Document:

ALGT EX10.1

AGREEMENT OF SALE AND PURCHASE
AMONG
CROSSING BUSINESS CENTER 1 AND 2 LLC,
a Delaware limited liability company, 

CROSSING BUSINESS CENTER 7 LLC,
a Delaware limited liability company, 

as Seller
AND
ALLEGIANT AIR, LLC,
a Nevada limited liability company,
as Purchaser

Dated as of
April 19, 2013

20289493.10 

AGREEMENT OF SALE AND PURCHASE
THIS AGREEMENT OF SALE AND PURCHASE (this “Agreement”) is dated as of April 19, 2013 (the “Effective Date”), by and among CROSSING BUSINESS CENTER 1 AND 2 LLC, a Delaware limited liability company (“Office Seller”), CROSSING BUSINESS CENTER 7 LLC, a Delaware limited liability company (“Parking Seller” and together with Office Seller, collectively, “Seller”), and ALLEGIANT AIR, LLC, a Nevada limited liability company (“Purchaser”).
In consideration of the mutual promises, covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows:
ARTICLE I 
DEFINITIONS
Section 1.1    Definitions.  For purposes of this Agreement, the following capitalized terms have the meanings set forth in this Section 1.1:
“Affiliate” means any person or entity that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with Purchaser or Seller, as the case may be.  For the purposes of this definition, “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person or entity, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” have the meanings correlative to the foregoing.
“Agreement” has the meaning ascribed to such term in the opening paragraph.
“Approved Construction Contract” has the meaning ascribed to such term in Section 5.7.
“Approved Parking Improvement Plans” has the meaning ascribed to such term in Section 7.1.
“Association Regulations” means all covenants, conditions, restrictions and developmental regulations imposed against the Property by all owner's associations (whether master or sub-associations) having rights of regulation and control over the Property.
“Assumed Service Contracts” has the meaning ascribed to such term in Section 2.2.
“Authorities” means the various governmental and quasi-governmental bodies or agencies having jurisdiction over Seller, the Real Property, the Improvements, or any portion thereof.
“Brokers” has the meaning ascribed to such term in Article XI.

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“Business Day” means any day other than a Saturday, Sunday or a day on which national banking associations are authorized or required to close.
“CERCLA” means the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. § 9601 et seq.), as amended by the Superfund Amendments Reauthorization Act of 1986 (42 U.S.C. § 9601 et seq.), as the same may be amended.
“Certificate as to Foreign Status” has the meaning ascribed to such term in Section 10.3.
“Certifying Party” has the meaning ascribed to such term in Section 4.4.
“Closing” means the consummation of the purchase and sale of the Property contemplated by this Agreement, as provided in Article X.
“Closing Date” means the date that is the later of: (i) fifteen (15) days after the expiration of the Due Diligence Period, and (ii) five (5) business days after Purchaser receives written notice from Seller that Seller has provided to Purchaser all proof necessary to satisfy the Subdivision Requirement or such earlier date to which Purchaser and Seller may hereafter agree in writing.
“Closing Statement” has the meaning ascribed to such term in Section 10.4(a).
“Closing Surviving Obligations” means the covenants, rights, liabilities and obligations set forth in Sections 2.2, 4.8, 5.3, 5.5, 5.6, 7.2, 8.1 (subject to Section 16.1), 8.2, 10.4 (subject to the limitations therein), 13.3, 16.1, 17.2 and 17.15, and Article XI.
“Code” has the meaning ascribed to such term in Section 4.8.
“Completion Deadline” has the meaning ascribed to such term in Section 7.2.
“Curative Items” has the meaning ascribed to such term in Section 6.1.
“Deed” has the meaning ascribed to such term in Section 10.3.
“Deposit” has the meaning ascribed to such term in Section 3.3.
“Deposit Time” means 1:00 p.m. Pacific Time on the Business Day that immediately precedes the Closing Date.
“Due Diligence Materials” has the meaning ascribed to such term in Section 5.2(a).
“Due Diligence Period” means the period from the Effective Date through 5:00 p.m. Pacific time on the date that is thirty (30) days thereafter.

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“Effective Date” has the meaning ascribed to such term in the opening paragraph of this Agreement.
“Environmental Laws” means all federal, state and local environmental laws, rules, statutes, directives, binding written interpretations, binding written policies, ordinances and regulations issued by any Authorities and in effect as of the Effective Date with respect to or which otherwise pertain to or affect the Real Property or the Improvements, or any portion thereof, the use, ownership, occupancy or operation of the Real Property or the Improvements, or any portion thereof, or Purchaser, and as same have been amended, modified or supplemented from time to time prior to and are in effect as of the Effective Date, including but not limited to CERCLA, the Hazardous Substances Transportation Act (49 U.S.C. § 1802 et seq.), RCRA, the Water Pollution Control Act (33 U.S.C. § 1251 et seq.), the Safe Drinking Water Act (42 U.S.C. § 300f et seq.), the Clean Air Act (42 U.S.C. § 7401 et seq.), the Toxic Substances Control Act (15 U.S.C. § 2601 et seq.), the Emergency Planning and Community Right-to-Know Act of 1986 (42 U.S.C. § 11001 et seq.), the Radon and Indoor Air Quality Research Act (42 U.S.C. § 7401 note, et seq.), comparable state and local laws, and any and all rules and regulations which are in effect as of the Effective Date under any and all of the aforementioned laws.
“Escrow Instructions” has the meaning ascribed to such term in Section 4.1.
“Final Construction Contract” has the meaning ascribed to such term in Section 5.7.
“Floor Amount” has the meaning ascribed to such term in Section 16.1(b).
“General Contractor” has the meaning ascribed to such term in Section 5.7.
“General Conveyance” has the meaning ascribed to such term in Section 10.2.
“Governmental Regulations” means all laws, ordinances, rules and regulations of the Authorities applicable to Seller or Seller’s use and operation of the Real Property or the Improvements or any portion thereof.
“Hazardous Substances” means all (a) asbestos, radon gas, electromagnetic waves, urea formaldehyde foam insulation and transformers or other equipment that contains dielectric fluid containing polychlorinated biphenyls of 50 ppm or greater, (b) any solid, liquid, gaseous or thermal contaminant, including smoke vapor, soot, fumes, acids, alkalis, chemicals, waste, petroleum products or byproducts, asbestos, PCBs, phosphates, lead or other heavy metals, chlorine, or radon gas, (c) any solid or liquid wastes (including hazardous wastes), hazardous air pollutants, hazardous substances, hazardous chemical substances and mixtures, toxic substances, pollutants and contaminants, as such terms are defined in any Environmental Law, including, without limitation CERCLA, RCRA, the National Environmental Policy Act (42 U.S.C. § 4321 et seq.), the Hazardous Substances Transportation Act, the Toxic Substances Control Act, the Clean Water Act (33 U.S.C. § 1321 et seq.), the Clean Air Act, the Occupational Safety and Health Act (29 U.S.C. § 651 et seq.), as such Laws have been amended and/or supplemented from time to time prior to the Effective Date, and any and all rules and regulations promulgated under any of the above, and (d) any other 

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chemical, material or substance, the use or presence of which, or exposure to the use or presence of which, is prohibited, limited or regulated by any Environmental Laws, in effect as of or prior to the Effective Date or as the same may be amended or supplemented after the Effective Date.
“Holdback Agreement” has the meaning ascribed to such term in Section 7.2.
“Holdback Funds” has the meaning ascribed to such term in Section 7.2.
“Improvements” means all buildings, structures, fixtures, parking areas and other improvements owned by Seller and located on the Real Property.
“Licensee Parties” has the meaning ascribed to such term in Section 5.1(a).
“Licenses and Permits” means, collectively, all of Seller’s right, title and interest, to the extent assignable without the necessity of consent or assignable only with consent and such consent has been obtained, in and to licenses, permits, certificates of occupancy, approvals and entitlements issued, approved or granted by the Authorities prior to Closing in connection with the Real Property, the Improvements and the Parking Improvements, together with all renewals and modifications thereof.
“Material Casualty” has the meaning ascribed to such term in Article IX.
“Material Taking” has the meaning ascribed to such term in Article IX.
“Non-Terminable Contracts” has the meaning ascribed to such term in Section 2.2.
“Office Parcel” means the land described on Exhibit A-1 attached hereto, together with all of Office Seller’s right, title and interest in and to the streets, alleys and right-of-ways which abut such real property, and any easement rights, air rights, subsurface rights, development rights, water rights or other appurtenances to such land.
“Office Seller” has the meaning ascribed to such term in the opening paragraph of this Agreement.
“Official Records” means the Official Records of Clark County, Nevada.
“Other Party” has the meaning ascribed to such term in Section 4.4.
“Parking Improvement Contracts” has the meaning ascribed to such term in Section 7.3.
“Parking Improvements” has the meaning ascribed to such term in Section 5.7.
“Parking Parcel” means the unimproved land substantially depicted on Exhibit A-2 attached hereto, having a total minimum capacity of 214 parking spaces, which Parking Parcel is required to be subdivided by Seller  into a separate legal parcel prior to Closing, and which Parking 

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Parcel shall be partially developed with the Parking Improvements for no less than 107 parking spaces after the Closing in accordance with the terms and conditions of this Agreement, together with all of Parking Seller’s right, title and interest in and to the streets, alleys and right-of-ways which abut such real property, and any easement rights, air rights, subsurface rights, development rights, water rights or other appurtenances to such land.
“Parking Seller” has the meaning ascribed to such term in the opening paragraph of this Agreement.
“Permitted Exceptions” has the meaning ascribed to such term in Section 6.2.
“Permitted Outside Parties” has the meaning ascribed to such term in Section 5.2(b).
“Property” has the meaning ascribed to such term in Section 2.1.
“Proration Items” has the meaning ascribed to such term in Section 10.4.
“Purchase Price” has the meaning ascribed to such term in Section 3.1.
“Purchaser” has the meaning ascribed to such term in the opening paragraph of this Agreement.
“Purchaser’s Information” has the meaning ascribed to such term in Section 5.2(c).
“Purchaser’s Title Notice” has the meaning ascribed to such term in Section 6.1.
“RCRA” means the Resource Conservation and Recovery Act (42 U.S.C. § 6901 et seq.), as amended by the Hazardous and Solid Wastes Amendments of 1984, and as further amended.
“Real Property” means the Office Parcel and the Parking Parcel.
“Reporting Person” has the meaning ascribed to such term in Section 4.8(a).
“Restrictive Covenant Agreement” has the meaning ascribed to such term in Section 17.16.
“Seller” has the meaning ascribed to such term in the opening paragraph of this Agreement.
“Seller’s Cap Amount” has the meaning ascribed to such term in Section 16.1(b).
“Seller’s Title Notice” has the meaning ascribed to such term in Section 6.1.
“Service Contracts” means all of Seller’s right, title and interest in all service agreements, maintenance contracts, warranties, guarantees, bonds and other contracts for the 

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provision of labor, services, materials or supplies relating solely to the Real Property, or Improvements and under which Seller is currently paying for services rendered in connection with the Property, as listed and described on Exhibit B attached hereto, together with all renewals, supplements, amendments and modifications thereof, and any new such agreements entered into after the Effective Date, to the extent permitted by Section 7.1(d).
“Subdivision Requirement” has the meaning ascribed to such term in 7.1(e).
“Termination Surviving Obligations” means the rights, liabilities and obligations set forth in Sections 5.2, 5.3, 5.6, 12.1, 13.3, 17.2 and 17.15 and Article XI.
“Title Company” means Chicago Title Agency of Nevada. 
“Title Objections” has the meaning ascribed to such term in Section 6.1.
“Title Policy” has the meaning ascribed to such term in Section 6.2.
“Title Report” has the meaning ascribed to such term in Section 6.1.
“To Seller’s Knowledge” means the present actual (as opposed to constructive or imputed) knowledge of Douglas H. Metzler, Brett Norton and Jim Bonham, without any duty of investigation or inquiry whatsoever.  Such individuals are named in this Agreement solely for the purpose of establishing the scope of Seller’s knowledge.  Such individuals shall not be deemed to be a party to this Agreement nor to have made any representations or warranties hereunder, and there shall be no liability of or recourse against such individual for any of Seller’s representations and warranties hereunder (and Purchaser hereby waives any liability of or recourse against such individual).  
Section 1.2    References; Exhibits and Schedules.  Except as otherwise specifically indicated, all references in this Agreement to Articles or Sections refer to Articles or Sections of this Agreement, and all references to Exhibits or Schedules refer to Exhibits or Schedules attached hereto, all of which Exhibits and Schedules are incorporated into, and made a part of, this Agreement by reference.  The words “herein,” “hereof,” “hereinafter” and words and phrases of similar import refer to this Agreement as a whole and not to any particular Section or Article.
ARTICLE II     
AGREEMENT OF PURCHASE AND SALE
Section 2.1    Property.  Seller hereby agrees to sell, convey and assign to Purchaser, and Purchaser hereby agrees to purchase and accept from Seller, on the Closing Date and subject to the terms and conditions of this Agreement, all of the following (collectively, the “Property”):
(a)    the Real Property;
(b)    the Improvements; and

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(c)    all of Seller’s right, title and interest, if any, in, to and under the Assumed  Service Contracts elected to be assumed by Purchaser (as set forth in Section 2.2 below), and all Licenses and Permits, in each case to the extent assignable without the necessity of consent or approval, or if consent or approval is required, to the extent any necessary consent or approval has been obtained.
Section 2.2    Assumption of Obligations.  Prior to the expiration of the Due Diligence Period, Purchaser shall notify Seller of those Service Contracts it desires to assume at the Closing (the “Assumed Service Contracts”).  Prior to the Closing, if permitted under the applicable Service Contract, Seller shall terminate all Service Contracts that are not Assumed Service Contracts; provided, however, in no event shall Seller be required to terminate any Service Contracts (i) where such termination would result in a default under such Service Contract, (ii) where Seller would incur any expense in connection with such termination; or (iii) which by their terms are not terminable prior to the Closing or otherwise not terminable without payment by Seller of a penalty, charge or premium (“Non-Terminable Contracts”).  If any Service Contract that Purchaser requests to be terminated pursuant to this Section 2.2 cannot be effectively terminated until after the Closing Date (e.g., a Service Contract may include a termination notice period that extends beyond the Closing Date), such Service Contract shall be deemed a Non-Terminable Contract and Purchaser shall assume such Service Contract as of the Closing until such termination becomes effective (without causing Seller to be in default under the applicable Service Contract) in accordance with the terms and conditions of such Service Contract.    The Assumed Contracts and the Non-Terminable Contracts, if any, shall be assumed by Purchaser as of the Closing.  As additional consideration for the purchase and sale of the Property,  Purchaser hereby assumes as of the Closing all covenants, duties, liabilities and obligations of Seller or Seller’s predecessor(s) in title under the Assumed Service Contracts, the Non-Terminable Contracts, and Licenses and Permits assigned to Purchaser arising or accruing on or after the Closing.  Purchaser hereby indemnifies, defends, and holds Seller and its Affiliates harmless from and against any and all claims, liens, damages, demands, causes of action, liabilities, lawsuits, judgments, losses, costs and expenses (including without limitation, reasonable attorneys’ fees and expenses) asserted against or incurred by Seller or its Affiliates and arising out of the failure of Purchaser to perform its obligations pursuant to this Section 2.2.  The provisions of this Section 2.2 shall fully survive the Closing without limitation.
ARTICLE III     
PURCHASE PRICE; DEPOSIT
Section 3.1    Purchase Price.  The purchase price for the Property (the “Purchase Price”) shall be TWELVE MILLION THREE HUNDRED FORTY-NINE THOUSAND NINE HUNDRED FIVE AND NO/100 DOLLARS ($12,349,905.00) in lawful currency of the United States of America, payable as provided in this Article III.
Section 3.2    Method of Payment of Purchase Price.  No later than the Deposit Time, Purchaser will deposit in escrow with the Title Company the Purchase Price, less the Deposit and subject to the adjustments described in Section 10.4, together with all other costs and amounts to be paid by Purchaser at Closing pursuant to the terms of this Agreement, by wire transfer of immediately available funds to an account to be designated by the Title Company.  No later than 

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12:00 noon Pacific Time on the Closing Date: (a) Purchaser will cause the Title Company to (i) pay to Seller by wire transfer of immediately available funds to an account to be designated by Seller, the Purchase Price (subject to adjustments described in Section 10.4), less any costs or other amounts to be paid by Seller at Closing pursuant to the terms of this Agreement, and (ii) pay to all appropriate payees the other costs and amounts to be paid by Purchaser at Closing pursuant to the terms of this Agreement; and (b) Seller will direct the Title Company to pay to the appropriate payees out of the proceeds of Closing payable to Seller, all costs and amounts to be paid by Seller at Closing pursuant to the terms of this Agreement.
Section 3.3    Deposit.  Within three (3) business days after the Effective Date, Purchaser shall deposit with the Title Company, in good funds immediately collectible by the Title Company, the sum of FIVE HUNDRED THOUSAND DOLLARS ($500,000.00) (the “Deposit”) to be held in escrow by the Title Company pursuant to the terms of this Agreement.  All interest earned on the Deposit during the period that the Deposit is held in escrow by the Title Company shall be added to, and considered as a part of, the Deposit.  
ARTICLE IV    
ESCROW
Section 4.1    Escrow Instructions.  Article IV of this Agreement constitutes the escrow instructions of Seller and Purchaser to the Title Company with regard to the Deposit and the Closing (the “Escrow Instructions”).  By its execution of the joinder attached hereto, the Title Company agrees to be bound by the provisions of this Article IV.  If the Title Company requires additional instructions the parties agree to execute such additional instructions as reasonably requested by Title Company and that do not materially modify the terms of this Agreement.  In the event of any conflict between this Agreement and such additional escrow instructions, this Agreement will control.
Section 4.2    Purchase Price and Documents Deposited into Escrow.  On or before the Deposit Time, (a) Purchaser will cause the Purchase Price, less the Deposit, and subject to the prorations provided for in Section 10.4 and the Closing costs to be paid by Purchaser, to be transferred to the Title Company’s escrow account, (b) Purchaser will deliver in escrow to the Title Company the documents required to be delivered to escrow under Section 10.2 below, and (c) Seller will deliver in escrow to the Title Company the documents required to be delivered to escrow under Section 10.3 below.
Section 4.3    Close of Escrow.  Provided that the Title Company has not received from Seller or Purchaser any written termination notice as described and provided for in Section 4.4 (or if such a notice has been previously received, provided that the Title Company has received from such party a withdrawal of such notice), when Purchaser and Seller have delivered the documents required by Section 4.2, the Title Company will:
(a)    if applicable and when required, file with the Internal Revenue Service (with copies to Purchaser and Seller) the reporting statement required under Section 6045(e) of the Internal Revenue Code and Section 4.8; 

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(b)    insert the date of Closing as the date of any document delivered to the Title Company undated, and assemble counterparts into single instruments and attach exhibits to any incomplete documents;
(c)    disburse to Seller, by wire transfer to Seller of immediately available federal funds, in accordance with wiring instructions to be obtained by the Title Company from Seller, all sums to be received by Seller from Purchaser at the Closing, comprised of the Purchase Price (but reserving the Holdback Funds to be held in Escrow) as adjusted in accordance with the provisions of this Agreement;
(d)    record the Deed and the Restrictive Covenant Agreement in the Official Records and obtain conformed copies of the recorded Deed and Restrictive Covenant Agreement for delivery to Purchaser and to Seller following recording;
(e)    issue to Purchaser the Title Policy required by Section 6.2 of this Agreement;
(f)    deliver to Seller, in addition to Seller’s Closing proceeds, all documents deposited with the Title Company for delivery to Seller at the Closing; and
(g)    deliver to Purchaser (i) all documents deposited with the Title Company for delivery to Purchaser at the Closing and (ii) any funds deposited by Purchaser in excess of the amount required to be paid by Purchaser pursuant to this Agreement (other than the Holdback Funds, which shall be retained by the Title Company in accordance with the Holdback Agreement).
Section 4.4    Termination Notices.  If at any time the Title Company receives a certificate of either Seller or Purchaser (for purposes of this Section 4.4, the “Certifying Party”) stating that:  (a) the Certifying Party is entitled to receive the Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was delivered as provided herein to the other party (for purposes of this Section 4.4, the “Other Party”) prior to or contemporaneously with the giving of such certificate to the Title Company, then, unless the Title Company has then previously received, or receives within five (5) Business Days after receipt of the Certifying Party’s certificate, contrary instructions from the Other Party, the Title Company, within two (2) Business Days after the expiration of the foregoing five (5) Business Day period, will deliver the Deposit to the Certifying Party, and thereupon the Title Company will be discharged and released from any and all liability hereunder.  If the Title Company receives contrary instructions from the Other Party within five (5) Business Days following the Title Company’s receipt of said certificate, the Title Company will not so deliver the Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.5.
Section 4.5    Indemnification of Title Company.  If this Agreement or any matter relating hereto becomes the subject of any litigation or controversy, Purchaser and Seller jointly and severally, shall hold Title Company free and harmless from any loss or expense, including reasonable attorneys’ fees, that may be suffered by it by reason thereof other than as a result of Title Company’s gross negligence or willful misconduct.  In the event conflicting demands are made or notices served upon Title Company with respect to this Agreement, or if there is uncertainty as to the meaning or applicability of the terms of this Agreement or the Escrow Instructions, Purchaser 

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and Seller expressly agree that the Title Company shall be entitled to file a suit in interpleader and to obtain an order from the court requiring Purchaser and Seller to interplead and litigate their several claims and rights among themselves.  Upon the filing of the action in interpleader and the deposit of the Deposit with the court, the Title Company will be fully released and discharged from any further obligations imposed upon it by this Agreement after such deposit.
Section 4.6    Maintenance of Confidentiality by Title Company.  Except as may otherwise be required by law or by this Agreement, Title Company will maintain in strict confidence and not disclose to anyone the existence of this Agreement, the identity of the parties hereto, the amount of the Purchase Price, the provisions of this Agreement or any other information concerning the transactions contemplated hereby, without the prior written consent of Purchaser and Seller in each instance.
Section 4.7    Investment of Deposit.  Title Company will invest and reinvest the Deposit in an interest-bearing account at a commercial bank reasonably acceptable to Seller, Purchaser and Title Company.  The investment of the Deposit will be at the sole risk of Purchaser and no loss on any investment will relieve Purchaser of its obligations to pay to Seller as liquidated damages the original amount of the Deposit as provided in Article XIII, or of its obligation to pay the Purchase Price.  All interest earned on the Deposit shall be the property of Purchaser and will be reported to the Internal Revenue Service as income until such time as Seller is entitled to the Deposit pursuant to this Agreement.  Purchaser shall provide the Title Company with a taxpayer identification number and pay all income taxes due by reason of interest accrued on the Deposit.
Section 4.8    Designation of Reporting Person.  In order to assure compliance with the requirements of Section 6045 of the Internal Revenue Code of 1986, as amended (for purposes of this Section 4.8, the “Code”), and any related reporting requirements of the Code, the parties hereto agree as follows:
(a)    The Title Company (for purposes of this Section 4.8, the “Reporting Person”), by its execution hereof, hereby assumes all responsibilities for information reporting required under Section 6045(e) of the Code.
(b)    Seller and Purchaser each hereby agree:
(i)    to provide to the Reporting Person all information and certifications regarding such party, as reasonably requested by the Reporting Person or otherwise required to be provided by a party to the transaction described herein under Section 6045 of the Code; and
(ii)    to provide to the Reporting Person such party’s taxpayer identification number and a statement (on Internal Revenue Service Form W-9 or an acceptable substitute form, or on any other form the applicable current or future Code sections and regulations might require and/or any form requested by the Reporting Person), signed under penalties of perjury, stating that the taxpayer identification number supplied by such party to the Reporting Person is correct.

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(c)    Each party hereto agrees to retain this Agreement for not less than four years from the end of the calendar year in which Closing occurred, and to produce it to the Internal Revenue Service upon a valid request therefor.
The addresses for Seller and Purchaser are as set forth in Article XIV hereof, and the real estate subject to the transfer provided for in this Agreement is described in Exhibit A-1 and Exhibit A-2.
ARTICLE V     
INSPECTION OF PROPERTY
Section 5.1    Entry and Inspection.
(a)    From and after the Effective Date, but subject to the terms and provisions of this Agreement, Seller will permit Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real Property at all reasonable times during normal business hours to perform inspections of the Property.  Purchaser will provide to Seller written notice of the intention of Purchaser or the other Licensee Parties to enter the Real Property at least twenty-four (24) hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made.  At Seller’s option, Seller may be present for any such entry or inspection.  Notwithstanding anything to the contrary contained herein, no invasive testing, boring or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without Seller’s specific prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion.  Seller shall have the right to require Purchaser to provide Seller with a written testing plan in reasonable detail in order to allow Seller a reasonable opportunity to evaluate such proposal.  If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to its condition as existed immediately before any such borings or other disturbances were undertaken.  If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller, provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing.
(b)    Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with the transaction contemplated by this Agreement (so long as such communications can be conducted without disclosing that a sale of the Property is contemplated); provided, however, Purchaser shall provide Seller at least forty-eight (48) hours prior written notice of Purchaser’s intention to communicate with any Authorities and Seller shall have the right to participate in any such communications. 
Section 5.2    Document Review.  
(h)    For purposes of this Agreement, “Due Diligence Materials” means all documents, materials or other information made available by Seller to Purchaser pertaining to the Property or Seller.  Within five (5) Business Days of the Effective Date of this Agreement, Seller shall provide to Purchaser all documentation relating to the Property to the extent such documentation is in Seller’s possession or reasonable control, including, but not limited to:

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(i)    complete copies of all Service Contracts affecting any portion of the Property; 
(ii)    all maintenance records for the Improvements;
(iii)    a copy of all expense statements for the year 2012; 
(iv)    copies of all written warranties, if any, in effect pertaining to the Improvements or personal property;
(v)    the property tax bills and assessments for the Property, and any personal property tax bills through June 2013, as well as all tax appeal applications, inclusive of any appraisals and documentation incident to the Seller's appeal of tax assessment for the Property;
(vi)    all property condition or engineering reports relating to the physical condition of the Improvements, which were commissioned by Seller; 
(vii)    copies of all utility bills for the provision of all utilities supplied to the Property, including, but not limited to electricity, gas, water, telephone and sewer, for the prior six (6) months; and
(viii)    copies of all invoices and billings from owner's associations.
(i)    Purchaser acknowledges that any and all of the Due Diligence Materials are confidential and shall be provided to Purchaser solely to assist Purchaser in determining the feasibility of purchasing the Property.  Subject only to the provisions of Article XII, Purchaser agrees not to disclose the contents of the Due Diligence Materials or any other documents, materials or other information that Purchaser may receive with respect to the Property, or any of the provisions, terms or conditions contained therein, to any party outside of Purchaser’s organization other than its attorneys, consultants, partners, accountants, lenders or investors (collectively, the “Permitted Outside Parties”), unless required by applicable law, in which case Purchaser shall promptly give Seller written notice prior to such disclosure.  Purchaser further agrees that within its organization, or as to the Permitted Outside Parties, the Due Diligence Materials and other documents or materials that Purchaser may receive with respect to the Property, will be disclosed and exhibited only to those persons within Purchaser’s organization or to those Permitted Outside Parties who are responsible for determining the feasibility of Purchaser’s acquisition of the Property.  Purchaser agrees not to divulge the contents of the Due Diligence Materials or any other documents, materials or other information that Purchaser receives with respect to the Property, except in strict accordance with the confidentiality standards set forth in this Section 5.2 and Article XII.  In permitting Purchaser and the Permitted Outside Parties to review the Due Diligence Materials, Seller does not waive any privilege or claim of confidentiality with respect thereto, and no third party benefits or relationships of any kind, either express or implied, have been offered, intended or created by Seller and any such claims are expressly rejected by Seller and waived by Purchaser and the Permitted Outside Parties, for whom, by its execution of this Agreement, Purchaser is acting as an agent with regard to such waiver.  

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(j)    Purchaser will return to Seller all copies of the Due Diligence Materials and all copies of any studies, reports or test results regarding any part of the Property obtained by Purchaser before or after the execution of this Agreement, in connection with Purchaser’s inspection of the Property (collectively, “Purchaser’s Information”) not later than ten (10) days following any termination of this Agreement.
(k)    Purchaser acknowledges that some of the Due Diligence Materials may have been prepared by third parties and/or prepared prior to Seller’s ownership of the Property.  Purchaser hereby acknowledges that, except as expressly provided in Section 8.1 below, Seller has not made and does not make any representation or warranty regarding the truth, accuracy or completeness of the Due Diligence Materials or the sources thereof (whether prepared by Seller, Seller’s Affiliates or any other person or entity).  Seller has not undertaken any independent investigation as to the truth, accuracy or completeness of the Due Diligence Materials and is providing the Due Diligence Materials solely as an accommodation to Purchaser.
(l)    Notwithstanding any provision of this Agreement to the contrary, no termination of this Agreement will terminate Purchaser’s obligations pursuant to this Section 5.2, all of which shall survive the termination of this Agreement.
Section 5.3    Entry and Inspection Obligations.  
(a)    Purchaser agrees that in entering upon and inspecting or examining the Property, Purchaser and the other Licensee Parties shall not:  (i) unreasonably interfere with the operation and maintenance of the Property;  (ii) damage any part of the Property or any personal property owned or held by Seller or any other person or entity;  (iii) injure or otherwise cause bodily harm to Seller or its agents, guests, invitees, contractors and employees, or to any other person or entity;  (iv) permit any liens to attach to the Property by reason of the exercise of Purchaser’s rights under this Article V; or (v) reveal or disclose the Due Diligence Materials or any other documents, materials or other information obtained concerning the Property or Seller to anyone outside Purchaser’s organization, except in accordance with the confidentiality standards set forth in Section 5.2(b) and Article XII or applicable law.  Purchaser shall also:  (I) maintain and cause those entering the Property to maintain commercial general liability insurance issued by a financially responsible insurance company (at least an A- / VII rating in the most recent edition of Best’s Insurance Guide) having limits of no less than $2,000,000.00 per occurrence (inclusive of excess umbrella coverage), and on terms (including contractual indemnity coverage with respect to the indemnity in Section 5.3(b)) and in amounts satisfactory to Seller covering any matter arising in connection with the presence or activities of Purchaser or the other Licensee Parties on the Property, and that names Seller as an additional insured; prior to any entry onto the Property, Purchaser shall deliver to Seller a certificate of insurance verifying such coverage; (II) promptly pay when due the costs of all inspections, entries, samplings and tests and examinations done with regard to the Property; and (III) promptly restore the Property to its condition as existed immediately prior to any such inspection, investigations, examinations, entries, samplings and tests, but in no event later than five (5) days after the damage occurs.  All insurance required pursuant to clause (II) of the immediately preceding sentence shall be primary in relation to any insurance carried by Seller, shall contain a 

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full waiver of subrogation clause, and shall be written on an occurrence (and not a claims made) basis.  
(b)    Purchaser hereby indemnifies, defends and holds Seller and its agents, officers, directors, employees, successors, assigns and Affiliates harmless from and against any and all liens, claims, causes of action, damages, liabilities, demands, suits, and obligations, together with all losses, penalties, costs and expenses relating to any of the foregoing (including but not limited to court costs and reasonable attorneys’ fees) arising out of any inspections, investigations, examinations, entries, samplings or tests conducted by Purchaser or any Licensee Party, whether prior to or after the date hereof, with respect to the Property or arising out of any violation of the provisions of this Section 5.3.
(c)    Notwithstanding any provision of this Agreement to the contrary, neither the Closing nor a termination of this Agreement will terminate Purchaser’s obligations pursuant to this Section 5.3, all of which obligations shall survive the termination of this Agreement.
Section 5.4    Right of Termination.  Purchaser shall have the right to terminate this Agreement by written notice to Seller at any time prior to the expiration of the Due Diligence Period if Purchaser disapproves the Due Diligence Materials or any aspect of or matter pertaining to the Property.  Such right of disapproval may be for cause or no cause, which shall be in the sole and absolute discretion of Purchaser.  If Purchaser fails to terminate this Agreement by written notice to Seller prior to the expiration of the Due Diligence Period, then Purchaser shall be deemed to have approved the Property and the Due Diligence Materials and Purchaser shall have no further right to terminate the Agreement pursuant to this Section 5.4.
Section 5.5    Sale “As Is”.  EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 8.1 HEREOF (AS LIMITED BY SECTION 16.1 OF THIS AGREEMENT), PURCHASER HAS NOT RELIED UPON AND WILL NOT RELY UPON, EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION OR WARRANTY OF SELLER OR ANY OF SELLER’S AFFILIATES, AGENTS OR REPRESENTATIVES, AND PURCHASER HEREBY ACKNOWLEDGES THAT NO SUCH REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE.  EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 8.1 HEREOF (AS LIMITED BY SECTION 16.1 OF THIS AGREEMENT), SELLER SPECIFICALLY DISCLAIMS, AND NEITHER IT NOR ANY OF ITS AFFILIATES NOR ANY OTHER PERSON IS MAKING, ANY REPRESENTATION, WARRANTY OR ASSURANCE WHATSOEVER TO PURCHASER AND NO WARRANTIES OR REPRESENTATIONS OF ANY KIND OR CHARACTER, EITHER EXPRESS OR IMPLIED, ARE MADE BY SELLER OR RELIED UPON BY PURCHASER WITH RESPECT TO THE STATUS OF TITLE TO OR THE MAINTENANCE, REPAIR, CONDITION, DESIGN OR MARKETABILITY OF THE PROPERTY, OR ANY PORTION THEREOF, INCLUDING BUT NOT LIMITED TO (A) ANY IMPLIED OR EXPRESS WARRANTY OF MERCHANTABILITY, (B) ANY IMPLIED OR EXPRESS WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, (C) ANY IMPLIED OR EXPRESS WARRANTY OF CONFORMITY TO MODELS OR SAMPLES OF MATERIALS, (D) ANY RIGHTS OF PURCHASER UNDER APPROPRIATE STATUTES TO CLAIM DIMINUTION OF 

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CONSIDERATION, (E) ANY CLAIM BY PURCHASER FOR DAMAGES BECAUSE OF DEFECTS, WHETHER KNOWN, OR UNKNOWN, OR LATENT, WITH RESPECT TO THE REAL PROPERTY OR THE IMPROVEMENTS, (F) THE FINANCIAL CONDITION OR PROSPECTS OF THE PROPERTY, (G) THE COMPLIANCE OR LACK THEREOF OF THE REAL PROPERTY OR THE IMPROVEMENTS WITH GOVERNMENTAL REGULATIONS, OR (H) THE STATUS OF ANY ENTITLEMENTS FOR THE DEVELOPMENT OF FUTURE IMPROVEMENTS ON THE REAL PROPERTY, IT BEING THE EXPRESS INTENTION OF SELLER AND PURCHASER THAT, EXCEPT AS EXPRESSLY SET FORTH TO THE CONTRARY IN SECTION 8.1 OF THIS AGREEMENT (AS LIMITED BY SECTION 16.1 OF THIS AGREEMENT), THE PROPERTY WILL BE CONVEYED AND TRANSFERRED TO PURCHASER IN ITS PRESENT CONDITION AND STATE OF REPAIR, “AS IS” AND “WHERE IS”, WITH ALL FAULTS.  Purchaser represents that it is relying solely on its own judgment and the expertise of Purchaser’s consultants in purchasing the Property.  Prior to the expiration of the Due Diligence Period, Purchaser represents and agrees that it will have conducted such inspections, investigations and other independent examinations of the Property and related matters as Purchaser deems necessary, including but not limited to the physical and environmental conditions thereof, and will rely upon same and not upon any statements of Seller (excluding the specific matters represented by Seller in Section 8.1 hereof, as limited by Section 16.1 of this Agreement) or of any Affiliate, officer, director, employee, agent, broker or attorney of Seller.  Purchaser acknowledges that all information obtained by Purchaser was obtained from a variety of sources and Seller will not be deemed to have represented or warranted the completeness, truth or accuracy of any of the Due Diligence Materials or other such information heretofore or hereafter furnished to Purchaser.  Upon Closing, Purchaser will assume the risk that adverse matters, including, but not limited to, adverse physical and environmental conditions, may not have been revealed by Purchaser’s inspections and investigations.  Purchaser further hereby assumes the risk of changes in applicable Environmental Laws relating to past, present and future environmental health conditions on, or resulting from the ownership or operation of, the Property.  Purchaser acknowledges and agrees that upon Closing, Seller will sell and convey to Purchaser, and Purchaser will accept the Property, “AS IS, WHERE IS,” with all faults.  Purchaser further acknowledges and agrees that there are no oral agreements, warranties or representations, collateral to or affecting the Property, by Seller, an Affiliate of Seller, any agent of Seller or any third party.  Seller is not liable or bound in any manner by any oral or written statements, representations or information pertaining to the Property furnished by any real estate broker, agent, employee, servant or other person, unless the same are specifically and expressly set forth in this Agreement.  Purchaser acknowledges that the Purchase Price reflects the “AS IS, WHERE IS” nature of this sale and any faults, liabilities, defects or other adverse matters that may be associated with the Property.  Purchaser, with Purchaser’s counsel, has fully reviewed the disclaimers and waivers set forth in this Agreement, and understands the significance and effect thereof.  Purchaser acknowledges and agrees that the disclaimers and other agreements set forth herein are an integral part of this Agreement, and that Seller would not have agreed to sell the Property to Purchaser for the Purchase Price without the disclaimers and other agreements set forth in this Agreement.  The terms and conditions of this Section 5.5 will expressly survive the Closing and will not merge with the provisions of any closing documents.
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Purchaser Initials

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Section 5.6    Purchaser’s Release of Seller.
(a)    Seller Released From Liability.  Purchaser, on behalf of itself and its partners, members, shareholders, officers, directors, agents, employees and Affiliates, hereby releases Seller and Seller’s Affiliates from any and all liability, responsibility and claims arising out of or related to the condition (including, without limitation, the presence in the soil, air, structures and surface and subsurface waters, of Hazardous Substances that have been or may in the future be determined to be toxic, hazardous or otherwise subject to regulation and that may require treatment, handling, removal or remediation under current or future federal, state or local laws, regulations or guidelines), valuation, salability, utility or other aspect of the Property or the Due Diligence Materials, or the suitability of the Property for any purpose whatsoever, except to the extent of Seller’s liability under this Agreement for a material inaccuracy of any of Seller’s representations under Section 8.1 of this Agreement (as limited by Section 16.1) or Seller’s fraud.  Without limiting the foregoing, except to the extent of Seller’s liability under this Agreement for a material inaccuracy of any of Seller’s representations under Section 8.1 of this Agreement (as limited by Section 16.1) or Seller’s fraud, Purchaser specifically releases Seller and Seller’s Affiliates from any claims Purchaser may have against Seller and/or Seller’s Affiliates now or in the future pertaining to or arising from the environmental condition of the Property or the presence of Hazardous Substances or contamination on or emanating from the Property.  The foregoing waivers and releases by Purchaser shall survive either (i) the Closing and shall not be deemed merged into the provisions of any closing documents, or (ii) any termination of this Agreement.  
California Civil Code Section 1542 provides as follows:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.
By initialing this section, Purchaser acknowledges that it has read, is familiar with, and waives the provisions of California Civil Code Section 1542 set forth above and any similar provisions under Nevada law, and agrees to all of the provisions of this Section 5.6(a).
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Purchaser Initials
(b)    Purchaser’s Waiver of Objections.  Purchaser acknowledges that prior to the expiration of the Due Diligence Period it will have inspected the Property, observed its physical characteristics and existing conditions and had the opportunity to conduct such investigations and studies on and of said Property and adjacent areas as it deems necessary, and excepting only Seller’s responsibility for any breach of the warranties and representations contained in Section 8.1 of this Agreement (as limited by Section 16.1 of this Agreement) or Seller’s fraud, Purchaser hereby waives any and all objections to or complaints (including but not limited to actions based on federal, state or common law and any private right of action under CERCLA, RCRA or any other state and federal law to which the Property is or may be subject) against Seller, its Affiliates, or their respective 

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officers, directors, employees or agents regarding physical characteristics and existing conditions, including without limitation structural and geologic conditions, subsurface soil and water conditions and solid and hazardous waste and Hazardous Substances on, under, adjacent to or otherwise affecting the Property or related to prior uses of the Property.  

