Document:

Deed of Trust, Security Agreement and Fixture Filing

 Exhibit 10.2 

This instrument was prepared by and 
 after
recording return to: 
 Rubin, Ehrlich & Buckley, P.C. 

Princeton Plaza 
 731 Alexander Road 

Princeton, New Jersey 08540 

DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING 

Peridot Properties I, LLC, 

a Colorado limited liability company 

(Grantor) 

to 
 The Public
Trustee of El Paso County, as Trustee 
 (Trustee) 

for the benefit of 

LaSalle Bank National Association, 

a national banking association 

(Beneficiary) 

October 22, 2001 

					
	Table of Contents
		
	 Section
	  	Page
		
	 Defined Terms
	  	iv
			
	1.	    	Payment of Indebtedness; Performance of Obligations	  	4
			
	2.	    	Taxes and Other Obligations	  	4
			
	3.	    	Reserves for Taxes/Insurance/Replacement Reserve/Tenant Improvements and Leasing Reserve	  	4
			
	4.	    	Use of Property	  	7
			
	5.	    	Insurance and Condemnation	  	7
			
	6.	    	Preservation and Maintenance of Property	  	9
			
	7.	    	Protection of Beneficiary’s Security; Leases	  	9
			
	8.	    	Inspection	  	10
			
	9.	    	Books and Records	  	10
			
	10.	    	Financial Statements	  	11
			
	11.	    	Hazardous Materials	  	11
			
	12.	    	Representations and Covenants	  	12
			
	13.	    	Lease Assignment	  	15
			
	14.	    	Subordination, Non-Disturbance and Attornment Agreements/Estoppel Certificates	  	15
			
	15.	    	Transfers of the Property or Ownership Interests in Grantor; Assumption	  	16
			
	16.	    	No Additional Liens	  	22
			
	17.	    	Single Asset Entity	  	23
			
	18.	    	Grantor and Lien Not Released	  	24

  

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	19.	    	Uniform Commercial Code Security Agreement and Fixture Filing	  	25
			
	20.	    	Events of Default; Acceleration of Indebtedness; Remedies	  	25
			
	21.	    	Entity; Remedies	  	26
			
	22.	    	Expenditures and Expenses	  	28
			
	23.	    	Application of Proceeds of Sale	  	29
			
	24.	    	Appointment of Receiver	  	29
			
	25.	    	Forbearance by Beneficiary Not a Waiver	  	30
			
	26.	    	Waiver of Statute of Limitations	  	30
			
	27.	    	Waiver of Homestead and Redemption	  	30
			
	28.	    	Jury Trial Waiver	  	30
			
	29.	    	Indemnification	  	31
			
	30.	    	Duty to Defend	  	31
			
	31.	    	ERISA	  	32
			
	32.	    	No Oral Change	  	32
			
	33.	    	Notice	  	32
			
	34.	    	Successors and Assigns Bound; Joint and Several Liability; Agents; Captions	  	32
			
	35.	    	Governing Law; Severability	  	32
			
	36.	    	Release	  	33
			
	37.	    	Covenants Running with the Land	  	33
			
	38.	    	Terms	  	33
			
	39.	    	Loss of Note	  	33
			
	40.	    	Changes in the Laws Regarding Taxation	  	33

  

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	41.	    	Substitution of Trustee	  	33
			
	42.	    	Exculpation	  	33
			
	43.	    	Disclosure of Information	  	33
			
	44.	    	Sale of Loan; Securitization	  	34
			
	45.	    	Intentionally Omitted	  	34
			
	46.	    	Actions and Proceedings	  	34
			
	47.	    	No Third Party Beneficiaries	  	34
			
	48.	    	Exhibits and Riders	  	34
			
	49.	    	Counterparts	  	35

    Exhibit A - Legal Description 

    Exhibit B - Personal Property Description 

    Exhibit C - Pending and Threatened Litigation 

    Exhibit D - Tenants-In-Common Agreement 

 

 iii 

 Defined Terms 

As used in this Deed of Trust, the following terms shall have the following meanings assigned to them: 

 

			
		
	Grantor	  	Peridot Properties I, LLC, a Colorado limited liability company
		
	Grantor’s Address	  	1625 Larimer Street, #2005, Denver, Colorado 80202
		
	Beneficiary	  	LaSalle Bank National Association, a national banking association, and its successors and assigns as holders of the Note
		
	Beneficiary’s Address	  	135 S. LaSalle Street, Suite 1225, Chicago, Illinois 60603 Attention: Real Estate Capital Markets
Re: Academy Point Loan #01-06-010
		
	Trustee	  	The Public Trustee of El Paso County
		
	Trustee’s Address	  	105 East Vermijo Avenue, Suite 101, Colorado Springs, Colorado 80903
		
	Note	  	That Promissory Note of even date herewith made by Grantor to the order of Beneficiary in the Principal Amount, together with all notes issued in substitution or exchange
therefor, as any of the foregoing may be amended, modified or supplemented from time to time
		
	Principal Amount	  	$6,695,000.00
		
	Maturity Date	  	November 1, 2011
		
	Land	  	The property described on Exhibit A to this Deed of Trust
		
	Personal Property	  	The property described on Exhibit B to this Deed of Trust
		
	Replacement Reserve Monthly Payment	  	$1,535.00
		
	TI and Leasing Reserve Monthly Payment	  	$11,121.00
		
	Permitted Use	  	Office Building
		
	Principals	  	Edward M. Warner
		
	Best’s Rating	  	A General Policy Rating of A: VIII or better in Best’s Key Rating Guide.

 

 iv 

 THIS DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING (“Deed
of Trust”) is made as of the 22nd day of October,
2001, by Grantor to Trustee, for the benefit of Beneficiary. 
 R E C I T A L S: 

A. Grantor has executed and delivered to Beneficiary the Note (which is hereinafter referred to as the “Note”),
providing for monthly installments of principal and interest, with the balance thereof, if not sooner due or paid as set forth in the Note, due and payable on November 1, 2011 (the “Maturity Date”); 

B. Beneficiary wishes to secure (i) the prompt payment of the Note, together with all interest thereon in accordance with the terms
of the Note, as well as the prompt payment of any additional indebtedness accruing to Beneficiary on account of any future payments, advances or expenditures made by Beneficiary pursuant to the Note or this Deed of Trust or any other agreement,
document, or instrument securing the payment of the indebtedness evidenced by the Note (the Note, this Deed of Trust, and any other documents evidencing or securing the indebtedness evidenced by the Note or executed in connection therewith, and any
modification, renewal, extension thereof, are hereinafter collectively referred to as the “Loan Documents”), and (ii) the prompt performance of each and every covenant, condition, and agreement now or hereafter arising
contained in the Loan Documents of Grantor or any “Principal” (as defined in the Note). All payment obligations of Grantor or any Principal are hereinafter sometimes collectively referred to as the “Indebtedness”
and all other obligations of Grantor or any Principal are hereinafter sometimes collectively referred to as the “Obligations”. 

C. The Schedule of Defined Terms appearing immediately before this page is incorporated into this Deed of Trust by reference with the
same force and effect as if contained in the body hereof. 
 NOW, THEREFORE, TO SECURE TO BENEFICIARY the repayment of
the Indebtedness and the performance of the Obligations, Grantor has mortgaged, given, granted, bargained, sold, alienated, enfeoffed, conveyed, confirmed, warranted, pledged, assigned, hypothecated and granted and by these presents Grantor has
executed this Deed of Trust and does hereby irrevocably deed, mortgage, give, grant, bargain, sell, alien, enfeoff, pledge, transfer, convey, confirm, warrant, pledge, assign, hypothecate and grant a security interest in and to Trustee, IN TRUST,
WITH POWER OF SALE, the following described property and all proceeds thereof (which property is hereinafter sometimes collectively referred to as the “Property”): 

A. The Land; 

B. All improvements of every nature whatsoever now or hereafter situated on the Land and owned by Grantor (the
“Improvements”), and all machinery, furnishings, equipment, fixtures, mechanical systems and other personal property now or hereafter owned by Grantor and used in connection with the operation of the Improvements; 

 C. All easements, rights-of-way, strips and gores of land, streets, ways, alleys, passages,
sewer rights, water, water courses, wells, well rights (including without limitation, shares of stock evidencing the same), ditch rights, water rights and powers, air rights and development rights, and all estates, rights, titles, interests,
privileges, liberties, tenements, hereditaments and appurtenances of any nature whatsoever, in any way belonging, relating or pertaining to the Land and the Improvements and the reversion and reversions, remainder and remainders, and all land lying
in the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Land, to the center line thereof and all the estates, rights, titles, interests, dower and rights of dower, curtesy and rights of curtesy, property,
possession, claim and demand whatsoever, both at law and in equity, of Grantor of, in and to the Land and the Improvements and every part and parcel thereof, with the appurtenances thereto; 

D. All agreements affecting the use, enjoyment or occupancy of the Land and/or Improvements now or hereafter entered into (the
“Leases”), including any and all guaranties of such Leases, and the immediate and continuing right to collect all rents, income, receipts, royalties, profits, issues, service reimbursements, fees, accounts receivables, revenues and
prepayments of any of the same from or related to the Land and/or Improvements from time to time accruing under the Leases and/or the operation of the Land and/or Improvements (the “Rents”), reserving to Grantor, however, so long as
no “Event of Default” (hereinafter defined) has occurred hereunder, a revocable license to receive and apply the Rents in accordance with the terms and conditions of Paragraph 13 of this Deed of Trust; 

E. The Personal Property; 

F. All awards or payments, including interest thereon, which may heretofore and hereafter be made with respect to the Land and the
Improvements, whether from the exercise of the right of eminent domain or condemnation (including but not limited to any transfer made in lieu of or in anticipation of the exercise of said rights), or for a change of grade, or for any other injury
to or decrease in the value of the Land and Improvements; 
 G. All proceeds of and any unearned premiums on any insurance
policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property; 

H. All proceeds of the conversion, voluntary or involuntary, of any of the foregoing including, without limitation, proceeds of insurance
and condemnation awards, into cash or liquidation claims; and 
 I. Any and all proceeds and products of any of the foregoing
and any and all other security and collateral of any nature whatsoever, now or hereafter given for the repayment of the Indebtedness and the performance of Grantor’s obligations under the Loan Documents, including (without limitation) the
Replacement Reserve, the TI and Leasing Reserve, and all other escrows established with Beneficiary by Grantor. 
  

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 TO HAVE AND TO HOLD the Property and all parts thereof, together with the rents,
issues, profits and proceeds thereof, unto and to the use, benefit and advantage of Beneficiary, forever, in Trust, subject, however, to the terms, covenants, and conditions herein. 

At no time shall the principal amount of the Indebtedness, not including sums advanced in accordance herewith to protect the security of
this Deed of Trust, exceed two hundred percent (200%) of the original amount of the Note. 
 Grantor covenants and
agrees with Trustee and Beneficiary as follows: 
 1. Payment of Indebtedness; Performance of Obligations. Grantor
shall promptly pay when due the Indebtedness and shall promptly perform all Obligations. 
 2. Taxes and Other
Obligations. Grantor shall pay, when due, and before any interest, collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other charges and obligations, including charges and obligations for any present or
future repairs or improvements made on the Property, or for any other goods or services or utilities furnished to the Property, which may become a lien on or charge against the Property prior to this Deed of Trust, subject, however, to
Grantor’s right to contest such lien or charge upon the posting of security reasonably satisfactory to Beneficiary so long as such contest stays the enforcement or collection of such lien or charge. Should Grantor fail to make such payments,
Beneficiary may, at its option and at the expense of Grantor, pay the amounts due for the account of Grantor. Upon the request of Beneficiary, Grantor shall immediately furnish to Beneficiary all notices of amounts due and receipts evidencing
payment. Grantor shall promptly notify Beneficiary of any lien on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbrance. 

3. Reserves for Taxes/Insurance/Replacement Reserve/Tenant Improvements and Leasing Reserve. 

(a) Grantor shall pay to Beneficiary, at the time of and in addition to the monthly installments of principal and/or interest due under
the Note, a sum equal to 1/12 of the amount estimated by Beneficiary from time to time to be sufficient to enable Beneficiary to pay at least 30 days before they become due and payable, all taxes, assessments and other similar charges levied against
the Property. So long as no Event of Default exists hereunder, Beneficiary shall apply the sums so paid by Grantor to pay such tax items. These sums shall be commingled with the general funds of Beneficiary, and no interest shall be payable thereon
nor shall these sums constitute trust funds. If such amount on deposit with Beneficiary is insufficient to fully pay such tax items, Grantor shall, within 10 days following notice at any time from Beneficiary, deposit such additional sum as may be
required for the full payment of such tax items. Upon the Maturity Date, the moneys then remaining on deposit with Beneficiary or its agent shall, at Beneficiary’s option, be applied against the Indebtedness. The obligation of Grantor to pay
such tax items is not affected or modified by the provisions of this paragraph, however, provided no Event of Default has occurred, Beneficiary shall utilize the funds collected hereunder (but only to the extent of said funds) to pay the tax items
as they come due. 
  

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 (b) Grantor shall pay to Beneficiary, at the time of and in addition to the monthly
installments of principal and/or interest due under the Note, a sum equal to 1/12 of the amount estimated by Beneficiary from time to time to be sufficient to enable Beneficiary to pay at least 30 days before they become due and payable, all
insurance premiums due for the renewal of the coverage afforded by the insurance policies required hereunder upon the expiration thereof. So long as no Event of Default exists hereunder, Beneficiary shall apply the sums so paid by Grantor to pay
such insurance premiums. These sums shall be commingled with the general funds of Beneficiary, and no interest shall be payable thereon nor shall these sums constitute trust funds. If such amount on deposit with Beneficiary is insufficient to fully
pay such insurance premiums, Grantor shall, within 10 days following notice at any time from Beneficiary, deposit such additional sum as may be required for the full payment of such insurance premiums. Upon the Maturity Date, the moneys then
remaining on deposit with Beneficiary or its agent shall, at Beneficiary’s option, be applied against the Indebtedness. The obligation of Grantor to pay such insurance premiums is not affected or modified by the provisions of this paragraph,
however, provided no Event of Default has occurred, Beneficiary shall utilize the funds collected hereunder(but only to the extent of said funds) to pay the insurance premiums as they come due. 

(c) At the time of and in addition to the monthly installments of principal and/or interest due under the Note, Grantor shall pay to
Beneficiary the Replacement Reserve Monthly Payment (such payments shall be referred to as “Replacement Reserve”). Upon the occurrence and during the continuation of any Event of Default, Borrower shall resume making the Replacement
Reserve Monthly Payment without regard to the balance cap provided above. The Replacement Reserve may be commingled with the general funds of Beneficiary and no interest shall be payable thereon nor shall such Reserve constitute trust funds. The
funds contained in the Replacement Reserve shall be utilized by Grantor solely for capital improvements approved in advance by Beneficiary. Beneficiary shall reimburse Grantor from the Replacement Reserve for the actual cost of such approved capital
improvements upon Grantor’s providing Beneficiary with paid receipts, lien waivers, photographs and other documentation deemed necessary by Beneficiary with minimum draws of $10,000.00, which shall occur no more frequently than once per month.
Grantor hereby grants Beneficiary a security interest in the Replacement Reserve and shall execute any other documents and take any other actions necessary to provide Beneficiary with a perfected security interest in the Replacement Reserve. Upon
payment in full of the Indebtedness and provided no Event of Default has occurred which remains uncured, Beneficiary shall refund to Grantor any portion of the Replacement Reserve then on deposit with Beneficiary. 

(d) At the time of and in addition to the monthly installments of principal and/or interest due under the Note, Grantor shall pay to
Beneficiary monthly deposits in the amount of the TI and Leasing Reserve Monthly Payment for approved tenant improvements and leasing commissions (such payments shall be referred to as the “TI and Leasing Reserve”). Grantor shall
continue to make the TI and Leasing Reserve Monthly Payment until the balance of the TI and Leasing Reserve is at least $325,000.00. During such times during the term of the loan as the balance in the TI and Leasing Reserve is at least $325,000.00,
Grantor may cease making the TI and Leasing Reserve Payment. In the event that the balance of the TI and Leasing Reserve held by Beneficiary is subsequently reduced below $325,000.00 because of expenditures made hereunder, Grantor shall

  

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resume making the TI and Leasing Reserve Monthly Payment until the balance of the TI and Leasing Reserve is restored to at least $325,000.00. Upon the occurrence and during the continuation of
any Event of Default, Grantor shall resume making the TI and Leasing Reserve Monthly Payment without regard to the balance limitation provided above. The TI and Leasing Reserve, the TI and Leasing Reserve Monthly Payment and the $325,000.00 balance
limitation provided above may, at the discretion of Beneficiary, be increased from time to time during the term of the Loan based upon vacancy levels and scheduled lease expirations. The TI and Leasing Reserve may be commingled with the general
funds of Beneficiary and no interest shall be payable thereon nor shall such Reserve constitute trust funds. The funds contained in the TI and Leasing Reserve shall be utilized by Grantor solely for tenant improvements and leasing commissions
approved in advance by Beneficiary. Beneficiary shall reimburse Grantor from the TI and Leasing Reserve for the actual cost of such approved tenant improvements and leasing commissions upon Grantor’s providing Beneficiary with invoices, paid
receipts, lien waivers, photographs and other documentation deemed necessary by Beneficiary with minimum draws of $10,000.00, which shall occur no more frequently than once per month. Grantor hereby grants Beneficiary a security interest in the TI
and Leasing Reserve and shall execute any other documents and take any other actions necessary to provide Beneficiary with a perfected security interest in the TI and Leasing Reserve. Upon payment in full of the Indebtedness and provided no Event of
Default has occurred which remains uncured, Beneficiary shall refund to Grantor any portion of the TI and Leasing Reserve then on deposit with Beneficiary. 

(e) On the date hereof and in lieu of making the TI and Leasing Reserve Monthly Payment to Beneficiary on a monthly basis, Grantor shall
deliver to Beneficiary an unconditional, irrevocable letter of credit in the amount of $325,000.00 (the “LC Amount”)(the “TI Letter of Credit”) in such form, and issued by such financial institution, as shall be acceptable to
Beneficiary in its sole and absolute discretion. The TI Letter of Credit shall remain in place for the entire term of the Loan and shall serve as additional security for the Loan. Beneficiary may draw upon the TI Letter of Credit upon the occurrence
of an Event of Default and shall, inter alia (1) be in an amount of at least the LC Amount; (2) provide that it shall automatically renew, annually, unless written notice is received by Beneficiary at least sixty (60) days
prior to the then current expiration date; (3) permit a draw upon presentation of a draft accompanied by a statement signed by an individual purporting to be an officer of Beneficiary or its assignee stating that the beneficiary is entitled to
draw under the TI Letter of Credit because (A) there has been an Event of Default under the Loan Documents, (B) the TI Letter of Credit has not been renewed or extended at least sixty (60) days prior to its then current expiration
date, or (C) the Beneficiary has determined that tenant improvements or leasing commissions are not being conducted or timely paid. The determination to be made under the preceding subparagraphs (A) through (C) shall be made in the
sole discretion of the Beneficiary. Grantor hereby acknowledges that (1) the TI Letter of Credit shall at no time be construed to be held in trust or escrow, and (2) the proceeds of the TI Letter of Credit shall not be made available at
any time to Grantor in those circumstances that the TI and Leasing Reserve would otherwise be available to Grantor and shall be held as additional security for the Loan. The TI Letter of Credit shall be for an initial period of not less than one
(1) year and shall automatically renew annually, unless written notice is received by Beneficiary, within sixty (60) days of the expiration of the TI Letter of Credit, without any requirement of notice or demand by Beneficiary until the
Indebtedness is fully satisfied. Upon Beneficiary’s receipt of the sixty (60) day notice that the TI Letter of Credit will not be 

 

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automatically renewed, Grantor shall have five (5) business days from Beneficiary’s receipt of said notice to provide a replacement TI Letter of Credit in form and content acceptable to
Beneficiary and subject to the same terms and conditions herein relating to the initial TI Letter of Credit issued. In the event Grantor fails to provide an acceptable replacement TI Letter of Credit as set forth above, Beneficiary shall have the
unconditional right to draw against the entire amount of the TI Letter of Credit prior to the expiration thereof (“Draw Date”), the proceeds of which shall be held by Beneficiary as additional security for the Loan. The failure of the
issuing financial institution to honor a draw request of Beneficiary which complies with the draw requirements of the TI Letter of Credit shall constitute an Event of Default. Beneficiary shall have no obligation to return the TI Letter of Credit
until the Indebtedness is fully satisfied. The initial TI Letter of Credit and any replacement TI Letter of Credit shall be deemed to be the “TI Letter of Credit” unless the context otherwise indicates. Upon payment in full of the
Indebtedness and provided no Event of Default has occurred which remains uncured and further provided the TI Letter of Credit has not been drawn upon, Beneficiary shall return the TI Letter of Credit to Grantor. 

(f) Upon the occurrence of an Event of Default, Beneficiary may draw upon the TI Letter of Credit and may apply any amounts then held in
any of the Reserves described above to the payment of the Indebtedness in such order as Beneficiary may elect in its sole and absolute discretion. 

