Document:

Exhibit
10.25

PURCHASE
AND SALE AGREEMENT

by and between

TRT ACQUISITIONS LLC

(Purchaser)

and

TEDESCHI REALTY CORPORATION

EASTWAY PLAZA LLC

KINGSBURY
SQUARE LLC

BETA PROPERTIES LLC

T.D.
MANSFIELD ASSOCIATES LLC

MERIDEN
REALTY LLC

MIDDLEBORO
ASSOCIATES LLC

TERRENCE
C. TEDESCHI, TRUSTEE OF HANWELL NOMINEE TRUST

COVE
ROAD LLC

TEDESCHI
NORWELL LLC

SKAKET
ASSOCIATES LLC, TRUSTEE OF SKAKET ASSOCIATES NOMINEE TRUST

SANDWICH
ASSOCIATES LLC, TRUSTEE OF SANDWICH ASSOCIATES NOMINEE TRUST

TEDESCHI
DARMAN COMPANY LLC

T.
DELTA WEYMOUTH LLC

BEDFORD
& SCHOOL LLC

TD WHITMAN LLC, TRUSTEE OF WHITMAN ASSOCIATES NOMINEE TRUST

(Sellers)

Dated as of

June 7, 2007

TABLE OF CONTENTS

	
  

  	
   

  	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  
	
  ARTICLE 1  Definitions

  	
   

  	
  2

  
	
   

  	
   

  	
   

  
	
  Section 1.1.

  	
   

  	
  Definitions

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 2  Agreement;
  Purchase Price

  	
   

  	
  31

  
	
   

  	
   

  	
   

  
	
  Section 2.1.

  	
   

  	
  Agreement to Sell and Purchase

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.2.

  	
   

  	
  Purchase Price

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.3.

  	
   

  	
  Deposit

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 3  Conditions Precedent; Activities Prior to
  Closing and Other Covenants

  	
   

  	
  34

  
	
   

  	
   

  	
   

  
	
  Section 3.1.

  	
   

  	
  Conditions Precedent to the Purchaser’s Obligation
  to Consummate the Transaction

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.2.

  	
   

  	
  Conditions Precedent to the Sellers’ Obligations to
  Consummate the Transaction

  	
   

  	
  37

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.3.

  	
   

  	
  Sellers’ Activities Prior to Closing

  	
   

  	
  38

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.4.

  	
   

  	
  Other Covenants and Agreements

  	
   

  	
  41

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.5.

  	
   

  	
  Material Matters

  	
   

  	
  54

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 4  Confidentiality and Reporting

  	
   

  	
  56

  
	
   

  	
   

  	
   

  
	
  Section 4.1.

  	
   

  	
  Confidentiality

  	
   

  	
  56

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.2.

  	
   

  	
  Reporting

  	
   

  	
  57

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 5  “AS
  IS” Transaction

  	
   

  	
  57

  
	
   

  	
   

  	
   

  
	
  Section 5.1.

  	
   

  	
  Disclaimer

  	
   

  	
  57

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 5.2.

  	
   

  	
  “AS-IS” Transaction

  	
   

  	
  57

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 5.3.

  	
   

  	
  Waivers; Release and Covenant Not to Sue

  	
   

  	
  59

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 6  Casualty Damage or Condemnation

  	
   

  	
  61

  
	
   

  	
   

  	
   

  
	
  Section 6.1.

  	
   

  	
  Risk of Loss

  	
   

  	
  61

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 6.2.

  	
   

  	
  Condemnation

  	
   

  	
  62

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 6.3.

  	
   

  	
  Cooperation

  	
   

  	
  63

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 7  Representations, Warranties and Covenants

  	
   

  	
  64

  
	
   

  	
   

  	
   

  
	
  Section 7.1.

  	
   

  	
  Purchaser’s Representations

  	
   

  	
  64

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.2.

  	
   

  	
  Sellers’ Representations

  	
   

  	
  65

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.3.

  	
   

  	
  Sellers’ Knowledge; Purchaser’s Knowledge

  	
   

  	
  72

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.4.

  	
   

  	
  Recording Information

  	
   

  	
  72

  

 

 i
 

 

	
  ARTICLE 8  Closing

  	
   

  	
   

  	
   

  	
  73

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.1.

  	
   

  	
  Closing

  	
   

  	
  73

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.2.

  	
   

  	
  Sellers’ Deliveries

  	
   

  	
  73

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.3.

  	
   

  	
  Purchaser’s Deliveries

  	
   

  	
  75

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.4.

  	
   

  	
  Costs and Prorations

  	
   

  	
  76

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 9  Broker’s Commission

  	
   

  	
  82

  
	
   

  	
   

  	
   

  
	
  Section 9.1.

  	
   

  	
  Indemnity

  	
   

  	
  82

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 10  Extension

  	
   

  	
  82

  
	
   

  	
   

  	
   

  
	
  Section 10.1.

  	
   

  	
  Extension to Cure

  	
   

  	
  82

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 10.2.

  	
   

  	
  Loan Assumption Extension

  	
   

  	
  83

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 10.3.

  	
   

  	
  Rejected Properties

  	
   

  	
  84

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 11  Termination
  and Default

  	
   

  	
  84

  
	
   

  	
   

  	
   

  
	
  Section 11.1.

  	
   

  	
  Termination without Default

  	
   

  	
  84

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.2.

  	
   

  	
  Purchaser’s Default

  	
   

  	
  85

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.3.

  	
   

  	
  Sellers’ Default

  	
   

  	
  85

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.4.

  	
   

  	
  Breach of Representations

  	
   

  	
  86

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 12  Miscellaneous

  	
   

  	
  87

  
	
   

  	
   

  	
   

  
	
  Section 12.1.

  	
   

  	
  Entire Agreement

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.2.

  	
   

  	
  Binding on Successors and Assigns

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.3.

  	
   

  	
  Assignment by the Purchaser

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.4.

  	
   

  	
  Seller Representative

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.5.

  	
   

  	
  Waiver

  	
   

  	
  88

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.6.

  	
   

  	
  Governing Law

  	
   

  	
  88

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.7.

  	
   

  	
  Counterparts

  	
   

  	
  89

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.8.

  	
   

  	
  Notices

  	
   

  	
  89

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.9.

  	
   

  	
  Third Parties

  	
   

  	
  90

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.10.

  	
   

  	
  IRS Real Estate Sales Reporting

  	
   

  	
  90

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.11.

  	
   

  	
  Time Periods

  	
   

  	
  91

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.12.

  	
   

  	
  Modification of Agreement

  	
   

  	
  91

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.13.

  	
   

  	
  Further Assurances

  	
   

  	
  91

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.14.

  	
   

  	
  Descriptive Headings; Word Meaning

  	
   

  	
  91

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.15.

  	
   

  	
  Time of the Essence

  	
   

  	
  92

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.16.

  	
   

  	
  Construction of Agreement

  	
   

  	
  92

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.17.

  	
   

  	
  Liability

  	
   

  	
  92

  

 

 ii
 

 

	
  Section 12.18.

  	
   

  	
  Portfolio Sale

  	
   

  	
  93

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.19.

  	
   

  	
  Severability

  	
   

  	
  93

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.20.

  	
   

  	
  No Recording

  	
   

  	
  93

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.21.

  	
   

  	
  Standard of Conduct

  	
   

  	
  94

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.22.

  	
   

  	
  Attorneys’ Fees

  	
   

  	
  94

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.23.

  	
   

  	
  Post-Closing Access to Records

  	
   

  	
  94

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.24.

  	
   

  	
  Information and Audit Cooperation

  	
   

  	
  94

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.25.

  	
   

  	
  No Implied Agreement

  	
   

  	
  94

  

 

 iii
 

 

EXHIBITS

 

	
  Exhibit
  A-1

  	
   

  	
  -

  	
   

  	
  Allocated Value and Deposit Schedule

  
	
  Exhibit A-2

  	
   

  	
  -

  	
   

  	
  Property Owners

  
	
  Exhibit B-1

  	
   

  	
  -

  	
   

  	
  Abington Land

  
	
  Exhibit B-2

  	
   

  	
  -

  	
   

  	
  Braintree Land

  
	
  Exhibit B-3

  	
   

  	
  -

  	
   

  	
  Brockton (Eastway Plaza) Land

  
	
  Exhibit B-4

  	
   

  	
  -

  	
   

  	
  Brockton (Westgate Plaza) Land

  
	
  Exhibit B-5

  	
   

  	
  -

  	
   

  	
  Cohasset Land

  
	
  Exhibit B-6

  	
   

  	
  -

  	
   

  	
  Cranston Land

  
	
  Exhibit B-7

  	
   

  	
  -

  	
   

  	
  Hanover Land

  
	
  Exhibit B-8

  	
   

  	
  -

  	
   

  	
  Harwich Land

  
	
  Exhibit B-9

  	
   

  	
  -

  	
   

  	
  Holbrook Land

  
	
  Exhibit B-10

  	
   

  	
  -

  	
   

  	
  Hyannis Land

  
	
  Exhibit B-11

  	
   

  	
  -

  	
   

  	
  Kingston Land

  
	
  Exhibit B-12

  	
   

  	
  -

  	
   

  	
  Manomet Land

  
	
  Exhibit B-13

  	
   

  	
  -

  	
   

  	
  Mansfield Land

  
	
  Exhibit B-14

  	
   

  	
  -

  	
   

  	
  Meriden Land

  
	
  Exhibit B-15

  	
   

  	
  -

  	
   

  	
  Middleboro Land

  
	
  Exhibit B-16

  	
   

  	
  -

  	
   

  	
  New Bedford Land

  
	
  Exhibit B-17

  	
   

  	
  -

  	
   

  	
  North Hanover Land

  
	
  Exhibit B-18

  	
   

  	
  -

  	
   

  	
  Norwell Land

  
	
  Exhibit B-19

  	
   

  	
  -

  	
   

  	
  Orleans Land

  
	
  Exhibit B-20

  	
   

  	
  -

  	
   

  	
  Rockland (Market Street) Land

  
	
  Exhibit B-21

  	
   

  	
  -

  	
   

  	
  Rockland (Pharmacy) Land

  
	
  Exhibit B-22

  	
   

  	
  -

  	
   

  	
  Sandwich Land

  
	
  Exhibit B-23

  	
   

  	
  -

  	
   

  	
  Wareham Land

  
	
  Exhibit B-24

  	
   

  	
  -

  	
   

  	
  Weymouth Land

  
	
  Exhibit B-25

  	
   

  	
  -

  	
   

  	
  Whitman (Food Master Plaza) Land

  
	
  Exhibit B-26

  	
   

  	
  -

  	
   

  	
  Whitman (Stop & Shop Plaza) Land

  
	
  Exhibit C-1

  	
   

  	
  -

  	
   

  	
  Abington Lease Documents

  
	
  Exhibit C-2

  	
   

  	
  -

  	
   

  	
  Braintree Lease Documents

  
	
  Exhibit C-3

  	
   

  	
  -

  	
   

  	
  Brockton (Eastway Plaza) Lease Documents

  
	
  Exhibit C-4

  	
   

  	
  -

  	
   

  	
  Brockton (Westgate Plaza) Lease Documents

  
	
  Exhibit C-5

  	
   

  	
  -

  	
   

  	
  Cohasset Lease Documents

  
	
  Exhibit C-6

  	
   

  	
  -

  	
   

  	
  Cranston Lease Documents

  
	
  Exhibit C-7

  	
   

  	
  -

  	
   

  	
  Hanover Lease Documents

  
	
  Exhibit C-8

  	
   

  	
  -

  	
   

  	
  Harwich Lease Documents

  
	
  Exhibit C-9

  	
   

  	
  -

  	
   

  	
  Holbrook Lease Documents

  
	
  Exhibit C-10

  	
   

  	
  -

  	
   

  	
  Hyannis Lease Documents

  
	
  Exhibit C-11

  	
   

  	
  -

  	
   

  	
  Kingston Lease Documents

  
	
  Exhibit C-12

  	
   

  	
  -

  	
   

  	
  Manomet Lease Documents

  
	
  Exhibit C-13

  	
   

  	
  -

  	
   

  	
  Mansfield Lease Documents

  
	
  Exhibit C-14

  	
   

  	
  -

  	
   

  	
  Meriden Lease Documents

  
	
  Exhibit C-15

  	
   

  	
  -

  	
   

  	
  Middleboro Lease Documents

  
	
  Exhibit C-16

  	
   

  	
  -

  	
   

  	
  New Bedford Lease Documents

  

 

 iv
 

 

	
  Exhibit C-17

  	
   

  	
  -

  	
   

  	
  North Hanover Lease Documents

  
	
  Exhibit C-18

  	
   

  	
  -

  	
   

  	
  Norwell Lease Documents

  
	
  Exhibit C-19

  	
   

  	
  -

  	
   

  	
  Orleans Lease Documents

  
	
  Exhibit C-20

  	
   

  	
  -

  	
   

  	
  Rockland (Market Street) Lease Documents

  
	
  Exhibit C-21

  	
   

  	
  -

  	
   

  	
  Rockland (Pharmacy) Lease Documents

  
	
  Exhibit C-22

  	
   

  	
  -

  	
   

  	
  Sandwich Lease Documents

  
	
  Exhibit C-23

  	
   

  	
  -

  	
   

  	
  Wareham Lease Documents

  
	
  Exhibit C-24

  	
   

  	
  -

  	
   

  	
  Weymouth Lease Documents

  
	
  Exhibit C-25

  	
   

  	
  -

  	
   

  	
  Whitman (Food Master Plaza) Lease Documents

  
	
  Exhibit C-26

  	
   

  	
  -

  	
   

  	
  Whitman (Stop & Shop Plaza) Lease Documents

  
	
  Exhibit D

  	
   

  	
  -

  	
   

  	
  Assignment and Assumption of Lease Documents

  
	
  Exhibit E

  	
   

  	
  -

  	
   

  	
  Assignment and Assumption Agreement

  
	
  Exhibit F

  	
   

  	
  -

  	
   

  	
  Bill of Sale and Assignment

  
	
  Exhibit G

  	
   

  	
  -

  	
   

  	
  Contracts

  
	
  Exhibit H

  	
   

  	
  -

  	
   

  	
  Environmental Reports

  
	
  Exhibit I

  	
   

  	
  -

  	
   

  	
  Material Leases

  
	
  Exhibit J-1

  	
   

  	
  -

  	
   

  	
  Notice to Subtenant

  
	
  Exhibit J-2

  	
   

  	
  -

  	
   

  	
  Notice to Tenant

  
	
  Exhibit K

  	
   

  	
  -

  	
   

  	
  Existing Surveys

  
	
  Exhibit L

  	
   

  	
  -

  	
   

  	
  Tenants’ Costs

  
	
  Exhibit M

  	
   

  	
  -

  	
   

  	
  Title Commitments

  
	
  Exhibit N

  	
   

  	
  -

  	
   

  	
  Title 5 Reports

  
	
  Exhibit O

  	
   

  	
  -

  	
   

  	
  Tenant Estoppel Certificate

  
	
  Exhibit P

  	
   

  	
  -

  	
   

  	
  Landlord Estoppel Certificate

  
	
  Exhibit Q

  	
   

  	
  -

  	
   

  	
  Orleans Groundwater Discharge Permit Assignment

  
	
  Exhibit R-1

  	
   

  	
  -

  	
   

  	
  Harwich Escrow Assignment

  
	
  Exhibit R-2

  	
   

  	
  -

  	
   

  	
  Harwich Escrow Notice

  
	
  Exhibit S

  	
   

  	
  -

  	
   

  	
  Purchaser’s Closing Certification

  
	
  Exhibit T

  	
   

  	
  -

  	
   

  	
  Sellers’ Closing Certification

  
	
  Exhibit U

  	
   

  	
  -

  	
   

  	
  Nondisturbance Agreements

  
	
  Exhibit V

  	
   

  	
  -

  	
   

  	
  Recognized Subleases

  
	
  Exhibit W-1

  	
   

  	
  -

  	
   

  	
  Pending Tax Proceedings

  
	
  Exhibit W-2

  	
   

  	
  -

  	
   

  	
  Pending Litigation

  
	
  Exhibit X

  	
   

  	
  -

  	
   

  	
  Harwich Loan Documents

  
	
  Exhibit Y

  	
   

  	
  -

  	
   

  	
  New Bedford Loan Documents

  
	
  Exhibit Z

  	
   

  	
  -

  	
   

  	
  Norwell Loan Documents

  
	
  Exhibit AA

  	
   

  	
  -

  	
   

  	
  Defaults under Financing Documents

  
	
  Exhibit BB

  	
   

  	
  -

  	
   

  	
  Rent Roll

  
	
  Exhibit CC

  	
   

  	
  -

  	
   

  	
  Lease Document Monetary Defaults

  
	
  Exhibit DD

  	
   

  	
  -

  	
   

  	
  Security Deposits

  
	
  Exhibit EE

  	
   

  	
  -

  	
   

  	
  Leasing Commissions/Tenant Improvements

  
	
  Exhibit FF

  	
   

  	
  -

  	
   

  	
  Properties Where Real Estate Taxes Are Paid By
  Tenants

  
	
  Exhibit GG

  	
   

  	
  -

  	
   

  	
  Adjusted Percentage Rent Calculation

  
	
  Exhibit HH

  	
   

  	
  -

  	
   

  	
  Vacant Space

  
	
  Exhibit II

  	
   

  	
  -

  	
   

  	
  Gross Leases

  
	
  Exhibit JJ

  	
   

  	
  -

  	
   

  	
  Reimbursable Due Diligence Costs

  

 

 v
 

 

	
  Exhibit KK

  	
   

  	
  -

  	
   

  	
  Plan for Hanover Work

  
	
  Exhibit LL

  	
   

  	
  -

  	
   

  	
  Umbrella Guaranty

  
	
  Exhibit MM

  	
   

  	
  -

  	
   

  	
  Representation Letter

  
	
  Exhibit NN

  	
   

  	
  -

  	
   

  	
  Additional Requested Tenant Estoppel Matters

  
	
  Exhibit OO

  	
   

  	
  -

  	
   

  	
  Third Party Estoppel Certificate

  
	
  Exhibit PP

  	
   

  	
  -

  	
   

  	
  Identified Title/Survey Issues and Resolutions

  
	
  Exhibit QQ

  	
   

  	
  -

  	
   

  	
  Other Requested Estoppel Matters

  

 

 vi

PURCHASE AND SALE AGREEMENT

THIS
PURCHASE AND SALE AGREEMENT (this “Agreement”), dated as of
June 7, 2007 (the “Effective Date”),
is entered into by and among TEDESCHI REALTY
CORPORATION, a Massachusetts corporation (“Tedeschi Realty”), EASTWAY PLAZA LLC, a Massachusetts limited
liability company (“Eastway”),
KINGSBURY SQUARE LLC, a
Massachusetts limited liability company (“Kingsbury
Square”), BETA PROPERTIES LLC,
a Massachusetts limited liability company (“Beta”), T.D. MANSFIELD ASSOCIATES LLC, a Massachusetts limited
liability company (“TD Mansfield”),
MERIDEN REALTY LLC, a
Massachusetts limited liability company (“Meriden
Realty”), MIDDLEBORO
ASSOCIATES LLC, a Massachusetts limited liability company (“Middleboro Associates”), TERRENCE C. TEDESCHI, as TRUSTEE OF  HANWELL NOMINEE TRUST, established pursuant to a Declaration
of Trust, dated January 6, 1984, recorded with the Plymouth County Registry of
Deeds (the “Plymouth Registry”)
in Book 5551, Page 248  (“Hanwell Trust”), COVE ROAD LLC, a Massachusetts limited
liability company (“Cove Road”),
TEDESCHI NORWELL LLC, a
Massachusetts limited liability company (“Tedeschi-Norwell”),
SKAKET ASSOCIATES LLC, a
Massachusetts limited liability company, as TRUSTEE
OF SKAKET ASSOCIATES NOMINEE TRUST, established pursuant to a
Declaration of Trust, dated April 16, 1982, filed with the Barnstable Registry
District of the Land Court  (the “Barnstable Registry District”) as
Document No. 29446, as amended by Amendment of Trust, dated August 24, 1999,
filed with the Barnstable Registry District as Document No. 766739 (“Skaket Associates Trust”), SANDWICH ASSOCIATES LLC, a Massachusetts
limited liability company, as TRUSTEE OF
SANDWICH ASSOCIATES NOMINEE TRUST, established pursuant to a
Declaration of Trust, dated September 7, 1976, recorded with the Barnstable
County Registry of Deeds (the “Barnstable
Registry”) in Book 2438, Page 192 and filed with the Barnstable
Registry District as Document No. 215095, as amended by Amendment to
Declaration of Trust, dated August 28, 2000, and recorded with the Barnstable
Registry at Book 13230, Page 62 and filed with the Barnstable Registry District
as Document No. 55670 (“Sandwich
Associates Trust”), TEDESCHI
DARMAN COMPANY LLC, a Massachusetts limited liability company(“Tedeschi-Darman”), T. DELTA WEYMOUTH LLC, a Massachusetts
limited liability company (“T-Delta”),
BEDFORD & SCHOOL LLC, a
Massachusetts limited liability company (“Bedford-School”),
TD WHITMAN LLC, a
Massachusetts limited liability company, as TRUSTEE
OF WHITMAN ASSOCIATES NOMINEE TRUST, established pursuant to a
Declaration of Trust, dated September 16, 1975, recorded with the Plymouth
Registry in Book 4100, Page 210, as amended by Amendment to Declaration of
Trust, dated November 30, 2000, recorded with the Plymouth Registry at
Book 19268, Page 150 (“Whitman
Associates Trust”), and TRT
ACQUISITIONS LLC, a Delaware limited liability company (the “Purchaser”).

WHEREAS,
the Sellers (as hereinafter defined) desire to sell to the Purchaser, and the
Purchaser desires to acquire from the Sellers, all of the Sellers’ right, title
and interest in the Assets (as hereinafter defined).

NOW,
THEREFORE, in consideration of the mutual promises
hereinafter set forth and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

ARTICLE 1

Definitions

Section
1.1.           Definitions.  For purposes of this Agreement, except as
otherwise expressly provided herein or unless the context otherwise requires, (i) the terms defined in this Article have
the meanings assigned to them in this Article and include the plural as well as
the singular and (ii) all
references in this Agreement to designated “Articles”, “Sections” and other
subdivisions are to the designated Articles, Sections and other subdivisions of
this Agreement.

“Abington Land” shall mean the land more
particularly described on EXHIBIT B-1
attached hereto.

“Abington Leases” shall mean,
collectively, the Leases affecting all or any portion of the Abington Land, as
more particularly described on EXHIBIT C-1
attached hereto.

“Abington Property” shall mean,
collectively, the Abington Land and the Improvements located thereon.

“Abington Stop & Shop Lease” shall
mean that certain Amended and Restated Ground Lease, dated March 13, 1997,
between Tedeschi Realty, as landlord, and Britt Realty Trust, as tenant, as
amended.

“Acceptable Middleboro RAO” shall have
the meaning ascribed to such term in Section 3.4(s)
of this Agreement.

“Access Agreements” shall mean,
collectively, the Orleans/Middleboro Access Agreement and the Omnibus Access
Agreement.

“Action” shall have the meaning ascribed
to such term in Section 3.4(s)
of this Agreement.

“Additional Hanover Easement” shall have
the meaning ascribed to such term in Section 3.4(f)
of this Agreement.

“Additional Rent” shall mean,
collectively, all amounts, other than Minimum Rent or Percentage Rent, to be
paid by a Tenant under any Lease (including, without limitation, amounts owed
for real estate taxes and other assessments and other governmental charges,
roadway maintenance fees, common area maintenance fees, smoke and fire alarm
fees, fire safety and protection systems monitoring, testing and operating
charges, utility fees, etc.).

“Adjacent Hanover Land” shall mean the
parcel of land, owned by the Adjacent Hanover Land Owner, that is located
adjacent to the western boundary of the Hanover Land near Unit 1 of the Hanover
Condominium.

“Adjacent Hanover Land Owner” shall mean
218 Columbia Realty Trust.

 2
 

“Adjusted Percentage Rent Amount” shall
mean, with respect to any Percentage Rent Lease in effect as of the Closing
Date, the amount of the Percentage Rent, if any, that would be payable under
such Percentage Rent Lease during the Closing Percentage Rent Year assuming
that the Average Gross Sales Amount was the total gross sales for the
applicable Tenant during the Closing Percentage Rent Year.

“Affiliate” shall mean, with respect to
any Person (a) any other Person
which, directly or indirectly, controls or is controlled by or is under common
control with such Person, (b) any
other Person that owns, beneficially, directly or indirectly, fifty-one percent
(51%) or more of the outstanding capital stock, shares or equity interests of
such Person or (c) any officer,
director, employee, general partner or trustee of such Person or any other
Person controlling, controlled by or under common control with such Person
(excluding trustees and Persons serving in a fiduciary or similar capacity who
are not otherwise an Affiliate of such Person). 
For the purposes of this definition, the term “control” (including the
correlative meanings of the terms “controlled by” and “under common control
with”), as used with respect to any Person, shall mean the possession, directly
or indirectly, of the power to direct or cause the direction of the management
and policies of such Person, through the ownership of voting securities,
partnership interests, membership interests or other equity interests.

“Additional Requested Tenant Estoppel Matters”
shall have the meaning ascribed to such term in Section 3.1(i) of this Agreement.

“Aggregate Outstanding Assumed Indebtedness”
shall mean the aggregate amount of the outstanding principal indebtedness and
accrued interest, if any, under the Harwich Loan, the New Bedford Loan and the
Norwell Loan, as of the Closing Date, that is assumed by the Purchaser at the
consummation of the Closing.

“Allocated Deposit” shall mean, with
respect to each Property, the Allocated Deposit set forth on the Allocated
Value and Deposit Schedule.

“Allocated Value” shall mean, with
respect to each Property, the Allocated Value set forth on the Allocated Value
and Deposit Schedule.

“Allocated Value and Deposit Schedule”
shall mean the schedule attached hereto as EXHIBIT A-1.

“Approved System Inspector” shall have
the meaning given to such term under the Title 5 Regulations.

“ARGUS MODEL” shall mean the Purchaser’s
property valuation model utilizing Argus software relating to the Properties
delivered to Jones Lang on June 1, 2007.

“Assets” shall mean, collectively, all
of each Seller’s right, title and interest in (i)
the Land and the Improvements, (ii) the
Lease Documents (including, without limitation, all Encumbrances created
thereunder), (iii) the Intangible
Property, (iv) the Personal
Property and (v) all Collateral.

 3
 

“Assignment and Assumption of Lease Documents”
shall mean an assignment and assumption of the Sellers’ interest under the
Lease Documents substantially in the form attached hereto as EXHIBIT D.

“Assignment and Assumption of Permits and Contracts”
shall mean an assignment and assumption of the Sellers’ interest under the
Permits and Contracts substantially in the form attached hereto as EXHIBIT E.

“Average Gross Sales Amount” shall mean,
with respect to any Percentage Rent Lease, an amount equal to (x) the sum of the gross sales of the
Tenant thereunder for the two (2) Percentage Rent Years immediately preceding
the Closing Percentage Rent Year divided by (y) two
(2).

“Bankruptcy Proceedings” shall mean,
collectively, all bankruptcy, insolvency, rearrangement or similar actions
commenced, voluntarily or involuntarily, by or against any Person.

“Barnstable Registry” shall have the
meaning ascribed to such term in the preamble of this Agreement.

“Barnstable Registry District” shall
have the meaning ascribed to such term in the preamble of this Agreement.

“Bedford-School” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Beneficial Owner” shall mean the holder
of any direct or indirect ownership interest in any Seller.

“Beneficiaries” shall mean,
collectively, the Hanwell Beneficiary, the Skaket Associates Beneficiary, the
Sandwich Associates Beneficiary and the Whitman Associates Beneficiary.

“Beta” shall have the meaning ascribed
to such term in the preamble of this Agreement.

“Bill of Sale” shall mean a bill of sale
substantially in the form attached hereto as EXHIBIT F.

“Bobby Byrne’s (Sandwich) Lease” shall
mean the Lease, dated September 29, 1978, between Sandwich Associates Trust, as
landlord, and P.K., Inc., as tenant, as assigned by P.K., Inc. to Brandyman,
Inc. d/b/a Bobby Byrne’s Pub pursuant to the Consent to Assignment and
Amendment of Lease, dated May 7, 1982, by and among Sandwich Associates Trust,
as landlord, P.K., Inc., as assignee, and Brandyman, Inc. d/b/a Bobby Byrne’s
Pub, as assignee, and as further amended.

“Braintree Land” shall mean the land
more particularly described on EXHIBIT B-2
attached hereto.

“Braintree Leases” shall mean,
collectively, the Leases affecting all or any portion of the Braintree Land, as
more particularly described on EXHIBIT C-2
attached hereto.

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“Braintree Property” shall mean,
collectively, the Braintree Land and the Improvements located thereon.

“Bristol Registry” shall mean the
Bristol South County Registry of Deeds.

“Brockton (Eastway Plaza) Land” shall
mean the land more particularly described on EXHIBIT B-3 attached hereto.

“Brockton (Eastway Plaza) Leases” shall
mean, collectively, the Leases affecting all or any portion of the Brockton
(Eastway Plaza) Land, as more particularly described on EXHIBIT C-3 attached hereto.

“Brockton (Eastway Plaza) Property”
shall mean, collectively, the Brockton (Eastway Plaza) Land and the
Improvements located thereon.

“Brockton (Westgate Plaza) Land” shall
mean the land more particularly described on EXHIBIT B-4 attached hereto.

“Brockton (Westgate Plaza) Leases” shall
mean, collectively, the Leases affecting all or any portion of the Brockton
(Westgate Plaza) Land as more particularly described on EXHIBIT C-4 attached hereto.

“Brockton (Westgate Plaza) Property”
shall mean, collectively, the Brockton (Westgate Plaza) Land and the
Improvements located thereon.

“Business Day” shall mean any day of the
week other than Saturday, Sunday, or a day on which banking institutions in the
Commonwealth of Massachusetts or the State of Colorado are obligated or
authorized by law or executive action to be closed to the transaction of normal
banking business.

“CAM and Real Estate Tax Payments” shall
mean, collectively, all payments that Tenants have actually made to the Sellers
under the Leases during calendar year 2007 to be applied toward the Tenants’
respective share of Property Expenses incurred during calendar year 2007.

“Casualty Rejection Notice” shall have
the meaning ascribed to such term under Section 6.1(b)
of this Agreement.

“Casualty
Threshold” shall mean (i)
FIVE HUNDRED THOUSAND DOLLARS ($500,000)
with respect to any Property that has an Allocated Value that is less than TEN MILLION DOLLARS ($10,000,000) and (ii) ONE MILLION DOLLARS ($1,000,000) with
respect to any Property that has an Allocated Value that is equal to or greater
than TEN MILLION DOLLARS ($10,000,000).

“CCC” shall mean the Cape Cod
Commission.

“Claims”
shall mean, collectively, all of each Seller’s right, title and interest, if
any, in all claims, credits, causes of action and rights of setoff against
third parties relating to all or any portion of the Land, any of the
Improvements, any of the Intangible Property and any of the 

 5
 

Personal Property,
including, without limitation, unliquidated rights under manufacturers’ and
vendors’ warranties and guaranties.

“Closing” shall mean the consummation of
the purchase and sale of the Assets pursuant to the terms of this Agreement.

“Closing Conditions” shall have the
meaning ascribed to such term in Section 2.1
of this Agreement.

“Closing Date” shall mean August 1, 2007
as such date may be extended in accordance with the terms of this Agreement.

“Closing Percentage Rent Year” shall
mean, with respect to each Percentage Rent Lease, the applicable Lease Year in
which the Closing Date occurs.

“Closing Statement” shall have the
meaning set forth in Section 8.4(a)
of this Agreement.

“Code” shall mean the Internal Revenue
Code of 1986, and all amendments thereto and all regulations issued thereunder.

“Cohasset Land” shall mean the land more
particularly described on EXHIBIT B-5
attached hereto.

“Cohasset Leases” shall mean,
collectively, the Leases affecting all or any portion of the Cohasset Land as
more particularly described on EXHIBIT C-5
attached hereto.

“Cohasset Property” shall mean,
collectively, the Cohasset Land and the Improvements located thereon.

“Collateral” shall mean, collectively,
all collateral securing the obligations of the Tenants under the Lease
Documents, including, without limitation, the Security Deposits.

“Condemnation
Rejection Notice” shall have the meaning ascribed to such term
under Section 6.2(b)
of this Agreement.

“Confidential
Information” shall mean, collectively, all information
concerning the Assets, the Sellers, the Tenants and/or the Guarantors provided
before or after the date hereof by Jones Lang or any of the Seller Parties to
the Purchaser and/or any of the Purchaser’s Agents, excluding, however,
all information (i) that has been,
is or will be available to the public other than as a result of disclosure by
the Purchaser or the Purchaser’s Agents, (ii)
that has been, is or will be available to the Purchaser on a non-confidential
basis from a source other than the Sellers, provided that such source is not
known by the Purchaser to be bound by a contractual obligation of
confidentiality to any of the Sellers or (iii)
is independently developed by the Purchaser or on the Purchaser’s behalf
without violating any of the Purchaser’s obligations hereunder.

 6
 

“Connecticut DEP” shall mean the
Department of Environmental Protection of the State of Connecticut.

“Connecticut
Transfer Act” shall mean the Connecticut Property Transfer Law,
Connecticut General Statute Sections 22a-134 - 22a-134(e).

“Connecticut
Transfer Act Obligations” shall have the meaning ascribed to
such term in Section 3.4(o)
of this Agreement.

“Consents”
shall mean, collectively, the Harwich Consents, the New Bedford Consents and
the Norwell Consents.

“Contracts” shall mean, collectively,
the Contracts identified on EXHIBIT G
attached hereto.

“Cove Road” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Cranston Land” shall mean the land more
particularly described on EXHIBIT B-6
attached hereto.

“Cranston Leases” shall mean,
collectively, the Leases affecting all or any portion of the Cranston Land as
are more particularly described on EXHIBIT C-6
attached hereto.

“Cranston Property” shall mean,
collectively, the Cranston Land and the Improvements located thereon.

“Cure Notice” shall have the meaning
ascribed to such term in Section 3.4(j)
of this Agreement.

“Deed” shall mean with respect to (i) the Hanover Condominium Units and each
Land Parcel (other than the Hanover Land) in Massachusetts, a quitclaim deed, (ii) the Cranston Land, a quitclaim deed
and (iii) the Meriden Land, a
special warranty deed; in each instance, in a form reasonably acceptable to the
Purchaser and the Sellers and customarily used in each applicable State where
any Property is located and sufficient to enable the Title Company to issue the
Title Policy for the applicable Property.

“Deemed to know” (or words of similar
import) shall mean, with respect to (a)
the Purchaser, as follows: (i) the
Purchaser shall be “deemed to know” of the existence of a fact or circumstance
to the extent that such fact or circumstance is (x) expressly disclosed by this Agreement, the Sellers’
Documents, the Due Diligence Materials or any estoppel certificate received by
or on behalf of the Purchaser or (y)
otherwise is actually known by Greg Moran (without duty of inquiry); and (ii) the Purchaser shall be “deemed to know”
that a representation or warranty of the Sellers is untrue, inaccurate or
incorrect to the extent that (x)
this Agreement, the Sellers’ Documents, the Due Diligence Materials, any
estoppel certificate received by or on behalf of the Purchaser contains
information which is clearly inconsistent with such representation or warranty
or (y) Greg Moran actually knows
(without duty of inquiry) that any 

 7
 

such representation or
warranty is untrue, inaccurate or incorrect and (b) the Sellers, as follows: 
the Sellers shall be “deemed to know” of the existence of a fact or
circumstance to the extent that such fact or circumstance is (x) expressly disclosed by this Agreement,
the Sellers’ Documents, the Due Diligence Materials or any estoppel certificate
received by the Sellers or (y)
otherwise is actually known by Terrence C. Tedeschi, Peter C. Zona, John
Whalen, John McWeeney or Henry Stone (without duty of inquiry); and (ii) the Sellers shall be “deemed to know”
that a representation or warranty of the Purchaser is untrue, inaccurate or
incorrect to the extent that (x)
this Agreement, the Sellers’ Documents, the Due Diligence Materials, any
estoppel certificate received by the Sellers contains information which is
clearly inconsistent with such representation or warranty or (y) Terrence C. Tedeschi, Peter C. Zona,
John Whalen, John McWeeney or Henry Stone actually knows (without duty of
inquiry) that any such representation or warranty is untrue, inaccurate or
incorrect.

“Deposit” shall have the meaning set
forth in Section 2.3(a)
of this Agreement.

“Designated Lease” shall have the
meaning ascribed to such term in Section
3.1(i) of this Agreement.

“Due Diligence Materials” shall have the
meaning ascribed to such term in Section 3.4(a)
of this Agreement.

“Eastway” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Effective Date” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Encumbrance”
shall mean, with respect to any Asset, any mortgage, deed of trust, easement,
restriction, lien, pledge, collateral assignment, hypothecation, charge,
security interest, title retention agreement, levy, execution, seizure,
attachment, garnishment or other encumbrance of any kind whatsoever in respect
of such Asset, in each case whether or not choate, vested or perfected.

“Environmental Claim” shall mean any
claim, action, cause of action, investigation or notice (written or oral) by
any Person alleging potential liability (including potential liability for
investigatory costs, cleanup costs, governmental response costs, natural
resources damages, property damages, personal injuries, or penalties) arising
out of, based on or resulting from the manufacture, treatment, processing,
distribution, use, transport, handling, deposit, storage, disposal, leaking or
other presence, or release into the environment, in violation of any
Environmental Law, of any Hazardous Material in, at, on, under, from or about
any location, whether or not owned or operated by any Seller.

“Environmental Laws” shall mean,
collectively, all Legal Requirements applicable to environmental conditions on,
under or emanating from or to any Asset or to the protection of human health,
including, without limitation, the Comprehensive Environmental Response,
Compensation and Liability Act, the Resource Conservation and Recovery Act, the
Federal Water Pollution Control Act, the Federal Clean Air Act, the Hazardous Materials
Transportation Act, the Toxic Substances Control Act, the Safe Drinking Water
Act, the Massachusetts Oil and Hazardous Materials Release Prevention and
Response Act, the Massachusetts Hazardous Waste 

 8
 

Management Act,
Massachusetts Clean Waters Act, the Massachusetts Clean Air Act, the
Massachusetts Environmental Policy Act, the Rhode Island Hazardous Waste
Management Act and Title 22A entitled “Environmental Protection” of the
Connecticut General Statutes.

