Document:

8th Amend. to Purchase and Sale Agreement. Dated as of August 31, 2006.

 Exhibit 10.24 
 EIGHTH AMENDMENT TO 
 PURCHASE AND SALE AGREEMENT 
 THIS EIGHTH AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) dated as of August 31, 2006, is entered into by and between
KBS CLAYTON PLAZA, LLC, a Delaware limited liability company (“Buyer”), and THF PLAZA OFFICE, L.L.C., a Missouri limited liability company (“Seller”), with reference to the following recitals: 
 RECITALS 
 A. Seller and KBS
Capital Advisors LLC, a Delaware limited liability company (“Original Buyer”), have heretofore entered into that certain Purchase and Sale Agreement, dated May 2, 2006, as amended by that certain First Amendment to Purchase and
Sale Agreement, dated June 14, 2006, as further amended by that certain Second Amendment to Purchase and Sale Agreement dated July 6, 2006, as further amended by that certain Third Amendment to Purchase and Sale Agreement dated
July 20, 2006, as further amended by that certain Fourth Amendment to Purchase and Sale Agreement dated July 31, 2006 (the “Fourth Amendment”), as further amended by that certain Fifth Amendment to Purchase and Sale
Agreement dated August 21, 2006, as further amended by that certain Sixth Amendment to Purchase and Sale Agreement dated August 28, 2006, and as further amended by that certain Seventh Amendment to Purchase and Sale Agreement dated
August 29, 2006 (as amended, the “Purchase Agreement”). 
 B. Pursuant to that certain Assignment and Assumption of
Purchase Agreement, dated as of August 11, 2006 (the “Assignment and Assumption Agreement”), between Original Buyer and Buyer, Original Buyer assigned all of its interest in the Purchase Agreement to Buyer. All
initially-capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement unless the context clearly indicates otherwise. 
 C. Seller and Buyer mutually desire to amend the Purchase Agreement as provided below. 
 NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 AGREEMENT 
 1. Expiration of Due Diligence Period. Buyer acknowledges and agrees that it shall have no
further right to terminate the Purchase Agreement pursuant to Section 4.2.1 (b) or Section 5.3 of the Purchase Agreement. 
 2. Seller’s Closing Deliveries. 
 (a) Parking Easement Agreement. Seller and Buyer hereby agree that
Section Section 7.3(k) (Parking Easement Agreement) of the Purchase Agreement shall be deleted in its entirety and shall hereby be of no further force and effect, and all references in the Purchase Agreement to the term “Parking
Easement Agreement” shall be null and void and shall be of no further force and effect. 

 (b) ECR Amendment. Seller and Buyer hereby agree that the form of the ECR Amendment attached
hereto as Exhibit A and made a part hereof shall be the form of the ECR Amendment entered into by Seller and Buyer and delivered at Closing. 
 (c) Mutual Restriction Agreement. Seller and Buyer hereby agree that the form of the Mutual Restriction Agreement attached hereto as Exhibit B and made a part hereof shall be the form of the Mutual Restriction Agreement
entered into by Seller and Buyer and delivered at Closing. 
 (d) CCR Estoppel. Seller agrees that, as an additional condition
precedent to Buyer’s obligation to close the Transaction, Buyer shall be entitled to receive an executed original of the estoppel certificate attached hereto as Exhibit C and made a part hereof. 
 (e) Tenant Certifications. Seller agrees that, as an additional condition precedent to Buyer’s obligation to close the Transaction, Buyer
shall be entitled to receive executed Tenant Certifications (as defined in Paragraph 4 below) from the following tenants: Ernst & Young U.S. L.L.P.; Husch & Eppenberger, L.L.C.; Metropolitan Life Insurance Company; and
Northern Trust Bank, FSB. 
 (f) Carondelet Lefton Notice of Parking Agreement. Seller agrees that, as an additional condition
precedent to Buyer’s obligation to close the Transaction, Buyer shall be entitled to receive an executed original of the Carondelet Lefton parking notice attached hereto as Exhibit D and made a part hereof. 
 3. Approved Title Policy; Satisfaction of Title Policy Requirements. Notwithstanding anything stated to the contrary in the Purchase
Agreement, Seller agrees that, as an additional condition precedent to Buyer’s obligation to close the Transaction, the form of the Owner’s Title Policy to which Buyer shall be entitled shall be an Owner’s Title Policy in the form
contemplated by the Title Commitment attached hereto as Exhibit E and made a part hereof, together with all endorsements attached thereto. In furtherance of the foregoing, Seller hereby covenants and agrees to satisfy all of the requirements
set forth in Items 57-65, inclusive, and Items 67-71, inclusive, of the attached Title Commitment to enable Buyer to receive an Owner’s Title Policy in the form contemplated by the Title Commitment attached hereto as Exhibit D, except
that, as to Item 71 in the Title Commitment, it shall be Buyer’s obligation to pay all premiums relating to extended coverage and all indorsements requested by Buyer (which Buyer covenants to pay). 
 4. Updates to Tenant Estoppels. Notwithstanding anything to the contrary in the Purchase Agreement, within three (3) business days
after the date of this Amendment, Seller agrees to send tenant certifications (“Tenant Certifications”) to all of the tenants at the Property, which Tenant Certifications shall be in the form attached hereto as Exhibit F and
made a part hereof. Seller further agrees to use reasonable efforts to obtain and deliver to Buyer the signed Tenant Certifications from all of the tenants by no later than two (2) business days prior to the Closing Date. 
  