4. Use of Property. Unless required by applicable law, Grantor shall not permit changes in the use of any part of the
Property from the use existing at the time this Deed of Trust was executed, which use Grantor represents and warrants is limited to the Permitted Use and related uses. Grantor shall not initiate or acquiesce in a change in the zoning classification
of the Property without Beneficiary’s prior written consent. 
 5. Insurance and Condemnation. Grantor shall
keep the Improvements insured, and shall maintain during the entire term of this Deed of Trust general liability coverage and such other coverages requested by Beneficiary, by carrier(s), in amounts and in form at all times satisfactory to
Beneficiary, which carrier(s), amounts and form shall not be changed without the prior written consent of Beneficiary. All such policies of insurance shall be issued by insurers qualified under the laws of the state in which the Land is located,
duly authorized and licensed to transact business in such state and reflecting the Best’s Rating. Grantor shall maintain all coverages on the Property as are required by Beneficiary at the closing of the Loan, and all other coverages as may be
deemed necessary by Beneficiary from time to time during the term of the Loan. Unless Grantor provides Beneficiary with evidence of the insurance coverage required by this Grantor, Beneficiary may purchase insurance at Grantor’s expense to
protect Beneficiary’s interests in the Property and to maintain the insurance required by this Grantor. This insurance may, but need not, protect Grantor’s interests. The coverage purchased by Beneficiary may not pay any claim made by
Grantor or any claim that is made against Grantor in connection with the Property or any required insurance policy. Grantor may later cancel any insurance purchased by Beneficiary, but only after providing Beneficiary evidence that Grantor has
obtained insurance as required by this Grantor. If Beneficiary purchases insurance for the Property or insurance otherwise required by this Grantor, Grantor will be responsible for the costs of that insurance, including interest and other charges
imposed by Beneficiary in connection with the placement of the insurance, until the effective date of the 
  

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cancellation or expiration of the insurance. The costs of the insurance may be added to the Indebtedness. The costs of the insurance may be more than the cost of insurance Grantor is able to
obtain on its own. 
 In case of loss or damage by fire or other casualty, Grantor shall give immediate written notice thereof
to the insurance carrier(s) and to Beneficiary.     Beneficiary is authorized and empowered to make or file proofs of loss or damage (in each case only so long as such loss or damage is equal to or greater than $25,000.00) and to
settle and adjust any claim under insurance policies which insure against such risks, or to direct Grantor, in writing, to agree with the insurance carrier(s) on the amount to be paid in regard to such loss. 

Grantor shall immediately notify Beneficiary of any action or proceeding relating to any condemnation or other taking, whether direct or
indirect, of the Property, or part thereof, and Grantor shall appear in and prosecute any such action or proceeding unless otherwise directed by Beneficiary in writing. Grantor authorizes Beneficiary, at Beneficiary’s option, as
attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary’s or Grantor’s name, any action or proceeding relating to any condemnation or other taking of the Property, whether direct or indirect, and to settle or
compromise any claim in connection with such condemnation or other taking, provided such claim is for an amount equal to or greater than $25,000.00. The proceeds of any award, payment or claim for damages, direct or consequential, in connection with
any condemnation or other taking, whether direct or indirect, of the Property, or part thereof, or for conveyances in lieu of condemnation, are hereby assigned to and shall be paid to Beneficiary as further security for the payment of the
Indebtedness and performance of the Obligations. 
 Provided no Event of Default then exists hereunder, the net insurance
proceeds and net proceeds of any condemnation award (in each case after deducting only of Beneficiary’s reasonable costs and expenses, if any, in collecting the same) shall be made available for the restoration or repair of the Property if, in
Beneficiary’s sole judgment (a) restoration or repair and the continued operation of the Property is economically feasible, (b) the value of Beneficiary’s security is not reduced, (c) the loss or condemnation, as applicable,
does not occur in the 6-month period preceding the stated Maturity Date and Beneficiary’s independent consultant certifies that the restoration of the Property can be completed at least 90 days prior to the Maturity Date, and (d) Grantor
deposits with Beneficiary an amount, in cash, which Beneficiary, in its sole discretion, determines is necessary, in addition to the net insurance proceeds or net proceeds of any condemnation award, as applicable, to pay in full the cost of the
restoration or repair. Notwithstanding the foregoing, it shall be a condition precedent to any disbursement of insurance proceeds held by Beneficiary hereunder that Beneficiary shall have approved (x) all plans and specifications for any
proposed repair or restoration, (y) the construction schedule and (z) the architect’s and general contractor’s contract for all restoration that exceeds $25,000.00 in the aggregate. Beneficiary may establish other conditions it
deems reasonably necessary to assure the work is fully completed in a good and workmanlike manner free of all liens or claims by reason thereof. Grantor’s deposits made pursuant to this paragraph shall be used before the net insurance proceeds
or net proceeds of any condemnation award, as applicable, for such restoration or repair. If the net insurance proceeds or net proceeds of any condemnation award, as applicable, are made available for restoration or repair, such work

  

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shall be completed by Grantor in an expeditious and diligent fashion, and in compliance with all applicable laws, rules and regulations. At Beneficiary’s option, the net insurance proceeds
or net proceeds of any condemnation award, as applicable, shall be disbursed pursuant to a construction escrow acceptable to Beneficiary. If following the final payments for the completion of such restoration or repair there are any net insurance
proceeds or net proceeds of any condemnation award, as applicable, remaining, such proceeds shall be paid (i) to Grantor to the extent Grantor was required to make a deposit pursuant to this paragraph, (ii) then to Beneficiary to be
applied to the Indebtedness, whether or not due and payable until paid in full, and (iii) then to Grantor. If an Event of Default then exists, or any of the conditions set forth in subparagraphs (a) through (d) of this Paragraph 5
have not been met or satisfied, the net insurance proceeds or net proceeds of any condemnation award, as applicable, shall be applied to the Indebtedness, whether or not due and payable, with any excess paid to Grantor. 

6. Preservation and Maintenance of Property. Grantor (a) shall not commit waste or permit impairment or deterioration
of the Property; (b) shall not abandon the Property; (c) shall keep the Property in good repair and restore or repair promptly, in a good and workmanlike manner, all or any part of the Property to the equivalent of its original condition,
ordinary wear and tear excepted, or such other condition as Beneficiary may approve in writing, upon any damage or loss thereto, if net insurance proceeds are made available to cover in whole or in part the costs of such restoration or repair;
(d) shall comply with all laws, ordinances, regulations and requirements of any governmental body, and all requirements of any documents applicable to the Property; (e) shall provide for management of the Property by Grantor or by a
property manager satisfactory to Beneficiary pursuant to a contract in form and substance satisfactory to Beneficiary; (f) shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form
of management; (g) shall not install or permit to be installed on the Property any underground storage tank or above-ground storage tank without the written consent of Beneficiary; and (h) shall give notice in writing to Beneficiary of
and, unless otherwise directed in writing by Beneficiary, appear in and defend any action or proceeding purporting to affect the Property, the security granted by the Loan Documents or the rights or powers of Beneficiary and/or Trustee. Neither
Grantor nor any tenant or other person shall remove, demolish or alter any Improvement or any fixture, equipment, machinery or appliance in or on the Land and owned or leased by Grantor except when incident to the replacement of fixtures, equipment,
machinery and appliances with items of like kind. 
 7. Protection of Beneficiary’s Security; Leases. If
Grantor fails to pay the Indebtedness or perform the Obligations, or if any action or proceeding is commenced which affects the Property, Trustee or Beneficiary, at Beneficiary’s option, Beneficiary may make such appearances, disburse such sums
and take such action as Beneficiary deems necessary, in its sole discretion, to protect the Property or Beneficiary’s or Trustee’s respective interests herein, including entry upon the Property to make repairs and perform environmental
tests and studies. Any amounts disbursed by Beneficiary pursuant to this Paragraph 7 (including attorneys’ costs and expenses), with interest thereon at the “Default Rate” (defined in the Note) from the date of disbursement,
shall become additional Indebtedness of Grantor secured by the Loan Documents and shall be due and payable on demand. Nothing contained in this Paragraph 7 shall require Beneficiary to incur any expense or take any action hereunder.

  

 9 

 Grantor shall not be authorized to enter into any ground lease of the Property, without
Beneficiary’s prior written approval. Grantor shall not, without Beneficiary’s prior written consent, modify, amend, surrender or terminate any Lease, which approval shall not be unreasonably withheld or delayed. All Leases of space in the
Property shall be on the form of lease previously approved by Beneficiary with tenants and for a use acceptable to Beneficiary. All Leases of space in the Property executed or renewed after the date hereof must be approved by Beneficiary prior to
the execution thereof by Grantor. 
 Notwithstanding anything contained herein to the contrary, Grantor may enter into a
proposed Lease (including the amendment, renewal or extension of an existing Lease (“a Renewal Lease”)) without the prior written consent of Beneficiary, provided such proposed Lease or Renewal Lease (i) provides for rental rates and
terms comparable to existing local market rates and terms (taking into account the type and quality of the tenant) as of the date such Lease or Renewal Lease is executed by Grantor (unless, in the case of a Renewal Lease, the rent payable during
such renewal, or a formula or other method to compute such rent, is provided for in the original Lease), (ii) is an arms-length transaction with a bona fide, independent third party tenant, (iii) is written on the standard form of lease
previously approved by Beneficiary, (iv) is not for premises greater than or equal to ten percent (10%) of the gross leaseable area of the Property, (v) is not for a rental, or greater than or equal to ten percent (10%) of the
total gross rental revenues of the Property; (vi) shall have an initial term of not less than three (3) years or greater than ten (10) years, (vii) is for the same use as the current use of the Property, (viii) shall not
contain any options for renewal or expansion by the tenant thereunder at rental rates which are either below comparable market levels or less than the rental rates paid by the tenant during initial lease term; and (ix) shall be to a tenant
which is experienced, creditworthy and reputable. If Beneficiary consents to any new Lease of space in the Property or the renewal of any existing Lease of space in the Property, at Beneficiary’s request, Grantor shall cause the tenant
thereunder to execute a subordination and attornment agreement in form and substance satisfactory to Beneficiary contemporaneously with the execution of such Lease. Grantor expressly understands that any and all new or proposed leases or Renewal
Leases are included in the definition of “Lease” or “Leases” as such terms may be used throughout this Deed of Trust or any of the other Loan Documents. 

8. Inspection. Beneficiary and its agents and designees may make or cause to be made reasonable entries upon and
inspections of the Property, including for performing any environmental inspections and testing of the Property, and inspections of Grantor’s books, records, and contracts at all reasonable times upon reasonable advance notice, which notice may
be given in writing or orally. Grantor shall cooperate with Beneficiary and its agents and designees with respect to all such inspections, including any related to the sale or potential sale of all or any portion of the Loan by Beneficiary and any
securitization or potential securitization involving the Loan. 
 9. Books and Records. Grantor shall keep and
maintain at all times at Grantor’s address stated above, or such other place as Beneficiary may approve in writing, complete and accurate books of accounts and records adequate to reflect correctly the results of the operation of the Property
and copies of all written contracts, Leases and other instruments affecting the Property. 
  

 10 

 10. Financial Statements. Grantor shall furnish to Beneficiary, within 15 days
after the end of each calendar month until the later of (i) the first 12 calendar months following the closing of the loan (the “Loan”) evidenced by the Note, or (ii) the Loan is securitized as described in Section 44 below,
a monthly unaudited statement of income and expenses and a rent roll in the format of subclause (a) below, each in reasonable detail and dated and certified as true and complete by Grantor or its general partner, managing member or chief
financial officer. Grantor shall furnish to Beneficiary, within 45 days after the end of each fiscal quarter of the operation of the business of Grantor and at any other time upon Beneficiary’s request, a balance sheet and a statement of income
and expenses of the Property, each in reasonable detail, prepared in accordance with generally accepted accounting principles and certified as true and complete by Grantor or its general partner, manager or chief financial officer. Grantor shall
also furnish to Beneficiary, and shall cause each Principal to furnish to Beneficiary, within 60 days after the end of each fiscal year of Grantor, a balance sheet, a statement of income and expenses and a statement of cash flows, each in reasonable
detail, prepared in accordance with generally accepted accounting principles and certified as true and complete by Grantor or its partner/managing member or chief financial officer and each Principal, as the case may be. Grantor shall furnish,
together with the foregoing quarterly financial statements and at any other time upon Beneficiary’s request (a) a rent schedule for the Property, showing the name of each tenant, and for each tenant, the space occupied, the lease
expiration date, the rent payable, the rent paid to date, and the security deposit being held for such tenant, (b) a leasing activity report for the Property during such fiscal quarter, (c) a capital expenditure report indicating the type
and amount of each capital expenditure made during such fiscal quarter, and (d) any other information that Beneficiary may reasonably require, all of the foregoing shall be certified as true and complete by Grantor or its general partner,
manager or chief financial officer. In addition, Grantor shall cause each Principal to provide to Beneficiary a copy of his/her/its financial statements prepared in accordance with generally accepted accounting principles, certified by such
Principal to be a true and complete copy of such financial statements and in form reasonably satisfactory to Beneficiary, within 60 days of the end of the calendar year. All of the information required by Beneficiary in this paragraph must be
acceptable to Beneficiary in its absolute and sole discretion. If Grantor fails to timely furnish Beneficiary with any of the financial information and reports set forth in this paragraph within the required time periods, Beneficiary shall have the
right, acting in its sole discretion, to hire a certified public accounting firm acceptable to Beneficiary, to prepare such financial information and reports, on an audited basis. The costs and expenses of such accounting firm shall be paid by
Grantor on demand and, to the extent advanced by Beneficiary become, with interest thereon from the date advanced by Beneficiary at the Default Rate, additional Indebtedness of Grantor secured by the Loan Documents. Additionally, if Grantor fails to
timely furnish Beneficiary with any of the financial information and reports set forth in this paragraph within the required time periods, Beneficiary shall be entitled to receive a late charge equal to $500.00 for each financial information and/or
report not so furnished to Beneficiary (the “Financial Late Charge”). The Financial Late Charge shall be due and payable by Grantor immediately upon receipt by Grantor of an invoice for same from Beneficiary. Until paid, the
Financial Late Charge shall bear interest at the Default Rate, and shall be deemed additional Indebtedness of Grantor secured by the Loan Documents. 

11. Hazardous Materials. Grantor covenants and agrees that it (a) shall not use, generate, store, or allow to be
generated, stored or used, any “Hazardous Materials” (hereinafter 
  

 11 

 
defined) on the Property, except in the ordinary course of Grantor’s business and in accordance with all “Environmental Laws” (hereinafter defined), (b) shall at all times
maintain the Property in full compliance with all applicable Environmental Laws, including timely remediating the Property if and when required, and (c) shall cause compliance by all tenants and sub-tenants on the Property with Grantor’s
covenants and agreements contained in this Paragraph 11. Grantor shall promptly notify Beneficiary in writing of (i) any investigation, claim or other proceeding by any party caused or threatened in connection with any Hazardous
Materials on the Property, or the failure or alleged failure of the Property to comply with any applicable Environmental Laws, or (ii) Grantor’s discovery of any condition on or in the vicinity of the Property to fail to comply with
applicable Environmental Laws. 
 The term “Environmental Laws” shall include any present and
future federal, state and/or local law, statute, ordinance, code, rule, regulation, license, authorization, decision, order, injunction or decree and/or other governmental directive or requirement, as well as common law, which pertains or relates to
health, safety or the environment (including but not limited to, ground or air or water or noise pollution or contamination, and underground or above ground tanks) and shall include, without limitation, the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended (“CERCLA”), the Resource Conservation and Recovery Act of 1976, as amended (“RCRA”), and any state or federal lien or superlien or environmental clean-up statutes, and
regulations, rules, guidelines, or standards promulgated pursuant thereto all as amended from time to time. The term “Hazardous Materials” shall include any substance, whether solid, liquid or gaseous:
(i) which is listed, defined or regulated as a “hazardous substance,” “hazardous waste” or “solid waste,” or otherwise classified as hazardous or toxic, in or pursuant to any Environmental Laws; or (ii) which is or
contains asbestos, radon, any polychlorinated biphenyl, urea formaldehyde foam insulation, explosive or radioactive material, lead paint, or motor fuel or other petroleum hydrocarbons; or (iii) which causes or poses a threat to cause a
contamination or nuisance on the Property or any adjacent property or a hazard to the environment or to the health or safety of persons on or about the Property. 

12. Representations and Covenants. 

(a) If Grantor is a corporation, it represents that it is a corporation duly organized existing and in good standing under the laws of
its state of incorporation, that it is duly qualified and in good standing under the laws of the state where the Land is located, and that the execution and delivery of the Loan Documents and the performance of the obligations thereunder are within
Grantor’s corporate powers, have been duly authorized by all necessary action of its board of directors, and do not contravene the terms of its articles of incorporation or by-laws. 

(b) If Grantor is a general or limited partnership or a limited liability company, it represents that it is duly formed, organized and
existing in the state of its formation, that it is qualified to do business under the laws of the state where the Land is located, and that the execution and delivery of the Loan Documents and the performance of the obligations thereunder do not
conflict with any provision of Grantor’s partnership agreement or operating agreement, as applicable, and all other certificates and agreements governing Grantor, and have been duly authorized by all necessary action of its partners or members.

  

 12 

 (c) Grantor represents that (i) the execution and delivery of the Loan Documents, the
payment of the Indebtedness, and the performance of the Obligations do not violate any law or conflict with any agreement by which Grantor is bound, or any court order by which Grantor is bound, (ii) no consent or approval of any governmental
authority or any third party is required for the execution or delivery of the Loan Documents, the payment of Indebtedness, and the performance of the Obligations, and (iii) the Loan Documents are valid and binding agreements, enforceable in
accordance with their terms. 
 (d) Grantor represents that (i) it is lawfully seized with fee simple title in the estate
hereby conveyed; (ii) it has the right to mortgage, convey, assign and grant a first security interest in the Property; (iii) the Property is unencumbered, and Grantor will warrant and defend title to the Property against all claims and
demands, subject to easements and restrictions listed in a schedule of exceptions to coverage in the title insurance policy accepted by Beneficiary insuring Trustee’s and Beneficiary’s respective interests in the Property; and (iv) it
has no operations, assets or activities other than the Property. 
 (e) Grantor represents and covenants that (i) all
material permits, approvals, and certificates, including certificates of completion and occupancy permits, required by law or regulation have been obtained and are and shall remain in full force and effect; and (ii) the use and occupancy of the
Land and all improvements thereon are and shall remain in compliance with all laws. 
 (f) Grantor represents that all of the
improvements on the Land lie wholly within the boundaries of and building line restrictions relating to the Land and no improvements located on adjoining lands encroach upon the Land so as to effect the value or marketability of the Property, except
those which are insured against by the title insurance policy accepted by Beneficiary insuring Trustee’s and Beneficiary’s respective interests in the Property. 

(g) Grantor represents that the Property is served by public utilities and services in the surrounding community, including police and
fire protection, public transportation, refuse removal, public education, and enforcement of safety codes which are adequate in relation to the premises and location on which the Property is located. 

(h) Grantor represents that the Property is serviced by public water and sewer systems which are adequate in relation of the improvements
and location on which the Property is located. All liquid and solid waste disposal, septic and sewer systems located on the Property are in good and safe condition and repair and in compliance with all applicable laws. 

(i) Grantor represents that the Property has parking and other amenities necessary for the operation of the business currently conducted
thereon which are adequate in relation to the premises and location on which the Property is located. 
 (j) Grantor represents
that the Property is a contiguous parcel and a separate tax parcel, and there are no delinquent taxes or other outstanding charges adversely affecting the Property. 

 

 13 

 (k) Grantor represents that no action, omission, misrepresentation, negligence, fraud or
similar occurrence has taken place on the part of any person that would reasonably be expected to result in the failure or impairment of full and timely coverage under any insurance policies providing coverage for the Property. 

(l) None of Grantor, any Principal, or any other holder of a direct or indirect legal or beneficial interest in Grantor is or will be,
held, directly or indirectly, by a “foreign corporation,” “foreign partnership,” “foreign trust,” “foreign estate,” “foreign person,” “affiliate” of a “foreign person” or a
“United States intermediary” of a “foreign person” within the meaning of IRC Sections 897 and 1445, the Foreign Investments in Real Property Tax Act of 1980, the International Foreign Investment Survey Act of 1976, the
Agricultural Foreign Investment Disclosure Act of 1978, the regulations promulgated pursuant to such acts or any amendments to such acts. 

(m) None of Grantor or any Principal is insolvent, and there has been no (i) assignment made for the benefit of the creditors of any
of them, (ii) appointment of a receiver for any of them or for the properties of any of them, or (iii) any bankruptcy, reorganization, or liquidation proceeding instituted by or against any of them. 

(n) All information in the application for the Loan submitted to Beneficiary (the “Loan Application”) and in all financial
statements, rent rolls, reports, certificates and other documents submitted in connection with the Loan Application or in satisfaction of the terms thereof, are accurate, complete and correct in all respects. There has been no adverse change in the
representations made or information heretofore supplied by or on behalf of Grantor or any Principal in connection with the Loan or the Loan Application as to Grantor, any Principal, or the Property. There has been no adverse change in any condition,
fact, circumstance or event that would make any such representations or information inaccurate, incomplete or otherwise misleading. 

