have no liability to Buyer if
any Tenant Estoppel Certificates are not obtained, notwithstanding Seller’s good faith efforts to obtain same. For purposes of this Section 8.1.1, Seller shall be deemed to have used “good faith” efforts to obtain and
deliver to Purchaser the Tenant Estoppel Certificates if Seller delivers the applicable form of such Tenant Estoppel Certificates to the tenants and thereafter make reasonable, periodic inquiries (which inquiries may be verbal, written, or by email)
regarding the status of the tenant’s review and delivery of such Tenant Estoppel Certificates. 
 8.1.2 No Material
Lease Defaults. As of the day of Closing, there shall not be (i) any material non-monetary defaults, or (ii) any monetary defaults involving amounts in excess of $25,000.00 in the aggregate, under any Existing Leases or Additional
Leases, which defaults have not been cured and which were not disclosed to Buyer at least one (1) Business Day prior to the expiration of the Due Diligence Period. 
 8.1.3 Compass Contraction Option. The contraction option held by Compass (as defined below in Section 20), pursuant to Section 5 of Exhibit H of the Compass Lease of One Coliseum
Centre, shall have been eliminated pursuant to a lease amendment either (a) reasonably approved by Buyer, or (b) delivered to Buyer prior to the last Business Day preceding expiration of the Due Diligence Period. To the extent that Seller
extends any concessions or allowances to Compass in connection with such amendment, Seller shall either pay such amounts to Compass prior to Closing or credit Buyer at Closing with any unpaid portion thereof. 

8.1.4 Suites 100 and 610 Allowances. Seller shall either (1) have paid for all Leasing Costs (as defined in
Section 20.1) for Suites 100 and 610 of One Coliseum Centre, (that may be used only for such spaces), under the Compass Lease for such spaces, or (2) at Closing provide Buyer with a credit for the unpaid Leasing Costs for such
suites. 
 8.1.5 Parking Deck Completion. Construction of the Parking Deck shall be completed, as evidenced by delivery
of the Parking Deck Completion Materials pursuant to Section 20.2. 
 8.1.6 Representations and Warranties.
The representations and warranties of Seller made in Section 7.1 shall have been true and correct when made, and there shall not have occurred any material adverse change in any such representations and warranties prior to Closing.

 8.1.7 Compliance With this Agreement. Seller shall have preformed and complied in all material respects with all
agreements and obligations that are required to be performed or complied with by Seller pursuant to this Agreement on or before the date of Closing. 

  
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 8.1.8 Title Insurance. The Title Company shall be prepared to issue the Approved
Title Policy to Buyer, subject to the delivery of the documents, materials and funds described in Section 9 below and the payment of applicable closing costs. 
 8.1.9 CCR’s. At or prior to Closing, Seller shall have recorded CCR’s against the Coliseum Centre Office Park in compliance with Section 5.5. 

8.1.10 Parking Deck Punch-List. All of the following documents shall have been delivered to Buyer (collectively, the
“Parking Deck Punch-List Completion Documents”): (i) a certificate from the general contractor or engineer that the Parking Deck punch-list items identified on Exhibit P attached hereto (the “Parking
Deck Punch-List”) have been completed, (ii) evidence of payment of all costs in connection with the Punch List Repairs, including copies of final lien waivers from the contractor and all subcontractors involved in the performance
of such work; and (iii) all warranties and guaranties relating to the Punch-List Repairs. 
 8.1.11 Suite 170 Leasing
Costs. Seller shall either (1) have paid for all Leasing Costs (as defined in Section 20.1) for Suite 170 (“Suite 170”) of One Coliseum Centre under the Compass Lease for such space, or (2) at
Closing provide Buyer with a credit for the unpaid Leasing Costs for Suite 170. 
 8.2 Failure of Buyer’s
Conditions. If the conditions precedent set forth in Section 8.1.1 is not satisfied or waived by Buyer on or prior to the date set for the Closing, Buyer or Seller may postpone the date of the Closing for up to five (5) days by
written notice of postponement given to the other party at least two (2) Business Days prior to the original date of the Closing in order to obtain the required Tenant Estoppel Certificates. If the conditions precedent set forth in
Section 8.1.1 through 8.1.10 are not satisfied or waived by Buyer on or prior to the date set for the Closing, as it may be extended per the preceding sentence, then Buyer may terminate this Agreement, in which event the Deposit,
including all interest earned thereon, shall be promptly returned to Buyer and the parties shall be released from all further obligations and liabilities hereunder, except with respect to the Surviving Obligations. 

9. Closing. 
 9.1 Time and Place. The closing contemplated by this Agreement (the “Closing”) shall take place, through an escrow with Escrow Agent, on or before the date (the
“Closing Date”) that is December 19, 2012. If the Closing Date is not a Business Day, the Closing shall be held on the next ensuing Business Day. Time is of the essence with respect to the Closing. 

9.2 Seller’s Closing Documentation and Requirements. At Closing, Seller shall deliver the following to Buyer: 

9.2.1 a special warranty deed, duly executed and acknowledged, conveying to Buyer fee simple title to the Coliseum Centre One Land and
the Coliseum Centre Two Land, together with the improvements located thereon and the easements and other rights and appurtenances thereto, in the form attached hereto as Exhibit I (provided that each applicable Seller shall provide a
separate deed at Closing, and each deed shall be modified to the extent necessary to reflect the different ownership of different portions of the Real Property); 

  
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 9.2.2 an assignment and assumption agreement for each of the One CC Leasehold Estate and
the Two CC Leasehold Estate, including all interests of “lessor” and “lessee” under the One CC Ground Lease and the Two CC Ground Lease, in the form attached hereto as Exhibit J (the “Ground Lease
Assignment”); 
 9.2.3 a Blanket Transfer, Assignment, and Bill of Sale, duly executed and acknowledged,
transferring to Buyer all of the Personal Property, Approvals, and Intangibles, in the form attached hereto as Exhibit F; 
 9.2.4 a lease assignment, duly executed and acknowledged, transferring to Buyer all of Seller’s interest in the Existing Leases, any Additional Leases, and all related guaranties, in the form
attached hereto as Exhibit G (the “Lease Assignment”); 
 9.2.5 an affidavit of Seller
stating that its United States taxpayer identification number and that it is not a “foreign person” as defined in Section 1445(f)(3) of the Code, and otherwise in the form prescribed by the Internal Revenue Service; 

9.2.6 an updated Schedule of Leases for the Property, certified by Seller as being true and correct in all material respects to its
actual knowledge, and a copy of Seller’s then current Rent Roll; 
 9.2.7 a certificate, dated as of the Closing, which is
reasonably requested by Buyer and/or Title Company to evidence Seller’s authority to enter into the transaction and to execute and deliver the documents contemplated herein; 

