Document:

EX-10.18

 Exhibit 10.18 
 AGREEMENT FOR SALE AND PURCHASE 
 THIS
AGREEMENT FOR SALE AND PURCHASE (this “Agreement”) is dated as of the 3rd day of August, 2012 (the “Effective Date”), between the parties identified on the attached Schedule 1 (each such party individually, a “Seller” or “Project Owner,” and
collectively “Sellers”), and the parties identified on the attached Schedule 1 (each such party individually a “Purchaser,” and collectively “Purchasers”). 

RECITALS 

A. Each Project Owner is the owner of the property listed in Schedule 1 (each individually a “Property” and collectively, the
“Properties”), which Properties are more particularly described in the attached Exhibit “A”, and all buildings and improvements (the “Improvements”) located on the corresponding Property (the Improvements,
together with the Properties, being hereinafter collectively referred to as the “Projects”). 
 B. Sellers desire to
sell and Purchasers desire to purchase the Projects on the terms and conditions hereinafter set forth. 
 1. Sale of Projects.

 (A) Each Seller agrees to sell, assign and convey to the applicable Purchaser, and each Purchaser agrees to purchase and
assume from the corresponding Seller, the Projects owned by it. 
 (B) The sale and purchase shall include all right, title and
interest of each Seller in and to: 
 (i) All easements, rights-of-way, privileges, appurtenances and other rights pertaining to
the Projects owned by it; 
 (ii) Any land lying in the bed of any street, road or avenue opened or proposed, public or private,
in front of or adjoining the Projects owned by it, and any strips and gores adjoining or adjacent to the Project owned by it; 

(iii) All subsurface oil, gas or other mineral rights, if any, situated beneath the surface of the Projects owned by it, including any
rights of off-site collection or subsurface easements granted or obtained with respect thereto; 
 (iv) All building systems and
equipment and all fixtures owned by Seller and attached or appurtenant to, or located on, and used exclusively in connection with the use or operation of, or used or adapted for use exclusively in connection with the enjoyment or occupancy of, the
Projects owned by it, including all HVAC, fans, ducts, plumbing, electrical systems and lighting poles, but expressly excluding the following items that belong to Seller: trade fixtures, personal property, furniture, inventory, perishables,
restaurant equipment (including without limitation, hibachi-tables, grills, ovens, sinks, vents, etc.) and any items bearing the name, logo, or brand-identifying marks of Seller or any affiliate of Seller, including signs; 

(v) All governmental permits and approvals, certificates of occupancy issued by any federal, state, county or municipal authority,
development rights and entitlements pertaining to the ownership of the Projects owned by it, in each case, to the extent assignable (except for any permits, licenses, or approvals held by Seller, and related to the operation of Seller’s
business, including without limitation, liquor licenses); and 

  
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 (vi) All intangible personal property now or hereafter owned by Seller and used in the
ownership, use or operation of the Projects owned by it, including, without limitation, all architectural and other building plans and warranties, but expressly excluding Seller’s trademarks, trade names and other intellectual property.

 2. Purchase Price. The aggregate purchase price (the “Purchase Price”) to be paid to Sellers by Purchasers for the
Projects is Forty Seven Million Four Hundred Fourteen Thousand Five Hundred Thirty-Eight Dollars ($47,414,538.00), subject to adjustments and prorations as hereinafter set forth. The Purchase Price shall be payable as provided in Section 3 and
allocated among the Projects in accordance with Schedule 2. 
 3. Payment of Purchase Price: Deposits. 

The Purchase Price shall be paid as follows: 
 (A) Pursuant to the terms of the letter of intent entered into by Saffron Holdings Corp. as seller, and Cole Capital Partners, LLC, as buyer, dated June 22, 2012 (the “LOI”), Purchasers
have deposited into escrow with Fidelity National Title Insurance Company, New York, (“Escrow Agent”) the sum of Five Million Dollars ($5,000,000.00) (the “Deposit”). The Deposit shall be held in an insured demand deposit account
maintained by Escrow Agent with Citibank, N.A. in New York, NY (“Citibank”) under the terms and provisions of the Deposit Escrow Agreement dated June 26, 2012. Purchasers acknowledge and agree that except as expressly provided in this
Agreement, the Deposit is non-refundable. If this transaction closes, the Deposit shall be applied to the Purchase Price at Closing. If this transaction does not close, the Deposit will be released to the party entitled thereto in accordance with
this Agreement, and if Sellers are entitled to the Deposit, Purchasers will pay to Sellers interest thereon from June 28, 2012 until the date such Deposit is released to Sellers, at a rate equal to the then current rate of interest paid by
Citibank on insured money market accounts. 
 (B) Upon receipt of Sellers’ Notice of Closing (as defined in
Section 14), Purchasers will deliver to Escrow Agent, not fewer than five (5) days prior to the Estimated Closing Date (as defined in Section 14), the sum of Forty Two Million Four Hundred Fourteen Thousand Five Hundred Thirty-Eight
Dollars ($42,414,538.00) (the “Cash to Close”), to be held in escrow in a separate insured demand deposit account maintained by Escrow Agent with Citibank; provided that if Sellers’ Notice of Closing indicates an Estimated
Closing Date of August 21, 2012, Purchasers will deliver the Cash to Close not later than August 15, 2012. If all of the conditions to closing set forth in Section 11 are satisfied (or waived by the applicable party), the Cash to
Close will be applied to the Purchase Price at Closing. If this transaction does not close for any reason, the Cash to Close will promptly be returned to Purchasers. 
 (C) The balance of the Purchase Price, if any, subject to adjustments, reductions and pro-rations hereinafter provided shall be deposited into escrow by Purchasers prior to Closing by wire transfer of
immediately available funds to a bank account designated by Escrow Agent. 
 4. Purchaser’s Investigation. Prior to the
execution and delivery of this Agreement, Sellers delivered to Purchasers information relating to each Project (the “Sellers’ Diligence Materials”). Sellers hereby represent and warrant to Purchasers that Sellers have no actual
knowledge of any inaccuracy in or incompleteness of such Seller’s Diligence Materials. In reliance upon such representation and warranty by Sellers, Purchasers have completed their due diligence investigation of the Projects, including their
review of Sellers’ Diligence Materials, and are satisfied with the results thereof. 
 5. Leaseback. As a material inducement
to Sellers to convey the Projects to Purchasers and as a material inducement to Purchasers to acquire the Projects from Sellers, at Closing, each Project Owner 

  
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and the corresponding Purchaser shall enter into an individual lease agreement for each Project, using the form attached hereto as Exhibit “I”, subject only to (i) the
insertion into Section 9.1.11 thereof of the applicable requirements set forth in Schedule 5 hereto, (ii) the insertion into Section 21.1 and Schedule 21 thereof of the applicable requirements set forth in Schedule 6 hereto, and
(iii) and such changes as shall be reasonably requested by Purchasers and agreed upon by Sellers (such agreement not to be unreasonably withheld), to take into account the requirements of the laws of the state in which such Project is located
and by which such Lease is governed (each a “Lease” and collectively, the “Leases”), whereby each Purchaser shall lease each Project back to the corresponding Project Owner (“Tenant”). Any Purchasers’ failure to
execute and deliver any of the Leases on or before Closing shall be an event of default by Purchasers under this Agreement. Any Project Owner’s failure to execute and deliver any of the Leases on or before Closing shall be an event of default
by Sellers under this Agreement. 
 6. Sellers’ Representations. 

Sellers jointly and severally represent to Purchasers that as of the Effective Date: 

(A) Each Seller has full right, power and authority to enter into and perform its obligations under this Agreement, including, without
limitation, the authority to convey to the applicable Purchasers good and marketable title to the Projects it owns, subject only to the Permitted Exceptions (as defined below), and has obtained all consents of any other party that are required for
such purpose, if any. The execution and delivery of this Agreement by each Seller, and the performance of this Agreement by each Seller, have been duly authorized by such Seller, and this Agreement is binding on each Seller and enforceable against
each Seller in accordance with its terms. 
 (B) There are no contracts of any kind relating to the leasing, maintenance or
repair of the Projects, except those listed on Exhibit “C” (collectively, the “Contracts”). To Sellers’ Knowledge, neither any Seller, nor any other party thereto, is presently in default under any of such Contracts,
which has not been previously and completely cured. 
 (C) To Sellers’ Knowledge, there is not any existing violation of
any governmental approvals or any violation of building codes and/or zoning ordinances or any other applicable laws, statutes, ordinances or other governmental regulations with respect to the Projects. 

(D) To Sellers’ Knowledge, neither any Seller nor any other party thereto is in default under any of the Existing Leases (as defined
below) or any reciprocal easement agreement (“REA”) or covenant, condition and restriction (“CC&R”) with respect to any of the Projects. 
 (E) There is no pending, or to Sellers’ Knowledge (as defined below) threatened, litigation or other proceeding, which affects or could affect, in a materially adverse way, the Projects or
performance of any Seller’s obligations under this Agreement. 
 (F) No Seller has (i) made a general assignment for
the benefit of creditors, (ii) filed any voluntary petition in bankruptcy or suffered the filing of any involuntary petition by such Seller’s creditors, (iii) suffered the appointment of a receiver to take possession of all, or
substantially all, of such Seller’s assets, (iv) suffered the attachment or other judicial seizure of all, or substantially all, of such Seller’s assets, (v) admitted in writing its inability to pay its debts as they come due, or
(vi) made an offer of settlement, extension or composition to its creditors generally. 
 (G) Each Seller is a “United
States Person” within the meaning of Section 7701 of the Internal Revenue Code of 1986, as amended. 

  
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 (H) There are no leases affecting the Projects other than (i) the Business Lease
Agreement dated January 1989 between Anne Blenke and Benihana National of Florida Corp with respect to the Project located in Lauderdale by the Sea, FL, (ii) the Lease Agreement dated June 14, 2010 between Concord Referral Services, Inc.
and Benihana National of Florida Corp. with respect to the Project located in Lauderdale by the Sea, FL, (iii) the License Agreement dated September 14, 2006 between The Town of Lauderdale-By-The-Sea, Florida and Benihana National of
Florida Corp. with respect to the Project located in Lauderdale by the Sea, FL, and (iv) the Ground Lease dated November 1, 1981 between Northern Illinois Gas Company and Exchange National Bank of Chicago with respect to the Project
located in Lombard, IL (collectively, the “Existing Leases”). 
 (I) No Seller has entered into any other contract of
sale, purchase option, right of first refusal, right of first offer or other agreement under which such Seller is or could become obligated to sell any of the Projects to any other person. 

(J) Benihana, Inc. has filed all reports, schedules, forms, proxy statements and registration statements with the SEC required to be
filed by it pursuant to the Securities Act of 1933, as amended, including all rules and regulations promulgated thereunder (the “Securities Act”) or the Securities Exchange Act of 1934, as amended, including all rules and regulations
promulgated thereunder (the “Exchange Act”), in each such case from March 29, 2009 through May 22, 2012 (collectively the “SEC Documents”). As of their respective dates (or if subsequently amended or superseded
by a filing prior to the date of this Agreement, on the date of such filing), the SEC Documents complied as to form in all material respects with the applicable requirements of the Securities Act or the Exchange Act, as the case may be, and none of
the SEC Documents as of such dates contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading. 
 (K) The consolidated financial statements of Benihana, Inc. included in the SEC Documents
(the “SEC Financial Statements”) have been prepared in accordance with United States generally accepted accounting principles (except as may be otherwise indicated therein or in the notes thereto and except, in the case of unaudited
consolidated quarterly statements, as permitted by Form 10-Q of the Exchange Act), applied on a consistent basis during the periods involved, and (except as may be indicated therein or in the notes thereto or as subsequently amended or superseded by
a filing prior to the date of this Agreement) fairly present in all material respects the consolidated financial position of the Benihana, Inc. and its consolidated subsidiaries as of the respective dates thereof and the consolidated statements of
earnings, stockholders’ equity and cash flows for the respective periods then ended (subject, in the case of unaudited quarterly statements, to normal year-end audit adjustments and the absence of footnotes). 

(L) Since March 27, 2011, no events have occurred which have had or would reasonably be expected to have, individually or in the
aggregate, any material adverse effect on the assets and liabilities (taken as a whole), business, financial condition or result of operations of Benihana, Inc. and its subsidiaries, taken as a whole. From March 27, 2011 to the date of this
Agreement, Benihana, Inc. and is subsidiaries have carried on and operated their respective businesses in all material respects in the ordinary course of business consistent with past practice. 

(M) Each Seller is currently in compliance with, and shall at all times during the term of this Agreement (including any extension
thereof) remain in compliance with, the regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) and any statute,
executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action relating thereto. 

  
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 References to “Sellers’ Knowledge” or other terms of similar import shall refer only to the
current actual knowledge of David Flanery, Chief Financial Officer, who is the representative of Sellers most familiar with the Projects, their operations and conditions and has the most comprehensive knowledge of the matters set forth in this
Section 6, without investigation or inquiry, and shall not be construed, by imputation or otherwise, to refer to the knowledge of any third party property manager, or to any officer, agent, broker, representative, or employee of Sellers or any
affiliate thereof. Notwithstanding the foregoing, David Flanery shall not have any personal liability on the account of any breach of any representation or warranty made by Sellers in this Agreement. No broker, agent or party other than Sellers are
authorized to make any representation or warranty for or on behalf of Sellers. The representations and warranties made in this Agreement by Sellers shall be deemed remade by Sellers as of the date of Closing with the same force and effect as if in
fact specifically remade at that time. If, prior to Closing, either Sellers or Purchasers become aware of any facts that render any of the foregoing representations and warranties to be false, it will give prompt written notice specifying same to
the other party. 
 All representations and warranties made by Sellers in this Agreement shall survive the Closing for a period
of nine (9) months. Sellers shall jointly and severally indemnify, defend and hold harmless Purchasers from and against any and all liabilities, losses, damages, costs, expenses (including without limitation reasonable attorneys’ fees and
expenses), causes of action, suits, claims, demands or judgments of any nature howsoever caused should any representation or warranty set forth herein prove to have been untrue or inaccurate when made or arising from any breach by Sellers of any
representation or warranty set forth herein. 
 7. Purchasers’ Representations. 

Purchasers jointly and severally represent to Sellers that as of the Effective Date: 

(A) Each Purchaser has full authority to execute, deliver and perform this Agreement and has obtained all consents of any other party
that are required for such purpose, if any. The execution and delivery of this Agreement by such Purchaser, and the performance of this Agreement by such Purchaser, have been duly authorized by such Purchaser, and this Agreement is binding on such
Purchaser and enforceable against such Purchaser in accordance with its terms. 
 (B) No Purchaser has (i) made a general
assignment for the benefit of creditors, (ii) filed any voluntary petition in bankruptcy or suffered the filing of any involuntary petition by such Purchaser’s creditors, (iii) suffered the appointment of a receiver to take possession
of all, or substantially all, of such Purchaser’s assets, (iv) suffered the attachment or other judicial seizure of all, or substantially all, of such Purchaser’s assets, (v) admitted in writing its inability to pay its debts as
they come due, or (vi) made an offer of settlement, extension or composition to its creditors generally. 
 (C) Each
Purchaser is currently in compliance with, and shall at all times during the term of this Agreement (including any extension thereof) remain in compliance with, the regulations of the OFAC of the Department of the Treasury (including those named on
OFAC’s Specially Designated and Blocked Persons List) and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or
Support Terrorism), or other governmental action relating thereto. 
 The representations and warranties made in this Agreement
by Purchasers shall be deemed remade by Purchasers as of the date of Closing with the same force and effect as if in fact specifically remade at that time. If any Purchaser becomes aware of any facts that render any of the foregoing

  
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representations and warranties to be false, Purchasers will give prompt written notice specifying same to Sellers. All representations and warranties made by Purchasers in this Agreement shall
survive the Closing for a period of nine (9) months. Purchasers shall jointly and severally indemnify, defend and hold harmless Sellers from and against any and all liabilities, losses, damages, costs, expenses (including without limitation
reasonable attorneys’ fees and expenses), causes of action, suits, claims, demands or judgments of any nature howsoever caused should any representation or warranty set forth herein prove to have been untrue or inaccurate when made or arising
from any breach by Purchasers of any representation or warranty set forth herein. 
 8. Covenants of Sellers. 