(o) Except as listed on Exhibit C hereto, there is no litigation, arbitration, or other proceeding or governmental investigation
pending or, to Grantor’s knowledge, threatened against or relating to Grantor, any Principal, or the Property. 
 (p) The
proceeds evidenced by the Note will be used by Grantor solely and exclusively for lawful business purposes and will not be used for the purchase or carrying of registered equity securities within the purview and operation of any regulation issued by
the Board of Governors of the Federal Reserve System or for the purpose of releasing or retiring any indebtedness which was originally incurred for any such purpose. 

(q) Grantor represents and covenants that all Leases of space in the Property existing as of the date hereof are in writing. 

(r) Grantor covenants that Beneficiary shall be allowed to advertise in the various news or financial media that Beneficiary has provided
the Loan to Grantor. 
  

 14 

 (s) Grantor represents and covenants that it does not have and will not incur any other
indebtedness other than (i) the Indebtedness, and (ii) trade payables incurred in the ordinary course of business. 

(t) Grantor represents that Grantor and all Principals have filed all federal, state, county, municipal, and city income and other tax
returns required to have been filed by them and have paid all taxes and related liabilities which have become due pursuant to such returns or pursuant to any assessments received by them. Neither Grantor nor any Principal knows of any basis for any
additional assessment in respect to any such taxes and related liabilities for prior years. Grantor confirms that its federal tax identification number is 84-1604652. 

(u) Grantor covenants that if at any time the United States of America, any State thereof or any subdivision of any such State shall
require revenue or other stamps to be affixed to the Note or this Deed of Trust, or impose any other tax or charge on the same, Grantor will pay for the same, with interest and penalties thereon, if any. 

Except as otherwise provided herein, each and all of the representations, covenants and obligations of Grantor shall survive the execution and delivery
of the Loan Documents and shall continue in full force and effect until the Indebtedness is paid in full. 
 13. Lease
Assignment. Grantor acknowledges that, concurrently herewith Grantor is delivering to Beneficiary, as additional security for the repayment of the Loan, an Assignment of Leases and Rents (the “Assignment”) pursuant to which Grantor
has assigned to Beneficiary all of Grantor’s right, title and interest in the Leases and the Rents and income from the Premises. All of the provisions of the Assignment are hereby incorporated herein as if fully set forth at length in the text
of this Deed of Trust. Grantor agrees to abide by all of the provisions of the Assignment. 
 14. Subordination,
Non-Disturbance and Attornment Agreements/Estoppel Certificates. 
 (a) Grantor shall, within 10 days after
Beneficiary’s request, furnish Beneficiary with a written statement, duly acknowledged, setting forth the sums secured by the Loan Documents and any right of set-off, counterclaim or other defense which exists against such sums and the
Obligations. 
 (b) If the Property includes commercial property, Grantor shall deliver to Beneficiary upon request, tenant
subordination, non-disturbance and attornment agreements/estoppel certificates from each commercial tenant at the Property in form and substance reasonably satisfactory to Beneficiary provided that Grantor shall not be required to deliver such
certificates more frequently than two (2) times in any calendar year. 
  

 15 

 15. Transfers of the Property or Ownership Interests in Grantor; Assumption; Due on
Sale/Encumbrance. 
 (a) No Sale/Encumbrance. Grantor agrees that Grantor shall not, without the prior written
consent of Beneficiary, sell, convey, mortgage, grant, bargain, encumber, pledge, assign, or otherwise transfer the Property or any interest therein any part thereof or permit the Property or any part thereof to be sold, conveyed, mortgaged,
granted, bargained, encumbered, pledged, assigned, or otherwise transferred except for: (i) pursuant to Leases of space in the Property to tenants in accordance with the provisions of Paragraph 7; (ii) in connection with a
condemnation action or other taking; or (iii) the disposal of personalty that is obsolete or no longer used or useful, so long as such personalty is replaced with similar items of comparable value and utility and in which Beneficiary has a
first lien and Deed of Trust. 
 (b) Sale/Encumbrance Defined. A sale, conveyance, mortgage, grant, bargain, encumbrance,
pledge, assignment, or transfer of the Property within the meaning of this Paragraph 15 shall be deemed to include, but not limited to the following: (i) an installment sales agreement wherein Grantor agrees to sell the Property or any
part thereof for a price to be paid in installments; (ii) an agreement by Grantor leasing all or a substantial part of the Property for other than actual occupancy by a space tenant thereunder or a sale, assignment or other transfer of, or the
grant of a security interest in, Grantor’s right, title and interest in and to any Leases or any Rents; (iii) a sale or transfer of the ownership interests (including beneficial interests) of any Principal in Grantor that would result in
any Principal owning directly or indirectly less than 25% of the total ownership interests (including beneficial interests) in Grantor; or (iv) if Edward M. Warner fails to continue to make the day-to-day decisions for Grantor’s business
or if Edward M. Warner’s consent is no longer required for all material decisions (for purposes of this Paragraph 15 the foregoing shall be deemed to constitute “control”). 

(c) Assumption. Notwithstanding the foregoing provisions of this Paragraph 15, a sale of the Property and assumption of
this Loan (hereinafter, an “Assumption”) in its entirety prohibited by the foregoing may be permitted no more than once during the term of the Note to any person or entity, subject to Beneficiary’s prior written consent, which
shall not be unreasonably withheld or delayed, provided that each of the following terms and conditions are satisfied: 

(i) no default has occurred and is then continuing hereunder or under any of the Loan Documents; 

(ii) Grantor gives Beneficiary written notice of the terms of such prospective Assumption not less than sixty
(60) days before the date on which such Assumption is scheduled to take place and, concurrently therewith, gives Beneficiary all such information concerning the proposed transferee of the Loan (hereinafter, a “Transferee”) as
Beneficiary would reasonably require in evaluating an initial extension of credit to a borrower on a non-recourse basis. Beneficiary shall have the right to approve or disapprove the proposed Transferee. In determining whether to give or withhold
its approval of the proposed Transferee, Beneficiary shall consider the Transferee’s experience in owning and operating a facility similar to the Property, the Transferee’s entity structure, the Transferee’s financial strength, the
Transferee’s general business standing and the Transferee’s relationships and 
  

 16 

 
experience with contractors, vendors, tenants, lenders and other business entities; provided, however, that notwithstanding Beneficiary’s agreement to consider the foregoing factors in
determining whether to give or withhold such approval, such approval shall be given or withheld based upon what Beneficiary determines to be commercially reasonable in Beneficiary’s sole discretion and, if given, may be given subject to such
conditions as Beneficiary may deem appropriate, but no such conditions shall result in an increase in the interest rate or monthly payment under the Note or reduce the term thereof; 

(iii) Grantor shall pay Beneficiary (A) in connection with such proposed Assumption, all reasonable out-of-pocket
costs and expenses, including, without limitation, reasonable attorneys’ fees incurred by Beneficiary, plus (B) concurrently with the closing of such Assumption, a nonrefundable assumption fee in an amount equal to 1% of the then
outstanding principal balance of the Note at the time of such Assumption; 
 (iv) the Transferee assumes and
agrees to pay the Indebtedness and perform the Obligations secured hereby subject to Paragraph 11 of the Note, and prior to or concurrently with the closing of such Assumption, the Transferee executes, without any cost or expense to
Beneficiary, such documents and agreements as Beneficiary shall reasonably require to evidence and effectuate said assumption and deliver such legal opinions as Beneficiary may reasonably require; 

(v) Transferee executes, without any cost or expense to Beneficiary, new financing statements or financing statement
amendments and any additional documents reasonably requested by Beneficiary; 
 (vi) Grantor delivers to
Beneficiary, without any cost or expense to Beneficiary, hazard insurance endorsements or certificates and other similar materials as Beneficiary may deem necessary at the time of the Assumption, all in form and substance satisfactory to
Beneficiary, including without limitation, an endorsement or endorsements to Beneficiary’s loan title insurance policy insuring the lien of this Deed of Trust, extending the effective date of such policy to the date of execution and delivery of
the assumption agreement referenced above in subparagraph 15(c)(iv), with no additional exceptions added to such policy, except for items consented to by Beneficiary or permitted under this Deed of Trust, and insuring that fee simple title to
the Property is vested in the Transferee; 
 (vii) Grantor executes and delivers to Beneficiary without any cost
or expense to Beneficiary, a release of Beneficiary, its officers, directors, employees and agents, from all claims and liability relating to the transactions evidenced by the other security documents through and including the date of the closing of
the Assumption, which agreement shall be in form and substance satisfactory to Beneficiary and shall be binding upon the Transferee; 

(viii) subject to the provisions of Paragraph 11 of the Note, such Assumption is not construed so as to relieve Grantor
of any personal liability under the Note or any of the Loan Documents for any act or events occurring or obligations arising prior to or simultaneously with the closing of such Assumption (excluding payment of the principal amount of the Note and
interest accrued thereon) and Grantor executes, without any cost or expense to 
  

 17 

 
Beneficiary, such documents and agreements as Beneficiary shall reasonably require to evidence and effectuate the ratification of such personal liability; 

(ix) such Assumption is not construed as to relieve any current Guarantors or Indemnitors (as defined in the Loan
Documents) of their obligations under any guarantees or indemnity agreements executed in connection with the Note, and each such current Guarantors or Indemnitors execute, without any cost or expense to Beneficiary, such documents and agreements as
Beneficiary shall reasonably require to evidence and effectuate the ratification of each such guarantee and indemnity agreement, provided that if the Transferee or a party associated with the Transferee approved by the Beneficiary in its sole
discretion assumes the obligations of the current Guarantors and Indemnitors under their guarantees or indemnity agreements and the Transferee or such party associated with the Transferee if applicable, executes, without any cost or expense to
Beneficiary, a new guarantee and/or indemnity agreement in form and substance satisfactory to Beneficiary, then Beneficiary shall release the current Guarantors or Indemnitors from all obligations first arising under their guarantees or indemnity
agreements after the closing of such Assumption; 
 (x) The Transferee shall furnish, if the Transferee is a
corporation, partnership or other entity, all appropriate papers evidencing the Transferee’s capacity in good standing and the qualification of the signers to execute the assumption of the Obligations, which paper shall include certified copies
of all documents relating to the organization and formation of the Transferee and of the entities, if any, which are partners, members or shareholders of the Transferee. The Transferee and such constituent partners, members or shareholders of the
Transferee (as the case may be) as Beneficiary shall require, shall be single purpose, bankruptcy remote entities, whose formation documents shall be approved by counsel to Beneficiary. An individual recommended by Transferee and approved by
Beneficiary shall serve as an independent director of the Transferee (if the Transferee is a corporation) or the Transferee’s corporate general partner or an independent member or in Beneficiary’s discretion, manager of Transferee, if the
Transferee is a limited liability company. The consent of such independent parties shall be required for, among other things, any merger, consolidation, dissolution, bankruptcy or insolvency of such independent party or of the Transferee;

 (xi) the Transferee shall assume the obligations of Grantor under the management agreements, if any,
pertaining to the Property; 
 (xii) the Transferee shall furnish an opinion of counsel satisfactory to
Beneficiary and its counsel stating that (A) the Transferee’s formation documents provide proof for the matters described in subparagraph (x) above, (B) the assets of the Grantor will not be consolidated with the assets of any
other entity having an interest in, or affiliation with, the Transferee, in the event of a bankruptcy or insolvency of any such entity (C) the assumption of the Obligations has been duly authorized, executed and delivered and the Loan Documents
are valid, binding and enforceable against the Transferee in accordance with their terms, (D) the Transferee and any entity which is a controlling stockholder, general partner or managing member of the Transferee have been duly organized and
are in good standing and in existence, and (E) with respect to such other matters as Beneficiary may request; and 
  

 18 

 (xiii) if the Loan has previously been securitized pursuant to Paragraph 44
Beneficiary shall have received evidence in writing from the rating agencies to the effect the proposed transfer will not result in a downgrade, qualification reduction or withdrawal or any rating initially assigned or to be assigned in a Secondary
Market Transaction. For purposes hereof, a “Secondary Market Transaction” shall be (i) any sale of the Deed of Trust, Note and Loan Documents to one or more investors as a whole loan; (ii) a participation of the Note to one or
more investors; (iii) any deposit of this Deed of Trust, Note and Loan Documents with a trust or other entity which may sell certificates or other instruments to investors evidencing an ownership interest in the assets of such trust or other
entity, or (iv) any other sale or transfer of the Note or any interest therein to one or more investors. 
 (d)
Beneficiary’s Rights. Except as provided in subparagraph 15(c) above, Beneficiary reserves the right to condition the consent required hereunder upon a modification of the terms hereof and on assumption of the Note, this Deed of Trust
and the other Loan Documents as so modified by the proposed transferee, payment of an assumption fee, and all of Beneficiary’s expenses incurred in connection with such transfer, the approval by a rating agency of the proposed transferee, the
proposed transferee’s continued compliance with the covenants set forth in this Deed of Trust, including, without limitation, the covenants contained in Paragraph 17, or such other conditions as Beneficiary shall determine in its sole
discretion to be in the interest of Beneficiary. All of Beneficiary’s out-of-pocket expenses incurred shall be payable by Grantor whether or not Beneficiary consents to the Assumption. Beneficiary shall not be required to demonstrate any actual
impairment of its security or any increased risk of default hereunder in order to declare the Note immediately due and payable upon Grantor’s prohibited sale, conveyance, mortgage, grant, bargain, encumbrance, pledge, assignment, or transfer of
the Property without Beneficiary’s consent. This provision shall apply to every sale, conveyance, mortgage, grant, bargain, encumbrance, pledge, assignment, or transfer of the Property regardless of whether voluntary or not, or whether or not
Beneficiary has consented to any previous sale, conveyance, mortgage, grant, bargain, encumbrance, pledge, assignment, or transfer of the Property. 

(e) Transfers of Tenants-in-Common Fee interest in the Property to CSU Entity. Notwithstanding the provisions and limitations
contained in Sections 15(a)-(d), the Grantor may convey in one or more separate transactions tenants-in-common fee interests in the Property to CSUF/ATRIUM I, LLC, a Colorado limited liability company (the “CSU Entity”), provided all of
the following conditions are satisfied(each such transaction hereinafter referred to as a CSU Transaction”) for each and every CSU Transaction to the satisfaction of Beneficiary: 

 

	 	(i)	no Event of Default has occurred and is then continuing hereunder or under any of the Loan Documents; 

 

	 	(ii)	Grantor gives Beneficiary written notice of the terms of any prospective CSU Transaction not less than sixty (60) days before the date on which any CSU Transaction
is scheduled to take place and, concurrently therewith, gives Beneficiary all information which beneficiary deems reasonable necessary to describe the proposed CSU Transaction and to confirm the Borrower’s compliance with the conditions
contained in this section 15(e). 

  

 19 

	 	(iii)	Grantor shall pay Beneficiary (A) in connection with each and every proposed CSU Transaction, all reasonable out-of-pocket costs and expenses, including, without
limitation, reasonable attorneys’ fees incurred by Beneficiary, plus (B) concurrently with the closing of the first CSU Transaction, a nonrefundable assumption fee in an amount equal to one-half of one percent(.5%) of the then outstanding
principal balance of the Note at the time of such first CSU Transaction and for each and every subsequent CSU Transaction(except a CSU Transaction resulting in a CSU Control Event, the fee for which shall be governed by section 15(e)(II) below) a
nonrefundable assumption fee in an amount equal to $10,000.00; 

  

	 	(iv)	the CSU Entity assumes and agrees to pay the Indebtedness and perform the Obligations secured hereby subject to Paragraph 11 of the Note, and prior to or
concurrently with the closing of each and every CSU Transaction, the CSU Entity executes, without any cost or expense to Beneficiary, such documents and agreements as Beneficiary shall reasonably require to evidence and effectuate each such CSU
Transaction and deliver such legal opinions as Beneficiary may reasonably require including but not limited to a REMIC or Non-Consolidation opinion from counsel acceptable to Beneficiary; 

 

	 	(v)	the CSU Entity executes, without any cost or expense to Beneficiary, new financing statements or financing statement amendments and any additional documents reasonably
requested by Beneficiary; 

  

	 	(vi)	Grantor delivers to Beneficiary, without any cost or expense to Beneficiary, hazard insurance endorsements or certificates and other similar materials as Beneficiary
may deem necessary at the time of the CSU Transaction, all in form and substance satisfactory to Beneficiary, including without limitation, an endorsement or endorsements to Beneficiary’s loan title insurance policy insuring the lien of this
Deed of Trust, extending the effective date of such policy to the date of execution and delivery of the assumption agreement referenced above in subparagraph 15(e)(iv), with no additional exceptions added to such policy, except
for items consented to by Beneficiary or permitted under this Deed of Trust, and insuring that fee simple title to the Property is vested in the Grantor and/or the CSU Entity; 

 

	 	(vii)	Grantor executes and delivers to Beneficiary without any cost or expense to Beneficiary, a release of Beneficiary, its officers, directors, employees and agents, from
all claims and liability relating to the transactions evidenced by the other security documents through and including the date of the closing of the CSU Transaction, which agreement shall be in form and substance satisfactory to Beneficiary and
shall be binding upon the Grantor and the CSU Entity; 

  

	 	(viii)	subject to the provisions of Paragraph 11 of the Note, such CSU Transaction is not construed so as to relieve Grantor of any personal liability under the Note or any of
the Loan Documents and Grantor executes, without any cost or expense to Beneficiary, such documents and agreements as Beneficiary shall reasonably require to evidence and effectuate the ratification of such personal liability;

  

 20 

	 	(ix)	such CSU Transaction(s) is not construed as to relieve any Guarantors or Indemnitors (as defined in the Loan Documents) of their obligations under any guarantees or
indemnity agreements executed in connection with the Note, and each such current Guarantors or Indemnitors execute, without any cost or expense to Beneficiary, such documents and agreements as Beneficiary shall reasonably require to evidence and
effectuate the ratification of each such guarantee and indemnity agreement; 

  

	 	(x)	The CSU Entity shall furnish, if the CSU Entity is a corporation, partnership or other entity, all appropriate papers evidencing the CSU Entity’s capacity in good
standing and the qualification of the signers to execute the assumption of the Obligations, which paper shall include certified copies of all documents relating to the organization and formation of the CSU Entity and of the entities, if any, which
are partners, members or shareholders of the CSU Entity. The CSU Entity and such constituent partners, members or shareholders of the CSU Entity (as the case may be) as Beneficiary shall require shall, (A) comply with all terms and conditions
of Section 17 hereof and shall be single purpose, bankruptcy remote entities, whose formation documents shall be approved by counsel to Beneficiary, and (B) be controlled directly or indirectly by the Board of Directors of the Colorado
State University Foundation. 

  

	 	(xi)	the CSU Entity shall, jointly and severally with Grantor, assume the obligations of Grantor under the management agreements, if any, pertaining to the Property;

  

	 	(xii)	the CSU Entity shall furnish an opinion of counsel satisfactory to Beneficiary and its counsel stating that (A) the CSU Entity’s formation documents provide
proof for the matters described in subparagraph (x) above, (B) the assets of the Grantor and the CSU Entity will not be consolidated with the assets of any other entity having an interest in, or affiliation with, the CSU Entity, in the
event of a bankruptcy or insolvency of any such entity (C) the assumption of the Obligations has been duly authorized, executed and delivered and the Loan Documents are valid, binding and enforceable against the CSU Entity and/or the Grantor in
accordance with their terms, (D) the CSU Entity and any entity which is a controlling stockholder, general partner or managing member of the CSU Entity have been duly organized and are in good standing and in existence, and (E) with
respect to such other matters as Beneficiary may request; 

  

	 	(xiii)	if any proposed CSU Transaction will result in, (A) the CSU Entity directly or indirectly owning 75% or more of the Property, or (B) Edward M. Warner failing
to continue to make the day-to-day decisions for Grantor’s business and Edward M. Warner’s consent no longer being required for all material decisions of Grantor (each a CSU Control Event”), Grantor and the CSU Entity shall also
comply with the CSU Control Requirements, as such term is defined below, for each CSU Control Event; 

  

	 	(xiv)	any proposed CSU Transaction shall be closed and completed prior to eighteen(l8) months before the Maturity Date, as such term is defined in the Note and no more than
one(1) CSU Transaction may occur in any calendar year; 

  

 21 

	 	(xv)	prior to the first CSU Transaction, Grantor and the CSU Entity execute and record the Tenants-in-Common Agreement substantially in the form annexed hereto as Exhibit D
and prior to each subsequent CSU Transaction, Grantor and the CSU Entity reaffirm their obligations under such Tenants-in-Common Agreement; and 

  

	 	(xvi)	prior to a CSU Control Event, Edward M. Warner continues to make the day-to-day decisions for Grantor’s business and Edward M. Warner’s consent is required
for all material decisions of Grantor. 

