Document:

Orlando, Florida Real Estate Purchase Agreement

 Exhibit 10.26 

REAL ESTATE PURCHASE AGREEMENT 

by and between 

THE OXFORD FUND/ORLANDO, L. P., 

a Pennsylvania limited partnership, 

as “Seller” 

and 

BC DEVELOPMENT CO., LLC, 

a Missouri limited liability company, 

as “Buyer” 

 TABLE OF CONTENTS 

 

					
	  	  	 	  	Page
		
	 ARTICLE 1 - SALE OF PROPERTY
	  	1
			
	 1.1
	  	PROPERTY TO BE SOLD	  	1
	 1.2
	  	PURCHASE AND SALE	  	2
	 1.3
	  	PURCHASE PRICE	  	2
	 1.4
	  	DEPOSIT	  	2
	 1.5
	  	CLOSING DATE	  	3
		
	 ARTICLE 2 - TITLE AND SURVEY
	  	3
			
	 2.1
	  	TITLE AND SURVEY	  	3
	 2.2
	  	REVIEW OF THE PRELIMINARY REPORT, SURVEY AND UCC SEARCHES;
OBJECTION; APPROVAL OR TERMINATION	  	3
	 2.3
	  	REQUIRED TITLE CONDITION	  	4
		
	 ARTICLE 3 - INSPECTION AND DUE DILIGENCE PERIOD
	  	4
			
	 3.1
	  	ACCESS	  	4
	 3.2
	  	DUE DILIGENCE PERIOD	  	5
	 3.3
	  	ITEMS TO BE PROVIDED BY SELLER	  	6
	 3.4
	  	BUYER’S POSSIBLE EARLY TERMINATION	  	6
	 3.5
	  	CONSEQUENCES OF BUYER’S EARLY TERMINATION	  	6
		
	 ARTICLE 4 - REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	6
			
	 4.1
	  	SELLER’S REPRESENTATIONS	  	6
	 4.2
	  	BUYER’S REPRESENTATIONS	  	11
	 4.3
	  	SURVIVABILITY OF REPRESENTATIONS AND WARRANTIES	  	12
	 4.4
	  	SELLER COVENANTS	  	12
	 4.5
	  	INDEMNIFICATIONS	  	13
		
	 ARTICLE 5 - CLOSING
	  	14
			
	 5.1
	  	ESCROW HOLDER	  	14
	 5.2
	  	ESCROW INSTRUCTIONS; OPENING OF ESCROW	  	14
	 5.3
	  	CLOSING	  	15
	 5.4
	  	CONDITIONS PRECEDENT FAVORING BUYER	  	15
	 5.5
	  	CONDITIONS PRECEDENT FAVORING SELLER	  	16
	 5.6
	  	SELLER’S DELIVERIES	  	17
		
	 ARTICLE 6 - TERMINATION AND DEFAULT
	  	21
			
	 6.1
	  	BUYER DEFAULT	  	21
	 6.2
	  	SELLER’S DEFAULT	  	21
		
	 ARTICLE 7 - CASUALTY DAMAGE OR CONDEMNATION
	  	22
			
	 7.1
	  	CASUALTY	  	22
	 7.2
	  	CONDEMNATION	  	22
		
	 ARTICLE 8 - REAL ESTATE COMMISSION
	  	22
		
	 ARTICLE 9 - MISCELLANEOUS
	  	23
			
	 9.1
	  	ENTIRE AGREEMENT	  	23
	 9.2
	  	BINDING ON SUCCESSORS AND ASSIGNS	  	23

  

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	 9.3
	  	ASSIGNMENT BY BUYER	  	23
	 9.4
	  	WAIVER	  	23
	 9.5
	  	GOVERNING LAW	  	23
	 9.6
	  	COUNTERPARTS	  	23
	 9.7
	  	NOTICES	  	24
	 9.8
	  	INTENTIONALLY OMITTED	  	24
	 9.9
	  	IRS REAL ESTATE SALES REPORTING	  	25
	 9.10
	  	TIME PERIODS	  	25
	 9.11
	  	MODIFICATION OF AGREEMENT	  	25
	 9.12
	  	FURTHER INSTRUMENTS	  	25
	 9.13
	  	DESCRIPTIVE HEADINGS; WORD MEANING	  	25
	 9.14
	  	BUSINESS DAY	  	25
	 9.15
	  	CONSTRUCTION OF AGREEMENT	  	25
	 9.16
	  	SEVERABILITY	  	25
	 9.17
	  	EXCLUSIVITY	  	26
	 9.18
	  	SECTION 1031 EXCHANGE	  	26

 SCHEDULE OF
EXHIBITS 
  

			
	EXHIBIT “A”	  	LEGAL DESCRIPTION
	EXHIBIT “B”	  	LIST OF PERSONAL PROPERTY
	EXHIBIT “C”	  	INTENTIONALLY OMITTED
	EXHIBIT “D”	  	LIST OF CURRENT PROPERTY CONTRACTS
	EXHIBIT “E”	  	FORM OF DEED
	EXHIBIT “F”	  	BILL OF SALE AND ASSIGNMENT
	EXHIBIT “G”	  	PROPERTY INFORMATION
	EXHIBIT “H”	  	FORM OF EASEMENT ESTOPPEL
	EXHIBIT “I”	  	FORM OF IRREVOCABLE NOTICE

  

 ii 

 REAL ESTATE PURCHASE AGREEMENT 

THIS REAL ESTATE PURCHASE AGREEMENT (this “Agreement”) is entered into as of the
2nd day of August, 2010 (the “Effective Date”),
by and between The Oxford Fund/Orlando, L. P., a Pennsylvania limited partnership (“Seller”), and BC DEVELOPMENT CO., LLC, a Missouri limited liability company or its assigns (“Buyer”), for the purchase of certain real property
more particularly described herein. 
 ARTICLE 1 - SALE OF PROPERTY 

1.1 Property To Be Sold. Subject to the terms and provisions hereof, Seller agrees to sell to Buyer and Buyer agrees to purchase
from Seller upon the terms and conditions of this Agreement: 
 1.1.1 All of the land described and/or shown on
Exhibit “A” attached hereto, together with all privileges, rights, easements and appurtenances belonging to such land, including without limitation, all right, title and interest (if any) of Seller in and to any streets,
alleys, passages, usufructs and other rights-of-way or appurtenances included in, adjacent to or used in connection with such land and all right, title and interest (if any) of Seller in all mineral and development rights appurtenant to such land
(collectively, the “Land”). 
 1.1.2 All buildings, structures and other improvements and all fixtures,
systems and facilities, if any, owned by Seller and located on the Land (the “Improvements”). 
 1.1.3
All equipment, machinery, signs and other tangible personal property of every kind and nature, if any, owned by Seller and installed, located or situated on or used in connection with the operation of the Land or Improvements, including, without
limitation, sculptures, paintings, artwork, and the personal property listed on Exhibit “B” attached hereto (collectively, the “Personal Property”). 

1.1.4 All of Seller’s rights in the lease between Seller and the United States of America (the “Tenant”),
dated February 12, 2007, (as amended, the “Lease”), and any leases that may be subsequently entered into in accordance with this Agreement, and including Seller’s rights to any tenant deposit held by Seller (the “Tenant
Deposit”) pursuant to the Lease. 
 1.1.5 All of Seller’s right, title and interest, if any, in all
intangible assets of any nature relating to the Land, the Improvements or the Personal Property, including, without limitation, all of Seller’s right, title, and interest in all (i) warranties and guaranties relating to the Improvements or
Personal Property in the possession of Seller, (ii) all use, occupancy, building and operating licenses, permits, approvals, and development rights (iii) any trade name or names used or utilized in connection with the Land and
Improvements, (iv) all plans and specifications related to the Land and Improvements, in each case to the extent that Seller has possession of same and may legally transfer the same unilaterally (the “Intangible Property”).

  

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 1.1.6 All of Seller’s rights, if any, in all service contracts (other
than management and leasing contracts) affecting the Land or Improvements as set forth on Exhibit “D” attached hereto (the “Property Contracts”), to the extent Buyer assumes the same in accordance with
Section 4.4.2 below. 
 1.1.7 All rights, which the Seller may have, if any, in and to any Tenant data,
telephone numbers and listings, all master keys and keys to common areas, all good will, if any, and any and all other rights, privileges and appurtenances owned by Seller and related to or used in connection with the existing business operation of
the Land and Improvements (the “Miscellaneous Property”). 
 1.1.8 The Land and Improvements are
hereinafter sometimes referred to collectively as the “Real Property” and the Real Property, Personal Property, Leases, Tenant Deposits, Intangible Property, the Property Contracts and the Miscellaneous Property, are hereinafter sometimes
referred to collectively as the “Property.” 
 1.2 Purchase and Sale. Buyer agrees to purchase from Seller and
Seller agrees to sell to Buyer all of Seller’s right, title and interest in and to the Property, on the terms and conditions set forth in this Agreement. 

1.3 Purchase Price. The purchase price for the Property (the “Purchase Price”) shall be Thirteen Million Eight Hundred
Thousand and No/100 Dollars ($13,800,000.00). The Purchase Price shall be paid to Seller by Buyer on the Closing Date (defined in Section 1.5), plus or minus all adjustments or credits as set forth herein, by wire transfer of immediately
available federal funds. 
 1.4 Deposit. Within three (3) business days after the Effective Date, Buyer shall
deliver to Chicago Title Insurance Corporation, 830 East Main Street, Suite 1600, Richmond, VA 23219, Attn: Chris Newman (“Escrow Holder”), a good faith deposit in the amount of Seventy Five Thousand and No/100 Dollars ($75,000.00) (the
“Initial Deposit”), and within three (3) business days following the expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Escrow
Holder an additional good faith deposit (“Additional Deposit”) of One Hundred Twenty Five Thousand and No/100 Dollars ($125,000.00). The Initial Deposit and the Additional Deposit shall be collectively referred to herein as the
“Deposit”. The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. The Deposit (and any interest earned thereon) shall be applied to the Purchase Price if the Closing occurs.
Unless Buyer shall have timely delivered its Disapproval Notice as provided in Section 3.4 hereof, upon the expiration of the Due Diligence Period (as defined in Section 3.2 hereof) the Deposit shall automatically become nonrefundable to
Buyer unless escrow fails to close solely due to one or more of the following (i) Seller’s default as described in Section 6.2 of this Agreement, (ii) a failure of a material representation or warranty by Seller to be
substantially true and correct as of the Closing, (iii) a failure of a condition precedent set forth in Section 5.4, (iv) a casualty or condemnation affecting a material portion of the Real Property, or (v) as otherwise expressly
provided in this Agreement [(i) through (v) being collectively referred to as a “Non-Buyer Failure”)], and the Deposit shall constitute liquidated damages to Seller if escrow fails to close as a result of Buyer’s default as
provided in Section 6.1 below. In the event Buyer shall elect to terminate this Agreement in accordance with its terms, the Deposit (and any interest earned thereon) shall be returned to Buyer as provided in Section 3.5 below. 

 

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 1. 

1.5 Closing Date. 

1.5.1 The Closing shall take place on or before 2:00 p.m. EST on September 30, 2010 (the “Closing Date”)
through an escrow opened with Escrow Holder. Notwithstanding the foregoing, Buyer has the right, upon not less than five (5) business days’ prior written notice to Seller, to accelerate the Closing Date. In addition to the foregoing, Buyer
and Seller may elect to hold the Closing at such other place and on such other later date as Buyer and Seller may mutually agree in writing. For purposes of this Agreement “Close of Escrow” or “Closing” means the date and time
Escrow Holder disburses funds in accordance with this Agreement and is irrevocably committed to record the Deed (defined in Section 5.6.1). 

1.5.2 Notwithstanding anything to the contrary in the foregoing Section 1.5.1, Buyer shall have the right to
unilaterally extend the Closing Date for up to four (4) additional seven (7) consecutive calendar day periods beyond the Closing Date provided in Section 1.5.1 above. In order to exercise this right to extend the Closing Date for any
such seven (7) consecutive calendar day period, not later than two (2) business days prior to the applicable Closing Date (as the same may be extended in accordance herewith) Buyer shall provide written notice to the Seller of its election
to extend the Closing Date for an additional seven (7) consecutive calendar days (“Closing Extension Notice”) and simultaneously deliver to Escrow Holder the sum of Twenty Five Thousand and No/100 Dollars ($25,000.00) (the
“Closing Extension Deposit”). Any Closing Extension Deposits shall be deemed part of the Deposit and shall be applied to the Purchase Price if the Closing occurs. If Closing does not occur all Extension Deposits shall be retained by Seller
unless the failure to close on the purchase of the Property results from a Non-Buyer Failure. 
 2. 

ARTICLE 2 - TITLE AND SURVEY 

2.1 Title and Survey. During the Due Diligence Period (defined in Section 3.2), Buyer, at Buyer’s cost and expense, may
obtain a preliminary title report or commitment (the “Preliminary Report”, which Preliminary Report will be based upon the prior title insurance policy issued to Seller by Escrow Holder’s affiliate, Lawyers Title Insurance
Corporation) from Escrow Holder (referred to in such capacity herein as, the “Title Company”), together with legible copies of all recorded encumbrances and exceptions to title as well as an existing survey, if any, from Seller. Buyer
shall, at its option and at its expense, (i) conduct UCC searches covering Seller and the Property (the “UCC Searches”) and (ii) order an update of the existing survey of the Real Property by a licensed surveyor or registered
professional engineer (the “Survey”). 
 2.2 Review of the Preliminary Report, Survey and UCC Searches; Objection;
Approval or Termination. On or before the last day of the Due Diligence Period (defined in Section 3.2), Buyer may deliver to Seller a written notice (the “Title Objection Notice”) setting forth any matters shown on the
Preliminary Report, Survey or UCC Searches to which Buyer 
  

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objects and requires be eliminated, (the “Title Objections”). Buyer may make its determination of whether any of the matters contained in the Preliminary Report, Survey or UCC Searches
(as applicable) are appropriate or are objectionable in its sole but reasonable discretion. Buyer’s failure to give the Title Objection Notice in a timely manner shall be deemed to constitute Buyer’s approval of matters disclosed in the
Preliminary Report, Survey, or UCC Searches (as applicable) and this Agreement shall remain in full force and effect. If Buyer delivers a Title Objection Notice in a timely manner, Seller shall have five (5) business days from the receipt of
the Title Objection Notice (the “Seller’s Response Period”) to provide Buyer with written notice of Seller’s election to remove or otherwise cure to Buyer’s reasonable satisfaction all or a portion of the Title Objections
prior to the Closing (“Seller Response Notice”); provided however, and notwithstanding Buyer’s inclusion or lack thereof in any Title Objection Notice, Seller shall be obligated to eliminate all monetary liens or similar encumbrances,
and any exceptions created or consented to by Seller after the Effective Date (collectively, the “Required Cure Items”), unless approved in writing by Buyer, which Seller shall cause to be released at Closing. With the exception of the
Required Cure Items, if Seller fails to deliver the Seller Response Notice within the Seller Response Period (or if the Seller Response Notice indicates certain Title Objections which Seller elects to not remove or cure), then Seller shall be deemed
to have elected to not cure any of the Title Objections. If Seller timely delivers notice of election not to cure a disapproved item, or is deemed to have done so as provided above, then Buyer may either (i) elect to terminate this Agreement,
or (ii) waive in writing its prior disapproval of such item and accept title subject to such previously disapproved item, in either case by delivering notice of Buyer’s election to Seller within five (5) business days after the
receipt of the Seller Response Notice (the “Buyer Response Period). If Buyer fails to deliver its notice as provided in the preceding sentence within the Buyer Response Period, Buyer shall be deemed to have approved of Seller’s Response
Notice and this Agreement shall remain in full force and effect. If this Agreement is terminated pursuant to this Section 2.2, the provisions of Section 3.5 shall apply. Any matter which is shown on the Preliminary Report, Survey or
UCC Searches and which is not included in Buyer’s Title Objection Notice, together with any matter which is included in such Title Objection Notice but is thereafter waived or deemed waived by Buyer pursuant to this
Section 2.2, are collectively called the “Accepted Title Matters”. 
 2.3 Required Title Condition. Title
to the Property shall be conveyed to Buyer subject only to the following permitted encumbrances (the “Required Title Condition”): (a) current, non-delinquent real estate taxes and assessments, (B) the Accepted Title Matters,
(c) the Lease, (d) any other matters approved in writing, or caused, by Buyer. 
 ARTICLE 3 - INSPECTION AND DUE
DILIGENCE PERIOD 
 3.1 Access. From and after the Effective Date through the Closing, Buyer, personally or through
its authorized agent or representatives, shall be entitled, upon reasonable advance notice to Seller (and at all times strictly in accordance with the terms of the Lease), to enter upon the Property during normal business hours and shall have the
right to make such investigations, including Tenant interviews, appraisals, engineering studies, soil tests, environmental studies and underwriting analyses, as Buyer deems reasonably necessary or advisable. Buyer shall have the right to conduct a
Phase I environmental site assessment, and, if necessary and agreed to in writing by Seller, a Phase II environmental site assessment (including soils borings, soil 

 

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sampling and, if relevant, ground water testing, with respect to the Property). Buyer’s activities at the Property shall be conducted diligently, at all times in accordance with the Lease
and in such a manner so as not to unreasonably interfere with the occupancy of the Tenant or its employees, licensees or invitees. Regarding Buyer’s investigations, in addition to the forgoing: 

a. Prior to its conduct of any inspection activities, Buyer must deliver evidence satisfactory to Seller that Buyer has
insurance for its proposed inspection activities, in amounts and with coverages that are substantially the same as those maintained by Seller or in such lesser amounts or with such lesser coverages as are reasonably satisfactory to Seller, and that
Seller and the Tenant have been named as additional insureds with respect to said insurance coverages; 
 b.
Buyer must notify Seller not less than three (3) business days in advance of Buyer’s plans to conduct tests so that Seller may be present during the tests; 

c. if the Land or Improvements are altered or otherwise affected physically because of Buyer’s inspections, Buyer
must return the Land or Improvements to their pre-inspection condition immediately after the alteration occurs; 

d. Buyer must deliver to Seller copies of all inspection reports that Buyer prepares or receives from third-party
consultants or contractors within three (3) days after their preparation or receipt by Buyer; 
 e. Buyer
must abide by any other reasonable entry rules imposed by Seller or the Tenant; 
 f. Seller shall, at
Seller’s cost and expense, turn on, run and maintain, without any interruption in service, electrical power and all utilities to the Property (to the extent the Seller is permitted access to the same) to facilitate Buyer’s testing and
investigations; 
 g. Buyer will indemnify, defend, and hold Seller harmless from any loss, reasonable
attorney’s fees, expenses and claims of whatsoever nature arising out of or relating to Buyer’s investigation of the Land or Improvements, except remediation of existing conditions discovered by Buyer’s inspections. The obligations of
Buyer under this provision will survive termination of this Agreement and Closing; and 
 h. Buyer releases
Seller and those persons acting on Seller’s behalf from all claims and causes of action (including claims for attorney’s fees and court and other costs) resulting from Buyer’s investigation of the Land or Improvements. 

 

	3.	

 3.2 Due Diligence
Period. Buyer shall have from the Effective Date until 5:00 p.m. EST on September 17, 2010 (the “Due Diligence Period”) to physically inspect the Property, review the economic data, underwrite the Tenant and review the Lease,
conduct appraisals, perform examinations of the physical condition of the Improvements, examine the Property for the presence of Hazardous Materials (defined in Section 4.2.2), and to otherwise conduct such due diligence review of the Property
and all of the items to be furnished by Seller to Buyer pursuant to Section 3.3 below, and all records and other materials related thereto as Buyer deems appropriate. 
  

 5 

 3.3 Items to be Provided by Seller. To the extent within Seller’s possession,
Seller shall deliver to Buyer (by electronic or overnight delivery) accurate and complete copies of all of the information set forth on Exhibit “G” attached hereto and incorporated herein (“Property Information”). In
addition to the foregoing deliveries, Seller shall make available to Buyer for inspection and copying at Seller’s offices located at One Oxford Centre, Pittsburgh, Pennsylvania 15219 the originals of any of the Property Information and any and
all other documents, instruments, studies, reports, surveys, maps, files, correspondence (including without limitation, Tenant correspondence files), reports and other materials related to the Property and not included in the Property Information.
Seller agrees to make available to Buyer new Property Information as it becomes available. Where financial statements are required, Buyer, at its sole cost and expense, shall have the right (but not the obligation) to have its auditor, BDO Seidman,
LLP, or another qualified auditor of Buyer’s choosing conduct an audit of the property financial statements and other information. 

3.4 Buyer’s Possible Early Termination. Buyer shall have the right to approve in Buyer’s sole and absolute discretion,
the Property, the Property Information, the Preliminary Report, the Survey, the UCC Searches, or any other matter whatsoever regarding the Property. At any time prior to the expiration of the Due Diligence Period, Buyer may provide written notice to
Seller and Escrow Holder disapproving the Property (“Disapproval Notice”). Upon the giving of a Disapproval Notice, this Agreement shall automatically terminate subject to the provisions of Section 3.5. Buyer’s failure to provide
a Disapproval Notice prior to the expiration of the Due Diligence Period shall be deemed Buyer’s approval of the Property. 
 4.

 3.5 Consequences of Buyer’s Early Termination. Upon the giving of a Disapproval Notice, this Agreement shall
immediately terminate, and the parties shall be released from all further obligations under this Agreement (except with respect to the provisions set forth in Sections 3.1 (a), (c), (d), (e), (g) and (h), as well as any other provisions that by
their terms survive a termination of this Agreement); provided, however, that if Seller is in default hereunder at the time of such termination, Section 6.2 shall additionally apply. Provided Buyer is not then in default under the terms of this
Agreement, Escrow Holder shall pay the entire Deposit (and any interest earned thereon) to Buyer not later than one (1) business day following receipt of Buyer’s Disapproval Notice (or as soon as practicable after the then-current
investment of the Deposit is liquidated). 
 ARTICLE 4 - REPRESENTATIONS, WARRANTIES AND COVENANTS 

4.1 Seller’s Representations. Except as otherwise disclosed in writing to Buyer, Seller warrants and represents to Buyer as
follows: 
 4.1.1 Seller is a duly formed and validly existing limited partnership organized under the laws of
the Commonwealth of Pennsylvania. Seller has full power and authority to enter into this Agreement, to perform this Agreement and to consummate the transactions 

 

 6 

 
contemplated hereby. The execution, delivery and performance of this Agreement and all documents contemplated hereby by Seller have been (or shall be on or prior to Closing) duly and validly
authorized by all necessary action on the part of Seller and all required consents and approvals have been duly obtained and will not result in a breach of any of the terms or provisions of, or constitute a default under any indenture, agreement or
instrument to which Seller is a party. 
 4.1.2 Seller has good and marketable title to the Property. There are
no outstanding rights of first refusal, rights of reverter or options to purchase relating to the Property or any interest therein. To Seller’s knowledge, other than the Lease there are no unrecorded or undisclosed documents or other matters
which affect title to the Property. Subject to the Lease, since it commenced ownership of the Property Seller has enjoyed the continuous and uninterrupted quiet possession, use and operation of the Property, without material complaint or objection
by any person. 
 4.1.3 Seller is not a “foreign person” within the meaning of Section 1445(f) of
the Internal Revenue Code of 1986, as amended (the “Code”). 
 4.1.4 Neither Seller nor any of its
partners, members, shareholders or other equity owners is a person or entity with whom United States persons or entities are restricted from doing business under 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) or under any statute, executive order (including, without limitation, 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, and is not and will not engage in any dealings or transactions or be otherwise associated with such persons or entities. 

4.1.5 No authorization, consent, and approval of a governmental authority is required for Seller’s performance of its
obligations hereunder with respect to the Closing herein described to occur except for the consent of the government tenant occupying the Property pursuant to the Lease. 

4.1.6 There are no actions, suits or proceedings pending, or, to the best of Seller’s knowledge, threatened
(a) affecting Seller, which if determined adversely, would affect its ability to perform its obligations hereunder; or (b) against any portion of the Property. 

4.1.7 Seller has not (a) made a general assignment for the benefit of creditors, (b) filed any voluntary
petition in bankruptcy or suffered the filing of an involuntary petition by Seller’s creditors, (c) suffered the appointment of a receiver to take possession of all or substantially all of Seller’s assets, (d) suffered the
attachment or other judicial seizure of all, or substantially all, of Seller’s assets, (e) admitted in writing its inability to pay its debts as they come due, or (f) made an offer of settlement, extension or composition to its
creditors generally. 
 4.1.8 To the best of Seller’s knowledge, neither the execution, delivery or
performance of this Agreement nor compliance herewith (a) conflicts or will conflict with or results or will result in a breach of or constitutes or will constitute a default under (i) the articles

  

 7 

 
of incorporation and by-laws or other organization certificate and/or partnership or operating agreement of Seller, or (ii) any law or any order, writ, injunction or decree of any court or
governmental authority, or (b) results in the creation or imposition of any lien, charge or encumbrance upon its property pursuant to any such agreement or instrument. 

4.1.9 Seller has not entered into any material commitments or agreements with any governmental authorities or agencies
affecting the Property except as provided in the Property Information. 
 4.1.10 There is no pending, threatened
or contemplated condemnation proceeding relating to the Property to the best of Seller’s knowledge, and Seller has received no written notice from any governmental agency or official to the effect that any such proceeding is contemplated.