 2 

 5. Purchase Price Reduction. The Purchase Price shall be, and hereby is, reduced from
Ninety Five Million Fifty Thousand Dollars ($95,050,000.00) to Ninety Three Million Two Hundred Eighty Thousand Nine Hundred Forty Five Dollars ($93,280,945.00). 
 6. Extension of Closing Date. Notwithstanding anything stated to the contrary in Paragraph 3 of the Fourth Amendment, Buyer shall have the right to extend the Closing Date one or more times to a date not
later than October 12, 2006, provided that Buyer provides Seller with notice of each such extension no less than five (5) business days prior to the then applicable Closing Date (as the same may be extended from time to time pursuant to
the provisions of this Paragraph 6). 
 7. Completion of Capital Work; Extension of Parking Deck Membrane Warranty.
Notwithstanding anything stated to the contrary in the Purchase Agreement, Seller agrees that, as an additional condition precedent to Buyer’s obligation to close the Transaction, Seller shall cause, at Seller’s sole cost and expense,
(a) the warranty issued by Strongwall Industries, Inc. (“Strongwall”) for the parking deck membrane to be extended to December 31, 2010, and for the same to be assigned to Buyer (with Strongwall’s consent to the
extent required for such assignment to be effective and enforceable by Buyer), and (b) the capital work identified in Exhibit F attached hereto to be completed. 
 8. THF Management Lease. Buyer hereby acknowledges that Seller intends to terminate that certain Office Lease Agreement by and between
Seller and THF Management, Inc. dated January 21, 2003, and as amended by that certain First Amendment dated March 20, 2003 (as amended, the “THF Management Lease”) prior to the Closing. Buyer hereby consents to the
termination of the THF Management Lease. 
 9. Parking Easement Agreement. Buyer agrees that, as an additional condition
precedent to Seller’s obligation to close the Transaction, Seller shall be entitled to receive an executed original of the Parking Easement Agreement in the form attached hereto as Exhibit H and made a part hereof, which Parking Easement
Agreement shall be recorded in the official records of the county in which the Property is located. The location of the six (6) parking spaces for which an easement will be granted under the Parking Easement Agreement shall be mutually agreed
to between Seller and Buyer prior to Closing. 
 10. No Other Amendments; This Amendment Governs and Controls. Except as
expressly modified hereby, the Purchase Agreement shall remain unmodified and in full force and effect. To the extent any of the provisions of this Amendment are inconsistent with any of the provisions set forth in the Purchase Agreement, the
provisions of this Amendment shall govern and control. 
 11. Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same instrument. Each counterpart may be delivered by facsimile transmission. The signature page of any counterpart may be
detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto. 
 [SIGNATURES ON NEXT PAGE] 
  

 3 

 IN WITNESS WHEREOF, Buyer and Seller have executed this Amendment as of the day and year first above
written. 
  

									
	BUYER:
	
	KBS CLAYTON PLAZA, LLC,
	a Delaware limited liability company
		
	By:	 	KBS REIT ACQUISITION I, LLC,
		 	a Delaware limited liability company, its sole member
			
		 	By:	 	KBS Limited Partnership,
		 		 	a Delaware limited partnership, its sole member
				
		 		 	By:	 	KBS REAL ESTATE INVESTMENT TRUST, INC.,
		 		 		 	a Maryland corporation, general partner
					
		 		 		 	By:	 	 /s/ Charles J. Schreiber, Jr.

		 		 		 		 	Charles J. Schreiber, Jr.
		 		 		 		 	Chief Executive Officer

  

 S-1 

							
	SELLER:
	
	THF PLAZA OFFICE, L.L.C.,
	a Missouri limited liability company
		
	By:	 	THF Carondelet Development, L.L.C.,
		 	its sole member
			
		 	By:	 	THF Carondelet Investors, L.L.C.,
		 		 	its Manager
				
		 		 	By:	 	 /s/ Authorized SignatoryLoan Agreement. Dated as of September 18, 2006.

 Exhibit 10.25 
  
  

 LOAN AGREEMENT 
 Dated as of September 18, 2006 
 Between

 KBS CLAYTON PLAZA, LLC 
 as Borrower 
 And 
 GREENWICH CAPITAL FINANCIAL PRODUCTS, INC. 
 as Lender 
  

 TABLE OF CONTENTS 
  

									
	 	 	 	 	 	  	 	  	Page
	 1.
	 	DEFINITIONS; PRINCIPLES OF CONSTRUCTION	  	1
		 	 1.1
	 	Specific Definitions	  	1
		 	 1.2
	 	Index of Other Definitions	  	14
		 	 1.3
	 	Principles of Construction	  	16
			
	 2.
	 	GENERAL LOAN TERMS	  	16
		 	 2.1
	 	The Loan	  	16
		 	 2.2
	 	Interest; Monthly Payments	  	16
		 		 	 2.2.1
	  	Generally	  	16
		 		 	 2.2.2
	  	Default Rate	  	17
		 		 	 2.2.3
	  	Taxes	  	17
		 		 	 2.2.4
	  	New Payment Date	  	17
		 	 2.3
	 	Loan Repayment	  	17
		 		 	 2.3.1
	  	Repayment	  	17
		 		 	 2.3.2
	  	Mandatory Prepayments	  	18
		 		 	 2.3.3
	  	Defeasance	  	18
		 		 	 2.3.4
	  	Optional Prepayments	  	20
		 	 2.4
	 	Release of Property	  	20
		 		 	 2.4.1
	  	Release on Defeasance	  	20
		 		 	 2.4.2
	  	Release on Payment in Full	  	21
		 	 2.5
	 	Payments and Computations	  	21
		 		 	 2.5.1
	  	Making of Payments	  	21
		 		 	 2.5.2
	  	Computations	  	21
		 		 	 2.5.3
	  	Late Payment Charge	  	21
			
	 3.
	 	CASH MANAGEMENT AND RESERVES	  	21
		 	 3.1
	 	Cash Management Arrangements	  	21
		 	 3.2
	 	[intentionally deleted]	  	22
		 	 3.3
	 	Taxes and Insurance	  	22
		 	 3.4
	 	Capital Expense Reserves	  	23
		 	 3.5
	 	Rollover Reserve	  	23
		 	 3.6
	 	Operating Expense Subaccount	  	25
		 	 3.7
	 	Casualty/Condemnation Subaccount	  	26
		 	 3.8
	 	[Intentionally Omitted]	  	26
		 	 3.9
	 	Cash Collateral Subaccount	  	26
		 	 3.10
	 	Grant of Security Interest; Application of Funds	  	26
		 	 3.11
	 	Property Cash Flow Allocation	  	27
		 	 3.12
	 	Permitted REIT Distributions	  	28

  

 (i) 

									
	 4.
	 	REPRESENTATIONS AND WARRANTIES	  	29
		 	 4.1
	 	Organization; Special Purpose	  	29
		 	 4.2
	 	Proceedings; Enforceability	  	29
		 	 4.3
	 	No Conflicts	  	30
		 	 4.4
	 	Litigation	  	30
		 	 4.5
	 	Agreements	  	30
		 	 4.6
	 	Title	  	30
		 	 4.7
	 	No Bankruptcy Filing	  	31
		 	 4.8
	 	Full and Accurate Disclosure	  	31
		 	 4.9
	 	Tax Filings	  	31
		 	 4.10
	 	ERISA; No Plan Assets	  	32
		 	 4.11
	 	Compliance	  	32
		 	 4.12
	 	Contracts	  	32
		 	 4.13
	 	Federal Reserve Regulations; Investment Company Act	  	32
		 	 4.14
	 	Easements; Utilities and Public Access	  	33
		 	 4.15
	 	Physical Condition	  	33
		 	 4.16
	 	Leases	  	33
		 	 4.17
	 	Fraudulent Transfer	  	34
		 	 4.18
	 	Ownership of Borrower	  	34
		 	 4.19
	 	Purchase Options	  	34
		 	 4.20
	 	Management Agreement	  	34
		 	 4.21
	 	Hazardous Substances	  	34
		 	 4.22
	 	Name; Principal Place of Business	  	35
		 	 4.23
	 	Other Debt	  	35
			