9.2.8 written notices, executed by Seller addressed to each tenant under the Existing and Additional Leases, indicating that the
Property has been sold to Buyer and that all tenant security deposits have been transferred to Buyer; 
 9.2.9 all Tenant
Estoppel Certificates obtained by Seller pursuant to Section 8.1.1; 
 9.2.10 an assignment and assumption of the
Service Contracts (the “Assignment of Service Contracts”), duly executed and acknowledged, assigning and transferring to Buyer all right, title and interest of Seller in and to, and all post-Closing obligations of the owner
of the Property under, the Service Contracts to be assumed by Buyer pursuant to the terms of Section 3.4, in the form set forth on Exhibit K attached hereto, as the same may be reasonably modified to address any Service
Contracts that cover both the Property and other property within Coliseum Centre Office Park; 
 9.2.11 all good standing
certificates and other governmental certificates (if any) required of Seller under the Title Commitment; 
 9.2.12 a written
notice to Escrow Agent pursuant to Section 3.1 of the Escrow Agreement; 

  
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 9.2.13 affidavits as may be reasonably required by the Title Company in connection with
issuance of the Title Policy (i) attesting to the absence of any unrecorded mechanics’ or materialmen’s liens arising from work performed at the direction of Seller at the Property and (ii) certifying that to its knowledge there
are no tenants in possession of the Property under unrecorded leases for less than three (3) years (other than the tenants under leases identified in the Lease Assignment and subtenants of such tenants), and such other documents as may
reasonably be required by the Title Company that are customary for similar transactions in the Charlotte, North Carolina market in order for the Title Company to issue the Title Policy subject only to the Permitted Exceptions; provided Seller shall
not be required to provide any indemnities unless it elects to do so in its sole and absolute discretion; 
 9.2.14 a closing
statement which memorializes the financial transactions contemplated in this Agreement; 
 9.2.15 the Parking Deck Completion
Materials; 
 9.2.16 the Escrow Assignment Agreement (as hereinafter defined); 

9.2.17 the Parking Deck Punch-List Completion Documents; and 
 9.2.18 the Post-Closing Holdback/Escrow Agreement, if applicable. 
 9.3
Buyer’s Closing Documentation and Requirements. At Closing, Buyer shall pay the Closing Payment in accordance with the provisions of this Agreement and shall deliver the following to Seller: 

9.3.1 the Ground Lease Assignment(s), duly executed and acknowledged; 

9.3.2 the Lease Assignment, duly executed and acknowledged; 
 9.3.3 the Assignment of Service Contracts, duly executed and acknowledged; 

9.3.4 a certificate, dated as of the Closing, which is reasonably required by Title Company and/or Seller to evidence Buyer’s
authority to enter into the transactions and to execute and deliver the documents contemplated herein; 
 9.3.5 all good
standing certificates and other governmental certificates (if any) required of Buyer under the Title Commitment; 
 9.3.6 a
written notice to Escrow Agent pursuant to Section 3.1 of the Escrow Agreement; 
 9.3.7 a closing statement which
memorializes the financial transactions contemplated in this Agreement; 
 9.3.8 the Escrow Assignment Agreement; and

  
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 9.3.9 the Post-Closing Holdback/Escrow Agreement, if applicable. 

9.4 Form. All documents and instruments required hereby shall be in form and substance reasonably acceptable to Seller and Buyer.
The form documents attached as exhibits to this Agreement are deemed acceptable to Buyer and Seller. If Buyer requests that each Seller provide separate Seller’s Documents regarding each Seller’s respective interest in the Property, with
reasonable advance notice, Seller shall reasonably satisfy such request. 
 9.5 Additional Deliveries by Seller. In
addition to the documents described in Section 9.2 above, Seller shall deliver to Buyer immediately upon Closing, but outside of the Closing escrow, the following additional materials. 

9.5.1 Any keys to any doors or locks on the Property which are in the possession of Seller or Seller’s agents not retained by
Buyer; and 
 9.5.2 Originals of all Leases and related guaranties which are in the possession or control of Seller, together
with originals or true copies of all tenant files and any certificates of occupancy, plans and specifications, warranties, and Approvals which are in the possession or control of Seller. 

10. Adjustments and Prorations. 
 10.1 Adjustments. The following adjustments to the Purchase Price shall be made between the parties at the Closing: 
 10.1.1 Buyer shall be credited and Seller charged with security deposits or advance rentals in the nature of security deposits made by tenants under the Existing Leases and the Additional Leases;

 10.1.2 Seller shall be credited and Buyer charged with transferable deposits under the Service Contracts; provided that
parties shall reasonably adjust such credit and charge for any Service Contracts that will cover both the Property and other property in the Coliseum Centre Office Park following Closing; 

10.2 Prorations. The following shall be prorated between the parties as of 11:59 p.m. of the day preceding the date of the
Closing: real estate taxes and personal property taxes for the current fiscal year, prorated on a calendar year basis; basic/fixed rent payments for the month of Closing under the Leases; charges and fees paid or payable under Service Contracts
assumed by Buyer at the Closing; and such other items of income and expense as are customarily prorated in transactions of this nature. 
 10.3 Taxes. If, on the date of the Closing, the real estate or personal property tax rate and/or the assessed valuation is not fixed for the then current fiscal year, real estate and personal
property taxes shall be apportioned upon the basis of the tax rate and/or the assessed valuation for the immediately preceding fiscal year, but such taxes shall be readjusted at the request of Seller or Buyer as soon as the applicable rate and
assessed valuation are fixed. The provisions of this Section shall survive the Closing for twelve (12) months. In the event that any pending tax appeal with respect to taxes paid for any tax year ending prior to the Closing results

  
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in any rebate of taxes which is received after the Closing, the amount of such rebate shall be the sole property of and remitted to Seller, except for any portion thereof required to be paid (and
which shall be paid) to any tenant pursuant to the terms of any Lease or to pay any costs associated with such tax appeal. Seller shall be responsible for all costs of any such appeal actually incurred by Seller. 

10.4 Utilities. Seller shall endeavor to have all meters read and final bills rendered for all utilities servicing the Property,
including, without limitation, water, sewer, gas and electricity, for the period to and including the day preceding Closing, and Seller shall pay such bills, except in the case of utility charges paid or payable by tenants under Existing Leases or
Additional Leases directly to the utility companies. Buyer shall be responsible for payment of such bills attributable to the period from and after Closing. The provisions of this Section shall survive Closing. 