 4.1.11 Seller has delivered or made available to Buyer a complete copy of the Lease and other occupancy
agreements affecting the Property, if any. The Lease is in full force and effect. Seller is “landlord” or “lessor” under the Lease. Neither Seller nor the Tenant is in default under the Lease and to the best of Seller’s
knowledge there exists no condition or circumstance or written notice of any condition or circumstance which, with the passage of time, would constitute a default of either Seller or the Tenant under the Lease. The Tenant is not asserting any claim
of offset or other defense in respect of its or Seller’s obligations under the Lease, and there are no unresolved disputes relating to the calculation of additional rent under the Lease. There are no pending or incomplete tenant improvements
and unpaid tenant improvement costs and leasing commissions with respect to the Lease and no pecuniary obligation to Tenant and brokers has vested or accrued and is owed by Seller, except that shall be fully completed and paid in full prior to
Closing; provided, however, that Tenant has made preliminary inquiries verbally to Seller regarding Seller’s willingness to add automatic front door openers to, and to remove reception area benches from, the Property at the Tenant’s
expense. 
 4.1.12 The financial statements of Property operations provided by Seller, including, but not limited
to, statements of revenue and expenses, balance sheets and statements of cash flow are true, correct and complete in all material respects. Such financial statements present fairly, in all material respects, the information contained therein for the
periods indicated therein. All expenses associated with Property operations have been recorded in Seller’s general ledger. Seller agrees to provide such other reasonable information requested by Buyer in writing provided such request may not
delay the Closing. 
 4.1.13 Intentionally omitted.4.1.14 Seller has delivered or made available to Buyer true
and complete copies of all contracts to which Seller is a party and affect the Property. Seller has not, within the last year, received any written notice of any default under any Property Contract or other such contract or agreement that has not
been cured or waived. Any agreements for services connected with the Land or Improvements are oral in nature and are in place from “month-to-month”. 

4.1.15 There are no debts or other liabilities or obligations relating to the Lease or the Property, including but not
limited to tenant improvement costs and leasing commissions, vesting, accruing and/or arising prior to Closing which will be due or payable from or by Buyer except as set forth in the Lease. 

 

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 4.1.16 Seller has not received any written notice from, and is otherwise
aware of no grounds for, any association, declarant or easement holder requiring the correction of any condition with respect to the Property, or any part thereof, by reason of a violation of any restrictions or covenants recorded against the
Property. 
 4.1.17 Except as disclosed in the Property Information, to the best of Seller’s knowledge there
are no material defects in the structural elements of the Improvements and all improvements (including, without limitation, machinery, equipment, electrical, plumbing, heating and air conditioning systems and equipment) located on the Property are
in good mechanical working order, condition and repair, and are structurally safe and sound and have no material defect (reasonable wear and tear excepted), and, there is no material leak or material defect in any roof located upon the Property.

 4.1.18 Seller has not received any written notice from, and is otherwise aware of no grounds for, any
governmental agency requiring the correction of any condition with respect to the Property, or any part thereof, by reason of a violation of any applicable federal, state, county or municipal law, code, rule or regulation (including those respecting
the Americans With Disabilities Act), which has not been cured or waived. 
 4.1.19 The Property is properly
zoned for its current use. There is no pending or threatened request, application or proceeding to alter or restrict the zoning or other use restrictions applicable to the Property which has been commenced or filed by Seller; to the best of
Seller’s knowledge there is no plan, study or effort by any governmental authority or agency or any private party or entity that in any way affects or would affect the authorization of the current use and operation of the Property. 

4.1.20 Seller has not received any written notice of an intention to revoke any certificate of occupancy, license, or
permit issued in connection with the Property. 
 4.1.21 Seller has received no notice that the Property or any
portion thereof contains any form of toxic mold. 
 4.1.22 To the best of Seller’s knowledge, there are no
Hazardous Materials stored on, incorporated into, located on, present in or used on the Property in violation of, and requiring remediation under, any laws, ordinances, statutes, codes, rules or regulations as of the date of this Agreement or, upon
the Close of Escrow hereunder, in existence on the Close of Escrow. For purposes of this Agreement, the term “Hazardous Materials” shall mean any substance which is or contains: (i) any “hazardous substance” as now or
hereafter defined in Section 101(14) of the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601 et seq.) (“CERCLA”) or any regulations promulgated under CERCLA;
(ii) any “hazardous waste” as now or hereafter defined the Recourse Conservation and Recovery Act (42 U.S.C. Section 6901 et seq.) (“RCRA”) or regulations promulgated under RCRA; (iii) any substance regulated by
the Toxic Substances Control Act (15 U.S.C. Section 2601 et. seq.); (iv) gasoline, diesel fuel or other petroleum hydrocarbons; (v) asbestos and asbestos 

 

 9 

 
containing materials, in any form, whether friable or non-friable; (vi) polychlorinated biphenyls; (vii) radon gas: and (viii) any additional substances or materials which are now
or hereafter classified or considered to be hazardous or toxic under any laws, ordinances, statutes, codes, rules, regulations, agreements, judgments, orders and decrees now or hereafter enacted, promulgated, or amended, of the United States, the
state, the county, the city or any other political subdivision in which the Property is located and any other political subdivision, agency or instrumentality exercising jurisdiction over the owner of the Property, the Property or the use of the
Property relating to pollution, the protection or regulation of human health, natural resources or the environment, or the emission, discharge, release or threatened release of pollutants, contaminants, chemicals or industrial, toxic or hazardous
substances or waste into the environment (including, without limitation, ambient air, surface water, ground water or land or soil). 

4.1.23 To the best of Seller’s knowledge, there are no claims pending against, or unpaid bills payable by, Seller
which would result in the creation of any lien on the Property for any improvements completed or in progress, including, but not limited to, water, sewage, street paving, electrical or power improvements. There are no delinquent bills or claims in
connection with any repair of the Property or other work or material purchased by Seller in connection with the Property which will not be paid by or at the Close of Escrow or placed in escrow pursuant to the provisions of this Agreement.

 4.1.24 No treatment has been undertaken by Seller with respect to termite or similar infestation, fungi, or
dry rot on the Property other than normal periodic service, and to the best of Seller’s knowledge, there is no damage to any portion of the Property from termite or similar infestation, fungi or dry rot. 

4.1.25 The Property is currently insured. Seller has received no notices or requests from any insurance company issuing
any policy of insurance covering the Property requesting the performance of any work with respect to the Property or the Improvements located thereon which has not been fully complied with. 

4.1.26 Intentionally omitted. 

4.1.27 Seller represents that all real property taxes for the year immediately preceding the year of Closing have
heretofore been paid. 
 4.1.28 Seller will not take or cause to be taken any action or fail to perform any
obligation which would cause any of the representations or warranties contained in this Agreement to be untrue in any material respect as of the Close of Escrow. Seller shall immediately notify Buyer, in writing, of any event or condition known to
Seller which occurs prior to the Close of Escrow hereunder, which causes a materially adverse change in the facts relating to, or the truth of, any of the representations or warranties. 

All information given by Seller to Buyer in this Agreement or in connection with the transactions contemplated hereunder shall be true
and accurate in every material respect as of the date hereof and at the Close of Escrow, and to its knowledge Seller has not failed to disclose any fact to Buyer necessary to make the statements herein or otherwise provided in connection with

  

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the transactions contemplated hereunder not misleading in any material respect and Seller has no knowledge or information of any facts, circumstances, or conditions that are inconsistent with the
representations and warranties contained herein. Seller shall promptly inform Buyer in writing if there occurs any (i) material adverse change in the condition, financial or otherwise, of the Property, or the operation thereof, at any time
prior to the Close of Escrow or (ii) if any information, document, agreement or other material delivered to Buyer is amended, superseded, modified or supplemented. 

4.2 Buyer’s Representations. Buyer makes the following representations and warranties to Seller as follows: 

4.2.1 Buyer is a duly formed and validly existing limited liability company in good standing under the laws of the State
of Missouri. 
 4.2.2 Buyer has full right, power and authority and is duly authorized to enter into this
Agreement and to perform each of these covenants on its part to be performed hereunder and to execute and deliver and to perform its obligations under all documents required to be executed and delivered by it pursuant to this Agreement. The
execution, delivery and performance of this Agreement and all documents contemplated hereby by Buyer have been (or shall be on or prior to Closing) duly and validly authorized by all necessary action on the part of Buyer and all required consents
and approvals have been duly obtained and will not result in a breach of any of the terms or provisions of, or constitute a default under any indenture, agreement or instrument to which Buyer is a party. 

4.2.3 Neither Buyer nor any of its partners, members, shareholders or other equity owners is a person or entity with whom
United States persons or entities are restricted from doing business under 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) or under any statute, executive order (including, without limitation, 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, and is not and will not engage in any dealings or transactions or be otherwise associated with such persons or entities. 

4.2.4 No authorization, consent, and approval of a governmental authority is required for Buyer’s performance of its
obligations hereunder with respect to the Closing herein described to occur except for the consent of the government tenant occupying the Property pursuant to the Lease. 

4.2.5 There are no actions, suits or proceedings pending, or, to the best of Buyer’s knowledge, threatened affecting
Buyer, which if determined adversely, would affect its ability to perform its obligations hereunder. 
 4.2.6
Buyer has not (a) made a general assignment for the benefit of creditors, (b) filed any voluntary petition in bankruptcy or suffered the filing of an involuntary petition by Buyer’s creditors, (c) suffered the appointment of a
receiver to take possession of all or substantially all of Buyer’s assets, (d) suffered the attachment or other judicial seizure of all, or substantially all, of Buyer’s assets, (e) admitted in writing its inability to pay its
debts as they come due, or (f) made an offer of settlement, extension or composition to its creditors generally. 
  

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 4.2.7 To the best of Buyer’s knowledge, neither the execution, delivery
or performance of this Agreement nor compliance herewith conflicts or will conflict with or results or will result in a breach of or constitutes or will constitute a default under (i) the articles of incorporation and by-laws or other
organization certificate and/or partnership or operating agreement of Buyer, or (ii) any law or any order, writ, injunction or decree of any court or governmental authority. 

4.3 Survivability of Representations and Warranties. The representations and warranties of Seller and Buyer set forth in this
Agreement are made as of the Effective Date and the Closing Date and shall not be deemed to be merged into or waived by the instruments of Closing and shall survive the Closing for a period of six (6) months after the Closing Date. 

4.4 Seller Covenants. 

4.4.1 Leasing Activities. Except as set forth in Section 5.4 below, Seller shall not, from the Effective Date,
enter into any new leases, enter into any modification or amendment to the Lease, or consent to any sublease under the existing Lease, in each case, without the prior written consent of Buyer, which consent shall not be unreasonably withheld,
conditioned or delayed. Seller shall, within fifteen (15) days of the Effective Date, commence the approval and novation process with the federal government tenant of the Property to the transfer of Seller’s rights in and to the Lease.
Further Seller shall use its best efforts to obtain such approval and novation and shall execute such other documents as reasonably requested by Buyer to evidence and secure the assumption of the Lease. 

4.4.2 Property Contracts. Seller shall not, from the Effective Date, enter into any new service contracts for the
Property or modifications, renewals or terminations of any existing service contracts that would materially affect the Property after Closing, without the written consent of Buyer, which consent shall not be unreasonably withheld, conditioned or
delayed. Effective at Closing, Seller shall terminate, at Seller’s expense, any and all Property Contracts unless Buyer provides written notice of Buyer’s election to assume any such contract, which notice must be provided prior to the
expiration of the Due Diligence Period. 
 4.4.3 Conducting Business. At all times prior to Closing,
Seller shall continue to (i) conduct business with respect to the Property in substantially the same manner in which said business has been heretofore conducted and (ii) insure the Property substantially as it is currently insured.

 4.4.4 Encumbrances. At all times prior to Closing, Seller shall not sell, mortgage, pledge, encumber,
hypothecate or otherwise transfer or dispose of all or any part of the Property or any interest therein without the prior written consent of Buyer, which shall not be unreasonably withheld, conditioned or delayed; and Seller shall not consent to,
approve or otherwise take any action with respect to zoning or any other governmental rules or regulations presently applicable to all or any part of the Property. 

 

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 4.4.5 Monthly Operating Statements. Seller shall provide Buyer with a
copy of the monthly operating statement for the operation of the Property on or before the ten (10) days after the end of each month commencing with the month during which the Effective Date occurs, and continuing for each full calendar month
thereafter until the Closing Date. 
 4.4.6 Cooperation with Buyer’s Financing. At Buyer’s sole
cost, Seller agrees to reasonably cooperate with Buyer’s financing, provide third-party agents of Buyer and Buyer’s financing with reasonable access to the Property, and comply with reasonable requests for documentation or affidavits
regarding the operation, condition, and ownership of the Property. 
 4.4.7 Compliance with Laws and
Regulations. Seller shall not knowingly take any action that would result in a failure to comply in all material respects with any applicable statute, rule, regulation and requirement of all federal, state and local jurisdictions (including
commissions, board, bureaus and agencies) applicable to the Property, it being understood that Seller shall have the right to reasonably contest any of the same. 

4.5 Indemnifications. 

4.5.1 Seller’s Indemnity. In addition to any other applicable rights under this Agreement, Seller agrees to
indemnify, defend and hold Buyer and its officers, directors, partners, members, agents, employees, affiliates, attorneys, heirs, successors and assigns (collectively, “Buyer’s Indemnified Parties”) harmless from and against any and
all liabilities, liens, claims, damages, costs, expenses, suits or judgments paid or incurred by any of Buyer’s Indemnified Parties and all expenses related thereto, including, without limitation, court costs and reasonable attorneys’ fees
arising out of or in any way connected or related to (i) the ownership, maintenance, or operation of the Property and arising from events or conditions that occur entirely prior to Closing, (ii) any breach or nonperformance by Seller of
any material provision or covenant contained in this Agreement but only to the extent that actual out of pocket damages are incurred by Buyer solely as a result thereof, (iii) any liability arising because of a breach of lease or breach of
contract related to the Property which occurred or arose or is alleged to have occurred or arisen entirely prior to Closing and which is due solely to actions taken by Seller. The indemnities set forth in this Section shall survive Closing for a
period of six (6) months after the Closing Date; provided, however, that the indemnities set forth in this Section shall not apply to the extent of any item which by this Agreement specifically becomes the obligation of Buyer after the Closing
pursuant to the terms and conditions of this Agreement. 
 4.5.2 Buyer’s Indemnity. In addition to
any other applicable rights under this Agreement, Buyer agrees to indemnify, defend and hold Seller and its officers, directors, partners, members, agents, employees, affiliates, attorneys, heirs, successors and assigns (collectively,
“Seller’s Indemnified Parties”) harmless from and against any and all liabilities, liens, claims, damages, costs, expenses, suits or judgments paid or incurred by any of Seller’s Indemnified Parties and all expenses related
thereto, including, without limitation, court costs and reasonable attorneys’ fees arising out of or in any way connected or related to (i) the ownership, maintenance, or operation of the Property and arising from events or conditions that
occur entirely after the Closing, (ii) any breach or nonperformance by Buyer of any material provision or covenant contained in this Agreement, but only to the extent that actual out of pocket damages are incurred by Seller solely as a result
thereof, (iii) any liability arising because 
  

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of a breach of lease or breach of contract related to the Property which occurred or is alleged to have occurred entirely after Closing and which is due solely to actions taken by Buyer. The
indemnities set forth in this Section shall survive Closing for a period of six (6) months after the Closing Date; provided, however, that the indemnities set forth in this Section shall not apply to the extent of any item that specifically
remains the obligation of Seller after the Closing pursuant to the terms and conditions of this Agreement. 
 ARTICLE 5 -
CLOSING 
 5.1 Escrow Holder. The Closing shall occur through the Escrow opened at the Escrow Holder named in
Section 1.4. Escrow Holder is designated, authorized and instructed to act as Escrow Holder pursuant to the terms of this Agreement. 

5.2 Escrow Instructions; Opening of Escrow. This Agreement shall constitute initial escrow instructions to Escrow Holder. The
parties shall execute any additional escrow instructions reasonably required by Escrow Holder to consummate the transaction provided for herein (including Escrow Holder’s so-called “general provisions”); provided, however, such
additional escrow instructions shall not modify the provisions of this Agreement. Within three (3) business days after the Effective Date, the parties shall open escrow by delivering three (3) executed originals of this Agreement, as well
as Seller’s delivering of the Initial Deposit to Escrow Holder (“Opening of Escrow”). Upon receipt of the Agreement and the Initial Deposit, Escrow Holder shall acknowledge the Opening of Escrow as described below and its agreement to
act as the Escrow Holder hereunder by: (a) executing the Consent of Escrow Holder attached hereto; (b) delivering a copy of the executed Consent to Seller and Buyer and (c) delivering one (1) original of the Agreement to Seller
and one (1) original of the Agreement to Buyer at the address of Buyer’s counsel specified in Section 9.7. 

5.2.1 Escrow Holder’s Investment Vehicle. The Escrow Holder may from time to time invest the Deposit and such
other funds as are intended to be escrowed hereunder (the “Escrow Funds”) in a Bank of America Business Investment Account for the benefit of the Buyer or such other account as Buyer may direct in writing. Buyer’s Federal Tax
Identification Number is listed after its signature. The Escrow Holder shall not be responsible for any loss, diminution in value or failure to achieve a greater profit as a result of such investments. Also, the Escrow Holder assumes no
responsibility for, nor shall said Agent be held liable for, any loss occurring which arises from (i) failure of the depository institution, (ii) the fact that some banking instruments, including without limitation repurchase agreements
and letters of credit are not covered by the Federal Deposit Insurance Corporation, or (iii) the fact that the amount of the Deposit may cause the aggregate amount of any depositor’s accounts to exceed $250,000 and that such excess amount
is not insured by the Federal Deposit Insurance Corporation. 
 5.2.2 Escrow Holder’s General
Provisions. The Escrow Holder is not a trustee for any party for any purpose, and is merely acting as a depository and in a ministerial capacity hereunder with the limited duties herein prescribed. The Escrow Holder may conclusively rely upon
and act in accordance with any certificate, instructions, notice, letter, telegram, cablegram other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 

 

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 5.2.3 Indemnification of Escrow Holder. The Seller and Buyer shall
indemnify, save, defend, keep and hold harmless the Escrow Holder from any and all loss, damage, cost, charge, liability, cost of litigation, or other expense, including without limitation attorney’s fees and court costs, arising out of its
obligations and duties, including but not limited to (i) disputes arising or concerning amounts of money to be paid, (ii) persons to whom payments should be made or (iii) any delay in the electronic wire transfer of funds, as Escrow
Holder, unless Escrow Holder’s actions constitute gross negligence or willful misconduct. 
 5.3 Closing. The
Closing shall take place on the Closing Date set forth in Section 1.5, as the same may be extended, provided all conditions to the Closing have been satisfied or duly waived. 

5.4 Conditions Precedent Favoring Buyer. In addition to any other conditions precedent in favor of Buyer as may be expressly set
forth elsewhere in this Agreement, Buyer’s obligations under this Agreement are subject to the timely fulfillment of the conditions set forth in this Section 5.4 on or before the Closing Date, or such earlier date as is set forth below.
Each condition may be waived in whole or in part only, by written notice of such waiver from Buyer to Seller. 

5.4.1 Seller performing and complying in all material respects with all of the terms of this Agreement to be performed and
complied with by Seller prior to or at the Closing. 
 5.4.2 On the Closing Date, all of the material
representations and warranties of Seller set forth herein shall be substantially true, accurate and complete. 

5.4.3 No later than three (3) business days prior to the Closing Date, Seller shall have obtained an estoppel
certificate from the Tenant in a form , if any, required by the terms of the Lease (“Threshold Estoppel”) dated no earlier than sixty (60) days prior to Closing. The Threshold Estoppel shall be consistent with the Lease and shall not
reveal any materially adverse matter or any claim of the same. 
 5.4.4 Intentionally omitted. 

5.4.5 The Tenant will be in occupancy of the Land and Improvements, the Lease will be free from any default on the part of
Seller, as landlord, or the Tenant, as tenant thereunder, and the Tenant shall be paying rent and be current in the payment of all rentals due under the Lease. 

5.4.6 At Closing, the Title Company shall issue to Buyer an ALTA 2006 Owner’s Policy of Title Insurance (“Title
Policy”) insuring Buyer’s fee simple title to the Property for the sum equal to the Purchase Price subject only to the standard exclusions from coverage contained in such policy, conforming to the Required Title Condition set forth in
Section 2.3 above. 
 5.4.7 There shall have been no material adverse change in the physical condition of
the Property from the end of the Due Diligence Period through the Closing Date, normal wear and tear excepted. 
  

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 5.4.8 If applicable, Seller shall have delivered an estoppel certificate in
substantially the same form as Exhibit “H” attached hereto and incorporated by reference from the party, if any, entitled to enforce any restrictive covenants encumbering the Property, confirming that there are no unpaid assessments
or defaults under such restrictive covenants. 
 The conditions set forth in this Section 5.4 are solely for the benefit of
Buyer and may be waived only by Buyer. At all times Buyer has the right to waive any condition by giving written notice of such waiver to Seller and Escrow Holder. Such waiver or waivers must be in writing to Seller. If Buyer notifies Seller of a
failure to satisfy the conditions precedent set forth herein, Seller may, within five (5) days after receipt of Buyer’s notice, agree to satisfy the condition by written notice to Buyer, and Buyer shall thereupon be obligated to close the
transaction provided (i) Seller so satisfies such condition and (ii) no such right to cure shall extend the Close of Escrow. If Seller fails to agree to cure or fails to cure such condition by the Close of Escrow, this Agreement shall be
automatically terminated, the Deposit (and any interest earned thereon) shall immediately be returned to Buyer without any further action required from either party and neither party shall have any continuing obligations hereunder; provided,
however, if such failure constitutes a breach or default of its covenants, representations or warranties Seller shall remain liable for such breach or default as otherwise set forth in this Agreement. 

5.5 Conditions Precedent Favoring Seller. In addition to any other condition precedent in favor of Seller as may be expressly set
forth elsewhere in this Agreement, Seller’s obligations under this Agreement are expressly subject to the timely fulfillment of the conditions set forth in this Section 5.5 on or before the Closing Date, or such earlier date as is set
forth below. Each condition may be waived in whole or part only by written notice of such waiver from Seller to Buyer. 

5.5.1 Buyer performing and complying in all material respects with all of the terms of this Agreement to be performed and
complied with by Buyer prior to or at the Closing. 
 5.5.2 On the Closing Date, all of the representations of
Buyer set forth in this Agreement shall be true, accurate and complete. 
 The conditions set forth in this Section 5.5 are solely for the
benefit of Seller and may be waived only by Seller. At all times Seller has the right to waive any condition by giving written notice of such waiver to Buyer and Escrow Holder. Such waiver or waivers must be in writing to Buyer. If Seller notifies
Buyer of a failure to satisfy the conditions precedent set forth herein, Buyer may, within five (5) days after receipt of Seller’s notice, agree to satisfy the condition by written notice to Seller, and Seller shall thereupon be obligated
to close the transaction provided (i) Buyer so satisfies such condition and (ii) no such right to cure shall extend the Close of Escrow. If Buyer fails to agree to cure or fails to cure such condition by the Close of Escrow, this Agreement
shall be automatically terminated, the Deposit (and any interest earned thereon) shall immediately be returned to Seller without any further action required from either party and neither party shall have any continuing obligations hereunder;
provided, however, if such failure constitutes a breach or default of its covenants, representations or warranties Buyer shall remain liable for such breach or default as otherwise set forth in this Agreement. 

 

 16 

 5.6 Seller’s Deliveries. At the Closing, Seller shall deliver or cause to be
delivered to Buyer, at Seller’s sole expense, each of the following items: 
 5.6.1 A special warranty deed
(the “Deed”) duly executed and acknowledged by Seller, substantially in the form attached hereto as Exhibit “E”. 

5.6.2 A bill of sale, general assignment and assignment and assumption of lease (the “Bill of Sale and
Assignment”) substantially in the form attached hereto as Exhibit “F” which shall transfer, convey, sell, assign and set over to Buyer all of Seller’s right, title and interest in and to the Personal Property, Lease,
Tenant Deposit, Property Contracts, Intangible Property and Miscellaneous Property, if any. 
 5.6.3 Originals of
the Lease or any occupancy agreements (with all amendments and modifications thereto) in Seller’s possession or control relating to the Property, together with the Threshold Estoppel required under Section 5.4.3 of this Agreement.

 5.6.4 All keys in Seller’s possession to all locks on the Property and all documents in the possession of
Seller pertaining to the Tenant’s occupancy of the Property. 
 5.6.5 A non-foreign person affidavit sworn
to by Seller as required by Section 1445 of the Code. 
 5.6.6 Such evidence, documents, affidavits and
indemnifications as may be reasonably required by the Title Company as a precondition to the issuance of the Title Policy relating to: (i) mechanics’ or materialmen’s liens; (ii) parties in possession; (iii) the status and
capacity of Seller and the authority of the person or persons who are executing the various documents on behalf of Seller in connection with the sale of the Property; or (iv) any other matter reasonably required to enable the Title Company to
issue the Title Policy and endorsements thereto. 
 5.6.7 Originals (or copies, if originals are not within
Seller’s possession) of all Property Contracts assumed by Buyer including all permits, licenses, approvals, plans, specifications, guaranties and warranties. 