As a material inducement to Purchasers’ entering into this Agreement, Sellers hereby jointly and severally covenant unto Purchaser,
the following: 
 (A) Sellers and their agents, including Sellers’ listing broker, shall cease negotiations with any other
existing or prospective buyers of the Projects and will not enter into any agreements concerning the sale or transfer of the Projects with any other person or entity other than Purchasers until such time as this Agreement is terminated. 

(B) Sellers shall take no action that would cause their insurance policies not to remain continuously in force through and including the
Closing Date. 
 (C) Sellers shall not disclose the terms of this Agreement to any appraiser engaged by Purchasers or
Purchasers’ lender. 
 (D) Sellers shall use commercially reasonable efforts to obtain estoppel certificates in form and
substance satisfactory to Purchasers from the other parties to all REAs and CC&Rs affecting any of the Projects. 
 (E)
Sellers shall manage and maintain the Projects in the ordinary course and in the same manner and condition as before the making of this Agreement, as if Sellers were retaining such Projects. Sellers shall make such repairs and replacements to and of
each of the Projects as shall be necessary for Sellers to comply with this Section 8(E). Except as otherwise specifically provided herein, Sellers shall deliver the Projects at Closing in substantially the same condition as it is on the
Effective Date, reasonable wear and tear and damage by casualty or condemnation excepted. 
 9. Covenant of Purchasers. Purchasers
jointly and severally agree not to enter into any negotiations or agreements concerning the purchase of the Projects with any other person or entity other than Sellers until such time as this Agreement is terminated. 

10. Sale As Is, Where Is. 
 (A) Purchasers jointly and severally acknowledge and agree that upon Closing, Sellers shall sell and convey to Purchasers and Purchasers shall accept the Projects “AS IS, WHERE IS, WITH ALL
FAULTS,” except to the extent expressly provided otherwise in this Agreement and any document executed by Sellers and delivered to Purchasers at Closing. Except as expressly set forth in this Agreement, Purchasers have not relied and will
not rely on, and Sellers have not made and is not liable for or bound by, any express or implied warranties, guarantees, statements, representations or information pertaining to the Projects or relating thereto (including specifically, without
limitation, the Project Documents) made or furnished by Sellers, or any property manager, real estate broker, agent or third party representing or purporting to represent Sellers, to whomever made or given, directly or indirectly,

  
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orally or in writing. Purchasers jointly and severally represent that they are knowledgeable, experienced and sophisticated purchasers of real estate and that, except as expressly set forth in
this Agreement, they are relying solely on their own expertise and that of Purchasers’ consultants in purchasing the Projects and shall make an independent verification of the accuracy of any documents and information provided by Sellers.
Purchasers have conducted such inspections and investigations of the Projects as Purchasers deemed necessary, including, but not limited to, the physical and environmental conditions thereof as well as the economic feasibility of the Projects, and
shall rely upon same. Purchasers jointly and severally acknowledge that prior to the date hereof, Sellers have afforded Purchasers a full opportunity to conduct such investigations of the Projects as Purchasers deemed necessary to satisfy itself as
to the condition of the Projects, the economic feasibility of the Projects, and the existence or non-existence or curative action to be taken with respect to any hazardous materials on or discharged from the Projects, and will rely solely upon same
and not upon any information provided by or on behalf of Sellers or their agents or employees with respect thereto, other than such representations, warranties and covenants of Sellers as are expressly set forth in this Agreement. Upon Closing, but
excluding any Sellers’ liability that may exist for a breach of any representation, warranty or covenant of Sellers made in this Agreement or in any document executed by Sellers and delivered to Purchasers at Closing, Purchasers shall assume
the risk that adverse matters, including, but not limited to, adverse physical or construction defects or adverse environmental, economic or business operational factors, and health or safety conditions, may not have been revealed by
Purchasers’ inspections and investigations. 
 (B) Except to the extent expressly provided otherwise in this Agreement and
any document executed by Sellers and delivered to Purchasers at Closing, including, without limitation, the Leases, Purchasers, upon closing, will be deemed to have waived, relinquished and released Sellers (and their employees and agents) from and
against any and all claims, demands, causes of action (including causes of action in tort), losses, damages, liabilities, costs and expenses (including attorneys’ fees and court costs) of any and every kind or character, known or unknown, which
Purchasers might have asserted or alleged against Sellers (and its employees and agents) at any time by reason of or arising out of any latent or patent physical conditions, violations of any applicable laws (including, without limitation, any
environmental laws) regarding the Projects and any and all other acts, omissions, events, circumstances or matters regarding the Projects. Nothing contained in this Section 10(B) shall be construed to negate any obligation of the Sellers as
Tenants under the Leases. 
 (C) Purchasers acknowledge and agree that the disclaimers and other agreements set forth in this
Section 10 are an integral part of this Agreement and that Sellers would not have agreed to sell the Projects to Purchasers without the disclaimers and other agreements set forth above. 

(D) The terms and conditions of this Section 10 shall expressly survive the Closing. 

11. Conditions Precedent. 
 (A) The occurrence of the following events or conditions shall be conditions precedent to Purchasers’ obligation to close the transaction contemplated by this Agreement (each, a “Purchaser
Condition Precedent” and collectively, the “Purchaser Conditions Precedent”): 
 (i) At Closing, the
representations and warranties set forth in this Agreement by Seller shall be true and correct in all material respects. 
 (ii)
At Closing, Sellers shall have complied, in all material respects, with each of their covenants set forth herein, including, without limitation, their obligation to deliver all of the Seller Closing Deliveries (as defined below) and their obligation
to satisfy and discharge all liens, judgments, and other encumbrances affecting the Projects other than the Permitted Exceptions. 

  
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 (iii) The Agreed Title Objections (as defined in Section 12) shall have been satisfied
or waived by Purchasers. 
 (iv) At Closing, the Title Company (as defined below) shall be unconditionally obligated and
prepared, subject only to payment of the applicable premium and other related charges and the recording, as applicable, of all conveyance documents and the release of any existing liens, to issue each of the Title Policies (as defined below)
pursuant to each of the Title Commitments (as defined below) in its form on the Effective Date. 
 If the condition set forth in
clause (A)(i) has not been satisfied on or prior to the Closing Date, Purchasers shall have the right to either (a) terminate this Agreement by giving written notice thereof to Sellers and Escrow Agent on or prior to the Closing Date whereupon,
Escrow Agent shall return to Purchasers the Deposit and the Cash to Close, if any, held by Escrow Agent, and the parties shall be released of all further obligations each to the other under this Agreement (other than those which by their specific
terms are to survive a termination of this Agreement) or (b) proceed to Closing, whereby the Purchaser Conditions Precedent not otherwise satisfied shall be deemed waived. 

If the condition set forth in clause (A)(ii) has not been satisfied on or prior to the Closing Date, Purchasers shall have the right to
either (a) terminate this Agreement by giving written notice thereof to Sellers and Escrow Agent on or prior to the Closing Date, specifying the condition not satisfied or waived, and enforce all rights and remedies available to Purchasers as
result of such Sellers default pursuant to Section 18 below; provided that, upon such termination, Escrow Agent shall return to Purchasers the Deposit and the Cash to Close, if any, held by Escrow Agent, or (b) proceed to Closing, whereby
the Purchaser Conditions Precedent not otherwise satisfied shall be deemed waived. 
 If the condition set forth in clause
(A)(iii) has not been satisfied on or prior to the Closing Date, Purchasers shall have the right to either (a) terminate this Agreement by giving written notice thereof to Sellers and Escrow Agent on or prior to the Closing Date, specifying the
condition not satisfied or waived, whereupon Escrow Agent shall return to Purchasers the Deposit and the Cash to Close, if any, held by Escrow Agent, and the parties shall be released of all further obligations each to the other under this Agreement
(other than those which by their specific terms are to survive a termination of this Agreement) or (b) proceed to Closing, whereby the Purchaser Conditions Precedent not otherwise satisfied shall be deemed waived. 

If this Agreement is terminated in accordance with this Section 11(A) due to a failure by Sellers to satisfy clause (A)(i) and/or
clause (A)(ii), Sellers shall reimburse Purchasers’ reasonable out of pocket fees and expenses incurred in connection with the transaction up to One Hundred Fifty Thousand Dollars ($150,000.00). 

(B) The occurrence of the following events or conditions shall be conditions precedent to Sellers’ obligation to close the
transaction contemplated by this Agreement (each, a “Seller Condition Precedent” and collectively, the “Seller Conditions Precedent”): 
 (i) The merger of Safflower Acquisition Corp. into Benihana, Inc. (the “Merger”) shall have occurred, or shall occur simultaneously with the Closing. 

(ii) At Closing, Purchasers shall have complied, in all material respects, with each of its covenants set forth herein, including,
without limitation, the obligation to deliver to Escrow Agent, the Cash to Close, in accordance with Section 3(B) and the obligation to deliver all of the Purchaser Closing Deliveries (as defined below). 

  
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 (iii) At Closing, the representations and warranties set forth in this Agreement by
Purchasers shall be true and correct in all material respects. 
 If the condition set forth in clause (B)(i) above is the only
Seller Condition Precedent that has not been satisfied on or to prior to the Estimated Closing Date, Sellers shall have the unilateral right to either (i) terminate this Agreement by giving written notice thereof to Purchasers and Escrow Agent
on or prior to the Estimated Closing Date, whereupon the Escrow Agent shall return to Purchasers, the Deposit and the Cash to Close, if any, held by Escrow Agent, and Sellers shall reimburse Purchasers’ reasonable out of pocket fees and
expenses incurred in connection with the transaction up to One Hundred Fifty Thousand Dollars ($150,000.00), whereupon the parties shall be released of all further obligations each to the other under this Agreement (other than those which by their
specific terms are to survive a termination of this Agreement) or (ii) extend the Closing Date to another date in accordance with Section 14, but in no event shall the Closing Date be later than the Outside Closing Date. 

Cole REIT III Operating Partnership, L.P. hereby absolutely and unconditionally guarantees the obligation of the REIT III Purchasers (as
defined in Section 30) to perform their respective obligations under clause (B)(ii) and Cole Operating Partnership IV, L.P. hereby absolutely and unconditionally guarantees the obligation of the REIT IV Purchasers (as defined in
Section 30) to perform their respective obligations under clause (B)(ii). Cole REIT III Operating Partnership, L.P. and Cole Operating Partnership IV, L.P. shall be referred to herein, each, individually, as a Guarantor, and, collectively, as
the “Guarantors”. Each Guarantor hereby waives notice of any default, diligence, presentment, demand, or protest. The parties agree that the Purchasers shall be primarily obligated hereunder, but in the event that one or more Purchaser
fails to perform its obligations under clause (B)(ii) as of the Closing, each Guarantor hereby waives any requirement that Seller exhaust any right or remedy, or proceed first or at any time, against any Purchaser or any other guarantor of, or any
security for, any of the Purchasers’ obligations. The forgoing guaranty shall not be affected by the release or discharge (other than by any Seller) of any Purchaser from the performance or observance of any obligation, undertaking or condition
to be performed by such Purchaser under clause (B)(ii), including its obligation to deliver the Purchase Price at Closing, by operation of law or otherwise, including any discharge of such Purchaser’s obligations pursuant to any bankruptcy or
insolvency proceeding. 
 If the condition set forth in clause (B)(ii) is not satisfied on the Closing Date, Sellers shall have
the unilateral right to either (i) terminate this Agreement by giving written notice thereof to Purchasers and Escrow Agent on the Closing Date, whereupon the Escrow Agent shall deliver to Sellers the Deposit and the parties shall be released
of all further obligations each to the other under this Agreement (other than those which by their specific terms are to survive a termination of this Agreement) or (ii) exercise on the Closing Date, its remedies against the applicable
Guarantor and proceed to Closing. 
 If the condition set forth in clause (B)(iii) has not been satisfied on or prior to the
Closing Date, and the failure of such condition prevents any Seller from conveying its Properties to the corresponding Purchasers as provided herein, Sellers shall have the right to either (a) terminate this Agreement by giving written notice
thereof to Purchasers and Escrow Agent on or prior to the Closing Date, specifying the condition not satisfied or waived whereupon, Escrow Agent shall deliver to Sellers the Deposit and return to Purchasers the Cash to Close, if any, held by Escrow
Agent, and the parties shall be released of all further obligations each to the other under this Agreement (other than those which by their specific terms are to survive a termination of this Agreement) or (b) proceed to Closing, whereby the
Seller Conditions Precedent not otherwise satisfied shall be deemed waived. 
 If this Agreement is terminated in accordance
with this Section 11(B) and Sellers are entitled to receive the Deposit, Purchasers will pay to Sellers interest thereon from June 28, 2012 until the date such Deposit is released to Sellers, at a rate equal to the then current rate of
interest paid by Citibank on insured money market accounts. 

  
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 12. Title. 
 (A) Sellers jointly and severally agree to convey good, marketable and insurable fee simple title for all of the Projects to Purchasers, subject only to the Permitted Exceptions or other exceptions waived
by Purchasers. 
 (B) Prior to the Effective Date, Sellers delivered to Purchasers with respect to each Project, a title
commitment (the “Title Commitment”) from Fidelity National Title Insurance Company, NY (the “Title Company”) to issue a standard coverage owner’s policy of title insurance, together with such customary endorsements as are
reasonably requested by Purchasers and available in the jurisdiction in which the applicable property is located, in an amount equal to the Purchase Price allocable to each such Project (each, a “Title Policy” and, collectively, the
“Title Policies”). Sellers and Purchasers have resolved all title objections raised by Purchasers, other than the title objections listed on Schedule 4 (the “Agreed Title Objections”), resolution of which shall be a condition to
closing, and Purchasers accept the items listed in Schedule B of each pro forma Title Policy as of the Effective Date (other than the Agreed Title Objections) as “Permitted Exceptions” and agree to accept on the Closing Date title to the
Projects as set forth in each pro forma Title Policy and the Surveys (as defined below) as of the Effective Date (subject only to the resolution of the Agreed Title Objections). 
 13. Survey. 
 Prior to the Effective Date, Sellers delivered to
Purchasers with respect to each Project, an ALTA survey (the “Surveys”). Sellers and Purchasers have resolved all objections raised by Purchasers with respect to the Surveys and the Surveys are in final form as of the Effective Date.

