Document:

EX-10.3

ASSIGNMENT OF CONTRACT

THIS ASSIGNMENT OF CONTRACT (the “Assignment”) is made as of the 19‘x’ day of April
2006 by Triple Net Properties, LLC, a Virginia limited liability company (“Assignor”) to NNN 901
Civic, LLC, a Delaware limited liability company and NNN VF 901 Civic, LLC, a Delaware limited
liability company (“Assignee”), in ownership percentages to be determined between the parties.

RECITALS

Santa Ana Arts IV, Inc., a California corporation, f/k/a American Pacific Secured File
Storage, Inc., a California corporation entered into that certain Agreement of Sale and Purchase,
dated as of March 27, 2006 and amended March 30, 2006 (the “Contract”) with respect to certain
property known as 901 Civic Center Drive; Santa Ana, California; as more particularly described in
the Contract. Assignor desires to assign all of its rights, title and interest in and to the
Contract to Assignee.

AGREEMENT

FOR and in consideration of the premises and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Assignor hereby assigns all of its
rights, title and interest in and to the Contract to Assignee.

Assignee by its execution of this Assignment hereby assumes all of Assignor’s obligations
under the Contract,

WITNESS the following signatures:

	 	 	 
	ASSIGNOR:

	 	Triple Net Properties, LLC,

a Virginia limited liability company
	 
	 	 
	
 
	 	By: /s/ Richard Hutton
	
 
	 	 
	 
	 	 
	
 
	 	Name: RICHARD HUTTON
	
 
	 	 
	 
	 	 
	
 
	 	Title: CHIEF INVESTMENT OFFICER
	
 
	 	 
	 
	 	 
	ASSIGNEE:

	 	NNN 901 Civic, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	By: Triple Net Properties, LLC,

a Virginia limited liability company
	 
	 	 
	
 
	 	Its: Manager
	 
	 	 
	
 
	 	By: /s/ Richard Hutton
	
 
	 	 
	 
	 	 
	
 
	 	Name: RICHARD HUTTON
	
 
	 	 
	 
	 	 
	
 
	 	Title: CHIEF INVESTMENT OFFICER
	
 
	 	 
	 
	 	 
	
 
	 	NNN VF 901 Civic, LLC,

a Delaware limited liability company
	 
	 	 
	
 
	 	By: NNN 2003 Value Fund, LLC

a Delaware limited liability company
	 
	 	 
	
 
	 	By: Triple Net Properties, LLC,

a Virginia limited liability company
	 
	 	 
	
 
	 	Its: Manager
	 
	 	 
	
 
	 	By: /s/ Richard Hutton
	
 
	 	 
	 
	 	 
	
 
	 	Name: RICHARD HUTTON
	
 
	 	 

	 	 	Title: CHIEF INVESTMENT OFFICEREX-10.1

AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

among

FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP

and

OTHER BORROWERS WHICH MAY BECOME PARTIES TO THIS AGREEMENT

and

KEYBANK NATIONAL ASSOCIATION,

and

OTHER LENDERS WHICH MAY BECOME PARTIES TO THIS AGREEMENT

and

KEYBANK NATIONAL ASSOCIATION,

AS ADMINISTRATIVE AGENT AND SWINGLINE LENDER

and

WACHOVIA BANK, NATIONAL ASSOCIATION, AS SYNDICATION AGENT

and

WELLS FARGO NATIONAL ASSOCIATION

and

BANK OF MONTREAL,

AS CO-DOCUMENTATION AGENTS

with

KEYBANC CAPITAL MARKETS,

AS SOLE LEAD ARRANGER AND SOLE BOOK MANAGER

1

Dated as of April 26, 2006

TABLE OF CONTENTS

§1. DEFINITIONS AND RULES OF INTERPRETATION

§1.1. Definitions

§1.2. Rules of Interpretation

§2. THE REVOLVING CREDIT FACILITY

	 	 	 
	§2.1.

§2.2.

§2.3.

§2.4.

§2.5.

§2.6.

§2.7.

§2.8.

§2.9.

§2.10.

	 	Commitment to Lend

The Revolving Credit Notes

Interest on Revolving Credit Loans; Fees

Requests for Revolving Credit Loans

Conversion Options

Funds for Revolving Credit Loans

Reduction of Commitment

Increase in Total Commitment

Extension of Revolving Credit Maturity Date

Swingline Loans

§3. REPAYMENT OF THE LOANS

	 	 	 
	§3.1.

§3.2.

§3.3.

	 	Maturity

Optional Repayments of Revolving Credit Loans

Mandatory Repayment of Loans

§4. CERTAIN GENERAL PROVISIONS

	 	 	 
	§4.1.

§4.2.

§4.3.

§4.4.

§4.5.

§4.6.

§4.7.

§4.8.

§4.9.

	 	Funds for Payments

Computations

Inability to Determine Libor Rate

Illegality

Additional Costs, Etc.

Capital Adequacy

Certificate; Limitations

Indemnity

Interest on Overdue Amounts; Late Charge

§5. LETTERS OF CREDIT

	 	 	 
	§5.1.

§5.1.1.

§5.1.2.

§5.1.3.

§5.1.4.

§5.2.

§5.3.

§5.4.

§5.5.

	 	Letter of Credit Commitments

Commitment to Issue Letters of Credit

Letter of Credit Applications

Terms of Letters of Credit

Obligations of Lenders with respect to Letters of Credit

Reimbursement Obligation of the Borrower

Letter of Credit Payments; Funding of a Loan

Obligations Absolute

Reliance by Issuer

§6. RECOURSE OBLIGATIONS

§7. REPRESENTATIONS AND WARRANTIES

	 	 	 
	§7.1.

§7.2.

§7.3.

§7.4.

§7.5.

§7.6.

§7.7.

§7.8.

§7.9.

§7.10.

§7.11

§7.12.

	 	Authority, Etc.

Governmental Approvals

Title to Properties; Leases

Financial Statements

No Material Changes, Etc.

Franchises, Patents, Copyrights, Etc.

Litigation

No Materially Adverse Contracts, Etc.

Compliance With Other Instruments, Laws, Etc.

Tax Status

No Event of Default

Investment Company Acts

§7.13. Name; Jurisdiction of Organization; Absence of UCC Financing Statements, Etc.

	 	 	 
	§7.14.

§7.15.

§7.16.

§7.17.

§7.18.

§7.19.

§7.20.

§7.21.

§7.22.

	 	Absence of Liens

Certain Transactions

Employee Benefit Plans; Multiemployer Plans; Guaranteed Pension Plans

Regulations U and X

Environmental Compliance

Subsidiaries

Loan Documents

REIT Status

Anti-Terrorism Regulations

§8. AFFIRMATIVE COVENANTS OF THE BORROWER AND THE TRUST

	 	 	 
	§8.1.

§8.2.

§8.3.

§8.4.

§8.5.

§8.6.

	 	Punctual Payment

Maintenance of Office; Jurisdiction of Organization, Etc.

Records and Accounts

Financial Statements, Certificates and Information

Notices

Existence of Borrower; Maintenance of Properties

§8.7. Existence of the Trust; Maintenance of REIT Status of the Trust; Maintenance of Properties

	 	 	 
	§8.8.

§8.9.

§8.10.

§8.11.

§8.12.

	 	Insurance

Taxes

Inspection of Properties and Books

Compliance with Laws, Contracts, Licenses, and Permits

Use of Proceeds

§8.13. Additional Borrower; Solvency of Borrower; Removal of Borrower; Addition of Real
Estate Asset to Unencumbered Pool

	 	 	 
	§8.14.

§8.15.

§8.16.

§8.17.

§8.18.

§8.19.

§8.20.

	 	Further Assurances

Interest Rate Protection

Environmental Indemnification

Response Actions

Environmental Assessments

Employee Benefit Plans

No Amendments to Certain Documents

§9. CERTAIN NEGATIVE COVENANTS OF THE BORROWER AND THE TRUST

	 	 	 
	§9.1.

§9.2.

§9.3.

§9.4.

§9.5.

§9.6.

§9.7.

	 	Restrictions on Indebtedness

Restrictions on Liens, Etc.

Restrictions on Investments

Merger, Consolidation and Disposition of Assets; Assets of the Trust

Compliance with Environmental Laws

Distributions

Government Regulation

§10. FINANCIAL COVENANTS; COVENANTS REGARDING ELIGIBLE UNENCUMBERED PROPERTIES

	 	 	 
	§10.1.

§10.2.

§10.3.

§10.4.

§10.5.

§10.6.

§10.7.

	 	Consolidated Total Leverage Ratio

[Reserved.]

Fixed Charge Coverage Ratio

Net Worth

Unencumbered Pool Leverage

Unencumbered Pool Interest Coverage Ratio

Occupancy

§11. RESERVED

§12. CONDITIONS TO THE FIRST ADVANCE

	 	 	 
	§12.1.

§12.2.

§12.3.

§12.4.

§12.5.

§12.6.

§12.7.

	 	Loan Documents

Certified Copies of Organization Documents

By-laws; Resolutions

Incumbency Certificate: Authorized Signers

Opinion of Counsel Concerning Organization and Loan Documents

Guaranty

Financial Analysis of Eligible Unencumbered Properties
	
 
	 	 
	§12.8.

	 	Inspection of Eligible Unencumbered Properties
	
 
	 	 

	 	 	 
	§12.9. Certifications from Government Officials; UCC-11 Reports

	 
	 	 
	§12.10.

§12.11.

§12.12.

§12.13.

	 	Proceedings and Documents

Fees

Closing Certificate

Other Matters

§13. CONDITIONS TO ALL BORROWINGS

	 	 	 
	§13.1.

§13.2.

§13.3.

§13.4.

§13.5.

§13.6.

§13.7.

	 	Representations True; No Event of Default; Compliance Certificate

No Legal Impediment

Governmental Regulation

Borrowing Documents

[Reserved.]

New Unencumbered Pool Property

Continued Compliance

§14. EVENTS OF DEFAULT; ACCELERATION; ETC.

	 	 	 
	§14.1.

§14.2.

§14.3.

	 	Events of Default and Acceleration

Termination of Commitments

Remedies

15. SECURITY INTEREST AND SET-OFF

15.1 Security Interest

15.2 Set-Off and Debit

15.3 Right to Freeze

15.4 Additional Rights

§16. THE AGENT

	 	 	 
	§16.1.

§16.2.

§16.3.

§16.4.

§16.5.

§16.6.

§16.7.

§16.8.

§16.9.

§16.10.

	 	Authorization

Employees and Agents

No Liability

No Representations

Payments

Holders of Notes

Indemnity

Agent as Lender

Notification of Defaults and Events of Default

Duties in Case of Enforcement

§16.11. Successor Agent

§16.12. Notices

§16.13. Other Agents

§17. EXPENSES

§18. INDEMNIFICATION

§19. SURVIVAL OF COVENANTS, ETC.

§20. ASSIGNMENT; PARTICIPATIONS; ETC.

	 	 	 
	§20.1.

§20.2.

§20.3.

§20.4.

§20.5.

§20.6.

§20.7.

§20.8.

§20.9.

	 	Conditions to Assignment by Lenders.

Certain Representations and Warranties; Limitations; Covenants

Register

New Notes

Participations

Pledge by Lender

No Assignment by Borrower

Disclosure

Syndication

§21. NOTICES, ETC.

§22. FPLP AS AGENT FOR THE BORROWER

§23. GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE

§24. HEADINGS

§25. COUNTERPARTS

§26. ENTIRE AGREEMENT, ETC.

§27. WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS

§28. CONSENTS, AMENDMENTS, WAIVERS, ETC.

§29. SEVERABILITY

§30. INTEREST RATE LIMITATION

§31. USA PATRIOT ACT NOTIFICATION

2

Exhibits to Revolving Credit Agreement

Exhibit A – Form of Revolving Credit Note

Exhibit A-1 — Form of Swingline Note

Exhibit B – Form of Completed Loan Request

Exhibit B-1 — Form of Availability Certificate

Exhibit C – Forms of Compliance Certificates

Exhibit D – Form of Assignment and Assumption

Exhibit E – Form of Joinder Agreement

3

Schedules to Revolving Credit Agreement

	 	 	 
	Schedule 1

	 	Borrowers
	 
	 	 
	Schedule 2

	 	Lender’s Commitments
	 
	 	 
	Schedule 7.1(b)

	 	Capitalization
	 
	 	 
	Schedule 7.3(c)

	 	Partially-Owned Entities
	 
	 	 
	Schedule 7.7

	 	Litigation
	 
	 	 
	Schedule 7.13

	 	Legal Name; Jurisdiction
	 
	 	 
	Schedule 7.15

	 	Affiliate Transactions
	 
	 	 
	Schedule 7.16

	 	Employee Benefit Plans
	 
	 	 
	Schedule 7.19

	 	Subsidiaries
	 
	 	 
	Schedule 8.19

	 	Employee Benefit Plans
	 
	 	 
	Schedule 9.1

9.1(g)

	 	Indebtedness

Contingent Liabilities

4

AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

This AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT is made as of the 26th day of April,
2006, by and among FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP, a Delaware limited
partnership (“FPLP”) and the Wholly-Owned Subsidiaries (defined below) which are listed on Schedule
1 hereto (as such Schedule 1 may be (or may be deemed to be) amended from time to time (FPLP and
any such Wholly-Owned Subsidiary being hereinafter referred to collectively as the “Borrower”
unless referred to in their individual capacities), having their principal place of business at
7600 Wisconsin Avenue, 11th Floor, Bethesda, Maryland 20814; KEYBANK NATIONAL
ASSOCIATION (“KeyBank”), having a principal place of business at 127 Public Square, Cleveland, Ohio
44114, WACHOVIA BANK, NATIONAL ASSOCIATION, WELLS FARGO NATIONAL ASSOCIATION, BANK OF MONTREAL and
the other lending institutions which are as of the date hereof or may become parties hereto
pursuant to §20 (individually, a “Lender” and collectively, the “Lenders”); KEYBANK, as
administrative agent for itself and each other Lender (the “Agent”), WACHOVIA BANK, NATIONAL
ASSOCIATION, as Syndication Agent and WELLS FARGO NATIONAL ASSOCIATION and BANK OF MONTREAL, as
Co-Documentation Agents; and KEYBANC CAPITAL MARKETS, as Sole Lead Arranger and Sole Book Manager.

RECITALS

A. The Borrower, certain of the Lenders (the “Original Lenders”) and KeyBank as Agent
are parties to that certain Revolving Credit Agreement, dated as of November 30, 2004 (as amended
and modified prior to the date hereof, the “Original Credit Agreement”), pursuant to which
the Original Lenders established a revolving credit facility in favor of the Borrower.

B. The Borrower has requested that Original Lenders amend and restate the Original Credit
Agreement to increase the revolving credit facility available to the Borrower to $125,000,000, as
well as to modify the Original Credit Agreement in certain other respects, and subject to the terms
and conditions hereof, the Lenders and the Agent are willing to do so.

C. The Borrower is primarily engaged in the business of owning, acquiring, developing,
renovating and operating office, industrial and so-called flex properties in the Mid-Atlantic
region of the United States.

D. First Potomac Realty Trust, a Maryland real estate investment trust (the “Trust”), is the
sole general partner of FPLP, holds in excess of 80% of the partnership interests in FPLP as of the
date of this Agreement, and is qualified to elect REIT status for income tax purposes and has
agreed to guaranty the obligations of the Borrower hereunder and under the other Loan Documents (as
defined below).

E. The Borrower and the Trust have requested, and the Lenders have agreed to establish an
unsecured revolving credit facility for use by the Borrower pursuant to the terms and conditions
hereof.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
parties hereto agree to amend and restate the Original Credit Agreement in its entirety as set
forth below:

§1. DEFINITIONS AND RULES OF INTERPRETATION.

§1.1. Definitions. The following terms shall have the meanings set forth in this §1 or
elsewhere in the provisions of this Agreement referred to below:

AAP Qualification. See §7.6.

Accountants. In each case, independent certified public accountants reasonably
acceptable to the Majority Lenders. The Lenders hereby acknowledge that the Accountants may
include KPMG LLP and any other so-called “big-four” accounting firm.

Accounts Payable. Accounts payable of the Borrower, the Trust and their respective
Subsidiaries, as determined in accordance with GAAP.

Adjusted EBITDA. As at any date of determination, an amount equal to (i) Consolidated
EBITDA for the applicable period; minus (ii) the Capital Reserve on such date.

Adjusted Net Operating Income. As at any date of determination, an amount equal to
(i) the Net Operating Income of the Unencumbered Pool for the applicable period; minus (ii)
the Unencumbered Pool Capital Reserve on such date.

Affiliate. With reference to any Person, (i) any director, officer, general partner,
trustee or managing member (or the equivalent thereof) of that Person, (ii) any other Person
controlling, controlled by or under direct or indirect common control of that Person, (iii) any
other Person directly or indirectly holding 5% or more of any class of the capital stock or other
equity interests (including options, warrants, convertible securities and similar rights) of that
Person, (iv) any other Person 5% or more of any class of whose capital stock or other equity
interests (including options, warrants, convertible securities and similar rights) is held directly
or indirectly by that Person, and (v) any Person directly or indirectly controlling that Person,
whether through a management agreement, voting agreement, other contract or otherwise.

Agent. See the preamble to this Agreement. The Agent shall include any successor
agent, as permitted by §16.

Agent’s Head Office. The Agent’s office located at 127 Public Square, Cleveland, Ohio
44114, or at such other location as the Agent may designate from time to time, or the office of any
successor agent permitted under §16.

Agreement. This Amended and Restated Revolving Credit Agreement, including the
Schedules and Exhibits hereto, as the same may be from time to time amended,
restated, modified and/or supplemented and in effect.

Agreement of Limited Partnership of the Borrower. The Amended and Restated Agreement
of Limited Partnership of FPLP, dated September 15, 2003, as amended, among the Trust and the
limited partners named therein, as amended through the date hereof and as the same may be further
amended from time to time as permitted by §8.20.

Anti-Terrorism Laws. Any laws relating to terrorism or money laundering, including
Executive Order No. 13224, the USA Patriot Act of 2001, 31 U.S.C. Section 5318, the laws comprising
or implementing the Bank Secrecy Act, and the laws administered by the United States Treasury
Department’s Office of Foreign Asset Control (as any of the foregoing laws may from time to time be
amended, renewed, extended, or replaced).

Applicable Base Rate Margin. The Applicable Base Rate Margin is set forth in §2.3(c).

Applicable L/C Percentage. With respect to any Letter of Credit, a per annum
percentage equal to the Applicable Libor Margin in effect from time to time.

Applicable Libor Margin. The Applicable Libor Margin is set forth in §2.3(c).

Arranger. Keybanc Capital Markets.

Assignment and Assumption. See §20.1.

Availability. As of the date that any Loan is to be made hereunder or other applicable
date of determination, an amount equal to (i) the Value of Unencumbered Properties at such time
(based upon the most recent financial statements delivered to the Agent but after giving
pro forma effect to the acquisition and disposition of Eligible Unencumbered
Properties after the date of such financial statements) multiplied by (ii) 0.65. The amount
available to be drawn at any time shall be the Availability less the sum of the Maximum Drawing
Amount and the aggregate amount of all outstanding Loans (including Swingline Loans) at such time.

Availability Certificate. A certificate, in the form of Exhibit B-1,
evidencing, as of the applicable date of determination, the amount available to be drawn by the
Borrower.

Base Rate. As at any applicable date of determination, the higher of (i) the variable
per annum rate of interest announced from time to time by KeyBank as its “base rate” and (ii) one
half of one percent (1/2%) plus the Federal Funds Rate. The Base Rate is a reference rate
and does not necessarily represent the lowest or best rate being charged to any customer. Any
change in the Base Rate during an Interest Period shall be effective and result in a corresponding
change on the same day in the rate of interest accruing from and after such day on the unpaid
balance of principal of the Base Rate Loans, if any, effective on the day of such change in the
Base Rate, without notice or demand of any kind.

Base Rate Loan(s). Those Loans bearing interest calculated by reference to the Base
Rate.

Borrower. See the preamble hereto.

Building(s). Individually and collectively, the buildings, structures and
improvements now or hereafter located on the Real Estate Assets.

Business Day. (i) For all purposes other than as covered by clause (ii) below, any
day other than a Saturday, Sunday or legal holiday on which banks in Cleveland, Ohio are open for
the conduct of a substantial part of their commercial banking business; and (ii) with respect to
all notices and determinations in connection with, and payments of principal and interest on, Libor
Rate Loans, any day that is a Business Day described in clause (i) and that is also a Libor
Business Day.

Capital Expenditures. Any expenditure for any item that would be treated or defined
as a capital expenditure under GAAP.

Capital Reserve. As at any date of determination, a capital reserve equal to the
total number of square feet of the Real Estate Assets on such date, multiplied by
$0.15 per annum.

Capitalization Rate. The Capitalization Rate shall be 8.25%.

Capitalized Leases. Leases under which the Borrower or any of its Subsidiaries or any
Partially-Owned Entity is the lessee or obligor, the discounted future rental obligations under
which are required to be capitalized on the balance sheet of the lessee or obligor in accordance
with GAAP.

Cash and Cash Equivalents. As of any date of determination, the sum of (a) the
aggregate amount of unrestricted cash then actually held by the Borrower or any of its
Subsidiaries, (b) the aggregate amount of unrestricted cash equivalents (valued at fair market
value) then held by the Borrower or any of its Subsidiaries and (c) the aggregate amount of cash
then actually held by the Borrower or any of its Subsidiaries in the form of tenant security
deposits, but only to the extent such tenant security deposits are included as a liability on the
Borrower’s Consolidated balance sheet, escrows and reserves. As used in this definition, (i)
“unrestricted” means the specified asset is not subject to any Liens in favor of any Person, and
(ii) “cash equivalents” means that such asset has a liquid, par value in cash and is convertible to
cash on demand. Notwithstanding anything contained herein to the contrary, the term Cash and Cash
Equivalents shall not include the Commitments of the Lenders to make Loans or to make any other
extension of credit under this Agreement.

CERCLA. See §7.18.

Closing Date. April 26, 2006.

Code. The Internal Revenue Code of 1986, as amended and in effect from time to time.

Commitment. With respect to each Lender, the amount set forth from time to time on
Schedule 2 hereto as the amount of such Lender’s Commitment to make Revolving Credit Loans
to, and to participate in the issuance, extension and renewal of Letters of Credit for the account
of, the Borrower as such Schedule 2 may be updated by the Agent from time to time.

Commitment Percentage. With respect to each Lender, the percentage set forth on
Schedule 2 hereto as such Lender’s percentage of the Total Commitment, as such
Schedule 2 may be updated by the Agent from time to time.

Completed Loan Request. A loan request accompanied by all information required to be
supplied under the applicable provisions of §2.4.

Consolidated or consolidated. With reference to any term defined herein, shall mean
that term as applied to the accounts of the Borrower, the Trust and their respective Subsidiaries,
consolidated in accordance with GAAP in accordance with the terms of this Agreement.

Consolidated EBITDA. In relation to the Borrower, the Trust and their respective
Subsidiaries for any applicable period, an amount equal to, without double-counting, the net income
or loss of the Borrower, the Trust and their respective Subsidiaries determined in accordance with
GAAP (before minority interests and excluding the adjustment for so-called “straight-line rent
accounting”) for such period, plus (x) the following to the extent deducted in computing
such Consolidated net income for such period: (i) Consolidated Total Interest Expense for such
period, (ii) losses attributable to the sale or other disposition of assets or debt restructurings
in such period, (iii) real estate depreciation and amortization for such period, and (iv) other
non-cash charges for such period; and minus (y) all gains attributable to the sale or other
disposition of assets or debt restructurings in such period, in each case adjusted to include the
Borrower’s, the Trust’s or any Subsidiary’s pro rata share of EBITDA (and the items
comprising EBITDA) from any Partially-Owned Entity in such period, based on its percentage
ownership interest in such Partially-Owned Entity (or such other amount to which the Borrower, the
Trust or such Subsidiary is entitled or for which the Borrower, the Trust or such Subsidiary is
obligated based on an arm’s length agreement).

Consolidated Fixed Charges. For any applicable period, an amount equal to the sum of
(i) Consolidated Total Interest Expense for such period plus (ii) the aggregate amount of
scheduled principal payments of Indebtedness (excluding balloon payments at maturity) required to
be made during such period by the Borrower, the Trust and their respective Subsidiaries on a
Consolidated basis plus (iii) the dividends and distributions, if any, paid or required to
be paid during such period on the Preferred Equity, if any, of the Borrower, the Trust and their
respective Subsidiaries (other than dividends paid in the form of capital stock).

Consolidated Gross Asset Value. As of any date of determination, the sum of (i)(x)
the Net Operating Income for the most recent fiscal quarter of all of the Real Estate Assets owned
by the Borrower for at least two complete fiscal quarters, less the Management Fee
Adjustment, with the sum thereof multiplied by (y) 4; with the product thereof
being divided by (z) the Capitalization Rate; plus (ii) an amount equal to
the Cost Basis Value of Real Estate Assets not owned for two complete fiscal quarters; plus
(iii) an amount equal to the Cost Basis Value of Real Estate Assets Under Development on such date,
plus (iv) the Cost Basis Value of Land on such date, plus (v) the cost basis of
Mortgage Notes on such date, plus (vi) the value of Cash and Cash Equivalents on such date,
as determined in accordance with GAAP and approved by the Agent, provided that (i) Net
Operating Income from Real Estate Assets included at their Cost Basis Value shall be excluded, and
(ii) Net Operating Income from Real Estate Assets sold or otherwise transferred (unless transferred
to a member of the Potomac Group (other than the Trust)) during the applicable quarter shall be
excluded, with Consolidated Gross Asset Value being adjusted to include the Borrower’s, the Trust’s
or any Subsidiary’s pro rata share of Net Operating Income (and the items
comprising Net Operating Income) from any Partially-Owned Entity in such period, based on its
percentage ownership interest in such Partially-Owned Entity (or such other amount to which the
Borrower, the Trust or such Subsidiary is entitled or for which the Borrower, the Trust or such
Subsidiary is obligated based on an arm’s length agreement).

Consolidated Tangible Net Worth. As of any date of determination, an amount equal to
the Consolidated Gross Asset Value of the Borrower and its Subsidiaries at such date, minus
Consolidated Total Indebtedness outstanding on such date, provided that any amounts
attributable to Real Estate Assets that are required to be reported as “intangibles” under GAAP
pursuant to Financial Accounting Standards Board Statement of Policy No. 141 and 142 shall be
permitted to be added back to “tangible property” for purposes of calculating such Consolidated
Tangible Net Worth.

Consolidated Total Indebtedness. As of any date of determination, Consolidated Total
Indebtedness means for the Borrower, the Trust and their respective Subsidiaries, all obligations,
contingent or otherwise, which should be classified on the obligor’s balance sheet as liabilities,
or to which reference should be made by footnotes thereto, all in accordance with GAAP, including,
in any event, the sum of (without double-counting), (i) all Accounts Payable on such date, and (ii)
all Indebtedness outstanding on such date, in each case whether Recourse, Without Recourse or
contingent, provided, however, that amounts not drawn under the Revolving Credit
Loans on such date shall not be included in calculating Consolidated Total Indebtedness, and
provided, further, that (without double-counting), each of the following shall be
included in Consolidated Total Indebtedness: (a) all amounts of guarantees, indemnities for
borrowed money, stop-loss agreements and the like provided by the Borrower, the Trust and their
respective Subsidiaries, in each case in connection with and guarantying repayment of amounts
outstanding under any other Indebtedness; (b) all amounts for which a letter of credit (including
the Letters of Credit) has been issued for the account of the Borrower, the Trust or any of their
respective Subsidiaries; (c) all amounts of bonds posted by the Borrower, the Trust or any of their
respective Subsidiaries guaranteeing performance or payment obligations; (d) all lease obligations
(including under Capital Leases, but excluding obligations under ground leases); and (e) all
liabilities of the Borrower, the Trust or any of their respective Subsidiaries as partners, members
or the like for liabilities (whether such liabilities are Recourse, Without Recourse or contingent
obligations of the applicable partnership or other Person) of partnerships or other Persons in
which any of them have an equity interest, which liabilities are for borrowed money or any of the
matters listed in clauses (a), (b), (c) or (d) above. Without limitation of the foregoing (without
double counting), with respect to any Partially-Owned Entity, (x) to the extent that the Borrower,
the Trust or any of their respective Subsidiaries or such Partially-Owned Entity is providing a
completion guaranty in connection with a construction loan entered into by a Partially-Owned
Entity, Consolidated Total Indebtedness shall include the Borrower’s, the Trust’s or such
Subsidiary’s pro rata liability under the Indebtedness relating to such completion
guaranty (or, if greater, the Borrower’s, the Trust’s or such Subsidiary’s potential liability
under such completion guaranty) and (y) in connection with the liabilities described in clauses (a)
and (d) above (other than completion guarantees, which are referred to in clause (x)), the
Consolidated Total Indebtedness shall include the portion of the liabilities of such
Partially-Owned Entity which are attributable to the Borrower’s, the Trust’s or such Subsidiary’s
percentage equity interest in such Partially-Owned Entity or such greater amount of such
liabilities for which the Borrower, the Trust or their respective Subsidiaries are, or have agreed
to be, liable by way of guaranty, indemnity for borrowed money, stop-loss agreement or the like, it
being agreed that, in any case, Indebtedness of a Partially-Owned Entity shall not be excluded from
Consolidated Total Indebtedness by virtue of the liability of such Partially-Owned Entity being
Without Recourse. For purposes hereof, the amount of borrowed money shall equal the sum of (1) the
amount of borrowed money as determined in accordance with GAAP plus (2) the amount of those
contingent liabilities for borrowed money set forth in subsections (a) through (e) above, but shall
exclude any adjustment for so-called “straight-line interest accounting”.

Consolidated Total Interest Expense. For any applicable period, the aggregate amount
of interest required in accordance with GAAP to be paid, accrued, expensed or, to the extent it
could be a cash expense in the applicable period, capitalized, without double-counting, by the
Borrower, the Trust and their respective Subsidiaries during such period on: (i) all Indebtedness
of the Borrower, the Trust and their respective Subsidiaries (including the Loans, obligations
under Capital Leases (to the extent Consolidated EBITDA has not been reduced by such Capital Lease
obligations in the applicable period) and any Subordinated Indebtedness and including original
issue discount and amortization of prepaid interest, if any, but excluding any Distribution on
Preferred Equity), (ii) all amounts available for borrowing, or for drawing under letters of credit
(including the Letters of Credit), if any, issued for the account of the Borrower, the Trust or any
of their respective Subsidiaries, but only if such interest was or is required to be reflected as
an item of expense, and (iii) all commitment fees, agency fees, facility fees, balance deficiency
fees and similar fees and expenses in connection with the borrowing of money.

Conversion Request. A notice given by the Borrower to the Agent of its election to
convert or continue a Loan in accordance with §2.5.

Cost Basis Value. The total contract purchase price of a Real Estate Asset plus all
commercially reasonable acquisition costs (including but not limited to title, legal and settlement
costs, but excluding financing costs) that are capitalized in accordance with GAAP.

Default. When used with reference to this Agreement or any other Loan Document, an
event or condition specified in §14.1 that, but for the requirement that time elapse or notice be
given, or both, would constitute an Event of Default.

Delinquent Lender. See §16.5(c).

Disqualifying Environmental Event. Any Release or threatened Release of Hazardous
Substances, any violation of Environmental Laws or any other similar environmental event with
respect to any Eligible Unencumbered Property that could reasonably be expected to cost in excess
of $500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties,
could reasonably be expected to cost in excess of $1,000,000 in the aggregate to remediate.