10.5 Rent Arrears. Seller shall deliver or provide a credit in an amount equal to all prepaid fixed rents for periods after the
Closing Date and all refundable cash security deposits under the Leases to Buyer on the Closing Date. Seller shall also transfer to Buyer any security deposits that are held in the form of letters of credit (the “SD Letters of
Credit”) if the same are transferable, at Seller’s cost (including Seller’s payment of any third party transfer fees and expenses). If any SD Letters of Credit is not transferable, Seller shall request and use commercially
reasonable efforts to cause the applicable tenant obligated under such SD Letter of Credit to cause new letters of credit to be issued in favor of Buyer in replacement thereof and in the event such a new letter of credit is not issued in favor of
Buyer by Closing, Buyer shall pursue such replacement after Closing and Seller shall take all reasonable action, as directed by Buyer and at Seller’s expense, in connection with the presentment of such SD Letter of Credit for payment if and as
permitted under the terms of the applicable Lease. Fixed rents for the month of Closing that are delinquent (or payable but unpaid) as of the Closing Date shall be prorated on the Closing Date as if they had been received by Seller prior to Closing,
except in the case of the fixed rents payable by the U.S. Postal Service, which shall not be prorated until actually received. Any such rents collected by Buyer or Seller after the Closing shall be applied (i) first, in payment of current
rentals due to Buyer at the time of receipt; provided, however, that rents collected by Buyer or Seller after the Closing from the U.S. Postal Service which are applicable to the month in which the Closing occurs shall be applied first to the
payment of such rents; (ii) second, to delinquent rentals, if any, which become due and payable after the Closing, provided, however, that any year-end or similar reconciliation payment shall be allocated as provided in Section 10.6
below, (iii) third, in payment of rents owed by the applicable tenant for the month in which the Closing occurs, and (iv) then to delinquent rentals, if any, which became due prior to the month of Closing. Buyer shall bill tenants who owe
fixed rents for periods prior to the Closing on a monthly basis for a period of ninety (90) days following the Closing and use commercially reasonable efforts to attempt to collect such past due fixed rents, but shall not be obligated to engage
a collection agency or take legal action to collect such amount. Seller shall have the right, upon prior written notice to Buyer, to pursue tenants to collect such delinquencies but shall not be entitled to institute litigation to collect such
amounts without the prior written consent of Buyer in Buyer’s sole discretion; provided, Buyer agrees to reasonably cooperate with Seller in connection with such collection (at no cost or expense to Buyer). Notwithstanding the foregoing, in no
event shall Seller have the right to terminate or attempt to terminate any Lease or evict or attempt to evict any tenant following the Closing. 

  
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 10.6 Additional Rent. 

10.6.1 Proration and Collection. Additional Rent (as defined below) shall be determined in accordance with the Leases, including
without limitation any Lease provisions that provide for the adjustment of Additional Rent based on occupancy changes (i.e., “gross-up” provisions). In addition, to the extent that a Lease provides for “base year” or
“expense stop” amounts for operating expenses (including insurance, common area maintenance and/or taxes), such amounts shall be prorated in determining the proration of Additional Rent with respect to such Lease. Seller’s
“share” of Additional Rent under any Lease for the calendar year in which Closing occurs (the “Closing Year”) shall be determined in accordance with Section 10.6.2 below. Until the adjustment described
in Section 10.6.2 is made, all amounts received by Seller as interim payments of Additional Rent before the Closing Date shall be retained by Seller, except that all interim payments received by either Seller or Buyer for the month in
which the Closing occurs shall be prorated between Seller and Buyer based upon the number of days in that month and the party receiving the interim payment shall remit to (if received after the Closing Date) or credit (if received before the Closing
Date) the other party its proportionate share. Except as set forth in the immediately preceding sentence, all amounts received by Buyer as interim payments of Additional Rent for the Closing Year on or after the Closing Date shall be retained by
Buyer until year-end adjustment and determination of Seller’s allocable share thereof, and there shall be no proration at Closing of any Additional Rent that is delinquent (or payable but unpaid) as of Closing. Buyer shall bill tenants that owe
Additional Rents for periods prior to the Closing on a monthly basis following the Closing and use commercially reasonable efforts to attempt to collect such past due Additional Rents, but shall not be obligated to engage a collection agency or take
legal action to collect such amount. Seller shall have the right, upon prior written notice to Buyer, to pursue tenants to collect such delinquencies but shall not be entitled to institute litigation to collect such amounts without the prior written
consent of Buyer; provided, Buyer agrees to reasonably cooperate with Seller in connection with such collection (at no cost or expense to Buyer). Notwithstanding the foregoing, in no event shall Seller have the right to terminate or attempt to
terminate any Lease or evict or attempt to evict any tenant. For the purposes of this provision, the term “Additional Rent” shall mean amounts payable under any Lease, whether or not payable based on the applicable tenants
allocable share thereof, for (i) operating expenses or so-called common area maintenance or “CAM” charges, (ii) taxes, inclusive of real property taxes, personal property taxes otherwise payable by Seller as “lessor”
under such Lease, and similar charges payable in lieu thereof, (iii) and insurance costs. 
 10.6.2 Reconciliation.
On or before February 28, 2013, Seller shall determine the Additional Rent actually paid or incurred by Seller (during Seller’s period of ownership) for calendar year 2012 (“Sellers’ Actual 2012 Reimbursable Tenant
Expenses”) and the tenant reimbursements for such Additional Rent actually paid to Seller by tenants for calendar year 2012 (“Sellers’ Actual 2012 Tenant Reimbursements”). Seller shall deliver to Buyer a
reconciliation statement (“Sellers’ 2012 Reconciliation Statement”) setting forth (i) Sellers’ Actual 2012 Reimbursable Tenant Expenses, (ii) Sellers’ Actual 2012 Tenant Reimbursements, and
(iii) a calculation of the difference between the two (i.e., establishing that Sellers’ Actual 2012 Reimbursable Tenant Expenses were either more or less than Sellers’ Actual 2012 Tenant Reimbursements). Buyer shall be
responsible for calculating the year-end reconciliations of tenant reimbursements of Additional Rent for calendar year 2012 and shall deliver such calculations to Seller and to Coliseum Transfer (as defined in Article 20 of this

  
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Agreement) no later than April 15, 2013. Any amount due Seller pursuant to the foregoing calculation (in the event Sellers’ Actual 2012 Tenant Reimbursements are less than Sellers’
Actual 2012 Reimbursable Tenant Expenses) or Buyer (in the event Sellers’ Actual 2012 Tenant Reimbursements are more than Sellers’ Actual 2012 Reimbursable Tenant Expenses), as the case may be, shall be paid by Buyer to Seller or by Seller
to Buyer, as the case may be, on or before May 1, 2013; provided, however, if the amount of any tenant reimbursements received by Buyer and Seller for calendar year 2012 are insufficient to pay each party the full amount of such party’s
Actual 2012 Reimbursable Tenant Expenses, then the amount of the total deficiency shall be prorated between the parties based on their respective periods of ownership of the Property during calendar year 2012, and to the extent that reconciliation
payments thereafter are collected from the tenants, Buyer shall remit to Seller and Coliseum their respective allocable shares thereof promptly upon receipt of such reconciliation payments by Buyer, net of reasonable costs of collection. Buyer shall
use good faith, commercially reasonable efforts to collect any additional tenant reimbursements due from tenants, but shall not be required to institute any proceedings or remedies against tenants to collect such reimbursements. To the extent Buyer
is obligated to pay amounts to Seller pursuant to this Section, Buyer shall pay such amounts to Seller and Coliseum Transfer, (pursuant to delivery instructions provided by Seller), in proportion to the period of each of its ownership of the
Property in 2012, as advised by Seller. If Buyer has transferred its interest in the Property to a successor-in-interest or assignee prior to reconciling any Additional Rent for 2012, then, on or before the transfer of its interest in the Property,
Buyer shall (i) in writing expressly obligate such successor-in-interest or assignee to be bound by the provisions of this Section, and (ii) deliver written notice of such transfer to Seller, and thereafter Seller shall make the deliveries
specified above to Buyer’s successor-in-interest or assignee. The Buyer and the Seller shall use good faith efforts to cooperate with one another, and with Coliseum Transfer, following Closing in connection with their respective obligations set
forth in this Section 10.6.2. 
 Notwithstanding anything to the contrary in the preceding paragraph, Seller shall
be responsible for any amounts owed to tenants in connection with the final reconciliation of tenant reimbursements of Additional Rent for calendar year 2011 and preceding calendar years. 