	 5.
	 	COVENANTS	  	35
		 	 5.1
	 	Existence	  	35
		 	 5.2
	 	Taxes and Other Charges	  	36
		 	 5.3
	 	Access to Property	  	36
		 	 5.4
	 	Repairs; Maintenance and Compliance; Alterations	  	36
		 		 	 5.4.1
	  	Repairs; Maintenance and Compliance	  	36
		 		 	 5.4.2
	  	Alterations	  	36
		 	 5.5
	 	Performance of Other Agreements	  	37
		 	 5.6
	 	Cooperate in Legal Proceedings	  	37
		 	 5.7
	 	Further Assurances	  	37
		 	 5.8
	 	Environmental Matters	  	37
		 		 	 5.8.1
	  	Hazardous Substances	  	37
		 		 	 5.8.2
	  	Environmental Monitoring	  	38

  

 (ii) 

									
		 	 5.9
	 	Title to the Property	  	39
		 	 5.10
	 	Leases	  	40
		 		 	 5.10.1
	  	Generally	  	40
		 		 	 5.10.2
	  	Leasing	  	40
		 		 	 5.10.3
	  	Lease Execution and Modification	  	40
		 	 5.11
	 	Estoppel Statement	  	40
		 	 5.12
	 	Property Management	  	41
		 		 	 5.12.1
	  	Management Agreement	  	41
		 		 	 5.12.2
	  	Termination of Manager	  	42
		 	 5.13
	 	Special Purpose Bankruptcy Remote Entity	  	42
		 	 5.14
	 	Assumption in Non-Consolidation Opinion	  	42
		 	 5.15
	 	Change in Business or Operation of Property	  	42
		 	 5.16
	 	Debt Cancellation	  	42
		 	 5.17
	 	Affiliate Transactions	  	43
		 	 5.18
	 	Zoning	  	43
		 	 5.19
	 	No Joint Assessment	  	43
		 	 5.20
	 	Principal Place of Business	  	43
		 	 5.21
	 	Change of Name, Identity or Structure	  	43
		 	 5.22
	 	Indebtedness	  	43
		 	 5.23
	 	Licenses	  	43
		 	 5.24
	 	Compliance with Restrictive Covenants, Etc	  	44
		 	 5.25
	 	ERISA	  	44
		 	 5.26
	 	Prohibited Transfers	  	44
		 		 	 5.26.1
	  	Generally	  	44
		 		 	 5.26.2
	  	Transfer and Assumption	  	44
		 	 5.27
	 	Liens	  	46
		 	 5.28
	 	Dissolution	  	46
		 	 5.29
	 	Expenses	  	46
		 	 5.30
	 	Indemnity	  	47
		 	 5.31
	 	Patriot Act Compliance	  	48
			
	 6.
	 	NOTICES AND REPORTING	  	49
		 	 6.1
	 	Notices	  	49
		 	 6.2
	 	Borrower Notices and Deliveries	  	49
		 	 6.3
	 	Financial Reporting	  	50
		 		 	 6.3.1
	  	Bookkeeping	  	50
		 		 	 6.3.2
	  	Annual Reports	  	50
		 		 	 6.3.3
	  	Quarterly Reports	  	51
		 		 	 6.3.4
	  	Other Reports	  	51
		 		 	 6.3.5
	  	Annual Budget	  	52

  

 (iii) 

									
	 7.
	 	INSURANCE; CASUALTY; AND CONDEMNATION	  	52
		 	 7.1
	 	Insurance	  	52
		 		 	 7.1.1
	  	Coverage	  	52
		 		 	 7.1.2
	  	Policies	  	54
		 	 7.2
	 	Casualty	  	55
		 		 	 7.2.1
	  	Notice; Restoration	  	55
		 		 	 7.2.2
	  	Settlement of Proceeds	  	55
		 	 7.3
	 	Condemnation	  	56
		 		 	 7.3.1
	  	Notice; Restoration	  	56
		 		 	 7.3.2
	  	Collection of Award	  	56
		 	 7.4
	 	Application of Proceeds or Award	  	57
		 		 	 7.4.1
	  	Application to Restoration	  	57
		 		 	 7.4.2
	  	Application to Debt	  	57
		 		 	 7.4.3
	  	Procedure for Application to Restoration	  	57
			
	 8.
	 	DEFAULTS	  	58
		 	 8.1
	 	Events of Default	  	58
		 	 8.2
	 	Remedies	  	60
		 		 	 8.2.1
	  	Acceleration	  	60
		 		 	 8.2.2
	  	Remedies Cumulative	  	60
		 		 	 8.2.3
	  	[Intentionally Omitted]	  	61
		 		 	 8.2.4
	  	Delay	  	61
		 		 	 8.2.5
	  	Lender's Right to Perform	  	61
			
	 9.
	 	SPECIAL PROVISIONS	  	61
		 	 9.1
	 	Sale of Note and Secondary Market Transaction	  	61
		 		 	 9.1.1
	  	General; Borrower Cooperation	  	61
		 		 	 9.1.2
	  	Use of Information	  	62
		 		 	 9.1.3
	  	Borrower Obligations Regarding Disclosure Documents	  	63
		 		 	 9.1.4
	  	Borrower Indemnity Regarding Filings	  	63
		 		 	 9.1.5
	  	Indemnification Procedure	  	63
		 		 	 9.1.6
	  	Contribution	  	64
		 		 	 9.1.7
	  	[Intentionally Omitted]	  	64
		 		 	 9.1.8
	  	Severance of Loan	  	64
			
	 10.
	 	MISCELLANEOUS	  	65
		 	 10.1
	 	Exculpation	  	65
		 	 10.2
	 	Brokers and Financial Advisors	  	67

  

 (iv) 