(c)    Assumption of Risk.  Purchaser further hereby assumes the risk of changes in applicable laws and regulations relating to past, present and future environmental, safety or health conditions on, or resulting from the ownership or operation of, the Property, and the risk that adverse physical characteristics and conditions, including without limitation the presence of Hazardous Substances or other substances, may not be revealed by its investigation.
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Purchaser Initials
(d)    Survival.  The provisions of this Section 5.6 shall survive either (i) the Closing and shall not be deemed merged into the provisions of any closing documents, or (ii) any termination of this Agreement.
Section 5.7    Parking Improvement Construction Contract.  On or before the date that is ten (10) days after the Effective Date, Seller shall deliver to Purchaser the proposed form of the construction agreement to be entered into between Purchaser and a locally-licensed general contractor selected by Seller (in its sole and absolute discretion) (the “General Contractor”) for the construction of a surface parking lot on the eastern half of the Parking Parcel as shown on the site plan attached hereto as Exhibit A-2 consisting of a total of 107 parking spaces consistent with the design and development standards set forth in the applicable Association Regulations and applicable law (collectively, the “Parking Improvements”).  Seller and Purchaser shall use reasonable efforts to agree upon the final form of such construction agreement (the “Approved Construction Contract”) prior to the expiration of the Due Diligence Period.  On or before the Closing in accordance with Sections 10.2 and 10.3 of this Agreement, (i) Purchaser shall execute, and deliver in escrow to the Title Company, a counterpart of the final form of the construction contract negotiated by Seller with the General Contractor so long as such contract is in substantially the form of the Approved Construction Contract (the “Final Construction Contract”), and (ii) Seller shall cause the General Contractor to execute, and deliver in escrow to the Title Company, a counterpart of the Final Construction Contract.
ARTICLE VI     
TITLE AND SURVEY MATTERS
Section 6.1    Title Report.  Purchaser shall obtain from Title Company a preliminary title report (the “Title Report”) concerning the Real Property and Improvements.  Purchaser acknowledges that the Title Report may identify matters pertaining to the land adjacent to the Parking Parcel that is a part of the same legal parcel due to the fact that such land has not yet been subdivided from the Parking Parcel.  Purchaser shall have until the date that is twenty-five (25) days after the Effective Date to provide written notice to Seller (“Purchaser’s Title Notice”) 

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of any matters affecting or relating to title to the Real Property and Improvements, including any survey matters, that are not satisfactory to Purchaser in its sole and absolute discretion (collectively, the “Title Objections”).  If Purchaser does not deliver Purchaser’s Title Notice by the foregoing date, Purchaser shall be deemed to have approved the condition of title to the Property as disclosed by the Title Report.  In the event that Purchaser delivers Purchaser’s Title Notice, within four (4) days after receipt of Purchaser’s Title Notice, Seller shall notify Purchaser (“Seller’s Title Notice”) of those Title Objections that Seller agrees to use its commercially reasonable efforts to cure prior to the Closing (the “Curative Items”).  The cure by Seller of the Curative Items shall be a condition precedent to Purchaser’s obligations with respect to the Closing.  On or prior to the expiration of the Due Diligence Period, Purchaser shall notify Seller in writing of either its approval of Seller’s Title Notice (in which case any Title Objections not included in Seller’s Title Notice as Curative Items shall be deemed approved by Purchaser and shall constitute Permitted Exceptions) or its election to terminate this Agreement.  If Purchaser does not notify Seller of its termination of the Agreement prior to the expiration of the Due Diligence Period, then Purchaser shall be deemed to have approved Seller’s Title Notice.  In the event of the termination of this Agreement by Purchaser as provided above, the Deposit shall be returned to Purchaser, and neither party shall thereafter have any further rights, obligations or liability hereunder except with respect to provisions hereof which by their express terms survive a termination of this Agreement.  Notwithstanding any contrary provision hereof, or whether or not Purchaser makes Title Objections, Seller must remove any lien, judgment or other monetary claim against the Real Property and Improvements or otherwise cause Title Company to provide coverage against, any monetary liens (other than non-delinquent taxes or assessments or any liens caused or suffered by Purchaser) that encumber the Real Property and Improvements as of the Closing Date.
Section 6.2    Permitted Exceptions.  As a condition to the Closing, Title Company shall issue (or irrevocably commit to issue) to Purchaser a 2006 ALTA owner’s policy of title insurance (“Title Policy”) in the amount of the Purchase Price, insuring Purchaser’s fee simple title to the Real Property and Improvements, subject only to those matters (the “Permitted Exceptions”) affecting or relating to title: (a) shown in the Title Report, except for those items that were objected to by Purchaser in Purchaser’s Title Notice and included as Curative Items in Seller’s Title Notice that was approved (or deemed approved) by Purchaser; (b) matters that would be disclosed by an ALTA survey of the Property, except for items objected to by Purchaser in Purchaser’s Title Notice and included as Curative Items in Seller’s Title Notice that was approved (or deemed approved) by Purchaser; (c) liens for taxes, assessments and governmental charges with respect to the Property not yet due and payable; (d) applicable zoning regulations and ordinances and other governmental laws, ordinances and regulations; and (e) other matters approved by Purchaser in writing.  Purchaser shall be responsible for providing Title Company with any survey required by Title Company to issue such coverage or may elect a survey exception to remain on the Title Policy.
ARTICLE VII     
SELLER COVENANTS
Section 7.1    Interim Covenants.  Seller covenants to Purchaser as follows:

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(d)    Operations.  From and after the expiration of the Due Diligence Period, Seller shall not make any alterations or improvements to the Real Property and Improvements, except to the extent required by applicable law or except with the prior written consent of Purchaser, which consent may be withheld by Purchaser in its sole and absolute discretion.
(e)    Maintain Insurance.  From the Effective Date until Closing, Seller shall maintain fire and extended coverage insurance on the Improvements which is at least equivalent in all material respects to Seller’s insurance policies covering the Improvements as of the Effective Date.
(f)    No Leases.  From the Effective Date until Closing, Seller shall not enter into any lease or other occupancy agreement pertaining to the Real Property or Improvements that will be binding upon Purchaser after the Closing.  
(g)    Service Contracts.  From and after the expiration of the Due Diligence Period, Seller shall not enter into any service contract that will be binding upon Purchaser after the Closing, except with the prior written consent of Purchaser, which consent may be withheld by Purchaser in its sole and absolute discretion.
(h)    Subdivision Requirement.  On or before the Closing, Parking Seller shall (at its sole cost and expense) provide proof of the following (collectively, the “Subdivision Requirement”):  (i) prepare and record a Record of Survey or other subdivision map to subdivide the Parking Parcel into a separate legal parcel and obtain any necessary approvals from any Authorities in connection therewith, if any; (ii) prepare plans necessary to cause the construction of the Parking Improvements (as defined below) on the Parking Parcel, which plans shall be approved by Purchaser; provided, however, Purchaser (a) shall not unreasonably withhold, condition or delay such approval, (b) shall have five (5) Business Days from Purchaser’s receipt of such plans to review and approve of such plans, and if Purchaser fails to respond within such five (5) Business Day period, Purchaser shall be deemed to have approved of such plans, and (c) shall not have the right to disapprove of any such plans so long as such plans provide a total of 107 surface parking spaces and are consistent with any applicable development and design standards required by the Association Regulations (the “Approved Parking Improvement Plans”); (iii) obtain all necessary zoning, use or other discretionary approvals from Authorities for the Parking Improvements, if any; and (iv) obtain all necessary approvals for the Parking Improvements required by the Association Regulations (including any architectural review committees).   
Section 7.2    Post-Closing Parking Improvements; Holdback. If the Closing occurs, on or before the date that is 180 days after the Closing Date (the “Completion Deadline”), Parking Seller shall (at its sole cost and expense) cause the substantial completion of the Parking Improvements by the General Contractor under the Final Construction Contract.  At Closing, Seller, Purchaser and Title Company shall execute and deliver an escrow holdback agreement in the form attached hereto as Exhibit D (“Holdback Agreement”), which will specify the terms under which Title Company will retain in escrow from the sale proceeds due to Seller at Closing an amount equal to One Hundred Twenty-Five Percent (125%) of the guaranteed maximum price under the Final Construction Contract (the “Holdback Funds”) to be released in monthly progress payments for the construction of the Parking Improvements and the twenty-five percent (25%) cushion (to the 

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extent not applied to the construction of the Parking Improvements) to be released to Seller upon the substantial completion of the Parking Improvements.  Notwithstanding any contrary provision of this Agreement, the Completion Deadline shall be extended on a day-for-day basis for each day of any delay in completing the Parking Improvements that is caused by any event or condition beyond the reasonable control of Seller, including inclement weather or shortage of materials.  If Seller has not caused the substantial completion of the Parking Improvements by the Completion Deadline, Purchaser shall be entitled, but not obligated, upon fifteen (15) days prior written notice to Seller and if Seller does not cause the completion of the Parking Improvements within such 15-day period, to undertake the cure of any remaining Parking Improvements and in connection therewith, Purchaser shall be entitled to have released to it the entire remaining balance of the Holdback Funds.  Thereafter, Seller shall have no further right to coordinate the construction of the Parking Improvements with the General Contractor and shall have no right of offset to the Holdback Funds for Parking Improvements completed (“Parking Improvement Termination”).  This Section 7.2 shall survive the Closing.
Section 7.3    Parking Improvement Contracts.  All contracts entered into after the Closing for the Parking Improvements, including, without limitation, the Final Construction Contract (collectively, the “Parking Improvement Contracts”) shall be in the name of Purchaser (or the then Parking Parcel owner), but so long as there is no Parking Improvement Termination: (i) the payment obligations therein shall be satisfied out of the Holdback Funds, and (ii) Parking Seller shall have the sole right to coordinate the construction of the Parking Improvements with the General Contractor, and interact with and approve the work of the third parties retained by Purchaser under the Parking Improvement Contracts, on behalf of Purchaser (or the then Parking Parcel owner) so long as such development work is consistent with the Approved Parking Improvement Plans.  Notwithstanding the foregoing, Purchaser shall be solely responsible for the cost of any change orders initiated by Purchaser (or the then Parking Parcel owner) under any Parking Improvement Contracts, and the Holdback Funds shall not be used for any costs in connection with such Purchaser-initiated change orders.  From and after the Closing (except in the event of a Parking Improvement Termination), Parking Seller, its agents and contractors shall have full access to and may enter upon the Parking Parcel to coordinate the construction of the Parking Improvements with the General Contractor in accordance with this Section 7.3.  This Section 7.3 shall survive the Closing. 

ARTICLE VIII     
REPRESENTATIONS AND WARRANTIES
Section 8.1    Seller’s Representations and Warranties.  The following constitute the sole representations and warranties of Seller.  Subject to the limitations set forth in Article XVI of this Agreement, Office Seller and Parking Seller (jointly and severally) represent and warrant to Purchaser the following as of the Effective Date and the Closing Date:
(a)    Status.  Seller is a limited liability company duly organized and validly existing under the laws of the State of Delaware, and is qualified to do business in the State of Nevada.

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(b)    Authority.  The execution and delivery of this Agreement and the performance of Seller’s obligations hereunder have been or will be duly authorized by all necessary action on the part of Seller, and this Agreement constitutes the legal, valid and binding obligation of Seller, subject to equitable principles and principles governing creditors’ rights generally.
(c)    Non-Contravention.  The execution and delivery of this Agreement by Seller and the performance by Seller of Seller’s obligations under this Agreement do not violate any judgment, order, injunction, decree, regulation or ruling of any court or Authority or conflict with, result in a breach of, or constitute a default under the organizational documents of Seller, any note or other evidence of indebtedness, any mortgage, deed of trust or indenture, or any lease or other material agreement or instrument to which Seller is a party or by which it is bound.
(d)    Consents.  No consent, waiver, approval or authorization is required from any person or entity (that has not already been obtained) in connection with the execution and delivery of this Agreement by Seller or the performance by Seller of the transaction contemplated hereby (other than in connection with the Subdivision Requirement).
(e)    Suits and Proceedings.  To Seller’s Knowledge as of the Effective Date, there are no legal actions or lawsuits pending or threatened against Seller pertaining to the Property or Seller, which if adversely determined would materially adversely affect Seller’s ability to perform Seller’s obligations under this Agreement.
(f)    Non-Foreign Entity.  Seller is not a “foreign person” or “foreign corporation” as those terms are defined in the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.
(g)    No Tenants.  To Seller’s Knowledge, there are no leases, licenses, options, first rights of refusal or offer, or occupancy agreements affecting the Real Property or Improvements to which Seller is a party and which will be binding upon the Real Property and Improvements after the Closing (other than Seller’s engineering office which will be vacated prior to Closing). 
(h)    Service Contracts.  To Seller’s Knowledge as of the Effective Date, Exhibit B attached hereto constitutes all of the currently effective Service Contracts under which Seller is currently paying for services rendered in connection with the Property. 
(i)    Condemnation. To Seller’s Knowledge, there are no threatened or pending annexation, condemnation, or other proceedings pending or proposed affecting any part of the Property.
(j)    No Violations of Law.  To Seller’s Knowledge, there are not any uncured violations of Federal, State, or municipal laws, ordinances, orders, regulations or requirements affecting any portion of the Property, excluding the Americans with Disabilities Act.
Section 8.2    Purchaser’s Representations and Warranties.  Purchaser represents and warrants to Seller the following:

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(a)    Status.  Purchaser is a limited liability company duly organized and validly existing under the laws of the State of Nevada.
(b)    Authority.  The execution and delivery of this Agreement and the performance of Purchaser’s obligations hereunder have been or will be duly authorized by all necessary action on the part of Purchaser and its constituent owners and/or beneficiaries and this Agreement constitutes the legal, valid and binding obligation of Purchaser, subject to equitable principles and principles governing creditors’ rights generally.
(c)    Non-Contravention.  The execution and delivery of this Agreement by Purchaser and the consummation by Purchaser of the transactions contemplated hereby will not violate any judgment, order, injunction, decree, regulation or ruling of any court or Authority or conflict with, result in a breach of, or constitute a default under the organizational documents of Purchaser, any note or other evidence of indebtedness, any mortgage, deed of trust or indenture, or any lease or other material agreement or instrument to which Purchaser is a party or by which it is bound.
(d)    Consents.  No consent, waiver, approval or authorization is required from any person or entity (that has not already been obtained) in connection with the execution and delivery of this Agreement by Purchaser or the performance by Purchaser of the transaction contemplated hereby.
ARTICLE IX     
CONDEMNATION AND CASUALTY
In the event that prior to the Closing any portion of the Real Property or Improvements is taken or notice is given to Seller of a proposed taking pursuant to eminent domain proceedings or the Improvements are materially damaged or destroyed by any casualty, Seller shall give Purchaser prompt written notice of the same after Seller’s discovery thereof.  Seller shall have no obligation to repair or replace (or cause to be repaired or replaced) any such damage, destruction or taken property, and Purchaser shall have no right to terminate this Agreement by reason thereof, except as expressly provided in this Article IX.  Except to the extent any condemnation proceeds or insurance proceeds are (x) attributable to loss of use of the Property or other items applicable to any period prior to the Closing, or (y) required for collection or repair costs incurred by Seller prior to the Closing, at Closing Seller shall (i) assign to Purchaser all claims respecting any condemnation or casualty insurance coverage, as applicable, and all condemnation proceeds or proceeds from any such casualty insurance received by Seller on account of any casualty, as applicable, and (ii) provide a credit to Purchaser in an amount equal to the deductibles for such insurance, less any repair costs incurred by Seller prior to the Closing.
Notwithstanding the foregoing provisions of this Article IX, in the event that prior to the Closing eminent domain proceedings are commenced or notice is provided to Seller concerning such impending proceedings for the condemnation of the Real Property or Improvements (or a portion thereof), and such condemnation constitutes a Material Taking (as defined below), then Purchaser shall have the right to terminate this Agreement by written notice to Seller within ten (10) days after receipt of written notice from Seller of such condemnation or impending proceedings.  

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For purposes hereof, a “Material Taking” means a taking that will materially impair the use or operation of  the Real Property and Improvements after the completion of any repairs to the balance of the Real Property and Improvements for Purchaser's intended purpose, the cost of which are reimbursed from the condemnation proceeds to be received by Purchaser.
Notwithstanding the foregoing provisions of this Article IX, in the event that prior to the Closing the Improvements are damaged or destroyed by a Material Casualty (as defined below), then Purchaser shall have the right to terminate this Agreement by written notice to Seller within ten (10) days after receipt of written notice from Seller of such casualty.  For purposes hereof, a “Material Casualty” shall mean a casualty that causes damage the repair cost of which exceeds twenty-five percent (25%) of the Purchase Price. 
In the event of the termination of this Agreement by Purchaser pursuant to this Article IX, Purchaser shall be entitled to the return of the Deposit, and neither party shall have any further rights or obligations accruing under this Agreement after the date of such termination, except with respect to the Termination Surviving Obligations.
ARTICLE X     
CLOSING
Section 10.1    Closing.  The Closing of the sale of the Property by Seller to Purchaser shall occur on the Closing Date through the escrow established with the Title Company; provided, however, if all of the Subdivision Requirement is not satisfied by Seller on or before the date this is 180 days after the expiration of the Due Diligence Period (the “Outside Date”), Purchaser shall thereafter be entitled to terminate this Agreement by written notice to Seller and Title Company, in which event Purchaser will receive from the Title Company the Deposit and Seller and Purchaser will have no further rights or obligations under this Agreement, except with respect to the Termination Surviving Obligations.  The Closing shall occur in accordance with the terms and provisions of this Article X, it being understood that the performance or tender of performance of all matters set forth in this Article X are mutually concurrent conditions which may be waived by the party for whose benefit they are intended.
Section 10.2    Purchaser’s Closing Obligations.  At least one (1) Business Day prior to the Closing Date, Purchaser, at its sole cost and expense, shall deliver the following items in escrow with the Title Company pursuant to Section 4.3, for delivery to Seller at Closing as provided herein:
(d)    the Purchase Price, after all adjustments are made at the Closing as herein provided, by wire transfer of immediately available funds, in accordance with the terms and provisions of Article III;
(e)    a counterpart of the General Conveyance and Assignment and Assumption substantially in the form attached hereto as Exhibit E (the “General Conveyance”) duly executed by Purchaser; 
(f)    a counterpart of the Holdback Agreement duly executed by Purchaser;

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(g)    a counterpart of the Restrictive Covenant Agreement duly executed and acknowledged by Purchaser;
(h)    a counterpart of the Final Construction Contract duly executed by Purchaser;
(i)    evidence reasonably satisfactory to Seller that the person executing the Closing documents on behalf of Purchaser has full right, power, and authority to do so;
(j)    any Authority required transfer declaration forms (including, without limitation, the Nevada Declaration of Value Form); and 
(k)    such other documents as may be reasonably necessary or appropriate to effect the consummation of the transactions which are the subject of this Agreement.
Section 10.3    Seller’s Closing Obligations.  Seller, at its sole cost and expense, will deliver (i) the following items (a) through (i), inclusive, in escrow with the Title Company pursuant to Section 4.3, and (ii) upon consummation of the Closing, Seller shall deliver the following items (j) and (k) to Purchaser at the Property:
(a)    a grant deed substantially in the form attached hereto as Exhibit F (the “Deed”), duly executed and acknowledged by Seller conveying to Purchaser the Real Property and the Improvements subject only to the Permitted Exceptions, which Deed shall be delivered to Purchaser by the Title Company agreeing to cause the same to be recorded in the Official Records;
(b)    a counterpart of the General Conveyance duly executed by Seller;
(c)    a counterpart of the Holdback Agreement duly executed by Seller;
(d)    a counterpart of the Restrictive Covenant Agreement duly executed and acknowledged by Seller and Seller’s Affiliates with are parties thereto;
(e)    a counterpart of the Final Construction Contract duly executed by the General Contractor;
(f)    evidence reasonably satisfactory to Title Company and Purchaser that the person executing the Closing documents on behalf of Seller has full right, power and authority to do so;
(g)    a certificate in the form attached hereto as Exhibit G (“Certificate as to Foreign Status”) certifying that Seller is not a “foreign person” as defined in Section 1445 of the Internal Revenue Code of 1986, as amended;
(h)    any Authority required transfer declaration forms (including, without limitation, the Nevada Declaration of Value Form);
(i)    such other documents as may be reasonably necessary or appropriate to effect the consummation of the transactions which are the subject of this Agreement;

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(j)    originals (or copies as available) of all Licenses and Permits and Assumed Service Contracts assigned to Purchaser, to the extent in Seller’s possession; 
(k)    all keys to the Improvements in Seller’s possession; and
(l)    all documentation received by Seller in connection with the satisfaction of the Subdivision Requirement, including, without limitation, a conformed copy of the Record of Survey or other subdivision map (or an original if such map is to be recorded by the Title Company immediately prior to the Deed), final construction plans and entitlement approvals (if any).
Section 10.4    Prorations.  Seller and Purchaser agree to adjust, as of 11:59 p.m. on the day immediately preceding the date of the Closing (the “Proration Time”), the following (collectively, the “Proration Items”):  real estate and personal property taxes and assessments which are required to be paid for the calendar year in which the Closing occurs, utility bills (except as hereinafter provided), any revenues from rents or other sources (if any), and operating expenses payable by the owner of the Property.  Seller will be charged and credited for the amounts of all of the Proration Items relating to the period up to and including the Proration Time, and Purchaser will be charged and credited for all of the Proration Items relating to the period after the Proration Time.  The estimated Closing prorations shall be set forth on a preliminary closing statement to be prepared by Seller and submitted to Purchaser for Purchaser’s approval (which approval shall not be unreasonably withheld, delayed or conditioned) prior to the Closing (the “Closing Statement”).  The Closing Statement, once agreed upon, shall be signed by Purchaser and Seller and delivered to the Title Company for purposes of making the preliminary proration adjustment at Closing, subject to the final reconciliation after Closing as set forth below.  The preliminary prorations shall be paid at Closing by Purchaser to Seller (if the preliminary prorations result in a net credit to Seller) or by Seller to Purchaser (if the preliminary prorations result in a net credit to Purchaser) by increasing or reducing the amount of Purchase Price funds to be delivered by Purchaser at the Closing.  If the actual amounts of the Proration Items are not known as of the Proration Time, the prorations shall be made at Closing on the basis of the best evidence then available; thereafter, when actual figures are received, re-prorations shall be made on the basis of the actual figures, and a final cash settlement shall be made between Seller and Purchaser.  No prorations shall be made in relation to insurance premiums and Seller’s insurance policies shall not be assigned to Purchaser.  Final readings and final billings for utilities shall be made if possible as of the Proration Time, in which event no proration shall be required with respect to utility bills.  Seller shall be entitled to the return of all deposits presently in effect with the utility providers, and Purchaser shall be obligated to make its own arrangements for deposits with the utility providers.  A final reconciliation of Proration Items shall be made by Purchaser and Seller within ninety (90) days following the Closing.  The provisions of this Section 10.4 will survive the Closing for six (6) months.
Section 10.5    Delivery of Real Property.  Upon completion of the Closing, Seller will deliver to Purchaser possession of the Real Property and Improvements, subject to the Permitted Exceptions.
Section 10.6    Costs of Title Company and Closing Costs.  Costs of the Title Company and other Closing costs incurred in connection with the Closing shall be allocated as follows:

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(a)    Purchaser shall pay (i) any premium and other costs for the Title Policy including the cost of any endorsements or upgrades (other than endorsements payable by Seller pursuant to Section 10.6(b) below); (ii) all premiums and other costs for any lender policy of title insurance, including but not limited to any endorsements; (iii) the costs associated with any survey of the Real Property and Improvements (other than as required in connection with the Subdivision Requirement); (iv) Purchaser’s attorney’s fees; (v) all of the Title Company’s escrow and closing fees, if any; (vi) all recording fees; (vii) all documentary transfer taxes or any other transfer taxes; and (viii) any broker commissions due to Purchaser’s Broker;
(b)    Seller will pay (i) the cost to cure a Curative Item that Seller agrees to cause to be cured as a condition to Closing; (ii) Seller’s attorneys’ fees; (iii) all reasonable costs to satisfy the Subdivision Requirement, and (iv) out of the Holdback Funds, all construction costs for Parking Improvements after the Closing;
(c)    any other costs and expenses of Closing not provided for in this Section 10.6 shall be paid by Purchaser; and
(d)    if the Closing does not occur on or before the Closing Date for any reason whatsoever, the costs incurred through the date of termination will be borne by the party incurring same.
The terms and conditions of this Section 10.6 shall survive the Closing or any termination of this Agreement.
ARTICLE XI     
BROKERAGE
Purchaser agrees to pay to Advisory Services, LLC (“Purchaser’s Broker”) a real estate commission at Closing (but only in the event that the Closing occurs under this Agreement) pursuant to a separate agreement between Purchaser and Broker.  Seller may pay a real estate commission at Closing to CB Richard Ellis (together with Purchaser’s Broker, the “Brokers”).  Regardless of whether Seller pays a commission to CB Richard Ellis, Purchaser shall have no obligation to pay or set aside purchase proceeds for the payment of any such commission, and Seller hereby agrees to indemnify, defend and hold Purchaser harmless for any claim of commission from such broker.  Other than as stated in the first sentence of this Article XI, each party represents to the other that no real estate brokers, agents or finders’ fees or commissions are due or will be due or arise in connection with the execution of this Agreement or consummation of this transaction by reason of the acts of such party, and each party shall indemnify, defend and hold the other party harmless from any brokerage or finder’s fee or commission claimed by any person based on the acts of or communications with the indemnifying party for or on account of this Agreement or the transactions contemplated hereby.  The provisions of this Article XI shall survive any Closing or termination of this Agreement.
ARTICLE XII     
CONFIDENTIALITY

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Section 12.1    Confidentiality.  Each of Seller and Purchaser acknowledges and agrees that, unless and until the Closing occurs, the transactions contemplated by this Agreement and the terms, conditions, and negotiations concerning the same will be held in the strictest confidence by each of them and will not be disclosed by either of them except to their respective legal counsel, accountants, consultants, officers, directors, investors, partners, directors and shareholders, and except and only to the extent that such disclosure may be necessary for their respective performances hereunder or as otherwise required by applicable law.  Purchaser further acknowledges and agrees that, until the Closing occurs, all information obtained by Purchaser in connection with the Property will not be disclosed by Purchaser to any third persons without the prior written consent of Seller.  Both before and after the Closing, no public announcements or press releases with respect to the transactions contemplated hereby or consummated in accordance with the terms hereof shall be disseminated by either party or any representative of either party without the express prior written approval of the other party.  Nothing contained in this Article XII will preclude or limit either party to this Agreement from disclosing or accessing any information otherwise deemed confidential under this Article XII in connection with that party’s enforcement of its rights following a disagreement hereunder, or in response to lawful process or subpoena or other valid or enforceable order of a court of competent jurisdiction or any filings with governmental authorities required by reason of the transactions provided for herein pursuant to an opinion of counsel.  The provisions of this Article XII will survive any termination of this Agreement. 
ARTICLE XIII     
REMEDIES
Section 13.1    Default by Seller.  In the event the Closing of the purchase and sale transaction provided for herein does not occur as herein provided by reason of any default of Seller, Purchaser may, as Purchaser’s sole and exclusive remedy, elect by notice to Seller within ten (10) Business Days following the scheduled Closing Date, either of the following:  (a) terminate this Agreement, in which event Purchaser will receive from the Title Company the Deposit, whereupon Seller and Purchaser will have no further rights or obligations under this Agreement, except with respect to the Termination Surviving Obligations; or (b) seek to enforce specific performance of the Agreement, and in either event, Purchaser hereby waives all other remedies, including without limitation, any claim against Seller for damages of any type or kind including, without limitation, consequential or punitive damages.  Failure of Purchaser to make the foregoing election within the foregoing ten (10)  Business Day period shall be deemed an election by Purchaser to terminate this Agreement and receive from the Title Company the Deposit, whereupon Seller and Purchaser will have no further rights or obligations under this Agreement, except with respect to the Termination Surviving Obligations.  Notwithstanding the foregoing, nothing contained in this Section 13.1 will limit Purchaser’s remedies at law, in equity or as herein provided in the event of a breach by Seller of any of the Closing Surviving Obligations after Closing or the Termination Surviving Obligations after termination.
Section 13.2    DEFAULT BY PURCHASER.  IN THE EVENT THE CLOSING AND THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED HEREIN DO NOT OCCUR AS PROVIDED HEREIN BY REASON OF ANY DEFAULT OF PURCHASER, PURCHASER AND SELLER AGREE IT WOULD BE IMPRACTICAL AND EXTREMELY 

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DIFFICULT TO FIX THE DAMAGES WHICH SELLER MAY SUFFER.  PURCHASER AND SELLER HEREBY AGREE THAT (I) AN AMOUNT EQUAL TO THE DEPOSIT, TOGETHER WITH ALL INTEREST ACCRUED THEREON, IS A REASONABLE ESTIMATE OF THE TOTAL NET DETRIMENT SELLER WOULD SUFFER IN THE EVENT PURCHASER DEFAULTS AND FAILS TO COMPLETE THE PURCHASE OF THE PROPERTY, AND (II) SUCH AMOUNT WILL BE THE FULL, AGREED AND LIQUIDATED DAMAGES FOR PURCHASER’S DEFAULT AND FAILURE TO COMPLETE THE PURCHASE OF THE PROPERTY, AND WILL BE SELLER’S SOLE AND EXCLUSIVE REMEDY (WHETHER AT LAW OR IN EQUITY) FOR ANY DEFAULT OF PURCHASER RESULTING IN THE FAILURE OF CONSUMMATION OF THE CLOSING, WHEREUPON THIS AGREEMENT WILL TERMINATE AND SELLER AND PURCHASER WILL HAVE NO FURTHER RIGHTS OR OBLIGATIONS HEREUNDER, EXCEPT WITH RESPECT TO THE TERMINATION SURVIVING OBLIGATIONS.  NOTWITHSTANDING THE FOREGOING, NOTHING CONTAINED IN THIS SECTION 13.2 HEREIN WILL LIMIT SELLER’S REMEDIES AT LAW, IN EQUITY OR AS HEREIN PROVIDED IN THE EVENT OF A BREACH BY PURCHASER OF ANY OF THE CLOSING SURVIVING OBLIGATIONS OR THE TERMINATION SURVIVING OBLIGATIONS.
_______________    ______________
Purchaser Initials    Seller Initials
Section 13.3    Consequential and Punitive Damages.  Each of Seller and Purchaser waive any right to sue the other for any consequential or punitive damages for matters arising under this Agreement.  This Section 13.3 shall survive Closing or termination of this Agreement.
ARTICLE XIV     
NOTICES
All notices or other communications required or permitted hereunder will be in writing, and will be given by (a) personal delivery, or (b) professional expedited delivery service with proof of delivery, or (c) United States mail, postage prepaid, registered or certified mail, return receipt requested, or (d) facsimile or electronic transmission (providing that such transmission is confirmed by the sender by expedited delivery service in the manner previously described), sent to the intended addressee at the address set forth below, or to such other address or to the attention of such other person as the addressee will have designated by written notice sent in accordance herewith and will be deemed to have been given either at the time of personal delivery, or, in the case of expedited delivery service or mail, as of the date of first attempted delivery on a Business Day at the address or in the manner provided herein, or, in the case of facsimile or electronic transmission, upon receipt if on a Business Day and, if not on a Business Day, on the next Business Day.  Unless changed in accordance with the preceding sentence, the addresses for notices given pursuant to this Agreement will be as follows:
To Purchaser:    
Allegiant Air, LLC
8360 S. Durango Drive

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Las Vegas, Nevada  89113 
Attn:  Keith Hansen
Tel: (702) 719-8105
Email: keith.hansen@allegiantair.com

With a copy to:
Richard L. Tobler, Esq.
Richard L. Tobler, Ltd. 
3654 N. Rancho Drive, Suite 102
Las Vegas, Nevada 89130
Tel:  (702) 256-6000
Fax:  (702) 256-2248
Email: rltltd@hotmail.com

To Seller:    
Crossing Business Center 1 and 2 LLC
Crossing Business Center 7 LLC
c/o Hines Interests Limited Partnership
444 South Flower Street, Suite 2100
Los Angeles, California 90071
Attn:  Douglas H. Metzler and Brett Norton
Fax:  (213) 629-1423

With a copy to:

Munger, Tolles & Olson LLP
355 South Grand Avenue, Suite 3500
Los Angeles, California 90071
Attn:  Misty M. Sanford, Esq.
Facsimile:  (213) 683-5110
Email:  misty.sanford@mto.com

ARTICLE XV     
ASSIGNMENT AND BINDING EFFECT
Section 15.1    Assignment; Binding Effect.  Purchaser shall have no right to assign this Agreement without the prior written consent of Seller in its sole and absolute discretion.  Notwithstanding the foregoing to the contrary, Purchaser may assign this Agreement to an Affiliate of Purchaser without Seller’s prior written consent; provided that no such assignment shall release Purchaser from its obligations or liabilities under this Agreement and such assignee shall expressly, unconditionally and fully assume, without modification, this Agreement and all of the obligations and liabilities of Purchaser hereunder in writing, and shall confirm in writing that all representations and warranties set forth in Section 8.2 are true and correct with respect to such assignee.   Further, at Closing, Purchaser may nominate an entity that is wholly-owned by Purchaser to take title to the 

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Property.  This Agreement will be binding upon and inure to the benefit of Seller and Purchaser and their respective successors and permitted assigns and nominees, and no other party will be conferred any rights by virtue of this Agreement or be entitled to enforce any of the provisions hereof.  Whenever a reference is made in this Agreement to Seller or Purchaser, such reference will include the successors and permitted assigns of such party under this Agreement.  