5.6.8 A duly executed closing statement reflecting the adjustments and prorations required by this Agreement (the
“Closing Statement”). 
 5.6.9 An irrevocable notice in substantially the same form as Exhibit
“I” attached hereto, which shall be duly executed by Seller and the depository institution in which Seller regularly deposits rents from the Property and whereby Seller instructs the depository institution to immediately disburse rents
received from the Property following Closing to an account of Buyer. 
 5.6.10 Such evidence or documents as may
reasonably be required by Buyer evidencing the power and authority of the Seller and its respective partners and the due authority of, and execution and delivery by, any person or persons who are executing any of the documents required in connection
with the sale of the Property. 
 5.6.11 Such other instruments as may be reasonably required to consummate the
transactions contemplated by this Agreement. 
  

 17 

 5.7 Buyer’s Deliveries. At the Closing, Buyer shall deliver to Seller the
following items: 
 5.7.1 Immediately available federal funds sufficient to pay the Purchase Price (less the
Deposit and any interest earned thereon) and Buyer’s share of all escrow costs and closing expenses. 

5.7.2 Duly executed and acknowledged originals of the Bill of Sale and Assignment and the Closing Statement. 

5.7.3 Such evidence or documents as may reasonably be required by the Title Company evidencing the status and capacity of
Buyer and the authority of the person or persons who are executing the various documents on behalf of Buyer in connection with the purchase of the Property. 

5.7.4 Such evidence or documents as may reasonably be required by Seller evidencing the power and authority of the Buyer
and the due authority of, and execution and delivery by, any person or persons who are executing any of the documents required in connection with the purchase of the Property by Buyer. 

5.7.5 An owner’s affidavit and “gap” indemnity in such a form as the Escrow Holder may reasonably require.

 5.7.6 The notice referred to in Section 5.6.9 above. 

5.7.7 Such other instruments as may be reasonably required to consummate the transactions contemplated by this Agreement.

 5.8 Costs, Prorations and Credits. 

5.8.1 Closing Costs. Buyer and Seller shall each pay their own legal fees related to the preparation of this
Agreement and all documents required to settle the transaction contemplated hereby. Buyer shall pay (i) all title insurance premiums and title examination costs, including the cost of any lender’s policy and all endorsements thereon and on
any owner’s policy, (ii) all costs associated with its investigation of the Property, including without limitation the cost of appraisals, architectural, engineering, credit and environmental reports, (iii) fifty percent (50%) of
all escrow charges, and (iv) all costs and taxes which relate to the recording of any mortgage of Buyer. Seller shall pay (i) any transfer tax assessed for the recording of the Deed, and (ii) fifty percent (50%) of all escrow
charges (but not to exceed $250.00). All other customary purchase and sale closing costs shall be paid by Seller or Buyer in accordance with the custom in the jurisdiction where the Property is located. 

5.8.2 Prorations. The following shall be prorated, credited, debited and adjusted between Seller and Buyer as of
12:01 a.m. on the Closing Date (except as otherwise provided) in accordance with this section. For purposes of calculating prorations, Buyer shall be deemed to be in title to the Property, and therefore entitled to the income and responsible for the
expenses, for the entire day upon which the Closing occurs; provided, however, that should the Closing not be concluded prior to 2:00 p.m. EST on the Closing Date, for purposes of this Section 5.8.2 the

  

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Closing will be deemed to have occurred on the next succeeding business day. Notwithstanding anything herein to the contrary, in the event Tenant pays its monthly lease payments in arrears,
Seller shall be credited at Closing with any accrued but unpaid rents in accordance with this section, and Buyer shall be entitled to any Tenant rents paid in arrears for which Seller has received a corresponding credit. The provisions contained in
this section shall not be deemed to be merged into or waived by the instruments of Closing and shall survive the Closing. 

(a) Current Rent. Tenant’s rent, including payments for taxes, utilities, maintenance, operating expenses, or
insurance, or additional charges of any other nature (collectively “Rent”), based on a rental statement prepared by Seller and approved by Buyer.  

(b) Security Deposit, Unpaid Rent Concessions, Unpaid Tenant Improvement Allowances and Other Tenant Credits. The
amount of any unapplied tenant security deposit, any accrued interest due the Tenant thereon, any unpaid rent concessions then due and owing under the Lease, any unpaid tenant improvement allowances then due and owing under the Lease and the amount
of any other credits then due and owing to the Tenant shall be credited to Buyer. 
 (c) Unpaid Rents.
Seller shall be entitled to all unpaid rents for the period prior to Closing and Buyer shall be entitled to all unpaid rents from the date of Closing and thereafter. Any sums received by Buyer to which Seller is entitled shall be held in trust for
Seller on account of such unpaid rents payable to Seller, and Buyer shall remit to Seller any such sums received by Buyer to which Seller is entitled within three (3) business days after receipt thereof. Seller expressly agrees that if Seller
receives any unpaid rents after the Closing Date which are attributable, in whole or in part, to any period after the Closing Date, and which unpaid rents are not otherwise captured by Section 5.6.9 of this Agreement, Seller shall remit to
Buyer that portion of the unpaid rents so received by Seller to which Buyer is entitled within three (3) business days after receipt thereof. The provisions contained in this Section 5.8.2(c) shall not be deemed to be merged into or waived
by the instruments of Closing and shall survive the Closing. 
 (d) Intentionally omitted. 

(e) Property Contracts. Prepaid charges in connection with any Property Contracts that Buyer elects to assume, or
licenses or permits, shall be credited to Seller. Accrued charges in connection with such Contracts, or licenses or permits, shall be credited to Buyer. 

(f) Private Assessments. Payments due under any assessments imposed by private covenant shall be prorated as of the
Closing. 
 (g) Utilities. Except to the extent such items are the responsibility of the Tenant, prepaid
water, sewer, and other utility charges shall be credited to Seller, and accrued water, sewer, and other utility charges shall be credited to Buyer. 
  

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 (h) Leasing Commissions. On or before the Closing Date, Seller shall
pay in full any leasing commissions then due and owing to leasing or other agents retained by Seller for the current remaining term of the Lease. 

(i) Intentionally omitted. 

(j) Other Items. All other items customarily prorated or required by any other provision of this Agreement to be
prorated or adjusted. 
 5.8.3 Re-prorations. At Closing, the amount of prorations and adjustments as
aforesaid shall be determined or estimated to the extent practicable, and monetary adjustment shall be made between Seller and Buyer. As the amounts of the respective items become finally ascertained, further adjustment shall be promptly made
between the parties in cash. 
 5.8.4 Survival. The provisions of this Section 5.8 shall survive the
Closing. 
 5.9 Distribution of Funds and Documents. At the Close of Escrow, Escrow Holder shall do each of the
following: 
 5.9.1 Payment of Encumbrances. Pay the amount of those monetary liens (e.g. unpaid
mortgages) that are not permitted as part of the Required Title Condition in accordance with the provisions of this Agreement, utilizing funds to which Seller shall be entitled upon Close of Escrow and funds (if any) deposited in Escrow by Seller.

 5.9.2 Recorded Documents. Submit (or be irrevocably committed to submit) to the County or City Recorder
of the County or City in which the Property is located the Deed and each other document to be recorded under the terms of this Agreement or by general usage, and, after recordation, cause the County or City Recorder to mail the Deed to Buyer and
each other such document to the grantee, beneficiary or person acquiring rights thereunder or for whose benefit said document was recorded. 

5.9.3 Non-Recorded Documents. Deliver by overnight courier (or as otherwise requested by the intended recipient):
(i) the Title Policy to Buyer; (ii) each other non-recorded document received hereunder to the payee or person acquiring rights thereunder or for whose benefit said document was acquired; and (iii) a copy of each recorded document,
conformed to show the recording data thereon, to each party. 
 5.9.4 Distribution of Funds. Deliver
(i) to Seller the Purchase Price, adjusted for prorations, charges and other credits and debits provided for herein and in the Closing Statement; and (ii) to Buyer, or order, any excess funds delivered to Escrow Holder by Buyer. Such funds
shall be delivered by wire transfer or cashier’s check in accordance with instructions for Seller and Buyer; if no instructions are given, Escrow Holder shall deliver such funds by Escrow Holder’s check via overnight courier (or as
otherwise requested by the intended recipient) to the appropriate party at the address set forth for notice in this Agreement. 
  

 20 

 5.10 Completion of Documents. Escrow Holder is authorized to insert the date of
Closing and otherwise to complete the documents deposited in Escrow, where appropriate and consistent with this Agreement. 

5.11 Possession and Tenant Notices. Possession of the Property shall be delivered to Buyer by Seller at the Closing, subject only
to the rights of the Tenant under the Lease, rights arising under any Property Contracts not terminated by Seller pursuant to Section 4.4.2 above, and rights arising under the matters included in the Required Title Condition. Seller and Buyer
covenant and agree to execute at Closing a written notice of the acquisition of the Property by Buyer, for transmittal to the Tenant. Such notice shall be prepared by Buyer, at Buyer’s cost and expense, and approved by Seller, shall notify the
Tenant of the sale and transfer and shall contain appropriate instructions relating to the payment of future rentals, the giving of future notices and other matters reasonably required by Buyer or required by law. Unless a different procedure is
required by applicable law, in which event such laws shall be controlling, Buyer agrees to transmit or otherwise deliver such letters to the Tenant promptly after the Closing. 

ARTICLE 6 - TERMINATION AND DEFAULT 

6.1 Buyer Default. If the sale contemplated hereby is not consummated because of a default by Buyer in its obligation to purchase
the Property in accordance with the terms of this Agreement after Seller has performed or tendered performance of all of its material obligations in accordance with this Agreement, then: (a) this Agreement shall terminate; (b) the Deposit
shall be paid to and retained by Seller; and (c) Seller and Buyer shall have no further obligations to each other except those which survive the termination of this Agreement. Buyer and Seller acknowledge that the damages to Seller in the event
of a breach of this Agreement by Buyer would be difficult or impossible to determine, that the amount of the deposit plus interest represents the parties’ best and most accurate estimate of the damages that would be suffered by Seller if the
transaction should fail to close and that such estimate is reasonable under the circumstances existing as of the date of this Agreement and under the circumstances that Seller and Buyer reasonably anticipate would exist at the time of such breach.
Buyer and Seller agree that Seller’s right to retain the Deposit shall be Seller’s sole remedy, at law and in equity, for Buyer’s failure to purchase the Property in accordance with the terms of this Agreement. Seller hereby waives
any right to an action for specific performance of any provisions of this Agreement. 
 6.2 Seller Default. If the sale
contemplated hereby is not consummated because of a default by Seller in its obligation to sell the Property in accordance with the terms of this Agreement after Buyer has performed or tendered performance of all of its material obligations in
accordance with this Agreement, Buyer shall have the right to exercise one of the following remedies: 
 6.2.1
Waive such failure and proceed to the Closing with no reduction in the Purchase Price, whereupon Seller and Buyer shall have no further obligations to each other. 

6.2.2 Pursue an action for specific performance, and if Buyer is finally successful in such action, Buyer shall have the
right to recover from Seller the sum of the actual and reasonable attorney’s fees which Buyer incurred in connection therewith, but only up to the sum of $10,000.00, whereupon Seller and Buyer shall have no further obligations to each other.

  

 21 

 6.2.3 Terminate this Agreement by notice to Seller and Escrow Holder to that
effect and to recover the full amount of the Deposit (and any interest earned thereon), whereupon Seller and Buyer shall have no further obligations to each other. 

ARTICLE 7 - CASUALTY DAMAGE OR CONDEMNATION 

7.1 Casualty. If the Improvements are materially damaged by casualty prior to the Closing, Buyer shall have the sole option to
elect either to: 
 (a) acquire the Property as is (without reduction in the Purchase Price), plus an assignment
without recourse or credit of any insurance proceeds payable by virtue of such loss or damage plus a credit for any deductible or uninsured loss under said policy; or 

(b) terminate this Agreement and receive back the Deposit (and any interest earned thereon). 

Such right must be exercised within thirty (30) days from the date Seller provides Buyer with notice of the loss of the event giving
rise to such right. If Buyer fails to provide notice of an election, then Buyer shall have been deemed to elect (b) above. 

7.2 Condemnation. In the event that any material portion of the Property should be condemned prior to the Closing, at Buyer’s
sole option, elect either to: 
 (a) terminate this Agreement and receive back the Deposit; or 

(b) close the transaction as contemplated by this Agreement. 

In all other cases, or if Buyer elects to proceed under Section 7.2(b), Buyer shall purchase the Property in accordance with the
terms hereof (without reduction in the Purchase Price) and Seller shall assign to Buyer at Closing all condemnation proceeds payable as a result of such condemnation. Buyer shall be deemed to have elected to proceed under
Section 7.2(a) unless, within thirty (30) days from written notice of the condemnation, Buyer provides Seller with written notice that Buyer elects to close the transaction contemplated by this Agreement pursuant to
Section 7.2(b). 
 ARTICLE 8 - REAL ESTATE COMMISSION 

6. Buyer and Seller each represent to the other that no broker’s or real estate commissions or other fees are or shall be due in
connection with the transactions contemplated hereunder other than fees due to Investment Realty Advisors, Inc. (“Broker”). Broker shall be paid pursuant to a separate agreement with Seller. Each party agrees to indemnify and hold harmless
the other from and against any and all claims, demands or the cost or expense thereof, including reasonable attorney’s fees, arising out of any broker’s commission, fee or other compensation due or alleged to be due in connection with the
transactions contemplated by this Agreement based upon an agreement alleged to have been made or other action alleged to have been taken by the indemnifying party. 

 

 22 

 ARTICLE 9 - MISCELLANEOUS 

9.1 Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the transactions
contemplated herein, and it supersedes all prior discussions, understandings or agreements between the parties. All Exhibits and Schedules attached hereto are a part of this Agreement and are incorporated herein by reference. 

9.2 Binding On Successors and Assigns. Subject to Section 9.3, this Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns. 
 9.3 Assignment by Buyer. Buyer may assign this
Agreement and Buyer’s rights under it only after providing to Seller written notice of Buyer’s intent to so assign (identifying the proposed assignee and its affiliation to Buyer) and only to an entity in which Buyer, or its affiliates,
members or members’ principals, possess, directly or indirectly, the power to direct or cause the direction of its management and policies, whether through the ownership of voting securities or otherwise, and any other assignment is void. No
such assignment will relieve Buyer of its obligations under this Agreement, and Buyer and the assignee will be jointly and severally liable for the performance of such obligations after any such assignment. This Agreement binds, benefits, and may be
enforced by the parties and their respective successors and permitted assigns. 
 9.4 Waiver. The excuse or waiver of the
performance by a party of any obligation of the other party under this Agreement shall only be effective if evidenced by a written statement signed by the party so excusing or waiving. No delay in exercising any right or remedy shall constitute a
waiver thereof, and no waiver by Seller or Buyer of the breach of any covenant of this Agreement shall be construed as a waiver of any preceding or succeeding breach of the same or any other covenant or condition of this Agreement. 

9.5 Governing Law. This Agreement shall be governed by and construed under the internal laws of the State of Florida, without
regard to the principles of conflicts of law. 
 9.6 Counterparts. This Agreement may be executed in any number of
counterparts and it shall be sufficient that the signature of each party appear on one or more such counterparts. All counterparts shall collectively constitute a single agreement. 

 

 23 

 9.7 Notices. All notices or other communications required or provided to be sent by
either party shall be in writing and shall be sent by: (i) United States Postal Service, certified mail, return receipt requested, (ii) any nationally known overnight delivery service for next day delivery, (iii) facsimile with
written confirmation of receipt from sending facsimile machine, or (iv) delivered in person. All notices shall be deemed to have been given on the date when deposited with the United States Postal Service or with any other nationally known
overnight delivery service, on the date when a facsimile is sent or on the date of personal delivery. All notices shall be addressed to the parties at the addresses below: 

 

			
	 To Seller:
	  	 The Oxford Fund/Orlando, L. P. c/o Oxford Real Estate Advisors

One Oxford Centre, Suite 4500
 Pittsburgh, PA
15219
 Attention: Laurence R. Castonguay

Telephone: (412) 261-1500
 Facsimile: (412)
395-2173
 Email: lcastonguay@orea-pgh.com

		
	 And with a copy to:
	  	 Oxford Development Company

One Oxford Centre, Suite 4500
 Pittsburgh, PA
15219
 Brian M. Albert, General Counsel

Telephone: (412) 261-1500
 Facsimile: (412)
642-7543
 Email: balbert@oxforddevelopment.com

		
	 To Buyer:
	  	 BC Development Co., LLC

4705 Central Street
 Kansas City, Missouri 64112

 Attention: Dan Carr
 Telephone: (816)
268-7577
 Facsimile: (816) 960-1441

Email: dcarr@lane4group.com

		
	 And with a copy to:
	  	 Gregory Kaplan, PLC - Attorneys At Law

7 East Second Street (23224-4253)
 Post Office
Box 2470
 Richmond, VA 23218-2470

Attention: Christopher J. Hoctor
 Telephone:
(804) 916-9035
 Facsimile: (804) 916-9135

Email: choctor@gregkaplaw.com

Any address or name specified above may be changed by notice given to the addressee by the other party in accordance with this Section 9.7. The
inability to deliver notice because of a changed address of which no notice was given as provided above, or because of rejection or other refusal to accept any notice, shall be deemed to be the receipt of the notice as of the date of such inability
to deliver or rejection or refusal to accept. Any notice to be given by any party hereto may be given by the counsel for such party. 

9.8 Intentionally omitted. 
  

 24 

 9.9 IRS Real Estate Sales Reporting. Buyer and Seller agree that Escrow Holder shall
act as “the person responsible for closing” the transaction which is the subject of this Agreement pursuant to Section 6045(e) of the Code and shall prepare and file all informational returns, including without limitation, IRS
Form 1099-S, and shall otherwise comply with the provisions of Section 6045(e) of the Code. 
 9.10 Time Periods. If
the time for performance of any obligation hereunder expires on a day that is not a business day, the time for performance shall be extended to the next business day. 

9.11 Modification of Agreement. No modification of this Agreement shall be deemed effective unless in writing and signed by the
party against whom enforcement is sought. 
 9.12 Further Instruments. Each party, promptly upon the request of the
other, shall execute and have acknowledged and delivered to the other or to the Escrow Holder, as may be appropriate, any and all further instruments reasonably requested or appropriate to evidence or give effect to the provisions of this Agreement
and which are consistent with the provisions of this Agreement. 
 9.13 Descriptive Headings; Word Meaning. The
descriptive headings of the paragraphs of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any provisions of this Agreement. Words such as “herein,”
“hereinafter,” “hereof’ and “hereunder” when used in reference to this Agreement, refer to this Agreement as a whole and not merely to a subdivision in which such words appear, unless the context otherwise requires. The
singular shall include the plural and the masculine sender shall include the feminine and neuter, and vice versa, unless the context otherwise requires. The word “including” shall not be restrictive and shall be interpreted as if followed
by the words “without limitation”. 
 9.14 Business Day. As used herein, the term “business day”
means any day other than Saturday, Sunday and any day which is a legal holiday in the State of Florida. 
 9.15 Construction
of Agreement. 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 primarily by counsel for one of the parties, it being recognized that both
Buyer and Seller have contributed substantially and materially to the preparation of this Agreement. 
 9.16
Severability. The parties hereto intend and believe that each provision in this Agreement comports with all applicable local, state and federal laws and judicial decisions. However, if any provision in this Agreement is found by a court of
law to be in violation of any applicable local, state or federal law, statute, ordinance, administrative or judicial decision, or public policy, or if in any other respect such a court declares any such provision to be illegal, invalid, unlawful,
void or unenforceable as written, then it is the intent of all parties hereto that, consistent with and with a view towards preserving the economic and legal arrangements among the parties hereto as expressed in this Agreement, such provision shall
be given force and effect to the fullest possible extent, and that the remainder of this Agreement shall be construed as if such illegal, invalid, unlawful, void or unenforceable provision were not contained herein, and that the rights, obligations
and interests of the parties under the remainder of this Agreement shall continue in full force and effect. 
  

 25 

 9.17 Exclusivity. After the Effective Date, and continuing until the earlier of the
Closing Date or the date on which this Agreement is terminated by a party as provided herein, Seller and its respective agents, representatives and employees will abate all marketing efforts for the Land and Improvements. Any existing signs may
remain. Any ordered advertising will be canceled, if cancelable without penalty; otherwise ordered advertising may proceed, but no additional advertising will occur. Brokers and prospective buyers will not be shown the Land and Improvements and will
be given only currently available printed information about the Land and Improvements prepared by Seller’s broker. 
 9.18
Section 1031 Exchange. Either party may consummate the purchase or sale of the Property as part of a so-called like kind exchange (an “Exchange”) pursuant to Section 1031 of the Code, provided that (i) the Closing
shall not be delayed or affected by reason of an Exchange nor shall the consummation or accomplishment of any Exchange be a condition precedent or condition subsequent to a party’s obligations under this Agreement; (ii) any party desiring
an Exchange shall effect its Exchange through an assignment of this Agreement, or its rights under this Agreement, to a qualified intermediary and the other party shall not be required to take an assignment of the purchase agreement for the
relinquished or replacement property or be required to acquire or hold title to any real property for purposes of consummating such Exchange; and (iii) the party desiring an Exchange shall pay any additional costs that would not otherwise have
been incurred by Buyer or Seller had such party not consummated its purchase or sale through an Exchange. Neither party shall by this agreement or acquiescence to an Exchange desired by the other party (1) have its rights under this Agreement
affected or diminished in any manner or (2) be responsible for compliance with or be deemed to have warranted to the other party that such party’s Exchange in fact complies with Section 1031 of the Code. In connection with such
cooperation, Seller agrees, upon request of Buyer to “direct deed” for actual interests in the property to designees of Buyer. 
 7.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above. 
 8. 

[Signatures appear on the following page] 
  

 26 

									
	SELLER:	 		 	 The Oxford Fund/Orlando, L. P.,

a Pennsylvania limited partnership

		 		 		 	 By:    Oxford Fund Management, Inc.,

        its general partner

		 		 		 	        By:	 	/s/ Steven J. Guy
		 		 		 	        Name:	 	Steven J. Guy
		 		 		 	        Title:	 	President
			
	BUYER:	 		 	 BC Development Co., LLC,

a Missouri limited liability company

					
		 		 		 	By:	 	/s/ Richard Baier
		 		 		 	Name:	 	Richard Baier
		 		 		 	Title:	 	Principal
		 		 		 	Federal Tax I.D.: 20-5164785

  

 27 

 CONSENT OF ESCROW HOLDER 

The undersigned Escrow Holder hereby agrees to (i) accept the foregoing Agreement, (ii) be Escrow Holder under said Agreement
and (iii) be bound by said Agreement in the performance of its duties as Escrow Holder; provided, however, the undersigned shall have no obligations, liability or responsibility under (i) this Consent or otherwise unless and until said
Agreement, fully signed by the parties, has been delivered to the undersigned or (ii) any amendment to said Agreement unless and until the same shall be accepted by the undersigned in writing. 

 

									
	DATED: _____________________________	 		 	 CHICAGO TITLE INSURANCE CORPORATION

(“Escrow Holder”)

					
		 		 		 	By:	 	 
		 		 		 	        Its:	 	 

  

 28 

 EXHIBIT “A” 

LEGAL DESCRIPTION 

[to be attached] 
  

 EXHIBIT “A” 

1 

 EXHIBIT “B” 

LIST OF PERSONAL PROPERTY 

[to be attached] 
  

 EXHIBIT “B” 

1 

 EXHIBIT “C” 

Intentionally Omitted 
  

 EXHIBIT “C” 

1 

 EXHIBIT “D” 

LIST OF CURRENT PROPERTY CONTRACTS 

[to be attached] 
  

 EXHIBIT “D” 

1 

 EXHIBIT “E” 

FORM OF DEED 

SPECIAL WARRANTY DEED 

Notice of confidentiality rights: If you are a natural person, you may remove or strike any or all of the following information from any instrument
that transfers an interest in real property before it is filed for record in the public records: your Social Security number or your driver’s license number. 

Date: _________ ___, 2010 
 Grantor:

 Grantor’s Mailing Address: 

Grantee:         BC Development Co., a Missouri corporation 

Grantee’s Mailing Address: _______________________________________ 

Consideration: Cash and a promissory note of even date in the principal amount of ____________________________________ AND NO/100 DOLLARS ($__________)
executed by Grantee, payable to the order of ___________. The note is secured by a vendor’s lien retained in this deed and by a deed of trust of even date from Grantee to ___________________, trustee. 

Property (including any improvements): 

[insert Property Description] 

Reservations from Conveyance: None. 

Exceptions to Conveyance and Warranty: 

Liens described as part of the Consideration and any other liens described in this deed as being either assumed or subject to which title
is taken; validly existing easements, rights-of-way, and prescriptive rights, whether of record or not; all presently recorded and validly existing instruments, other than conveyances of the surface fee estate, that affect the Property; and taxes
for 2010, which Grantee assumes and agrees to pay, and subsequent assessments for that and prior years due to change in land usage, ownership, or both, the payment of which Grantee assumes. [NOTE: This remains subject to modification based on
review of title.] 
  