 14. Closing. 
 The closing of the transaction contemplated by this Agreement (the “Closing”) shall take place concurrently with the Merger. Sellers shall deliver to Purchasers and Escrow Agent not less than
ten (10) days prior written notice (“Sellers’ Notice of Closing”) of the date on which the Merger is expected to occur (the “Estimated Closing Date”). The parties anticipate that the Closing will occur on or about
August 21, 2012, but in no event will the Closing occur later than November 22, 2012 (the “Outside Closing Date”). Sellers will provide to Purchasers and Escrow Agent written notice of the actual date of Closing (the
“Closing Date”) not less than one (1) business day prior to such Closing Date (provided that Sellers may revoke such notice in the event that the shareholders of Benihana, Inc. fail to approve the Merger on such date). Closing shall
be a “West Coast Style” closing, with all documents delivered to Escrow Agent in advance of the Closing. In the event that Closing does not occur on or prior to the Outside Closing Date, either party may terminate this Agreement by
delivering written notice to the other party and Escrow Agent. Upon receipt of any such termination notice, Escrow Agent shall return the Deposit and the Cash to Close, if any, to Purchasers, whereupon Sellers shall reimburse Purchasers’
reasonable out of pocket fees and expenses incurred in connection with the transaction up to One Hundred Fifty Thousand Dollars ($150,000.00), and the parties shall thereafter be released of all further obligations each to the other under this
Agreement (other than those which by their specific terms are to survive a termination of this Agreement). 
 (A) At Closing,
the applicable Project Owner shall execute and/or deliver, as applicable, to the corresponding Purchasers or Escrow Agent, as applicable (collectively, the “Seller Closing Deliveries”): 

(i) a Special Warranty Deed (the “Deed”) for each of the Projects owned by it conveying each such Project to the corresponding
Purchaser, subject only to the Permitted Exceptions (in the form attached as Exhibit “E”); 

  
 -10-

 (ii) An Assignment and Assumption of Intangible Property (in the form attached as Exhibit
“F”) with respect to each Project owned by it; 
 (iii) Four (4) original counterparts of the Lease with
respect to each Project owned by it; 
 (iv) Four (4) original counterparts of the Memorandum of Lease with respect to each
Project owned by it; 
 (v) A FIRPTA Affidavit (in the form attached as Exhibit “G”); 

(vi) An Owner’s Affidavit (in the form attached as Exhibit “H”); 

(vii) Such evidence as the Title Company may reasonably require as to the authority of the person or persons executing documents on
behalf of such Seller; 
 (viii) Possession of the applicable Project to the corresponding Purchaser; 

(ix) Any transfer tax affidavits required by law; and 
 (x) 1099 form. 
 (B) At Closing, the applicable Purchaser shall execute and /or
deliver, or cause Escrow Agent to deliver (as applicable), to the corresponding Seller (collectively, the “Purchaser Closing Deliveries”): 
 (i) The Purchase Price (which shall be the joint and several obligation of all the Purchasers); 
 (ii) Four (4) original counterpart signatures to each Lease with respect to each Project to be purchased by it; 
 (iii) Four (4) original counterpart signatures to each Memorandum of Lease with respect to each Project to be purchased by it; 

(iv) The Assignment and Assumption of Intangible Property with respect to each Project to be purchased by it; and 

(v) Such evidence as the Title Company may reasonably require as to the authority of the person or persons executing documents on behalf
of such Purchaser. 
 Purchasers and Administrative Agent shall execute and deliver at Closing counterpart closing statements
and such other documents as are reasonably necessary to consummate the transaction. 
 15. Prorations. 

(A) Sellers shall be entitled to all income produced from the operation of the Projects which is allocable to the period prior to the
Closing and shall be responsible for all expenses allocable to that period; and Buyer shall be entitled to all income and responsible for all expenses allocable to the period beginning on the Closing Date. Notwithstanding the foregoing, the parties
acknowledge that, pursuant to the Leases, from and after the Closing Date, the Tenants under the Leases will be responsible for the payment of all real property taxes, assessments, insurance premiums, utility charges and all other items customarily
apportioned in sales of real property in the jurisdiction in which each of the Projects is located (the “Apportioned Items”). In consideration of the foregoing, no provision shall be made at Closing with respect to the apportionment of any
Apportioned Item. 

  
 -11-

 (B) The terms and provisions of this Section shall survive Closing. 

16. Closing Costs. 

Closing costs shall be allocated at follows: 
 (A) Sellers. Sellers shall pay at Closing (i) the costs of releasing all liens, judgments, and other encumbrances not approved by Purchasers as a Permitted Exception and of recording such
releases, (ii) one-half of the fees and costs due to Escrow Agent for its services, (iii) the leasehold tax associated with the sale of the Projects and/or execution or delivery of any Lease or recordation of any Memorandum of Lease, if
any, (iv) the Surveys, (v) Phase I environmental reports with respect to the Projects, (vi) property condition reports with respect to the Projects, and (vii) the cost to record each Memorandum of Lease. 

(B) Purchasers. Purchasers shall pay at Closing (i) one-half of the fees and costs due to Escrow Agent for its services,
(ii) the incremental cost, if any, for extended coverage to the owner’s policies of title insurance, (iii) the cost of all endorsements to such owner’s policies of title insurance requested by Purchaser (excluding, however, those
endorsements required to cure one or more title defect not approved by Purchaser as a Permitted Exception in the absence of such endorsement, which endorsements shall be issued at Sellers’ sole cost and expense), (iv) the cost of any
lender’s policy of title insurance, and (v) the Purchasers’ appraisals. 
 (C) Other. At Closing,
Purchasers and Sellers will pay what is customary in each state regarding real property transfer tax and the cost of a standard coverage owner’s policy of title insurance for each Project. Schedule 3 attached hereto sets forth such custom. Each
party shall pay its own attorneys’ fees, except as otherwise expressly provided in this Agreement. 
 17. Condemnation and
Destruction. 
 (A) If, prior to the Closing Date, all or any material portion of any of the Projects is taken by eminent
domain (or is the subject of a pending or contemplated taking which has not been consummated), Sellers shall notify Purchasers of such fact and Purchasers shall have the option (which option shall be set forth in a notice from Purchasers to Sellers
given not later than thirty (30) days after receipt of Seller’s notice): 
 (i) to terminate this Agreement, in which
event the Deposit and the Cash to Close, if any, shall be refunded to Purchasers; or 
 (ii) to accept title to the affected
Project (other than the portion so taken), without any abatement of the Purchase Price, in which event the applicable Seller shall assign and turn over to the corresponding Purchaser at the Closing, and such Purchaser shall be entitled to receive
and keep, all amounts awarded or to be awarded as the result of the taking. 
 For purposes of this subparagraph (A), a
“material” portion of a Project shall be deemed to have been taken by eminent domain if such taking shall result in any of the following: (1) a permanent loss of parking spaces for the applicable Project such that the Project will no
longer have sufficient parking to comply with applicable law or with any applicable Permitted Exception or the applicable Lease; (2) a temporary loss of more than twenty (20%) of the parking spaces at a particular Project for a period that

  
 -12-

 
exceeds one hundred twenty (120) days or that results in non-compliance with applicable law or with any applicable Permitted Exception or the applicable Lease; (3) a permanent loss of
access to the applicable Project; (4) the demolition of any part of the Improvements located at the applicable Project, (5) Tenant having the right to terminate the applicable Lease and the failure by Tenant to waive such right in writing
on or prior to the date that is thirty (30) days after Purchasers’ receipt of Sellers’ notice of condemnation contemplated above, (6) Tenant having the right to permanently or temporarily abate or offset rent under the applicable
Lease, or (7) the repairs, renovations, alterations or reconstruction necessary to repair or correct the damage to the Project caused by such taking is reasonably estimated to exceed $375,000.00. 

(B) If, prior to the Closing Date, all or any material (as defined below) portion of any Project is damaged or destroyed by fire or other
casualty, Sellers shall notify Purchasers of such fact and Purchasers shall have the option (which option shall be set forth in a written notice from Purchasers to the Sellers given not later than thirty (30) days after receipt of the
Sellers’ notice): 
 (i) to terminate this Agreement, in which event the Deposit and the Cash to Close, if any, shall be
refunded to Purchasers; or 
 (ii) to accept title to the Projects in their existing condition without any abatement of the
Purchase Price. In such event, Sellers and Purchasers shall reasonably cooperate in the adjustment and settlement of the insurance claim and the applicable Tenant will be obligated to repair and restore such damage in accordance with the terms of
the applicable Lease. 
 In the event there is damage to or destruction of an immaterial part of a Project by fire or other
casualty, Purchasers shall have no right to terminate this Agreement, there shall be no reduction in the Purchase Price, and the applicable Tenant will be obligated to repair and restore such damage in accordance with the terms of the applicable
Lease. 
 For purposes of this subparagraph (B), an “immaterial” part of a Project shall be deemed to have been
damaged or destroyed if the reasonable cost of such repair or replacement thereof (the “Reasonable Cost”) shall be less than Three Hundred Seventy-Five Thousand Dollars ($375,000.00), and a “material” part thereof shall be deemed
to have been damaged or destroyed if the Reasonable Cost shall be Three Hundred Seventy-Five Thousand Dollars ($375,000.00) or more. If Sellers and Purchasers are unable to mutually agree upon the Reasonable Cost, then Sellers and Purchasers shall
each retain a general contractor licensed in the State where the applicable Project is located, which general contractors shall select a third general contractor licensed in the State where the applicable Project is located. Such third general
contractor shall then determine the Reasonable Cost and such third general contractor’s determination of the Reasonable Cost shall be binding upon Sellers and Purchasers. Sellers and Purchasers shall be responsible for the charges of its own
general contractor and the charge of the third general contractor shall be shared equally by Sellers and Purchasers. 
 18.
Default. 
 (A) If any Purchaser shall default under any of the terms, covenants or provisions of this Agreement on
the part of such Purchaser to be performed, including, without limitation, the Purchasers’ obligation to deliver the Cash to Close, and such default is not cured within five (5) business days after written notice thereof from Sellers to
Purchasers (other than Purchasers’ failure to timely close this transaction, for which default no notice shall be required and no cure or grace period shall be afforded), then Sellers shall have the right to (i) terminate this Agreement by
written notice to Purchasers, whereupon Escrow Agent shall release the Deposit to Sellers, and Purchasers shall pay to Sellers interest thereon from the June 28, 2012 until the date on which the Deposit is delivered to Sellers, at the rate of
interest paid by Citibank on money market accounts, as Sellers’ sole and exclusive remedy and as agreed and liquidated damages, or (ii) enforce their rights under the applicable Guaranties, as the case may be,

  
 -13-

 
and proceed to Closing. Purchasers and Sellers acknowledge and agree that actual damages are difficult and uncertain of ascertainment and the Deposit and the interest thereon is a fair and
reasonable estimation of the damages of Sellers. The parties further agree that in the event of a default by Purchaser, the parties shall, after receipt of the Deposit and the interest thereon by Sellers, be relieved of all further obligations
hereunder, except for such as are expressly stated to survive termination. 
 (B) If any Seller shall default under any of the
terms, covenants or provisions of this Agreement on the part such Seller to be performed and such default is not cured within five (5) business days after written notice thereof from Purchasers (other than Sellers’ failure to close this
transaction for which no notice shall be required and no cure or grace period shall be afforded), Purchasers at their option, shall have the right either: (i) as its sole and exclusive remedy, the right to receive (a) the return of the
Deposit, and the Cash to Close, if any, held by Escrow Agent, and (b) reimbursement by Sellers for Purchasers’ reasonable out of pocket fees and expenses in connection with this transaction not to exceed One Hundred Fifty Thousand Dollars
($150,000.00), whereupon the parties shall be released from all further obligations hereunder, except those which are expressly stated to survive termination, or (ii) seek specific performance against Sellers in which event Closing shall be
automatically extended as necessary. Notwithstanding the foregoing, if specific performance is unavailable as a remedy to Purchasers because of any Seller’s affirmative act or intentional omission, Purchasers shall be entitled to pursue all
rights and remedies available at law or in equity. 
 (C) If a default by any Seller or any Purchaser cannot be cured within
such five (5) business day period, but the defaulting party commences to cure such default within such five (5) business day period and proceeds with diligence to pursue such cure, such defaulting party shall have such additional time as
shall be reasonably required to cure such default; provided that such additional cure period shall not to exceed twenty-five (25) days or extend past the Closing Date. 
 19. Successors and Assigns. 
 The terms, conditions and covenants of
this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective nominees, successors, beneficiaries and assigns. Purchasers may not assign their rights under this Agreement without first obtaining
Sellers’ written approval in their sole and absolute discretion. The assignment of any of Purchasers’ rights under this Agreement without Sellers’ prior written consent shall constitute a default by Purchasers under this Agreement.

 20. Brokers. 
 The parties each represent to the other that they have not dealt in this transaction with any brokers other than Jeffries & Co. (“Brokers”). Sellers shall be solely responsible for the
commissions payable to the Brokers at Closing. Each party agrees, as indemnitor, to indemnify and save the other, as indemnitee, harmless against any liability, cost or expense, including reasonable attorney’s fees, at trial and on appeal,
incurred by the indemnified party if the representation of the indemnitor stated in this paragraph shall be false or incorrect. The provisions of this Section 20 will survive Closing and delivery of the Deeds. 

21. Notices. From and after the Effective Date, Sean Murphy, Director of Safflower Holdings Corp. (“Administrative Agent”) shall
have the sole right and authority to act on behalf of Sellers for the purpose of sending and receiving notices and granting or refusing consent under this Agreement. All notices, requests, demands or other communications hereunder shall be in
writing and deemed to have been given only if hand delivered, sent by nationally recognized overnight courier service (e.g., Federal Express) or transmitted by facsimile with automatic electronically printed confirmation of successful transmission
or via e-mail with a conforming copy of the notice sent by one of the other means of giving notice within 24 

  
 -14-

 
hours of transmission by facsimile or e-mail, to the parties as follows, or such other address as either party shall designate by notice pursuant to this paragraph: 

 

			
	 If to Sellers:
	  	Safflower Holdings Corp.
		  	c/o Angelo, Gordon & Co.
		  	245 Park Avenue, 26th Floor
		  	New York, NY 10167
		  	Phone: (212) 883-4184
		  	Fax No.: (212) 599-2120
		  	Attention: Sean P. Murphy, Director
		  	Email: smurphy@angelogordon.com
		
	 with a copy to:
	  	Sheppard Mullin Richter & Hampton LLP
		  	1300 I Street, NW
		  	Suite 1100
		  	Washington, D.C. 20005
		  	Phone No.: (202) 469-4943
		  	Fax No.: (202) 312-9411
		  	Attn.: Michele E. Williams, Esquire
		  	Email: mwilliams@sheppardmulllin.com
		
	 If to Purchasers:
	  	c/o Cole Real Estate Investments
		  	2325 E. Camelback Road
		  	Suite 1100
		  	Phoenix, AZ 85016
		  	Phone No.: (602) 778-8700
		  	Fax No.: (602) 449-7012
		  	Attn.: Jay D’Elia, Esquire
		  	Email: jdelia@colecapital.com
		
	 with a copy to:
	  	Snell & Wilmer, L.L.P.
		  	One Arizona Center
		  	Phoenix, AZ 85004
		  	Phone No.: (602) 382-6000
		  	Fax No.: (602) 382-6070
		  	Attn.: Kevin T. Lytle, Esquire
		  	Email: klytle@swlaw.com
		
	If to Escrow Agent:	  	Fidelity National Title Insurance Company
		
		  	485 Lexington Avenue
		  	18th Floor
		  	New York, NY 10172
		
		  	Attn: Andrea Kremen, Esq.
		  	Phone No.: (212) 471-3816
		  	Fax No.: (212) 481-1325
		  	Email: akremen@fnf.com

  
 -15-

 Notices given by hand delivery or overnight courier shall be effective when delivered by hand or when
delivered to such courier, and notices given by facsimile or e-mail shall be deemed given upon receipt, except when received on a Saturday, Sunday or legal holiday, in which case same shall be effective on the next business day. Notices given by an
attorney for either party shall be deemed effective notices. 
 Notices to or from Seller or any individual Project Owner shall only be
effective if given to, or made by, Administrative Agent. 
 22. Attorneys’ Fees. 