ARTICLE XVI     
LIMITATION ON SELLER’S LIABILITY 
Section 16.1    Survival of Seller’s Representations and Warranties; Limitation on Seller’s Liability.  
(a)    Notwithstanding any contrary provision of this Agreement, the representations and warranties of Seller set forth in Section 8.1 and Seller’s liability under Section 8.1 will survive the Closing for a period of nine (9) months, and Seller shall have no liability with respect to the breach of any representation or warranty unless Purchaser commences legal action with respect to such breach within such nine (9)-month period.  
(b)    Notwithstanding any contrary provision of this Agreement, the maximum aggregate liability of Seller for any breach of the express representations and warranties set forth in Section 8.1 shall be $500,000 (“Seller’s Cap Amount”).  If the Closing occurs, Purchaser hereby expressly waives, relinquishes and releases any right or remedy available to it at law, in equity or under this Agreement to make a claim against Seller for damages that Purchaser may incur, as the result of any of Seller’s representations or warranties being untrue, inaccurate or incorrect if Purchaser’s damages as a result of such representations or warranties being untrue, inaccurate or incorrect are reasonably estimated to aggregate less than $50,000 (“Floor Amount”); provided that in no event will Seller’s liability or the damages of any kind obtained by Purchaser as a result of such claim exceed the Seller’s Cap Amount.  Notwithstanding the foregoing, the amounts which may be owed by Seller to Purchaser or for which Seller is responsible with respect to Article IX (Condemnation and Casualty), Section 10.4 (Prorations), and Article XI (Brokerage) shall not be counted towards the calculation of or limited by the Seller’s Cap Amount nor shall they be obligated to meet or be limited by the Floor Amount. Notwithstanding any contrary provision of this Agreement, the Floor Amount or Seller’s Cap Amount shall not apply in the event of Seller’s fraud or intentional misrepresentation.
(c)    Notwithstanding any contrary provision of this Agreement, if as of the expiration  of the Due Diligence Period Purchaser has knowledge of the breach by Seller of any representation, warranty or covenant of Seller under this Agreement, then unless Purchaser elects to terminate this Agreement prior to the expiration of the Due Diligence Period, such breach shall be deemed waived by Purchaser and Seller shall have no liability to Purchaser with respect thereto.  In addition, notwithstanding any contrary provision of this Agreement, if as of the Closing Purchaser has knowledge of any breach by Seller of any representation, warranty or covenant of Seller under this Agreement and Purchaser elects to consummate the Closing, then as of the consummation of 

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the Closing such breach shall be deemed waived by Purchaser and Seller shall have no liability to Purchaser with respect thereto. 
(d)    The Closing Surviving Obligations will survive Closing without limitation unless a specified survival period is otherwise provided in this Agreement.  All other representations, warranties, covenants and agreements made or undertaken by Seller under this Agreement, unless otherwise specifically provided herein, will not survive the Closing but will be merged into the documents delivered at the Closing.  The Termination Surviving Obligations shall survive termination of this Agreement without limitation unless a specified survival period is otherwise provided in this Agreement.
ARTICLE XVII     
MISCELLANEOUS
Section 17.1    Waivers.  No waiver of any breach of any covenant or provisions contained herein will be deemed a waiver of any preceding or succeeding breach thereof or of any other covenant or provision contained herein.  No extension of time for performance of any obligation or act will be deemed an extension of the time for performance of any other obligation or act.
Section 17.2    Recovery of Certain Fees.  In the event a party hereto files any action or suit against another party hereto by reason of any breach of any of the covenants, agreements or provisions contained in this Agreement, then in that event the prevailing party shall be entitled to recover from the other party all attorneys’ fees and costs resulting therefrom, subject, however, in the case of Seller, to the limitations set forth in Section 16.1 above..  For purposes of this Agreement, the term “attorneys’ fees” or “attorneys’ fees and costs” shall mean all court costs and the fees and expenses of counsel to the parties hereto, which may include printing, duplicating and other expenses, air freight charges, and fees billed for law clerks, paralegals and other persons not admitted to the bar but performing services under the supervision of an attorney, and the costs and fees incurred in connection with the enforcement, perfection or collection of any judgment obtained in any such proceeding.  The provisions of this Section 17.2 shall survive the entry of any judgment, and shall not merge, or be deemed to have merged, into any judgment.
Section 17.3    Time of Essence.  Seller and Purchaser hereby acknowledge and agree that time is strictly of the essence with respect to each and every term, condition, obligation and provision hereof.
Section 17.4    Construction.  Headings at the beginning of each article and section are solely for the convenience of the parties and are not a part of this Agreement.  Whenever required by the context of this Agreement, the singular will include the plural and the masculine will include the feminine and vice versa.  This Agreement will not be construed as if it had been prepared by one of the parties, but rather as if both parties had prepared the same.  All exhibits and schedules referred to in this Agreement are attached and incorporated by this reference, and any capitalized term used in any exhibit or schedule which is not defined in such exhibit or schedule will have the meaning attributable to such term in the body of this Agreement.  In the event the date on which 

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Purchaser or Seller is required to take any action under the terms of this Agreement is not a Business Day, the action will be taken on the next succeeding Business Day.
Section 17.5    Counterparts.  To facilitate execution of this Agreement, this Agreement may be executed in multiple counterparts, each of which, when assembled to include an original signature or signature by facsimile or email (in “.pdf” format) for each party contemplated to sign this Agreement, will constitute a complete and fully executed agreement.  All such fully executed original or facsimile or “.pdf” counterparts will collectively constitute a single agreement.
Section 17.6    Severability.  If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any rule of law or public policy, all of the other conditions and provisions of this Agreement will nevertheless remain in full force and effect, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any adverse manner to either party.  Upon such determination that any term or other provision is invalid, illegal, or incapable of being enforced, the parties hereto will negotiate in good faith to modify this Agreement so as to reflect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible.
Section 17.7    Entire Agreement.  This Agreement is the final expression of, and contains the entire agreement between, the parties with respect to the subject matter hereof, and supersedes all prior understandings with respect thereto.  This Agreement may not be modified, changed, supplemented or terminated, nor may any obligations hereunder be waived, except by written instrument, signed by the party to be charged or by its agent duly authorized in writing, or as otherwise expressly permitted herein.  By executing this Agreement the representatives of each of the parties represent and warrant that they have read the entire Agreement, understand its terms and that those terms accurately reflect the contract between the parties.
Section 17.8    Governing Law.  THIS AGREEMENT SHALL BE CONSTRUED, PERFORMED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEVADA.
Section 17.9    No Recording.  The parties hereto agree that neither this Agreement nor any affidavit concerning it will be recorded.
Section 17.10    Further Actions.  The parties agree to execute such instructions to the Title Company and such other instruments and to do such further acts as may be reasonably necessary to carry out the provisions of this Agreement.
Section 17.11    No Other Inducements.  The making, execution and delivery of this Agreement by the parties hereto has been induced by no representations, statements, warranties or agreements other than those expressly set forth herein.
Section 17.12    Exhibits.  Exhibits A through H, inclusive, are incorporated herein by this reference.

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Section 17.13    No Partnership. Notwithstanding anything to the contrary contained herein, this Agreement shall not be deemed or construed to make the parties hereto partners or joint venturers, it being the intention of the parties to merely create the relationship of seller and purchaser with respect to the Property to be conveyed as contemplated hereby.
Section 17.14    Limitations on Benefits.  It is the explicit intention of Purchaser and Seller that no person or entity other than Purchaser and Seller and their permitted successors and assigns is or shall be entitled to bring any action to enforce any provision of this Agreement against any of the parties hereto, and the covenants, undertakings and agreements set forth in this Agreement shall be solely for the benefit of, and shall be enforceable only by, Purchaser and Seller or their respective successors and assigns as permitted hereunder.  Nothing contained in this Agreement shall under any circumstances whatsoever be deemed or construed, or be interpreted, as making any third party (including, without limitation, Brokers) a beneficiary of any term or provision of this Agreement or any instrument or document delivered pursuant hereto, and Purchaser and Seller expressly reject any such intent, construction or interpretation of this Agreement.
Section 17.15    Exculpation.  In no event whatsoever shall recourse be had or liability asserted against any of the shareholders, partners, managers and members of Seller, and the shareholders, partners and members of any constituent shareholders, partners and members of Seller, and the trustees, officers, directors, employees, agents and Affiliates of each of the foregoing for a claim against the Seller.  Such parties assume no personal liability for any obligations (direct or indirect) entered into on behalf of Seller under this Agreement and the Closing documents. 
Section 17.16    Post-Closing Restrictive Covenant.  At the Closing, the parties and certain affiliates of Seller shall enter in a separate agreement in the form attached hereto as Exhibit H (the “Restrictive Covenant Agreement”), which agreement will run with the land and restrict Purchaser and any of its successors and assigns for a period of five (5) years from the Closing Date as follows: (a) the Real Property (or any portion thereof) shall not be leased or subleased to any other party (other than to an Affiliate of the original Purchaser); (b) the Parking Parcel shall only be used as a surface parking lot for automobiles and for no other use, and (c) no habitable permanent improvements may be constructed on the Real Property.  The Restrictive Covenant Agreement shall be recorded against the Real Property in the Official Records at the Closing.  
[SIGNATURES ON NEXT PAGE]

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IN WITNESS WHEREOF, Seller and Purchaser have entered into this Agreement as of the Effective Date.
PURCHASER:

ALLEGIANT AIR, LLC, 
a Nevada limited liability company 

By:     /s/ Scott Sheldon            
Name:     Scott Sheldon                                            Title:      CFO and Senior Vice President                

SELLER:

CROSSING BUSINESS CENTER 1 AND 2 LLC, a Delaware limited liability company

By:     /s/ James C. Buie, Jr.            
Name: James C. Buie, Jr.                                        Its:  Authorized Signatory    
CROSSING BUSINESS CENTER 7 LLC, a Delaware limited liability company

By:     /s/ James C. Buie, Jr.            
Name: James C. Buie, Jr.                                               Its:  Authorized Signatory

S-1

JOINDER BY TITLE COMPANY
First American Title Insurance Company, referred to in this Agreement as the “Title Company,” hereby acknowledges that it received this Agreement and accepts the obligations of the Title Company as set forth herein. 
Chicago Title Agency of Nevada
By:    /s/ Jennifer Reinink            
Name:    Jennifer Reinink            
Title:    Vice President            

S-2

EXHIBIT A-1

LEGAL DESCRIPTION OF OFFICE PARCEL

20289493.10    A-1-1

EXHIBIT A-2

PARKING PARCEL SITE PLAN 

See attached.

20289493.10    A-2-1

EXHIBIT B
LIST OF SERVICE CONTRACTS
None.

20289493.10    B-1

EXHIBIT C
INTENTIONALLY OMITTED

20289493.10    C-1

EXHIBIT D
FORM OF HOLDBACK AGREEMENT
HOLDBACK ESCROW INSTRUCTIONS 

THESE HOLDBACK ESCROW INSTRUCTIONS (“these “Escrow Instructions”) are dated as of ____________, _______ by and between CROSSING BUSINESS CENTER 7 LLC, a Delaware limited liability company (“Seller”), and ________________________, a ______________ (“Buyer”), with respect to the following facts:
RECITALS
A.    Seller and Allegiant Air, LLC, a Nevada limited liability company, Buyer’s predecessor-in-interest, entered into that certain Agreement of Sale and Purchase dated as of April ___, 2013 (the “Purchase Contract”), pursuant to which Seller is selling to Buyer certain real property located in Las Vegas, Nevada and more particularly described in the Purchase Contract.
B.    The Purchase Contract requires that a portion of the Purchase Price under the Purchase Contract in the amount of $__________________ (the “Escrowed Funds”), which amount consists of 125% of the [guaranteed maximum price] under that certain construction contract between Buyer and __________ (the “Contractor”), dated as of April __, 2013 (the “Construction Contract”), be retained in escrow by Chicago Title Agency of Nevada (“Escrow Agent”) at the Closing for payments to be made pursuant to the terms of the Construction Contract and any remaining funds be returned to Seller as sale proceeds in accordance with the terms and conditions set forth herein.
C.    Seller and Buyer desire to enter into these Escrow Instructions to confirm the retention by Escrow Agent of the Escrowed Funds and to set forth the terms and conditions under which the Escrowed Funds will be held and disbursed by Escrow Agent.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows:
AGREEMENT
1.    Capitalized Terms.  Except as otherwise expressly defined herein, all capitalized terms used in these Escrow Instructions shall have the meanings given such terms in the Purchase Contract.
2.    Retention of Escrowed Funds.  Seller hereby instructs Escrow Agent to retain the Escrowed Funds from the sale proceeds due to Seller at the Closing under the Purchase Contract and to deposit the Escrowed Funds into an interest-bearing escrow account (the “Escrow Account”), which shall be administered in accordance with the terms and provisions of these Escrow 

20289493.10    D-1

Instructions.  All interest earned on the funds in the Escrow Account shall be added to and considered a part of the Escrowed Funds.
3.    Disbursement of Escrowed Funds.  After Closing, the Escrowed Funds shall be disbursed to the payee or payees designated by Seller to persons or parties who are entitled to payment in monthly progress payments equal to the costs for the construction of the Parking Improvements in accordance with the Purchase Contract set forth in each monthly payment application submitted by Seller simultaneously to Escrow Agent and Buyer pertaining to the on-going construction of the Parking Improvements by the Contractor under the Construction Contract.  Each monthly payment application shall be accompanied by conditional lien releases with respect to the amounts to be disbursed under the current monthly payment application (to the extent applicable) and unconditional lien releases with respect to amounts previously disbursed under prior monthly payment applications (to the extent applicable).  Each monthly disbursement from the Escrowed Funds shall be disbursed by Escrow Agent to the payee or payees designated by Seller within five (5) business days following Seller’s submittal of the monthly payment application and associated lien releases referenced above.  Buyer shall not contest the disbursement by Escrow Agent of each monthly disbursement as long as Seller has complied with the disbursement requirements set forth herein.  Upon (i) substantial completion of the Parking Improvements by the Contractor and (ii) delivery to Buyer of the certificate of occupancy or final building card sign off pertaining to the Parking Improvements, the entire undisbursed portion of the Escrowed Funds shall be disbursed to Seller as additional sale proceeds under the Purchase Contract.  Notwithstanding that the Parking Improvements may not have been substantially completed by the Contractor (and/or Buyer has not received a certificate of occupancy or final building card sign off for the Parking Improvements) by the Completion Deadline, Buyer shall have the right, at its sole discretion, to instruct that the remaining Escrowed Funds be disbursed to Seller upon confirmation to Buyer’s satisfaction that sufficient funds will continue to be held by Seller to ensure final lien-free completion of the Parking Improvements by the Contractor, or Seller provides Buyer with assurances satisfactory to Buyer that such final lien-free completion of the Parking Improvements by the Contractor shall occur.  Notwithstanding the foregoing, if (after the expiration of all applicable notice and cure periods set forth in the Purchase Contract) Seller does not cause the substantial completion by the Contractor of the Parking Improvements by the Completion Deadline (as the same may be automatically extended pursuant to the Purchase Contract), Buyer may elect to terminate Seller’s rights to coordinate the construction of the Parking Improvements with the Contractor under the Purchase Contract and may request the disbursement of the remaining balance of the Escrowed Funds to Buyer by providing written notice thereof to Escrow Agent and Seller (a “Termination Notice”).  Escrow Agent shall disburse the remaining balance of the Escrowed Funds to Buyer within five (5) business days following Escrow Agent’s receipt of a Termination Notice from Buyer.
4.    Termination.  Notwithstanding any contrary provision of this Agreement, this Agreement shall terminate at any time that the entire amount of the Escrowed Funds has been disbursed to Buyer or Seller pursuant to the terms of Section 3 above.

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5.    Costs.  All fees charged by Escrow Agent to administer the Escrow Account shall be paid equally by Seller and Buyer.
6.    Escrow Agent Provisions.
6.1    Escrow Agent may resign from its duties hereunder at any time by giving notice of such resignation to Seller and Buyer and specifying a date (not less than ninety (90) days after the giving of such notice) when such resignation shall take effect.  Promptly after such notice, another mutually acceptable escrow company as agreed to by Seller and Buyer shall be appointed as the successor escrow agent to become Escrow Agent hereunder upon the resignation date specified in such notice.  Escrow Agent shall continue to serve (notwithstanding the resignation date specified in its notice) until the successor escrow agent accepts the escrow and receives the remaining Escrowed Funds.
6.2    The duties of Escrow Agent are only such as are herein specifically provided, being purely ministerial in nature, and Escrow Agent shall incur no liability whatsoever for acting as escrow agent hereunder, except for willful misconduct or gross negligence.  Escrow Agent shall have no responsibility with respect to the Escrow Account other than to faithfully follow the instructions contained in these Escrow Instructions.  Escrow Agent may consult with counsel and shall be fully protected in any action taken in good faith, in accordance with the advice of counsel.
6.3    If any controversy exists between or among any of the parties hereto or with any third person with respect to the Escrow Account or the subject matter of these Escrow Instructions, Escrow Agent shall not be required to determine the same or take any action with respect thereto, but may await the final resolution of any such controversy.  Escrow Agent shall have no responsibility for the genuineness or validity of any document or other item deposited with it and shall be fully protected in acting in accordance with any written instructions given to it by the parties hereto and believed by Escrow Agent to have been signed by the proper officers or other representatives of the parties hereto.  Escrow Agent shall not be required to institute any legal action or to defend any legal proceedings which may be instituted against it in respect of the subject matter of these Escrow Instructions unless requested to do so in writing by one or more of the parties and indemnified by the requesting party(ies) to the satisfaction of Escrow Agent against the cost and expenses of such action or defense.  In the absence of written notice of the existence of any event or contention, Escrow Agent may conclusively presume that no such event or contention exists.
6.4    Seller and Buyer may, by mutual agreement at any time, remove Escrow Agent as escrow agent hereunder, and substitute a different escrow agent, in which event, upon receipt of written notice thereof and payment of any accrued but unpaid fees due hereunder, Escrow Agent shall account for and deliver to such substitute escrow agent the Escrowed Funds and all other amounts held by it hereunder and Escrow Agent shall thereupon be discharged from all liability under or in relation to these Escrow Instructions.

6.5    Seller, on the one hand, and Buyer, on the other hand, jointly and severally shall indemnify and hold harmless Escrow Agent from and against any liability or demand which 

20289493.10    D-3

Escrow Agent may incur in the exercise or performance of any of its powers and duties under these Escrow Instructions, unless arising from the gross negligence or willful misconduct of Escrow Agent.
6.6    In the event conflicting demands are made or conflicting notices are served upon Escrow Agent with respect to these Escrow Instructions, the parties expressly agree that Escrow Agent may withhold all further proceedings in, or performance of, this escrow pending joint instructions, or file suit in interpleader and obtain an order from the court requiring the parties to arbitrate or litigate their several claims and rights between themselves.  In the event such interpleader suit is brought, Seller, on the one hand, and Buyer, on the other hand, jointly and severally agree to pay all costs, expenses and reasonable attorneys’ fees incurred by Escrow Agent in connection therewith, the amount thereof to be fixed and judgment thereon to be rendered by the court in such suit.
7.    Miscellaneous Provisions.
7.1    Time of the Essence.  Time shall be of the essence in every particular of these Escrow Instructions.

7.2    Entire Agreement.  These Escrow Instructions and the documents referred to herein represent the entire agreement between the parties with respect to the disbursements of funds as provided herein and supersede all prior negotiations or agreements with respect thereto.

7.3    Headings.  The headings used in these Escrow Instructions are inserted solely for convenience of reference.

7.4    Binding Effect.  These Escrow Instructions shall be binding upon the parties hereto and their respective successors and assigns.

7.5    Notices.  Any and all notices required or permitted under these Escrow Instructions shall be given and received in accordance with the notice provisions of the Purchase Contract.

7.6    Waiver; Modification.  No right under these Escrow Instructions may be waived and no modification or amendment of these Escrow Instructions may be made, except by written agreement executed by the party or parties against which enforcement of such waiver, modification or amendment is sought.

7.7    Attorneys’ Fees.  In the event of a dispute or litigation between the parties with respect to the interpretation or enforcement of these Escrow Instructions, the prevailing party in such dispute shall be entitled to reimbursement from the non-prevailing party of its reasonable out-of-pocket attorneys’ fees and costs incurred in connection with such dispute or litigation, including costs and expenses incurred in connection with the enforcement, perfection or collection of any judgment.

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7.8    Counterparts.  These Escrow Instructions may be executed in one or more counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument.

SIGNATURES ON FOLLOWING PAGE

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IN WITNESS WHEREOF, the parties hereto have executed these Escrow Instructions as of the date first above written. 

SELLER:
CROSSING BUSINESS CENTER 7 LLC, 
a Delaware limited liability company

By:                     
Name: James C. Buie, Jr.     
Its:  Authorized Signatory

BUYER:    
_________________________, a _______________________________

By:                     
Name:                                 
Title:                              

ACCEPTANCE BY ESCROW AGENT

The undersigned, as Title Company under the above-referenced Purchase Contract and as Escrow Agent under the foregoing Escrow Instructions, hereby acknowledges receipt of these Escrow Instructions and agrees to be bound thereby.

ESCROW AGENT:            
CHICAGO TITLE AGENCY OF NEVADA

By:        
Name:        
Title:                            

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EXHIBIT E
GENERAL CONVEYANCE AND ASSIGNMENT AND ASSUMPTION
_________________________________, a ______________ (“Seller”), for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration to Seller paid by ____________________, a ____________________ (“Purchaser”), the receipt of which is hereby acknowledged, hereby bargains, sells, transfers, conveys and assigns to Purchaser the following described property:
(a)    All of Seller’s right, title and interest in the service agreements and maintenance contracts listed on Exhibit B attached hereto to the extent assignable without the necessity of consent or assignable only with consent and such consent has been obtained (the “Service Contracts”); and
(b)    All of Seller’s right, title and interest in and to all licenses, permits, certificates of occupancy, approvals, dedications, subdivision maps and entitlements issued, approved or granted in connection with the relating solely to the real property described on Exhibit A attached hereto (the “Real Property”) or the improvements located thereon (the “Improvements”) or the Parking Improvements (as defined in the Purchase  Agreement), to the extent assignable without the necessity of consent or assignable only with consent and such consent has been obtained (the “Licenses and Permits”).
The Service Contracts and Licenses and Permits are hereinafter collectively referred to as the “Assigned Property.”
Seller has executed this General Conveyance and Assignment and Assumption (this “General Conveyance”) and is transferring and assigning the Assigned Property to Purchaser AS IS, WITH ALL FAULTS, AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF WHATSOEVER NATURE, EXPRESS, IMPLIED, OR STATUTORY, EXCEPT AS EXPRESSLY SET FORTH IN THE AGREEMENT OF SALE AND PURCHASE BETWEEN SELLER AND PURCHASER DATED  _____________, 2013 (the “Purchase Agreement”).  Purchaser accepts the foregoing transfer and assignment, and assumes and agrees to be bound by and to perform and observe all of the obligations and covenants of Seller under the Service Contracts and Licenses and Permits to be performed or observed subsequent to the date hereof.  Purchaser further agrees to indemnify, defend and hold Seller harmless from and against any and all claims, liens, damages, demands, causes of action, liabilities, lawsuits, judgments, losses, costs and expenses (including but not limited to attorneys’ fees and expenses) asserted against or incurred by Seller by reason of or arising out of any failure by Purchaser to perform or observe the obligations, covenants, terms and conditions assumed by Purchaser hereunder.
To facilitate execution of this General Conveyance, this General Conveyance may be executed in multiple counterparts, each of which, when assembled to include an original signature for each party contemplated to sign this General Conveyance, will constitute a complete and fully executed original.  All such fully executed original counterparts will collectively constitute a single agreement.

20289493.10    E-1

EXECUTED as of the ______ day of _______________, 20__.
SELLER:
,
a     

By:    
Name:    
Title:    
PURCHASER:
,
a     
By:    
Name:    
Title:    

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Exhibit A to Exhibit E
Legal Description

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Exhibit B to Exhibit E
Service Contracts

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EXHIBIT F
FORM OF GRANT DEED
APNs:  [_________]

WHEN RECORDED MAIL TO AND 
MAIL PROPERTY TAX STATEMENTS TO:

[_____________]
[_____________]
[_____________]
Attn:  [_____________]

GRANT, BARGAIN AND SALE DEED
THIS INDENTURE WITNESSETH that [_____________], a [_____________], for valuable consideration, the receipt of which is hereby acknowledged, does hereby Grant, Bargain, Sell and Convey to [_____________], a [_____________], with an address of [______________________________], all that real property situated in the County of Clark, State of Nevada, bounded and described as follows:
See Exhibit A attached hereto and by this reference incorporated herein;
Together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in anywise appertaining; and
Subject to (i) taxes for the current fiscal year, not due or delinquent, and any and all taxes and assessments levied or assessed after the date hereof, which includes the lien of supplemental taxes, if any, (ii) restrictions, conditions, reservations, rights of way and easements affecting the use and occupancy of this property as the same may now appear of record, (iii) encumbrances of record, and (iv) that certain Declaration of Restrictive Covenant to be recorded simultaneously herewith, which is limited to five years from the date of recording of this instrument.

(Signature and notarial acknowledgement appear on the following page.)

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Witness my hand this _____ day of _______________ 2013.

[_____________], 
a [_____________],

By:_________________
Name:_______________
Title:________________

[notary acknowledgment to be inserted]

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EXHIBIT A
LEGAL DESCRIPTION

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EXHIBIT G
NON-FOREIGN ENTITY CERTIFICATION
Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person.  To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by __________________________________, a __________________________ (the “Transferor”), the undersigned hereby certifies the following on behalf of the Transferor:
1.    Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations);
2.    Transferor’s U.S. employer identification number is _______________; and
3.    Transferor’s office address is

________________________
________________________
________________________

Transferor understands that this certification may be disclosed to the Internal Revenue Service and that any false statement made within this certification could be punished by fine, imprisonment, or both.
Under penalties of perjury the undersigned declares that he has examined this certification and that to the best of his knowledge and belief it is true, correct and complete, and the undersigned further declares that he has the authority to sign this document on behalf of the Transferor.
TRANSFEROR:
_______________________________, 
a ________________________
By:________________________________
Name:__________________________
Title:__________________________

G-1
20289493.10 

EXHIBIT H
FORM OF RESTRICTIVE COVENANT AGREEMENT
APNs:  138-30-113-003, 138-30-111-006, 138-30-113-008, 138-30-113-007, 138-30-113-009, 138-30-113-017, 138-30-113-018, 138-30-510-002, 137-24-816-001, 138-19-812-005, 138-19-812-015, 138-30-318-001, 138-30-217-002, 137-36-811-006, 137-36-412-003, 137-36-412-008 and 137-36-412-012

RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
c/o Hines Interest Limited Partnership 
444 S. Flower Street, Suite 2120 
Los Angeles, CA 90071 
ATTENTION:  Mr. Doug Metzler
    
SPACE ABOVE THIS LINE FOR RECORDER’S USE
DECLARATION OF RESTRICTIVE COVENANT

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DECLARATION OF RESTRICTIVE COVENANT
THIS DECLARATION OF RESTRICTIVE COVENANT (this "Declaration") is made as of ___________, 2013, by and among CROSSING BUSINESS CENTER 1 AND 2 LLC, a Delaware limited liability company (“Office Seller”), CROSSING BUSINESS CENTER 7 LLC, a Delaware limited liability company (“Parking Seller”, and collectively with Office Seller, “Declarant”), [________________________, a _____________________] ("Buyer"), CROSSING BUSINESS CENTER 3 LLC, a Delaware limited liability company ("Crossing 3"), CROSSING BUSINESS CENTER 4 LLC, a Delaware limited liability company ("Crossing 4"), CROSSING BUSINESS CENTER 5 A LLC, a Delaware limited liability company ("Crossing 5 A"), CROSSING BUSINESS CENTER 5 B LLC, a Delaware limited liability company("Crossing 5 B"), CROSSING BUSINESS CENTER 6 LLC, a Delaware limited liability company ("Crossing 6"), HILLSHIRE BUILDING LLC, a Delaware limited liability company ("Hillshire"), EXPEDIA BUILDING LLC, a Delaware limited liability company ("Expedia"), THE PLAZAS 1 LLC, a Delaware limited liability company ("Plazas 1"), THE PLAZAS 2 LLC, a Delaware limited liability company ("Plazas 2"), THE CANYONS 1A LLC, a Delaware limited liability company ("Canyons 1A"), and THE CANYONS 1B LLC, a Delaware limited liability company ("Canyons 1B", and collectively with Parking Seller, Crossing 3, Crossing 4, Crossing 5 A, Crossing 5 B, Crossing 6, Hillshire, Expedia, Plazas 1, Plazas 2 and Canyons 1A, the "Benefitted Owners", and each a "Benefitted Owner"), and SUMMERLIN PROPERTIES LLC, a Delaware limited liability company (“Summerlin Properties”), with reference to the following facts:
RECITALS
A.    Declarant and Buyer are parties to that certain Agreement of Sale and Purchase dated as of [__________], 2013 (the “Purchase Agreement”), pursuant to which Buyer intends to acquire from Declarant, concurrently with the recording hereof, certain parcel(s) of real property situated in Clark County, Nevada, as more particularly described in Exhibit A-1 (the “Office Parcel”) and Exhibit A-2 (the “Parking Parcel”) as attached hereto and by this reference incorporated herein (the Office Parcel and the Parking Parcel are collectively referred to herein as the “Burdened Parcels”).
B.    Each Benefitted Owner is the owner of one or more parcels of real property situated in Clark County, Nevada, as more particularly described in Exhibit B (collectively, the “Benefitted Parcels”, and each a "Benefitted Parcel").
C.       Summerlin Properties is the sole owner and managing member of Declarant and each Benefitted Owner.  
D.     In connection with Buyer’s acquisition of the Burdened Parcels under the Purchase Agreement, Buyer has agreed to acquire the Burdened Parcels subject to the covenants, conditions, rights, restrictions and limitations described herein (collectively, the “Restrictions”).  Buyer acknowledges and agrees that (i) it is a material inducement to Declarant in selling the Burdened Parcels to Buyer that Buyer agree to be bound by the Restrictions, (ii) Declarant is relying upon these Restrictions in conveying the Burdened Parcels, and (iii) Declarant would be unwilling to convey, and Summerlin Properties would be unwilling to approve the conveyance of, the Burdened 

20289493.10    H-2

Parcels unless Buyer agreed to be bound by the Restrictions, including, but not limited to, the rights and benefits intended to run to Summerlin Properties and the Benefitted Owners.
E.      Declarant is making this Declaration for the benefit of Declarant, Summerlin Properties and the Benefitted Owners, and for their respective successors and assigns.
F.     The parties hereto desire that the Burdened Parcels be subject to the Restrictions.
NOW, THEREFORE, in consideration of the foregoing (including the sale of the Burdened Parcels by Declarant to Buyer), and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree that the foregoing recitals are true and correct and incorporated herein by this reference and as follows:

ARTICLE I 
GENERAL AND SPECIFIC USE RESTRICTIONS
1.1    Use Restrictions.  The covenants, restrictions and limitations contained in this Article I shall bind the Burdened Parcels for a period of five (5) years commencing on the date of recordation of this Declaration (the "Restriction Period").  The violation of any of the following shall, at the option of Declarant, Summerlin Properties or any Benefitted Owner, constitute a default hereunder and a breach of the Restrictions, which shall entitle Declarant, Summerlin Properties or any Benefitted Owner to exercise any of the rights and remedies set forth in this Declaration.
(a)    Restriction on Leasing or Subleasing of Office Parcel.  Buyer acknowledges and agrees that it has represented to Declarant that, during the Restriction Period, Buyer intends to occupy the Office Parcel for its own use or for use by Allegiant Air, LLC (“Allegiant”) or the Affiliates (as defined below) of Allegiant, and Declarant has agreed to sell the Office Parcel to Buyer in consideration of such representation.  Accordingly, unless expressly approved by Declarant in writing, which approval may be withheld by Declarant in its sole and absolute discretion, during the Restriction Period, neither Buyer, nor any of Buyer's successors or assigns shall have the right to (i) enter into any lease, sublease, license or any other occupancy agreement for the Office Parcel, or any portion thereof, with any party other than an Affiliate (as defined below) of Allegiant, or (ii) market or advertise for lease, sublease, license or any other use, all or any portion of the Office Parcel, or employ the services of any broker or brokerage firm in connection therewith.  For purposes of this Declaration, “Affiliate” means any person or entity that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with Allegiant, as the case may be.  For the purposes of this definition, “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person or entity, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” have the meanings correlative to the foregoing.
(b)    Restriction on Use of Parking Parcel.  Unless expressly approved by Declarant in writing, which approval may be withheld by Declarant in its sole and absolute discretion, 