 EXHIBIT “F” 

1 

 Grantor, for the Consideration and subject to the Reservations from Conveyance and the
Exceptions to Conveyance and Warranty, grants, sells, and conveys to Grantee the Property, together with all and singular the rights and appurtenances thereto in any way belonging, to have and to hold it to Grantee and Grantee’s heirs,
successors, and assigns forever. Grantor binds Grantor and Grantor’s heirs and successors to warrant and forever defend all and singular the Property to Grantee and Grantee’s heirs, successors, and assigns against every person whomsoever
lawfully claiming or to claim the same or any part thereof when the claim is by, through, or under Grantor but not otherwise, except as to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty. 

When the context requires, singular nouns and pronouns include the plural. 

___________________________, a 

							
	 	 	 	 	
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 STATE OF _________________

 COUNTY OF _______________ 

The foregoing instrument was acknowledged before me on the ___ day of ___________, 20__ by the said
______________________________________ of _______________________________, a _____________. 

________________________________________ 

            Notary Public, State of _____________

  

 34 

 EXHIBIT “F” 

FORM OF BILL OF SALE AND ASSIGNMENT 

BILL OF SALE AND ASSIGNMENT 

This Bill of Sale and Assignment (“Assignment”), dated __________, _____, is executed and delivered pursuant to that certain
Real Estate Purchase Agreement (the “Purchase Agreement”) dated as of _____, 2010, by and between __________________________________, a ________________________________ (“Seller”), and __________________, a ________________
(“Buyer”), concerning the real property described in Exhibit “A” attached hereto (the “Land”). All capitalized terms not otherwise defined herein shall have the same meanings given them in the Purchase Agreement.

 1. Assignment. For good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Seller hereby grants, sells, transfers, conveys and delivers to Buyer all of Seller’s interest in all of the following: 

(a) All furniture, equipment, machinery, inventories, supplies, signs and other tangible personal property of every kind
and nature, if any, owned by Seller and installed, located or situated on and used in connection with the operation of the Land or Improvements (the “Personal Property”), including, without limitation, the Personal Property listed on
Exhibit “B” attached hereto and incorporated herein by reference. 
 (b) All of Seller’s
rights in and to the lease and other occupancy agreements covering any portion of the Land or Improvements (the “Lease”) and which are listed on Exhibit “C” attached hereto and incorporated herein by reference including
Seller’s rights to any tenant deposit held by Seller (the “Tenant Deposit”) and any and all rents and other payments owed by such tenant pursuant to the Lease. 

(c) All of Seller’s right, title and interest in all intangible assets of any nature relating to the Land, the
Improvements or the Personal Property, including, without limitation, all of Seller’s right, title, and interest in all (i) warranties and guaranties, if any, relating to the Improvements or Personal Property in the possession of Seller as
set forth on Exhibit “D” attached hereto and incorporated herein, (ii) all use, occupancy, building and operating licenses, permits, approvals and development rights (iii) any trade name or names used or utilized in connection
with the Land and Improvements and (iv) all plans and specifications related to the Land and Improvements, in each case to the extent that Seller may legally transfer the same (the “Intangible Property”). 

(d) All of Seller’s rights in the service contracts affecting the Land or Improvements which are listed on
Exhibit “D” attached hereto and incorporated herein by reference (the “Property Contracts”). 
  

 EXHIBIT “F” 

1 

 (e) All rights, which Seller may have, if any, in and to any tenant data,
telephone numbers and listings, all master keys, all good will, if any, and any and all other rights, privileges and appurtenances owned by Seller and related to or used in connection with the existing business operation of the Property. 

2. Acceptance and Assumption. Buyer hereby accepts the foregoing Assignment. Seller acknowledges that Buyer does
not, except as otherwise specifically provided in the Agreement, assume, directly or indirectly, any liability, obligation, duty or responsibility whatsoever for the payment, discharge or other resolution of any liability, obligation, indebtedness,
lien, security interest, encumbrance, claim or other problem, condition or matter required to be performed in connection with the Intangible Property prior to the date of this Assignment, but Buyer does so assume all of such liabilities, obligation,
indebtedness, lien, security interest, encumbrance, claim or other problem, condition or matter required to be performed in connection with the Intangible Property from and after the date of this Assignment. 

3. Indemnifications. Seller shall defend, indemnify and hold harmless Buyer from and against any liability,
damages, causes of action, expenses, and reasonable attorneys’ fees incurred by Buyer by reason of the failure of Seller to fulfill, perform, discharge, and observe its obligations with respect to the Lease and the Property Contracts required
to be performed before the Closing Date (as defined in the Purchase Agreement). Buyer shall defend, indemnify and hold harmless Seller from and against any liability, damages, causes of action, expenses, and reasonable attorneys’ fees incurred
by Seller by reason of the failure of Buyer to fulfill, perform, discharge, and observe the obligations with respect to the Lease or the Property Contracts required to be performed on or after the Closing Date. 

4. Miscellaneous. 

(a) Seller and Buyer each agrees to execute such other documents and perform such other acts as may be reasonably
necessary or desirable to effectuate this Assignment. 
 (b) This Assignment shall be governed by and construed
in accordance with the laws of the State of Florida. 
 (c) This Assignment shall be binding upon and inure to
the benefit of Seller and Buyer and their respective successors and assigns. 
  

 EXHIBIT “F” 

2 

 IN WITNESS WHEREOF, Seller and Buyer have executed this Assignment as of the date first
above written. 
  

									
	 SELLER:
	 		 	_____________________________, a
		 		 	_____________________________
				
		 		 	By:	 	 
		 		 		 	Name:	 	 
		 		 		 	Title:	 	 
			
	 BUYER:
	 		 	_____________________________, a
		 		 	_____________________________
				
		 		 	By:	 	 
		 		 		 	Name:	 	 
		 		 		 	Title:	 	 

 LIST OF EXHIBITS

  

			
	EXHIBIT “A”	  	LEGAL DESCRIPTION
	EXHIBIT “B”	  	PERSONAL PROPERTY INVENTORY
	EXHIBIT “C”	  	LEASE
	EXHIBIT “D”	  	CURRENT PROPERTY CONTRACTS

  

 EXHIBIT “F” 

3 

 EXHIBIT “G” 

PROPERTY INFORMATION 
  

	1.	Any current outstanding tenant improvements required of the Seller and any outstanding funds owed to the Tenant by the Seller. 

 

	2.	Complete access to the lease relating to the Property. 

  

	3.	A current report outlining Tenant’s name; current rental rate; any prepaid or delinquent rent; any deposits, whether refundable or nonrefundable; and any rental
concessions. 

  

	4.	A current financial statement of Property operations (updated quarterly), including, but not limited to, a statement of revenues and expenses, balance sheets, and a
statement of cash flow from the inception of the lease relating to the Property and a 2010 Budget. (Should Buyer desire to obtain audited financial statements it may do so, subject to the terms and conditions of the Agreement, at its sole cost and
expense.) 

  

	5.	Capital Improvements, if any, that are planned for the next two (2) years; include description and estimated costs. 

 

	6.	Year-to-date copies of the general ledgers related to the Property (updated quarterly) and copies of Seller’s general ledger since the inception of the lease on
the Property detailing individual revenue and expense transactions or invoices. Bank statements and paid invoices which support the general ledger entries will also be provided. 

 

	7.	Copies of current Property tax and insurance bills and insurance certificates and evidence of insurance premiums paid. 

 

	8.	Copies of utility bills since issuance of the certificate of occupancy for the building. 

 

	9.	Copies of any existing management, service, or maintenance contracts pertaining to the operation of the Property and invoices thereof since issuance of the certificate
of occupancy for the building. 

  

	10.	Copies of any personal property rental agreements pertaining to personal property or business equipment used in the operation of the Property. 

 

	11.	Latest environmental, engineering, and structural reports, if any, including but not limited to any Phase I and Phase II environmental reports and any property
condition reports. 

  

	12.	A set of as-built drawings. 

  

	13.	Copy of the latest survey, if one exists. 

  

	14.	Copies of certificates of occupancy. 

  

 EXHIBIT “G” 

1 

	15.	Copies of any zoning and/or conditional use or similar permits or actions permitting the current use of the Property. 

 

	16.	Any other items reasonably requested by Buyer, provided that receipt of these items shall not delay the Closing or the expiration of the Due Diligence Period.

  

 EXHIBIT “G” 

2 

 EXHIBIT “H” 

FORM OF EASEMENT ESTOPPEL 

[May not be applicable.] 

THIS ESTOPPEL CERTIFICATE (this “Certificate”) is made the              day
of                 , 2010, by _______________________________________________ (“Grantor”), in favor of ___________________________________
(“Grantee”), and _____________________________, a Delaware limited liability company (“Purchaser”). 

RECITALS 
 A.
Grantor and Grantee executed that certain Reciprocal Easement and Restrictive Covenants Agreement dated ____________________ and recorded as Instrument Number _____________ on ________________ in the Official Records of ___________________,
___________ (the “Agreement”). 
 B. The Agreement establish certain covenants with respect the certain real property
located in __________________________ and described on Exhibit “A” attached hereto and incorporated by reference (the “Property”). 

C. On the date hereof, Grantee is the ___________ owner of the Property. Grantee has agreed to sell the Property to Purchaser and
Purchaser has agreed to buy the Property from Grantee. 
 D. Grantee and Purchaser desire for Grantor to confirm the status of
the Agreement and certify certain facts with respect to the Agreement. 
 NOW, THEREFORE, for and in consideration of Ten
Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Grantor hereby certifies as follows: 

1. The Agreement is in full force and effect in accordance with their respective terms and each constitutes the entire agreement with
respect to the subject matter thereof. 
 2. The Agreement has not been further modified, supplemented or amended in any respect
and no material term thereunder has been waived by any party. 
 3. No event has occurred or situation exists which would, with
the passage of time, the giving of notice, or both, constitute a default by Grantee under the Agreement. 
 4. Grantee is in
full compliance with all applicable provisions of the Agreement. 
 5. All maintenance, repair and other obligations under the
Agreement required to be performed by Grantee as of the date hereof have been satisfied. 
  

 EXHIBIT “H” 

 6. There are no outstanding sums due from Grantee with respect to the maintenance repair or
any other obligation pursuant to the Agreement. 
 7. Grantor and its affiliates have no rights (vested or contingent) to
repurchase the Property pursuant to ______________ of Agreement or otherwise. 
 8. Grantor hereby confirms that it
(i) received notice of Grantee’s proposed sale of the Property to Purchase in accordance with the terms of Agreement, (ii) hereby waives and releases any rights Grantor has under the terms of Agreement with respect to Grantee’s
proposed sale of the Property to Purchaser, including without limitation any rights of Grantor relating to its right of first offer set forth in Agreement, and (iii) Grantor has communicated to Grantee that Grantor has no interest in acquiring
the Property from Grantor. 
 9. Grantor agrees that from and after the date hereof it shall cause a copy of any written notice
sent to Grantee pursuant to either of the Agreement to be simultaneously delivered to Purchaser at the address listed below in accordance with the provisions of the particular Agreement: 

 

			
	 To Purchaser:
	  	 BC Development Co., LLC

4705 Central Street
 Kansas City, Missouri 64112

 Attention: Dan Carr
 Telephone:
816.268.7577
 Facsimile: (816) 960-1441

Email: dcarr@lane4group.com

		
	 And with a copy to:
	  	 Gregory Kaplan, PLC
 7 East
Second Street
 Richmond, Virginia 23224

Attn: Christopher J. Hoctor
 Telephone: (804)
916-9035
 Facsimile: (804) 916-9045

E-mail: choctor@gregkaplaw.com

10. No legal action has been instituted by Grantor or its agents against Grantee, Purchaser, the Property or any other party to the
Agreement. 
 11. Grantor acknowledges that Purchaser will rely on this Certificate in purchasing the Property from Grantee, and
that without this Certificate the Purchaser would not purchase the Property. This Certificate shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. This Certificate shall not be modified
other than by an instrument in writing signed by the parties hereto or their respective successors and assigns. This Certificate shall estop the Grantor from asserting a defense or claim against Purchaser which is inconsistent with the facts
contained in this Certificate. 
  

 EXHIBIT “H” 

 [Remainder of page intentionally left blank; signatures appear on following page] 

 

 EXHIBIT “H” 

 IN WITNESS WHEREOF, Grantor has caused this Certificate to be executed as of the date and year first above
written. 
  

									
	GRANTOR:
	 	 	,
	a	 	 
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 [Signature Page to
Easement Estoppel] 
 LIST OF EXHIBIT 
  

			
	EXHIBIT “A”	  	LEGAL DESCRIPTION

  

 EXHIBIT “H” 

 EXHIBIT “I” 

Form of Irrevocable Rent Direction Letter 

______________ ___, 2010 
 [Depository
Institution] 
 [Address 1] 
 [Address
2] 
  

	Re:	Irrevocable Notice for Disbursements 

Ladies and Gentlemen: 
 Reference is made to
that certain [Deposit Account Agreement] between [Seller Name] (“Owner”) and [Depository Institution] (the “Bank”) dated as of ____________________ (“Account Agreement”) designated account number
########### (the “Account”). 
 As you know, Owner has entered into that certain Purchase Agreement and Escrow Instructions
with BC Development Co., LLC, a Missouri limited liability company (together with its successors and assigns, the “Buyer”) for the purchase of certain real property owned by Owner (the “Property”). Owner leases the
Property to a single tenant, and the sole tenant of the Property deposits its rent payment into the Account monthly. Contemporaneously with Buyer’s acquisition of the Property from Owner, Owner will assign all of its rights in and to the lease
for the Property and rents received from the Property pursuant to a Bill of Sale, Assignment and Assumption Agreement by and between Owner and Buyer. However, the tenant under the lease may continue to make payments to the Account instead of to an
account designated by Buyer. 
 In order to ensure that rent payments are directed to Buyer, Owner hereby irrevocably directs Bank to disburse
funds received into the Account by Bank after the date hereof to an account designated by Buyer in writing to Bank immediately after receipt of such funds by Bank. 

Owner hereby agrees that this Letter Agreement shall be irrevocable, shall not be amended except with the prior written consent of the Buyer and shall
supersede any modification, amendment or alteration of the Account Agreement (whether executed prior to this Letter Agreement or after). No changes shall be made to the Account Agreement regarding the amount of or conditions to disbursement or any
other material terms. 
 The parties executing this Letter Agreement recognize and agree that Buyer is the third-party beneficiary of this
Letter Agreement. This Letter Agreement may be signed in counterparts, each of which is an original and all of which together constitute one document. 
  

 EXHIBIT “I” 

, 

			
	SELLER:
	
	[Seller]
		
	By:	 	 
	Name:	 	 
	Its:	 	 
	
	 Agreed and acknowledged as of

____________ ______, 2010:

	
	 BANK:
  

[Depository Institution]

		
	By:	 	 
	Name:	 	 
	Its:	 	 

 [Signature page to
Irrevocable Letter Agreement re Deposits] 
  

 EXHIBIT “I” 

 FIRST AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT 

THIS FIRST AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT (this “First Amendment”) is entered
into as of this 17th day of September, 2010, by and
between The Oxford Fund/Orlando, L. P., a Pennsylvania limited partnership (“Seller”) and BC Development Co., LLC, a Missouri limited liability company, its successors and assigns (“Buyer”).

 RECITALS 

A. Seller and Buyer entered into that certain Real Estate Purchase Agreement dated August 2, 2010 (the “Original
Agreement”) pursuant to which Seller agreed to sell, and Buyer agreed to purchase, certain parcels of real property and more particularly described in the Original Agreement. 

B. Seller and Buyer desire to amend the Original Agreement as set forth herein. 

AGREEMENT 

NOW, THEREFORE, in consideration of the promises and mutual agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows: 
 1. Due Diligence
Period. Section 3.2 of the Original Agreement is hereby deleted and replaced with the following: 
 3.2
Due Diligence Period. Buyer shall have from the Effective Date until 5:00 p.m. EST on September 22, 2010 (the “Due Diligence Period”) to physically inspect the Property, review the economic data, underwrite the Tenant and
review the Lease, conduct appraisals, perform examinations of the physical condition of the Improvements, examine the Property for the presence of Hazardous Materials (defined in Section 4.2.2), and to otherwise conduct such due diligence
review of the Property and all of the items to be furnished by Seller to Buyer pursuant to Section 3.3 below, and all records and other materials related thereto as Buyer deems appropriate. 

2. Entire Agreement. The Original Agreement, as modified by this First Amendment, constitutes the entire agreement between the
parties hereto with respect to the transactions contemplated therein. Except as modified by this First Amendment, the Original Agreement remains unchanged and unmodified and in full force and effect, and the parties hereto hereby ratify and affirm
the same. 

 3. Counterparts. This First Amendment may be executed in any number of counterparts
and it shall be sufficient that the signature of each party appear on one or more such counterparts. All counterparts shall collectively constitute a single agreement. Signatures to this First Amendment transmitted by facsimile or electronic mail
shall be treated as originals in all respects. 
 [Remainder of page intentionally left blank; signatures appear on following
pages] 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have entered into this First Amendment as of the date
above first written. 
  

									
	SELLER:	 		 	The Oxford Fund/Orlando, L. P.,
		 		 	a Pennsylvania limited partnership
				
		 		 	By:	 	Oxford Fund Management, Inc.,
		 		 		 	its general partner
					
		 		 		 	By:	 	 /s/ Steven J. Guy

		 		 		 	Name:	 	Steven J. Guy
		 		 		 	Title:	 	President
			
	BUYER:	 		 	BC Development Co., LLC,
		 		 	a Missouri limited liability company
				
		 		 	By:	 	 /s/ Dan Carr

		 		 	Name:	 	Dan Carr
		 		 	Title:	 	Principal
		 		 	Federal Tax I.D.: 20-5164785

[Signature Page to First Amendment to Real Estate Purchase Agreement and Escrow Instructions] 

[Signature Page to First Amendment to Real Estate Purchase Agreement and Escrow InstructionsRoyal Palm Beach, Florida Real Estate Purchase Agreement

 Exhibit 10.27 

 
  

 
 CONTRACT OF SALE

 between 

South Florida Federal Partners—West Palm Beach, LLC, 

the Seller, 

and 

BC Development Co., LLC 

the Purchaser, 

dated August 2, 2010 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page
	1.	  	Definitions	  	1
			
	2.	  	Subject of Sale	  	4
			
	3.	  	Purchase Price; Deposit	  	5
			
	4.	  	Payment	  	5
			
	5.	  	Due Diligence Period	  	5
				
		  	5.1	  	Inspection	  	5
				
		  	5.2	  	Purchaser Indemnification	  	6
				
		  	5.3	  	Property Documents	  	6
				
		  	5.4	  	Completeness; Accuracy	  	8
				
		  	5.5	  	Termination Right	  	8
				
		  	5.6	  	Form 527	  	8
				
		  	5.7	  	Assumed Property Contracts	  	8
			
	6.	  	Title	  	8
				
		  	6.1	  	Title Commitment	  	8
				
		  	6.2	  	Status of Title	  	9
				
		  	6.3	  	Non-Permitted Title Objections	  	9
				
		  	6.4	  	Property Debt	  	9
				
		  	6.5	  	Sale “As Is”	  	10
			
	7.	  	Release of Seller	  	10
			
	8.	  	Representations	  	11
				
		  	8.1	  	Seller’s Representations	  	11
				
		  	8.2	  	Knowledge	  	13
				
		  	8.3	  	Survival	  	13
				
		  	8.4	  	Notice of Material Adverse Change	  	13
				
		  	8.5	  	Liability for Misrepresentations	  	13
				
		  	8.6	  	Purchaser’s Representations	  	14
			
	9.	  	Seller’s Covenants	  	15
				
		  	9.1	  	Leasing Practice	  	15
				
		  	9.2	  	Personal Property and Equipment	  	16
				
		  	9.3	  	Tax Protest Proceedings	  	16
				
		  	9.4	  	Operation and Maintenance	  	16

  

 i 

 TABLE OF CONTENTS 

 

							
	 	  	Page
		 	9.5	  	Lease Status Report and GSA Consents	  	17
			
	10.	 	Closing	  	17
				
		 	10.1	  	Closing Deliveries	  	17
				
		 	10.2	  	Conditions Precedent to Obligation of Purchaser	  	19
				
		 	10.3	  	Conditions Precedent to Obligation of Seller	  	20
				
		 	10.4	  	Closing and Location	  	21
				
		 	10.5	  	Closing Expenses	  	21
				
		 	10.6	  	Prorations and Credits at Closing	  	22
			
	11.	 	Default	  	23
				
		 	11.1	  	Purchaser’s Default	  	23
				
		 	11.2	  	Seller’s Default	  	23
			
	12.	 	Risk of Loss	  	23
				
		 	12.1	  	Condemnation	  	23
				
		 	12.2	  	Destruction or Damage	  	24
			
	13.	 	Escrow	  	25
				
		 	13.1	  	Closing Escrow	  	25
			
	14.	 	Arbitration	  	27
			
	15.	 	Miscellaneous	  	27
				
		 	15.1	  	Broker	  	27
				
		 	15.2	  	Assignment of this Contract	  	27
				
		 	15.3	  	Attorneys’ Fees	  	28
				
		 	15.4	  	Notices	  	28
				
		 	15.5	  	Further Assurances	  	29
				
		 	15.6	  	Confidentiality	  	30
				
		 	15.7	  	Recording	  	30
				
		 	15.8	  	Successors and Assigns	  	30
				
		 	15.9	  	Entire Contract; Time is of the Essence	  	31
				
		 	15.10	  	Waiver and Modifications	  	31
				
		 	15.11	  	Captions and Titles	  	31
				
		 	15.12	  	Construction	  	31
				
		 	15.13	  	Non-Business Days	  	31
				
		 	15.14	  	Governing Law and Jurisdiction	  	31
				
		 	15.15	  	Counterparts	  	31

  

 ii 

 TABLE OF CONTENTS 

 

							
	 	  	Page
		 	15.16	  	No Third Party Beneficiary	  	31
				
		 	15.17	  	Submission not an Offer	  	32
				
		 	15.18	  	Severability	  	32
				
		 	15.19	  	Radon Gas	  	32
				
		 	15.20	  	No Construction Against Drafter	  	32
				
		 	15.21	  	Attorneys’ Fees	  	32
				
		 	15.22	  	Waiver of Jury Trial	  	32

 SCHEDULES 

 

			
	Schedule A	  	Legal Description of Property
	Schedule A-1	  	Personal Property
	Schedule B	  	Bill of Sale and Assignment and Assumption Agreement
	Schedule C	  	Deed
	Schedule D	  	GSA Lease
	Schedule E	  	Rent Direction Notice
	Schedule F	  	Seller’s Additional Creditors
	Schedule G	  	Additional Property Documents
	Schedule H	  	Form of Contractor’s Qualifications and Financial Information
	Schedule I	  	Property Contracts
	Schedule J	  	Pending Litigation

  

 iii 

 CONTRACT OF SALE 

THIS CONTRACT OF SALE (this “Contract”) is made and entered into as of August 2, 2010 (the
“Effective Date”), by and between South Florida Federal Partners—West Palm Beach, LLC (“Seller”) and BC Development Co., LLC (“Purchaser”). 

RECITALS 

WHEREAS, Seller owns certain real property located at 9300 Belvedere Road, Royal Palm Beach, Florida, as further described on Schedule
A attached hereto (together with the improvements thereon, the “Property”). 
 WHEREAS, the Purchaser
desires to purchase the Premises (as defined in Section 2.1 below), on the terms and conditions and as more particularly set forth herein. 

NOW, THEREFORE, intending to be legally bound hereby, the parties agree as follows: 

1. Definitions. 
 The
terms defined in this Article shall for all purposes of this Contract have the meanings herein specified unless the context requires otherwise. 

(a) “Assumed Property Contracts” shall have the meaning set forth in Section 5.7 

(b) “Bill of Sale and Assignment” shall mean a Bill of Sale and Assignment and Assumption Agreement in
the form set forth in Schedule B, attached hereto. 
 (c) “Broker” shall have the meaning
set forth in Section 15.1. 
 (d) “Business Day” shall mean any day other than a Saturday,
Sunday or other day on which commercial banks are authorized to close under United States federal law or the law of the State of Florida. 

(e) “Casualty” shall have the meaning set forth in Section 12.2(a). 

(f) “Claim” shall have the meaning set forth in Article 14. 

(g) “Claim Against Purchaser” shall have the meaning set forth in Section 5.2. 

(h) “Claims & Liabilities” shall have the meaning set forth in Article 7. 

(i) “Closing” shall mean the closing of the transaction contemplated by this Contract that will occur on
the Closing Date. 
 (j) “Closing Date” shall mean the date the Closing occurs as determined by
Section 10.4(a) and (b). 
 (k) “Contract” shall have the meaning set forth in the
preamble. 

 (l) “Creditor Agreements” shall mean written agreements
with one or more of Seller’s Creditors under the terms of which the Seller’s Creditors agree to release a claim against Seller or the Property or both in return for a specified payment at Closing. 

(m) “Deed” shall mean a Special Warranty Deed in the form set forth in Schedule C attached hereto,
conveying title to the Property from the Seller to Purchaser or to Purchaser’s permitted assignee. 
 (n)
“Delinquent Rents” shall have the meaning set forth in Section 10.6(b). 
 (o)
“Deposit” shall have the meaning set forth in Section 3.2, and as further provided for by Section 10.4(a). 

(p) “Due Diligence Period” shall have the meaning set forth in Section 5.1(a). 

(q) “Effective Date” shall have the meaning set forth in the preamble. 

(r) “Equipment” shall have the meaning set forth in Section 2.1. 