10.7 Errors; Survival. If any errors or omissions are made at Closing regarding adjustments or prorations, the parties shall make
the appropriate corrections promptly after the discovery thereof. The provisions of Section 10.5 and Section 10.6, as well as the provisions of this Section 10.7, shall survive Closing. 

11. Expenses. 
 11.1 Expenses. Buyer shall pay (a) the premium for the Title Policy and the cost of all endorsements and any extended coverage obtained by Buyer thereunder; (b) the cost of the New
Survey; (c) one-half ( 1/2) of all escrow fees charged by Escrow Agent; and (d) all recording fees on any document recorded pursuant to this Agreement (other than any release of any Monetary Encumbrance). Seller shall pay
(a) one-half ( 1/2) of the fees of Escrow Agent, (b) all transfer taxes with respect to the transaction contemplated hereby, and (c) the cost of releasing all Monetary Encumbrances that are to be released under
this Agreement and of recording such releases. 

  
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 11.2 Attorney’s Fees. Each party shall pay its own attorney’s fees and all
of its other expenses, except as otherwise expressly set forth herein. 
 12. Risk of Loss; Casualty and Eminent Domain.

 12.1 Casualty. If, prior to Closing, the Property is damaged by fire, vandalism, acts of God or other casualty or
cause, Seller shall promptly give Buyer notice of any such damage (the “Damage Notice”), together with Seller’s estimate of the cost and period of repair and restoration. In any such event: (a) in the case of damage
to the Property which is not material, Buyer shall take the Property at the Closing as it is, together with either applicable insurance proceeds or the right to receive the same (including without limitation any business income, rent loss, or like
insurance proceeds relating to Property income lost or abated for periods following Closing (“Lost Income”)); or (b) in the case of damage to the Property which is material, Buyer shall have the option (to be exercised,
if at all, within fifteen (15) days following Buyer’s receipt of the Damage Notice) of (x) taking the Property at the Closing in accordance with item (a) above, or (y) terminating this Agreement. If, pursuant to the
preceding sentence, Buyer is either obligated or elects to take the Property as it is together with any applicable insurance proceeds or the right to receive the same, (A) Seller agrees to cooperate with Buyer in any loss adjustment
negotiations, legal actions and agreements with the insurance company, and to assign to Buyer at the Closing its rights to any such insurance proceeds with respect to such claim and will not settle any insurance claims or legal actions relating
thereto without Buyer’s prior written consent, which consent shall not be unreasonably withheld or delayed; and (B) an amount equal to any deductible from the insurance proceeds shall be credited against the Closing Payment; provided in no
event is Seller required to provide any funds or credits for costs of repair and restoration or Lost Income. For purposes of this Section 12.1, the Property shall be deemed “materially” damaged if (i) the estimated repair
cost is greater than Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00), (ii) if such damage would entitle any tenant to terminate its Lease or to permanently abate or reduce its rent, or (iii) if the damage or Lost Income is not
covered by Seller’s insurance (and Seller does not elect, in its sole and absolute discretion, to provide a credit for the reasonably estimated cost to repair such uninsured damage and any reasonably estimated Lost Income). 

12.2 Eminent Domain. If, prior to Closing, all or substantially all of the Property is taken by eminent domain or similar
proceeding, this Agreement shall be terminated without further act or instrument. If a material part of the Property is so taken, Buyer shall have the option, by written notice given to Seller within fifteen (15) days after receiving notice of
such taking, to terminate this Agreement. If Buyer does not elect to terminate this Agreement, it shall remain in full force and effect and Seller shall assign, transfer and set over to Buyer at Closing all of Seller’ right, title and interest
in and to any awards that may be made for such taking. Notwithstanding anything to the contrary contained herein, if less than a material part of the Property is so taken, Buyer shall proceed with Closing and take the Property as affected by such
taking, together with all awards or the right to receive same. For the purposes of this Section, a part of the Property shall be deemed “material” if it (i) includes any of the buildings or structures at the Property,
(ii) otherwise (on a permanent basis) materially restricts ingress and egress to and from the Property, (iii) reduces parking count below applicable zoning requirements, (iv) results in any portion of the Property not complying with
zoning or other applicable law or regulation, or (v) entitles any tenant to terminate its Lease or to permanently abate or reduce its 

  
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rent. Seller represents and warrants that no eminent domain or other takings proceedings have been commenced or have been threatened in writing. Seller and Buyer agree that in no event shall any
right-of-way dedication, widening or other improvement which is being undertaken in connection with the construction of the Parking Deck be deemed to constitute an eminent domain or similar proceeding for purposes of this Agreement. 

12.3 Termination. If this Agreement is terminated pursuant to this Section, the Deposit, including all interest earned thereon,
shall be promptly returned to Buyer and the parties hereto shall be released from all further obligations and liabilities hereunder, except with respect to the Surviving Obligations. 

13. Broker. 
 Buyer and Seller represent and warrant to each other that neither they nor their affiliates have dealt with any broker, finder or the like in connection with the transaction contemplated by this
Agreement. Buyer and Seller each agrees to indemnify, defend and hold the other harmless from and against all loss, expense (including reasonable attorneys’ fees and court costs), damage and liability resulting from the claims of any other
broker or finder (including anyone claiming to be a broker or finder) on account of any services claimed to have been rendered to the indemnifying party in connection with the transaction contemplated by this Agreement. The provisions of this
Section shall survive the Closing or the earlier termination of this Agreement. 
 14. Management of the Property Prior to
Closing; Exclusivity. 
 14.1 Between the Effective Date and the date of Closing: 

14.1.1 Seller shall cause the Property to be operated, maintained and managed in a manner consistent with the present management of the
Property; 
 14.1.2 Seller shall not enter into or amend any contract or agreement (except for renewals of expiring Service
Contracts that are terminable without cost upon prior notice of thirty (30) days or less) that would remain binding on the owner of the Property after Closing without the prior written consent of Buyer, which consent shall not be unreasonably
withheld or delayed; provided that no consent shall be required for any contract that is terminable without cost upon prior notice of thirty (30) days or less; provided Seller may amend Service Contracts to separate their application to the
Property from other properties within the Coliseum Centre Office Park; 
 14.1.3 Intentionally omitted; 