							
		 	 10.3
	  	Retention of Servicer	  	67
		 	 10.4
	  	Survival	  	67
		 	 10.5
	  	Lender's Discretion	  	67
		 	 10.6
	  	Governing Law	  	68
		 	 10.7
	  	Modification, Waiver in Writing	  	68
		 	 10.8
	  	Trial by Jury	  	68
		 	 10.9
	  	Headings/Exhibits	  	69
		 	 10.10
	  	Severability	  	69
		 	 10.11
	  	Preferences	  	69
		 	 10.12
	  	Waiver of Notice	  	69
		 	 10.13
	  	Remedies of Borrower	  	69
		 	 10.14
	  	Prior Agreements	  	69
		 	 10.15
	  	Offsets, Counterclaims and Defenses	  	70
		 	 10.16
	  	Publicity	  	70
		 	 10.17
	  	No Usury	  	70
		 	 10.18
	  	Conflict; Construction of Documents	  	70
		 	 10.19
	  	No Third Party Beneficiaries	  	71
		 	 10.20
	  	Yield Maintenance Premium	  	71
		 	 10.21
	  	Assignment	  	71
		 	 10.22
	  	Certain Additional Rights of Lender	  	71
		 	 10.23
	  	Set-Off	  	72
		 	 10.24
	  	Counterparts	  	73

							
				
	Schedule 1	 		  	Form of Tenant Direction Letter	  	
	Schedule 2	 		  	Exceptions to Representations and Warranties	  	
	Schedule 3	 		  	Rent Roll	  	
	Schedule 4	 		  	Organization of Borrower	  	
	Schedule 5	 		  	Definition of Special Purpose Bankruptcy Remote Entity	  	

  

 (v) 

 LOAN AGREEMENT 
 THIS LOAN AGREEMENT dated as of September 18, 2006 (as the same may be modified, supplemented, amended or otherwise changed, this “Agreement”) is made between KBS CLAYTON PLAZA, LLC, a
Delaware limited liability company (together with its permitted successors and assigns, “Borrower”), and GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a Delaware corporation (together with its successors and assigns,
“Lender”). 
 1. DEFINITIONS; PRINCIPLES OF CONSTRUCTION 
 1.1 Specific Definitions. The following terms have the meanings set forth below: 
 Affiliate: as to any Person, any other Person that, directly or indirectly, is in Control of, is Controlled by or is under common Control
with such Person or is a director or officer of such Person or of an Affiliate of such Person. 
 Allocated Share: shall mean
at any time, and from time to time, an amount expressed as a percentage which is calculated by dividing the cost basis of the Property by the cost basis of all real property owned directly or indirectly by the REIT or the REIT Operating Partnership.

 Approved Asset Manager: An entity Controlled by Peter M. Bren or Charles J. Schreiber, including KBS Capital Advisors LLC,
or another entity reasonably acceptable to Lender. 
 Approved Capital Expenses: Capital Expenses incurred by Borrower,
provided that during a Cash Management Period, such Capital Expenses shall either be (i) included in the Approved Capital Budget for the current calendar month or (ii) approved by Lender. 
 Approved Leasing Expenses: actual out-of-pocket expenses incurred by Borrower and payable to third parties that are not Affiliates of
Borrower in leasing space at the Property pursuant to Leases entered into in accordance with the Loan Documents, including brokerage commissions and tenant improvements, which expenses (i) are (A) specifically approved by Lender in
connection with approving the applicable Lease, (B) incurred in the ordinary course of business and on market terms and conditions in connection with Leases which do not require Lender’s approval under the Loan Documents, or
(C) otherwise approved by Lender, which approval shall not be unreasonably withheld or delayed, and (ii) are substantiated by executed Lease documents and brokerage agreements. 
 Approved Major Lease Expenses: actual out-of-pocket expenses incurred by Borrower and payable to third parties that are not Affiliates of
Borrower in re-leasing space demised under a Major Lease at the Property pursuant to replacement Leases entered into in accordance with the Loan Documents, including brokerage commissions and tenant improvements. 

 Approved Mezzanine Lender: (i) GCM or (ii) a “Qualified Transferee” (as
such term is defined in the Intercreditor Agreement between Lender and GCM), (iii) a successor holder of the Mezzanine Loan that (A) prior to the occurrence of a Secondary Market Transaction, has been approved by Lender acting reasonably
or (B) after the occurrence of a Secondary Market Transaction, has obtained a Rating Comfort Letter with respect to the transfer of the Mezzanine Loan to such holder and has been approved by the Servicer or (iv) the lender under any other
Approved Mezzanine Loan that (A) prior to the occurrence of a Secondary Market Transaction, has been approved by Lender acting reasonably or (B) after the occurrence of a Secondary Market Transaction, has been approved by the Servicer and
the Rating Agencies. 
 Approved Mezzanine Loan: 
 (i) the Mezzanine Loan; 
 (ii) a loan from an Approved Mezzanine Lender to Mezzanine Loan
Borrower, the proceeds of which are used to refinance the Mezzanine Loan, provided that: (A) such loan shall be secured by the same collateral as the Mezzanine Loan; (B) the new Approved Mezzanine Lender and the Mezzanine Loan Documents
evidencing and securing such loan shall have been approved by (x) Lender in its reasonable discretion if such loan is made prior to the occurrence of a Secondary Market Transaction or (y) by the Servicer and the Rating Agencies if such
loan is made after the occurrence of a Secondary Market Transaction; (C) such loan shall be in an amount and have an interest rate that does not exceed the original principal amount and the interest rate of the Mezzanine Loan, and shall
otherwise be on terms and conditions that are not materially less favorable to the Mezzanine Loan Borrower than the terms and conditions of the Mezzanine Loan; (D) the term of such Approved Mezzanine Loan shall expire on the Stated Maturity
Date; (E) the Approved Mezzanine Lender shall enter into an intercreditor agreement in form and content substantially similar to the intercreditor agreement entered into between the holder of the Loan and the holder of the Mezzanine Loan; and
(F) if such refinancing of the Mezzanine Loan occurs after a Secondary Market Transaction, no such refinancing shall be permitted which would result in a downgrade, qualification or withdrawal of any of the ratings of any of the Securities
issued in such Secondary Market Transaction; and 
 (iii) a new loan from an Approved Mezzanine Lender to Mezzanine Loan Borrower,
provided that: (A) such loan shall be secured by the same or similar collateral as the Mezzanine Loan (including a pledge of all membership interests in the Mezzanine Borrower); (B) the new Approved Mezzanine Lender and the Mezzanine Loan
Documents evidencing and securing such loan shall have been approved by (x) Lender in its reasonable discretion if such loan is made prior to the occurrence of a Secondary Market Transaction or (y) by the Servicer and the Rating Agencies
if such loan is made after the occurrence of a Secondary Market Transaction; (C) such loan shall be in an amount and have an interest rate that does not exceed the original principal amount and the interest rate of the Mezzanine Loan;
(D) the term of such Approved Mezzanine Loan shall expire on the Stated Maturity Date; (E) the Combined Debt Service Coverage Ratio for the Loan and the new Mezzanine Loan shall be at least 1.00:1.00 determined by Lender in its reasonable
discretion in accordance with Lender’s and the Rating Agencies’ then current underwriting standards and adjustments; (F) the Approved Mezzanine Lender shall enter into an intercreditor agreement acceptable to (x) Lender if such
Approved Mezzanine Loan is made prior to the occurrence of a Secondary Market Transaction or (y) the 