“Environmental Reports” shall mean,
collectively, those certain Phase I site assessment reports relating to the
Properties that are identified on EXHIBIT H
attached hereto.

“Escrow Agent” shall mean First
American.

“Escrow Demand” shall have the meaning
ascribed to such term in Section 2.3(b)
of this Agreement.

“Estimated Expenses” shall have the
meaning ascribed to such term in Section 8.4(c)(iv)
of this Agreement.

“Estoppel Threshold Limit”  shall have the meaning ascribed to such
term in Section 11.4
of this Agreement.

“Executive Order” shall mean Executive
Order No. 133224, 66 Fed. Reg. 49079, issued on September 25, 2001.

“Existing Loans” shall mean,
collectively, the Harwich Loan, the New Bedford Loan and the Norwell Loan.

“Existing Surveys” shall mean,
collectively, the instrument surveys of the Land listed on EXHIBIT K attached hereto.

“Expiration Date” shall mean the first
anniversary of the Closing Date.

“Express Representations and Warranties”
shall have the meaning ascribed to such term in Section 5.2.

“Family Members” shall mean, as to any
individual, such individual’s spouse and such individual’s ancestors,
descendants, siblings, nephews, nieces, and the spouse of any of such persons.

“Final Closing Adjustment” shall have
the meaning set forth in Section 8.4(i)
of this Agreement.

“Financed Properties” shall mean,
collectively, the Harwich Property, the New Bedford Property and the Norwell
Property.

“Financial Statements” shall mean,
collectively, all income and expense statements and year-end financial
statements for each Property for the two (2) most recent calendar years prior
to the Closing Date.

“Financing Assignment and Assumption Documents”
shall mean, collectively, the Harwich Loan Assignment and Assumption Documents,
the New Bedford Loan Assignment and Assumption Documents and the Norwell
Assignment and Assumption Documents.

 9
 

“Financing Documents” shall mean,
collectively, the Harwich Loan Documents, the New Bedford Loan Documents and
the Norwell Loan Documents.

“First American” shall mean First
American Title Insurance Company.

“Governmental Authorities” shall mean,
collectively, all agencies, authorities, bodies, boards, commissions, courts,
instrumentalities, legislatures and offices of any nature whatsoever for any
government unit or political subdivision, whether federal, state, county,
district, municipal, city or otherwise, and whether now or hereafter in
existence.

“Governmental Commitments” shall mean,
collectively, (i) the Harwich DRI
Decision, (ii) the Harwich
Certificate of Final Compliance, (iii)
the Harwich Escrow Agreement, (iv)
the Orleans Groundwater Discharge Permit, (ix)
the Orleans DRI Decision, (v) the
Orleans Certificate of Final Compliance, (vii)
the Orleans Escrow Agreement, (viii)
the Norwell Permit and (ix) the
Sandwich Permit.

“Gross Leases” shall have the meaning
ascribed to such term in Section 8.4(c)(iv)
of this Agreement.

“Guarantor” shall mean any Person that
has executed and delivered a Guaranty.

“Guaranty” shall mean any guaranty of
any Tenant’s obligations under any Lease.

“Hancock” shall mean the John Hancock
Life Insurance Company.

“Hanover Articles of Association” shall
mean the Articles of Association (Charter) of Tedeschi Hanover Condominium Unit
Owners’ Association, dated as of August 13, 1998, and recorded with the
Plymouth Registry at Book 16511, Page 200, as amended.

“Hanover Board of Managers” shall mean
the managing board of the Hanover Unit Owners’ Association created by the
Hanover Condominium Documents.

“Hanover By-Laws” shall mean the By-Laws
of the Hanover Condominium Unit Owners’ Association, dated as of August 13,
1998, and recorded with the Plymouth Registry at Book 16511, Page 209, as
amended.

“Hanover Condominium” shall mean the
Columbia Hanover Condominium created by the Hanover Master Deed and governed by
the provisions of Chapter 183A of the Massachusetts General Laws.

“Hanover Condominium Documents” shall
mean, collectively, the Hanover Articles of Association, the Hanover By-Laws
and the Hanover Master Deed.

“Hanover Condominium Common Elements”
shall mean the common areas and facilities of the Hanover Condominium as set
forth in the Hanover Condominium Master Deed.

“Hanover Condominium Units” shall mean,
collectively, Unit 1, Unit 3, Unit 4 and Unit 5 of the Hanover Condominium,
together with (i) the undivided
interest appurtenant thereto in and to the Hanover Condominium Common Elements
and (ii) the benefit of and
subject to the 

 10
 

rights, easements,
restrictions, covenants, agreements, obligations, conditions and other
provisions of the Hanover Condominium Documents.

“Hanover Consultant” shall have the
meaning ascribed to such term in Section 3.4(f)
of this Agreement.

“Hanover Land” shall mean the land more
particularly described on EXHIBIT B-7
attached hereto.

“Hanover Leases” shall mean,
collectively, the Leases affecting all or any portion of the Hanover Land, as
more particularly described on EXHIBIT C-7
attached hereto.

“Hanover Master Deed” shall mean that
certain Master Deed, dated as of August 13, 1998, and recorded with the
Plymouth County Registry of Deeds at Book 16511, Page 183, as amended by that
certain First Amendment to Master Deed, dated as of January 29, 1999, recorded
with the Plymouth Registry at Book 17346, Page 16 and that certain Second
Amendment to Master Deed, dated as of April 12, 2007, recorded with the Plymouth
Registry at Book 34434, Page 288.

“Hanover Officers” shall mean,
collectively, the officers of the Hanover Condominium Unit Owners’ Association.

“Hanover Property” shall mean the
Hanover Condominium Units.

“Hanover Septic System” shall have the
meaning ascribed to such term in  Section 3.4(f)
of this Agreement.

“Hanover Septic System Security Amount”
shall mean an amount equal to SIX HUNDRED
THOUSAND DOLLARS ($600,000).

“Hanover Unit Owners’ Association” shall
mean the non-profit unincorporated association of the owners of each unit of
the Hanover Condominium, created pursuant to the Hanover Articles of
Association in order to manage and regulate the Hanover Condominium and
governed by the provisions of Chapter 183A of the Massachusetts General Laws
and the Hanover Condominium Documents.

“Hanover UST” shall mean the underground
storage tank located under the Adjacent Hanover Land near the western boundary
of the Hanover Land near Unit 1 of the Hanover Condominium.

“Hanover UST Escrow” shall have the
meaning ascribed to such term in Section 3.4(f)
of this Agreement.

“Hanover UST Plan of Remediation” shall
have the meaning ascribed to such term in Section
3.4(f) of this Agreement.

“Hanover UST Removal Certification”
shall have the meaning ascribed to such term in Section 3.4(f) of this Agreement.

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“Hanover UST Security Amount” shall have
the meaning ascribed to such term in Section
3.4(f) of this Agreement.

“Hanover Work” shall have the meaning
ascribed to such term in  Section 3.4(f)
of this Agreement.

“Hanwell Beneficiary” shall mean Hanwell
Associates LLP, a Massachusetts limited liability partnership.

“Hanwell Trust” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Harwich Certificate of Final Compliance”
shall mean the Final Certificate of Compliance, dated June 19, 2003, issued by
the CCC relating to the Harwich Property (with respect to Project #TR20061).

“Harwich Consents” shall have the
meaning ascribed to such term in Section 3.4(b)
of this Agreement.

“Harwich DRI Decision” shall mean the
Development of Regional Impact Decision, dated August 8, 2002, as amended,
issued by the CCC, relating to the Harwich Property (with respect to Project
#TR20061).

“Harwich Escrow Agreement” shall mean
that certain Escrow Agreement dated as of May 28, 2003 between Tedeschi Realty,
the CCC and the Harwich/Orleans Escrow Agent.

“Harwich Escrow Assignment” shall have
the meaning ascribed to such term in Section 3.4(g)
of this Agreement.

“Harwich Escrow Funds” shall have the
meaning ascribed to such term in Section 3.4(g)
of this Agreement.

“Harwich Escrow Notice” shall have the
meaning ascribed to such term in Section 3.4(g)
of this Agreement.

“Harwich/Orleans Escrow Agent” shall
mean the Barnstable County Treasurer.

“Harwich Indemnity” shall mean that
certain Indemnification Agreement, dated August 21, 2003, executed by Tedeschi
Realty and TCT for the benefit of Hancock.

“Harwich Land” shall mean the land more
particularly described on EXHIBIT B-8
attached hereto.

“Harwich Leases” shall mean, collectively,
the Leases affecting all or any portion of the Harwich Land as more
particularly described on EXHIBIT C-8
attached hereto.

“Harwich Loan” shall mean that certain
loan in the original principal amount of EIGHT
MILLION DOLLARS ($8,000,000) made by Hancock to Tedeschi Realty.

 12
 

“Harwich Loan Assignment and Assumption Documents”
shall have the meaning ascribed to such term in Section 3.4(b) of this Agreement.

“Harwich Loan Documents” shall mean,
collectively, all of the documents evidencing and/or securing the Harwich Loan.

“Harwich
Loan Guaranty” shall mean that certain Guaranty
Agreement, dated August 21, 2003, executed by TCT in favor of Hancock.

“Harwich Mortgage” shall mean that
certain Mortgage, Assignment of Leases and Rents and Security Agreement, dated
as of August 21, 2003, granted by Tedeschi Realty to Hancock, recorded with the
Barnstable Registry in Book 17550, Page 152.

“Harwich Property” shall mean,
collectively, the Harwich Land and the Improvements located thereon.

“Harwich Shaw’s Lease” shall mean that
certain Lease, dated as of January 8, 2003, as amended, between Tedeschi Realty
and Shaw’s Supermarkets, Inc.

“Harwich Traffic Signals” shall have the
meaning ascribed to such term in Section 3.4(g)
of this Agreement.

“Hazardous Materials” shall mean 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. Section 9601 et seq.)
or any regulations promulgated thereunder; (ii)
any “hazardous waste” as now or hereafter defined the Resource Conservation and
Recovery Act (42 U.S.C. Section 6901 et seq.)
or regulations promulgated thereunder; (iii)
any substance regulated by the Toxic Substances Control Act (15 U.S.C.
Section 2601 et seq.); (iv) gasoline, diesel fuel or other
petroleum hydrocarbons; (v)
asbestos and asbestos containing materials, in any form, whether friable or
nonfriable; (vi) polychlorinated
biphenyls; (vii) radon gas; (viii) any lead or lead based paints or
materials; (ix) mold, fungi, yeast
or similar biological agents that may have an adverse effect on human health
and (x) any additional substances
or materials which are classified or considered to be hazardous or toxic under
any laws, ordinances, statutes, codes, rules, regulations, agreements,
judgments, orders and decrees now or hereafter enacted, promulgated, or
amended, of the United States, the states, the counties, the cities or any
other political subdivisions in which the Properties are located and any other
political subdivision, agency or instrumentality exercising jurisdiction over
the owner of any Property, any Property or the use of any Property relating to
pollution, the protection or regulation of human health, natural resources or
the environment, or the emission, discharge, release or threatened release of
pollutants, contaminants, chemicals or industrial, toxic or hazardous
substances or waste into the environment (including ambient air, surface water,
ground water or land or soil).

“Holbrook Land” shall mean the land more
particularly described on EXHIBIT B-9
attached hereto.

“Holbrook Leases” shall mean,
collectively, the Leases affecting all or any portion of the Holbrook Land as
more particularly described on EXHIBIT C-9
attached hereto.

 13
 

“Holbrook Property” shall mean,
collectively, the Holbrook Land and the Improvements located thereon.

“Hyannis Land” shall mean the land more
particularly described on EXHIBIT B-10
attached hereto.

“Hyannis Leases” shall mean, collectively,
the Leases affecting all or any portion of the Hyannis Land as more
particularly described on EXHIBIT C-10
attached hereto.

“Hyannis Property” shall mean,
collectively, the Hyannis Land and the Improvements located thereon.

“Hyannis Stop & Shop Lease” shall
mean that certain Ground Lease, dated January 1, 1996, between Tedeschi Realty,
as landlord, and Stop & Shop, as tenant.

“Identified Title/Survey Issues” shall
have the meaning ascribed to such term in Section 3.1(p)
of this Agreement.

“Improvements” shall mean, collectively,
all buildings, structures and other improvements located on any Land Parcel
together with all fixtures, systems (including, without limitation, electrical,
mechanical, HVAC, plumbing, sewage and utility systems) and facilities, if any
located thereon.

“Intangible Property” shall mean, with
respect to any Property, all of the right, title and interest, if any, of the
applicable Seller that owns such Property and, to the extent applicable,
Tedeschi Realty in (a) all
warranties and guaranties and Permits pertaining to such Property, (b) all Contracts pertaining to such
Property, (c) all Plans pertaining
to such Property, (d) all trade
names and trademarks, (e) all
intangible property, goodwill, rights and privileges pertaining to such
Property and (f) all Claims
pertaining to such Property; in each case to the extent that such Seller may
legally transfer the same.

“Interim Closing Adjustment” shall have
the meaning ascribed to such term in Section 8.4(h)
of this Agreement.

“Jones Lang” shall mean Jones Lang
LaSalle Americas, Inc.

“Judgment Liens” shall mean,
collectively, all involuntary or voluntary (i) Encumbrances
encumbering any of the Assets that secure ascertainable amounts and are caused
by the actions or omissions of any Seller and (ii)
Encumbrances encumbering any of the Assets that secure ascertainable
amounts, not caused by the acts or omissions of any Seller or any Tenant, up to
an amount not to exceed FIVE HUNDRED THOUSAND
DOLLARS ($500,000), in the aggregate; excluding, however,
all Seller Mortgages.

“Kingsbury SPM” shall mean Kingsbury
SPM, Inc., a Massachusetts corporation.

“Kingsbury Square” shall have the
meaning ascribed to such term in the preamble of this Agreement.

“Kingston Land” shall mean the land more
particularly described on EXHIBIT B-11
attached hereto.

 14
 

“Kingston Leases” shall mean,
collectively, the Leases affecting all or any portion of the Kingston Land as
more particularly described on EXHIBIT C-11
attached hereto.

“Kingston Property” shall mean the
Kingston Land and the Improvements located thereon.

“Land” shall mean, collectively, all of
the Land Parcels.

“Land Parcel” shall mean each parcel of
land described on EXHIBIT B-1
through and including EXHIBIT B-26
attached hereto, together with the interest, if any, of the applicable Seller
that is the owner of the fee interest of such land in all privileges,
development and other rights, easements, hereditaments and appurtenances
thereto and all right, title and interest, if any, of the applicable Seller in
and to any streets, alleys, passages and other rights-of-way included therein
or adjacent thereto (before or after the vacation thereof).

“Landlord Estoppel Certificate” shall
have the meaning ascribed to such term in Section 3.1(i)
of this Agreement.

“Lease Documents” shall mean,
collectively, each Lease, Guaranty and all other documents evidencing,
guarantying and/or securing any material obligation of any Tenant under any
Lease.

“Lease Documents Schedule” shall mean
the list of Lease Documents described on EXHIBIT C-1
attached hereto through and including EXHIBIT C-26
attached hereto.

“Lease Year” shall mean, with respect to
any Lease, the applicable lease year or calendar year that is used as the
measuring period under such Lease for the computation of Rent.

“Leases” shall mean, collectively, all
leases, licenses, agreements, concession agreements, tenancy at will
agreements, and all other occupancy agreements of every kind and nature (but
excluding Nondisturbance Agreements), whether oral or in writing, now in
existence, entered into by, or assigned to and assumed by any Seller,
encumbering or affecting all or any portion of any Property.

“Legal Requirements” shall mean,
collectively, all federal, state and local statutes, ordinances, by-laws,
codes, rules, regulations, restrictions, orders, judgments, decrees and
injunctions affecting any Seller, the Purchaser, any Tenant, any Guarantor, any
of the Assets or the transaction contemplated by this Agreement.

“Limitation Threshold” shall mean TWO HUNDRED FIFTY THOUSAND  DOLLARS ($250,000).

“Liquidity Event” shall mean (a) the sale of all or substantially of all
of a Person’s assets, (b) an
assignment by operation of law resulting from a merger, consolidation or
non-bankruptcy reorganization or (c)
a change in the majority control of a Person resulting from (i) any transfer, sale or assignment of
shares of stock in a Person occurring in connection with an initial public
offering or (ii) a change in the
management of such Person through the sale or termination of the advisory
agreement with Dividend Capital Total Advisors LLC.

“Lists” shall have the meaning ascribed
to such term in Section 7.1(g)
of this Agreement.

 15
 

“LSP” shall have the meaning ascribed to
such term in Section 3.4(s)
of this Agreement.

“LSP Final Notice” shall have the
meaning ascribed to such term in Section 3.4(s)
of this Agreement.

“Major Leases”  shall mean, collectively, the Leases to which any Major
Tenant is a party, excluding, however, the New Bedford (Shaw’s) Lease.

“Major Tenants”  shall mean, collectively, Stop & Shop,
Shaw’s and CVS.

“Managers” shall mean, collectively,
Kingsbury SPM and Meriden SPM.

“Manomet Land” shall mean the land more
particularly described on EXHIBIT B-12
attached hereto.

“Manomet Leases” shall mean,
collectively, the Leases affecting all or any portion of the Manomet Land, as
more particularly described on EXHIBIT C-12
attached hereto.

“Manomet Property” shall mean,
collectively, the Manomet Land and the Improvements located thereon.

“Mansfield Land”  shall mean the land more particularly
described on EXHIBIT B-13
attached hereto.

“Mansfield Leases” shall mean,
collectively, the Leases affecting all or any portion of the Mansfield Land as
more particularly described on EXHIBIT C-13
attached hereto.

“Mansfield Property” shall mean,
collectively, the Mansfield Land and the Improvements located thereon.

“Mansfield Stop & Shop Lease” shall
mean that certain Master Lease, dated April 1, 1998, between TD Mansfield, as
landlord, and Stop & Shop, as tenant.

“Massachusetts DEP” shall mean the
Department of Environmental Protection of the Executive Office of Environmental
Affairs of the Commonwealth of Massachusetts.

“Material Encroachment” shall mean any
encroachment shown on any of the Purchaser’s Surveys by (i) any of the Improvements over any
easement, right of way or any adjoining property or (ii) any improvement located on any adjoining property onto
any Property, but, only if such encroachment (1) was not shown on any Existing Survey and (2) materially and adversely interferes
with the current use, operation or ownership of any Property or any adjacent
property.

“Material Leases” shall mean,
collectively and with respect to each Property identified thereon, the Leases
pertaining to the Tenants (or retail businesses) identified on EXHIBIT I attached hereto.

“Material Matters” when capitalized and
used in this Agreement shall mean, solely as it relates to any of the matters
set forth in Section 3.1
hereof, any obligation, liability, expense, debt, claim or right having a value
or impact, either by itself or in the aggregate with respect to 

 16
 

all such matters, in
excess of ONE MILLION FIVE HUNDRED THOUSAND
DOLLARS ($1,500,000).

“Material Matters Threshold” shall have
the meaning ascribed to such term in Section 3.5(a)
of this Agreement.

“Material Tenants” shall mean,
collectively, the Tenants under the Material Leases.

“Maximum Aggregate Liability” shall mean
FIVE MILLION  DOLLARS ($5,000,000).

“Mechanics’ Liens” shall mean,
collectively, all mechanic’s or materialman’s liens and all other Encumbrances
relating to any Property that (i)
any Tenant is required to satisfy or release pursuant to any of the Lease
Documents and (ii) in aggregate
for all Properties, taken as a whole, do not exceed FIVE HUNDRED THOUSAND DOLLARS ($500,000).

“Meriden Land” shall mean the land more
particularly described on EXHIBIT B-14
attached hereto.

“Meriden Leases” shall mean,
collectively, the Leases affecting all or any portion of the Meriden Land as
are more particularly described on EXHIBIT C-14
attached hereto.

“Meriden Property” shall mean,
collectively, the Meriden Land and the Improvements located thereon.

“Meriden Realty” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Meriden SPM” shall mean Meriden SPM,
Inc., a Massachusetts corporation.

“Meriden Stop & Shop Lease” shall
mean that certain Master Lease, dated February 11, 2000, between Meriden
Realty, as landlord, and Stop & Shop, as tenant, as amended.

“Meriden Stop & Shop Lease Guaranty”
shall mean that certain Guaranty, dated February, 2000, from Koninklijke Ahold,
N.V., as guarantor.

“Middleboro Associates” shall have the
meaning ascribed to such term in the preamble of this Agreement.

“Middleboro Land” shall mean the land
more particularly described on EXHIBIT B-15
attached hereto.

“Middleboro Leases” shall mean,
collectively, the Leases affecting all or any portion of the Middleboro Land as
more particularly described on EXHIBIT C-15
attached hereto.

“Middleboro Property” shall mean,
collectively, the Middleboro Land and the Improvements located thereon.

“Middleboro Testing Results”  shall have the meaning ascribed to such
term in Section 3.4(s)
of this Agreement.

 17
 

“Minimum Rent” shall mean, collectively,
all “minimum rent,” “fixed rent,” “base rent” and rent of any similar
description as provided in any Lease.

“New Bedford Consents” shall have the
meaning ascribed to such term in Section 3.4(c)
of this Agreement.

“New
Bedford Indemnity” shall mean that certain
Indemnification Agreement, dated November 3, 2004, executed by Cove Road and
TCT for the benefit of Hancock.

“New Bedford Land” shall mean the land
more particularly described on EXHIBIT B-16
attached hereto.

“New Bedford Leases” shall mean,
collectively, the Leases affecting all or any portion of the New Bedford Land
as more particularly described on EXHIBIT C-16
attached hereto.

“New Bedford Loan” shall mean that
certain loan in the original principal amount of TEN MILLION FOUR HUNDRED THOUSAND DOLLARS ($10,400,000) made
by Cove Road to Hancock.

“New Bedford Loan Assignment and Assumption Documents”
shall have the meaning ascribed to such term in Section 3.4(c) of this Agreement.

“New Bedford Loan Documents” shall mean,
collectively, all of the documents evidencing and/or securing the New Bedford
Loan.

“New
Bedford Loan Guaranty” shall mean that certain Guaranty
Agreement, dated November 3, 2004, executed by TCT in favor of Hancock.

“New Bedford Mortgage” shall mean that
certain Mortgage, Assignment of Leases and Rents and Security Agreement, dated
as of November 3, 2004, granted by Cove Road to Hancock and recorded with the
Bristol Registry in Book 7260, Page 303.

“New Bedford Property” shall mean,
collectively, the New Bedford Land and the Improvements located thereon.

“New Bedford (Shaw’s) Lease” shall mean
that certain Lease, dated March 5, 2003, between Cove Road, as landlord, and
Shaw’s Supermarkets, Inc., as tenant, as amended.

“Nondisturbance Agreements” shall mean,
collectively, all agreements that may be currently in force and effect entered
into by any Seller (or by which any Seller may be bound), pursuant to which
such Seller has agreed to recognize the occupancy rights of any subtenant under
any sublease relating to any portion of the Property and has agreed, subject to
the terms and conditions set forth therein, that such occupancy rights shall
not be terminated by such Seller as a result of any default under or
termination of any Lease.

“North Hanover Land” shall mean the land
more particularly described on EXHIBIT B-17
attached hereto.

“North Hanover Leases” shall mean,
collectively, the Leases affecting all or any portion of the North Hanover Land
as more particularly described on EXHIBIT C-17
attached hereto.

 18
 

“North Hanover Property” shall mean,
collectively, the North Hanover Land and the Improvements located thereon.

“Norwell Consents” shall have the
meaning ascribed to such term in Section 3.4(d)
of this Agreement.

“Norwell Indemnity”  shall mean that certain Indemnification
Agreement, dated September       , 2002, executed
by Tedeschi-Norwell and TCT for the benefit of Hancock.

“Norwell Land” shall mean the land more
particularly described on EXHIBIT B-18
attached hereto.

“Norwell Leases” shall mean,
collectively, the Leases affecting all or any portion of the Norwell Land as
more particularly described on EXHIBIT C-18
attached hereto.

“Norwell Loan” shall mean that certain
loan in the original principal amount of TEN
MILLION DOLLARS ($10,000,000) made by Hancock to Tedeschi-Norwell.

“Norwell Loan Assignment and Assumption Documents”
shall have the meaning ascribed to such term in Section 3.4(d) of this Agreement.

“Norwell Loan Documents” shall mean,
collectively, all of the documents evidencing and/or securing the Norwell Loan.

“Norwell
Loan Guaranty” shall mean that certain Guaranty
Agreement, dated September       , 2002, executed
by TCT in favor of Hancock.

“Norwell Mortgage” shall mean that
certain Mortgage, Assignment of Leases and Rents and Security Agreement, dated
as of September 17, 2002, granted by Tedeschi-Norwell to Hancock, recorded with
the Plymouth Registry in Book 22906, Page 186.

“Norwell Permit” shall mean the
approval, dated January 25, 2001, for an alternative on-site sewage treatment
and disposal system relating to the Norwell Property, issued by the
Massachusetts DEP.

“Norwell Property” shall mean,
collectively, the Norwell Land and the Improvements located thereon.

“Norwell Stop & Shop Lease” shall
mean that certain Lease, dated April 23, 2001, between Tedeschi-Norwell, as
landlord, and Stop & Shop, as tenant.

“Notices” shall have the meaning
ascribed to such term in Section 12.8
of this Agreement.

“Notice to Subtenant” shall mean a
notice in the form attached hereto as EXHIBIT J-1
advising the applicable Recognized Subtenant of the change of ownership of the
applicable Property.

 19
 

“Notice to Tenant” shall mean a notice
substantially in the form attached hereto as EXHIBIT J-2 advising the applicable Tenant of
the change of ownership of the applicable Property and directing that all
amounts becoming due and payable under the applicable Lease from and after the
Closing Date be paid to or at the direction of the Purchaser.

“Notified Party” shall have the meaning
ascribed to such term in Section 2.3(b)
of this Agreement.

“Notifying Party” shall have the meaning
ascribed to such term in Section 2.3(b)
of this Agreement.

“Objection” shall mean (i) any Encumbrance that does not
constitute a Permitted Exception, (ii)
any Material Encroachment or (iii)
any material adverse revision to the Title Commitments based on the Purchaser’s
Surveys (other than with respect to any zoning endorsements).

“OFAC” shall mean the United States
Department of Treasury’s Office of Foreign Assets Control.

“Omnibus Access Agreement” shall mean
that certain Access Agreement of even date herewith by and among all of the
Sellers, other than Middleboro Associates and Skaket Associates Trust, and the
Purchaser.

“Operating Statements” shall mean,
collectively (a) all income and
expense statements, year-end financial statements and proposed budgets for each
Property for the two (2) most recent calendar years prior to the Closing Date, (b) monthly operating statements for the
period January 1, 2007 through March 31, 2007, (c) Tenant ledgers, for the two (2) most recent calendar years
and current year to date, reflecting each individual Tenant’s payment history
under such Tenant’s Lease, (d) for
the two (2) most recent calendar years and current year to date detailed common
area maintenance reconciliations for each Tenant under the Leases, and (e) for the two (2) most recent calendar
years and year to date general ledger statements detailing operating expenses
for each Property.

“Option Leases” shall mean,
collectively, the Abington Stop & Shop Lease, the Hyannis Stop & Shop
Lease, the Mansfield Stop & Shop Lease, the Meriden Stop & Shop Lease,
the Norwell Stop & Shop Lease, the Sandwich Stop & Shop Lease and the
Whitman Stop & Shop Lease.

“Orders” shall have the meaning ascribed
to such term in Section 7.1(g)
of this Agreement.

“Orleans Certificate of Final Compliance”
shall mean the Final Certificate of Compliance, dated April 26, 2007, issued by
the CCC relating to the Orleans Property (with respect to Project #TR02002).

“Orleans DRI Decision” shall mean the
Development of Regional Impact Decision, dated as of July 21, 2005, as amended,
issued by the CCC with respect to the Orleans Property (with respect to Project
#TR02002).

 20
 

“Orleans Escrow Agreement” shall mean
that certain Escrow Agreement dated as of April 26, 2007 by and between the
CCC, Tedeschi Realty and the Harwich/Orleans Escrow Agent relating to the TEN THOUSAND DOLLARS ($10,000) that
Tedeschi Realty provided to the Harwich/Orleans Escrow Agent as security to
assure that the lighting at the Orleans Property would comply with the CCC’s
height and illumination requirements.

“Orleans Groundwater Discharge Permit”
shall mean Groundwater Discharge Permit SE #0-788 issued by the Southeast
Regional Office of the Massachusetts DEP.

“Orleans Groundwater Discharge Permit Assignment”
shall have the meaning ascribed to such term in Section 3.4(e) of this Agreement.

“Orleans Land” shall mean the land more
particularly described on EXHIBIT B-19
attached hereto.

“Orleans Leases” shall mean,
collectively, the Leases affecting all or any portion of the Orleans Land as
more particularly described on EXHIBIT C-19
attached hereto.

“Orleans Lighting Work” shall have the
meaning ascribed to such term in Section 3.4(e)
of this Agreement.

“Orleans/Middleboro Access Agreement”
shall mean that certain Access Agreement, dated as of May 29, 2007, by and
among Skaket Associates Trust, Middleboro Associates and the Purchaser.

“Orleans Property” shall mean,
collectively, the Orleans Land and the Improvements located thereon.

“Orleans Security” shall have the
meaning ascribed to such term in Section 3.4(e)
of this Agreement.

“Orleans Testing Results”  shall have the meaning ascribed to such
term in Section 3.4(s)
of this Agreement.

“Other Estoppel Certificates”  shall have the meaning ascribed to such
term in Section 3.4(t)
of this Agreement.

“Other Requested Estoppel Matters” shall
have the meaning ascribed to such term in Section 3.4(t)
of this Agreement.

“Other Tenants” shall mean,
collectively, all of the Tenants excluding the Major Tenants.

“Percentage Rent” shall mean,
collectively, all “percentage rent” as defined under any Lease and rent of any
similar description as provided under any Lease.

“Percentage Rent Leases” shall have the
meaning ascribed to such term in Section 8.4(c)(iii)
of this Agreement.

 21
 

“Percentage Rent Year” shall mean, with
respect to any Percentage Rent Lease, the applicable lease year or calendar
year that is used as the measuring period under such Percentage Rent Lease for
the computation of Percentage Rent.

“Permits” shall mean, collectively, all
permits, licenses, approvals, qualifications, rights, variances, permissive
uses, accreditations, certificates, certifications, consents, agreements,
contracts, contract rights, franchises, interim licenses, permits and other
authorizations of every nature whatsoever required by, or issued under,
applicable Legal Requirements benefiting, relating or affecting any Property
issued by any or entered into with any Governmental Authority.

“Permitted Exceptions” shall mean,
collectively: (a) all matters
disclosed in Schedule B — Section 2 of the Title Commitments, excluding,
however, (i) all Seller
Mortgages, (ii) all Judgment Liens
and (iii) any Identified
Title/Survey Issue (unless such Identified Title/Survey Issue is resolved as
set forth on EXHIBIT PP);
(b) all matters disclosed by
the Existing Surveys other than any Identified Title/Survey Issue (unless such
Identified Title/Survey Issue is resolved as set forth on EXHIBIT PP); (c) all applicable Legal Requirements; (d) any Encumbrance created after the
date of this Agreement and approved in writing by the Purchaser; (e) the Financing Documents; (f) Real Estate Taxes for the then current
fiscal year that are not due and payable as of the Closing Date; (g) the Lease Documents expressly
identified on the Lease Documents Schedule or entered into after the Effective
Date in accordance with the terms of this Agreement; (h) the Nondisturbance Agreements expressly identified on EXHIBIT U; (i) all matters, whether or not of record, that are
caused by the actions (or omissions) of the Purchaser or its agents,
representatives or contractors and (j) all
Mechanics’ Liens.

“Permitted Transfers” shall mean the
transfer of any direct or indirect ownership interest in any Seller by any
Beneficial Owner to (i) any other
Beneficial Owner or any entity owned or controlled by any other Beneficial
Owner, (ii) any Family Member of
such Beneficial Owner or of any other Beneficial Owner, (iii) any entity owned or controlled by one
or more Family Members of such Beneficial Owner or of any other Beneficial
Owner and (iv) any trust or
estate planning vehicle created for the benefit of one or more Family Members
of such Beneficial Owner or of any other Beneficial Owner.

“Person” shall mean any individual,
estate, trust, partnership, limited liability company, limited liability
partnership, corporation, Governmental Authority or other legal entity.

“Personal Property” shall mean,
collectively, all furniture, furnishings, equipment, machinery, inventories,
supplies, signs and other items of tangible personal property, if any, owned by
any Seller which are installed, located or situated on any Property.

“Plans” shall mean, collectively, all
site plans, architectural renderings, plans and specifications, engineering
plans, as-built drawings, floor plans and other similar plans or diagrams, if
any, which are now or hereafter in any Seller’s possession or under any Seller’s
reasonable control and which relate to any Property.

“Plymouth Registry” shall have the
meaning ascribed to such term in the preamble of this Agreement.

 22
 

“Primary Properties”  shall mean, collectively, the Braintree
Property, the Orleans Property, the Sandwich Property and the Wareham Property.

“Prior Meriden Owner” shall have the
meaning ascribed to such term in Section 3.4(o)
of this Agreement.

“Properties” shall mean, collectively,
the Abington Property, the Braintree Property, the Brockton (Eastway Plaza)
Property, the Brockton (Westgate Plaza) Property, the Cohasset Property, the
Cranston Property, the Hanover Property, the Harwich Property, the Holbrook Property,
the Hyannis Property, the Kingston Property, the Manomet Property, the
Mansfield Property, the Meriden Property, the Middleboro Property, the New
Bedford Property, the North Hanover Property, the Norwell Property, the Orleans
Property, the Rockland (Market Street) Property, the Rockland (Pharmacy)
Property, the Sandwich Property, the Wareham Property, the Weymouth Property,
the Whitman (Stop & Shop Plaza) Property and the Whitman (Food Master
Plaza) Property.

“Property Expenses” shall have the meaning
ascribed to such term in Section 8.4(c)
of this Agreement.

“Property Tax Proceeding” shall have the
meaning ascribed to such term in Section 8.4(b)
of this Agreement.

“Purchase Escrow Funds” shall mean,
collectively, all of the funds (including, without limitation, the Deposit)
held in escrow by the Escrow Agent in accordance with the terms hereof
(including, without limitation, any interest and/or dividends thereon).

“Purchase Price” shall mean the purchase
price for the Assets as specified in Section 2.2
of this Agreement.

“Purchaser” shall have the meaning set
forth in the preamble of this Agreement and shall include its successors and
assigns.

“Purchaser’s Agents” shall mean,
collectively, all of the Purchaser’s directors, officers, agents, investors,
members, attorneys, partners, consultants, employees, potential lenders and
advisors.

“Purchaser’s Closing Certification”
shall have the meaning ascribed to such term in Section 7.1 of this Agreement.

“Purchaser’s
Documents” shall mean, collectively, all documents
required to be delivered by the Purchaser at the Closing in order to effectuate
the consummation of the transactions contemplated hereunder.

“Purchaser’s OFAC Notification” shall
have the meaning ascribed to such term in Section 3.4(k)
of this Agreement.

“Purchaser’s Post-Closing Termination Notice”
shall have the meaning ascribed to such term in Section 10.2 of this Agreement.

 23
 

“Purchaser’s Surveys” shall mean,
collectively, any new ALTA surveys of the Properties and any updates of the
Existing Surveys obtained by the Purchaser.

“RAO” shall have the meaning ascribed to
such term in Section 3.4(s)
of this Agreement.

“REA Estoppels” shall have the meaning
ascribed to such term in Section 3.4(q)
of this Agreement.

“Real Estate Taxes” shall mean, collectively,
all taxes, assessments, and other charges, if any, general, special or
otherwise (including, without limitation, all assessments for public
betterments and general or local improvements), levied or assessed upon or with
respect to the ownership of and/or all other taxable interests in any Property
imposed by any public or quasi-public authority.

“Recognized Subleases” shall mean,
collectively, all subleases that may be in force and effect relating to any
portion of any Property that (i)
have been approved by the applicable Seller that owns such Property (or such
Seller’s predecessor-in-interest by which such Seller may be bound) and (ii) are entitled to the benefits of
agreements made by such Seller in any Nondisturbance Agreement.

“Recognized Subtenants” shall mean,
collectively, all lessees under any Recognized Subleases.

“Reimbursable Due Diligence Costs” shall
have the meaning ascribed to such term in Section 8.4(j)
of this Agreement.

“Reimbursement Agreements” shall have
the meaning ascribed to such term in Section 8.4(g)
of this Agreement.

“Rejected Property” shall have the
meaning ascribed thereto in Section 10.3
of this Agreement.

“Rejection Notices” shall mean,
collectively, all Casualty Rejection Notices and Condemnation Rejection Notices
provided to the Sellers in accordance with Article
6 of this Agreement.

“Rent Roll” shall have the meaning
ascribed to such term in Section 7.2(d)
of this Agreement.

“Rents” shall mean, collectively, all
Minimum Rent and Additional Rent, but, excluding, Percentage Rent.

“Resignations” shall mean, collectively,
duly executed resignations from the Hanover Board of Managers from (i) Timothy N. Tedeschi, together with
any other individuals that the owner of Unit 2 does not have the right to
appoint (in recordable form) and (ii) the
Hanover Officers.

“Retention Amount” shall mean the sum of
(i) an amount equal to the Maximum
Aggregate Liability minus the aggregate sum of all amounts, if any, paid
to the Purchaser pursuant to Section 1
of the Umbrella Guaranty plus  (ii)
the Hanover Septic Security System 

 24
 

Amount (but only until
the Hanover Work is deemed to be complete in accordance with the provisions of Section 3.4(f) of this Agreement) plus
(iii) in the event that the Target
Estoppel Certificate is not delivered to the Purchaser prior to the
consummation of the Closing, FIVE HUNDRED
THOUSAND DOLLARS ($500,000) (but only until the Target Estoppel
Certificate is delivered to the Purchaser at which point the amount will be
adjusted in accordance with Section 3.4(p))
plus  (iv) in the event
that any Walmart Estoppel Certificate is not delivered to the Purchaser prior
to the consummation of the Closing, FIVE
HUNDRED THOUSAND DOLLARS ($500,000) for each such missing Walmart
Estoppel Certificate (but only until such Walmart Estoppel Certificate is
delivered to the Purchaser at which point the amount will be adjusted in
accordance with Section 3.4(p)).  Amounts retained in connection with the
Target Estoppel Certificate and the Walmart Estoppel Certificates shall be
subject to reduction as provided in Section 3.4(p).