14.1.4 Seller shall not enter into any Additional Leases or any renewals, amendments, expansions, or terminations of any Leases (unless
the effect of same is to merely memorialize the exercise of a specific right or option by a tenant thereunder), or consent to any request by a tenant for permission to assign or sublet its leased premises (or any part thereof) to the extent that
Seller, as landlord, has the right to approve or consent to such assignment or subletting, without the prior written consent of Buyer, which consent shall not be unreasonably withheld or delayed and which consent shall be deemed to have been given
if Buyer fails to disapprove any Additional Lease or renewal, amendment, expansion, sublease, assignment, or termination of any Lease submitted to it by Seller within five (5) Business Days after Buyer’s receipt thereof; 

  
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 14.1.5 Except as otherwise specifically contemplated and permitted in this Agreement,
including pursuant to Section 5.5 and Section 6.2.2 hereof, or as may be required by applicable Laws and Regulations, from and after the Effective Date Seller shall not further encumber title to the Property in any consensual
manner, or enter into any easement, covenant, condition, right-of-way or restriction on the Property or any other agreement granting to any person or entity any rights with respect to the Property or any part thereof, or any interest therein, or
amend or modify any such instrument, or voluntarily take any other action that materially and adversely affects title to the Property as same exists on the Effective Date, without the prior written approval of Buyer (which approval shall not be
unreasonably withheld); 
 14.1.6 Seller will deliver to Buyer, promptly after receipt by Seller, a copy of (i) all
current written default and other material notices to and from tenants; (ii) all current written default and other material notices from the service providers under any Service Contracts; and (iii) all written notices of any violations
issued to Seller by Authorities with respect to the Property and any other material notices received from any Authority with respect to the Property; 
 14.1.7 Seller will not apply any security deposits held by Seller under any Lease except in connection with the termination of such Lease; and 

14.1.8 if requested by Buyer, Seller shall endeavor and assist with Buyer’s request to obtain subordination, non-disturbance and
attornment agreements (“SNDAs”) from the tenants pursuant to the Leases in the form provided by Buyer or on the controlling form of such Lease; provided that (i) the receipt of the SNDAs by Buyer shall not be a condition
to Closing, and (ii) the failure to receive the SNDAs shall not constitute a default by Seller hereunder. 

14.2 From the Effective Date until the Closing or sooner termination of this Agreement, Seller agrees that neither Seller
nor any agent, partner or subsidiary or affiliate of Seller shall be permitted to accept or entertain offers, solicit interest, or materially negotiate involving the sale, joint venture, financing, disposition or other transaction involving the
Property (except tenant leasing). 
 15. Defaults. 

15.1 BY BUYER. IF, PRIOR TO THE CLOSING, BUYER IS IN DEFAULT WITH RESPECT TO, OR BREACHES OR FAILS TO PERFORM ONE OR MORE OF THE
REPRESENTATIONS, COVENANTS, WARRANTIES OR OTHER TERMS OF THIS AGREEMENT, AND SUCH DEFAULT, BREACH OR FAILURE IS NOT CURED OR REMEDIED WITHIN FIVE (5) BUSINESS DAYS AFTER RECEIPT OF WRITTEN NOTICE THEREOF (BUT IMMEDIATELY WITH RESPECT TO THE
PERFORMANCE OF CLOSING OBLIGATIONS) GIVEN BY SELLER TO BUYER, SELLER MAY TERMINATE THIS AGREEMENT AND, AS ITS SOLE REMEDY, RECEIVE THE DEPOSIT AND ALL INTEREST EARNED THEREON FROM THE TITLE COMPANY, AS LIQUIDATED DAMAGES, IN WHICH EVENT THIS
AGREEMENT SHALL BE DEEMED NULL AND VOID AND THE PARTIES SHALL BE RELEASED FROM ALL FURTHER OBLIGATIONS 

  
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AND LIABILITIES UNDER THIS AGREEMENT, EXCEPT WITH RESPECT TO THE SURVIVING OBLIGATIONS. IT IS RECOGNIZED BY SELLER AND BUYER THAT THE DAMAGES SELLER WILL SUSTAIN BY REASON OF BUYER’S
DEFAULT, BREACH OR FAILURE WILL BE SUBSTANTIAL, BUT DIFFICULT, IF NOT IMPOSSIBLE, TO ASCERTAIN. THE DEPOSIT HAS BEEN DETERMINED BY THE PARTIES AS A REASONABLE SUM FOR DAMAGES. 
 15.2 BY SELLER. IF, PRIOR TO THE CLOSING, SELLER IS IN DEFAULT WITH RESPECT TO, OR BREACHES, OR FAILS TO PERFORM ONE OR MORE OF THE REPRESENTATIONS, COVENANTS, WARRANTIES OR OTHER TERMS OF THIS
AGREEMENT, AND SUCH DEFAULT, BREACH OR FAILURE IS NOT CURED OR REMEDIED WITHIN FIVE (5) BUSINESS DAYS AFTER RECEIPT OF WRITTEN NOTICE THEREOF GIVEN BY BUYER TO SELLER, BUYER MAY EITHER (A) TERMINATE THIS AGREEMENT, IN WHICH EVENT THE
DEPOSIT AND ALL INTEREST EARNED THEREON SHALL BE RETURNED BY THE TITLE COMPANY TO BUYER AND, IN ADDITION, SELLER SHALL PROMPTLY REIMBURSE TO BUYER ALL REASONABLE OUT-OF-POCKET AND THIRD PARTY PROPERTY DILIGENCE EXPENSES ACTUALLY INCURRED BY BUYER IN
CONNECTION WITH ITS PROPOSED PURCHASE OF THE PROPERTY PURSUANT TO THIS AGREEMENT, NOT TO EXCEED A TOTAL OF $100,000.00, INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEY’S FEES AND COSTS ACTUALLY INCURRED, WHEREUPON THE PARTIES SHALL BE
RELEASED FROM ALL FURTHER OBLIGATIONS AND LIABILITIES UNDER THIS AGREEMENT, EXCEPT WITH RESPECT TO THE SURVIVING OBLIGATIONS, OR (B) COMMENCE WITHIN SIXTY (60) DAYS AFTER THE DATE THE CLOSING WAS TO HAVE OCCURRED AND DILIGENTLY PROSECUTE
AN ACTION IN THE NATURE OF SPECIFIC PERFORMANCE. IF BUYER ELECTS TO COMMENCE AN ACTION IN THE NATURE OF SPECIFIC PERFORMANCE AND IF SUCH ACTION IS UNSUCCESSFUL, THEN THE DEPOSIT (INCLUDING ALL INTEREST AND INCOME) WILL BE RETURNED TO BUYER AND THE
PARTIES RELEASED FROM THEIR OBLIGATIONS UNDER THIS AGREEMENT (EXCEPT THOSE THAT EXPRESSLY SURVIVE TERMINATION OF THIS AGREEMENT). THE REMEDIES SET FORTH ABOVE SHALL BE BUYER’S SOLE REMEDIES ARISING FROM A DEFAULT, BREACH OR FAILURE TO PERFORM
BY SELLER. 
 15.3 Survival. The terms of Section 15.1 and 15.2 shall survive the termination of this
Agreement. 
 16. Notices. 
 Any notice, demand, consent, authorization or other communication (collectively, a “Notice”) which either party is required or may desire to give to or make upon the other party
pursuant to this Agreement shall be effective and valid only if in writing, signed by the party giving such Notice, and delivered personally (upon an officer of the other party or to such individual as may be noted in the addresses stated below) to
the other party or sent by nationally recognized overnight delivery service (e.g., UPS or Federal Express) or by registered or certified mail of the United States Postal Service, return receipt requested, and addressed to the other