  

 -2- 

 
Servicer and the Rating Agencies if such Approved Mezzanine Loan is made after the occurrence of a Secondary Market Transaction; and (G) if such
Approved Mezzanine Loan is made after a Secondary Market Transaction, no such Approved Mezzanine Loan shall be permitted which would result in a downgrade, qualification or withdrawal of any of the ratings of any of the Securities issued in such
Secondary Market Transaction. 
 Approved Operating Expenses: (a) during a Cash Management Period triggered by an Event of
Default or by the event referenced in clause (v) appearing in the definition of Cash Management Period, operating expenses incurred by Borrower which (i) are included in the Approved Operating Budget for the current calendar month,
(ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property or (iii) have been approved by Lender, which approval shall not be unreasonably withheld, and (b) during a
Cash Management Period not triggered by an Event of Default or by the event referenced in clause (v) appearing in the definition of Cash Management Period, all operating expenses incurred by Borrower. 
 Available Cash: as of each Payment Date during the continuance of a Cash Management Period, the amount of Rents, if any, remaining in the
Deposit Account after the application of all of the payments required under clauses (i) through (vii) of Section 3.11(a) hereof. 
 “Borrower’s Knowledge” the knowledge of Borrower or Sole Member or any of its respective directors, officers, members or employees. Such Borrower or Sole Member or any of its respective
directors, officers, members or employees shall be deemed to have knowledge of any applicable fact if (i) such Person has actual knowledge of such fact, or (ii) such Person has received a notification of such fact. 
 Business Day: any day other than a Saturday, Sunday or any day on which commercial banks in New York, New York are authorized or required
to close. 
 Capital Expenses: expenses that are capital in nature or required under GAAP to be capitalized. 
 Cash Management Period: shall commence upon Lender giving notice to the Clearing Bank of the occurrence of any of the following:
(i) an Event of Default hereunder, or (ii) an Event of Default (as such term is defined in the Mezzanine Loan Documents), or (iii) a default after the lapse of any applicable notice and cure period under any Approved Mezzanine Loan
other than the Mezzanine Loan, (iv) commencement of a Lease Sweep Period, or (v) the first day of the 13th
full calendar month after the date hereof unless the Mezzanine Loan is paid in full; and shall end upon Lender giving notice (and which Lender covenants to promptly give) to the Clearing Bank that the sweeping of funds into the Deposit Account may
cease, which notice Lender shall give promptly after (1) the Loan and all other obligations under the Loan Documents and any Approved Mezzanine Loan have been repaid in full, (2) with respect to the matters described in clause
(i) above, such Event of Default has been cured and no other Event of Default has occurred and is continuing, and (3) with respect to the matters described in clause (ii) above, such Event of Default has been cured and no other Event
of Default has occurred and is continuing, (4) with respect to the matters described in clause (iii) above, such default has been 

  

 -3- 

 
cured and no other such default has occurred and is continuing, (5) with respect to the matters described in clause (iv) above, such Lease Sweep
Period has terminated and no further Lease Sweep Period has commenced and is continuing, and (6) with respect to the matters described in clause (v) above, the Mezzanine Loan and all other obligations under the Mezzanine Loan Documents
have been repaid in full. 
 Code: the Internal Revenue Code of 1986, as amended and as it may be further amended from time to
time, any successor statutes thereto, and applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form. 
 Combined LTV: The relationship expressed as a percentage between (a) the aggregate of the Principal and the outstanding principal balance of any Approved Mezzanine Loan and (b) the appraised value of the
Property as determined by a then current MAI appraisal provided to Lender at Borrower’s expense and in form and substance and prepared by an MAI appraiser satisfactory to Lender. 
 Control: with respect to any Person, either (i) ownership directly or indirectly of 49% or more of all equity interests in such Person
or (ii) 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, by contract or otherwise. 
 Debt: the unpaid Principal, all interest accrued and unpaid thereon, any Yield Maintenance Premium and all other sums due to Lender in
respect of the Loan or under any Loan Document. 
 Debt Service: with respect to any particular period, the scheduled
Principal and interest payments due under the Note in such period. 
 Combined Debt Service Coverage Ratio: as of any date, the
ratio calculated by Lender of (i) the Net Operating Income for the twelve (12)-month period ending with the most recently completed calendar month to (ii) the aggregate of the Debt Service on the Loan anticipated to come due on the Loan
during the succeeding 12-month period and the scheduled principal and interest payments anticipated to come due on the Approved Mezzanine Loan during the succeeding 12-month period. 
 Default: the occurrence of any event under any Loan Document which, with the giving of notice or passage of time, or both, would be an
Event of Default. 
 Default Rate: a rate per annum equal to the lesser of (i) the maximum rate permitted by applicable
law, or (ii) five percent (5%) above the Interest Rate, compounded monthly. 
 Defeasance Collateral: U.S.
Obligations, which provide payments (i) on or prior to, but as close as possible to, all Payment Dates and other scheduled payment dates, if any, under the Note after the Defeasance Date and up to and including the Stated Maturity Date, and
(ii) in amounts equal to or greater than the Scheduled Defeasance Payments. 
  