(s) “Escrow Agent” shall mean Chicago Title Insurance Company at 2701 Gateway Drive, Pompano Beach,
Florida 33069, Attn: Al Gomez, or such other national title insurance company as may be selected by Seller. 

(t) “Evaluation Material” shall have the meaning set forth in Section 15.6(a). 

(u) “Final Determination” shall have the meaning set forth in Section 14(b). 

(v) “First United” shall mean the lender holding the first priority lien on the Property. 

(w) “First United Loan Documents” shall mean all documents between First United and Seller and/or any
guarantor of Seller’s obligations to First United. 
 (x) “First United Release” shall mean
a complete release by First United, any all affiliates thereof or successors or assigns thereto of Seller and all guarantors of any and all liabilities and obligations under the First United Loan Documents, including a release of First United’s
lien on the Property, and any related obligations in a form acceptable to Seller in its reasonable discretion. 

(y) “GSA Consent” shall mean the consent required pursuant to the GSA Lease from the GSA Tenant in the
form provided by the appropriate contracting officer for such GSA Tenant related to the Seller’s sale of the Property to Purchaser. 

(z) “GSA Lease” shall mean the lease, amendments, supplements and modifications described on Schedule
D, including the SFO. 
 (aa) “GSA Lease Modification” shall have the meaning set forth in
Section 9.1(a). 
  

 2 

 (bb) “GSA Tenant” shall mean the tenant under the GSA
Lease. 
 (cc) “Hazardous Material” shall mean any substance, chemical, waste or other material
which is listed, defined or otherwise identified as “hazardous” or “toxic” under any federal, state, local or administrative agency ordinance or law. 

(dd) “Improvements” shall mean the improvements constructed on the Property. 

(ee) “Key Person” shall have the meaning set forth in Section 8.2. 

(ff) “Known to Purchaser” or to “Purchaser’s Knowledge” means the actual knowledge
of Richard Baier. 
 (gg) “Lease Status Report” shall have the meaning set forth in
Section 9.5(a). 
 (hh) “Non-Permitted Title Objections” shall have the meaning set forth
in Section 6.3. 
 (ii) “Permitted Exceptions” shall have the meaning set forth in
Section 6.2. 
 (jj) “Personal Property” shall have the meaning set forth in
Section 2.1. 
 (kk) “Plans and Specifications” shall mean the plans and specifications for
the Improvements. 
 (ll) “Preliminary Settlement Statement” shall have the meaning set forth in
Section 10.6(c). 
 (mm) “Premises” shall have the meaning set forth in Section 2.1.

 (nn) “Property” shall have the meaning set forth in the recitals. 

(oo) “Property Contracts” shall have the meaning set forth in Section 8.1(d). 

(pp) “Property Documents” shall have the meaning set forth in Section 5.3. 

(qq) “Purchase Price” shall have the meaning set forth in Section 3.1. 

(rr) “Purchaser” shall have the meaning set forth in the preamble. 

(ss) “Related Parties” shall have the meaning set forth in Section 15.6(b). 

(tt) “Released Parties” shall have the meaning set forth in Article 7. 

(uu) “Rent Direction Notice” shall mean a notice in the form set forth in Schedule E, attached
hereto. 
 (vv) “Seller” shall have the meaning set forth in the preamble. 

 

 3 

 (ww) “Seller’s Creditors” shall mean the parties who
have the right to assert a lien against the Property or to assert a claim for which Purchaser would be liable following Closing, as well as those additional creditors listed in Schedule F. 

(xx) “Seller’s Obligations” shall mean an amount equal to (i) the monetary obligations to
Seller’s Creditors, as such obligations are reduced pursuant to the terms of the Creditor Agreements, if any, as applicable, and (ii) amounts due from Seller (A) for all other taxes, charges, costs and fees payable by Seller with
respect to the Closing, including without limitation documentary stamp taxes, and charges and escrow fees, and (B) necessary to satisfy Seller’s obligations under this Contract or under the Settlement Statement. 

(yy) “Settlement Statement” shall mean the settlement statement for the Closing prepared by Escrow Agent
no less than two (2) Business Days prior to such Closing Date approved by the parties hereto no later than one (1) business day prior to such Closing Date which reflects the Deposit, the Preliminary Proration Statement and any other
adjustments applicable to the pursuant to the terms of this Contract. 
 (zz) “SFO” shall mean
that certain Solicitation for Offers and any amendments, supplements and modifications as described on Schedule D. 

(aaa) “Survey” shall have the meaning set forth in Section 5.3(b). 

(bbb) “Survival Period” shall have the meaning set forth in Section 8.3. 

(ccc) “Taking” shall have the meaning set forth in Section 12.1(a). 

(ddd) “Title Commitment” shall have the meaning set forth in Section 6.1. 

(eee) “Title Company” shall mean Chicago Title Insurance Company, or such other national title insurance
company selected by Seller. 
 (fff) “Title Policy” shall have the meaning set forth in
Section 5.3(g). 
 2. Subject of Sale. 

2.1 The parties agree that at Closing, Seller shall convey to Purchaser, all of Seller’s right, title and interest, if any, in and
to: (a) the Property; (b) all leasehold improvements, fixtures and equipment located on the Property, to the extent owned by Seller (collectively, the “Equipment”); (c) all tangible personal property located on the
Property, including any and all furniture, carpeting, draperies and curtains and other items of personal property owned by Seller, located on and used exclusively in connection with the operation of, the Property (collectively, the “Personal
Property”), but no part of the Purchase Price shall be deemed to be paid for the above referenced Equipment or Personal Property; (d) rights of way, appurtenances, easements, sidewalks, alleys, gores or strips of land adjoining or
appurtenant to the Property and used in connection therewith; (e) to the extent assignable, trade names and any other intangible personal property used in connection with the operation of the Property; (f) the GSA Lease and all rents and
other sums due thereunder from and after the Closing; (g) to the extent assignable, all contracts and agreements relating to any tenant improvement, moving, design and refurbishment 

 

 4 

 
requirements under the GSA Lease; (h) to the extent assignable, all warranties and guaranties (express or implied) issued to, and held in the name of, Seller in connection with the Property;
and (i) to the extent assignable, all permits, licenses, approvals and authorizations issued by any governmental authority in favor of Seller in connection with the Property ((a) through (i) herein referred to collectively as the
“Premises”). 
 3. Purchase Price; Deposit. 

3.1 The purchase price (the “Purchase Price”) for the Premises is the sum of TWENTY-ONE MILLION AND NO/100s DOLLARS
($21,000,000.00). 
 3.2 The Purchaser shall pay (i) on or before the Effective Date, FIFTY THOUSAND AND NO/100s DOLLARS
($50,000.00); and (ii) on or before the expiration of the Due Diligence Period, ONE HUNDRED FIFTY THOUSAND AND NO/100s DOLLARS ($150,000.00) (collectively, (i) and (ii), together with any interest earned thereon, the
“Deposit”). The Deposit shall be held in escrow by Escrow Agent, in an interest-bearing escrow account with interest to accrue for the benefit of the party entitled to the Deposit hereunder. Purchaser’s failure to deposit any
portion of the Deposit when and as due and payable hereunder shall constitute an immediate default hereunder, with no notice or cure rights. 

3.3 Purchaser shall deposit with the Escrow Agent an amount equal to the Purchase Price less the amount of the Deposit, on or before 3:00
p.m. (Eastern time) on the Closing Date. 
 4. Payment. 

4.1 All payments to be made by Purchaser pursuant to the terms hereof, shall be made by electronic wire transfer of immediately available
federal funds to an account designated by Escrow Agent. The Deposit and the Purchase Price shall be held and disbursed by the Escrow Agent in accordance with the terms hereof. 

4.2 In the event Purchaser defaults under this Contract, Escrow Agent shall pay the Deposit to Seller, who shall retain the Deposit in
accordance with Section 11.1 below. 
 4.3 In the event this Contract is terminated by reason other than Purchaser’s
default, Escrow Agent shall pay the Deposit to Purchaser. 
 4.4 The Deposit shall be applied toward the Purchase Price in the
event Closing occurs hereunder. 
 5. Due Diligence Period. 

5.1 Inspection. 

(a) From the Effective Date until the date which is thirty (30) days after the Effective Date (the “Due
Diligence Period”), Purchaser may inspect the Property in accordance with the terms hereof. Purchaser agrees that its rights to enter upon and inspect or examine the Property are subject to the terms, covenants and conditions set forth in
the GSA Lease, including, but not limited to, the GSA Tenant’s security requirements and internal policies and procedures, 

 

 5 

 
and Purchaser will not: disturb or interfere with the use of the Property; interfere with the operation and maintenance of the Property in any respect; damage any part of the Property or any
Personal Property owned or held by Seller or the GSA Tenant, or any other person or entity; injure or otherwise cause bodily harm to Seller or the GSA Tenant, or to any of their respective agents, guests, invitees, contractors and employees, or to
any other person or entity; cause by omission or act or otherwise permit any liens to attach to the Property; or reveal or disclose any information obtained concerning the Property and the Property Documents to any unauthorized person. 

(b) Purchaser will: (i) cause all of the parties which are to perform physical inspections and/or testing on the
Property to maintain (A) comprehensive general liability (occurrence) insurance, and (B) worker’s compensation insurance, both in amounts which reasonably prudent consultants in their field customarily maintain, insuring the GSA
Tenant, Seller, Purchaser and such other parties as Seller shall reasonably request, covering any accident or event arising in connection with the presence of Purchaser or its agents on the Property, and deliver evidence of insurance verifying such
coverage to Seller, prior to permitting any such parties to enter upon the Property; (ii) promptly pay when due the costs of all entry and inspections and examinations done with regard to the Property by or on behalf of Purchaser;
(iii) cause any inspection to be conducted in accordance with standards customarily employed in the industry and in compliance with all applicable laws, regulations or ordinances; (iv) provide to Seller copies of any third party studies,
reports or test results received by Purchaser regarding the Property, promptly after such receipt, in connection with such inspection; (v) repair and restore the Property to the condition in which the same were found before any such entry upon
the Property and inspection or examination was undertaken; and (vi) comply, and cause its agents to comply, with all confidentiality provisions of the GSA Lease and this Agreement. Purchaser will not conduct test boring or other physically
invasive testing without obtaining Seller’s prior written consent in Seller’s sole discretion. 
 5.2 Purchaser
Indemnification. Purchaser hereby indemnifies, defends and holds Seller and its partners, agents, directors, officers, employees, members, successors and assigns harmless from and against any and all physical damage and any and all losses or
liabilities caused by any of the inspections, investigations, examinations, sampling or tests conducted by Purchaser or any of its agents, officers or employees, whether prior to or after the Effective Date, with respect to the Property or any
violation of, or failure to comply with, the provisions of Section 5.1 above and this Section 5.2 (each a “Claim Against Purchaser”). The foregoing indemnification shall not apply to physical conditions existing on the
Property prior to the Effective Date, but shall apply to any exacerbation thereof caused by any such inspection, investigation, examination, sampling or test or any such violation of, or failure to comply with, the provisions of Section 5.1
above and this Section 5.2. This provisions of this Section 5.2 shall survive termination of this Agreement or Closing. 

5.3 Property Documents. Within one (1) Business Day after the Effective Date, Seller shall provide Purchaser, or shall
identify and make the same available for inspection and examination by Purchaser either at the Property or such other location as may be mutually acceptable to Seller and Purchaser (collectively, “Property Documents”), copies of the
following materials, to the extent same are in Seller’s possession or control, all without representation or warranty of any kind (except as expressly provided in Section 8.1): 

(a) The GSA Lease. 
  

 6 

 (b) The existing survey for the Property (the “Survey”).

 (c) All currently applicable subdivision plats and building plans or other plans of the Property, which are in
Seller’s possession or control. 
 (d) Access to all CADD files, if any, for all drawings and to the Plans
and Specifications. 
 (e) All soil and environmental reports. 

(f) All engineering reports, including structural, plumbing, drainage, electrical, mechanical and civil. 

(g) The existing title policy (the “Title Policy”) and any existing title commitment. 

(h) The Property Contracts. 

(i) All utility invoices or assessments (including water, wastewater, electricity, telephone, cable television and gas, if
any). 
 (j) Real estate and Personal Property tax bills or assessments for the current year. 

(k) All warranties and guarantees for the construction of the improvements on the Property or other work/equipment.

 (l) All reports and/or certifications regarding fire or life safety inspections, elevator inspections.

 (m) Building Permits and Certificates of Occupancy. 

(n) Operating budgets for the current year. 

(o) Access to review the correspondence files, except for materials which are confidential or privileged in nature as
determined by Seller in its sole but reasonable judgment. 
 (p) All certificates, licenses, permits and
authorizations, including, any permits and licenses relating to any environmental matters. 
 (q) Insurance
policies and certificates. 
 (r) Monthly operating statements since building inception and invoice support.

 (s) List of all lawsuits affecting Seller or the Property and copies of the pleadings, if requested by
Purchaser. 
  

 7 

 (t) List of claims against Seller that do not constitute “Seller’s
Obligations” 
 To the extent not included as part of the foregoing Property Documents, Seller shall also provide Purchaser
or make available to Purchaser those items listed in Schedule G, attached hereto and incorporated herein by this reference, but only to the extent same are in Seller’s possession or control. 

5.4 Completeness; Accuracy. Purchaser acknowledges and agrees that, except as expressly set forth in this Contract, Seller cannot
and does not represent as to the truth, completeness or accuracy of any of the Property Documents. If Purchaser elects to supplement, update or modify the Property Documents or to have the Property Documents assigned or endorsed to Purchaser,
Purchaser must pay for the same at Purchaser’s sole cost and expense. 
 5.5 Termination Right. Purchaser shall also
have the right to terminate this Contract , for any, or no reason whatsoever, in Purchaser’s sole discretion, prior to the expiration of the Due Diligence Period. Unless Purchaser provides written notice to Seller and Escrow Agent prior to the
expiration of the Due Diligence Period, confirming Purchaser’s election to proceed to Closing, Purchaser shall be deemed to have elected to terminate this Agreement in accordance with this Section 5.5, in which event the Deposit shall be
promptly returned to Purchaser by the Escrow Agent (without prior authorization from Seller) and the Contract shall be terminated and the parties released from any further right or obligation hereunder (with the sole exception of Purchaser’s
indemnification in Article 5); provided, however, that until Purchaser so terminates, Purchaser shall proceed in good faith to carry out Purchaser’s preliminary investigatory steps with respect to this transaction. 

5.6 Form 527. If Purchaser does not terminate this Contract by written notice prior to the expiration of the Due Diligence Period,
then Purchaser shall submit to Seller prior to expiration of the Due Diligence Period, the completed GSA Form 527, “Contractor’s Qualifications and Financial Information”, a copy of which is attached hereto as Schedule H, to
Seller for inclusion in Seller’s submission of its request for the GSA Consents. 
 5.7 Assumed Property Contracts.
Prior to expiration of the Due Diligence Period, Purchaser shall give Seller written notice as to which of the Property Contracts, if any, that Purchaser will assume at Closing (the “Assumed Property Contracts”). At Closing,
Purchaser shall assume only the Assumed Property Contracts. 
 6. Title. 

6.1 Title Commitment. Seller shall obtain an updated title commitment from the Title Company for the Property (the “Title
Commitment”) and shall have a copy of such Title Commitment (together with copies of the exception documents shown in the Title Commitment) delivered to Purchaser within ten (10) days after the Effective Date. If Purchaser provides
written notice objecting to any matter disclosed by the Title Commitment or on a survey ten (10) days prior to the expiration of the Due Diligence Period, and Seller refuses to have such objections removed, insured over or otherwise resolved,
Purchaser shall have the right to terminate this Contract pursuant to Section 5.5 above prior to the expiration of the Due Diligence Period, or to accept the title defect as a Permitted Exception. Seller’s failure to respond within

  

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five (5) days after receipt of Purchaser’s written notice shall be deemed to be Seller’s election not to cure any such Purchaser objections; provided however, that subject to the
Seller’s Closing Conditions, Seller shall cause to be removed at or prior to Closing, any valid liens or encumbrances, including, but not limited to, mechanics’ liens and mortgages which can be removed by the payment of money, except those
liens and encumbrances which Purchaser has expressly agreed to assume or take subject to pursuant to the terms of this Contract. 

6.2 Status of Title. At the time of the Closing, title to the Property shall be subject to (a) the title exceptions set forth
in the Title Commitment (unless, pursuant to Section 6.1, Seller has agreed in writing to remove, insure over or resolve such matter), (b) title exceptions created or suffered by Purchaser, or by the GSA Tenant as permitted under the GSA
Lease, (c) any items or exceptions to title disclosed by the Survey (unless, pursuant to Section 6.1, Seller has agreed in writing to remove, insure over or resolve such matter), and (d) such other title exceptions which Seller may,
in accordance with the provisions of this Contract, cause the Title Company to omit from Purchaser’s title policy or affirmatively insure (the title exceptions described in (a), (b), (c) and (d) herein sometimes referred to
collectively as “Permitted Exceptions”). Purchaser shall notify Seller within five (5) business days of becoming aware of any other defects, encumbrances, encroachments or other objections to title that are not Permitted
Exceptions. Any defects, encumbrances, encroachments or other objections to title that are not Permitted Exceptions that are not timely objected to in accordance with this Article 6 shall be deemed Permitted Exceptions. 

6.3 Non-Permitted Title Objections. If on the Closing Date it should appear that the Property is adversely affected by any
encumbrance, lien defect, encroachment or objection which is not a Permitted Exception (collectively, “Non-Permitted Title Objections”), then in such event, Seller, at Seller’s election, shall have the privilege to remove or
satisfy the same, and shall, for that purpose, be entitled to one or more adjournments of the Closing for a period not to exceed thirty (30) days beyond the date scheduled for Closing. Seller shall not be required to bring any action or
proceeding or to otherwise incur any expense to remove or discharge any Non-Permitted Title Objection (except for the obligation to remove certain liens and encumbrances pursuant to Section 6.1 hereof). If there shall be any Non-Permitted Title
Objections and Seller notifies Purchaser that Seller elects not to, or cannot, remove or discharge such Non-Permitted Title Objections, Purchaser, at Purchaser’s sole discretion, may elect to terminate this Contract by notice given within five
(5) Business Days after receipt of Seller’s notice, in which case Purchaser shall elect either to receive a return of the Deposit or to accept the Non-Permitted Title Objections and proceed to Closing. If Purchaser fails to timely cancel
this Contract as provided in the preceding sentence, Purchaser shall accept such title as can be conveyed through the Deed. Anything in this Section to the contrary notwithstanding, an attempt by Seller to remove or discharge any Non-Permitted Title
Objection shall not be deemed to be or create an obligation of Seller to remove or discharge the same. 

6.4 Property Debt. As of the Effective Date, the Property is subject to that certain mortgage held by
1st United Bank. Subject to Seller’s Closing
Conditions, such mortgage shall be paid and released (as such obligations may be reduced by any applicable Creditor Agreement) from the proceeds of the Purchase Price on the Closing Date. 

 

 9 

 6.5 Sale “As Is”. THE TRANSACTION CONTEMPLATED BY THIS CONTRACT HAS BEEN
NEGOTIATED BETWEEN SELLER AND PURCHASER. THIS CONTRACT REFLECTS THE MUTUAL AGREEMENT OF SELLER AND PURCHASER, AND PURCHASER HAS THE RIGHT TO CONDUCT ITS OWN INDEPENDENT EXAMINATION OF THE PROPERTY. EXCEPT AS EXPRESSLY SET FORTH IN THIS CONTRACT OR
IN THE CLOSING DOCUMENTS, PURCHASER HAS NOT RELIED UPON AND WILL NOT RELY UPON, EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION, WARRANTY, COVENANT OR AGREEMENT OF SELLER OR ANY OF SELLER’S AGENTS OR REPRESENTATIVES, AND PURCHASER HEREBY
ACKNOWLEDGES THAT, EXCEPT AS EXPRESSLY SET FORTH IN THIS CONTRACT OR IN THE CLOSING DOCUMENTS, NO SUCH REPRESENTATIONS HAVE BEEN MADE. PURCHASER ACKNOWLEDGES AND AGREES THAT UPON CLOSING SELLER SHALL SELL AND CONVEY TO PURCHASER AND PURCHASER SHALL
ACCEPT THE PROPERTY “AS IS, WHERE IS, WITH ALL FAULTS”, EXCEPT TO THE EXTENT EXPRESSLY PROVIDED OTHERWISE IN THIS AGREEMENT OR IN ANY OTHER DOCUMENT EXECUTED BY SELLER AND DELIVERED TO PURCHASER AT CLOSING. PURCHASER HAS NOT RELIED
AND WILL NOT RELY ON, AND SELLER IS NOT LIABLE FOR OR BOUND BY, ANY EXPRESS OR IMPLIED WARRANTIES, GUARANTIES, STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE PROPERTY OR RELATING THERETO. PURCHASER ALSO ACKNOWLEDGES THAT THE PURCHASE
PRICE REFLECTS AND TAKES INTO ACCOUNT THAT THE PROPERTY IS BEING SOLD “AS-IS.” WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, AND NOTWITHSTANDING ANYTHING CONTAINED IN THIS CONTRACT WHICH MAY BE TO THE CONTRARY, SELLER SHALL HAVE NO
OBLIGATION TO CURE ANY TITLE DEFECTS OR OBJECTIONS OR ANY OTHER MATTERS PERTAINING TO THE PREMISES OR THE PROPERTY. 
 7. Release of
Seller. 
 7.1 Except for the representations made by Seller in Section 8.1 and covenants and/or duties that Seller or
its representatives undertake in accordance with this Contract (a violation of which shall not be covered by the release in this Section 7.1), Purchaser hereby waives, releases and forever discharges Seller and all of Seller’s affiliates,
subsidiaries, officers, directors, shareholders, employees, independent contractors, partners, members, representatives, agents, and attorneys, and the respective successors and assigns of all such parties (collectively the “Released
Parties”), and each of them, from any and all causes of action, claims, assessments, losses, damages (compensatory, punitive or other), liabilities, obligations, reimbursements, costs and expenses of any kind or nature, actual or
contingent, present, future, known or unknown, suspected or unsuspected, including, without limitation, interest, penalties, fines, and attorneys’ and experts’ fees and expenses (collectively, “Claims &
Liabilities”), whether caused by, arising from, or premised, in whole or in part, upon Seller’s acts or omissions, and notwithstanding that such acts or omissions are negligent or intentional, or premised in whole or in part on any
theory of strict or absolute liability, which Purchaser, its successors or assigns or any subsequent purchaser of the Premises may have or incur in any manner or way connected with, arising from, or related to, the Premises, including, without
limitation: (i) the environmental condition of the Premises, (ii) actual or alleged violations of environmental laws or regulations in connection with the Premises and/or any property conditions; (iii) latent or patent defects in the

  

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Improvements; (iv) all matters pertaining to land use, zoning, permits, licenses, building codes, and similar matters; and (v) all matters pertaining to the GSA Lease. Purchaser agrees,
represents and warrants that the matters released herein are not limited to matters which are known, disclosed, suspected or foreseeable, and Purchaser hereby waives any and all rights and benefits which it now has, or in the future may have,
conferred upon Purchaser by virtue of the provisions of any law which would limit or detract from the foregoing general release of known and unknown claims. 

8. Representations. 

8.1 Seller’s Representations. Seller represents to Purchaser as of the Effective Date and as of the Closing Date (unless
otherwise provided below): 
 (a) Organization Pre-Closing; Authority. Seller is a limited liability
company organized under the laws of the State of Florida. Seller has the right, power and authority to make and perform its obligations under this Contract. 

(b) Execution; Valid and Binding Obligation. The execution, delivery and performance of this Contract in accordance
with its terms, does not violate the limited liability company agreement of Seller, or any contract, agreement, commitment, order, judgment or decree to which Seller is a party or by which it is bound (subject to the GSA Consent). This Contract is a
valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights and by
general principles of equity (whether applied in a proceeding at law or in equity). 
 (c) Leases. A true,
correct and complete copy of the GSA Lease has been delivered to Purchaser, and constitutes the only lease, license or other written agreement for the use or occupancy of the Property to which Seller is a party and which will be binding on Purchaser
following the Closing Date, except as may otherwise be set forth in the Permitted Exceptions. The GSA Lease is in full force and effect, and there are no pending modifications or amendments to the GSA Lease. Seller has not received or delivered a
written notice declaring a default under the GSA Lease. None of Seller’s interest in the GSA Lease or of Seller’s right to receive the rentals payable by the GSA Tenant thereunder has been assigned, conveyed, pledged or in any manner
encumbered by Seller, other than as collateral for the First United Construction Loan. Neither the GSA Tenant nor, to Seller’s knowledge, any other person has any purchase option, termination option, right of first refusal, right of first offer
or similar right to purchase the Property or any portion thereof. 
 (d) Property Contracts. Set forth on
Schedule I is a true, correct and complete list of the management agreement and other agreements relating to the operation, maintenance and management of the Premises (the “Property Contracts”), to which Seller is a party and
which may be binding on the Premises after the Closing. Seller does not guarantee or undertake that any of the Property Contracts will be in effect as of the Closing. Seller has not received any written notice of a default under the Property
Contracts, except for any defaults that have been cured or waived. There are no Property Contracts that are not either terminable at will or on thirty (30) days’ (or fewer) notice (or sixty (60) days’ notice in the case of the
management agreement). Seller shall not modify the Property Contracts or enter into any new agreements or contracts unless same are terminable on thirty (30) days’ (or fewer) notice without penalty. 