 For the purpose hereof, the term CSU Control Requirements shall be
deemed to mean the following additional requirements which shall apply to any CSU Transaction which will result in a CSU Control Event: 

(I) Beneficiary shall have the right to approve or disapprove any CSU Transaction that will result in a CSU Control Event in its sole and
absolute discretion. In determining whether to give or withhold its approval of the proposed CSU Transaction, Beneficiary shall consider the CSU Entities’ experience in owning and operating a facility similar to the Property, the CSU
Entity’s entity structure, the CSU Entity’s financial strength, the CSU Entity’s general business standing and the CSU Entity’s relationships and experience with contractors, vendors, tenants, lenders and other business entities;
provided, however, that notwithstanding Beneficiary’s agreement to consider the foregoing factors in determining whether to give or withhold such approval, such approval shall be given or withheld based upon what Beneficiary determines to be
commercially reasonable in Beneficiary’s sole discretion and, if given, may be given subject to such conditions as Beneficiary may deem appropriate, but no such conditions shall result in an increase in the interest rate or monthly payment
under the Note or reduce the term thereof; 
 (II) The assumption fee provided by Section 15(e)(iii) for any CSU
Transaction that will result in a CSU Control Event shall be an amount equal to 1% of the then outstanding principal balance of the Note at the time of such CSU Control Event; and 

(III) If the Loan has previously been securitized pursuant to Paragraph 44 Beneficiary shall have received evidence in writing from the
rating agencies to the effect the proposed transfer will not result in a downgrade, qualification reduction or withdrawal or any rating initially assigned or to be assigned in a Secondary Market Transaction. For purposes hereof, a “Secondary
Market Transaction” shall be (i) any sale of the Deed of Trust, Note and Loan Documents to one or more investors as a whole loan; (ii) a participation of the Note to one or more investors; (iii) any deposit of this Deed of Trust,
Note and Loan Documents with a trust or other entity which may sell certificates or other instruments to investors evidencing an ownership interest in the assets of such trust or other entity, or (iv) any other sale or transfer of the Note or
any interest therein to one or more investors; 
 16. No Additional Liens. Grantor covenants not to execute any
deed of trust, security agreement, assignment of leases and rents or other agreement granting a lien (except the liens granted to Beneficiary and Trustee by the Loan Documents) or, except as set forth in Paragraph 2 above, take or fail to
take any other action which would result in a lien against the interest of Grantor in the Property without the prior written consent of Beneficiary. 
  

 22 

 17. Single Asset Entity. Grantor shall not hold or acquire, directly or
indirectly, any ownership interest (legal or equitable) in any real or personal property other than the Property, or become a shareholder of or a member or partner in any entity which acquires any property other than the Property, until such time as
the Indebtedness has been fully repaid and all Obligations are satisfied. Grantor’s articles of incorporation, partnership agreement or operating agreement, as applicable, shall limit its purpose to the acquisition, operation and disposition of
the Property, and such purposes shall not be amended without the prior written consent of Beneficiary. Grantor covenants: 
 (a)
That Grantor does not own and will not own any asset or property other than (i) the Property, and (ii) incidental personal property necessary for the ownership or operation of the Property. 

(b) That Grantor will not engage in any business other than the ownership, management and operation of the Property and Grantor will
conduct and operate its business as presently conducted and operated. 
 (c) That Grantor will not enter into any contract or
agreement with any Principal or any party which is directly or indirectly controlling, controlled by or under common control with Grantor or Principal (an “Affiliate”), except upon terms and conditions that are intrinsically fair
and substantially similar to those that would be available on an arms-length basis with third parties other than any Principal or Affiliate. 

(d) That Grantor has not incurred and will not incur any indebtedness, secured or unsecured, direct or indirect, absolute or contingent
(including guaranteeing any obligation), other than (i) the Indebtedness, and (ii) trade and operational debt incurred in the ordinary course of business with trade creditors and in amounts as are normal and reasonable under the
circumstances. No indebtedness other than the Indebtedness may be secured (subordinate or pari passu) by the Property. 

(e) That Grantor has not made and will not make any loans or advances to any third party, nor to Principal, any Affiliate or any
constituent party of Grantor. 
 (f) That Grantor is solvent and Grantor will pay its debts from its assets as the same shall
become due. 
 (g) That Grantor has done or caused to be done and will do all things necessary, to preserve its existence, and
Grantor will not, nor will Grantor permit Principal to amend, modify or otherwise change the partnership certificate, partnership agreement, articles of incorporation and bylaws, trust, certificate of organization, operating agreement or other
organizational documents of Grantor or Principal in a manner which would adversely affect the Grantor’s existence as a single-purpose entity. 

(h) That Grantor will maintain books and records and bank accounts separate from those of its Affiliates and any constituent party of
Grantor, and Grantor will file its own tax returns. 
  

 23 

 (i) That Grantor will be, and at all times will hold itself out to the public as, a legal
entity separate and distinct from any other entity (including any Affiliate, any constituent party of Grantor or any Principal). 

(j) That Grantor will preserve and keep in full force and effect its existence, good standing and qualification to do business in the
state in which the Property is located. 
 (k) That Grantor will maintain adequate capital for the normal obligations reasonably
foreseeable in a business of its size and character and in light of its contemplated business operations. 
 (l) That neither
Grantor nor any constituent party of Grantor will seek the dissolution or winding up, in whole or in part, of Grantor, nor will Grantor merge with or be consolidated into any other entity. 

(m) That Grantor will not commingle the funds and other assets of Grantor with those of any Affiliate, any Principal, any constituent
party of Grantor or any other person. 
 (n) That Grantor has and will maintain its assets in such a manner that it will not be
costly or difficult to segregate, ascertain or identify its individual assets from those of any constituent party of Grantor, Affiliate, Principal or any other person. 

(o) That Grantor does not and will not hold itself out to be responsible for the debts or obligations of any other person (provided, that
the foregoing shall not prevent Grantor from being and holding itself responsible for expenses incurred or obligations undertaken by the property manager of the Property in respect of its duties regarding the Property). 

(p) That Grantor shall obtain and maintain in full force and effect, and abide by and satisfy the material terms and conditions of, all
material permits, licenses, registrations and other authorizations with or granted by any governmental authorities that may be required from time to time with respect to the performance of its obligations under this Deed of Trust. 

(q) That since its inception, Grantor has not owned any asset, conducted any business or operation or engaged in any business or activity
other than ownership and operation of the Property. Grantor has no debts or obligations other than normal accounts payable in the ordinary course of business, this Deed of Trust and the Note it secures. Any other indebtedness or other obligation of
Grantor has been paid in full prior to or through application of proceeds from funding of the loan. 
 18. Grantor and
Lien Not Released. Without affecting the liability of Grantor or any other person liable for the payment of the Indebtedness, and without affecting the lien or charge of this Deed of Trust as security for the payment of the Indebtedness,
Beneficiary and Trustee may, from time to time and without notice to any junior lien holder or holder of any right or other interest in and to the Property: (a) release any person so liable, (b) waive or modify any provision of this Deed
of Trust or the other Loan Documents or grant other indulgences, (c) release all or any part of the Property, (d) take additional security for any obligation herein mentioned, (e) subordinate the lien or charge of this Deed of Trust,
(f) consent to the granting of any easement, or (g) consent to any map or plan of the Property. 
  

 24 

 19. Uniform Commercial Code Security Agreement and Fixture Filing This Deed of
Trust shall constitute a security agreement and fixture filing pursuant to the Uniform Commercial Code for any of the items specified herein as part of the Property which, under applicable law, may be subject to a security interest pursuant to the
Uniform Commercial Code (collectively, the “Collateral”), and Grantor hereby grants Beneficiary a security interest in the Collateral. Any reproduction of this Deed of Trust or of any other security agreement or financing statement shall
be sufficient as a financing statement. In addition, Grantor agrees to execute and deliver to Beneficiary any financing statements, as well as extensions, renewals and amendments thereof, and reproductions of this Deed of Trust in such form as
Beneficiary may require to perfect a security interest with respect to said items. Grantor shall pay all costs of filing such financing statements and any extensions, renewals, amendments and releases thereof, and shall pay all reasonable costs and
expenses of any record searches for financing statements Beneficiary may reasonably require. If an Event of Default shall occur, Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and
without demand, any and all rights and remedies granted to a secured party upon default. Beneficiary shall have the remedies of secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the
Collateral or any part thereof, and to take such other measures as Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Beneficiary, Grantor shall, at its expense, assemble the
Collateral and make it available to Beneficiary at a convenient place acceptable to Beneficiary. Grantor shall pay to Beneficiary on demand any and all expenses, including legal expenses and attorneys’ fees, incurred or paid by Beneficiary in
protecting the interest in the Collateral and in enforcing the rights hereunder with respect to the Collateral. Any notice of sale, disposition or other intended action by Beneficiary with respect to the Collateral sent to Grantor in accordance with
the provisions hereof at least five (5) days prior to such action, shall constitute commercially reasonable notice to Grantor. 

20. Events of Default; Acceleration of Indebtedness; Remedies. The occurrence of any one or more of the following events
shall constitute an “Event of Default” under this Deed of Trust: 
 (a) failure of Grantor to pay, within 5
days of the due date, any of the Indebtedness, including any payment due under the Note; or 
 (b) failure of Grantor to
strictly comply with Paragraphs 10, 11, 15, 16 and 17 of this Deed of Trust; or 
 (c) a petition under any Chapter of
Title 11 of the United States Code or any similar law or regulation is filed by or against Grantor or any Principal (and in the case of an involuntary petition in bankruptcy, such petition is not discharged within 60 days of its filing), or a
custodian, receiver or trustee for any of the Property is appointed, or Grantor or any Principal makes an assignment for the benefit of creditors, or any of them are adjudged insolvent by any state or federal court of competent jurisdiction, or an
attachment or execution is levied against any of the Property; or 
 (d) the occurrence of an “Event of Default” under
and as defined in any other Loan Document; or 
  

 25 

 (e) Grantor is in default in the payment of any indebtedness (other than the Indebtedness)
and such default is declared and is not cured within the time, if any, specified therefor in any agreement governing the same; or 

(f) any statement, report or certificate made or delivered to Beneficiary by Grantor or any Principal is not materially true and
complete, or any representation or warranty made or delivered to Beneficiary by Grantor or any Principal is not materially true and correct; or 

(g) seizure or forfeiture of the Property, or any portion thereof, or Grantor’s interest therein, resulting from criminal wrongdoing
or other unlawful action of Grantor, its affiliates, or any tenant in the Property under any federal, state or local law; or 

(h) failure of Grantor, within 30 days after notice and demand, to satisfy each and every Obligation, other than those set forth in the
subparagraphs above; provided, however, if such failure to satisfy such Obligation cannot by its nature be cured within 30 days, and if Grantor commences to cure such failure promptly after written notice thereof and thereafter diligently pursues
the curing thereof (and then in all events cures such failure within 60 days after the original notice thereof), Grantor shall not be in default hereunder during such period of diligent curing. 

Upon the occurrence of an Event of Default, the Indebtedness, at the option of the Beneficiary, shall become immediately due and payable
without notice to Grantor, and Beneficiary and Trustee, shall become entitled to pursue all rights and remedies provided in the Loan Documents or at law or in equity. Each remedy provided in the Loan Documents is distinct and cumulative to all other
rights or remedies under the Loan Documents or afforded by law or equity, and may be exercised concurrently, independently, or successively, in any order whatsoever. 

21. Entity; Remedies. Upon the occurrence of an Event of Default, (a) Grantor, upon demand of Beneficiary, shall
forthwith surrender to Beneficiary the actual possession, or to the extent permitted by law, Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property, and may exclude
Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor; and (b) if Grantor shall for any reason fail to surrender or deliver the Property or any part thereof
after such demand by Beneficiary, Beneficiary may obtain a judgment or decree conferring on Beneficiary the right to immediate possession or requiring the delivery to Beneficiary of the Property, and Grantor specifically consents to the entry of
such judgment or decree. Upon every such entering upon or taking of possession, Beneficiary may hold, store, use, operate, manage and control the Property and conduct the business thereof. Beneficiary shall have no liability for any loss, damage,
injury, cost or expense resulting from any action or omission by it or its representatives which was taken or omitted in good faith. 

Upon any sale, Beneficiary may bid for and purchase the Property and shall be entitled to apply all or part of the Indebtedness as a
credit to the purchase price. 
 Upon the occurrence of an Event of Default, then, without notice to or the consent of Grantor,
Beneficiary shall be entitled to immediately exercise or pursue or cause to be exercised or pursued any or all of the rights and remedies contained in this Deed of Trust and in any other Loan Document or otherwise available at law or in equity,
including the right to do any one or more of the following: 
  

 26 

 (a) Cause the Trustee to sell the Property, and all estate, right, title, interest, claim
and demand of Grantor therein, and all rights of redemption thereof, at one or more sales, as an entirety or in parcels, with such elements of real or personal property, or both, at public venue at the courthouse for the county where this Deed of
Trust is recorded (or such other place as may be proper for the conduct of such sale in the jurisdiction in which the Property is located) to the highest bidder for cash at such time and place and upon such terms as it may deem expedient, or as may
be required by applicable law, after first giving notice as required by applicable law, and in the event of a sale, by foreclosure, power of sale or otherwise, of less than all of the Property, this Deed of Trust shall continue as a lien and
security interest on the remaining portion of the Property; 
 (b) To enter upon, take possession of and manage the Property for
the purpose of collecting the Rents; 
 (c) To require Grantor to hold all Rents collected in trust for the benefit of
Beneficiary; 
 (d) Dispossess by the usual summary proceedings any Tenant defaulting in the payment of Rent to Grantor;

 (e) Lease the Property or any part thereof; 

(f) Repair, restore, and improve the Property; 

(g) Apply the Rent after payment of Property expenses as determined by Beneficiary to Grantor’s indebtedness under the Loan
Documents; and 
 (h) Apply to any court of competent jurisdiction for specific performance of this Deed of Trust, an injunction
against the violation hereof and/or the appointment of a receiver. 
 (i) enforce the power of sale herein granted; 

(j) institute an action, suit or proceeding in equity for the specific performance of any covenant, condition or agreement contained
herein, in the Note, the Deed of Trust or the Loan Documents; 
 (k) recover judgment on the Note either before, during or after
any proceedings for the enforcement of this Deed of Trust; 
 The foregoing remedies shall be cumulative of any other
nonjudicial remedies available to Beneficiary under this Deed of Trust or the other Loan Documents, at law or in equity. Proceeding with a request or receiving a judgment for legal relief shall not be or be deemed to be an election of remedies or
bar any available nonjudicial remedy of Beneficiary. 
 To the extent permitted by applicable law, Trustee or Beneficiary may
adjourn from time to time any sale by it to be made under or by virtue of this Deed of Trust by announcement at the time and place appointed for such sale or for such adjourned sale or sales; and, except as otherwise provided by law, Trustee,
without further notice or publication, may make such sale at the time and place to which the same shall be so adjourned. 
  

 27 

 Upon the completion of any sale or sales made by Trustee under or by virtue of this Deed of
Trust, Trustee, or an officer of any court empowered to do so, shall execute and deliver to the purchaser or purchasers a good and sufficient instrument, or good and sufficient instruments, conveying, assigning and transferring all estate, right,
title and interest in and to the property and rights sold. Trustee is hereby irrevocably appointed the true and lawful attorney of Grantor, in its name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the
Property and rights so sold, and for that purpose Trustee may execute all necessary instruments of conveyance, assignment and transfer, and may substitute one or more persons with like power, Grantor hereby ratifying and confirming all that Trustee
or such substitute or substitutes shall lawfully do by virtue hereof. Any such sale or sales made under or by virtue of this Deed of Trust, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a
judgment or decree of foreclosure and sale, shall operate to divest all the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Grantor in and to the properties and rights so sold, and shall be a perpetual
bar both at law and in equity against Grantor and against any all persons claiming or who may claim the same, or any part thereof from, through or under Grantor. 

Upon any sale made under or by virtue of this Deed of Trust (whether made under the power of sale herein granted or under or by virtue of
judicial proceedings or of a judgment or decree of foreclosure and sale), Beneficiary may bid for and acquire the Property or any part thereof and in lieu of paying cash therefor may make settlement for the purchase price by crediting upon the
Indebtedness the net sales price after deducting therefrom (to the extent allowed by applicable law) the expenses of the sale and costs of the action and any other sums which Beneficiary is authorized to deduct under this Deed of Trust. 

No recovery of any judgment by Trustee or Beneficiary and no levy of an execution under any judgment upon the Property or upon any other
property of Grantor shall affect in any manner or to any extent the lien of this Deed of Trust upon the Property or any part thereof, or any liens, rights, powers or remedies of Trustee or Beneficiary hereunder, but such liens, rights, powers and
remedies of Trustee or Beneficiary shall continue unimpaired as before. 
 22. Expenditures and Expenses. Grantor
acknowledges and confirms that Beneficiary shall impose certain administrative processing and/or commitment fees in connection with (a) the extension, renewal, modification, amendment and termination of its loans, (b) the release or
substitution of collateral therefor, (c) obtaining certain consents, waivers and approvals with respect to the Property, or (d) the review of any Lease or proposed Lease or the preparation or review of any subordination, non-disturbance
and attornment agreement. In addition, in any civil action to foreclose the lien hereof or otherwise enforce Trustee’s or Beneficiary’s rights, there shall be allowed and included as additional Indebtedness in the order or judgment for
foreclosure and sale or other order all expenditures and expenses which may be paid or incurred by or on behalf of Beneficiary including attorneys’ fees, costs and expenses, receiver’s fees, costs and expenses, appraiser’s fees,
engineers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimates as to items to be expended after entry of said order or judgment) of procuring all such abstracts of
title, title searches and examination, title insurance policies, Torrens’ Certificates and similar data and assurances with respect to the title as Beneficiary may deem reasonably necessary either to prosecute such civil action or to evidence
to bidders at any sale which may be had pursuant to such order or judgment the true condition of the title to, or the value of, the Property (said expenditures and expenses are hereinafter collectively referred to as the

  

 28 

 “Reimbursable Expenses”). All Reimbursable Expenses, and such costs, expenses and fees as
may be incurred by Beneficiary at any time or times hereafter in the protection of the Property, in enforcing the Obligations, and/or the maintenance of the lien established by any of the Loan Documents, including accountants’ and
attorneys’ fees, costs and expenses in any advice, litigation, or proceeding affecting the Loan Documents or the Property, whether instituted by Beneficiary, Trustee, Grantor or any other party, or in preparation for the commencement or defense
of any action or proceeding or threatened action or proceeding, shall be immediately due and payable to Beneficiary by Grantor, and, to the extent such services relate to the Hazardous Substance Indemnity Agreement of even date herewith from Grantor
and Principals in favor of Beneficiary, by Grantor and Principals, with interest thereon at the Default Rate set forth in the Note, and shall be secured by the Loan Documents. In addition, Grantor shall be liable for the payment of all commissions
and brokerage fees relating to the Loan. 
 23. Application of Proceeds of Sale. The proceeds of any sale
of the Property shall be distributed and applied in the order of priority set forth in the Note with the excess, if any, being applied to any parties entitled thereto as their rights may appear. 