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during the Restriction Period, in no event shall any portion of the Parking Parcel be used for any use or purpose other than as a surface parking lot for automobiles.
(c)    Restriction on Construction of Permanent Improvements. Unless expressly approved by Declarant, in writing, which approval may be withheld by Declarant in its sole and absolute discretion, during the Restriction Period, no habitable permanent improvement or improvements, as determined by Declarant in its sole and absolute discretion, may be constructed or developed upon either of the Burdened Parcels except that improvements necessary for the use of the Parking Parcel as a surface parking lot may be constructed on the Parking Parcel.
ARTICLE II 
ENFORCEMENT OF RESTRICTIONS
2.1    General Purpose and Constructive Notice.  The Restrictions shall run and pass with each and every portion of the Burdened Parcels and be binding upon Buyer and its successors and assigns during the Restriction Period.  Except as specifically set forth herein, the Restrictions shall remain in full force and effect, notwithstanding the exercise by Declarant, Summerlin Properties or any Benefitted Owner, of any right or remedy herein due to a previous or repeated violation of any one or more of the previous Restrictions.  Every person or entity who now or hereafter owns or acquires any right, title or interest in or to any portion of the Burdened Parcels is and shall be conclusively deemed to have consented, assumed and agreed to every Restriction, provision, covenant, condition, right and limitation contained herein, whether or not any reference to this Declaration is contained in the instrument by which such person acquired an interest in the Burdened Parcels.  Without in any manner limiting or affecting the enforceability of the foregoing or similar provisions set forth in this Declaration, prior to Buyer transferring any ownership interest in all or any portion of the Burdened Parcels, Buyer shall cause its transferee to execute and deliver a joinder to this Declaration in favor of Declarant, Summerlin Properties and each Benefitted Owner whereby such transferee agrees to be bound hereby, in the form of joinder attached hereto as Exhibit C; provided, however, that any transferee who acquires title through foreclosure, trustee’s sale or deed in lieu thereof shall have thirty (30) days from the date it acquired title to the Burdened Parcels, or such portion thereof, to execute and deliver such joinder.
2.2    Default and General Remedies.  In the event of any breach, violation or failure to perform or satisfy any of the Restrictions which has not been cured within the applicable cure period set forth below, Declarant, Summerlin Properties or any Benefited Owner, at its sole option and discretion, may enforce any one or more of the following remedies or any other rights or remedies to which Declarant, Summerlin Properties or the Benefitted Owner may be entitled by law or equity, whether or not set forth herein and Declarant, Summerlin Properties, the Benefitted Owners and Buyer expressly agree that Declarant and each Benefitted Owner is entitled to such rights and remedies.  Unless a cure period is otherwise specifically designated in this Declaration, such cure period shall commence when written notice is given to Buyer of a violation hereunder and shall end ten (10) business days thereafter in the case of a monetary default, and thirty (30) days thereafter in the case of a nonmonetary default.  To the maximum extent allowable by law, all remedies provided herein or by law or equity shall be cumulative and not exclusive, and the exercise of one right or remedy shall not be deemed or construed to be an election of remedies or be deemed or 

20289493.10    H-4

construed as a waiver or in such a manner as to preclude such party from exercising any and all other rights and remedies available to such party at law, in equity or under this Declaration, from time to time and in any order selected by such party in the sole and absolute discretion of each.  
(a)    Equity.  Declarant, Summerlin Properties or a Benefitted Owner shall be entitled to bring an action in equity or otherwise for specific performance to enforce compliance with the Restrictions or an injunction to enjoin the continuance of any such breach or violation thereof, whether or not Declarant, Summerlin Properties or such Benefitted Owner exercises any other remedy set forth herein.
(b)    Declaratory Relief.  Declarant or a Benefitted Owner may bring an action for declaratory relief to determine the enforceability of any of the Restrictions.
2.3    Inspection.  Not more than three (3) times in any 12-month period, upon twenty-four (24) hours advance notice, and subject to the reasonable security requirements of Buyer, Declarant, Summerlin Properties, a Benefitted Owner or their respective authorized representatives, may from time to time, at any reasonable hour, enter upon and inspect the Burdened Parcels or any portion thereof or improvements thereon to ascertain compliance with the Restrictions, but without obligation to do so or liability therefor.
2.4    Intended Beneficiaries.  It is intended that this Declaration and the Restrictions herein be for the benefit of and enforceable by each of Declarant, Summerlin Properties and each Benefitted Owner, and each of their respective successors and assigns.
ARTICLE III 
MISCELLANEOUS PROVISIONS
3.1    Waiver.  No waiver by Declarant, Summerlin Properties or a Benefitted Owner of a breach of any of the Restrictions by Buyer and no delay or failure to enforce any of the Restrictions shall be construed or held to be a waiver of any succeeding or preceding breach of the same or any other provision of the Restrictions.  No waiver of any breach or default of Buyer hereunder shall be implied from any omission by Declarant, Summerlin Properties or a Benefitted Owner to take any action on account of such breach or default if such breach or default persists or is repeated, and no express waiver shall affect a breach or default other than as specified in said waiver.  The consent or approval by Declarant, Summerlin Properties or any Benefitted Owner to or of any act by Buyer requiring such consent or approval shall not be deemed to waive or render unnecessary Declarant's, Summerlin Properties’ or the Benefitted Owner's consent or approval to or of any subsequent similar acts by Buyer.
3.2    Legal Costs.  In the event any action is instituted by a party to enforce this Declaration or any documents executed pursuant hereto, the prevailing party in such action (as determined by the court, arbitrator, agency or other authority before which such suit or proceeding is commenced) shall be entitled to such reasonable attorneys' fees, arbitrator's fees, costs and expenses as may be fixed by the decision maker.  The foregoing includes, but is not limited to, reasonable attorneys' fees, and costs of investigation incurred in (a) appellate proceedings; (b) any post-judgment proceedings to collect or enforce the judgment; (c) establishing the right to indemnification; and 

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(d) any action or participation in, or in connection with, any case or proceeding under Chapter 7, 11 or 13 of the Bankruptcy Code (11 United States Code Sections 101 et seq.), or any successor statutes.
3.3    Assignment by Declarant.  Any and all of the rights, benefits, powers, duties and reservations of Declarant herein contained may be assigned to any person or entity which will assume the duties (if any) of Declarant pertaining to the particular rights, benefits, powers and reservations assigned, and upon any such person or entity evidencing its consent in writing to accept such assignment and assume such duties, he or it shall, to the extent of such assignment, have the same rights and powers and be subject to the same obligations and duties as are given to and assumed by Declarant herein.  Any such assignment or assumption shall be recorded in the Office of the County Recorder, Clark County, Nevada.
3.4    Termination or Amendment.  This Declaration, including the Restrictions, may be validly terminated, amended, modified or extended, in whole or in part, only by recordation in the Office of the County Recorder, Clark County, Nevada, of a proper instrument duly executed and acknowledged by Declarant, Buyer, Summerlin Properties and each of the Benefitted Owners, or their respective successors and assigns, to that effect. Notwithstanding the foregoing, this Declaration, including the Restrictions, shall automatically terminate upon the expiration of the Restriction Period without any further documentation required by the parties hereto, and thereafter, the parties shall have no further liability hereunder except for those that expressly survive the termination of this Declaration.  At any time after the  expiration of the Restriction Period, Declarant, Summerlin Properties and each of the Benefitted Owners, or their respective successors and assigns, shall execute and deliver a counterpart original of a termination of this Declaration in the form reasonably requested by Buyer duly executed and acknowledged by such party within ten (10) days after such party’s receipt of a written request therefor from Buyer.  This Section 3.4 shall survive the termination of this Declaration.
3.5    Captions.  The captions used herein are for convenience only and are not a part of this Declaration and do not in any way limit or amplify the scope or intent of the terms and provisions hereof.
3.6    Invalidity of Provision.  If any provision of this Declaration as applied to Declarant, Summerlin Properties, any Benefitted Owner or Buyer or to any circumstance shall be adjudged by a court of competent jurisdiction to be void, invalid, illegal or unenforceable for any reason, the same shall in no way affect (to the maximum extent permissible by law) any other provision of this Declaration, the application of any such provision under circumstances different from those adjudicated by the court, or the validity or enforceability of this Declaration as a whole.
3.7    Notices.  All notices required or permitted by this Declaration shall be in writing and may be delivered in person or may be sent by (i) registered or certified mail, with postage prepaid, return receipt requested, (ii) express mail of the U.S. Postal Service, Federal Express or any other courier service guaranteeing overnight delivery and having a system for tracking deliveries, charges prepaid or (iii) facsimile (with a copy by mail), and shall be validly given only if sent to each representative of the other party as follows:

20289493.10    H-6

	
		
	If to Declarant:
	c/o Hines Interests Limited Partnership 
444 S. Flower Street, Suite 2100 
Los Angeles, CA 90071 
Attention:  Mr. Doug Metzler and Jim Bonham 
Telephone:   (213) 629-5200 
Facsimile:   (213) 629-1423

	with a copy to:
	Munger, Tolles & Olson LLP 
355 South Grand Avenue, 35th Floor 
Los Angeles, CA 90071 
Attention:   Misty M.  Sanford, Esq.  
Telephone:   (213) 683-9110 
Facsimile:   (213) 683-5110

	If to Buyer:
	Allegiant Air, LLC
8360 S. Durango Drive
Las Vegas, Nevada  89113 
Attn:  Keith Hansen
Email:  keith.hansen@allegiantair.com

	with a copy to:
	Richard L. Tobler, Esq. 
Richard L. Tobler, Ltd. 
3654 N. Rancho Drive
Suite 102
Las Vegas, Nevada 89130
Tel:  (702) 256-6000
Fax:  (702) 256-2248
e-mail: rltltd@hotmail.com

	If to a Benefitted Owner:
	c/o Hines Interests Limited Partnership 
444 S. Flower Street, Suite 2120 
Los Angeles, CA 90071 
Attention:  Mr. Doug Metzler 
Telephone:   (213) 629-5200 
Facsimile:   (213) 629-1423

	If to Summerlin Properties:
	c/o Hines Interests Limited Partnership 
444 S. Flower Street, Suite 2120 
Los Angeles, CA 90071 
Attention:  Mr. Doug Metzler 
Telephone:   (213) 629-5200 
Facsimile:   (213) 629-1423

Any party may, from time to time, by written notice to the other, designate a different address or representative than set forth above.  If any notice or other document is sent by registered or certified mail post paid, addressed as set forth above, the same shall be deemed served or delivered on the date of delivery of the same, as evidenced by the return receipt.  Notices delivered by overnight service shall be deemed to have been given on the date of delivery of the same.  Notices delivered by facsimile shall be deemed given as of the date of confirmation of receipt in legible form.  Any notice or other document sent or delivered in any other manner shall be effective only if and when received.  Copies of notices of a breach or default by Buyer hereunder shall, at Buyer's request, be delivered to Buyer's lender at the address provided to Declarant by Buyer.

20289493.10    H-7

3.8    Application to Declarant.  Notwithstanding anything herein contained to the contrary, if Declarant reacquires, Summerlin Properties or any Benefitted Owner acquires, title to the Burdened Parcels or any portion thereof at any time after the date hereof, the Restrictions shall automatically cease and terminate and be of no further force or effect and such acquired property (but shall remain in effect as to any portion of the Burdened Parcels not so reacquired or acquired), effective as of the date of such reacquisition by Declarant or acquisition by Summerlin Properties or any Benefitted Owner.  Upon request by any such acquiring party, Buyer and its successors and assigns shall promptly execute a termination of this Declaration as to such acquired or reacquired property, which termination Declarant shall be authorized to record in the Office of the Recorder, Clark County, Nevada.
3.9    Time of Essence.  Time is of the essence of each provision of this Declaration in which time is an element.
3.10    Other Restrictions.  This Declaration is not the exclusive source of restrictions on the use of the Burdened Parcels, and nothing herein contained shall prejudice or diminish in any way Declarant's, Summerlin Properties’ or any Benefitted Owner's rights under any other documents of record from time to time affecting all or any portion of the Burdened Parcels
3.11    Covenants Run with the Land.  The Burdened Parcels shall be held, developed, conveyed, hypothecated, encumbered, leased, rented, used and occupied, in each case, to the extent permitted herein, subject to the covenants, conditions, restrictions and other limitations set forth in this Declaration.  The Restrictions are for the benefit of Declarant, Summerlin Properties, each Benefitted Owner and the Benefitted Parcels and are intended and shall be construed as covenants and conditions running with and binding on the Burdened Parcels and equitable servitudes upon the Burdened Parcels and every part thereof.  Furthermore, all and each of the Restrictions shall be binding upon and burden all persons or entities having or acquiring any right, title or interest in the Burdened Parcels, or any part thereof, and their successors and assigns, and shall inure to the benefit of the Benefitted Parcels and the owners of the Benefitted Parcels, their successors and assigns, and shall be enforceable by Declarant, Summerlin Properties and each Benefitted Owner, and their respective successors and assigns, all upon the terms, provisions and conditions set forth herein.
3.12    Counterparts.  This Declaration may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute but one and the same instrument.
3.13    Exculpation.  No present or future trustee, director, officer, employee, beneficiary, shareholder, member, manager, partner, participant, representative or agent of Declarant, Buyer, Summerlin Properties or any Benefitted Owner shall have any personal liability, directly or indirectly, under or in connection with this Declaration, and each party and its successors and assigns agrees to look solely to the other party's assets for the payment of any claim or for any performance, and each party, on behalf of itself and its successors and assigns, hereby waives any and all such personal liability.
3.14    Recording.  Upon execution of this Declaration, Declarant and Buyer shall cause it to be recorded in the Office of the County Recorder, Clark County, Nevada.

20289493.10    H-8

3.15    Governing Law.  Any controversy, claim or dispute arising out of or related to this Declaration, the facts and circumstances leading to its execution or the interpretation, performance or breach hereof, including alleged violations of state or federal statutory or common law rights or duties, shall be governed by and construed in accordance with the laws of the State of Nevada, without regard to the conflicts of laws principles thereof.

20289493.10    H-9

IN WITNESS WHEREOF, the undersigned have each executed this Declaration as of the date first above written.
	
		
	DECLARANT:
CROSSING BUSINESS CENTER 1 AND 2 LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
CROSSING BUSINESS CENTER 7 LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   

	 

20289493.10    H-10

	
		
	BUYER: 
 
______________________, 
a _________________________________ 
 
By:    
Name:    
Title:   
SUMMERLIN PROPERTIES:
SUMMERLIN PROPERTIES LLC,
a Delaware limited liability company

By:                                                                
Name:                                                           
Title:                                                             
BENEFITTED OWNERS:
CROSSING BUSINESS CENTER 3 LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
CROSSING BUSINESS CENTER 4 LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
CROSSING BUSINESS CENTER 5 A LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
CROSSING BUSINESS CENTER 5 B LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
CROSSING BUSINESS CENTER 6 LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
HILLSHIRE BUILDING LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
EXPEDIA BUILDING LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
THE PLAZAS 1 LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
THE PLAZAS 2 LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
THE CANYONS 1A LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   
THE CANYONS 1B LLC, 
a Delaware limited liability company 
 
By:    
Name:    
Title:   

	 

20289493.10    H-11

[NOTARY ACKNOWLEDGMENTS TO BE ATTACHED]

20289493.10    H-12

EXHIBIT A-1 TO EXHIBIT H
LEGAL DESCRIPTION OF OFFICE PARCEL
[TO BE PROVIDED]

20289493.10    H-13

EXHIBIT A-2 TO EXHIBIT H
LEGAL DESCRIPTION OF PARKING PARCEL
[TO BE PROVIDED]

H-14
20289493.10 

EXHIBIT B TO EXHIBIT H
LEGAL DESCRIPTION OF BENEFITTED PARCELS
[TO BE PROVIDED]

H-15
20289493.10 

EXHIBIT C TO EXHIBIT H

FORM OF JOINDER AND CONSENT 
TO THE DECLARATION OF RESTRICTIVE COVENANT

The undersigned has duly executed this Joinder and Consent to the Declaration of Restrictive Covenant on this ___ day of _____________, ____ to evidence its joinder and consent to, and agreement to be bound by, the terms, covenants, conditions, and restrictions, of the Declaration of Restrictive Covenants recorded at Instrument Number _______________, in the Office of the County Recorder of Clark County, State of Nevada.  

____________________________________,
a ___________________________________

By:    _____________________________
Name:    _____________________________
Its:    _____________________________

STATE OF NEVADA

COUNTY OF CLARK

This instrument was acknowledged before me on _____________________, ____, by ________________________, as the _____________________________ of _____________________________________.

____________________________________
(Seal, if applicable)                    (Signature of Notarial Officer)

H-16
20289493.10Exhibit 10.1

OFFICE LEASE AGREEMENT 
BETWEEN 
Peachtree II and III, L.L.C., a Georgia limited liability company
AS LANDLORD 
AND 
MDA HOLDINGS, INC. 
AS TENANT 
DATED
 
July 18, 2013 
 

TABLE OF CONTENTS
1.    Definitions and Basic Provisions    1
2.    Lease Grant    1
3.    Tender of Possession    1
4.    Rent    2
5.    Delinquent Payment; Handling Charges    2
6.    Services; Utilities; Common Areas    3
(a)    Services    3
Janitorial Services    4
(c)    Common Areas    4
(d)    Parking    5
7.    Alterations; Repairs; Maintenance; Signs; Security System    5
(a)    Alterations    5
(b)    Repairs; Maintenance    7
(i)    By Landlord    7
(ii)    By Tenant    7
(iii)    Performance of Work    9
(c)    Mechanic’s Liens    9
(d)    Signs    10
(e)    Security System    10
8.    Use    11
9.    Assignment and Subletting    12
(a)    Transfers    12
(b)    Consent Standards    12
(c)    Request for Consent    12
(d)    Conditions to Consent    13
(e)    Attornment by Subtenants    13
(f)    Cancellation    14
(g)    Additional Compensation    15
10.    Insurance; Waivers; Subrogation; Indemnity    16
(a)    Tenant’s Insurance. .    17
(b)    Landlord’s Insurance      18
(c)    Waiver of Subrogation.     18
(d)    Indemnity.      18
11.    Subordination; Attornment; Notice to Landlord’s Mortgagee    19
(a)    Subordination    19
(b)    Attornment    19
(c)    Notice to Landlord’s Mortgagee    19
(d)    Landlord’s Mortgagee’s Protection Provisions    19
12.    Rules and Regulations    19
13.    Condemnation    19
(a)    Total Taking    20
(b)    Partial Taking - Tenant’s Rights    20
(c)    Partial Taking - Landlord’s Rights    20

. 
i

(d)    Award    20
14.    Fire or Other Casualty    20
(a)    Repair Estimate    20
(b)    Tenant’s Rights    20
(c)    Landlord’s Rights    21
(d)    Repair Obligation    21
(e)    Abatement of Rent    21
15.    Personal Property Taxes    21
16.    Events of Default    21
(a)    Payment Default    21
(b)    Abandonment    21
(c)    Estoppel/Financial Statement/Commencement Date Letter    22
(d)    Insurance    22
(e)    Mechanic’s Liens    22
(f)    Other Defaults    22
(g)    Insolvency    22
17.    Remedies    22
(a)    Termination of Lease    22
(b)    Termination of Possession    23
(c)    Perform Acts on Behalf of Tenant    23
(d)    Alteration of Locks    23
18.    Payment by Tenant; Non-Waiver; Cumulative Remedies    23
(a)    Payment by Tenant    23
(b)    No Waiver    24
(c)    Cumulative Remedies    24
(d)    No Designation    24
(e)    No Counterclaims    24
19.    Landlord’s Lien    25
20.    Surrender of Premises    25
21.    Holding Over    25
22.    Certain Rights Reserved by Landlord    26
(a)    Building Operations    26
(b)    Security    26
(c)    Repairs and Maintenance    26
(d)    Prospective Purchasers and Lenders    26
(e)    Prospective Tenants    26
23.    Substitution Space    27
24.    Hazardous Materials    27
25.    Miscellaneous    29
(a)    Landlord Transfer    29
(b)    Landlord’s Liability    29
(c)    Force Majeure    29
(d)    Brokerage    29
(e)    Estoppel Certificates    29
(f)    Notices    30

. 
ii

(g)    Separability    30
(h)    Amendments; Binding Effect    30
(i)    Quiet Enjoyment    30
(j)    No Merger    30
(k)    No Offer    30
(l)    Entire Agreement    30
(m)    Waiver of Jury Trial    31
(n)    Governing Law    31
(o)    Recording    31
(p)    Joint and Several Liability    31
(q)    Financial Reports    31
(r)    Landlord’s Fees    31
(s)    Telecommunications    31
(t)    Representations and Warranties.    32
(u)    Confidentiality    32
(v)    Authority    32
(w)    Usufruct    33
(x)    Adjacent Excavation    33
(y)    On-Site Refueling    33
(z)    List of Exhibits    33

. 
iii

BASIC LEASE INFORMATION
This Basic Lease Information is attached to and incorporated by reference to an Office Lease Agreement between Landlord and Tenant, as defined below.
	
					
	Lease Date:
	July 18, 2013

	Landlord:
	Peachtree II and III, L.L.C., a Georgia limited liability company

	Tenant:
	MDA Holdings, Inc., a Delaware corporation

	Premises:
	Suite No. 300 containing a total of 41,607 rentable square feet, in the building commonly known as 4775 Peachtree Industrial Blvd. (the “Building”), and whose street address is 4775 Peachtree Industrial Blvd., Peachtree Corners, Georgia.  The Premises are outlined on the plan attached to the Lease as Exhibit A.  The land on which the Building is located (the “Land”) is described on Exhibit B.  The term “Complex” shall collectively refer to the Building and any other buildings which comprise a multi-building complex owned by Landlord, if applicable.  The term “Project” shall collectively refer to the Building or Complex, as applicable, the Land and the driveways, parking facilities, and similar improvements and easements associated with the foregoing or the operation thereof, including without limitation the Common Areas (as defined in Section 7(c)).

	Term:
	Ten (10) years, eight (8) months commencing on the Commencement Date and ending at 12:00 p.m. local time on the last day of the 128th full calendar month following the Commencement Date (the “Fixed Expiration Date”), subject to adjustment and earlier termination as provided in the Lease (the Fixed Expiration Date, or such earlier date that this Lease terminates pursuant to the terms hereof or pursuant to law, is referred to as the “Expiration Date”). 

	Commencement Date:
	

The later of: (a) the date on which the Work (as defined in Exhibit D hereto) in the Premises is Substantially Completed (as defined in Exhibit D hereto); or (b) the date on which the Work in the Premises would have been Substantially Completed but for the occurrence of any Tenant Delay Days (as defined in Exhibit D hereto).

	Base Rent:
	Base Rent shall be the following amounts for the following periods of time:

	 
	Lease Month
	Annual Base Rent Rate Per Rentable Square Foot
	Monthly Base Rent

	 
	1-12
	$8.95
	  $31,031.88*

	 
	13-24
	$9.17
	  $31,794.68*

	 
	25-36
	$9.40
	$32,592.15

	 
	37-48
	$9.64
	$33,424.29

	 
	49-60
	$9.88
	$34,256.43

	 
	61-72
	$10.13
	$35,123.24

	 
	73-84
	$10.38
	$35,990.05

	 
	85-96
	$10.64
	$36,891.54

	 
	97-108
	$10.90
	$37,793.03

	 
	109-120
	$11.18
	$38,763.85

	 
	121-128
	$11.46
	$39,734.69

	
					
	 
	

*Subject to the terms of Exhibit K attached hereto.

As used herein, the term “Lease Month” shall mean each calendar month during the Term (and if the Commencement Date does not occur on the first (1st) day of a calendar month, the period from the Commencement Date to the first (1st) day of the next calendar month shall be included in the first (1st) Lease Month for purposes of determining the duration of the Term and the monthly Base Rent rate applicable for such partial month).

	Rent:
	Base Rent, Additional Rent, Taxes and Insurance (each as defined in Exhibit C hereto), and all other sums that Tenant may owe to Landlord or otherwise be required to pay under the Lease.

	Permitted Use:
	General office and any ancillary use, and for no other purpose whatsoever.

	Proportionate Share:
	77.14%, which is the percentage obtained by dividing (a) the number of rentable square feet in the Premises as stated above by (b) 53,938 rentable square feet for the Building.  25.49%, which is the percentage obtained by dividing (a) the number of rentable square feet in the Premises as stated above by (b) 163,231 rentable square feet for the Complex.  Landlord and Tenant stipulate that the number of rentable square feet in the Premises and in the buildings in the Complex set forth above is conclusive as to the square footage in existence on the date of this Lease and shall be binding upon them.

	Initial Liability
Insurance Amount:
	$2,000,000

	Broker/Agent:
	For Tenant:  Cushman & Wakefield of Georgia, Inc.

For Landlord:  CBRE 

	Tenant’s Address:
	Prior to Commencement Date:
145 Technology Parkway   
Norcross, GA 30092               
Attention:            
Telephone:770-246-9191   
Telecopy:770-246-0882
	Following Commencement Date:
4775 Peachtree Industrial Blvd
Suite 300
Norcross, GA  
Attention:            
Telephone:            
Telecopy:            

	Landlord’s Address:
	For all Notices:
Peachtree II and III, LLC
C/O Continental Property Group
1907 Wayzata Blvd, Suite 250
Wayzata, MN 55391
Attention: Traci Tomas
Telephone: 952-473-1700
Fax: 952-473-2700

With a copy to:
Robins, Kaplan, Miller & Ciresi, LLP
800 LaSalle Avenue
2800 LaSalle Plaza
Minneapolis, MN 55402
Attn: Steven A. Schumeister
Telephone: 612-349-8751
Fax: 612-339-4181

	 

	 
	 
	 

DAL:752850.2 

The foregoing Basic Lease Information is incorporated into and made a part of the Lease identified above.  If any conflict exists between any Basic Lease Information and the Lease, then the Lease shall control.
		
	LANDLORD: 
	Peachtree II and III, L.L.C., a Georgia limited liability company

By:    /s/ Traci Tomas
Name: Traci Tomas    
Title: Vice President    
 
 

		
	TENANT:  
	MDA HOLDINGS, INC., 
a Delaware corporation

		
	 
By:/s/ James E. Ginter
	 
Name: James E. Ginter     
Title: President    

DAL:752850.2 

OFFICE LEASE AGREEMENT
This Office Lease Agreement (this “Lease”) is entered into as of July 18, 2013, between Peachtree II and III LLC, a Georgia limited liability company (“Landlord”), and MDA HOLDINGS, INC., a Delaware corporation (“Tenant”).
1.Definitions and Basic Provisions.  The definitions and basic provisions set forth in the Basic Lease Information (the “Basic Lease Information”) executed by Landlord and Tenant contemporaneously herewith are incorporated herein by reference for all purposes.  Additionally, the following terms shall have the following meanings when used in this Lease: “Affiliate” means any person or entity which, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with the party in question; “Building’s Structure” means the Building’s exterior walls, roof, elevator shafts (if any), footings, foundations, structural portions of load-bearing walls, structural floors and subfloors, and structural columns and beams; “Building’s Systems” means the Premises’ and Building’s HVAC, life-safety, plumbing, electrical, and mechanical systems; “Business Day(s)” means Monday through Friday of each week, exclusive of Holidays; “Holidays” means New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Day, and any other nationally or regionally recognized holiday; “including” means including, without limitation; “Laws” means all federal, state, and local laws, ordinances, rules and regulations, all court orders, governmental directives, and governmental orders and all interpretations of the foregoing, and all recorded restrictive covenants affecting the Project, and “Law” shall mean any of the foregoing; “Normal Business Hours” means 7:00 a.m. to 6:00 p.m. on Business Days and 8:00 a.m. to 1:00 p.m. on Saturdays, exclusive of Holidays; “Tenant’s Off-Premises Equipment” means any of Tenant’s equipment or other property that may be located on or about the Project (other than inside the Premises); and “Tenant Party” means any of the following persons:  Tenant; any assignees claiming by, through, or under Tenant; any subtenants claiming by, through, or under Tenant; and any of their respective agents, contractors, employees, and invitees.
2.Lease Grant.  Subject to the terms of this Lease, Landlord leases to Tenant, and Tenant leases from Landlord, the Premises (as defined in the Basic Lease Information).
3.Tender of Possession.  Landlord and Tenant presently anticipate that the Commencement Date (as defined in the Basic Lease Information) will occur on March 1, 2014 (the “Estimated Delivery Date”).  The validity of this Lease shall not be affected or impaired if Landlord is unable to tender possession of the Premises to Tenant in the condition required hereby by the Estimated Delivery Date and Landlord shall not be in default hereunder or be liable for damages resulting therefrom, in each case, and Tenant shall accept possession of the Premises when Landlord tenders possession thereof to Tenant unless a delay is caused by Landlord for which result in a day for day abatement of rent until such time Tenant is able to commence the lease.    By occupying the Premises, Tenant shall be deemed to have accepted the Premises in their condition as of the date of such occupancy  Prior to so occupying the Premises, Tenant shall execute and deliver to Landlord a letter substantially in the form of Exhibit F hereto confirming: (1) the Commencement Date and the Fixed Expiration Date (as defined in the Basic Lease Information); (2) that Tenant has accepted the Premises; and (3) that Landlord has performed all of its obligations with respect to the Premises; however, the failure of the parties to execute such letter shall not defer the Commencement Date 

or otherwise invalidate this Lease.  Tenant’s failure to execute such document within ten (10) Business Days of receipt thereof from Landlord shall be deemed to constitute Tenant’s agreement to the contents of such document.  Occupancy of the Premises by Tenant prior to the Commencement Date shall be subject to all of the provisions of this Lease excepting only those requiring the payment of Rent.  
4.Rent.  Tenant shall timely pay to Landlord Rent (as defined in the Basic Lease Information), including the amounts set forth in Exhibit C hereto, without notice, demand, or  deduction, by good and sufficient check drawn on a national banking association at Landlord’s address provided for in this Lease or as otherwise specified by Landlord in writing and shall be accompanied by all applicable state and local sales or use taxes.  The obligations of Tenant to pay Base Rent (as defined in the Basic Lease Information) and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations.  Base Rent, adjusted as herein provided, shall be payable monthly in advance.  The first (1st) monthly installment of Base Rent shall be payable contemporaneously with the execution of this Lease; thereafter, Base Rent shall be payable on the first (1st) day of each month beginning on the first (1st) day of the second (2nd) full calendar month of the Term, subject to the Base Rent Abatement (as defined in Exhibit K).  The monthly Base Rent for any partial month at the beginning of the Term shall equal the product of 1/365 of the annual Base Rent in effect during the partial month and the number of days in the partial month, and shall be due on the Rent Commencement Date.  Payments of Base Rent for any fractional calendar month at the end of the Term shall be similarly prorated.  Tenant shall pay Additional Rent, Taxes and Insurance (each as defined in Exhibit C) at the same time and in the same manner as Base Rent.
5.Delinquent Payment.  All past due payments required of Tenant hereunder shall bear interest from the date due until paid at the lesser of ten percent (10%) per annum or the maximum lawful rate of interest (such lesser amount is referred to herein as the “Default Rate”).  Any such late charge and interest payment shall be payable as Additional Rent under this Lease, shall not be considered a waiver by Landlord of any default by Tenant hereunder, and shall be payable immediately on demand.  In no event, however, shall the charges permitted under this Section 5 or elsewhere in this Lease, to the extent they are considered to be interest under applicable Law, exceed the maximum lawful rate of interest. Notwithstanding the foregoing, the late fee referenced above shall not be charged with respect to the first occurrence (but not any subsequent occurrence) during any twelve-month period that Tenant fails to make payment when due, until five (5) days after Landlord delivers written notice of such delinquency to Tenant.

6.Services; Utilities; Common Areas.
(a)  Services.  Landlord and Tenant acknowledge and agree that the electrical service and all other utilities provided to the Premises are separately circuited and/or metered such that Tenant shall be billed by utility provider directly and will pay the utility provider for the costs associated with electricity and other utilities consumed.  Tenant hereby agrees to pay during the Term, the costs of all such utilities furnished to the Premises, including, without limitation, water, gas, if any, electricity, sewer and refuse disposal.  To the extent water, sewer and refuse 

disposal for the Premises and other tenant space within the Building are not separately billed to Tenant and the other tenants of the Building, Tenant shall pay its Proportionate Share of such costs for such services to Landlord as part of Operating Costs.  Tenant shall be solely responsible for the payment of all telephone and cable charges, including, without limitation, the cost of installation at the Premises of all telephone and cable equipment which may be installed at the request of Tenant.
(b)  Electricity.  Landlord acknowledges 3000 AMP 480 / 277 volt, 3 phase electrical power is supplied to the Complex (hereinafter referred to as the “Building standard rated electrical design load”).  Tenant shall be allocated Tenant’s pro rata share of the Building standard circuits provided on the floor(s) Tenant occupies.  Should Tenant’s fully connected electrical design load exceed the Building standard rated electrical design load for either low or high voltage electrical consumption, or if Tenant’s electrical design requires low voltage or high voltage circuits in excess of Tenant’s share of the Building standard circuits, Tenant shall be responsible for complying with any of Landlord’s requirements in connection therewith, including, without limitation, installing (at Tenant’s expense) one (1) additional high voltage panel and/or one (1) additional low voltage panel with associated transformer (which additional panels and transformers shall be hereinafter referred to as the “additional electrical equipment”).  If the additional electrical equipment is installed because Tenant’s low or high voltage rated electrical design load exceeds the applicable Building standard rated electrical design load, then a meter may also be added at Landlord’s option (at Tenant’s expense) to measure the electricity used through the additional electrical equipment.  The design and installation of any additional electrical equipment (or related meter) required by Tenant shall be subject to the prior approval of Landlord (which approval shall not be unreasonably withheld).  All expenses incurred by Landlord in connection with the review and approval of any additional electrical equipment shall also be reimbursed to Landlord by Tenant.  Tenant shall also pay on demand the actual metered cost of electricity consumed through the additional electrical equipment (if applicable), plus any actual accounting expenses incurred by Landlord in connection with the metering thereof.
Notwithstanding the foregoing, if: (i) such utility service is interrupted because of the acts of Landlord, its employees, agents or contractors; (ii) Tenant notifies Landlord of such interruption in writing (the “Interruption Notice”); (iii) such interruption does not arise in whole or in part as a result of an act or omission of a Tenant Party; (iv) such interruption is not caused by a fire or other casualty; (v) the repair or restoration of such service is reasonably within the control of Landlord; and (vi) as a result of such interruption, the Premises or a material portion thereof, is rendered untenantable (meaning that Tenant is unable to use the Premises in the normal course of it business) and Tenant in fact ceases to use the Premises, or material portion thereof, then, Tenant’s sole remedy for such interruption shall be as follows:  on the fifth (5th) consecutive business day following the later to occur of the date the Premises (or material portion thereof) becomes untenantable, the date Tenant ceases to use such space and the date Tenant provides Landlord with an Interruption Notice, the Rent payable hereunder shall be abated on a per diem basis for each day after such five (5) business day period based upon the percentage of the Premises so rendered untenantable and not used by Tenant, and such abatement shall continue until the date the Premises become tenantable again.