“Rockland (Market Street) Land” shall
mean the land more particularly described on EXHIBIT B-20 attached hereto.

“Rockland (Market Street) Leases” shall
mean, collectively, the Leases affecting all or any portion of the Rockland
(Market Street) Land as more particularly described on EXHIBIT C-20 attached
hereto.

“Rockland (Market Street) Property”
shall mean the Rockland (Market Street) Land and the Improvements located
thereon.

“Rockland (Pharmacy) Land” shall mean
the land more particularly described on EXHIBIT B-21
attached hereto.

“Rockland (Pharmacy) Leases” shall mean,
collectively, the Leases affecting all or any portion of the Rockland
(Pharmacy) Land as particularly described on EXHIBIT C-21 attached hereto.

“Rockland (Pharmacy) Property” shall
mean, collectively, the Rockland (Pharmacy) Land and the Improvements located
thereon.

“Sandwich Associates Beneficiary” shall
mean Sandwich Associates, a Massachusetts general partnership

“Sandwich Associates LLC” shall mean
Sandwich Associates LLC, a Massachusetts limited liability company.

“Sandwich Associates Trust” shall have
the meaning ascribed to such term in the preamble of this Agreement.

“Sandwich Land” shall mean the land more
particularly described on EXHIBIT B-22
attached hereto.

“Sandwich Leases” shall mean,
collectively, the Leases affecting all or any portion of the Sandwich Land as
more particularly described on EXHIBIT C-22
attached hereto.

 25
 

“Sandwich Permit” shall mean Approval,
dated June 27, 2000, as amended, for an alternative on-site sewage
treatment and disposal system relating to the Sandwich Property, issued by the
Massachusetts DEP.

“Sandwich Property” shall mean,
collectively, the Sandwich Land and the Improvements located thereon.

 26
 

“Sandwich Stop & Shop Lease” shall
mean that certain Lease, dated September 20, 1999, between Sandwich Associates
Trust, as landlord, and Stop & Shop, as tenant.

“Security Deposits” shall mean,
collectively, all security deposits held by the Sellers under any of the
Leases.

“Security Deposit List” shall have the
meaning ascribed to such term in Section 7.2(d)(3).

“Securities Laws” shall mean the
Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as
amended, and the regulations promulgated thereunder.

“Seller LLCs” shall mean, collectively,
Eastway, Kingsbury Square, Beta, TD Mansfield, Meriden Realty, Middleboro
Associates, Cove Road, Tedeschi-Norwell, Skaket Associates LLC, Sandwich
Associates LLC, Tedeschi-Darman, T-Delta, Bedford-School and TD
Whitman.

“Seller Mortgage” shall mean any
monetary Encumbrance granted, assumed or taken subject to by any Seller (or any
predecessor in interest to any Seller), including, without limitation any UCC
Financing Statement, that encumbers any Seller’s interest in any of the Assets;
excluding, however, subject to Section 3.4(b) through Section 3.4(d), the Financing Documents.

“Seller Nominee Trusts” shall mean,
collectively, the Hanwell Trust, the Skaket Associates Trust, the Sandwich
Associates Trust and the Whitman Associates Trust.

“Seller Parties” shall mean,
collectively, the Sellers and the Sellers’ direct and indirect owners, and
their respective agents, officers, directors, trustees, partners, members,
advisors, managers and employees.

“Seller Representative” shall have the
meaning ascribed to such term in Section 12.4
of this Agreement.

“Sellers” shall mean, collectively,
Tedeschi Realty, Eastway, Kingsbury Square, Beta, TD Mansfield, Meriden
Realty, Middleboro Associates, Hanwell Trust, Cove Road, Tedeschi-Norwell,
Skaket Associates Trust, Sandwich Associates Trust, Tedeschi-Darman, T-Delta,
Bedford-School and Whitman Associates Trust.

“Sellers’ Closing Certification” shall
have the meaning ascribed to such term in Section 7.2
of this Agreement.

“Sellers’
Documents” shall mean, collectively, all documents
required to be delivered by the Sellers at the Closing in order to effectuate
the consummation of the transactions contemplated hereunder.

“Sellers’ Estimate” shall having the
meaning ascribed to such term in Section 6.1
of this Agreement.

“Sellers’ OFAC Notification” shall have
the meaning ascribed to such term in Section 3.4(k)
of this Agreement.

 27

“Sellers’ Post-Closing Termination Notice”
shall have the meaning ascribed to such term in Section 10.2 of this Agreement.

“Sellers’ Share of the Property Expenses”
shall have the meaning ascribed to such term in Section 8.4(c)(iv) of this Agreement.

“Sellers’ Utilities” shall have the
meaning ascribed to such term in Section 8.4(d)
of this Agreement.

“6(d) Certificate” shall mean a written
statement, in recordable form, executed by any member of the Hanover Board of
Managers disclosing all unpaid common charges and special assessments, if any,
due with respect to the Hanover Condominium Units.

“Skaket Associates Beneficiary” shall
mean Skaket Associates, a Massachusetts general partnership.

“Skaket Associates LLC” shall mean
Skaket Associates LLC, a Massachusetts limited liability company.

“Skaket Associates Trust” shall have the
meaning ascribed to such term in the preamble of this Agreement.

“Single Purpose Guarantor” shall have
the meaning ascribed to such term in Section 3.4(n).

“SNDAs” shall have the meaning ascribed
to such term in Section 3.4(r)
of this Agreement.

“Specially Designated National or Blocked Person”
shall mean (i) a Person designated
by OFAC from time to time as a “specially designated national or blocked person”
or similar status, (ii) a Person
described in Section 1 of the Executive Order, or (iii) a Person otherwise identified by a federal Governmental
Authority as a Person with whom a United States Person is prohibited from
transacting business.  As of the date
hereof, a list of such designations and the text of the Executive Order are
published under the internet website address
www.ustreas.gov/offices/enforcement/ofac.

“Stop & Shop” shall mean The Stop
& Shop Supermarket Company, a Delaware corporation.

“Subsequent Closing Date” shall have the
meaning ascribed to such term in Section 10.2
of this Agreement.

“Subsequent Closing Notice” shall have
the meaning ascribed to such term in Section 10.2
of this Agreement.

“Target Estoppel Certificate” shall mean
an estoppel certificate, substantially in the form attached hereto as EXHIBIT OO (relating to the Abington
Property), dated no earlier than the Effective Date, that reveals no material
outstanding obligation of or default by Tedeschi Realty.

 28
 

“TCT” shall mean Terrence C. Tedeschi of
Duxbury, Massachusetts.

“TD Mansfield” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“TD Whitman” shall mean TD Whitman LLC,
a Massachusetts limited liability company.

“T-Delta” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Tedeschi-Darman” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Tedeschi-Norwell” shall have the
meaning ascribed to such term in the preamble of this Agreement.

“Tedeschi Realty” shall have the meaning
ascribed to such term in the preamble of this Agreement.

“Tedeschi Realty Contracts” shall mean,
collectively, the property management agreements in effect between any Seller
and Tedeschi Realty, pursuant to which Tedeschi Realty has been engaged to
manage such Seller’s Property.

“Tenant” shall mean any tenant under any
Lease.

“Tenant Estoppel Certificate” shall have
the meaning ascribed to such term in Section 3.1(i)
of this Agreement.

“Tenant Estoppel Requirement” shall have
the meaning ascribed to such term in Section 3.1(i)
of this Agreement.

“Tenant Files” shall mean, collectively,
with respect to each Lease in effect as of the Closing Date, copies of all the
following matters that the Sellers have in their files or which are otherwise
within Sellers’ reasonable control: (i)
bills relating to costs included in any so-called common area maintenance
charges passed through to any Tenant for the applicable Lease Year in which the
Closing occurs and any prior Lease Years with respect to which the applicable
Tenant’s audit rights have not expired, (ii)
Lease Documents, (iii) Recognized
Subleases relating to any portion of the premises demised under such Lease and
any Nondisturbance Agreement relating to such Recognized Subleases, (iv) letters and other agreements
relating thereto and referenced herein or identified on any Exhibit hereto and (v) material correspondence relating
thereto.

“Tenant Sales Reports” shall mean,
collectively, the gross sales reports provided to the Sellers by the Tenants under
the Percentage Rent Leases for the two (2) Percentage Rent Years immediately
preceding the Closing Percentage Rent Year.

“Tenants’ Costs” shall have the meaning
ascribed to such term in Section 8.4(g)
of this Agreement and are identified on EXHIBIT L
attached hereto.

 29
 

“Title Commitments” shall mean,
collectively, the commitments for title insurance issued by the Title Company
pertaining to the Land (excluding the Hanover Land) and the Hanover Condominium
Units which are identified on EXHIBIT M
attached hereto.

“Title Company” shall mean First
American.

“Title 5 Reports” shall mean,
collectively, the Title 5 Official Inspection Forms listed on EXHIBIT N attached hereto.

“Title 5 Regulations” shall have the
meaning ascribed to such term in Section 3.4(f)
of this Agreement.

“Title Policy” shall have the meaning
ascribed to such term in Section 3.1(k)
of this Agreement.

“Title/Survey Objection Notice” shall
have the meaning ascribed to such term in Section 3.4(j)
of this Agreement.

“Umbrella
Guarantor” shall mean, subject to the provisions of Section 3.4(n) of this Agreement,
Tedeschi Realty.

“Umbrella Guaranty” shall mean a
guaranty, substantially in the form attached hereto as EXHIBIT LL, to be executed and
delivered by the Umbrella Guarantor at the Closing.

“United States Person” shall mean: (i) any Person regardless of location, that
is a resident of the United States; (ii)
any Person physically located within the United States; (iii) any Person organized under the
laws of the United States or of any state, territory, possession, or district
thereof; and (iv) any Person,
wheresoever organized or doing business, which is owned or controlled by those
specified in the foregoing clauses (i) or (iii).

“Unresolved Material Matters” shall have
the meaning ascribed to such term in Section 3.5(b)
of this Agreement.

“Walmart Estoppel Certificates” shall
mean estoppel certificates, substantially in the form attached hereto as EXHIBIT OO (relating to the
Wareham Property and the Weymouth Property), dated no earlier than the
Effective Date, that reveal no material outstanding obligation of or default by
Tedeschi-Darman or T-Delta.

“Wareham Land” shall mean the land more
particularly described on EXHIBIT B-23
attached hereto.

“Wareham Leases” shall mean,
collectively, the Leases affecting all or any portion of the Wareham Land as
more particularly described on EXHIBIT C-23
attached hereto.

“Wareham Property” shall mean,
collectively, the Wareham Land and the Improvements located thereon.

“Weymouth Land” shall mean the land more
particularly described on EXHIBIT B-24
attached hereto.

 30
 

“Weymouth Leases” shall mean,
collectively, the Leases affecting all or any portion of the Weymouth Land as
more particularly described on EXHIBIT C-24
attached hereto.

“Weymouth Property” shall mean,
collectively, the Weymouth Land and the Improvements located thereon.

“Whitman Associates Beneficiary” shall
mean Whitman Associates, a Massachusetts general partnership.

“Whitman Associates Trust” shall have
the meaning ascribed to such term in the preamble of this Agreement.

“Whitman (Food Master Plaza) Land” shall
mean the land more particularly described on EXHIBIT B-25 attached hereto.

“Whitman (Food Master Plaza) Leases”
shall mean, collectively, the Leases affecting all or any portion of the Whitman
(Food Master Plaza) Land as more particularly described on EXHIBIT C-25 attached
hereto.

“Whitman (Food Master Plaza) Property”
shall mean, collectively, the Whitman (Food Master Plaza) Land and the
Improvements located thereon.

“Whitman Stop & Shop Lease” shall
mean that certain Master Lease, dated October 29, 2003, between
Bedford-School, as landlord, and Stop & Shop, as tenant.

“Whitman (Stop & Shop Plaza) Land”
shall mean the land more particularly described on EXHIBIT B-26 attached
hereto.

“Whitman (Stop & Shop Plaza) Leases”
shall mean, collectively, the Leases affecting all or any portion of the
Whitman (Stop & Shop Plaza) Land as more particularly described on EXHIBIT C-26 attached
hereto.

“Whitman (Stop & Shop Plaza) Property”
shall mean, collectively, the Whitman (Stop & Shop Plaza) Land and the
Improvements located thereon.

“Uncollected Major Tenant Rents” shall
have the meaning ascribed to such term in Section 8.4(c)(vii) of this
Agreement.

“Vacant Space” shall  have the meaning ascribed to such term in Section 8.4(c)(iv) of this
Agreement.

ARTICLE 2

Agreement; Purchase Price

Section 2.1.           Agreement to Sell and Purchase.  Subject to the terms and provisions hereof,
each Seller agrees to sell, assign or otherwise transfer to the Purchaser all of
such Seller’s right, title and interest in the Assets, and the Purchaser agrees
to purchase, or cause its nominees or designees to purchase, the Assets from
the Sellers; provided, however, that, at the time of the 

 31
 

consummation of the
Closing, (a) the Sellers shall
have fulfilled all of their obligations hereunder in all material respects and
all conditions precedent to the Sellers’ obligations to consummate the Closing
set forth in Section 3.2
of this Agreement shall have been satisfied in all material respects and (b) the Purchaser shall have fulfilled all
of its obligations hereunder in all material respects and all of the conditions
precedent to the Purchaser’s obligation to consummate the Closing set forth in Section 3.1 of this Agreement
shall have been satisfied in all material respects (the matters referred to in
the foregoing clauses (a) and (b) are collectively referred to herein as the “Closing Conditions”).

Section
2.2.           Purchase Price.  In consideration of the sale, assignment or
transfer by the Sellers of the Assets to the Purchaser, the Purchaser agrees to
pay to the Sellers, at the time and in the manner set forth in this Agreement,
the aggregate amount of THREE HUNDRED NINETY
MILLION DOLLARS ($390,000,000) (as adjusted pursuant to the terms of
this Agreement, if at all,  the “Purchase Price”).  Subject to the adjustments and apportionments
as hereinafter expressly set forth, and subject to the terms and conditions of
this Agreement (a) on or
before the Closing Date, the Purchaser shall deposit with the Escrow Agent an
amount equal to (i) the
Purchase Price minus  (ii) an
amount equal to the sum of (x) the
Aggregate Outstanding Assumed Indebtedness plus  (y) the Deposit and (b) on the Closing Date, the Escrow
Agent shall deliver to the Sellers the Deposit and the funds so deposited by
the Purchaser pursuant to the foregoing clause (a); in each instance, by wire
transfer of immediately available federal funds in accordance with the Escrow
Agent’s or the Sellers’ directions, as applicable.  The Purchase Price shall be allocated among
the Assets as set forth on the Allocated Value and Deposit Schedule.

Section
2.3.           Deposit.

(a)           Deposit.
 Prior to 5:00
P.M. East Coast time on the third (3rd)
Business Day after the Effective Date, the Purchaser shall deposit with the
Escrow Agent a deposit in the amount of TEN MILLION DOLLARS
($10,000,000) to be held in escrow by
the Escrow Agent pursuant to the terms of this Agreement (such deposit and the
interest earned thereon shall be referred to as the “Deposit”).  The Deposit shall be invested as directed by
the Purchaser.  As of the consummation of
the Closing, the Deposit shall be applied against the Purchase Price on the
Closing Date.  If the transaction
contemplated hereby is not consummated on the Closing Date, the Deposit shall
be treated in the manner hereinafter provided in this Agreement.

(b)           Escrow
Agent’s Duties. 
The duties of the Escrow Agent are determined solely by this Agreement
and are purely ministerial in nature.

The Escrow Agent is acting as a stakeholder only with
respect to the Purchase Escrow Funds delivered to it in accordance with this
Agreement.  In the event of any
disagreement between the Purchaser and the Sellers resulting in any adverse
claims and demands being made with respect to the Purchase Escrow Funds, the
Escrow Agent shall refuse to comply with any such claims or demands so long as
such disagreement may continue; and in so refusing the Escrow Agent shall make
no delivery or other disposition of the Purchase Escrow Funds then held by it
under the terms of this Agreement, and in so doing the Escrow Agent shall not
become liable to anyone for such refusal; and the Escrow Agent shall continue
to refrain from acting until (i)
the rights of the adverse claimants shall have been finally adjudicated in a
court of competent jurisdiction of the monies involved herein or affected
hereby, or (ii) the Escrow Agent
receives a written authorization signed by the Purchaser and the Sellers
directing the disposition of the Purchase Escrow Funds.  The Escrow Agent shall not disburse any of
the Purchase Escrow 

 32
 

Funds held by it under
this Agreement unless in accordance with either a joint written instruction of
the Purchaser and the Sellers or, subject to the provisions hereinafter set
forth in this Section 2.3(b),
an Escrow Demand.  Upon receipt by the
Escrow Agent from the Purchaser or the Sellers (the “Notifying Party”) of any notice or request (the “Escrow Demand”) to perform any act or
disburse any portion of the Purchase Escrow Funds held by the Escrow Agent
under the terms of this Agreement, the Escrow Agent shall promptly (but in no
event more than one (1) Business Day after the Escrow Agent’s receipt of an
Escrow Demand) give written notice to the other party (the “Notified Party”).  In the event that within three (3) Business
Days after the giving of such notice, the Escrow Agent does not receive any
written objection to the Escrow Demand from the Notified Party, the Escrow
Agent shall comply with the Escrow Demand made by the Notifying Party.  In the event that the Escrow Agent does
receive written objection from the Notified Party in a timely manner, the
Escrow Agent shall take no further action until the dispute between the parties
has been resolved as described in clauses (i) or (ii) above.  Moreover, the Escrow Agent may bring an
appropriate proceeding for leave to deposit the Purchase Escrow Funds with a
court of competent jurisdiction pending a determination of the rights of the
parties.  At any time after a dispute
arises between the parties, the Escrow Agent may interplead all interested
parties in an appropriate action and may deposit the Purchase Escrow Funds with
the clerk of the court; thereupon the Escrow Agent will have no further
liability under this Agreement.  The
Escrow Agent may retain counsel or act as its own counsel in any action under
this Agreement.  The non-prevailing party
in any such action shall reimburse the Escrow Agent for all costs and expenses
incurred by it in connection with any court proceeding under this Agreement,
including, without limitation, reasonable attorney’s fees and
disbursements.  Notwithstanding the
foregoing and, without limiting the provisions hereof as such provisions
pertain to the rights and protections afforded to the Escrow Agent and the
obligations of the Sellers and the Purchaser to the Escrow Agent, as between
the Sellers and the Purchaser, in the event of any dispute hereunder involving
the Purchase Escrow Funds, the Sellers and the Purchaser agree that the
prevailing party shall be entitled to be reimbursed for any contribution made
by such party toward payment of costs and expenses incurred by the Escrow
Agent.

The Escrow Agent
is not liable for any mistake of fact or error of judgment, or for any acts or
omissions, unless (a) caused by
its willful misconduct or gross negligence or (b)
the same are in breach or violation of an express obligation binding upon the
Escrow Agent under this Agreement or any supplemental instructions or
agreements accepted in writing by the Escrow Agent.  The parties to this Agreement each release
the Escrow Agent from any act done or omitted to be done by the Escrow Agent in
good faith in performance of its obligations under this Agreement.  The Escrow Agent is entitled to rely on any
document or signature believed by it to be genuine and may assume that any
Person purporting to give any writing or instruction in connection with this
Agreement is duly authorized to do so by the party on whose behalf such writing
or instruction is given.

The Purchaser and
the Sellers jointly and severally indemnify and protect the Escrow Agent from
and hold it harmless against any loss, liability, or expense incurred without
willful misconduct, gross negligence or breach of this Agreement, arising out
of its duties under this Agreement as well as the costs and expenses of
defending against any claim or liability arising under this Agreement except as
expressly excluded herein.

After delivering all Purchase Escrow Funds to the
appropriate party or parties in accordance with the terms hereof and performing
all other actions and duties required of it in

 33
 

accordance with this
Agreement, the Escrow Agent will have no further liability under this
Agreement.

The Sellers and
the Purchaser agree to execute and deliver to the Escrow Agent a W-9 form on or
before the Closing certifying as to their respective federal tax identification
numbers.

ARTICLE 3

Conditions Precedent; Activities
Prior to Closing and Other Covenants

Section
3.1.           Conditions Precedent to
the Purchaser’s Obligation to Consummate the Transaction.  In addition to any other condition precedent
to the Purchaser’s obligation to consummate the transaction contemplated by
this Agreement as may be expressly set forth elsewhere herein, and subject to
the provisions of Section 10.1
and Section 10.3, the
Purchaser’s obligation to consummate the transaction contemplated under this
Agreement is subject to the timely satisfaction in all material respects of the
conditions set forth in this Section 3.1
on or before the Closing Date (provided, that, the Purchaser (i) may waive, in writing, any such
condition and (ii) shall be deemed
to have waived the satisfaction of any such condition, if the Purchaser has
actual knowledge or is deemed to know that any such condition has not been
satisfied at or prior to the Closing and the Purchaser consummates the Closing
despite the failure of such condition to be satisfied).

(a)           The
Sellers shall have delivered all of the items set forth in Section
8.2 hereof.

(b)           Subject
to Section 3.4(b) through Section 3.4(d), Article 6, Section 10.2 and Section 10.3 hereof, on the
Closing Date, good and clear, record and marketable fee title to the Properties
shall be conveyed to the Purchaser subject only to the Permitted Exceptions.

(c)           Subject
to Section 3.4(b) through Section 3.4(d), Article 6, Section 10.2 and Section 10.3 hereof, on the
Closing Date, the landlord’s interest in the Lease Documents, free and clear of
all Encumbrances other than the Permitted Exceptions, shall be assigned to the
Purchaser.

(d)           Subject
to Section 3.4(b) through Section 3.4(d), Section 10.2 and Section 10.3 hereof, on the
Closing Date, the Sellers’ interest in all of the other Assets shall be
conveyed, assigned or otherwise transferred to the Purchaser, free and clear of
all Encumbrances other than the Permitted Exceptions.

(e)           On
the Closing Date, the Purchaser shall have received the Sellers’ Closing
Certification and, subject to Section 3.4(l),
the Sellers’ Closing Certification shall not disclose (i)
any matter that would have a material adverse effect on the Assets or (ii) any material breach by the Sellers of their obligations
hereunder.

(f)            On
the Closing Date, there shall then be no material breach by the Sellers of
their obligations hereunder.

(g)           There shall
be no injunction, writ, temporary restraining order or any order of any nature
issued by any Governmental Authority directing that the transaction
contemplated by this 

 34
 

Agreement not be consummated which has not been revoked, cancelled or
rescinded prior to the Closing.

(h)           On
the Closing Date, there shall be no Bankruptcy Proceedings pending against any
Seller or any Major Tenant.

(i)            Subject to Section 10.3 hereof, the
Sellers shall have delivered to the Purchaser estoppel certificates dated no
earlier than the Effective Date (collectively, “Tenant
Estoppel Certificates”) from (i)
the Material Tenants and (ii) a
sufficient number of other Tenants such that, with respect to each Property,
Tenant Estoppel Certificates shall have been delivered to Purchaser with
respect to not less than seventy percent (70%) of the leased gross leaseable
area of each Property covered by Leases, other than the Material Leases, in
effect as of the Closing Date determined on a Property by Property basis (the
foregoing condition to Closing shall be referred to herein as the “Tenant Estoppel Requirement”).  Except as otherwise provided herein, each
Tenant Estoppel Certificate shall be substantially in the form attached hereto
as EXHIBIT O; provided, however,
that notwithstanding the foregoing, any Tenant Estoppel Certificate shall be
acceptable (x) if it is in the form
prescribed in the applicable Lease or other operative Lease Document or (y) in those instances where the applicable Tenant is a
national tenant or is a regionally recognized chain, if it is in the standard
form generally used by such Tenant.  In
addition, those provisions of the applicable Tenant Estoppel Certificates
respecting defaults, defenses, disputes, claims, offsets, abatements,
concessions and recaptures against rent and other charges may be limited to the
knowledge of the applicable Tenant.  The
Sellers agree to include the matters described on EXHIBIT NN
attached hereto (collectively, the “Additional Requested
Tenant Estoppel Matters”) in the applicable Tenant Estoppel
Certificates furnished to the applicable Tenants identified on such EXHIBIT NN; provided, however,
that it shall not be a condition of the Purchaser’s obligation to consummate
the Closing that the Tenant Estoppel Certificates executed and delivered by
such Tenants contain the Additional Requested Estoppel Matters.  The Sellers’ sole obligation hereunder with
respect to Tenant Estoppel Certificates shall be to utilize commercially
reasonable efforts to obtain Tenant Estoppel Certificates from each Tenant
(and, as used in this Agreement, commercially reasonable efforts shall not
include any obligation to institute legal proceedings or to expend any
monies).  Notwithstanding anything to the
contrary herein, in the event that the Sellers are unable to obtain a Tenant
Estoppel Certificate from any particular Tenant under any Lease (each, a “Designated Lease”), the Sellers may
(but shall not be obligated to), at any time prior to the Closing: (1) deliver (for the Designated Leases, other than any
Material Leases, covering an amount up to not more than ten percent (10%) of
the leased gross leaseable area of each Property covered by Leases in effect as
of the Closing Date determined on a Property by Property basis) to the
Purchaser on the Closing Date a certificate (each, a “Landlord
Estoppel Certificate”) in substantially the form attached hereto
as EXHIBIT P executed by the
applicable Seller that owns the applicable Property, and in such event, the
Sellers shall be deemed to have delivered a Tenant Estoppel Certificate with
respect to such Tenant for purposes of satisfying the Tenant Estoppel
Requirement; or (2) give written notice to the
Purchaser stating that, after taking into account all Landlord Estoppel
Certificates delivered to the Purchaser, the Sellers have not obtained the
requisite Tenant Estoppel Certificates to satisfy the Tenant Estoppel
Requirement (including with such notice, a copy of the certificates, if any,
that the Sellers have obtained from any applicable Tenants), in which event,
the Purchaser may (A) require the
Sellers to deliver Landlord Estoppel Certificates for any or all of the
Designated Leases (including, without limitation, the Material Leases),
executed by the applicable Sellers that own the Properties subject to such
Designated Leases or 

 35
 

(B) terminate this Agreement by written
notice to the Sellers and the Escrow Agent. 
If the Purchaser elects to exercise its right to terminate this
Agreement in accordance with the provisions of this Section 3.1(i),
this Agreement shall terminate upon the Sellers’ receipt of such termination
notice, the Deposit shall be promptly returned to the Purchaser by the Escrow
Agent and the parties hereto shall have no further rights, liabilities or
obligations under this Agreement, except such rights, liabilities and obligations
that expressly survive the termination of this Agreement.  If, however, the Purchaser fails to exercise
its right to terminate this Agreement in accordance with the terms hereof, the
Sellers shall be deemed to have satisfied the Tenant Estoppel Requirement.  Any Landlord Estoppel Certificate shall be
subject to the provisions of Section 11.4.  In addition, the applicable Seller shall be
released from any liability with respect to any Landlord Estoppel Certificate
that it executed upon the delivery to the Purchaser of a Tenant Estoppel
Certificate from the Tenant for which such Seller has delivered such Landlord
Estoppel Certificate (but only to the extent such Tenant Estoppel Certificate (I) is consistent with such Landlord Estoppel Certificate
and (II) is delivered to the Purchaser no
later than sixty (60) days following the Closing Date).  Notwithstanding the foregoing, but subject to
the provisions of Section 3.4(l),
no Tenant Estoppel Certificate nor any Landlord Estoppel Certificate delivered
by the Sellers shall be deemed to satisfy the Tenant Estoppel Requirement if it
reflects any materially adverse state of facts or circumstance that is
inconsistent with or not reflected in the information set forth in this
Agreement (including, without limitation, upon the Rent Roll attached hereto as
EXHIBIT BB or any of the other
Exhibits hereto); it being acknowledged and agreed that any Tenant Estoppel
Certificate or Landlord Estoppel Certificate that reflects the occurrence of
any event or change in the state of facts first arising after the date hereof
and prior to the Closing shall be acceptable (without limiting any other
conditions precedent to the Purchaser’s obligation to consummate the Closing,
including, without limitation, the conditions to closing set forth in Section 3.1(n)) provided, that such event or
change in the state of facts was not caused by the Sellers in breach of any of
its obligations hereunder.  The Sellers
will promptly deliver to the Purchaser the Tenant Estoppel Certificates when and
as received (and in any event within two (2) Business Days after
received).  In recognition of the
processing time that will be needed by the Purchaser to analyze each Tenant
Estoppel Certificate, the parties agree that, in the event that eleven (11) or more
Tenant Estoppel Certificates are delivered to the Purchaser after the date that
is three (3) Business Days prior to the Closing, then, in such event,
the originally scheduled Closing Date shall be automatically extended to the
date that is three (3) Business Days following the date of the delivery of the
last Tenant Estoppel Certificate required to satisfy the Tenant Estoppel
Requirement; provided, however, that at Purchaser’s election,
Purchaser may elect to waive the extension of the Closing Date and retain the
originally scheduled Closing Date by written notice to Seller no later than one
(1) Business Day prior to the originally scheduled Closing Date.

(j)            Subject
to the provisions of Section 3.4(b)
through Section 3.4(d) and Section 10.2 hereof, (i) the Sellers shall have received the Consents and
delivered copies thereof to the Purchaser and (ii) the
Purchaser shall have received all of the applicable Financing Assignment and
Assumption Documents, executed by Hancock and the applicable Sellers.

(k)           Subject to
the Purchaser providing all documents and payments required to be delivered or
paid by the Purchaser in order for the Title Company to issue the Title
Policies, the Title Company shall be prepared and irrevocably and
unconditionally committed to issue to the Purchaser, pursuant to and in
accordance with the Title Commitments and the pro forma  endorsements
described on  EXHIBIT PP (and
resolving each of the Identified Title/Survey 

 36
 

Issues in the manner set forth on EXHIBIT PP), a 2006 ALTA form
of extended coverage owner’s policy of title insurance, with an effective date
not earlier than the Closing Date (with appropriate gap protection through the
applicable dates of recordation of the Deeds), insuring good, marketable,
insurable title to each Property in the Purchaser or its assignee in the amount
of the applicable Allocated Value, subject only to the Permitted Exceptions
(each, a “Title Policy”), with (i) such co-insurance or reinsurance (together with
agreements in a form and content satisfactory to the Purchaser providing the
Purchaser with the right of “direct access” against the reinsurance) as the
Purchaser determines in its reasonable discretion, (ii)
so-called Same Land/Survey endorsements referencing the Purchaser’s Surveys
(provided, that, the Purchaser delivers the Purchaser’s Surveys, certified to
the Title Company, to the Title Company by July 20, 2007) and (iii) with respect to the Title Policy relating to the
Hanover Property, to the extent that the Hanover Work has been commenced, with
the Additional Hanover Easement being insured as an appurtenant Encumbrance.

(l)            No
Governmental Authority shall have issued any notice alleging any violation of
any Legal Requirement, in any material respect, by any Property (specifically,
excluding, however, any notices that may have been issued alleging any
violation of any Legal Requirement by any Tenant in connection with the
operation of its business) which has not been corrected to the satisfaction of
the issuer of the notice.

(m)          The
Tedeschi Realty Contracts shall have been terminated.

(n)           No
more than one Major Lease shall have been terminated and the Major Tenants
shall not have vacated, abandoned or ceased operating (or otherwise “gone dark”
in) the premises demised under two (2) or more of the Major Leases.

(o)           On
the Closing Date, except as otherwise expressly provided herein with respect to
the Orleans Property, none of the Primary Properties shall have been rejected
as a consequence of any casualty or condemnation pursuant to and in accordance
with the terms of Article 6
or treated as a Rejected Property pursuant to and in accordance with the terms
of Section 10.3; provided, however,
that, notwithstanding the foregoing, the Orleans Property may be
rejected pursuant to and in accordance with the terms of Section 3.4(s).

(p)           The
title and survey objections set forth on EXHIBIT PP
(collectively, the “Identified Title/Survey
Issues”) have been resolved in the manner set forth on EXHIBIT PP.

(q)           On
or prior to the Closing Date, in accordance with the provisions of Section 3.4(o), Meriden Realty
shall have delivered (or caused the Prior Meriden Owner or Stop & Shop to
deliver) to the Escrow Agent, for filing with the Connecticut DEP all forms
required under the Connecticut Transfer Act to be filed in connection with the
conveyance of the Meriden Property.

(r)           On
or prior to the Closing Date, the Sellers shall have provided to the Purchaser
and the Title Company evidence that pending Land Court Confirmation Case No.
35418 has been dismissed.

Section 3.2.           Conditions Precedent to the Sellers’ Obligations to
Consummate the Transaction.  In addition to any other condition precedent
to the Sellers’ obligation to consummate the transaction contemplated by this
Agreement as may be expressly set forth 

 37
 

elsewhere herein, the
Sellers’ obligation to consummate the transaction contemplated under this
Agreement is expressly subject to the timely fulfillment in all material
respects of the conditions set forth in this Section 3.2 on or before the Closing Date (provided,
that, the Sellers (i) may
waive, in writing, any such condition and (ii)
shall be deemed to have waived the satisfaction of any such condition, if the
Sellers have actual knowledge or are deemed to know that any such condition has
not been satisfied at or prior to the Closing and the Sellers consummated the
Closing despite the failure of such condition to be satisfied).

(a)           The
Purchaser shall have delivered to the Escrow Agent all of those items set forth
in Section 8.3 hereof.

(b)           Delivery
of the Purchase Price to the Escrow Agent, subject to the adjustments and
apportionments as hereinafter expressly set forth.

(c)           There
shall be no injunction, writ, temporary restraining order or any order of any
nature issued by any Governmental Authority directing that the transaction
contemplated by this Agreement not be consummated which has not been revoked,
cancelled or rescinded prior to the Closing.

(d)           The
Seller shall have received the Purchaser’s Closing Certification and the
Purchaser’s Closing Certification shall not disclose any matter that would have
a material adverse effect on the Purchaser.

(e)           To
the extent applicable, the Purchaser shall have provided the Substitute Orleans
Security to the Massachusetts DEP and arrangements satisfactory to Skaket Associates
Trust for the return of the Orleans Security.

(f)            Subject
to the provisions of Section 3.4(b)
through Section 3.4(d), and Section 10.2 hereof, the
Sellers shall have received the Consents and all of the applicable Financing
Assignment and Assumption Documents, executed by Hancock and the Purchaser.