In any action or proceeding between Sellers and Purchasers arising out of this Agreement or the transaction contemplated hereby, the
prevailing party in such action or proceeding shall be entitled to recover all costs of such action or proceeding incurred by it, including reasonable attorney’s fees through trial and all appeals. 

23. Entire Agreement. 
 This Agreement supersedes the LOI and constitutes the entire Agreement and understanding of Purchasers and Sellers with respect to the Projects and the transaction contemplated by this Agreement, and
there are no other agreements, representations or warranties other than as stated in this Agreement. This Agreement may not be modified or amended other than by written instrument executed by Purchasers and Sellers. 

24. Miscellaneous. 

(A) Time shall be of the essence for the performance of all obligations of Sellers and Purchasers under this Agreement. 

(B) Neither this Agreement nor any notice or memorandum thereof shall be recorded in the Public Records and any such recording by or on
behalf of Purchasers shall be deemed a material default by Purchasers, terminating Purchasers’ rights under this Agreement and entitling Sellers to receive the Deposit. 
 (C) This Agreement may be executed in counterparts all of which shall constitute one and the same instrument. Facsimile, or scanned and e-mailed signatures shall be deemed for all purposes to be
originals. 
 (D) This Agreement shall not be construed more strictly against one party than against the other merely by virtue
of the fact that it may have been prepared by counsel for one of the parties, it being recognized that both Sellers and Purchasers have contributed substantially and materially to the preparation of this Agreement. 

(E) This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 

(F) The provisions hereof shall be deemed independent and severable, and the invalidity or partial invalidity or enforceability of any
one provision shall not affect the validity of enforceability of any other provision hereof. 
 (G) Any date in this Agreement
(other than the Effective Date) which falls upon a Saturday, Sunday or legal holiday (defined as any weekday upon which banks in the city of Miami Florida are not open for business) shall be deemed to be extended to the next business day. The term
“business day” as used in this Agreement means any day that is not a Saturday, Sunday, or legal holiday. 

  
 -16-

 25. Drafts Not an Offer to Enter Into a Legally Binding Contract. The submission of a draft,
or a marked up draft, of this Agreement by one party to another is not intended by either party to be an offer to enter into a legally binding contract with respect to the purchase and sale of the Projects. The parties shall be legally bound with
respect to the purchase and sale of the Projects pursuant to the terms of this Agreement only if and when the parties have been able to negotiate all of the terms and provisions of this Agreement in a manner acceptable to each of the parties in
their respective sole discretion, and each of Sellers and Purchasers have fully executed and delivered to each other a counterpart of this Agreement. 
 26. Like Kind Exchange under Section 1031. In the event that either Sellers or Purchasers so desire, each of Sellers and Purchasers shall cooperate with the other to effect a like kind
exchange pursuant to Section 1031 of the Internal Revenue Code, including the assignment of this Agreement to a qualified intermediary, provided that: (A) the Closing shall not be delayed or affected by reason of the exchange nor shall the
consummation or accomplishment of the exchange be a condition precedent or condition subsequent to Sellers’ obligations under the Agreement; (B) neither party shall be required to acquire or hold title to any real property for purposes of
consummating the exchange; and (C) neither party shall incur any liability, cost, expense or obligation whatsoever as to the exchange or any matter arising out of or otherwise connected therewith (except for each of Sellers’ or
Purchasers’ attorneys’ fees and costs which shall be the sole and exclusive responsibility of the party incurring such attorneys’ fees and costs) Neither Sellers nor Purchasers shall, by this provision, or acquiescence to the
exchange: (i) have their rights under the Agreement affected or diminished in any manner; or (ii) be responsible for compliance with or be deemed to have warranted to the other party that the exchange in fact complies with
Section 1031 of the Internal Revenue Code of 1986, as amended. 
 27. Radon Gas Notice. 

RADON IS A NATURALLY OCCURRING RADIOACTIVE GAS THAT, WHEN IT HAS ACCUMULATED IN A BUILDING IN SUFFICIENT QUANTITIES, MAY PRESENT HEALTH
RISKS TO PERSONS WHO ARE EXPOSED TO IT OVER TIME. LEVELS OF RADON THAT EXCEED FEDERAL AND STATE GUIDELINES HAVE BEEN FOUND IN BUILDINGS IN FLORIDA. ADDITIONAL INFORMATION REGARDING RADON AND RADON TESTING MAY BE OBTAINED FROM YOUR COUNTY PUBLIC
HEALTH UNIT. THIS NOTICE IS GIVEN PURSUANT TO SECTION 404.056 (7), FLORIDA STATUTES. 
 28. Waiver of Florida Energy Efficiency
Disclosure. 
 PURCHASERS HEREBY WAIVE ANY OBLIGATION OF SELLERS TO PROVIDE PURCHASERS WITH AN ENERGY EFFICIENCY
DISCLOSURE BROCHURE FOR THE PROJECTS PURSUANT TO FLORIDA STATUTES SECTION 553.996. 
 29. Privilege Taxes. 

Sellers jointly and severally represent, warrant and covenant to Purchasers that all state and local transaction privilege, sales, excise,
use or similar taxes relating to the development, sale or rental of each Project (including, without limitation any speculative builder tax, owner-builder tax, or construction contractor tax) have been paid and Sellers shall pay any such taxes that
may arise as a result of the sale of any Project to Purchasers as and when due. Sellers shall jointly and severally indemnify, hold harmless and defend Purchasers, Purchasers’ affiliates, the partners, trustees, shareholders, directors,
officers, attorneys, employees and agents of each of them, and their respective heirs, successors, personal 

  
 -17-

 
representatives and assigns from any and all demands, claims (including, without limitation, causes of action in tort), legal or administrative proceedings, losses, liabilities, damages,
penalties, fines, liens, judgments, costs or expenses whatsoever (including, without limitation, attorneys’ fees and costs), whether direct or indirect, known or unknown, foreseen or unforeseen, relating to a breach of the preceding sentence.
The provisions of this Section 29 shall survive Closing. 
 30. Limited Joint and Several Liability. 

Notwithstanding anything to the contrary set forth in this Agreement, (i) the REIT III Purchasers shall have no obligations hereunder relating to or
arising from the Properties located in Lauderdale-by-the-Sea, Florida; Lombard, Illinois; Golden Valley, Minnesota and/or The Woodlands, Texas nor from any representations, warranties or covenants made by any of the REIT IV Purchasers nor from any
default hereunder by any of the REIT IV Purchasers, and (ii) the REIT IV Purchasers shall have no obligations hereunder relating to or arising from the Properties located in Anchorage, Alaska; North Bay Village, Florida; Stuart, Florida;
Alpharetta, Georgia; Schaumburg, Illinois; Wheeling, Illinois; Farmington Hills, Michigan; Maple Grove, Minnesota and/or Dallas, Texas nor from any representations, warranties or covenants made by any of the REIT III Purchasers nor from any default
hereunder by any of the REIT III Purchasers. As used herein, the term “REIT III Purchasers” shall mean, collectively, Cole BN Anchorage AK, LLC; Cole BN North Bay Village FL, LLC; Cole BN Stuart FL, LLC; Cole BN Alpharetta GA, LLC; Cole BN
Schaumburg IL, LLC; Cole BN Wheeling IL, LLC; Cole BN Farmington Hills MI, LLC; Cole BN Maple Grove MN, LLC; and Cole BN Dallas TX, LLC. As used herein, the term “REIT IV Purchasers” shall mean, collectively, Cole BN Lauderdale FL, LLC;
Cole BN Lombard IL, LLC; Cole BN Golden Valley MN, LLC; and Cole BN Woodlands TX, LLC. 
 [SIGNATURES TO FOLLOW ON NEXT PAGE]

  
 -18-

 IN WITNESS WHEREOF the Sellers and Purchasers have executed this Agreement, each as of the
date indicated below as the date of its execution. 
 PURCHASERS: 

 

									
	Cole BN Maple Grove MN, LLC,	 		 	Cole BN Anchorage AK, LLC,
	a Delaware limited liability company	 		 	a Delaware limited liability company
					
	By:	 	Cole REIT Advisors III, LLC,	 		 	By:	 	Cole REIT Advisors III, LLC,
		 	a Delaware limited liability company,	 		 		 	a Delaware limited liability company,
		 	its manager	 		 		 	its manager
					
		 	 /s/ JOHN M PONS
	 		 		 	 /s/ JOHN M PONS

		 	Name: John M. Pons	 		 		 	Name: John M. Pons
		 	Title: Executive Vice President	 		 		 	Title: Executive Vice President
			
	Cole BN Lombard IL, LLC,	 		 	Cole BN Lauderdale FL, LLC,
	a Delaware limited liability company	 		 	a Delaware limited liability company
					
	By:	 	Cole REIT Advisors IV, LLC,	 		 	By:	 	Cole REIT Advisors IV, LLC,
		 	a Delaware limited liability company,	 		 		 	a Delaware limited liability company,
		 	its manager	 		 		 	its manager
					
		 	 /s/ JOHN M PONS
	 		 		 	 /s/ JOHN M PONS

		 	Name: John M. Pons	 		 		 	Name: John M. Pons
		 	Title: Executive Vice President	 		 		 	Title: Executive Vice President
			
	Cole BN Farmington Hills MI, LLC,	 		 	Cole BN Dallas TX, LLC,
	a Delaware limited liability company	 		 	a Delaware limited liability company
					
	By:	 	Cole REIT Advisors III, LLC,	 		 	By:	 	Cole REIT Advisors III, LLC,
		 	a Delaware limited liability company,	 		 		 	a Delaware limited liability company,
		 	its manager	 		 		 	its manager
					
		 	 /s/ JOHN M PONS
	 		 		 	 /s/ JOHN M PONS

		 	Name: John M. Pons	 		 		 	Name: John M. Pons
		 	Title: Executive Vice President	 		 		 	Title: Executive Vice President
			
	Cole BN Golden Valley MN, LLC,	 		 	Cole BN North Bay Village FL, LLC,
	a Delaware limited liability company	 		 	a Delaware limited liability company
					
	By:	 	Cole REIT Advisors IV, LLC,	 		 	By:	 	Cole REIT Advisors III, LLC,
		 	a Delaware limited liability company,	 		 		 	a Delaware limited liability company,
		 	its manager	 		 		 	its manager
					
		 	 /s/ JOHN M PONS
	 		 		 	 /s/ JOHN M PONS

		 	Name: John M. Pons	 		 		 	Name: John M. Pons
		 	Title: Executive Vice President	 		 		 	Title: Executive Vice President

  
 -19-

									
	Cole BN Stuart FL, LLC,	 		 	Cole BN Alpharetta GA, LLC,
	a Delaware limited liability company	 		 	a Delaware limited liability company
					
	By:	 	Cole REIT Advisors III, LLC,	 		 	By:	 	Cole REIT Advisors III, LLC,
		 	a Delaware limited liability company,	 		 		 	a Delaware limited liability company,
		 	its manager	 		 		 	its manager
					
		 	 /s/ JOHN M PONS
	 		 		 	 /s/ JOHN M PONS

		 	Name: John M. Pons	 		 		 	Name: John M. Pons
		 	Title: Executive Vice President	 		 		 	Title: Executive Vice President
			
	Cole BN Schaumburg IL, LLC,	 		 	Cole BN Wheeling IL, LLC,
	a Delaware limited liability company	 		 	a Delaware limited liability company
					
	By:	 	Cole REIT Advisors III, LLC,	 		 	By:	 	Cole REIT Advisors III, LLC,
		 	a Delaware limited liability company,	 		 		 	a Delaware limited liability company,
		 	its manager	 		 		 	its manager
					
		 	 /s/ JOHN M PONS
	 		 		 	 /s/ JOHN M PONS

		 	Name: John M. Pons	 		 		 	Name: John M. Pons
		 	Title: Executive Vice President	 		 		 	Title: Executive Vice President
				
	 Cole BN Woodlands TX, LLC,
 a Delaware limited liability company
	 		 		 	
					
	By:	 	Cole REIT Advisors IV, LLC,	 		 		 	
		 	a Delaware limited liability company,	 		 		 	
		 	its manager	 		 		 	
					
		 	 /s/ JOHN M PONS
	 		 		 	
		 	Name: John M. Pons	 		 		 	
		 	Title: Executive Vice President	 		 		 	

 [SIGNATURES CONTINUE ON NEXT PAGE] 

  
 -20-

									
		 	SELLERS:	 		 		 	
					
		 	Benihana National Corp.,	 		 		 	Benihana Woodlands Corp.,
		 	a Delaware corporation	 		 		 	a Texas corporation
					
		 	 /s/ RICHARD STOCKINGER
	 		 		 	 /s/ RICHARD STOCKINGER

		 	Name: Richard Stockinger	 		 		 	Name: Richard Stockinger
		 	Title: President	 		 		 	Title: President
					
		 	Benihana Lombard Corp.,	 		 		 	Benihana Wheeling Corp.,
		 	an Illinois corporation	 		 		 	a Delaware corporation
					
		 	 /s/ RICHARD STOCKINGER
	 		 		 	 /s/ RICHARD STOCKINGER

		 	Name: Richard Stockinger	 		 		 	Name: Richard Stockinger
		 	Title: President	 		 		 	Title: President
					
		 	Maxwell’s International, Inc.,	 		 		 	
		 	a Delaware corporation	 		 		 	
					
		 	 /s/ RICHARD STOCKINGER
	 		 		 	
		 	Name: Richard Stockinger	 		 		 	
		 	Title: President	 		 		 	
					
		 	The Samurai, Inc.,	 		 		 	
		 	a New York corporation	 		 		 	
					
		 	 /s/ RICHARD STOCKINGER
	 		 		 	
		 	Name: Richard Stockinger	 		 		 	
		 	Title: President	 		 		 	
					
		 	Benihana National of Florida Corp.,	 		 		 	
		 	a Delaware corporation	 		 		 	
					
		 	 /s/ RICHARD STOCKINGER
	 		 		 	
		 	Name: Richard Stockinger	 		 		 	
		 	Title: President	 		 		 	
					
		 	Benihana Schaumburg Corp.,	 		 		 	
		 	a Delaware corporation	 		 		 	
					
		 	 /s/ RICHARD STOCKINGER
	 		 		 	
		 	Name: Richard Stockinger	 		 		 	
		 	Title: President	 		 		 	

  
 -21-EX-10.19

 Exhibit 10.19 
 MASTER PURCHASE AGREEMENT 
 AND ESCROW INSTRUCTIONS 

Between 

CAPE MAY CS ASSOCIATES, LLC; and 
 GALLOWAY CS ASSOCIATES, LLC 
 as Seller 

and 

SERIES C, LLC 
 as Buyer 
 July 6, 2012 

 MASTER PURCHASE AGREEMENT 

AND ESCROW INSTRUCTIONS 
  

			
	DATED:	    	Dated to be effective as of July 6, 2012 (the “Effective Date”).
		