Disqualifying Structural Event. Any structural issue which, with respect to any
Eligible Unencumbered Property, could reasonably be expected to cost in excess of $500,000 to
remediate or, which, with respect to all of the Eligible Unencumbered Properties, could reasonably
be expected to cost in excess of $1,000,000 in the aggregate to remediate.

Distribution. With respect to:

(i) the Borrower, any distribution of cash or other cash equivalent,
directly or indirectly, to the partners of the Borrower; or any other
distribution on or in respect of any partnership interests of the Borrower; and

(ii) the Trust, the declaration or payment of any dividend on or in respect
of any shares of any class of capital stock or other equity of the Trust, other
than dividends payable solely in shares of common stock by the Trust; the
purchase, redemption, or other retirement of any shares of any class of capital
stock or other equity of the Trust, directly or indirectly through a Subsidiary
of the Trust or otherwise; the return of capital by the Trust to its shareholders
as such; or any other distribution on or in respect of any shares of any class of
capital stock or other equity of the Trust.

Dollars or $. Lawful currency of the United States of America.

Drawdown Date. The date on which any Revolving Credit Loan is made or is to be made,
and the date on which any Revolving Credit Loan is converted or continued in accordance with §2.5.

Eligible Assignee. Any of (a) a commercial bank (or similar financial institution)
organized under the laws of the United States, or any State thereof or the District of Columbia,
and having total assets in excess of $500,000,000; (b) a savings and loan association or savings
bank organized under the laws of the United States, or any State thereof or the District of
Columbia, and having a net worth of at least $100,000,000, calculated in accordance with GAAP; and
(c) a commercial bank (or similar financial institution) organized under the laws of any other
country (including the central bank of such country) which is a member of the Organization for
Economic Cooperation and Development (the “OECD”), or a political subdivision of any such country,
and having total assets in excess of $500,000,000, provided that such bank (or similar
financial institution) is acting through a branch or agency located in the United States of
America. In no event will the Borrower or any Affiliate of the Borrower be an Eligible Assignee.

Eligible Unencumbered Property(ies). As of any date of determination, an Unencumbered
Asset that: (i) is a Permitted Property, (ii) is not the subject of a Disqualifying Environmental
Event or a Disqualifying Structural Event, and (iii) is wholly-owned in fee simple by the Borrower
(the foregoing clauses (i) through (iii) being herein referred to collectively as the “Unencumbered
Property Conditions”).

Employee Benefit Plan. Any employee benefit plan within the meaning of §3(3) of ERISA
maintained or contributed to by the Borrower or any ERISA Affiliate, other than a Multiemployer
Plan.

Environmental Laws. See §7.18(a).

Environmental Reports. See §7.18

ERISA. The Employee Retirement Income Security Act of 1974, as amended and in effect
from time to time.

ERISA Affiliate. Any Person which is treated as a single employer with the Borrower
under §414 of the Code.

ERISA Reportable Event. A reportable event with respect to a Guaranteed Pension Plan
within the meaning of §4043 of ERISA and the regulations promulgated thereunder.

Event of Default. See §14.1.

Extension. See §2.9.

Facility Fee. See §2.3(e).

Federal Funds Rate. For any day, a fluctuating interest rate per annum equal to the
weighted average of the rates on overnight federal funds transactions with members of the Federal
Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not
a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or,
if such rate is not so published for any day that is a Business Day, the average of the quotations
for such day on such transactions received by the Agent from 3 federal funds brokers of recognized
standing selected by the Agent.

Financial Statement Date. December 31, 2005.

Fronting Bank. KeyBank.

“funds from operations”. As defined in accordance with resolutions adopted by the
Board of Governors of the National Association of Real Estate Investment Trusts, as in effect at
the applicable date of determination.

GAAP. Generally accepted accounting principles, consistently applied.

Guaranteed Pension Plan. Any employee pension benefit plan within the meaning of
§3(2) of ERISA maintained or contributed to by the Borrower or the Trust, as the case may be, or
any ERISA Affiliate of any of them the benefits of which are guaranteed on termination in full or
in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan.

Guaranty. The Guaranty, dated as of the date hereof, made by the Trust in favor of
the Agent and the Lenders pursuant to which the Trust guarantees to the Agent and the Lenders the
unconditional payment and performance of the Obligations, as the same may be modified, amended,
restated or reaffirmed from time to time.

Hazardous Substances. See §7.18(b).

Increase. See §2.8.

Increase Conditions. The satisfaction of each and all of the following:

	 	(a)	 	no Default or Event of Default shall have occurred and be
continuing (both before and after giving effect to the Increase) and all
representations and warranties contained in the Loan Documents shall be true
and correct as of the effective date of the Increase (except to the extent
that such representations and warranties relate expressly to an earlier date);

	 	(b)	 	the Increase shall be extended on the same terms and
conditions applicable to the other Loans;

	 	(c)	 	to the extent any portion of the Increase is committed to by
a third party financial institution or institutions not already a Lender
hereunder, such financial institution shall be an Eligible Assignee and
approved by the Agent (such approval not to be unreasonably withheld or
delayed) and each such financial institution shall have signed a counterpart
signature page becoming a party to this Agreement and a “Lender” hereunder;

	 	(d)	 	one or more of the existing Lenders or such other financial
institutions which may become parties hereto incident to the Increase have
committed in writing pursuant to the terms hereof to lend the full aggregate
amount of the Increase; and

	 	(e)	 	the Borrower shall have delivered new Notes or amended and
restated Notes to the extent necessary to reflect each Lender’s Commitment
after giving effect to the Increase.

Indebtedness. All obligations, contingent and otherwise, that in accordance with GAAP
should be classified upon the obligor’s balance sheet as liabilities, or to which reference should
be made by footnotes thereto, including in any event and whether or not so classified: (a) all debt
and similar monetary obligations, whether direct or indirect, including, without limitation, all
Obligations and all obligations under any hedge, swap or other interest rate protection
arrangement, any forward purchase contract or any put; (b) all liabilities secured by any mortgage,
pledge, security interest, lien, charge, or other encumbrance existing on property owned or
acquired subject thereto, whether or not the liability secured thereby shall have been assumed; (c)
all reimbursement obligations under letters of credit (including the Letters of Credit); and (d)
all guarantees for borrowed money, endorsements and other contingent obligations, whether direct or
indirect, in respect of indebtedness or obligations of others, including any obligation to supply
funds (including partnership obligations and capital requirements) to or in any manner to invest
in, directly or indirectly, the debtor, to purchase indebtedness, or to assure the owner of
indebtedness against loss, through an agreement to purchase goods, supplies, or services for the
purpose of enabling the debtor to make payment of the indebtedness held by such owner or otherwise.

Interest Payment Date. As to any Base Rate Loan, the last day of every calendar month
in which such Loan is outstanding, and with respect to any Libor Rate Loan, the last day of the
applicable Interest Period. As to any Swingline Loan, the day such Swingline Loan is due.

Interest Period. With respect to each Revolving Credit Loan, but without duplication
of any other Interest Period, (a) initially, the period commencing on the Drawdown Date of such
Loan and ending on the last day of one of the following periods (as selected by the Borrower in a
Completed Loan Request): (i) for any Base Rate Loan, the calendar month in which such Base Rate
Loan is made (whether by borrowing or by conversion from a Libor Rate Loan), and (ii) for any Libor
Rate Loan, 1, 2 or 3 months; and (b) thereafter, each period commencing at the end of the last day
of the immediately preceding Interest Period applicable to such Revolving Credit Loan and ending on
the last day of the applicable period set forth in (a)(i) and (ii) above (as selected by the
Borrower in a Conversion Request); provided that all of the foregoing provisions relating
to Interest Periods are subject to the following:

(A) if any Interest Period with respect to a LIBOR Rate Loan would otherwise
end on a day that is not a LIBOR Business Day, such Interest Period shall end on
the next succeeding LIBOR Business Day, unless such next succeeding LIBOR
Business Day occurs in the next calendar month, in which case such Interest
Period shall end on the next preceding LIBOR Business Day, as determined
conclusively by the Agent in accordance with the then current bank practice in
London;

(B) if the Borrower shall fail to give notice of conversion as provided in
§2.5, the Borrower shall be deemed to have requested a conversion of the affected
Libor Rate Loan to a Base Rate Loan on the last day of the then current Interest
Period with respect thereto;

(C) any Interest Period relating to any Libor Rate Loan that begins on the
last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest
Period) shall, subject to subparagraph (D) below, end on the last Business Day of
a calendar month; and

(D) no Interest Period may extend beyond the Maturity Date.

Investments. All expenditures made and all liabilities incurred (contingently or
otherwise, but without double-counting): (i) for the acquisition of stock, partnership or other
equity interests or for the acquisition of Indebtedness of, or for loans, advances, capital
contributions or transfers of property to, any Person; (ii) in connection with Real Estate Assets
Under Development; and (iii) for the acquisition of any other obligations of any Person. In
determining the aggregate amount of Investments outstanding at any particular time: (a) there shall
be deducted in respect of each such Investment any amount received as a return of capital (but only
by repurchase, redemption, retirement, repayment, liquidating dividend or liquidating
distribution); (b) there shall not be deducted in respect of any Investment any amounts received as
earnings on such Investment, whether as dividends, interest or otherwise; and (c) there shall not
be deducted from the aggregate amount of Investments any decrease in the value thereof.

ISP. With respect to any Letter of Credit, the “International Standby Practices 1998”
published by the Institute of International Banking Law & Practice (or such later version thereof
as may be in effect at the time of issuance).

Joinder Documents. The one or more Joinder Agreements among the Agent (on behalf of
itself and the Lenders) and any Wholly-owned Subsidiary which is to become a Borrower at any time
after the Closing Date, the form of which is attached hereto as Exhibit E, together with
all other documents, instruments and certificates required by any such Joinder Agreement to be
delivered by such Wholly-owned Subsidiary to the Agent and the Lenders on the date such
Wholly-owned Subsidiary becomes a Borrower hereunder.

Land. An undeveloped Real Estate Asset owned in fee by the Borrower.

Leases. Leases, licenses and other written agreements relating to the use or
occupation of space in or on the Buildings or on the Real Estate Assets by persons other than the
Borrower or any other member of the Potomac Group.

Lenders. Collectively, KeyBank and each other lending institution which, as of any
date of determination, is a party to this Agreement, and any other Person who becomes an assignee
of any rights of a Lender pursuant to §20 or a Person who acquires all or substantially all of the
stock or assets of a Lender.

Letter of Credit Application. See §5.1.1.

Letter of Credit Fee. See §2.3(f).

Letter of Credit Participation. See §5.1.4.

Letters of Credit. See §5.1.1.

Libor Business Day. Any day on which commercial banks are open for international
business (including dealings in Dollar deposits) in London, England.

Libor Breakage Costs. With respect to any Libor Rate Loan to be prepaid prior to the
end of the applicable Interest Period or not borrowed, converted or continued (“drawn” and, with
correlative meaning, “draw”) after elected, a prepayment “breakage” fee in an amount, as reasonably
determined by the Agent, required to compensate the Lenders for any and all additional losses,
costs or expenses that such Lenders incur as a result of such prepayment or failure to borrow,
convert or continue a Libor Rate Loan, including, without limitation, any loss (excluding loss of
anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of
deposits of other funds acquired by any Lender to fund or maintain such Libor Rate Loan.

Libor Rate. For any Libor Rate Loan for any Interest Period, the average rate (rounded
upwards to the nearest 1/16th) as shown in Dow Jones Markets (formerly Telerate) (Page 3750) at
which deposits in U.S. dollars are offered by first class banks in the London Interbank Market at
approximately 11:00 a.m. (London time) on the day that is two (2) Libor Business Days prior to the
first day of such Interest Period with a maturity approximately equal to such Interest Period and
in an amount approximately equal to the amount to which such Interest Period relates, adjusted for
reserves and taxes if required by future regulations. If Dow Jones Markets no longer reports such
rate or Agent determines in good faith that the rate so reported no longer accurately reflects the
rate available to Agent in the London Interbank Market, Agent may select a comparable replacement
index. For any period during which a Reserve Percentage shall apply, the Libor Rate with respect to
Libor Rate Loans shall be equal to the amount determined above divided by an amount equal to 1
minus the Reserve Percentage.

Libor Rate Loan(s). Loans bearing interest calculated by reference to the Libor Rate.

Lien. See §9.2.

Loan Documents. Collectively, this Agreement, the Guaranty, the Notes, the Letters of
Credit, the Letter of Credit Applications, the Joinder Documents and any and all other agreements,
instruments, documents or certificates now or hereafter evidencing or otherwise relating to the
Loans and executed and delivered by or on behalf of the Borrower or its Subsidiaries or the Trust
or its Subsidiaries in connection with or in any way relating to the Loans or the transactions
contemplated by this Agreement, and all schedules, exhibits and annexes hereto or thereto, as any
of the same may from time to time be amended and in effect.

Loans. The Revolving Credit Loans and the Swingline Loans.

Majority Lenders. As of any date of determination, the Lenders whose aggregate
Commitments (excluding the Swingline Commitment) constitute at least sixty-six and two-thirds
percent (66-2/3%) of the Total Commitment (or, if the Commitments have been terminated, the Lenders
whose aggregate Commitments (excluding the Swingline Commitment), immediately prior to such
termination, constituted at least sixty-six and two-thirds percent (66-2/3%) of the Total
Commitment).

Management Fee. For any applicable period, an amount equal to three percent (3%) of
revenue.

Management Fee Adjustment. For any applicable period, the difference between the
Management Fee and the Overhead Allocation, expressed as a positive or negative number, as the case
may be.

Maturity Date. April 26, 2009, or such earlier date (or later date pursuant to §2.9)
on which the Revolving Credit Loans shall become due and payable pursuant to the terms hereof. The
Maturity Date may be extended to April 26, 2010 in accordance with the terms of §2.9.

Maximum Drawing Amount. As of any date of determination, the maximum aggregate amount
that the beneficiaries may at any time draw under outstanding Letters of Credit, as such maximum
aggregate amount may be reduced from time to time pursuant to the terms of the Letter of Credit.

Mortgage Note(s). A mortgage note, in which the Borrower holds a direct interest as
payee, for real estate that is developed, so long as at the relevant date of determination, such
Mortgage Note is not in default.

Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA
maintained or contributed to by the Borrower or the Trust, as the case may be, or any ERISA
Affiliate.

Net Operating Income. For any period, an amount equal to (i) the aggregate rental and
other income from the operation of the applicable Real Estate Assets during such period;
minus (ii) all expenses and other proper charges incurred in connection with the operation
of such Real Estate Assets (including, without limitation, real estate taxes, management fees,
payments under ground leases and bad debt expenses) during such period; but, in any case, before
payment of or provision for debt service charges for such period, income taxes for such period,
capital expenses for such period, and depreciation, amortization, and other non-cash expenses for
such period, all as determined in accordance with GAAP (except that any rent leveling adjustments
shall be excluded from rental income).

Note Record. A Record with respect to any Note.

Notes. The Revolving Credit Notes and the Swingline Note.

Obligations. All indebtedness, obligations and liabilities of the Borrower and its
Subsidiaries to any of the Lenders or the Agent, individually or collectively (but without
double-counting), under this Agreement and each of the other Loan Documents and in respect of any
of the Loans, the Notes and Reimbursement Obligations incurred and the Letter of Credit
Applications and the Letters of Credit and other instruments at any time evidencing any thereof,
whether existing on the date of this Agreement or arising or incurred hereafter, direct or
indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or
unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, and
including any indebtedness, obligations and liabilities of the Borrower and its Subsidiaries under
any Protected Interest Rate Agreement entered into with any Lender.

Organizational Documents. Collectively, (i) the Agreement of Limited Partnership of
FPLP, (ii) the Certificate of Limited Partnership of FPLP, (iii) the Amended and Restated
Declaration of Trust of the Trust, (iv) the Amended and Restated By-Laws of the Trust, and (v) all
of the partnership agreements, corporate charters and by-laws, limited liability company operating
agreements, joint venture agreements or similar agreements, charter documents and certificates or
other agreements relating to the formation, organization or governance of any Borrower (including,
without limitation, any Wholly-owned Subsidiary who becomes a Borrower from time to time
hereunder), in each case as any of the foregoing may be amended in accordance with §8.20.

Overhead Allocation. For any period, the amount of corporate overhead included as a
property operating expense in lieu of a management fee.

Partially-Owned Entity(ies). Any of the partnerships, associations, corporations,
limited liability companies, trusts, joint ventures or other business entities or Persons in which
the Borrower or the Trust, directly, or indirectly through its full or partial ownership of another
entity, own an equity interest, but which is not required in accordance with GAAP to be
consolidated with the Borrower or the Trust for financial reporting purposes.

PBGC. The Pension Benefit Guaranty Corporation created by §4002 of ERISA and any
successor entity or entities having similar responsibilities.

Permits. All governmental permits, licenses, and approvals necessary for the lawful
operation and maintenance of the Real Estate Assets.

Permitted Liens. Liens permitted by §9.2.

Permitted Property. A property which is an income producing office, industrial or a
so-called flex property (or a Real Estate Asset Under Development which will be an income producing
office, industrial or so-called flex property when completed) and is located in the State of
Maryland, the Commonwealth of Virginia or the District of Columbia.

Person. Any individual, corporation, general partnership, limited partnership, trust,
limited liability company, limited liability partnership, unincorporated association, business, or
other legal entity, and any government (or any governmental agency or political subdivision
thereof).

Potomac Group. Collectively, (i) FPLP, (ii) the Trust, (iii) the respective
Subsidiaries of FPLP and the Trust and (iv) the Partially-Owned Entities.

Preferred Equity. Any preferred stock, preferred partnership interests, preferred
member interests or other preferred equity interests issued by the Borrower, the Trust or any of
their respective Subsidiaries.

Protected Interest Rate Agreement. An agreement which evidences the interest
protection arrangements required by §8.15, and all extensions, renewals, modifications, amendments,
substitutions and replacements thereof.

Rate Period. The period beginning on the first day of any fiscal month following
delivery to the Agent of the annual or quarterly financial statements required to be delivered
pursuant to §8.4.1(a) or §8.4(b) and ending on the last day of the fiscal month in which the next
such annual or quarterly financial statements are delivered to the Agent.

RCRA. See §7.18.

Real Estate Assets. The fixed and tangible properties consisting of Land and/or
Buildings owned by the Borrower or any of its Subsidiaries at the relevant time of reference
thereto, including, without limitation, the Eligible Unencumbered Properties at such time of
reference.

Real Estate Assets Under Development. Any Real Estate Assets for which the Borrower
or any of its Subsidiaries is actively pursuing construction of one or more Buildings or other
improvements and for which construction is proceeding to completion without undue delay from Permit
denial, construction delays or otherwise, all pursuant to such Person’s ordinary course of
business, provided that any such Real Estate Asset (or, if applicable, any Building
comprising a portion of any such Real Estate Asset) will no longer be considered a Real Estate
Asset Under Development upon the earlier to occur of (i) Stabilization or (ii) the date which is
six months after a certificate of occupancy has issued for such Real Estate Asset (or Building) or
such Real Estate Asset (or Building) may otherwise be lawfully occupied for its intended use.

Record. The grid attached to any Note, or the continuation of such grid, or any other
similar record, including computer records, maintained by any Lender with respect to any Loan.

Recourse. With reference to any obligation or liability, any liability or obligation
that is not Without Recourse to the obligor thereunder, directly or indirectly. For purposes
hereof, a Person shall not be deemed to be “indirectly” liable for the liabilities or obligations
of an obligor solely by reason of the fact that such Person has an ownership interest in such
obligor, provided that such Person is not otherwise legally liable, directly or indirectly,
for such obligor’s liabilities or obligations (e.g., without limitation, by reason of a guaranty or
contribution obligation, by operation of law or by reason of such Person being a general partner of
such obligor).

Reimbursement Obligation. The Borrower’s obligation to reimburse the Lenders and the
Agent on account of any drawing under any Letter of Credit as provided in §5.2.

REIT. A “real estate investment trust”, as such term is defined in Section 856 of the
Code.

Related Parties. With respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents and advisors of such Person and of such Person’s
Affiliates.

Release. See §7.18(c)(iii).

Reserve Percentage. The maximum aggregate reserve requirement (including all basic,
supplemental, marginal and other reserves) which is imposed on member banks of the Federal Reserve
System against “Euro-currency Liabilities” as defined in Regulation D.

Revolving Credit Loan(s). Each and every revolving credit loan made or to be made by
the Lenders to the Borrower pursuant to §2, and excluding, in any event, all Swingline Loans.

Revolving Credit Notes. Collectively, the separate promissory notes of the Borrower
in favor of each Lender in substantially the form of Exhibit A hereto, in an aggregate
principal amount equal to the Total Commitment in effect from time to time, dated as of the date
hereof or as of such later date as any Person becomes a Lender under this Agreement, and completed
with appropriate insertions, as each of such notes may be amended, replaced, substituted and/or
restated from time to time (including in connection with any Increase).

SARA. See §7.18.

SEC. The Securities and Exchange Commission, or any successor thereto.

SEC Filings. Collectively, (i) each Form 10-K, 10-Q and Form 8-K filed by the Trust
with the SEC from time to time and (ii) each of the other public forms and reports filed by the
Trust with the SEC from time to time.

Stabilization. With respect to any particular Real Estate Asset, the date upon which
such Real Estate Asset first becomes 85% occupied.

Subsidiary. Any corporation, association, partnership, limited liability company,
trust, joint venture or other business entity or Person which is required to be consolidated with
the Borrower or the Trust in accordance with GAAP.

Swingline Commitment. The obligation of the Swingline Lender to make Swingline Loans
to the Borrower in a maximum aggregate principal amount not exceeding at any time Fifteen Million
Dollars ($15,000,000).

Swingline Lender. KeyBank, in its capacity as swingline lender hereunder, or any
Eligible Assignee of KeyBank who executes an Assignment and Assumption assuming KeyBank’s
obligations as Swingline Lender.

Swingline Loans. Collectively, the loans in the maximum aggregate principal amount of
the Swingline Commitment made or to be made by the Swingline Lender to the Borrower pursuant to
§2.10.

Swingline Loan Amount. See §2.10(b).

Swingline Note. The promissory note substantially in the form of Exhibit A-1 hereto
which evidences the Swingline Commitment and the Swingline Loans made thereunder.

Swingline Termination Date. The date which is no later than the 15th day
preceding the Maturity Date.

Total Commitment. As of any date, the sum of the then current Commitments of the
Lenders. As of the Closing Date, the Total Commitment (including the Swingline Commitment) is
$125,000,000. After the Closing Date, the aggregate amount of the Total Commitment (including the
Swingline Commitment) may be increased to an amount not exceeding $225,000,000, provided
that such Increase is in accordance with the provisions of §2.8.

Trust. See preamble.

Type. As to any Revolving Credit Loan, its nature as a Base Rate Loan or a Libor Rate
Loan.

Unanimous Lender Approval. The written consent of each Lender that is a party to this
Agreement at the time of reference.

Unencumbered Asset. Any Real Estate Asset that on any date of determination is not
subject to any Liens (except for Permitted Liens).

Unencumbered Land. The Real Estate Asset commonly referred to as the Sterling Park
Land Parcel, so long as such Real Estate Asset is not subject to any Liens, except for Permitted
Liens.

Unencumbered Pool. As determined from time to time, collectively, the Eligible
Unencumbered Properties that the Borrower has designated in writing to be included in the
Unencumbered Pool, subject to and in accordance with the terms hereof.

Unencumbered Pool Capital Reserve. As at any date of determination, a capital reserve
equal to the total number of square feet of the Eligible Unencumbered Properties on such date,
multiplied by $0.15.

Unencumbered Property Conditions. See definition of “Eligible Unencumbered
Property(ies)”.

Unsecured Consolidated Total Indebtedness. As of any date of determination, the
aggregate principal amount of Consolidated Total Indebtedness outstanding at such date (including
all Obligations), that is not secured by a lien evidenced by a mortgage, deed of trust, negative
pledge, assignment of partnership interests or other security interest.

Unsecured Interest Expense. For any period of determination, Consolidated Total
Interest Expense for such period attributable to the Unsecured Consolidated Total Indebtedness of
the Borrower, the Trust and their respective Subsidiaries.

Value of Unencumbered Properties. At any date of determination, an amount equal to
the sum of (i) (x) the Net Operating Income for the most recent fiscal quarter of the Eligible
Unencumbered Properties owned by the Borrower for at least two complete fiscal quarters, less the
Management Fee Adjustment relating to such Eligible Unencumbered Properties, with the sum thereof
multiplied by (y) 4; with the product thereof being divided by (z)
the Capitalization Rate, plus (ii) an amount equal to the Cost Basis Value of any Eligible
Unencumbered Property not owned for two complete fiscal quarters, plus (iii) an amount
equal to the Cost Basis Value of the Eligible Unencumbered Properties that are Real Estate Assets
under Development, plus (iv) an amount equal to the Cost Basis Value of the Unencumbered Land,
provided that (a) the Net Operating Income attributable to any Eligible Unencumbered
Property sold or otherwise transferred during the applicable period shall be excluded from the
calculation of the Value of Unencumbered Properties, (b) the Net Operating Income of Eligible
Unencumbered Properties included at their Cost Basis Value shall be excluded and (c) the value
included as a result of clause (iii) above shall not exceed ten percent (10%) of the aggregate
Value of Unencumbered Properties at any time, and provided, further, that the Real
Estate Asset commonly known as 2000 Gateway Boulevard shall be included in the Value of
Unencumbered Properties at its Cost Basis Value through the fiscal quarter ending December 31,
2006.

Wholly-owned Subsidiary. Any single purpose entity which is a Subsidiary of FPLP and
of which FPLP at all times owns directly or indirectly (through a Subsidiary or Subsidiaries) 100%
of the outstanding voting or controlling interests and of the economic interests.

“Without Recourse” or “without recourse”. With reference to any obligation or
liability, any obligation or liability for which the obligor thereunder is not liable or obligated
other than as to its interest in a designated Real Estate Asset or other specifically identified
asset only, subject to such limited exceptions to the non-recourse nature of such obligation or
liability, such as fraud, misappropriation and misapplication indemnities, as are usual and
customary in like transactions involving institutional lenders at the time of the incurrence of
such obligation or liability, and to usual and customary environmental indemnification obligations
in connection with such designated Real Estate Asset.

§1.2. Rules of Interpretation.

(i) A reference to any document or agreement shall include such document or
agreement as amended, modified or supplemented from time to time in accordance with
its terms or the terms of this Agreement.

(ii) The singular includes the plural and the plural includes the singular.

(iii) A reference to any law includes any amendment or modification to such law.

(iv) A reference to any Person includes its permitted successors and permitted
assigns.

(v) Accounting terms not otherwise defined herein have the meanings assigned to
them by generally accepted accounting principles applied on a consistent basis by the
accounting entity to which they refer.

(vi) The words “include”, “includes” and “including” are not limiting.

(vii) All terms not specifically defined herein or by generally accepted
accounting principles, which terms are defined in the Uniform Commercial Code as in
effect in New York, have the meanings assigned to them therein.

(viii) Reference to a particular “§” refers to that section of this Agreement
unless otherwise indicated.

(ix) The words “herein”, “hereof”, “hereunder” and words of like import shall
refer to this Agreement as a whole and not to any particular section or subdivision
of this Agreement.

§2. THE REVOLVING CREDIT FACILITY.

§2.1 Commitment to Lend. Subject to the provisions of §2.4 and the other terms and
conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the
Borrower, and the Borrower may borrow, repay, and reborrow from each Lender from time to time
between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent (with
copies to the Agent for each Lender) given in accordance with §2.4, such sums as are requested by
the Borrower up to a maximum aggregate principal amount outstanding (after giving effect to all
amounts requested) at any one time equal to such Lender’s Commitment minus, without double
counting, an amount equal to such Lender’s Commitment Percentage multiplied by the sum of (i) all
Reimbursement Obligations to the extent not yet deemed Revolving Credit Loans and the Maximum
Drawing Amount and (ii) the outstanding principal amount of the Swingline Loans; provided
that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all
amounts requested), plus the Maximum Drawing Amount and, without double counting the
portion, if any, of any Letter of Credit which is drawn and included in the Revolving Credit Loans,
all outstanding Reimbursement Obligations, plus the outstanding principal amount of the
Swingline Loans shall not at any time exceed the lesser of (i) the Total Commitment and (ii) the
Availability at such time, and provided, further, that at the time the Borrower
requests a Revolving Credit Loan and after giving effect to the making thereof: (i) in the case of
any borrowing or other extension of credit, all of the conditions in §13 (and in the case of the
initial borrowing on the Closing Date, also the conditions in §12) have been met at the time of
such request, and (ii) there has not occurred and is not continuing (or will not occur by reason
thereof) any Default or Event of Default.

The Revolving Credit Loans shall be made pro rata in accordance with each
Lender’s Commitment Percentage. Each request for a Revolving Credit Loan made pursuant to §2.4
shall constitute a representation and warranty by the Borrower that the conditions set forth in §12
have been satisfied as of the Closing Date and that the conditions set forth in §13 have been
satisfied on the date of such request and will be satisfied on the proposed Drawdown Date of the
requested Loan or issuance of Letter of Credit, as the case may be, provided that the
making of such representation and warranty by the Borrower shall not limit the right of any Lender
not to lend if such conditions have not been met. No Revolving Credit Loan or other extension of
credit shall be required to be made by any Lender unless all of the conditions contained in §12
have been satisfied as of the Closing Date with respect to the initial Revolving Credit Loan or
issuance of Letter of Credit, and unless all of the conditions set forth in §13 have been satisfied
at the time of any request for a Revolving Credit Loan or other extension of credit and on the
Drawdown Date therefor.

§2.2. The Revolving Credit Notes. The Revolving Credit Loans shall be evidenced by
the Revolving Credit Notes. A Revolving Credit Note shall be payable to the order of each Lender
in an aggregate principal amount equal to such Lender’s Commitment. The Borrower irrevocably
authorizes each Lender to make or cause to be made, at or about the time of the Drawdown Date of
any Revolving Credit Loan or at the time of receipt of any payment of principal on such Lender’s
Revolving Credit Note, an appropriate notation on such Lender’s applicable Note Record reflecting
the making of such Revolving Credit Loan or (as the case may be) the receipt of such payment. The
outstanding amount of the Revolving Credit Loans set forth on such applicable Note Record shall be
prima facie evidence of the principal amount thereof owing and unpaid to such
Lender, but the failure to record, or any error in so recording, any such amount on such Note
Record shall not limit or otherwise affect the rights and obligations of the Borrower hereunder or
under any Revolving Credit Note to make payments of principal of or interest on any Revolving
Credit Note when due.

§2.3. Interest on Revolving Credit Loans; Fees.

(a) Each Base Rate Loan shall bear interest for the period commencing with the Drawdown Date
thereof and ending on the last day of each Interest Period with respect thereto (unless earlier
paid in accordance with §3.2) at a rate equal to the Base Rate plus the Applicable Base
Rate Margin.

(b) Each Libor Rate Loan shall bear interest for the period commencing with the Drawdown Date
thereof and ending on the last day of each Interest Period with respect thereto (unless earlier
paid in accordance with §3.2) at a rate equal to the Libor Rate determined for such Interest Period
plus the Applicable Libor Margin.