  
 -28-

 
party as follows (or to such other address or person as either party or person entitled to notice may by Notice to the other specify) or sent by facsimile transmission to the fax number shown
below and simultaneously delivered by first-class mail of the United States Postal Service or overnight courier: 
  

					
	To Seller:	  	 c/o Vision Equities, LLC
 49
Old Bloomfield Ave
 Mountain Lakes, NJ 07046
 Attention: Fred Arena
 Facsimile: (973) 299-4001

 
 and to:

 
 CarVal Investors, LLC
 12700 Whitewater Drive
 Minnetonka, MN 55343

Attention: Paul Mullaney
 Facsimile: (952)
984-3972
  
 and to:

 
 Faegre Baker Daniels LLP
 2200 Wells Fargo Center
 90 South Seventh Street

Minneapolis, MN 55402-3901
 Attention: Jeffrey S.
Thiede
 Facsimile: (612) 766-1600
	  	
			
	 To Buyer:
	  	 Series C, LLC
 c/o Cole Real
Estate Investments
 2325 E. Camelback Road, Suite 1100
 Phoenix, AZ 85016
 Attention: Daniel T. Haug, Esq.

Facsimile: (480) 449-7012
  
 and to:
  
 Morris, Manning &
Martin, LLP
 1600 Atlanta Financial Center
 3343 Peachtree Road, NE
 Atlanta, GA 30326
 Attention: Marc R. Bulson
 Facsimile: (404) 365-9532
	  	

  
 -29-

					
	 To Escrow Agent:
	  	 Chicago Title of North Carolina
 200 South Tryon Street, Suite 800
 Charlotte NC 28202

Attention: M. Scott Mansfield, Esq.
 Facsimile:
(704) 945-0637
	  	

 Unless otherwise specified, notices shall be deemed given when deposited with a nationally recognized
overnight delivery service (e.g., UPS or Federal Express), the day the same is deposited with the United States Postal Service, or the day the same is deposited with another overnight courier service; however, the time period within which a
response to any notice or request must be given, if any, shall commence to run from the date of actual receipt of such notice by the addressee thereof, but if delivery is not accepted, on the earlier of the date delivery is refused. The terms of
this Section 16 shall survive the Closing. 
 17. Assignment. 

This Agreement and all rights of Buyer arising hereunder shall not be assigned, sold, pledged or otherwise transferred by Buyer in whole
or in part, without the prior written consent of Seller, which may be withheld or conditioned in Seller’s sole discretion. Notwithstanding the foregoing, Buyer may assign this Agreement and all of its rights hereunder to an Affiliate upon
written notice to Seller at least three (3) Business Days prior to Closing. In addition, upon written notice to Seller at least three (3) Business Days prior to the Closing, Buyer shall be entitled to direct Seller to convey its interest
in the One Coliseum Centre Land, the One CC Leasehold Estate, the Two Coliseum Centre Land and/or the Two CC Leasehold Estate to an Affiliate of Buyer (and the assignment form attached as Exhibit J will be modified accordingly). Any
assignment permitted or consented to hereunder shall be effected by a written assignment and assumption agreement between Buyer and its assignee (with a fully executed counterpart thereof to be delivered to Seller at or prior to the Closing). Buyer
shall remain fully liable under the terms of this Agreement notwithstanding any assignment until Closing occurs, whereupon the assigning party (but not the assignee) shall be relieved of all obligations arising under this Agreement. 

18. Limitation of Liability. 
 Notwithstanding anything to the contrary contained herein, after the Closing: (a) the maximum aggregate liability of Seller, and the maximum aggregate amount which may be awarded to and collected by
Buyer (including, without limitation, for any breach of any representation, warranty and/or covenant by Seller) under this Agreement or under any documents executed hereto or in connection herewith (collectively, the “Other
Documents”) shall under no circumstances whatsoever exceed Five Hundred Thousand and No/100 Dollars ($500,000.00); and (b) no claim by Buyer alleging a breach by Seller of any representation, warranty and/or covenant of Seller
contained herein or in any of the Other Documents may be made, and Seller shall not be liable for any judgment in any action based upon any such claim, unless and until such claim, either alone or together with any other claims by Buyer alleging a
breach by Seller of any such representation, warranty and/or covenant is for an aggregate amount in excess of Twenty-Five Thousand Dollars ($25,000.00), in which event Seller’s liability respecting any such claim or claims shall be for the
entire amount thereof, subject to the 

  
 -30-

 
limitation set forth in clause (a) above. This provision shall expressly survive the Closing or the termination of this Agreement. Notwithstanding anything to the contrary hereinabove
provided, the foregoing limitations shall not apply to any claim by Buyer under Section 20.3 below. 
 19.
General Provisions 
 19.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the
respective successors and permitted assigns of the parties hereto. 
 19.2 Gender and Number. Whenever the context so
requires, the singular number shall include the plural and the plural the singular, and the use of any gender shall include all genders. 
 19.3 Entire Agreement. This Agreement contains the complete and entire agreement between the parties respecting the transaction contemplated herein and supersedes all prior negotiations,
agreements, representations and understandings, if any, between the parties respecting such matters. 
 19.4
Counterparts. This Agreement may be executed in any number of original counterparts, all of which evidence only one agreement and only one of which need be produced for any purpose. 

19.5 Modifications. This Agreement may not be modified, discharged or changed in any respect whatsoever, except by a further
agreement in writing duly executed by Buyer and Seller. However, any consent, waiver, approval or authorization shall be effective if signed by the party granting or making such consent, waiver, approval or authorization. 