Section
3.3.           Sellers’ Activities
Prior to Closing. 
From the Effective Date until the consummation of the Closing or any
earlier termination of this Agreement, the Sellers:

(a)           shall not,
nor cause or permit any of the Sellers’ agents (including, without limitation,
any leasing agent or management company) to (i)
enter into any new Lease Document, Financing Document, Nondisturbance
Agreement, Permit or contract, agreement, commitment or obligation binding upon
or relating to any Property which would be binding upon the Purchaser upon its
acquisition of the applicable Property, (ii) modify
or voluntarily terminate or consent to the termination of any existing Lease
Document, Financing Document, Nondisturbance Agreement, Contract or Permit or
modify the Harwich Escrow Agreement, (iii) consent
to any new sublease or any amendment to any Recognized Sublease or (iv) grant any consent or approval under the Harwich Escrow
Agreement or any existing Lease Document, Nondisturbance Agreement, Contract or
Permit nor waive any right or remedy thereunder; in each case, without the
Purchaser’s prior written approval, which approval may be withheld in the
Purchaser’s sole discretion, provided, however, that to the
extent that any Seller is contractually obligated (x)
to provide or enter into such consent, approval or amendment, then such Seller
may do so upon prior notice to the Purchaser or (y) to
apply a standard of commercial reasonableness 

 38
 

with respect to any requested consent, approval or amendment, then,
the Purchaser’s approval of the same may not be unreasonably withheld, delayed
or conditioned;

(b)           without
limiting the provisions of Section 3.3(h)
and Section 3.3(i), shall give
notice to the Purchaser, as soon as practical, but in no event more than three
(3) Business Days after learning of (i) any
monetary or other material default under any of the Lease Documents or
Contracts first arising after the Effective Date or first becoming known to the
Sellers after the Effective Date, without any requirement upon the Sellers to
make any investigation or inquiry as to the existence of any such default and (ii) any notice of default hereafter received by any Seller
under any of the Lease Documents, the Financing Documents, the Contracts, the
Permitted Exceptions and/or the Permits and, in each instance, except as may be
required by applicable Legal Requirements or in the event of an emergency (in
which case the Sellers shall nonetheless immediately notify the Purchaser), the
Sellers shall only take action with respect thereto with the Purchaser’s prior
written approval, which approval shall not be unreasonably withheld, delayed or
conditioned;

(c)           shall
not remove any Personal Property from any Property except in the ordinary
course of business or unless the same is replaced by tangible personal property
of equal or greater utility and value;

(d)           shall
comply, in all material respects, with all of their respective obligations
under the Lease Documents and shall use commercially reasonable efforts to
cause any and all Mechanics’ Liens to be removed or otherwise bonded over by
the Tenants responsible for such Mechanics’ Liens (provided, however, that such
commercially reasonable efforts shall not require the Sellers to conduct any
title searches or commence any legal proceeding against any Tenant);

(e)           shall
not enter into or create any new exceptions to title, governmental commitments,
agreements regarding governmental impositions, or any other agreement which
would be binding upon the Purchaser or any of the Assets after the Closing,
without the Purchaser’s prior written approval, which approval may be withheld
in the Purchaser’s sole discretion;

(f)            shall
not grant or assume any Seller Mortgage and, subject to Section 8.4(k),
at or prior to the Closing Date shall pay off all Seller Mortgages;

(g)           shall
not convey, assign, hypothecate, transfer, dispose of or encumber, or, except (i) as otherwise required under any of the Lease Documents
or (ii) with respect to Permitted Transfers,
assent to the conveyance, assignment, transfer, hypothecation, disposal or
encumbrance of all or any portion of any legal or beneficial interest in the
any of the Assets, provided, however, notwithstanding the
foregoing, in no event shall any Seller transfer its fee interest in any Land
Parcel or its title to any other Asset;

(h)           without
limiting the provisions of Section 3.3(b)
and Section 3.3(i), shall send to
the Purchaser, within three (3) Business Days of receipt, a copy of any notice
hereafter received by any Seller that pertains to any of the Assets or the
transaction contemplated hereunder that notifies such Seller of any state of
facts or condition that could have a material adverse effect on any Property or
would make any of the Express Representations and Warranties untrue in any
material respect;

 39
 

(i)            without
limiting the provisions of Section 3.3(b)
and Section 3.3(h), shall provide
to the Purchaser, as soon as practical, a copy of any materials received after
the date hereof by any Seller from (i) any Tenant,
any Guarantor, any Governmental Authority and/or any insurance company (and/or
any of their respective counsel or agents) that pertains to any of the Assets,
any Tenant and/or any Guarantor, other than correspondence received in the ordinary
course of business which does not otherwise assert a default or discuss any
material issues concerning such Tenant or the Property occupied by such Tenant,
and/or (ii) any other Person asserting any
claim against or that could reasonably be expected to have a material adverse
effect on any Tenant, any Guarantor and/or any Asset;

(j)            without
limiting the provisions of Section 3.3(a),
within three (3) Business Days after (i) the
execution and delivery thereof or (ii) the
receipt thereof by any Seller, shall provide the Purchaser copies of (x) any Lease Document, Nondisturbance Agreement or Permit
or amendment thereof and (y) any
amendment of any Contract or the Harwich Escrow Agreement entered into after
the Effective Date;

(k)           shall
continue to act in the ordinary course of business with respect to the Assets
consistent with past practices with respect to the Assets;

(l)            shall
provide the Purchaser with written notice should any Seller elect to exercise
any right and/or remedy under any of the Lease Documents; provided, however,
that (i) in the event that any Seller
exercises any of its rights and remedies with respect to any of the Collateral,
such Collateral and/or the proceeds thereof may not be used to prepay any
obligations under the Lease Documents and may only be applied to obligations
that are then past due and outstanding under the Lease Documents (other than by
reason of any acceleration or similar remedy), and (ii)
in no event shall the Sellers exercise any remedies under any of the Material
Leases without the prior written consent of the Purchaser, which consent shall
not be unreasonably withheld, conditioned or delayed;

(m)          agree
that they will not discuss with any party (other than the Purchaser) the
potential sale of all or any of the Assets to the Purchaser; provided, however,
that the Sellers may discuss the transaction contemplated by this Agreement (i) with their members, managers, officers, employees, legal
counsel, accountants, lenders, consultants and/or any other parties to the
extent reasonably required in order to perform their obligations hereunder and (ii) to the extent required by law or court order;

(n)           shall
not, and will not permit any of the Seller Parties to accept, entertain or
negotiate offers, solicit interest or otherwise enter into discussions
involving the sale, financing, or disposition (directly or indirectly) of all
or any of the Properties;

(o)           shall not
make or permit to be made any alteration, improvement or addition to any
Property (other than as specifically required under any Lease) without the
Purchaser’s prior written consent, which consent shall not be unreasonably
withheld, conditioned or delayed provided, however, that if any
such alteration, improvement or addition is required by any Lease, (i) the Sellers shall provide the Purchaser with prompt
written notice of the alteration, improvement or addition that is required, (ii) in the event that the Sellers (in their reasonable
discretion) determine that such alteration, improvement or addition must be
commenced prior to the Closing Date in order to comply with the terms of the
applicable Lease, the Sellers shall commence such work and diligently prosecute
the same in a good and workmanlike manner and 

 40
 

such work shall be performed lien free and in accordance with all
applicable Legal Requirements (but the Sellers shall not be obligated to
complete the same prior to the Closing Date, unless required to do so in
accordance with the terms of the applicable Lease) and (iii) subject to the terms of the Lease, the Sellers shall
be responsible for the cost of (A) all such
work completed prior to the Closing Date and (B)
all such work for which the Purchaser is not entitled to reimbursement pursuant
to the Leases, and the Purchaser shall be responsible for the cost and the
completion of the remaining work for which the Purchaser is entitled to
reimbursement pursuant to the Leases;

(p)           shall
not commence or allow to be commenced on their behalf any action, suit or
proceeding with respect to all or any portion of the Property without the prior
written consent of the Purchaser, which consent shall not be unreasonably
withheld, conditioned or delayed; and

(q)           shall
maintain all casualty and liability insurance in place as of the Effective Date
with respect to the Properties in amounts and with deductibles substantially
the same as existing on the Effective Date.

In the event that
under the terms of this Section 3.3,
(x) the Sellers request the
Purchaser’s approval for any matter as required hereunder and the Purchaser
does not respond to the Sellers within three (3) Business Days after receipt of
a written request from any Seller, and, thereafter, the Purchaser does not
respond to the Sellers within two (2) Business Days after receipt of an
additional written request from any Seller delivered after the expiration of
the initial notice period, then, the Purchaser shall be deemed to have
given its approval to such request and (y) the
Purchaser’s approval is required for any matter, the Sellers may proceed
without the Purchaser’s approval in the event that the Sellers are required to
take any action under any applicable Legal Requirements or in the event of any
emergency; provided, that, the Sellers promptly advise the
Purchaser (as soon as is practical) of such circumstance and the actions
undertaken by the Sellers and the Purchaser is given the opportunity to contest
(or to direct the Sellers to contest), at the Purchaser’s expense, the need to
take action under the applicable Legal Requirements.

Section
3.4.           Other Covenants and
Agreements.

(a)           Due Diligence Materials.  Prior to the execution and delivery of this
Agreement, as well as from and after the Effective Date, in order to facilitate
the Purchaser’s due diligence review and the consummation of the transaction
contemplated hereunder, the Purchaser has had and shall have access (either, at
the Sellers’ option, by the Sellers delivering copies thereof to the Purchaser
or through an extranet site set up by Jones Lang) to copies of the following
materials (collectively, the “Due Diligence Materials”):
(i) the Lease Documents, (ii) the Title Commitments and the Encumbrances identified
therein, (iii) the Existing Surveys, (iv) the Environmental Reports, (v)
the Title 5 Reports, (vi) the
Nondisturbance Agreements, (vii) the
Financing Documents, (viii) the
Governmental Commitments, (ix) the
Contracts, (x) the Operating Statements
and (xi) the Tenant Sales Reports.  At the Purchaser’s sole cost and expense,
Jones Lang shall provide to the Purchaser, at the Purchaser’s request, computer
disks containing the Due Diligence Materials and the Sellers shall reasonably
cooperate to facilitate any requests made by the Purchaser.  In addition to the Due Diligence Materials
and without limiting the Sellers’ obligations under Section 3.3(b),
Section 3.3(h) and Section 3.3(i), the Sellers
shall use reasonable efforts to provide to the Purchaser (at the Purchaser’s
sole cost and expense) copies of any other materials pertaining to the Assets,
the Tenants and/or the 

 41
 

Guarantors that the Purchaser may reasonably request, it being
acknowledged and agreed that (x)
if any of such materials are generally available to the public (without the
necessity of filing a request under any freedom of information act), the
Purchaser will not request such materials from the Sellers, (y) in light of the fact that many of the Assets have been
owned by the Sellers for several years, it may not be reasonably possible for
the Sellers to be able to locate copies of such materials to provide the
Purchaser and (3) except for the Express
Representations and Warranties, the Sellers make no representation or warranty
concerning such materials. 
Notwithstanding anything in this Agreement to the contrary, in no event
shall the term “Due Diligence Materials” include any materials which were
posted on the extranet site after 5:00 p.m. on May 25, 2007, unless (A) at least one day prior to execution of this Agreement,
such materials were also delivered directly to the Purchaser or the Purchaser’s
counsel before or contemporaneously with such posting or (B)
such posting was accompanied by a Notice to the Purchaser delivered in
accordance with Section 12.8
hereof.

(b)           Harwich Loan.  At Tedeschi Realty’s sole cost and expense,
Tedeschi Realty shall use its best efforts to obtain all consents required
under the Harwich Loan Documents (collectively, the “Harwich
Consents”) to allow (i) Tedeschi
Realty to assign and the Purchaser to assume all of Tedeschi Realty’s
obligations under the Harwich Loan Documents, (ii) Tedeschi
Realty to be released from all liability under the Harwich Loan Documents
arising from and after the Closing Date, (iii) TCT to be
released from all liability under the Harwich Loan Guaranty and the Harwich
Indemnity arising from and after the Closing Date and (iv) the
execution and delivery of the Harwich Loan Assignment and Assumption
Documents.  Tedeschi Realty and the
Purchaser agree to expeditiously negotiate in good faith, and to execute and
deliver, such documents, instruments, certificates and agreements as may be
reasonably required pursuant to the terms of the Harwich Consents to effectuate
the assignment to, and assumption by, the Purchaser of all of the obligations
under the Harwich Loan Documents, provided, that the same are
mutually acceptable to Tedeschi Realty, Hancock and the Purchaser
(collectively, the “Harwich Loan Assignment
and Assumption Documents”); it being acknowledged and agreed
that (1) Tedeschi Realty’s rights to
approve the Harwich Loan Assignment and Assumption Documents shall extend only
to such provisions as would directly affect Tedeschi Realty and/or TCT, (2) certain terms of the Harwich Loan Documents may
need to be amended by the Harwich Loan Assignment and Assumption Documents as a
result of the identity and ownership structure of the new borrower under the
Harwich Loan Documents, (3) Hancock may
require that a substitute guarantor/indemnitor (determined by Hancock to be
credit-worthy) (A) execute and deliver a guaranty
in substantially the same form as the Harwich Loan Guaranty (or assume TCT’s
obligations under the Harwich Loan Guaranty) and (B)
join the Harwich Indemnity or assume TCT’s obligations thereunder (or execute a
new indemnity in substantially the same form as the Harwich Indemnity) and the
Purchaser shall use commercially reasonable efforts to cause any such
requirement to be satisfied and (4) the
Purchaser may not withhold its consent to the Harwich Loan Assignment and
Assumption Documents because Hancock has refused to amend any of the terms of
the Harwich Loan Documents (other than (aa)
such terms that must be amended because of the identity and ownership structure
of the new borrower under the Harwich Loan Documents and (bb) terms and conditions, reasonably
acceptable to the Purchaser, permitting the Purchaser, without Hancock’s consent
(but subject to such conditions as Hancock may reasonably require), to perform
a Liquidity Event).  Without limiting the
foregoing, the Harwich Loan Assignment and Assumption Documents shall include (i) a full release of Tedeschi Realty of all obligations
under the Harwich Loan Documents arising from and after the Closing Date and a
full release of TCT from all liability under the Harwich Loan 

 42
 

Guaranty and the Harwich Indemnity arising from and after the Closing
Date, (ii) customary
estoppel provisions from Hancock (in the standard form generally used by
Hancock) regarding (x) the
outstanding principal balance of the Harwich Loan, accrued interest thereunder
and any outstanding amounts due and payable thereunder and (y)
the Harwich Loan Documents and the status of any defaults, claims or waivers
thereunder, it being acknowledged and agreed that any such estoppel provisions
may be limited to Hancock’s knowledge (without investigation).  The Purchaser agrees to reasonably cooperate
with Tedeschi Realty in connection with Tedeschi Realty’s efforts to obtain the
Harwich Consents, which cooperation shall include, without limitation,
providing any financial information reasonably requested pertaining to the
Purchaser (or its Affiliates).  In the
event that the Purchaser assumes Tedeschi Realty’s obligations under the
Harwich Loan Documents, the Purchaser shall be entitled to a credit toward the
Purchase Price in the amount of the principal indebtedness and accrued interest
outstanding under the Harwich Loan Documents assumed by the Purchaser as of the
date of such assumption.  In the event
that, subject to the right of extension set forth in Section 10.2,
the Sellers are unable to obtain the Harwich Consents on or prior to the
Closing Date, the Purchaser and the Sellers shall remain obligated to perform
their other obligations hereunder (subject to the other terms and conditions of
this Agreement) and the Purchaser shall be entitled to a credit toward the
Purchase Price in an amount equal to the Allocated Value for the Harwich
Property.

(c)           New
Bedford Loan. 
At Cove Road’s sole cost and expense, Cove Road shall use its best
efforts to obtain all consents required under the New Bedford Loan Documents
(collectively, the “New Bedford Consents”)
to allow (i) Cove Road to assign and the
Purchaser to assume all of Cove Road’s obligations under the New Bedford Loan
Documents, (ii) Cove Road to be released from
all liability under the New Bedford Loan Documents arising from and after the
Closing Date, (iii) TCT to be released from all
liability under the New Bedford Loan Guaranty and the New Bedford Indemnity
arising from and after the Closing Date and (iv)
the execution and delivery of the New Bedford Loan Assignment and Assumption
Documents.  Cove Road and the Purchaser
agree to expeditiously negotiate in good faith, and to execute and deliver,
such documents, instruments, certificates and agreements as may be reasonably
required pursuant to the terms of the New Bedford Consents to effectuate the
assignment to, and assumption by, the Purchaser of all of the obligations under
the New Bedford Loan Documents, provided, that the same are
mutually acceptable to Cove Road and the Purchaser (collectively, the “New Bedford Loan Assignment and Assumption
Documents”); it being acknowledged and agreed that (1) Cove Road’s rights to approve the New Bedford Loan
Assignment and Assumption Documents shall extend only to such provisions as
would directly affect Cove Road and/or TCT, (2) certain
terms of the New Bedford Loan Documents may need to be amended by the New
Bedford Loan Assignment and Assumption Documents as a result of the identity
and ownership structure of the new  borrower
under the New Bedford Loan Documents, (3) in
order to obtain a release of TCT from the New Bedford Loan Documents, Hancock
may require that a substitute guarantor/indemnitor (determined by Hancock to be
credit-worthy) (A) execute and deliver a
guaranty in substantially the same form as the New Bedford Loan Guaranty (or
assume TCT’s obligations under the New Bedford Loan Guaranty) and (B) join the New Bedford Indemnity or assume TCT’s
obligations thereunder (or execute a new indemnity in substantially the same
form as the New Bedford Indemnity) and the Purchaser shall use commercially
reasonable efforts to cause any such requirement to be satisfied and (4) the Purchaser may not withhold its consent to the
New Bedford Loan Assignment and Assumption Documents because Hancock has
refused to amend any of the terms of the New Bedford Loan Documents (other than
(aa) such terms
that must be amended because of the identity and ownership structure of the new

 43
 

borrower under the New Bedford Loan Documents and (bb) terms and
conditions, reasonably acceptable to the Purchaser, permitting the Purchaser,
without Hancock’s consent (but subject to such conditions as Hancock may
reasonably require), to perform a Liquidity Event).  Without limiting the foregoing, the New
Bedford Loan Assignment and Assumption Documents shall include (i) a full release of Cove Road of all obligations under the
New Bedford Loan Documents arising from and after the Closing Date and a full
release of TCT from all liability under the New Bedford Loan Guaranty and the
New Bedford Indemnity arising from and after the Closing Date and (ii) customary estoppel provisions from Hancock (in the
standard form generally used by Hancock) regarding (x)
the outstanding principal balance of the New Bedford Loan, accrued interest
thereunder and any outstanding amounts due and payable thereunder and (y) the New Bedford Loan Documents and the status of any
defaults, claims or waivers thereunder, it being acknowledged and agreed that
any such estoppel provisions may be limited to Hancock’s knowledge (without
investigation).  The Purchaser agrees to
reasonably cooperate with Cove Road in connection with Cove Road’s efforts to
obtain the New Bedford Consents, which cooperation shall include, without
limitation, providing any financial information reasonably requested pertaining
to the Purchaser (or its Affiliates).  In
the event that the Purchaser assumes Cove Road’s obligations under the New
Bedford Loan Documents, the Purchaser shall be entitled to a credit toward the
Purchase Price in the amount of the principal indebtedness and accrued interest
outstanding under the New Bedford Loan Documents assumed by the Purchaser as of
the date of such assumption.  In the
event that, subject to the right of extension set forth in Section 10.2,
the Sellers are unable to obtain the New Bedford Consents on or prior to the
Closing Date, the Purchaser and the Sellers shall remain obligated to perform
their other obligations hereunder (subject to the other terms and conditions of
this Agreement) and the Purchaser shall be entitled to a credit toward the
Purchase Price in an amount equal to the Allocated Value for the New Bedford
Property.

(d)           Norwell Loan.  At Tedeschi-Norwell’s sole cost and expense,
Tedeschi-Norwell shall use its best efforts to obtain all consents required
under the Norwell Loan Documents (collectively, the “Norwell
Consents”) to allow (i)
Tedeschi-Norwell to assign and the Purchaser to assume all of Tedeschi-Norwell’s
obligations under the Norwell Loan Documents, (ii) Tedeschi-Norwell
to be released from all liability under the Norwell Loan Documents arising from
and after the Closing Date, (iii) TCT to be
released from all liability under the Norwell Loan Guaranty and the Norwell
Indemnity arising from and after the Closing Date, and (iv) the
execution and delivery of the Norwell Loan Assignment and Assumption
Documents.  Tedeschi-Norwell and the
Purchaser agree to expeditiously negotiate in good faith, and to execute and
deliver, such documents, instruments, certificates and agreements as may be
reasonably required pursuant to the terms of the Norwell Consents, provided,
that the same are mutually acceptable to Tedeschi-Norwell, Hancock and
the Purchaser (collectively, the “Norwell Loan Assignment
and Assumption Documents”) it being acknowledged and agreed that
(1) Tedeschi-Norwell’s rights to
approve the Norwell Loan Assignment and Assumption Documents shall extend only
to such provisions as would directly affect Tedeschi-Norwell and/or TCT, (2) certain terms of the Norwell Loan Documents may need to
be amended by the Norwell Loan Assignment and Assumption Documents as a result of
the identity and ownership structure of the new borrower under the Norwell Loan
Documents, (3) in order to obtain a release
of TCT from the Norwell Loan Documents, Hancock may require that a substitute
guarantor/indemnitor (determined by Hancock to be credit-worthy) (A) execute and deliver a guaranty in substantially the same
form as the Norwell Loan Guaranty (or assume TCT’s obligations under the
Norwell Loan Guaranty) and (B) join the
Norwell Indemnity or assume TCT’s obligations thereunder (or execute a new 

 44
 

indemnity in substantially the same form as the Norwell Indemnity) and
the Purchaser shall use commercially reasonable efforts to cause any such
requirement to be satisfied and (4)
the Purchaser may not withhold its consent to the Norwell Loan Assignment and
Assumption Documents because Hancock has refused to amend any of the terms of
the Norwell Loan Documents (other than (aa)
such terms that must be amended because of the identity and ownership structure
of the new borrower under the Norwell Loan Documents and (bb) terms and conditions, reasonably
acceptable to the Purchaser, permitting the Purchaser, without Hancock’s
consent (but subject to such conditions as Hancock may reasonably require), to
perform a Liquidity Event).  Without
limiting the foregoing, the Norwell Loan Assignment and Assumption Documents
shall include (i) a full release of
Tedeschi-Norwell of all obligations under the Norwell Loan Documents arising
from and after the Closing Date and a full release of TCT from all liability
under the Norwell Loan Guaranty and the Norwell Indemnity arising from and
after the Closing Date, and (ii) customary
estoppel provisions from Hancock (in the standard form generally used by
Hancock) regarding (x) the
outstanding principal balance of the Norwell Loan, accrued interest thereunder
and any outstanding amounts due and payable thereunder and (y)
the Norwell Loan Documents and the status of any defaults, claims or waivers
thereunder, it being acknowledged and agreed that any such estoppel provisions
may be limited to Hancock’s knowledge (without investigation).  The Purchaser agrees to reasonably cooperate
with Tedeschi-Norwell in connection with Tedeschi-Norwell’s efforts to obtain
the Norwell Consents, which cooperation shall include, without limitation,
providing any financial information reasonably requested pertaining to the
Purchaser (or its Affiliates).  In the
event that the Purchaser assumes Tedeschi-Norwell’s obligations under the
Norwell Loan Documents, the Purchaser shall be entitled to a credit toward the
Purchase Price in the amount of the principal indebtedness outstanding under
the Norwell Loan Documents assumed by the Purchaser as of the date of such
assumption.  In the event that, subject
to the right of extension set forth in Section 10.2,
the Sellers are unable to obtain the Norwell Consents on or prior to the
Closing Date, the Purchaser and the Sellers shall remain obligated to perform
their other obligations hereunder (subject to the other terms and conditions of
this Agreement) and the Purchaser shall be entitled to a credit toward the
Purchase Price in an amount equal to the Allocated Value for the Norwell
Property.

(e)           Orleans Property.  On or before June 25, 2007, Skaket Associates
Trust and the Purchaser shall enter into an agreement, in the form attached
hereto as EXHIBIT Q (the “Orleans Groundwater Discharge Permit Assignment”),
providing for, effective as of the consummation of the Closing in accordance
with the terms hereof, the transfer of the Orleans Groundwater Discharge Permit
to the Purchaser and the assumption by the Purchaser of all of the obligations
thereunder arising from and after the Closing Date.  Within one (1) Business Day after the
execution and delivery of the Orleans Groundwater Discharge Permit Assignment, the
Sellers shall send written notice to the Massachusetts DEP of the proposed
transfer of the Orleans Property to the Purchaser pursuant to this Agreement,
along with an original Orleans Groundwater Discharge Permit Assignment.  To the extent that, prior to the Closing
Date, Skaket Associates Trust is required by the Massachusetts DEP to provide
any of the financial security referred to in Section C, Paragraph 4 of the
Orleans Groundwater Discharge Permit, whether in the form of one or more
letters of credit or escrow/reserve accounts, as a condition of the Sellers’
obligation to consummate the Closing, the Purchaser shall provide the
Massachusetts DEP with financial security(the “Orleans
Security”) in compliance with the Orleans Groundwater Discharge
Permit and acceptable to the Massachusetts DEP. 
As of the Effective Date, Sellers represent and warrant that the
Massachusetts DEP has not required the Orleans Security to be 

 45
 

posted.  Skaket Associates Trust
and the Purchaser agree to execute any documents reasonably required to
implement the foregoing.  Concurrently
with the issuance of the Orleans Final Certificate of Compliance, the CCC
required that the height of the lighting at the Orleans Property be changed and
requested that Skaket Associates Trust provide the Harwich/Orleans Escrow Agent
with TEN THOUSAND DOLLARS
($10,000) to assure that the lighting at the Orleans Property be
changed to comply with the CCC’s requirements relating to height and
illumination.  Skaket Associates Trust
shall, at its sole cost and expense, make any modifications to the lighting at
the Orleans Property required by the CCC to satisfy its current requirements
(the “Orleans Lighting Work”).  In the event that the Orleans Lighting Work
is not completed prior to the Closing Date, the Purchaser and Skaket Associates
Trust shall enter into an access agreement, in form and substance acceptable to
such parties, to permit Skaket Associates Trust such limited access to the
Orleans Property as may be necessary to perform the Orleans Lighting Work.  The foregoing obligation to perform the
Orleans Lighting Work and to enter into an access agreement relating thereto
shall survive the consummation of the Closing.

(f)            Septic
Systems. 
The Title 5 Reports indicate that an inspection of the subsurface sewage
disposal system servicing the Properties identified therein were conducted in
accordance with the provisions of Title 5 of the Massachusetts Environmental
Code, 310 CMR 15.000 et seq. (the “Title 5 Regulations”).  Except for the Title 5 Reports relating to
the Hanover Property and the Kingston Property, the Title 5 Reports certify
that the applicable systems pass, i.e., do not violate any of the failure
criteria in Section 15.303 of the Title 5 Regulations.  The Sellers or the Approved System Inspectors
that prepared the Title 5 Reports have (or shall, prior to the Closing Date),
submit copies of the Title 5 Official Inspection Forms to the Massachusetts DEP
or the Boards of Health for the municipalities where the Properties are
located, as required under the Title 5 Regulations.  The Title 5 Reports relate to each Property
that is serviced by a septic system subject to the Title 5 Regulations.

The Purchaser acknowledges that the Title 5 Report
relating to the Hanover Property revealed that the Hanover Property’s septic
system does not comply with the Title 5 Regulations.  Tedeschi Realty agrees to replace the Hanover
Property’s septic system at Tedeschi Realty’s sole cost and expense.  The work (the “Hanover Work”) to be performed by Tedeschi Realty to
replace the Hanover Property septic system (such new septic system shall be
referred to herein as the “Hanover Septic
System”) is shown on the plan described on EXHIBIT KK attached hereto (which
plan is subject to the review and approval of applicable Governmental
Authorities) and, includes, (i)
obtaining and recording an easement from the Adjacent Hanover Land Owner
running to the benefit of Hanover Unit Owners’ Association (the “Additional Hanover Easement”) to permit
the installation, presence and future repairs of a portion of the Hanover
Septic System under the Adjacent Hanover Land (including, without limitation,
access on and/or under the Adjacent Hanover Land to install and, in subsequent
years, repair the Hanover Septic System) and (ii)
the removal and disposal of the Hanover UST in compliance with all applicable
Legal Requirements (including, without limitation, the remediation, in
accordance with all applicable Legal Requirements of any soil contamination
from the Hanover UST that is discovered during the removal of Hanover
UST).  The Additional Hanover Easement
shall be subject to the prior approval of the Purchaser, which approval shall
not be unreasonably withheld, delayed or conditioned.  The Hanover Work shall be performed and
completed lien free, in a good and workmanlike manner, by contractors approved
by the Purchaser in writing and in advance (which approval shall not be
unreasonably withheld, delayed or conditioned), and in accordance with
applicable Legal Requirements.  Tedeschi
Realty shall use commercially 

 46
 

reasonable efforts to
complete the Hanover Work prior to the Closing; provided, however,
that, except as expressly provided below, the completion of the Hanover Work
shall not be a condition precedent to the consummation of the Closing.  For purposes of this Section 3.4(f), the installation of the
Hanover Septic System shall not be deemed to be “complete” or “completed” until
Tedeschi Realty has obtained and delivered to the Purchaser (x) a Certificate of Compliance pursuant to
310 CMR 15.021 and (y) a
warranty (or assignment of Tedeschi Realty’s warranty) from the contractors and
subcontractors performing the Hanover Work, providing that each such contractor
and subcontractor shall be responsible for the replacement or repair, without
charge, of all work done or furnished in accordance with its contract that
shall become defective within one (1) year (or such longer period as required
by the applicable governmental authorities) after the completion of the work
performed by such contractor or subcontractors.

Prior to the
Closing, Tedeschi Realty shall obtain and deliver to the Purchaser a
certification from an environmental consultant (in form and substance
reasonably acceptable to the Purchaser) that the removal and disposal of the
Hanover UST was performed in compliance with applicable Legal Requirements (the
“Hanover UST Removal Certification”).  In the event that no contamination (in excess
of reporting requirements under applicable Environmental Laws) from the Hanover
UST is discovered during the removal of the Hanover UST, the Hanover UST
Removal Certification shall contain a certification to that effect.  In the event that any contamination (in
excess of reporting requirements under applicable Environmental Laws) from the
Hanover UST is discovered during the removal of the Hanover UST, Tedeschi
Realty shall promptly notify the Purchaser of such situation and shall cause
its environmental consultant to provide a recommended plan of remediation,
including, without limitation, the estimated cost of remediation (the “Hanover UST Plan of Remediation”) for
review and approval by the Purchaser and the Purchaser’s environmental
consultant.  After the Hanover UST Plan
of Remediation has been finalized and approved by the Purchaser (1) an escrow account (the “Hanover UST Escrow”) shall be
established with the Escrow Agent and Tedeschi Realty shall deposit in the
Hanover UST Escrow an amount equal to one hundred fifty percent (150%) of the
estimated cost of completing the Hanover UST Plan of Remediation, (2) Tedeschi Realty shall, at its sole cost
and expense, engage an environmental consultant approved by the Purchaser (the “Hanover Consultant”) that shall perform
the Hanover UST Plan of Remediation in accordance with applicable Environmental
Law, and (3) amounts shall be
withdrawn from time to time from the Hanover UST Escrow to pay for the cost to
implement the Hanover UST Plan of Remediation. 
Upon completion of the Hanover UST Plan of Remediation, any excess amounts
remaining in the Hanover UST Escrow shall be refunded to Tedeschi Realty.  If the cost to complete the Hanover Plan of
Remediation exceeds the Hanover UST Escrow, Tedeschi Realty shall be liable for
such excess cost.  The Hanover UST Plan
of Remediation shall be deemed to have been completed when Tedeschi Realty and
the Purchaser have received a certification from the Hanover Consultant (in
form and substance reasonably acceptable to the Purchaser) that the Hanover UST
Plan of Remediation has been completed in accordance with applicable
Environmental Laws and no further Action is required under applicable
Environmental Laws.  The form of the
agreement necessary to establish and administer the Hanover UST Escrow shall be
subject to the reasonable approval of Tedeschi Realty and Purchaser.  In the event that the Hanover UST Plan of
Remediation is not completed prior to the consummation of the Closing, at the
Purchaser’s election,Tedeschi Realty shall assign to the Purchaser all of
Tedeschi Realty’s rights under the contract entered into with the Hanover
Consultant to perform the Hanover UST Plan of Remediation.  The foregoing provisions regarding completion
of the Hanover UST Plan of Remediation shall survive the consummation of the
Closing.

 47
 

The Purchaser also
acknowledges that the Title 5 Report relating to the Kingston Property revealed
that the Kingston Property’s septic system does not comply with the Title 5
Regulations.  Notwithstanding such
failure, subject to the satisfaction of the other terms and conditions of this
Agreement, the Purchaser shall accept the condition of the Kingston Property’s
septic system “AS-IS” and pay the full Purchase Price without deduction for
such failure.  As of the consummation of
the Closing, without limiting any other provisions set forth herein, the
Purchaser assumes all responsibility to comply with the Title 5
Regulations, including, without limitation, the obligation under the
Title 5 Regulations to upgrade or repair the septic system for the
Kingston Property.

The provisions of
this Section 3.4(f)
shall survive the Closing.

(g)           Harwich
Property. 
The Harwich DRI Decision requires, under certain circumstances (which
have yet to occur), that Tedeschi Realty install traffic control signals at the
intersection of Route 28 and Sisson Road (the “Harwich
Traffic Signals”). 
Tedeschi Realty represents that it has not received any separate notice
that such traffic control signals must now be installed.  To assure completion of such work, pursuant to
the terms of the Harwich Escrow Agreement, an amount equal to ONE HUNDRED EIGHTY-SIX THOUSAND DOLLARS ($186,000) was put
in escrow (such amount, with interest accruing thereon the “Harwich Escrow Funds”) to partially
or fully fund the installation of Harwich Traffic Signals.  The Harwich Escrow Agreement provides for the
release of (i) ninety-three percent (93%) of
the Harwich Escrow Funds to Tedeschi Realty seven (7) years after the issuance
of a final certificate of compliance from the CCC under the Harwich DRI
Decision in the event that a permit for the Harwich Traffic Signals has not
been issued by the Massachusetts Highway Department and (ii)
any remaining funds (which have not been used for transportation improvements
within the Town of Harwich) to the Cape Cod Regional Transit Authority or
similar transportation agency then in existence to support transportation
services in the Town of Harwich. 
Pursuant to the terms of the Harwich Shaw’s Lease, the Tenant thereunder
was required to make all payments required under the Harwich DRI Decision,
including, without limitation, the deposit of the Harwich Escrow Funds.  At the Closing, (x)
Tedeschi Realty shall assign all of its rights and obligations under the
Harwich Escrow Agreement to the Purchaser and the Purchaser shall assume all of
Tedeschi Realty’s obligations thereunder pursuant to an assignment and
assumption agreement in the form attached hereto as EXHIBIT R-1
(the “Harwich Escrow Assignment”)
and (y) a notice letter to the CCC and the
Harwich/Orleans Escrow Agent in the form attached hereto as EXHIBIT R-2  (the “Harwich Escrow Notice”) regarding
the transfer of the Harwich Property and the assignment of Tedeschi Realty’s
rights and obligations under the Harwich Escrow Agreement to the Purchaser
shall be executed.  There shall be no
adjustment made to the Purchase Price pertaining to the Harwich Escrow Funds.

(h)           Sandwich
Property. 
The waste water treatment system servicing the Sandwich Property is
subject to the Sandwich Permit.  The
terms of the Sandwich Permit require that if title to any portion of the
Sandwich Property is to be transferred, prior to executing a purchase and sale
agreement, the new owner shall be informed in writing of past water usage,
off-site pumping records of the system and the conditions of the Sandwich
Permit.  The Purchaser acknowledges that
it has received a copy of and reviewed the Sandwich Permit and that the
Sandwich Associates Trust has informed the Purchaser, in writing, of past water
usage, off-site pumping records of the system and the conditions of the
Sandwich Permit.

 48
 

(i)            Norwell
Property. 
The waste water treatment system servicing the Norwell Property is
subject to the Norwell Permit.  The terms
of the Norwell Permit require that if title to any portion of the Norwell
Property is to be transferred, prior to executing a purchase and sale
agreement, the new owner shall be provided a copy of the Norwell Permit.  The Purchaser acknowledges that it has
received a copy of and reviewed the Norwell Permit and that Tedeschi Norwell has
informed the Purchaser, in writing, of past water usage, off-site pumping
records of the system and the conditions of the Norwell Permit.

(j)            Title/Survey
Objections. 
At or prior to Closing, the Purchaser, from time to time, may notify the
Sellers in writing (each, a “Title/Survey Objection Notice”)
of any Objections.  The Purchaser shall
provide a Title/Survey Objection Notice to the Sellers promptly after acquiring
knowledge of any Objection (and in any event within three (3) Business Days
after acquiring such knowledge).  The Sellers shall have no obligation to bring any
action or proceeding or otherwise to incur any expense or liability (contingent
or otherwise) to remedy any Objection raised in any Title/Survey Objection
Notice; provided, however, that if any such Objection is a
Judgment Lien or Seller Mortgage, then, subject to the provisions of Section 8.4(k), the Sellers shall be obligated at or prior to
the Closing Date, to cause such Judgment Lien or Seller Mortgage to be
satisfied or to cause the Title Company to insure title to the Properties free
of such Judgment Lien or with affirmative insurance against the enforcement of
such Judgment Lien by delivery of an acceptable indemnity, which affirmative
insurance is acceptable to the Purchaser in the Purchaser’s reasonable
discretion.  Subject to the immediately
preceding sentence, within three (3) Business Days following receipt of any
Title/Survey Objection Notice, the Sellers shall notify the Purchaser, in
writing (the “Cure
Notice”), whether or not the
Sellers wish to cure or otherwise remedy the Objections.  Failure by the Sellers to deliver any such
Cure Notice to the Purchaser within such three (3) Business Day period shall be
deemed to be notice that the Sellers have elected not to cure or otherwise
remedy such Objections (other than any Judgment Liens).  If the Sellers elect or are deemed to have
elected not to cure or otherwise remedy the Objections (other than any Judgment
Liens), the Purchaser may elect either to (i) accept such title as
the Sellers are able to convey at Closing, without any reduction of the
Purchase Price or any credit or allowance on account thereof, (ii) exercise its right to reject the applicable
Property, if permitted by Section 10.3 (as it relates to the total number of Properties that Purchaser is
entitled to reject hereunder) or (iii) terminate this Agreement by written notice to
the Sellers and the Escrow Agent, whereupon the Deposit shall be promptly
returned to the Purchaser by the Escrow Agent and the parties hereto shall have
no further right, liabilities or obligations under this Agreement, except such
rights, liabilities and obligations that expressly survive the termination of
this Agreement.  Although the Sellers are
not obligated to do so, in the event that the Sellers provide the Purchaser
with a Cure Notice in accordance with the terms hereof stating that the Sellers
wish to cure or otherwise remedy any Objection, the Sellers shall have the
right to cure or remedy any Objection. 
The Sellers shall be deemed to have cured or remedied an Objection if (x) such Objection is removed, released or
terminated, of record or the Title Company is delivered the instruments that
are sufficient to remove, release or terminate such Objection of record or (y) the Title Company agrees (at no cost to the
Purchaser) to issue an endorsement affirmatively insuring against such items in
a form acceptable to the Purchaser, in its reasonable discretion.  For the purpose of remedying any Objection,
the Sellers shall have the right to one or more adjournments of the Closing for
an aggregate period not to exceed thirty (30) days.  If the Sellers fail to remedy the Objection
prior to the adjourned Closing, the Sellers shall be deemed to have elected not
to remedy the Objection and the Purchaser shall have the options described in
clauses (i) through (iii) above.

 49
 

(k)           Patriot
Act Notifications. 
The Sellers hereby covenant and agree that if the Sellers obtain
knowledge that any Seller or any of any Beneficial Owner becomes identified on
the Lists or is indicted, arraigned, or custodially detained on charges
involving money laundering or predicate crimes to money laundering, the Sellers
shall immediately notify the Purchaser in writing (the “Sellers’
OFAC Notification”), and in such event, the Purchaser shall have
the right to terminate this Agreement, upon written notice to the Sellers and
the Escrow Agent within five (5) Business Days after receipt of the Sellers’
OFAC Notification.  In the event that the
Purchaser elects to terminate this Agreement in accordance with the foregoing
sentence, the Escrow Agent shall promptly return the Deposit to the Purchaser
and the parties hereto shall have no further rights, liabilities or obligations
under this Agreement, except such rights, liabilities and obligations that
expressly survive the termination of this Agreement.  The Purchaser hereby covenants and agrees
that if the Purchaser obtains knowledge that the Purchaser or any of any the
Purchaser’s beneficial owners becomes identified on the Lists or is indicted,
arraigned, or custodially detained on charges involving money laundering or
predicate crimes to money laundering, the Purchaser shall immediately notify
the Sellers in writing (the “Purchaser’s OFAC
Notification”), and in such event, the Sellers shall have the
right to terminate this Agreement, upon written notice to the Purchaser and the
Escrow Agent within five (5) Business Days after receipt of the Purchaser’s
OFAC Notification.  In the event that the
Sellers elect to terminate this Agreement in accordance with the foregoing sentence,
the Escrow Agent shall promptly return the Deposit to the Purchaser and the
parties hereto shall have no further rights, liabilities or obligations under
this Agreement, except such rights, liabilities and obligations that expressly
survive the termination of this Agreement.