	PARTIES:	    	This Master Purchase Agreement and Escrow Instructions is between CAPE MAY CS ASSOCIATES, LLC, a New Jersey limited liability company; and GALLOWAY CS ASSOCIATES, LLC, a New
Jersey limited liability company, collectively as “Seller”, and SERIES C, LLC, an Arizona limited liability company, as “Buyer”.

 WHEREAS, as of the Effective Date, Seller is the fee title owner of those certain parcels of improved
property listed by address on Exhibit A attached hereto, and legally described on Exhibit A-1 attached hereto (collectively, the “Real Property”); 
 WHEREAS, as of the Effective Date, each parcel of the Real Property is improved with a building containing that certain number of square feet set forth on Exhibit A attached hereto (each, a
“Building” and, collectively, the “Buildings”). The Real Property, the Buildings and the improvements to the Real Property (collectively, the “Improvements”) are leased to Wawa, Inc.
(“Tenant”) in accordance with written leases (each, a “Lease” and, collectively, the “Leases”). The Real Property, the Buildings, the Improvements, the personal property, if any, of Seller located
on the Real Property and Seller’s interest in each of the Leases and all rents issued and profits due or to become due thereunder are hereinafter collectively referred to as the “Properties” and, individually, as a
“Property”; and 
 WHEREAS, Buyer desires to purchase the Properties from Seller and Seller desires to sell the
Properties to Buyer free and clear of all liens, all as more particularly set forth in this Master Purchase Agreement and Escrow Instructions (this “Agreement”). 

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

  
 1 

	3.	INCLUSIONS IN PROPERTIES. 

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

(1) all interest of Seller, if any, in all tenements, hereditaments and appurtenances pertaining to the Real Property; 

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

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

(4) all interest, if any, of Seller in any award made or to be made or settlement in lieu thereof for damage to the Properties or any
portion thereof by reason of condemnation, eminent domain or exercise of police power; 
 (5) all of Seller’s interest in
the Buildings, the Improvements and any other improvements and fixtures on the Real Property; 
 (6) all of Seller’s
interest, if any, in any equipment, machinery and personal property located on or used in connection with the Real Property (collectively, the “Personalty”); 
 (7) the Leases and all security deposits, if any, now or hereafter due thereunder; and, 
 (8) all of Seller’s interest, to the extent transferable, in all permits and licenses (the “Permits”), warranties (the “Warranties”), contractual rights and
intangibles (including all construction contracts, subcontracts, architectural/engineering plans and/or agreements and similar agreements) with respect to the design, development, construction, operation, maintenance, repair and/or improvement of
the Properties (collectively, the “Contracts”). 
 (b) The Transfer Documents. The Personalty located on
or used in connection with each Property shall be transferred by those certain bills of sale from Seller to Buyer, the agreed upon form of which is attached hereto as Exhibit B (collectively, the “Bills of Sale”); the Leases shall
be transferred by those certain assignments and assumptions of lease, the agreed upon form of which is attached hereto as Exhibit C (collectively, the “Assignments of Lease”); the Permits, Warranties and Contracts with respect to
each Property shall be transferred by those certain assignment and assumption agreements, the agreed upon form of which is attached hereto as Exhibit D (collectively, the “Assignment Agreements”); and each parcel of Real Property,
together with the Building and the Improvements located thereon shall be transferred and conveyed by execution and delivery of Seller’s bargain and sale deeds with covenants against grantor’s acts, the agreed upon form of which is attached
hereto as Exhibit E (collectively, the 

  
 2 

 
“Deeds”). The Bills of Sale, the Assignments of Lease, the Assignment Agreements and the Deeds are hereinafter collectively referred to as the “Transfer
Documents”. Notwithstanding the foregoing, in the event any Warranty transfer requires the approval of the applicable warrantor and/or satisfaction of any other conditions to such transfer, Seller shall use commercially reasonable efforts
to obtain such approval and satisfy all such conditions no later than COE (as defined below), including, without limitation, payment of any fees relating thereto. 
 (c) Tenant’s Property. The Property shall not include any of the property of Tenant. 
 4. PURCHASE PRICE. The aggregate price to be paid by Buyer to Seller for the Properties is FIFTEEN MILLION SEVEN HUNDRED SIXTY-THREE THOUSAND EIGHT HUNDRED TWENTY-TWO and NO/100 Dollars
($15,763,822.00)] (the “Purchase Price”), which Purchase Price is allocated among the Properties as set forth on Exhibit A attached hereto, and is payable as follows: 

(a) ONE HUNDRED EIGHTY-FIVE THOUSAND and NO/100 Dollars ($185,000.00) earnest money (said amount, plus all interest earned or accrued
thereon, the “Earnest Money Deposit”) to be deposited in escrow with First American Title Insurance Company, The Esplanade Commercial Center, 2425 E. Camelback Road, Suite 300, Phoenix, Arizona 85016, Attention: Brandon Grajewski
(“Escrow Agent”) not later than five (5) business days following the receipt by Escrow Agent of a fully-executed original of this Agreement (said receipt by Escrow Agent of both a fully-executed original of this Agreement and
the Earnest Money Deposit, the “Opening of Escrow”), which Earnest Money Deposit is to be held by Escrow Agent until released to Seller or Buyer as provided herein or paid to Seller at close of escrow (“COE”); and

 (b) Such amounts, in additional cash, or other immediately available funds (as may be increased or decreased by such sums as
are required to take into account any additional deposits, prorations, credits, or other adjustments required by this Agreement), set forth in the settlement or closing statements prepared by Escrow Agent and approved by Buyer and Seller in
connection with COE of each Property purchased by Buyer from Seller pursuant to this Agreement, to be deposited in escrow with Escrow Agent on or before COE as to each such Property, which sum is to be held by Escrow Agent until cancellation of this
Agreement as provided herein or paid to Seller at COE. 
 5. DISPOSITION OF EARNEST MONEY DEPOSIT. Seller and Buyer
hereby instruct Escrow Agent to place the Earnest Money Deposit in a federally insured interest-bearing account on behalf of Seller and Buyer in accordance with Exhibit G. The Earnest Money Deposit shall be applied as follows: 

(a) if Buyer cancels this Agreement as Buyer is so entitled to do as provided in this Agreement, the Earnest Money Deposit shall be paid
immediately to Buyer; 
 (b) if the Earnest Money Deposit is forfeited by Buyer pursuant to this Agreement, such Earnest Money
Deposit shall be paid to Seller as Seller’s agreed and total liquidated damages, it being acknowledged and agreed that it would be difficult or impossible to determine Seller’s exact damages; and 

  
 3 

 (c) if escrow closes, the Earnest Money Deposit shall be credited to Buyer, automatically
applied against the Purchase Price and paid to Seller at COE. 
 6. PRELIMINARY TITLE REPORT; TITLE AND SURVEY
OBJECTIONS. 
 (a) Within ten (10) days after the Opening of Escrow, Escrow Agent shall deliver a current Preliminary
Title Report (each, a “Report” and, collectively, the “Reports”) for an ALTA title insurance policy (each, an “Owner’s Policy” and, collectively, the “Owner’s Policies”)
on each Property to Buyer and Seller. Each Report shall show the status of title to the applicable Property as of the date of such Report and shall also describe the requirements of Escrow Agent for the issuance of an Owner’s Policy
corresponding to such Property as described herein. The cost of each Owner’s Policy shall be paid by Buyer, including any costs for an extended coverage policy, endorsements thereto (excluding, however, those endorsements required to cure one
or more Objectionable Matters (as hereinafter defined), which endorsements shall be issued at Seller’s sole cost and expense), and any lender’s title policy. In addition to the Reports, Escrow Agent shall simultaneously deliver to Buyer
complete, legible copies of all documents identified in Part Two of Schedule B of each Report. 
 (b) If Buyer is dissatisfied
with any exception to title as shown in any Report and/or any matter disclosed by any Survey (as hereinafter defined) (collectively, the “Objectionable Matters”), then Buyer shall provide Seller with written notice of such
Objectionable Matters prior to the expiration of the Study Period (as defined below) (the “Objections Notice”). If Buyer timely gives the Objections Notice to Seller, Seller shall notify Buyer in writing (which may be via e-mail or
facsimile notwithstanding anything herein to the contrary) no later than five (5) days after Seller’s receipt of the Objections Notice whether Seller has removed (or caused Escrow Agent to endorse over, at Seller’s expense, to
Buyer’s reasonable satisfaction) or otherwise cured any Objectionable Matters (the “Seller Response”). Seller’s lack of response shall be deemed as Seller’s notice that Seller has not removed or otherwise cured the
Objectionable Matters. 
 (c) In the event Seller serves (or is deemed to have served) notice to Buyer that Seller has not
removed or otherwise cured such Objectionable Matters, Buyer may elect, by written notice to Seller and Escrow Agent, within three (3) business days following its receipt of the Seller Response (or if no Seller Response is issued, the date upon
which Seller is deemed to have notified Buyer that Seller has not removed or otherwise cured the Objectionable Matters) either to (i) terminate this Agreement, or (ii) waive such Objectionable Matter(s) and accept title to all of the
Properties subject to such Objectionable Matter(s). Unless Buyer so notifies Seller and Escrow Agent, in writing, on or before the end of such three (3) business day period of Buyer’s waiver of such Objectionable Matter(s), this Agreement
shall be canceled and the Earnest Money Deposit shall be returned immediately to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement. 

  
 4 

 (d) In the event any Report is amended after the issuance of the Objections Notice (each
such Report, an “Amended Report”) to include new exceptions, or in the event any Survey is amended after the issuance of the Objection Notice (each such Survey, an “Amended Survey”) to include or depict matters not
that were not present or did not exist on the last revision date appearing on the prior Survey corresponding to the same Property, Buyer shall have until the later of (i) the date three (3) business days after Buyer’s receipt of both
such Amended Report and copies of the documents identified in the new exceptions or new requirements, or (ii) the date three (3) business days after Buyer’s receipt of the Amended Survey, as applicable, within which to either
(Y) terminate this Agreement by written notice to Seller and Escrow Agent, whereupon the Earnest Money Deposit shall be returned immediately to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any
further liability or obligation under this Agreement, or (Z) to accept the title to such Property or Properties corresponding to such Amended Report or Amended Survey without any reduction in the Purchase Price. 

(e) If Seller agrees to remove or otherwise cure the Objectionable Matters but fails or is unable to do so by the scheduled Closing Date,
or if Buyer otherwise receives notice that Seller has failed or refused to remove or otherwise cure the Objectionable Matters, Buyer shall, within ten (10) days after either said Closing Date or its receipt of notice of such failure or
inability, notify Seller and Escrow Agent in writing of Buyer’s election to either (i) declare Seller to be in default under this Agreement, or (ii) waive such Objectionable Matters whereupon the transaction shall close five
(5) business days after Buyer notifies Seller of such election. 
 (f) Seller agrees that any existing financing of Seller
secured by any Property or any part thereof shall, as to the Properties, be satisfied and discharged by Seller in full at or prior to COE (including by application of a portion of the Purchase Price at COE) and any liens or encumbrances relating
thereto shall be terminated and released of record following COE. All such liens and encumbrances are disapproved for the purposes of this Section, and Buyer need not give any further notice of disapproval as to those items. 

7. BUYER’S STUDY PERIOD. 
 (a) The Study Period. Buyer shall have until 11:59 p.m. MST on the thirty-second (32nd) day after the Effective Date (the “Study Period”), at Buyer’s sole cost, within which to
conduct and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer’s sole discretion, to determine the feasibility of acquiring the Properties, including, without limitation, Buyer’s right to: (i) review and
approve each Survey, each Lease, Seller’s operating statements with respect to each Property, and the Contracts; (ii) meet and confer with Tenant; and, (iii) obtain, review and approve an environmental study of each Property
(collectively, “Buyer’s Diligence”). Under no circumstances shall Buyer contact or interview Tenant in connection with the potential sale of the Properties to Buyer without previously coordinating such contact or interview with
Seller, and Seller shall have the right to have a representative present to participate in such interview. Except as required by law or regulations or in connection with carrying out its obligations hereunder, Buyer shall not make any notifications
or disclosures to any governmental authority or any other third party regarding any matter revealed in its inspections of the Properties without Seller’s written permission, which may be withheld in Seller’s sole discretion. To the extent
Buyer makes such permitted notifications or disclosures, Buyer shall provide Seller with copies of same. 

  
 5 

 (b) Right of Entry. Subject to the rights of Tenant in the Properties under the
Leases, Seller hereby grants to Buyer and Buyer’s agents, employees and contractors the right to enter upon each Property, at any time or times prior to the expiration of the Study Period (or COE, if Buyer elects to proceed with the transaction
as provided herein), to conduct Buyer’s Diligence. Notwithstanding anything herein to the contrary, Buyer shall not conduct or allow any physically intrusive testing of, on or under the Properties without first obtaining Seller’s prior
written consent as to the scope and timing of the due diligence to be performed. When seeking Seller’s consent to any physically intrusive testing, Buyer shall specify the type of testing to be conducted, the proposed location of the testing
and the contaminants or other environmental condition (such as an underground storage tank) for which Buyer is testing. Buyer shall coordinate (which may be telephonic or via e-mail) with Seller prior to each date Buyer or its engineers propose to
enter any Property. In consideration therefor, Buyer shall and does hereby agree to repair and restore the Properties to the condition prior to such conducting Buyer’s Diligence and indemnify and hold Seller harmless from and against any and
all claims for expenses, costs, losses, liabilities and/or damages asserted against Seller, including, but not limited to, court costs and attorneys’ fees, which may be incurred by Seller as a direct result of Buyer’s Diligence.
Buyer’s repair, indemnity and hold harmless obligation shall survive cancellation of this Agreement or COE. 
 (c)
Cancellation. Unless Buyer so notifies Seller or Escrow Agent, in writing, on or before the end of the Study Period, of Buyer’s acceptance of all of the Properties and waiver of the contingencies as set forth in this Section 7, this
Agreement shall be canceled and the Earnest Money Deposit shall be returned immediately to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement.

 8. DELIVERY OF SELLER’S DILIGENCE MATERIALS. 

(a) Deliveries to Buyer. Seller agrees to deliver to Buyer no later than three (3) business days after the Opening of Escrow
true, correct and complete copies of each of the following documents and all other information with respect to the Property in Seller’s possession or reasonably available to Seller, and to the extent not previously provided to Buyer
(collectively with such items previously provided, the “Seller’s Diligence Materials”): (i) Seller’s owner’s title insurance policy for each of the Properties issued by Commonwealth Land Title Insurance Company,
together with legible copies of all exception documents (including, without limitation, copies of any easements and covenants); (ii) surveys of each of the Properties; (iii) all environmental reports for the Properties, including (without
limitation) site assessments, remediation and tank removal reports; (iv) all Warranties and Contracts; and (v) the Leases (including all amendments thereto). Should Seller receive new or updated information regarding any of the matters set
forth in this Section 8(a) after the Effective Date and prior to COE, Seller will promptly notify Buyer of such fact and will promptly deliver complete copies thereof to Buyer. Seller may deliver the Seller’s Diligence Materials by posting
them to an electronic data site to which Buyer has access. 

  
 6 

 (b) Delivery by Buyer. If this Agreement is canceled for any reason, except
Seller’s willful default hereunder, Buyer agrees to deliver to Seller upon payment by Seller to Buyer of Buyer’s cost thereof, copies of those investigations, studies and/or tests which Buyer may have elected to obtain. 