(c)  Janitorial Services.  Tenant shall furnish, at Tenant’s sole expense, regularly scheduled janitorial service to the Premises on weekdays, other than Holidays, in a manner that is consistent with first -class office buildings in the vicinity of the Building.  
(d)  Common Areas.  The term “Common Area” is defined for all purposes of this Lease as that part of the Building or Complex, as applicable, intended for the common use of all tenants, including among other facilities (as such may be applicable to the Building or Complex, as applicable), the ground floor lobby, elevator lobbies and hallways on multi-tenant floors, parking areas, private streets and alleys of the Building or Complex, as applicable, landscaping, curbs, loading areas, sidewalks, malls and promenades (enclosed or otherwise), lighting facilities, drinking fountains, meeting rooms, public toilets, the parking garage, and the like, but excluding: (i) space in buildings (now or hereafter existing) designated for rental for commercial purposes, as the same may exist from time to time; (ii) streets and alleys not maintained by Landlord; (iii) areas within the Building or Complex, as applicable, which may from time to time not be owned by Landlord (unless subject to a cross-access agreement recorded in the public records and benefiting the area which includes the Premises); and (iv) areas leased to a single-purpose user where access is restricted.  In addition, although the roof(s) of the Building or buildings in the Complex are not literally part of the Common Area, they will be deemed to be so included for purposes of: (i) Landlord’s ability to prescribe rules and regulations regarding same; and (ii) its inclusion for purposes of Operating Costs reimbursements.  Landlord reserves the right to change from time to time, the dimensions and location of the Common Area, as well as the dimensions, identities, locations and types of any buildings, signs or other improvements in the Project, so as long as Tenant’s Proportionate Share is not increased.  For example, and without limiting the generality of the immediately preceding sentence, Landlord may from time to time substitute for any parking area other areas reasonably accessible to the tenants of the Building or Complex, as applicable, which areas may be elevated, surface or underground.  Tenant, and its employees and customers, and when duly authorized pursuant to the provisions of this Lease, its subtenants, licensees and concessionaires, shall have the non-exclusive right to use the Common Area (excluding the roof(s)) as constituted from time to time, such use to be in common with Landlord, other tenants in the Building or Complex, as applicable, and other persons permitted by the Landlord to use the same, and subject to rights of governmental authorities, easements and other restrictions of record, and such reasonable rules and regulations governing use as Landlord may from time to time prescribe.  Without limiting the generality of Landlord’s ability to establish rules and regulations governing all aspects of the Common Area, Tenant agrees as follows:
(i)Tenant shall not solicit business within the Common Area nor take any action which would interfere with the rights of other persons to use the Common Area.
(ii)Landlord may temporarily close any part of the Common Area for such periods of time as may be reasonably necessary to make repairs or alterations or to prevent the public from obtaining prescriptive rights provided that such closure does not materially limit Tenant’s rights hereunder.
(iii)With regard to the roof(s) of the Building or building(s) in the Complex, as applicable, use of the roof(s) is reserved to Landlord, or with regard to any 

tenant demonstrating to Landlord’s satisfaction a need to use same, to such tenant after receiving prior written consent from Landlord.
(e)  Parking.  Tenant and its employees shall be entitled to use Tenant’s proportionate share of the parking spaces in the parking areas made available to the Building by Landlord, which proportionate share shall be determined using a ratio of 4 parking spaces per 1,000 rentable square feet contained in the Premises, free of charge during the Term and any renewals or extensions thereof.  Such spaces shall be used in common with other tenants, invitees and visitors of the Building.  Tenant shall have the right to park in the Building parking facilities in common with other tenants of the Building upon such terms and conditions as may be established by Landlord from time to time.  If Tenant uses more than the above allocated number of parking spaces, Tenant agrees not to overburden the parking facilities and agrees to cooperate with Landlord and other tenants in use of the parking facilities.  Without reducing the ratio of parking spaces per rental square feet, Landlord reserves the right in its reasonable discretion to determine whether the parking facilities are becoming overburdened and to allocate and assign parking spaces among Tenant and other tenants, and to reconfigure the parking area and modify the existing ingress to and egress from the parking area as Landlord shall reasonably deem appropriate.  Tenant covenants and agrees to fully cooperate with Landlord in the enforcement of any program of rules and regulations designed for the orderly control and operation of parking areas.   
7.Alterations; Repairs; Maintenance; Signs; Security System.
(a)    Alterations.  Tenant shall not make any alterations, additions or improvements to the Premises (collectively, the “Alterations”) without the prior written consent of Landlord (any such consent is referred to as an “Alterations Consent”), which consent Landlord shall not unreasonably withhold, condition or delay; provided, that Tenant may install unattached, movable trade fixtures, which may be installed without drilling, cutting or otherwise defacing the Premises, without Landlord’s consent.  Tenant shall furnish complete plans and specifications to Landlord for its approval at the time Tenant requests Landlord’s consent to any Alterations if the desired Alterations: (i) are reasonably likely to affect the Building’s Systems or Building’s Structure; (ii) will require the filing of plans and specifications with any governmental or quasi-governmental agency or authority; (iii) are estimated to cost in excess of Fifty Thousand Dollars ($50,000); or (iv) will require a building permit or similar governmental approval to undertake.  Subsequent to obtaining Landlord’s consent and prior to commencement of the Alterations, Tenant shall deliver to Landlord any building permit required by applicable Law and a copy of the executed construction contract(s).  Tenant shall reimburse Landlord within thirty (30) days after the rendition of a bill for all of Landlord’s reasonable and documented actual out-of-pocket costs incurred in connection with any Alterations, including all management, engineering, outside consulting, and construction fees incurred by or on behalf of Landlord for the review and approval of Tenant’s plans and specifications and for the monitoring of construction of the Alterations.  If Landlord consents to the making of any Alteration, such Alteration shall be made by Tenant at Tenant’s sole cost and expense by a contractor approved in writing by Landlord and Landlord shall not unreasonably withhold, condition or delay such approval.  Tenant shall require its contractor to maintain insurance in such amounts and in such form as Landlord may reasonably require.  Without Landlord’s prior written consent, which consent Landlord shall not unreasonably withhold, condition or delay, Tenant shall not use 

any portion of the Common Areas either within or without the Building or Complex, as applicable, in connection with the making of any Alterations.  If the Alterations which Tenant proposes to construct are reasonably likely to result in Landlord being required to make any alterations and/or improvements to other portions of the Building or Complex, as applicable, in order to comply with any applicable Laws (a “Parallel Alteration”), then Landlord shall give Tenant notice of such Parallel Alteration in Landlord’s corresponding Alterations Consent.  If (i) Landlord gives notice of a Parallel Alteration in its corresponding Alterations Consent, and (ii) Tenant performs the corresponding proposed Alteration thereby causing Landlord to perform the Parallel Alteration, then Tenant shall reimburse Landlord, within thirty (30) days after demand therefor, for all reasonable and documented costs and expenses incurred by Landlord in making such Parallel Alterations.  Any Alterations made by Tenant shall become the property of Landlord upon installation and shall remain on and be surrendered with the Premises upon the expiration or sooner termination of this Lease, provided that if Landlord notifies Tenant in its corresponding Alterations Consent that Tenant must remove such Alterations after the Expiration Date, then Tenant shall, at its sole cost and expense, forthwith and with all due diligence (but in any event not later than ten (10) Business Days after the Expiration Date) remove such Alterations made by Tenant and repair and restore the Premises in a good and workmanlike manner to the condition existing immediately before the construction of the subject Alterations, reasonable wear and tear excepted.  All construction work done by Tenant within the Premises shall be performed in a good and workmanlike manner with materials of first-class quality, lien-free and in compliance with all Laws, and in such manner as to cause a minimum of interference with other construction in progress and with the transaction of business in the Building or Complex, as applicable.  Tenant agrees to indemnify, defend and hold Landlord harmless against any personal injury (including death) and, subject to the waiver of subrogation, against any loss, liability or damage to property resulting from such work.  The foregoing indemnity shall survive the expiration or earlier termination of this Lease.  Landlord’s consent to or approval of any alterations, additions or improvements (or the plans therefor) shall not constitute a representation or warranty by Landlord, nor Landlord’s acceptance, that the same comply with sound architectural and/or engineering practices or with all applicable Laws, and Tenant shall be solely responsible for ensuring all such compliance.  All voice, data, video, audio and other low voltage control transport system cabling and/or cable bundles installed in the Building by Tenant or its contractor shall be (A) plenum rated and/or have a composition makeup suited for its environmental use in accordance with NFPA 70/National Electrical Code; (B) installed in accordance with all EIA/TIA standards and the National Electric Code; and (C) installed and routed in accordance with a routing plan showing “as built” or “as installed” configurations of cable pathways, outlet identification numbers, locations of all wall, ceiling and floor penetrations, riser cable routing and conduit routing (if applicable), and such other information as Landlord may reasonably request.  
(b)    Repairs; Maintenance.
(i)        By Landlord.  Landlord shall, at no expense to Tenant, keep and maintain in good repair and working order and make repairs to and perform maintenance upon:  (1) structural elements of the Building, including, but not limited, the Building’s Structure, and of any other buildings in the Complex, as applicable, including the foundation; (2) the roof of the Building and of any other buildings in the Complex, as applicable; (3) exterior windows of the Building and 

of any other buildings in the Complex, as applicable; and (4) exterior walls (excluding plate glass and doors). Landlord shall, subject to reimbursement as set forth in Exhibit C, keep and maintain in good repair and working order and make repairs to and perform maintenance upon:  (1) standard mechanical (excluding HVAC, except as required pursuant to the terms of Section 7(b)(ii) below), electrical, plumbing and fire/life safety systems serving the Building and of any other buildings in the Complex, as applicable; (2) Common Areas (including, without limitation, landscaping and cleaning); and (3) elevators serving the Building.  Landlord shall not be liable for any failure to make any such repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.  If any of the foregoing maintenance or repair is necessitated due to the acts or omissions of any Tenant Party, Tenant shall pay the reasonable and documented costs of such repairs or maintenance to Landlord within thirty (30) days after receipt of an invoice.  Landlord shall not be liable to Tenant for any interruption of Tenant’s business or inconvenience caused due to any work performed in the Premises or in the Complex pursuant to Landlord’s rights and obligations under the Lease, provided, however, Landlord shall use commercially reasonable efforts to not disturb the normal conduct of Tenant’s business while performing such repairs and maintenance.  
(ii)    By Tenant.  (A) Tenant shall, at its sole cost and expense, promptly perform all maintenance and repairs to the Premises that are not Landlord’s express responsibility under this Lease, and shall keep the Premises in good condition and repair, ordinary wear and tear excepted.  Tenant’s repair obligations include, without limitation, repairs to:  (1) floor covering and/or raised flooring; (2) interior partitions; (3) interior doors; (4) the interior side of demising walls; (5) electronic, phone and data cabling and related equipment (collectively, “Cable”) that is installed by or for the exclusive benefit of Tenant and located in the Premises or other portions of the Building or Project; (6) supplemental air conditioning units that exclusively serve the Premises, private showers and kitchens, including water heaters, plumbing, dishwashers, ice machines and similar facilities serving Tenant exclusively; (7) phone rooms used exclusively by Tenant; (8) all utilities within the Premises; (9) Tenant’s wiring; (10) interior glass; (11) all bulb and ballast replacement and repairs; (12) Alterations performed by contractors retained by or on behalf of Tenant; and (13) all of Tenant’s furnishings, trade fixtures, equipment and inventory.  Landlord reserves the right to perform any of the foregoing maintenance or repair obligations or require that such obligations be performed by a contractor reasonably approved by Landlord, all at Tenant’s expense.  All work shall be performed in accordance with the rules and procedures described in Section 7(a).  If Tenant fails to make any repairs to the Premises for more than fifteen (15) Business Days after written notice from Landlord (although notice shall not be required if there is an emergency, or if the area to be repaired is visible from the exterior of the Building), Landlord may, in addition to any other remedy available to Landlord, make the repairs, and Tenant shall pay the reasonable and documented cost of the repairs to Landlord within thirty (30) days after receipt of an invoice.  At the Expiration Date, Tenant shall surrender the Premises in good condition, excepting reasonable wear and tear and losses required to be restored by Landlord.  All personal property of Tenant, including goods, wares, merchandise, inventory, trade fixtures and other personal property of Tenant, shall be stored at the sole risk of Tenant.  Landlord or its agents shall not be liable for any loss or damage to persons or personal or other property resulting from fire, explosion, falling plaster, steam, gas, electricity, water or rain which may leak from any part of the Complex or from the pipes, appliances or plumbing works therein or from the roof, street or subsurface or from any other places resulting from dampness 

or any other cause whatsoever, unless caused by the gross negligence or willful misconduct of Landlord, its employees, agents or contractors, or from the act or negligence of any other tenant or any officer, agent, employee, contractor or guest of any such tenant.  
(B) In addition to the foregoing, Tenant at its sole cost and expense shall maintain in a good state of repair to include replacement, all portions of the heating, ventilating, and air conditioning equipment located in the Premises and exclusively serving the Premises (“HVAC”).  Landlord shall deliver the HVAC to Tenant in good working order, shall transfer any warranties, if any, on the HVAC to Tenant if they are transferable and/or Tenant shall have benefit of such warranties.  In furtherance of the foregoing, Tenant shall, at its expense, provide preventive and routine maintenance and repair (except that covered under warranty) to the HVAC, including, without limitation, periodic filter change and routine service and adjustments at least four (4) times annually, by entering into a preventive maintenance agreement with a service firm authorized by Landlord to provide said maintenance and repair during the Term, which maintenance agreement (i) shall satisfy the requirements for routine and periodic maintenance, if any, necessary to keep all applicable manufacturer’s warranties in full force and effect; (ii) shall require such service firm to dispose of and/or recycle materials in the HVAC system in accordance with all applicable Laws; and (iii) shall provide that in the event this Lease expires or is earlier terminated for any reason whatsoever that said agreement shall be immediately terminable by Landlord or Tenant without any cost, expense of other liability on the part of Landlord.  A copy of said agreement or contract shall be supplied to Landlord within thirty (30) days after the Commencement Date and the HVAC shall be subject to audit or inspection at all times to determine Tenant’s compliance with this Section 8(b)(ii)(B).  Tenant shall be responsible for all parts, service and maintenance of the HVAC systems as set forth above; provided, however, that if (i) any HVAC unit serving the Premises requires repairs or replacement during the Term, and (ii) Tenant has properly maintained such HVAC unit or HVAC systems during the Term pursuant to an HVAC maintenance contract as required by this Section 8(b)(ii)(B), then Landlord shall be responsible for all repair and replacement costs in excess of the lesser of (x) $1,000.00 per unit in any calendar year, or (y) $5,000 per calendar year for all units.

(iii)    Performance of Work.  All work described in this Section 7 shall be performed only by contractors and subcontractors approved in writing by Landlord, which approval Landlord shall not unreasonably withhold, condition or delay.  Tenant shall cause all contractors and subcontractors to procure and maintain insurance coverage against such risks, in such amounts, and with such companies as Landlord may reasonably require, but in no event less than: (i) Commercial General Liability insurance on an occurrence basis in amounts not less than $1,000,000 naming Landlord as an additional insured; and (ii) workers’ compensation insurance in amounts required by statute.  Tenant shall provide Landlord with insurance certificates for such contractors and subcontractors prior to commencement of any work.  Tenant shall provide Landlord with the identities, mailing addresses and telephone numbers of all contractors or subcontractors performing work or supplying materials prior to beginning such construction and Landlord may post on and about the Premises notices of non-responsibility pursuant to applicable Laws.  All such work shall be performed in accordance with all Laws and in a good and workmanlike manner so as not to damage the Building (including the Premises, the Building’s Structure and the Building’s Systems).  All such work which may affect the Building’s Structure or the Building’s Systems, at Landlord’s election, must be performed by Landlord’s usual contractor for such work or a contractor 

approved by Landlord, which approval Landlord shall not unreasonably withhold, condition or delay.  All work affecting the roof of the Building must be performed by Landlord’s roofing contractor or a contractor approved by Landlord, which approval Landlord shall not unreasonably withhold, condition or delay and no such work will be permitted if it would void or reduce the warranty on the roof.
(c)    Mechanic’s Liens.  All work performed, materials furnished, or obligations incurred by or at the request of a Tenant Party shall be deemed authorized and ordered by Tenant only, and Tenant shall not permit any mechanic’s liens to be filed against the Premises or the Project in connection therewith.  Upon completion of any such work, Tenant shall deliver to Landlord final lien waivers from all contractors, subcontractors and materialmen who performed such work.  If such a lien is filed, then Tenant shall, within ten (10) days after Landlord has delivered notice of the filing thereof to Tenant (or such earlier time period as may be necessary to prevent the forfeiture of the Premises, Project or any interest of Landlord therein or the imposition of a civil or criminal fine with respect thereto), either: (1) pay the amount of the lien and cause the lien to be released of record; or (2) diligently contest such lien and deliver to Landlord a bond or other security reasonably satisfactory to Landlord.  If Tenant fails to timely take either such action, then Landlord may pay the lien claim, and any documented amounts so paid, including expenses and interest, shall be paid by Tenant to Landlord within ten (10) days after Landlord has invoiced Tenant therefor.  Landlord and Tenant acknowledge and agree that their relationship is and shall be solely that of “landlord-tenant” (thereby excluding a relationship of “owner-contractor,” “owner-agent” or other similar relationships).  Accordingly, all materialmen, contractors, artisans, mechanics, laborers and any other persons now or hereafter contracting with Tenant, any contractor or subcontractor of Tenant or any other Tenant Party for the furnishing of any labor, services, materials, supplies or equipment with respect to any portion of the Premises, at any time from the date hereof until the end of the Term, are hereby charged with notice that they look exclusively to Tenant to obtain payment for same.  Nothing herein shall be deemed a consent by Landlord to any liens being placed upon the Premises, Project or Landlord’s interest therein due to any work performed by or for Tenant or deemed to give any contractor or subcontractor or materialman any right or interest in any funds held by Landlord to reimburse Tenant for any portion of the cost of such work.  Tenant shall indemnify, defend and hold harmless Landlord, its property manager, any subsidiary or Affiliate of the foregoing, and their respective officers, directors, shareholders, partners, employees, managers, contractors, attorneys and agents (collectively, the “Indemnitees”) from and against all claims, demands, causes of action, suits, judgments, damages and expenses (including reasonable attorneys’ fees) in any way arising from or relating to the failure by any Tenant Party to pay for any work performed, materials furnished, or obligations incurred by or at the request of a Tenant Party.  The foregoing indemnity shall survive termination or expiration of this Lease.
(d)    Signs.  Tenant shall not place or permit to be placed any signs upon: (i) the roof of the Building; or (ii) the Common Areas; or (iii) any area visible from the exterior of the Premises without Landlord’s prior written approval, which approval shall be granted or withheld by Landlord in its sole discretion.  No later than five (5) Business Days following a written request from Landlord, Tenant shall remove any sign, advertising material or lettering which Tenant has placed or permitted to be placed upon the exterior or interior surface of any door or window or at any point inside the Premises without Landlord’s approval, and which in Landlord’s reasonable 

opinion is of such a nature as to not be in keeping with the standards of the Building, and if Tenant fails to do so, Landlord may without liability remove the same at Tenant’s expense.  Tenant shall comply with such regulations as may from time to time be reasonably promulgated by Landlord governing signs, advertising material or lettering of all tenants in the Project or Complex, as applicable.  Tenant, upon vacation of the Premises, or the removal or alteration of its sign for any reason, shall be responsible for the repair, painting or replacement of the Building fascia surface or other portion of the Building where signs are attached, as reasonably practicable to restore such surface to the condition existing immediately before the installation of such sign.  
(e)    Security System.  Upon obtaining the prior written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed, Tenant may install its own card reader security system in the Premises, limiting access to the Premises (the “Security System”).  Upon the Expiration Date, Tenant shall, at Tenant’s expense, remove the Security System and repair any damage to the Premises caused thereby.  Tenant’s rights to install the Security System are subject to the following terms and conditions: (i) Tenant shall be solely responsible for all costs associated with the installation, use and maintenance of the Security System; (ii) the Security System shall be installed entirely within the Premises with the exception of such portions that must be installed on the exterior of, or next to, the doors and/or windows of the Premises; shall be compatible with Landlord’s existing security system in the Building; and shall not adversely affect the electrical or any other system of the Building; (iii) Tenant shall provide Landlord with the means of accessing the Premises via the Security System, as permitted by the terms of this Lease; (iv) Tenant shall reimburse Landlord within five (5) Business Days after Landlord’s request for any fee assessed to Landlord as a result of emergency response to the Premises resulting from any unauthorized access to or attempted access of the Premises (unless such unauthorized access or attempted access was by Landlord or an employee, agent or contractor of Landlord); and (v) upon the expiration or earlier termination of the Lease, Tenant shall repair any damage caused to the Premises or to any portion of the Building resulting from the installation and/or removal of the Security System.  The terms of this subsection (e) shall survive the expiration or earlier termination of this Lease.
8.Use.  Tenant shall continuously occupy and use the Premises only for the Permitted Use (as set forth in the Basic Lease Information) and shall comply with all applicable Laws relating to the use, condition, access to, and occupancy of the Premises and will not commit waste, overload the Building’s Structure or the Building’s Systems or subject the Premises to any use that would damage the Premises.  Tenant, at its sole cost and expense, shall obtain and keep in effect during the term, all permits, licenses, and other authorizations necessary to permit Tenant to use and occupy the Premises for the Permitted Use in accordance with applicable Law.  The population density within the Premises as a whole shall at no time exceed the limitations of the certificate of occupancy, or as imposed by the local fire department or applicable Law.  Notwithstanding anything in this Lease to the contrary, as between Landlord and Tenant: (a) Tenant shall bear the risk of complying with Title III of the Americans With Disabilities Act of 1990, any state laws governing handicapped access or architectural barriers, and all rules, regulations, and guidelines promulgated under such laws, as amended from time to time (the “Disabilities Acts”) if and to the extent such compliance arises as a result of any Alterations Tenant performs in the Premises, as the result of Tenant’s specific (as opposed to general office) use of the Premises, as the result of the special needs of any employee 

of Tenant that is beyond that generally required by the Disabilities Act, or as the result of an Event of Default by Tenant hereunder; (b) Landlord shall bear the risk of complying with the Disabilities Acts in the Premises for any other reasons not articulated in (a) above and in the Common Areas (subject to reimbursement as set forth in Exhibit C), other than compliance that is necessitated by Tenant’s use of the Premises for other than the Permitted Use or as a result of any Alterations made by Tenant (which risk and responsibility shall be borne by Tenant).  Tenant shall not use any substantial portion of the Premises for a “call center”, any other telemarketing use, or any credit processing use.  In addition, the Premises shall not be used for any purpose which creates strong, unusual, or offensive odors, fumes, dust or vapors; which emits noise or sounds that are objectionable due to intermittence, beat, frequency, shrillness, or loudness; which is associated with indecent or pornographic matters; or which involves political campaigning or issues.  Tenant shall conduct its business and control each other Tenant Party so as not to create any nuisance or unreasonably interfere with other tenants or Landlord in its management of the Building.  Tenant shall not knowingly conduct or permit to be conducted in the Premises any activity, or place any equipment in or about the Premises or the Building, which will invalidate the insurance coverage in effect or increase the rate of fire insurance or other insurance on the Premises or the Building.  If any invalidation of coverage or increase in the rate of fire insurance or other insurance occurs or is threatened by any insurance company due to activity conducted from the Premises that is not commensurate with general office use, or any act or omission by Tenant, or its agents, employees, representatives, or contractors, such statement or threat shall be conclusive evidence that the increase in such rate is due to such act of Tenant or the contents or equipment in or about the Premises, and, as a result thereof, Tenant shall cease conducting such activity and shall be liable for such increase and such increase shall be considered Additional Rent payable with the next monthly installment of Base Rent due under this Lease, and Landlord’s acceptance of such amount shall not waive any of Landlord’s other rights.  In no event shall Tenant introduce or permit to be kept on the Premises or brought into the Building any dangerous, noxious, radioactive or explosive substance.
9.Assignment and Subletting.
(a)    Transfers.  Except as expressly permitted in Section 9(h), Tenant shall not, without the prior written consent of Landlord, which consent will not be unreasonably withheld, conditioned, or delayed assign, transfer, or encumber this Lease or any estate or interest herein; (2) sublet any portion of the Premises; (3) grant any license, concession, or other right of occupancy of any portion of the Premises; or (4) permit the use of the Premises by any parties other than Tenant (any of the events listed in Section 9(a)(1) through Section 9(a)(5) being a “Transfer”).
(b)    Consent Standards.  Landlord shall not unreasonably condition, withhold or delay its consent to any assignment or subletting of the Premises, provided that no Event of Default exists and the proposed transferee: (1) with respect to a proposed transferee that is not otherwise subject to Section 9(g), is creditworthy; (2) has a good reputation in the business community; (3) will use the Premises for the Permitted Use (thus, excluding without limitation, uses for credit processing and telemarketing); and (4) will not use the Premises, Project or Complex in a manner that would materially increase the pedestrian or vehicular traffic to the Premises, Project or Complex.

(c)    Request for Consent.  If Tenant requests Landlord’s consent to a Transfer, then, at least thirty (30) days prior to the effective date of the proposed Transfer, Tenant shall provide Landlord with a written description of all terms and conditions of the proposed Transfer, copies of the proposed pertinent documentation, and the following information about the proposed transferee: name and address; reasonably satisfactory information about its business and business history; its proposed use of the Premises; financial statements; and general references sufficient to enable Landlord to determine the proposed transferee’s creditworthiness and character.  Concurrently with Tenant’s notice of any request for consent to a Transfer, Tenant shall pay to Landlord a fee of $500 to defray Landlord’s expenses in reviewing such request, and Tenant shall also reimburse Landlord immediately upon request for its reasonable and documented attorneys’ fees incurred in connection with considering any request for consent to a Transfer.  Landlord’s failure to respond within such thirty (30) day period and following a second notice (which notice shall have a heading in at least 12-point type, bold and all caps “FAILURE TO RESPOND SHALL RESULT IN A DEEMED CONSENT BY LANDLORD TO A REQUEST FOR ASSIGNMENT”) and Landlord’s failure to respond within five (5) business days after receipt of such second notice, shall be deemed Landlord’s consent to Tenant’s request for assignment.
(d)        Conditions to Consent.  If Landlord consents to a proposed Transfer, then the proposed transferee shall deliver to Landlord a written agreement whereby it expressly assumes Tenant’s obligations hereunder; however, any transferee of less than all of the space in the Premises shall be liable only for obligations under this Lease that are properly allocable to the space subject to the Transfer from and after the effective date of such Transfer.  No Transfer shall release Tenant from its obligations under this Lease, but rather Tenant and its transferee shall be jointly and severally liable therefor.  Landlord’s consent to any Transfer shall not be deemed consent to any subsequent Transfers.  If an Event of Default occurs while the Premises or any part thereof are subject to a Transfer, then Landlord, in addition to its other remedies, may collect directly from such transferee all rents becoming due to Tenant and apply such rents against Rent.  Tenant authorizes its transferees to make payments of rent directly to Landlord upon receipt of notice from Landlord to do so following the occurrence of an Event of Default hereunder.  Tenant shall pay for the cost of any demising walls or other improvements necessitated by a proposed subletting or assignment (provided that the foregoing shall not waive any approval right that Landlord may have with respect to such improvements pursuant to another provision of this Lease).
(e)        Attornment by Subtenants.  Each sublease by Tenant hereunder shall be subject and subordinate to this Lease and to the matters to which this Lease is or shall be subordinate, and each subtenant by entering into a sublease is deemed to have agreed that in the event of termination, re-entry or dispossession by Landlord under this Lease, Landlord may, at its option, either terminate the sublease or take over all of the right, title and interest of Tenant, as sublandlord, under such sublease, and such subtenant shall, at Landlord’s option, attorn to Landlord pursuant to the then executory provisions of such sublease, except that Landlord shall not be: (1) liable for any previous act or omission of Tenant under such sublease; (2) subject to any counterclaim, offset or defense that such subtenant might have against Tenant; (3) bound by any material modification of such sublease made without Landlord’s consent or by any rent or additional rent or advance rent which such subtenant might have paid for more than the current month to Tenant, and all such rent shall remain due and owing, notwithstanding such advance payment; (4) bound 

by any security or advance rental deposit made by such subtenant which is not delivered or paid over to Landlord and with respect to which such subtenant shall look solely to Tenant for refund or reimbursement; or (5) obligated to perform any work in the subleased space or to prepare it for occupancy, and in connection with such attornment, the subtenant shall execute and deliver to Landlord any instruments Landlord may reasonably request to evidence and confirm such attornment.  
(f)    Confirming Attornment.  Each subtenant or licensee of Tenant shall be deemed, automatically upon and as a condition of its occupying or using the Premises or any part thereof, to have agreed to be bound by the terms and conditions set forth in this Section 9(e).  The provisions of this Section 9(e) shall be self-operative, and no further instrument shall be required to give effect to this provision.
(g)    Permitted Transfers.  Notwithstanding Section 9(a), Tenant may Transfer all or part of its interest in this Lease or all or part of the Premises (a “Permitted Transfer”) to the following types of entities (a “Permitted Transferee”) without the written consent of Landlord:
(1)    an Affiliate of Tenant;
(2)    any corporation, limited partnership, limited liability partnership, limited liability company or other business entity in which or with which Tenant, or its corporate successors or assigns, is merged or consolidated, in accordance with applicable statutory provisions governing merger and consolidation of business entities, so long as (A) Tenant’s obligations hereunder are assumed by the entity surviving such merger or created by such consolidation; and (B) the Permitted Transferee has $10 million in equity after deduction of all intercompany goodwill and intangible accounts (both assets and liabilities); or
(3)    any corporation, limited partnership, limited liability partnership, limited liability company or other business entity acquiring all or substantially all of Tenant’s assets if such entity’s Tangible Net Worth after such acquisition is not less than the Tangible Net Worth of Tenant as of the date of execution of this Lease.
Tenant shall promptly notify Landlord of any such Permitted Transfer.  Tenant shall remain liable for the performance of all of the obligations of Tenant hereunder, or if Tenant no longer exists because of a merger, consolidation, or acquisition, the surviving or acquiring entity shall expressly assume in writing the obligations of Tenant hereunder.  Additionally, the Permitted Transferee shall comply with all of the terms and conditions of this Lease, including the Permitted Use, and the use of the Premises by the Permitted Transferee may not violate any other agreements affecting the Premises, the Building or the Complex, Landlord or other tenants of the Complex.  No later than five (5) business days after the effective date of any Permitted Transfer, Tenant agrees to furnish Landlord with (A) copies of the instrument effecting any of the foregoing Transfers, (B) documentation establishing Tenant’s satisfaction of the requirements set forth above applicable to any such Transfer, and (C) evidence of insurance as required under this Lease with respect to the Permitted Transferee.  The occurrence of a Permitted Transfer shall not waive Landlord’s rights as to any subsequent Transfers. “Tangible Net Worth” means the excess of total assets over total liabilities, in each case as determined in accordance with generally accepted accounting principles 

consistently applied (“GAAP”), excluding, however, from the determination of total assets all assets which would be classified as intangible assets under GAAP including goodwill, licenses, patents, trademarks, trade names, copyrights, and franchises.  Any subsequent Transfer by a Permitted Transferee shall be subject to the terms of this Section 10.

10.Insurance; Waivers; Subrogation; Indemnity.
(a)    Tenant’s Insurance.  Effective as of the earlier of: (1) the date Tenant enters or occupies the Premises; or (2) the Commencement Date, and continuing throughout the Term, Tenant shall maintain the following insurance policies: 
(i)    Commercial General Liability Insurance in amounts of no less than $1,000,000 per occurrence for bodily injury and property damage, and $3,000,000 general aggregate for property damage liability.  Such policy shall be endorsed to add Landlord and Management Company (as requested by Landlord) as an additional insured.  Limits can be satisfied through the maintenance of a combination of primary and umbrella policies.  .    
(ii)    Commercial Property Insurance covering at full replacement cost value the following property in the Premises:  (A) inventory; (B) FF&E (unattached furniture, fixtures, and equipment); (C) alterations, improvements and betterments made by the Tenant including but not necessarily limited to all permanently attached fixtures and equipment; and (D) any other property in which the Tenant retains the risk of loss including electronic data processing equipment,  employee personal property or other property owned or leased by Tenant.   Such property insurance shall include: (1) coverage against such perils as are commonly included in the special causes of loss form, with no exclusions for wind and hail, vandalism and malicious mischief, and endorsed to add the perils of earthquake and flood; (2) business income or extra expense coverage providing for the full recovery of loss of rents and continuing expenses on an actual loss sustained basis for a period of not less than 12 months; and (3) an “agreed amount” endorsement waiving any coinsurance requirements.   “Full replacement value,” as used herein, means the cost of repairing, replacing, or reinstating, including demolishing, any item of property, with materials of like kind and quality in compliance with, (and without, an exclusion pertaining to application of), any law or building ordinance regulating repair or construction at the time of loss and without deduction for physical, accounting, or any other depreciation, in an amount sufficient to meet the requirements of any applicable co-insurance clause and to prevent Tenant from being a co-insurer. 
(iii)    Workers Compensation Insurance covering statutory benefits in the state where the Premises is located.  This policy shall include “other states” insurance, so as to include all states not named on the declarations page of the insurance policy, except for the monopolistic states. Tenant is required to carry this insurance regardless of eligibility for waiver or exemption of coverage under any applicable state statute.  Such insurance shall include an employers’ liability coverage part with limits that shall be not less than $1,000,000 each accident for bodily injury by accident and $1,000,000 each employee and policy limit for bodily injury by disease.
(iv)    Such other insurance or any changes or endorsements to the insurance required herein, including increased limits of coverage, as Landlord, or any mortgagee or lessor of Landlord, may reasonably require from time to time upon reasonable advance notice to Tenant.

Tenant’s commercial general liability insurance, automobile liability insurance and, all other insurance policies, where such policies permit coverage for Landlord as an additional insured, shall provide primary coverage to Landlord and shall not require contribution by any insurance maintained by Landlord, when any policy issued to Landlord provides duplicate or similar coverage, and in such circumstance Landlord’s policy will be excess over Tenant’s policy. Tenant shall furnish to Landlord certificates of such insurance, and where applicable with an additional insured endorsement at least ten (10) days prior to the earlier of the Commencement Date or the date Tenant enters or occupies the Premises, and at least fifteen (15) days prior to each renewal of said insurance, and Tenant shall notify Landlord at least thirty (30) days before cancellation or non-renewal or a material change of any such insurance policies.  All such insurance policies shall be in form, and issued by companies licensed to do business in the state where the Premises is located, rated by AM Best as having a financial strength rating of “A-” or better and a financial size category of “IX” or greater, or otherwise reasonably satisfactory to Landlord.  If Tenant fails to comply with the foregoing insurance requirements or to deliver to Landlord the certificates or evidence of coverage required herein, Landlord, in addition to any other remedy available pursuant to this Lease or otherwise, may, but shall not be obligated to, obtain such insurance and Tenant shall pay to Landlord on demand the premium costs thereof.  Any and all of the premiums, deductibles and self-insured retentions associated with the policies providing the insurance coverage required herein shall be assumed by, for the account of, and at the sole risk of Tenant.   
(b)    Landlord’s Insurance.  Throughout the Term, Landlord shall maintain, as a minimum, the following insurance policies: (1) property insurance for the Building’s replacement value (excluding property required to be insured by Tenant, it being agreed that Landlord shall have no obligation to provide insurance for such property), less a commercially-reasonable deductible if Landlord so chooses; and (2) commercial general liability insurance in an amount of not less than $3,000,000 per occurrence for bodily injury and property damage, $3,000,000 each person or organization for personal and advertising injury, $3,000,000 general aggregate, and $3,000,000 products and completed operations aggregate.  Limits can be satisfied through the maintenance of a combination of primary and umbrella policies.  Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary.  Tenant shall pay its Proportionate Share of the cost of all insurance carried by Landlord with respect to the Building or Complex, as applicable, as set forth on Exhibit C.  The foregoing insurance policies and any other insurance carried by Landlord shall be for the sole benefit of Landlord and under Landlord’s sole control, and Tenant shall have no right or claim to any proceeds thereof or any other rights thereunder.
(c)    Waiver of Subrogation.  Notwithstanding anything to the contrary herein, to the extent permitted by law and without affecting the coverage provided by insurance required to be maintained hereunder, Landlord and Tenant shall each agree to waive any right to recover against the other party (and the other party’s agents, officers, directors and employees) on account of any and all claims it may have against the other party (and the other party’s agents, officers, directors and employees) with respect to the insurance actually maintained, or required to be maintained hereunder, under subparagraphs 10(a)(i) through (vi), inclusive, and to the extent proceeds are realized  from such insurance coverage that are applied to such claims.  