(l)            Leases
and Operation of Properties.  The Purchaser acknowledges and agrees, that
notwithstanding anything to the contrary set forth herein, but, without
limiting the Sellers’ Express Representations and Warranties or any of the
Sellers’ obligations set forth elsewhere in this Agreement and except as
otherwise expressly provided in Section 3.1(n),
it shall not be a condition precedent to the Purchaser’s obligation to
consummate the Closing that (i) no Lease
shall have been terminated, (ii) no Tenant
shall have vacated, abandoned or ceased operating (or otherwise “gone dark” in)
the premises demised under its Lease, (iii) no
default by any Tenant shall have occurred under any of the Lease Documents with respect to any event, circumstance or a
change in the state of facts first arising after the Effective Date or of which
the Sellers first acquire knowledge after the Effective Date or (iv) no bankruptcy, insolvency, rearrangement or similar
actions shall have been commenced, voluntarily or involuntarily, by or against
any Other Tenant.

(m)          Property
Management.  The Tedeschi Realty Contracts
shall be terminated as of the Closing Date (it being acknowledged and agreed
that in no event shall the Purchaser assume or be bound by any obligations
thereunder).

(n)           Umbrella Guarantor.  The Sellers acknowledge and agree that from
and after the Closing Date until the Expiration Date, the Umbrella Guarantor
shall maintain a net worth (and liquid current assets in cash or cash
equivalents) of not less than the Retention Amount then in effect.  At the Umbrella Guarantor’s option, the
Umbrella Guarantor may assign its obligations under the Umbrella Guaranty,
pursuant to an assignment and assumption agreement (which agreement shall be
subject to the prior approval of the Purchaser, which approval shall not be
unreasonably withheld, delayed or conditioned) to an entity (the “Single Purpose Guarantor”) that is (i) owned and controlled, directly or indirectly, by the
Beneficial Owners of Tedeschi Realty and (ii) formed for
the sole purpose of, and for as long as the Umbrella 

 50
 

Guaranty remains in effect shall be engaged in no business other than,
performing the obligations under the Umbrella Guaranty.

(o)           Connecticut
Transfer Act. 
The Sellers and the Purchaser acknowledge that the Meriden Property is
deemed to be an “establishment” pursuant to the provisions of the Connecticut
Transfer Act and that a Connecticut Transfer Act filing will need to be made in
connection with the conveyance of the Meriden Property.  Montowese Industrial Park, Inc. (the “Prior Meriden Owner”), the former
owner of the Meriden Property and an affiliate of Stop & Shop, was the
certifying party on the prior Form III, Connecticut Transfer Act filing that
was made with the Connecticut DEP when Meriden Realty acquired the Meriden
Property due to the Hazardous Materials that were then present on and/or under
the Meriden Property.  Meriden Realty
will request that the Prior Meriden Owner or Stop & Shop (i) be responsible for filing all forms, certifications, and
other documentation required under Connecticut Transfer Act in connection with
the conveyance of the Meriden Property (and paying all filing fees relating
thereto to the Connecticut DEP), (ii) provide
copies of such documentation to the Purchaser and Meriden Realty and (iii) continue to retain responsibility for all monitoring,
remedial and post-remedial activities at the Meriden Property to the extent
required by the Connecticut Transfer Act due to the presence of Hazardous
Materials on and/or under the Meriden Property as of the Closing Date (the
matters described in the foregoing clauses (i) through (iii) shall be
collectively referred to herein as the “Connecticut Transfer Act
Obligations”).  In the
event the Prior Meriden Owner shall fail to perform any of the Connecticut
Transfer Act Obligations, then, as between the Purchaser and the Sellers, (x) Meriden Realty shall perform such Connecticut Transfer
Act Obligations and (y) retain the
right to assert a claim (which shall in no event include a claim to terminate
the Meriden Lease) against Stop & Shop under the Meriden Lease (and, to the
extent applicable if Stop & Shop fails to pay any such claims, against the
applicable Guarantor under the Meriden Stop & Shop Lease Guaranty) for all
losses, costs and damages incurred by Meriden Realty in connection with the
Connecticut Transfer Act Obligations. 
The provisions of this Section 3.4(o)
survive the Closing.

(p)           Target Estoppel Certificate and
Walmart Estoppel Certificates.  It shall be a condition precedent to the
Purchaser’s obligations to consummate the Closing that the Sellers obtain the
Target Estoppel Certificate and the Walmart Estoppel Certificates prior to the
Closing; provided, however, in the event that the Sellers are unable to obtain
the Target Estoppel Certificate and/or the Walmart Estoppel Certificates prior
to the Closing or any such certificate reveals any material outstanding
obligation or default by any Seller, then, subject to the satisfaction
of the other terms and conditions of this Agreement, the Closing shall be
consummated in accordance with the terms hereof and (i)
the Sellers, at their sole cost and expense, shall perform any such outstanding
obligation or cure any such default (but only to the extent such cure can be
effected prior to Closing; any cure following the Closing Date shall be
performed by the Purchaser as provided in clause (y) below), (ii) the Sellers shall remain obligated to obtain the Target
Estoppel Certificate and/or the Walmart Estoppel Certificates and deliver the
same to the Purchaser, (iii) once the
Target Estoppel Certificate has been delivered to the Purchaser, the Retention
Amount shall be reduced by an amount equal to FIVE HUNDRED
THOUSAND DOLLARS ($500,000) and (iv) once
the Walmart Estoppel Certificates have been delivered to the Purchaser, the
Retention Amount shall be reduced by an amount equal to FIVE HUNDRED
THOUSAND DOLLARS ($500,000) for each undelivered Walmart Estoppel
Certificate.  In the event that the
Target Estoppel Certificate or any Walmart Estoppel Certificate delivered to
the Purchaser before or after the Closing Date indicates that there then 

 51
 

exists (with respect to any period prior to the Closing Date) any
outstanding obligation to be performed by any Seller or any default by any
Seller under the applicable reciprocal easement agreement referenced in such
certificate, then, (x) the
Retention Amount for the applicable certificate shall be equal to one hundred
fifty percent (150%) of the estimated cost to perform such obligation or cure
such default (as agreed upon by the Purchaser and the Sellers), (y) to the extent that such default cannot be timely
cured by the Sellers prior to the Closing Date, then the Purchaser shall have
the right to cure such default following the Closing Date, and the Sellers
shall be obligated to promptly reimburse the Purchaser for all reasonable out
of pocket costs incurred by the Purchaser to cure such default and (z) thereafter, from time to time, as applicable, a portion
of the Retention Amount equal to the amount that the Sellers have so reimbursed
the Purchaser shall be released upon payment of such reimbursement, and any
excess of the Retention Amount for the Target Estoppel Certificate and the
Walmart Estoppel Certificates shall be released only when Target or Walmart, as
applicable, has acknowledged that the default in question has been cured.  In the event that the Sellers are unable to
deliver the Target Estoppel Certificate or any Walmart Estoppel Certificate to
the Purchaser, the FIVE HUNDRED THOUSAND
DOLLARS ($500,000) held in the Retention Amount for each such
undelivered certificate shall be reduced to TWO HUNDRED
FIFTY THOUSAND DOLLARS ($250,000) on the six (6) month anniversary
of the Closing Date and reduced to zero (0) on the twelve (12) month
anniversary of the Closing Date.  In the
event that the Target Estoppel Certificate or any Walmart Estoppel Certificate
reveals any default by any party other than any Seller, the allegation of such
third party default shall not affect the rights and obligations of the parties
hereunder.  The provisions of this Section 3.4(p) shall survive
the consummation of the Closing.

(q)           Estoppel
Certificates Relating to Reciprocal Easement Agreements.  If and when requested by the Purchaser, the
Sellers shall use commercially reasonable efforts to obtain estoppel
certificates, in substantially the forms prepared by the Purchaser (provided
that the same are acceptable to the Sellers, in their reasonable discretion),
relating to the status of matters under any reciprocal easement agreements that
constitute Permitted Exceptions, executed by the parties that are bound by such
reciprocal easement agreements (collectively, the “REA
Estoppels”); provided, however, that the execution
and delivery of such REA Estoppels shall not be a condition precedent to the
Purchaser’s obligation to consummate the Closing.  Sending the form of the REA Estoppels to the
applicable parties with the request that they be executed and delivered to the
Sellers prior to the consummation of the Closing and subsequent follow-up
telephone calls or e-mails to check on the status of such requests shall
constitute commercially reasonable efforts as used in this Section 3.4(q)
and in no event shall commercially reasonable efforts require the Sellers to
pay any consideration, expend any other sums or institute any legal proceedings
in connection with the execution and delivery of the REA Estoppels.  In the event that any REA Estoppel reveals
any default by any party other than any Seller, the allegation of such third
party default shall not affect the rights and obligations of the parties
hereunder.

(r)           Subordination, Nondisturbance and
Attornment Agreements.  If and when requested by the Purchaser, the
Sellers shall use commercially reasonable efforts to obtain subordination,
nondisturbance and attornment agreements, in substantially the forms prepared
by the Purchaser’s lenders, executed by the Tenants  (collectively, the “SNDAs”);
provided, however, that the execution and delivery of such SNDAs
shall not be a condition precedent to the Purchaser’s obligation to consummate
the Closing.  Sending the form of the
SNDAs to the applicable Tenants with the request that they be executed and
delivered to the Sellers, the Purchaser or the Purchaser’s lenders prior to the
consummation of the Closing and subsequent 

 52
 

follow-up telephone calls or e-mails to check on the status of such
requests shall constitute commercially reasonable efforts as used in this Section 3.4(r) and in no event
shall commercially reasonable efforts require the Sellers to pay any
consideration, expend any other sums or institute any legal proceedings in
connection with the execution and delivery of the SNDAs certificates.

(s)           Environmental
Matters relating to Orleans and Middleboro.  The Purchaser and the Sellers have agreed
that the Purchaser may perform, pursuant to and in accordance with the terms of
the Orleans/Middleboro Access Agreement (including, without limitation, the
scope of work attached thereto as Exhibit B), such limited environmental
investigations at the Orleans Property and the Middleboro Property as are
described in the Orleans/Middleboro Access Agreement.  It shall be a condition precedent of the
Purchaser’s obligation to consummate the Closing that the laboratory analytical
results of the investigations permitted under the Orleans/Middleboro Access
Agreement with respect to the Orleans Property (the “Orleans
Testing Results”) do not reveal conditions that require
notification to the Massachusetts DEP pursuant to 310 CMR 40.0300 of the
Massachusetts Contingency Plan.  In the
event that the Orleans Testing Results reveal conditions that require
notification to the Massachusetts DEP, the Purchaser may elect to treat the
Orleans Property as a Rejected Property pursuant to Section
10.3 of this Agreement.

The parties acknowledge
that the Middleboro Property was previously issued a release tracking number in
1987 and subsequently received a “Not a Site Determination” from the
Massachusetts DEP on October 7, 1993.  It
shall be a condition precedent of the Purchaser’s obligation to consummate the
Closing that the laboratory analytical results of the investigations permitted
under the Orleans/Middleboro Access Agreement with respect to the Middleboro
Property (the “Middleboro Testing Results”)
do not reveal conditions that require notification to the Massachusetts DEP
pursuant to 310 CMR 40.0660 or any other applicable provision of the
Massachusetts Contingency Plan; provided; however that, in the
event that the Middleboro Testing Results reveal conditions that the Purchaser’s
consultant believes require notification to the Massachusetts DEP, then within
five (5) Business Days after the Purchaser provides the Middleboro Testing
Results to the Sellers, the Sellers and the Purchaser shall jointly retain a
mutually acceptable Licensed Site Professional (the “LSP”) who has not had a relationship
with either the Sellers or the Purchaser within the last three (3) years, on
terms mutually acceptable to the parties, including but not limited to, an
indemnification and insurance limit of not less than TWO MILLION DOLLARS ($2,000,000).  The contract with the LSP shall provide that
the parties are jointly retaining the LSP, but that the Sellers are solely
responsible for payment of the LSP costs and expenses.  If the parties cannot agree on the LSP, each
party shall select a Licensed Site Professional and the two (2) Licensed Site
Professionals shall jointly select a third (3rd) Licensed Site Professional to serve as
the LSP to review the Middleboro Testing Results.  The LSP shall be presented with the  Middleboro Testing Results and the Closing of
the Purchaser’s acquisition of the Middleboro Property shall be delayed (it
being agreed that Closing shall proceed on the Closing Date (as the same may be
extended pursuant to the terms hereof) with respect to all other Properties
that are not Rejected Properties pursuant to Section 10.3) until the day that is fifteen (15) days
following either (i) the LSP’s
delivery to the Purchaser and the Sellers of a written, stamped certification
that, in the opinion of such LSP, (A)
no notification pursuant to the Massachusetts Contingency Plan, and (B) no further Action with respect to the
Middleboro Property under the Massachusetts Contingency Plan is required as a
result of the Middleboro Testing Results (the “LSP Final Notice”), or (ii)
in the event that, in the opinion of 

 53
 

the LSP,
notification pursuant to the Massachusetts Contingency Plan is required, then
the LSP’s submission to the Massachusetts DEP (with a copy to the Purchaser and
the Sellers) of a complete Release Action Outcome Statement (“RAO”), which RAO shall provide that no
significant risk exists on the Middleboro Property and that no further Action
(as defined below) is required with respect thereto (hereinafter referred to as
the “Acceptable Middleboro RAO”).  For purposes of this section, “Action” shall
mean any further activities, including but not limited to, reporting, testing,
monitoring, investigation, remediation, submittals, or the implementation of
any activity or use restrictions whatsoever. 
If the Closing has not occurred in accordance with the immediately
preceding sentence by the date that is one hundred twenty (120) days after the
Middleboro Testing Results are delivered to the LSP, then the Purchaser may
elect to treat this Agreement as terminated with respect to the Middleboro
Property and receive a return of the Allocated Deposit.  At the Closing on the Middleboro Property,
the Purchaser shall reimburse the Sellers for one-half the amounts paid by the
Sellers to the LSP, but if no Closing with respect to the Middleboro Property
occurs as provided herein, the Purchaser shall not be obligated to reimburse
the Sellers for any such amounts.

(t)            Other
Estoppel Certificates.  The Sellers shall use commercially reasonable
efforts to obtain estoppel certificates (collectively, the “Other Estoppel Certificates”), in
substantially the form attached hereto as EXHIBIT OO,
relating to the status of matters identified on EXHIBIT QQ
(collectively, the “Other Requested Estoppel
Matters”); provided, however, that the execution
and delivery of such Other Estoppel Certificates shall not be a condition
precedent to the Purchaser’s obligation to consummate the Closing.  Sending the form of the Other Estoppel
Certificates to the applicable parties with the request that they be executed
and delivered to the Sellers prior to the consummation of the Closing and
subsequent follow-up telephone calls or e-mails to check on the status of such
requests shall constitute commercially reasonable efforts as used in this Section 3.4(t) and in no event
shall commercially reasonable efforts require the Sellers to pay any
consideration, expend any other sums or institute any legal proceedings in
connection with the execution and delivery of the Other Estoppel
Certificates.  In the event that any
Other Estoppel Certificate reveals any default by any party other than the
Seller, the allegation of such third party default shall not affect the rights
and obligations of the parties hereunder. 
Without limiting any of the foregoing, a Final Certificate of Compliance
from the CCC relating to the decision referenced on EXHIBIT
QQ shall be acceptable to the Purchaser (in lieu of an estoppel
certificate executed by the CCC in the form attached hereto as EXHIBIT OO).

Section
3.5.           Material Matters.  If, on or before the Closing Date, any Seller
or the Purchaser determines that there is a Material Matter at any or all of
the Properties, the Sellers and the Purchaser, as applicable, shall promptly
notify the other of such Material Matter.

(a)           In
the event any Material Matters, in the aggregate, exceed ONE MILLION
FIVE HUNDRED THOUSAND DOLLARS ($1,500,000), but are equal to or less
than THREE MILLION DOLLARS ($3,000,000)  (the “Material Matters
Threshold”), the Purchaser and the Sellers shall remain
obligated to perform their obligations hereunder (subject to the other terms
and conditions of this Agreement) and the Purchaser shall be entitled to a
credit toward the Purchase Price in an amount equal to the portion of the
Material Matters that exceed ONE MILLION FIVE HUNDRED
THOUSAND DOLLARS ($1,500,000).

 54
 

(b)           In
the event any Material Matters, in the aggregate, exceed the Material Matters
Threshold, (i) the Purchaser may elect, in
writing, to waive any such Material Matters in excess of the Material Matters
Threshold and, in such event, the Purchaser shall be entitled to a credit
toward the Purchaser Price in an amount equal to ONE MILLION
FIVE HUNDRED THOUSAND DOLLARS  ($1,500,000) as
set forth in Section 3.5(a) above, (ii) if  the Purchaser
does not so elect to waive such Material Matters in excess of the Material
Matters Threshold (collectively, the “Unresolved Material
Matters”), then, (x) in order to
address such Unresolved Material Matters, the Purchaser or the Sellers may
elect to treat any Property to which such Unresolved Material Matters pertain
as a Rejected Property, subject to and in accordance with the terms of Section 10.3 hereof (including,
without limitation, the limitation on the number of Properties that may be
treated as Rejected Properties under this Agreement) and, if any Properties are
so rejected, the Unresolved Material Matters relating thereto shall be deemed
to be waived and (y) if neither the Purchaser nor
the Sellers elect to treat the applicable Properties as Rejected Properties to
address such Unresolved Material Matters or if, after taking into account all
Properties that either the Purchaser or the Sellers have elected to treat as
Rejected Properties, the Unresolved Material Matters continue to exist, then
the Sellers or the Purchaser may terminate this Agreement by written notice to
the other party and the Escrow Agent, whereupon the Deposit shall promptly be
returned by the Escrow Agent to the Purchaser and the parties hereto shall have
no further rights or obligations hereunder, except for those that specifically
survive the termination of this Agreement. 
In the event any Material Matters, in the aggregate, exceed the Material
Matters Threshold, the parties agree to count towards the Material Matters
Threshold the maximum number of Properties possible, so that the minimum
possible number of Properties could possibly be treated as Rejected Properties
under this Agreement.

(c)           Notwithstanding
anything to the contrary contained herein, the parties hereto acknowledge and
agree that, unless the Purchaser so elects, in its sole discretion, it is not
intended that the concept of a “Material Matter” be applied to any breach by
the Sellers of any of their obligations set forth in this Agreement, and upon
any such breach, the Purchaser shall have the rights set forth in Section 10.3 and Section 11.3.

(d)           For
the purposes of determining whether a Material Matter exists with respect to
the Minimum Rent, Additional Rent or Percentage Rent payable under or the term
of any Lease, the value of any variation in the Minimum Rent, Additional Rent
or Percentage Rent or the term of any Lease from that set forth in the Rent
Roll shall be deemed to be the difference between (i) the value of the respective Property to which such Lease
relates calculated according to the ARGUS MODEL using the information set forth
in the Rent Roll and (ii) the
value of such Property as re-calculated by using the ARGUS MODEL and
substituting such revised Minimum Rent, Additional Rent or Percentage Rent or
term of such Lease, as applicable, in the ARGUS MODEL for the amounts or period
previously used.  The values of any such
variations shall be netted against each other in determining whether a Material
Matter exists.  Notwithstanding the
foregoing, the only cause for a Material Matter to exist with respect to any
Additional Rent is if the methodology of calculating the Additional Rent as
actually set forth in the Lease varies from the methodology of calculating the
Additional Rent as set forth in the Rent Roll.

 55

ARTICLE 4

Confidentiality and Reporting

Section
4.1.           Confidentiality.  Except as otherwise expressly provided
herein, the Purchaser shall hold and shall cause the Purchaser’s Agents to hold
all Confidential Information in confidence and shall not at any time disclose
or permit the disclosure of the Confidential Information to any Person without
the Sellers’ prior written consent.  The
Purchaser further agrees to use the Confidential Information only for purposes
of evaluating the Assets in connection with its purchase thereof in accordance
with the terms of this Agreement. 
Notwithstanding the foregoing, (a)
the Purchaser may disclose the Confidential Information to Purchaser’s Agents
that need to review the Confidential Information in connection with the Purchaser’s
purchase or financing of the Assets in accordance with the terms of this
Agreement, and (b) the Purchaser
may disclose the Confidential Information to the extent that such disclosure is
required by law or court order, provided, that  (i) the Purchaser shall first provide three
(3) Business Days’ written notice thereof to the Sellers (or if shorter, the
longest period of time that the Purchaser is permitted by law or court order to
delay such disclosure) and (ii)
the Purchaser shall cooperate with the Sellers, at no out-of-pocket expense to
the Purchaser, should the Sellers seek to obtain a restraining order to prevent
any such disclosure.  If this Agreement
is terminated before the Closing, the Purchaser promptly shall (x) at the Purchaser’s election, return the
Confidential Information to the Sellers or destroy the Confidential Information
(and, promptly upon such destruction, send the Sellers written confirmation
that the Purchaser has destroyed all of the Confidential Information) and (y) cause the Purchaser’s Agents to
promptly return the Confidential Information to the Sellers or to destroy the
Confidential Information (and, promptly upon such destruction, to send the
Sellers written confirmation of such destruction).  The provisions of this Section 4.1 shall survive the
Closing or termination of this Agreement for a period of one hundred twenty
(120) days.

All press
releases, filings and other publicity concerning the transaction contemplated
hereby made prior to or in connection with the Closing will be subject to
review and approval by the Sellers and the Purchaser, such approval not to be
unreasonably withheld, conditioned or delayed. 
Such approval shall not be required if the Person issuing any such publicity
reasonably believes it to be necessary for compliance with law (including,
without limitation, the Securities Laws), but such Person shall provide the
other parties hereto with such reasonable notice as the circumstances may
permit, including, if reasonably practicable, an opportunity to review same
before release.  The Sellers and the
Purchaser hereby covenant and agree to keep the terms and conditions of this
Agreement confidential prior to the Closing except to the extent that
disclosure is required by law; provided, however, that,
notwithstanding the foregoing, it is acknowledged and agreed that the parties
hereto may disclose this Agreement to (1)
their respective lenders, partners and investors, (2) the professional advisors and consultants that are
advising them or providing necessary professional services in connection with
the transaction contemplated hereby, (3)
any Governmental Authorities or other Persons as may be necessary in order to
obtain any necessary consent or approval from such parties pertaining to any of
the transactions contemplated hereunder and (4)
any Governmental Authorities, but only to the extent required by law or court
and after providing as much prior notice as possible of such disclosure to the
other parties hereto (so that such parties can seek a protective order or other
appropriate remedy).

 56
 

Section
4.2.           Reporting.  In the event that the Purchaser’s due
diligence reveals any condition of any Property that in the opinion of
Purchaser’s outside legal counsel requires disclosure to any Governmental
Authority, the Purchaser shall promptly notify the Sellers.  In such event, the Sellers, and not the
Purchaser nor anyone acting on the Purchaser’s behalf, shall make such
disclosures as the Sellers deem appropriate in accordance with applicable law
except to the extent the Purchaser or the Purchaser’s Agents are required by
law to do so.  Notwithstanding the
foregoing, the Purchaser may disclose matters concerning any Property to a
Governmental Authority if (a) in
the opinion of the Purchaser’s outside legal counsel, the Purchaser is required
by law to make such disclosure (whether or not the Sellers make such
disclosure) and (b) the Purchaser
gives the Sellers not less than three (3) Business Days’ prior written notice
of the proposed disclosure (or if shorter, the longest period of time, if any,
that the Purchaser is permitted by law or court order to delay such
disclosure).

ARTICLE 5

“AS IS” Transaction

Section
5.1.           Disclaimer.  The Purchaser acknowledges and agrees that it
is a sophisticated buyer that is familiar with the ownership and operation of
real estate projects similar to the Properties, and that the Purchaser has been
given a full opportunity to inspect and investigate each and every aspect of
the Properties and any and all matters relating thereto, either independently
or through agents of the Purchaser’s choosing, including, without limitation:

(i)            all matters
relating to title, together with all governmental and other legal requirements
such as taxes, assessments, zoning, use permit requirements and building codes;

(ii)           the physical
condition and aspects of the Properties, including, without limitation, the
interior, the exterior, the square footage within the improvements and within
each tenant space therein, the structure, the paving, the utilities, and all
other physical and functional aspects of the Properties;

(iii)         any easements and/or
access rights affecting the Properties;

(iv)          the Leases and all
matters in connection therewith, including, without limitation, the ability of
the Tenants to pay the rent and the economic viability of the Tenants; and

(v)            all financial
examinations and other matters of significance affecting the Properties or
otherwise relating to the acquisition of the Properties by the Purchaser.

The Purchaser will
acquire the Properties solely on the basis of and in reliance upon such
examinations and not on any information previously or hereafter provided or to
be provided by the Sellers, other than the Express Representations and
Warranties.

Section
5.2.           “AS-IS” Transaction.  Except for the express representations and
warranties contained in this Agreement or any of the Sellers’ Documents
(collectively, the “Express
Representations and Warranties”), the Sellers are not making,
and the Purchaser is not relying upon, any representation or warranty, express
or implied, of any nature whatsoever with respect to the Properties or any of
the other Assets.  Except as may be
expressly set forth in 

 57
 

this Agreement or in any
of the Sellers’ Documents, the Purchaser waives any and all claims and causes
of action, now or hereafter arising, against the Sellers in respect of the
condition of the Properties or the Assets, except all such claims and causes of
action that may arise (i) if any
of the Express Representations and Warranties should prove to be untrue in any
material respect, (ii) to the
extent that the Hanover Work is not completed prior to the Closing Date, from
any failure by Tedeschi Realty to complete the Hanover Work in accordance with
the provisions of Section 3.4(f)
or, to the extent applicable, to complete the Hanover UST Plan of Remediation
in accordance with the provisions of Section
3.4(f), (iii) to
the  extent that the Orleans
Lighting Work is not completed prior to the Closing, from any failure by Skaket
Associates Trust to complete the Orleans Lighting Work, (iv) to the extent that the Target Estoppel
Certificate (x) is not obtained
prior to the Closing, from any failure by Tedeschi Realty to obtain the Target
Estoppel Certificate and deliver the same to the Purchaser or (y) reveals any default by Tedeschi Realty
under the applicable reciprocal easement agreement referenced therein, from
Tedeschi Realty’s failure to cure the same or (v)
to the extent that any Walmart Estoppel Certificate (x) is not obtained prior to the Closing, from any failure by
Tedeschi-Darman or T-Delta to obtain such Walmart Estoppel Certificate
and deliver the same to the Purchaser or (y)
reveals any default by Tedeschi-Darman or T-Delta under the applicable
reciprocal easement agreement referenced therein, from such Seller’s failure to
cure the same.  EXCEPT AS MAY BE SET FORTH IN THE EXPRESS
REPRESENTATIONS AND WARRANTIES,  THE
SELLERS MAKE NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, AND
SPECIFICALLY DISCLAIM ALL REPRESENTATIONS, WARRANTIES OR GUARANTIES, ORAL OR
WRITTEN, PAST, PRESENT OR FUTURE WITH RESPECT TO (A) THE QUALITY, NATURE,
ADEQUACY AND PHYSICAL CONDITION OF THE PROPERTIES OR ANY OTHER ASPECT OF THE
PROPERTIES, INCLUDING, WITHOUT LIMITATION, THE STRUCTURAL INTEGRITY OF THE
IMPROVEMENTS; THE MANNER, CONSTRUCTION, CONDITION, AND STATE OF REPAIR OR LACK
OF REPAIR OF ANY OF THE IMPROVEMENTS; THE QUALITY OF ANY LABOR AND MATERIALS
USED IN ANY IMPROVEMENTS ON ANY PROPERTY; THE CONFORMITY OF ANY OF THE
IMPROVEMENTS TO ANY PLANS OR SPECIFICATIONS FOR ANY PROPERTY (INCLUDING, BUT
NOT LIMITED TO, ANY PLANS AND SPECIFICATIONS THAT MAY HAVE BEEN OR WHICH MAY BE
PROVIDED TO THE PURCHASER); THE SQUARE FOOTAGE WITHIN THE IMPROVEMENTS; THE
CONFORMITY OF ANY PROPERTY TO PAST, CURRENT OR FUTURE APPLICABLE ZONING OR
BUILDING CODE REQUIREMENTS OR THE COMPLIANCE OF ANY PROPERTY WITH ANY OTHER
LEGAL REQUIREMENTS; THE CONDITION OF TITLE TO ANY PROPERTY;  THE FINANCIAL EARNING CAPACITY OR HISTORY OR EXPENSE
HISTORY OF THE OPERATION OF ANY PROPERTY; THE EXISTENCE, QUALITY, NATURE,
ADEQUACY AND PHYSICAL CONDITION OF UTILITIES SERVING ANY PROPERTY; THE
DEVELOPMENT POTENTIAL OF ANY PROPERTY, AND THE USE, HABITABILITY,
MERCHANTABILITY, OR FITNESS, SUITABILITY, VALUE OR ADEQUACY OF ANY PROPERTY FOR
ANY PARTICULAR PURPOSE;  THE NATURE
AND EXTENT OF ANY ENCUMBRANCES; THE EXISTENCE OR NON-EXISTENCE OF ANY
SOIL INSTABILITY WITH RESPECT TO ANY PROPERTY; PAST SOIL REPAIRS, SOIL
ADDITIONS OR CONDITIONS OF SOIL FILL WITH RESPECT TO ANY PROPERTY;
SUSCEPTIBILITY OF ANY PROPERTY TO LANDSLIDES; SUFFICIENCY OF UNDERSHORING WITH
RESPECT TO ANY PROPERTY; SUFFICIENCY OF 

 58
 

DRAINAGE
WITH RESPECT TO ANY PROPERTY; WHETHER THE PROPERTIES ARE LOCATED WHOLLY OR
PARTIALLY IN A FLOOD PLAIN OR A FLOOD HAZARD BOUNDARY OR SIMILAR AREA OR THE
EXISTENCE OR NON-EXISTENCE OF HAZARDOUS WASTE OR OTHER TOXIC MATERIALS OF ANY
KIND (INCLUDING, WITHOUT LIMITATION, ASBESTOS) ON, UNDER OR OTHERWISE AFFECTING
ANY PROPERTY, (B)  ANY OTHER
ASSET, EITHER AS TO ITS FITNESS FOR ANY PARTICULAR PURPOSE OR USE, ITS DESIGN
OR CONDITION OR OTHERWISE, OR AS TO DEFECTS IN THE QUALITY OF THE MATERIAL OR
WORKMANSHIP THEREIN, LATENT OR PATENT OR (C) ANY OTHER MATTER WHATSOEVER; IT
BEING AGREED THAT, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN OR IN ANY OF
THE SELLERS’ DOCUMENTS, ALL RISKS RELATING TO THE DESIGN, CONDITION AND/OR
PAST, PRESENT OR FUTURE USE OF THE PROPERTIES AND THE OTHER ASSETS ARE TO BE
BORNE, AS BETWEEN THE SELLERS AND THE PURCHASER, BY THE PURCHASER.  AS OF THE CONSUMMATION OF THE CLOSING, EXCEPT
WITH RESPECT TO ANY CLAIMS THAT MAY THEREAFTER ARISE AS A RESULT OF (1) ANY
SELLER’S BREACH OF ANY OF THE EXPRESS REPRESENTATIONS AND WARRANTIES OR ANY
SELLER’S BREACH OF ANY OF ITS EXPRESS OBLIGATIONS HEREUNDER, (2) TO THE EXTENT
THAT THE HANOVER WORK IS NOT COMPLETED PRIOR TO THE CLOSING DATE, ANY FAILURE
BY TEDESCHI REALTY TO COMPLETE THE HANOVER WORK OR, TO THE EXTENT APPLICABLE,
THE HANOVER UST PLAN OF REMEDIATION, IN ACCORDANCE WITH THE PROVISIONS OF SECTION
3.4(F) OR (3) TO THE EXTENT THAT THE TARGET ESTOPPEL CERTIFICATE OR THE
WALMART ESTOPPEL CERTIFICATES ARE NOT OBTAINED PRIOR TO THE CLOSING OR REVEAL
ANY ALLEGED DEFAULTS BY ANY SELLER UNDER THE APPLICABLE RECIPROCAL EASEMENT
AGREEMENT REFERRED TO THEREIN, ANY FAILURE BY THE SELLERS TO DELIVER THE SAME
TO THE PURCHASER AND/OR SATISFY THE OBLIGATIONS SET FORTH IN SECTION 3.4(P),
AS BETWEEN THE SELLERS AND THE PURCHASER, THE PURCHASER ASSUMES ALL RISK OF (I)
THE PHYSICAL, ENVIRONMENTAL AND FINANCIAL CONDITION OF THE PROPERTIES AND THE
OTHER ASSETS, (II) THE SUITABILITY OF THE PROPERTIES AND THE OTHER ASSETS FOR
OPERATION FOR ANY CURRENT OR FUTURE INTENDED USE, (III) THE COMPLIANCE OR
NON-COMPLIANCE OF THE PROPERTIES AND THE OTHER ASSETS WITH ALL APPLICABLE
REQUIREMENTS OF LAW, INCLUDING BUT, NOT LIMITED TO, ENVIRONMENTAL LAWS AND
ZONING AND OTHER LAND USE LAWS, AND (IV) ALL MATTERS THAT TITLE EXAMINATIONS,
PHYSICAL INSPECTIONS, ENVIRONMENTAL SITE ASSESSMENTS AND SURVEYS OF THE LAND
MAY DISCLOSE.

Section
5.3.           Waivers;
Release and Covenant Not to Sue. 
Except as expressly provided below in this Section 5.3, the Purchaser, for the Purchaser and the
Purchaser’s successors and assigns, hereby releases all Seller Parties from,
and irrevocably and unconditionally waives all claims and liability against the
Seller Parties for or attributable to, the following:

 59
 

(a)           any and all
statements or opinions heretofore or hereafter made, or information furnished,
by or on behalf of any Seller Party to the Purchaser or any of the Purchaser’s
Agents; and

(b)           any and all losses,
costs, claims, liabilities, expenses, demands or obligations of any kind or
nature whatsoever, whether known or unknown and foreseen or unforeseen,
attributable to the Assets, whether arising or accruing before, on or after the
Closing and whether attributable to events or circumstances which have
heretofore or may hereafter occur, including, without limitation, all losses,
costs, claims, liabilities, expenses, demands and obligations with respect to
the structural, physical, or environmental condition of the Properties,
including, without limitation, claims or liabilities relating to the presence,
discovery or removal of any Hazardous Materials in, at, under or about the
Properties and any other matters described in Article 5;
provided, however, that the release, waivers and disclaimers set
forth in Article 5 is not intended
and shall not be construed to waive, affect or impair any rights or remedies
that the Purchaser may have against any Seller as a result of (i) a breach of any of the Express Representations and
Warranties, (ii) a breach of any covenant
of the Sellers expressly set forth in this Agreement or any of the Sellers’
Documents or (iii) any alleged injury to
persons or property arising from events or circumstances attributable to the
Assets occurring on or prior to the Closing Date; subject, in each instance, to
the terms and limitations on Sellers’ liability as set forth elsewhere in this
Agreement and the Sellers’ Documents.

The Purchaser
acknowledges and agrees that (1)
the Purchaser may hereafter discover facts different from or in addition to
those now (or at the Closing) known to the Purchaser, (2) the Purchaser’s agreement to
release, acquit and discharge the Seller Parties as set forth in this Article 5 shall remain in full
force and effect notwithstanding the existence or discovery of any such
additional or different facts, (3)
the Purchaser knowingly waives any rights, privileges and benefits under any
federal, state or local law which may negatively impact the validity or
enforceability of any part of the releases set forth in this Agreement (except
with respect to the Retained Liabilities), and (4) the Purchaser irrevocably covenants never to commence or
prosecute, or to collude with others to commence or prosecute, against any
Seller or any other Seller Party any action or proceeding based upon any claim
covered by the foregoing release.

(c)           The releases
contained in this Article 5
and elsewhere in this Agreement include claims that the Purchaser is presently
unaware of or that the Purchaser does not presently suspect to exist, which, if
known by the Purchaser, could or would materially affect the Purchaser’s
release of the Sellers and the other Seller Parties.  The Purchaser specifically waives the
provisions of any law of any state, territory or jurisdiction the import of
which is as follows:

A general release does not extend to claims which the creditor does not
know or suspect to exist in its favor at the time of executing the release,
which if known by the creditor must have materially affected the creditor’s
settlement with the debtor.

(d)           Notwithstanding
anything to the contrary in this Agreement, the provisions of this Article 5 shall survive the
Closing.

(e)           The Purchaser
understands the legal significance of the foregoing provisions and acknowledges
and agrees that (i) the provisions of this Article 5 constitute a material and
essential inducement to Sellers’ execution and delivery of this Agreement and
the Sellers’ willingness to agree to accept the Purchase Price for the Assets
and (ii) the Sellers are unwilling 

 60
 

to sell the Assets to the Purchaser unless the Sellers and the other
Seller Parties are expressly released as set forth in the foregoing provisions
of this Article 5.

THE PURCHASER HEREBY
SPECIFICALLY ACKNOWLEDGES THAT THE PURCHASER HAS CAREFULLY REVIEWED THIS ARTICLE 5, DISCUSSED ITS IMPORT WITH
LEGAL COUNSEL, AND IS FULLY AWARE OF ITS CONSEQUENCES.

	
  PURCHASER:

  	
   

  	
  GM

  	
   

  

 

ARTICLE 6

Casualty Damage or Condemnation

Section
6.1.           Risk
of Loss.

(a)           In the event all or
a portion of the Improvements with respect to any Property should be damaged or
destroyed by fire or other casualty prior to the Closing, within two (2)
Business Days after learning of such damage or destruction, the Sellers shall
have ten (10) Business Days to provide written notice to the Purchaser of such
damage or destruction and the Sellers’ reasonable estimate (based upon
estimates obtained from an independent contractor) of the cost to repair the
same (“Sellers’ Estimate”).  In the event that with respect to any such
damage or destruction (x) the Sellers’
Estimate exceeds the applicable Casualty Threshold for such Property or (y) any Tenant shall have the right to terminate any
Material Lease relating to the affected Improvements and such right has not
expired (without exercise) or been waived (in writing) prior to the Closing, then,
with respect to each such instance of damage or destruction the Purchaser may
elect to either:

(i)            subject to clause
(iii) below, reject each such damaged Property and the Purchaser shall have no
further obligations or liabilities with respect to each such Property hereunder
and shall be entitled to a credit toward the Purchase Price in an amount equal
to the Allocated Value for each such Property;

(ii)           close the
transaction contemplated by this Agreement without rejecting any such damaged
Property and without any reduction in the Purchase Price, except that the
Purchaser shall be entitled to a credit toward the Purchase Price in an amount
equal to any deductible or self-insured or uninsured amount with respect to
such damage; or

(iii)         terminate this
Agreement by written notice to the Sellers and the Escrow Agent in the event
that more than three (3) Properties have been treated as Rejected Properties
pursuant to Section 10.3 of this Agreement
(it being acknowledged and agreed that the first Property rejected pursuant to Article 6 as a result of any
casualty or condemnation shall not be deemed to be a Rejected Property, provided,
however, that, any additional Properties rejected pursuant to Article 6 as a result of any
casualty or condemnation shall thereafter be deemed to be Rejected Properties),
whereupon the Deposit shall promptly be returned by the Escrow Agent to the
Purchaser and the parties hereto shall have no further rights or obligations
hereunder, except for those that specifically survive the termination.