(c) Excluded Property Records. Notwithstanding any terms to the contrary in this Agreement, (i) Seller shall not be obligated
or otherwise required to furnish or make available to Buyer any of the following (collectively, “Excluded Property Records”): (A) any appraisals or other economic evaluations of, or projections with respect to, any Property,
including, without limitation, budgets, prepared by or on behalf of Seller or any affiliate of Seller; and (B) any documents, materials or information which are subject to attorney/client, work product or similar privilege, which constitute
attorney communications with respect to the purchase of any Property by Seller, or which are subject to a confidentiality agreement, (ii) Seller’s Diligence Materials shall not include any Excluded Property Records; and (iii) Seller
shall have no obligation or liability of any kind to Buyer as a result of Seller not furnishing or making available to Buyer the Excluded Property Records. 
 9. THE SURVEYS. Promptly after the Opening of Escrow, Buyer shall cause one or more surveyors licensed in the State in which the Properties are located to complete and deliver to Escrow Agent and
Buyer a current, certified ALTA/ACSM survey of the Real Property, Building and Improvements comprising each Property (each, a “Survey” and, collectively, the “Surveys”). Each Survey shall set forth the legal
description and boundaries of the applicable parcel of Real Property and all easements, encroachments and improvements thereon. If the legal description as reflected on a Survey differs materially from that set forth in Exhibit A, at Buyer’s
request, Seller shall also execute and deliver a quitclaim, non-warranty deed for the applicable Real Property using the legal description as reflected on the Survey. 
 10. IRS SECTION 1445. Each entity comprising Seller shall furnish to Buyer in escrow by COE a sworn affidavit (the “Non-Foreign Affidavit”) stating under penalty of perjury that
such entity is not a “foreign person” as such term is defined in Section 1445(f)(3) of the Internal Revenue Code of 1986, as amended (the “Tax Code”). If Seller does not timely furnish the Non-Foreign Affidavit(s),
Buyer may withhold (or direct Escrow Agent to withhold) from the Purchase Price an amount equal to the amount required to be so withheld pursuant to Section 1445(a) of the Tax Code, and such withheld funds shall be deposited with the Internal
Revenue Service as required by such Section 1445(a) and the regulations promulgated thereunder. The amount withheld, if any, shall nevertheless be deemed to be part of the Purchase Price paid to Seller. 

11. DELIVERY OF POSSESSION. Seller shall deliver possession of each Property to Buyer at COE subject only to the rights of Tenant
under each of the Leases as approved by Buyer as part of Buyer’s Diligence. 
 12. BUYER’S CONDITIONS
PRECEDENT. In addition to all other conditions precedent set forth in this Agreement, Buyer’s obligations to perform under this Agreement and to close escrow are expressly subject to the following: 

(a) the delivery by Seller to Escrow Agent, for delivery to Buyer at COE, of the executed original Transfer Documents; 

  
 7 

 (b) the issuance of the Owner’s Policies (or a written commitment therefor) subject
only to those matters approved or deemed approved by Buyer pursuant to this Agreement; 
 (c) the delivery by Seller to Buyer at
COE of all security deposits and pre-paid/abated rents under each of the Leases, if any, in the form of a credit in favor of Buyer against the Purchase Price; 
 (d) the deposit by Seller with Buyer not later than five (5) days prior to COE of, as to each Lease, an original estoppel certificate, in a form reasonably acceptable to Buyer (i) dated not more
than thirty (30) days prior to COE, (ii) executed by Tenant and naming Buyer (or its designee), JPMorgan Chase Bank, N.A., a national banking association, as administrative agent, and any lender of which Buyer provides written notice to
Seller pursuant to the notice provisions hereof (collectively, “Lender”) as addressees, (iii) verifying the basic facts of such Lease (term, rental, expiration date, options, if any exist), (iv) confirming that there are
no defaults by the landlord under such Lease and that no percentage rents or impounds are paid pursuant to such Lease (or specifying the amount(s) thereof), (v) confirming that Tenant has waived its right of first offer under such Lease (it
being agreed, however, that Seller may provide Buyer with a separate letter from Tenant, addressed to Buyer, confirming such waiver), and (vi) if Tenant’s obligations under such Lease have been guaranteed by another person or entity, also
cover such guaranty and also be signed by such guarantor(s); 
 (e) if and to the extent required of the other parties pursuant
to the terms of any REA (defined below), the deposit by Seller with Buyer not later than five (5) days prior to COE of an original estoppel certificate executed by all other parties to any applicable reciprocal easement agreement or declaration
of covenants, conditions and/or restrictions, if any, encumbering any Property (the “REA’s”) and addressed or certified to Buyer and Lender stating that such instrument is in full force and effect and is not modified (except as
disclosed in such estoppel certificate) and, to the knowledge of the party giving the estoppel, the other party or parties thereto is/are not in default under the applicable instrument and all amounts, if any, owing under the applicable agreement
have been paid in full; 
 (f) the deposit with Escrow Agent of an executed affidavit of Seller in the form attached hereto as
Exhibit F; 
 (g) Intentionally Omitted; 
 (h) the deposit with Escrow Agent of a letter from Seller to Tenant requesting that future rent under each of the Leases be paid to Buyer; 

(i) Intentionally Omitted; 
 (j) there has been no “Insolvency Event” with respect to Tenant. As used in this subsection (j), an “Insolvency Event” shall have occurred if any Tenant becomes insolvent within the
meaning of the United States Bankruptcy Code, 11 U.S.C. Sec. 101 et seq., as amended 

  
 8 

 
(the “Bankruptcy Code”), files or notifies Seller or any affiliate of Seller that it intends to file a petition under the Bankruptcy Code, initiates a proceeding under any
similar law or statute relating to bankruptcy, insolvency, reorganization, winding up or adjustment of debts (collectively, hereinafter, an “Action”), becomes the subject of either a petition under the Bankruptcy Code or an Action,
or is not generally paying its debts as the same become due; 
 (k) Intentionally Omitted; 

(l) delivery to Buyer of the original, fully-executed Lease with respect to each Property in the possession of Seller, and a copy of all
guaranties thereof, all exhibits, amendments and other modifications thereto, and, if seller is not the original landlord under any Lease, all assignments necessary to establish that Seller is the successor-in-interest to the landlord’s rights
under such Lease; 
 (m) delivery to Buyer of originals of the Contracts, Warranties and Permits, if any, in the possession of
Seller or Seller’s agents, including, without limitation, any warranties covering the roof or any other part of the Improvements, and any correspondence with respect thereto, together with such non-proprietary leasing and property manuals,
files and records which are material in connection with the continued operation, leasing and maintenance with respect to each Property; and 
 (n) Seller’s lenders shall have approved the sale of the Properties by the payoff of the individual loan relating to each Property (and not the loans relating to any other properties) without the
requirement that Seller pay an additional fee or penalty (other than the payment of the “Make-Whole Amount” as that term is defined in each mortgage encumbering one of the Properties, and the reimbursement or payment of such costs and
expenses related to such approval as are currently set forth in such mortgage; it being agreed, however, that such costs and expenses shall not include the payment of any other consideration requested or imposed as a condition of such approval)
prior to the expiration of the Study Period. 
 If (i) the foregoing conditions have not been satisfied as to any Property by the specified
date or COE as the case may be, then Buyer shall have the right, at Buyer’s sole option, by giving written notice to Seller and Escrow Agent, to (A) extend such specified date or COE, as applicable, for such amount of time as Buyer deems
reasonably necessary to allow Seller to satisfy such conditions, or (B) terminate this Agreement in its entirety, or (ii) the condition in Section 12(d) has not been satisfied as to any Property by the specified date, then Seller
shall have the right to extend such date and the COE for up to twenty (20) days to satisfy such condition, failing which Buyer shall have the rights under clause (i) of this sentence. If this Agreement is terminated as a result of the
condition in Section 12(n) not being satisfied by the specified date, then Seller shall promptly pay to Buyer the sum of up to $25,000 for each Property to reimburse Buyer for its out-of-pocket costs and expenses, including, without limitation,
reasonable attorneys’ fees and costs, incurred in connection with this Agreement subject to Buyer providing reasonable documentation to Seller of such costs and expenses. In the event this Agreement is terminated, the Earnest Money Deposit
shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement. 

  
 9 

 13. SELLER’S REPRESENTATIONS WARRANTIES AND COVENANTS. 

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

(i) to Seller’s knowledge, there are no unrecorded leases (other than the Leases), or unrecorded liens or encumbrances, which in
any case, may affect title to any Property; 
 (ii) to Seller’s knowledge, no notice of violation has been issued with
regard to any applicable regulation, ordinance, requirement, covenant, condition or restriction relating to the present use or occupancy of any Property by any person, authority or agency having jurisdiction; 

(iii) to Seller’s knowledge, there are no intended public improvements which will or could result in any charges being assessed
against any Property which will result in a lien upon any Property; 
 (iv) to Seller’s knowledge, there is no impending
or contemplated condemnation or taking by inverse condemnation of any Property, or any portion thereof, by any governmental authorities; 
 (v) there are no suits or claims pending or to Seller’s knowledge, threatened with respect to or in any manner affecting any Property or the Tenant; 

(vi) Seller has not entered into and there is not existing any other agreement, written or oral, under which Seller is or could become
obligated to sell any Property, or any portion thereof, to a third party; 
 (vii) Seller has not taken any action before any
governmental authority having jurisdiction thereover, the object of which would be to change the present zoning of or other land-use limitations, upon any Property, or any portion thereof, or its potential use, and, to Seller’s knowledge, there
are no pending proceedings, the object of which would be to change the present zoning or other land-use limitations; 
 (viii)
Intentionally Omitted; 
 (ix) Seller has full limited liability company power and authority to execute, deliver and
perform under this Agreement as well as under the Transfer Documents, the agreed upon form of which are attached hereto as Exhibits; 
 (x) to Seller’s knowledge, no default of Seller exists under any Lease; Seller has sent no notice of default to Tenant, and to Seller’s knowledge, no default of Tenant exists under any Lease;
Seller has not received any notice or correspondence from Tenant or Tenant’s agents indicating Tenant’s desire, willingness or intent to amend, modify, assign or terminate any Lease nor any notice or correspondence requesting the consent
of Seller to any of the foregoing; 

  
 10 

 (xi) except as set forth in the Leases, Tenant is not entitled to any free rent periods or
rental abatements, concessions or other inducements under any Lease for any period subsequent to COE; 
 (xii) all amounts due
and payable by Seller under the Contracts and the REA’s (if any) have been paid in full and, to Seller’s knowledge, no default of Seller exists under any of the Contracts or any of such REA’s and, to Seller’s knowledge, no
default of any other party exists under any of the Contracts or any of such REA’s; 
 (xiii) except for Seller’s
lenders, no consent of any third party is required in order for Seller to enter into this Agreement and perform Seller’s obligations hereunder; 
 (xiv) to Seller’s knowledge, there are no, and Seller has received no written notice to the effect that, there is located in, on, under or about any Property any, “Hazardous Materials” in
violation of any applicable federal, state or local laws. “Hazardous Materials” shall mean any flammables, explosives, radioactive materials, hazardous wastes, hazardous and toxic substances or related materials, asbestos or any
material containing asbestos (including, without limitation, vinyl asbestos tile), or any other substance or material, defined as a “hazardous substance” by any federal, state, or local environmental law, ordinance, rule or regulation
including, without limitation, the Federal Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, the Federal Hazardous Materials Transportation Act, as amended, the Federal Resource Conservation and Recovery Act,
as amended, and the rules and regulations adopted and promulgated pursuant to each of the foregoing; 
 (xv) Intentionally
Omitted; 
 (xvi) to Seller’s knowledge, there are no proceedings pending for the increase of the assessed valuation
of any Property or any portion thereof; and 
 (xvii) subject to obtaining the approval of Seller’s lenders, the
execution, delivery and performance of this Agreement and the Transfer Documents, the agreed upon form of which are attached hereto as Exhibits, have not and will not constitute a breach or default under any other agreement, law or court order under
which Seller is a party or may be bound. 
 (b) Further, Seller hereby covenants to Buyer as of the Effective Date that:

 (i) Seller will not enter into nor execute any agreement, written or oral, under which Seller is or could become obligated
to sell the Properties, or any portion thereof, to a third party, without Buyer’s prior written consent; 
 (ii) Seller
will not, without the prior written consent of Buyer, take any action before any governmental authority having jurisdiction thereover, the object of which would be to change the present zoning of or other land use limitations, upon any Property, or
any portion thereof, or the potential use of any Property; 

  
 11 

 (iii) except for any item to be prorated at COE in accordance with this Agreement, all
bills or other charges, costs or expenses arising out of or in connection with or resulting from Seller’s use, ownership, or operation of the Properties up to COE shall be paid in full by Seller; 

(iv) to the extent not the obligation of Tenant under the Leases, all general real estate taxes, assessments and personal property taxes
that have become due with respect to the Properties (except for those that will be prorated at COE) have been paid or will be so paid by Seller prior to COE; 
 (v) between the Effective Date and COE or any earlier termination of this Agreement, Seller shall not execute or enter into any lease with respect to any Property, or terminate, amend, modify, extend or
waive any rights under any of the Leases without Buyer’s prior written consent, which consent may be withheld at Buyer’s discretion; 
 (vi) between the Effective Date and COE or any earlier termination of this Agreement, Seller shall, at its sole cost: 
 (1) maintain, or cause Tenant to maintain, each Property in its current condition; perform, or cause Tenant to perform, required and routine maintenance and make replacements of each part of each Property
that is tangible property (whether real or personal); and perform, or cause Tenant to perform, repairs or make replacements to any broken, defective or malfunctioning portion of any Property that is tangible property (whether real or personal) as
the relevant conditions require; 
 (2) pay or cause Tenant to pay (as applicable) prior to COE, all sums due for work,
materials or services furnished or otherwise incurred in the ownership, use or operation of the Properties up to COE; 
 (3)
comply or cause Tenant to comply with all governmental requirements applicable to the Properties; 
 (4) except as required by
a governmental agency or as permitted under the Leases without the need for Seller’s consent, not place or permit to be placed on any portion of any Property any new improvements of any kind or remove or permit any improvements to be removed
from any Property without the prior written consent of Buyer; 
 (5) not restrict, rezone, file or modify any development plan
or zoning plan or establish or participate in the establishment of any improvement district with respect to all or any portion of any Property without Buyer’s prior written consent; and 

(6) without Buyer’s prior written consent, not, by voluntary or intentional act or omission to act, further cause or create any
easement, encumbrance, or mechanic’s or materialmen’s liens arising from work ordered by Seller, and/or similar liens or encumbrances to arise or to be imposed upon any Property or any portion thereof that affects title thereto, or to
allow any amendment or modification to any existing easements or encumbrances; 

  
 12 

 (vii) Seller shall and hereby does assign to Buyer on a non-exclusive basis, effective as
of COE, all claims, counterclaims, defenses, or actions, whether at common law, or pursuant to any other applicable federal or state or other laws which Seller may have against any third parties relating to the existence of any Hazardous Materials
in, at, on, under or about any Property (including Hazardous Materials released on any Property prior to COE and continuing in existence on such Property at COE); it being understood and agreed that, notwithstanding such assignment, Seller retains
the right to make, assert or commence such claims, counterclaims, defenses or actions against such third parties; 
 (viii)
Seller shall not, without the prior written consent of Buyer, provide a copy of, nor disclose any of the terms of, this Agreement to any appraiser, and Seller shall instruct Broker (as defined below) that Broker may not provide a copy of nor
disclose any of the terms of this Agreement to any appraiser without the prior written consent of Buyer; 
 (ix) should Seller
receive notice or knowledge of any information regarding any of the matters set forth in this Section 13 after the Effective Date and prior to COE, Seller will promptly notify Buyer of the same in writing; and 

(x) Seller shall use commercially reasonable efforts to obtain from Tenant for each Property a subordination, non-disturbance agreement
signed by Tenant for each Property (“SNDAs”), for the benefit of Lender; it being agreed that the failure to obtain the SNDAs shall not be a failure of a condition under Section 12 of this Agreement or a default by Seller under
Section 20(a) below. 
 (c) The representations, warranties and covenants made by Seller in Sections 13(a) and 13(b) shall
survive COE for a period of six (6) months (the “Survival Period”). All representations and warranties of Seller made in Section 13(a) that are qualified as being to “Seller’s knowledge” are based solely on
the knowledge of Barry Howard and Christopher J. Locatell (the “Designated Representatives”). Buyer acknowledges that the Designated Representatives are named solely for the purpose of defining the scope of Seller’s knowledge
and not for the purpose of imposing any liability on or creating any duties running from the Designated Representatives to Buyer. Seller represents and warrants that the Designated Representatives are the persons affiliated with Seller who are
knowledgeable about the Properties. Buyer covenants that it will bring no action of any kind against the Designated Representatives related to or arising out of these representations and warranties. If this Agreement is not terminated by Seller
under Section 20(a), following COE, in no event will Seller’s liability for any breach of any representations, warranties or covenants of Seller set forth in this Agreement exceed, in the aggregate, $100,000 for any Property. Seller shall
have no liability with respect to any of Seller’s representations, warranties and covenants herein if, prior to the COE, Buyer has actual knowledge of any breach of a representation, warranty or covenant of Seller herein, or Buyer obtains
knowledge (from whatever source, including, without limitation, estoppel certificates from Tenant or any of the Seller’s Diligence Materials, as a result of Buyer’s Diligence the inclusion of any information in or written disclosure by
Seller or Seller’s agents and employees) that contradicts any of Seller’s representations and warranties herein, and Buyer nevertheless consummates the transaction contemplated by this Agreement.