 

 11 

 (e) Financial Statements. To Seller’s knowledge: (i) the
financial statements of Property operations to be provided by Seller to Purchaser or its accountants pursuant to the terms of this Agreement, will present fairly, in all material respects, the information contained therein for the periods indicated
therein; and (ii) all material expenses associated with Property operations have been recorded in Seller’s general ledger provided or to be provided by Seller to Purchaser or its accountants pursuant to the terms of this Agreement.

 (f) Employee Obligations. Seller has not hired, retained or employed any employees or contractors in
connection with the ownership, operation or management of the Property, whose contracts will be binding upon Purchaser after the Closing (other than the Property Contracts). 

(g) Condemnation. To Seller’s knowledge, as of the Effective Date, Seller has not received any written notice
that there are any pending or threatened condemnation, eminent domain or similar proceedings pertaining to the Property or any portion thereof or the improvements thereon. 

(h) Litigation. Except as set forth on Schedule J attached hereto or for matters fully covered (excluding
deductibles) by one or more insurance policies, to Seller’s knowledge, as of the Effective Date, there is no action, suit or other proceeding pending against Seller pertaining to the Property which, if determined adversely to Seller, would have
a material adverse effect on the Property or Seller’s ability to perform its obligations under this Contract. 

(i) Violations of Law. To Seller’s knowledge, as of the Effective Date, Seller has not received written notice
from any governmental authority: (i) that the Property or its present operation and use violate or conflict with any federal, state, county or other municipal laws, ordinances, orders, regulations and requirements, which violation has not been
cured; or (ii) that such governmental authority intends to revoke any certificate of occupancy issued in connection with the Property or any material license or permit which is necessary for the operation of the Property. 

(j) Non-Compliance. To Seller’s knowledge, as of the Effective Date, Seller has not received any written
notice that Seller or the Property is not in compliance with the terms and provisions of the covenants, conditions, restrictions, rights-of-way, or easements affecting the Property. 

(k) Certificates, Licenses, Permits and Authorizations. To Seller’s knowledge, Seller has obtained all
certificates, licenses, permits and authorizations required to operate the Property in accordance with the GSA Lease. 

(l) Consents. Other than the GSA Consent, no consents are required to be obtained in connection with the execution,
delivery and performance of this Contract by Seller. 
  

 12 

 (m) Rights of First Refusal and Purchase Options. Seller has not
granted to any other person or entity any right of first refusal or purchase option with respect to the Property or any interest therein. 

(n) Environmental. To Seller’s knowledge, as of the Effective Date, Seller has not received any written
notice, report or information regarding any violations of, or any corrective, investigatory or remedial obligations, arising under applicable environmental laws with respect to the Property. 

(o) Foreign Person. Seller is not a “foreign person” as that term is defined in Section 1445 of the
Internal Revenue Code of 1986, as amended and the regulations promulgated pursuant thereto. 
 (p) OFAC.
Seller is not acting, directly or indirectly for, or on behalf of, any person, group, entity or nation named by any 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 the United States Treasury Department as a terrorist, “Specially Designated National and Blocked Person,” or other banned or blocked person, entity, or nation pursuant to any law
that is enforced or administered by the Office of Foreign Assets Control, and is not engaging in this transaction, directly or indirectly, on behalf of, or instigating or facilitating this transaction, directly or indirectly, on behalf of, any such
person, group, entity or nation. 
 8.2 Knowledge. The representations of Seller set forth in Section 8.1 that are
to “Seller’s knowledge” or that are “known to Seller” are made to the actual knowledge of Mark Levin and Thomas Litten (each, a “Key Person”), without such individual having any duty or obligation to make an
independent inquiry or investigation. Any reference to Seller’s “receipt” or language similar thereto of notices or other written documents shall mean the actual receipt of the same by a Key Person. In no event shall Purchaser be
entitled to assert any cause of action against any Key Person, nor shall any Key Person have any personal liability whatsoever for any matter under or related to this Contract. 

8.3 Survival. At the Closing, Seller shall restate the representations made in Section 8.1 above. The representations made in
Section 8.1, and any restatement of such representations shall survive the Closing, but only for a period of ninety (90) days after the Closing (the “Survival Period”), except that the financial representations in
subsection 8.1(e) shall not survive Closing. 
 8.4 Notice of Material Adverse Change. Seller shall promptly notify
Purchaser of any event or circumstance known to Seller which makes any representation or warranty of Seller under this Contract untrue in any material and adverse respect. 

8.5 Liability for Misrepresentations. If any representation of Seller shall fail to be true in any material and adverse respect,
Seller will attempt in good faith to remedy the misrepresentation (without any obligation to incur any costs or expenses). If despite Seller’s good faith efforts, the representation remains untrue as of Closing, Purchaser’s sole remedy
prior to Closing shall be to waive the untrue representation and proceed to Closing, or to terminate this 
  

 13 

 
Contract and receive the return of the Deposit. Upon Purchaser’s receipt of the Deposit, this Contract shall terminate and be of no further force or effect and, except for those provisions
expressly stated to survive the termination of this Contract, neither party shall have any rights or obligations against or to the other. Seller shall have the option to rescind Purchaser’s termination of this Contract and adjourn the Closing
for a period not to exceed thirty (30) days beyond the date scheduled for the Closing in order to make any such representation true in all material respects. If the Closing shall take place without Purchaser making an objection to an untrue
representation, which is Known to Purchaser, Purchaser shall be deemed to have waived all liability of Seller by reason of such untrue representation. If Closing takes place and a representation set forth in Section 8.1 above that is untrue on
the Closing Date first becomes Known to Purchaser after Closing, Purchaser may bring an action against Seller for any actual damages (but not consequential, punitive, or special damages) sustained by Purchaser, including reasonable attorneys fees,
as a consequence of such untrue representation, provided that (i) such action is brought prior to the expiration of the Survival Period; and (ii) in no event shall Seller be liable for damages in excess of $25,000. 

8.6 Purchaser’s Representations. Purchaser represents that: 

(a) Purchaser is, and at the Closing shall be, a limited liability company. Purchaser has the right, power and authority
to make and perform its obligations under this Contract, and Purchaser is not required to obtain governmental approval, consent or filing (other than the GSA Consents and related filings). 

(b) The execution, delivery and performance of this Contract in accordance with its terms, is duly authorized and does not
violate the organizational documents of Purchaser, or any contract, agreement, commitment, order, judgment or decree to which Purchaser is a party or by which it is bound. 

(c) This Contract is a valid and binding obligation of Purchaser enforceable against Purchaser in accordance with its
terms. 
 (d) Purchaser is not acting, directly or indirectly for, or on behalf of, any, person, group, entity or
nation named by any 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 the United States Treasury Department as
a terrorist, “Specially Designated National and Blocked Person,” or other banned or blocked person, entity, or nation pursuant to any law that is enforced or administered by the Office of Foreign Assets Control, and is not engaging in this
transaction, directly or indirectly, on behalf of, or instigating or facilitating this transaction, directly or indirectly, on behalf of, any such person, group, entity or nation. 

(e) Purchaser covenants and warrants that the representations in the preceding sentences of this Section 8.6 will be
true on the Closing with respect to Purchaser or any permitted assignee of Purchaser and Purchaser or such assignee shall deliver to Seller at Closing copies of Purchaser’s organizational documents and resolutions and/or consents and
certificates as necessary to substantiate that such representations of Purchaser are true as of the Closing. 
  

 14 

 9. Seller’s Covenants. 

9.1 Leasing Practice. 

(a) Provided that Purchaser is not in default under this Contract, Seller shall not, without Purchaser’s prior
approval, which shall be at Purchaser’s sole discretion, enter into any modifications, renewals or extensions of the GSA Lease other than those required pursuant to the terms of the GSA Lease (collectively, “GSA Lease
Modifications”). Purchaser agrees to grant or deny consent in writing (and provide, in reasonable detail, the reasons for any denial) within five (5) Business Days after Purchaser’s receipt of Seller’s request, which request
shall contain copies of all material information related to such request and a summary of the material terms of the proposed GSA Lease Modification and such other information as reasonably requested by Purchaser. Purchaser’s failure to timely
respond in writing to Seller’s request shall be deemed a consent to the proposed GSA Lease Modification. Seller shall, from time to time, inform (orally or in writing) Purchaser of any negotiations and promptly give notice to Purchaser of any
GSA Lease Modification and a copy of any instruments executed and any material information delivered in connection with the GSA Lease Modification. The term “GSA Lease” shall include any GSA Lease Modifications made after the
Effective Date which are permitted under this Section 9.1. 
 (b) Seller may continue to grant consent or
approval to a request made by a GSA Tenant under the GSA Lease, if such consent or approval is required to be granted pursuant to the applicable provisions of the GSA Lease and only with the approval of Purchaser if Seller is required to exercise
reasonable or sole judgment or discretion in determining whether to grant such consent or approval. Purchaser agrees to advise Seller in writing, within five (5) Business Days after Purchaser’s receipt of Seller’s notice, whether
Purchaser elects that the GSA Tenant’s request be granted or denied (and provide the reasons for any denial), which election shall be made in Purchaser’s reasonable judgment or sole discretion, as applicable. Purchaser’s failure to
timely respond in writing to Seller’s notice shall be deemed an election to consent to the proposed request. 

(c) Purchaser acknowledges and agrees that no representation has been made and no responsibility has been assumed by
Seller with respect to the continued occupancy of the Premises, or any part thereof, by the GSA Tenant following Closing. Prior to the Closing, Seller shall have the right, but not the obligation, to enforce its rights against the GSA Tenant by
summary proceeding or in any other manner. 
 (d) Prior to Closing or any sooner termination of this Agreement in
accordance with its terms, Seller shall not sell, mortgage, pledge, encumber, hypothecate, or otherwise transfer all of any part of the Property or any interest therein. 

(e) Prior to Closing or any sooner termination of this Agreement in accordance with its terms, Seller shall provide
Purchaser with monthly operating statements for the Property for July, 2010 and subsequent months, within twenty (20) days after the end of each month. 
  

 15 

 (f) Prior to Closing or any sooner termination of this Agreement in
accordance with its terms, Seller shall, at no expense or liability to Seller, reasonably cooperate with Purchaser’s auditor in connection with delivery of any audit opinions or comfort letters related to audited financial statements prepared
by Purchaser’s auditor. In connection therewith, Seller shall, subject to the provisions of Sections 5.2 and 15.6 of this Agreement, provide Purchaser’s auditor with access to the Property and information reasonably requested by the
auditor, to the extent such information in Seller’s possession or control (all without representation or warranty of any kind, except as expressly provided in Section 8.1). Seller hereby consents to the dissemination of any such audited
financial statements, opinions, or letters as may be required by Purchaser’s auditor for inclusion in any registration statements, prospectuses, or similar documents in connection with syndications, private placements or public offerings of
securities by Purchaser, or any of Purchaser’s affiliates or assigns and any reporting requirements for the same under applicable federal and state securities laws. All costs and expenses associated with any reports, opinions, or letters
required by this section shall be borne by Purchaser. 
 (g) Prior to Closing or any sooner termination of this
Agreement in accordance with its terms, Seller shall not knowingly and intentionally take any affirmative action that would cause any violation of any law, or governmental rule or regulation applicable to the Property. 

9.2 Personal Property and Equipment. After the expiration of the Due Diligence Period, Seller agrees not to transfer to any third
party or remove any Personal Property or Equipment owned by Seller and material to the operation or maintenance of the Premises and located in the Premises, unless such Personal Property or equipment is obsolete or replaced with a substantially
similar item. 
 9.3 Tax Protest Proceedings. Seller shall have the authority to prosecute, settle and withdraw
proceedings to review any real estate tax assessment for the Premises covering the calendar years prior to and in which the Closing occurs at Seller’s expense. Purchaser acknowledges that it has no interest in any proceedings or refunds
applicable to any calendar tax year prior to the year in which the Closing occurs. The provisions of this Section 9.3 shall survive the Closing. If Purchaser desires to commence or prosecute any real estate tax assessment proceedings, Seller
will cooperate with Purchaser in doing so, at Purchaser’s expense. 
 9.4 Operation and Maintenance. From and after
the Effective Date until the Closing Date, Seller shall operate and maintain the Premises consistent with the terms of the GSA Lease, excepting normal wear and tear and loss or Casualty. Seller shall not have any obligation whatsoever to make any
capital expenditures unless required pursuant to the GSA Lease. Without limiting the generality of the foregoing, Seller shall (i) maintain in effect substantially the same insurance with respect to the Premises as it currently maintains,
(ii) use reasonable efforts to collect all rent due before Closing in accordance with the Seller’s current customary practices, (iii) timely perform its obligations under the GSA Lease in accordance with its customary practice, and
(iv) perform all repairs and maintenance of the Premises and pay all bills related to the Premises in accordance with its current customary practices. 
  

 16 

 9.5 Lease Status Report and GSA Consents. 

(a) Prior to Closing, Seller shall obtain a lease status report (also know as a statement of lease), for the GSA Lease
(the “Lease Status Report”) from the GSA Tenant, which Lease Status Report shall be in the form provided by the GSA Tenant and addressed to Purchaser and, at Purchaser’s request, Purchaser’s lender. Notwithstanding the
foregoing to the contrary, if the required Lease Status Report cannot be timely delivered, Seller or Purchaser may, but shall not be obligated to, adjourn the Closing for a period not to exceed thirty (30) days, to obtain the required Lease
Status Report. If Seller, after exercising or waiving in writing its adjournment right set forth in this subsection, does not or cannot deliver the required Lease Status Report, or the Lease Status Report indicates that Seller is in default under
the GSA Lease or that the GSA Lease is subject to any claims or offset or is not in full force and effect, Purchaser shall have the right to terminate this Contract and receive the return of the Deposit, or to close notwithstanding the lack of the
Lease Status Report, without any reduction of the Purchase Price. Notwithstanding anything contained herein to the contrary, Purchaser shall notify Seller upon the date that is not later than five (5) Business Days following Purchaser’s
receipt of the Lease Status Report, of Purchaser’s objections to the Lease Status Report and its election to terminate this Contract. Purchaser’s failure to timely respond to Seller in accordance with the preceding sentence shall be deemed
its approval of the Lease Status Report. 
 (b) Seller shall obtain the GSA Consent from the GSA Tenant on or
before the Closing Date; provided, however, if the required GSA Consent cannot be timely delivered, Seller may, but shall not be obligated to, adjourn the Closing for a period not to exceed thirty (30) days, to obtain the required GSA Consent.
If Seller, after exercising or waiving in writing its adjournment right set forth in this subsection, does not or cannot deliver the required GSA Consent, Purchaser shall have the right to terminate this Contract and receive the return of the
Deposit, or to close notwithstanding the lack of the GSA Consent, without any reduction of the Purchase Price. Notwithstanding the foregoing, either party may elect to waive the requirement that the GSA Consent be obtained prior to Closing, in which
case (i) Seller may require reasonable assurances that the only condition to delivery of the GSA Consent after the Closing Date is proof of the transfer and conveyance of the Property pursuant to the Deed, and (ii) Purchaser shall
indemnify, defend and hold Seller from and against any and all claims, damages, liabilities, losses and damages, including reasonable attorneys’ fees and costs, incurred by Seller on account of any failure to obtain the GSA Consent, including
any claims for breach or default of the GSA Lease by virtue of the failure to obtain the GSA Consent. The foregoing indemnification shall survive Closing. 

10. Closing. 
 10.1
Closing Deliveries. 
 (a) At the Closing, Seller shall deliver into escrow with the Escrow Agent:

 (i) The Deed; 

(ii) Two (2) original executed counterparts of the Bill of Sale and Assignment 

 

 17 

 (iii) Two (2) original executed counterparts of a Bill of Sale,
pursuant to which Seller transfers any Personal Property and Equipment to Purchaser; 
 (iv) Three
(3) original counterparts of the executed Settlement Statement; 
 (v) Original executed Lease Status
Report; 
 (vi) Original executed GSA Consent; 

(vii) A certification of Seller’s representations, stating that all the representations in Section 8.1 remain
true and correct as of the Closing Date, executed by Seller; 
 (viii) An affidavit in a form acceptable to
Purchaser and as prescribed in the Foreign Investment in Real Property Transfer Act of the Internal Revenue Code and the regulations promulgated thereon which certifies that Seller is not a “foreign person” as defined therein; 

(ix) Any and all other documents reasonably required of Seller to consummate the transaction contemplated hereby.

 (x) Original, or if original is not available, copy of the applicable GSA Lease; 

(xi) Originals, or if originals are not available, copies of the Assumed Property Contracts (which Assumed Property
Contracts may be delivered by leaving them at the Property); 
 (xii) To the extent they are in Seller’s
possession (a) unless posted at the Property, all licenses and permits, authorizations and approvals pertaining to the Premises and (b) all guarantees and warranties which Seller has received in connection with any work or services
performed or equipment installed in and improvements erected on the Premises; 
 (xiii) Releases in recordable
form from any creditor who has filed a lawsuit and lis pendens against the Property; 
 (xiv) To the extent they
are in Seller’s possession, originals or, if originals are not available, copies, of all Plans and Specifications, technical manuals and similar materials for the Property (which materials may be delivered by leaving them at the Property).

 (xv) Original executed Rent Direction Notice from Seller to the depository institution in which Seller
regularly deposits rents from the Property. 
  

 18 

 (xvi) Evidence of Seller’s termination of all Property Contracts,
effective as of Closing, of all Property Contracts other than the Assumed Property Contracts. 
 (b) At the
Closing, Purchaser shall deliver into escrow with the Escrow Agent: 
 (i) An amount equal to the Purchase Price
less the Deposit and any other amounts due from Purchaser as indicated on the Settlement Statement; 
 (ii) Three
(3) original counterparts of the executed Settlement Statement; 
 (iii) Two (2) original executed
counterparts of the Bill of Sale and Assignment; and 
 (iv) Any and all other documents reasonably required of
Purchaser to consummate the transaction contemplated hereby. 
 10.2 Conditions Precedent to Obligation of Purchaser.

 (a) Notwithstanding anything to the contrary in this Contract, on the Closing Date, Purchaser’s
obligations under this Contract are expressly contingent on the following being true and correct: 
 (i) Seller
shall have delivered to Escrow Agent all of the items required to be delivered to Escrow Agent pursuant to Section 10.1 or otherwise required by the terms of this Contract; 

(ii) Seller shall have performed, in all material respects, all covenants and agreements of the Contract to be performed
by Seller as of that Closing Date; 
 (iii) The Title Company shall be prepared to issue to the Purchaser title
policies subject only to the Permitted Exceptions; 
 (iv) All of Seller’s representations shall be true and
correct in all material respects; 
 (v) There has been no material adverse change to the Property from the
expiration of the Due Diligence Period to the Closing Date. Material adverse change shall mean: (i) a change that prohibits the existing use or operation of the Property; or (ii) the termination of the GSA Lease; 

(vi) The GSA Lease shall be free from any material default on the part of Seller or the GSA Tenant; and 

 

 19 

 (vii) Seller shall have obtained and delivered to Purchaser an estoppel
certificate from each party entitled to enforce any restrictive covenant or easement encumbering the Property, which estoppel certificate shall be in such form as may be reasonably required by the party providing same; 

(viii) There shall not have been filed, by or against Seller a petition in bankruptcy or a petition or answer seeking an
assignment for the benefit of creditors, the appointment of a receiver, trustee, liquidation or dissolution or similar relief under the U.S. Bankruptcy code or any other Law, which has not been dismissed by the earlier of (i) Closing or
(ii) sixty (60) days following the date filed; and 
 (ix) No order of any court or administrative
agency shall be in effect against Seller which restrains or prohibits the transaction contemplated hereby, and no suit, action, inquiry investigation or proceeding in which it is likely to be, or it is, sought to (x) restrain, prohibit or
change the terms of the transaction contemplated hereby, or (y) obtain material damages or other relief from Seller or Purchaser in connection with this Contract or the transaction contemplated hereby (other than a suit among one (1) or
more of the parties hereto on the basis of this Contract) shall have been instituted, which if adversely determined would have a material adverse effect upon Seller or the Property. 

(b) If for any reason Seller is unable to satisfy all of the conditions of Closing by the Closing Date, Purchaser shall
have the right to delay closing for up to thirty (30) days to give Seller an opportunity to satisfy such conditions or to waive the closing condition and close. If Seller cannot satisfy such conditions within this additional period,
notwithstanding anything else in this Contract, Purchaser may waive the closing condition and close, without a reduction in the Purchase Price, or terminate this Contract, in which case the Deposit shall be returned to Purchaser and the parties
shall be released from all further obligations and liabilities hereunder, other than those which expressly survive termination of this Contract. 

10.3 Conditions Precedent to Obligation of Seller. 

(a) Notwithstanding anything to the contrary in this Contract, on the Closing Date, Seller’s obligations under this
Contract are expressly contingent on the following being true and correct (“Seller’s Closing Conditions”): 

(i) Purchaser shall have delivered to Escrow Agent all of the items required to be delivered to Escrow Agent pursuant to
Section 10.1 or otherwise required by the terms of this Contract; 
 (ii) Purchaser shall have performed, in
all material respects, all covenants and agreements of the Contract to be performed by Purchaser as of that Closing, including payment of the Purchase Price; and 

(iii) Escrow Agent shall be prepared to release the First United Release to Seller immediately after the Closing.

 (b) If Seller’s Closing Conditions are not satisfied, Seller shall have the right to terminate this
Contract, in which case the Deposit shall be returned to Purchaser and the parties shall be released from all further obligations and liabilities hereunder, other than those which expressly survive termination of this Contract. 

 

 20 

 (c) It is a further condition of Seller’s obligation to close that the
Purchase Price being paid by Purchaser to Seller at Closing is sufficient to pay in full the Seller’s Obligations and to obtain the First United Release and any other release described in the Creditor Agreements. If the amount required to pay
the Seller’s Obligations exceeds the Purchase Price, Seller may terminate the Contract by written notice to Purchaser and Escrow Agent, in which case the Deposit shall be returned to Purchaser and the parties shall be released from all further
obligations and liabilities hereunder, other than those which expressly survive termination of this Contract. 
 10.4 Closing
and Location. 
 (a) Subject to the adjournments expressly allowed elsewhere in this Contract, the closing of
the transaction contemplated by this Contract shall take place on or before September 7, 2010, unless Seller and Purchaser mutually agree to an earlier or later date or such Closing Date is extended pursuant to the terms hereof. Notwithstanding
the foregoing, provided that Purchaser is not then in default hereunder, Purchaser may extend the Closing Date one time to September 30, 2010 by giving Seller and Escrow Agent written notice of Purchaser’s election to so extend the Closing
Date, and wire transferring to Escrow Agent the additional sum of One Hundred Thousand and No/100 Dollars ($100,000), all on or before September 1, 2010 at 5 p.m. Eastern time. Such additional $100,000, when deposited, shall be deemed to be
part of the Deposit. 
 (b) Upon satisfaction or completion of all closing conditions and deliveries, the parties
shall direct Escrow Agent to deliver the Closing Deliveries to the appropriate parties and make disbursements according to the Settlement Statement for the Closing. The Closing shall occur by submitting documents to escrow with the Escrow Agent as
escrow holder and pursuant to escrow instructions from each party hereto which shall be consistent with the terms of this Contract (unless such party, or an authorized representative thereof is attending in person, in which case escrow instructions
would not be necessary). 
 10.5 Closing Expenses. 

(a) Seller’s Expenses. Seller shall pay: (i) one-half of any escrow or closing charge of the Escrow
Agent; and (ii) the documentary stamp taxes on the Deed. 
 (b) Purchaser’s Expenses. Purchaser
shall pay (i) one-half of any escrow or closing charge of the Escrow Agent; (ii) the cost of the Title Commitment and the premium for the owner’s title policy benefiting Purchaser, including any title endorsements requested by
Purchaser or its lender, if any (other than the premium related to any endorsements which Seller elects to obtain at its expense in order to cure any Non-Permitted Title Exception); (iii) all expenses relating to its inspection of the Premises,
including engineering, environmental and property surveys (ordered by Purchaser) whether or not the Closing occurs; and (iv) any cost incurred in connection with any financing obtained by Purchaser, including documentary stamp tax, intangible
tax and title insurance premiums. 
  

 21 

 (c) The provisions of this Section 10.5 shall survive the Closing or
earlier termination of this Contract. 
 10.6 Prorations and Credits at Closing. 