Each policy described in this Lease shall contain a waiver of subrogation endorsement that provides that the waiver of any right to recovery shall not invalidate the policy in any way
(d)    Indemnity.  Subject to Section 10(c), Tenant shall indemnify, defend and hold harmless Landlord and the Indemnitees from and against all claims, demands, liabilities, causes of action, suits, judgments, damages, and expenses (including reasonable attorneys’ fees) and all losses and damages arising from any injury to or death of any person or the damage to or theft, destruction, loss, or loss of use of any property or inconvenience (a “Loss”) arising from any occurrence in the Premises, the use of the Common Areas by any Tenant Party, or the installation, operation, maintenance, repair or removal of any of Tenant’s Off-Premises Equipment; or (2) Tenant’s failure to perform its obligations under this Lease.  The indemnities set forth in this Section 10(d) shall survive termination or expiration of this Lease and shall not terminate or be waived, diminished or affected in any manner by any abatement or apportionment of Rent under any provision of this Lease.  
11.Subordination; Attornment; Notice to Landlord’s Mortgagee.
(a)    Subordination.  This Lease shall be subordinate to any deed to secure debt, mortgage, or other security instrument (each, as renewed, modified, and/or extended from time to time, a “Mortgage”), or any ground lease, master lease, or primary lease (each, as renewed, modified, and/or extended from time to time, a “Primary Lease”), that now or hereafter covers all or any part of the Premises (the mortgagee under any such Mortgage, grantee under any such deed to secure debt, or the lessor under any such Primary Lease is referred to herein as a “Landlord’s Mortgagee”).  Any Landlord’s Mortgagee may elect at any time, unilaterally, to make this Lease superior to its Mortgage, Primary Lease, or other interest in the Premises by so notifying Tenant in writing.  The provisions of this Section shall be self-operative and no further instrument of subordination shall be required; however, in confirmation of such subordination, Tenant shall execute and return to Landlord (or such other party designated by Landlord) within ten (10) days after written request therefor such documentation, in recordable form if required, as a Landlord’s Mortgagee may reasonably request to evidence the subordination of this Lease to such Landlord’s Mortgagee’s Mortgage or Primary Lease (including a subordination, non-disturbance and attornment agreement) or, if the Landlord’s Mortgagee so elects, the subordination of such Landlord’s Mortgagee’s Mortgage or Primary Lease to this Lease.  Notwithstanding the foregoing, the subordination of this Lease to future Mortgages shall be subject to Tenant’s receipt of a non-disturbance agreement reasonably acceptable to Tenant which provides in substance that so long as Tenant is not in an Event of Default under the Lease past applicable cure periods, its use and occupancy of the Premises shall not be disturbed notwithstanding any default of Landlord under such Mortgage.
(b)    Attornment.  Tenant shall attorn to any party succeeding to Landlord’s interest in the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party’s request, and shall execute such agreements confirming such attornment as such party may reasonably request.
(c)    Notice to Landlord’s Mortgagee. Tenant shall not seek to enforce any remedy it may have for any default on the part of Landlord without first giving written 

notice by certified mail, return receipt requested, specifying the default in reasonable detail, to any Landlord’s Mortgagee whose address has been given to Tenant, and affording such Landlord’s Mortgagee a reasonable opportunity to perform Landlord’s obligations hereunder, which shall not exceed the cure periods provided to Landlord under the Lease.
(d)    Landlord’s Mortgagee’s Protection Provisions. If Landlord’s Mortgagee shall succeed to the interest of Landlord under this Lease, then, subject to the terms of any subordination, non-disturbance and attornment agreement, Landlord’s Mortgagee shall not be: (1) liable for any act or omission of any prior lessor (including Landlord); (2) bound by any rent or additional rent or advance rent which Tenant might have paid for more than one (1) month in advance to any prior lessor (including Landlord), and all such rent shall remain due and owing, notwithstanding such advance payment; (3) bound by any security or advance rental deposit made by Tenant which is not delivered or paid over to Landlord’s Mortgagee and with respect to which Tenant shall look solely to Landlord for refund or reimbursement; (4) bound by any termination, amendment or modification of this Lease made without Landlord’s Mortgagee’s consent and written approval, except for those terminations, amendments and modifications permitted to be made by Landlord without Landlord’s Mortgagee’s consent pursuant to the terms of the loan documents between Landlord and Landlord’s Mortgagee; (5) subject to the defenses which Tenant might have against any prior lessor (including Landlord); and (6) subject to the offsets which Tenant might have against any prior lessor (including Landlord) except for those offset rights which (A) are expressly provided in this Lease, (B) relate to periods of time following the acquisition of the Building by Landlord’s Mortgagee, and (C) Tenant has provided written notice to Landlord’s Mortgagee and provided Landlord’s Mortgagee a reasonable opportunity to cure the event giving rise to such offset event.  Landlord’s Mortgagee shall have no liability or responsibility under or pursuant to the terms of this Lease or otherwise after it ceases to own an interest in the Building.  Nothing in this Lease shall be construed to require Landlord’s Mortgagee to see to the application of the proceeds of any loan, and Tenant’s agreements set forth herein shall not be impaired on account of any modification of the documents evidencing and securing any loan.
12.    Rules and Regulations.  Tenant shall comply with the rules and regulations of the Building which are attached hereto as Exhibit E.  Upon reasonable advance written notice to Tenant, Landlord may, from time to time, change such rules and regulations for the safety, care, or cleanliness of the Building and related facilities, provided that such changes are uniformly applied to all tenants of the Building, will not unreasonably interfere with Tenant’s use of the Premises and are enforced by Landlord in a non-discriminatory manner.  Tenant shall be responsible for the compliance with such rules and regulations by each Tenant Party.
13.Condemnation.
(a)    Total Taking.  If the entire Building or Premises are taken by right of eminent domain or conveyed in lieu thereof (a “Taking”), this Lease shall terminate as of the date of the Taking.
(b)    Partial Taking - Tenant’s Rights.  If any part of the Building becomes subject to a Taking and such Taking will prevent Tenant from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Taking 

for a period of more than one hundred eighty (180) days, then Tenant may terminate this Lease as of the date of such Taking by giving written notice to Landlord within thirty (30) days after the Taking, and Rent shall be apportioned as of the date of such Taking.  If Tenant does not terminate this Lease, then Rent shall be abated on a reasonable basis as to that portion of the Premises rendered untenantable by the Taking for the duration of the Taking.  Anything in this Lease to the contrary notwithstanding, Tenant shall have the right to terminate this Lease after giving Landlord thirty (30) days’ prior written notice if a Taking occurs during the last twelve (12) months of the Term.
(c)    Partial Taking - Landlord’s Rights.  If any material portion, but less than all, of the Building becomes subject to a Taking, or if Landlord is required to pay any of the proceeds arising from a Taking to a Landlord’s Mortgagee, then Landlord may terminate this Lease by delivering written notice thereof to Tenant within thirty (30) days after such Taking, and Rent shall be apportioned as of the date of such Taking.  If Landlord does not so terminate this Lease, then this Lease will continue, provided; however, that if any portion of the Premises is subject to the Taking, then the provisions of Section 13(b) shall apply.
(d)    Award.  If any Taking occurs, then Landlord shall receive the entire award or other compensation for the Land, the Building, and other improvements taken; however, Tenant may separately pursue a claim (to the extent it will not reduce Landlord’s award) against the condemnor for the value of Tenant’s personal property which Tenant is entitled to remove under this Lease, moving costs, loss of business, and other claims it may have.
14.Fire or Other Casualty.
(a)    Repair Estimate.  If the Project is damaged by fire or other casualty (a “Casualty”), Landlord shall use good faith efforts to deliver to Tenant within sixty (60) days after such Casualty a good faith estimate (the “Damage Notice”) of the time needed to repair the damage caused by such Casualty.
(b)    Tenant’s Rights.  If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within one hundred eighty (180) days after the commencement of repairs (the “Repair Period”), then Tenant may terminate this Lease by delivering written notice to Landlord of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.  Anything in this Lease to the contrary notwithstanding, Tenant shall have the right to terminate this Lease after giving Landlord thirty (30) day’s prior written notice if any Casualty occurs during the last twelve (12) months of the Term.
(c)    Landlord’s Rights.  If a Casualty damages the Premises or a material portion of the Building and: (1) Landlord estimates that the damage to the Premises cannot be repaired within the Repair Period; and (2) the damage to the Premises exceeds fifty percent (50%) of the replacement cost thereof (excluding foundations and footings), as reasonably estimated by Landlord, and such damage occurs during the last two (2) years of the Term; (3) regardless of the extent of damage to the Premises, Landlord makes good faith determination that restoring the Building would be uneconomical; or (4) Landlord is required to pay all insurance proceeds arising 

out of the Casualty to a Landlord’s Mortgagee, then Landlord may terminate this Lease by giving written notice of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.
(d)    Repair Obligation.  If neither party elects to terminate this Lease following a Casualty, then Landlord shall, within a reasonable time after such Casualty, begin to repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition as they existed immediately before such Casualty; however, other than building standard leasehold improvements Landlord shall not be required to repair or replace any Alterations or betterments within the Premises that are required to be insured by Tenant (which shall be promptly and with due diligence repaired and restored by Tenant at Tenant’s sole cost and expense) or any furniture, equipment, trade fixtures or personal property of Tenant or others in the Premises or the Building, and Landlord’s obligation to repair or restore the Premises shall be limited to the extent of the insurance proceeds actually received by Landlord for the Casualty in question.  If Landlord fails to complete repairs to the Premises within one hundred eighty (180) days of the date of the casualty, subject to force majeure delays, then Tenant shall have the right to terminate the Lease upon written notice delivered to Landlord at any time after such one hundred eighty (180) day period and prior to Landlord’s Substantial Completion of such repairs.  If this Lease is terminated under the provisions of this Section 15, Landlord shall be entitled to the full proceeds of the insurance policies providing coverage for all Alterations, improvements and betterments in the Premises (and, if Tenant has failed to maintain insurance on such items as required by this Lease, Tenant shall pay Landlord an amount equal to the proceeds Landlord would have received had Tenant maintained insurance on such items as required by this Lease).
(e)    Abatement of Rent.  If the Premises are damaged by Casualty, Rent for the portion of the Premises rendered untenantable by the damage shall be abated on a reasonable basis from the date of damage until the completion of Landlord’s repairs (or until the date of termination of this Lease by Landlord or Tenant as provided in this Section 14, as the case may be).
15.Personal Property Taxes.  Tenant shall be liable for all taxes levied or assessed against personal property, furniture, or fixtures placed by Tenant in the Premises or in or on the Project.  If any taxes for which Tenant is liable are levied or assessed against Landlord or Landlord’s property and Landlord elects to pay the same, or if the assessed value of Landlord’s property is increased by inclusion of such personal property, furniture or fixtures and Landlord elects to pay the taxes based on such increase, then Tenant shall pay to Landlord, within thirty (30) days following written request therefor, the part of such taxes for which Tenant is primarily liable hereunder.
16.Events of Default.  Each of the following occurrences shall be an “Event of Default”:
(a)    Payment Default.  Tenant’s failure to pay Rent within five (5) Business Days after the same is due;
(b)    Intentionally Omitted;

(c)    Estoppel.      Tenant fails to provide: (i) any estoppel certificate after Landlord’s written request therefor pursuant to Section 25(e); or (ii) any financial statement after Landlord’s written request therefor pursuant to Section 25(q), and such failure shall continue for five (5) Business Days after Landlord’s second (2nd) written notice thereof to Tenant;
(d)    Insurance.  Tenant fails to procure, maintain and deliver to Landlord evidence of the insurance policies and coverages as required under Section 9(a);
(e)    Mechanic’s Liens.  Tenant fails to pay and release of record, or diligently contest and bond around, any mechanic’s lien filed against the Premises or the Project for any work performed, materials furnished, or obligation incurred by or at the request of Tenant, within the time and in the manner required by Section 7(c);
(f)    Other Defaults.  Tenant’s failure to perform, comply with, or observe any other agreement or obligation of Tenant under this Lease and the continuance of such failure for a period of thirty (30) calendar days or more after Landlord has delivered to Tenant written notice thereof; and
(g)    Insolvency.  The filing of a petition by or against Tenant: (1) in any bankruptcy or other insolvency proceeding; (2) seeking any relief under any state or federal debtor relief law; (3) for the appointment of a liquidator or receiver for all or substantially all of Tenant’s property or for Tenant’s interest in this Lease; or (4) for the reorganization or modification of Tenant’s capital structure; however, if such a petition is filed against Tenant, then such filing shall not be an Event of Default unless Tenant fails to have the proceedings initiated by such petition dismissed within sixty (60) calendar days after the filing thereof.
17.Remedies.   Upon any Event of Default, Landlord may, in addition to all other rights and remedies afforded Landlord hereunder or by law or equity, take any one or more of the following actions:
(a)    Termination of Lease.  Terminate this Lease by giving Tenant written notice thereof, in which event Tenant shall pay to Landlord the sum of: (1) all Rent accrued hereunder through the date of termination; and (2) all amounts due under Section 18(a). 
(b)    Termination of Possession.  Terminate Tenant’s right to possess the Premises without terminating this Lease by giving written notice thereof to Tenant, in which event Tenant shall pay to Landlord: (1) all Rent and other amounts accrued hereunder to the date of termination of possession; (2) all amounts due from time to time under Section 17(a); and (3) all Rent and other net sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during such period, after deducting all reasonable and documented costs incurred by Landlord in reletting the Premises.  If Landlord elects to proceed under this Section 17(b), Landlord may remove all of Tenant’s property from the Premises and store the same in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby.  Landlord shall use commercially reasonable efforts to relet the Premises on such terms as Landlord in its sole discretion may determine (including a term different from the 

Term, rental concessions, and alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to expend funds in connection with reletting the Premises, nor to relet the Premises before leasing other portions of the Building or Complex, as applicable, and Landlord shall not be obligated to accept any prospective tenant proposed by Tenant unless such proposed tenant meets all of Landlord’s standard leasing criteria.  Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or to collect rent due for such reletting.  Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder.  Reentry by Landlord in the Premises shall not affect Tenant’s obligations hereunder for the unexpired Term; rather, Landlord may, from time to time, bring an action against Tenant to collect amounts due by Tenant, without the necessity of Landlord’s waiting until the expiration of the Term.  Unless Landlord delivers written notice to Tenant expressly stating that it has elected to terminate this Lease, all actions taken by Landlord to dispossess or exclude Tenant from the Premises shall be deemed to be taken under this Section 17(b).  If Landlord elects to proceed under this Section 17(b), it may at any time elect to terminate this Lease under Section 17(a).
(c)    Perform Acts on Behalf of Tenant.   Perform any act Tenant is obligated to perform under the terms of this Lease (and enter upon the Premises in connection therewith if necessary) in Tenant’s name and on Tenant’s behalf, without being liable for any claim for damages therefor, and Tenant shall reimburse Landlord on demand for any reasonable and documented expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease (including, but not limited to, reasonable and documented collection costs and legal expenses), plus interest thereon at the Default Rate; or
(d)    Landlord Defaults and Tenant Remedies.  Landlord shall be in default under this Lease in the event Landlord has not begun and pursued with reasonable diligence the cure of any failure of Landlord to meet its obligations under this Lease within thirty (30) days of the receipt by Landlord of written notice from Tenant of Landlord’s alleged failure to perform (and an additional reasonable time after such receipt if (A) such failure cannot be cured within such thirty (30) day period, and (B) Landlord commences curing such failure within such thirty (30) day period and thereafter diligently pursues the curing of such failure).  In no event shall Tenant have the right to terminate or rescind this Lease as a result of Landlord’s default.  Tenant waives such remedies of termination or rescission (except as otherwise specifically provided for in this Lease) and agrees that Tenant’s remedies for default under this Lease and for breach of any promise or inducement are limited to (a) the right to remedy such default or breach and be reimbursed the reasonable costs thereof within thirty (30) days after Landlord’s receipt of a paid invoice and contractor’s lien waivers as applicable, therefore, and if Landlord fails to reimburse Tenant within such 30-day period, Tenant may offset the next amount of Base Rent then coming due under this Lease, or (ii) a suit for damages and/or injunction, and all remedies are specifically subject to Section 25(b).  In addition, Tenant shall prior to the exercise of any such remedies, provide each Landlord’s Mortgagee (in each instance, only as to those entities of which Tenant has notice of their interest) with written notice and reasonable time to cure any default by Landlord.
18.    Payment by Tenant; Non-Waiver; Cumulative Remedies.

(a)    Payment by Tenant.  Upon any Event of Default, Tenant shall pay to Landlord all reasonable and documented costs incurred by Landlord (including documented court costs and reasonable and documented attorneys’ fees and expenses) in: (1) obtaining possession of the Premises; (2) removing and storing Tenant’s or any other occupant’s property; (3) repairing, restoring, altering, remodeling, or otherwise putting the Premises into the condition existing on the Commencement Date, reasonable wear and tear excepted; (4) if Tenant is dispossessed of the Premises and this Lease is not terminated, reletting all or any part of the Premises (including prorated brokerage commissions, documented cost of tenant finish work, and other documented costs incidental to such reletting); (5) performing Tenant’s obligations which Tenant failed to perform; and (6) enforcing, or advising Landlord of, its rights, remedies, and recourses arising out of the Event of Default.  To the full extent permitted by Law, Landlord and Tenant agree the federal and state courts of the state in which the Premises are located shall have exclusive jurisdiction over any matter relating to or arising from this Lease and the parties’ rights and obligations under this Lease.
(b)    No Waiver.   Landlord’s acceptance of Rent following an Event of Default shall not waive Landlord’s rights regarding such Event of Default.  No waiver by Landlord of any violation or breach of any of the terms contained herein shall waive Landlord’s rights regarding any future violation of such term.  Landlord’s acceptance of any partial payment of Rent shall not waive Landlord’s rights with regard to the remaining portion of the Rent that is due, regardless of any endorsement or other statement on any instrument delivered in payment of Rent or any writing delivered in connection therewith; accordingly, Landlord’s acceptance of a partial payment of Rent shall not constitute an accord and satisfaction of the full amount of the Rent that is due.
(c)    Cumulative Remedies.   Any and all remedies set forth in this Lease:  (1) shall be in addition to any and all other remedies Landlord may have at law or in equity; (2) shall be cumulative; and (3) may be pursued successively or concurrently as Landlord may elect.  The exercise of any remedy by Landlord shall not be deemed an election of remedies or preclude Landlord from exercising any other remedies in the future.
(d)    No Designation.   If Tenant is in arrears in payment of Rent, Tenant waives its right, if any, to designate the items to which any payments made by Tenant are to be credited, and Landlord may apply any payments made by Tenant to such items as Landlord sees fit, irrespective of any designation or request by Tenant as to the items to which any such payments shall be credited.
(e)    No Counterclaims.   Tenant shall not interpose any counterclaim (other than a compulsory counterclaim) in any summary proceeding commenced by Landlord to recover possession of the Premises and shall not seek to consolidate such proceeding with any action which may have been or will be brought by Tenant or any other person or entity.
19.Landlord’s  Lien.    Landlord hereby waives any contractual or statutory landlord’s lien with respect to the Collateral.
20.Surrender of Premises.   No act by Landlord shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises shall be valid unless it is in writing and signed by Landlord.  At the expiration or termination of this Lease, Tenant 

shall deliver to Landlord the Premises with all improvements located therein in good repair and condition, free of Hazardous Materials placed on the Premises during the Term, broom-clean, reasonable wear and tear (except for any Taking or Casualty damage, as to which Section 13 and Section 14 shall control) excepted, and shall deliver to Landlord all keys to the Premises.  Provided that Tenant has performed all of its obligations hereunder, Tenant may remove all unattached trade fixtures, furniture, and personal property placed in the Premises or elsewhere in the Building by Tenant (but Tenant may not remove any such item which was paid for, in whole or in part, by Landlord).  Further, Tenant must remove any and all wiring and cabling prior to the Expiration Date.  Additionally, at Landlord’s option, Tenant shall (not later than ten (10) days after the expiration or earlier termination of the Lease) remove such alterations, additions (including stairs and bank vaults), improvements, trade fixtures, personal property, equipment, wiring, conduits, cabling and furniture (including Tenant’s Off-Premises Equipment) to the extent Landlord gave Tenant notice of such requirement in its Alterations Consent.  All items required to be removed by Landlord and not so removed shall, at Landlord’s option, be deemed to have been abandoned by Tenant and may be appropriated, sold, stored, destroyed, or otherwise disposed of by Landlord at Tenant’s cost without notice to Tenant and without any obligation to account for such items; any such disposition shall not be considered a strict foreclosure or other exercise of Landlord’s rights in respect of the security interest granted under Section 19.  The provisions of this Section 20 shall survive the expiration or earlier termination of the Lease.
21.Holding Over.   If Tenant fails to vacate the Premises at the end of the Term, then Tenant shall be a tenant at sufferance and, in addition to all other damages and remedies to which Landlord may be entitled for such holding over: (a) Tenant shall pay, in addition to the other Rent, Base Rent equal to one hundred ten percent (110%) of the Base Rent payable during the last month of the Term during the first thirty (30) days of such holding over, (b) one hundred fifty percent (150%) of the Base Rent payable during the last month of the Term for the remainder of the holdover period; and (c) at all times during the holdover period, Tenant shall otherwise continue to be subject to all of Tenant’s obligations under this Lease.  The provisions of this Section 22 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at Law.  If Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including any claims made by any succeeding tenant founded upon such failure to surrender, and any lost profits to Landlord resulting therefrom.  Notwithstanding the foregoing, if Tenant holds over with Landlord’s express written consent, then Tenant shall be a month-to-month tenant and Tenant shall pay, in addition to the other Rent, Base Rent equal to one hundred twenty-five percent (125%) of the Base Rent payable during the last month of the Term.
22.Certain Rights Reserved by Landlord.   Landlord shall have the following rights:
(a)    Building Operations.  To decorate and to make inspections, repairs, alterations, additions, changes, or improvements, whether structural or otherwise, in and about the Project or any part thereof; to enter upon the Premises (after giving Tenant reasonable notice thereof, which may be oral notice, except in cases of real or apparent emergency, in which 

case no notice shall be required) and, subject to Section 7(e), during the continuance of any such work, to temporarily close doors, entryways, public space, and corridors in the Building; to interrupt or temporarily suspend Building services; to change the name of the Building; and to change the arrangement and location of entrances or passageways, doors, and doorways, corridors, elevators, stairs, restrooms, or other public parts of the Building; provided, that such alterations, changes, and improvements that are not being performed in connection with or as the result of an emergency shall not have a materially adverse effect on Tenant’s rights hereunder, and Landlord shall make reasonable efforts not to interfere with Tenant’s normal course of business;
(b)    Security.   To take such reasonable security measures as Landlord deems advisable (provided, however, that any such security measures are for Landlord’s own protection, and Tenant acknowledges that Landlord is not a guarantor of the security or safety of any Tenant Party and that such security matters are the responsibility of Tenant), including evacuating the Building for cause, suspected cause, or for drill purposes; temporarily denying access to the Building; and closing the Building after Normal Business Hours and on Sundays and Holidays, subject, however, to Tenant’s right to enter when the Building is closed after Normal Business Hours under such reasonable regulations as Landlord may prescribe from time to time;
(c)    Repairs and Maintenance.   To enter the Premises, upon reasonable prior notice to Tenant (which obligation will be waived during an emergency and which otherwise may be by verbal or email notice) at reasonable hours to perform Landlord’s repair and maintenance obligations and rights under the Lease; 
(d)    Prospective Purchasers and Lenders.  To enter the Premises, upon reasonable prior notice to Tenant (which may be verbal or by email), at reasonable hours, to show the Premises to prospective purchasers or lenders; and
(e)    Prospective Tenants.   At any time during the last twelve (12) months of the Term (or earlier if Tenant has notified Landlord in writing that it does not desire to renew the Term) upon reasonable prior notice to Tenant (which may be verbal or by email), or at any time following the occurrence of an Event of Default, to enter the Premises at all reasonable hours to show the Premises to prospective tenants.
23.Substitution Space.    Intentionally Omitted.
24.Hazardous Materials.   (a)    As of the date hereof, Landlord represents, warrants and covenants with any diligence, investigation or inquiry, that the Project including the Premises, do not contain asbestos or other Hazardous Materials (as defined in Section 25(i) hereof) in violation of applicable Environmental Laws (as defined in Section 25(j) below), except, in the case of Hazardous Materials only and not asbestos, commercially reasonable quantities for construction purposes, cleaning agents and other substances normally used in the construction, operation and maintenance of office buildings and not prohibited by applicable Environmental Law, all of which shall be stored, used and disposed of in accordance with applicable Environmental Laws.  Landlord agrees not to knowingly use, dispose, store or generate any asbestos or other Hazardous Materials in violation of Environmental Laws in the common areas or other areas of the Project or Complex which are in Landlord’s control and in the event such Environmental Laws require Landlord to 

remove or otherwise remedy the existence of any such asbestos or Hazardous Materials, Landlord agrees to remove or remedy same at its sole cost and expense (and the cost thereof shall not be treated as an operating expense).  Landlord agrees to indemnify and save Tenant harmless against any losses, damages, costs, liabilities and claims suffered by Tenant in connection with a breach by Landlord of its obligations set forth in this Section 25, except for such losses, damages, costs, liabilities or claims caused by Tenant’s or any Tenant Party’s negligence or intentional misconduct or breach of any provisions in this Section 25.
(b)  Tenant shall use, and conduct its operations at, the Premises in compliance with all applicable Environmental Laws, and will cause any Tenant Party or other person which enters upon, occupies or uses the Premises, to do so in compliance with all such Environmental Laws, will immediately pay or cause to be paid all costs and expenses incurred by reason of such compliance.
(c)  Tenant shall not generate, use, treat, store, handle, release or dispose of, or permit the generation, use, treatment, storage, handling, release or disposal of Hazardous Materials on the Premises or the Project, or transport or permit the transportation of Hazardous Materials to or from the Premises or the Project or, except for limited quantities of household cleaning products and office supplies used or stored at the Premises and required in connection with the routine operation and maintenance of the Premises, and in compliance with all applicable Environmental Laws, will immediately pay or cause to be paid all costs and expenses incurred by reason of such compliance.
(d)  Tenant will immediately advise Landlord in writing of any of the following: (1) any pending or threatened Environmental Claim (as defined in Section 25(i) below) against Tenant relating to the Premises; (2) any condition or occurrence on the Premises that (a) results in noncompliance by Tenant with any applicable Environmental Law, or (b) could reasonably be anticipated to form the basis of an Environmental Claim against Tenant or Landlord or the Premises; (3) any condition or occurrence on the Premises or any property adjoining the Premises that could reasonably be anticipated to cause the Premises to be subject to any restrictions on the ownership, occupancy, use or transferability of the Premises under any Environmental Law; and (4) the actual or anticipated taking of any removal or remedial action by Tenant in response to the actual or alleged presence of any Hazardous Material on the Premises.  All such notices shall describe in reasonable detail the nature of the claim, investigation, condition, occurrence or removal or remedial action and Tenant’s response thereto.  In addition, Tenant will provide Landlord with copies of all communications regarding the Premises with any governmental agency relating to Environmental Laws, all such communications with any person relating to Environmental Claims, and such detailed reports of any such Environmental Claim as may reasonably be requested by Landlord.
(e)  Tenant will not change or permit to be changed the present use of the Premises.
(f)  Tenant agrees to indemnify, defend and hold harmless the Indemnitees from and against all obligations (including removal and remedial actions), losses, claims, suits, judgments, liabilities, penalties, damages (including consequential and punitive 

damages), costs and expenses (including reasonable attorneys’ and consultants’ fees and expenses) of any kind or nature whatsoever that may at any time be incurred by, imposed on or asserted against such Indemnitees directly or indirectly based on, or arising or resulting from (a) the actual or alleged presence of Hazardous Materials on the Complex which is caused or permitted by Tenant or a Tenant Party and (b) any Environmental Claim relating in any way to Tenant’s operation or use of the Premises (the “Hazardous Materials Indemnified Matters”). The foregoing indemnity shall not include any Hazardous Materials that were located at the Premises or the Project on the Commencement Date, nor any Hazardous Materials placed on the Premises or Project by Landlord, its employees, agents, or contractors, all of which will be Landlord’s responsibility to remediate, encapsulate or otherwise clean-up as may be required by applicable Environmental Laws. The provisions of this Section 25 shall survive the expiration or sooner termination of this Lease.
(g)  To the extent that the undertaking in the preceding paragraph may be unenforceable because it is violative of any law or public policy, Tenant will contribute the maximum portion that it is permitted to pay and satisfy under applicable Law to the payment and satisfaction of all Hazardous Materials Indemnified Matters incurred by the Indemnitees.
(h)  All documented sums paid and documented costs incurred by Landlord with respect to any Hazardous Materials Indemnified Matter shall bear interest at the Default Rate from the date so paid or incurred until reimbursed by Tenant, and all such sums and costs shall be immediately due and payable on demand.
(i)  “Hazardous Materials” means: (i) petroleum or petroleum products, natural or synthetic gas, asbestos in any form that is or could become friable, urea formaldehyde foam insulation, and radon gas; (ii) any substances defined as or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely hazardous wastes,” “restricted hazardous wastes,” “toxic substances,” “toxic pollutants,” “contaminants” or “pollutants,” or words of similar import, under any applicable Environmental Law; and (iii) any other substance exposure which is regulated by any governmental authority; (b) “Environmental Law” means any federal, state or local statute, law, rule, regulation, ordinance, code, policy or rule of common law now or hereafter in effect and in each case as amended, and any judicial or administrative interpretation thereof, including any judicial or administrative order, consent decree or judgment, relating to the environment, health, safety or Hazardous Materials, including without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. §§ 9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. §§ 1801 et seq.; the Clean Water Act, 33 U.S.C. §§ 1251 et seq.; the Toxic Substances Control Act, 15 U.S.C. §§ 2601 et seq.; the Clean Air Act, 42 U.S.C. §§ 7401 et seq.; the Safe Drinking Water Act, 42 U.S.C. §§ 300f et seq.; the Atomic Energy Act, 42 U.S.C. §§ 2011 et seq.; the Federal Insecticide, Fungicide and Rodenticide Act, 7 U.S.C. §§ 136 et seq.; the Occupational Safety and Health Act, 29 U.S.C. §§ 651 et seq.; (c) “Environmental Claims” means any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation, investigations, proceedings, consent orders or consent agreements relating in any way to any Environmental Law or any Environmental Permit, including without limitation (i) any and all Environmental Claims by governmental or regulatory authorities for enforcement, cleanup, removal, 

response, remedial or other actions or damages pursuant to any applicable Environmental Law and (ii) any and all Environmental Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting from Hazardous Materials or arising from alleged injury or threat of injury to health, safety or the environment.
25.Miscellaneous.   
(b)    Landlord Transfer.   Landlord may transfer any portion of the Building and any of its rights under this Lease.  If Landlord assigns its rights under this Lease, then Landlord shall thereby be released from any further obligations hereunder arising after the date of transfer, provided that the assignee assumes Landlord’s obligations hereunder in writing.
(c)    Landlord’s Liability.   THE LIABILITY OF LANDLORD (AND ITS PARTNERS, SHAREHOLDERS OR MEMBERS) TO TENANT (OR ANY PERSON OR ENTITY CLAIMING BY, THROUGH OR UNDER TENANT) FOR ANY DEFAULT BY LANDLORD UNDER THE TERMS OF THIS LEASE OR ANY MATTER RELATING TO OR ARISING OUT OF THE OCCUPANCY OR USE OF THE PREMISES AND/OR OTHER AREAS OF THE BUILDING OR COMPLEX SHALL BE LIMITED TO TENANT’S ACTUAL DIRECT, BUT NOT CONSEQUENTIAL (OR OTHER SPECULATIVE), DAMAGES THEREFOR AND SHALL BE RECOVERABLE ONLY FROM THE INTEREST OF LANDLORD IN THE BUILDING, AND LANDLORD (AND ITS PARTNERS, SHAREHOLDERS OR MEMBERS) SHALL NOT BE PERSONALLY LIABLE FOR ANY DEFICIENCY.  
(d)    Force Majeure.   Other than for Tenant’s obligations under this Lease that can be performed by the payment of money (e.g., payment of Rent and maintenance of insurance) and Tenant’s obligations pursuant to Exhibit D attached hereto, whenever a period of time is herein prescribed for action to be taken by either party hereto, such party shall not be liable or responsible for, and there shall be excluded from the computation of any such period of time, any delays due to strikes, riots, acts of God, shortages of labor or materials, war, acts of terrorism, governmental laws, regulations, or restrictions, or any other causes of any kind whatsoever which are beyond the control of such party.
(e)    Brokerage.   Landlord and Tenant warrant and represent to each other that neither party has dealt with any broker or agent in connection with the negotiation or execution of this Lease other than as set forth in the Basic Lease Information.  Landlord and Tenant shall indemnity, defend and hold each other, harmless  from and against all costs, expenses, attorney’s fees, liens or liability for any commissions or other compensation claimed by any other broker or agent, with respect to this Lease or the negotiation thereof, based on the actions of the indemnifying party, its agents or representatives. The obligations of each party contained herein shall survive the expiration or earlier termination of the Lease. Landlord shall be responsible for the payment of brokerage commissions or fees to each of the brokers listed in the Basic Lease Information.  
(e) Estoppel Certificates.   From time to time, but not more frequently than once in any twelve (12) month period, other than in connection with a sale of Building, a refinancing of the debt on the Building or an Event of Default by Tenant hereunder, Tenant shall furnish to any 

party designated by Landlord, within ten (10) Business Days after Landlord has made a request therefor, a certificate signed by Tenant confirming and containing such factual certifications and representations as to this Lease as Landlord may reasonably request.  Unless otherwise required by Landlord’s Mortgagee or a prospective purchaser or mortgagee of the Building, the initial form of estoppel certificate to be signed by Tenant is attached hereto as Exhibit G.
(f)  Notices.   All notices and other communications given pursuant to this Lease shall be in writing and shall be: (1) mailed by first class, United States Mail, postage prepaid, certified, with return receipt requested, and addressed to the parties hereto at the address specified in the Basic Lease Information; (2) hand delivered to the intended addressee; (3) sent by a nationally recognized overnight courier service; or (4) sent by facsimile transmission during Normal Business Hours followed by a copy of such notice sent in another manner permitted hereunder.  All notices shall be effective upon the earlier to occur of actual receipt, one (1) Business Day following deposit with a nationally recognized overnight courier service, or three (3) days following deposit in the United States mail.  The parties hereto may change their addresses by giving notice thereof to the other in conformity with this provision.
(g)  Separability.   If any clause or provision of this Lease is illegal, invalid, or unenforceable under present or future Laws, then the remainder of this Lease shall not be affected thereby and shall remain valid and be enforced to the fullest extent permitted by law.
(h)  Amendments; Binding Effect.   This Lease may not be amended except by instrument in writing signed by Landlord and Tenant.  No provision of this Lease shall be deemed to have been waived by Landlord unless such waiver is in writing signed by Landlord, and no custom or practice which may evolve between the parties in the administration of the terms hereof shall waive or diminish the right of Landlord to insist upon the performance by Tenant in strict accordance with the terms hereof.  The terms and conditions contained in this Lease shall inure to the benefit of and be binding upon the parties hereto, and upon their respective successors in interest and legal representatives, except as otherwise herein expressly provided.  This Lease is for the sole benefit of Landlord and Tenant, and, other than Landlord’s Mortgagee, no third party shall be deemed a third party beneficiary hereof.
(i)  Quiet Enjoyment.   Provided Tenant has performed all of its obligations hereunder, Tenant shall peaceably and quietly hold and enjoy the Premises for the Term, without hindrance from Landlord or any party claiming by, through, or under Landlord, but not otherwise, subject to the terms and conditions of this Lease.
(j)  No Merger.   There shall be no merger of the leasehold estate hereby created with the fee estate in the Premises or any part thereof if the same person acquires or holds, directly or indirectly, this Lease or any interest in this Lease and the fee estate in the leasehold Premises or any interest in such fee estate.
(k)  No Offer.   The submission of this Lease to Tenant shall not be construed as an offer, and Tenant shall not have any rights under this Lease unless Landlord executes a copy of this Lease and delivers it to Tenant.