24. Appointment of Receiver. In addition to all other remedies herein provided for, Grantor agrees that upon the occurrence
of an Event of Default hereunder or under the Note, under this Deed of Trust or under any of the other Loan Documents, and if the same is not cured within any applicable cure period, Beneficiary shall, as a matter of right, upon ex parte
application, be entitled to the appointment of an ex parte receiver or receivers for all or any part of the Property, whether such receivership be incident to a proposed sale of the Property or otherwise, and without regard to the value of the
Property or the solvency of Grantor or any person or persons liable for the payment of the Indebtedness and Obligations secured hereby. Grantor does hereby consent to the appointment of such receiver or receivers, ex parte, and waives any and all
notices of and defenses to such appointment and agrees not to oppose any application therefor by Beneficiary, but nothing herein to be construed to deprive Beneficiary of any other right, remedy or privilege it may now have under the law to have a
receiver appointed, provided, however, that the appointment of such receiver, trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Beneficiary to receive payment of
the rents, issues and profits pursuant to other terms and provisions hereof. In connection with any action brought by Beneficiary for appointment of a receiver as allowed herein, Grantor hereby consents to and confesses to the jurisdiction and venue
of any competent court within the State of Colorado, including, without limitation, the El Paso County District Court, State of Colorado. Any money advanced by Beneficiary in connection with any such receivership shall be a demand obligation owing
by Grantor to Beneficiary, shall bear interest from the date of making such advancement by Beneficiary until paid at the Default Rate, shall be added to the principal balance of the Note and shall be a part of the Indebtedness. The receiver or its
agents shall be entitled to enter upon and take possession of any and all of the Property to the same extent and in the same manner as Grantor might lawfully do. The receiver, personally or through its agents or attorneys, may exclude Grantor and
its agents, servants and employees wholly from the Property and may have, hold, use, operate, manage and control the same and each and every part thereof, and in the name of Grantor or Grantor’s agents, may exercise all of their rights and
powers and use all of the then existing materials, current supplies, stores and assets and, at the expense of Grantor, maintain, restore, insure and keep insured the properties, equipment, and apparatus provided or required for use in connection
with the business or businesses operated on the Land and may make all such necessary and proper repairs, renewals and replacements and all such useful alterations, additions, betterments and improvements as the receiver

  

 29 

 
may deem judicious. Such receivership shall, at the option of Beneficiary, continue until full payment of all of the Indebtedness and Obligations secured hereby or until title to the Property
shall have passed by foreclosure sale under this Deed of Trust or deed in lieu of foreclosure. 
 25. Forbearance by
Beneficiary Not a Waiver. Any forbearance by Beneficiary in exercising any right or remedy under any of the Loan Documents, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy.
Beneficiary’s acceptance of payment of any sum secured by any of the Loan Documents after the due date of such payment shall not be a waiver of Beneficiary’s right to either require prompt payment when due of all other sums so secured or
to declare a default for failure to make prompt payment. The procurement of insurance or the payment of taxes or other liens or charges by Beneficiary shall not be a waiver of Beneficiary’s right to accelerate the maturity of the Indebtedness,
nor shall Beneficiary’s receipt of any awards, proceeds or damages under Paragraph 5 hereof operate to cure or waive Grantor’s default in payment or sums secured by any of the Loan Documents. With respect to all Loan Documents, only
waivers made in writing by Beneficiary shall be effective against Beneficiary. 
 26. Waiver of Statute of
Limitations. Grantor hereby waives the right to assert any statute of limitations as a bar to the enforcement of the lien created by any of the Loan Documents or to any action brought to enforce the Note or any other obligation
secured by any of the Loan Documents. 
 27. Waiver of Homestead and Redemption. Grantor hereby waives all
rights of homestead exemption in the Property. Grantor hereby waives all right of redemption on behalf of Grantor and on behalf of all other persons acquiring any interest or title in the Property subsequent to the date of this Deed of Trust, except
decree or judgment creditors of Grantor. 
 28. Jury Trial Waiver. GRANTOR AND TRUSTEE, BY ITS ACCEPTANCE OF THIS DEED
OF TRUST, EACH HEREBY WAIVES ITS RESPECTIVE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THE LOAN DOCUMENTS AND THE BUSINESS RELATIONSHIP THAT IS BEING ESTABLISHED. THIS WAIVER IS KNOWINGLY,
INTENTIONALLY AND VOLUNTARILY MADE BY GRANTOR AND BY BENEFICIARY, AND GRANTOR ACKNOWLEDGES THAT NONE OF BENEFICIARY, TRUSTEE OR ANY PERSON ACTING ON BEHALF OF BENEFICIARY OR TRUSTEE HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL
BY JURY OR HAS TAKEN ANY ACTIONS WHICH IN ANY WAY MODIFY OR NULLIFY ITS EFFECT. GRANTOR AND TRUSTEE ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT GRANTOR AND TRUSTEE HAVE ALREADY RELIED ON THIS
WAIVER IN ENTERING INTO THE LOAN DOCUMENTS AND THAT EACH OF THEM WILL CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. GRANTOR AND TRUSTEE FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE
REPRESENTED) IN THE SIGNING OF THE LOAN DOCUMENTS AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL. /s/ EW     

					
		 	                             
                                         
                                         
                   Initial	 	

  

 30 

 29. Indemnification. In addition to any other indemnifications provided in any
of the other Loan Documents, Grantor shall, at its sole cost and expense, protect, defend, indemnify, release and save harmless Beneficiary, Trustee, or any person or entity who is or will have been involved in the servicing of this Loan, as well as
the respective affiliates, subsidiaries, persons controlling or under common control, directors, officers, shareholders, members, partners, employees, agents, servants, representatives, contractors, subcontractors, participants, successors and
assigns of any and all of the foregoing (collectively, the “Indemnified Parties”), from and against all liabilities, obligations, claims, demands, damages, penalties, causes of action, losses, fines, costs and expenses (including
without limitation reasonable attorneys’ fees and expenses), imposed upon or incurred by or asserted against any of the Indemnified Parties and directly or indirectly arising out of or in any way relating to any one or more of the following:
(a) ownership of this Deed of Trust, the Property or any interest therein or receipt of any Rents; (b) any amendment to, or restructuring of, the Indebtedness, the Note, this Deed of Trust or any other Loan Documents; (c) any and all
lawful action that may be taken by Beneficiary or Trustee in connection with the enforcement of the provisions of this Deed of Trust or the Note or any other Loan Documents, whether or not suit is filed in connection with same, or in connection with
Grantor or any Principal becoming a party to a voluntary or involuntary federal or state bankruptcy, insolvency or similar proceeding; (d) any accident, injury to or death of persons or loss of or damage to property occurring in, on or about
the Property or any part thereof or on the adjoining sidewalks, curbs, adjacent property or adjacent parking areas, streets or ways; (e) any failure on the part of Grantor to perform or comply with any of the terms of this Deed of Trust;
(f) performance of any labor or services or the furnishing of any materials or other property in respect of the Property or any part thereof; (g) any failure of the Property to comply with any laws or ordinances affecting or which may be
interpreted to affect the Property; or (h) any representation or warranty made in the Note, this Deed of Trust or the other Loan Documents being false or misleading in any respect as of the date such representation or warranty was made. The
obligations and liabilities of Grantor under this Paragraph 29 (A) shall survive for a period of one (1) year following any release of this Deed of Trust executed by Beneficiary and satisfaction of the Loan evidenced by the Loan Documents,
and (B) shall survive the transfer or assignment of this Deed of Trust, the entry of a judgment of foreclosure, sale of the Property by nonjudicial foreclosure sale, or delivery of a deed in lieu of foreclosure (including, without limitation,
any transfer by Grantor of any of its rights, title and interest in and to the Property to any party, whether or not affiliated with Grantor); provided, however, that any act or omission pursuant to subsections (a) through (h) above was
taken or occurred prior to the payment in full of the Indebtedness. 
 30. Duty to Defend. Upon written request by
an Indemnified Party, Grantor shall defend such Indemnified Party (if requested by an Indemnified Party, in the name of the Indemnified Party) by attorneys and other professionals approved by the Indemnified Parties. Notwithstanding the foregoing,
any Indemnified Parties may, in their sole and absolute discretion, engage their own attorneys and other professionals to defend or assist them, and, at the option of the Indemnified Parties, their attorneys shall control the resolution of the claim
or proceeding. Upon demand, Grantor shall pay or, in the sole and absolute discretion of the Indemnified Parties, reimburse, the Indemnified Parties for the payment of reasonable fees and disbursements of attorneys, engineers, and other
professionals in connection therewith. Any amounts payable to any of the Indemnified Parties by reason of the application of Paragraph 29 or this Paragraph shall be secured by this Deed of Trust and shall become immediately due and payable and shall
bear interest at the Default Rate 
  

 31 

 
specified in the Note from the date loss or damage is sustained by any of the Indemnified Parties until paid. 

31. ERISA. Grantor covenants and agrees that during the term of the Loan, unless Beneficiary shall have previously
consented in writing, (a) Grantor will take no action that would cause it to become an “employee benefit plan” as defined in 29 C.F.R. Section 2510.3-101, or “assets of a governmental plan” subject to regulation under
the state statutes, and (b) Grantor will not sell, assign or transfer the Property, or any portion thereof or interest therein, to any transferee that does not execute and deliver to Beneficiary its written assumption of the obligations of this
covenant. Grantor further covenants and agrees to protect, defend, indemnify and hold Beneficiary harmless from and against all loss, cost, damage and expense (including without limitation, all attorneys’ fees and excise taxes, costs of
correcting any prohibited transaction or obtaining an appropriate exemption) that Beneficiary may incur as a result of Grantor’s breach of this covenant. This covenant and indemnity shall survive the extinguishment of the lien of this Deed of
Trust by foreclosure or action in lieu thereof; furthermore, the foregoing indemnity shall supersede any limitations on Grantor’s liability under any of the Loan Documents. 

32. No Oral Change. This Deed of Trust may not be modified, amended, waived, extended, changed, discharged or terminated
orally or by any act or failure to act on the part of Grantor or Beneficiary, but only by an agreement in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is
sought. 
 33. Notice. Except for any notice required under applicable law to be given in another manner,
(a) any notice to Grantor provided for in the Loan Documents shall be given by mailing such notice by Federal Express or any other overnight carrier addressed to Grantor at Grantor’s address stated above or at such other address as Grantor
may designate by notice to Beneficiary or Trustee as provided herein, and (b) any notice to Trustee or Beneficiary shall be given by Federal Express or any other overnight carrier to Trustee’s or Beneficiary’s address stated above or
to such other address as Trustee or Beneficiary may designate by notice to Grantor as provided herein. Any notice provided for in the Loan Documents shall be deemed to have been given to Grantor, Trustee or Beneficiary on the first business day
following such mailing in the manner designated herein. 
 34. Successors and Assigns Bound; Joint and Several Liability;
Agents; Captions. The covenants and agreements contained in the Loan Documents shall bind, and the rights thereunder shall inure to, the respective successors and assigns of Trustee, Beneficiary and Grantor, subject to the provisions of
Paragraph 15 hereof. All covenants and agreements of Grantor shall be joint and several. In exercising any rights under the Loan Documents or taking any actions provided for therein, Trustee or Beneficiary may act through its employees,
agents, or independent contractors as authorized by Trustee or Beneficiary, respectively. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof.

 35. Governing Law; Severability. THIS DEED OF TRUST SHALL BE GOVERNED BY, CONSTRUED, APPLIED AND ENFORCED IN
ACCORDANCE WITH THE LAWS OF THE STATE IN WHICH THE PROPERTY IS LOCATED, WITHOUT REGARD TO ANY CONFLICT OF LAWS PRINCIPLES OF SUCH STATE. IF ANY 

 

 32 

 PROVISION OF THE LOAN DOCUMENTS CONFLICTS WITH APPLICABLE LAW, SUCH CONFLICT SHALL NOT AFFECT OTHER
PROVISIONS OF THE LOAN DOCUMENTS WHICH CAN BE GIVEN EFFECT WITHOUT THE CONFLICTING PROVISIONS, AND TO THIS END THE PROVISIONS OF THE LOAN DOCUMENTS ARE DECLARED TO BE SEVERABLE. 

36. Release. Upon payment of all sums secured by this Deed of Trust, Beneficiary shall cause Trustee to release this Deed
of Trust. Grantor shall pay Beneficiary’s and Trustee’s reasonable costs incurred in releasing this Deed of Trust and any financing statements related hereto. 

37. Covenants Running with the Land. All covenants, conditions, warranties, representations and other obligations contained
in this Deed of Trust and the other Loan Documents are intended by Grantor, Trustee and Beneficiary to be, and shall be construed as, covenants running with the Property until the lien of this Deed of Trust has been fully released by Beneficiary.

 38. Terms. As used in the Loan Documents, (i) “business day” means a day when banks are not
required or authorized to be closed in Chicago, Illinois; and (ii) the words “include” and “including” shall mean “including but not limited to” unless specifically set forth to the contrary. 

39. Loss of Note. Upon notice from Beneficiary of the loss, theft, or destruction of the Note and upon receipt of indemnity
reasonably satisfactory to Grantor from Beneficiary, or in the case of mutilation of the Note, upon surrender of the mutilated Note, Grantor shall make and deliver a new note of like tenor in lieu of the then to be superseded Note. 

40. Changes in the Laws Regarding Taxation. If any law is amended, enacted or adopted after the date of this Deed of Trust
which deducts the Indebtedness from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Indebtedness of Beneficiary’s interest in the Property, Grantor will pay such tax, with
interest and penalties thereon, if any. In the event Beneficiary is advised by counsel chosen by it that the payment of such tax or interest and penalties by Grantor would be unlawful or taxable to Beneficiary or unenforceable or provide the basis
for a defense of usury, then in any such event, Beneficiary shall have the option, by written notice of not less than forty-five (45) days, to declare the Indebtedness immediately due and payable. 

41. Substitution of Trustee. Beneficiary may, from time to time by written instrument executed and acknowledged by
Beneficiary and recorded in the county or counties where the Property is located, and by otherwise complying with the provisions of any applicable statutes, substitute a successor or successors for the Trustee named herein or acting hereunder.

 42. Exculpation. This Deed of Trust and other Loan Documents and all of Grantor’s obligations hereunder
and thereunder are subject to the provisions of Paragraph 11 of the Note entitled Exculpation. All of the provisions of the Note, including Paragraph 11, are incorporated herein by this reference. 

43. Disclosure of Information. Beneficiary shall have the right (but shall be under no obligation) to make available to any
party for the purpose of granting participation in or selling, transferring, assigning or conveying all or any part of the Loan (including any governmental agency 

 

 33 

 
or authority and any prospective bidder at any foreclosure sale of the Property) any and all information which Beneficiary may have with respect to the Property and Grantor, whether provided by
Grantor, any Principal or any third party or obtained as a result of any environmental assessments. Grantor and each Principal agree that Beneficiary shall have no liability whatsoever as a result of delivering any such information to any third
party, and Grantor and each Principal, on behalf of themselves and their successors and assigns, hereby release and discharge Beneficiary from any and all liability, claims, damages, or causes of action, arising out of, connected with or incidental
to the delivery of any such information to any third party. 
 44. Sale of Loan; Securitization. Beneficiary, at
any time and without the consent of Grantor or any Principal, may grant participation in or sell, transfer, assign and convey all or any portion of its right, title and interest in and to the Loan, the servicing of the Loan, this Deed of Trust and
the other Loan Documents, any guaranties given in connection with the Loan and any collateral given to secure the Loan. Grantor covenants to cooperate with Beneficiary’s efforts in the securitization of the Loan; such cooperation includes
Grantor’s obligation to (a) make non-material modifications of the Loan Documents (such modifications shall not increase the amount of the Indebtedness), (b) provide additional information regarding Grantor’s financial
statements, (c) deliver updated information regarding Grantor and the Property, and (d) review Beneficiary’s securitization offering materials to the extent such materials relate to Grantor, the Property or the Loan and
(e) respond to any inquiries of Beneficiary or other party relating thereto. Grantor agrees to represent and warrant the absence of misstatements and/or omissions in the information relating to Grantor, the Property and the Loan that is
contained in the offering materials and which has been furnished to or approved by Grantor. Grantor shall not be liable for Beneficiary’s post-closing costs incurred pursuant to any securitization of the Loan by Beneficiary. 

45. Intentionally Omitted. 

46. Actions and Proceedings. Beneficiary and Trustee have the right to appear in and defend any action or proceeding
brought with respect to the Property and to bring any action or proceeding, in the name and on behalf of Grantor, which Beneficiary and Trustee, in their discretion, decide should be brought to protect their respective interests in the Property.
Beneficiary and Trustee shall, at their option, be subrogated to the lien of any Deed of Trust or other security instrument discharged in whole or in party by the Indebtedness, and any such subrogation rights shall constitute additional security for
the payment of the Indebtedness. 
 47. No Third Party Beneficiaries. The provisions of this Deed of Trust and the
other Loan Documents are for the benefit of Grantor and Beneficiary and shall not inure to the benefit of any third party (other than any successor or assignee of Beneficiary). This Deed of Trust and the other Loan Documents shall not be construed
as creating any rights, claims or causes of action against Beneficiary or any of its officers, directors, agents or employees in favor of any party other than Grantor including but not limited to any claims to any sums held in the Replacement
Reserve or the TI and Leasing Reserve. 
 48. Exhibits and Riders. The following Exhibits and Riders (which may
contain additional representations, warranties, and covenants) are attached to this Deed of Trust and hereby made a part of this Deed of Trust: Exhibit A (legal description for Land) Exhibit B (definition of Personal Property), and
Exhibit C (pending and threatened litigation). 
  

 34 

 49. Trustee’s Costs. Grantor shall pay all costs, fees and expenses
incurred by Trustee and Trustee’s agents and counsel in connection with the Trustee’s performance of its duties hereunder and all such costs, fees and expenses shall be secured by this Deed of Trust. 

50. Counterparts. This Deed of Trust may be executed in any number of counterparts each of which shall be deemed to be an
original but all of which when taken together shall constitute one agreement. 
 IN WITNESS WHEREOF, Grantor has executed
this Deed of Trust or has caused the same to be executed by its representatives thereunto duly authorized. 
  

							
	Witness/Attest:	 		  	Grantor:
			
		 		  	PERIDOT PROPERTIES I, LLC,
		 		  	a Colorado limited liability company
				
	  
	 		  	By:	 	 /s/ Edward M. Warner

		 		  	Name: Edward M. Warner
		 		  	Its: Manager and Sole Member

 STATE OF
COLORADO 
 COUNTY OF DENVER 

The foregoing instrument was acknowledged before me this
13th day of October, 2001 by Edward M. Warner, the Manager
and Sole Member of Peridot Properties I, LLC, a Colorado limited liability company. Witness my hand and official seal. 
  

							
		 		 	 /s/ Miriam E.Ellsworth
	 	
		 		 	Notary	 	
			
	 My commission expires:
	 	     3/17/02
	 	

  

 35 

 EXHIBIT A 

LEGAL DESCRIPTION 
  

 36 

 LEGAL DESCRIPTION 

FILE NO. 1239099 
 PAGE 1 OF 2 

“EXHIBIT A” 
 PARCEL
1: 
 A PARCEL OF LAND IN THE EAST ONE-HALF OF SECTION 22, TOWNSHIP 14 SOUTH, RANGE 66 WEST OF THE 6TH PRINCIPAL MERIDIAN, BEING ALL OF LOT 2,
BLOCK 2 OF ACADEMY POINT SUBDIVISION, CITY OF COLORADO SPRINGS, AS SHOWN ON PLAT RECORDED MAY 4, 1981 IN BOOK N-3 AT PAGE 77, AS ADJUSTED BY PROPERTY BOUNDARY ADJUSTMENT RECORDED DECEMBER 5, 1983 IN BOOK 3810 AT PAGE 678, COUNTY OF EL PASO, STATE OF
COLORADO, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 COMMENCING AT THE SOUTHEAST CORNER OF SAID SECTION 22; 

THENCE NORTH 00 DEGREES 25 MINUTES 09 SECONDS WEST A DISTANCE OF 1069.74 FEET ALONG THE EAST LINE OF SAID SECTION 22 TO A POINT; 

THENCE NORTH 89 DEGREES 56 MINUTES 30 SECONDS WEST A DISTANCE OF 80.00 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY FOR SOUTH ACADEMY BOULEVARD EXTENDED,
“A 110 FOOT RIGHT-OF-WAY”; 
 THENCE NORTH 00 DEGREES 25 MINUTES 09 SECONDS WEST A DISTANCE OF 60.00 FEET TO A POINT ON THE NORTHERLY
RIGHT-OF-WAY FOR FOUNTAIN BOULEVARD EXTENDED, “A 110 FOOT RIGHT-OF-WAY”; 
 THENCE NORTH 89 DEGREES 56 MINUTES 30 SECONDS WEST A
DISTANCE OF 10.00 FEET TO A POINT ON THE NORTHERLY RIGHT-OF-WAY FOR SAID FOUNTAIN BOULEVARD, SAID POINT ALSO BEING THE TRUE POINT OF BEGINNING; 

THENCE ALONG SAID RIGHT-OF-WAY FOR FOUNTAIN BOULEVARD FOR THE FOLLOWING FOUR (4) COURSES: 

NORTH 89 DEGREES 56 MINUTES 30 SECONDS WEST A DISTANCE OF 241.07 FEET TO A POINT OF CURVATURE; 

THENCE 217.82 FEET ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 390.00 FEET, A CENTRAL ANGLE OF 32 DEGREES 00 MINUTES 00 SECONDS AND WHOSE CHORD BEARS
NORTH 73 DEGREES 56 MINUTES 30 SECONDS WEST A DISTANCE OF 215.00 FEET TO A POINT OF TANGENCY; 
 THENCE NORTH 57 DEGREES 56 MINUTES 30 SECONDS
WEST A DISTANCE OF 245.00 FEET TO A POINT; 
 THENCE NORTH 12 DEGREES 56 MINUTES 30 SECONDS WEST A DISTANCE OF 21.21 FEET A POINT ON THE
EASTERLY RIGHT-OF-WAY FOR ACADEMY PARK LOOP, “AN 80-95 FOOT VARIABLE RIGHT-OF-WAY”; 

 LEGAL DESCRIPTION 

FILE NO. 1239099 
 PAGE 2 OF 2 

PARCEL 1 (CONT’D): 
 THENCE ALONG SAID
EASTERLY RIGHT-OF-WAY FOR ACADEMY PARK LOOP FOR THE FOLLOWING THREE COURSES: 
 NORTH 32 DEGREES 03 MINUTES 30 SECONDS EAST A DISTANCE OF 35.00
FEET TO A POINT OF CURVATURE; 
 THENCE 249.40 FEET ALONG A CURVE TO THE LEFT, HAVING A RADIUS OF 440.00 FEET, A CENTRAL ANGLE OF 32 DEGREES 28
MINUTES 39 SECONDS AND WHOSE CHORD BEARS NORTH 15 DEGREES 49 MINUTES 11 SECONDS EAST A DISTANCE OF 246.08 FEET TO A POINT OF TANGENCY; 
 THENCE
NORTH 00 DEGREES 25 MINUTES 09 SECONDS WEST A DISTANCE OF 100.37 FEET TO A POINT; 
 THENCE NORTH 89 DEGREES 34 MINUTES 51 SECONDS EAST A
DISTANCE OF 150.00 FEET TO A POINT; 
 THENCE SOUTH 00 DEGREES 25 MINUTES 09 SECONDS EAST A DISTANCE OF 40.00 FEET TO A POINT; 

THENCE NORTH 89 DEGREES 34 MINUTES 51 SECONDS EAST A DISTANCE OF 430.91 FEET 

TO A POINT ON THE WESTERLY RIGHT-OF-WAY FOR SOUTH ACADEMY BOULEVARD; 

THENCE SOUTH 00 DEGREES 25 MINUTES 09 SECONDS EAST A DISTANCE OF 526.50 FEET ALONG SAID WESTERLY RIGHT-OF-WAY FOR ACADEMY BOULEVARD TO A POINT;

 THENCE SOUTH 33 DEGREES 25 MINUTES 03 SECONDS WEST A DISTANCE OF 17.96 FEET TO THE TRUE POINT OF BEGINNING, 

COUNTY OF EL PASO, 
 STATE OF COLORADO.