 -4- 

 Deposit Bank: Wachovia Bank, National Association, or such other bank or depository
selected by Lender in its discretion. 
 Eligible Account: a separate and identifiable account from all other funds held by the
holding institution that is either (i) an account or accounts (A) maintained with a federal or state-chartered depository institution or trust company which complies with the definition of Eligible Institution or (B) as to which
Lender has received a Rating Comfort Letter from each of the applicable Rating Agencies with respect to holding funds in such account, or (ii) a segregated trust account or accounts maintained with the corporate trust department of a federal
depository institution or state chartered depository institution subject to regulations regarding fiduciary funds on deposit similar to Title 12 of the Code of Federal Regulations §9.10(b), having in either case corporate trust powers, acting
in its fiduciary capacity, and a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal and state authorities. An Eligible Account will not be evidenced by a certificate of deposit, passbook or
other instrument. 
 Eligible Institution: a depository institution insured by the Federal Deposit Insurance Corporation the
short term unsecured debt obligations or commercial paper of which are rated at least A-1 by S&P, P-1 by Moody’s and F-1+ by Fitch, in the case of accounts in which funds are held for thirty (30) days or less or, in the case of Letters
of Credit or accounts in which funds are held for more than thirty (30) days, the long term unsecured debt obligations of which are rated at least “AA” by Fitch and S&P and “Aa2” by Moody’s. 
 ERISA: the Employment Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated
thereunder. 
 ERISA Affiliate: all members of a controlled group of corporations and all trades and business (whether or not
incorporated) under common Control and all other entities which, together with Borrower, are treated as a single employer under any or all of Section 414(b), (c), (m) or (o) of the Code. 
 Future Required Repairs: all repairs and capital improvements to the Property required to maintain and operate the Property, required to
comply with any Leases or required to comply with applicable law. 
 GAAP: generally accepted accounting principles in the
United States of America as of the date of the applicable financial report. 
 GCM: Greenwich Capital Financial Products, Inc.

 Governmental Authority: any court, board, agency, commission, office or authority of any nature whatsoever or any
governmental unit (federal, state, county, district, municipal, city or otherwise) now or hereafter in existence. 
 Interest
Period: (i) the period from the date on which the Loan is funded through the first day thereafter that is the fifth day of the next succeeding calendar month and (ii) each period thereafter from the sixth day of each calendar month
through the fifth day of the next 

  

 -5- 

 
succeeding calendar month; except that the Interest Period, if any, that would otherwise commence before and end after the Maturity Date shall end on the
Maturity Date. Notwithstanding the foregoing, if Lender exercises its right to change the Payment Date to a New Payment Date in accordance with Section 2.2.4 hereof, then from and after such election, each Interest Period shall be the
period from the New Payment Date in each calendar month through the day immediately preceding the next succeeding New Payment Date. 
 Interest Rate: a rate of interest equal to 5.899% per annum (or, when applicable pursuant to this Agreement or any other Loan Document, the Default Rate). 
 Leases: all leases and other agreements or arrangements heretofore or hereafter entered into affecting the use, enjoyment or occupancy of,
or the conduct of any activity upon or in, the Property or the Improvements, including any guarantees, extensions, renewals, modifications or amendments thereof and all additional remainders, reversions and other rights and estates appurtenant
thereunder. 
 Lease Sweep Period: the period which shall commence and end as hereinafter provided: 
 A Lease Sweep Period shall commence on the first Payment Date following the occurrence of any of the following: 
 (i) the date required under a Major Lease by which the applicable Major Tenant is required to give notice of its exercise of a renewal
option thereunder (and such renewal has not been so exercised), or 
 (ii) the date that is nine (9) months prior to the
end of the then existing term of any Major Lease and such renewal has not been so exercised. 
 A Lease Sweep Period shall end upon the
earlier to occur of (x) sufficient funds having accumulated in the Rollover Reserve Subaccount to pay for all anticipated expenses in connection with the re-leasing of the space under the applicable Major Lease that gave rise to the subject
Lease Sweep Period, including brokerage commissions and tenant improvements, or (y) upon the earlier to occur of (A) the date on which the subject Major Tenant irrevocably exercises its renewal or extension option (or otherwise enters into
an extension agreement with Borrower and acceptable to Lender) with respect to all of the space demised under its Major Lease, or (B) the date on which all of the space demised under the subject Major Lease that gave rise to the subject Lease
Sweep Period has been fully leased pursuant to a replacement Lease or replacement Leases, and all Approved Major Lease Expenses (and any other expenses in connection with the re-tenanting of such space) have been paid in full. 
 Lease Termination Payments: (i) all fees, penalties, commissions or other payments made to Borrower in connection with or relating to
the rejection, buy-out, termination, surrender or cancellation of any Lease (including in connection with any bankruptcy proceeding), (ii) any security deposits or proceeds of letters of credit held by Borrower in lieu of cash security
deposits, which Borrower is permitted to retain pursuant to the applicable provisions of any Lease and (iii) any payments made to Borrower relating to unamortized tenant improvements and leasing commissions under any Lease. 
  

 -6- 

 Legal Requirements: statutes, laws, rules, orders, regulations, ordinances, judgments,
decrees and injunctions of Governmental Authorities affecting Borrower, any Loan Document or all or part of the Property or the construction, ownership, use, alteration or operation thereof, whether now or hereafter enacted and in force, and all
permits, licenses and authorizations and regulations relating thereto, and all covenants, agreements, restrictions and encumbrances contained in any instrument, either of record or known to Borrower, at any time in force affecting all or part of the
Property. 
 Lien: any mortgage, deed of trust, lien (statutory or otherwise), pledge, hypothecation, easement, restrictive
covenant, preference, assignment, security interest or any other encumbrance, charge or transfer of, or any agreement to enter into or create any of the foregoing, on or affecting all or any part of the Property or any interest therein, or any
direct or indirect interest in Borrower or Sole Member, including any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, the filing of any financing
statement, and mechanic’s, materialmen’s and other similar liens and encumbrances. 
 Loan Documents: this Agreement
and all other documents, agreements and instruments now or hereafter evidencing, securing or delivered to Lender in connection with the Loan, including the following, each of which is dated as of the date hereof: (i) the Promissory Note or
Promissory Notes made by Borrower to Lender in the aggregate principal amount equal to the Loan (the “Note”), (ii) the Mortgage, Assignment of Leases and Rents and Security Agreement made by Borrower (or the Deed of
Trust, Assignment of Leases and Rents and Security Agreement made by Borrower to a trustee, as the case may be) in favor of Lender which covers the Property (the “Mortgage”), (iii) Assignment of Leases and Rents from
Borrower to Lender, (iv) Assignment of Agreements, Licenses, Permits and Contracts from Borrower to Lender, (v) the Deposit Account Control Agreement (the “Clearing Account Agreement”) among Borrower, Lender,
Manager and Clearing Bank, and (vi) the Deposit Account Agreement (the “Deposit Account Agreement”) among Borrower, Lender, Manager and the Deposit Bank; and as each of the foregoing may be (and each of the foregoing
defined terms shall refer to such documents as they may be) amended, restated, replaced, severed, split, supplemented or otherwise modified from time to time (including pursuant to Section 9.1.8 hereof). 
 Major Lease: collectively, that certain Office Lease between Husch & Eppenberger, LLC and Borrower (as successor in interest to
THF Carondelet Development, L.L.C.), dated April 24, 2001, as amended from time to time, and that certain Office Lease between Ernst & Young U.S. LLP and Borrower (as successor in interest to THF Carondelet Development, L.L.C.), dated
March 3, 2000, as amended from time to time. 
 Major Tenant: any tenant under either Major Lease. 
 Management Agreement: the Property Management Agreement dated September 19, 2006 between Borrower and Manager, pursuant to which
Manager is to manage the Property, as same may be amended, restated, replaced, supplemented or otherwise modified from time to time in accordance with Section 5.12 hereof. 
  