(a) Prorations. All items which would normally and customarily be prorated in a real estate sale, including real
estate taxes, personal property or use taxes, and sales taxes, installments of general and special assessments due and payable in the year of Closing, utility bills, annual installments of any assessment, amounts due or revenues under the Assumed
Property Contracts and any prepaid amounts related to the foregoing, shall be prorated as of 11:59 p.m. on the day before the Closing Date, with Seller being charged and credited for all of same prior to the Closing Date, and Purchaser being charged
and credited for all of same on and after the Closing Date. Rent and other amounts due by the GSA Tenant under the GSA Lease will be prorated as of the Closing Date and will be paid to the party entitled to receive such payment promptly upon being
collected. Taxes will be prorated using the maximum discount allowed by law. If the actual amounts of certain agreed upon items to be prorated are not known as of the Closing Date, the prorations shall be made on the basis of the best evidence then
available; provided that, within one hundred twenty (120) days after Closing, Purchaser and Seller will make a further adjustment for all such amounts which may have accrued or been incurred prior to the Closing Date (including, but not limited
to, real estate taxes), but not received or paid at that date. In the event that any item of income or expense is prorated at Closing in error or on the basis of an estimate, or if it is determined that the parties failed to prorate an item at
Closing which should have been prorated, Purchaser and Seller agree to make a further adjustment of such item(s) at a final reconciliation to be performed within one (1) year after the Closing Date. To the extent that either party is required
to pay to the other any sum based on the foregoing post-Closing adjustments of prorated items, Purchaser and Seller each agree to make such payments within fifteen (15) days after the post-Closing adjustments have been calculated and agreed to.
This provision shall survive Closing. 
 (b) Delinquent GSA Rents. If, as of the Closing, the GSA Tenant
has failed to pay any amounts due and payable thereunder in any months prior to the month in which the Closing occurs identified by Seller in writing at Closing (the “Delinquent Rents”) shall remain Seller’s property. Purchaser
shall not be obligated to file suit to collect any Delinquent Rents. After Closing, Seller shall be entitled to commence and/or continue any collection efforts against the GSA Tenant, including, but not limited to, commencing and/or continuing
prosecuting a lawsuit, so long as such lawsuit is for money damages only and does not seek the remedy of eviction. 

(c) Preparation of Prorations. At least five (5) days before the Closing Date, Seller shall work with the
Escrow Agent to have Escrow Agent prepare and deliver to Purchaser an unaudited statement (the “Preliminary Settlement Statement”) showing allocations and prorations described in this Contract, calculated as of 11:59 p.m. on the day
preceding the Closing Date, on the basis of a three hundred sixty five (365) day year. Purchaser and its representatives shall be afforded reasonable access to Seller’s books and records with respect to the Premises to confirm the accuracy
of the Preliminary Settlement Statement. Purchaser and Seller shall agree upon any final adjustments to be made to the Preliminary Settlement Statement no later than two (2) Business Days prior to the Closing Date, and Escrow Agent shall
prepare and distribute the final settlement statement (the “Settlement Statement”) to the parties hereto no later than one (1) Business Day prior to the Closing Date. 

 

 22 

 11. Default. 

11.1 Purchaser’s Default. If Purchaser breaches its obligations under this Contract, Seller shall have the right to terminate
this Contract by written notice given to Purchaser, and the Purchaser shall forfeit all claims to the Property and the Deposit paid or payable in accordance with this Contract, which shall be construed as full liquidated damages to the Seller. The
parties agree that all monies paid and to be paid in accordance with this Contract shall be considered as liquidated damages by reason of the fact that: (a) the damage which is a result of the Purchaser’s failure to perform is an uncertain
amount or is difficult to prove; (b) the parties intended to liquidate damages; and (c) the amount of any such monies is a reasonable estimate of the amount of the damage which would be incurred by Seller. The actual tender of the closing
deliveries by Seller shall not be necessary, if the Purchaser has clearly indicated, prior to the Closing Date, that it will not or cannot perform the obligations set forth in this Contract. The retention by Seller of the Deposit paid or payable
hereunder as liquidated damages pursuant to this Section 11.1 shall constitute Seller’s sole and exclusive remedy in the event of a default by Purchaser. 

11.2 Seller’s Default. If, for any reason whatsoever other than upon Seller’s willful default, Seller shall be unable to
convey title to a Property to Purchaser subject to, and in accordance with, the terms of this Contract, Purchaser may elect to obtain a refund of the Deposit. Upon the making of such refund to Purchaser, this Contract shall be null and void and of
no further force or effect, except for those provisions expressly stated to survive the termination of this Contract and the lien, if any, of Purchaser against the Premises shall wholly cease. Seller’s “willful default” will include
any breach of an obligation that Seller has undertaken under this Contract which is in Seller’s reasonable control with respect to which (i) Seller has not undertaken reasonable and good faith efforts to comply or (ii) which a court
of competent jurisdiction shall determine is a “willful default”. Seller “reasonable and good faith efforts” shall not include litigation or the obligation to incur any cost or liability or spend any sums, except as may be
expressly required by other provisions of this Contract. Purchaser’s sole remedy for Seller’s willful default as to the Property shall be to elect to cancel this Contract as to that Property and receive from the Seller reimbursement of the
Deposit (plus actual out-of-pocket third party costs, including attorneys’ fees and costs, incurred by Purchaser after the Effective Date in connection with Purchaser’s inspections and other due diligence; provided, however, that
Seller’s liability for such costs shall not exceed $25,000 in the aggregate), or to commence an action for specific performance within sixty (60) days after the alleged default by Seller. Purchaser hereby waives all other rights and
remedies that it might have, including the right to sue for damages, except with respect to Seller’s willful default of this Contract. 

12. Risk of Loss. 
 12.1
Condemnation. 
 (a) A “Taking” shall mean, if, at any time prior to the Closing Date,
condemnation proceedings are instituted, or notice of intent to condemn is given, with respect to all or any portion of the Property shall be taken in the exercise of the power of condemnation or

  

 23 

 
eminent domain by any sovereign, municipality or other public or private authority. In the event of a Taking which give rises to a termination right of the GSA Tenant, Purchaser shall have the
option, to be exercised by notice to Seller not later than thirty (30) days after receipt of such notice from Seller, either to terminate this Contract and receive the return of the Deposit, in which case the parties shall have no further
rights or obligations under this Contract, except for any obligations that expressly survive termination, or to consummate the purchase of the Property without reduction of the Purchase Price, in which event the right to collect any condemnation
award or compensation for such condemnation shall be assigned by Seller to Purchaser at Closing. In case of a Taking which does not give rise to a termination right of the GSA Tenant, this Contract shall remain in full force and effect and on the
Closing Date either (A) Purchaser shall be entitled to any condemnation award to be granted and Seller shall assign all of its right, title and interest to such award to Purchaser, less such sums, if any, actually and reasonably expended by
Seller to prosecute such claim and restore the Premises, or (B) if such award shall have been paid to Seller, such award, as shall be reduced by the such sums, if any, actually and reasonably expended by Seller to prosecute such claim and
restore the Premises shall be paid to Purchaser. Seller agrees to deliver promptly after receipt thereof any and all written notices of a Taking received by Seller after the date hereof. 

12.2 Destruction or Damage. 

(a) If all or any part of the Premises is damaged by fire or other casualty (the “Casualty”) occurring on
or after the date hereof and prior to the Closing Date, whether or not such damage affects a material part of any portion of the Premises, then: 

(i) if the estimated cost of repair or restoration is less than or equal to One Million No/100 Dollars ($1,000,000.00)
and, if the estimated time to substantially complete such repair or restoration is six months (6) months or less (after receipt of insurance proceeds) and the GSA Tenant shall not be entitled to terminate the GSA Lease or reduce lease payments
by more than five percent (5%) as a result of such fire or other casualty, neither party shall have the right to terminate this Contract and the parties shall proceed to consummate this transaction in accordance with this Contract, without any
abatement of the Purchase Price or any liability or obligation on the part of Seller by reason of such destruction or damage. In such event, Seller shall assign to Purchaser, and Purchaser shall have the right to make a claim for and to retain any
casualty insurance proceeds received under, the casualty insurance policy in effect with respect to the Premises on account of such physical damage or destruction as shall be necessary to perform repairs to the Premises and/or to restore the
Premises to substantially the same condition as existed prior to the occurrence of such fire or other casualty, and Purchaser shall receive a credit against the cash due at Closing for the amount of the deductible on such casualty insurance policy
paid by Purchaser. 
 (ii) if (x) the estimated cost of repair or restoration exceeds One Million No/100
Dollars ($1,000,000.00), (y) the estimated time to substantially complete such repair or restoration exceeds six (6) months, or (z) the GSA Tenant shall be entitled to terminate the GSA Lease or reduce lease payments by more

  

 24 

 
than five percent (5%) as a result of such fire or other casualty, Purchaser shall have the option, exercisable within fifteen (15) business days after the later of (i) receipt of
notice of the occurrence of such fire or other casualty and (ii) receipt by Purchaser of the construction expert’s determination of the estimated cost to repair and/or restore and the estimated time such repair and/or restoration, to
terminate this Contract by delivering notice of such termination to Seller, whereupon the Deposit (together with any interest accrued thereon) shall be returned to Purchaser, and this Contract shall be deemed canceled and of no further force or
effect, and neither party shall have any further rights or liabilities against or to the other except for such rights or liabilities which are expressly provided in this Contract to survive the termination hereof. If a fire or other casualty
described in this Section 12.2(a)(ii) shall occur and Purchaser shall not timely elect to terminate this Contract, then Purchaser and Seller shall consummate this transaction in accordance with this Contract, without any abatement of the
Purchase Price or any liability or obligation on the part of Seller by reason of such destruction or damage and, in such event, Seller shall assign to Purchaser and Purchaser shall have the right to make a claim for and to retain any casualty
insurance proceeds received under the casualty insurance policy in effect with respect to the Premises on account of such physical damage or destruction as shall be necessary to perform repairs to the Premises and/or restore the Premises to
substantially the same condition as existed prior to the occurrence of such fire or other casualty and Purchaser shall receive a credit against the cash due at Closing for the amount of the deductible on such casualty insurance policy paid by
Purchaser. 
 (iii) In the event that Seller and Purchaser shall disagree as to the estimated cost to repair
and/or restore and the estimated time to complete contemplated in Section 12.2(a) above, then such dispute shall be determined by arbitration as provided in Article 14. The Closing Date may be extended up to a maximum extension of ninety
(90) days, as reasonably required to obtain such estimates from the construction expert to determine the availability and amount of insurance proceeds and give the notices required under this Section 12.2. Seller and Purchaser shall
cooperate and exercise due diligence to obtain such damage estimates from the construction expert and to adjust the insurance claim with, and collect insurance proceeds from, the applicable insurer(s). 

(b) The provisions of this Section 12.2 supersede any law applicable to the Premises governing the effect of fire or
other casualty in contracts for real property. 
 13. Escrow. 

13.1 Closing Escrow. Seller and Purchaser acknowledge that Escrow Agent undertakes hereunder to perform only such duties as are
expressly set forth herein. The Deposit and any other funds deposited with Escrow Agent will be held and disbursed as follows: 

(a) Escrow Agent may (i) act in reliance upon any writing or instrument or signature which it, in good faith,
believes to be genuine, (ii) assume the validity and accuracy of any statement or assertion contained in such a writing or instrument, and (iii) assume that any person purporting to give any writing in connection with the provisions hereof
has been duly authorized to do so. 
  

 25 

 (b) Seller and Purchaser agree, jointly and severally, to indemnify and hold
harmless Escrow Agent from and against any and all actual claims, liabilities, losses, actions, suits or proceedings at law or in equity, or any other reasonable expenses, fees or charges of any character or nature whatsoever, which Escrow Agent may
incur or with which it may be threatened solely by reason of its acting as escrow agent hereunder, except to the extent resulting from Escrow Agent’s gross negligence, fraud or intentional misconduct; and in connection therewith, to indemnify
Escrow Agent against any and all reasonable expenses, including reasonable attorneys’ fees and the cost of defending any action, suit or proceedings or resisting any claim; provided, however, that if such expenses are incurred by Escrow Agent
in connection with litigation between Seller and Purchaser, the responsibility for indemnifying Escrow Agent for such expenses will belong solely to the non-prevailing party. 

(c) Escrow Agent shall hold and disburse the Deposit in accordance with the terms of this Agreement. Escrow Agent will not
make any disbursement of the Deposit (except at a Closing pursuant to a fully executed Settlement Statement) without giving written notice to the party which will not receive the disbursement at least three (3) Business Days in advance of the
scheduled disbursement. The failure of the party not receiving the disbursement to object to the disbursement by written notice to the other party and to Escrow Agent prior to the scheduled disbursement will constitute binding acquiescence of such
party to the disbursement. 
 (d) If there is any disagreement about the interpretation of this Contract, or
about the rights and obligations, or the propriety, of any action contemplated by Escrow Agent hereunder, Escrow Agent may, and upon the request of either Seller or Purchaser, shall file an action in interpleader to resolve such disagreement, but
Escrow Agent will not take any other action unless both Seller and Purchaser agree in writing to such action. Escrow Agent will be indemnified (by Seller or Purchaser, whichever is the non-prevailing party) as set forth in the foregoing subsection
(b) in connection with such interpleader action, and will be fully protected in suspending all or a part of its activities under this Contract until a final judgment in the interpleader action is received. 

(e) Escrow Agent may consult with counsel of its own choice and will have full and complete authorization and protection
for any action taken or suffered by it hereunder in good faith and in accordance with the opinion of such counsel. The costs of such counsel shall be shared equally by Seller and Purchaser, and the selection of such counsel shall be subject to the
reasonable prior approval of Seller and Purchaser. Escrow Agent otherwise will not be liable for any mistakes of fact or error of judgment, or for any acts or omissions of any kind unless caused by its fraud willful misconduct or gross negligence.

 (f) Escrow Agent may resign upon fifteen (15) days’ written notice to Seller and Purchaser, and if a
successor escrow agent is not appointed within such fifteen (15) day period, Escrow Agent may petition a court of competent jurisdiction to name a successor. 

 

 26 

 14. Arbitration. 

(a) In the event of a dispute, controversy or difference between Purchaser and Seller over any disbursement request or
release request (each, a “Claim”), at the request of either party, such dispute, controversy or difference shall be submitted to arbitration by the American Arbitration Association in accordance with the “expedited
arbitration” procedures of the commercial arbitration rules then in effect, except as modified by this Article 14. The arbitration tribunal shall be comprised of three (3) arbitrators each of whom shall have at least five
(5) years’ experience in GSA leased or operated buildings, one to be appointed by each of Lessee and Operator and the third to be appointed by the American Arbitration Association. 

(b) After being duly appointed, the arbitrators shall proceed with all reasonable dispatch to determine the issue. Prior
to the commencement of arbitration hearings, the arbitrators shall provide an oath or undertaking of impartiality. The arbitrator shall have no power to alter, modify or amend the terms of this Contract. The decision of the arbitrator shall be in
writing and in duplicate, one counterpart thereof to be delivered to each of the parties the “Final Determination”). Any award of the arbitrators shall be limited to a determination as to whether and to what extent a Claim should be
paid out of the Post-Closing Escrow. 
 (c) The arbitration shall be conducted in Miami, Florida and the
arbitration session shall be held not later than twenty (20) days after the final selection of the arbitrators. The costs of arbitration shall be allocated by the arbitrator to be paid by the non-prevailing party. Judgment on the award rendered
by the arbitrator in accordance with this Article 14 may be entered in any court having jurisdiction thereof. 
 15. Miscellaneous.

 15.1 Broker. Seller and Purchaser represent to each other that neither party has dealt with any broker or real estate
consultant other than Holliday Fenaglio Fowler, L.P. (“Broker”) in connection with the transaction contemplated by this Contract. Seller agrees to pay all fees, commissions or other charges due to Broker, if, as and when the Closing
occurs hereunder, pursuant to a separate agreement with Broker. Seller and Purchaser shall indemnify and hold the other free and harmless from and against any actual liabilities, damages, costs or expenses (including, but not limited to, reasonable
attorneys’ fees and disbursements) suffered by the indemnified party arising from a misrepresentation or a breach of any covenant made by the indemnifying party pursuant to this Section. The provisions of this Section shall survive the Closing
or termination of this Contract. 
 15.2 Assignment of this Contract. This Contract may not be assigned by Purchaser
without the prior written consent of Seller, except to an affiliate of Purchaser (a) that is controlled by, or under common control with, Purchaser (which shall include any entity in which Purchaser, or its members or its members’
principals, possess, directly or indirectly, the power to direct or cause the direction of its management and policies, whether through ownership of voting securities or otherwise), or (b) in which Purchaser or an affiliate of Purchaser is a
member or principal, so long as in either case any such entity or entities are controlled in whole or part by Purchaser (for itself or together with a co-managing member) and after delivery of written notice thereof to the Seller. Purchaser and any
permitted assignee of Purchaser shall execute and 
  

 27 

 
deliver to Seller within five (5) days prior to Closing an assignment and assumption agreement whereby Purchaser assigns all of its right, title and interest in, to and under the Contract to
such assignee, and such assignee assumes all of Purchaser’s obligations hereunder, without Purchaser being released from such obligations. A direct or indirect transfer, sale or assignment of the majority stock interest in a corporate purchaser
or the majority membership interest in a limited liability company purchaser or the majority or any general partnership interest of a partnership purchaser shall constitute an assignment of this Contract, which assignment or attempted assignment
shall be void if made without the prior written consent of Seller. No assignment of this Contract shall relieve Purchaser from any of its obligations set forth herein arising prior to or after the effective date of the assignment. 

15.3 Attorneys’ Fees. If a Purchaser or Seller institute a legal proceeding against the other party in connection with this
Contract, the non-prevailing party in such proceeding shall reimburse the prevailing party all reasonable attorneys’ fees paid by the prevailing party or on behalf of Escrow Agent in connection with such proceeding. 

15.4 Notices. All notices hereunder to Seller or Purchaser shall be sent: (i) by Federal Express or other overnight courier
which obtains a signature upon delivery; (ii) via facsimile; or (iii) by hand delivery, in each case addressed to such party at the address of such party set forth below or at such other address as such party shall designate from time to
time by notice: 
 SELLER: 

South Florida Federal Partners—West Palm Beach, LLC 

4700 Linnean Ave. NW 
 Washington, D.C. 20008

 Attention: Mark Levin 
 Facsimile:
202 244-4044 
 Email: mark4700@aol.com 

with a copy to: 
 Shutts & Bowen LLP

 201 South Biscayne Boulevard 
 Suite
1500 
 Miami, Florida 33131 
 Attn: J.
Donald Wasil, Esq. 
 Facsimile: (305) 347-7857 

Email: dwasil@shutts.com 
 PURCHASER: 

 BC Development Co., LLC 
 20 S. Clark
Street, Suite 2475 
 Chicago, Illinois 60603 

Attn: Edwin M. Stanton 
 Facsimile:
(312) 755-1455 
 Email: estanton@SRSInvestments.com 

 

 28 

 with a copy to: 

Gregory Kaplan, PLC 
 7 East Second Street

 Richmond, Virginia 23224 
 Attn:
Christopher J. Hoctor, Esq. 
 Facsimile: (804) 916-9045 

Email: choctor@gregkaplaw.com 
 ESCROW AGENT:

 Chicago Title Insurance Company 

2701 Gateway Drive 
 Pompano Beach, Florida 33069

 Attn: Alan Weissman 
 Facsimile:
(954) 971-2050 
 Email: aweissman@fnf.com 

Notices shall be deemed served, in the case of overnight courier or hand delivery, on the date actually delivered to or rejected by the intended
recipient, and in the case of facsimile, upon the sender’s receipt of confirmation of transmission of such facsimile notice produced by the sender’s facsimile machine, provided a copy of such transmission and the confirmation receipt
thereof is deposited with an overnight courier for next day delivery properly addressed and paid for, except for notice(s) which advise the other party of a change of address of the party sending such notice or of such party’s attorney, which
notice shall not be deemed served until actually received by the party to whom such notice is addressed or delivery is refused by such party. Notices on behalf of the respective parties may be given by their attorneys, and such notices shall have
the same effect as if in fact subscribed by the party on whose behalf it is given. Notwithstanding the foregoing provisions of this Section: (a) notices served by hand delivery shall be deemed served on the date of delivery if delivered at or
prior to 5:00 p.m. (Eastern time) on a Business Day and on the next Business Day if delivered after 5:00 p.m. (Eastern time) on a Business Day or at any time on a non-Business Day; and (b) notices served by facsimile shall be deemed served on
the date of transmission if the sender receives confirmation of transmission in the manner set forth above at or prior to 5:00 p.m. (Eastern time) on a Business Day and on the next Business Day if the sender receives confirmation of transmission in
the manner set forth above after 5:00 p.m. (Eastern time) on a Business Day or at any time on a non-Business Day. 
 15.5
Further Assurances. The parties each agree to do such other and further acts and things, and to execute and deliver such instruments and documents (not creating any obligations additional to those otherwise imposed by this Contract), as
either may reasonably request from time to time, whether at or after the Closing, in furtherance of the purposes of this Contract. The provisions of this Section shall survive the Closing for three (3) months. 

 

 29 

 15.6 Confidentiality. 

(a) Purchaser agrees that all written documentation furnished to Purchaser by Seller concerning the Premises, including,
without limitation, the GSA Lease, the Property Contracts, and the Property Documents (all of the aforementioned information is collectively referred to as “Evaluation Material”), shall be treated confidentially as hereinafter
provided. 
 (b) All Evaluation Material shall not be used or duplicated by Purchaser in any way detrimental to
Seller, or for any purpose other than evaluating a possible purchase of the Premises by Purchaser, for any equity/joint venture partners or obtaining financing. Purchaser agrees to keep all Evaluation Material (other than information which is a
matter of public record or is provided in other sources readily available to the public other than as a result of disclosure thereof by Purchaser or Related Parties) strictly confidential; provided, however, that the Evaluation Material may be
disclosed to the directors, officers, employees and partners of Purchaser, and to Purchaser’s lender, financing partners, agents, attorneys and accounting firm (all of whom are collectively referred to as “Related Parties”) who
need to know such information for the purpose of evaluating a possible purchase of the Premises. The Related Parties shall be informed of the confidential nature of the Evaluation Material and shall be directed to keep all such information in the
strictest confidence and use such information only for the purpose of evaluating a possible purchase by Purchaser. Purchaser will promptly, upon request of Seller following the termination of this Contract, deliver to Seller all Evaluation Material
furnished by Seller, whether furnished before or after the date hereof, without retaining copies thereof. Purchaser will direct Related Parties to whom Evaluation Material is made available not to make similar disclosures and any such disclosure
shall be deemed made by and be the responsibility of Purchaser. 
 (c) Prior to the Closing, Purchaser shall keep
strictly confidential and shall cause the Related Parties to keep strictly confidential the provisions of this Contract and the transactions contemplated hereunder. After the Closing, Purchaser and Seller shall not make any public disclosures and
shall cause the Related Parties not to make any public disclosures mentioning Purchaser and/or Seller or regarding the provisions of this Contract or the transactions accomplished at Closing without the prior written consent of each party, unless
required by law 
 (d) Notwithstanding the foregoing provisions of this Section 15.6, Purchaser shall be
entitled to disclose the Evaluation Materials and the existence of this Agreement to the extent, but only to the extent, such disclosure is required by applicable law or court order. 

(e) The provisions of this Section 15.6 shall survive the Closing or termination of this Contract. 

15.7 Recording. Purchaser shall not record this Contract or any memorandum thereof and any such recording shall be null and void
and shall constitute a default hereunder. 
 15.8 Successors and Assigns. This Contract shall be binding upon and shall
inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors and permitted assigns, if any, but nothing contained herein shall be deemed a waiver of the provisions of Section 15.2 hereof.

  

 30 

 15.9 Entire Contract; Time is of the Essence. This Contract, the Schedules and
Exhibits annexed hereto constitute the entire agreement between the parties hereto with respect to the subject matter hereof, and all understandings and agreements heretofore or simultaneously had between the parties hereto are merged in and are
contained in this Contract and said Schedules and Exhibits. Purchaser and Seller acknowledge and agree that time is of the essence in the performance of the rights and obligations set forth in this Contract. 

15.10 Waiver and Modifications. The provisions of this Contract may not be waived, changed, modified or discharged orally, but
only by an agreement in writing signed by the party against which any waiver, change, modification or discharge is sought. 

15.11 Captions and Titles. The captions or section titles contained in this Contract and the Index, if any, are for
convenience and reference only and shall not be deemed a part of the text of this Contract. 
 15.12 Construction. The
terms “hereof,” “herein,” and “hereunder,” and words of similar import, shall be construed to refer to this Contract as a whole, and not to any particular article or provision, unless expressly so stated. The term
“including” shall mean including without limitation. Words using the singular or plural also include the plural or singular, respectively. All words or terms used in this Contract, regardless of the number or gender in which they are used,
shall be deemed to include any other number and any other gender as the context may require. 
 15.13 Non-Business Days.
If a party is required to perform an act or give a notice on a date that is a Saturday, Sunday or national holiday, the date such performance or notice is due shall be deemed to be the next Business Day. 

15.14 Governing Law and Jurisdiction. This Contract is to be governed and construed in accordance with the internal laws of the
State of Florida. Purchaser and Seller hereby submit to the jurisdiction of the State and United States Federal District Courts located in Palm Beach County, Florida in respect of any suit or other proceeding brought in connection with or arising
out of this Contract. The provisions of this Section 15.14 shall survive the Closing or earlier termination of this Contract. 

15.15 Counterparts. This Contract may be executed in two or more counterparts and each of such counterparts, for all purposes,
shall be deemed to be an original but all of such counterparts together shall constitute but one and the same instrument, binding upon all parties hereto, notwithstanding that all of such parties may not have executed the same counterpart. This
Agreement may be delivered by facsimile transmission or via electronic transmission of PDF files, and facsimile or PDF signatures shall have the same effect as originals 

15.16 No Third Party Beneficiary. This Contract is made for the sole benefit of Seller and Purchaser and their respective
successors and assigns (subject to Section 15.2 above), and no other person shall have any right, remedy or legal interest of any kind by reason of this Contract other than Escrow Agent. 