 PARCEL 2: 
 NON-EXCLUSIVE EASEMENT
AND RIGHT-OF-WAY FOR VEHICULAR AND PEDESTRIAN INGRESS AND EGRESS, AS MORE PARTICULARLY DEFINED IN THAT CERTAIN LANDSCAPE AND FIRE LANE EASEMENT AGREEMENT RECORDED DECEMBER 21, 1983 IN BOOK 3816 AT PAGE 530, 

COUNTY OF EL PASO, 
 STATE OF COLORADO.

 EXHIBIT B 

THE PERSONAL PROPERTY 

As used herein, the following items are referred to as the “Personal Property”: 

All assets of Grantor, of every kind and nature, now existing and hereafter acquired and arising and wherever located, related to the
ownership or operation of the Land and Improvements, including without limitation, accounts, deposit or reserve accounts, commercial tort claims, letter of credit rights, chattel paper (including electronic chattel paper), documents, instruments,
investment property, general intangibles (including intangibles), software, goods, inventory, equipment, furniture and fixtures, all supporting obligations of the foregoing, and all cash and noncash proceeds and products (including without
limitation insurance proceeds) of the foregoing, and all additions and accessions thereto, substitutions therefor and replacements thereof, and including, without limitation, the following: 

(a) All apparatus, machinery, devices, fixtures, communication devices, systems and equipment, fittings, appurtenances, equipment,
appliances, furniture, furnishings, appointments, accessories, landscaping, plants and all other items of personal property located at the Land and/or the Improvements (as defined in the Mortgage, Security Agreement and Fixture Filing to which this
Exhibit B is attached) located on such Land (collectively the “Property”) or used in the operation or maintenance of the Property or any business or operation conducted thereon. All fixtures and equipment now or hereafter installed for use
in the operation of the buildings, structures and improvements now or hereafter on the Property, including but not limited to, all lighting, heating, cooling, ventilating, air-conditioning, plumbing, sprinkling, incinerating, refrigerating,
air-cooling, lifting, fire extinguishing, cleaning, entertaining, security, communicating and electrical and power systems, and the machinery, appliances, fixtures and equipment pertaining thereto, all awnings, ovens, stoves, refrigerators,
dishwashers, disposals, carpeting, switchboards, engines, motors, tanks, pumps, screens, storm doors and windows, shades, floor coverings, ranges, washers, dryers, disposals, cabinets, furniture, partitions, conduits, ducts and compressors, and all
elevators and escalators and the machinery and appliances, fixtures and equipment pertaining thereto, other than any such items that are owned by tenants of all or any portion of the Property; 

(b) Any and all revenues, receivables and income now owned or hereafter acquired and arising from or out of the Property and/or the
businesses and operations conducted thereon; 
 (c) Any and all other personal property of any kind, nature or description,
whether tangible or intangible, (including without limitation, any and all goods, accounts, contract rights, franchises, licenses, permits, chattel paper, money, documents, instruments and general intangibles) of Grantor arising from, relating to or
used in connection with the operation or maintenance of the Property, whether now owned or hereafter acquired, or in which Grantor now has or shall hereafter acquire any right, title or interest whatsoever (whether by bill of sale, lease,
conditional sales contract, or other title retention document or otherwise); 
  

 37 

 (d) All awards or payments, including interest thereon, that may heretofore and hereafter be
made with respect to the Property, whether from the exercise of the right of eminent domain or condemnation (including, without limitation, any transfer made in lieu of or in anticipation of the exercise of said rights), or for a change of grade, or
for any other injury to or decrease in the value of the Property; 
 (e) All refunds, rebates or credits in connection with a
reduction in real estate taxes and assessments charged against the Property as a result of tax certiorari or any application or proceedings for reduction; 

(f) All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right
to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property; 

(g) All accounts, escrows, impounds, reserves, documents, instruments, chattel paper, claims, deposits and general intangibles, as the
foregoing terms are defined in the Uniform Commercial Code, and all franchises, trade names, trademarks, symbols, service marks, books, records, plans, specifications, designs, drawings, permits, consents, licenses (including liquor licenses, to the
extent assignable), license agreements, operating contracts, contract rights (including, without limitation, any contract with any architect or engineer or with any other provider of goods or services for or in connection with any construction,
repair, or other work upon the Property) and all management, franchise, service, supply and maintenance contracts and agreements, and any other agreements, permits or contracts of any nature whatsoever now or hereafter obtained or entered into by
the Grantor with respect to the operation or ownership of the Property; and all approvals, actions, refunds of real estate taxes and assessments (and any other governmental impositions related to the Land); and all causes of action that now or
hereafter relate to, are derived from or are used in connection with the Property, or the use, operation, maintenance, occupancy or enjoyment thereof or the conduct of any business or activities thereon; and 

(h) All additions and accessories to any of the foregoing, all proceeds, products, offspring, rents and profits from any of the
foregoing, including, without limitation, those from sale, exchange, transfer, collection, loss, damage, renewal, disposition, substitution or replacement of any of the foregoing, and all of the books and records pertaining to any of the foregoing.

  

			
	 Secured Party:

Secured Party’s Address:
	  	 LaSalle Bank National Association

135 S. LaSalle Street, Suite 1225, Chicago, Illinois 60603

Attn: Real Estate Capital Markets Division

		
	 Grantor:

Grantor’s Address:
	  	 Peridot Properties I LLC, a Colorado limited liability company

1625 Larimer Street, #2005, Denver, Colorado 80202

		
	 Trustee:

Trustee’s Address:
	  	 The Public Trustee of EI Paso County

105 East Vermijo Avenue, Suite 101, Colorado Springs, Colorado 80903

 

 38 

 EXHIBIT C 

PENDING AND THREATENED LITIGATION 

Complaint and Jury Demand filed against Ed Warner in District Court, City and County of Denver, Colorado in case number 01CV4226.

 [See Paragraph 12(o)] 
  

 39 

 EXHIBIT D 

TENANTS-IN-COMMON AGREEMENT 
  

 40Loan Sale Agreement

 Exhibit 10.3 

 
  

LOAN SALE AGREEMENT 

(Academy Point) 

Dated and Effective as of September 7, 2010 

by and between 

Wells Fargo Bank, N.A., as Trustee for the 

Registered Holders of J.P. Morgan Chase 

Commercial Mortgage Securities Corp. Commercial 

Mortgage Pass-Through Certificates Series 2001-C1 

SELLER 
 and

 KBS SOR DEBT HOLDINGS II, LLC, 

a Delaware limited liability company 

BUYER 

  

TABLE OF CONTENTS 
  

					
	  	  	Page
	 ARTICLE 1- DEFINITIONS
	  	1
	 Section 1.1
	    	“Agreement”	  	1
	 Section 1.2
	    	“Assigned Rights and Obligations”	  	1
	 Section 1.3
	    	“Assignment and Assumption of Assigned Rights and Obligations”	  	1
	 Section 1.4
	    	“Business Day”	  	2
	 Section 1.5
	    	“Closing”	  	2
	 Section 1.6
	    	“Closing Date”	  	2
	 Section 1.7
	    	“Closing Documents”	  	2
	 Section 1.8
	    	“Collateral”	  	2
	 Section 1.9
	    	“Collateral Document”	  	2
	 Section 1.10
	    	“Deleted Documents”	  	2
	 Section 1.11
	    	“Deposit”	  	2
	 Section 1.12
	    	“Escrow”	  	2
	 Section 1.13
	    	“Escrow Holder”	  	2
	 Section 1.14
	    	“Loan”	  	2
	 Section 1.15
	    	“Loan Documents”	  	3
	 Section 1.16
	    	“Loan Note”	  	3
	 Section 1.17
	    	“Obligor”	  	3
	 Section 1.18
	    	“Purchase Price”	  	3
	 Section 1.19
	    	“Receiver”	  	3
	 Section 1.20
	    	“Receivership Action”	  	3
		
	 ARTICLE 2- PURCHASE AND SALE OF THE ASSIGNED RIGHTS
	  	3
	 Section 2.1
	    	Agreement to Sell and Purchase Assigned Rights and Obligations	  	3
	 Section 2.2
	    	Assignment and Assumption of Assigned Rights and Obligations	  	3
	 Section 2.3
	    	Consideration for Assigned Rights and Obligations	  	4
	 Section 2.4
	    	Deposit	  	4
	 Section 2.5
	    	Notice of Buyer Designee	  	4
	 Section 2.6
	    	Escrow	  	4
		
	 ARTICLE 3- REPRESENTATIONS, WARRANTIES AND COVENANTS OF BUYER
	  	4
	 Section 3.1
	    	Authorization and Compliance	  	4
	 Section 3.2
	    	Binding Obligation of Buyer	  	5
	 Section 3.3
	    	No Conflict With Other Agreements	  	5
	 Section 3.4
	    	No Further Consent Required	  	5
	 Section 3.5
	    	Independent Evaluation	  	5
	 Section 3.6
	    	Direction to Conduct Due Diligence	  	5
	 Section 3.7
	    	“AS-IS” Sale	  	5
	 Section 3.8
	    	No Further Reliance on Seller	  	6
	 Section 3.9
	    	Application to Designee	  	6
		
	 ARTICLE 4- REPRESENTATIONS AND WARRANTIES OF SELLER
	  	6
	 Section 4.1
	    	Seller Is Holder of Loan and Assumed Rights and Obligations	  	6

  

 -i- 

					
	 Section 4.2
	    	Disclaimer	  	6
	 Section 4.3
	    	Covenants of Seller Until Closing	  	7
		
	 ARTICLE 5- CONDITIONS PRECEDENT
	  	7
	 Section 5.1
	    	Conditions for the Benefit of Buyer, Including Due Diligence	  	7
	 Section 5.2
	    	Conditions for the Benefit of Seller	  	7
	 Section 5.3
	    	Failure or waiver of Conditions Precedent	  	8
		
	 ARTICLE 6- ESCROW AND CLOSING
	  	8
	    Section 6.1	    	Escrow	  	8
	    Section 6.2	    	Deposits by Buyer	  	8
	    Section 6.3	    	Deposits by Seller	  	9
	    Section 6.4	    	Delivery of Collateral Documents	  	9
	    Section 6.5	    	Closing Costs	  	9
	    Section 6.6	    	Prorations	  	9
	    Section 6.7	    	Foreclosure/Receiver	  	10
	    Section 6.8	    	Insured Collateral	  	10
	    Section 6.9	    	Title Insurance	  	10
		
	 ARTICLE 7- FILES AND RECORDS
	  	10
	    Section 7.1	    	Conformity to Law	  	10
	    Section 7.2	    	Inspection by Seller	  	10
		
	 ARTICLE 8- RELEASE AND INDEMNIFICATION OF SELLER
	  	10
	    Section 8.1	    	Environmental Issues	  	10
	    Section 8.2	    	Release of Seller	  	12
	    Section 8.3	    	Indemnification	  	12
	    Section 8.4	    	Collateral Materials	  	12
		
	 ARTICLE 9- BREACH OF THE AGREEMENT
	  	13
	    Section 9.1	    	Seller’s Breach	  	13
	    Section 9.2	    	Buyer’s Breach	  	14
	    Section 9.3	    	Liquidated Damages	  	14
	    Section 9.4	    	No Personal Liability	  	14
	    Section 9.5	    	Survival	  	14
	    Section 9.6	    	Damages Related To Collateral	  	14
		
	 ARTICLE 10- NOTICES
	  	14
		
	 ARTICLE 11- MISCELLANEOUS PROVISIONS
	  	15
	    Section 11.1	    	Waiver of Jury Trial	  	15
	    Section 11.2	    	Severability	  	16
	    Section 11.3	    	Rights Cumulative: Waivers	  	16
	    Section 11.4	    	Headings	  	16
	    Section 11.5	    	Construction	  	16
	    Section 11.6	    	Assignment	  	16
	    Section 11.7	    	Prior Understandings	  	16
	    Section 11.8	    	Integrated Agreement	  	16

  

 -ii- 

					
	    Section 11.9	    	Counterparts	  	16
	    Section 11.10	    	Survival	  	17
	    Section 11.11	    	Governing Law	  	17
	    Section 11.12	    	Expenses	  	17
	    Section 11.13	    	Publicity	  	17
	    Section 11.14	    	Brokers	  	17
	    Section 11.15	    	Effectiveness Of The Agreement	  	17
	    Section 11.16	    	Confidentiality	  	17
	    Section 11.17	    	Attorneys’ Fees	  	18
	    Section 11.18	    	Further Assurances	  	18
	    Section 11.19	    	Time of Essence	  	18

  

 -iii- 

 LOAN SALE AGREEMENT 

THIS LOAN SALE AGREEMENT (“Agreement”), is made and entered into as of September 7, 2010, by and between
Wells Fargo Bank, N.A., as Trustee for the Registered Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates Series 2001-C1 (“Seller”) and KBS SOR DEBT HOLDINGS II, LLC, a
Delaware limited liability company or its designee (“Buyer”). 
 RECITALS 

A. Seller is the holder of and wishes to sell the Loan (as defined in Article 1 below) on the terms and subject to the conditions set
forth herein. 
 B. Buyer, a sophisticated and experienced purchaser of commercial real estate and loans secured by real
property, wishes to purchase the Loan, all on the terms and subject to the conditions set forth herein. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the mutual promises herein set forth and other valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows: 
 ARTICLE 1 

DEFINITIONS 

For purposes of this Agreement, the following terms shall have the meanings indicated: 

Section 1.1 “Agreement” means this Loan Sale Agreement, including all Exhibits and Schedules hereto.

 Section 1.2 “Assigned Rights and Obligations” means Seller’s right, title and interest in,
to and under the Loan, the Loan Documents including, without limitation, (a) all of Seller’s rights to principal, interest, fees, costs and expenses payable thereunder after the Closing Date and all of Seller’s other rights and claims
thereunder (including all rights in any receivership estate which exists in connection with the Loan Documents); (b) all of Seller’s right, title and interest in, to and under that certain receivership action pending before the District
Court in the County of El Paso, Colorado, Case No. 2010CV3308; (c) all of Seller’s right, title and interest in, to and under that certain Rule 120 Action for Order Authorizing Sale , pending before the District Court in the County of
El Paso, Colorado, Case No. 2010CV4093; (d) all of Seller’s right, title and interest in, to and under that certain foreclosure proceeding with the Public Trustee for the County of El Paso, Colorado, Sale No. EPC201001348 and
(e) all of Seller’s right, title and interest in, to and under that certain action pending before the District Court in the County of El Paso, Colorado, Case No. 2010CV3797. 

Section 1.3 “Assignment and Assumption of Assigned Rights and Obligations” means the document to be
delivered on the Closing Date by Buyer and Seller, the form of which is attached 
  

 -1- 

 
hereto as Exhibit B, whereby Seller assigns to Buyer or Buyer’s designee, and Buyer or Buyer’s designee accepts and assumes from Seller, the Assigned Rights and
Obligations. 
 Section 1.4 “Business Day” means any day on which Seller is open for business other
than a Saturday, a Sunday or a Maryland state or Federal holiday. 
 Section 1.5 “Closing” means
the occurrence of all acts required by this Agreement to assign and transfer the Assigned Rights and Obligations from Seller to Buyer and for Buyer to accept and assume the Assigned Rights and Obligations from Seller. 

Section 1.6 “Closing Date” means the date five (5) Business Days from the Effective Date of this
Agreement, or such other date upon which Buyer and Seller may mutually agree. 
 Section 1.7 “Closing
Documents” means all documents described herein that are required to be delivered at the Closing by Seller or Buyer. 

Section 1.8 “Collateral” means the real and personal property, guaranty, pledge and/or other property
securing the Loan Note as described in the Loan Documents. 
 Section 1.9 “Collateral Document”
means the deed of trust, security agreement, UCC financing statements, guaranty, letter of credit, pledge, loan agreement and/or other instruments creating a security interest in, and/or a lien or encumbrance upon any of the Collateral.

 Section 1.10 “Deleted Documents” means certain agreements and other documentation that pertain
to all or a portion of the Loan Documents (including, without limitation, certain attorney/client correspondence, confidential or privileged information, internal analyses and memoranda, regulatory reports and internal assessments of valuation of
the Loan, the Loan Documents or the Collateral) that have been deemed legally privileged or otherwise inappropriate to include with the Loan Documents. 

Section 1.11 “Deposit” means the amount of Two Hundred Seventy-Seven Thousand Five Hundred and No/100
Dollars ($277,500.00) in cash to be deposited into Escrow by Buyer by wire transfer as required by Section 2.4, together with all interest which accrues thereon following the deposit thereof into Escrow. Escrow Holder shall invest the Deposit
in an interest bearing account reasonably acceptable to Seller and Buyer. The Deposit shall be deposited into Escrow as provided in Section 2.4 of this Agreement. 

Section 1.12 “Escrow” means the escrow to be opened with Escrow Holder in connection with this Agreement and
the transactions contemplated hereunder. 
 Section 1.13 “Escrow Holder” means First American Title
Insurance Company, whose address for this transaction is as follows: 1801 K Street, N.W., Suite 200-K, Washington, D.C., Attention: Richard Whelton. 

Section 1.14 “Loan” means (a) the obligation evidenced by the Loan Note, the Loan Documents and/or any
amendment thereto and (b) all rights, powers, liens or security interests of Seller in or under any Collateral Document. 
  

 -2- 

 Section 1.15 “Loan Documents” means all of the agreements,
certificates, legal opinions or other documents related to, or evidencing, the Loan, as obtained at the time of its origination and any subsequent modification, including, but not limited to, the Loan Note, the security agreement, loan agreement,
appraisals, guarantees, insurance certificates, borrower estoppel certification and subordination agreements for leases, financial statements and operating statements, credit reports, lender’s title insurance policy, engineering report, soils
report, environmental audit report and architect’s certificate as applicable to the Loan, and any notices of default or other documents or instruments relating to or evidencing any pending enforcement action by Seller, other than the Deleted
Documents, as set forth and listed in Exhibit A. 
 Section 1.16 “Loan
Note” means the Promissory Note dated October 22, 2001, evidencing the indebtedness of Peridot Properties I, LLC in the amount of $6,695,000.00, under the Loan described on Exhibit A hereto. 

Section 1.17”Obligor” means Peridot Properties I, LLC. 

Section 1.18 “Purchase Price” means the sum of Two Million Seven Hundred Seventy Five Thousand and 00/100
Dollars ($2,775,000.00). 
 Section 1.19 “Receiver” shall mean William J. Hybl, Jr. appointed as
receiver in the Receivership Action. 
 Section 1.20 “Receivership Action” shall mean that certain
action pending before the District Court in the County of El Paso, Colorado, Case No. 2010CV3797. 
 ARTICLE 2

 PURCHASE AND SALE OF THE ASSIGNED RIGHTS 

Section 2.1 Agreement to Sell and Purchase Assigned Rights and Obligations. On the Closing Date, Seller agrees to sell,
transfer and assign, and Buyer agrees to purchase and assume, the Assigned Rights and Obligations, on an “AS IS,” “WHERE IS” BASIS, “WITH ALL FAULTS” AND WITHOUT REPRESENTATIONS, EXPRESS OR IMPLIED, OF ANY TYPE, KIND,
CHARACTER OR NATURE (INCLUDING, WITHOUT LIMITATION, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE), AND WITHOUT WARRANTIES, EXPRESS OR IMPLIED, OF ANY TYPE, KIND, CHARACTER OR NATURE (INCLUDING, WITHOUT LIMITATION, MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE), EXCEPT THE LIMITED AND EXPRESS REPRESENTATIONS OF SELLER SET FORTH IN ARTICLE 4 HEREOF, AND WITHOUT RECOURSE OF ANY NATURE TO SELLER. 

Section 2.2 Assignment and Assumption of Assigned Rights and Obligations. On the Closing Date, Seller and Buyer shall each
deliver to Escrow Holder an Assignment and Assumption of Assigned Rights and Obligations, in the form of Exhibit B hereto, executed by an authorized representative of Seller and Buyer, which Assignment and Assumption of Assigned
Rights and Obligations shall sell, transfer, assign, set-over, convey and delegate to Buyer the Assigned Rights and Obligations. 
  

 -3- 

 Section 2.3 Consideration for Assigned Rights and Obligations. As consideration
for the transfers and assignments hereunder by Seller, Buyer shall pay the Purchase Price to Seller through Escrow and Buyer shall assume all of Seller’s obligations under the Assigned Rights and Obligations. On the Closing Date, Buyer shall
deposit in Escrow, by wire transfer of immediately available funds, the balance of the Purchase Price (net of the Deposit), together with any additional amounts payable by Buyer pursuant to the closing adjustments and prorations described in
Sections 6.5 and 6.6 hereof. 
 Section 2.4 Deposit. On the Closing Date, Buyer shall deliver the
Deposit into Escrow. The Deposit shall be applied to the Purchase Price upon Closing. If (a) the conditions precedent set forth in Section 5.1 shall have been satisfied or waived by Buyer, (b) Seller shall have performed fully
or tendered performance of its obligations hereunder and (c) Buyer shall be unable or fail to perform its obligations hereunder, then the entire amount of the Deposit shall be delivered by Escrow Holder to Seller as liquidated damages pursuant
to Section 9.3 
 Section 2.5 Notice of Buyer Designee. On or before the date that is fifteen (15) days
prior to the Closing, Buyer may designate to Seller in writing, at its sole discretion, an affiliated entity as designee to receive and assume the Assigned Rights and Obligations. If Buyer designates another entity to assume the Assigned Rights and
Obligations, Buyer nevertheless shall remain liable for all obligations of Buyer hereunder and thereunder, notwithstanding any such designation. 