(c) With reference to Base Rate Loans and Libor Rate Loans,  the “Applicable Base Rate Margin”
and the “Applicable Libor Margin” shall be equal to (A) from the Closing Date through the end of
the fiscal month in which the financial statements required to be delivered pursuant to §8.4(b) for
the fiscal quarter of the Borrower ending December 31, 2005 are delivered to the Agent, a
percentage equal to 0% for the Applicable Base Rate Margin and 1.20% for the Applicable Libor
Margin, and (B) thereafter, the percentage determined for each Rate Period by reference to the
Table below:

	 	 	 	 	 	 	 	 	 
	Table
	Applicable Margin

	 
	 	 	 	 	 	 	 	 
	Total Leverage Ratio

	 	Applicable Libor Margin
	 	Applicable

Base Rate

Margin

	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	a) greater than 60%

	 	 	1.60	%	 	 	0.25	%
	 
	 	 	 	 	 	 	 	 
	c) less than or equal

to 60% but greater

than 55%

	 	

1.45%
	 	

0.00%

	 
	 	 	 	 	 	 	 	 
	d) less than or equal

to 55% but greater

than 50%

	 	

1.30%
	 	

0.00%

	 
	 	 	 	 	 	 	 	 
	e) less than or equal

to 50%

	 	

1.20%
	 	

0.00%

For purposes of determining the Applicable Base Rate Margin and the Applicable Libor Margin, the
Consolidated Total Leverage Ratio (§10.1 hereof) will be tested quarterly, commencing with the
fiscal quarter of the Borrower ending December 31, 2005, based on the annual or quarterly financial
statements required to be delivered pursuant to §8.4(a) or 8.4(b), respectively. For purposes of
determining the interest rate for any Rate Period hereunder, any interest rate change shall be
effective on the first day of the fiscal month immediately following the date on which the
financial statements required to be delivered pursuant to §8.4(a) or §8.4(b) are delivered to the
Agent, together with a notice to the Agent (which shall be verified by the Agent) specifying any
change in the Applicable Base Rate Margin and/or the Applicable Libor Margin. If the Borrower has
failed to timely deliver the financial statements required to be delivered by it pursuant to
§8.4(a) or §8.4(b), then in addition to the other rights and remedies of the Lenders hereunder, the
Applicable Base Rate Margin and the Applicable Libor Margin that are then in effect shall, at the
Agent’s discretion, be increased to the next highest level until such financial statements are
delivered.

(d) The Borrower unconditionally promises to pay interest on each Revolving Credit Loan in
arrears on each Interest Payment Date with respect thereto, and when the principal of such
Revolving Credit Loan is due (whether at maturity, by reason of acceleration or otherwise).

(e) The Borrower agrees to pay to the Agent, for the accounts of the Lenders in accordance
with their respective Commitment Percentages, from the Closing Date through the Maturity Date, a
facility fee (the “Facility Fee”) calculated at the rate of 0.15% per annum, calculated on the
average daily amount, during each fiscal quarter or portion thereof, of the unborrowed portion of
the Total Commitment. The Facility Fee shall be payable quarterly in arrears on the fifth Business
Day of each calendar quarter for the immediately preceding calendar quarter commencing on the first
such date following the Closing Date through the Maturity Date, with a final payment on the
Maturity Date.

(f) The Borrower shall pay to the Agent a Letter of Credit fee (a “Letter of Credit Fee”) in
an amount equal to the Applicable L/C Percentage of the undrawn amount of each outstanding Letter
of Credit, which fee shall be for the accounts of the Lenders (including the Fronting Bank in its
capacity as a Lender) pro rata in accordance with their respective Commitment
Percentages. Each Letter of Credit Fee shall be payable quarterly in arrears on the fifth Business
Day of each calendar quarter for the immediately preceding calendar quarter, with a final payment
on the Maturity Date or any earlier date on which the Commitments shall terminate (which Letter of
Credit Fee shall be pro-rated for any calendar quarter in which such Letter of Credit is issued,
drawn upon or otherwise reduced or terminated). The Borrower shall also pay to the Fronting Bank,
for its own account, a fee in an amount equal to 0.125% of the face amount of each Letter of Credit
upon issuance thereof, along with reasonable standard documentation and service charges for Letters
of Credit from time to time, as customarily charged by Fronting Bank.

§2.4. Requests for Revolving Credit Loans.

The following provisions shall apply to each request by the Borrower for a Revolving Credit
Loan:

(i) FPLP, for itself and as agent for each other Borrower, shall submit a
Completed Loan Request to the Agent, together with a current Availability
Certificate in the form of Exhibit B-1 hereto. Except as otherwise provided
herein, each Completed Loan Request shall be in a minimum amount of $500,000 or an
integral multiple of $100,000 in excess thereof. Each Completed Loan Request shall
be irrevocable and binding on the Borrower and shall obligate the Borrower to
accept the Revolving Credit Loans requested from the Lenders on the proposed
Drawdown Date.

(ii) Each Completed Loan Request shall be delivered by the Borrower to the
Agent by 10:00 a.m. (x) on the Business Day before the proposed Drawdown Date of
any Base Rate Loan, and (y) at least two (2) Business Days prior to the proposed
Drawdown Date of any Libor Rate Loan.

(iii) Each Completed Loan Request shall include a completed writing in the
form of Exhibit B hereto specifying: (1) the principal amount of the
Revolving Credit Loan requested, (2) the proposed Drawdown Date of such Revolving
Credit Loan, (3) the Interest Period applicable to such Revolving Credit Loan, and
(4) the Type of such Revolving Credit Loan being requested, and certifying that,
both before and after giving effect to such requested Revolving Credit Loan, no
Default or Event of Default exists or will exist under this Agreement or any other
Loan Document and that, after giving effect to the Requested Revolving Credit Loan
(and all other outstanding Revolving Credit Loans and Letters of Credit), the
Borrower is in compliance with Availability.

(iv) No Lender shall be obligated to fund any Revolving Credit Loan unless:

(a) a Completed Loan Request has been timely received by the Agent as
provided in subsection (i) above; and

(b) both before and after giving effect to the Revolving Credit Loan
to be made pursuant to the Completed Loan Request, all of the conditions
contained in §12 shall have been satisfied as of the Closing Date, with
respect to the initial advance only, and all of the conditions set forth
in §13 shall have been met, including, without limitation, the condition
under §13.1 that there be no Default or Event of Default under this
Agreement.

(v) The Agent will promptly notify each Lender of any Completed Loan Request
and will cause a copy thereof to be delivered to each Lender on the same Business
Day received, or, in the case of a Libor Rate Loan, the next Business Day, in each
case absent circumstances outside of its control.

§2.5. Conversion Options.

(a) The Borrower may elect from time to time to convert any outstanding Revolving Credit Loan
to a Revolving Credit Loan of another Type, provided that (i) subject to the further
proviso at the end of this §2.5(a) and subject to §2.5(b) and §2.5(d), with respect to any
conversion of a Base Rate Loan to a Libor Rate Loan (or a continuation of a Libor Rate Loan, as
provided in §2.5(b)), the Borrower shall give the Agent at least three (3) Business Days’ prior
written notice of such election, which such notice must be received by the Agent by 10:00 a.m. on
any Business Day; and (ii) no Loan may be converted into a Libor Rate Loan when any Default or
Event of Default has occurred and is continuing. All or any part of outstanding Revolving Credit
Loans of any Type may be converted as provided herein, provided that each Conversion
Request relating to the conversion of a Base Rate Loan to a Libor Rate Loan shall be for an amount
equal to $1,000,000 or an integral multiple of $100,000 in excess thereof and shall be irrevocable
by the Borrower.

(b) Any Revolving Credit Loan of any Type may be continued as such upon the expiration of the
Interest Period with respect thereto (i) in the case of Base Rate Loans, automatically and (ii) in
the case of Libor Rate Loans by compliance by the Borrower with the notice provisions contained in
§2.5(a)(i); provided that no Libor Rate Loan may be continued as such when any Default or
Event of Default has occurred and is continuing but shall be automatically converted to a Base Rate
Loan on the last day of the first Interest Period relating thereto ending during the continuance of
any Default or Event of Default. The Borrower shall notify the Agent promptly when any such
automatic conversion contemplated by this §2.5(b) is scheduled to occur.

(c) In the event that the Borrower does not notify the Agent of its election hereunder with
respect to any Revolving Credit Loan in accordance with the terms hereof, such Loan shall be
automatically converted to a Base Rate Loan at the end of the applicable Interest Period.

(d) The Borrower may not request or elect a Libor Rate Loan pursuant to §2.4, elect to convert
a Base Rate Loan to a Libor Rate Loan pursuant to §2.5(a) or elect to continue a Libor Rate Loan
pursuant to §2.5(b) if, after giving effect thereto, there would be greater than seven (7) Libor
Rate Loans then outstanding. Any Loan Request or Conversion Request for a Libor Rate Loan that
would create greater than seven (7) Libor Rate Loans outstanding shall be deemed to be a Loan
Request or Conversion Request for a Base Rate Loan. By way of explanation of the foregoing, in the
event that the Borrower wishes to convert or continue two or more Loans into one Libor Rate Loan on
the same day and for identical Interest Periods (or borrow an additional Revolving Credit Loan
simultaneously with converting or continuing a Revolving Credit Loan for identical Interest
Periods), such Libor Rate Loan shall constitute one single Libor Rate Loan for purposes of this
clause (d).

(e) The Agent will promptly notify each Lender of any Conversion Request received pursuant to
§2.5(a) or continuation pursuant to §2.5(b) in accordance with its customary practices.

§2.6. Funds for Revolving Credit Loans.

(a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio
time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders will make
available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of
such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon
receipt from each Lender of such amount, the Agent will make available to the Borrower the
aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All
such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be
made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received
after such time will be made available by not later than 11:00 a.m. on the next Business Day. The
failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on
any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan
shall not relieve any other Lender from its several obligation hereunder to make available to the
Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no
event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall
any Lender be obligated to fund more than its Commitment Percentage of the requested Revolving
Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

(b) The Agent may, unless notified to the contrary by any Lender prior to a Drawdown Date,
assume that such Lender has made available to the Agent on such Drawdown Date the amount of such
Lender’s Commitment Percentage of the Revolving Credit Loan to be made on such Drawdown Date, and
the Agent may (but it shall not be required to), in reliance upon such assumption, make available
to the Borrower a corresponding amount. If any Lender makes available to the Agent such amount on
a date after such Drawdown Date, such Lender shall pay to the Agent on demand an amount equal to
the product of (i) the average, computed for the period referred to in clause (iii) below, of the
weighted average interest rate paid by the Agent for federal funds acquired by the Agent during
each day included in such period, multiplied by (ii) the amount of such Lender’s Commitment
Percentage of such Revolving Credit Loan, multiplied by (iii) a fraction, the numerator of
which is the number of days that elapsed from and including such Drawdown Date to the date on which
the amount of such Lender’s Commitment Percentage of such Revolving Credit Loan shall become
immediately available to the Agent, and the denominator of which is 365. A statement of the Agent
submitted to such Lender with respect to any amounts owing under this paragraph shall be
prima facie evidence of the amount due and owing to the Agent by such Lender.

§2.7. Reduction of Commitment. The Borrower shall have the right at any time and from
time to time upon five (5) Business Days’ prior written notice to the Agent (with copies to the
Agent for each Lender) to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess
thereof (but not below $20,000,000 or, if greater, the Maximum Drawing Amount) or terminate
entirely the unborrowed portion of the then Total Commitment, whereupon the Commitments of the
Lenders shall be reduced pro rata in accordance with their respective Commitment
Percentages by the amount specified in such notice or, as the case may be, terminated. Upon the
effective date of any such reduction or termination, the Borrower shall pay to the Agent for the
respective accounts of the Lenders all accrued and unpaid interest on the amount of such reduction
and the full amount of the Facility Fee then accrued and unpaid on the amount of the reduction. No
reduction or termination of the Commitments may be reinstated.

§2.8. Increase in Total Commitment. At any time (but at least 60 days prior to the
Maturity Date), the Borrower shall have the right, upon written notice to the Agent and
satisfaction of the Increase Conditions, to cause the Total Commitment to increase by an amount not
at any time exceeding $100,000,000 (the “Increase”), in which event Schedule 2 will be
deemed to be amended to reflect the increased Commitment of each Lender, if any, that has agreed in
writing to an increase and to add any third party financial institution that may have become a
party to, and a “Lender” under, this Agreement in connection with the Increase (and the Agent is
hereby authorized to effect such amendment on behalf of the Lenders and the Borrower);
provided, however, that it shall be a condition precedent to the effectiveness of
the Increase that the Increase Conditions shall have been satisfied. In the event that the
Increase results in any change to the Commitment Percentage of any Lender, then on the effective
date of such Increase in the Total Commitment (i) any new Lender, and any existing Lender whose
Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or
increased Commitment Percentage of all existing Revolving Credit Loans, (ii) the Agent will use the
proceeds thereof to pay to all Lenders whose Commitment Percentage is decreasing such amounts as
are necessary so that each such Lender’s participation in existing Revolving Credit Loans will be
equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in
the Total Commitment occurs on a date other than the last day of an Interest Period applicable to
any outstanding Libor Rate Loan, the Borrower will be responsible for Libor Breakage Costs and any
other amounts payable pursuant to §4.8 on account of the payments made pursuant to clause (ii)
above. No Lender shall have any obligation to increase its Commitment in connection with the
Increase.

§2.9. Extension of Revolving Credit Maturity Date. At least 60 days but in no event
more than 120 days prior to April 26, 2009, the Borrower, by written notice to the Agent (with
copies for each Lender), may request an extension of the Maturity Date by a period of one year from
the Maturity Date then in effect (the “Extension”). The Extension shall become effective on April
26, 2009 so long as (i) the Borrower has paid to the Agent on such date, for the ratable accounts
of the Lenders, an extension fee in an amount equal to 20 basis points on the Total Commitment in
effect on such date, and (ii) no Default or Event of Default has occurred and is continuing on such
date and all representations and warranties contained in the Loan Documents are true and correct as
of such date (except to the extent that such representations and warranties relate expressly to an
earlier date). The notice referred to in the first sentence of this §2.9 shall constitute and
shall be deemed to be a certification by the Borrower as to the truth and accuracy of the
statements contained in clause (ii) of the preceding sentence.

§2.10. Swingline Loans.

(a) Availability. Subject to the terms and conditions of this Agreement and so long
as the Borrower has delivered to the Agent a loan request, including the certificate referred to in
§2.4(iii), as if all references in §2.4(iii) to Revolving Credit Loans were to Swingline Loans, the
Swingline Lender agrees to make Swingline Loans to the Borrower from time to time from the Closing
Date to, but not including, the Swingline Termination Date; provided, that the aggregate
principal amount of all outstanding Swingline Loans (after giving effect to any amount requested)
at any time, shall not exceed the lesser of (i) the Total Commitment in effect at such time
less the sum of (A) all outstanding Revolving Credit Loans at such time (after giving
effect to all amounts requested) and (B) the Maximum Drawing Amount and, (C) without
double-counting the portion, if any, of any Letter of Credit which is drawn and included in the
Revolving Credit Loans or the Maximum Drawing Amount, all outstanding Reimbursement Obligations at
such time, and (ii) the Swingline Commitment at such time. Swingline Loans hereunder may be used
in anticipation of borrowing Revolving Credit Loans and for other short-term requirements and shall
be repaid in accordance with the terms hereof. Each Swingline Loan must be for an amount equal to
at least $1,000,000 and in an integral multiple of $100,000 and shall be evidenced by the Swingline
Note. The Swingline Lender shall initiate the transfer of funds representing the Swingline Loan to
the Borrower by 4:00 p.m. (Cleveland, Ohio time) on the Business Day of the requested borrowing, so
long as the Swingline Loan has been requested by the Borrower no later than 1:00 p.m. (Cleveland,
Ohio time) on such Business Day. In no event shall the number of Swingline Loans outstanding at
any time exceed three (3). All Swingline Loans shall bear interest at the Base Rate plus the
Applicable Base Rate Margin. The Borrower unconditionally promises to pay interest on each
Swingline Loan in arrears on each Interest Payment Date with respect thereto.

(b) Repayment. The Borrower hereby absolutely and unconditionally promises to repay
the outstanding principal amount of each Swingline Loan and all accrued interest and charges
thereon (the “Swingline Loan Amount”) on the earliest to occur of: (i) the fifth (5th)
Business Day after the date on which the Swingline Loan is advanced or (ii) the Swingline
Termination Date; provided, the Borrower shall have the right to prepay Swingline Loans
without penalty or any prepayment charge.

(c) Refunding and Conversion of Swingline Loans to Revolving Credit Loans.

(i) On the Business Day before the maturity of a Swingline Loan (which shall be no longer than
the period for repayment set forth above in §2.10(b)), the Borrower shall notify the Agent if it
intends to request a Base Rate Loan in order to repay such Swingline Loan, or three Business Days
before the maturity of a Swingline Loan (which shall be no longer than the period for repayment set
forth above in §2.10(b)), the Borrower shall notify the Agent if it intends to request a Libor Rate
Loan in order to repay such Swingline Loan. In any event, if any Swingline Loan has not been
repaid by 1:00 p.m. (Cleveland, Ohio time) on the maturity date thereof, the Agent shall promptly
notify the Lenders thereof and the Borrower shall be deemed to have requested on such date a
Revolving Credit Loan comprised solely of a Base Rate Loan in a principal amount equal to the
Swingline Loan Amount in order to repay such Swingline Loan. Such refundings of the Swingline Loan
through the funding of such Revolving Credit Loans shall be made by the Lenders in accordance with
their respective Commitment Percentages and shall thereafter be reflected as Revolving Credit Loans
of the Lenders on the books and records of the Agent.

(ii) If a Default or an Event of Default has occurred and is continuing, all Swingline Loans
shall be refunded by the Lenders on demand by the Swingline Lender, in which case the Borrower
shall be deemed to have requested on such date of demand a Revolving Credit Loan comprised solely
of a Base Rate Loan in a principal amount equal to the Swingline Loan Amount for such Swingline
Loans. Such refundings of the Swingline Loans through the funding of such Revolving Credit Loans
shall be made by the Lenders in accordance with their respective Commitment Percentages and shall
thereafter be reflected as Revolving Credit Loans of the Lenders on the books and records of the
Agent.

(iii) Each Lender shall fund its respective Commitment Percentage of Revolving Credit Loans as
required to so repay Swingline Loans outstanding to the Swingline Lender upon such deemed request
or demand by the Swingline Lender but in no event later than 2:00 p.m. (Cleveland, Ohio time) on
the next succeeding Business Day after such deemed request or demand is made. No Lender’s
obligation to fund its respective Commitment Percentage of the repayment of a Swingline Loan shall
be affected by any other Lender’s failure to fund its Commitment Percentage of such repayment, nor
shall any Lender’s Commitment Percentage be increased as a result of any such failure of any other
Lender to fund its Commitment Percentage. To the extent any Lender does not fund its respective
Commitment Percentage of any Revolving Credit Loan to the Borrower pursuant to this §2.10(c)(iii)
or purchase its undivided participating interest in any Swingline Loan in accordance with
§2.10(c)(v), such Lender shall be deemed a Delinquent Lender and the Borrower shall repay such
amounts to the Swingline Lender in accordance with the provisions of §3.3 as if such Loan were a
Revolving Credit Loan for which a Bank did not remit its share to the Agent. If any portion of any
such amount paid to the Swingline Lender shall be recovered by or on behalf of the Borrower from
the Swingline Lender in bankruptcy or otherwise, the loss of the amount so recovered shall be
ratably shared among all the Lenders.

(iv) If at any time the Borrower receives notice from the Swingline Lender that the aggregate
principal amount of all Revolving Credit Loans outstanding, plus the aggregate principal
amount of all Swingline Loans outstanding (including the Swingline Loan for which demand for
payment is then made by the Swingline Lender pursuant to this subsection), plus the Maximum
Drawing Amount and, plus, without double-counting the portion, if any, of any Letter of
Credit which is drawn and included in the Revolving Credit Loans or the Maximum Drawing Amount, all
outstanding Reimbursement Obligations at such time equals or exceeds the lesser of the Total
Commitment at such time or Availability at such time, the Borrower shall repay the amount of such
excess upon demand by the Swingline Lender, which payment shall be applied first to the Swingline
Loans and then to the Revolving Credit Loans.

(v) Each Lender acknowledges and agrees that its obligation to refund Swingline Loans with
Revolving Credit Loans in accordance with the terms of this §2.10 is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including, in any event, non-satisfaction of
any conditions set forth in this Agreement pertaining to advances of Revolving Credit Loans
hereunder, except to the limited extent expressly referred to in the first sentence of §2.10(a).
Further, each Lender agrees and acknowledges that if, prior to the refunding of any outstanding
Swingline Loans pursuant to this §2.10, one of the events described in §§14.1(g) or (h) shall have
occurred or any of the conditions set forth in §13.2 have not been met, each Lender will, on the
date the applicable Revolving Credit Loan would have been made pursuant to §2.10(c)(i) or (ii),
purchase an undivided participating interest in the Swingline Loan to be refunded in an amount
equal to its Commitment Percentage of such Swingline Loan Amount. Each Lender will immediately
transfer to the Swingline Lender, in immediately available funds, the amount of its participation.
Whenever, at any time after the Swingline Lender has received from any Lender such Lender’s
participating interest in a Swingline Loan, the Swingline Lender receives any payment on account
thereof, the Swingline Lender will distribute to such Lender its participating interest in such
amount (appropriately adjusted, in the case of interest payments, to reflect the period of time
during which such Lender’s participating interest was outstanding and funded).

(vi) Each Lender’s Commitment Percentage applicable to any Swingline Loan shall be identical
to its Commitment Percentage applicable to Revolving Credit Loans.

§3. REPAYMENT OF THE LOANS.

§3.1. Maturity. The Borrower promises to pay on the Maturity Date, and there shall
become absolutely due and payable on the Maturity Date, all unpaid principal of the Revolving
Credit Loans outstanding on such date, together with any and all accrued and unpaid interest
thereon, the unpaid balance of the Facility Fee and the Letter of Credit Fees accrued through such
date, and any and all other unpaid amounts due under this Agreement, the Notes or any other of the
Loan Documents.

§3.2. Optional Repayments of Revolving Credit Loans. The Borrower shall have the
right, at its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or
in part, at any time without penalty or premium; provided that the outstanding amount of
any Libor Rate Loans may not be prepaid on a date other than the last day of an Interest Period
unless the Borrower pays the Libor Breakage Costs for each Libor Rate Loan so prepaid at the time
of such prepayment. The Borrower shall give the Agent (with copies to the Agent for each Lender),
no later than 10:00 a.m., Cleveland, Ohio time, at least two (2) Business Days’ prior written
notice of any prepayment pursuant to this §3.2 of any Base Rate Loans, and at least four (4)
Business Days’ notice of any proposed prepayment pursuant to this §3.2 of Libor Rate Loans,
specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be
prepaid. Each such partial prepayment of the Loans shall be in an amount equal to $1,000,000 or an
integral multiple of $1,000,000 in excess thereof or, if less, the outstanding balance of the
Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if
any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the
principal prepaid to the date of payment, and shall be applied, in the absence of instruction by
the Borrower, first to the principal of Base Rate Loans and then to the principal of Libor Rate
Loans.

§3.3 Mandatory Repayment of Loans. If at any time the sum of the outstanding amount
of the Loans, plus the Maximum Drawing Amount, plus without double counting any
Revolving Credit Loans, the outstanding Reimbursement Obligations, if any, exceeds the lesser of
(i) the Total Commitment at such time, or (ii) the Availability at such time, the Borrower shall
immediately pay to the Agent, for the benefit of the Lenders (including the Swingline Lender), in
an amount in cash necessary to eliminate such excess, such amount to be applied, in the absence of
instruction by the Borrower, (x) first to the repayment of Swingline Loans and second to the
repayment of Revolving Credit Loans and (y) with respect to any such payments of Revolving Credit
Loans, first to the principal of Base Rate Loans and then to the principal of Libor Rate Loans.

§4. CERTAIN GENERAL PROVISIONS.

§4.1. Funds for Payments.

(a) All payments of principal, interest, fees, and any other amounts due hereunder or under
any of the other Loan Documents shall be made to the Agent, for the respective accounts of the
Lenders or (as the case may be) the Agent, at the Agent’s Head Office, in each case in Dollars and
in immediately available funds. The Borrower shall make each payment of principal of and interest
on the Loans and Reimbursement Obligations which are not converted to a Loan hereunder and of fees
hereunder not later than 12:00 p.m. (Cleveland, Ohio time) on the due date thereof.

(b) All payments by the Borrower hereunder and under any of the other Loan Documents shall be
made without setoff or counterclaim and free and clear of and without deduction for any taxes,
levies, imposts, duties, charges, fees, deductions, withholdings, compulsory liens, restrictions or
conditions of any nature now or hereafter imposed or levied by any jurisdiction or any political
subdivision thereof or taxing or other authority therein unless the Borrower is compelled by law to
make such deduction or withholding. If the Borrower is compelled by law to make any such deduction
or withholding with respect to any amount payable by it hereunder or under any of the other Loan
Documents (except with respect to taxes on the income or profits of the Agent or any Lender), the
Borrower shall pay to the Agent, for the account of the Lenders or (as the case may be) the Agent,
on the date on which such amount is due and payable hereunder or under such other Loan Document,
such additional amount in Dollars as shall be necessary to enable the Lenders to receive the same
net amount which the Lenders would have received on such due date had no such deduction or
withholding obligation been imposed upon the Borrower. The Borrower will deliver promptly to the
Agent (with copies to the Agent for each Lender) certificates or other valid vouchers for all taxes
or other charges deducted from or paid with respect to payments made by the Borrower hereunder or
under such other Loan Document.

§4.2. Computations. All computations of interest on Libor Rate Loans and of other
fees to the extent applicable shall be based on a 360-day year and all computations of interest on
Base Rate Loans shall be based on a 365/366 day year, in each case paid for the actual number of
days elapsed. Except as otherwise provided in the definition of the term “Interest Period” with
respect to Libor Rate Loans, whenever a payment hereunder or under any of the other Loan Documents
becomes due on a day that is not a Business Day, the due date for such payment shall be extended to
the next succeeding Business Day, and interest shall accrue during such extension. The outstanding
amount of the Loans as reflected on the Note Records or record attached to any other Note from time
to time shall constitute prima facie evidence of the principal amount thereof.

§4.3. Inability to Determine Libor Rate. In the event, prior to the commencement of
any Interest Period relating to any Libor Rate Loan, the Agent shall determine that adequate and
reasonable methods do not exist for ascertaining the Libor Rate that would otherwise determine the
rate of interest to be applicable to any Libor Rate Loan during any Interest Period, the Agent
shall forthwith give notice of such determination (which shall be conclusive and binding on the
Borrower) to the Borrower and the Lenders. In such event (a) any Loan Request with respect to
Libor Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate
Loans, (b) each Libor Rate Loan will automatically, on the last day of the then current Interest
Period applicable thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make
Libor Rate Loans shall be suspended, in each case unless and until the Agent determines that the
circumstances giving rise to such suspension no longer exist, whereupon the Agent shall so notify
the Borrower and the Lenders.

§4.4. Illegality. Notwithstanding any other provisions herein, if any present or
future law, regulation, treaty or directive or in the interpretation or application thereof shall
make it unlawful for any Lender to make or maintain Libor Rate Loans, such Lender shall forthwith
give notice of such circumstances to the Agent and the Borrower and thereupon (a) the Commitment of
such Lender to make Libor Rate Loans or convert Base Rate Loans to Libor Rate Loans shall forthwith
be suspended and (b) such Lender’s Commitment Percentage of Libor Rate Loans then outstanding shall
be converted automatically to Base Rate Loans on the last day of each Interest Period applicable to
such Libor Rate Loans or within such earlier period as may be required by law, all until such time
as it is no longer unlawful for such Lender to make or maintain Libor Rate Loans. The Borrower
hereby agrees promptly to pay the Agent for the account of such Lender, upon demand, any additional
amounts necessary to compensate such Lender for Libor Breakage Costs incurred by such Lender in
making any conversion required by this §4.4 prior to the last day of an Interest Period.

§4.5. Additional Costs, Etc. If any present or future applicable law, which
expression, as used herein, includes statutes, rules and regulations thereunder and interpretations
thereof by any competent court or by any governmental or other regulatory body or official charged
with the administration or the interpretation thereof and requests, directives, instructions and
notices at any time or from time to time hereafter made upon or otherwise issued to any Lender or
the Agent by any central bank or other fiscal, monetary or other authority (whether or not having
the force of law, but if not having the force of law, then generally applied by the Lenders or the
Agent with respect to similar loans), shall:

(a) subject any Lender or the Agent to any tax, levy, impost, duty, charge, fee, deduction or
withholding of any nature with respect to this Agreement, the other Loan Documents, any Letters of
Credit, such Lender’s Commitment or the Loans (other than taxes based upon or measured by the
income or profits of such Lender or the Agent), or

(b) change the basis of taxation (except for changes in taxes on income or profits) of
payments to any Lender of the principal of or the interest on any Loans or any other amounts
payable to the Agent or any Lender under this Agreement or the other Loan Documents, or

(c) impose or increase or render applicable (other than to the extent specifically provided
for elsewhere in this Agreement) any special deposit, reserve, assessment, liquidity, capital
adequacy or other similar requirements (whether or not having the force of law) against assets held
by, or deposits in or for the account of, or loans by, or letters of credit issued by, or
commitments of an office of any Lender, or

(d) impose on any Lender or the Agent any other conditions or requirements with respect to
this Agreement, the other Loan Documents, the Loans, such Lender’s Commitment, or any class of
loans or commitments of which any of the Loans or such Lender’s Commitment forms a part;

and the result of any of the foregoing is

(i) to increase the cost to any Lender of making, funding, issuing, renewing,
extending or maintaining any of the Loans or such Lender’s Commitment or any Letter
of Credit, or

(ii) to reduce the amount of principal, interest, Reimbursement Obligation or
other amount payable to such Lender or the Agent hereunder on account of such
Lender’s Commitment, any Letter of Credit or any of the Loans, or

(iii) to require such Lender or the Agent to make any payment or to forego any
interest or Reimbursement Obligation or other sum payable hereunder, the amount of
which payment or foregone interest or Reimbursement Obligation or other sum is
calculated by reference to the gross amount of any sum receivable or deemed
received by such Lender or the Agent from the Borrower hereunder,

then, and in each such case, the Borrower will, upon demand made by the Agent or such Lender (such
demand to be made promptly by the Agent or such Lender upon the making of any such determination),
at any time and from time to time and as often as the occasion therefor may arise, pay to such
Lender or the Agent such additional amounts as such Lender or the Agent shall determine in good
faith to be sufficient to compensate such Lender or the Agent for such additional cost, reduction,
payment or foregone interest or other sum, provided that such Lender or the Agent is
generally imposing similar charges on its other similarly situated borrowers. The Agent shall
provide the Borrower with a calculation, in reasonable detail, of such amounts in accordance with
its customary practices.

§4.6. Capital Adequacy. If any future law, governmental rule, regulation, policy,
guideline or directive (whether or not having the force of law, but if not having the force of law,
then generally applied by the Lenders with respect to similar loans) or the interpretation thereof
by a court or governmental authority with appropriate jurisdiction affects the amount of capital
required or expected to be maintained by banks or bank holding companies and any Lender or the
Agent determines that the amount of capital required to be maintained by it is increased by or
based upon the existence of Loans made or deemed to be made pursuant hereto, then such Lender or
the Agent may notify the Borrower of such fact, and the Borrower shall pay to such Lender or the
Agent from time to time, upon demand made by the Agent or such Lender (such demand to be made
promptly by the Agent or such Lender upon the making of any such determination), as an additional
fee payable hereunder, such amount as such Lender or the Agent shall determine reasonably and in
good faith and certify in a notice to the Borrower to be an amount that will adequately compensate
such Lender in light of these circumstances for its increased costs of maintaining such capital.
Each Lender and the Agent shall allocate such cost increases among its customers in good faith and
on an equitable basis, and will not charge the Borrower unless it is generally imposing a similar
charge on its other similarly situated borrowers. The Agent shall provide the Borrower with a
calculation, in reasonable detail, of such amounts in accordance with its customary practices.