(l)  Entire Agreement.   This Lease constitutes the entire agreement between Landlord and Tenant regarding the subject matter hereof and supersedes all oral statements and prior writings relating thereto.  Except for those set forth in this Lease, no representations, warranties, or agreements have been made by Landlord or Tenant to the other with respect to this Lease or the obligations of Landlord or Tenant in connection therewith.  The normal rule of construction that any ambiguities be resolved against the drafting party shall not apply to the interpretation of this Lease or any exhibits or amendments hereto.
(m)  Waiver of Jury Trial.   TO THE MAXIMUM EXTENT PERMITTED BY LAW, LANDLORD AND TENANT EACH WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY LITIGATION OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE ARISING OUT OF OR WITH RESPECT TO THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO.
(n)  Governing Law.   This Lease shall be governed by and construed in accordance with the laws of the state in which the Premises are located (the “State”).
(o)  Recording.   Tenant shall not record this Lease or any memorandum of this Lease without the prior written consent of Landlord, which consent may be withheld or denied in the sole and absolute discretion of Landlord, and any recordation by Tenant shall be a material breach of this Lease.  Tenant grants to Landlord a power of attorney to execute and record a release releasing any such recorded instrument of record that was recorded without the prior written consent of Landlord, which power of attorney is coupled with an interest and is non-revocable during the Term.
(p)  Joint and Several Liability.  If Tenant is comprised of more than one (1) party, each such party shall be jointly and severally liable for Tenant’s obligations under this Lease.  All unperformed obligations of Tenant hereunder not fully performed at the end of the Term shall survive the end of the Term, including payment obligations with respect to Rent and all obligations concerning the condition and repair of the Premises.
(q)  Financial Reports.  Within fifteen (15) days after Landlord’s request, Tenant will furnish Tenant’s most recent audited financial statements (including any notes to them) to Landlord, or, if no such audited statements have been prepared, such other financial statements (and notes to them) as may have been prepared by an independent certified public accountant or, failing those, Tenant’s internally prepared financial statements.  If Tenant is a publicly traded corporation, Tenant may satisfy its obligations hereunder by providing to Landlord Tenant’s most recent annual and quarterly reports.  Tenant will discuss its financial statements with Landlord and, following the occurrence of an Event of Default hereunder, will give Landlord access to Tenant’s books and records in order to enable Landlord to verify the financial statements.  Landlord will not disclose any aspect of Tenant’s financial statements that Tenant designates to Landlord as confidential except: (1) to Landlord’s Mortgagee or prospective mortgagees or purchasers of the Building; (2) to Landlord’s advisors and consultants; (3) in litigation between Landlord and Tenant; and (4) if required by court order.  Tenant shall not be required to deliver the financial statements required 

under this Section 26(q) more than once in any twelve (12) month period unless requested by Landlord’s Mortgagee or a prospective buyer or lender of the Building or an Event of Default occurs.
(r)  Landlord’s Fees.   Whenever Tenant requests Landlord to take any action not required of it hereunder or give any consent required or permitted under this Lease, Tenant will reimburse Landlord for Landlord’s reasonable, documented out-of-pocket costs payable to third parties and incurred by Landlord in reviewing the proposed action or consent, including reasonable and documented attorneys’, engineers’ or architects’ fees, within thirty (30) days after Landlord’s delivery to Tenant of a statement of such costs.  Tenant will be obligated to make such reimbursement without regard to whether Landlord consents to any such proposed action.
(s)  Telecommunications.  Tenant and its telecommunications companies, including local exchange telecommunications companies and alternative access vendor services companies, shall have no right of access to and within the Building, other than the Premises, for the installation and operation of telecommunications systems, including voice, video, data, Internet, and any other services provided over wire, fiber optic, microwave, wireless, and any other transmission systems (“Telecommunications Services”), for part or all of Tenant’s telecommunications within the Building and from the Building to any other location without Landlord’s prior written consent.  All providers of Telecommunications Services shall be required to comply with the reasonable rules and regulations of the Building, applicable Laws and Landlord’s policies and practices for the Building.  Tenant acknowledges that Landlord shall not be required to provide or arrange for any Telecommunications Services and that Landlord shall have no liability to any Tenant Party in connection with the installation, operation or maintenance of Telecommunications Services or any equipment or facilities relating thereto.  Tenant, at its cost and for its own account, shall be solely responsible for obtaining all Telecommunications Services.
(t)      Representations and Warranties.  
(i)    Tenant represents and warrants to, and covenants with, Landlord that neither Tenant nor, to its knowledge, any of its Affiliates currently are, or shall be at any time during the Term hereof, in violation of any laws relating to terrorism or money laundering (collectively, the “Anti-Terrorism Laws”), including without limitation Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (the “Executive Order”) and/or the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56) (the “USA Patriot Act”).  
(ii)    Tenant covenants with Landlord that Tenant shall not be during the Term hereof a “Prohibited Person,” which is defined as follows:  (A) a person or entity that is listed in the Annex to, or is otherwise subject to, the provisions of the Executive Order; (B) a person or entity owned or controlled by, or acting for or on behalf of, any person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; (C) a person or entity with whom Landlord is prohibited from dealing with or otherwise engaging in any transaction by any Anti-Terrorism Law, including without limitation the Executive Order and the USA Patriot Act; (D) a person or entity who commits, threatens or conspires to commit or support “terrorism” as 

defined in Section 3(d) of the Executive Order; (E) a person or entity that is named as a “specially designated national and blocked person” on the then-most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official website, http://www.treas.gov/offices/eotffc/ofac/sdn/t11sdn.pdf, or at any replacement website or other replacement official publication of such list; and (F) a person or entity who is affiliated with a person or entity listed in items (A) through (E), above.
(iii)    At any time and from time-to-time during the Term, Tenant shall deliver to Landlord, within ten (10) days after receipt of a written request therefor, a written certification or such other evidence reasonably acceptable to Landlord evidencing and confirming Tenant’s compliance with this Section 26(t).
(u)  Confidentiality.    Tenant acknowledges that the terms and conditions of this Lease are to remain confidential for Landlord’s benefit, and may not be disclosed by Tenant to anyone, by any manner or means, directly or indirectly, without Landlord’s prior written consent.  The consent by Landlord to any disclosures shall not be deemed to be a waiver  on the part of Landlord of any prohibition against any future disclosure.
(v)  Authority.   Tenant (if a corporation, partnership or other business entity) hereby represents and warrants to Landlord that Tenant is a duly formed and existing entity qualified to do business in the state in which the Premises are located, that Tenant has full right and authority to execute and deliver this Lease, and that each person signing on behalf of Tenant is authorized to do so.
(w)  Usufruct.   This Lease creates only a usufruct and no estate in land shall be deemed to have passed to Tenant by reason hereof.
(x)  Adjacent Excavation.   If an excavation shall be made upon land adjacent to the Building, or shall be authorized to be made, Tenant shall afford the person causing (or authorized to cause) such excavation access to the Premises for the purpose of doing such work as said person shall deem necessary to preserve or protect the Building or any portion thereof from injury or damage and to support the same by proper foundation, in all events without any claim for damages or indemnity against Landlord or diminution or abatement of Rent.
(y)    On-Site Refueling.  If Tenant uses any generators, forklifts, trucks or other vehicles or equipment at the Premises or Project and desires to refuel same, then prior to the commencement of any such refueling, Tenant shall comply with the provisions set forth in this Subsection 26(y).  In no event shall any refueling occur outside and/or upon the Premises without Landlord’s prior written consent, which consent may be withheld in Landlord’s sole discretion.  Tenant hereby covenants and agrees that it shall at all times comply with all applicable federal, state, and local laws, ordinances, rules and regulations, all court orders, governmental directives, and governmental orders and all interpretations of the foregoing, pertaining to secondary containment for fuel storage, distribution or transfer facilities (including without limitation the refueling of vehicles, equipment, generators, or other portable refueling operations), including but not limited to the Spill Prevention, Control, and Countermeasure Plan requirements contained in 40 CFR Part 112 (“SPCC”).

(i)    Tenant shall obtain and maintain, in addition to the insurance coverages required in Section 11(a), environmental clean-up and liability insurance in amounts of no less than $2,000,000 per occurrence and pollution liability insurance in amounts of no less than $2,000,000 per occurrence, naming Landlord, Landlord’s property management company and Invesco as an additional insured and otherwise complying with the requirements of Section 11(a).  The foregoing coverages are in addition to the coverages required by any contractors or subcontractors performing work at the Project, as more particularly described in Section 8(b)(iii).  A copy of the certificates of insurance shall be provided to Landlord prior to commencement of any refueling activities.
(ii)    Tenant shall provide Landlord with a formal Spill Management Plan (the “SMP”) for Landlord’s review and written approval.  Such SMP must include at a minimum: (a) the types and amounts of fuel that will be used and/or stored at the Premises and Project; (b) the types and number of equipment and/or vehicles that will be refueled; (c) the name(s) of the contractor(s) which will be conducting the refueling and a copy of the contract with such contractor(s); (d) an insurance certificate evidencing that each such contractor maintains, in addition to the coverages described in Section 8(b)(iii), Contractors Pollution Liability insurance on an occurrence basis, in amounts of no less than $2,000,000 per occurrence, naming Tenant, Landlord, Landlord’s property management company and Invesco as additional insureds; (e) the days and times when such refueling will occur, and the location within the Premises or Project designated for refueling activities; (f) a list of the containment supplies that Tenant will have on-hand at all times; and (g) a contingency plan for spills.  Tenant shall make such changes to the SMP as may be required by Landlord.  No fueling activities shall occur until Landlord has approved Tenant’s SMP in writing.  Landlord’s approval of the SMP shall not be a representation or warranty of Landlord that the SMP is adequate for any use or complies with the SPCC or any other Law, but shall merely be the consent of Landlord thereto.  Tenant shall comply with, and shall cause each of its contractor’s to comply with, the final SMP that has been approved by Landlord.  Tenant shall immediately notify Landlord in writing in the event of any spill at the Premises or Project related to the activities of Tenant or its contractors. 
(iii)    Fueling shall occur only over diesel resistive substrate (such as concrete) with methods of controlling run-off in place should a release occur, such control being in accordance with the SPCC and no less than the Landlord-approved SMP.  If refueling at the Premises or Project could jeopardize or potentially invalidate a stormwater permit for the Premises or Project, Tenant shall perform such work as may be required (including without limitation installing curbing around fueling operations at Tenant’s cost, in a location and in accordance with plans approved in advance in writing by Landlord), such that there is no adverse effect to such permit and said permit remains valid and in good standing.
(iv)    Any and all obligations (including removal and remedial actions), losses, claims, suits, judgments, liabilities, penalties, damages (including consequential and punitive damages), costs and expenses (including reasonable attorneys’ and consultants’ fees and expenses) of any kind or nature whatsoever that may at any time be incurred by, imposed on or asserted against Landlord or the Indemnitees in connection with refueling 

operations at the Premises or Project shall be deemed Hazardous Materials Indemnified Matters, as defined in Section 25(f).
(y)  List of Exhibits.   All exhibits and attachments attached hereto are incorporated herein by this reference.
Exhibit A -    Outline of Premises 
Exhibit B -    Description of the Land 
Exhibit C -    Additional Rent, Taxes and Insurance 
Exhibit D -    Tenant Finish-Work 
Exhibit E -    Building Rules and Regulations 
Exhibit F -    Form of Confirmation of Commencement Date Letter 
Exhibit G -    Form of Tenant Estoppel Certificate 
Exhibit H -    Renewal Option 
Exhibit I -    Right of First Refusal
Exhibit I-1-    Refusal Space 
Exhibit J -    Right of First Offer
Exhibit K -     Rent Abatement Provisions
Exhibit L -     SNDA

LANDLORD AND TENANT EXPRESSLY DISCLAIM ANY IMPLIED WARRANTY THAT THE PREMISES ARE SUITABLE FOR TENANT’S INTENDED COMMERCIAL PURPOSE, AND, EXCEPT AS MAY BE EXPRESSLY PROVIDED HEREIN, TENANT’S OBLIGATION TO PAY RENT HEREUNDER IS NOT DEPENDENT UPON THE CONDITION OF THE PREMISES OR THE PERFORMANCE BY LANDLORD OF ITS OBLIGATIONS HEREUNDER, AND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN, TENANT SHALL CONTINUE TO PAY THE RENT, WITHOUT ABATEMENT, DEMAND, SETOFF OR DEDUCTION, EXCEPT AS EXPRESSLY PERMITTED HEREUNDER, NOTWITHSTANDING ANY BREACH BY LANDLORD OF ITS DUTIES OR OBLIGATIONS HEREUNDER, WHETHER EXPRESS OR IMPLIED.

This Lease is executed on the respective dates set forth below, but for reference purposes, this Lease shall be dated as of the date first above written.  If the execution date is left blank, this Lease shall be deemed executed as of the date first written above.
		
	LANDLORD:
	Peachtree II and III, L.L.C., a Georgia limited liability company

By: /s/ Traci Tomas    
Name: Traci Tomas    
Title: Vice President    
 
Execution Date: July 18, 2013    
		
	TENANT:
	MDA HOLDINGS, INC., 
a Delaware corporation 

		
	 
By: /s/ James E. Ginter
	 
Name: James E. Ginter     
Title: President     
Execution Date: July 18, 2013    

EXHIBIT A
OUTLINE OF PREMISES

EXHIBIT B
DESCRIPTION OF THE LAND

EXHIBIT C
ADDITIONAL RENT, TAXES, AND INSURANCE
1.    Additional Rent.  During the Term, Tenant shall pay to Landlord Tenant’s Proportionate Share of the annual Operating Costs (defined below) in the Project (“Additional Rent”).  Landlord may make a good faith estimate of the Additional Rent to be due by Tenant for any calendar year or part thereof during the Term.  During each calendar year or partial calendar year of the Term, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Base Rent, an amount equal to the estimated Additional Rent for such calendar year or part thereof divided by the number of months therein.  From time to time, Landlord may estimate and re-estimate the Additional Rent to be due by Tenant and deliver a copy of the estimate or re-estimate to Tenant.  Thereafter, the monthly installments of Additional Rent payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Additional Rent as estimated by Landlord.  Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year.
2.    Operating Costs.  The term “Operating Costs” shall mean all expenses and disbursements (subject to the limitations set forth below) that Landlord incurs in connection with the ownership, operation, and maintenance of the Project or Complex, as applicable, determined in accordance with sound accounting principles consistently applied, including the following costs:  (a) wages and salaries of all on-site employees engaged in the management, operation, maintenance, repair or security of the Project or Complex, as applicable (together with Landlord’s reasonable allocation of expenses of off-site employees who perform a portion of their services in connection with the operation, maintenance or security of the Project or Complex, as applicable), including taxes, insurance and benefits relating thereto; provided, that in no event shall Operating Expenses for purposes of this Lease include wages and/or benefits attributable to personnel above the level of Building Manager or Building Engineer; (b) all supplies and materials used in the operation, maintenance, repair, replacement, and security of the Project or Complex, as applicable; (c) costs for improvements made to the Project or Complex, as applicable which, although capital in nature, are (i) expected to reduce the normal operating costs (including all utility costs) of the Project or Complex, as applicable, as amortized using a commercially reasonable interest rate over the time period reasonably estimated by Landlord to recover the costs thereof taking into consideration the anticipated cost savings, as determined by Landlord using its good faith, commercially reasonable judgment, as well as (ii) capital improvements made in order to comply with any Law hereafter promulgated by any governmental authority or any interpretation hereafter rendered with respect to any Law existing on the date of the Lease, as amortized using a commercially reasonable interest rate over the useful economic life of such improvements as determined by Landlord in its reasonable discretion; (d) cost of all utilities; (e) repairs, replacements, and general maintenance of the Project or Complex, as applicable; (f) fair market rental and other costs with respect to the management office for the Building or Complex, if any; and (g) service, maintenance and management contracts with independent contractors for the operation, maintenance, management, repair, replacement, or security of the Project or Complex, as applicable, provided that management fees will not exceed four percent (4%) of the gross rentals paid to Landlord by all tenants of the Complex.  If the Building is part of a Complex, Operating Costs may be prorated among the Project and the other buildings of the Complex, as reasonably determined by Landlord.
Operating Costs shall not include costs for: (1) repair, replacements and general maintenance paid by proceeds of insurance or by Tenant or other third parties; (2) interest, amortization or other payments on loans to Landlord; (3) depreciation, amortization and interest payments, except as set forth above; (4) leasing commissions; (5) legal expenses for services, other than those that benefit the Project or Complex tenants, as applicable (e.g., tax disputes); (6) renovating or otherwise improving leased premises of the Project or Complex, as applicable or vacant space in the Project or Complex, as applicable; (7) Taxes and Insurance which are paid separately pursuant to Sections 3 and 4 below; (8) federal income taxes imposed on or measured by the income of Landlord from the operation of the Project or Complex, as applicable; (9) capital improvements made to the Project or Complex, as applicable, other than capital improvements described in Section 2 of this Exhibit and except for items which are generally considered maintenance and repair items, such as painting of Common Areas, and the like; (10) the cost of installing, operating and maintaining any specialty service, such as daycare, cafeteria, athletic or recreational club; (11) the cost of correcting defects in the construction of the Building or in the Building Systems; (12) salaries of officers and executives of Landlord; (13) the 

cost of any work or service performed for any tenant of the Building (other than Tenant) to a materially greater extent or in a materially more favorable manner than that furnished generally to the tenants and other occupants (including Tenant); (14) hazardous materials remediation costs; (15) management fees charged for the management of the Building in excess of four percent (4%); (16) the cost of (including increased real estate taxes and other operating expenses related to) any additions to the Building after the original construction; (17) the cost of any repairs, alterations, additions, changes, replacements and other items which are made in order to prepare for a new tenant's occupancy, including permit, license and inspection costs; (18) the cost of any repair in accordance with the casualty and condemnation sections of this Lease; (19) any advertising or promotional expenses; (20) any costs included in Operating Costs representing an amount paid to an entity  related to Landlord which is in excess of the amount which would have been paid in the absence of such relationship; (21) any expenses for repairs or maintenance which would have been covered by warranties and service contracts in existence on the Commencement Date; (22) any costs of painting, renovating, or decorating of any leased premises in the Building; (23) charges (including applicable taxes) for electricity, steam and other utilities for which Landlord is entitled to reimbursement from any tenant; (24) interest and penalties due to late payment of any amounts owed by Landlord, except such as may be incurred as a result of Tenant’s failure to timely pay its portion of such amounts or as a result of Landlord’s contesting such amounts in good faith; (25) costs related to the existence and maintenance of Landlord as a legal entity, except to the extent attributable to the operation and management of the Project or Complex, as applicable; (26) the cost of correcting latent defects in the Building, latent defects in the Premises which are disclosed to Landlord within one (1) year after the Commencement Date, and defects in base building construction for the Building, the Building Systems, the Parking Area, and other Common Areas; (27) the cost of any work or service performed for any tenant (including Tenant) at such tenant's cost, (28) any ground lease rental; (29) any inducement or “sign-up” payments paid to tenants for signing new leases in the Building (or for the exercise of options under existing leases); (30) any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord and/or all fees paid to any parking facility operator (on or off site); (31) costs of any electric power used by any tenant in the Building in excess of the Building‐standard amount; (32) costs incurred in connection with upgrading the Building to comply with disability, life, fire and safety codes, ordinances, statutes, or other laws in effect as in effect on the Commencement Date, including, without limitation, the ADA, and penalties or damages incurred due to such non‐compliance; (33) costs of any disputes between Landlord and its employees, Building management, or Tenant (or any other tenants); (34) any penalties, fines, costs, or interest resulting from the negligence or willful misconduct of Landlord or its agents, contractors, or employees, or resulting from the late payment of any operating expense or other cost or expense related to the Property, including mortgages, ground leases, equipment leases or other financing; (35) any fees, dues, voluntary contributions or similar expenses for political, charitable, civic, industry association or similar organizations; (36) costs for acquisition of any sculptures, paintings, or other objects of art, whether for interior or exterior use; (37) costs associated with the operation of the business of the partnership or entity which constitutes Landlord as the same are distinguished from the costs of operation of the Building, including partnership accounting and legal matters, (38) expenses incurred in removing any ex-tenant’s property from the Building; (39) any “validated” parking for any entity; (40) any “above‐standard” cleaning, including, but not limited to construction cleanup or special cleanings associated with parties/events and specific tenant requirements in excess of service provided to Tenant, including related trash collection, removal, hauling and dumping; (41) any reserves for equipment or capital replacement; (42) any bad debt losses or rental losses, or reserves for bad debt or rental losses; or (43) any other operating expenses, which, in accordance with generally accepted accounting principles, consistently applied, would not normally be treated as Operating Expenses by comparable landlords of comparable buildings.
Increases in Operating Costs shall, with the exception of utility charges, security expenses, the cost of complying with governmental requirements, and any other uncontrollable expenses, be limited to a per year cumulative increase of five percent (5%), compounded annually.  Increases in utility charges, security expenses, the cost of complying with governmental requirements, and any other uncontrollable expenses, shall not be subject to any limit or “cap.”

Landlord shall not collect or be entitled to collect Operating Costs from all of its tenants in an amount which is in excess of one hundred percent (100%) of the Operating Costs actually paid by Landlord in connection with the operation of the Project. All assessments and premiums which are not specifically charged to Tenant because of what Tenant has done, which can be paid by Landlord in installments, shall be paid by Landlord in the maximum number of installments permitted by law if requested by Tenant and not included as Operating Costs except in the year in which 

the assessment or premium installment is actually paid; provided, however, that if the prevailing practice in comparable buildings is to pay such assessments or premiums on an earlier basis, and Landlord pays on such basis, such assessments or premiums shall be included in Operating Costs as paid by Landlord.

Within one hundred twenty (120) days (the “Audit Election Period”) after Landlord furnishes to Tenant the Operating Costs, Tax and Insurance Statement for any calendar year, Tenant may, at its expense during Landlord’s normal business hours, elect to audit Landlord’s Operating Costs, Taxes and Insurance for such calendar year only, subject to the following conditions:  (1) there is no uncured Event of Default under this Lease; (2) the audit shall be prepared by an independent certified public accounting firm of recognized national standing; (3) in no event shall any audit be performed by a firm retained on a “contingency fee” basis; (4) the audit shall commence within thirty (30) days after Landlord makes Landlord’s books and records available to Tenant’s auditor and shall conclude within sixty (60) days after commencement; (5) the audit shall be conducted where Landlord maintains its books and records and shall not unreasonably interfere with the conduct of Landlord’s business; and (6) Tenant and its accounting firm shall treat any audit in a confidential manner and shall each execute Landlord’s confidentiality agreement for Landlord’s benefit prior to commencing the audit.  Tenant shall deliver a copy of such audit to Landlord within five (5) business days of receipt by Tenant.  Notwithstanding the foregoing, Tenant shall have no right to conduct an audit if Landlord furnishes to Tenant an audit report for the calendar year in question prepared by an independent certified public accounting firm of recognized national standing (whether originally prepared for Landlord or another party).  This paragraph shall not be construed to limit, suspend, or abate Tenant’s obligation to pay Rent when due, including estimated Operating Costs, Taxes and Insurance.  After verification, Landlord shall credit any overpayment determined by the audit report against the next Rent due and owing by Tenant or, if no further Rent is due, refund such overpayment directly to Tenant within thirty (30) days of determination.  Likewise, Tenant shall pay Landlord any underpayment determined by the audit report within thirty (30) days of determination.  The foregoing obligations shall survive the expiration or earlier termination of the Lease.  If Tenant does not give written notice of its election to audit during the Audit Election Period, Landlord’s Operating Costs, Taxes and Insurance for the applicable calendar year shall be deemed approved for all purposes, and Tenant shall have no further right to review or contest the same.  If the audit proves that Landlord's calculation of Operating Costs, Taxes and Insurance for the calendar year under inspection was overstated by more than five percent (5%) in the aggregate, then, after verification, Landlord shall pay Tenant's actual reasonable out-of-pocket audit and inspection fees applicable to the review of said calendar year statement within thirty (30) days after receipt of Tenant's invoice therefor.

3.    Taxes.  Tenant shall also pay Tenant’s Proportionate Share of Taxes for each year and partial year falling within the Term.  Tenant shall pay Tenant’s Proportionate Share of Taxes in the same manner as provided above for Tenant’s Proportionate Share of Operating Costs.  “Taxes” shall mean taxes, assessments, and governmental charges or fees whether federal, state, county or municipal, and whether they be by taxing districts or authorities presently taxing or by others, subsequently created or otherwise, and any other taxes and assessments (including non-governmental assessments for common charges under a restrictive covenant or other private agreement that are not treated as part of Operating Costs) now or hereafter attributable to the Project or Complex, as applicable (or its operation), excluding, however, (1) penalties and interest thereon; (2) any excess profits tax (based on the profit landlord makes from the Building through rent an other charges), franchise tax (imposed on Landlord allowing the entity to do business), gift tax (imposed on landlord as a gift giver), capital stock taxes, inheritance or succession tax (based on inherited assets), estate taxes, federal and state taxes on income, and other taxes to the extent applicable to Landlord’s general or net income, but not excluding business license fees (if the present method of taxation changes so that in lieu of or in addition to the whole or any part of any Taxes, there is levied on Landlord a capital tax directly on the rents received therefrom or a franchise tax, assessment, or charge based, in whole or in part, upon such rents for the Project or Complex, as applicable, then all such taxes, assessments, or charges, or the part thereof so based, shall be deemed to be included within the term “Taxes” for purposes hereof); (3) real estate taxes allocable to the tenant improvements of Tenant or other tenants or occupants in the Building or Common Area which are over and above the Landlord’s standard tenant improvement allowance; (4) capital gains taxes, and (5) payroll taxes.  Taxes shall include the costs of consultants retained in an effort to lower taxes and all costs incurred in disputing any taxes or in seeking to lower the tax valuation of the Project.  For property tax purposes, to the extent allowed by Law, Tenant waives all rights to protest or appeal the appraised value of the Premises, as well as the Project and Complex, and all rights to receive notices of reappraisement.

4.    Insurance.  Tenant shall pay its Proportionate Share of Insurance for each year and partial year falling within the Term.  Tenant shall pay its Proportionate Share of Insurance in the same manner as provided above for Tenant’s Proportionate Share of Operating Costs.  “Insurance” shall mean property, liability and other insurance coverages carried by Landlord, including without limitation deductibles and risk retention programs and an allocation of a portion of the cost of blanket insurance policies maintained by Landlord and/or its Affiliates with respect to the Project.
5.    Operating Costs and Tax and Insurance Statement.  By May 1 of each calendar year, or as soon thereafter as reasonably practicable, Landlord shall furnish to Tenant a statement of Operating Costs for the previous year, adjusted as provided in Section 6 of this Exhibit, and of the Taxes and Insurance for the previous year (the “Operating Costs, Tax and Insurance Statement”).  If Tenant’s estimated payments of Operating Costs or Taxes or Insurance under this Exhibit C for the year covered by the Operating Costs, Tax and Insurance Statement exceed Tenant’s share of such items as indicated in the Operating Costs, Tax and Insurance Statement, then Landlord shall promptly credit or reimburse Tenant for such excess; likewise, if Tenant’s estimated payments of Operating Costs, Taxes or Insurance under this Exhibit C for such year are less than Tenant’s share of such items as indicated in the Operating Costs, Tax and Insurance Statement, then Tenant shall promptly pay Landlord such deficiency, notwithstanding that the Term has expired and Tenant has vacated the Premises.  
6.    Gross-Up.  With respect to any calendar year or partial calendar year in which the Building or Complex, as applicable, is not occupied to the extent of one hundred percent (100%) of the rentable area thereof, or Landlord is not supplying services to one hundred percent (100%) of the rentable area thereof, the Operating Costs for such period shall, for the purposes hereof, be increased to the amount which would have been incurred had the Building or Complex, as applicable, been occupied to the extent of one hundred percent (100%) of the rentable area thereof and Landlord had been supplying services to one hundred percent (100%) of the rentable area thereof.

EXHIBIT D
TENANT FINISH-WORK: ALLOWANCE 
(Tenant Performs the Work)
1.    Acceptance of Premises.  Except as set forth in this Exhibit, Tenant accepts the Premises in their “AS-IS” condition on the date that this Lease is entered into.  Landlord shall be responsible for all non-compliant code violations for base building and adjacent tenant spaces that impact Tenant for obtaining a permit for construction inspections or a certificate of occupancy.
2.    Space Plans.
(a)    Preparation and Delivery.  Tenant acknowledges that Tenant has met with Hendrick, Inc. (the “Architect”) to discuss the nature and extent of all improvements that Tenant proposes to install in the Premises and, at such meeting, provided the Architect with all necessary data and information needed by the Architect to prepare initial space plans.  Landlord has delivered to Tenant a space plan prepared by the Architect depicting improvements to be installed in the Premises (the “Space Plans”).
(c)    Test-Fit.    Landlord has previously had a test-fit for the Premises prepared by the Architect for a fee of $.12 per square feet, which amount will be paid  by the Landlord  outside of the Construction Allowance.
3.    Working Drawings.
(a)    Preparation and Delivery.  On or before the date which is sixty (60) days following the date on which the Space Plans are approved by Tenant and Landlord, Tenant shall cause to be prepared final working drawings of all improvements to be installed in the Premises and deliver the same to Landlord for its review and approval (which approval shall not be unreasonably withheld, delayed or conditioned).  Such working drawings shall be prepared by Hendrick, Inc., or another independent design consultant selected by Tenant (whose fee shall be included in the Total Construction Costs [defined below]).
(b)    Approval Process. Landlord shall notify Tenant, in writing, whether it approves of the submitted working drawings within five (5) Business Days after Tenant’s submission thereof.  If Landlord disapproves of such working drawings, then Landlord shall notify Tenant thereof specifying in reasonable detail the reasons for such disapproval, in which case Tenant shall, within five (5) Business Days after such notice, revise such working drawings in accordance with Landlord’s objections and submit the revised working drawings to Landlord for its review and approval.  Landlord shall notify Tenant in writing whether it approves of the resubmitted working drawings within two (2) Business Days after its receipt thereof.  This process shall be repeated until the working drawings have been finally approved by Landlord and Tenant.  If Landlord fails to notify Tenant that it disapproves of the initial working drawings within five (5) Business Days (or, in the case of resubmitted working drawings, within two (2) Business Days) after the submission thereof, then Landlord shall be deemed to have approved the working drawings in question.  
(c)    Landlord’s Approval; Performance of Work.  If any of Tenant’s proposed construction work will affect the Building’s Structure or any of the Building’s Systems, then the working drawings pertaining thereto must be approved by Landlord.  Landlord’s approval of such working drawings shall not be unreasonably withheld, conditioned or delayed, provided that (1) they comply with all Laws, (2) the improvements depicted thereon do not adversely affect (in the reasonable discretion of Landlord) the Building’s Structure or the Building’s Systems (including the Building’s restrooms or mechanical rooms), the exterior appearance of the Building, or the appearance of the Building’s Common Areas or elevator lobby areas (if any), (3) such working drawings are sufficiently detailed to allow construction of the improvements in a good and workmanlike manner, and (4) the improvements depicted thereon conform to the rules and regulations promulgated from time to time by Landlord for the construction of tenant improvements (a copy of which has been delivered to Tenant).  As used herein, “Working Drawings” shall mean the final working drawings approved by Landlord and Tenant, as amended from time to time by any approved changes 

thereto, and “Work” shall mean all improvements to be constructed in accordance with and as indicated on the Working Drawings, together with any work required by governmental authorities to be made to other areas of the Building as a result of the improvements indicated by the Working Drawings.  Landlord’s approval of the Working Drawings shall not be a representation or warranty of Landlord that such drawings are adequate for any use or comply with any Law, but shall merely be the consent of Landlord thereto.  Tenant shall, at Landlord’s request, sign the Working Drawings to evidence its review and approval thereof.  After the Working Drawings have been approved, Tenant shall cause the Work to be performed in substantial accordance with the Working Drawings. 
4.    Bidding of Work.  Prior to commencing the Work, Tenant shall competitively bid the Work to four (4) independent contractors each approved by both Tenant and Landlord. Contractor list shall include the Leapley Construction, KR Witwer, CA South and Structor Group. 
5.    Definitions.  As used herein, a “Landlord Delay Day” shall mean each day of delay in the performance of the Work that occurs as a result of (a) Landlord’s failure to timely deliver or approve any required documentation such as the Space Plans or Working Drawings, (b) Landlord’s failure to timely furnish any information or deliver or approve any required documents such as the Space Plans, Working Drawings (whether preliminary, interim revisions or final) (c) Landlord’s failure, on more than one (1) occasion, to have an authorized representative (that may change from time to time) attend any meeting with Tenant, the Architect, any design professional, or any contractor, or their respective employees or representatives, as may be required or scheduled hereunder or otherwise necessary in connection with the preparation or completion of any construction documents, such as the Space Plans, Working Drawings, or in connection with the performance of the Work, provided Landlord is notified at least forty-eight (48) hours in advance of meeting. Any Landlord Delay Day that delays Tenant’s commencement shall result in day for day abatement of rent until such time as Tenant is able to commence the Lease. As used herein “Substantial Completion,” “Substantially Completed,” and any derivations thereof mean the Work in the Premises has been performed in substantial accordance with the Working Drawings (other than any details of construction, mechanical adjustment or other similar matter, the non-completion of which does not materially interfere with Tenant’s use or occupancy of the Premises) and Tenant has received a temporary certificate of occupancy or a certificate of occupancy.
6.    Excess Costs.  The entire cost of performing the Work (including design and engineering of the Work and preparation of the Working Drawings, costs of construction labor and materials, including, but not limited to voice and data cabling, security and audio visual, general tenant signage and the construction supervision fee referenced in Section 8 of this Exhibit, all of which costs are herein collectively called the “Total Construction Costs”) in excess of the Construction Allowance (hereinafter defined) shall be paid by Tenant.  Upon approval of the Working Drawings and selection of a contractor, Tenant shall, no later than two (2) Business Days thereafter, (a) execute a work order agreement prepared by Landlord which identifies such drawings and itemizes the Total Construction Costs and sets forth the Construction Allowance, and (b) pay to Landlord fifty percent (50%) of the amount by which Total Construction Costs exceed the Construction Allowance.  Upon Substantial Completion of the Work, Tenant shall pay to Landlord, within thirty (30) days of receipt of an invoice, an amount equal to the Total Construction Costs (as adjusted for any approved changes to the Work), less (1) the amount of the advance payment already made by Tenant, and (2) the amount of the Construction Allowance.  In the event of default of payment of such excess costs, Landlord (in addition to all other remedies) shall have the same rights as for an Event of Default under the Lease.
7.    Construction Allowance; Moving Allowance.  Landlord shall provide to Tenant a construction allowance not to exceed $35.00 per rentable square foot in the Premises (the “Construction Allowance”) to be applied toward the Total Construction Costs, as adjusted for any changes to the Work.  The Construction Allowance shall not be disbursed to Tenant in cash, but shall be applied by Landlord to the payment of the Total Construction Costs, if, as, and when the cost of the Work is actually incurred and paid by Landlord.  The Construction Allowance must be used within twelve (12) months following the Commencement Date or shall be deemed forfeited with no further obligation by Landlord with respect thereto, unless otherwise agreed to in writing by Landlord and Tenant. In addition, any unused balance of the Construction Allowance up to $5.00 per rentable square foot of the Premises (the “Moving Allowance”) may be used towards any and all reasonable relocation costs to the Premises (including costs and/or purchase of moving, cabling, wiring, furniture, equipment, telephony, project management, related consultants/vendors and other office installations).  The Construction Allowance, Moving Allowance or the applicable portions thereof shall be paid by 

Landlord to Tenant or to Tenant’s vendors or contractors within thirty (30) days of Landlord’s receipt of the invoices.  10.    
8.     Construction Management.  Tenant or its Affiliate or agent shall supervise the Work and manage the construction contract.  Upon receipt of invoices from Tenant or its Affiliate or agent, Landlord shall make disbursements required to be made to the contractor. Landlord’s Representative or designated agent will act as a liaison between the contractor and Tenant or its Affiliate or agent and coordinate the relationship between the Work, the Building and the Building’s Systems.  In consideration for Landlord’s construction supervision services, Tenant shall pay to Landlord a construction supervision fee equal to one and one-half percent (1.5%) of the General Construction Contract Sum (excluding the construction supervision and consultant fee).
9.    Construction Representatives.  Landlord’s and Tenant’s representatives for coordination of construction and approval of change orders will be as follows, provided that either party may change its representative upon written notice to the other:
		
	Landlord’s Representative:
	Traci Tomas, Vice President

Peachtree II and III, LLC
C/O Continental Property Group
1907 Wayzata Blvd, Suite 250
Wayzata, MN 55391
Telephone: 952-473-1700
Telecopy: 952-473-2700
Email: ttomas@leasespace.com 

		
	Tenant’s Representative:
	 
     
    

		
	 
c/o
	 
     
     
Telephone:     
Telecopy:    

13.    Miscellaneous.  To the extent not inconsistent with this Exhibit, Sections 7(a) and 20 of this Lease shall govern the performance of the Work and Landlord’s and Tenant’s respective rights and obligations regarding the improvements installed pursuant thereto.