19.6 Exhibits. All exhibits referred to in this Agreement are incorporated herein by reference and shall be deemed part of this
Agreement for all purposes as if set forth at length herein. 
 19.7 Governing Law. This Agreement shall be construed and
enforced in accordance with the laws of the State of North Carolina. Seller and Buyer hereby irrevocably agree that all actions or proceedings in any way, manner or respect, arising out of or from or related to this Agreement shall be litigated in
courts having sites within the State of North Carolina. Seller and Buyer hereby consent and submit to the jurisdiction of any state court located within the County of Mecklenburg or federal court located within the State of North Carolina. Each
party hereby irrevocably waives any right it may have to transfer or change the venue of any litigation brought against it by the other party in any court described in this Section. 

19.8 No Recordation. This Agreement shall not be recorded (nor shall any memorandum or other evidence thereof). Violation of this
provision by Buyer shall automatically terminate this Agreement and entitle Seller to receive the Deposit without further action, consent or release from Buyer first being required, and to such other remedies available at law or in equity.

  
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 19.9 Captions. The captions of this Agreement are for convenience and reference only
and in no way define, describe, extend or limit the scope, meaning or intent of this Agreement. 
 19.10 Severability.
The invalidation or unenforceability in any particular circumstance of any of the provisions of this Agreement shall in no way affect any of the other provisions hereof, which shall remain in full force and effect. 

19.11 No Joint Venture. This Agreement shall not be construed as in any way establishing a partnership, joint venture, express or
implied agency, or employer-employee relationship between Buyer and Seller. 
 19.12 No Third Party Beneficiaries. This
Agreement is for the sole benefit of the parties hereto, their respective successors and permitted assigns, and no other person or entity shall be entitled to rely upon or receive any benefit from this Agreement or any term hereof. 

19.13 Survival. The provisions of this Section 19 shall expressly survive the Closing. Except as otherwise expressly
set forth in this Agreement, the covenants, warranties, representations and indemnities of Seller and Buyer contained in this Agreement shall not survive the Closing. 
 19.14 Public Disclosure. Except to the extent required by applicable statute, law rule, regulation, regulatory practice, subpoena or Authorities, neither Seller nor Buyer shall make any public
disclosure of the transaction contemplated by this Agreement, or any terms of this Agreement, except as reasonably necessary to carry out the objectives of this Agreement, without the prior written consent of the other party, which consent shall not
be unreasonably withheld or delayed; provided that the parties may disclose this Agreement and the terms thereof to each of its respective accountants, attorneys, lender, professional advisors, investors and potential investors. 

19.15 Tax Deferred Exchange. Each party agrees to cooperate with the other if the requesting party (or parties) desires to effect
a tax-deferred exchange in connection with this transaction. Such cooperation shall be at no additional cost to the cooperating party, and neither party shall be required to take an assignment of the purchase agreement for the replacement property
or to accept title to any other property, except for Buyer’s acquisition of title to the Property. In the event of any assignment of this Agreement by Seller to a qualified intermediary, Seller shall remain responsible for its obligations under
this Agreement other than the direct conveyance of the Property to Buyer. The consummation of a taxed-deferred exchange shall not be a condition to either party’s obligations hereunder. 

19.16 Time of Essence. TIME IS OF THE ESSENCE OF THIS AGREEMENT AND OF ALL OF THE OBLIGATIONS OF BUYER AND SELLER HEREUNDER.

 19.17 Execution. The submission of this Agreement for examination does not constitute an offer by or to either party.
This Agreement shall be effective and binding only after due execution and delivery by the parties hereto. For purposes of this Agreement, the term “Effective Date” shall mean the date set forth in the first paragraph of this
Agreement. Signatures to this Agreement transmitted by e-mail or PDF shall be valid and effective to bind 

  
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the party so signing. A copy of the electronic mail or PDF shall also be sent to the intended addressee by one of the means described in Section 16 above, in any case with all charges
prepaid, addressed to the appropriate party at its address provided herein. 
 19.18 Business Days. If the final date of
any period set forth herein (including, the Closing Date) falls on a day which is not a Business Day the final date of such period shall be extended to the next Business Day. 
 19.19 Vision Equities. Seller and Buyer each acknowledge and agree that (a) Vision Equities LLC, a New Jersey limited liability company, (“Vision Equities”), is the
Manager of each Seller and an affiliate of an indirect owner of each Seller, and (b) Buyer may enter into discussions with Vision Equities regarding asset management services to Buyer following Closing and retain Vision Equities for such
services. It is not a condition precedent to the obligations of either Buyer or Seller that any such agreement or contract be agreed upon or entered into. Buyer further acknowledges and agrees that any information obtained through or as a result of
such discussions or arrangement with Vision Equities are not representations or warranties by or on behalf of Seller, and Seller has no responsibility for such information or for the performance of Vision Equities. Seller will have no liability or
responsibility with respect to any agreement by and between Buyer and Vision Equities. This Section 19.19 does not limit the provisions of Section 6.4 hereof or any other limitations of Seller liability under this Agreement.

 19.20 Rights of First Refusal. If any of the Leases contain tenant rights of first refusal or rights of first offer
(either such right, a “ROFR”), Seller agrees that, if any tenant gives notice of its intent to exercise its ROFR under its Lease or does actually exercise such ROFR, and Seller does not cause such tenant to waive it ROFR,
this Agreement shall terminate, provided that Buyer shall receive a full return of the Deposit and Seller shall promptly reimburse to Buyer all reasonable out-of-pocket and third party property diligence expenses actually incurred by Buyer,
including, without limitation, reasonable attorneys’ fees and costs actually incurred. The Seller’s obligation under this Section 19.20 shall survive the termination of this Agreement. 

19.21 Financial Information. Seller understands that Buyer is subject to the reporting requirements of the Securities Exchange Act
of 1933, as amended, the Securities Act of 1933, as amended, and Rule 3-14 of Regulation S-X. In order to enable Buyer to comply with such reporting requirements, Seller agrees to provide Buyer and its representatives, upon Buyer’s request,
access to the books and records of the Property maintained by Seller regarding the period for which Buyer is required to have the Property audited under the rules or regulations of the Securities and Exchange Commission or any other governing body.
Seller shall not be obliged by this Section 19.21 to incur any liability or expenses. However, Seller will cooperate in providing data and by being available to answer questions with respect to its records as they arise. This
Section 19.21 shall survive the Closing. 
 20. Post-Closing Obligations. 