§4.7. Certificate; Limitations. A certificate setting forth any additional amounts
payable pursuant to §§4.5 or 4.6 and a brief explanation of such amounts which are due, submitted
by any Lender or the Agent to the Borrower, shall be prima facie evidence that such
amounts are due and owing. Notwithstanding anything to the contrary contained in this Article 4,
to the extent reasonably possible, each Lender shall designate an alternate lending office in the
continental United States to make the Loans in order to reduce any liability of Borrower to such
Lender under §§4.4, 4.5 or 4.6 or to avoid the unavailability of a Libor Rate Loan, so long as such
designation is not disadvantageous to such Lender.

§4.8. Indemnity. In addition to the other provisions of this Agreement regarding such
matters, the Borrower agrees to indemnify the Agent and each Lender and to hold the Agent and each
Lender harmless from and against any loss, cost or expense (including loss of anticipated profits)
that the Agent or such Lender may sustain or incur as a consequence of (a) a default by the
Borrower in the payment of any principal amount of or any interest on any Libor Rate Loans as and
when due and payable, including any such loss or expense arising from interest or fees payable by
the Agent or such Lender to lenders of funds obtained by it in order to maintain its Libor Rate
Loans, (b) the failure by the Borrower to make a borrowing or conversion after the Borrower has
given a Completed Loan Request for a Libor Rate Loan or a Conversion Request for a Libor Rate Loan,
and (c) the making of any payment of a Libor Rate Loan or the making of any conversion of any such
Loan to a Base Rate Loan on a day that is not the last day of the applicable Interest Period with
respect thereto, including interest or fees payable by the Agent or a Lender to lenders of funds
obtained by it in order to maintain any such Libor Rate Loans.

§4.9. Interest on Overdue Amounts; Late Charge. Notwithstanding anything to the
contrary stated herein, upon the occurrence and during the continuance of an Event of Default, at
the option of the Majority Lenders, to the extent permitted by applicable law, the unpaid balance
of all Obligations shall bear interest at the rate otherwise applicable thereto plus 2%,
compounded daily until such Event of Default is cured or waived to the satisfaction of the Agent
and the required Lenders. In addition, the Borrower shall pay a late charge equal to five percent
(5%) of any amount of interest charges on the Loans which is not paid within ten (10) days of the
date when due.

§5. LETTERS OF CREDIT.

§5.1. Letter of Credit Commitments.

§5.1.1. Commitment to Issue Letters of Credit. Subject to the terms and conditions
set forth in this Agreement, at any time and from time to time from the Closing Date through the
day that is one-hundred twenty (120) days prior to the Maturity Date, the Fronting Bank shall issue
such Letters of Credit as the Borrower may request upon the delivery of a written request on the
Fronting Bank’s customary form as part of a Completed Loan Request (a “Letter of Credit
Application”). Subject to the terms and conditions set forth in this Agreement, the Fronting Bank
on behalf of the Lenders and in reliance upon the agreement of the Lenders set forth in §5.1.4 and
upon the representations and warranties of the Borrower contained herein, agrees, in its individual
capacity, to issue, extend and renew for the account of the Borrower one or more standby letters of
credit (individually, a “Letter of Credit”), in such form as may be requested from time to time by
the Borrower and agreed to by the Fronting Bank; provided, however, that, after
giving effect to such Completed Loan Request, (a) the Maximum Drawing Amount plus all Reimbursement
Obligations (to the extent, if any, not yet deemed a Revolving Credit Loan pursuant to §5.3), shall
not exceed $15,000,000 at any one time and (b) the sum of (i) the Maximum Drawing Amount and,
without double counting, all Reimbursement Obligations (to the extent, if any, not yet deemed a
Revolving Credit Loan pursuant to §5.3) and (ii) the amount of all Loans outstanding shall not
exceed the lesser of (x) the Total Commitment in effect at such time and (y) the Availability at
such time.

Each Letter of Credit Application shall be executed by an officer of Borrower. The Fronting
Bank shall be entitled to conclusively rely on such Person’s authority to request a Letter of
Credit on behalf of Borrower. The Fronting Bank shall have no duty to verify the authenticity of
any signature appearing on a Letter of Credit Request. The Borrower assumes all risks with respect
to the use of the Letters of Credit. Unless the Fronting Bank and the Majority Lenders otherwise
consent, the term of any Letter of Credit shall not exceed a period of time commencing on the
issuance of the Letter of Credit and ending on the date which is one year thereafter and shall not
expire on a date later than sixty (60) days prior to the Maturity Date (but in any event the term
shall not extend beyond the Maturity Date). As of any applicable date of determination, the amount
available to be drawn under any Letter of Credit shall reduce on a dollar-for-dollar basis the
amount available to be drawn under the Total Commitment as a Loan. Each Letter of Credit
Application shall be submitted to the Fronting Bank at least ten (10) Business Days (or such
shorter period as the Fronting Bank may approve) prior to the date upon which the requested Letter
of Credit is to be issued. Each such Letter of Credit Application shall contain (i) a statement as
to the purpose for which such Letter of Credit shall be used (which purpose shall be in accordance
with the terms of this Agreement), and (ii) a certification by the chief financial or chief
accounting officer of Borrower that the Borrower is and will be in compliance with all covenants
under the Loan Documents after giving effect to the issuance of such Letter of Credit. The
Borrower shall further deliver to the Fronting Bank such additional applications and documents as
the Fronting Bank may require, in conformity with the then standard practices of its letter of
credit department, in connection with the issuance of such Letter of Credit; provided that in the
event of any conflict, the terms of this Agreement shall control. The Fronting Bank shall, if it
approves of the content of the Letter of Credit request (which approval shall not be unreasonably
withheld), and subject to the conditions set forth in this Agreement, issue the Letter of Credit on
or before ten (10) Business Days following receipt of the documents last due pursuant to §2.10(b).
Each Letter of Credit shall be in form and substance reasonably satisfactory to the Fronting Bank
in its reasonable discretion. Upon issuance of a Letter of Credit, the Fronting Bank shall provide
notice of the issuance of such Letter of Credit to the Lenders and shall provide a copy of such
Letter of Credit to any Lender that requests a copy. Upon the issuance of a Letter of Credit, each
Revolving Credit Lender shall be deemed to have purchased a participation therein from Fronting
Bank in an amount equal to its respective Commitment Percentage of the amount of such Letter of
Credit. No Lender’s obligation to participate in a Letter of Credit shall be affected by any other
Lender’s failure to perform as required herein with respect to such Letter of Credit or any other
Letter of Credit. The issuance of any supplement, modification, amendment, renewal or extension to
or of any Letter of Credit shall be treated in all respects the same as the issuance of a new
Letter of Credit.

§5.1.2. Letter of Credit Applications. Each Letter of Credit Application shall be
completed to the satisfaction of the Agent and the Fronting Bank.

§5.1.3. Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed
hereunder shall, among other things, (i) provide for the payment of sight drafts for honor
thereunder when presented in accordance with the terms thereof and when accompanied by the
documents described therein, and (ii) without limitation of §5.1.1, shall have an expiry date no
later than one year after its issuance. Each Letter of Credit so issued, extended or renewed shall
be subject to the rules of the ISP.

§5.1.4. Obligations of Lenders with respect to Letters of Credit. Each Lender
severally agrees that it shall be absolutely liable, without regard to the occurrence of any
Default or Event of Default or any other condition precedent whatsoever, to the extent of such
Lender’s Commitment Percentage, to reimburse the Fronting Bank on demand for the amount of each
draft paid by the Fronting Bank under each Letter of Credit (such agreement for a Lender being
called herein the “Letter of Credit Participation” of such Lender). Each such payment made by a
Lender shall be treated as a purchase by such Lender of a participation in the Fronting Bank’s
interest in such Letter of Credit and each Lender shall share, in accordance with its respective
Commitment Percentage, in any interest (but not any fee payable solely for the account of the
Fronting Bank) which accrues and is payable by the Borrower pursuant to §5.2 or otherwise in
connection with such Letter of Credit.

§5.2. Reimbursement Obligation of the Borrower. In order to induce the Fronting Bank
to issue, extend and renew each Letter of Credit and the Lenders to participate therein, the
Borrower hereby agrees to reimburse or pay to the Fronting Bank, for the account of the Fronting
Bank or (as the case may be) the Lenders, with respect to each Letter of Credit issued, extended or
renewed by the Fronting Bank hereunder,

(a) promptly upon notification by the Fronting Bank or the Agent that any draft presented
under such Letter of Credit is honored by the Fronting Bank, or the Fronting Bank otherwise makes a
payment with respect thereto, (i) the amount paid by the Fronting Bank under or with respect to
such Letter of Credit, and (ii) any amounts payable pursuant to §5.5 under, or with respect to,
such Letter of Credit, and

(b) upon the termination of the Total Commitment, or the acceleration of the Reimbursement
Obligations with respect to all Letters of Credit in accordance with §14, an amount equal to the
then Maximum Drawing Amount on all Letters of Credit, which amount shall be held by the Agent in an
interest-bearing account (with interest to be added to such account) as cash collateral for the
benefit of the Lenders and the Agent for all Reimbursement Obligations. Upon the expiration,
termination or surrender without draw of any Letter of Credit, the Agent shall release to the
Borrower the cash collateral amount applicable to such Letter of Credit.

Each such payment shall be made to the Agent for the benefit of the Fronting Bank or the
Lenders, as applicable, at the Agent’s Head Office in immediately available funds. Interest on any
and all amounts not converted to a Revolving Credit Loan pursuant to §5.3 and remaining unpaid by
the Borrower under this §5.2 at any time from the date such amounts become due and payable (whether
as stated in this §5.2, by acceleration or otherwise) until payment in full (whether before or
after judgment) shall be payable to the Agent for the benefit of the Lenders on demand at the rate
specified in §4.9 for overdue principal on the Loans.

§5.3. Letter of Credit Payments; Funding of a Loan. If any draft shall be presented
or other demand for payment shall be made under any Letter of Credit, the Fronting Bank will use
its reasonable efforts to notify the Borrower and the Lenders, on or before the date the Fronting
Bank intends to honor such drawing, of the date and amount of the draft presented or demand for
payment and of the date and time when it expects to pay such draft or honor such demand for payment
and, except to the extent the amount of such draft becomes a Revolving Credit Loan as set forth in
this §5.3, Borrower shall reimburse Agent, as set forth in §5.2. Notwithstanding anything
contained in §5.2 or this §5.3 to the contrary, however, unless Borrower shall have notified the
Agent and Fronting Bank prior to 11:00 a.m. (Cleveland, Ohio time) on the Business Day immediately
prior to the date of such drawing that Borrower intends to reimburse Fronting Bank for the amount
of such drawing with funds other than the proceeds of Revolving Credit Loans, Borrower shall be
deemed to have timely given a Completed Loan Request pursuant to §2.4 to Agent, requesting a Base
Rate Loan on the date on which such drawing is honored and in an amount equal to the amount of such
drawing. The Borrower may thereafter convert any such Base Rate Loan to a Revolving Credit Loan of
another Type in accordance with §2.5. Each Lender shall, in accordance with §2.6, make available
such Lender’s Commitment Percentage of such Revolving Credit Loan to Agent, the proceeds of which
shall be applied directly by Agent to reimburse Fronting Bank for the amount of such draw. In the
event that any Lender fails to make available to Agent the amount of such Lender’s Commitment
Percentage of such Revolving Credit Loan on the date of any drawing, Agent shall be entitled to
recover such amount on demand from such Lender plus any additional amounts payable under §2.6(b) in
the event of a late funding by a Lender. Further, such Lender shall be deemed to have assigned any
and all payments made of principal and interest on its Loans, amounts due with respect to its
participations in Letters of Credit and any other amounts due to it hereunder to the Agent to fund
the amount of any drawn Letter of Credit which such Lender was required to fund pursuant to this
section until such amount has been funded (as a result of such assignment or otherwise). If after
the issuance of a Letter of Credit by the Fronting Bank, but prior to the funding of any portion
thereof by a Lender, one of the events described in §14.1(g) or (h) shall have occurred or any of
the conditions set forth in §13.2 have not been met, each Lender will, on the date such Revolving
Credit Loan would otherwise be required to be made, purchase an undivided participation interest in
the Letter of Credit in an amount equal to its Commitment Percentage of the amount of such Letter
of Credit. Each Lender will immediately transfer to the Fronting Bank in immediately available
funds the amount of its participation and upon receipt thereof the Fronting Bank will deliver to
such Lender a Letter of Credit participation certificate dated the date of receipt of such funds
and in such amount. The Fronting Bank is irrevocably authorized by the Borrower and each of the
Lenders to honor draws on each Letter of Credit by the beneficiary thereof in accordance with the
terms of such Letter of Credit. The responsibility of the Fronting Bank to the Borrower and the
Lenders shall be only to determine that the documents (including each draft) delivered under each
Letter of Credit in connection with such presentment shall be in conformity in all material
respects with such Letter of Credit in accordance with the Fronting Bank’s customary practices.

§5.4. Obligations Absolute. The obligations of the Borrower to the Lenders under this
Agreement with respect to Letters of Credit shall be absolute, unconditional and irrevocable, and
shall be paid and performed strictly in accordance with the terms of this Agreement, under all
circumstances whatsoever, including, without limitation, the following circumstances: (i) any
improper use which may be made of any Letter of Credit or any improper acts or omissions of any
beneficiary or transferee of any Letter of Credit in connection therewith; (ii) the existence of
any claim, set-off, defense or any right which the Borrower may have at any time against any
beneficiary or any transferee of any Letter of Credit (or persons or entities for whom any such
beneficiary or any such transferee may be acting) or the Lenders (other than the defense of payment
to the Lenders in accordance with the terms of this Agreement) or any other person, whether in
connection with any Letter of Credit, this Agreement, any other Loan Document, or any unrelated
transaction; (iii) any statement or any other documents presented under any Letter of Credit
proving to be insufficient, forged, fraudulent or invalid in any respect or any statement therein
being untrue or inaccurate in any respect whatsoever; (iv) any breach of any agreement between
Borrower and any beneficiary or transferee of any Letter of Credit; (v) any irregularity in the
transaction with respect to which any Letter of Credit is issued, including any fraud by the
beneficiary or any transferee of such Letter of Credit; (vi) payment by the Fronting Bank under any
Letter of Credit against presentation of a sight draft or a certificate which does not comply with
the terms of such Letter of Credit, provided that such payment shall not have constituted gross
negligence or willful misconduct on the part of the Fronting Bank as determined by a court of
competent jurisdiction after the exhaustion of all applicable appeal periods, and (vii) any other
circumstance or happening whatsoever, whether or not similar to any of the foregoing, provided that
such other circumstances or happenings shall not have been the result of gross negligence or
willful misconduct on the part of the Fronting Bank as determined by a court of competent
jurisdiction after the exhaustion of all applicable appeal periods. Borrower assumes all risks of
the acts, omissions, or misuse of any Letter of Credit by the beneficiary thereof. Neither Agent,
Fronting Bank nor any Lender will be responsible for (i) the form, validity, sufficiency, accuracy,
genuineness or legal effect of any Letter of Credit or any document submitted by any party in
connection with the issuance of any Letter of Credit, even if such document should in fact prove to
be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (ii) the form,
validity, sufficiency, accuracy, genuineness or legal effect of any instrument transferring or
assigning or purporting to transfer or assign any Letter of Credit or the rights or benefits
thereunder or proceeds thereof in whole or in part, which may prove to be invalid or ineffective
for any reason; (iii) failure of any beneficiary of any Letter of Credit to comply fully with the
conditions required in order to demand payment under a Letter of Credit; (iv) errors, omissions,
interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph,
telex or otherwise; (v) errors in interpretation of technical terms; (vi) any loss or delay in the
transmission or otherwise of any document or draft required by or from a beneficiary in order to
make a disbursement under a Letter of Credit or the proceeds thereof; (vii) for the misapplication
by the beneficiary of any Letter of Credit of the proceeds of any drawing under such Letter of
Credit; and (viii) for any consequences arising from causes beyond the control of Agent or any
Lender. None of the foregoing will affect, impair or prevent the vesting of any of the rights or
powers granted to Agent, Fronting Bank or the Lenders hereunder. In furtherance and extension and
not in limitation or derogation of any of the foregoing, any act taken or omitted to be taken by
Agent, Fronting Bank or the other Lenders in good faith will be binding on Borrower and will not
put Agent, Fronting Bank or the other Lenders under any resulting liability to Borrower.

§5.5. Reliance by Issuer. The Fronting Bank and the Agent shall be entitled to rely,
and shall be fully protected in relying upon, any Letter of Credit, draft, writing, resolution,
notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype
message, statement, order or other document believed by it to be genuine and correct and to have
been signed, sent or made by the proper Person or Persons and upon advice and statements of legal
counsel, independent accountants and other experts selected by the Fronting Bank or the Agent. The
Agent and the Fronting Bank shall be fully justified in failing or refusing to take any action
under this §5 (other than the issuance of a Letter of Credit pursuant to a Letter of Credit
Application and otherwise in accordance with the terms of this Agreement) unless it shall first
have received such advice or concurrence of the Majority Lenders (or such other number or
percentage of the Lenders as may be required by this Agreement) as it reasonably deems appropriate
or it shall first be indemnified to its reasonable satisfaction by the Lenders against any and all
liability and expense which may be incurred by it by reason of taking or continuing to take any
such action. The Agent and any Fronting Bank shall in all cases be fully protected by the Lenders
in acting, or in refraining from acting, under this §5 in accordance with a request of the Majority
Lenders (or such other number or percentage of the Lenders as may be required by this Agreement),
and such request and any action taken or failure to act pursuant thereto shall be binding upon the
Lenders and all future holders of the Notes or of a Letter of Credit Participation.

§6. RECOURSE OBLIGATIONS. The Obligations are full recourse obligations of the
Borrower, and all of the respective assets and properties of the Borrower shall be available for
the payment in full in cash and performance of the Obligations. The obligations of the Trust under
the Guaranty are full recourse obligations of the Trust, and all of the respective assets and
properties of the Trust shall be available for the payment in full in cash and performance thereof.

§7. REPRESENTATIONS AND WARRANTIES. The Borrower and the Trust, on their own behalf
and on behalf of their respective Subsidiaries, jointly and severally represent and warrant to the
Agent and the Lenders all of the statements contained in this §7.

§7.1. Authority, Etc.

(a) Organization: Good Standing.

(i) FPLP is a limited partnership duly organized, validly existing
and in good standing under the laws of its state of organization; FPLP has
all requisite limited partnership power to own its properties and conduct
its business as now conducted and as presently contemplated; and FPLP is
in good standing as a foreign entity and is duly authorized to do business
in the jurisdictions where the Eligible Unencumbered Properties owned by
it are located and in each other jurisdiction where such qualification is
necessary except where a failure to be so qualified would not have a
materially adverse effect on its business, operations, assets, condition
(financial or otherwise) or properties. Each Borrower (other than FPLP)
is a limited partnership, general partnership, nominee trust or limited
liability company, as the case may be, duly organized, validly existing
and in good standing under the laws of its state of organization; each
such Borrower has all requisite limited partnership, general partnership,
trust, limited liability company or corporate, as the case may be, power
to own its respective properties and conduct its respective business as
now conducted and as presently contemplated; and each such Borrower is in
good standing as a foreign entity and is duly authorized to do business in
the jurisdictions where the Eligible Unencumbered Properties owned by it
are located and in each other jurisdiction where such qualification is
necessary except where a failure to be so qualified in such other
jurisdiction would not have a materially adverse effect on the business,
operations, assets, condition (financial or otherwise) or properties of
such Borrower.

(ii) the Trust is a corporation duly organized, validly existing and
in good standing under the laws of the State of Maryland; each Subsidiary
of the Trust is duly organized, validly existing and in good standing as a
corporation, nominee trust, limited liability company, limited partnership
or general partnership, as the case may be, under the laws of the state of
its organization; the Trust and each of its Subsidiaries has all requisite
corporate, trust, limited liability company, limited partnership or
general partnership, as the case may be, power to own its respective
properties and conduct its respective business as now conducted and as
presently contemplated; and the Trust is in good standing as a foreign
entity and is duly authorized to do business in the jurisdictions where
such qualification is necessary, except where a failure to be so qualified
in such other would not have a materially adverse effect on the business,
operations, assets, condition (financial or otherwise) or properties of
the Trust or any such Subsidiary.

(b) Capitalization. The outstanding equity of FPLP is comprised of a general partner
interest and limited partner interests, all of which have been duly issued and are outstanding and
fully paid and non-assessable. All of the issued and outstanding general partner interests of FPLP
are owned and held of record by the Trust. There are no outstanding securities or agreements
exchangeable for or convertible into or carrying any rights to acquire a general partner interest
in FPLP. There are no outstanding commitments, options, warrants, calls or other agreements
(whether written or oral) binding on FPLP or the Trust which require or could require FPLP or the
Trust to sell, grant, transfer, assign, mortgage, pledge or otherwise dispose of any general
partner interest in FPLP. Except as set forth in the Agreement of Limited Partnership of FPLP, no
general partner interests of FPLP are subject to any restrictions on transfer or any partner
agreements, voting agreements, trust deeds, irrevocable proxies; or any other similar agreements or
interests (whether written or oral). For so long as any Borrower which is a Wholly-owned
Subsidiary of FPLP is a Borrower, FPLP owns, directly or indirectly, 100% (by number of votes or
controlling interests) of the outstanding voting interests and of the economic interests in each
such Borrower. All of the issued and outstanding equity interests of each Borrower other than FPLP
are owned and held of record by the Persons set forth on Schedule 7.1(b) attached hereto,
and all of such equity interests have been duly issued and are outstanding and fully paid and
non-assessable. There are no outstanding securities or agreements exchangeable for or convertible
into or carrying any rights to acquire any equity interests in any Borrower (other than FPLP).
There are no outstanding commitments, options, warrants, calls or other agreements (whether written
or oral) binding on any Borrower (other than FPLP) which require or could require any Borrower
(other than FPLP) to sell, grant, transfer, assign, mortgage, pledge or otherwise dispose of any
equity interest in such Borrower. Except as disclosed on Schedule 7.1(b) attached hereto,
no equity interests of any Borrower (other than FPLP) are subject to any restrictions on transfer
or any partner agreements, voting agreements, trust deeds, irrevocable proxies; or any other
similar agreements or interests (whether written or oral). All of the Preferred Equity which exists
as of the date of this Agreement, and each of the agreements or other documents entered into and/or
setting forth the terms, rights and restrictions applicable to any such Preferred Equity, are
listed and described on Schedule 7.1(b) attached hereto. All of the agreements and other
documents relating to the Preferred Equity in effect on the Closing Date have been furnished to the
Agent.

(c) Due Authorization. The execution, delivery and performance of this Agreement and
the other Loan Documents to which the Borrower or the Trust is or is to become a party and the
transactions contemplated hereby and thereby (i) are within the authority of the Borrower and the
Trust, (ii) have been duly authorized by all necessary proceedings on the part of the Borrower or
the Trust and any general partner thereof, (iii) do not conflict with or result in any breach or
contravention of any provision of law, statute, rule or regulation to which the Borrower or the
Trust is subject or any judgment, order, writ, injunction, license or permit applicable to the
Borrower or the Trust, (iv) do not conflict with any provision of the Organizational Documents of
the Borrower or the Trust or any general partner thereof, and (v) do not contravene any provisions
of, or constitute Default or Event of Default hereunder or a failure to comply with any term,
condition or provision of, any other agreement, instrument, judgment, order, decree, permit,
license or undertaking binding upon or applicable to the Borrower or the Trust or any of the
Borrower’s or the Trust’s properties (except for any such failure to comply under any such other
agreement, instrument, judgment, order, decree, permit, license, or undertaking as would not
materially and adversely affect the business, operations, assets, condition (financial or
otherwise) or properties of the Trust, FPLP or any other member of the Potomac Group) or result in
the creation of any mortgage, pledge, security interest, lien, encumbrance or charge upon any of
the properties or assets of the Borrower or the Trust.

(d) Enforceability. Each of the Loan Documents to which the Borrower or the Trust is
a party has been duly executed and delivered and constitutes the legal, valid and binding
obligations of the Borrower and the Trust, as the case may be, subject only to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally
the enforcement of creditors’ rights.

§7.2. Governmental Approvals. The execution, delivery and performance by the Borrower
and the Trust of this Agreement and the other Loan Documents to which the Borrower or the Trust is
or is to become a party and the transactions contemplated hereby and thereby do not require (i) the
approval or consent of any governmental agency or authority other than those already obtained and
delivered to the Agent, or (ii) filing with any governmental agency or authority, other than
filings which will be made with the SEC when and as required by law or deemed appropriate by the
Trust.

§7.3. Title to Properties; Leases.

The Borrower and the Trust each has good fee to all of its respective properties, assets and
rights of every name and nature purported to be owned by it, including, without limitation, that:

(a) The Borrower holds good and clear record and marketable fee simple title to the Eligible
Unencumbered Properties and all assets or properties relating thereto, subject to no Liens other
than Permitted Liens.

(b) The Borrower and the Trust will, as of the Closing Date, own all of the assets as
reflected in the financial statements of the Borrower and the Trust described in §7.4, or acquired
since the date of such financial statements (except property and assets sold or otherwise disposed
of in the ordinary course of business since that date).

(c) Each of the direct or indirect interests of the Borrower in any Partially-Owned Entity is
set forth on Schedule 7.3(c) attached hereto, including the type of entity in which the interest is
held, the percentage interest owned by the Borrower in such entity, the capacity in which the
Borrower holds the interest, and the Borrower’s ownership interest therein.

§7.4. Financial Statements. The Borrower has furnished to each of the Lenders the
audited consolidated balance sheet of the Trust and its Subsidiaries as of December 31, 2005, and
the related audited consolidated statements of income, changes in shareholder’s equity and cash
flows for the year then ended (the “Initial Financials”). Such Initial Financials have been
prepared in accordance with GAAP and accompanied by an auditors’ report prepared without
qualification by the Accountants. The Initial Financials fairly present the financial condition of
the Trust and its Subsidiaries as at the close of business on the date thereof and the results of
operations for the fiscal year then ended. There are no contingent liabilities of the Trust or any
of its Subsidiaries as of such date known to the officers of the Trust or any of its Subsidiaries
not disclosed in the Initial Financials.

§7.5 No Material Changes, Etc. Since the Financial Statement Date, there has occurred
no materially adverse change in the business, operations, assets, condition (financial or
otherwise) or properties of the Trust, FPLP or any other member of the Potomac Group. Since the
Financial Statement Date and the Closing Date (or such later date upon which a Real Estate Asset
became part of the Unencumbered Pool), there has been no material adverse change to the Net
Operating Income of any Real Estate Asset that is part of the Unencumbered Pool.

§7.6. Franchises, Patents, Copyrights, Etc. The Borrower, the Trust and each of their
respective Subsidiaries possess all franchises, patents, copyrights, trademarks, trade names,
licenses and permits, and rights in respect of the foregoing, adequate for the conduct of their
respective businesses substantially as now conducted without known conflict with any rights of
others, except where the failure to so possess could not reasonably be expected to have a material
adverse effect on the business, operations, assets, condition (financial or otherwise) or
properties of the Trust, FPLP or any other member of the Potomac Group. The Borrower, the Trust
and each of their respective Subsidiaries possess all material Permits relating to each of the
Unencumbered Assets comprising part of the Unencumbered Pool. FPLP is pre-approved as a landlord
for the United States government by the General Services Administration as part of the General
Services Administration’s Advanced Acquisition Program (the “AAP Qualification”).

§7.7 Litigation. Except as disclosed on Schedule 7.7, there are no actions,
suits, proceedings or investigations of any kind pending or, to the Borrower’s or the Trust’s
knowledge, threatened against the Borrower, the Trust or any of their respective Subsidiaries
before any court, tribunal or administrative agency or board that, if adversely determined, could
reasonably be expected to, either individually or in the aggregate, materially adversely affect the
business, operations, assets, condition (financial or otherwise) or properties of the Trust, FPLP
or any other member of the Potomac Group, or materially impair the right of the Trust, FPLP or any
other member of the Potomac Group, to carry on its businesses substantially as now conducted by it,
or result in any substantial liability not fully covered by insurance, or for which adequate
reserves are not maintained, as reflected in the applicable consolidated financial statements or
SEC Filings of the Borrower and the Trust, or which question the validity of this Agreement or any
of the other Loan Documents, or any action taken or to be taken pursuant hereto or thereto.

§7.8. No Materially Adverse Contracts, Etc. Neither the Borrower, the Trust nor any
of their respective Subsidiaries is subject to any charter, corporate, partnership or other legal
restriction, or any judgment, decree, order, rule or regulation that has or could reasonably
expected in the future to have a materially adverse effect on the business, operations, assets,
condition (financial or otherwise) or properties of the Trust, FPLP or any other member of the
Potomac Group. None of the Borrower, the Trust or any of their respective Subsidiaries is a party
to any contract or agreement that has had, or could reasonably be expected to have, any materially
adverse effect on the business, operations, assets, condition (financial or otherwise) or
properties of the Trust, FPLP or any other member of the Potomac Group.

§7.9. Compliance With Other Instruments, Laws, Etc. Neither the Borrower, the Trust
nor any of their respective Subsidiaries is in violation of any provision of its partnership
agreement, charter or other Organizational Document, as the case may be, or any agreement or
instrument to which it may be subject or by which it or any of its properties may be bound or any
decree, order, judgment, statute, license, rule or regulation, in any of the foregoing cases in a
manner that could reasonably be expected to result, individually or in the aggregate, in the
imposition of substantial penalties or materially and adversely affect the business, operations,
assets, condition (financial or otherwise) or properties of the Trust, FPLP or any other member of
the Potomac Group.

§7.10. Tax Status. (i) Each of the Borrower, the Trust and their respective
Subsidiaries (a) has made or filed all federal, state and local income and all other tax returns,
reports and declarations required by any jurisdiction to which it is subject, (b) has paid all
taxes and other governmental assessments and charges shown or determined to be due on such returns,
reports and declarations, except those being contested in good faith and by appropriate
proceedings, and (c) has set aside on its books provisions reasonably adequate for the payment of
all taxes for periods subsequent to the periods to which such returns, reports or declarations
apply, and (ii) there are no unpaid taxes claimed to be due by the taxing authority of any
jurisdiction, and the respective officers of the Borrower and the Trust and their respective
Subsidiaries know of no basis for any such claim.

§7.11 No Event of Default. No Default or Event of Default has occurred and is
continuing.

§7.12. Investment Company Acts. None of the Borrower, the Trust or any of their
respective Subsidiaries is an “investment company”, or an “affiliated company” or a “principal
underwriter” of an “investment company”, as such terms are defined in the Investment Company Act of
1940.

§7.13. Name; Jurisdiction of Organization; Absence of UCC Financing Statements, Etc.
The exact legal name of the Borrower and the Trust, and their respective jurisdictions of
organization, are set forth on Schedule 7.13 attached hereto. Except for Permitted Liens,
there is no financing statement, security agreement, chattel mortgage, real estate mortgage,
equipment lease, financing lease, option, encumbrance or other document filed or recorded with any
filing records, registry, or other public office, that purports to cover, affect or give notice of
any present or possible future lien or encumbrance on, or security interest in, any Eligible
Unencumbered Property. Neither the Borrower nor the Trust has pledged or granted any lien on or
security interest in or otherwise encumbered or transferred any of their respective interests in
any Subsidiary (including in the case of the Trust, its interests in FPLP).

§7.14. Absence of Liens. The Borrower is the owner of the Eligible Unencumbered
Properties free from any Lien, except for Permitted Liens.