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 Manager: CB RICHARD ELLIS, INC., a Delaware corporation, or any successor, assignee or
replacement manager appointed by Borrower in accordance with Section 5.12 hereof. 
 Material Adverse
Effect: occurrence or existence of a condition or event which would have a material adverse effect on (i) the business, profits, operations or financial condition of Borrower, (ii) the ability of Borrower to pay any amounts
under the Loan Documents as they become due or (iii) the value of the Property. 
 Material Alteration: any alteration
affecting structural elements of the Property the cost of which exceeds $1,000,000; provided, however, that in no event shall (i) any Future Required Repairs, (ii) any tenant improvement work performed pursuant to any Lease existing on the
date hereof or entered into hereafter in accordance with the provisions of this Agreement, or (iii) alterations performed as part of a Restoration, constitute a Material Alteration. 
 Material Lease: all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates (i) cover more
than 10,000 square feet of the Improvements or (ii) have a term of more than five years (not taking into account any extension options). 
 Maturity Date: the date on which the final payment of principal of the Note becomes due and payable as therein provided, whether at the Stated Maturity Date, by declaration of acceleration, or otherwise. 
 Mezzanine Loan: that certain mezzanine loan in the principal amount of $22,300,000 made by GCM to Mezzanine Loan Borrower concurrently with
the Loan, and evidenced and secured by the Mezzanine Loan Documents. 
 Mezzanine Loan Borrower: KBS REIT Acquisition I, LLC, a
Delaware limited liability company. 
 Mezzanine Loan Documents: (i) that certain Mezzanine Loan Agreement of even date
herewith between GCM and Mezzanine Loan Borrower, (ii) that certain Promissory Note of even date herewith in the original principal amount of the Mezzanine Loan made by Mezzanine Loan Borrower and payable to GCM (and any successor holder of the
Mezzanine Loan), (iii) that certain Pledge and Security Agreement of even date herewith made by Mezzanine Loan Borrower in favor of GCM, (iv) the Guaranty of Recourse Obligations made by Guarantor (v) each UCC Financing Statement
executed by Mezzanine Loan Borrower in favor of GCM in connection with the foregoing and (vi) any other “Loan Document” as defined in the Mezzanine Loan Agreement referred to in clause (i) above, as each of the foregoing may be
modified, amended and restated from time to time in accordance with the terms and provisions of the Intercreditor Agreement of even date herewith between Lender and GCM. Without limiting the foregoing, the term Mezzanine Loan Documents shall also
include all documents, agreements or instruments evidencing, securing or delivered to an Approved Mezzanine Lender in connection with any Approved Mezzanine Loan. 
  

 -8- 

 Mezzanine Loan Liens: (i) the Liens in favor of the holder of the Mezzanine Loan
created pursuant to the Mezzanine Loan Documents and (ii) Liens on the membership interests held by Mezzanine Loan Borrower in Borrower pursuant to any other Approved Mezzanine Loan. 
 Monthly Mezzanine Debt Service Payment: an amount equal to the scheduled payment of principal and interest payable by Mezzanine Loan
Borrower on the Mezzanine Loan. 
 Net Operating Income: for any period, the net operating income of the Property determined in
accordance with GAAP. 
 Officer’s Certificate: a certificate delivered to Lender by Borrower or the REIT, as the case may
be which is signed by an authorized person on behalf of such party. 
 Other Charges: all ground rents, maintenance charges,
impositions other than Taxes, and any other charges, including vault charges and license fees for the use of vaults, chutes and similar areas adjoining the Property, now or hereafter levied or assessed or imposed against the Property or any part
thereof. 
 Payment Date: the sixth day of each calendar month or, upon Lender’s exercise of its right to change the
Payment Date in accordance with Section 2.2.4 hereof, the New Payment Date (in either case, if such day is not a Business Day, the Payment Date shall be the first Business Day thereafter). 
 Permitted Encumbrances: (i) the Liens created by the Loan Documents, (ii) all Liens and other matters disclosed in the Title
Insurance Policy, (iii) Liens, if any, for Taxes or Other Charges not yet delinquent, (iv) any workers’, mechanics’ or other similar Liens on the Property provided that any such Lien is bonded or discharged within sixty
(60) days after Borrower first receives notice of such Lien, (v) such other title and survey exceptions as Lender approves in writing in Lender’s discretion, (vi) the Mezzanine Loan Liens and (vii) Liens incurred by REIT
Operating Partnership or any Person having any direct or indirect ownership interest in REIT Operating Partnership. 
 Permitted REIT
Distributions: distributions (directly or indirectly) by Borrower to the REIT to the extent that, if not distributed to the REIT: 
 (i) the REIT would, as the result of the failure of Borrower to receive cash from the Property, be unable to distribute all REIT taxable income with respect to the Property; or 
 (ii) the REIT would, solely as a result of the failure of Borrower to receive cash from the Property, fail to satisfy its obligations to
pay the Permitted REIT Operating Expenses after exhausting all other REIT resources available to pay such expenses. 
 Permitted REIT
Operating Expenses: the Allocated Share of all actual costs, expenses and/or amounts incurred by, or payable or reimbursable by, the REIT or the REIT Operating Partnership for any of the following: (a) charges and fees charged by banks,
audit fees, 

  