20.1 Leasing Costs. Seller shall be responsible for the cost of all leasing commissions, tenant improvement allowances, and other
allowances and costs required to be paid by the landlord (collectively, “Leasing Costs”) under the terms of (i) the Existing Leases 

  
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(relative only to the current and prior terms of such Existing Leases), (ii) the renewal, extension, expansion of, or the exercise of any other option under Existing Leases that has been
exercised by a tenant prior to the Effective Date, and (iii) amendments of Existing Leases, which amendments are entered into prior to the Effective Date. In addition, Seller shall be responsible for any Leasing Costs resulting from any
amendment to the Compass Lease of One Coliseum Centre entered into by Seller in connection with the elimination of the tenant’s contraction option contained therein. Seller shall, at its option, pay, or cause to be paid, prior to Closing, or to
the extent unpaid credit Buyer at Closing (to the extent unpaid), all Leasing Costs for which Seller is responsible pursuant to the foregoing provisions. With respect to all existing allowances payable to Compass (as defined below) under the Compass
Leases, (other than the matters addressed in Section 20.2, and Section 20.3), Seller shall accomplish the credit to Buyer by assigning its interest in that certain Compass TI Escrow Agreement between Seller, Coliseum Transfer
and Escrow Agent dated April 16, 2012 (the “Compass TI Escrow Agreement”) pursuant to Section 20.5. Except as set forth in Section 8.1.3 and Section 20.3, Buyer shall be responsible
for all other Leasing Costs. In addition, notwithstanding anything to the contrary provided in this Section 20.1, Buyer shall be responsible for all Additional Allowances (as defined in Section 9.2 of the Compass Leases)
under the Compass Leases. The provisions of this Section 20.1 shall survive the Closing. 
 20.2 Parking
Deck. Seller and Buyer acknowledge that, prior to the Effective Date, Coliseum Transfer Inc. (“Coliseum Transfer”), the predecessor to Coliseum Building, entered into (i) that certain Lease Agreement with Compass
Group USA, Inc. (“Compass”) dated July 1, 2011 (relative to Compass’ premises in One Coliseum Centre) and (ii) that certain Lease Agreement with Compass dated July 1, 2011 (relative to Compass’
premises in Two Coliseum Centre) (collectively, and as amended, the “Compass Leases”). Seller and Buyer further acknowledge that (i) the Compass Leases require Coliseum Transfer to construct a parking deck that will
provide parking for tenants and occupants of One Coliseum Centre and Two Coliseum Centre, all as more particularly described in the Compass Leases (the “Parking Deck”), (ii) the construction of the Parking Deck may not
be fully completed as of the Effective Date, and (iii) Coliseum Transfer is responsible for completing the Parking Deck pursuant to an agreement between Seller and Coliseum Transfer. Pursuant to the terms of that certain Additional Escrow
Agreement dated April 16, 2012 between Coliseum Transfer, Seller, and Escrow Agent (the “Additional Escrow Agreement”), Coliseum Transfer is to deliver to Seller certain documents (defined therein as the “Final
Documents”) with respect to the Parking Deck upon completion thereof (herein referred to as the “Parking Deck Completion Materials”). Upon its receipt of the Parking Deck Completion Materials from Coliseum Transfer,
Seller shall provide copies of the same to Buyer. Following such completion of the Parking Deck, (as evidenced by the Parking Deck Completion Materials), the parties shall proceed to Closing pursuant to Section 9.1, (subject to the other
terms and conditions of this Agreement). 
 20.3 Intentionally omitted. 

20.4 Limitation. Effective as of Closing, Seller shall transfer to Buyer, to the extent assignable, and without any representation
or warranty, all its interest in any warranties related to the Parking Deck and the refurbishment and/or expansion of the Fitness Centers in the One Coliseum Centre and Two Coliseum Centre buildings (such Fitness Center work, the “Fitness
Center Work.”) Notwithstanding the foregoing, except in connection with any Excepted 

  
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Claims, (as defined in Section 6.5), Seller shall have no other obligations regard to the Parking Deck or Fitness Center Work. Without limiting the foregoing or anything else
contained in this Agreement, Buyer hereby releases Seller and the other Released Parties from (a) any and all matters related to the Parking Deck, the physical condition of the Parking Deck and any defects in the Parking Deck, and (b) any
and all matters related to the Fitness Center Work, and the physical condition of the Fitness Center Work and any defects in the Fitness Center Work. Seller shall have no liability to Buyer for reason of the Parking Deck or the Fitness Center Work
not being completed, and Seller shall not be obligated to contribute or pay any funds for the completion of such work. The provisions of this Section 20.4 shall survive the Closing. 

20.5 Escrow Agreements. At Closing, Seller shall assign to Buyer and Buyer shall assume all of Seller’s rights and
obligations under the Compass TI Escrow Agreement and the Additional Escrow Agreement pursuant to an assignment agreement in the form set forth on Exhibit L attached hereto (the “Escrow Assignment Agreement”).
Portions of the funds escrowed under such escrow agreements may have been released and applied prior to the Effective Date, and some or all of the funds escrowed pursuant to such agreements may be released and applied prior to Closing; if all of the
escrowed funds under one or more of the escrowed agreements have been released prior to Closing and all additional obligations of Coliseum Transfer under such agreements have been fully performed prior to Closing, then the Escrow Assignment
Agreement shall be modified to exclude such escrow agreement. During the term of this Agreement Seller shall not enter into any modification or amendment of any of such agreements, waive or release any of its rights under any of such agreements, or
terminate any of such agreements without the prior written consent of Buyer, unless Seller is obligated to do so pursuant to the terms of any such agreement. Seller hereby represents and warrants to Buyer that (i) Seller has provided true,
correct and complete copies of the Compass TI Escrow Agreement and the Additional Escrow Agreement, (ii) Seller is not aware of any dispute between Seller and Coliseum Transfer under any of such agreements, or of any failure of Coliseum
Transfer to perform its obligations thereunder, and (iii) Seller has not waived any of its rights under any of such agreements as of the Effective Date. Seller shall, from and after the Effective Date to the date of Closing, comply with every
covenant and agreement of Seller under such agreements in all material respects. Seller shall provide Buyer with a copy of any written notice received by Seller from Coliseum Transfer or its agents under such agreements. 

[SIGNATURE PAGE TO FOLLOW] 

  
 -35-

 IN WITNESS WHEREOF, the parties have caused this instrument to be executed as of the date first above
written. 
  

							
	 SELLER:

	
	 CV COLISEUM BUILDING, LLC

a Delaware limited liability company

		
	 By:
	 	VISION EQUITIES, LLC, a New Jersey
limited liability company, its Manager
				
		 	 By:
	 		 	 /s/ Fred Arena

		 		 		 	 Fred Arena

		 		 		 	 Authorized Signatory and Manager

	
	 CV COLISEUM LEASE 1, LLC

a Delaware limited liability company

		
	By:	 	VISION EQUITIES, LLC, a New Jersey
limited liability company, its Manager
				
		 	By:	 		 	 /s/ Fred Arena

		 		 		 	Fred Arena
		 		 		 	Authorized Signatory and Manager
	
	 CV COLISEUM LEASE 2, LLC

a Delaware limited liability company

		
	 By:
	 	VISION EQUITIES, LLC, a New Jersey
limited liability company, its Manager
				
		 	 By:
	 		 	 /s/ Fred Arena

		 		 		 	Fred Arena
		 		 		 	Authorized Signatory and Manager

  
 -36-

 
	
	 BUYER:

	
	SERIES C, LLC, an Arizona limited liability company
	
	 By: /s/Todd
Weiss                                        
                

	
	 Name: Todd
Weiss                                        
               

	
	 Title: Authorized
Officer                                        
     

  
 -37-

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