§7.15. Certain Transactions. Except as set forth on Schedule 7.15, none of
the officers, partners, directors, or employees of the Trust, the Borrower or any of their
Subsidiaries is presently a party to any transaction with the Borrower, the Trust or any of their
respective Subsidiaries (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by,
providing for rental of real or personal property to or from, or otherwise requiring payments to or
from any officer, partner, director or such employee or, to the knowledge of the Borrower or the
Trust, any corporation, partnership, trust or other entity in which any officer, partner, director,
or any such employee or natural Person related to such officer, partner, director or employee or
other Person in which such officer, partner, director or employee has a direct or indirect
beneficial interest has a substantial interest or is an officer, director, trustee or partner.

§7.16. Employee Benefit Plans; Multiemployer Plans; Guaranteed Pension Plans. Except
as disclosed in the SEC Filings or on Schedule 7.16, none of the Borrower, the Trust nor
any ERISA Affiliate maintains or contributes to any Employee Benefit Plan, Multiemployer Plan or
Guaranteed Pension Plan.

§7.17. Regulations U and X. No portion of any Loan is to be used, and no portion of
any Letter of Credit is to be obtained, for the purpose of purchasing or carrying any “margin
security” or “margin stock” as such terms are used in Regulations U and X of the Board of Governors
of the Federal Reserve System, 12 C.F.R. Parts 221 and 224.

§7.18. Environmental Compliance. The Borrower has caused Phase I and other
environmental assessments or similar assessments (collectively, the “Environmental Reports”) to be
conducted to investigate the past and present environmental condition and usage of the Real Estate
Assets, true and complete copies of which have been delivered to the Agent. To the Borrower’s
knowledge, except as otherwise expressly specified in the Environmental Reports, the Borrower makes
the following representations and warranties:

(a) None of the Borrower, its Subsidiaries, the Trust or any operator of the Real Estate
Assets or any portion thereof, or any operations thereon is in violation, or alleged violation, of
any judgment, decree, order, law, license, rule or regulation pertaining to environmental matters,
including without limitation, those arising under the Resource Conservation and Recovery Act
(“RCRA”), the Comprehensive Environmental Response, Compensation and Liability Act of 1980 as
amended (“CERCLA”), the Superfund Amendments and Reauthorization Act of 1986 (“SARA”), the Federal
Clean Water Act, the Federal Clean Air Act, the Toxic Substances Control Act, or any state or local
statute, regulation, ordinance, order or decree relating to health, safety or the environment
(hereinafter “Environmental Laws”), which violation or alleged violation has, or its remediation
would have, by itself or when aggregated with all such other violations or alleged violations, a
material adverse effect on the business, operations, assets, condition (financial or otherwise),
properties or prospects of the Trust, FPLP or any other member of the Potomac Group, or constitutes
a Disqualifying Environmental Event with respect to any of the Eligible Unencumbered Properties.

(b) None of the Borrower, the Trust or any of their respective Subsidiaries has received
written notice from any third party, including, without limitation, any federal, state or local
governmental authority, (i) that it has been identified by the United States Environmental
Protection Agency (“EPA) as a potentially responsible party under CERCLA with respect to a site
listed on the National Priorities List, 40 C.F.R. Part 300 Appendix B (1986), (ii) that any
hazardous waste, as defined by 42 U.S.C. § 9601(5), any hazardous substances as defined by 42
U.S.C. § 9601(14), any pollutant or contaminant as defined by 42 U.S.C. §9601(33) or any toxic
substances, oil or hazardous materials or other chemicals or substances regulated by any
Environmental Laws (“Hazardous Substances”) which it has generated, transported or disposed of have
been found at any site at which a federal, state or local agency or other third party has conducted
or has ordered that the Borrower, the Trust or any of their respective Subsidiaries conduct a
remedial investigation, removal or other response action pursuant to any Environmental Law, or
(iii) that it is or shall be a named party to any claim, action, cause of action, complaint, or
legal or administrative proceeding (in each case, contingent or otherwise) arising out of any third
party’s incurrence of costs, expenses, losses or damages of any kind whatsoever in connection with
the release of Hazardous Substances, which event described in any such notice would have a material
adverse effect on the business, operations, assets, condition (financial or otherwise), properties
or prospects of the Trust, FPLP or any other member of the Potomac Group, or constitutes a
Disqualifying Environmental Event with respect to any of the Eligible Unencumbered Properties.

(c) (i) No portion of the Real Estate Assets has been used for the handling, processing,
storage or disposal of Hazardous Substances except in accordance with applicable Environmental
Laws; and no underground tank or other underground storage receptacle for Hazardous Substances is
located on any portion of any Real Estate Assets except in accordance with applicable Environmental
Laws, (ii) in the course of any activities conducted by the Borrower, the Trust, their respective
Subsidiaries or the operators of their respective properties or any ground or space tenants on any
Real Estate Asset, no Hazardous Substances have been generated or are being used on such Real
Estate Asset except in accordance with applicable Environmental Laws, (iii) there has been no
present or past releasing, spilling, leaking, pumping, pouring, emitting, emptying, discharging,
injecting, escaping, disposing or dumping (a “Release”) or threatened Release of Hazardous
Substances on, upon, into or from the Real Estate Assets in violation of applicable Environmental
Laws, (iv) there have been no Releases in violation of applicable Environmental Laws upon, from or
into any real property in the vicinity of any of the Real Estate Assets which, through soil or
groundwater contamination, may have come to be located on such Real Estate Asset, and (v) to the
best of Borrower’s Knowledge, any Hazardous Substances that have been generated on any of the Real
Estate Assets during ownership thereof by the Borrower, the Trust, their respective Subsidiaries or
the operations of their respective properties have been transported off-site only in compliance
with all applicable Environmental Laws; any of which events described in clauses (i) through (v)
above would have a material adverse effect on the business, operations, assets, condition
(financial or otherwise), properties or prospects of the Trust, FPLP or any other member of the
Potomac Group, or constitutes a Disqualifying Environmental Event with respect to any of the
Eligible Unencumbered Properties.

(d) None of the Borrower, the Trust or any of the Real Estate Assets is subject to any
applicable Environmental Law requiring the performance of Hazardous Substances site assessments, or
the removal or remediation of Hazardous Substances, or the giving of notice to any governmental
agency or the recording or delivery to other Persons of an environmental disclosure document or
statement, by virtue of the transactions set forth herein and contemplated hereby, or as a
condition to the effectiveness of any other transactions contemplated hereby.

§7.19. Subsidiaries. Schedule 7.19 sets forth, as of the Closing Date, all of
the respective Subsidiaries of FPLP, each other Borrower and the Trust.

§7.20. Loan Documents. All of the representations and warranties by or on behalf of
the Borrower and the Trust and their respective Subsidiaries made in this Agreement and in the
other Loan Documents or any document or instrument delivered to the Agent or the Lenders pursuant
to or in connection with any of such Loan Documents are true and correct in all material respects
and do not include any untrue statement of a material fact or omit to state a material fact
required to be stated or necessary to make such representations and warranties not materially
misleading.

§7.21. REIT Status. The Trust has not taken any action that would prevent it from
maintaining its qualification as a REIT for its tax years ending December 31, 2003, December 31,
2004 or December 31, 2005, or from maintaining such qualification at all times during the term of
this Agreement.

§7.22. Anti-Terrorism Regulations.

(a) General. Neither the Borrower, the Trust nor any Affiliate thereof is in
violation of any Anti-Terrorism Law or engages in or conspires to engage in any transaction that
evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the
prohibitions set forth in any Anti-Terrorism Law.

(b) Executive Order No. 13224. Neither Borrower, the Trust nor any Affiliate thereof
is any of the following (each a “Blocked Person”):

(i) a Person that is listed in the annex to, or is otherwise subject to the provisions of,
Executive Order No. 13224;

(ii) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed
in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224;

(iii) a Person or entity with which any Lender is prohibited from dealing or otherwise
engaging in any transaction by any Anti-Terrorism Law;

(iv) a Person or entity that commits, threatens or conspires to commit or supports “terrorism”
as defined in Executive Order No. 13224;

(v) a Person or entity that is named as a “specially designated national” on the most current
list published by the U.S. Treasury Department Office of Foreign Asset Control at its official
website or any replacement website or other replacement official publication of such list; or

(vi) a person or entity who is affiliated or associated with a person or entity listed above.

(c) Neither Borrower, the Trust nor any Affiliate thereof (i) conducts any business or engages
in making or receiving any contribution of funds, goods or services to or for the benefit of any
Blocked Person, or (ii) deals in, or otherwise engages in any transaction relating to, any property
or interests in property blocked pursuant to Executive Order No. 13224.

(d) Neither Borrower, the Trust nor any Affiliate thereof are a “Special Designated National”
or “Blocked Person” as those terms are defined in the office of Foreign Asset Control Regulations
(31 C.F.R. § 500 et. seq.).

§8. AFFIRMATIVE COVENANTS OF THE BORROWER AND THE TRUST. The Borrower and the Trust,
on their own behalf and on behalf of their respective Subsidiaries, jointly and severally covenant
and agree that:

§8.1. Punctual Payment. The Borrower will duly and punctually pay or cause to be paid
the principal and interest on the Loans and all interest, fees, charges and other amounts and
Obligations provided for in this Agreement and the other Loan Documents, all in accordance with the
terms of this Agreement, the Notes and the other Loan Documents.

§8.2. Maintenance of Office; Jurisdiction of Organization, Etc.. Each of the Borrower
and the Trust will maintain its chief executive office in Bethesda, Maryland, or at such other
place in the United States of America as each of them shall designate by written notice to the
Agent to be delivered at least thirty (30) days prior to any change of chief executive office,
where, subject to §21, notices, presentations and demands to or upon the Borrower and the Trust in
respect of the Loan Documents may be given or made. Neither the Trust nor the Borrower will change
its jurisdiction of organization, name or corporate structure without giving the Agent at least
thirty (30) days prior written notice of such change, and, in the case of a change in corporate
structure, without the prior written consent of the Agent, which consent may not be unreasonably
withheld.

§8.3. Records and Accounts. Each of the Borrower and the Trust will (a) keep, and
cause each of its Subsidiaries to keep, true and accurate records and books of account in which
full, true and correct entries will be made in accordance with GAAP and (b) maintain adequate
accounts and reserves for all taxes (including income taxes), contingencies, depreciation and
amortization of its properties and the properties of its Subsidiaries.

§8.4. Financial Statements, Certificates and Information. The Borrower and the Trust
will deliver to the Agent:

(a) as soon as practicable, but in any event not later than ninety (90) days after the end of
each fiscal year of the Trust, the audited consolidated balance sheet of the Trust and its
Subsidiaries at the end of such year, and the related audited consolidated statements of income,
changes in shareholder’s equity and cash flows for the year then ended, in each case, setting forth
in comparative form the figures as of the end of and for the previous fiscal year and all such
statements to be in reasonable detail, prepared in accordance with GAAP (which may be provided by
inclusion in the Form 10-K of the Trust filed with the SEC for such period and delivered to the
Agent), and, in each case, accompanied by an auditor’s report prepared without qualification by the
Accountants (and the Borrower also shall deliver the foregoing for FPLP on a consolidated basis);
together with (i) a certification by the principal financial or accounting officer of the Borrower
and the Trust that the information contained in such financial statements fairly presents the
financial position of the Trust and its Subsidiaries on the date thereof (which may be provided by
inclusion in the Form 10-K of the Trust filed with the SEC for such period and delivered to the
Agent) and (ii) a written statement from such Accountants to the effect that they have read a copy
of this Agreement, and that, in making the examination necessary to said certification, they have
obtained no knowledge of any Default or Event of Default under §10 or otherwise under the
provisions of this Agreement relating to the financial condition of the Trust or any of its
Subsidiaries, or of any facts or circumstances that would cause the Trust not to continue to
qualify as a REIT for federal income tax purposes, or, if such Accountants shall have obtained
knowledge of any then existing Default, Event of Default or such facts or circumstances, they shall
make disclosure thereof in such statement;

(b) as soon as practicable, but in any event not later than forty-five (45) days after the end
of each of its March 31, June 30 and September 30 fiscal quarters, copies of the unaudited
consolidated balance sheet of the Trust and its Subsidiaries, as at the end of such quarter, and
the related unaudited consolidated statements of income, changes in shareholders’ equity and cash
flows for the portion of the Trust’s fiscal year then elapsed, all in reasonable detail and
prepared in accordance with GAAP (which may be provided by inclusion in the Form 10-Q of the Trust
filed with the SEC for such period and delivered to the Agent), together with a certification by
the principal financial or accounting officer of the Borrower and the Trust that the information
contained in such financial statements fairly presents the financial position of the Trust and its
Subsidiaries on the date thereof (which may be provided by inclusion in the Form 10-Q of the Trust
filed with the SEC for such period and delivered to the Agent) (subject to year-end adjustments
none of which shall be materially adverse and the absence of footnotes) (and the Borrower also
shall deliver the foregoing for FPLP on a consolidated basis);

(c) as soon as practicable, but in any event not later than ninety (90) days after the end of
each of its fiscal years, a rent roll and operating statement in respect of each Eligible
Unencumbered Property, certified by the chief financial or accounting officer of the Borrower as
true and correct;

(d) as soon as practicable, but in any event not later than forty-five (45) days after the end
of each of the fiscal quarters of the Borrower, a rent roll and operating statement in respect of
each Eligible Unencumbered Property, certified by the chief financial or accounting officer of the
Borrower as true and correct;

(e) simultaneously with the delivery of the financial statements referred to in subsections
(a) and (b) above, a statement in the form of Exhibit C-2 hereto signed by the chief
financial or accounting officer of the Borrower, and setting forth in reasonable detail
computations evidencing compliance with the covenants contained in §10;

(f) promptly as they become available, a copy of each report submitted to the Borrower, the
Trust or any of their respective subsidiaries by the Accountants in connection with each annual
audit of the books of the Borrower, the Trust or such Subsidiary by such Accountants or in
connection with any interim audit thereof pertaining to any phase of the business of the Borrower,
the Trust or any such Subsidiary;

(g) contemporaneously with (or promptly after) the filing or mailing thereof, copies of all
material of a financial nature sent to the holders of any Indebtedness of the Borrower (other than
the Loans) for borrowed money, to the extent that the information or disclosure contained in such
material refers to or could reasonably be expected to have a material adverse effect on the
business, operations, assets, condition (financial or otherwise) or properties of the Trust, FPLP
or any other member of the Potomac Group;

(h) contemporaneously with the filing or mailing thereof, copies of all material of a
financial nature filed with the SEC or sent to the stockholders of the Trust;

(i) unless delivered pursuant to clauses (a) or (b) above, as applicable, as soon as
practicable, but in any event not later than ninety (90) days after the end of each fiscal year of
the Trust, copies of the Form 10-K statement filed by the Trust with the SEC for such fiscal year,
and as soon as practicable, but in any event not later than fifty (50) days after the end of each
fiscal quarter of the Trust copies of the Form 10-Q statement filed by the Trust with the SEC for
such fiscal quarter, provided that, in either case, if the SEC has granted an extension for
the filing of such statements, the Trust shall deliver such statements to the Agent within ten (10)
days after the filing thereof with the SEC;

(j) in the case of the Borrower and the Trust, as soon as practicable, but in any event not
later than thirty (30) days prior to the end of each of their respective fiscal years, a business
plan for the next fiscal year (including pro forma projections for such period);

(k) if requested by the Agent, a certification by the chief financial or accounting officer of
the Borrower of the state and federal taxable income of the Trust and its Subsidiaries as of the
end of any applicable fiscal year;

(l) [Reserved]; and

(m) from time to time such other financial data and other information about the Borrower, the
Trust, their respective Subsidiaries, the Real Estate Assets and the Partially-Owned Entities as
the Agent or any Lender (through the Agent) may reasonably request. Without limitation of the
foregoing, at the request of the Agent, the Borrower will deliver to the Agent information relating
to (i) the determination of the existence or absence of a Disqualifying Environmental Event or a
Disqualifying Structural Event, (ii) title to any Eligible Unencumbered Property and (iii)
insurance coverage.

§8.5. Notices.

(a) Defaults. The Borrower and the Trust will, promptly after obtaining knowledge of
the same, notify the Agent in writing (with copies to the Agent for each Lender) of the occurrence
of any Default or Event of Default. If any Person shall give any notice or take any other action
in respect of (x) a claimed Default (whether or not constituting an Event of Default) under this
Agreement or (y) a claimed failure by the Borrower, the Trust or any of their respective
Subsidiaries, as applicable, to comply with any term, condition or provision of or under any note,
evidence of Indebtedness, indenture or other obligation in excess of $20,000,000, individually or
in the aggregate, in respect of Indebtedness that is Without Recourse and in excess of $2,000,000,
individually or in the aggregate, in respect of Indebtedness that is Recourse, to which or with
respect to which any of them is a party or obligor, whether as principal or surety, and such
failure to comply would permit the holder of such note or obligation or other evidence of
Indebtedness to accelerate the maturity thereof, the Borrower shall forthwith give written notice
thereof to the Agent and each of the Lenders, describing the notice or action and the nature of the
claimed failure to comply.

(b) Environmental Events. The Borrower and the Trust will promptly give notice in
writing to the Agent (with copies to the Agent for each Lender) (i) upon Borrower’s or the Trust’s
obtaining knowledge of any material violation (as determined by the Borrower or the Trust in the
exercise of its reasonable discretion) of any Environmental Law regarding any Real Estate Asset or
Borrower’s or the Trust’s operations, (ii) upon Borrower’s or the Trust’s obtaining knowledge of
any known Release of any Hazardous Substance at, from, or into any Real Estate Asset which it
reports in writing or is reportable by it in writing to any governmental authority and which is
material in amount or nature or which could materially affect the value of such Real Estate Asset,
(iii) upon Borrower’s or the Trust’s receipt of any notice of material violation of any
Environmental Laws or of any material Release of Hazardous Substances in violation of any
Environmental Laws or any matter that may be a Disqualifying Environmental Event with respect to
any of the Eligible Unencumbered Properties, including a notice or claim of liability or potential
responsibility from any third party (including without limitation any federal, state or local
governmental officials) and including notice of any formal inquiry, proceeding, demand,
investigation or other action with regard to (A) Borrower’s or the Trust’s or any other Person’s
operation of any Real Estate Asset, (B) contamination on, from or into any Real Estate Asset, or
(C) investigation or remediation of off-site locations at which Borrower or the Trust or any of its
predecessors are alleged to have directly or indirectly disposed of Hazardous Substances, or (iv)
upon Borrower’s or the Trust’s obtaining knowledge that any expense or loss has been incurred by
such governmental authority in connection with the assessment, containment, removal or remediation
of any Hazardous Substances with respect to which Borrower or the Trust or any Partially-Owned
Entity may be liable or for which a lien may be imposed on any Real Estate Asset.

(c) Notification of Claims against Eligible Unencumbered Properties. The Borrower
will, and will cause each Subsidiary to, promptly upon becoming aware thereof, notify the Agent in
writing (with copies to the Agent for each Lender) of any setoff, claims, withholdings or other
defenses to which any of the Eligible Unencumbered Properties are subject, which (i) could
reasonably be expected to have a material adverse effect on (x) the business, operations, assets,
condition (financial or otherwise), properties or prospects of the Trust, FPLP or any other member
of the Potomac Group, or (y) the value of any such Eligible Unencumbered Property, or (ii) with
respect to such Eligible Unencumbered Property, constitute a Disqualifying Environmental Event, a
Disqualifying Structural Event or a Lien subject to the bonding or insurance requirement of
§9.2(vii).

(d) Notice of Litigation and Judgments. The Borrower and the Trust will give notice
to the Agent in writing (with copies to the Agent for each Lender) within three (3) days of
becoming aware of any litigation or proceedings threatened in writing or any pending litigation and
proceedings an adverse determination in which could materially adversely affect FPLP, the Trust or
any member of the Potomac Group, or any Eligible Unencumbered Property or to which the Borrower,
the Trust or any of their respective Subsidiaries is or is to become a party involving a claim
against the Borrower, the Trust or any of their respective Subsidiaries that could reasonably be
expected to have a materially adverse effect on the respective business, operations, assets,
condition (financial or otherwise) or properties of the Trust, FPLP or any other member of the
Potomac Group or on the value or operation of the Eligible Unencumbered Properties and stating the
nature and status of such litigation or proceedings. The Borrower and the Trust will give notice
to the Agent and each of the Lenders, in writing, in form and detail reasonably satisfactory to the
Agent, within three (3) days of any judgment not covered by insurance, final or otherwise, against
the Borrower, the Trust or any of such Subsidiaries in an amount in excess of $1,000,000.

§8.6. Existence of Borrower; Maintenance of Properties. The Borrower and the Trust
will do or cause to be done all things necessary to, and shall, preserve and keep in full force and
effect its respective existence in its jurisdiction of organization and will do or cause to be done
all things necessary to preserve and keep in full force all of its respective rights and franchises
and those of its respective Subsidiaries which may be necessary to properly and advantageously
conduct the businesses conducted by it. The Borrower (a) will cause all necessary repairs,
renewals, replacements, betterments and improvements to be made to all Real Estate Assets owned or
controlled by it, all as in the judgment of the Borrower may be necessary so that the business
carried on in connection therewith may be properly and advantageously conducted at all times,
subject to the terms of the applicable Leases and partnership agreements or other entity charter
documents, and in any event, will keep all of the Real Estate Assets (for so long as such Real
Estate Assets are owned by the Borrower or any of its Subsidiaries) in a condition consistent with
the Real Estate Assets currently owned or controlled by the Borrower or its Subsidiaries, (b) will
cause all of its other properties and those of its Subsidiaries (to the extent controlled by the
Borrower) used or useful in the conduct of its business or the business of its Subsidiaries to be
maintained and kept in good condition, repair and working order and supplied with all necessary
equipment, (c) will not permit the Trust to directly own or lease any Real Estate Asset, and (d)
will, and will cause each of its Subsidiaries to continue to engage primarily in the businesses now
conducted by it and in related businesses, all of the foregoing to the extent necessary to comply
with the other terms and conditions set forth in this Agreement, and in the case of clauses (a) and
(b) above.

§8.7. Existence of the Trust; Maintenance of REIT Status of the Trust; Maintenance of
Properties. The Trust will do or cause to be done all things necessary to preserve and keep in
full force and effect the Trust’s existence as a Maryland corporation. The Trust will at all times
(i) maintain its status as a REIT and not take any action which could lead to its disqualification
as a REIT and (ii) continue to operate as a self-directed and self-administered REIT and be listed
on a nationally-recognized stock exchange. The Trust will not engage in any business other than the
business of acting as a REIT and serving as the general partner and limited partner of the Borrower
and matters directly relating thereto, and shall (x) conduct all or substantially all of its
business operations through the Borrower or through subsidiary partnerships or other entities in
which the Borrower owns 100% of the economic interests and (y) own no real property or material
personal property other than through its ownership interests in the Borrower. The Trust will (a)
cause all of its properties and those of its Subsidiaries used or useful in the conduct of its
business or the business of its Subsidiaries to be maintained and kept in good condition, repair
and working order, and supplied with all necessary equipment, (b) cause to be made all necessary
repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of
the Trust may be necessary so that the business carried on in connection therewith may be properly
and advantageously conducted at all times and (c) cause each of its Subsidiaries to continue to
engage primarily in the businesses now conducted by it and in related businesses, in each case
under clauses (a), (b) and (c) above to the extent, in the good faith judgment of the Trust,
necessary to properly and advantageously conduct the businesses being conducted by it.

§8.8. Insurance. The Borrower and the Trust will maintain with respect to their other
properties, and will cause each of its Subsidiaries to maintain, with financially sound and
reputable insurers, insurance with respect to such properties and its business against such
casualties and contingencies as shall be in accordance with the general practices of businesses
engaged in similar activities in similar geographic areas and in amounts, containing such terms, in
such forms and for such periods as may be reasonable and prudent.

§8.9. Taxes. The Borrower will, and will cause the Trust and each of their respective
Subsidiaries to, pay or cause to be paid real estate taxes, other taxes, assessments and other
governmental charges against the Real Estate Assets before the same become delinquent and will duly
pay and discharge, or cause to be paid and discharged, before the same shall become overdue, all
taxes, assessments and other governmental charges imposed upon its sales and activities, or any
part thereof, or upon the income or profits therefrom, as well as all claims for labor, materials,
or supplies that if unpaid might by law become a lien or charge upon any of the Real Estate Assets;
provided that any such tax, assessment, charge, levy or claim need not be paid if the
validity or amount thereof shall currently be contested in good faith by appropriate proceedings
and if the Borrower or the Trust shall have set aside on its books adequate reserves with respect
thereto; and provided further that the Borrower or the Trust will pay all such taxes,
assessments, charges, levies or claims forthwith prior to the consummation of proceedings to
foreclose any lien that may have attached as security therefor. Promptly upon request by the Agent
if required for bank regulatory compliance purposes or similar bank purposes, the Borrower will
provide evidence of the payment of real estate taxes, other taxes, assessments and other
governmental charges against the Real Estate Assets in the form of receipted tax bills or other
form reasonably acceptable to the Agent, or evidence of the existence of applicable contests as
contemplated herein.

§8.10. Inspection of Properties and Books. (a) Subject to the rights of tenants to
limit or prohibit such access, as denoted in the applicable Leases, the Borrower and the Trust will
permit the Agent or any of its designated representatives upon reasonable notice (which notice may
be given orally or in writing and provided that no notice shall be required if a Default or
Event of Default has occurred and is continuing), to visit and inspect any of the properties of the
Borrower, the Trust or any of their respective Subsidiaries to examine the books of account of the
Borrower, the Trust and their respective Subsidiaries (and to make copies thereof and extracts
therefrom) and to discuss the affairs, finances and accounts of the Borrower, the Trust and their
respective Subsidiaries with, and to be advised as to the same by, its officers, all at such
reasonable times and intervals as the Agent may reasonably request.

(b) The Borrower hereby agrees that each of the Lenders and the Agent (and each of their
respective, and their respective affiliates’, employees, officers, directors, agents and advisors
(collectively, “Representatives”) is, and has been from the commencement of discussions with
respect to the facility established by the Agreement (the “Facility”), permitted to disclose to any
and all Persons, without limitation of any kind, the structure and tax aspects (as such terms are
used in Code sections 6011 and 6111) of the Facility, and all materials of any kind (including
opinions or other tax analyses) that are or have been provided to such Lender or the Agent related
to such structure and tax aspects. In this regard, the Lenders and the Agent intend that this
transaction will not be a “confidential transaction” under Code sections 6011, 6111 or 6112, and
the regulations promulgated thereunder. Neither Borrower, any Guarantor, nor any Subsidiary of any
of the foregoing intends to treat the Loan or the transactions contemplated by this Agreement and
the other Loan Documents as being a “reportable transaction” (within the meaning of Treasury
Regulation Section 1.6011-4). If the Borrower or the Guarantor determines to take any action
inconsistent with such intention, the Borrower will promptly notify the Agent thereof. If the
Borrower so notifies the Agent, the Borrower acknowledges that the Agent may treat the Loan as part
of a transaction that is subject to Treasury Regulation Section 301.6112-1, and the Agent will
maintain the lists and other records, including the identity of the applicable party to the Loan as
required by such Treasury Regulation.

(c) The Borrower hereby acknowledges that (a) the Agent and/or the Arranger will make
available to the Lenders and the Fronting Bank materials and/or information provided by the
Borrower hereunder by posting such materials on SyndTrak or another similar electronic system (the
“Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that
do not wish to receive material non-public information with respect to the Borrower or its
securities) (each, a “Public Lender”). The Borrower hereby agrees that (w) all such
materials that are to be made available to Public Lenders shall be clearly and conspicuously marked
“PUBLIC” by Borrower which, at a minimum, shall mean that the word “PUBLIC” shall appear
prominently on the first page thereof; (x) by marking such materials “PUBLIC,” the Borrower shall
be deemed to have authorized the Agent, the Arranger, the Fronting Bank and the Lenders to treat
such materials as not containing any material non-public information with respect to the Borrower
or its securities for purposes of United States Federal and state securities laws; (y) all such
materials marked “PUBLIC” by Borrower are permitted to be made available through a portion of the
Platform designated “Public Investor;” and (z) the Agent and the Arranger shall be entitled to
treat any such materials that are not marked “PUBLIC” as being suitable only for posting on a
portion of the Platform established for confidential non-public information and materials with
respect to Borrower or its securities and not designated “Public Investor.” Notwithstanding the
foregoing, Borrower shall be under no obligation to mark any such materials “PUBLIC.” In addition,
Agent, Arranger, the Fronting Bank and the Lenders all agree to maintain all such materials (other
than any such materials as are marked “PUBLIC”) in confidence and further agree that they shall not
make any such materials available to any other Person (including, without limitation, other
proposed Lenders and/or participants) unless and until such other Person agrees in writing to
maintain such materials in confidence consistent with the terms hereof.

§8.11. Compliance with Laws, Contracts, Licenses, and Permits. The Borrower and the
Trust will comply with, and will cause each of their respective Subsidiaries to comply with (a) all
applicable laws and regulations now or hereafter in effect wherever its business is conducted that
are material in any respect to the operation of their respective businesses in the ordinary course
and consistent with past practices, including, without limitation, all such Environmental Laws and
all such applicable federal and state securities laws, (b) the provisions of its partnership
agreement or corporate charter and other Organizational Documents, as applicable, (c) all material
agreements and instruments to which it is a party or by which it or any of its properties may be
bound (including the Real Estate Assets and the Leases) and (d) all applicable decrees, orders, and
judgments. If at any time while any Loan or Note or other Obligations is outstanding or the
Lenders have any obligation to make Loans or issue Letters of Credit hereunder, any Permit shall
become necessary or required in order that the Borrower may fulfill any of its obligations
hereunder, the Borrower and the Trust and their respective Subsidiaries will immediately take or
cause to be taken all reasonable steps within the power of the Borrower or the Trust, as
applicable, to obtain such Permit and furnish the Agent with evidence thereof.

§8.12. Use of Proceeds. Subject at all times to the other provisions of this
Agreement, including without limitation §7.17, the Borrower will use the proceeds of the Loans
solely to repay in full its obligations under its existing revolving credit facility agented by
KeyBank National Association, to finance acquisitions and rehabilitation of Permitted Properties
and for its working capital and general corporate purposes.

§8.13. Additional Borrower; Solvency of Borrower; Removal of Borrower; Addition of Real
Estate Asset to Unencumbered Pool.

(a) (i) If, after the Closing Date, FPLP wishes to designate as an Eligible Unencumbered
Property a Real Estate Asset that otherwise qualifies as an Eligible Unencumbered Property but is
owned by a Person other than the Borrower, FPLP shall cause such Person (which Person must be a
Wholly-owned Subsidiary of FPLP) to become a party to this Agreement and the other applicable Loan
Documents prior to such Real Estate Asset becoming an Eligible Unencumbered Property hereunder.
The liability of each Person which is from time to time a Borrower hereunder shall be joint and
several with each other Borrower for all Obligations for so long as such Borrower is a Borrower
hereunder (provided that FPLP shall at all times be a Borrower hereunder). (ii) In
accordance with §11.3, at any time and from time to time but only for so long as no Default or
Event of Default shall then exist, FPLP may notify Agent, in writing (each, a “Release Notice”),
that the Borrower would like one (1) or more Eligible Unencumbered Properties to be removed from
the Unencumbered Pool. Such Release Notice shall be accompanied by a Certificate of Compliance in
the form of Exhibit C-3, evidencing compliance with §2.1 and §10 after giving effect to the
requested release. Upon the Agent’s receipt of such Release Notice and its satisfaction with the
Certificate of Compliance, such Eligible Unencumbered Properties (each, a “Released Property”)
shall be removed from the Unencumbered Pool and any Wholly-owned Subsidiary which is the owner of a
Released Property (and is not the owner of any other an Eligible Unencumbered Property) and which
is then a Borrower (other than FPLP) hereunder shall be released from its obligations hereunder
(including the Obligations). Notwithstanding the foregoing, in no event will any Eligible
Unencumbered Property be permitted to be released hereunder without the approval of the Majority
Lenders if, at the time of such release and after giving effect thereto, the Unencumbered Pool will
have fewer than six (6) Real Estate Assets or the Value of Unencumbered Properties will be less
than $100,000,000. (iii) FPLP will not permit any Borrower (other than FPLP) that owns any
Eligible Unencumbered Property to have any Subsidiaries unless such Subsidiary’s business,
obligations and undertakings are exclusively related to the business of such Borrower.