  
 13 

 
The representations, covenants and agreements of Seller under this Agreement shall be several and not joint and several. Buyer further acknowledges and agrees that each entity constituting Seller
is only making representations and warranties as to itself and its Property and not as to the other entities constituting Seller or the other Properties. Each entity constituting Seller covenants and agrees to maintain a liquid net worth of $100,000
during the Survival Period and, if Buyer makes a claim under this Section 13(c) during the Survival Period against such entity, during such additional time until the claim is resolved. The provisions of this Section 13(c) shall survive
COE. 
 (d) Except for the express representations and warranties contained herein or in the Transfer Documents, the Properties
are being sold in an “AS IS” and “WHERE IS” condition, “WITH ALL FAULTS”, without warranty, express or implied, as to the condition, thereof or otherwise. Buyer will have conducted prior to the expiration of the Study
Period, and in all events prior to the COE, Buyer’s own investigation of the Properties and the physical conditions thereof. Buyer will have reviewed prior the expiration of the Study Period, and in all events prior to the COE, all items which
in Buyer’s judgment may affect or influence Buyer’s use of the Properties, including examining and inspecting all matters with respect to taxes, permissible uses, zoning, covenants, conditions, restrictions and all other matters which in
Buyer’s judgment bear upon the value and suitability of the Properties for Buyer’s purposes. Buyer acknowledges that Seller would not sell the Properties except on the basis described herein. Except as specifically provided in this
Agreement or in the Transfer Documents, (i) Buyer acknowledges and agrees that Seller has made no representations or warranties of any kind, either express or implied, and will at COE make no representations of any kind, in connection with the
maintenance, repair, condition, design, marketability, soils condition, environmental condition, value or the like of the Properties or otherwise, (ii) Buyer shall rely solely on Buyer’s own inspection and examination of such items and not
on any representations of Seller, and (iii) Seller shall have no responsibility, liability or obligation subsequent to the COE with respect to any conditions, including without limitation environmental conditions, hazardous materials of any
kind whatsoever, physical condition, structural condition, the presence of any environmental problems or the use, presence, storage, release, discharge, or migration of Hazardous Materials on, in, under or around the Properties, regardless of when
such Hazardous Materials were first introduced in, on or about the Properties. Except as otherwise specifically provided in this Agreement or in the Transfer Documents, Buyer hereby releases Seller and its members, shareholders, officers, directors,
partners, employees, agents, successors, and assigns from any liability associated with the condition of the Properties or any reports, surveys, studies, tests or other similar materials relating to the Properties, or any matters disclosed therein,
or any inaccuracies or omissions contained therein. The provisions of this Section 13(d) shall survive COE or the earlier termination of this Agreement. 
 Notwithstanding the other provisions of this Section 13(d) to the contrary, the representations, acknowledgments, disclaimers, waivers, releases and matters set forth in this Section 13(d) shall
not (A) relieve Seller of its liability for any breach of Seller’s representations, warranties or covenants contained in this Agreement and/or any Transfer Documents executed and delivered by Seller, (B) relieve Seller of its
liability for Seller’s fraud in connection with the Property or the transactions contemplated by this Agreement, (C) relieve Seller of its liability for any breach by Seller of an express obligation of Seller (1) under this Agreement
which by its terms survives 

  
 14 

 
the COE or (2) or in any Transfer Document executed by Seller pursuant to this Agreement which by its terms survives the COE, or (D) prevent Buyer from defending itself in any
governmental or third party environmental or other claim asserted against Buyer after COE with respect to any environmental matters occurring prior to the date of COE by alleging in good faith that Seller and not Buyer is liable for such claims; it
being understood and agreed, however, that Buyer shall not seek any indemnity or contribution from Seller under this clause (D) unless it determined by a court of competent jurisdiction that Seller has breached its representation in
Section 13(a)(xiv) as to such matters, but, in such case, subject to the limitations in Section 13(c). 
 14. BUYER’S
REPRESENTATIONS WARRANTIES AND COVENANTS. 
 (a) Buyer hereby represents and warrants to Seller as of the Effective Date and
again as of COE that: 
 (i) Buyer has full limited liability company power and authority to execute, deliver and perform under
this Agreement as well as under the Transfer Documents, the agreed upon forms of which are attached hereto as Exhibits; 
 (ii)
there are no suits or claims pending or to Buyer’s knowledge, threatened against Buyer which may in any manner whatsoever affect the validity or enforceability of this Agreement or any of the Transfer Documents, the agreed upon forms of which
are attached hereto as Exhibits; 
 (iii) the execution, delivery and performance of this Agreement and the Transfer Documents,
the agreed upon forms of which are attached hereto as Exhibits, have not and will not constitute a breach or default under any other agreement, law or court order under which Buyer is a party or may be bound; 

(iv) Buyer has not (A) commenced a voluntary case, or had entered against it a petition, for relief under any federal bankruptcy
act or any similar petition, order or decree under any federal or state law or statute relative to bankruptcy, insolvency or other relief for debtors, (B) caused, suffered or consented to the appointment of a receiver, trustee, administrator,
conservator, liquidator or similar official in any federal, state or foreign judicial or non-judicial proceeding, to hold, administer and/or liquidate all or substantially all of its property, or (C) made an assignment for the benefit of
creditors; 
 (v) Buyer has obtained the consent of all third parties, if any, required in order for Buyer to enter into this
Agreement, and Buyer shall have obtained no later than the Closing Date, the consent of any third party that is required in order for Buyer to perform Buyer’s obligations hereunder at COE; and 

(vi) Neither Buyer nor any of its affiliates, is a person or entity whom U.S. persons or entities are restricted from doing business
under regulations of the OFAC of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order
Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action. 

  
 15 

 (b) Further, Buyer hereby covenants to Seller as of the Effective Date that should Buyer
receive notice or knowledge of any information regarding any of the matters set forth in this Section 14 after the Effective Date and prior to COE, Buyer will promptly notify Seller of the same in writing. 

All representations, warranties and covenants made in this Agreement by Buyer shall survive the execution and delivery of this Agreement
and COE. Buyer shall and does hereby indemnify against and hold Seller harmless from any loss, damage, liability and expense, together with all court costs and attorneys’ fees, if awarded by a court of law, which Seller may incur, by reason of
any material misrepresentation by Buyer or any material breach of any of Buyer’s warranties or covenants. Buyer’s indemnity and hold harmless obligations shall survive COE. 

15. RENTS AND DEPOSITS. Seller and Buyer agree that, in addition to all other conditions and covenants contained herein, Seller
shall deliver to Buyer and Escrow Agent not later than the day immediately prior to COE information, certified by Seller to be true and accurate as of the date thereof and as of the date of COE, with respect to (a) the amount of Tenant’s
security deposit under the Leases, if any, and (b) prepaid and/or abated rents, including, without limitation, the amount thereof and the date to which such rents have been paid. 

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

(a) the Parties warrant to one another that they have not dealt with any finder, broker or realtor in connection with this Agreement
except Marcus & Millichap (Attn: Mark Taylor) (“Broker”); 
 (b) if any person shall assert a claim to a
finder’s fee or brokerage commission on account of alleged employment as a finder or broker in connection with this Agreement (including Broker), the Party under whom the finder or broker is claiming shall indemnify and hold the other Party
harmless from and against any such claim and all costs, expenses and liabilities incurred in connection with such claim or any action or proceeding brought on such claim, including, but not limited to, counsel and witness fees and court costs in
defending against such claim. The provisions of this subsection shall survive cancellation of this Agreement or COE; and 
 (c)
Seller shall be responsible for payment of a commission to Broker pursuant to a separate written agreement between Seller and Broker, which commission shall be paid at COE. 
 17. CLOSE OF ESCROW. COE as to the Properties shall be on or before 5:00 p.m. MST on August 31, 2012, or such earlier date as Seller and Buyer may agree in writing (such date, the
“Closing Date”). Seller may extend the Closing Date as to all (but not less than all) of the Properties until September 17, 2012, upon delivery of written notice to extend the Closing Date to Escrow Agent and Seller.

  
 16 

 18. ASSIGNMENT. This Agreement may not be assigned by Seller without the prior
written consent of Buyer which consent shall not be unreasonably withheld. Buyer may assign its rights under this Agreement to one or more affiliates of Buyer without seeking or obtaining Seller’s consent. Such assignment shall not become
effective until each assignee executes an instrument whereby such assignee expressly assumes all unperformed obligations of Buyer under this Agreement. Buyer may also designate someone other than Buyer, as grantee and/or assignee, under the Transfer
Documents by providing written notice of such designation at least five (5) days prior to COE. No assignment shall release or otherwise relieve Buyer from any obligations hereunder; provided, however, with respect to any
assignment, if COE occurs the assigning party (but not the assignee) shall be relieved of all its obligations arising under this Agreement before, on and after COE. Buyer and its assignee shall solely be responsible for any realty transfer tax
imposed in connection with any such assignment, and shall, jointly and severally, indemnify and hold Seller harmless from and against any claim relating to such tax and all costs, expenses and liabilities incurred in connection with such claim or
any action or proceeding brought on such claim, including, but not limited to, counsel and witness fees and court costs in defending against such claim. 
 19. RISK OF LOSS. If a Risk of Loss Event (as defined below) occurs as a result of a fire, casualty, taking or condemnation affecting a Property before COE, Buyer shall have the
right, at Buyer’s sole option, by giving written notice to Seller and Escrow Agent to terminate this Agreement in its entirety. In the event this Agreement is terminated in its entirety, the Earnest Money Deposit shall be paid immediately by
Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement. A “Risk of Loss Event” shall be deemed to have occurred hereunder in the
event that there occurs prior to COE (i) a fire or other casualty that causes damage to any Property and the cost to repair the damage therefrom exceeds Two Hundred Fifty Thousand Dollars ($250,000) or is not covered by insurance carried by
Seller or Tenant, other than any deductible under any such insurance policies, (ii) a taking or condemnation of any Property or any part thereof with respect to which written notice of a proposed condemnation or taking is received, a
condemnation proceeding is commenced, a condemnation proceeding is concluded or all or any part of any Property is conveyed in lieu of condemnation prior to COE, which results or could result in the access to such Property needing to be relocated or
more than ten percent (10%) of such Property being taken, or (iii) any fire, casualty or proposed or actual taking or condemnation that (A) gives rise to a Lease termination or a Tenant right to terminate the applicable Lease which
has not been permanently waived in writing, or (B) gives rise to a Tenant right to permanently reduce, abate or offset its rent under the applicable Lease which has not been permanently waived in writing. In the event of any fire, casualty,
taking or condemnation which does not result in a termination of this Agreement, Seller shall at COE and as a condition precedent thereto, pay Buyer or credit Buyer against the Purchase Price the amount of any insurance or condemnation proceeds, or
assign to Buyer, as of COE and in a form acceptable to Buyer, all rights or claims for relief to the same, to the extent payable to Seller and not Tenant under the Leases, and credit to Buyer an amount equal to the deductible (if any), to the extent
not payable by Tenant under the applicable Lease.  

  
 17 

 20. REMEDIES. 

(a) Seller’s Breach. If Seller breaches this Agreement in any material respect, and such breach continues for a period of
fifteen (15) days after Buyer notifies Seller of such breach, Buyer may, as Buyer’s sole remedy, by written notice to Seller and Escrow Agent, cancel this Agreement, whereupon (i) the Earnest Money Deposit shall be paid immediately by
Escrow Agent to Buyer, (ii) Seller shall pay to Buyer the sum of $185,000 as Buyer’s agreed and total liquidated damages, Seller and Buyer hereby acknowledging and agreeing that it would be difficult or impossible to determine Buyer’s
exact damages, (iii) Seller shall promptly pay to Buyer the sum of up to $25,000 for each Property to reimburse Buyer for its out-of-pocket costs and expenses, including, without limitation, reasonable attorneys’ fees and costs, incurred
in connection with this Agreement subject to Buyer providing reasonable documentation to Seller of such costs and expenses, and (iv) except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or
obligation hereunder. Buyer waives all other rights and remedies it may have at law or in equity against Seller with respect to such breach; provided, however that Seller hereby acknowledges and agrees, (A) in the event that Buyer does not
cancel this Agreement pursuant to this Section 20(a) and purchases the Properties, that the provisions of this Section 20(a) shall not limit any rights or remedies that Buyer may have against Seller after COE pursuant to
Section 13(c), and (B) the provisions of this Section 20(a) shall not limit the rights or remedies that Buyer may have against Seller pursuant to the indemnification under Section 16. 

(b) Buyer’s Breach. If Buyer breaches this Agreement in any material respect, and such breach continues for a period of
fifteen (15) days after Seller notifies Buyer of such breach, Seller, as Seller’s sole remedy, shall be entitled to retain the Earnest Money Deposit in accordance with Section 5(b) as Seller’s agreed and total liquidated damages.
Seller hereby waives any right to seek any equitable or legal remedies against Buyer. 
 21. ATTORNEYS’ FEES. If
there is any litigation to enforce any provisions or rights arising under this Agreement, the unsuccessful party in such litigation, as determined by the court, agrees to pay the successful party, as determined by the court, all costs and expenses,
including, but not limited to, reasonable attorneys’ fees incurred by the successful party, such fees to be determined by the court. For purposes of this Section 21, a party will be considered to be the “successful party” if
(a) such party initiated the litigation and substantially obtained the relief which it sought (whether by judgment, voluntary agreement or action of the other party, trial, or alternative dispute resolution process), (b) such party did not
initiate the litigation and either (i) received a judgment in its favor, or (ii) did not receive judgment in its favor, but the party receiving the judgment did not substantially obtain the relief which it sought, or (c) the other
party to the litigation withdrew its claim or action without having substantially received the relief which it was seeking. 