Section 2.6 Escrow. Upon the execution of this Agreement by Buyer and Seller, and the acceptance of this Agreement by Escrow
Holder in writing, this Agreement shall constitute the joint escrow instructions of Buyer and Seller to Escrow Holder to open escrow (the “Escrow”) for the consummation of the transfer of the Assigned Rights and
Obligations to Buyer pursuant to this Agreement. Upon Escrow Holder’s receipt of the Deposit and Escrow Holder’s written acceptance of this Agreement, Escrow Holder is authorized to act in accordance with the terms of this Agreement. Buyer
and Seller shall promptly execute general escrow instructions based upon this Agreement at the request of Escrow Holder; provided, however, that if there is any conflict or inconsistency between such general escrow instructions and this Agreement,
this Agreement shall control. Upon the Closing, Escrow Holder shall pay any sum owed to Seller with immediately available United States federal funds. Upon execution of this Agreement, Seller shall provide Buyer with copies of all of the Loan
Documents and the Collateral Documents. 
 ARTICLE 3 

REPRESENTATIONS, WARRANTIES AND COVENANTS OF BUYER 

Buyer hereby represents, warrants and covenants as of the date hereof and as of the Closing Date that: 

Section 3.1 Authorization and Compliance. Buyer is duly and legally authorized to enter into this Agreement and has complied
with all laws, rules, regulations, charter provisions and bylaws to which it may be subject and that the undersigned representative is authorized to act on behalf of and bind Buyer to the terms of this Agreement. Upon the execution hereof, or with
reasonable promptness thereafter (with regard to any requested good standing certificate only), Buyer will supply Seller with a certified copy of a resolution of its Board of Directors, Partners, or Members as the case may be, authorizing
Buyer’s entry into this Agreement through such 
  

 -4- 

 
representative, together with such documents as Seller may reasonably require as evidence of the Buyer’s good standing or as further evidence of such authority. 

Section 3.2 Binding Obligation of Buyer. Assuming due authorization, execution and delivery by each other party hereto, this
Agreement and all of the obligations of Buyer hereunder are the legal, valid and binding obligations of Buyer, enforceable in accordance with the terms of this Agreement, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general equity principles (regardless of whether such enforcement is considered in a proceeding in equity or at law). 

Section 3.3 No Conflict With Other Agreements. The execution and delivery of this Agreement and the performance of its
obligations hereunder by Buyer will not conflict with any provision of any law or regulation to which Buyer is subject or conflict with or result in a breach of or constitute a default of any of the terms, conditions or provisions of any agreement
or instrument to which Buyer is a party or by which it is bound or any order or decree applicable to Buyer. 
 Section 3.4
No Further Consent Required. Buyer is not required to obtain the consent of any other party or any consent, license, approval or authorization from, or registration or declaration with, any governmental authority, bureau or agency in
connection with Buyer’s execution, delivery, or performance of this Agreement, except such as have been obtained. 

Section 3.5 Independent Evaluation. Buyer’s decision to purchase the Loan and assume the Assigned Rights and Obligations
pursuant to this Agreement is or will be based upon Buyer’s own independent evaluation of the information made available by Seller, and Buyer’s independent evaluation of the Loan Documents, Collateral Documents, Collateral, tenant lease
and related information which Buyer acknowledges and agrees that Seller has advised Buyer will be made available to it and that Buyer will be given the opportunity to inspect. Buyer will rely solely on its own investigation and will not rely upon
any oral or written information provided by Seller or its personnel or agents and acknowledges that no employee or representative of Seller has been authorized to make, and that Buyer has not relied upon, any statements, other than those
specifically contained in this Agreement. 
 Section 3.6 Direction to Conduct Due Diligence. Buyer has been urged,
invited and directed to conduct such due diligence review and analysis of the Collateral, Loan Documents, Collateral Documents and related information, together with such records as are generally available to the public from local, county, state and
federal authorities, record-keeping offices and courts (including, without limitation, any bankruptcy courts in which Obligor, its guarantor or surety, if any, may be subject to any pending bankruptcy proceedings), as Buyer deemed necessary, proper
or appropriate in order to make a complete, informed decision with respect to the purchase and acquisition of the Assigned Rights and Obligations. 

Section 3.7 “AS-IS” Sale. Buyer acknowledges and agrees that, except as provided in Article 4, Seller has not and
does not represent, warrant or covenant any condition or status of the Collateral or the nature, accuracy, or completeness of any of the Loan Documents and/or Collateral Documents or of the financial condition or status of the Obligor or the
Collateral. Except as provided in Article 4, all documentation, information, analysis and/or correspondence, if any, which is or may be sold, transferred, assigned and conveyed to Buyer with respect to the

  

 -5- 

 
Collateral or the Loan is sold, transferred, assigned and conveyed to Buyer on an “as is, where is” basis, with all faults. 

Section 3.8 No Further Reliance on Seller. Except for Seller’s compliance with this Agreement, Buyer is not relying upon
the continued actions or efforts of Seller in connection with its decision to purchase the Loan and to purchase and assume the Assigned Rights and Obligations, and Buyer agrees that, because of its sophistication and status, the representations made
herein and other valid reasons and the purchase of the Loan, the Assigned Rights and Obligations does not constitute the purchase of securities within the meaning of federal or state securities laws. 

Section 3.9 Application to Designee. If Buyer designates an affiliate to receive and assume the Assigned Rights and
Obligations pursuant to Section 2.5, all of the representations, warranties and covenants of Buyer contained in this Article 3 shall be deemed remade and to apply to Buyer’s designee as if the name of Buyer’s designee were
substituted in place of Buyer in each instance other than the preamble to Article 3. 
 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES OF SELLER 

Section 4.1 Seller Is Holder of Loan and Assigned Rights and Obligations. Seller hereby represents and warrants as of the
date hereof and as of the Closing Date, that (a) Seller has the authority and right to enter into this Agreement and sell and assign the Assigned Rights and Obligations to Buyer; (b) Seller is presently the sole holder and beneficiary
under all of the Loan Documents, and has not assigned, pledged, promised, encumbered or otherwise transferred any interest in the Loan or any of the Loan Documents to any other person or party; (c) the copies of the Loan Documents and the
Collateral Documents provided by Seller to Buyer are true and complete copies thereof, and to the best of its knowledge, each of such instruments is in full force and effect, and binding and unmodified in accordance with their terms; and (d) to
Seller’s actual knowledge, based solely upon the statement of the Master Servicer for the Loan attached as Exhibit D (the “Master Servicer Statement”), the principal balance of the Loan and the interest paid to
date and the escrowed amounts held by the Master Servicer for the Loan are as set forth on the Master Servicer Statement. The foregoing representations and warranties shall survive the closing of the purchase under this Agreement and shall survive
the recordation of the Assignment of Deed of Trust. 
 Section 4.2 Disclaimer. EXCEPT FOR THOSE EXPRESSED IN
SECTION 4.1, NO WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, HAVE BEEN MADE BY SELLER OR BY ANYONE ACTING ON ITS BEHALF, PARTICULARLY, BUT WITHOUT IN ANY WAY LIMITING THE GENERALITY OF THE FOREGOING, NO WARRANTIES OR REPRESENTATIONS
REGARDING (i) THE COLLECTABILITY OF THE LOAN, (ii) THE CREDITWORTHINESS OF ANY OBLIGOR, (iii) THE VALUE OF ANY COLLATERAL SECURING PAYMENT OF THE LOAN, (iv), THE LOAN’S FREEDOM FROM LIENS AND ENCUMBRANCES, IN WHOLE OR IN PART,
(v) THE TRANSFERABILITY AND ENFORCEABILITY OF THE LOAN NOTE AND COLLATERAL DOCUMENTS SUPPORTING THE LOAN, OR (vi) TITLE TO OR THE CONDITION OF THE UNDERLYING COLLATERAL INCLUDING BUT NOT LIMITED TO ANY ENVIRONMENTAL MATTER OR CONDITION,
WHETHER LATENT OR OBSERVABLE. EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT, THE LOAN SOLD AND 
  

 -6- 

 
THE RIGHTS AND OBLIGATIONS ASSIGNED TO AND ASSUMED BY BUYER UNDER THIS AGREEMENT ARE SOLD AND TRANSFERRED WITHOUT RECOURSE. 

Section 4.3 Covenants of Seller Until Closing. Until Closing, Seller shall (i) cause the Loan to be serviced in
materially the same manner as the Loan was serviced prior to the date hereof, (ii) not amend, terminate, or waive any rights under the Loan Documents and/or the Collateral Documents, and (iii) deliver Buyer copies of any notices Seller
receives from the Borrower or Obligor with respect to the Loan or the Collateral. 
 ARTICLE 5 

CONDITIONS PRECEDENT 

Section 5.1 Conditions for the Benefit of Buyer, Including Due Diligence. Notwithstanding anything in this Agreement to the
contrary, Buyer’s obligation to purchase and assume the Assigned Rights and Obligations shall be subject to and contingent upon the satisfaction (or waiver by Buyer) of each of the following conditions precedent, prior to or on the Closing
Date: 
 (a) All Closing Documents necessary to consummate the transactions contemplated in this Agreement shall have been
executed and delivered by Seller as required by this Agreement. 
 (b) There shall not have been any material damage or
destruction to the Collateral from the condition of the Collateral as it existed upon the Effective Date of this Agreement. 

(c) Neither Buyer nor Seller shall have terminated this Agreement pursuant to the terms of this Agreement. 

(d) Each and every representation and warranty of Seller contained in this Agreement shall be true and correct in all material respects
as of the Closing Date. 
 (e) Escrow Holder’s title department shall be irrevocably committed to issue to Buyer a
lender’s policy of title insurance, insuring that the deed of trust which secures the Loan is a first lien priority deed of trust, and showing no other monetary liens or encumbrances affecting title to the Collateral or at Buyer’s option
the title company which issued the existing title policy shall be prepared to issue an endorsement to the existing title policy providing that the assignment of deed of trust does not effect, impair or modify the existing title policy. 

Section 5.2 Conditions for the Benefit of Seller. Notwithstanding anything in this Agreement to the contrary, Seller’s
obligation to sell and assign the Assigned Rights and Obligations shall be subject to and contingent upon the satisfaction (or waiver by Seller) of the following conditions precedent prior to or on the Closing Date: 

(a) Payment of the Purchase Price, plus sufficient funds to pay Buyer’s share of all escrow costs, prorations and closing expenses
as set forth in Sections 6.5 and 6.6 below, to Seller at the Closing. 
  

 -7- 

 (b) All Closing Documents necessary to consummate the transaction as contemplated in this
Agreement shall have been executed and delivered by Buyer as required by this Agreement. 
 (c) Neither Buyer nor Seller shall
have terminated the Agreement pursuant to the terms of this Agreement. 
 (d) Each and every representation and warranty of
Buyer contained in this Agreement shall be true and correct as and when made and as of the Closing Date in all material respects. 

Section 5.3 Failure or waiver of Conditions Precedent. In the event any of the conditions set forth in
Section 5.1 or 5.2 do not occur as of the Closing Date, or such earlier date as set forth above, or have not been waived in writing by Buyer or Seller, respectively, the party for whose benefit the failed condition exists may
terminate this Agreement by written notice to the other party, the Deposit will be returned to Buyer, and neither party shall have any further obligation to the other, other than as stated in the Agreement. Buyer and Seller may, at their election,
at any time or times on or before the Closing Date, waive in writing the benefit of any of the conditions set forth in Section 5.1 or 5.2. A party’s waiver of any condition to the Closing shall not constitute a waiver by that
party of any other unsatisfied conditions, or of such party’s right to terminate this Agreement based on said other unsatisfied conditions, unless such waiver is specified in writing by such party. Buyer and Seller agree to cooperate and to use
all reasonable efforts to fulfill the conditions set forth herein. 
 ARTICLE 6 

ESCROW AND CLOSING 

Section 6.1 Escrow. The Escrow contemplated by this Agreement shall be opened by Buyer and Seller with Escrow Holder in
accordance with Sections 2.4 and 2.6 herein. On the Closing Date, Seller and Buyer shall deliver such additional joint escrow instructions to Escrow Holder consistent with this Article 6 as are reasonably required by Escrow Holder. The
Closing shall, at Seller’s election, be either by telephone, confirmed by letter or wire or conducted in person at the place designated by Seller and reasonably acceptable to Buyer. 

Section 6.2 Deposits by Buyer. Buyer shall deposit or cause to be deposited into Escrow: 

(a) The Deposit; 

(b) the Purchase Price, net of the Deposit, plus sufficient funds to pay Buyer’s share of all Escrow costs, prorations and closing
expenses as set forth in Sections 6.5 and 6.6 below by means of a wire transfer to Escrow Holder of U. S. Dollars in immediately available federal funds; and 

(c) a counterpart Assignment and Assumption of Assigned Rights and Obligations, executed by Buyer. 

 

 -8- 

 Section 6.3 Deposits by Seller. Seller shall deposit in Escrow the following:

 (a) a counterpart Assignment and Assumption of Assigned Rights and Obligations, executed by Seller; 

(b) an assignment of Seller’s beneficial interest under the Deed of Trust in the form of Exhibit C to Buyer
(“Assignment of Beneficial Interest”), executed and acknowledged by Seller; 
 (c) a UCC-3 statement assigning
Seller’s security interest created pursuant to the UCC-1 to Buyer (“UCC-3”) or written authorization from Seller pursuant to which Buyer can prepare and file the UCC-3; and 

(d) the original Loan Note endorsed to the order of Buyer or Buyer’s designee, without recourse, representation or warranty
pursuant to the Allonge in the form of Exhibit E. 
 Section 6.4 Delivery of Collateral Documents. Seller agrees to
deliver to Buyer or Buyer’s designee on or immediately following the Closing Date each original Collateral Document and Loan Document (or copies if originals are not available) in Seller’s and/or its agent’s and/or
representative’s possession affecting the Loan. 
 Section 6.5 Closing Costs. Seller and Buyer shall each pay
the fees and expenses of their respective legal counsel incurred in connection with this transaction. Escrow Holder’s fees for serving as escrow agent shall be paid one-half by Buyer and one-half by Seller. Buyer shall pay all other title and
escrow costs and expenses related to the transaction. Seller shall not bear the cost of any recordation fees and/or taxes associated with selling, transferring, and assigning the Loan, including, without limitation, recording an assignment of the
mortgage or deed of trust which secures the Loan, assignments of any financing statements, and any fees and/or taxes associated with other transfer documents which are to be recorded in connection with the transactions contemplated hereby. Except
for Seller’s share of costs set forth in this Section 6.5, the Purchase Price shall be absolutely net to Seller, and there shall be no prorations except as provided in Section 6.6 below. On or before the Closing Date,
Buyer agrees to deposit with Escrow Agent cash in an amount sufficient to pay all costs to be paid by Buyer with respect to the Closing. Any funds impounded or held in escrow by Seller for the benefit of Obligor shall be retained by Seller.

 Section 6.6 Prorations Payments of principal and/or interest payable pursuant to the Loan or any of the Loan
Documents shall be the property of Seller and shall not be prorated as between Buyer and Seller if received by Seller on or before the Closing Date. Buyer shall not be entitled to any principal or interest paid prior to the Closing Date and
attributable to the period after the Closing Date. There shall be no proration of amounts due and payable for the period prior to the Closing Date which have not been paid by Obligor. Prior to Closing both parties shall sign a closing statement. To
the extent Seller or any Related Persons of Seller (defined below) receives any such payments with respect to the Loan after the Closing Date, all such amounts shall be paid to the Buyer within ten (10) days after receipt. Notwithstanding the
foregoing, the Buyer will 
  

 -9- 

 
receive a $12,500.00 credit to be applied to the Purchase Price with respect to an outstanding mechanics lien claim against the Collateral. 

Section 6.7 Foreclosure/Receiver. The Buyer and Seller agree and acknowledge that the Receiver Action has been filed against
Obligor, Buyer will take the necessary actions to substitute into the Foreclosure Action, as Plaintiff. Seller agrees to cooperate with Buyer, as necessary, to have Buyer substitute, as Plaintiff into the Receiver Action. The Seller has advanced
certain funds to the Receiver. Seller shall be responsible for any operating expenses (excluding real property taxes) and receiver fees up to and including the Closing Date (“Seller’s Expenses”). The Buyer shall be responsible for any
operating expenses or receivership costs incurred after the Closing Date. Any funds held by receiver on the Closing Date which are not used to pay Seller expenses shall, on or after Closing Date, be returned to Seller. 

Section 6.8 Insured Collateral. Buyer is responsible for having itself substituted as loss payee on any collateral risk
insurance in which Seller is currently listed as a loss payee. Any loss after the Closing to either Obligor or to Buyer or to the value or collectability of the Loan due to Seller’s cancellation of collateral risk insurance or its failure to
identify Buyer as loss payee is the sole responsibility of Buyer. 
 Section 6.9 Title Insurance. Seller shall have
no responsibility for and shall have no obligation to pay any costs associated with transferring and obtaining any endorsements to any existing title policy or new title policy in connection with this transaction. Seller makes no assurance regarding
the availability of any endorsements or accuracy or enforceability of any existing title policy. 
 ARTICLE 7 

FILES AND RECORDS 

Section 7.1 Conformity to Law. Buyer agrees to abide by all applicable state and federal laws, rules and regulations
regarding the handling and maintenance of all documents and records relating to the Loan purchased hereunder including, but not limited to, the length of time such documents and records are to be retained. 

Section 7.2 Inspection by Seller. After the transfer of documents or files to Buyer pursuant to the terms of this Agreement,
Buyer agrees that Seller shall have the continuing right to use, inspect, and make extracts from or copies of any such documents or records, in connection with any dispute or litigation related to the Collateral or the Loan in which Seller is a
party, upon Seller’s reasonable notice to Buyer. Buyer further agrees to allow Seller the temporary possession, custody and use of original documents for any lawful purpose and upon reasonable terms and conditions. Before destruction or
disposition of any documents or files transferred hereunder, Buyer agrees to give reasonable notice to Seller and to allow Seller, at its own delivery expense, to recover the same from Buyer, but shall have no liability for failure to do so.

 ARTICLE 8 

RELEASE AND INDEMNIFICATION OF SELLER 

Section 8.1 Environmental Issues. Buyer expressly acknowledges that there may be certain environmental issues, risks,
liabilities and/or contaminations with respect to the Collateral 
  

 -10- 

 
securing the payment of the Loan Note. BUYER FURTHER ACKNOWLEDGES AND AGREES THAT SELLER HAS ADVISED BUYER THAT BUYER WILL BE GIVEN THE OPPORTUNITY TO INSPECT THE ENVIRONMENTAL ASSESSMENTS, IF
ANY, HELD BY SELLER, AND THAT BUYER WILL BE RELYING SOLELY ON ITS OWN INVESTIGATIONS (OR HAS DECIDED TO PROCEED AT ITS OWN RISK WITHOUT ANY SUCH INVESTIGATIONS EVEN THOUGH SELLER HAS RECOMMENDED SUCH INVESTIGATIONS) OF THE COLLATERAL, AND BUYER
HEREBY WAIVES, RELEASES AND AGREES NEVER TO ASSERT ANY RIGHTS OR CLAIMS AGAINST SELLER, OR ANY OF ITS AFFILIATES OR REPRESENTATIVES (INCLUDING, BUT NOT LIMITED TO, ANY RIGHT OR CLAIM FOR INDEMNIINCATION, REIMBURSEMENT OR CONTRIBUTION) ARISING FROM
OR RELATED TO THE COLLATERAL OR ANY ENVIRONMENTAL REQUIREMENTS (AS DEFINED BELOW) OR ANY HAZARDOUS MATERIALS (AS DEFINED BELOW) ON, UNDER, ABOUT OR AROUND THE COLLATERAL, EXCEPT FOR CLAIMS OR CAUSES OF ACTION ARISING BY REASON OF SELLER’S
BREACH OF THIS AGREEMENT. For purposes of this Agreement, the term “Hazardous Materials” means any substance which is or contains: (i) any “hazardous substance” as now or hereafter defined in the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, as amended (42 U.S.C. §960 1 et seq.) (“CERCLA”) or any regulations promulgated under CERCLA; (ii) any “hazardous waste” as now or hereafter defined in the
Resource Conservation and Recovery Act (42 U.S.C. §9601 et seq.) (“RCRA”) or regulations promulgated under RCRA; (iii) any substance regulated by the Toxic Substances Control Act (15 U.S. C. §260 1 et seq.);
(iv) gasoline, diesel fuel, or other petroleum hydrocarbons; (v) asbestos and asbestos 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 Environmental Requirements (as defined below) or the common law, or any other applicable laws relating to the Collateral. Hazardous
Materials shall include, without limitation, any substance, the presence of which on the Collateral, (A) requires reporting, investigation or remediation under Environmental Requirements; (B) causes or threatens to cause a nuisance on the
Collateral or adjacent property or poses or threatens to pose a hazard to the health or safety of persons on the Collateral or adjacent property; or (C) which, if it emanated or migrated from the Collateral, could constitute a trespass. For
purposes of this Agreement, the term “Environmental Requirements” means all laws, ordinances, statutes, codes, rules, regulations, agreements, judgments, orders, and decrees, now or hereafter enacted, promulgated, or amended, of the United
States, the states, the counties, the cities, or any other political subdivisions in which the Collateral is located, and any other political subdivision, agency or instrumentality exercising jurisdiction over the owner or operator of the
Collateral, or the use of the Collateral, 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 or Hazardous Materials into the environment (including, without limitation, ambient air, surface water, ground water or land or soil). 