	 	(b)	 	The Borrower and the Trust shall remain solvent at all times.

(c) Prior to the addition of any Real Estate Asset to the Unencumbered Pool, the Borrower
shall deliver to the Agent (i) a written request to add such Real Estate Asset to the Unencumbered
Pool, (ii) the Joinder Documents, if applicable, (iii) a current rent roll and operating statement
for such Real Estate Asset, (iv) a Certificate of Compliance in the form of Exhibit C-3
evidencing compliance with §2.1 and §10 after giving effect to the requested addition, and
including a certification that such Real Estate Asset is not the subject of a Disqualifying
Environmental Event or a Disqualifying Structural Event, and (v) any other documents, certificates,
instruments or agreements reasonably requested by the Agent.

Notwithstanding the preceding paragraph of this clause (c), if the Value of Unencumbered
Properties exceeds $200,000,000, the Borrower need not deliver to the Agent the items referred to
in this clause (c) prior to the inclusion of such Real Estate Asset in the Unencumbered Pool
(except to the extent a Joinder Agreement and related Joinder Documents are required to add a new
Borrower in accordance with the terms hereof), but shall deliver them when and as required under
Section 8.4.

(d) In the event the Borrower wishes to add a Real Estate Asset to the Unencumbered Pool which
does not meet one or more of the Unencumbered Property Conditions or the provisions of §8.13(c),
such Real Estate Asset may be included in the Unencumbered Pool with the approval of the Majority
Lenders.

§8.14. Further Assurances. The Borrower and the Trust will cooperate with the Agent
and the Lenders and execute such further instruments and documents as the Lenders or the Agent
shall reasonably request to carry out to their satisfaction the transactions contemplated by this
Agreement and the other Loan Documents.

§8.15. Interest Rate Protection. In the event that the Borrower’s floating rate
Indebtedness that is not otherwise subject to interest rate protection arrangements at any time
exceeds twenty-five percent (25%) of Consolidated Gross Asset Value, the Borrower shall obtain and
maintain in effect interest rate protection arrangements (by means of hedging techniques or
vehicles such as interest rate swaps, interest rate caps, interest rate corridors or interest rate
collars, in each case to be capped at a rate reasonably satisfactory to the Agent and otherwise in
form and substance reasonably satisfactory to the Agent) for a term and in an amount reasonably
satisfactory to the Agent. Once obtained, the Borrower shall maintain such arrangements in full
force and effect as provided therein, and shall not, without the approval of the Agent, modify,
terminate, or transfer such arrangements during the period in which the Borrower’s floating rate
Indebtedness exceeds twenty-five percent (25%) of Consolidated Gross Asset Value.

§8.16. Environmental Indemnification. The Borrower and the Trust each covenants and
agrees that it will indemnify and hold the Agent and each Lender, and each of their respective
Affiliates, harmless from and against any and all claims, expense, damage, loss or liability
incurred by the Agent or any Lender (including all reasonable costs of legal representation
incurred by the Agent or any Lender, but excluding, as applicable, for the Agent or a Lender any
claim, expense, damage, loss or liability as a result of the gross negligence or willful misconduct
of the Agent or such Lender or any of their respective Affiliates) relating to (a) any Release or
threatened Release of Hazardous Substances on any Real Estate Asset; (b) any violation of any
Environmental Laws with respect to conditions at any Real Estate Asset or the operations conducted
thereon; (c) the investigation or remediation of off-site locations at which the Borrower, the
Trust or any of their respective Subsidiaries or their predecessors are alleged to have directly or
indirectly disposed of Hazardous Substances; or (d) any action, suit, proceeding or investigation
brought or threatened with respect to any Hazardous Substances relating to Real Estate Assets
(including, but not limited to, claims with respect to wrongful death, personal injury or damage to
property). It is expressly acknowledged by the Borrower that, notwithstanding the introductory
paragraph of this §8, this covenant of indemnification shall survive the repayment of the amounts
owing under the Notes and this Agreement and the termination of this Agreement and the obligations
of the Lenders hereunder and shall inure to the benefit of the Agent and the Lenders and their
respective Affiliates, their respective successors, and their respective assigns under the Loan
Documents permitted under this Agreement.

§8.17. Response Actions. The Borrower covenants and agrees that if any Release or
disposal of Hazardous Substances shall occur or shall have occurred on any Real Estate Asset owned
directly or indirectly by the Borrower or the Trust, in violation of applicable Environmental Laws,
the Borrower will cause the prompt containment and removal of such Hazardous Substances and
remediation of such wholly-owned Real Estate Asset as necessary to comply with all Environmental
Laws or to preserve the value of any applicable Eligible Unencumbered Property.

§8.18. Environmental Assessments. If the Agent reasonably believes, after discussion
with the Borrower and review of any environmental reports provided by the Borrower, that a
Disqualifying Environmental Event has occurred with respect to any one or more of the Eligible
Unencumbered Properties, whether or not a Default or an Event of Default shall have occurred, the
Agent may, from time to time, for the purpose of assessing and determining whether a Disqualifying
Environmental Event has in fact occurred, cause the Borrower to obtain one or more environmental
assessments or audits of such Eligible Unencumbered Property prepared by a hydrogeologist, an
independent engineer or other qualified consultant or expert approved by the Agent to evaluate or
confirm (i) whether any Hazardous Substances are present in the soil or water at such Eligible
Unencumbered Property and (ii) whether the use and operation of such Eligible Unencumbered Property
complies with all Environmental Laws. Environmental assessments may include without limitation
detailed visual inspections of such Eligible Unencumbered Property including, without limitation,
any and all storage areas, storage tanks, drains, dry wells and leaching areas, and, if and to the
extent reasonable, appropriate and required pursuant to applicable Environmental Laws, the taking
of soil samples, surface water samples and ground water samples, as well as such other
investigations or analyses as the Agent deems appropriate. All such environmental assessments
shall be at the sole cost and expense of the Borrower.

§8.19. Employee Benefit Plans.

(a) Notice. The Borrower and the Trust will notify the Agent (with copies to the
Agent for each Lender) at least thirty (30) days prior to the establishment of any Employee Benefit
Plan, Multiemployer Plan or Guaranteed Pension Plan by any of them or any of their respective ERISA
Affiliates other than those disclosed on Schedule 8.19 attached hereto or disclosed in the
SEC Filings, and neither the Borrower nor the Trust will establish any Employee Benefit Plan,
Multiemployer Plan or Guaranteed Pension Plan which could reasonably be expected to have a material
adverse effect on FPLP, the Trust or any member of the Potomac Group.

(b) In General. Each Employee Benefit Plan maintained by the Borrower, the Trust or
any of their respective ERISA Affiliates will be operated in compliance with the provisions of
ERISA and, to the extent applicable, the Code, including but not limited to the provisions
thereunder respecting prohibited transactions.

(c) Terminability of Welfare Plans. With respect to each Employee Benefit Plan
maintained by the Borrower, the Trust or any of their respective ERISA Affiliates which is an
employee welfare benefit plan within the meaning of §3(l) or §3(2)(B) of ERISA, the Borrower, the
Trust, or any of their respective ERISA Affiliates, as the case may be, shall have the right to
terminate each such plan at any time (or at any time subsequent to the expiration of any applicable
bargaining agreement) without liability other than liability to pay claims incurred prior to the
date of termination.

(d) Unfunded or Underfunded Liabilities. The Borrower and the Trust will not at any
time have accruing or accrued unfunded or underfunded liabilities with respect to any Employee
Benefit Plan, Guaranteed Pension Plan or Multiemployer Plan, or permit any condition to exist under
any Multiemployer Plan that would create a withdrawal liability.

§8.20. No Amendments to Certain Documents. The Borrower and the Trust will not at any
time cause or permit its certificate of limited partnership, agreement of limited partnership
(including without limitation the Agreement of Limited Partnership of the Borrower), articles of
incorporation, by-laws, operating agreement or other Organizational Documents, as the case may be,
to be modified, amended or supplemented in any respect whatever, without (in each case) the express
prior written consent or approval of the Agent, if such changes could reasonably be expected to
affect the Trust’s REIT status or otherwise adversely affect the rights of the Agent and the
Lenders hereunder or under any other Loan Document.

§9. CERTAIN NEGATIVE COVENANTS OF THE BORROWER AND THE TRUST. The Borrower and the
Trust, on their own behalf and on behalf of their respective Subsidiaries, jointly and severally
covenant and agree that neither the Borrower nor the Trust will:

§9.1. Restrictions on Indebtedness. Create, incur, assume, guarantee or be or remain
liable, contingently or otherwise, with respect to any Indebtedness other than:

(a) Indebtedness to the Agent and the Lenders (and their respective Affiliates) arising under
any of the Loan Documents;

(b) current liabilities of the Borrower incurred in the ordinary course of business other than
through (i) the borrowing of money, or (ii) the obtaining of credit except for credit on an open
account basis customarily extended and in fact extended in connection with normal purchases of
goods and services;

(c) Indebtedness (other than relating to the Eligible Unencumbered Properties) in an aggregate
amount not in excess of $250,000 in respect of taxes, assessments, governmental charges or levies
and claims for labor, materials and supplies to the extent that payment therefor shall not at the
time be required to be made in accordance with the provisions of §8.9;

(d) Indebtedness (other than relating to the Eligible Unencumbered Properties) in an aggregate
amount not in excess of $1,000,000 in respect of judgments or awards that have been in force for
less than the applicable period for taking an appeal so long as execution is not levied thereunder
or in respect of which, at the time, a good faith appeal or proceeding for review is being
prosecuted, and in respect of which a stay of execution shall have been obtained pending such
appeal or review;

(e) endorsements for collection, deposit or negotiation incurred in the ordinary course of
business;

(f) Secured Indebtedness of the Borrower incurred after the Closing Date, provided
that: (i) such Indebtedness is Without Recourse to the Borrower or the Trust and is Without
Recourse to any of the respective assets of any of the Borrower or the Trust other than to the
specific Real Estate Asset or Assets acquired, refinanced or rehabilitated with the proceeds of
such Indebtedness, except that, notwithstanding the foregoing, a portion of such Indebtedness at
any time outstanding not in excess of ten percent (10%) of Consolidated Gross Asset Value may be
Recourse Indebtedness of the Borrower so long as such Indebtedness is not secured by any Eligible
Unencumbered Property or a pledge of the equity of any Subsidiary that owns an Eligible
Unencumbered Property, (ii) at the time any such Indebtedness is incurred and after giving effect
thereto, there exists no Default or Event of Default hereunder and (iii) such Indebtedness, in the
aggregate, does not exceed fifty-five percent (55%) of Consolidated Gross Asset Value;

(g) contingent liabilities of the Borrower disclosed in the financial statements referred to
in §7.4 or on Schedule 9.1(g) hereto, and such other contingent liabilities of the Borrower
having a combined aggregate potential liability of not more than $1,000,000 at any time; and

(h) Indebtedness of the Borrower for the purchase price of capital assets (other than Real
Estate Assets but including Indebtedness in respect of Capitalized Leases) incurred in the ordinary
course of business, provided that the aggregate principal amount of Indebtedness permitted
by this clause (h) shall not exceed $500,000 at any time outstanding.

Notwithstanding the foregoing, in no event shall the Borrower, the Trust or any of their
respective Subsidiaries incur or have outstanding unhedged variable rate Indebtedness in excess of
twenty-five percent (25%) of Consolidated Gross Asset Value.

It is understood and agreed that the provisions of this §9.1 shall not apply to Indebtedness
of any Partially-Owned Entity which is Without Recourse to the Borrower or the Trust, or any of
their respective assets.

The terms and provisions of this §9.1 are in addition to, and not in limitation of, the
covenants set forth in §10.

§9.2. Restrictions on Liens, Etc. (a) Create or incur or suffer to be created or
incurred or to exist any lien, mortgage, pledge, attachment, security interest or other rights of
third parties of any kind upon any of the Eligible Unencumbered Properties, whether now owned or
hereafter acquired, or upon the income or profits therefrom; (b) acquire, or agree or have an
option to acquire, any property or assets upon conditional sale or other title retention or
purchase money security agreement, device or arrangement in connection with the operation of the
Eligible Unencumbered Properties; (c) suffer to exist with respect to the Eligible Unencumbered
Properties, any taxes, assessments, governmental charges and claims for labor, materials and
supplies for which payment thereof is not being contested or for which payment notwithstanding a
contest is required to be made in accordance with the provisions of §8.9 and has not been timely
made; or (d) sell, assign, pledge or otherwise transfer for security any accounts, contract rights,
general intangibles, chattel paper or instruments, with or without recourse, relating to the
Eligible Unencumbered Properties (the foregoing types of liens and encumbrances described in
clauses (a) through (d) being sometimes referred to herein collectively as “Liens”),
provided that the Borrower may create or incur or suffer to be created or incurred or to
exist:

(i) Liens securing taxes, assessments, governmental charges or levies which are not yet due
and payable or which are not yet required to be paid under §8.9;

(ii) Liens arising out of deposits or pledges made in connection with, or to secure payment
of, worker’s compensation, unemployment insurance, old age pensions or other social security
obligations; and deposits with utility companies and other similar deposits made in the ordinary
course of business;

(iii) Liens (other than affecting the Eligible Unencumbered Properties) in respect of
judgments or awards, the Indebtedness with respect to which is not prohibited by §9.1(d);

(iv) Encumbrances on properties consisting of easements, rights of way, covenants, zoning and
other land-use restrictions, building restrictions, restrictions on the use of real property and
defects and irregularities in the title thereto; landlord’s or lessor’s Liens under Leases to which
the Borrower is a party or bound; purchase options granted at a price not less than the market
value of such property; and other minor Liens or encumbrances on properties, none of which
interferes materially and adversely with the use of the property affected in the ordinary conduct
of the business of the Borrower, and which matters (x) do not individually or in the aggregate have
a material adverse effect on the business of FPLP, the Trust or any member of the Potomac Group and
(y) do not make title to such property unmarketable by the conveyancing standards in effect where
such property is located;

(v) any Leases entered into in the ordinary course of business;

(vi) as to Real Estate Assets which are acquired after the date of this Agreement, Liens and
other encumbrances or rights of others which exist on the date of acquisition and which do not
otherwise constitute a breach of this Agreement; provided that nothing in this clause (vi)
shall be deemed or construed to permit an Eligible Unencumbered Property to be subject to a Lien to
secure Indebtedness;

(vii) Liens affecting the Eligible Unencumbered Properties in respect of judgments or awards
that are under appeal or have been in force for less than the applicable period for taking an
appeal, so long as execution is not levied thereunder or in respect of which, at the time, a good
faith appeal or proceeding for review is being diligently prosecuted, and in respect of which a
stay of execution shall have been obtained pending such appeal or review; provided that the
Borrower shall have obtained a bond or insurance or made other arrangements with respect thereto,
in each case reasonably satisfactory to the Agent;

(viii) Liens securing Indebtedness for the purchase price of capital assets (other than Real
Estate Assets but including Indebtedness in respect of Capitalized Leases for equipment and other
equipment leases) to the extent not otherwise prohibited by §9.1; and

(x) other Liens (other than affecting the Eligible Unencumbered Properties) in connection with
any Indebtedness permitted under §9.1.

Nothing contained in this §9.2 shall restrict or limit the Borrower or any of their respective
Wholly-owned Subsidiaries from creating a Lien in connection with any Real Estate Asset which is
not an Eligible Unencumbered Property and otherwise in compliance with the other terms of this
Agreement.

The Trust shall not create or incur or suffer to be created or incurred any Lien on any of its
directly-owned properties or assets, including, in any event, its general partner interests and
limited partner interests in the Borrower.

§9.3. Restrictions on Investments. Make or permit to exist or to remain outstanding
any Investment except, with respect to the Borrower and its Subsidiaries only, Investments in:

(a) marketable direct or guaranteed obligations of the United States of America that mature
within one (1) year from the date of purchase (including investments in securities guaranteed by
the United States of America such as securities in so-called “overseas private investment
corporations”);

(b) demand deposits, certificates of deposit, bankers acceptances and time deposits of United
States banks having total assets in excess of $1,000,000,000;

(c) securities commonly known as “commercial paper” issued by a corporation organized and
existing under the laws of the United States of America or any state thereof that at the time of
purchase have been rated and the ratings for which are not less than ”P 1” if rated by Moody’s, and
not less than “A 1” if rated by S&P;

(d) Investments existing on the Closing Date and listed in the financial statements referred
to in §7.4;

(e) other Investments hereafter in connection with the acquisition and development of
Permitted Properties by the Borrower or any Wholly-owned Subsidiary of the Borrower,
provided that the aggregate amounts actually invested by Borrower (or if not invested
directly by Borrower, actually invested by an Affiliate of the Borrower for which the Borrower has
any funding obligation) and such Wholly-owned Subsidiary at any time in Real Estate Assets under
Development (including all development costs) will not exceed ten percent (10%) of the Consolidated
Gross Asset Value at the time of any such Investment; and Investments in raw land intended to be
developed by the Borrower or any Wholly-owned Subsidiary of the Borrower for use as a Permitted
Property, provided that the aggregate amounts actually invested by Borrower (or if not
invested directly by Borrower, actually invested by an Affiliate of the Borrower for which the
Borrower has any funding obligation) and such Wholly-owned Subsidiary at any time in raw land will
not exceed five percent (5%) of the Consolidated Gross Asset Value at the time of any such
Investment;

(f) any Investments now or hereafter made in any Wholly-owned Subsidiary; and Investments now
or hereafter made in any Partially-Owned Entity (or other Person for which the Borrower has any
funding obligation) so long as such Investment is made in connection with Permitted Properties and
provided that the aggregate amounts actually invested by Borrower (or if not invested
directly by Borrower, actually invested by an Affiliate of the Borrower for which the Borrower has
any funding obligation) and such Wholly-owned Subsidiary at any time in any Partially-Owned Entity
(or other such Person) will not exceed twenty percent (20%) of the Consolidated Gross Asset Value
at the time of any such Investment; and

(g) Investments in respect of (1) equipment, inventory and other tangible personal property
acquired in the ordinary course of business, (2) current trade and customer accounts receivable for
services rendered in the ordinary course of business and payable in accordance with customary trade
terms, (3) advances in the ordinary course of business to employees for travel expenses, drawing
accounts and similar expenditures, (4) prepaid expenses made in the ordinary course of business.

(h) Investments by the Borrower in Mortgage Notes, provided that the aggregate
investment in such Mortgage Notes will not exceed five percent (5%) of the Consolidated Gross Asset
Value at the time of any such Investment.

In no event shall the aggregate of Investments made pursuant to subclauses (e), (f), (g) and
(h) above exceed twenty-five percent (25%) of Consolidated Gross Asset Value at any time.

Notwithstanding the foregoing, the Trust shall be permitted to make and maintain Investments
in the Borrower and the Trust shall contribute to the Borrower, promptly upon, and in any event
within 3 Business Days of, the Trust’s receipt thereof, 100% of the aggregate proceeds received by
the Trust in connection with any offering of stock or debt in the Trust (net of fees and expenses
customarily incurred in such offerings).

§9.4. Merger, Consolidation and Disposition of Assets; Assets of the Trust.

(a) Become a party to any merger, consolidation, spin-off or other material business change
without the prior written approval of the Majority Lenders (other than (x) the merger or
consolidation of one or more Wholly-owned Subsidiaries with and into the Borrower or (y) the merger
or consolidation of two or more Wholly owned Subsidiaries of the Borrower so long as no Default or
Event of Default has occurred and is continuing, or would occur and be continuing after giving
effect to such merger or consolidation); or

(b) sell, transfer or otherwise dispose of any Real Estate Assets or other property, including
any equity interest in any Person in any one or more transactions in any 12-month period having a
sales price (net of any Indebtedness secured by a Lien on such Real Estate Assets, if any), in an
amount in excess of twenty percent (20%) of Consolidated Gross Asset Value (collectively and
individually, “Sell” or a “Sale”) or grant a Lien to secure Indebtedness (an “Indebtedness Lien”)
in any one or more transactions in a 12-month period in an amount in excess of twenty percent (20%)
of Consolidated Gross Asset Value unless, in each such event, the Majority Lenders have given their
prior written consent thereto. In addition, prior to any Sale or grant of an Indebtedness Lien,
the Borrower shall have provided to the Agent (with copies to the Agent for each Lender) a
compliance certificate in the form of Exhibit C-3, hereto signed by the chief financial
officer or chief accounting officer of the Borrower, setting forth in reasonable detail
computations evidencing compliance with the covenants contained in §10 hereof and certifying that
no Default or Event of Default would exist or occur and be continuing after giving effect to all
such proposed Sales or Indebtedness Liens (and the use of proceeds of such Sales or Indebtedness
Liens to pay Indebtedness outstanding hereunder).

§9.5. Compliance with Environmental Laws. (a) Use any of the Real Estate Assets or
any portion thereof as a facility for the handling, processing, storage or disposal of Hazardous
Substances except for quantities of Hazardous Substances used in the ordinary course of business
and in compliance with all applicable Environmental Laws, (b) cause or permit to be located on any
of the Real Estate Assets any underground tank or other underground storage receptacle for
Hazardous Substances except in compliance with Environmental Laws, (c) generate any Hazardous
Substances on any of the Real Estate Assets except in compliance with Environmental Laws, or (d)
conduct any activity at any Real Estate Asset or use any Real Estate Asset in any manner so as to
cause a Release in violation of applicable Environmental Laws.

§9.6. Distributions.

(a) The Borrower will not make (i) annual Distributions in excess of 95% of “funds from
operations”; or (ii) any Distributions during any period after any monetary Event of Default has
occurred; provided, however, (a) that the Borrower may at all times (including
while an Event of Default is continuing) make Distributions to the extent (after taking into
account all available funds of the Trust from all other sources) required in order to enable the
Trust to continue to qualify as a REIT and (b) in the event that the Borrower cures any such Event
of Default in clause (ii) above and the Agent has accepted such cure prior to accelerating the
Loan, the limitation of clause (ii) above shall cease to apply with respect to such Event of
Default.

(b) The Trust will not, during any period when any monetary Event of Default has occurred and
is continuing, make any Distributions in excess of the minimum Distributions required to be made by
the Trust in order to maintain its status as a REIT.

§9.7. Government Regulation. The Borrower and the Trust shall not, and shall not
permit any of their respective Subsidiaries to, (a) be or become subject at any time to any law,
regulation, or list of any government agency (including, without limitation, the U.S. Office of
Foreign Asset Control list) that prohibits or limits the Agent or any Lender from making any
advance or extension of credit to the Borrower or from otherwise conducting business with the
Borrower, or (b) fail to provide documentary and other evidence of the Borrower’s identity as may
be requested by the Agent or any Lender at any time to enable the Agent or any Lender to verify the
Borrower’s identity or to comply with any applicable law or regulation, including, without
limitation, Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318.

§10. FINANCIAL COVENANTS; COVENANTS REGARDING ELIGIBLE UNENCUMBERED PROPERTIES. The
Borrower and the Trust, on their own behalf and on behalf of their respective Subsidiaries, jointly
and severally covenant and agree that:

§10.1. Consolidated Total Leverage Ratio. At any time, Consolidated Total
Indebtedness as at the last day of the applicable quarter shall not exceed 65% of Consolidated
Gross Asset Value. This covenant shall be tested quarterly as of the last day of the applicable
quarter.

§10.2. [Reserved.].

§10.3. Fixed Charge Coverage Ratio. As at the end of any fiscal quarter, the ratio of
(i) Adjusted EBITDA for the four consecutive fiscal quarters ending on the last day of such fiscal
quarter to (ii) Consolidated Fixed Charges for the four consecutive fiscal quarters ending on the
last day of such fiscal quarter must exceed 1.50 to 1.0.

§10.4. Net Worth. As at the end of any fiscal quarter or any other date of
measurement, the Consolidated Tangible Net Worth of the Borrower and its Subsidiaries shall not be
less than the sum of (i) $250,000,000 plus (ii) 80% of the aggregate proceeds received by
the Trust (net of fees and expenses customarily incurred in transactions of such type) in
connection with any offering of stock in the Trust, plus (iii) 80% of the aggregate value
of operating units issued by the Borrower in connection with asset or stock acquisitions (valued at
the time of issuance by reference to the terms of the agreement pursuant to which such units are
issued), in each case after the Closing Date and on or prior to the date such determination of
Consolidated Net Worth is made.

§10.5. Unencumbered Pool Leverage. As at the end of any fiscal quarter or any other
date of measurement, the Borrower shall not permit Unsecured Consolidated Total Indebtedness to
exceed 65% the aggregate Value of Unencumbered Properties.

§10.6. Unencumbered Pool Interest Coverage Ratio. As of the end of any fiscal
quarter, the ratio of (i) Adjusted Net Operating Income for the applicable quarter, annualized;
divided by (ii) the Unsecured Interest Expense for the applicable period shall not
be less than 1.75 to 1.0.

§10.7. Occupancy. Eligible Unencumbered Properties (other than any Real Estate Asset
Under Development included in the Unencumbered Pool) shall at all times maintain a stabilized
occupancy of 80% in the aggregate, provided that (i) any Eligible Unencumbered Property
acquired after the date hereof during the first half of any quarter shall be excluded from the
foregoing calculation for the fiscal quarter in which it was acquired and for the immediately
following fiscal quarter, and (ii) any Eligible Unencumbered Property acquired after the date
hereof during the last half of any quarter shall be excluded from the foregoing calculation for the
fiscal quarter in which it was acquired and for the immediately two following fiscal quarters.
Notwithstanding the foregoing, for any testing period through the period ending December 31, 2006,
the Real Estate Asset commonly known as 2000 Gateway Boulevard will be excluded from Eligible
Unencumbered Properties for purposes of this covenant.

§11. [Reserved.]

§12. CONDITIONS TO THE FIRST ADVANCE. The obligations of any Lender to make the
initial Revolving Credit Loans and of the Fronting Bank to issue any initial Letters of Credit (and
to maintain the existing outstanding Loans and Letters of Credit) shall be subject to the
satisfaction of the following conditions precedent on or prior to the Closing Date with, in each
instance, the Agent, acting on behalf of the Lenders, having approved in its sole discretion each
matter submitted to it in compliance with such conditions:

§12.1. Loan Documents. Each of the Loan Documents shall have been duly executed and
delivered by the respective parties thereto and shall be in full force and effect.

§12.2. Certified Copies of Organization Documents. The Agent shall have received (i)
from the Borrower a copy, certified as of a recent date by a duly authorized officer of the Trust,
in its capacity as general partner of the Borrower, to be true and complete, of the Agreement of
Limited Partnership of FPLP and any other Organizational Document or other agreement governing the
rights of the partners or other equity owners of the Borrower, and (ii) from the Trust a copy,
certified as of a recent date by the appropriate officer of the State of Maryland to be true and
correct, of the corporate charter of the Trust, in each case along with any other organization
documents of the Borrower or the Trust and their respective general partners, as the case may be,
and each as in effect on the date of such certification.

§12.3. By-laws; Resolutions. All action on the part of the Borrower and the Trust
necessary for the valid execution, delivery and performance by the Borrower and the Trust of this
Agreement and the other Loan Documents to which any of them is or is to become a party shall have
been duly and effectively taken, and evidence thereof satisfactory to the Agent shall have been
provided to the Agent. The Agent shall have received from the Trust true copies of its by-laws and
the resolutions adopted by its board of directors or trustees authorizing the transactions
described herein and evidencing the due authorization, execution and delivery of the Loan Documents
to which the Trust and/or the Borrower is a party, each certified by the secretary as of a recent
date to be true and complete.

§12.4. Incumbency Certificate; Authorized Signers. The Agent shall have received from
the Trust an incumbency certificate, dated as of the Closing Date, signed by a duly authorized
officer of the Trust and giving the name of each individual who shall be authorized: (a) to sign,
in the name and on behalf of the Borrower and the Trust, as the case may be, each of the Loan
Documents to which the Borrower or the Trust is or is to become a party; (b) to make Loan and
Conversion Requests on behalf of the Borrower and (c) to give notices and to take other action on
behalf of the Borrower or the Trust, as applicable, under the Loan Documents.

§12.5. Opinion of Counsel Concerning Organization and Loan Documents. Each of the
Lenders and the Agent shall have received favorable opinions addressed to the Lenders and the Agent
in form and substance reasonably satisfactory to the Lenders and the Agent from Armstrong Teasdale
LLP and, if any, state specific local counsel who are reasonably satisfactory to Agent, each as
counsel to the Borrower, the Trust and their respective Subsidiaries, with respect to applicable
law.

§12.6. Guaranty. The Guaranty shall have been duly executed and delivered by the
Trust.

§12.7. Financial Analysis of Eligible Unencumbered Properties. Each of the Lenders
shall have completed to its satisfaction, a financial analysis of each Eligible Unencumbered
Property.

§12.8. Inspection of Eligible Unencumbered Properties. The Agent shall have
completed to its satisfaction an inspection of the Eligible Unencumbered Properties at the
Borrower’s expense. The Agent shall distribute to the Lenders any written reports resulting from
any such inspections.

§12.9. Certifications from Government Officials; UCC-11 Reports.

The Agent shall have received (i) long-form certifications from government officials
evidencing the legal existence, good standing and foreign qualification of the Borrower and the
Trust, along with a certified copy of the certificate of limited partnership of the Borrower, all
as of the most recent practicable date; and (ii) UCC-11 search results from the appropriate
jurisdictions for the Borrower and the Trust.

§12.10. Proceedings and Documents. All proceedings in connection with the
transactions contemplated by this Agreement, the other Loan Documents and all other documents
incident thereto shall be satisfactory in form and substance to each of the Lenders and to the
Agent’s counsel, and the Agent, each of the Lenders and such counsel shall have received all
information and such counterpart originals or certified or other copies of such documents as the
Agent may reasonably request.

§12.11. Fees. The Borrower shall have paid to the Agent, for the accounts of the
Lenders or for its own account, as applicable, all of the fees and expenses that are due and
payable as of the Closing Date in accordance with this Agreement or any separate fee letter entered
into by the Borrower and the Trust and the Agent.

§12.12. Closing Certificate. The Borrower and the Guarantor shall have delivered a
Closing Certificate to the Agent, in form and substance satisfactory to the Agent, including,
without limitation, a certification that as of the Closing Date, the Borrower is not in default
under any Indebtedness.

§12.13. Other Matters. The Borrower and the Guarantor shall have delivered to the
Agent, in form and substance satisfactory to the Agent, such other information, documents,
certificates and other items reasonably requested by the Agent.

§13. CONDITIONS TO ALL BORROWINGS. The obligations of any Lender to make any Loan,
and of the Fronting Bank to issue any Letter of Credit, whether on or after the Closing Date, shall
also be subject to the satisfaction of the following conditions precedent:

§13.1. Representations True; No Event of Default; Compliance Certificate. Each of the
representations and warranties made by or on behalf of the Borrower, the Trust or any of their
respective Subsidiaries contained in this Agreement, the other Loan Documents or in any document or
instrument delivered pursuant to or in connection with this Agreement shall be true as of the date
as of which they were made and shall also be true at and as of the time of the making of each Loan,
and the issuance, extension or renewal of any Letter of Credit, with the same effect as if made at
and as of that time (except to the extent that such representations and warranties relate expressly
to an earlier date); and no Default or Event of Default under this Agreement shall have occurred
and be continuing on the date of any Completed Loan Request or on the Drawdown Date of any Loan or
Letter of Credit.