 

 31 

 15.17 Submission not an Offer. The submission of this Contract to any party by Seller
shall not be construed as an offer, nor shall Purchaser have any rights with respect thereto, unless and until Seller shall execute a copy of this Contract and deliver the same to Purchaser. 

15.18 Severability. If any provision of this Contract is determined by a court of competent jurisdiction to be invalid or
unenforceable, such determination will not effect the remaining provisions of this Contract, all of which will remain in full force and effect. 

15.19 Radon Gas. 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 a period of 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 health units 
 15.20 No Construction Against Drafter. Each party and its counsel have
had an opportunity to review and suggest revisions to the language of this Agreement. Accordingly, no provision of this Agreement shall be construed for or against or interpreted to the benefit or disadvantage of any party by reason of any party
having or being deemed to have drafted such provision. 
 15.21 Attorneys’ Fees. In the event of any litigation arising out
of this Agreement, the prevailing party shall be entitled to recover its reasonable costs and expenses, including reasonable attorneys, fees and costs, incurred in connection therewith, whether at the investigative, pretrial, trial or appellate
level. The prevailing party shall be determined by the court based upon an assessment of which party’s major arguments or position prevailed. 

15.22 WAIVER OF JURY TRIAL. SELLER AND PURCHASER EACH HEREBY WAIVES THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO
ANY LITIGATION ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE EACH PARTY TO ENTER INTO THIS AGREEMENT. 

[SIGNATURE PAGES TO FOLLOW] 
  

 32 

			
	 PURCHASER:
  

BC DEVELOPMENT CO., LLC,
 a Missouri limited
liability company

		
	By:	 	/s/ Richard Baier
	 Name: Richard Baier

Title: Principal
 Federal Tax I.D.: 20-5164785

 IN WITNESS WHEREOF, the parties hereto have duly executed this Contract the day and
year first above written. 
  

			
	 SELLER:
  

SOUTH FLORIDA FEDERAL PARTNERS—WEST PALM BEACH, LLC, a Florida limited liability company

		
	By:	 	/s/ Mark M. Levin
	 Name:
 Title:
	 	 Mark M. Levin
 Managing
Partner

			
	ESCROW AGENT:
	
	CHICAGO TITLE INSURANCE COMPANY
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 SCHEDULE A 

LEGAL DESCRIPTION OF PROPERTY 

Lot 1 of ROYAL PALM BUSINESS PLAZA, according to the plat thereof as recorded in Plat Book 106, Page 84, of the Public Records of Palm Beach County,
Florida. 
  

 Schedule A 

 SCHEDULE A-1 

PERSONAL PROPERTY 

None. 
  

 Schedule A-1 

 SCHEDULE B 

BILL OF SALE AND ASSIGNMENT 

This Bill of Sale and Assignment (“Assignment”), dated ________ __, 2010, is executed and delivered pursuant to that certain
Contract of Sale (the “Contract”) dated as of July __, 2010, by and between South Florida Federal Partners—West Palm Beach, LLC, a Florida limited liability company (“Seller”) and BC Development Co., LLC, a Missouri limited
liability company (“Buyer”), concerning the real property described in Exhibit “A”, attached hereto (the “Land”). All capitalized terms not otherwise defined herein shall have the same meanings given them in the
Contract. 
 1. Assignment. For good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Seller hereby grants, sells, transfers, conveys and delivers to Buyer all of Seller’s interest, if any, in all of the following (the “Assigned Property”): 

(a) all Equipment; 

(b) all Personal Property, including, but not limited to, those items of Personal Property listed in
Exhibit “B”, attached hereto and incorporated herein by reference. 
 (c) to the extent
assignable, any and all trade names and any other intangible personal property used in connection with the operation of the Property; 

(e) the GSA Lease and all rents and other sums due thereunder from and after the Closing; 

(f) to the extent assignable, all contracts and agreements relating to any tenant improvement, moving, design and
refurbishment requirements under the GSA Lease; 
 (g) to the extent assignable, all warranties and guaranties
(express or implied) issued to, and held in the name of, Seller in connection with the Property; 
 (h) to the
extent assignable, all permits, licenses, approvals and authorizations issued by any governmental authority in favor of Seller in connection with the Property; and 

(i) those Property Contracts listed in Exhibit “C”, attached hereto and incorporated herein by
reference. 
 2. Acceptance and Assumption. Buyer hereby accepts the foregoing Assignment, and assumes all of
Seller’s liabilities, obligations, duties and responsibilities under and in connection with the Assigned Property, to the extent incurred or to be performed after the date hereof. 

3. As Is Conveyance. The Assigned Property is conveyed by Seller to Purchaser AS IS, WHERE IS, WITH ALL FAULTS, and
without representation, warranty or recourse of any kind 
  

 Schedule B 

 4. Miscellaneous. 

(a) Seller and Buyer each agrees to execute such other documents and perform such other acts as may be reasonably
necessary or desirable to effectuate this Assignment. 
 (b) In the event of any action or suit by either party
hereto against the other arising from or interpreting this Assignment, the prevailing party in such action or suit shall, in addition to such other relief as may be granted, be entitled to recover its costs of suit and actual attorney’s fees,
whether or not the same proceeds to final judgment. 
 (c) This Assignment shall be governed by and construed in
accordance with the internal laws of the State of Florida. 
 (d) This Assignment shall be binding upon and inure
to the benefit of Seller and Buyer, and their respective successors and assigns. 
  

 Schedule B 

 IN WITNESS WHEREOF, Seller and Buyer have executed this Assignment as of the date first
above written. 
  

					
	SELLER:
	
	 SOUTH FLORIDA FEDERAL PARTNERS—

WEST PALM BEACH, LLC, a Florida
 limited
liability company

		
	By:	 	SFFP—LEVINCO, LLC,
		 	a Florida limited liability company.
		 	Managing Member
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 
		
	By:	 	SFFP NICO—BROWARD, LLC,
		 	a Florida limited liability company.
		 	Managing Member
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  

 Schedule B 

			
	PURCHASER:
	
	 BC DEVELOPMENT CO., LLC,

a Missouri limited liability company

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 Schedule B 

 SCHEDULE C 

FORM OF SPECIAL WARRANTY DEED 

THIS INSTRUMENT PREPARED BY: 
 J. Donald Wasil,
Esq. 
 Shutts & Bowen LLP 

1500 Miami Center 
 201 S. Biscayne Blvd.

 Miami, Florida 33131 
 Property
Control Number: 
 SPECIAL WARRANTY DEED 

THIS SPECIAL WARRANTY DEED is made as of the ____day of ____________, 2010, by SOUTH FLORIDA FEDERAL PARTNERS—WEST PALM BEACH, LLC,
a Florida limited liability company, whose post office address is _______________ (“Grantor”), to and for the benefit of _____________________, whose post office address is __________________________ (“Grantee”). Grantee’s
tax identification number is _________________. 
 W I T N E S S E
T H: 
 That Grantor, for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable
consideration to it in hand paid by Grantee, the receipt and sufficiency of which are hereby acknowledged, has granted, bargained, conveyed, and sold, and does hereby grant, bargain, convey, and sell, unto Grantee and Grantee’s successors and
assigns, all that certain land lying, situated and being in Miami-Dade County, Florida, more particularly described on Exhibit “A”, attached hereto and by this reference incorporated herein (the “Land”), and all rights,
privileges, tenements, hereditaments, easements and appurtenances belonging to the Land; 
 TOGETHER WITH all of Grantor’s
right, title and interest, if any, in and to all buildings, structures and other improvements located on the Land, and any and all fixtures attached to or incorporated within such buildings, structures and other improvements, if any. 

All of the property and property rights described above shall be referred to herein as the “Property”. 

To have and to hold the Property, and all the estate, right, title, interest, lien, and equity whatsoever of Grantor with respect to
same, either in law or in equity, to the proper use and benefit of Grantee and Grantee’s successors and assigns, forever, in fee simple. 
  

 Schedule C 

 This conveyance is subject to the matters listed on Exhibit “B”, attached
hereto and incorporated herein by this reference (collectively, the “Permitted Exceptions”); provided, however, that the reference to the Permitted Exceptions shall not be deemed to reimpose any of same. 

Subject to the Permitted Exceptions, Grantor does hereby covenant with Grantee that, at the time of the delivery of this Special Warranty
Deed, the Property was free from any encumbrance made by Grantor, and that Grantor will specially warrant title to the Property and will defend it against the lawful claims of all persons claiming by, through or under Grantor, but against none
other. 
 IN WITNESS WHEREOF, this Special Warranty Deed has been executed by Grantor to be effective as of ________________
___, 2010. 
  

											
	Signed, sealed and delivered	 		 	GRANTOR:
	in the presence of:	 		 	
		 		 	 SOUTH FLORIDA FEDERAL

PARTNERS—WEST PALM BEACH, LLC,
 a Florida
limited liability company

				
		 		 	By:	 	SFFP—LEVINCO, LLC,
		 		 		 		 	a Florida limited liability company.
		 		 		 		 	Managing Member
					
	 	 		 		 	By:	 	 
	Name:	 	 	 		 		 	Name:	 	 
		 		 		 		 	Title:	 	 
					
	 	 		 		 		 	
	Name:	 	 	 		 		 		 	
				
		 		 	By:	 	SFFP NICO—BROWARD, LLC,
		 		 		 		 	a Florida limited liability company.
		 		 		 		 	Managing Member
					
	 	 		 		 	By:	 	 
	Name:	 	 	 		 		 	Name:	 	 
		 		 		 		 	Title:	 	 
					
	 	 		 		 		 	
	Name:	 	 	 		 		 		 	

  

 Schedule C 

					
	 STATE OF FLORIDA
	  	)	  	
		  	)	  	
	 COUNTY OF               
	  	)	  	

 The foregoing instrument was acknowledged before me on _____________ ___, 2010 by
______________________________, as _____________________, of SFFP—LEVINCO, LLC, a Florida limited liability company, as Managing Member of SOUTH FLORIDA FEDERAL PARTNERS—WEST PALM BEACH, a Florida limited liability company, on behalf of
the companies. 
  

	
	  
	Notary Public in and for the State of Florida
	
	  
	Printed/Typed Name of Notary
	
	My Commission Expires:
                                        

  

					
	 STATE OF FLORIDA
	  	)	  	
		  	)	  	
	 COUNTY OF               
	  	)	  	

 The foregoing instrument was acknowledged before me on _____________ ___, 2010 by
______________________________, as _____________________, of SFFP NICO—BROWARD, LLC, a Florida limited liability company, as Managing Member of SOUTH FLORIDA FEDERAL PARTNERS—WEST PALM BEACH, a Florida limited liability company, on behalf
of the companies. 
  

	
	  
	Notary Public in and for the State of Florida
	
	  
	Printed/Typed Name of Notary
	
	My Commission Expires:
                                        

  

 Schedule C 

 SCHEDULE D 

GSA LEASE 
 Lease No.
GS-04B-47145 dated October 12, 2007, including the Solicitation for Offers and other items described in Paragraph 8 thereof. 
  

 Schedule D 

 SCHEDULE E 

FORM OF IRREVOCABLE RENT DIRECTION LETTER 

______________ ___, 2010 
 [Depository
Institution] 
 ________________________ 

________________________ 
  

	 	Re:	Irrevocable Notice for Disbursements 

Ladies and Gentlemen: 
 Reference is made to
that certain [Deposit Account Agreement] between [Seller Name] (“Owner”) and [Depository Institution] (the “Bank”) dated as of ____________________ (“Account Agreement”) designated account number
________________ (the “Account”). 
 As you know, Owner has entered into that certain Contract for Sale with BC Development
Co., LLC, a Missouri limited liability company (together with its successors and assigns, the “Buyer”), for the purchase and sale of certain real property owned by Owner (the “Property”). Owner leases the Property
to the United States of America, General Services Administration (the “GSA”), which is the sole tenant of the Property, and the GSA deposits its rent payment into the Account monthly. Contemporaneously with Buyer’s acquisition of the
Property from Owner, Owner will assign all of its rights in and to the lease for the Property and rents received from the Property pursuant to a Bill of Sale, Assignment and Assumption Agreement by and between Owner and Buyer. However, the GSA may
continue to make payments to the Account instead of to an account designated by Buyer. 
 In order to ensure that rent payments are directed to
Buyer, Owner hereby irrevocably directs Bank to disburse funds received into the Account by Bank after the date hereof to an account designated by Buyer in writing to Bank immediately after receipt of such funds by Bank. 

Owner hereby agrees that this Letter Agreement shall be irrevocable, shall not be amended, except with the prior written consent of Buyer, and shall
supersede any modification, amendment or alteration of the Account Agreement (whether executed prior to this Letter Agreement or after). No changes shall be made to the Account Agreement regarding the amount of or conditions to disbursement or any
other material terms. 
 The parties executing this Letter Agreement recognize and agree that Buyer is the third-party beneficiary of this
Letter Agreement. This Letter Agreement may be signed in counterparts, each of which is an original and all of which together constitute one document. 
  

 Schedule E 

					
	SELLER:
		
	By:	 	SFFP—LEVINCO, LLC,
		 	a Florida limited liability company.
		 	Managing Member
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 
		
	By:	 	SFFP NICO—BROWARD, LLC,
		 	a Florida limited liability company.
		 	Managing Member
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  

			
	 Agreed and acknowledged as of

_______________ ___, 2010:

	  
 BANK:

	  
 [Depository Institution]

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 Schedule E 

 SCHEDULE F 

SELLER’S ADDITIONAL CREDITORS 

None 
  

 Schedule F 

 SCHEDULE G 

ADDITIONAL PROPERTY DOCUMENTS 
  

	1.	Any current outstanding tenant improvements required of the Seller and any outstanding funds owed to the tenant by the Seller. 

 

	2.	A current report outlining tenant’s name; current rental rate; any prepaid or delinquent rent; any deposits, whether refundable or nonrefundable; and any rental
concessions. 

  

	3.	A current financial statement of Property operations (updated quarterly), including, but not limited to, a statement of revenues and expenses, balance sheets, and a
statement of cash flow from the inception of the lease relating to the Property and a 2010 Budget. 

  

	4.	Capital Improvements, if any, that are planned for the next two (2) years; include description and estimated costs. 

 

	5.	Year-to-date copies of the general ledgers related to the Property (updated quarterly) and copies of Seller’s general ledger since the inception of the lease on
the Property detailing individual revenue and expense transactions or invoices. Bank statements and paid invoices which support the general ledger entries will also be provided. 

 

	6.	Copies of insurance bills and insurance certificates and evidence of insurance premiums paid. 

 

	7.	Copies of any personal property rental agreements pertaining to personal property or business equipment used in the operation of the Property. 

 

	8.	Copies of any zoning and/or conditional use or similar permits or actions permitting the current use of the Property. 

 

	9.	Any other items reasonably requested by Buyer, provided that receipt and approval of these items shall not delay the Closing or the expiration of the Due Diligence
Period. 

  

 Schedule G 

 SCHEDULE H 

CONTRACTORS QUALIFICATIONS AND FINANCIAL INFORMATION 

_________________________ 
 {Insert Contractor
Info} 
  

	 	Re:	[Insert Description of Contract] 

 Dear
Contractor: 
 You are hereby notified and advised that all future notices and correspondence should be mailed to the following
address: 
 _____________________________ 

_____________________________ 

_____________________________ 

_____________________________ 

Please do not hesitate to contact ____________________ at ____________________ with any questions regarding this matter. 

 

									
	 Very truly yours,
	 		 	
			
	 ON BEHALF SELLER:
	 		 	 
				
		 		 	By:	 	 
		 		 		 		 	Name
		 		 		 		 	Title:
			
	 ON BEHALF PURCHASER:
	 		 	 
				
		 		 	By:	 	 
		 		 		 		 	Name
		 		 		 		 	Title:

  

 Schedule H 

 SCHEDULE “I” 

PROPERTY CONTRACTS 

Management Agreement dated April 9, 2008 between Owner and CBRE Richard Ellis, Inc. 

Agreement with Thomas C. Litton. 
  

 Schedule I 

 SCHEDULE “J” 

PENDING LITIGATION 

None 
  

 Schedule J 

 SECOND AMENDMENT TO CONTRACT FOR SALE 

THIS SECOND AMENDMENT TO CONTRACT FOR SALE (“Amendment”), dated as of September 15, 2010 between SOUTH FLORIDA FEDERAL
PARTNERS—WEST PALM BEACH (“Seller”), and BC DEVELOPMENT CO., LLC (“Purchaser”). 

RECITALS: 

A. Seller and Purchaser heretofore entered into that certain Contract for Sale dated as of August 2, 2010 as amended by that First
Amendment to Contract for Sale dated as of September 1, 2010, pertaining to the purchase and sale of certain improved property located at 9300 Belvedere Road, Royal Palm Beach, Florida, and more particularly described therein (collectively, the
“Contract”). 
 B. Seller and Purchaser desire to amend the Contract in accordance with the terms of this
Amendment. 
 AGREEMENT: 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Purchaser and Seller
agree as follows: 
 1. Recitals. The foregoing recitals are true and correct, and are incorporated herein by this
reference, as if set out in full in the body of the Contract. 
 2. Defined Terms. Unless otherwise defined herein,
capitalized terms used herein shall have the respective meanings given to them in the Contract. 
 3. Section References.
Unless otherwise stated herein, all references herein to Sections shall be deemed to refer to Sections of the Contract. 
 4.
Amendments to Contract. The Contract is hereby amended as follows: 
 4.1 Due Diligence Period.
Section 5.1(a) is hereby amended so as to extend the expiration date of the Due Diligence Period to 5:00 p.m. Eastern time on September 21, 2010. All references in the Contract to the Due Diligence Period shall be deemed to refer to the
Due Diligence Period as so extended. 
 4.2 Deposit. In the event Purchaser, prior to the expiration date of the Due
Diligence Period (as extended to September 21, 2010 pursuant to Section 4.1 above), provides written notice (the “Acceptance Notice”) to Seller and Escrow Agent pursuant to Section 5.5, confirming Purchaser’s
election to proceed to Closing: (i) Purchaser shall pay the additional $150,000 described in Section 3.2, which shall become part of the Deposit; and (ii) the Deposit shall be non-refundable, except as otherwise expressly provided by
the Contract. As provided for by Section 5.5, if Purchaser fails to provide the Acceptance Notice prior to such expiration date of the Due Diligence Period, Purchaser shall be deemed to have elected to terminate the Contract, in which event the
Deposit shall be promptly returned to Purchaser by Escrow Agent, and the Contract shall be terminated and the parties released from any further right or obligation under the Contract (with the sole exception of Purchaser’s indemnification in
Article 5). 

 4.3 Closing Date. Section 10.4(a) is amended to read in its entirety as follows:

 (a) Subject to the adjournments expressly allowed elsewhere in this Contract, the closing of the transaction contemplated by
this Contract shall take place on or before September 30, 2010 (the “Closing Date”), unless Seller and Purchaser mutually agree to an earlier or later date or such Closing Date is extended pursuant to the terms hereof.
Notwithstanding the foregoing, provided that Purchaser is not then in default hereunder, Purchaser may extend the Closing Date one time to October 15, 2010 by giving Seller and Escrow Agent written notice of Purchaser’s election to so
extend the Closing Date, and wire transferring to Escrow Agent the additional sum of One Hundred Thousand and No/100 Dollars ($100,000), all on or before September 21, 2010 at 5 p.m. Eastern time. Such additional $100,000, when deposited, shall
be deemed to be part of the Deposit (which shall be in addition to the $50,000 initial deposit amount and the $150,000 additional deposit amount specified in Section 3.2 above, for a total of $300,000). 

5. No Other Modifications. The Contract remains in full force and effect, without modification, except as expressly modified
hereby. 
 6. Counterparts; Electronic Delivery. This Amendment may be executed in counterparts, each of which shall be
deemed an original, and all of which shall constitute but one instrument. This Amendment may be delivered via facsimile or other electronic transmission. 
  

 2 

 IN WITNESS WHEREOF, Purchaser and Seller have caused their names to be signed by their
respective duly authorized officers as of the date first above written. 
  

			
	Seller:
	
	 SOUTH FLORIDA FEDERAL PARTNERS— WEST PALM BEACH, LLC,

a Florida limited liability company

		
	By:	 	 /s/ Mark Levin

	Name:	 	Mark M. Levin
	Title:	 	Managing Member
	
	Purchaser:
	
	 BC DEVELOPMENT CO., LLC,

a Missouri limited liability company

		
	By:	 	 /s/ Dan Carr

	Name:	 	Dan Carr
	Title:	 	Principal

  

 3 

 THIRD AMENDMENT TO CONTRACT FOR SALE 

THIS THIRD AMENDMENT TO CONTRACT FOR SALE (“Amendment”), dated as of September 21, 2010 between SOUTH FLORIDA FEDERAL
PARTNERS—WEST PALM BEACH (“Seller”), and BC DEVELOPMENT CO., LLC (“Purchaser”). 

RECITALS: 

B. Seller and Purchaser heretofore entered into that certain Contract for Sale dated as of August 2, 2010 as amended by that certain
First Amendment to Contract for Sale dated as of September 1, 2010, and as amended by that certain Second Amendment to Contract for Sale dated as of September 15, 2010 pertaining to the purchase and sale of certain improved property
located at 9300 Belvedere Road, Royal Palm Beach, Florida, and more particularly described therein (collectively, the “Contract”). 

B. Seller and Purchaser desire to amend the Contract in accordance with the terms of this Amendment. 

AGREEMENT: 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Purchaser and Seller
agree as follows: 
 1. Recitals. The foregoing recitals are true and correct, and are incorporated herein by this
reference, as if set out in full in the body of the Contract. 
 2. Defined Terms. Unless otherwise defined herein,
capitalized terms used herein shall have the respective meanings given to them in the Contract. 
 3. Section References.
Unless otherwise stated herein, all references herein to Sections shall be deemed to refer to Sections of the Contract. 
 4.
Amendments to Contract. The Contract is hereby amended as follows: 
 4.1 Deposit. 

(a) Section 3.2 is amended to read in its entirety as follows: 

3.2 The Purchaser shall pay (i) on or before the Effective Date, FIFTY THOUSAND AND NO/100s DOLLARS ($50,000.00); and (ii) on or
before the expiration of the Due Diligence Period, ONE HUNDRED THOUSAND AND NO/100s DOLLARS ($100,000.00) (collectively, (i) and (ii), together with any interest earned thereon, the “Deposit”). The Deposit shall be held in escrow by
Escrow Agent, in an interest-bearing escrow account with interest to accrue for the benefit of the party entitled to the Deposit hereunder. Purchaser’s failure to deposit any portion of the Deposit when and as due and payable hereunder shall
constitute an immediate default hereunder, with no notice or cure rights. 
 (b) This Amendment shall act as Purchaser’s
Acceptance Notice confirming Purchaser’s election to proceed to Closing, and Seller hereby confirms that Purchaser has elected to proceed to Closing in accordance with Section 5.5 and that the Due Diligence Period has expired. Accordingly,
Purchaser shall pay the additional $100,000 described in Section 3.2 (as amended), which shall become part of the Deposit; and the Deposit shall be non-refundable, except as otherwise expressly provided by the Contract. 

 4.3 Closing Date. Section 10.4(a) is amended to read in its entirety as follows:

 (a) Subject to the adjournments expressly allowed elsewhere in this Contract, the closing of the transaction contemplated by
this Contract shall take place on or before October 15, 2010 (the “Closing Date”), unless Seller and Purchaser mutually agree to an earlier or later date. 

4.4 Covenants. Article 9 is amended by inserting the following section after the end of Section 9.5. 

9.6 Additional Covenants. 

(a) Prior to Closing, Seller shall have removed two dead trees from the Property and performed landscaping work attendant thereto
subject to Purchaser’s reasonable satisfaction. 
 (b) Seller shall use its best efforts to continue the LEED®
application process (which shall include a commissioning and balancing of the HVAC system, or such other repairs of the HVAC system as may be necessary) and shall diligently prosecute the application for LEED® certification until the Seller
receives LEED® certification for the Improvements as required by the GSA Lease. Seller shall provide reports and related documentation to Purchaser as Purchaser may reasonably request in connection with the LEED® certification. Seller and
its members shall indemnify and hold Purchaser, its members and its indirect owners harmless from and against any and all costs associated with its obligations under this Section 9.6(b) as well as any losses suffered by such parties for
Seller’s failure to comply with the covenants contained in this Section 9.6(b). The provisions of this Section 9.6(b) shall expressly survive the Closing until the later of (i) the Survival Period, or (ii) the date upon
which Seller delivers to Purchaser the final LEED® certification for the Improvements. 
 5. No Other Modifications.
The Contract remains in full force and effect, without modification, except as expressly modified hereby. 
 6. Counterparts;
Electronic Delivery. This Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which shall constitute but one instrument. This Amendment may be delivered via facsimile or other electronic transmission.

  

 5 

 IN WITNESS WHEREOF, Purchaser and Seller have caused their names to be signed by their
respective duly authorized officers as of the date first above written. 
  

			
	Seller:
	
	 SOUTH FLORIDA FEDERAL PARTNERS— WEST PALM BEACH, LLC,

a Florida limited liability company

		
	By:	 	 /s/ Mark Levin

	Name:	 	Mark Levin
	Title:	 	Managing Member
	
	Purchaser:
	
	 BC DEVELOPMENT CO., LLC,

a Missouri limited liability company

		
	By:	 	 /s/ Richard Baier

	Name:	 	Richard Baier
	Title:	 	Principal

  

 6

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