Section 8.2 Release of Seller. Buyer hereby releases and forever discharges Seller, its agents, servants, directors,
officers, employees, servicers, attorneys, successors, assigns and affiliates (all such persons being collectively referred to as the “Related Persons”), of and from any and all causes of action, claims, demands and remedies of
whatsoever kind and nature that Buyer has or may in the future have against Seller or any Related Persons, and in any manner on account of, arising out of or related to the Loan purchased and the rights assigned hereunder

  

 -11- 

 
except for claims or causes of action arising by reason of Seller’s breach of this Agreement (the “Released Matters”). It is the intention of Buyer that the foregoing
general release shall be effective as a bar to all actions, causes of action, suits, claims or demands of every kind, nature or character whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, arising out of or in connection
with the Released Matters. 
 Section 8.3 Indemnification. Subject to the provisions of Section 8.3
(c): (a) Buyer hereby agrees to indemnify, hold harmless and defend Seller and all Related Persons (collectively, the “Indemnified Parties”), and each of them, from and against any and all losses, causes of action,
liabilities, claims, demands, obligations, damages, costs and expenses, including reasonable attorneys’ and accountants’ fees and costs, to which any of the Indemnified Parties may become subject on account of, arising out of, or related
to any act, omission, conduct or activity of Buyer or any of its officers, directors, employees, agents, attorneys, servants, shareholders, successors or assigns, on account of, arising out or related to (i) this Agreement, including, without
limitation, the exercise of Buyer’s due diligence rights hereunder, (ii) the Loan purchased, the rights assigned and the obligations assumed hereunder, and (iii) the use, ownership, control, operation or condition of Collateral
securing the Loan purchased hereunder, including without limitation, the presence or release of any Hazardous Materials or any other hazardous or toxic fluids, substances or materials on, under or about such Collateral. 

(b) Promptly after receipt by an Indemnified Party of notice of the commencement of any action to which this Section 8.3
shall apply, the Indemnified Party shall notify Buyer in writing of the commencement of such action and of the possibility of a claim by the Indemnified Party against Buyer under this Section; however, failure of the Indemnified Party to so notify
Buyer will not relieve Buyer of liability hereunder. Buyer shall be entitled to participate in such action and may, with the consent of the Indemnified Party, assume the defense of such action with counsel selected by Buyer with the approval of the
Indemnified Party. After Buyer’s assumption of the defense, Buyer shall not be liable for any legal expenses subsequently incurred by the Indemnified Party in connection with the defense of such action, unless (i) such expenses are
incurred with the prior written approval of Buyer, or (ii) if the Indemnified Party reasonably determines that its interests may be adverse in whole or in part to those of Buyer and that there may be legal defenses available to the Indemnified
Party that are different from, in addition to or inconsistent with defenses available to Buyer, in which case the Indemnified Party may retain its own counsel and be indemnified by Buyer for all legal and other expenses and costs reasonably incurred
in connection with the investigation and defense of the action. 
 (c) Buyer shall not be liable for the settlement of any
action if such settlement is effected without Buyer’s express written consent, which shall not be unreasonably withheld or delayed. If any action is settled with Buyer’s written consent or if there is a final judgment against the
Indemnified Party in any action, Buyer shall indemnify, hold harmless and defend the Indemnified Party from and against all loss or liability incurred by reason of such settlement or judgment. 

Section 8.4 Collateral Materials. Seller has provided Buyer certain asset summaries and other information and has provided
Buyer access to certain other materials and information, which may have included certain loan documents, title reports, file reviews, internal analyses and memoranda, correspondence, environmental assessments, inspection reports, operating
statements, rent rolls, surveys, engineering reports, and/or appraisals relating to the Collateral and 
  

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certain financial statements, credit reports, operating statements, internal analyses and memoranda and other information regarding the financial condition, management ability and other aspects
of the Obligor, including, without limitation, those certain items described in Exhibit A hereto (the above described asset summaries, materials and other documents, information and reports listed on Exhibit A
are referred to herein as the “Collateral Materials”). BUYER UNDERSTANDS AND ACKNOWLEDGES THAT, ALTHOUGH SELLER HAS ATTEMPTED TO PROVIDE BUYER ACCESS TO INFORMATION IN SELLER’S POSSESSION WHICH SELLER BELIEVED COULD
BE RELEVANT, THE COLLATERAL MATERIALS WERE NOT PREPARED FOR BUYER OR TO BE RELIED UPON BY BUYER, EXCEPT AS SET FORTH IN SECTION 4.1 ABOVE, THAT THEY MAY BE INCOMPLETE AND OUTDATED AND MAY CONTAIN ERRORS, OMISSIONS, AND INACCURATE AND CONFLICTING
INFORMATION, AND THAT SELLER HAS NOT ATTEMPTED TO VERIFY, CORRECT OR RECONCILE THE INFORMATION IN THE COLLATERAL MATERIALS. EXCEPT AS SET FORTH IN SECTION 4.1 ABOVE, BUYER UNDERSTANDS AND ACKNOWLEDGES THAT ANY COLLATERAL REPORT WHICH MAY BE PROVIDED
BY SELLER IS BEING PROVIDED WITHOUT REPRESENTATION OR WARRANTY AS TO THE COMPLETENESS, ACCURACY OR SUFFICIENCY OF THE FACTS, ASSUMPTIONS OR CONCLUSIONS CONTAINED THEREIN; AND BUYER HEREBY WAIVES, RELEASES AND AGREES NEVER TO ASSERT ANY CLAIMS
AGAINST SELLER, ITS RESPECTIVE REPRESENTATIVES OR THE PREPARERS OF THE COLLATERAL MATERIALS WHICH COULD BE ALLEGEDLY BASED UPON RELIANCE ON THE COLLATERAL MATERIALS. BUYER HAS BEEN AND IS HEREBY EXPRESSLY ADVISED BY SELLER TO CONDUCT AN INDEPENDENT
INVESTIGATION WITH RESPECT TO THE IDENTIFICATION AND SUFFICIENCY OF THE COLLATERAL, THE VALUE AND CONDITION OF THE COLLATERAL, THE LIEN PRIORITY AND PERFECTION OF THE LOAN DOCUMENTS (INCLUDING, WITHOUT LIMITATION, OBTAINING TITLE SEARCHES AND/OR, IF
OBTAINABLE, LENDER’S TITLE POLICY ENDORSEMENTS OR NEW LENDER’S TITLE POLICIES IN CONNECTION WITH THE COLLATERAL), THE FINANCIAL CONDITION AND MANAGEMENT ABILITY OF THE OBLIGOR, THE VALIDITY AND ENFORCEABILITY OF THE LOAN DOCUMENTS AND ALL
OTHER MATTERS) WHICH COULD AFFECT THE COLLECTIBILITY AND VALUE OF THE LOAN NOTE AND OTHER LOAN DOCUMENTS, THE ASSIGNED RIGHTS AND OBLIGATIONS EXCEPT FOR CLAIMS OR CAUSES OF ACTION ARISING BY REASON OF SELLER’S BREACH OF THIS AGREEMENT.

 ARTICLE 9 

BREACH OF THE AGREEMENT 

Section 9.1 Seller’s Breach. If Seller breaches this Agreement, the breach is discovered prior to Closing by Buyer and
Buyer proceeds to close the transactions contemplated hereunder, Buyer shall have waived any and all damages resulting from Seller’s breach. If Seller breaches this Agreement and Buyer does not close the transactions contemplated hereunder,
Seller shall be allowed a reasonable opportunity to cure the breach. If the breach cannot be cured Buyer may, at Buyer’s option, pursue all of Buyer’s rights and remedies that Buyer may have under this Agreement and at law; provided that
Buyer hereby waives any and all rights it may have in law or equity to record a Notice of Pendency of Action on the title of any of the Collateral. In addition, 

 

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Buyer may not recover any consequential or punitive damages resulting from Seller’s breach of the Agreement. Buyer’s damages for such breach may not exceed the amount of the Deposit.

 Section 9.2 Buyer’s Breach. If Buyer defaults under this Agreement or under the terms of a Confidentiality
Agreement executed in connection herewith, Seller’s sole and exclusive remedy at law shall be to terminate this Agreement and to retain the Deposit in accordance with Section 2.4 and 9.3 

Section 9.3 Liquidated Damages. BUYER AND SELLER ACKNOWLEDGE AND AGREE THAT (a) IT WOULD BE IMPRACTICAL OR EXTREMELY
DIFFICULT TO DETERMINE SELLER’S ACTUAL DAMAGES IN THE EVENT OF BUYER’S DEFAULT UNDER THIS AGREEMENT, AND (b) TAKING INTO ACCOUNT ALL OF THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, THE DEPOSIT IS A REASONABLE ESTIMATE OF
SELLER’S ACTUAL DAMAGES IN SUCH EVENT. CONSEQUENTLY, IN THE EVENT OF BUYER’S DEFAULT UNDER THIS AGREEMENT, SELLER’ S SOLE AND EXCLUSIVE REMEDY AT LAW SHALL BE TO TERMINATE THIS AGREEMENT AND TO RECEIVE AND RETAIN THE DEPOSIT.

  

							
	Initials:	 		 		 	
	  
	 		 	  
	 	
	Buyer	 		 	Seller	 	

 Section 9.4 No Personal Liability. In no event shall any shareholder, director,
partner or officer of Buyer, Seller or a Related Person be personally liable for any obligations of Seller or Buyer, as applicable under this Agreement. 

Section 9.5 Survival. The parties agree that Seller’s and Buyer’s warranties and representations contained in this
Agreement and in any document (including any certificate) executed pursuant to this Agreement shall survive the Closing 

Section 9.6 Damages Related To Collateral. Except for claims or causes of action arising by reason of Seller’s breach of
this Agreement. Seller shall have no liability to Buyer with respect to any damage deriving from or related to the Collateral. 

ARTICLE 10 

NOTICES 

Unless otherwise provided for herein, all notices and other communications required or permitted hereunder shall be in writing (including
a writing delivered by facsimile transmission and simultaneously sent by regular mail) and shall be deemed to have been duly given (a) when delivered, if sent by registered or certified mail (return receipt requested), (b) when delivered,
if delivered personally or by facsimile or (c) on the second following Business Day, if sent by overnight mail or overnight courier, in each case to the parties at the following addresses (or at such other addresses as shall be specified by
like notice): 
  

			
		
	If to the Seller:	    	Wells Fargo Bank, N.A., as Trustee for the Registered Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp.

 

 -14- 

			
		
		    	Commercial Mortgage Pass-Through Certificates Series 2001-C1
		    	c/o CWCapital Asset Management LLC
		    	701
13th Street, NW, Suite 1000
		    	Washington, DC 20005
		    	Attention: Scott Fishkind
		    	Fax No.: 202-715-9699
		
	With a copy to:	    	Perkins Coie LLP
		    	2001 Ross Avenue, Suite 4225
		    	Dallas, Texas 75201
		    	Attention: Steven R. Smith
		    	Fax No.: 214-965-7760
		
	If to the Buyer:	    	KBS Capital Advisors, LLC
		    	11150 Santa Monica Blvd., Suite 400
		    	Los Angeles, CA 90025
		    	Attention: James Rodgers
		    	Fax No.: 310-432-2119
		
		    	and
		
		    	KBS Capital Advisors, LLC
		    	620 Newport Center Drive, Suite 1300
		    	Newport Beach, CA 92660
		    	Attention: Brian Ragsdale
		    	Fax No.: 949-417-6518
		
	With a copy to:	    	Morgan, Lewis & Bockius LLP
		    	5 Park Plaza, Suite 1750
		    	Irvine, CA 92614
		    	Attention: Scott A. Morehouse and L. Bruce Fischer
		    	Fax No.: 949-399-7001

 ARTICLE 11

 MISCELLANEOUS PROVISIONS 

Section 11.1 Waiver of Jury Trial. WITHOUT LIMITATION OF ANY OTHER COVENANT, RELEASE, REPRESENTATION OR WARRANTY OF BUYER OR
ANY RIGHT OR REMEDY OF SELLER UNDER THIS AGREEMENT, AT LAW OR IN EQUITY, BUYER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT THAT BUYER MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION OR PROCEEDING ARISING IN ANY WAY IN CONNECTION
WITH THIS AGREEMENT, ANY OF THE DOCUMENTS EXECUTED PURSUANT THERETO OR HERETO OR IN CONNECTION THEREWITH OR HEREWITH OR ANY OTHER STATEMENTS OR ACTIONS OF SELLER. BUYER ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT FOR SELLER TO ENTER INTO
THIS AGREEMENT AND 
  

 -15- 

 
EACH SUCH DOCUMENT, AND THAT THIS WAIVER SHALL BE EFFECTIVE AS TO EACH OF THE DOCUMENTS AS IF FULLY INCORPORATED THEREIN. 

Section 11.2 Severability. Each part of this Agreement is intended to be severable. If any term, covenant, condition or
provision hereof is unlawful, invalid, or unenforceable for any reason whatsoever, and such illegality, invalidity, or unenforceability does not affect the remaining parts of this Agreement, then all such remaining parts hereof shall be valid and
enforceable and have full force and effect as if the invalid or unenforceable part had not been included. 
 Section 11.3
Rights Cumulative: Waivers. The rights of each of the parties under this Agreement are cumulative and may be exercised as often as any party considers appropriate. The right of each of the parties hereunder shall not be capable of being
waived or varied otherwise than by an express waiver or variation in writing. Any failure to exercise or any delay in exercising any of such rights shall not operate as a waiver or variation of that or any other such right. Any defective or partial
exercise of any of such rights shall not preclude any other or further exercise of that or any other such right. No act or course of conduct or negotiation on the part of any party shall in any way preclude such party from exercising any such right
or constitute suspension or any variation of any such right. 
 Section 11.4 Headings. The headings of the Articles
and Sections contained in this Agreement are inserted for convenience only and shall not affect the meaning or interpretation of this Agreement or any provision hereof. 

Section 11.5 Construction. Unless the context otherwise requires, singular nouns and pronouns, when used herein, shall be
deemed to include the plural of such noun or pronoun and pronoun of one gender shall be deemed to include the equivalent pronoun of the other gender. 

Section 11.6 Assignment. Subject to Section 2.5, this Agreement may not be assigned by Buyer without the prior
written consent of Seller, which consent Seller may grant or withhold in its sole and absolute discretion. Any attempted assignment by Buyer without the prior consent of Seller shall be voidable by Seller. Subject to the foregoing, this Agreement
and the terms, covenants, conditions, provisions, obligations, undertakings, rights and benefits hereof, including the Exhibits hereto, shall be binding upon and shall inure to the benefit of, the undersigned parties and their respective heirs,
executors, administrators, representatives, successors, and assigns. 
 Section 11.7 Prior Understandings. This
Agreement supersedes any and all prior discussions and agreements between Seller and Buyer with respect to the purchase of the Loan and other matters contained herein, and this Agreement contains the sole and entire understanding between the parties
hereto with respect to the transactions contemplated herein. 
 Section 11.8 Integrated Agreement. This Agreement
and all Exhibits hereto constitute the final complete expression of the intent and understanding of Buyer and Seller. This Agreement shall not be altered or modified except by a subsequent writing, signed by Buyer and Seller. 

Section 11.9 Counterparts. This Agreement maybe executed by fax (if promptly followed by the original) and in any number of
counterparts, each of which shall constitute one and the 
  

 -16- 

 
same instrument, and either party hereto may execute this Agreement by signing any such counterpart. 

Section 11.10 Survival. Each and every covenant hereinabove made by the Buyer shall survive the Closing and shall not merge
into the Closing Documents, but instead shall be independently enforceable. 
 Section 11.11 Governing Law. This
Agreement shall be construed, and the rights and obligations of the Seller and the Buyer hereunder determined, in accordance with the local law of the State of Maryland. 

Section 11.12 Expenses. Except as expressly set forth to the contrary in this Agreement, each party hereto shall be
responsible for and bear all of its own respective expenses, including without limitation, expenses of legal counsel, accountants, and other advisors, incurred at any time in connection with pursuing or consummating this Agreement and the
transactions contemplated thereby. 
 Section 11.13 Publicity. Neither party to this Agreement shall release any
information concerning the transaction contemplated by this Agreement to the public by any means including, but not limited to, a press release, or a tombstone or other advertisement, without the prior written consent and approval of the other party
hereto. 
 Section 11.14 Brokers. Each party to this Agreement represents and warrants to the other that, in
connection with the sale and purchase of the Loan, the party so representing and warranting has not dealt with any real estate broker, agent or finder. Buyer and Seller shall indemnify and hold each other harmless against and from any inaccuracy in
such representation. The rights, obligations, warranties and representations of the parties hereto under the provisions of this Section 11.14 survive Closing or any termination of this Agreement before Closing. 

Section 11.15 Effectiveness Of This Agreement. This Agreement shall not be deemed a contract binding upon Seller unless and
until Seller shall have executed this Agreement and Buyer shall have delivered the Deposit into Escrow. 
 Section 11.16
Confidentiality. In no event shall either party to this Agreement issue any press release to any media of general circulation regarding this Agreement or the transactions contemplated hereby (other than a press release providing that Buyer
has acquired the Loan, which shall not disclose the terms of the acquisition) or otherwise disclose the terms and conditions of this Agreement; provided, however, that nothing herein or in any confidentiality agreement signed by Buyer shall be
deemed to limit or impair in any way any party’s ability to disclose the details of the transaction contemplated hereby to its legal and financial advisors or as may be necessary pursuant to any court or governmental order or applicable law,
including any REIT or SEC filing, disclosure or reporting requirements, or in litigation, nor shall anything contained herein be deemed to limit or impair CWCapital Asset Management LLC’s notification of the proposed transaction or details
thereof to other servicers, the Trustee, certificate holders or other parties relating to the servicing of the Loan. Notwithstanding the foregoing, no party hereunder shall have any liability by reason of the details of the transaction contemplated
hereby becoming known by means beyond the reasonable control of such party. This Section shall be 
  

 -17- 

 
supplemental to and not in derogation of the provisions of any Confidentiality Agreement entered into between Buyer and Seller. 

Section 11.17 Attorneys’ Fees. In the event any dispute between Buyer and Seller should result in arbitration or
litigation, the prevailing party shall be reimbursed for all reasonable costs incurred in connection with such litigation, including, without limitation, reasonable attorneys’ fees. 

Section 11.18 Further Assurances. From and after the date of this Agreement, each party shall provide to the other party such
other information regarding the Loan or the Collateral as the other party may reasonably request, and each party shall execute and deliver such other documents, deliver such other items and take such other actions as may be reasonably requested to
allow the completion and consummation (or termination, as appropriate) of all tasks and the transactions contemplated by this Agreement. 

Section 11.19 Time of Essence. All parties hereto agree that time is of the essence with respect to this Agreement.

 [remainder of page left blank intentionally] 
  

 -18- 

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

					
	SELLER:
	
	 Wells Fargo Bank, N.A., as Trustee for

the Registered Holders of J.P. Morgan
 Chase
Commercial Mortgage Securities
 Corp. Commercial Mortgage Pass-

Through Certificates Series 2001-C1

		
	By:	 	 CWCapital Asset Management

LLC, a Massachusetts limited
 liability company,
solely in its
 capacity as Special Servicer

			
		 	By:	 	/s/ Jeffrey C. Carter
		 	Name:	 	Jeffrey C. Carter
		 	Title:	 	Vice President
		 	Date:	 	  

 

			
	Acceptance by Title Company:
	
	First American Title Insurance Company
		
	By:	 	/s/ Richard Whelton
	Name:	 	Richard Whelton
	Title:	 	Counsel
	Date:	 	9/7/10

 Signatures Continued on Next Page

							
	BUYER:
	
	 KBS SOR DEBT HOLDINGS II LLC,

a Delaware limited liability company

		
	By:	 	KBS STRATEGIC OPPORTUNITY LIMITED PARTNERSHIP,
		 	a Delaware limited partnership
		 	its member
			
		 	By:	 	KBS STRATEGIC OPPORTUNITY REIT, INC.,
		 		 	a Maryland corporation,
		 		 	its sole general partner
				
		 		 	By:	 	/s/ Stacie K. Yamane
		 		 	Name:	 	Stacie K. Yamane
		 		 	Title:	 	Chief Accounting Officer

  

 -20- 

 EXHIBIT A 

LOAN DOCUMENTS 
  

	1.	Promissory Note dated October 22, 2001 

	2.	Deed of Trust, Security Agreement and Fixture Filing dated October 22, 2001 

	3.	Assignment of Leases and Rents dated October 22, 2001 

	4.	Guaranty dated October 22, 2001 

	5.	Hazardous Substance Indemnification Agreement dated October 22, 2001 

	6.	Cash Management Agreement dated October 22, 2001 

	7.	Consent and Assumption Agreement dated July 29, 2003 

	8.	Chicago Title Insurance Company Loan Policy, Policy Number 75-1528-207-1239099 

 

 A-1

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