 61
 

(b)           In the event of any
damage or destruction, (i) with
respect to which the Purchaser does not have the right to elect to reject any
damaged Property pursuant to Section 6.1(a)(i)
or (ii) with respect to which the
Purchaser elects to proceed pursuant to Section 6.1(a)(ii),
the Purchaser shall purchase the Assets, to the extent otherwise required by
this Agreement, in accordance with the terms of this Agreement (without
reduction of the Purchase Price, except as expressly set forth in this Section 6.1) and, subject to the
terms and provisions of the applicable Lease Documents, the Sellers shall
assign to the Purchaser at Closing all insurance proceeds payable on account of
such damage.  The Purchaser shall be
deemed to have elected to proceed under Section 6.1(a)(ii)
unless, within ten (10) Business Days following receipt of the Sellers’
Estimate, the Purchaser provides the Sellers with written notice (each, a “Casualty Rejection Notice”) that
the Purchaser elects to reject any damaged Property pursuant to Section 6.1 (a)(i).  The provisions of this Section 6.1(b)
shall survive the Closing.

(c)           The Sellers shall
not settle or compromise any insurance claim with a value or cost in excess of TEN THOUSAND DOLLARS ($10,000) without the prior written
consent of the Purchaser (which consent shall not be unreasonably withheld,
conditioned or delayed), and the Purchaser shall have the option to participate
in any such claim.  The Sellers shall
obtain the Purchaser’s prior approval (which approval shall not be unreasonably
withheld, delayed or conditioned) with respect to (i)
the repair of any work with a cost in excess of TEN THOUSAND
DOLLARS ($10,000) (including the plans, contracts and contractors
for such repair work), and (ii) the repair
of any other casualty, if such repair will not be fully completed prior to the
Closing.

If necessary, the
Closing Date shall be postponed to allow for the ten (10) Business Day period
for Sellers’ Estimate and the ten (10) Business Day period for the Purchaser to
respond as set forth in this Section 6.1.

Section
6.2.           Condemnation.

(a)           In the event that
all or any material portion of any Property should be taken by right of eminent
domain or transferred in anticipation thereof or subject to an action for
condemnation under the right of eminent domain, prior to the Closing, the
Sellers shall five (5) Business Days after receipt of notice thereof to notify
the Purchaser of such condemnation and the Purchaser may elect either to:

(i)            subject to clause
(iii) below, reject any Property affected by such condemnation and the
Purchaser shall have no further obligations or liabilities with respect to such
Property hereunder and shall be entitled to a credit toward the Purchase Price
in an amount equal to the Allocated Value for each such Property;

(ii)           close the
transaction contemplated by this Agreement without rejecting any such Property
affected by such condemnation and without a reduction in the Purchase Price; or

(iii)         terminate this
Agreement by written notice to the Sellers and the Escrow Agent in the event
that more than three (3) Properties have been treated as Rejected Properties
pursuant to Section 10.3 of this Agreement
(it being acknowledged and agreed that the first Property rejected pursuant to Article 6 as a result of any
casualty or condemnation shall not be deemed to be a Rejected Property, provided,
however, that, any additional Properties rejected 

 62
 

pursuant to Article 6
as a result of any casualty or condemnation shall thereafter be deemed to be
Rejected Properties), whereupon the Deposit shall promptly be returned by the
Escrow Agent to the Purchaser and the parties hereto shall have no further
rights or obligations hereunder, except for those that specifically survive the
termination.

(b)           In the event of any
condemnation (i) with respect to which the
Purchaser does not have the right to reject any Property affected by such
condemnation pursuant to Section 6.2(a)(i)
or (ii) with respect to which the
Purchaser elects to proceed under Section 6.2(a)(ii),
the Purchaser shall purchase the Assets, to the extent otherwise required in
this Agreement, in accordance with the terms of this Agreement (without
reduction of the Purchase Price) and, subject to the terms and provisions of
the applicable Lease Documents, the Sellers shall assign to the Purchaser at
Closing all condemnation proceeds paid or payable as a result of such
condemnation.  The Purchaser shall be
deemed to have elected to proceed under Section 6.2(a)(ii)
unless, within five (5) Business Days prior to the Closing, the Purchaser
provides the Sellers with written notice (each, a “Condemnation
Rejection Notice”) that the Purchaser elects to reject any
Property affected by such condemnation pursuant to Section 6.2(a)(i).  The provisions of this Section 6.2(b)
shall survive the Closing.

(c)           The Sellers shall
not settle or compromise any condemnation claim or proceeding without the prior
written consent of the Purchaser, which consent shall not be unreasonably
withheld, delayed or conditioned and the Purchaser shall have the option, at
its sole expense, to participate in any such claim or proceeding.

(d)           For the purposes
this Section 6.2, the taking of a “material
portion” of any Property shall mean any taking which (i)
materially and adversely affects the access to such Property so as to interfere
with the operation of the Property, (ii) materially
and adversely interferes with the operation of the Property (including, without
limitation, the adequacy of the parking), (iii) results
in a taking of more than ten percent (10%) of the total land area of any
Property or ten percent (10%) parking spaces thereon, (iv)
gives rise to a right to terminate any Material Lease, which right does not
expire (without being exercised) or is not waived (in writing) before the
Closing or (v) results in a permanent
reduction in the amount of rent under any applicable Material Lease of ten
percent (10%) or more from the amount of rent payable thereunder immediately
prior to such taking.

If necessary, the
Closing Date shall be postponed to allow for the Sellers’ five (5) Business Day
notice and Purchaser’s five (5) Business Days to respond as set forth in Section 6.2.

Section
6.3.           Cooperation.  In the event that, pursuant to the provisions
of Section 6.1 or Section 6.2 hereof, the Purchaser
does not have the right to reject or does not elect to reject any damaged
Property or any Property affected by any condemnation, then, subject to
the terms and conditions of the Lease Documents, the Sellers shall take such
actions prior to the Closing as are necessary to preserve their rights to such
insurance or condemnation proceeds. 
After the Closing, the Sellers shall reasonably cooperate to assist the
Purchaser in collection of any applicable insurance or condemnation proceeds; provided,
that, the Purchaser shall pay all reasonable out-of-pocket expenses
incurred by Sellers in connection with such cooperation.  The provisions of this Section 6.3 shall survive the
Closing.

 63
 

ARTICLE 7

Representations, Warranties and
Covenants

Section
7.1.           Purchaser’s
Representations.  As a material
inducement to the Sellers to enter into this Agreement and consummate the
transaction contemplated hereunder, the Purchaser makes the following representations
and warranties to the Sellers, which representations and warranties are true as
of the date of this Agreement and, as a condition of the Sellers’ obligation to
consummate the transaction contemplated hereunder, shall be true and correct in
all material respects as of the Closing Date; provided, that,
such representations and warranties shall be treated as modified as of the
Closing, and without breach of the foregoing obligation of the Purchaser, by
the Purchaser’s delivery at such Closing of a certification in substantially
the form attached hereto as EXHIBIT S,
reflecting the occurrence of any event (other than an act of the Purchaser) or
change in the state of facts first arising after the date hereof and prior to
the Closing relating to the representations and warranties made by the
Purchaser (the “Purchaser’s Closing
Certification”).  The
following representations and warranties (as the same may be modified by any
Purchaser’s Closing Certification) shall survive until the Expiration Date.

(a)           Formation; Existence.  The Purchaser is a limited liability company
duly formed, validly existing and in good standing under the laws of Delaware.

(b)           Due Authority;
Enforceability.  The Purchaser
has all requisite power and authority to execute and deliver this Agreement and
to carry out its obligations hereunder and the transaction contemplated
hereby.  This Agreement has been, and the
Purchaser’s Documents contemplated hereby will be, duly executed and delivered
by the Purchaser and constitute the Purchaser’s legal, valid and binding
obligations enforceable against the Purchaser in accordance with their terms,
subject only to bankruptcy, insolvency, reorganization and similar laws or
equitable principles relating to or affecting the enforcement of creditors’
rights generally.

(c)           Pending or
Threatened Litigation.  There are
no actions, suits or proceedings pending or, to the best of the Purchaser’s
knowledge, threatened, against or affecting the Purchaser which, if determined
adversely to the Purchaser, would adversely affect in any material respect its
ability to perform its obligations hereunder.

(d)           Conflict; Breach.  Neither the execution or delivery of this
Agreement by the Purchaser, nor the performance by the Purchaser of its
obligations hereunder conflicts or will conflict with or results or will result
in a breach of or constitutes or will constitute a default under (i) the organizational documents of the Purchaser, (ii) to the best of the Purchaser’s knowledge, any law,
ordinance, rule or regulation of any Governmental Authority or any order, writ,
injunction or decree of any court, arbitrator or Governmental Authority or (iii) any agreement or instrument to which the Purchaser is
a party or, to its knowledge, by which it is bound or results in the creation
or imposition of any lien, charge or encumbrance upon its property pursuant to
any such agreement or instrument.

(e)           Authorization;
Consent.  No authorization,
consent, or approval, which has not been obtained, is required for the
execution and delivery by the Purchaser of this Agreement or the performance of
its obligations hereunder.

 64
 

(f)            Taxpayer ID Number.  The Purchaser’s taxpayer identification
number is 20-2675640.

(g)           Patriot Act.  The Purchaser is in compliance with the
requirements of the Executive Order and other similar requirements contained in
the rules and regulations of the OFAC and in any enabling legislation or other
executive orders or regulations in respect thereof (the Executive Order and
such other rules, regulations, legislation, or orders are collectively referred
to as the “Orders”).  Neither the Purchaser nor, to the Purchaser’s
knowledge, any beneficial owner of the Purchaser is:

(i)            a Specially
Designated National or Blocked Person or identified on any other list of
terrorists or terrorist organizations maintained pursuant to any of the rules
and regulations of OFAC or pursuant to any other applicable Orders (such lists
are collectively referred to as the “Lists”);

(ii)           a Person who has
been determined by competent authority to be subject to the prohibitions
contained in the Orders; or

(iii)         owned or controlled,
directly or indirectly, by, or acts for or on behalf of, any Person on the
Lists or any other Person who has been determined by competent authority to be
subject to the prohibitions contained in the Orders.

Section 7.2.           Sellers’
Representations.  As a material
inducement to the Purchaser to enter into this Agreement and consummate the
transaction contemplated hereunder, the Sellers make the following
representations and warranties to the Purchasers, which representations and
warranties are true as of the date of this Agreement and, as a condition of the
Purchaser’s obligation to consummate the transaction contemplated hereunder,
shall be true and correct in all material respects as of the Closing Date; provided,
that, (i) the
Representations and Warranties set forth in this Section 7.2 shall be treated as modified as of the
Closing, and without breach of the foregoing obligation of the Sellers (but,
without limiting the Sellers’ obligations set forth elsewhere in this Agreement
or waiving any claim by the Purchaser with respect to any default by the
Sellers of any such obligation), by the Sellers’ delivery at the Closing of a
certification in substantially the form attached hereto as EXHIBIT T, reflecting the
occurrence of any event or change in the state of facts first arising after the
date hereof and prior to the Closing relating to the Express Representations
and Warranties made by the Sellers (the “Sellers’
Closing Certification”) and (ii)
notwithstanding the foregoing, it shall not be a condition of the Purchaser’s
obligation to consummate the transaction contemplated hereunder, that the
representation made in the last sentence of Section 7.2(c)(12) be true and correct as of the Closing
Date or that such representation be included in the Sellers’ Closing
Certification.  The following
representations and warranties (as the same may be modified by any Sellers’
Closing Certification) shall survive until the Expiration Date.  It is acknowledged and agreed that any matter
expressly disclosed on any Exhibit attached hereto shall be deemed to be an
exception (as applicable) to every representation made herein by the Sellers.  THE PURCHASER HEREBY ACKNOWLEDGES AND AGREES
THAT, NOTWITHSTANDING ANYTHING TO THE CONTRARY SET FORTH HEREIN, (X) EACH OF THE PARTIES THAT CONSTITUTE THE
SELLERS ARE REFERRED TO COLLECTIVELY AS THE SELLERS MERELY FOR THE SAKE OF
CONVENIENCE AND (Y) EACH SELLER
MAKES THE EXPRESS REPRESENTATIONS AND WARRANTIES ONLY ON ITS OWN BEHALF AND
SOLELY WITH RESPECT TO (1) ITSELF
AND ITS MEMBERS, MANAGERS, BENEFICIARIES OR 

 65
 

OTHER BENEFICIAL OWNERS,
AS APPLICABLE, (2) ANY
PROPERTY OR ASSET THAT IT OWNS, (3) ANY
LEASE DOCUMENTS, FINANCING DOCUMENTS, NONDISTURBANCE AGREEMENTS, CONTRACTS,
PERMITS OR OTHER AGREEMENTS THAT IT HAS ENTERED INTO OR MAY BE BOUND BY, (4) ANY RECOGNIZED SUBLEASES RELATING TO
ANY PROPERTY THAT IT OWNS, (5) ANY
COLLATERAL RELATING TO ANY LEASE PERTAINING TO ANY PROPERTY THAT IT OWNS OR (6) ANY OTHER MATTER RELATING TO ANY
PROPERTY OR ASSET THAT IT OWNS.

(a)           Organizational
Matters.

(1)           Formation; Existence.  The Seller LLCs are each limited liability
companies duly formed, validly existing and in good standing under the laws of
the Commonwealth of Massachusetts. 
Kingsbury SPM is the sole manager of Kingsbury LLC.  Meriden SPM is the sole manager of Meriden
Realty.  Tedeschi Realty and the Managers
are each corporations duly formed, validly existing and in good standing under
the laws of the Commonwealth of Massachusetts. 
Tedeschi Realty is authorized to do business in the State of Rhode
Island.  Meriden Realty is authorized to
do business in the State of Connecticut. 
The Seller Nominee Trusts are each nominee trusts duly formed and
validly existing under the laws of the Commonwealth of Massachusetts.

(2)           Due Authority;
Enforceability.  The Sellers have
all requisite power and authority to execute and deliver this Agreement and to
carry out their obligations hereunder and the transaction contemplated hereby.  This Agreement shall have been, and each of
the Sellers’ Documents to be executed and delivered by any of the Sellers
hereunder shall be, duly executed and delivered by such Sellers and shall
constitute such Sellers’ legal, valid and binding obligations enforceable
against the Sellers in accordance with their terms, subject only to bankruptcy,
insolvency, reorganization and similar laws or equitable principles relating to
or affecting the enforcement of creditors’ rights generally.

(3)           Pending or Threatened
Actions.  Except for actions,
suits or proceedings for alleged injuries to persons or property for which the
applicable insurance provider has confirmed coverage, there are no actions,
suits or proceedings pending or, to the best of the Sellers’ knowledge,
threatened, against or affecting any of the Sellers.

(4)           Conflicts; Breach.  Neither
the execution or delivery of this Agreement by any Seller nor the performance
by the Sellers of their obligations hereunder conflicts or will conflict with
or results or will result in a breach of or constitutes or will constitute a
default under (i) any organizational documents
of any Seller, (ii) to the best of the Sellers’
knowledge, any law, ordinance, rule or regulation or any order, writ,
injunction or decree of any court, arbitrator or Governmental Authority, in
each case to the extent applicable to any Seller or (iii) subject
to (x) obtaining the Consents and the
Financing Assignment and Assumption Documents to be executed by Hancock,
prepaying the applicable Financing Documents or withdrawing the applicable
Properties from this transaction in accordance with the provisions of Section 10.2 and (y) sending the Orleans Groundwater Discharge Permit
Assignment to the Massachusetts DEP, any agreement or instrument to which any
of the Sellers is a party or, to the best of the Sellers’ knowledge, by which
any Seller is bound or results in the creation or imposition of any lien,
charge or encumbrance upon any property of any Seller pursuant to any such
agreement or instrument.

 66
 

(5)           Authorization;
Consent.  No authorization,
consent, or approval, which has not been obtained, is required for the
execution and delivery by the Sellers of this Agreement or the performance of
their obligations hereunder other than the Consents.

(6)           Foreign Person and
Taxpayer ID Number.  No Seller or Beneficiary is a “foreign
person” as defined in Section 1445 of the Code; and each Seller’s and each
Beneficiary’s taxpayer identification number is accurately set forth as
follows:

	
  Seller

  	
   

  	
  Taxpayer ID#

  
	
   

  	
   

  	
   

  
	
  Tedeschi Realty Corporation

  	
   

  	
  04-2208470

  
	
  Eastway Plaza LLC

  	
   

  	
  04-3445320

  
	
  Beta Properties LLC

  	
   

  	
  04-2662958

  
	
  Kingsbury Square LLC

  	
   

  	
  04-2662503

  
	
  T.D. Mansfield Associates LLC

  	
   

  	
  04-3413662

  
	
  Meriden Realty LLC

  	
   

  	
  04-3498884

  
	
  Middleboro Associates LLC

  	
   

  	
  04-2851358

  
	
  Cove Road LLC

  	
   

  	
  04-3567171

  
	
  Tedeschi Norwell LLC

  	
   

  	
  04-3525745

  
	
  Tedeschi Darman Company LLC

  	
   

  	
  04-2512638

  
	
  T. Delta Weymouth LLC

  	
   

  	
  04-2827425

  
	
  Bedford & School LLC

  	
   

  	
  56-2299951

  
	
  Hanwell Associates LLP

  	
   

  	
  04-2815973

  
	
  Sandwich Associates

  	
   

  	
  04-2633494

  
	
  Skaket Associates

  	
   

  	
  04-2757400

  
	
  Whitman Associates

  	
   

  	
  04-2583028

  

 

(7)           Bankruptcy, Etc.  No voluntary bankruptcy, insolvency,
rearrangement or similar action in which any Seller or any Beneficiary is the
subject is currently pending or contemplated by any Seller or Beneficiary.  No involuntary bankruptcy, insolvency,
rearrangement or similar action in which any Seller or Beneficiary is the
subject is pending or threatened.  The
consummation of the transaction contemplated by this Agreement will not render
any of the Sellers insolvent and, following such consummation, each Seller will
continue to be able to pay its debts as they become due and will have
sufficient funds and capital to carry on its business.

(8)           ERISA.  None of the Sellers is acting on behalf of (i) an “employee benefit plan” within the meaning of
Section 3(3) of the Employee Retirement Income Security Act of 1974, as
amended, (ii) a “plan” within the meaning of
Section 4975 of the Code or (iii) an
entity deemed to hold “plan assets” within the meaning of 29 C.F.R. §2510.3-101
of any such employee benefit plan or plans.

(9)           Patriot Act.  The Sellers are in compliance with the
requirements of the Orders.  Neither any
Seller nor, to Sellers’ knowledge, any Beneficial Owner is:

(i)            a Specially Designated National or Blocked
Person or identified on any of the Lists;

 67
 

(ii)           a Person who has been determined by
competent authority to be subject to the prohibitions contained in the Orders;
or

(iii)         owned or controlled, directly or indirectly,
by, or acts for or on behalf of, any Person on the Lists or any other Person
who has been determined by competent authority to be subject to the
prohibitions contained in the Orders.

(10)         Employees.  None of the Sellers, other than Tedeschi
Realty, employs any employees.  None of
Tedeschi Realty’s employees are employed directly at any Property.

(b)           Hanover Unit Owners’
Association.  The current members
of the Hanover Board of Managers are Timothy N. Tedeschi and Wendy R.
Fryefield.  Wendy R. Fryefield is not an
officer, employee, affiliate or designee of Tedeschi Realty.  The Hanover Officers are Timothy N. Tedeschi,
Chairperson, Peter C. Zona, Treasurer and Eugene V. Blanchard, Secretary.

(c)           Property Matters.

(1)           Title.  The Sellers are the sole owners and have good
and marketable title (fee simple title in the case of the Properties) to all of
the Assets.  The owner of each Property
is listed on EXHIBIT A-2
attached hereto.  At the Closing, subject
to the provisions of Article 6,
Section 10.2 and Section 10.3, the Sellers
shall convey and the Purchaser shall acquire (i)
good and marketable fee title to the Properties, in each instance free and
clear of any Encumbrances other than the Permitted Exceptions, (ii) good and valid title to each Seller’s interest in any
Personal Property and Intangible Property, in each instance, free and clear of
any Encumbrance other than the Permitted Exceptions, (iii)
the lessor’s interest in all of the Lease Documents, free and clear of any
Encumbrance other than Permitted Exceptions, (iv) to
the extent that the Harwich Loan is assumed by the Purchaser, all of Tedeschi
Realty’s right, title and interest under the Harwich Loan Documents, free and
clear of any Encumbrance other than the Permitted Exceptions, (v) to the extent that the New Bedford Loan is assumed by
the Purchaser, all of Cove Road’s right, title and interest under the New
Bedford Loan Documents, free and clear of any Encumbrance other than the
Permitted Exceptions, and (vi) to the
extent that the Norwell Loan is assumed by the Purchaser, all of
Tedeschi-Norwell’s right, title and interest under the Norwell Loan Documents,
free and clear of any Encumbrance, other than the Permitted Exceptions.  To the Sellers’ knowledge, none of the
Properties is subject to existing rights and obligations in party walls which
are not the subject of a written agreement.

(2)           Notice of Defects,
Etc.  The Sellers have not
received any notice (i) alleging
any default, violation, delinquency or deficiency in payment under any
insurance policy, which default, violation, delinquency or deficiency has not
been cured or waived or (ii)
terminating any insurance policy relating to any of the Properties, which
insurance policy has not been replaced, (iii) alleging
any violation of or under any Legal Requirement or Permit relating to any
Asset, which violation has not been cured or (iv)
alleging that a default exists under any of the Permitted Exceptions, which
default has not been cured or waived.

(3)           Permits.  To the best of Sellers’ knowledge, the
Sellers do not hold nor are subject to any Permits, other than such Permits as
have been issued (a) in connection with the
construction or occupancy of any Improvements included within the definition of
the Properties or (b) in the
ordinary course of and as a consequence of the ownership of any of the
Properties.

 68
 

(4)           Unrecorded or
Equitable Interests.  To the best
of Sellers’ knowledge, there are no unrecorded or undisclosed legal or
equitable ownership (as opposed to leasehold) interests in any of the Assets or
rights to enter into any lease in any of the Assets owned or claimed by any
party other than the Sellers.

(5)           Casualty.  To the best of the Sellers’ knowledge, no
casualty has occurred with respect to any of the Properties causing any damage
to such Property which has not been repaired and for which any insurance claims
have not been fully resolved.

(6)           Condemnation.  To the best of the Sellers’ knowledge, there
are no condemnation proceedings pending, proposed or threatened as of the date
hereof against any of the Properties.

(7)           Leases and
Recognized Subleases.  The Leases
and the Nondisturbance Agreements are the only leases or other agreements to
which any Seller is a party (or by which any Seller or any Seller’s interest in
any Property may be bound by) granting occupancy, license or other use rights
affecting any of the Properties.  The
Nondisturbance Agreements that any Seller is a party to or may be bound by are
identified on EXHIBIT U attached
hereto.  The Recognized Subleases are
identified on EXHIBIT V attached
hereto.

(8)           Rights of First
Refusal, Options to Purchase and other Contracts of Sale.  Other than (i)
this Agreement and (ii) the Option
Leases, the Sellers are not party to any agreement of any kind or nature
whatsoever to sell any portion of the Assets (including, without limitation,
any right of first refusal or purchase option).

(9)           Property Tax
Proceedings; Pending or Threatened Actions.  To the best of the Sellers’ knowledge, (i) all of the pending Property Tax Proceedings are
identified on EXHIBIT W-1
attached hereto, (ii) except (x)
with respect to the pending Property Tax Proceedings disclosed on EXHIBIT W-1 and (y) as disclosed on EXHIBIT W-2
attached hereto, there is no action, suit or proceeding pending or threatened
as of the date hereof (including, without limitation any bankruptcy,
insolvency, rearrangement or similar proceedings) against or affecting any of
the Assets that is material or is not covered by insurance.

(10)         Financing Documents.  The Harwich Loan Documents listed on EXHIBIT X attached hereto
contain all of the material obligations of Tedeschi Realty with respect to the
Harwich Loan and create all of the Encumbrances held by Hancock to secure the
Harwich Loan.  The New Bedford Loan
Documents listed on EXHIBIT Y
attached hereto contain all of the material obligations of Cove Road with
respect to the New Bedford Loan and create all of the Encumbrances held by
Hancock to secure the New Bedford Loan. 
The Norwell Loan Documents listed on EXHIBIT Z
attached hereto contain all of the material obligations of Tedeschi-Norwell
with respect to the Norwell Loan and create all of the Encumbrances held by
Hancock to secure the Norwell Loan. 
Except as disclosed on EXHIBIT AA,
no notice of default been sent or received by Tedeschi Realty relating to any
default under the Harwich Loan Documents which remains uncured or has not been
waived in writing, and to the best of Tedeschi Realty’s knowledge, there is no
default now existing under any of the Harwich Loan Documents.  To the best of the Tedeschi Realty’s
knowledge, the outstanding principal balance of the Harwich Loan, as of May 1,
2007, is SEVEN MILLION THREE HUNDRED SEVENTY-TWO THOUSAND
EIGHT HUNDRED THIRTY-THREE AND 40/1000 DOLLARS ($7,372,833.40) and
interest on the Harwich Loan has been paid through April 30, 2007.  

 69
 

Except as disclosed on EXHIBIT
AA, no notice of default has been sent or received by Cove Road
relating to any default under the New Bedford Loan Documents which remains
uncured or which has not been waived in writing and to the best of Cove Road’s
knowledge, there is no default now existing under any of the New Bedford Loan
Documents.  To the best of Cove Road’s
knowledge, the outstanding principal balance of the New Bedford Loan, as of May
1, 2007, is NINE MILLION NINE HUNDRED TWENTY-SIX THOUSAND
NINE HUNDRED SIX AND 81/1000 DOLLARS ($9,926,906.81) and interest on
the New Bedford Loan has been paid through April 30, 2007.  Except as disclosed on EXHIBIT
AA, no notice of default has been sent or received by Tedeschi-Norwell
relating to any default under the Norwell Loan Documents which remains uncured
or which has not been waived in writing and to the best of Tedeschi-Norwell’s
knowledge, there is no default now existing under any of the Norwell Loan
Documents.  To the best of
Tedeschi-Norwell’s knowledge, the outstanding principal balance of the Norwell
Loan, as of May 1, 2007, is EIGHT MILLION SEVEN
HUNDRED THIRTY THOUSAND SIX AND 03/1000 DOLLARS ($8,730,006.03) and
interest on the Norwell Loan has been paid through April 30, 2007.  There are no tax or insurance reserves or
other escrow amounts currently being held by Hancock under any of the Financing
Documents.

(11)         Property Management
Agreements.  There are no property management
contracts in effect relating to any of the Properties other than the Tedeschi
Realty Contracts.

(12)         Financial Information.  The Financial Statements delivered to the
Purchaser as part of the Due Diligence Materials are true, correct and complete
in all material respects as of the date thereof and were prepared on a basis
consistent with past practice.  As of the
Effective Date, has been no material adverse change in the operations of the
Properties since the date of the most recent Financial Statements.

(13)         Hazardous Materials.
 None of the Sellers has received any
notice from any Person alleging that any Seller and/or any Property is not in
full compliance with Environmental Laws that has not been resolved to the
satisfaction of the Person that made any such allegation.  The Sellers have not received any notice of
any Environmental Claim pertaining to any Property that is pending and the
Sellers are not aware of any threatened Environmental Claim pertaining to any
Property.  To the actual knowledge of the
Sellers (with the Sellers’ due inquiry being limited to the Sellers’ review of
the Environmental Reports), except as may be set forth in the Environmental
Reports, there are no Hazardous Materials present on or under any of the
Properties in violation of any Environmental Laws.

(14)         Taxes and Special
Assessments.  The Sellers have
not submitted, and have no knowledge that any other Person has submitted, an
application for (i) the creation of any special
taxing district affecting any Property or (ii) the
annexation or inclusion of any Property into any special taxing district.

(15)         No Contractual or
Donative Commitments.  Except as
may be disclosed in the Governmental Commitments, no contractual or donative
commitments relating to any Property that are currently outstanding (or unfulfilled)
have been made by, for or on behalf of any Seller to any Governmental
Authority, quasi-governmental authority, utility company, community
association, homeowners’ association or to any other organization, group, or
other Person that would impose any obligation upon the Purchaser to make any
contribution or dedication of money or land, or to construct, install or
maintain any improvements of a public or private nature on or off any Property.

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(d)           Lease Documents.

(1)           Lease Documents.  The Lease Documents listed on the Lease
Documents Schedule (i) contain all
material obligations of (x) the Tenants
(or any other parties) to the Sellers with respect to the transactions
contemplated by the Leases and (y) the Sellers
to the Tenants (or any other parties) with respect to the transactions
contemplated by the Leases and (ii) create all
of the Encumbrances held by the Sellers to secure the obligations of the
Tenants under the Leases.  The rent due
and payable per annum currently payable under the Leases is set forth on the
rent roll for the Properties (the “Rent Roll”)
attached hereto as EXHIBIT BB.  Except as disclosed in the Reimbursement
Agreements or as set forth on the Lease Document Schedule, the Sellers have not
entered into any express written agreement waiving, in any material respect,
any material obligation of any Tenant or any Guarantor under any of the Lease
Documents that would pertain to any period from and after the Effective
Date.  The Lease Documents listed on the
Lease Documents Schedule have not been modified or amended except as expressly
set forth on the Lease Documents Schedule. 
True, correct and complete copies of the Lease Documents have been made
available to the Purchaser for its review prior to the Effective Date.  As of the Effective Date, no rent under any
of the Leases has been paid in advance other than as set forth on the Rent
Roll.  Except as disclosed in any of the
Lease Documents listed on the Lease Document Schedule or the Reimbursement
Agreements, none of the Tenants has been given any free rent, partial rent,
rebates, rent abatements or rent concessions of any kind (including, without
limitation, any waiver of any such Tenant’s agreement to fulfill its payment
obligations under its Lease) that would pertain to any period from and after
the Closing Date.  The Rent Roll and the
Security Deposit List attached hereto, and the updated Rent Roll and the
Security Deposit List to be delivered at the Closing, are and will be true and
correct in all material respects.

(2)           Lease Documents
Defaults.  EXHIBIT CC
attached hereto lists all monetary defaults existing under any of the Lease
Documents as of May 31, 2007.  None of
the Sellers has given or received any written notice claiming the existence of
any default under any Lease Document which remains uncured.

(3)           Collateral.  All of the Security Deposits currently held
by the Sellers are listed on EXHIBIT DD
attached hereto (the “Security Deposit List”).  The Sellers are not currently holding any
Collateral other than the Security Deposits listed on EXHIBIT DD
attached hereto.

(4)           Leasing Commissions;
Tenant Improvements and Funding. 
Except as disclosed on EXHIBIT EE,
no leasing or brokerage commission or finders fee is owed or payable by any
Seller in connection with any Lease nor will any leasing or brokerage
commission be due or payable by any Seller or any future owner of any Property
in connection with the exercise of any renewal or expansion option currently
set forth in any Lease (except for commission arrangements agreed to at the time
of the exercise of such renewal or expansion). 
Except as disclosed on EXHIBIT EE,
no tenant improvement allowance or other funding, or tenant improvement or
construction obligation, is owed by any Seller to any Tenant or any other
Person under any of the Lease Documents.

(5)           Contracts.  The list of Contracts set forth on EXHIBIT G is a true, correct
and complete list of all service, supply, repair and maintenance agreements
pertaining to the Properties (excluding, to the extent applicable, the Lease Documents,
the Nondisturbance Agreements, the Permitted Exceptions and the Tedeschi Realty
Contracts) that the Sellers are 

 71
 

bound by as of the Effective Date. 
There are no equipment leases in effect relating to any of the Sellers’
interests in the Assets.  To the Sellers’
knowledge, (i) no party is
in default of any of its obligations under any of the Contracts and (ii) there is no event which with the giving of notice or
passage of time, or both, would be a default thereunder.  Without limiting the foregoing, no Seller has
received any notice from any Person claiming that such Seller is in default of
its obligations under any of the Contracts, or otherwise asserting any
defenses, offsets or disputes thereunder.

(e)           Copies Complete.  To the best of the Sellers’ knowledge, all
copies of any Due Diligence Materials delivered or made available by the
Sellers or the Seller Parties pursuant to this Agreement are true, correct and
complete copies of all such materials that constitute Due Diligence Materials
that are in the possession or reasonable control of the Sellers or the Seller
Parties.  Without limiting the foregoing,
the Sellers represent and warrant that true, correct and complete copies of (i) the Lease Documents are included in the Due Diligence
Materials and (ii) the Plans have been made
available to the Purchaser.  Except as
otherwise expressly provided in the immediately preceding sentences and in the
other Express Representations and Warranties, the Sellers make no representation
or warranty whatsoever concerning the truth, accuracy or completeness of any of
the Due Diligence Materials (i.e., whether (x) any
material fact or statement is omitted therefrom which would be necessary in
order to prevent the statements contained therein from being misleading or (y) such materials, if prepared by any party other than the
Sellers or the Seller Parties, are in and of themselves complete).

Section
7.3.           Sellers’
Knowledge; Purchaser’s Knowledge. 
Whenever a representation is qualified by the phrase “to the best of
Sellers’ knowledge”, “to the best of any Seller’s knowledge” or by words of
similar import, the accuracy of such representation shall be based solely on
the actual (as opposed to constructive or imputed) knowledge of Terrence C.
Tedeschi, Peter C. Zona, John Whalen, John McWeeney and Henry Stone with due
inquiry (provided, that, such due inquiry shall not be deemed to
require the Sellers to (a) make
specific inquiry of any Tenant, any Guarantor, any insurance company, any
Governmental Authority and/or any of the other Seller Parties, (b) make any search of any public records
or (c) investigate any of the
Properties).  Notwithstanding anything to
contrary set forth herein, (i)
prior to the execution and delivery of this Agreement, the Sellers did not make
any independent review or investigation of any public records relating to any
Tenant or any Guarantor and/or any public filings made by any Tenant or any
Guarantor (including, without limitation, copies of any public filings that may
have been delivered to any of the Sellers by any Tenant or any Guarantor or
otherwise obtained by Sellers) and (ii)
the Purchaser acknowledges that the Sellers had no obligation to review any
such public records and/or public filings and in no event shall the Sellers be
imputed to have any knowledge of the information set forth therein.  Whenever a representation is qualified by the
phrase “to the best of the Purchaser’s knowledge”, or by words of similar
import, the accuracy of such representation shall be based solely on the actual
(as opposed to constructive or imputed) knowledge of Greg Moran with due
inquiry.

Section
7.4.           Recording
Information.  The Sellers make no
representation or warranty regarding the accuracy or completeness of any
recording information included on any Exhibit to this Agreement.

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ARTICLE 8

Closing

Section
8.1.           Closing.  The Closing shall occur at noon East Coast
time on the Closing Date at the offices of Nutter, McClennen & Fish, LLP,
World Trade Center West, 155 Seaport Boulevard, Boston, Massachusetts or, at
the Purchaser’s option (exercisable upon written notice to the Sellers) at such
other place as is designated by the Purchaser, or at such other place as is
otherwise agreed to in writing by the parties hereto.  In the event that the Purchaser requests that
the Closing Date be accelerated, the Sellers shall use reasonable efforts to
attempt to accommodate such request.

Section
8.2.           Sellers’
Deliveries.  At the Closing,
subject to the provisions of Article 6
, Section 10.2 and Section 10.3, the Sellers shall
deliver or cause to be delivered to the Escrow Agent, at the Sellers’ sole
expense, each of the following items (and such delivery shall be deemed
satisfied if the Sellers shall have delivered such items to the Escrow Agent at
or before the Closing with escrow instructions satisfactory to the Purchaser
and the Escrow Agent in their reasonable discretion):

(a)           A Deed for the
Hanover Condominium Units (conforming to the requirements of Massachusetts
General Laws Chapter 183A) and for each Land Parcel (other than the Hanover
Land), in each instance executed by the applicable Seller that is the owner
thereof.

(b)           A Bill of Sale
executed by each Seller.

(c)           An Assignment and
Assumption of Lease Documents for each Property executed by the applicable
Seller that is the owner thereof and the holder of the landlord’s interest
under the applicable Lease Documents encumbering such Property.

(d)           An Assignment and
Assumption of Permits, Contracts and Claims executed by each Seller.

(e)           A Harwich Escrow
Assignment executed by Tedeschi Realty and the Harwich Escrow Notice executed
by Tedeschi Realty.

(f)            A Notice to Tenant
for each Tenant and a Notice to Subtenant for each Recognized Subtenant, in
each instance, executed by the Seller that owns the applicable Property that is
encumbered by the applicable Lease or Recognized Sublease.

(g)           Subject to Section 10.2, unless the
Harwich Loan is prepaid, the Harwich Consents and the Harwich Loan Assignment
and Assumption Documents executed by Tedeschi Realty.

(h)           Subject to Section 10.2, unless the New
Bedford Loan is prepaid, the New Bedford Consents and the New Bedford Loan
Assignment and Assumption Documents executed by Cove Road.

(i)            Subject to Section 10.2, unless the
Norwell Loan is prepaid, the Norwell Consents and the Norwell Loan Assignment
and Assumption Documents executed by Tedeschi-Norwell.

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(j)            The 6(d)
Certificate and the Resignations.

(k)           All keys, if any,
in the Sellers’ possession or control to all locks on the Improvements.

(l)            A non-foreign
person affidavit sworn to by each Seller (other than the Seller Nominee Trusts)
and the Beneficiaries as required by Section 1445 of the Code.