§13.2. No Legal Impediment. No change shall have occurred any law or regulations
thereunder or interpretations thereof that in the reasonable opinion of the Agent or any Lender or
the Fronting Bank would make it illegal for any Lender to make such Loan or to participate in the
issuance, extension or renewal of such Letter of Credit or, in the reasonable opinion of the Agent,
would make it illegal to issue, extend or renew such Loan or Letter of Credit.

§13.3. Governmental Regulation. Each Lender shall be satisfied that the making of
such Loan or participation in the issuance, extension or renewal of such Letter of Credit is in
compliance with any applicable regulations of the Comptroller of the Currency or the Board of
Governors of the Federal Reserve System.

§13.4. Borrowing Documents. In the case of any request for a Revolving Credit Loan or
a Letter of Credit, the Agent shall have received the Completed Loan Request and required
certificates.

§13.5. [Reserved.]

§13.6. New Unencumbered Pool Property. To the extent the Completed Loan Request is
for a funding based upon any new Real Estate Asset being part of the Unencumbered Pool, the Agent
shall have determined that the Unecumbered Property Conditions and the terms of Section 8.13(c)
have been satisfied with respect to such Real Estate Asset.

§13.7. Continued Compliance. To the extent deemed applicable by the Agent, the
conditions of Section 12 shall remain or be satisfied.

§14. EVENTS OF DEFAULT; ACCELERATION; ETC.

§14.1. Events of Default and Acceleration. If any of the following events (“Events of
Default”) shall occur:

(a) the Borrower shall fail to pay any principal of any Loans when the same shall become due
and payable, whether at the stated date of maturity or any accelerated date of maturity or at any
other date fixed for payment;

(b) the Borrower shall fail to pay any interest on the Loans or any other sums due hereunder
or under any of the other Loan Documents or any fee letter (including, without limitation, amounts
due under §8.16) when the same shall become due and payable, and such failure continues for three
(3) days;

(c) the Borrower, the Trust or any of their respective Subsidiaries shall fail to comply, or
to cause the Trust to comply, as the case may be, with any of the respective covenants contained in
the following: §8.1 (except with respect to principal, interest and other sums covered by clauses
(a) or (b) above); §8.2; §§8.4 through §8.10, inclusive; §8.12; §8.13; §8.15; §8.19; §8.20; §9; §10
and §11;

(d) the Borrower, the Trust or any of their respective Subsidiaries shall fail to perform any
other term, covenant or agreement contained herein or in any of the other Loan Documents (other
than those specified elsewhere in this §14) and such failure continues for thirty (30) days;

(e) any representation or warranty made by or on behalf of the Borrower, the Trust or any of
their respective Subsidiaries in this Agreement or any of the other Loan Documents shall prove to
have been false in any material respect upon the date when made or deemed to have been made or
repeated;

(f) the Borrower, the Trust or any of its Subsidiaries or, to the extent of Recourse to the
Borrower, the Trust or such Subsidiaries thereunder, any Partially-Owned Entity or other of their
respective Affiliates, shall fail to pay at maturity, or within any applicable period of grace, any
Indebtedness for borrowed money or credit received or in respect of any Capitalized Leases, which
is in excess of (i) $25,000,000, either individually or in the aggregate, if such Indebtedness is
Without Recourse and (ii) $5,000,000, either individually or in the aggregate, if such Indebtedness
is Recourse, or fail to observe or perform any material term, covenant, condition or agreement
contained in any agreement, document or instrument by which it is bound evidencing, securing or
otherwise relating to such Indebtedness or Recourse obligations, evidencing or securing borrowed
money or credit received or in respect of any Capitalized Leases for such period of time (after the
giving of appropriate notice if required) as would permit the holder or holders thereof or of any
obligations issued thereunder in excess of (i) $25,000,000, either individually or in the
aggregate, if such Indebtedness is without Recourse and (ii) $5,000,000, either individually or in
the aggregate, if such Indebtedness is Recourse, to accelerate the maturity thereof;

(g) any of FPLP, the Trust or any of their respective Subsidiaries shall make an assignment
for the benefit of creditors, or admit in writing its inability to pay or generally fail to pay its
debts as they mature or become due, or shall petition or apply for the appointment of a trustee or
other custodian, liquidator or receiver of any of FPLP, the Trust or any of their respective
Subsidiaries or of any substantial part of the properties or assets of any of such parties or shall
commence any case or other proceeding relating to any of the FPLP, the Trust or any of their
respective Subsidiaries under any bankruptcy, reorganization, arrangement, insolvency, readjustment
of debt, dissolution or liquidation or similar law of any jurisdiction, now or hereafter in effect,
or shall take any action to authorize or in furtherance of any of the foregoing, or if any such
petition or application shall be filed or any such case or other proceeding shall be commenced
against any of FPLP, the Trust or any of their respective Subsidiaries and (i) any of FPLP, the
Trust or any of their respective Subsidiaries shall indicate its approval thereof, consent thereto
or acquiescence therein or (ii) any such petition, application, case or other proceeding shall
continue undismissed, or unstayed and in effect, for a period of forty-five (45) days;

(h) a decree or order is entered appointing any trustee, custodian, liquidator or receiver or
adjudicating any of FPLP, the Trust or any of their respective Subsidiaries bankrupt or insolvent,
or approving a petition in any such case or other proceeding, or a decree or order for relief is
entered in respect of any of FPLP, the Trust or any of their respective Subsidiaries in an
involuntary case under federal bankruptcy laws as now or hereafter constituted;

(i) there shall remain in force, undischarged, unsatisfied and unstayed, for more than thirty
(30) days, whether or not consecutive, any uninsured final judgment against any of FPLP, the Trust
or any of their respective Subsidiaries that, with other outstanding uninsured final judgments,
undischarged, unsatisfied and unstayed, against any of such parties exceeds in the aggregate
$2,000,000;

(j) any of the Loan Documents or any material provision of any Loan Document shall be
canceled, terminated, revoked or rescinded otherwise than in accordance with the terms thereof or
with the express prior written agreement, consent or approval of the Agent, or any action at law,
suit or in equity or other legal proceeding to make unenforceable, cancel, revoke or rescind any of
the Loan Documents shall be commenced by or on behalf of the Borrower or any of its Subsidiaries or
the Trust or any of its Subsidiaries, or any court or any other governmental or regulatory
authority or agency of competent jurisdiction shall make a determination that, or issue a judgment,
order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal,
invalid or unenforceable as to any material terms thereof;

(k) any “Event of Default” or default (after notice and expiration of any period of grace, to
the extent provided, as defined or provided in any of the other Loan Documents, shall occur and be
continuing;

(l) with respect to any Guaranteed Pension Plan, an ERISA Reportable Event shall have occurred
and the Majority Lenders shall have determined in their reasonable discretion that such event
reasonably could be expected to result in liability of the Borrower or any of its Subsidiaries or
the Trust or any of its Subsidiaries to the PBGC or such Guaranteed Pension Plan in an aggregate
amount exceeding $2,000,000 and such event in the circumstances occurring reasonably could
constitute grounds for the termination of such Guaranteed Pension Plan by the PBGC or for the
appointment by the appropriate United States District Court of a trustee to administer such
Guaranteed Pension Plan; or a trustee shall have been appointed by the United States District Court
to administer such Plan; or the PBGC shall have instituted proceedings to terminate such Guaranteed
Pension Plan;

(m) subject to the Borrower’s ability to remove Real Estate Assets from the Unencumbered Pool
in accordance with the provisions set forth below in this §14, the failure of any of the Real
Estate Assets being included from time to time as part of the Unencumbered Pool to comply with any
of the conditions set forth in the definition of Eligible Unencumbered Properties;

(n) the failure of any two of (i) Douglas Donatelli, for any reason, to cease to retain the
titles of President, Chief Executive Officer and Trustee of the Trust, or (ii) Nicholas R. Smith,
for any reason, to cease to retain the titles of Executive Vice President and Chief Investment
Officer, or (iii) Barry H. Bass, for any reason, to cease to retain the titles of Senior Vice
President and Chief Financial Officer, and in each case, to perform the functions typically
performed under such respective offices and to be actively involved in strategic planning and
decision-making for the Trust, unless within six (6) months after such failure, the Board of
Directors or Board of Trustees has duly elected or appointed a qualified substitute to replace such
individual who is acceptable to the Majority Lenders in their sole discretion (as notified to the
Borrower by the Agent in writing); or the occurrence of any transaction in which any “person” or
“group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934)
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of
1934), directly or indirectly, of a sufficient number of shares of all classes of stock then
outstanding of the Trust ordinarily entitled to vote in the election of directors, empowering such
“person” or “group” to elect a majority of the Board of Directors or Board of Trustees of the
Trust, who did not have such power before such transaction; or during any twelve-month period on or
after the Closing Date, individuals who at the beginning of such period constituted the Board of
Trustees of the Trust (together with any new directors whose election by the Board of Trustees or
whose nomination for election by the shareholders of the Trust was approved by a vote of at least a
majority of the members of the Board of Trustees then in office who either were members of the
Board of Trustees at the beginning of such period or whose election or nomination for election was
previously so approved) ceased for any reason to constitute a majority of the members of the Board
of Trustees of the Trust then in office; or

(o) without limitation of the other provisions of this §14.1, the Trust shall at any time fail
to be the sole general partner of FPLP or shall at any time be in contravention of any of the
requirements contained in the last paragraph of §9.2 hereof, or §9.3 (including, without
limitation, the last paragraph of §9.3);

then, and in any such event, so long as the same may be continuing, the Agent may, and upon
the request of the Majority Lenders shall, declare all amounts owing with respect to this
Agreement, the Notes and the other Loan Documents to be, and they shall thereupon forthwith become,
immediately due and payable without presentment, demand, protest or other notice of any kind, all
of which are hereby expressly waived by the Borrower, the Trust and each of their respective
Subsidiaries; provided that in the event of any Event of Default specified in §14.1(g) or
14.1(h), all such amounts shall become immediately due and payable automatically and without any
requirement of notice from any of the Lenders or the Agent or action by the Lenders or the Agent.

Notwithstanding the foregoing provisions of this §14.1, in the event of a Default or Event of
Default arising as a result of the inclusion of any Real Estate Asset in the Unencumbered Pool at
any particular time of reference, if such Default or Event of Default is capable of being cured by
the exclusion of such Real Estate Asset from the Unencumbered Pool in accordance with, and subject
to, §8.13 and from all other covenant calculations under §10 or otherwise, the Borrower shall be
permitted a period not to exceed five (5) days to submit to the Agent (with copies to the Agent for
each Lender) a compliance certificate in the form of Exhibit C hereto evidencing compliance
with §2.1 and with all of the covenants set forth in §10 (with calculations evidencing such
compliance after excluding from Adjusted Net Operating Income all of the Adjusted Net Operating
Income generated by the Real Estate Asset to be excluded from the Unencumbered Pool) and with the
Unencumbered Property Conditions, and otherwise certifying that, after giving effect to the
exclusion of such Real Estate Asset from the Unencumbered Pool, no Default or Event of Default will
be continuing.

§14.2. Termination of Commitments. If any one or more Events of Default specified in
§14.1(g) or §14.1(h) shall occur, any unused portion of the Commitments or other commitments to
extend credit hereunder shall forthwith terminate and the Lenders shall be relieved of all
obligations to make Loans to the Borrower and the Agent and the Fronting Bank shall be relieved of
all further obligations to issue, extend or renew Letters of Credit. If any other Event of Default
shall have occurred and be continuing, the Agent may, and upon the request of the Majority Lenders
shall, terminate the unused portion of the Commitments or other commitment to extend credit
hereunder. No such termination of the Commitments or other commitment to extend credit hereunder
shall relieve the Borrower of any of the Obligations or any of its existing obligations to the
Agent or the Lenders arising under other agreements or instruments.

§14.3. Remedies. In the event that one or more Events of Default shall have occurred
and be continuing, whether or not the Lenders shall have accelerated the maturity of the Loans
pursuant to §14.1, the Majority Lenders may direct the Agent to proceed to protect and enforce the
rights and remedies of the Agent and the Lenders under this Agreement, the Notes, any or all of the
other Loan Documents or under applicable law by suit in equity, action at law or other appropriate
proceeding (including for the specific performance of any covenant or agreement contained in this
Agreement or the other Loan Documents or any instrument pursuant to which the Obligations are
evidenced and, to the full extent permitted by applicable law, the obtaining of the ex
parte appointment of a receiver), and, if any amount shall have become due, by declaration or
otherwise, proceed to enforce the payment thereof or any other legal or equitable right or remedy
of the Agent and the Lenders under the Loan Documents or applicable law. No remedy herein
conferred upon the Lenders or the Agent or the holder of any Note or purchaser of any Letter of
Credit Participation is intended to be exclusive of any other remedy and each and every remedy
shall be cumulative and shall be in addition to every other remedy given hereunder or under any of
the other Loan Documents or now or hereafter existing at law or in equity or by statute or any
other provision of law.

§15. SECURITY INTEREST AND SET-OFF.

§15.1 Security Interest. Borrower hereby grants to the Agent, on behalf of and for
the benefit of the Lenders, and to each Lender, a lien, security interest and right of setoff as
security for all liabilities and obligations to the Lenders, whether now existing or hereafter
arising, upon and against all deposits, credits, collateral and property, now or hereafter in the
possession, custody, safekeeping or control of the Agent or any Lender or any entity under the
control of KeyCorp. and its successors and assigns, or in transit to any of them.

§15.2 Set-Off and Debit. (i) If any Event of Default or other event which would
entitle the Agent to accelerate the Loans occurs, or (ii) at any time, whether or not any Default
or Event of Default exists, in the event any attachment, trustee process, garnishment, or other
levy or lien is, or is sought to be, imposed on any property of the Borrower; then, in any such
event, any such deposits, balances or other sums credited by or due from the Agent or any Lender,
or from any such affiliate of the Agent or any Lender, to the Borrower may to the fullest extent
not prohibited by applicable law at any time or from time to time, without regard to the existence,
sufficiency or adequacy of any other collateral, and without notice or compliance with any other
condition precedent now or hereafter imposed by statute, rule of law or otherwise, all of which are
hereby waived, be set off, debited and appropriated, and applied by the Agent or any Lender, as the
case may be, against any or all of the Obligations irrespective of whether demand shall have been
made and although such Obligations may be unmatured, in such manner as the Agent or the applicable
Lender in its sole and absolute discretion may determine. Within five (5) Business Days of making
any such set off, debit or appropriation and application, the Agent agrees to notify the Borrower
thereof, provided that the failure to give such notice shall not affect the validity of
such set off, debit or appropriation and application. ANY AND ALL RIGHTS TO REQUIRE THE AGENT OR
ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES
THE LOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER
PROPERTY OF THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. Each of the
Lenders agrees with each other Lender that (a) if an amount to be set off is to be applied to
indebtedness of the Borrower to such Lender, other than the obligations evidenced by the Note held
by such Lender, such amount shall be applied ratably to such other indebtedness and to the
obligations evidenced by the Note held by such Lender, and (b) if such Lender shall receive from
the Borrower, whether by voluntary payment, exercise of the right of setoff, counterclaim, cross
action, enforcement of the claim evidenced by the Note held by such Lender by proceedings against
the Borrower at law or in equity or by proof thereof in bankruptcy, reorganization liquidation,
receivership or similar proceedings, or otherwise, and shall retain and apply to the payment of the
Note held by such Lender any amount in excess of its ratable portion of the payments received by
all of the Lenders with respect to the Note held by all of the Lenders, such Lender will make such
disposition and arrangements with the other Lenders with respect to such excess, either by way of
distribution, pro tanto assignment of claims, subrogation or otherwise as shall result in each
Lender receiving in respect of the Note held by it its proportionate payment as contemplated by
this Agreement; provided that if all or any part of such excess payment is thereafter recovered
from such Lender, such disposition and arrangements shall be rescinded and the amount restored to
the extent of such recovery, but without interest.

§15.3 Right to Freeze. The Agent and each of the Lenders shall also have the right,
at its option, upon the occurrence of any event which would entitle the Agent or any Lender to set
off or debit as set forth in §15.2, to freeze, block or segregate any such deposits, balances and
other sums so that the Borrower may not access, control or draw upon the same.

§15.4 Additional Rights. The rights of the Agent, the Lenders and each affiliate of
Administrative Agent and each of the Lenders under this Section 15 are in addition to, and not in
limitation of, other rights and remedies, including other rights of set off, which the Agent or any
Lender may have.

§16. THE AGENT.

§16.1. Authorization. (a) The Agent is authorized to take such action on behalf of
each of the Lenders and to exercise all such powers as are hereunder and under any of the other
Loan Documents and any related documents delegated to the Agent, together with such powers as are
reasonably incident thereto, provided that no duties or responsibilities not expressly
assumed herein or therein shall be implied to have been assumed by the Agent. The relationship
between the Agent and the Lenders is and shall be that of agent and principal only, and nothing
contained in this Agreement or any of the other Loan Documents shall be construed to constitute the
Agent as a trustee or fiduciary for any Lender.

(b) The Borrower, without further inquiry or investigation, shall, and is hereby authorized by
the Lenders to, assume that all actions taken by the Agent hereunder and in connection with or
under the Loan Documents are duly authorized by the Lenders. The Lenders shall notify Borrower of
any successor to Agent by a writing signed by Majority Lenders, which successor shall be reasonably
acceptable to the Borrower so long as no Default or Event of Default has occurred and is
continuing. The Borrower acknowledges that any Lender which acquires KeyBank is acceptable as a
successor to the Agent.

§16.2. Employees and Agents. The Agent may exercise its powers and execute its duties
by or through employees or agents and shall be entitled to take, and to rely on, advice of counsel
concerning all matters pertaining to its rights and duties under this Agreement and the other Loan
Documents. The Agent may utilize the services of such Persons as the Agent in its sole discretion
may reasonably determine, and all reasonable fees and expenses of any such Persons shall be paid by
the Borrower.

§16.3. No Liability. Neither the Agent, nor any of its shareholders, directors,
officers or employees nor any other Person assisting them in their duties nor any agent or employee
thereof, shall be liable for any waiver, consent or approval given or any action taken, or omitted
to be taken, in good faith by it or them hereunder or under any of the other Loan Documents, or in
connection herewith or therewith, or be responsible for the consequences of any oversight or error
of judgment whatsoever, except that the Agent may be liable for losses due to its willful
misconduct or gross negligence, as finally determined by a court of competent jurisdiction.

§16.4. No Representations. The Agent shall not be responsible for the execution or
validity or enforceability of this Agreement, the Notes or any of the other Loan Documents or for
the validity, enforceability or collectibility of any such amounts owing with respect to the Notes,
or for any recitals or statements, warranties or representations made herein or in any of the other
Loan Documents or in any certificate or instrument hereafter furnished to it by or on behalf of the
Trust or the Borrower or any of their respective Subsidiaries, or be bound to ascertain or inquire
as to the performance or observance of any of the terms, conditions, covenants or agreements in
this Agreement or the other Loan Documents. The Agent shall not be bound to ascertain whether any
notice, consent, waiver or request delivered to it by the Borrower or the Trust or any holder of
any of the Notes shall have been duly authorized or is true, accurate and complete. The Agent has
not made nor does it now make any representations or warranties, express or implied, nor does it
assume any liability to the Lenders, with respect to the credit worthiness or financial condition
of the Borrower or any of its Subsidiaries or the Trust or any of the Subsidiaries or any tenant
under a Lease or any other entity. Each Lender acknowledges that it has, independently and without
reliance upon the Agent or any other Lender, and based upon such information and documents as it
has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.

§16.5. Payments.

(a) A payment by the Borrower to the Agent hereunder or any of the other Loan Documents for
the account of any Lender shall constitute a payment to such Lender on the date received, if before
1:00 p.m. (Cleveland, Ohio time), and if after 1:00 p.m. (Cleveland, Ohio time), on the next
Business Day. The Agent agrees to distribute to each Lender such Lender’s pro rata share
of payments received by the Agent for the accounts of all the Lenders, as provided herein or in any
of the other Loan Documents. All such payments by the Agent to the Lenders shall be made on the
date received, if before 1:00 p.m., and if after 1:00 p.m., on the next Business Day.

(b) If in the reasonable opinion of the Agent the distribution of any amount received by it in
such capacity hereunder, under the Notes or under any of the other Loan Documents might involve it
in material liability, it may refrain from making distribution until its right to make distribution
shall have been adjudicated by a court of competent jurisdiction, provided that the Agent
shall invest any such undistributed amounts in overnight obligations on behalf of the Lenders and
interest thereon shall be paid pro rata to the Lenders. If a court of competent
jurisdiction shall adjudge that any amount received and distributed by the Agent is to be repaid,
each Person to whom any such distribution shall have been made shall either repay to the Agent its
proportionate share of the amount so adjudged to be repaid or shall pay over the same in such
manner and to such Persons as shall be determined by such court.

(c) Notwithstanding anything to the contrary contained in this Agreement or any of the other
Loan Documents, any Lender that fails (i) to make available to the Agent its pro
rata share of any Loan or to purchase any Letter of Credit Participation or its
participation in one or more Swingline Loans or (ii) to adjust promptly such Lender’s outstanding
principal and its pro rata Commitment Percentage as provided in §2.1, shall be deemed
delinquent (a “Delinquent Lender”) and shall be deemed a Delinquent Lender until such time as such
delinquency is satisfied. A Delinquent Lender shall be deemed to have assigned any and all
payments due to it from the Borrower, whether on account of outstanding Loans, interest, fees or
otherwise, to the remaining nondelinquent Lenders for application to, and reduction of, their
respective pro rata shares of all outstanding Loans. The Delinquent Lender hereby
authorizes the Agent to distribute such payments to the nondelinquent Lenders in proportion to
their respective pro rata shares of all outstanding Loans. If not previously
satisfied directly by the Delinquent Lender, a Delinquent Lender shall be deemed to have satisfied
in full a delinquency when and if, as a result of application of the assigned payments to all
outstanding Loans of the nondelinquent Lenders, the Lenders’ respective pro rata shares of
all outstanding Loans have returned to those in effect immediately prior to such delinquency and
without giving effect to the nonpayment causing such delinquency. The Commitment of any Delinquent
Lender shall be excluded for purposes of making a determination of Majority Lenders or Unanimous
Lender Approval. At the written request of the Borrower, the Agent or, with the consent of the
Agent, any Lender or an Eligible Assignee, shall have the right (but not the obligation) to
purchase from any Delinquent Lender, and each Delinquent Lender shall, upon such request, sell and
assign to the Agent, such Lender or such Eligible Assignee, all of the Delinquent Lender’s
outstanding Loans and participations in Letters of Credit and Swingline Loans hereunder. Such sale
shall be consummated promptly after the Agent has arranged for a purchase by the Agent, a Lender or
an Eligible Assignee pursuant to an Assignment and Assumption, and at a price equal to the
outstanding principal balance of the Delinquent Lender’s Loans plus accrued interest and fees,
without premium or discount.

§16.6. Holders of Notes. The Agent may deem and treat the payee of any Notes or the
Purchaser of any Letter of Credit Participation as the absolute owner or purchaser thereof for all
purposes hereof until it shall have been furnished in writing with a different name by such payee
or by a subsequent holder, assignee or transferee.

§16.7. Indemnity. The Lenders ratably and severally agree hereby to indemnify and
hold harmless the Agent and its Affiliates from and against any and all claims, actions and suits
(whether groundless or otherwise), losses, damages, costs, expenses (including any expenses for
which the Agent has not been reimbursed by the Borrower as required by §17), and liabilities of
every nature and character arising out of or related to this Agreement, the Notes, or any of the
other Loan Documents or the transactions contemplated or evidenced hereby or thereby, or the
Agent’s actions taken hereunder or thereunder, except to the extent that any of the same shall be
directly caused by the Agent’s willful misconduct or gross negligence, as finally determined by a
court of competent jurisdiction.

§16.8. Agent as Lender. In its individual capacity as a Lender, KeyBank shall have
the same obligations and the same rights, powers and privileges in respect to its Commitment and
the Loans made by it, and as the holder of any of the Notes and as the purchaser of any Letter of
Credit Participation, as it would have were it not also the Agent.

§16.9. Notification of Defaults and Events of Default. Each Lender hereby agrees
that, upon learning of the existence of a Default or an Event of Default, it shall (to the extent
notice has not previously been provided) promptly notify the Agent thereof. The Agent hereby
agrees that upon receipt of any notice under this §16.9 it shall promptly notify the other Lenders
of the existence of such Default or Event of Default.

§16.10. Duties in Case of Enforcement. In the case one or more Events of Default
have occurred and shall be continuing, and whether or not acceleration of the Obligations shall
have occurred, the Agent shall, at the request, or may, upon the consent, of the Majority Lenders,
and provided that the Lenders have given to the Agent such additional indemnities and assurances
against expenses and liabilities as the Agent may reasonably request, proceed to enforce the
provisions of this Loan Agreement and the other Loan Documents and the exercise of any other legal
or equitable rights or remedies as it may have hereunder or under any other Loan Document or
otherwise by virtue of applicable law, or to refrain from so acting if similarly requested by the
Majority Lenders. The Agent shall be fully protected in so acting or refraining from acting upon
the instruction of the Majority Lenders, and such instruction shall be binding upon all the
Lenders. The Majority Lenders may direct the Agent in writing as to the method and the extent of
any such foreclosure, sale or other disposition or the exercise of any other right or remedy, the
Lenders hereby agreeing to severally indemnify and hold the Agent harmless from all costs and
liabilities incurred in respect of all actions taken or omitted in accordance with such direction,
provided that the Agent need not comply with any such direction to the extent that the
Agent reasonably believes the Agent’s compliance with such direction may expose the Agent to
liability or be contrary to the Loan Documents or applicable law. The Agent may, in its discretion
but without obligation, in the absence of direction from the Majority Lenders, take such interim
actions as it believes reasonably necessary to preserve the rights of the Lenders hereunder,
including but not limited to petitioning a court for injunctive relief or appointment of a
receiver. Each of the Lenders acknowledges and agrees that, except for any rights of set-off
pursuant to and in accordance with §15.2 hereof, no individual Lender may separately enforce or
exercise any of the provisions of any of the Loan Documents, including without limitation the
Notes, other than through the Agent. The Agent shall advise the Lenders of all such action taken
by the Agent.

§16.11. Successor Agent. KeyBank, or any successor Agent, may resign as Agent at any
time by giving at least 30 days prior written notice thereof to the Lenders and to the Borrower.
Any such resignation shall be effective upon appointment and acceptance of a successor Agent, as
hereinafter provided, and, at the request of the Majority Lenders, the Agent will resign if its
Commitment is less than $20,000,000, unless such circumstance is a result of events other than the
sale by the Agent of its Commitment below $20,000,000. Upon any such resignation, the Majority
Lenders shall have the right to appoint a successor Agent, which is a Lender under this Agreement,
provided that so long as no Default or Event of Default has occurred and is continuing the
Borrower shall have the right to approve any successor Agent, which approval shall not be
unreasonably withheld. If, in the case of a resignation by the Agent, no successor Agent shall
have been so appointed by the Majority Lenders and approved by the Borrower, and shall have
accepted such appointment, within thirty (30) days after the retiring Agent’s giving of notice of
resignation, then the retiring Agent may, on behalf of the Lenders, appoint any one of the other
Lenders as a successor Agent. The Borrower acknowledges that any Lender which acquires KeyBank is
acceptable as a successor Agent. Upon the acceptance of any appointment as Agent hereunder by a
successor Agent, such successor Agent shall thereupon succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be
discharged from all further duties and obligations as Agent under this Agreement. After any
Agent’s resignation hereunder as Agent, the provisions of this §16 shall inure to its benefit as to
any actions taken or omitted to be taken by it while it was Agent under this Agreement. The Agent
agrees that it shall not assign any of its rights or duties as Agent to any other Person. The Agent
may be removed at the direction of the Majority Lenders in the event of a final judicial
determination (in which the Agent had an opportunity to be heard) that the Agent had acted in a
grossly negligent manner or in willful misconduct.

§16.12. Notices. Any notices or other information required hereunder to be provided
to the Agent (with copies to the Agent for each Lender) shall be forwarded by the Agent to each of
the Lenders on the same day (if practicable) and, in any case, on the next Business Day following
the Agent’s receipt thereof.

§16.13. Other Agents. Neither the Syndication Agent nor the Co-Documentation Agents
shall have any liabilities or obligations hereunder in its capacity as such.

§17. EXPENSES. The Borrower agrees to pay (a) the reasonable costs of producing and
reproducing this Agreement, the other Loan Documents and the other agreements and instruments
mentioned herein, (b) the reasonable fees, expenses and disbursements of the Agent’s outside
counsel or any local counsel to the Agent incurred in connection with the preparation,
administration or interpretation of the Loan Documents and other instruments mentioned herein, each
closing hereunder, and amendments, modifications, approvals, consents or waivers hereto or
hereunder, (c) the fees, expenses and disbursements of the Agent incurred by the Agent in
connection with the preparation, administration or interpretation of the Loan Documents and other
instruments mentioned herein, including, without limitation, the costs incurred by the Agent in
connection with its inspection of the Eligible Unencumbered Properties, and, without
double-counting amounts under clause (b) above, the fees and disbursements of the Agent’s counsel
in preparing the documentation, (d) the fees, costs, expenses and disbursements of the Agent and
its Affiliates incurred in connection with the syndication and/or participations of the Loans
(whether occurring before or after the closing hereunder), including, without limitation,
reasonable legal fees, travel costs, costs of preparing syndication materials and photocopying
costs, (e) all reasonable expenses (including reasonable attorneys’ fees and costs, which attorneys
may be employees of any Lender or the Agent, and the fees and costs of engineers, appraisers,
surveyors, investment bankers, or other experts retained by any Lender or the Agent in connection
with any such enforcement proceedings) incurred by any Lender or the Agent in connection with (i)
the enforcement of or preservation of rights under any of the Loan Documents against the Borrower
or any of its Subsidiaries or the Trust or the administration thereof after the occurrence and
during the continuance of a Default or Event of Default (including, without limitation, expenses
incurred in any restructuring and/or “workout” of the Loans), and (ii) any litigation, proceeding
or dispute whether arising hereunder or otherwise, in any way related to any Lender’s or the
Agent’s relationship with the Borrower or any of its Subsidiaries or the Trust, (f) all reasonable
fees, expenses and disbursements of the Agent incurred in connection with UCC searches and filings,
UCC terminations or mortgage discharges, and the like, and (g) all costs incurred by the Agent in
the future in connection with its inspection of the Eligible Unencumbered Properties (or any
proposed Eligible Unencumbered Property) or with the addition of any Eligible Unencumbered
Property. The covenants of this §17 shall survive the repayment of the amounts owing under the
Notes and this Agreement and the termination of this Agreement and the obligations of the Lenders
hereunder.