22. NOTICES. 
 (a) Addresses. Except as otherwise required by law, any notice required or permitted hereunder shall be in writing and shall be given by personal delivery, or by deposit in the U.S. Mail, certified
or registered, return receipt requested, postage prepaid, addressed to the Parties at the addresses set forth below, or at such other address as a Party may designate in 

  
 18 

 
writing pursuant hereto, or by telecopy (fax), or any express or overnight delivery service (e.g., Federal Express), delivery charges prepaid: 

 

							
	if to Seller:	  		  	BPG Properties, Ltd.
		  		  	770 Township Line Road, Suite 150
		  		  	Yardley, PA 19067
		  		  	Attn:	  	Christopher J. Locatell
		  		  	Tel.:	  	(215) 575-2349
		  		  	Fax:	  	(215) 575-2314
			
	with copies to:	  		  	Duane Morris LLP
		  		  	30 S. 17th Street
		  		  	Philadelphia, PA 19103-4196
		  		  	Attn:	  	David Augustin
		  		  	Tel.:	  	(215) 979-1313
		  		  	Fax:	  	(215) 979-1020
			
	if to Buyer:	  		  	Series C, LLC
		  		  	c/o Cole Real Estate Investments
		  		  	2325 E. Camelback Road, Suite 1100
		  		  	Phoenix, AZ 85016
		  		  	Attn:	  	Legal Department
		  		  	Tel.:	  	(602) 778-8700
		  		  	Fax:	  	(480) 449-7012
			
	with copies to:	  		  	Snell & Wilmer LLP
		  		  	One Arizona Center
		  		  	Phoenix, AZ 85004-2202
		  		  	Attn:	  	John F. Baird, II
		  		  	Tel.:	  	(602) 382-6397
		  		  	Fax:	  	(602) 382-6070
			
	if to Escrow Agent:	  		  	First American Title Insurance Company
		  		  	2425 E. Camelback Road, Suite 300
		  		  	Phoenix, AZ 85016
		  		  	Attn:	  	Mr. Brandon Grajewski
		  		  	Tel.:	  	(602) 567-8145
		  		  	Fax:	  	(602) 567-8101

 (b) Effective Date of Notices. Notice shall be deemed to have been given on the date on which
notice is delivered, if notice is given by personal delivery or telecopy, and on the date of deposit in the mail, if mailed or deposited with the overnight carrier, if used. Notice shall be deemed to have been received (i) on the date on which
the notice is received, if notice is given by telecopy or personal delivery, (ii) on the first business day following deposit with an overnight carrier, if used, and (iii) on the second (2nd) day following deposit in the U.S. Mail, if
notice is mailed. If escrow has opened, a copy of any notice given to a party shall also be given to Escrow Agent by regular U.S. Mail or by any other method provided for herein. 

  
 19 

 23. CLOSING COSTS. 

(a) Closing Costs. Seller and Buyer agree to pay closing costs as indicated in this Agreement and in the escrow instructions
attached hereto as Exhibit F, and by this reference incorporated herein (the “Escrow Instructions”). At COE, Seller shall pay (i) the costs of releasing all liens, judgments, and other encumbrances that are to be released and
of recording such releases, (ii) one-half the fees and costs due Escrow Agent for its services, (iii) the seller’s portion of any transfer tax associated with the sale of the Properties, to be allocated in accordance with local custom
(including the realty transfer fee imposed pursuant to N.J.S.A. 46:15-7 and N.J.S.A. 46:15-7.1), and (iv) all other costs to be paid by Seller under this Agreement. At COE, Buyer shall pay (i) one-half the fees and costs due Escrow Agent
for its services, (ii) the cost of the Surveys, (iii) the purchaser’s portion of any transfer tax associated with the sale of the Properties, to be allocated in accordance with local custom (including the transfer fee imposed by
N.J.S.A. § 46:15-7.2(8)), and (iv) all other costs to be paid by Buyer under this Agreement. Except as otherwise provided for in this Agreement, Seller and Buyer will each be solely responsible for and bear all of their own respective
expenses, including, without limitation, expenses of legal counsel, accountants, and other advisors incurred at any time in connection with pursuing or consummating the transaction contemplated herein. Except to the extent payable by Tenant under
the Leases, real estate taxes shall be prorated based upon the current valuation and latest available tax rates. All prorations shall be calculated through escrow as of COE based upon the latest available information, including, without limitation,
a credit to Buyer for any rent prepaid by Tenant for the period beginning with and including the date on which the closing occurs through and including the last day of the month in which the closing occurs. All other credits to Buyer shall be
similarly prorated. Any other closing costs not specifically designated as the responsibility of either Party in the Escrow Instructions or in this Agreement shall be paid by Seller and Buyer according to the usual and customary allocation of the
same based on the location of the Properties by Escrow Agent. Seller agrees that all closing costs payable by Seller shall be deducted from Seller’s proceeds otherwise payable to Seller at COE. Buyer shall deposit with Escrow Agent sufficient
cash to pay all of Buyer’s closing costs. Except as provided in this Section 23(a), Seller and Buyer shall each bear their own costs in regard to this Agreement. 
 (b) Post-Closing Adjustment. If after COE, the parties discover any errors in adjustments and apportionments or additional information becomes available which would render the closing prorations
inaccurate, the same shall be corrected as soon after their discovery as possible. The provision of this Section 23(b) shall survive COE except that no adjustment shall be made later than nine (9) months after COE unless prior to such date
the Party seeking the adjustment shall have delivered a written notice to the other Party specifying the nature and basis for such claim. In the event that such claim is valid, the Party against whom the claim is sought shall have ten (10) days
in which to remit any adjustment due. 
 (c) Instructions. This Agreement, together with the Escrow Instructions, shall
constitute escrow instructions for the transaction contemplated herein. Such escrow instructions shall be construed as applying principally to Escrow Agent’s employment. 

  
 20 

 24. ESCROW CANCELLATION CHARGES. If escrow fails to close because of Seller’s
default, Seller shall be liable for any cancellation charges of Escrow Agent. If escrow fails to close because of Buyer’s default, Buyer shall be liable for any cancellation charges of Escrow Agent. If escrow fails to close for any other
reason, Seller and Buyer shall each be liable for one-half of any cancellation charges of Escrow Agent. The provisions of this Section 24 shall survive cancellation of this Agreement. The cancellation charges for Escrow Agent shall not exceed
$1,000 per Property. 
 25. APPROVALS. Concerning all matters in this Agreement requiring the consent or approval of any
Party, the Parties agree that any such consent or approval shall not be unreasonably withheld unless otherwise provided in this Agreement. 
 26. LIABILITY OF SELLER. The responsibilities, obligations, representations, covenants and agreements of Seller under this Agreement shall be several and not joint and several as among the parties
comprising Seller. 
 27. ADDITIONAL ACTS. The Parties agree to execute promptly such other documents and to perform such
other acts as may be reasonably necessary to carry out the purpose and intent of this Agreement. 
 28. GOVERNING LAW.
This Agreement shall be governed by and construed in accordance with the laws of the state in which the Properties are located. 

29. CONSTRUCTION. The terms and provisions of this Agreement represent the results of negotiations among the Parties, each of
which has been represented by counsel of its own choosing, and neither of which has acted under any duress or compulsion, whether legal, economic or otherwise. Consequently, the terms and provisions of this Agreement shall be interpreted and
construed in accordance with their usual and customary meanings, and the Parties each hereby waive the application of any rule of law which would otherwise be applicable in connection with the interpretation and construction of this Agreement that
ambiguous or conflicting terms or provisions contained in this Agreement shall be interpreted or construed against the Party whose attorney prepared the executed Agreement or any earlier draft of the same. 

30. TIME OF ESSENCE. Time is of the essence of this Agreement. However, if this Agreement requires any act to be done or action to
be taken on a date which is a Saturday, Sunday or legal holiday, such act or action shall be deemed to have been validly done or taken if done or taken on the next succeeding day which is not a Saturday, Sunday or legal holiday, and the successive
periods shall be deemed extended accordingly. 
 31. INTERPRETATION. If there is any specific and direct conflict
between, or any ambiguity resulting from, the terms and provisions of this Agreement and the terms and provisions of any document, instrument or other agreement executed in connection herewith or in furtherance hereof, including any Exhibits hereto,
the same shall be consistently interpreted in such manner as to give effect to the general purposes and intention as expressed in this Agreement which shall be deemed to prevail and control. 

  
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 32. HEADINGS. The headings of this Agreement are for reference only and shall not
limit or define the meaning of any provision of this Agreement. 
 33. FAX AND COUNTERPARTS. This Agreement may be
executed by facsimile, by email (in “.pdf” format) and/or in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same instrument.

 34. INCORPORATION OF EXHIBITS BY REFERENCE. All Exhibits to this Agreement are fully incorporated herein as though set
forth at length herein. 
 35. SEVERABILITY. If any provision of this Agreement is unenforceable, the remaining
provisions shall nevertheless be kept in effect. 
 36. ENTIRE AGREEMENT. This Agreement contains the entire agreement
between the Parties and supersedes all prior agreements, oral or written, with respect to the subject matter hereof. The provisions of this Agreement shall be construed as a whole and not strictly for or against any Party. 

37. WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES TRIAL BY JURY IN ANY PROCEEDING BROUGHT BY THE OTHER PARTY IN CONNECTION WITH
ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSACTION, THIS AGREEMENT, THE PROPERTIES OR THE RELATIONSHIP OF BUYER AND SELLER HEREUNDER. THE PROVISIONS OF THIS SECTION SHALL SURVIVE COE (AND NOT BE MERGED THEREIN) OR ANY EARLIER
TERMINATION OF THIS AGREEMENT. 
 38. SURVIVAL. Except as expressly provided in this Agreement or in the Transfer
Documents, the representations, warranties, covenants and agreement of the parties set forth in this Agreement shall not survive COE or the earlier termination thereof in accordance with its terms. 

39. SEC S-X 3-14 Audit. In order to enable Buyer to comply with reporting requirements, Seller agrees to
provide Buyer and its representatives information sufficient for Buyer to comply with SEC Rule 3-14 of Regulation S-X, including Seller’s most current financial statements relating to the financial operation of the Property for the
current fiscal year and the most recent pre-acquisition fiscal year, and upon request, support for certain operating revenues and expenses specific to the Property (collectively, the “SEC Filing Information”). Seller understands
that certain of such financial information may be included in filings required to be made by Buyer with the U.S. Securities and Exchange Commission. Seller may charge an hourly fee (not to exceed $350 per hour) for the time incurred by
Seller’s employees in connection with Seller performing its obligations under this Section 39. This Section 39 shall survive Closing for a period of one (1) year. 

40. PURCHASE OF PROPERTIES. The parties acknowledge that it is in the intent of the parties that Buyer shall purchase all of the
Properties subject to the terms of this Agreement and that, if Buyer exercises it rights under this Agreement to terminate this Agreement, such termination shall be as to all of the Properties. Buyer shall have no right under this Agreement to
purchase less than all of the Properties. 

  
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 41. SELLER’S CONDITIONS PRECEDENT. In addition to all other conditions precedent
set forth in this Agreement, Seller’s obligations to perform under this Agreement and to close escrow are expressly subject to the following: 
 (a) the delivery by Buyer to Escrow Agent, for delivery to Seller at COE, of the executed original Transfer Documents to which Buyer is a signatory; 

(b) the delivery by Buyer of the balance of the Purchase Price to Escrow Agent for delivery to Seller at COE; and 

(c) Seller’s lenders shall have approved the sale of the Properties by the payoff of the individual loan relating to each Property
(and not the loans relating to any other properties) without the requirement that Seller pay an additional fee or penalty (other than the payment of the “Make-Whole Amount” as that term is defined in each mortgage encumbering one of the
Properties, and the reimbursement or payment of such costs and expenses related to such approval as are currently set forth in such mortgage; it being agreed, however, that such costs and expenses shall not include the payment of any other
consideration requested or imposed as a condition of such approval) prior to the expiration of the Study Period. 
 If the foregoing conditions
have not been satisfied as to any Property by the specified date or COE as the case may be, then Seller shall have the right, at Seller’s sole option, by giving written notice to Buyer and Escrow Agent, to (i) extend such specified date or
COE, as applicable, for such amount of time as Seller deems reasonably necessary to allow Buyer or Seller’s lender to satisfy such conditions, or (ii) terminate this Agreement in its entirety (subject, however, in the event the condition
in Section 41(c) is not satisfied, to the provisions of Section 12 requiring Seller to pay to Buyer the sum of up to $25,000 for each Property to reimburse Buyer for its out-of-pocket costs and expenses, including, without limitation,
reasonable attorneys’ fees and costs, incurred in connection with this Agreement subject to Buyer providing reasonable documentation to Seller of such costs and expenses). In the event this Agreement is terminated in its entirety, the Earnest
Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement. 

42. CROSS-DEFAULT; CROSS-TERMINATION. Seller and Buyer hereby agree and confirm that: (a) any default of a party under the
Purchase Agreement and Escrow Instructions of even date herewith, by and between Gap CS Associates I, L.P., a Pennsylvania limited partnership, as seller, and Cole WW Gap PA, LLC, a Delaware limited liability company, as buyer
(the “PA Agreement”), shall also be deemed a default of such corresponding Party (i.e., Seller or Buyer) under this Agreement; and (b) any default of a Party under this Agreement shall also be deemed a default of such
corresponding party under the PA Agreement. Seller and Buyer hereby agree and confirm that: (x) if the PA Agreement is terminated for any reason, then this Agreement shall be deemed terminated for the same reason, and (y) if this Agreement
is terminated for any reason, then the PA Agreement shall be deemed terminated for the same reason, subject in each instance to all of the respective rights, remedies, obligations and 

  
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responsibilities of the parties arising from such termination as set forth in the applicable agreement. For purposes of this Section 42, a “default” shall include the expiration
without cure of any applicable notice and cure period set forth in this Agreement or the PA Agreement. The Parties further agree that if the Closing Date is extended under this Agreement, the Closing Date (as defined in the PA Agreement) shall be
deemed extended to the same date, and if the Closing Date (as defined in the PA Agreement) is extended, the Closing Date under this Agreement shall be deemed extended to the same date. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.] 

  
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 IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement as of the Effective Date.

  

									
	SELLER:	 		 		 	CAPE MAY CS ASSOCIATES, LLC, a New Jersey limited liability company
					
		 		 		 	By:	 	 /s/ Barry Howard

		 		 		 	Its:	 	Chairman of the Board
				
		 		 		 	GALLOWAY CS ASSOCIATES, LLC, a New Jersey limited liability company
					
		 		 		 	By:	 	 /s/ Barry Howard

		 		 		 	Its:	 	Chairman of the Board
				
	BUYER:	 		 		 	SERIES C, LLC, an Arizona limited liability company
					
		 		 		 	By:	 	 /s/ Todd J. Weiss

		 		 		 	Its:	 	Authorized Officer

  
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