(m)          Such evidence or
documents as may be reasonably required by the Title Company (x) in order to delete pre-printed exceptions relating to: (i) mechanics’ or materialmen’s liens (other than Mechanics’
Liens) and (ii) the legal existence and good
standing of the Sellers and the legal existence, good standing and authority of
the Persons who are executing the various documents on behalf of the Sellers in
connection with the sale of the Assets and (y) to
provide so-called gap coverage from the latest effective date of the Title
Commitments as to all Encumbrances other than Permitted Exceptions; provided,
however, that notwithstanding the foregoing, in no event shall
the Sellers shall be obligated to provide any form of representation or
indemnification to the Title Company other than as hereinafter expressly set
forth in clauses (1) through (9) of this Section 8.2(m);
provided, further,  that, subject
to Section 3.4(j) and Section 8.4(k), the Sellers
shall provide to the Title Company (1) copies
of each Seller’s organizational documents, (2) evidence of
each Seller’s authority to execute and deliver the Sellers’ Documents to which
such Seller is a party, (3) to the
extent applicable, evidence of each Seller’s qualification to do business in
the applicable states where the Properties that it owns are located, (4) certificates of legal existence and good standing
relating to each Seller from the state of such Seller’s formation and, to the
extent applicable, certificates of good standing relating to such Seller from
the states where the Properties that it owns are located, (5)
evidence of the clearance of any lien encumbering any Property that does not
constitute a Permitted Exception, (6) an
affidavit that none of the Sellers or the Beneficiaries is a “foreign person”
as defined in Section 1445(f)(3) of the Code, (7)
an affidavit identifying all Leases, Recognized Subleases and Nondisturbance Agreements
affecting the Properties, (8) an
affidavit certifying that none of the Sellers has entered into any contract for
the furnishing of any labor, services or materials in connection with the
construction or repair of any Property under which any amounts remain unpaid
and (9) an affidavit that none of the
Sellers has executed and delivered any Encumbrance since the latest effective
date of the Title Commitments.

(n)           All Permits, Plans,
guaranties and warranties, if any, relating to the Properties and in the
Sellers’ possession or control.

(o)           The Closing
Statement executed by the Sellers.

(p)           Such additional
documents to be executed by the Sellers as may be reasonably requested by the
Purchaser in order to effectuate the transaction contemplated hereby (including,
without limitation, any other documents required under applicable Legal
Requirements to convey the Assets to the Purchaser or to record any Deed or any
other conveyancing document).

(q)           Originals of the
Financing Documents (to the extent assumed by the Purchaser and other than any
promissory notes), Lease Documents and the Contracts.

(r)           To the extent not
previously delivered or made available to the Purchaser as part of the Due
Diligence Materials, the Tenant Files.

 74
 

(s)           The Sellers’
Closing Certification (including, an updated Rent Roll) and Security Deposit
List, certifying that, subject to Section 7.2,
all of the representations and warranties made by the Sellers in this Agreement
are true and correct as of the Closing Date.

(t)            A certification
executed by the Sellers of the information necessary to complete and file with
the Internal Revenue Service a Form 1099-S in connection with the conveyance of
the Properties.

(u)           The matters
described in clauses (1) – (9) of Section 8.2(m).

(v)            The Umbrella
Guaranty executed by the Umbrella Guarantor.

(w)           A Corporate Excise
Tax Lien Waiver Certificate relating to Tedeschi Realty issued by the
Massachusetts Department of Revenue.

(x)           A Rhode Island
residency affidavit executed by Tedeschi Realty attesting that no withholding
is due under Rhode Island General Laws §44-30-71.3 or evidence of compliance
with such withholding requirements.

(y)           To the extent
requested by the Purchaser, an assignment of declarant’s rights, if any, under
the Hanover Condominium Documents, executed by Tedeschi Realty, in form and
substance mutually acceptable to Tedeschi Realty and the Purchaser.

Notwithstanding
anything to the contrary set forth herein, if the Sellers do not have in their
possession or control originals of any of the documents referenced in Section 8.2(q), the Sellers shall
satisfy their obligations hereunder by delivering true, correct and complete
copies of such items to the Purchaser.

Section
8.3.           Purchaser’s
Deliveries.  At the Closing, the
Purchaser shall deliver to the Escrow Agent the following items:

(a)           Immediately
available federal funds sufficient to pay the Purchase Price (less the Deposit
and the Aggregate Outstanding Assumed Indebtedness) and the Purchaser’s share
of all escrow costs and closing expenses.

(b)           An Assignment and
Assumption of Lease Documents for each Property, executed by the Purchaser.

(c)           An Assignment and
Assumption of Permits, Contracts and Claims executed by the Purchaser.

(d)           A Harwich Escrow
Assignment, executed by the Purchaser.

(e)           The Financing
Assignment and Assumption Documents, executed by the Purchaser.

(f)            The Closing
Statement, executed by the Purchaser.

(g)           Such additional
documents to be executed by the Purchaser as may be reasonably requested by the
Sellers in order to effectuate the transactions contemplated hereby.

 75
 

(h)           The Purchaser’s
Closing Certification, certifying that, subject to Section 7.1,
all of the representations and warranties made by the Purchaser in this
Agreement are true and correct as of the Closing Date.

(i)            A certification of
the information necessary to complete and file with the Internal Revenue
Service a Form 1099-S in connection with the conveyance of the Properties.

(j)            Copies of the
Purchaser’s organizational documents.

(k)           Evidence of the
Purchaser’s authority to execute and deliver the Purchaser’s Documents.

(l)            Certificates of
legal existence and good standing relating to the Purchaser from the state of
the Purchaser’s formation.

Section
8.4.           Costs
and Prorations.

(a)           General.  All items of accrued or prepaid income and
revenue customarily prorated upon the transfer of retail shopping centers,
including, without limitation, collected Rents for the then current period,
common area maintenance charges and expenses, utility charges, service charges,
tax charges, condominium common charges and assessments, if any, and all other
incidental expenses and charges paid by Tenants under the Leases, in each case
to the extent collected for the current period and any future periods, shall be
prorated and adjusted on an accrual basis as of the Closing Date on the basis
of the most recently ascertainable information in respect of each such item of
income or expense, and the net amount thereof shall be added to or subtracted
from the Purchase Price, as the case may be. 
For purposes of the prorations and adjustments to be made pursuant to
this Section 8.4, the Purchaser
shall be deemed to own each Property and therefore be entitled to any revenues
and be responsible for any expenses for the entire day upon which the Closing
is completed.  All prorations shall be
made on the basis of the actual number of days of the month which shall have
elapsed as of the Closing Date and based upon the actual number of days in that
month and a three hundred sixty-five (365) day year.  The Sellers and the Purchaser shall jointly
prepare a schedule of prorations and adjustments (the “Closing
Statement”) to be executed on the Closing Date.  The Sellers and the Purchaser shall endeavor
to prepare an initial draft of the Closing Statement at least three (3)
Business Day prior to the Closing Date, and, thereafter, shall endeavor to
finalize the Closing Statement as soon as is practically possible prior to the
consummation of the Closing.  In the event,
on the Closing Date, the precise figures necessary for any of the foregoing
adjustments are not capable of determination, then, those adjustments shall be
made on the basis of good faith estimates of the Sellers and the Purchaser
using currently available information and the amount of the adjustments and
prorations reflected in the Closing Statement shall be subject to further
adjustment in accordance with the terms of this Agreement as and when complete
and accurate information becomes available. 
Subject to Section 8.4(h)
and Section 8.4(i), the Sellers
and the Purchaser agree to cooperate and use their best efforts to make such
adjustments as soon as possible.  Any net
adjustment in favor of the Purchaser shall be credited against the Purchase
Price at the Closing.  Any net adjustment
in favor of the Sellers shall be paid (in immediately available federal funds)
at the Closing by the Purchaser.  A copy
of a Closing Statement agreed upon by the Sellers and the Purchaser shall be
executed by the Sellers and the Purchaser and delivered to the Escrow Agent at
the Closing.

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(b)           Real Estate Taxes
and Assessments.

(i)            Proration of Real
Estate Taxes at Closing.  All
Real Estate Taxes for the fiscal tax year in which the Closing occurs shall be
prorated and adjusted as of the Closing Date as an adjustment at Closing, which
adjustment shall be based on the then current tax bills.  Real Estate Taxes shall be adjusted as part
of the adjustment made for Property Expenses under Section 8.4(c)(iv).  Notwithstanding anything to the contrary set
forth herein, in no event shall there be any adjustment for Real Estate Taxes
relating to the Properties listed on EXHIBIT FF
attached hereto.

(ii)           Post-Closing
Supplemental Taxes.  In no event
shall the Sellers be charged with or responsible for any increase in Real Estate
Taxes resulting from any improvements made or Leases entered into on or after
the Closing.

(iii)         Post-Closing Refunds
of Taxes.  Any refunds of Real
Estate Taxes made after the Closing relating to any period prior to the Closing
Date shall be paid to (x) subject to
the terms of the applicable Lease Documents, the applicable Tenant that leases
the applicable Property, if such Real Estate Taxes were actually paid by such
Tenant (directly or as part of its Additional Rent payments under its Lease)
and (y) in all other instances, the
Purchaser.

(iv)          Pending Tax
Proceedings.  With respect to any
proceeding to determine (or appeal) the assessed value of any Property or the
Real Estate Taxes payable with respect to any Property (each a “Property Tax Proceeding”) for any
tax period occurring, in whole or in part, prior to the Closing Date that has
been commenced before the date hereof and shall be continuing as of the Closing
Date, (x) to the extent that such Property
Tax Proceeding has been brought in any Seller’s name, the applicable Seller
shall take such steps as the Purchaser reasonably requests to substitute the
Purchaser for the Seller in the proceeding so that the Purchaser may continue
to prosecute such Property Tax Proceeding, (y) the
Purchaser shall be entitled to any abatement proceeds therefrom minus
the aggregate amount of any applicable refunds due to the applicable Tenants
under the applicable Leases and (z) the Sellers
agree to cooperate with the Purchaser and to execute any and all documents reasonably
requested by the Purchaser in furtherance of the foregoing.  The Sellers represent that there are no
agreements between any Seller with any Person relating to the Property Tax
Proceedings pursuant to which any Seller agreed to pay any Person any contingency
or other fee based upon the result of the outcome of any Property Tax
Proceeding.

(c)           Rents and Other
Amounts Under Lease Documents.

(i)            Subject to the
provisions of Section 8.4(c)(iv) and Section 8.4 (c)(v), all
Minimum Rent and Additional Rent payable for a billing period which expires on
or prior to the Closing Date shall be the sole property of the Sellers, and the
Purchaser shall have no rights to said Minimum Rent and Additional Rent.  All Minimum Rent and Additional Rent payable
for a billing period commencing after the Closing Date shall be the sole
property of the Purchaser and the Sellers shall have no rights thereto.  All Minimum Rent and Additional Rent paid for
a billing period which includes the Closing Date (and thus incorporates time
periods both prior to and subsequent to the Closing Date) shall be prorated
based upon the ratio of that portion of the billing period which occurs prior
to the Closing Date (and thus the property of the Sellers) and that portion of
the billing period which occurs as of or subsequent to the Closing Date (and
thus the property of the Purchaser).  The
foregoing sentences are applicable regardless of whether 

 77
 

such Minimum Rent and Additional Rent were paid on a timely or
delinquent basis.  Except as expressly
set forth in Section 8.4(c)(iv),
no adjustment shall be made to the Purchase Price for any uncollected Minimum
or Additional Rent attributable to the period through the Closing Date.  Except as expressly set forth in Section 8.4(c)(vii), all
Minimum Rent and Additional Rent received in the month in which the Closing
occurs by either party with respect to any Lease shall be applied, first,
to all Minimum Rent and Additional Rent due in the month in which the Closing
occurs, second, to all Minimum Rent and Additional Rent due and owing
for the next succeeding month, and third, to all Minimum Rent and
Additional Rent past due as of the Closing Date.  Except as expressly set forth in Section 8.4(c)(vii), all
Minimum Rent and Additional Rent received after the month in which the Closing
occurs by either party with respect to any Lease shall be applied, first,
to all Minimum Rent and Additional Rent due and owing for the month in which
such Rents are paid and any month from the month following the Closing Date to
the month in which such Rents are paid, second, to all Minimum Rent and
Additional Rent due in the month in which the Closing occurs, and third,
to all Minimum Rent and Additional Rent past due as of the Closing Date.  All Minimum Rent and Additional Rent shall be
paid or shall be prorated between each Seller and the Purchaser, on a Property-by-Property
and Lease-by-Lease basis, in accordance with the provisions set forth in this Section 8.4.

(ii)           Minimum Rent
collected by the Sellers for the month of Closing shall be prorated on a per
diem basis in accordance with the applicable provisions of this Section 8.4(c).

(iii)         Percentage Rent for
the Closing Percentage Rent Year shall be adjusted only with respect to the
Leases identified on EXHIBIT GG
attached hereto (collectively, the “Percentage Rent Leases”)
and the Bobby Byrne’s (Sandwich) Lease, and there shall be no adjustment for
Percentage Rent for any other Leases in effect as of the Closing Date.  Percentage Rent for the Closing Percentage
Rent Year shall be adjusted for the Percentage Rent Leases and paid to Sellers
as follows.  The Adjusted Percentage Rent
Amount for each Percentage Rent Lease in effect as of the Closing Date shall be
deemed to be the amount of the Percentage Rent due under such Percentage Rent
Lease for the applicable Closing Percentage Rent Year (rather than the actual
Percentage Rent amount that would otherwise be computed following the end of
the Closing Percentage Rent Year) and is calculated and shown on EXHIBIT GG.  The Sellers shall be entitled to a portion of
the Adjusted Percentage Rent Amount for each applicable Percentage Rent Lease
determined by multiplying (x) an amount
equal to ninety percent (90%) the Adjusted Percentage Rent Amount by (y) a fraction, the numerator of which is the number of
days which elapsed between the commencement date of the applicable Closing
Percentage Rent Year for each Percentage Rent Lease and the Closing Date and
the denominator of which is 365.  In the event that any Seller has received any
payment of Percentage Rent under any Percentage Rent Lease for the applicable
Closing Percentage Rent Year that is in excess of the Seller’s share as
calculated as set forth above, the Purchaser shall be entitled to a credit to
the Purchase Price equal to any such excess. 
With respect to the Bobby Byrne’s (Sandwich) Lease, Percentage Rent
shall be adjusted solely for the month in which the Closing occurs and shall be
adjusted using a per diem amount equal to ONE HUNDRED AND 27/100
DOLLARS ($100.27).

(iv)          The Sellers shall
pay all costs and expenses (including, without limitation, Sellers’ Utilities)
incurred in the ownership, maintenance and operation of the Properties
(collectively, the “Property Expenses”)
prior to the Closing Date, including any such Property Expenses which are
billed after the Closing Date, but which are attributable to periods prior to 

 78
 

the Closing Date.  The Purchaser
shall pay all Property Expenses which are incurred or which accrue on or after
the Closing Date.  By the Closing, the
Sellers shall estimate whether the actual Property Expenses (which shall
include, without limitation, all administrative fees permitted under the
Leases) for calendar year 2007 through the Closing Date (collectively, the “Estimated Expenses”) exceed or are
less than the CAM and Real Estate Tax Payments that were made by Tenants with
respect thereto; it being acknowledged and agreed that the Sellers shall be
responsible for the following costs (collectively, the “Sellers’
Share of the Property Expenses”): (i)
the Property Expenses attributable or allocable to any vacant space identified
on EXHIBIT HH attached hereto
(the “Vacant Space”), (ii) the Property Expenses payable by the landlords
under the Leases identified on EXHIBIT II
attached hereto (collectively, the “Gross Leases”),
(iii) any portion of any outstanding
betterments allocable to any period prior to the Closing Date that are not
payable by Tenants and (iv) any of the
Sellers’ Utilities that are not payable by Tenants under the Leases.  In the event that the Estimated Expenses minus
the Sellers’ Share of the Property Expenses exceeds the CAM and Real Estate Tax
Payments made by the Tenants, the Sellers shall receive a tentative credit to
the Purchase Price at the Closing in an amount equal to such excess.  If the Estimated Expenses are less than the
sum of the CAM and Real Estate Tax Payments made by the Tenants plus the
Sellers’ Share of the Property Expenses, the Purchaser shall receive a
tentative credit in the amount of the shortfall at Closing.  The Sellers shall provide the Purchaser with
all back-up information necessary to determine the Estimated Expenses.

(v)            Any uncollected
Minimum Rent payable for any period prior to the Closing Date that is collected
by the Purchaser after the Closing Date shall be promptly remitted by the
Purchaser to the Sellers (and in no event later than thirty (30) days after
receipt thereof by the Purchaser in accordance with the terms and conditions of
Section 8.4(c)(i) or 8.4(c)(vii) as
applicable).  From and after the consummation
of the Closing until December 1, 2007, the Purchaser shall include the
amount of such Minimum Rent in the bills thereafter submitted to the Tenants
owing such delinquent amounts.  The
Purchaser shall use commercially reasonable efforts to collect delinquent
Minimum Rent, provided, however, the Purchaser shall not be
obligated to incur any expense in connection with such collections and shall
have no liability to the Sellers for any failure to collect any Rent due with
respect to any period prior to the Closing Date.  The Purchaser shall not be obligated to
commence a lawsuit to collect any such sums or to evict any Tenant for the
failure to pay any such sums.  In no event
shall the Sellers have any right to take any action to collect any delinquent
Rents following the consummation of the Closing.  The Purchaser shall not waive or settle any
claims with respect to any such amounts relating to the period prior to the
Closing Date in whole or in part without the prior written consent of the
Sellers, subject to the provisions of this Section 8.4(c).  Notwithstanding anything to the contrary set
forth herein, any Minimum Rent that is delinquent as of the Closing Date and is
not collected on or before December 1, 2007 shall become the sole property
of the Purchaser, so long as the Purchaser uses commercially reasonable efforts
to collect such Minimum Rent on behalf of the Sellers in accordance with the
provisions of this Section 8.4(c).

(vi)          To the extent not
included in the adjustments made for Property Expenses pursuant to Section 8.4(c)(iv) all prepaid
Rents, Security Deposits and other deposits (including, without limitation,
with regard to each of the foregoing, any unpaid interest thereon), if any,
held or required to be held by the Sellers under the Lease Documents (unless
such amounts were applied by the Sellers, in accordance with the terms of the
applicable Lease Documents and, from and after the Effective Date, the terms of
this Agreement toward any of the obligations 

 79
 

under any of the Lease Documents under any of the Leases) shall be paid
to the Purchaser or credited against the Purchase Price.

(vii)         Notwithstanding
anything in Section 8.4(c)(i) to the
contrary, but solely as it relates to rents from Major Tenants, no prorations
shall be made in relation to either (A) non-delinquent Minimum Rents and
Additional Rents which have not been collected as of the Closing Date, or (B)
delinquent Minimum Rents and Additional Rents existing, if any, as of the
Closing Date (the foregoing (A) and (B) referred to herein as the “Uncollected Major Tenant Rents”).  In adjusting for Uncollected Major Tenant
Rents, no adjustments shall be made in the Sellers’ favor for rents which have
accrued and are unpaid as of the Closing, but the Purchaser shall pay Seller such
accrued Uncollected Major Tenant Rents in accordance with this Section 8.4(c)(vii).  Any Uncollected Major Tenant Rents payable
for any period prior to the Closing Date that is collected by the Purchaser
after the Closing Date shall be promptly remitted by the Purchaser to the
Sellers (and in no event later than thirty (30) days after receipt thereof by
the Purchaser) after first applying such collected Uncollected Major Tenant
Rents in accordance with the immediately succeeding sentence.  The Purchaser’s collection of Uncollected
Major Tenant Rents, if at all, shall be applied, first, to Purchaser’s
actual out-of-pocket costs of collection incurred with respect to such Major
Tenant, second, towards current rent due and owing under the Major
Tenant’s Lease and third, any other rents attributable to any period
after the Closing which are past due on the date of receipt.

(d)           Utilities and
Operating Expenses.  The Sellers
shall endeavor to cause all meters for electricity, gas, water, sewer or other
utility usage at the Properties that are not in the name of any Tenant
(collectively, the “Sellers’ Utilities”)
to be read, after the Effective Date and prior to the Closing Date.  If the utility companies are unable or refuse
to read the meters prior to the Closing Date, all charges for the Sellers’
Utilities that are included in the Estimated Expenses shall be prorated and
adjusted as of the date of the most recent bill prior to the Closing Date
pursuant to Section 8.4(c)(iv).  The Sellers shall provide notice to the
Purchaser three (3) Business Days prior to the Closing Date setting forth (i) whether utility meters were read after the Effective
Date and (ii) a copy of the most recent bills
for the Sellers’ Utilities which are to be included in the Estimated Expenses.  To the extent that the amount of such bills
prove to be more or less than the actual Sellers’ Utilities for the period in
question, a further adjustment shall be made after the Closing Date as soon as
the actual charges for such utilities are available.  The Sellers shall endeavor to obtain final
utility bills prior to the Closing with respect to water and sewer
charges.  To the extent that any final
utility bills are issued subsequent to the Closing which cover any period prior
to the Closing Date, the Sellers shall be responsible for those costs prorated
through the date prior to the Closing that are not payable by Tenants under
their Leases.

(e)           Contracts.  To the extent not included in the adjustments
made for Property Expenses pursuant to Section 8.4(c)(iv),
amounts due and prepayments, if any, under the Contracts shall be prorated on a
per diem basis at the Closing.

(f)            Insurance.  Without limiting the provisions of Section 8.4(c)(iv), there
shall be no proration of any Seller’s insurance premiums or an assignment of
any Seller’s insurance policies.  Except
as otherwise expressly set forth in Article 6,
the Purchaser shall have no interest in or be deemed a beneficiary under any
Seller’s insurance policies.

(g)           Reimbursement for
Certain Other Costs.  The owners
of the Middleboro Property, the Rockland (Market Street Property), the Sandwich
Property and the Whitman (Food 

 80
 

Master Plaza) Property incurred certain costs for paving and septic
repairs relating to those Properties. 
The Tenants of those Properties that are identified on EXHIBIT L attached hereto are
paying their proportionate share of such costs (collectively, the “Tenants’ Costs”) as indicated on EXHIBIT L through the dates
identified thereon.  Each of such Tenants
either had the right under their Leases or the applicable Sellers offered such
Tenants the option (which such Tenants elected) to pay the amount of their
share of the Tenants’ Costs over a specific period of time with no interest
charges relating thereto (such agreements to pay such Tenants’ Costs over such
period of time are collectively referred to herein as the “Reimbursement
Agreements”).  At the
Closing, an adjustment to the Purchase Price shall be made in favor of the
Sellers in an amount equal to TWO HUNDRED SIX THOUSAND
FIVE HUNDRED SIXTY-EIGHT DOLLARS ($206,568).

(h)           Interim Closing
Adjustment.  Within sixty (60)
days following the Closing Date, the Sellers and the Purchaser shall
recalculate the adjustments and prorations provided for in this Section 8.4 (the “Interim Closing Adjustment”) and
the party receiving the benefit of the recalculation shall receive a payment in
immediately available funds from the other party within ten (10) days after the
Interim Closing Adjustment is finalized.

(i)            Final Closing
Adjustment.  On December 1, 2007,
the Sellers and the Purchaser shall make a final adjustment to the prorations
made at the Closing (the “Final Closing Adjustment”).  The Final Closing Adjustment shall be made in
the following manner:

(1)           General.  All adjustments or prorations which could not
be determined at the Closing or the Interim Closing Adjustment because of the
lack of actual statements, bills or invoices for the current period or any
other reason shall be made as a part of the Final Closing Adjustment.  Any net adjustment in favor of the Purchaser
for any Property shall be paid by the Sellers (in immediately available federal
funds) to the Purchaser no later than ten (10) days after the Final Closing
Adjustment.  Any net adjustment in favor
of any Seller shall be paid (in immediately available federal funds) by the
Purchaser to such Seller no later than ten (10) days after the Final Closing
Adjustment.

(2)           No Further
Adjustments.  The Final Closing
Adjustment shall be conclusive and binding upon the Sellers and the Purchaser
and, absent manifest error or bad faith, the Sellers and the Purchaser hereby
waive any right to contest after the Final Closing Adjustment any prorations,
apportionment or adjustments to be made pursuant to this Section.

(3)           Records.  The Purchaser and the Sellers shall make
available to each other upon request their respective records regarding all
items of income and expense relating to the period of their ownership to the
extent necessary to make the Interim Closing Adjustment and the Final Closing
Adjustment.  Without limiting the
foregoing, the Sellers shall provide the Purchaser with all back up information
necessary to determine the actual Property Expenses incurred by the Sellers in
calendar year 2007 through and including the Closing Date.

(j)            Closing Costs.  The Purchaser and the Sellers shall each pay
their own legal fees related to the preparation of this Agreement and all
documents required to settle the transaction contemplated hereby.  The Sellers shall pay all transfer taxes and
documentary stamp charges.  The Purchaser
shall pay all (i) recording costs other than the
costs to record any title clearing instruments and (ii)
costs associated with its due diligence, including, without limitation, the
cost of appraisals, architectural, engineering, credit and environmental
reports, title updates, survey 

 81
 

updates, title insurance policies and search fees.  At the Closing, the Purchaser shall also
reimburse the Sellers for all out-of-pocket expenses incurred by the Sellers to
obtain the Title Commitments (including, without limitation, all title
examination, search, copying and other fees), the Existing Surveys and the
Environmental Reports (collectively, the “Reimbursable Due Diligence Costs”);
provided, however, in no event shall the Reimbursable Due
Diligence Costs exceed TWO HUNDRED NINETY-ONE
THOUSAND TWO HUNDRED TWENTY-THREE DOLLARS ($291,223).  The Reimbursable Due Diligence Costs incurred
by the Sellers as of the date hereof are identified on EXHIBIT JJ
attached hereto.

(k)           Use of Money to
Clear Title.  To enable the
Sellers to convey title as herein provided, on the Closing Date, the Sellers
may use the Purchase Price or any portion thereof to clear title provided that
all instruments evidencing the clearing thereof are delivered at Closing except
that, in the case of a mortgage held by an institutional lender and provided
that the Title Company accepts the same in lieu of an actual discharge or lien
release, the Sellers may deliver a “pay-off” letter satisfactory to the Title
Company and the Title Company shall promptly thereafter obtain and record a
discharge.

(l)            Survival.  The provisions of this Section 8.4
shall survive the Closing.

ARTICLE 9

Broker’s Commission

Section
9.1.           Indemnity.  Sellers have engaged Jones Lang to act as their
broker in connection with the sale of the Assets.  Each Seller represents and warrants to the
Purchaser and the Purchaser represents and warrants to the Sellers that it has
dealt with no real estate broker, finder or other Person who would be entitled
to be paid a commission or other fee in connection with the transaction which
is the subject of this Agreement (other than Jones Lang, whose commission, if
and when due and payable, shall be paid by the Sellers).  The Sellers agree to indemnify the Purchaser
and the Purchaser agrees to indemnify the Sellers from and against any loss,
cost, damage or expense arising out of the breach by the indemnifying party of
the foregoing representation and warranty. 
The provisions of this Section shall survive the Closing or termination
of this Agreement.

ARTICLE 10

Extension

Section
10.1.        Extension
to Cure.  Subject to the provisions of Article 6 and Section 10.2 hereof, if on the
Closing Date, all of the Closing Conditions have not been satisfied in any
material respect (or waived in writing), then, (a) the Purchaser shall so notify the
Sellers and the Escrow Agent on or, if reasonably possible, before the Closing
Date or (b) with respect to
any Closing Condition that is a condition precedent to the Sellers’ obligations
to consummate the Closing, the Sellers shall so notify the Purchaser and the
Escrow Agent on or, if reasonably possible, before Closing Date; whereupon, at
the Sellers’ or the Purchaser’s option exercisable by written notice on or
before the Closing Date, the Closing Date shall be extended for a period not to
exceed thirty (30) days to allow the Closing Conditions to be satisfied; it
being acknowledged and agreed that such extension right may be exercised on
more than one occasion as long as the cumulative period of all such extensions
does not exceed thirty (30) days.

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Subject to the
provisions of Article 6
and Section 10.2
hereof, the Purchaser shall have the election, at either the original or
extended time for performance, to accept such title as the Sellers can deliver
to the Assets (in their then condition) and/or to waive any unsatisfied Closing
Conditions and to pay the Purchase Price for the Assets without deduction, in
which case, the Sellers shall convey such title to the Assets.  Notwithstanding anything to the contrary set
forth herein, in the event that the Purchaser elects to waive any uncured
breach by the Sellers of any of their obligations hereunder that exists as of
the Closing Date, any Material Matters relating to such breach shall be counted
towards the Material Matters Threshold.

Section
10.2.        Loan
Assumption Extension.  In the
event that any of the Consents or any of the Financing Assignment and
Assumption Documents to be executed by Hancock are not obtained by Tedeschi
Realty, Cove Road, and Tedeschi-Norwell as of the Closing Date, then,
subject to the satisfaction of the other Closing Conditions (a) the Closing shall be consummated and,
subject to the provisions of Article 6,
all of the Assets other than the applicable Financed Properties for which a
Consent or any of the Financing Assignment and Assumption Documents to be
executed by Hancock have not been obtained, shall be transferred to the
Purchaser in accordance with the terms hereof and a reduction in the Purchase
Price shall be made equal to the Allocated Value for each applicable Financed
Property, (b) the Allocated
Deposit for each applicable Financed Property shall remain in escrow pending
consummation of the transfer of such applicable Financed Property and (c) the Purchaser shall remain obligated to
acquire and Tedeschi Realty, Cove Road, and Tedeschi-Norwell shall remain
obligated to sell the applicable Financed Properties in accordance with the
terms of this Agreement (for a purchase price equal to the Allocated Value for
each of the applicable Financed Properties); mutatis, mutandis, provided,
however, that if the applicable Consents and/or Financing
Assignment and Assumption Documents to be executed by Hancock are not obtained
within one hundred twenty (120) days after the Closing, (i) the Purchaser shall have the right, by
written notice delivered to the Sellers and the Escrow Agent at any time
thereafter, to terminate the Purchaser’s and the Sellers’ respective
obligations under this Agreement relating to any applicable Financed Property
(each such notice, a “Purchaser’s
Post-Closing Termination Notice”), the Allocated Deposit for the
applicable Financed Property shall be promptly returned to the Purchaser by the
Escrow Agent upon the Escrow Agent’s receipt of such Purchaser’s Post-Closing
Termination Notice and the parties hereto shall have no further rights,
liabilities or obligations under this Agreement with respect to the applicable
Financed Property and (ii) the
Sellers shall have the right, by written notice delivered to the Purchaser and
the Escrow Agent at any time thereafter, to terminate the Purchaser’s and the
Sellers’ respective obligations under this Agreement relating to any applicable
Financed Property (each such notice, a “Sellers’
Post-Closing Termination Notice”), the Allocated Deposit for
each applicable Financed Property shall be promptly returned to the Purchaser
by the Escrow Agent upon the Escrow Agent’s receipt of such Sellers’
Post-Closing Termination Notice and the parties hereto shall have no further
rights, liabilities or obligations under this Agreement with respect to the
applicable Financed Property.

Immediately upon the Sellers’ receipt of the
applicable Consent and/or Financing Assignment and Assumption Documents to be
executed by Hancock relating to any applicable Financed Property, the Sellers
shall (x) provide a copy thereof
to the Purchaser and (y) notify
the Purchaser and the Escrow Agent in writing (each such notice, a “Subsequent Closing Notice”) of the date
selected by the Sellers for consummation of the transfer of the applicable
Financed Property (each such applicable date, a “Subsequent Closing Date”); provided, however,
that the 

 83
 

date selected by the
Sellers to be a Subsequent Closing Date shall be no less than five (5) Business
Days nor more than ten (10) Business Days after the date of the applicable
Subsequent Closing Notice.  The
consummation of the transfer of the applicable Financed Property shall occur on
the applicable Subsequent Closing Date, in accordance with the provisions of Article 8, mutatis, mutandis.

The parties’
respective obligations under this Section 10.2
shall survive the Closing.

Section
10.3.        Rejected
Properties.  In the event that,
at the original or extended time for performance, any Unresolved Material Matters
exist and the Purchaser has not elected to waive such Unresolved Material
Matters, either the Sellers or the Purchaser may elect, in writing, to treat
any applicable Property as a “Rejected
Property”, in which event, the Purchaser and the Sellers shall
remain obligated to perform their obligations hereunder (subject to the other
terms and conditions of this Agreement) and all of the Assets other than the
Rejected Property (and any Assets related thereto) shall be transferred to the
Purchaser, provided, however, that  (i) the Purchaser shall have no further
obligations or liabilities with respect to any such Rejected Property, (ii) the Purchaser shall be entitled to a
credit toward the Purchase Price for each Rejected Property in an amount equal
to the Allocated Value for the Rejected Property and (iii) in no event shall more than three (3) Properties be
treated as Rejected Properties (including, without limitation, any rejection of
the Orleans Property and/or the Middleboro Property pursuant to Section 3.4(s)); provided, however,
that for the purposes of this Section 10.3,
(x) the first Property rejected
pursuant to Article 6 as a
result of any casualty or condemnation shall not be deemed to be a Rejected
Property (provided, that, any additional Properties rejected pursuant to Article 6 as a result of any casualty
or condemnation shall thereafter be deemed Rejected Properties) and (y) to the extent that any of the Financed
Properties are not conveyed to the Purchaser in accordance with the terms of Section 10.2, such Financed
Property shall not be deemed to be a Rejected Property.  Notwithstanding anything herein to the
contrary, any uncured breach by the Sellers of their obligations under this
Agreement relating to any particular Property that exists as of the Closing
Date shall entitle the Purchaser to exercise its remedies to reject such
Property under this Section 10.3
and in such event that the Purchaser so rejects any Property as a result of
any such breach by the Sellers, such rejection shall be the Purchaser’s sole
and exclusive remedy relating to such breach. 
The provisions of this Section 10.3
shall survive the consummation of the Closing.

ARTICLE 11

Termination and Default

Section
11.1.        Termination
without Default.  Except as
provided in Section 11.2,
Section 11.3 and Section 11.4, if the sale of the Assets is not
consummated because of the failure of any condition precedent to the Purchaser’s
or the Sellers’ obligations expressly set forth in this Agreement and such
condition is not waived (or, as set forth in Section 3.1 or Section
3.2, deemed to be waived) by the applicable party, such party
may terminate this Agreement by written notice to the other and the Escrow
Agent, whereupon the Deposit shall promptly be returned by the Escrow Agent to
the Purchaser and the parties hereto shall have no further rights or
obligations hereunder, except for those that specifically survive the
termination of this Agreement.

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Section
11.2.        Purchaser’s
Default.  If the Sellers shall
have performed or tendered performance of all of their material obligations
under this Agreement and if the sale contemplated hereby is not consummated
because of a default by the Purchaser in its obligation to purchase the Assets
in accordance with the terms of this Agreement, which default is not cured by
the Purchaser within three (3) Business Days after receipt of written notice
from the Sellers, then  (a)
the Sellers may terminate this Agreement by written notice to the Purchaser and
the Escrow Agent; (b) the
Escrow Agent shall promptly pay the Deposit to the Sellers and the Deposit
shall be retained by the Sellers as liquidated damages; (c) the Purchaser shall pay any fees and/or
charges of the Escrow Agent for its services as Escrow Agent hereunder and (d) the parties hereto shall have no
further rights, liabilities or obligations under this Agreement, except such
rights, liabilities and obligations that expressly survive the termination of
this Agreement.  THE PURCHASER AND THE
SELLERS ACKNOWLEDGE THAT THE DAMAGES TO THE SELLERS IN THE EVENT OF A BREACH OF
THIS AGREEMENT BY THE PURCHASER WOULD BE DIFFICULT OR IMPOSSIBLE TO DETERMINE,
THAT THE AMOUNT OF THE DEPOSIT REPRESENTS THE PARTIES’ BEST AND MOST ACCURATE
ESTIMATE OF THE DAMAGES THAT WOULD BE SUFFERED BY THE SELLERS IF THE TRANSACTION
SHOULD FAIL TO CLOSE AND THAT SUCH ESTIMATE IS REASONABLE UNDER THE
CIRCUMSTANCES EXISTING AS OF THE EFFECTIVE DATE AND UNDER THE CIRCUMSTANCES
THAT THE SELLERS AND THE PURCHASER REASONABLY ANTICIPATE WOULD EXIST AT THE
TIME OF SUCH BREACH.  THE PURCHASER AND
THE SELLERS AGREE THAT EXCEPT FOR MATTERS SPECIFICALLY SURVIVING THE CLOSING OR
ANY EARLIER TERMINATION OF THIS AGREEMENT, THE SELLERS’ RIGHT TO RETAIN THE
DEPOSIT SHALL BE THE SELLERS’ SOLE REMEDY, AT LAW AND IN EQUITY, FOR ANY BREACH
BY THE PURCHASER OF THE TERMS OF THIS AGREEMENT.

THE SELLERS
IRREVOCABLY WAIVE THE RIGHT TO SEEK OR OBTAIN ANY OTHER LEGAL OR EQUITABLE
REMEDIES, INCLUDING THE REMEDIES OF DAMAGES AND SPECIFIC PERFORMANCE.

The provisions of
this Section 11.2 shall
survive any termination of this Agreement pursuant to this Section 11.2.

Section
11.3.        Sellers’
Default.  If, as of the Closing
Date, the Sellers shall have failed to perform, in any material respect, any of
the covenants and agreements contained in this Agreement which are to be
performed by the Sellers, then, the Purchaser may:

(a)           take any and all
legal actions necessary to compel the Sellers’ specific performance hereunder
and to consummate the transaction contemplated by this Agreement in accordance
with the provisions of this Agreement; or

(b)           terminate this
Agreement by notice to the Sellers and the Escrow Agent, in which event (i) the Escrow Agent shall promptly return the Deposit to
the Purchaser, (ii) the Sellers shall reimburse
the Purchaser for the Purchaser’s actual out of pocket costs and expenses
(including reasonable attorneys’ fees, costs and disbursements) related to the
negotiation of this Agreement and the transaction contemplated hereby and the
Purchaser’s due diligence, up to a maximum amount of TWO MILLION
DOLLARS ($2,000,000), (iii) the
Sellers shall pay any fees and/or charges of the Escrow Agent for its services
as Escrow Agent hereunder and (iv) the 

 85
 

parties hereto shall have no further rights, liabilities or obligations
under this Agreement, except such rights, liabilities and obligations that
expressly survive the termination of this Agreement;

provided,
however, it is acknowledged and agreed that (i) in no event shall the Sellers be deemed to be in default
of their obligations hereunder as a consequence of any failure to satisfy any
Closing Condition that is not solely within the control of the Sellers (it
being agreed, however, that the foregoing shall not limit the provisions of Section 11.1 hereof or any other
provision expressly set forth herein relating to the failure to satisfy any
such Closing Condition) and (ii)
as a condition precedent to the Purchaser exercising any right to bring an
action for specific performance as the result of Sellers’ default hereunder,
the Purchaser must commence such action within one hundred twenty (120) days
after the occurrence of such default (and any failure to timely commence such
an action for specific performance within such one hundred twenty (120) day
period shall be deemed a waiver by the Purchaser of its right to commence such
an action).