EXHIBIT E
BUILDING RULES AND REGULATIONS
The following rules and regulations shall apply to the Premises, the Building, the parking garage associated therewith, and the appurtenances thereto:
		
	1.
	Smoking is prohibited in the Premises, the main lobby, public corridors, elevators and elevator lobbies, stairwells, restrooms, and other common areas within the Building.

		
	2.
	Landlord reserves the right to close and keep locked all entrance and exit doors of the Building during the hours which are not Normal Business Hours.  When departing after the Building’s Normal Business Hours, Tenant and its employees, agents, and invitees must ensure that the doors to the Building and the Premises are securely closed and locked.  Requests to the Landlord, for access to the Building or any part thereof when it is locked, may be refused unless the person seeking access has arranged in advance for access or admission into the Building or any part thereof.  Landlord and its agents shall not be liable for damages for any error concerning the admission to, or the exclusion from, the Building of any person.  

		
	3.
	Landlord agrees to furnish Tenant two keys for each keyed door located within the Premises without charge.  If the Building entrance and/or the primary entrance to the Premises is accessed with either a pass key or key card, Landlord agrees to furnish Tenant two pass keys or key cards, as the case may be, per 1,000 square feet of leased space.  Any additional pass keys or key cards required by Tenant must be obtained from Landlord at a reasonable cost to be established by Landlord.  Tenant shall not alter any lock or install any new or additional locks or bolts on any doors or windows of the Premises without obtaining Landlord’s prior written consent, which consent Landlord shall not unreasonably withhold, condition or delay.  All keys and key cards to Premises shall be surrendered to Landlord upon termination of this Lease.

		
	4.
	All contractors and installation technicians shall comply with Landlord’s rules and regulations pertaining to construction and installation.  This provision shall apply to all work performed on or about the Premises, Building, Project or Complex, including installation of telephones, computer wiring, electrical devices and attachments, and installations of any nature affecting floors, walls, woodwork, trim, windows, ceilings, and equipment, or any other physical portion of the Premises,  Building, Project or Complex.

		
	5.
	No signaling or telephonic devices, including antennae and satellite dishes, or other wires, cabling and instruments or devices shall be installed on the exterior walls of the Premises, Building, Project or Complex without the prior written consent of Landlord, which consent Landlord shall not unreasonably withhold, condition or delay.  No advertising banners or balloons or any other items which require fastening to the exterior walls of the Premises, Building, Project or Complex are permitted without the prior written consent of Landlord, which consent Landlord shall not unreasonably withhold, condition or delay.   Mechanical equipment, utility meters, and/or storage tanks will not be placed in or on the Premises, 

Building, Project or Complex without Landlord’s prior written approval, which approval Landlord shall not unreasonably withhold, condition or delay. 

		
	6.
	Tenant shall not overload the floor of the Premises; safes and other heavy articles shall be placed by Tenant only in such manner and location as may be specified in writing by Landlord, and any damage done to the Building or Premises from overloading a floor, or injury to persons in moving safes or other heavy articles in or out of the Building or Premises, shall be paid for by Tenant.

		
	7.
	No furniture, freight, or equipment of any kind, other than those delivered by messenger and express type services, may be brought into or out of the Building without prior notice to, and consent from, the Landlord, which consent Landlord shall not unreasonably withhold, condition or delay.  All moving activity into or out of the Building must be scheduled with the Landlord and done only in the manner, and restricted to the hours, reasonably designated by Landlord.  All such movement shall be under supervision of Landlord and carried out in a manner that shall comply with Landlord’s rules and regulations.  Tenant assumes, and shall indemnify Landlord against all loss, liability, cost, expense, risk or claim of damage or injury to persons and properties arising in connection with any said movement.  All hand trucks used in the Building must be equipped with rubber tires and side guards.  The only elevator on which heavy and/or large deliveries can be utilized is the freight elevator.  If the Building does not provide a freight elevator, passenger elevators may be used with Landlord’s approval, and given at least 24 hours’ notice so that proper protection can be put in place. 

		
	8.
	Tenant shall not use any method of heating or air-conditioning, other than that supplied by Landlord, without Landlord’s prior written consent, which consent Landlord shall not unreasonably withhold, condition or delay.  Space heaters are an electrical fire hazard and are not to be used in Tenant’s Premises. 

		
	9.
	No cooking shall be done or permitted on the Premises, except that Underwriters’ Laboratory (UL)-approved equipment and microwave ovens may be used in the Premises for heating food and brewing coffee, tea, hot chocolate, and similar beverages for employees and visitors.  This use must be in accordance with all applicable federal, state, and city laws, ordinances, rules, and regulations.  Tenant shall not use outdoor grills or cooking equipment, nor place picnic tables, tents, sports equipment, etc. in or about the Premises, without the prior written approval from Landlord. 

		
	10.
	Tenant shall not, at any time, occupy any part of the Premises, the Building, or the Property as sleeping or lodging quarters.

		
	11.
	No dogs, cats, fowl or other animals shall be brought into, or kept in or about the Premises, the Building, or the Property, except for those animals utilized to assist any persons with disabilities.  Landlord should be notified in advance, and in writing, if any such animals will be utilized on a regular basis.

		
	12.
	Tenant and its employees and invitees, shall not disturb occupants of the Building or the Property by the use of any radios, tape or CD players, or other musical instruments, or the making of objectionable noises.  The location of office parties and functions shall be restricted to the Premises.  Catering services shall use the service entrance and the service elevator for deliveries.

		
	13.
	All canvassing, soliciting, and peddling in or about the Premises, the Building, or the Property is prohibited.  Tenant, Tenant’s employees, and Tenant’s agents shall not loiter in or on the entrances, corridors, sidewalks, lobbies, halls, stairways, elevators, or common areas, or disturb, solicit, or canvas any occupant of the Premises, the Building, or the Property.  Landlord reserves the right to exclude or expel from the Property any person who, in Landlord’s reasonable judgment, is under the influence of alcohol or drugs, or commits any act in violation of any of these Rules and Regulations.

		
	14.
	The restrooms, urinals, wash bowls, and other apparatus shall not be used for any purpose including, without limitation, drug testing, other than that for which they were constructed, and no foreign substance of any kind shall be thrown or poured into them.  The expense of any breakage, stoppage, or damage resulting from violation of this rule shall be borne by the tenant who caused, or whose employees, agents, contractors, invitees, or licensees caused the breakage, stoppage, or damage.

		
	15.
	None of the parking, plaza, recreation, or lawn areas, entries, passages, doors, elevators, hallways, or stairways shall be blocked or obstructed; nor shall any rubbish, litter, trash or material of any nature be placed, emptied or thrown into these areas; nor shall these areas be used by Tenant’s agents, employees, and/or invitees at any time for purposes which are inconsistent with their designation by Landlord.   

		
	16.
	No signs of any type or description shall be erected, placed, or painted in or about the doors and windows, the building, or the grounds of the Project or Complex or right-of-way of which the Premises are a part except those signs submitted to Landlord in writing and approved by Landlord in writing, which approval Landlord shall not unreasonably withhold, condition or delay, and which signs are in conformance with the any protective covenants applicable to the project of which the Building is a part.  No covers or awnings over or outside of the windows nor draperies or coverings hung inside the windows will be permitted without Landlord’s prior written approval. 

		
	17.
	Tenant and its employees, agents, and invitees shall park their vehicles only in those parking areas designated by Landlord and entirely within the lines.  All directional signs, arrows, and posted speed limits must be observed.  Bicycles, motorcycles or other mobile devices shall not be allowed or placed anywhere on the Property or in the Building, except within those areas so designated.   Parking is prohibited in areas not striped for parking, in aisles where “No Parking” signs are posted, on ramps, in crosshatched areas, and in other areas as may be designated by Landlord. 

		
	18.
	Tenant and its employees, agents, and invitees shall not leave any vehicle in a state of disrepair, including, without limitation, flat tires, oil or damaging fluid leaks, out-of-date inspection stickers or license plates, on the Property.  If Tenant or its employees, agents or invitees park their vehicles in areas other than the designated parking areas or leave any vehicle in a state of disrepair, Landlord, after ticketing the vehicle in violation, shall have the right to remove such vehicle at its owner’s expense.  No vehicle maintenance will be done on the Property without the prior written consent of Landlord, which may be withheld in its sole discretion.

		
	19.
	Tenant and its employees, agents, and invitees shall park their vehicles in compliance with all parking rules and regulations, including any sticker or other identification system established by Landlord.  Parking stickers or other forms of identification supplied by Landlord shall remain the property of Landlord and are not transferable.  Vehicles should be kept locked; any damage to vehicles or persons is assumed by the vehicle’s owner or its driver.

		
	20.
	Employees of Landlord shall not be responsible to carry messages from or to Tenant.   Nor shall employees of Landlord contract with, or render free or paid service to any Tenant or to any of Tenant’s agents, employees, or invitees which service is not covered in this Lease, without prior written notice to Landlord, which consent Landlord shall not unreasonably withhold, condition or delay.

		
	21.
	Tenant shall comply with all safety, fire protection, and evacuation procedures and regulations established by Landlord or by any government agency.  All Christmas trees placed in the Tenant’s Premises must be fire-resistant artificial trees.  Any lighting attached to trees or decorations must be UL approved and designated for the purpose being used.  Installation of any decorations that could be deemed potential fire hazards requires the prior written approval of Landlord, which approval Landlord shall not unreasonably withhold, condition or delay.  Decorations placed outside of Tenant’s Premises shall also require the prior approval of Landlord.

		
	22.
	No firearms are permitted in the Building, except firearms carried by licensed Federal, State of Georgia or local personnel while on duty.

		
	23.
	Landlord reserves the right at any time, with reasonable advance notice to Tenant, to change or rescind any one or more of these Rules and Regulations or to make any additional Rules and Regulations that, in Landlord’s judgment, may be necessary for:

		
	a.
	The management, safety, care, protection, and cleanliness of the Premises, Building, and Property;

		
	b. 
	The operation thereof and the preservation of good order therein; and

		
	c. 
	The protection and comfort of other occupants and tenants and their agents, employees and invitees in the Premises, Building, and Property.  

Landlord may waive any one or more of these Rules and Regulations for the benefit of any particular tenants.  No waiver by Landlord shall be construed as a waiver of those Rules and Regulations in favor of any other tenant, and no waiver shall prevent Landlord from enforcing those rules and Regulations against any other tenant of the Property.  Tenant shall be considered to have read these Rules and Regulations and to have agreed to abide by them as a condition of Tenant’s occupancy of the Premises.

EXHIBIT F
CONFIRMATION OF COMMENCEMENT DATE
______________, 2013
__________________________
__________________________
__________________________
__________________________
Re:    Lease Agreement (the “Lease”) dated _____________, 2012, between Peachtree II and III, L.L.C., a Georgia limited liability company (“Landlord”), and MDA HOLDINGS, INC., a Delaware corporation (“Tenant”).  Capitalized terms used herein but not defined shall be given the meanings assigned to them in the Lease.
Ladies and Gentlemen:
Landlord and Tenant agree as follows:
1.    Condition of Premises.  Tenant has accepted possession of the Premises pursuant to the Lease.  Any improvements required by the terms of the Lease to be made by Landlord have been completed to the full and complete satisfaction of Tenant in all respects except for the punchlist items described on Exhibit A hereto (the “Punchlist Items”), and except for such Punchlist Items and any latent defects to the Work identified in writing by Tenant to Landlord within one (1) year from the Commencement Date, Landlord has fulfilled all of its duties under the Lease with respect to such initial tenant improvements.  Furthermore, Tenant acknowledges that the Premises are suitable for the Permitted Use.
2.    Commencement Date.  The Commencement Date of the Lease is __________, 2013.
3.    Expiration Date.  The Term is scheduled to expire on the last day of the ___ full calendar month of the Term, which date is ______________, 20__.
4.    Contact Person.  Tenant’s contact person in the Premises is:
Attention:     
Telephone:    
Telecopy:    
5.    Ratification.  Tenant hereby ratifies and confirms its obligations under the Lease, and represents and warrants to Landlord that as of the date hereof it has no defenses thereto.  Additionally, Tenant further confirms and ratifies that, as of the date hereof, (a) the Lease is and remains in good standing and in full force and effect, and (b) Tenant has no claims, counterclaims, set-offs or defenses against Landlord arising out of the Lease or in any way relating thereto or arising out of any other transaction between Landlord and Tenant.
6.    Binding Effect; Governing Law.  Except as modified hereby, the Lease shall remain in full effect and this letter shall be binding upon Landlord and Tenant and their respective successors and assigns.  If any inconsistency 

exists or arises between the terms of this letter and the terms of the Lease, the terms of this letter shall prevail.  This letter shall be governed by the laws of the state in which the Premises are located.
Please indicate your agreement to the above matters by signing this letter in the space indicated below and returning an executed original to us.
Sincerely,
Peachtree II and III, L.L.C., a Georgia limited liability company 

 
By:     
Name:     
Title:     
 

Agreed and accepted:
 
MDA HOLDINGS, INC.,
A Delaware corporation

By:     
Name:     
Title:    

EXHIBIT A
PUNCHLIST ITEMS

EXHIBIT G
FORM OF TENANT ESTOPPEL CERTIFICATE
ESTOPPEL CERTIFICATE

This ESTOPPEL CERTIFICATE (the "Agreement") is made and entered into as of this ____ day of March, 2013, by ______________________, a _____________________ ("Lessee"), to and in favor of STATE BANK AND TRUST COMPANY ("Lender").

R E C I T A L S

A.    Lender is now or will be the owner and holder of a certain loan  ("Loan") owing by PEACHTREE II AND LLL LLC, Lessor, which is or will be secured by, among other collateral, a Deed to Secure Debt and Security Agreement dated on or about the date hereof, from Lessor to Lender, (the "Security Deed"), which Security Deed will constitute a first priority lien or encumbrance on that certain real property at 4775 & 4855 Peachtree Industrial Boulevard, Norcross, Georgia 30092, and as more particularly described therein  (the "Property"), and is further secured by that certain Assignment of Leases and Rents dated on or about the date hereof (the "Assignment") from Lessor to Lender.

B.    Lessor has leased a portion of the Property designated as __________________________ to  Lessee, pursuant to the terms of that certain Lease  dated ________________________________, executed by Lessee and Lessor (collectively the "Lease").

C.    Lessee  desires to confirm and certify to Lender certain matters with respect to the Lease.

A G R E E M E N T

1.    Lessee certifies to Lender that:

		
	(a)
	the Lease is presently in full force and effect and has not been modified, amended, extended, supplemented or changed in any way, except as follows: _______________________;

		
	(b)
	the term of the Lease commenced on ______________, ____, full rental is now accruing under the Lease, the term of the Lease expires on ______________, ______, and the Lease contains no options to extend or renew the term thereof except as follows:                       ;

		
	(c)
	all conditions required under the Lease that could have been satisfied as of the date hereof have been met;

		
	(d)
	the current monthly rental payable under the Lease equals $__________ and no rent under the Lease has been paid more than thirty (30) days in advance of its due date;

		
	(e)
	no default exists under the Lease by Landlord or Tenant, nor does any circumstance exist which, with the passage of time or the giving of notice or both, would constitute a default under the Lease by either;

 

		
	(f)
	the Lessee, as of this date, has no charge, lien or claim of offset under the Lease or otherwise, against rents or other charges due or to become due thereunder;

		
	(g)
	the Lease constitutes the entire rental agreement between the parties and that Lender shall have no liability or responsibility with respect to any security deposit of Lessee;

		
	(h)
	the only persons, firms or corporations in possession of said Property or having any right to the possession or use of said Property (other than the record owner) are those holding under the Lease of the Property; and;

		
	(i)
	Lessee has no right or interest in or under any contract, option or agreement involving the sale or transfer of the Property. 

2.    In the absence of the prior written consent of Lender, Lessee shall not do any of the following:  (a) prepay the rent under the Lease for more than one  (1) month in advance; (b) enter into any agreement with the Lessor to amend or modify the Lease; (c) voluntarily surrender the Property or terminate the Lease without cause; or (d) sublease the Property or assign its interest in the Lease. 

3.    This Certificate may not be modified orally or in any other manner than by an agreement in writing signed by the parties hereto and their respective successors in interest.  This Certificate shall inure to the benefit of and be binding upon the parties hereto, their successors and assigns. 

4.    This Certificate may be executed in several counterparts, and all so executed shall constitute one agreement, binding on all parties hereto, notwithstanding that all parties are not signatories to the original or the same counterpart. 

5.      This Certificate is executed by Lessee with full knowledge that it will be relied upon by Lender, its successors and assigns, in connection with the consummation of the Loan.

IN WITNESS WHEREOF, the Lessee has executed this Certificate under seal as of the date and year first above written. 

As to Lessee:                        LESSEE:

Signed, sealed and delivered                ___________________________________  
in the presence of:                             a ______________________

                                                               By:                                                                   
Unofficial Witness                       Name:                               
Its:
                                                                
Notary Public                                                              [CORPORATE SEAL]
                                   
Commission Expiration Date:
                                                

 

     [NOTARIAL SEAL]

EXHIBIT H
RENEWAL OPTION
If no Event of Default exists, and Tenant is occupying the entire Premises at the time of such election, Tenant may renew this Lease for one (1) additional period of five (5) years ( “Renewal Term”), upon the same terms, covenants and conditions of this Lease, except that the Base Rent shall be as determined in accordance with this Exhibit H, by delivering written notice of the exercise thereof to Landlord not earlier than twelve (12) months nor later than nine (9) months before the expiration of the then-existing Term.  The Base Rent payable for each month during such Renewal Term shall be the prevailing rental rate (the “Prevailing Rental Rate”), as of the date immediately after the Fixed Expiration Date, for renewals of space in the Building or Complex, as applicable, of equivalent quality, size, utility and location, with the length of the extended Term and the credit standing of Tenant to be taken into account.  
Within thirty (30) days after receipt of Tenant’s notice to renew, Landlord shall deliver to Tenant written notice of the Prevailing Rental Rate and shall advise Tenant of the required adjustment to Base Rent, if any.  Tenant shall, within ten (10) Business Days after receipt of Landlord’s notice, notify Landlord in writing whether Tenant accepts or rejects Landlord’s determination of the Prevailing Rental Rate.  If Tenant timely notifies Landlord that Tenant accepts Landlord’s determination of the Prevailing Rental Rate, then, on or before the commencement date of the extended Term, Landlord and Tenant shall execute an amendment to this Lease extending the Term on the same terms provided in this Lease, except as follows:
(a)    Base Rent, escalator, tenant allowance, free rent and other concessions shall be adjusted to the Prevailing Rental Rate; and
(b)    Tenant shall have no further renewal option unless expressly granted by Landlord in writing. 
If Tenant rejects in writing the Prevailing Rental Rate proposed by Landlord, Landlord and Tenant shall negotiate in good faith for a period of fifteen (15) days to reach a mutual agreement on the Prevailing Rental Rate.  If the parties are unable to come to an agreement within such period, the parties shall arbitrate such rate.

Tenant shall specify in such notice its selection of a real estate broker, who shall act on Tenant’s behalf in determining the Prevailing Rental Rate.  Within fifteen (15) days after Landlord’s receipt of Tenant’s selection of a real estate broker, Landlord, by written notice to Tenant shall designate a real estate broker, who shall act on Landlord’s behalf in the determination of the Prevailing Rental Rate.  Within fifteen (15) days of the selection of Landlord’s broker, the two brokers shall select a third broker meeting the qualifications stated below.  Each of the parties shall bear one-half (1/2) of the cost of the appointment of the third broker and of the third broker’s fee.  If the three (3) brokers are unable to agree upon the Prevailing Rental Rate  within the fifteen (15) days following the appointment of the third broker, then each broker shall separately determine the Prevailing Rental Rate, they shall average the two (2) closest figures, and within three (3) days after the expiration of such fifteen (15) day period, the appointed third broker shall notify Landlord and Tenant of such averaged determination of the Prevailing Rental Rate, which averaged determination shall be binding upon both Landlord and Tenant.  In the event that one of the three appraisal Prevailing Rental Rates is equidistant between the highest and the lowest, then notwithstanding the foregoing sentence, there shall be no averaging, and the equidistant Prevailing Rental Rate shall be the final arbitrated rate.  In the event that the appraisal process has not been completed prior to the commencement of the Extension Term, then upon commencement of the Extension Term, and until the process is completed (the “Interim Period”), Tenant shall pay Landlord monthly Base Rent equal to the Base Rent for the immediately preceding Lease year, until the increase in the Base Rent is determined by such process as provided herein; provided, however, that such payments made during the Interim Period shall be subject to adjustment based upon the results of such process.  If, as a result of such appraisal process, it is determined that Tenant has underpaid Base Rent during the Interim Period, then such underpaid Base Rent shall be due from Tenant to Landlord within ten (10) days after expiration of the Interim Period. All brokers selected in accordance with this Exhibit H must be licensed in the State of Georgia as a real estate broker and shall have at least ten (10) years prior 

 

experience in commercial office leasing in the Technology Park/Atlanta or Peachtree Corners market area.  If either Landlord or Tenant fails or refuses to select a broker, the other broker shall alone determine the Prevailing Rental Rate.  Landlord and Tenant agree that they shall be bound by the determination of Prevailing Rental Rate pursuant to this subparagraph for the Extension Term.  Landlord shall bear the fee and expenses of its broker and Tenant shall bear the fee and expenses of its broker.

Promptly after the Prevailing Rental Rent has been determined, Landlord and Tenant shall execute, acknowledge and deliver an agreement setting forth the Base Rent for the Renewal Term, as finally determined, provided that the failure of the parties to do so shall not affect their respective rights and obligations hereunder.

Tenant’s rights under this Exhibit shall terminate if (1) this Lease or Tenant’s right to possession of the Premises is terminated, (2) Tenant assigns any of its interest in this Lease or sublets any portion of the Premises, or (3) Tenant fails to timely exercise its option under this Exhibit, time being of the essence with respect to Tenant’s exercise thereof.

 

EXHIBIT I
RIGHT OF FIRST REFUSAL
1.Subject to then-existing renewal or expansion options of other tenants (or, even if not a right under such tenant’s lease, the renewal of a lease of any tenant by Landlord for the Refusal Space (hereinafter defined)) (“Prior Rights”), and so long as Tenant is then in occupancy of the entirety of the Premises, Landlord grants to Tenant the right (the “Refusal Right”) to lease the Refusal Space, as hereinafter defined, at any time during the Term, on and subject to the following terms and conditions.
(a)The “Refusal Space” shall mean the contiguous adjacent up to 5,000  rentable square feet of space as shown on Exhibit I-1 attached hereto that is the subject of a Third Party Offer, as defined below.

(b)Should Landlord receive from a prospective third party tenant a bona fide  offer to lease the Refusal Space or any premises within the Building containing all or a portion of the Refusal Space that Landlord is willing to accept or should Landlord give a prospective tenant an offer to lease the Refusal Space or any premises within the Building containing all or a portion of the Refusal Space, which offer Landlord anticipates the prospective tenant will accept (the “Third Party Offer”), Landlord agrees promptly to so notify Tenant in writing of the relevant terms of the Third Party Offer.  If the Third Party Offer contains space in addition to the Refusal Space, if Tenant accepts the Third Party Offer, it shall be required to lease all of the space that is the subject of the Third Party Offer.  Tenant shall have a period of five (5) business days after Tenant’s receipt of the notice within which to exercise the Refusal Right (the “Acceptance Period”) by delivery to Landlord of written notice of its exercise on or before the last day of the Acceptance Period.  If Tenant fails to duly and timely exercise the Refusal Right, or elects not to exercise the Refusal Right, the same shall lapse, and be of no further force and effect, and Landlord shall be free to lease the Refusal Space.

(c)Within five (5) Business Days after the effective date of Tenant’s exercise of the Refusal Right, Landlord and Tenant shall enter into an amendment to this Lease adding the Refusal Space to the Premises, which amendment shall subject the Refusal Space or any premises within the Building containing all or a portion of the Refusal Space, which is contained in the Third Party Offer, to the Third Party Offer terms. The commencement date of Tenant’s lease of the Refusal Space will commence upon Substantial Completion of any improvements to the Refusal Space.    

(d)If Tenant fails to or elects not to exercise the Refusal Right and the third party submitting the Third Party Offer does not lease the Refusal Space, the Refusal Space shall again become subject to the Refusal Right herein contained as to any subsequent Third Party Offer submitted to Landlord.

(e)Tenant’s rights under this Exhibit shall terminate if (i) this Lease or Tenant’s right to possession of the Premises is terminated, (ii) Tenant assigns any of its interest in this Lease 

or sublets any portion of the Premises, or (iii) less than three (3) full calendar years remain in the Initial Term of this Lease.  

EXHIBIT I-1
REFUSAL SPACE

EXHIBIT J
RIGHT OF FIRST OFFER
Intentionally Deleted

J- J-1

EXHIBIT K

RENT ABATEMENT PROVISIONS
Base Rent shall be conditionally completely abated during the first two (2) months of the Term commencing upon the Commencement Date and Tenant shall only be required to pay half of the monthly base rental during following twelve (12) months (collectively, the “Base Rent Abatement”).  Notwithstanding such abatement of Base Rent (a) all other sums due under the Lease, including Additional Rent shall be payable as provided in the Lease, and (b) any increases in Base Rent set forth in the Lease shall occur on the dates scheduled therefore.

K-1

EXHIBIT L
FORM OF SNDA
SUBORDINATION, NON-DISTURBANCE
AND ATTORNMENT AGREEMENT

THIS AGREEMENT made this __ day of March, 2013, by and among STATE BANK AND TRUST COMPANY (hereinafter referred to as “Lender”) and PEACHTREE II AND III LLC (hereinafter referred to as “Landlord”), and ___________________________________ (hereinafter referred to as “Tenant”);

W I T N E S S E T H:

WHEREAS, Tenant and Landlord’s predecessor have entered into a certain lease agreement dated __________________ (hereinafter referred to as the “Lease”), with respect to a portion of the premises described in Exhibit “A” attached hereto and by this reference made a part hereof (such leased premises, as more particularly described in the Lease, is herein referred to as the “Premises”); and

WHEREAS, Landlord has requested and Lender has agreed to make a loan to Landlord in the original principal amount of $__________________ (the “Loan”), which Loan shall be secured in part by a Deed to Secure Debt and Security Agreement encumbering said property described in Exhibit ”A” (the “Security Instrument”); and

WHEREAS, as a material inducement to Lender to enter into the Loan, Tenant agrees and confirms that the Lease is and shall remain subject and subordinate to the Security Instrument, provided Tenant is assured of continued occupancy of the Premises under the terms of the Lease;

NOW, THEREFORE, for and in consideration of the mutual covenants herein contained, the sum of Ten Dollars ($10.00) and other good valuable considerations, the receipt and sufficiency of which are hereby acknowledged, and notwithstanding anything in the Lease to the contrary, it is hereby agreed as follows:

1. Lender, Tenant and Landlord do hereby covenant and agree that the Lease with all rights, options, liens and charges created thereby, is and shall continue to be subject and subordinate in all respects to the Security Instrument and to any advancements made thereunder and to any renewals, modifications, consolidations, replacements and extensions thereof, including any increases therein or supplements thereof.2.Lender does hereby agree with Tenant that, so long 

as Tenant complies with and performs its obligations under the Lease, (a) Lender will take no action which will interfere with or disturb the right of Tenant to the use, possession and enjoyment of the Premises in accordance with the Lease, and (b) in the event Lender or any other purchaser becomes the owner of the Premises by foreclosure, conveyance in lieu of foreclosure or otherwise, the Premises shall be subject to the Lease and Lender or such other purchaser shall recognize Tenant as the tenant of the Premises for the remainder of the term of the Lease in accordance with the provisions thereof, provided, however, that Lender or such other purchaser shall not be liable for any act or omission of any prior landlord (including Landlord), or subject to any offsets, counterclaims or defenses which Tenant might have against any prior landlord, or required to construct any improvements which were required to be constructed by any prior landlord, nor shall Lender or such other purchaser be bound by any rent or additional rent which Tenant might have paid for more than the current month to any prior landlord or be liable for the return of any security deposit theretofore paid by Tenant, nor shall Lender or such other purchaser be bound by any amendment or modification of the Lease made without Lender’s consent.

3.Tenant does hereby agree with Lender that, in the event Lender or another purchaser becomes the owner of the Premises by foreclosure, conveyance in lieu of foreclosure or otherwise, then Tenant shall attorn to and recognize Lender or such other purchaser as the landlord under the Lease for the remainder of the term thereof, and Tenant shall perform and observe its obligations thereunder.  Tenant further covenants and agrees to execute and deliver upon request of Lender, or its assigns, an appropriate agreement of attornment to any subsequent titleholder of the Premises.

4.So long as the Security Instrument remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in the manner hereinbelow provided, a copy of all notices permitted or required to be given to the landlord by Tenant under and pursuant to the terms and provisions of the Lease.  At any time before the rights of the landlord shall have been forfeited or adversely affected because of any default of the landlord, or within the time permitted the landlord for curing any default under the Lease as therein provided (but not less than sixty (60) days from the receipt of notice), Lender may, but shall have no obligation to, pay any taxes and assessments, make any repairs and improvements, make any deposits or do any other act or thing required of the landlord by the terms of the Lease; and all payments so made and all things so done and performed by Lender shall be as effective to prevent the rights of the landlord from being forfeited or adversely affected because of any default under the Lease as the same would have been if done and performed by the landlord.

5.Tenant acknowledges that Landlord has executed and delivered to Lender an assignment of the Lease as security for its loans, and Tenant hereby expressly consents to such assignment.

6.Tenant agrees that there shall be no further subordination of the interest of the Tenant under the Lease to any other lender or to any other party without first obtaining the prior written consent of Lender.  Any attempt to effect a further subordination of Tenant’s 

interest under the Lease without first obtaining the prior written consent of Lender shall be null and void.

7.Landlord and Tenant hereby certify to Lender that the Lease has been duly executed by Landlord and Tenant and is in full force and effect; that the Lease and any modifications and amendments specified herein are a complete statement of the agreement between Landlord and Tenant with respect to the leasing of the Premises, and the Lease has not been modified or amended except as specified herein; that to the knowledge of Landlord and Tenant, no party to the Lease is in default thereunder; that no rent under the Lease has been paid more than thirty (30) days in advance of its due date; and that Tenant, as of this date, has no charge, lien or claim of offset under the Lease, or otherwise, against the rents or other charges due or to become due thereunder.

8.Any and all notices, elections, demands, requests and responses thereto permitted or required to be given under this Agreement shall be in writing, signed by or on behalf of the party giving the same, and shall be deemed to have been properly given and shall be effective upon being personally delivered, or upon being deposited in the United States mail, postage prepaid, certified with return receipt requested, to the other party at the address within the continental United States as such other party may designate by notice specifically designated as a notice of change of address and given in accordance herewith; provided, however, that the time period in which a response to any such notice, election, demand or request must be given shall commence on the date of receipt thereof; and provided further no notice of change of address shall be effective until the date of receipt thereof.  Personal delivery to a party or to any officer, partner, agent or employee of such party at said address shall constitute receipt.  Rejection or other refusal to accept or inability to deliver because of changed address of which no notice has been received shall also constitute receipt.  Any such notice, election, demand, request or response, if given to Lender, shall be addressed as follows:

STATE BANK AND TRUST COMPANY
415 East Paces Ferry Rd.
Atlanta, GA 30305
Attn:  Mr. Blake Snyder

and, if given to Tenant, shall be addressed as follows:

______________
______________
______________

and, if given to Landlord, shall be addressed as follows:

PEACHTREE II AND III LLC
c/o Continental Property Group

1907 Wayzata Boulevard, Suite 250
Wayzata, MN 55391

9.    Should Lender become the owner of the Premises or any portion thereof and thereafter there shall be a breach of the obligations of the landlord under the Lease, notwithstanding anything in the Lease to the contrary, Lender shall have no personal liability with respect thereto and Tenant shall look solely to Lender’s interest in the Premises or any portion thereof for satisfaction of any liability that Lender may have to Tenant as a result of such breach.

10.This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors, successors-in-title and assigns.  When used herein, the term “landlord” refers to Landlord and to any successor to the interest of Landlord under the Lease.

11.The certifications and agreements contained herein are made by Tenant with the knowledge that the Lender would not enter into the Loan except in reliance upon such certifications and agreements by Tenant.

12.As between Landlord and Tenant, Landlord and Tenant covenant and agree that nothing herein contained nor anything done pursuant to the provisions hereof shall be deemed or construed to modify the Lease.

13.As between Landlord and Lender, Landlord and Lender covenant and agree that nothing herein contained nor anything done pursuant to the provisions hereof shall be deemed or construed to modify the Security Instrument.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement under seal, as of the date first above written.

LENDER:

		
	Signed, sealed and delivered
	STATE BANK AND TRUST COMPANY

in the presence of:

________________________    By:________________________
Unofficial Witness       Name:___________________
Title:__________________
________________________
Notary Public
My Commission Expires:                [BANK SEAL]
_________________________

(NOTARY SEAL)
 [SIGNATURES ON FOLLOWING PAGE]

LANDLORD:

	
		
	Signed, sealed and delivered in the presence of:
______________________
Unofficial Witness

______________________
Notary Public
My Commission Expires:
______________________

(NOTARY SEAL)
	PEACHTREE II AND III LLC

By:  ___________________________(SEAL)
    Name:  
    Title:  

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

TENANT:

Signed, sealed and delivered    ______________________________
in the presence of:
By:_________________________
_________________________        Name:____________________
Unofficial Witness        Title:___________________

_________________________
Notary Public
My Commission Expires:
________________________

(NOTARY SEAL)

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