§18. INDEMNIFICATION. The Borrower agrees to indemnify and hold harmless the Agent
and each of the Lenders and the shareholders, directors, agents, officers, subsidiaries and
affiliates of the Agent and each of the Lenders from and against any and all claims, actions and
suits, whether groundless or otherwise, and from and against any and all liabilities, losses
(including amounts, if any, owing to any Lender pursuant to §§4.4, 4.5, 4.6 and 4.8), settlement
payments, obligations, damages and expenses of every nature and character in connection therewith,
arising out of this Agreement or any of the other Loan Documents or the transactions contemplated
hereby or thereby or which otherwise arise in connection with the financing, including, without
limitation, (a) any actual or proposed use by the Borrower or any of its Subsidiaries of the
proceeds of any of the Loans, (b) the Borrower or any of its Subsidiaries entering into or
performing this Agreement or any of the other Loan Documents, or (c) pursuant to §8.16, in each
case including, without limitation, the reasonable fees and disbursements of counsel and allocated
costs of internal counsel incurred in connection with any such investigation, litigation or other
proceeding, provided, however, that the Borrower shall not be obligated under this §18 to
indemnify any Person for liabilities arising from such Person’s own gross negligence, willful
misconduct or breach of this Agreement, as finally determined by a court of competent jurisdiction.
In litigation, or the preparation therefor, the Borrower shall be entitled to select counsel
reasonably acceptable to the Majority Lenders, and the Agent (as approved by the Majority Lenders)
shall be entitled to select their own supervisory counsel, and, in addition to the foregoing
indemnity, the Borrower agrees to pay promptly the reasonable fees and expenses of each such
counsel. Prior to any settlement of any such litigation by the Lenders, the Lenders shall provide
the Borrower and the Trust with notice and an opportunity to address any of their concerns with the
Lenders, and the Lenders shall not settle any litigation without first obtaining Borrower’s consent
thereto, which consent shall not be unreasonably withheld or delayed, provided that such
consent shall not be required at any time that an Event of Default has occurred and is continuing.
If and to the extent that the obligations of the Borrower under this §18 are unenforceable for any
reason, the Borrower hereby agrees to make the maximum contribution to the payment in satisfaction
of such obligations which is permissible under applicable law. The provisions of this §18 shall
survive the repayment of the amounts owing under the Notes and this Agreement and the termination
of this Agreement and the obligations of the Lenders hereunder and shall continue in full force and
effect as long as the possibility of any such claim, action, cause of action or suit exists.

§19. SURVIVAL OF COVENANTS, ETC. All covenants, agreements, representations and
warranties made herein, in the Notes, in any of the other Loan Documents or in any documents or
other papers delivered by or on behalf of the Borrower or any of its Subsidiaries or the Trust
pursuant hereto shall be deemed to have been relied upon by the Lenders and the Agent,
notwithstanding any investigation heretofore or hereafter made by any of them, and shall survive
the making by the Lenders of any of the Loans and the issuance, extension or renewal of any Letter
of Credit, as herein contemplated, and shall continue in full force and effect so long as any
Letter of Credit or any amount due under this Agreement or the Notes or any of the other Loan
Documents remains outstanding or any Lender has any obligation to make any Loans or purchase Letter
of Credit Participations or the Fronting Bank has any obligation to issue, extend or renew Letters
of Credit. The indemnification obligations of the Borrower provided herein and in the other Loan
Documents shall survive the full repayment of amounts due and the termination of the obligations of
the Lenders hereunder and thereunder to the extent provided herein and therein. All statements
contained in any certificate or other paper delivered to any Lender or the Agent at any time by or
on behalf of the Borrower or any of its Subsidiaries or the Trust pursuant hereto or in connection
with the transactions contemplated hereby shall constitute representations and warranties by the
Borrower or such Subsidiary or the Trust hereunder.

§20. ASSIGNMENT; PARTICIPATIONS; ETC.

§20.1. Conditions to Assignment by Lenders. Except as provided herein, each Lender
may assign to one or more Eligible Assignees all or a portion (in a minimum amount of $5,000,000)
of its interests, rights and obligations under this Agreement (including all or a portion of its
Commitment Percentage and Commitment and the same portion of the Loans at the time owing to it, the
Notes held by it and its participating interest in the risk relating to any Letters of Credit);
provided that (a) other than during the continuance of an Event of Default, the Agent, the
Swingline Lender, the Fronting Bank and the Borrower each shall have the right to approve any
Eligible Assignee, which approval shall not be unreasonably withheld or delayed, (b) subject to the
provisions of §2.7, each Lender shall have at all times an amount of its Commitment of not less
than $5,000,000 unless otherwise consented to by the Agent and (c) the parties to such assignment
shall execute and deliver to the Agent, for recording in the Register (as hereinafter defined), an
assignment and assumption, substantially in the form of Exhibit D hereto (an “Assignment
and Assumption”), together with any Notes subject to such assignment. Upon such execution,
delivery, acceptance and recording, from and after the effective date specified in each Assignment
and Assumption, which effective date shall be at least two (2) Business Days after the execution
thereof unless otherwise agreed or accepted by the Agent (provided any assignee has assumed
the obligation to fund any outstanding Libor Rate Loans), (i) the assignee thereunder shall be a
party hereto and, to the extent provided in such Assignment and Assumption, have the rights and
obligations of a Lender hereunder and thereunder, and (ii) the assigning Lender shall, to the
extent provided in such assignment and upon payment to the Agent of the registration fee referred
to in §20.3, be released from its obligations under this Agreement. Any such Assignment and
Assumption shall run to the benefit of the Borrower and a copy of any such Assignment and
Assumption shall be delivered by the Assignor to the Borrower.

Notwithstanding the provisions of subclause (a) of the preceding paragraph, any Lender may,
without the consent of the Borrower, make an assignment otherwise permitted hereunder to (x)
another Lender, and (y) an Affiliate of such Lender, provided that such Affiliate is an
Eligible Assignee.

§20.2. Certain Representations and Warranties; Limitations; Covenants. By executing
and delivering an Assignment and Assumption, the parties to the assignment thereunder confirm to
and agree with each other and the other parties hereto as follows: (a) other than the
representation and warranty that it is the legal and beneficial owner of the interest being
assigned thereby free and clear of any adverse claim, the assigning Lender makes no representation
or warranty and assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with this Agreement or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of this Agreement, the other Loan Documents or
any other instrument or document furnished pursuant hereto; (b) the assigning Lender makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
the Borrower and its Subsidiaries or the Trust or any other Person primarily or secondarily liable
in respect of any of the Obligations, or the performance or observance by the Borrower and its
Subsidiaries or the Trust or any other Person primarily or secondarily liable in respect of any of
the Obligations of any of their obligations under this Agreement or any of the other Loan Documents
or any other instrument or document furnished pursuant hereto or thereto; (c) such assignee
confirms that it has received a copy of this Agreement, together with copies of the most recent
financial statements referred to in §7.4 and §8.4 and such other documents and information as it
has deemed appropriate to make its own credit analysis and decision to enter into such Assignment
and Assumption; (d) such assignee will, independently and without reliance upon the assigning
Lender, the Agent or any other Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under this Agreement; (e) such assignee represents and warrants that it is an Eligible Assignee;
(f) such assignee appoints and authorizes the Agent to take such action as agent on its behalf and
to exercise such powers under this Agreement and the other Loan Documents as are delegated to the
Agent by the terms hereof or thereof, together with such powers as are reasonably incidental
thereto; (g) such assignee agrees that it will perform in accordance with their terms all of the
obligations that by the terms of this Agreement are required to be performed by it as a Lender; (h)
such assignee represents and warrants that it is legally authorized to enter into such Assignment
and Assumption; and (i) such assignee acknowledges that it has made arrangements with the assigning
Lender satisfactory to such assignee with respect to its pro rata share of Letter of Credit Fees in
respect of outstanding Letters of Credit.

§20.3. Register. The Agent shall maintain a copy of each Assignment and Assumption
delivered to it and a register or similar list (the “Register”) for the recordation of the names
and addresses of the Lenders and the Commitment Percentages of, and principal amount of the Loans
owing to, the Lenders from time to time. The entries in the Register shall be conclusive, in the
absence of manifest error, and the Borrower, the Agent and the Lenders may treat each Person whose
name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The
Register shall be available for inspection by the Borrower and the Lenders at any reasonable time
and from time to time upon reasonable prior notice. Except in the case of an assignment by a
Lender to its Affiliate, upon each such recordation, the assigning Lender agrees to pay to the
Agent a registration fee in the sum of $2,500 and all legal fees and expenses incurred by the Agent
in connection with such assignment.

§20.4. New Notes. Upon its receipt of an Assignment and Assumption executed by the
parties to such assignment, together with each Note subject to such assignment, the Agent shall (a)
record the information contained therein in the Register, and (b) give prompt notice thereof to the
Borrower and the Lenders (other than the assigning Lender). Unless done simultaneously with the
Assignment and Assumption, within two (2) Business Days after receipt of such notice, the Borrower,
at its own expense, shall execute and deliver to the Agent, in exchange for each surrendered
Revolving Credit Note or Swingline Note, a new Revolving Credit Note or Swingline Note, as
applicable, to the order of such Eligible Assignee in an amount equal to the amount assumed by such
Eligible Assignee pursuant to such Assignment and Assumption and, if the assigning Lender has
retained some portion of its obligations hereunder, a new Revolving Credit Note and other Note, if
applicable, to the order of the assigning Lender in an amount equal to the amount retained by it
hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes,
shall be in an aggregate principal amount equal to the aggregate principal amount of the
surrendered Notes, shall be dated the effective date of such Assignment and Assumption and shall
otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be
canceled and returned to the Borrower.

§20.5. Participations. Each Lender may sell participations to one or more lending
institutions or other entities in all or a portion of such Lender’s rights and obligations under
this Agreement and the other Loan Documents; provided that (a) each such participation
shall be in an amount of not less than $5,000,000, (b) any such sale or participation shall not
affect the rights and duties of the selling Lender hereunder to the Borrower and the Agent and the
Lender shall continue to exercise all approvals, disapprovals and other functions of a Lender, (c)
the only rights granted to the participant pursuant to such participation arrangements with respect
to waivers, amendments or modifications of, or approvals under, the Loan Documents shall be the
rights to approve waivers, amendments or modifications that would reduce the principal of or the
interest rate on any Loans, extend the term or increase the amount of the Commitment of such Lender
as it relates to such participant, reduce the amount of any fees to which such participant is
entitled or extend any regularly scheduled payment date for principal or interest, and (d) no
participant shall have the right to grant further participations or assign its rights, obligations
or interests under such participation to other Persons without the prior written consent of the
Agent, which consent shall not be unreasonably withheld.

§20.6. Pledge by Lender. Notwithstanding any other provision of this Agreement, any
Lender at no cost to the Borrower may at any time pledge all or any portion of its interest and
rights under this Agreement (including all or any portion of its Notes) to any of the twelve
Federal Reserve Banks organized under §4 of the Federal Reserve Act, 12 U.S.C. §341. No such
pledge or the enforcement thereof shall release the pledgor Lender from its obligations hereunder
or under any of the other Loan Documents.

§20.7. No Assignment by Borrower. The Borrower shall not assign or transfer any of
its rights or obligations under any of the Loan Documents without prior Unanimous Lender Approval.

§20.8. Disclosure. The Borrower agrees that, in addition to disclosures made in
accordance with standard banking practices, any Lender may disclose information obtained by such
Lender pursuant to this Agreement to assignees or participants and potential assignees or
participants hereunder.

§20.9. Syndication. The Borrower acknowledges that each of the Agent and the Arranger
intends, and shall have the right, by itself or through its Affiliates, to syndicate or enter into
co-lending arrangements with respect to the Loans and the Total Commitment pursuant to this §20.
The Arranger, in cooperation with the Borrower, will manage all aspects of the syndication,
including the selection of co-lenders, the determination of when Arranger will approach potential
co-lenders and the final allocations among co-lenders. Each of the Borrower and the Trust agrees
to assist Arranger actively in achieving a timely syndication that is reasonably satisfactory to
the Arranger, such assistance to include, among other things, (a) direct contact during the
syndication between the Borrower’s and the Trust’s senior officers, representatives and advisors,
on the one hand, and prospective co-lenders, on the other hand at such times and places as Arranger
may reasonably request, (b) providing to Arranger all financial and other information with respect
to the Borrower and the Trust and the transactions contemplated hereby that Arranger may reasonably
request, including but not limited to financial projections relating to the foregoing, and (c)
assistance in the preparation of a confidential information memorandum and other marketing
materials to be used in connection with the syndication, and the Borrower and the Trust agree to
cooperate with the Agent’s and the Arranger’s and their Affiliate’s syndication and/or co-lending
efforts, such cooperation to include, without limitation, the provision of information reasonably
requested by potential syndicate members. In addition, the Borrower and the Trust agree that, prior
to and during the syndication of the Total Commitment (which for purposes hereof shall be deemed to
be completed 90 days after the Closing Date), neither the Borrower nor the Trust will permit any
offering, placement or arrangement of any competing issues of debt securities or commercial bank
facilities of the Borrower, the Trust and any of their Subsidiaries, unless approved by the Agent.

§21. NOTICES, ETC. (a) Except as otherwise expressly provided in this Agreement, all
notices and other communications made or required to be given pursuant to this Agreement or the
Notes shall be in writing and shall be delivered in hand, mailed by United States registered or
certified first class mail, postage prepaid, sent by overnight courier, or sent by facsimile and
confirmed by delivery via courier or postal service, addressed as follows:

(i) if to the Borrower or the Trust, at 7600 Wisconsin Avenue, 11th Floor,
Bethesda, Maryland 20814, attention Barry Bass, Chief Financial Officer (facsimile: (301)
986-5554), with a copy to David W. Braswell, Esq., Armstrong Teasdale LLP, One Metropolitan Square,
Suite 2600, St. Louis, Missouri 63102, or to such other address for notice as the Borrower or the
Trust shall have last furnished in writing to the Agent;

(ii) if to the Agent, Swingline Lender or Fronting Bank, to KeyBank National Association, 127
Public Square, Cleveland, Cleveland, OH 44114, attention John C. Scott (facsimile: (216)
689-4997), with a copy to Cheri Van Klompenberg, KeyBank Institutional Real Estate, 1675 Broadway,
Suite 400, Denver Colorado 80202 (facsimile: 720-904-4420), or such other address for notice as the
Agent shall have last furnished in writing to the Borrower, with a copy to Pamela M. MacKenzie,
Esq., Goulston & Storrs, 400 Atlantic Avenue, Boston, Massachusetts 02110-3333 (facsimile:
(617)-574-7615), or at such other address for notice as the Agent shall last have furnished in
writing to the Person giving the notice; and

(iii) if to any Lender, at such Lender’s address set forth on Schedule 2 hereto, or
such other address for notice as such Lender shall have last furnished in writing to the Person
giving the notice.

Any such notice or demand shall be deemed to have been duly given or made and to have become
effective (i) if delivered by hand, overnight courier, or facsimile to the party to which it is
directed, at the time of the receipt thereof by such party or the sending of such facsimile and
(ii) if sent by registered or certified first-class mail, postage prepaid, on the third Business
Day following the mailing thereof.

(b) Electronic Communications. Notices and other communications to the Lenders and
the Fronting Bank hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or intranet websites) pursuant to procedures approved by the Agent,
provided that the foregoing shall not apply to notices to any Lender or the Fronting Bank
if such Lender or the Fronting Bank, as applicable, has notified the Agent that it is incapable of
receiving notices by electronic communication. The Agent or the Borrower may, in its discretion,
agree to accept notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it, provided that approval of such procedures may be
limited to particular notices or communications.

Unless the Agent otherwise prescribes, (i) notices and other communications sent to an
electronic mail (“e-mail”) address shall be deemed received upon the sender’s receipt of an
acknowledgement from the intended recipient (such as by the “return receipt requested” function, as
available, return e-mail or other written acknowledgement), provided that if such notice or
other communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent (and received, if the acknowledgment contemplated
above has been obtained) at the opening of business on the next business day for the recipient, and
(ii) notices or communications posted to an Internet or intranet website shall be deemed received
upon the deemed receipt by the intended recipient at its e-mail address as described in the
foregoing clause (i) of notification that such notice or communication is available and identifying
the website address therefor.

(c) The Platform. THE PLATFORM (as defined in §8.10(c)) IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF
THE BORROWER INFORMATION OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR
ERRORS IN OR OMISSIONS FROM THE BORROWER INFORMATION. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR
STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,
NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY
ANY AGENT PARTY IN CONNECTION WITH THE BORROWER INFORMATION OR THE PLATFORM. In no event shall the
Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability
to the Borrower, any Lender, the Fronting Bank or any other Person for losses, claims, damages,
liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the
Borrower’s or the Agent’s transmission of Borrower Information through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses have resulted from the gross
negligence, willful misconduct or bad faith breach of this Agreement of such Agent Party;
provided, however, that in no event shall any Agent Party have any liability to the
Borrower, any Lender, the Fronting Bank or any other Person for indirect, special, incidental,
consequential or punitive damages (as opposed to direct or actual damages).

(d) Change of Address, Etc. Each of the Borrower, the Agent, the Fronting Bank and
the Swingline Lender may change its address, electronic mail address, telecopier or telephone
number for notices and other communications hereunder by notice to the other parties hereto. Each
other Lender may change its address, electronic mail address, telecopier or telephone number for
notices and other communications hereunder by notice to the Borrower, the Agent, the Fronting Bank
and the Swingline Lender. In addition, each Lender agrees to notify the Agent from time to time to
ensure that the Agent has on record (i) an effective address, contact name, telephone number,
telecopier number and electronic mail address to which notices and other communications may be sent
and (ii) accurate wire instructions for such Lender.

(e) Reliance by Agent, Fronting Bank and Lenders. The Borrower shall indemnify the
Agent, the Fronting Bank, each Lender and the Related Parties of each of them from all losses,
costs, expenses and liabilities resulting from the good faith reliance by such Person on each
notice purportedly given by or on behalf of the Borrower, provided, however, that
the Borrower shall have no liability hereunder for any such indemnified party’s gross negligence or
willful misconduct in connection therewith. All telephonic notices to and other telephonic
communications with the Agent may be recorded by the Agent, and each of the parties hereto hereby
consents to such recording.

§22. FPLP AS AGENT FOR THE BORROWER. The Borrower (other than FPLP) hereby appoints
FPLP as its agent with respect to the receiving and giving of any notices, requests, instructions,
reports, certificates (including, without limitation, compliance certificates), schedules,
revisions, financial statements or any other written or oral communications hereunder. The Agent
and each Lender is hereby entitled to rely on any communications given or transmitted by FPLP as if
such communication were given or transmitted by each and every Borrower; provided
however, that any communication given or transmitted by any Borrower other than FPLP shall
be binding with respect to such Borrower. Any communication given or transmitted by the Agent or
any Lender to FPLP shall be deemed given and transmitted to each and every Borrower.

§23. GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE. THIS AGREEMENT AND EACH OF
THE OTHER LOAN DOCUMENTS, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED THEREIN, ARE CONTRACTS UNDER
THE LAWS OF THE STATE OF NEW YORK AND SHALL FOR ALL PURPOSES BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF SUCH STATE (EXCLUDING THE LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW).
EACH OF THE BORROWER, TRUST AND THEIR SUBSIDIARIES AGREES THAT ANY SUIT FOR THE ENFORCEMENT OF THIS
AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS MAY BE BROUGHT IN ANY COURT IN THE STATE OF NEW YORK
AND OF ANY FEDERAL COURT LOCATED IN NEW YORK AND CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF SUCH
COURTS AND THE SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON THE BORROWER, THE TRUST OR THEIR
SUBSIDIARIES BY MAIL AT THE ADDRESS SPECIFIED IN §21. THE BORROWER, THE TRUST AND THEIR
SUBSIDIARIES HEREBY WAIVE ANY OBJECTION THAT ANY OF THEM MAY NOW OR HEREAFTER HAVE TO THE VENUE OF
ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT IS BROUGHT IN AN INCONVENIENT COURT.

§24. HEADINGS. The captions in this Agreement are for convenience of reference only
and shall not define or limit the provisions hereof.

§25. COUNTERPARTS. This Agreement and any amendment hereof may be executed in several
counterparts and by each party on a separate counterpart, each of which when so executed and
delivered shall be an original, and all of which together shall constitute one instrument. In
proving this Agreement it shall not be necessary to produce or account for more than one such
counterpart signed by the party against whom enforcement is sought.

§26. ENTIRE AGREEMENT, ETC. The Loan Documents and any other documents executed in
connection herewith or therewith express the entire understanding of the parties with respect to
the transactions contemplated hereby. Neither this Agreement nor any term hereof may be changed,
waived, discharged or terminated, except as provided in §28.

§27. WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS. EXCEPT TO THE EXTENT EXPRESSLY
PROHIBITED BY LAW, THE BORROWER AND ITS SUBSIDIARIES HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY
TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS
AGREEMENT, THE NOTES OR ANY OF THE OTHER LOAN DOCUMENTS, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR
THEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS. EXCEPT TO THE EXTENT EXPRESSLY
PROHIBITED BY LAW, THE BORROWER AND ITS SUBSIDIARIES HEREBY WAIVE ANY RIGHT ANY OF THEM MAY HAVE TO
CLAIM OR RECOVER IN ANY LITIGATION REFERRED TO IN THE PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY,
PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES.
EACH OF THE BORROWER AND ITS SUBSIDIARIES (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY
OF ANY LENDER OR THE AGENT HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH LENDER OR THE AGENT
WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (B) ACKNOWLEDGES
THAT THE AGENT AND THE LENDERS HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS TO WHICH THEY ARE PARTIES BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS
CONTAINED HEREIN.

§28. CONSENTS, AMENDMENTS, WAIVERS, ETC. Except as otherwise expressly provided in
this Agreement, any consent or approval required or permitted by this Agreement may be given, and
any term of this Agreement or of any of the other Loan Documents may be amended, and the
performance or observance by the Borrower or the Trust or any of their respective Subsidiaries of
any terms of this Agreement or the other Loan Documents or the continuance of any Default or Event
of Default may be waived (either generally or in a particular instance and either retroactively or
prospectively) with, but only with, the written consent of the Majority Lenders.

Notwithstanding the foregoing, Unanimous Lender Approval shall be required for any amendment,
modification or waiver of this Agreement that:

(i) reduces or forgives any principal of any unpaid Loan or any
interest thereon (including any general waiver of interest “breakage”
costs) or any fees due any Lender hereunder, or permits any prepayment not
otherwise permitted hereunder; or

(ii) changes the unpaid principal amount of any Loan, reduces the
rate of interest applicable to any Loan, or reduces any fee payable to the
Lenders hereunder; or

(iii) changes the date fixed for any payment of principal of or
interest on any Loan (including, without limitation, any extension of the
Maturity Date not contemplated herein) or any fees payable hereunder
(including, without limitation, the waiver of any monetary Event of
Default); or

(iv) changes the amount of any Lender’s Commitment (other than
pursuant to an assignment permitted under §20.1) or increases the amount
of the Total Commitment except as permitted hereunder; or

(v) modifies any provision herein or in any other Loan Document which
by the terms thereof expressly requires Unanimous Lender Approval; or

(vi) changes the definitions of Majority Lenders or Unanimous Lender
Approval; or

(vii) releases the Guaranty of the Trust.

In addition, no amendment or modification to or waiver of the provisions of §2.10 may be made
without the prior written consent of the Swingline Lender or of the provisions of §2.3(f) or §§5.1
through 5.5 may be made without the prior written consent of the Fronting Bank.

No waiver shall extend to or affect any obligation not expressly waived or impair any right
consequent thereon. No course of dealing or delay or omission on the part of the Agent or the
Lenders or any Lender in exercising any right shall operate as a waiver thereof or otherwise be
prejudicial to such right or any other rights of the Agent or the Lenders. No notice to or demand
upon the Borrower shall entitle the Borrower to other or further notice or demand in similar or
other circumstances.

Notwithstanding the foregoing, in the event that the Borrower requests any consent, waiver or
approval under this Agreement or any other Loan Document, or an amendment or modification hereof or
thereof, and one or more Lenders determine not to consent or agree to such consent, waiver,
approval, amendment or modification, then the Lender then acting as Agent hereunder shall have the
right to purchase the Commitment of such non-consenting Lender(s) at a purchase price equal to the
then outstanding amount of principal, interest and fees then owing to such Lender(s) by the
Borrower hereunder, and such non-consenting Lender(s) shall immediately upon request, sell and
assign its Commitment and all of its other right, title and interest in the Loans and other
Obligations to the Lender then acting as Agent pursuant to an Assignment and Assumption (provided
that the selling Lender(s) shall not be responsible to pay any assignment fee in connection
therewith).

§29. SEVERABILITY. The provisions of this Agreement are severable, and if any one
clause or provision hereof shall be held invalid or unenforceable in whole or in part in any
jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision,
or part thereof, in such jurisdiction, and shall not in any manner affect such clause or provision
in any other jurisdiction, or any other clause or provision of this Agreement in any jurisdiction.

§30. INTEREST RATE LIMITATION. Notwithstanding anything herein to the contrary, if at any
time the interest rate applicable to any Loan, together with all fees, charges and other amounts
which are treated as interest on such Loan under applicable law (collectively, the “Charges”),
shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged,
taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the
rate of interest payable in respect of such Loan hereunder, together with all Charges payable in
respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and
Charges that would have been payable in respect of such Loan but were not payable as a result of
the operation of this §30 shall be cumulated and the interest and Charges payable to such Lender in
respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor)
until such cumulated amount, together with interest thereon at the Federal Funds Rate to the date
of repayment, shall have been received by such Lender.

§31. USA PATRIOT ACT NOTIFICATION. The following notification is provided to the

Borrower pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318:

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the
funding of terrorism and money laundering activities, Federal law requires all financial
institutions to obtain, verify, and record information that identifies each person or entity that
opens an account, including any deposit account, treasury management account, loan, other extension
of credit, or other financial services product. The Agent and/or the Lenders will ask for
Borrower’s name, taxpayer identification number, business address, and other information that will
allow the Agent and the Lenders to identify Borrower. The Agent and/or the Lenders may also ask to
see Borrower’s legal organizational documents or other identifying documents.

5

(Remainder of page intentionally left blank)

IN WITNESS WHEREOF, the undersigned have duly executed this Agreement as a sealed instrument
as of the date first set forth above.

	 
	 

	KEYBANK NATIONAL ASSOCIATION,

Individually and as Administrative Agent, Swingline Lender and Fronting Bank

By: /s/Joshua K. Mayers

	 

	    Name: Joshua K. Mayers

    Title: Assistant Vice President

(Signatures continued on next page)

6

	 
	 

	WACHOVIA BANK, NATIONAL ASSOCIATION,

Individually and as Syndication Agent

By: /s/ David M. Blackman

	 

	    Name: David M. Blackman

    Title: Managing Director

(Signatures continued on next page)

7

	 
	 

	WELLS FARGO NATIONAL ASSOCIATION,

Individually and as Co-Documentation Agent

By: /s/ Jennifer A. Dakin

	 

	    Name: Jennifer A. Dakin

    Title: Vice President

(Signatures continued on next page)

8

	 
	 

	BANK OF MONTREAL,

Individually and as Co-Documentation Agent

By: /s/ Virginia Neale

	 

	    Name: Virginia Neale

    Title: Vice President

(Signatures continued on next page)

9

	 
	 

	MANUFACTURERS AND TRADERS TRUST COMPANY,

as Lender

By: /s/ Matthew Lind

	 

	    Name: Matthew Lind

    Title: Vice President

(Signatures continued on next page)

10

	 	 	 	 	 	 	 
	PNC BANK, NATIONAL ASSOCIATION

	 	

	 	 	 
	as Lender

By: /s/Timothy P. Gleeson

	 	

	 

	 	

	    Name: Timothy P. Gleeson

    Title: Vice President

	 	

(Signatures continued on next page)

11

	 	 	 	 	 	 	 
	CHEVY CHASE BANK, F.S.B

	 	

	 	 	 
	as Lender

By: /s/ Dory Halati

	 	

	 

	 	

	    Name: Dory Halati

    Title: Vice President

	 	

(Signatures continued on next page)

12

	 	 	 	 	 	 	 
	FIRST POTOMAC REALTY INVESTMENT LIM

	 	ITED PARTNERSHIP

	 	 	 
	By: First Potomac Realty Trust,

	 	

	 
	 	 
	its sole general partner

	 	

	 
	 	 
	By: /s/ Barry H. Bass

	 	

	 

	 	

	 
	 	 
	Barry H. Bass, Chief Financial Offi

	 	cer and Executive Vice President

(Signatures continued on next page)

13

AIRPARK PLACE, LLC, a Delaware limited liability
company

By: Airpark Place Holdings, LLC, a Delaware limited
partnership, its sole member

	 	 	 
	By:

Limited Partnership,

Its Sole Member

	 	First Potomac Realty Investment

	 
	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

14

CROSSWAYS II, LLC, a Delaware limited liability
company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

	 	 	AQUIA TWO, LLC, a Delaware limited liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

15

15395 JOHN MARSHALL HIGHWAY, LLC, a Delaware limited
liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

	 	 	WINDSOR AT BATTLEFIELD, LLC, a Delaware limited
liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

16

RESTON BUSINESS CAMPUS, LLC, a Delaware limited
liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

	 	 	GATEWAY MANASSAS II, LLC, a Delaware limited
liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

17

1400 CAVALIER, LLC, a Delaware limited liability
company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

	 	 	FP CAMPOSTELLA ROAD, LLC, a Delaware limited
liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

18

FP DIAMOND HILL, LLC, a Delaware limited liability
company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

	 	 	GATEWAY HAMPTON ROADS, LLC, a Virginia limited
liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

19

VIRGINIA CENTER, LLC, a Delaware limited liability
company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer

	 	 	and Executive Vice President

LINDEN II, LLC, a Delaware limited liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

20

LUCAS WAY HAMPTON, LLC, a Virginia limited liability
company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

	 	 	FP RIVERS BEND, LLC, a Virginia limited liability
company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

21

1441 CROSSWAYS BLVD., LLC, a Virginia limited
liability company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

	 	 	FP NORTHRIDGE, LLC, a Virginia limited liability
company

By: First Potomac Realty Investment Limited
Partnership,

Its Sole Member

	 	 	 
	By:

	 	First Potomac Realty Trust,

Its General Partner
	
 
	 	By: /s/ Barry H. Bass
	
 
	 	 
	
 
	 	Barry H. Bass

Chief Financial Officer and

Executive Vice President

(Signatures continued on next page)

22

	 	 	 	 	 
	FPR HOLDINGS LIMITED PARTNERSHIP, a Delaware limited partnership

	 
	 	 	 	 
	By: FPR General Partner, LLC,

	 	

	 	

	 
	 	 	 	 
	the sole General Partner of FPR Holdings Limited Partnership
	 	 
	 
	 	 	 	 
	By:

	 	FIRST POTOMAC REALTY INVESTMENT
	 	

	 	 	LIMITED PARTNERSHIP, its sole member

	
 
	 	By:
	 	FIRST POTOMAC REALTY

TRUST, its general

partner
	 
	 	 	 	 
	
 
	 	 	 	By: /s/ Barry H. Bass
	
 
	 	 	 	 
	
 
	 	 	 	Barry H. Bass, Chief

Financial Officer

and Executive Vice

President

(Signatures continued on next page)

23

FIRST POTOMAC REALTY TRUST, Guarantor

By: /s/Barry H. Bass

	 	 	    Barry H. Bass, Chief Financial Officer

and Executive Vice President

24

Schedule 1

Borrowers

	 	 	 
	-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

	 	Airpark Place, LLC, a Delaware limited company

Crossways II LLC, a Delaware limited liability company

Aquia Two, LLC, a Delaware limited liability company

15395 John Marshall Highway, LLC, a Delaware limited liability company

Windsor at Battlefield, LLC, a Delaware limited liability company

Reston Business Campus, LLC, a Delaware limited liability company

Gateway Manassas II, LLC, a Delaware limited liability company

1400 Cavalier, LLC, a Delaware limited liability company

FP Campostella Road, LLC, a Delaware limited liability company

FP Diamond Hill, LLC, a Delaware limited liability company

Gateway Hampton Roads, LLC, a Virginia limited liability company

Virginia Center, LLC, a Delaware limited liability company

Linden II, LLC, a Delaware limited liability company

Lucas Way Hampton, LLC, a Virginia limited liability company

FP Rivers Bend, LLC, a Virginia limited liability company

1441 Crossways Blvd., LLC, a Virginia limited liability company

FP Northridge, LLC, a Virginia limited liability company

FPR Holdings Limited Partnership, a Delaware limited partnership
	 
	 	 

25

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