The provisions of
this Section 11.3 shall
survive any termination of this Agreement pursuant to this Section 11.3.

Section
11.4.        Breach
of Representations.  Subject to
the provisions of Section 7.2,
the Sellers agree that the Sellers shall be liable for any direct and actual
out-of-pocket damages (but not any consequential damages) resulting from any
breach, in any material respect, of any of the Express Representations and
Warranties or any representation made in any Landlord Estoppel Certificate, but
only to the extent that the aggregate of all such damages incurred by the
Purchaser is greater than the Limitation Threshold and in the event that the
aggregate of all such damages exceeds the Limitation Threshold, subject to the
provisions of the immediately following paragraph, the Sellers shall be liable
for the entire amount of the damages incurred by the Purchaser up to the
Maximum Aggregate Liability.  In no event
shall the Sellers’ aggregate liability for any breach of any of the Express
Representations and Warranties exceed the Maximum Aggregate Liability.  Notwithstanding anything to the contrary set
forth herein (a) in the event
that, subject to  Section 7.2,
the Purchaser has actual knowledge or is deemed to know, prior to the Closing,
that any of the Express Representations and Warranties made herein was not true
and correct, in all material respects, as of the Effective Date, then,
the Purchaser may either (i) waive
any such breach and consummate the Closing without any reduction or credit to
the Purchase Price or (ii)
terminate this Agreement by written notice to the Sellers and the Escrow Agent,
whereupon the Deposit shall be promptly returned to the Purchaser by the Escrow
Agent and the parties hereto shall have no further rights, liabilities or
obligations under this Agreement, except such rights, liabilities and
obligations that expressly survive the termination of this Agreement and (b) in the event that the Closing is
consummated, the Purchaser hereby expressly waives, relinquishes and releases
any right or remedy available to it at law, in equity, under this Agreement or
otherwise to make a claim against the Sellers for damages that the Purchaser
may incur, or to rescind this Agreement and the transaction consummated, as the
result of any of the Express Representations and Warranties being untrue,
inaccurate or incorrect if the Purchaser had actual knowledge or is deemed to
know that any such representation or warranty was untrue, inaccurate or
incorrect at the time of the Closing.

Any and all Landlord Estoppel Certificates shall be
subject to the Estoppel Threshold Limit. 
In the event that the Purchaser incurs actual and direct out-of-pocket
damages (but not including any consequential damages) arising out of a breach
of any representation or warranty set forth in any Landlord Estoppel
Certificate, (1) the first ONE MILLION DOLLARS 

 86
 

($1,000,000.00)
of such damages (the “Estoppel Threshold
Limit”) shall apply against, and be counted towards, the Maximum
Aggregate Liability (with the Sellers being nevertheless liable to the
Purchaser therefor) and (2)
notwithstanding anything to the contrary set forth herein, the Sellers shall be
liable to the Purchaser for any such damages in excess of the Estoppel
Threshold Limit, and any such excess shall not apply against, and shall not be
counted towards, the Maximum Aggregate Limit.

The Express
Representations and Warranties and the representations made in the Landlord
Estoppel Certificates shall survive the Closing until the Expiration Date, and
no action or proceeding thereon shall be valid or enforceable, at law or in
equity, if the Purchaser has not asserted a claim against the Sellers with
respect thereto prior to the expiration of such survival period and a legal
proceeding with respect thereto is not commenced within thirty (30) days after
the expiration of such survival period.

The terms and
conditions of this Section 11.4
shall survive the Closing.

ARTICLE 12

Miscellaneous

Section
12.1.        Entire
Agreement.  This Agreement and
the Access Agreements constitute the entire agreement between the parties
hereto with respect to the transaction contemplated herein.  This Agreement supersedes all prior
discussions, understandings or agreements (excluding the Access Agreements)
between the parties.  All Exhibits and
Schedules attached hereto are a part of this Agreement and are incorporated
herein by reference.

Section
12.2.        Binding
on Successors and Assigns. 
Subject to Section 12.3,
this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns.

Section
12.3.        Assignment
by the Purchaser.  The Sellers
may not assign any of their rights under this Agreement without the Purchaser’s
prior written consent, which consent may be granted, conditioned or withheld in
the Purchaser’s sole and absolute discretion. 
The Purchaser may not assign its rights under this Agreement without the
Sellers’ prior written consent, which consent may be granted, conditioned or
withheld in the Sellers’ sole and absolute discretion; provided, that,
notwithstanding the foregoing, (a) upon
ten (10) days prior notice to the Sellers, the Purchaser may designate one or
more Affiliates of the Purchaser to take title to the Assets and (b) no such designation of any one or
more title nominees shall release the Purchaser of any of its obligations
hereunder.  For purposes of the
foregoing, “Affiliate” shall also include any Affiliate of Dividend Capital
Total Advisers LLC, Dividend Capital Total Realty Operating Partnership LP or
Dividend Capital Total Realty Trust, Inc.

Section 12.4.        Seller Representative.  The Sellers hereby appoint Tedeschi Realty,
acting by or through any one or more of its duly authorized officers, as their
representative (the “Seller Representative”)
to act for the Sellers with respect to all matters relating to this Agreement,
including, without limitation, the (a) waiver
of one or more of the conditions set forth herein; (b) amendment or modification of this Agreement or any other
document delivered in connection herewith; (c)
exercise of any right or remedy hereunder; (d)
grant or denial of any consent or approval; and (e) receipt or delivery of all notices, requests, demands or
other 

 87
 

communications required
or permitted under this Agreement.  The
appointment of the Seller Representative is coupled with an interest, is
irrevocable and shall not be revoked by, and shall survive, the liquidation,
dissolution or bankruptcy of any Seller. 
The Purchase Price (after giving effect to all adjustments and
allocations as herein provided) shall be paid to the Seller Representative or
as it may direct on behalf of and for the benefit of all of the Sellers.  The Seller Representative, in turn, will remit
to each other Seller hereunder so much of the Purchase Price as each such other
Seller may be entitled to receive.  The
Purchaser shall have no responsibility with respect to the distribution of the
Purchase Price among or to the Sellers except for the payment thereof to the
Seller Representative and shall be entitled to rely on any direction, consent,
agreement or other communication (written or oral) from the Seller
Representative as binding on each Seller, without duty of inquiry.

Section
12.5.        Waiver.  Except as otherwise expressly provided
herein, the excuse or waiver of the performance by a party of any obligation of
the other party under this Agreement shall only be effective if evidenced by a
written statement signed by the party so excusing or waiving.  No delay in exercising any right or remedy
shall constitute a waiver thereof, and no waiver by the Sellers or the
Purchaser of the breach of any covenant of this Agreement shall be construed as
a waiver of any preceding or succeeding breach of the same or any other
covenant or condition of this Agreement.

Section
12.6.        Governing
Law.

(a)           This Agreement
shall be construed and the rights and obligations of the Sellers and the
Purchaser hereunder determined in accordance with the internal laws of the
Commonwealth of Massachusetts.

(b)           For the purposes of
any suit, action or proceeding involving this Agreement, the parties hereto
hereby expressly submit to the jurisdiction of all federal and state courts
sitting in the Commonwealth of Massachusetts and consent that any order,
process, notice of motion or other application to or by any such court or judge
thereof may be served within or without such court’s jurisdiction by registered
mail or by personal service, provided that a reasonable time for appearance is
allowed, and the parties hereto agree that such courts shall have exclusive
jurisdiction over any such suit, action or proceeding commenced by either or
both of said parties.  In furtherance of
such agreement, each of the parties hereto agrees upon the request of any other
party hereto to discontinue (or agree to the discontinuance of) any such suit,
action or proceeding pending in any other jurisdiction.

(c)           Each of the parties
hereto hereby irrevocably waives any objection that it may now or hereafter
have to the laying of venue of any suit, action or proceeding arising out of or
relating to this Agreement brought in any federal or state court sitting in the
Commonwealth of Massachusetts and hereby further irrevocably waives any claim
that any such suit, action or proceeding brought in any such court has been
brought in an inconvenient forum.

(d)           In recognition of
the benefits of having any disputes with respect to this Agreement resolved by
an experienced and expert person, the Sellers and the Purchaser hereby agree
that any suit, action, or proceeding, whether claim or counterclaim, brought or
instituted by any party hereto on or with respect to this Agreement or which in
any way relates, directly or indirectly, to this Agreement or any event,
transaction, or occurrence arising out of or in any way connected with this
Agreement or any Property, or the dealings of the parties with respect 

 88
 

thereto, shall be tried only by a court and not by a jury.  EACH PARTY HEREBY EXPRESSLY WAIVES ANY RIGHT
TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING.

Section
12.7.        Counterparts.  This Agreement may be executed in any number
of counterparts and it shall be sufficient that the original or facsimile
signature of each party appear on one or more such counterparts.  All counterparts shall collectively
constitute a single agreement.

Section
12.8.        Notices.  All notices or other communications required
or provided to be sent by any party (collectively, “Notices”) shall be in writing and shall
be sent by: (a) United States
Postal Service, certified mail, return receipt requested, (b) any nationally known overnight delivery
service for next day delivery, (c)
delivery in person, (d) confirmed
facsimile or (e) confirmed
electronic transmission, with an original copy thereof transmitted to the
recipient by one of the means described in subsection
(a) through (c)
no later than three (3) Business Days thereafter.  All notices shall be deemed to have been
given upon receipt or refusal of delivery, whichever first occurs ; provided, however, that if the Notice was sent
by overnight courier or mail as aforesaid and is affirmatively refused or
cannot be delivered during customary business hours by reason of the absence of
a signatory to acknowledge receipt, or by reason of a change of address with
respect to which the addressor did not have either knowledge or written notice
delivered in accordance with this section, then the first attempted delivery
shall be deemed to constitute delivery; and, provided, further,
however, that Notices given by facsimile, PDF or email shall be deemed given
when received by facsimile, PDF or email, as the case may be.  All notices shall be addressed to the parties
at the addresses below:

	
  To the Sellers:

  	
   

  	
  Tedeschi Realty
  Corporation

  
	
   

  	
   

  	
  14 Howard Street

  
	
   

  	
   

  	
  Rockland, Massachusetts 02370

  
	
   

  	
   

  	
  Attention: Terrence C. Tedeschi

  
	
   

  	
   

  	
  Facsimile: (781) 871-6970

  
	
   

  	
   

  	
  E-mail: tct@tedeschirealty.com

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  and

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Tedeschi Realty Corporation

  
	
   

  	
   

  	
  14 Howard Street

  
	
   

  	
   

  	
  Rockland, Massachusetts 02370

  
	
   

  	
   

  	
  Attention: Eugene V. Blanchard, Esq.

  
	
   

  	
   

  	
  Facsimile: (781) 871-6970

  
	
   

  	
   

  	
  E-mail: eblanchard@tedeschirealty.com

  
	
   

  
	
  with a copy to:Nutter, McClennen & Fish, LLP

  
	
   

  	
   

  	
  155 Seaport Boulevard

  
	
   

  	
   

  	
  Boston, MA 02210

  
	
   

  	
   

  	
  Attention: Paul R. Eklund, Esq.

  
	
   

  	
   

  	
  Facsimile: (617) 310-9303

  
	
   

  	
   

  	
  E-mail: peklund@nutter.com

  

 

 89
 

 

	
  To the Purchaser:

  	
   

  	
  TRT Acquisitions
  LLC

  
	
   

  	
   

  	
  c/o Dividend Capital Total Realty Trust

  
	
   

  	
   

  	
  518 17th Street, 17th Floor

  
	
   

  	
   

  	
  Denver, CO 80202

  
	
   

  	
   

  	
  Attention: Greg Moran

  
	
   

  	
   

  	
  Facsimile: (303) 996-8486

  
	
   

  	
   

  	
  E-mail: gmoran@dividendcapital.com

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  and

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Dividend Capital Group

  
	
   

  	
   

  	
  518 17th Street, 17th Floor

  
	
   

  	
   

  	
  Denver, Colorado 80202

  
	
   

  	
   

  	
  Attention: Gary M. Reiff, Esq.

  
	
   

  	
   

  	
  Facsimile: 303-869-4602

  
	
   

  	
   

  	
  E-mail: greiff@blackcreekcapital.com

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  and

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Brownstein Hyatt Farber Schreck, P.C.

  
	
   

  	
   

  	
  410 17th Street, Suite 2200

  
	
   

  	
   

  	
  Denver, CO 80202-4437

  
	
   

  	
   

  	
  Attention: Bruce A. James, Esq,

  
	
   

  	
   

  	
  Facsimile: 303-223-1111

  
	
   

  	
   

  	
  E-Mail: bjames@bhfs.com

  
	
   

  	
   

  	
   

  
	
  To the Escrow Agent:

  	
   

  	
  First American Title Insurance Company

  
	
   

  	
   

  	
  National Commercial Services

  
	
   

  	
   

  	
  101 Huntington Avenue, 13th Floor

  
	
   

  	
   

  	
  Boston, MA 02199

  
	
   

  	
   

  	
  Attention: Harry Stoddard

  
	
   

  	
   

  	
  Facsimile: 617-247-8648

  
	
   

  	
   

  	
  E-mail: hstoddard@firstam.com

  

 

Any address or
name specified above may be changed by notice given by the party requesting
such change to the other parties hereto in accordance with this Section 12.8.  The inability to deliver notice because of a
changed address of which no notice was given as provided above, or because of
rejection or other refusal to accept any notice, shall be deemed to be the
receipt of the notice as of the date of such inability to deliver or rejection
or refusal to accept.  Any notice to be
given by any party hereto may be given by the counsel for such party.

Section
12.9.        Third
Parties.  Nothing in this
Agreement, whether express or implied is intended to confer any rights or
remedies under or by reason of this Agreement on any Persons other than the
parties hereto and their respective legal representatives, successors and
permitted assigns.  No Person, other than
the Purchaser, the Sellers and the Escrow Agent may rely hereon or derive any
benefit hereby as a third party beneficiary or otherwise.

Section 12.10.      IRS Real Estate Sales
Reporting.  The Purchaser and the
Sellers hereby agree that the Title Company shall act as “the person
responsible for closing” the 

 90
 

transaction which is the
subject of this Agreement pursuant to Section 6045(e) of the Code and shall
prepare and file all informational returns, including IRS Form 1099-S, and
shall otherwise comply with the provisions of Section 6045(e) of the Code.

Section
12.11.      Time
Periods.  Any reference in this
Agreement to the time for the performance of obligations or elapsed time shall
mean consecutive calendar days, months, or years, as applicable.  In computing any period of time under this
Agreement, the date of the act or event from which the designated period of
time begins to run shall not be included.   In the event the time for performance of any
obligation hereunder expires on a day that is not a Business Day, the time for
performance shall be extended to the next Business Day.

Section
12.12.      Modification
of Agreement.  No modification of
this Agreement shall be deemed effective unless in writing and signed by the
Sellers and the Purchaser and the parties hereto waive all rights to claim that
this Agreement has been modified as a consequence of any oral understanding or
any course of conduct.  The Escrow Agent’s
signature hereon shall not be a prerequisite to the binding nature of this
Agreement on the Purchaser and the Sellers, and the same shall become fully
effective upon execution by the Purchaser and the Seller, and the signature of
the Escrow Agent will not be necessary to amend any provision of this Agreement
other than amendments or modifications to Section
2.3(b).

Section
12.13.      Further
Assurances.  From time to time
before or after the Closing, at no additional consideration, the parties hereto
each agree that they will promptly, upon the request of any other party hereto,
(a) execute and deliver (to any
other party hereto or to the Escrow Agent, as may be appropriate) all further
instruments and (b) perform (or
cause the performance of) any other acts, in each instance, that may reasonably
requested or appropriate to evidence or give effect to the provisions of this
Agreement and which are consistent with the provisions of this Agreement
(including, without limitation, providing each other with such access to their
books and records as may be reasonably necessary).  The provisions of this Section 12.13 shall survive the
Closing.  Without limiting the foregoing,
(i) in the event that from and
after the Closing, any Seller receives (x)
any notice under any of the Lease Documents relating to any period from and
after the Closing Date or (y) any
correspondence regarding any of the Assets that the Person sending such
correspondence intended to direct to the then current owner of such Asset, such
Seller shall promptly forward the same to the Purchaser and (ii) in the event that from and after the
Closing, the Purchaser receives (x)
any notice under any of the Lease Documents relating to any period prior to the
Closing Date or (y) any
correspondence regarding any of the Assets that the Person sending such
correspondence intended to direct to the owner of such Asset for any period
prior to the Closing Date, the Purchaser shall promptly forward the same to the
Sellers.

Section
12.14.      Descriptive
Headings; Word Meaning.  The
descriptive headings of the paragraphs of this Agreement are inserted for
convenience only and shall not control or affect the meaning or construction of
any provisions of this Agreement.  Words
such as “herein”, “hereinafter”, “hereof” and “hereunder” when used in
reference to this Agreement, refer to this Agreement as a whole and not merely
to a subdivision in which such words appear, unless the context otherwise
requires.  The singular shall include the
plural and the masculine gender shall include the feminine and neuter, and vice
versa, unless the context otherwise requires. 
The word “including” shall not be restrictive and shall be interpreted
as if followed by the words “without limitation.”  As used in this Agreement, reference to
dollar amounts shall mean the lawful money of the United States of America.

 91
 

References in this
Agreement to the Closing Date shall be deemed, in each instance, to refer to
the Closing Date as the same may be extended hereunder.

Section
12.15.      Time
of the Essence.  Time is of the
essence of this Agreement and all covenants and deadlines hereunder.  Without limiting the foregoing, the Purchaser
and the Sellers hereby confirm their intention and agreement that time shall be
of the essence of each and every provision of this Agreement, notwithstanding
any subsequent modification or extension of any date or time period that is
provided for under this Agreement.  The
agreement of the Purchaser and the Sellers that time is of the essence of each
and every provision of this Agreement shall not be waived or modified by any
conduct of the parties and may only be modified or waived by the express
written agreement of the Purchaser and the Sellers.

Section
12.16.      Construction
of Agreement.  This Agreement
shall not be construed more strictly against one party than against the other
merely by virtue of the fact that it may have been prepared primarily by
counsel for one of the parties, it being recognized that both the Purchaser and
the Sellers have contributed substantially and materially to the preparation of
this Agreement.

Section
12.17.      Liability.

(a)           Sellers’ Liabilities.  The Purchaser hereby
acknowledges and agrees that each of the parties that constitute the Sellers
are referred to collectively as the Sellers merely for the sake of
convenience.  Notwithstanding anything to
the contrary in this Agreement, the parties hereto acknowledge and agree that (a) the obligations of each Seller hereunder are several and
not joint and several, (b) the
Purchaser’s recourse against the Sellers (i) for a
breach of any Seller’s obligations under this Agreement or any of the Sellers’
Documents, or (ii) under any law, rule or
regulation relating to any Property, shall be limited to recourse against such
defaulting Seller and may be satisfied only from the assets of such defaulting
Seller and (c) in no event shall any
constituent member in or agent of any Seller, nor any advisor, trustee,
director, officer, employee, beneficiary, shareholder, member, partner,
participant, representative or agent of any partnership, limited liability
company, corporation, trust or other entity that has or acquires a direct or
indirect interest in any Seller, have any personal liability, directly or
indirectly, under or in connection with this Agreement or any of the Sellers’
Documents, and the Purchaser and its successors and assigns, shall, except in
the event of a breach of Section 3.4(n)
hereof or any Bankruptcy Proceeding affecting the Umbrella Guarantor while the
Umbrella Guaranty remains in effect, look solely to each Seller’s assets for
the payment of any claim or for any performance of any obligation hereunder.  The Purchaser, on behalf of itself and its
successors and assigns, hereby waives any and all such personal liability,
except in the event of a breach of Section 3.4(n)
hereof or any Bankruptcy Proceeding affecting the Umbrella Guarantor while the
Umbrella Guaranty remains in effect. 
Notwithstanding anything to the contrary contained in this Agreement,
neither the negative capital account of any constituent member or partner in
any Seller (or in any direct or indirect constituent member or partner of any
Seller), nor any obligation of any constituent member or partner in any Seller
(or in any direct or indirect constituent member or partner of any Seller) to
restore a negative capital account or to contribute capital to any Seller (or
to any direct or indirect constituent member or partner of Seller), shall at
any time be deemed to be the property or an asset of the applicable Seller or
any such other constituent member or partner (and neither the Purchaser nor any
of its successors or assigns shall have any right to collect, enforce or
proceed against or with respect to any such negative capital account of a
member’s or partner’s obligation to restore or contribute).

 92
 

(b)           Purchaser’s
Liability.  Notwithstanding anything to the
contrary in this Agreement, the parties hereto acknowledge and agree that, in
no event shall any constituent member in or agent of the Purchaser, nor any
advisor, trustee, director, officer, employee, beneficiary, shareholder,
member, partner, participant, representative or agent of any partnership,
limited liability company, corporation, trust or other entity that has or
acquires a direct or indirect interest in the Purchaser, have any personal
liability, directly or indirectly, under or in connection with this Agreement
or any of the Purchaser’s Documents, and, subject expressly to the provisions
of Section 11.2 hereof, the
Sellers and their respective successors and assigns, shall look solely to the
Purchaser’s assets for the payment of any claim or for any performance of any
obligation hereunder.  Each Seller, on
behalf of itself and its successors and assigns, hereby waives any and all such
personal liability.  Notwithstanding
anything to the contrary contained in this Agreement, neither the negative
capital account of any constituent member or partner in the Purchaser (or in
any direct or indirect constituent member or partner of the Purchaser), nor any
obligation of any constituent member or partner in the Purchaser (or in any
direct or indirect constituent member or partner of the Purchaser) to restore a
negative capital account or to contribute capital to the Purchaser (or to any
direct or indirect constituent member or partner the Purchaser), shall at any
time be deemed to be the property or an asset of the Purchaser or any such
other constituent member or partner (and neither the Sellers nor any of their
respective successors or assigns shall have any right to collect, enforce or
proceed against or with respect to any such negative capital account of a
member’s or partner’s obligation to restore or contribute).

Section
12.18.      Portfolio
Sale.  The Sellers and the
Purchaser hereby acknowledge and agree that the Assets shall be purchased in
their entirety.  In furtherance thereof,
except as otherwise expressly provided in Article 6,
Section 10.2 and Section 10.3, in the event that
any Closing Condition is not satisfied with respect to less than all of the
Properties which entitles the Purchaser to exercise its remedies under this
Agreement, the Purchaser shall have no right or obligation to purchase less
than all of the Assets.

Section
12.19.      Severability.  The parties hereto intend and believe that
each provision in this Agreement comports with all applicable local, state and
federal laws and judicial decisions.  If,
however, any provision in this Agreement is found by a court of law to be in
violation of any applicable local, state, or federal law, statute, ordinance,
administrative or judicial decision, or public policy, or if in any other
respect such a court declares any such provision to be illegal, invalid,
unlawful, void or unenforceable as written, then it is the intent of all
parties hereto that, consistent with and with a view towards preserving the
economic and legal arrangements among the parties hereto as expressed in this
Agreement, such provision shall be given force and effect to the fullest
possible extent, and that the remainder of this Agreement shall be construed as
if such illegal, invalid, unlawful, void, or unenforceable provision were not
contained herein, and that the rights, obligations, and interests of the
parties under the remainder of this Agreement shall continue in full force and
effect.

Section
12.20.      No
Recording.  Neither the Purchaser
nor its agents or representatives shall record or file this Agreement or any
notice or memorandum hereof in any public records.  The Purchaser hereby irrevocably appoints
each Seller as its true and lawful attorney-in-fact, coupled with an interest,
solely for the purpose of executing and recording such documents and performing
such other acts as may be necessary to terminate any recording or filing of
this Agreement in violation of this Section.

 93

Section
12.21.      Standard of Conduct.  Except as otherwise expressly provided
herein, whenever the consent or approval by either party is required by any
term or provision of this Agreement, such consent or approval shall not be
unreasonably withheld, conditioned or delayed and shall be subject to the
standard of commercial reasonableness under all the circumstances.

Section
12.22.      Attorneys’ Fees.  Should any action be brought arising out of
this Agreement, including, without limitation, any action for declaratory or
injunctive relief, the prevailing party shall be entitled to reasonable
attorneys’ fees and costs and expenses of investigation, all as actually
incurred, including, without limitation, attorneys’ fees, costs and expenses of
investigation incurred in appellate proceedings or in any action or
participation in, or in connection with, any case or proceeding under the laws
of the United States of America.

Section
12.23.      Post-Closing Access to
Records.  Upon
receipt by the Sellers of the Purchaser’s reasonable written request at any
time and from time to time prior to the Expiration Date, the Sellers shall,
during normal business hours, make all of the Sellers’ records relating to each
Property available to the Purchaser, at a location to be designated by the
Sellers, for inspection and copying (at the Purchaser’s sole cost and expense).

Section
12.24.      Information and Audit
Cooperation. 
Within seventy (75) days after the Closing Date, the Sellers shall allow
the Purchaser’s auditors access to the books and records of the Sellers
relating to the operation of the Properties for the two year period prior to
the Closing Date to enable the Purchaser to comply with any financial reporting
requirements applicable to the Purchaser, upon at least three (3) Business Days
prior written notice to the Sellers. In addition, the Sellers shall provide the
Purchaser’s designated independent auditors a representation letter regarding
the books and records of the Properties in substantially the form attached
hereto as EXHIBIT MM.

Section
12.25.      No Implied Agreement.  Neither the Sellers nor the Purchaser shall
have any obligations in connection with the transaction contemplated by this
Agreement unless each of the Sellers and the Purchaser, each acting in its sole
discretion, elect to execute and deliver this Agreement to the other
party.  No correspondence, course of
dealing or submission of drafts or final versions of this Agreement between the
Sellers and the Purchaser shall be deemed to create any binding obligations in
connection with the transaction contemplated hereby, and no contract or
obligation on the part of the Sellers or the Purchaser shall arise unless and
until this Agreement is fully executed by each of the Sellers and the
Purchaser.

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 94
 

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

	
   

  	
   

  	
  SELLERS:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TEDESCHI
  REALTY CORPORATION, a  

  Massachusetts corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Terrence C.
  Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Terrence
  C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EASTWAY PLAZA LLC,  a Massachusetts 

  limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Tedeschi Realty Corporation, a 

  Massachusetts corporation, its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  KINGSBURY SQUARE LLC, a
  

  Massachusetts limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Kingsbury SPM, Inc., a Massachusetts 

  corporation, its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BETA PROPERTIES LLC, a 

  Massachusetts limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Charles E. Fitzgibbons

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Charles E.
  Fitzgibbons

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Manager

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  T.D. MANSFIELD ASSOCIATES LLC, a 

  Massachusetts limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Tedeschi Realty Corporation, a 

  Massachusetts corporation, its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
							

 

 95
 

 

	
  

  	
   

  	
  MERIDEN REALTY LLC, a Massachusetts

  limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Meriden SPM, Inc., a Massachusetts 

  corporation, its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Timothy N. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Timothy N. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MIDDLEBORO ASSOCIATES LLC, a 

  Massachusetts limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Charles E. Fitzgibbons

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Charles E.
  Fitzgibbons

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Manager

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Terrence C. Tedeschi

  
	
   

  	
   

  	
  TERRENCE C. TEDESCHI, as TRUSTEE OF 

  HANWELL NOMINEE TRUST and not 

  individually

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  COVE ROAD LLC, a Massachusetts limited 

  liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Tedeschi Realty Corporation, a 

  Massachusetts corporation, its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TEDESCHI NORWELL LLC, a Massachusetts

  limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Tedeschi Realty Corporation, a 

  Massachusetts corporation, its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
								

 

 96
 

 

	
  

  	
   

  	
  SKAKET ASSOCIATES LLC, a
  Massachusetts 

  limited liability company, as TRUSTEE OF 

  SKAKET ASSOCIATES NOMINEE TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Terrence
  C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Member

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Todd G.
  Thayer

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Todd G.
  Thayer

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Member

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SANDWICH ASSOCIATES LLC, a 

  Massachusetts limited liability company, as  

  TRUSTEE OF SANDWICH ASSOCIATES 

  NOMINEE TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Terrence C.
  Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Terrence
  C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Member

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TEDESCHI DARMAN COMPANY LLC, a 

  Massachusetts limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Terrence
  C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Manager

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  T. DELTA WEYMOUTH LLC, a Massachusetts

  limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Tedeschi Realty Corporation, a 

  Massachusetts corporation, its Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BEDFORD & SCHOOL LLC, a Massachusetts 

  limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Tedeschi Realty Corporation, a

  Massachusetts corporation, its Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name: Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title: President

  	
   

  
								

 

 97
 

 

	
  

  	
   

  	
  TD WHITMAN LLC, a
  Massachusetts limited 

  liability company, as TRUSTEE OF WHITMAN

  ASSOCIATES NOMINEE TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Terrence C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Terrence
  C. Tedeschi

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Manager

  	
   

  

 

 98
 

 

	
  

  	
   

  	
  PURCHASER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TRT
  ACQUISITIONS LLC,

  
	
   

  	
   

  	
  a Delaware
  limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a 

  Delaware limited liability company, its Sole 

  Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty  Operating

  Partnership LP, a Delaware limited

  partnership, its Sole Member

  
	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a

  Maryland corporation, its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Greg Moran

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Greg Moran

  
	
   

  	
   

  	
   

  	
  Title: Vice
  President

  

 

 99
 

RECEIPT
BY THE ESCROW AGENT

This Agreement,
fully executed by both the Sellers and the Purchaser, has been received by the
Escrow Agent this 7th day of June, 2007 and by execution hereof, Escrow Agent
hereby covenants and agrees to be bound by the terms of this Agreement that are
applicable to it.

	
   

  	
  ESCROW AGENT

  
	
   

  	
   

  
	
   

  	
  FIRST
  AMERICAN TITLE INSURANCE 

  COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Harry G.
  Stoddard

  	
   

  
	
   

  	
  Name: Harry G.
  Stoddard

  
	
   

  	
  Title:V.P.

  

 

 100Exhibit
10.26

PROMISSORY
NOTE

	
  $184,300,000.00

  	
   

  	
  New York, New York 

  As of August 1, 2007

  

 

FOR
VALUE RECEIVED, the undersigned, as maker, each having its
principal place of business at 518 17th
Street, Suite 1700, Denver, Colorado 80202, Attention: General Counsel (together with their respective successors
and permitted assigns, collectively, “Borrower”),
hereby unconditionally jointly and severally promise to pay to the order of LASALLE BANK NATIONAL ASSOCIATION, as
payee, having an address at 135 South LaSalle
Street, Suite 3410, Chicago, Illinois 60603 (“Lender”),
or at such other place as the holder hereof
may from time to time designate in writing, the principal sum of ONE HUNDRED EIGHTY-FOUR MILLION THREE HUNDRED THOUSAND AND 00/100
DOLLARS ($184,300,000.00), in lawful
money of the United States of America, with interest thereon to be computed
from the date of this Note at the Applicable Interest Rate, and to be paid in
accordance with the terms of this Note and that certain Loan Agreement
dated the date hereof between Borrower and
Lender (as the same may be amended, restated, replaced, supplemented or
otherwise modified from time to
time, the “Loan Agreement”).
All capitalized terms not defined herein shall have the respective meanings set
forth in the Loan Agreement.

ARTICLE
1: PAYMENT TERMS

Borrower
agrees to pay the principal sum of this Note and interest on the unpaid principal sum of this Note from time to time
outstanding at the rates and at the times specified in Article II of the Loan Agreement and the
outstanding balance of the principal sum of this Note and all accrued and
unpaid interest thereon shall be due and payable on the Maturity Date.

ARTICLE
2: DEFAULT AND ACCELERATION

The
Debt shall without notice become immediately due and payable at the option of Lender if any payment required in this Note is not
paid on or prior to the date when due or if not paid on the Maturity Date or on the happening of any other Event of
Default.

ARTICLE
3: LOAN DOCUMENTS

This
Note is secured by the Mortgage and the other Loan Documents. All of the terms,
covenants and conditions contained in the Loan Agreement, the Mortgage and the
other Loan Documents are hereby made
part of this Note to the same extent and with the same force as if they were fully set forth herein. In the event of
a conflict or inconsistency between the terms of this Note and the Loan
Agreement, the terms and provisions of the Loan Agreement shall govern.

ARTICLE
4: SAVINGS CLAUSE

Notwithstanding
anything to the contrary, (a) all agreements and communications between Borrower and Lender are hereby and shall
automatically be limited so that, after taking into account all amounts deemed interest, the interest contracted for,
charged or received by Lender

shall never exceed the Maximum
Legal Rate or amount, (b) in calculating whether any interest exceeds the
Maximum Legal Rate, all such interest shall be amortized, prorated, allocated
and spread over the full amount and
term of all principal indebtedness of Borrower to Lender, and (c) if through any contingency or event, Lender receives
or is deemed to receive interest in excess of the Maximum Legal Rate, any such excess shall be  deemed to have been applied toward
payment of the principal of any and all then outstanding indebtedness of
Borrower to Lender, or if there is no such
indebtedness, shall immediately be returned to Borrower.

ARTICLE
5: NO ORAL CHANGE

This
Note may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act
on the part of Borrower or Lender, 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.

ARTICLE
6: WAIVERS

Borrower
and all others who may become liable for the payment of all or any part of the Debt do hereby severally waive presentment
and demand for payment, notice of dishonor, notice of intention to accelerate,
notice of acceleration, protest and notice of protest and non-payment and all other notices of any kind. No
release of any security for the Debt or extension of time for payment of this Note or any installment
hereof, and no alteration, amendment or waiver of any provision of this Note, the Loan Agreement or
the other Loan Documents made by agreement between Lender or any other
Person shall release, modify, amend, waive, extend, change, discharge, terminate or affect the liability of
Borrower or any other Person who may become liable for the payment of all or any part of the Debt
under this Note, the Loan Agreement or the other Loan Documents. No notice to or demand on Borrower shall be deemed to be
a waiver of the obligation of Borrower or of the right of Lender to take
further action without further notice or demand as provided for in this
Note, the Loan Agreement or the other Loan Documents. If Borrower is a partnership or limited liability
company, the agreements herein contained shall remain in force and be applicable, notwithstanding any changes in the
individuals comprising the partnership
or limited liability company, and the term “Borrower,” as used herein, shall
include any alternate or successor
partnership or limited liability company, but any predecessor partnership or limited liability company and their partners or
members shall not thereby be released from any liability. If Borrower is a
corporation, the agreements contained herein shall remain in full force and be applicable notwithstanding any changes in
the shareholders comprising, or the officers and directors relating to, the corporation, and the term “Borrower,” as used
herein, shall include any alternative
or successor corporation, but any predecessor corporation shall not be relieved
of liability hereunder. (Nothing in the foregoing sentence shall be construed
as a consent to, or a waiver of, any prohibition or restriction on
transfers of interests in such partnership, limited liability company or corporation, which may be set forth in the Loan
Agreement, the Mortgage or any other
Loan Document.)

ARTICLE
7: TRANSFER

Upon
the transfer of this Note, Borrower hereby waiving prior notice of any such transfer, Lender may deliver all the collateral
mortgaged, granted, pledged or assigned pursuant to

the Loan Documents, or any part
thereof, to the transferee who shall thereupon become vested with all the rights herein or under applicable law
given to Lender with respect thereto, and Lender shall thereafter forever be relieved and fully
discharged from any liability or responsibility in the matter; but Lender shall retain all rights hereby given to
it with respect to any liabilities and the collateral not so transferred.
Unless and until Lender shall notify Borrower of any transfer of this Note,
Borrower shall be protected in continuing to make all payments due hereunder to
the last known holder of this Note.

ARTICLE
8: EXCULPATION

The
provisions of Section 11.22 of the Loan Agreement are hereby incorporated by
reference into this Note to the same extent and with the same force as if fully
set forth herein.

ARTICLE
9: GOVERNING LAW

THIS NOTE SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES. BORROWER HEREBY IRREVOCABLY SUBMITS
TO THE JURISDICTION OF ANY COURT OF
COMPETENT JURISDICTION LOCATED IN THE CITY OF NEW YORK AND STATE OF NEW YORK IN CONNECTION WITH ANY
PROCEEDING ARISING OUT OF OR
RELATING TO THIS NOTE AND THE OTHER LOAN DOCUMENTS.

ARTICLE
10: NOTICES

All
notices  or other written communications
hereunder shall be delivered in accordance
with Section 11.6 of the Loan Agreement.

[NO
FURTHER TEXT ON THIS PAGE]

IN WITNESS WHEREOF, Borrower has duly executed this
Note as of the day and year first above written.

	
  

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  TRT ABINGTON LLC, 

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware 

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland
  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT BRAINTREE LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT BROCKTON EASTWAY PLAZA LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT BROCKTON WESTGATE PLAZA LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT COHASSET LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT CRANSTON LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT HANOVER LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT HOLBROOK LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT HYANNIS  LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT KINGSTON LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT MANOMET LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT MANSFIELD LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT MERIDEN LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT NORTH HANOVER LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT ORLEANS LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT ROCKLAND 201 MARKET LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES
CONTINUE ON FOLLOWING PAGE]

 

	
  

  	
  TRT ROCKLAND 360-372 MARKET LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT SANDWICH LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT WEYMOUTH LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURES CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT WHITMAN 682 BEDFORD LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURE CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT WHITMAN 475 BEDFORD LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

 

	
  

  	
  TRT WHITMAN 682 BEDFORD LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

  
									

 

[SIGNATURE CONTINUE ON FOLLOWING
PAGE]

 

	
  

  	
  TRT WHITMAN 475 BEDFORD LLC,

  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TRT New England Retail Floating Rate Holdco LLC, 

  a Delaware limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  DCTRT Real Estate Holdco LLC, a Delaware

  limited liability company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Operating Partnership
  LP, a

  Delaware limited partnership, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Dividend Capital Total Realty Trust Inc., a Maryland

  corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Troy J. Bloom

  	
   

  
	
   

  	
   

  	
  Name: Troy J. Bloom 

  Title: Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]