 -9- 

 
tax preparation fees, legal fees (not including any legal fees incurred by Borrower at the property level or in any litigation or legal matter concerning
Lender, including a bankruptcy filing affecting Borrower), accounting consulting fees related to emerging technical pronouncements, tax consulting fees relating to real estate investment trust issues, due diligence costs and fees arising from state
and local taxes, fees and expenses incurred in connection with annual corporate filings, and local, state and federal income taxes, (b) professional fees related to corporate structuring and/or filings, consulting fees and filing fees arising
from SEC reporting requirements including, without limitation, 10K filings, 10Q filings, and 8k filings, consulting fees and other fees and costs related to Sarbanes - Oxley 404 compliance requirements. 
 For purposes of calculating Permitted REIT Distributions, Permitted REIT Operating Expenses (i) may be included in the calculation of Permitted REIT
Distributions only to the extent that funds are not available from resources of the REIT other than the Property to pay such Permitted REIT Operating Expenses, (ii) shall include, without limitation, annual depreciation in an amount not less
than $1,964,367, and (iii) shall not exceed $75,000 in any calendar year. 
 Permitted Transfers: 
 (i) a Lease entered into in accordance with the Loan Documents; or 
 (ii) a Permitted Encumbrance; or 
 (iii) a Transfer and Assumption; or 
 (iv) provided that no Default or Event of Default shall
then exist, a transfer or encumbrance of any indirect (but not any direct) interest in Borrower (including, without limitation, the transfer or encumbrance of any interest in KBS Limited Partnership, KBS REIT Holdings LLC, or the REIT) provided
that: 
 (A) such transfer or encumbrance shall not (x) result in both Charles J. Schreiber, Jr. and Peter M. Bren no
longer Controlling the Approved Asset Manager or (y) result in Approved Asset Manager no longer being the sole asset manager of the REIT and solely responsible for the day-to-day management, operating, direction and supervision of the
operations and administration of the REIT and its assets pursuant to that certain Advisory Agreement dated as of November 8, 2005, between Approved Asset Manager and the REIT; 
 (B) after giving effect to such Transfer, the REIT (or an Approved Mezzanine Lender) shall continue to own at least 51% of all equity
interests (direct or indirect) in Borrower and the Approved Asset Manager shall continue to Control Borrower; and 
 (C)
Borrower shall give Lender notice of such Transfer together with copies of all instruments effecting such Transfer not less than ten (10) days prior to the date of such Transfer. 
  

 -10- 

 Person: any individual, corporation, partnership, limited liability company, joint venture,
estate, trust, unincorporated association, any other person or entity, and any federal, state, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such capacity on behalf of any of the foregoing.

 Plan: (i) an employee benefit or other plan established or maintained by Borrower or any ERISA Affiliate or to which
Borrower or any ERISA Affiliate makes or is obligated to make contributions and (ii) which is subject to Title IV of ERISA or Section 302 of ERISA or Section 412 of the Code. 
 Property: the parcel of real property and Improvements thereon owned by Borrower and encumbered by the Mortgage; together with all rights
pertaining to such real property and Improvements, and all other collateral for the Loan as more particularly described in the Granting Clauses of the Mortgage and referred to therein as the Trust Property. The Property is located in Clayton,
Missouri. 
 Rating Agency: each of Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.
(“S&P”), Moody’s Investors Service, Inc. (“Moody’s”), and Fitch, Inc., a division of Fitch Ratings Ltd. (“Fitch”) or any other nationally-recognized statistical
rating organization to the extent any of the foregoing have been engaged by Lender or its designee in connection with or in anticipation of any Secondary Market Transaction. 
 Rating Comfort Letter: a letter issued by each of the applicable Rating Agencies which confirms that the taking of the action referenced to
therein will not result in any qualification, withdrawal or downgrading of any existing ratings of Securities created in a Secondary Market Transaction. 
 REIT: KBS Real Estate Investment Trust, Inc., a Maryland corporation. 
 REIT Operating Partnership: KBS Limited Partnership, a Delaware limited partnership. 
 Release
Date: the earlier to occur of (i) the forty second (42nd) Payment Date of the Term and (ii) the date that is two (2) years from the “startup day” (within the meaning of Section 860G(a)(9) of the Code) of
the REMIC Trust established in connection with the final Secondary Market Transaction involving this Loan. 
 REMIC Trust: a
“real estate mortgage investment conduit” within the meaning of Section 860D of the Code that holds the Note. 
 Rents: all rents, rent equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in a Bankruptcy Proceeding) or in lieu of rent or rent equivalents, royalties (including all oil and gas
or other mineral royalties and bonuses), income, fees, receivables, receipts, revenues, deposits (excluding security, utility and other deposits until such deposits are forfeited to Borrower or Manager by the Person that made such deposit),
accounts, cash, issues, profits, charges for services rendered, and other payment and consideration of whatever form or nature received by or paid to or for the account of or benefit of 

  

 -11- 

 
Borrower, Manager or any of their agents or employees from any and all sources arising from or attributable to the Property and the Improvements, including
all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of
the Property or rendering of services by Borrower, Manager or any of their agents or employees and proceeds, if any, from business interruption or other loss of income insurance. 
 Scheduled Defeasance Payments: the Monthly Debt Service Payment Amount required under the Note for all Payment Dates occurring after the
Defeasance Date (including the outstanding Principal balance on the Note as of the Stated Maturity Date). 
 Security
Agreement: a security agreement in form and substance satisfactory to Lender (in Lender’s sole but good faith discretion) pursuant to which Borrower grants Lender a perfected, first priority security interest in the Defeasance
Collateral Account and the Defeasance Collateral. 
 Servicer: a servicer selected by Lender to service the Loan, including any
“master servicer” or “special servicer” appointed under the terms of any pooling and servicing agreement or similar agreement entered into as a result of a Secondary Market Transaction. 
 Sole Member: KBS REIT Acquisition I LLC, a Delaware limited liability company, the sole member of Borrower. 
 State: the state in which the Property is located. 
 Stated Maturity Date: October 6, 2016, as such date may be changed in accordance with Section 2.2.4 hereof. 
 Taxes: all real estate and personal property taxes, assessments, water rates or sewer rents, maintenance charges, impositions, vault charges and license fees, now or hereafter levied or assessed or
imposed against all or part of the Property. 
 Term: the entire term of this Agreement, which shall expire upon repayment in
full of the Debt and full performance of each and every obligation to be performed by Borrower pursuant to the Loan Documents. 
 Title
Insurance Policy: the ALTA mortgagee title insurance policy in the form acceptable to Lender issued with respect to the Property and insuring the Lien of the Mortgage. 
 Transfer: (i) any sale, conveyance, transfer, lease or assignment, or the entry into any agreement to sell, convey, transfer, lease or
assign, whether by law or otherwise, of, on, in or affecting (x) all or part of the Property (including any legal or beneficial direct or indirect interest therein), (y) any direct or indirect interest in Borrower (including any profit
interest), or (z) any direct or indirect interest in Sole Member or (ii) any change of Control of Borrower or Sole Member. 
  

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 For purposes hereof: 
 (i) a Transfer of an interest in Borrower or Sole Member shall be deemed to include: 
 (A) if
Borrower or Sole Member or controlling shareholder of Borrower or Sole Member is a corporation, the voluntary or involuntary sale, conveyance or transfer of such corporation’s stock (or the stock of any corporation directly or indirectly
controlling such corporation by operation of law or otherwise) or the creation or issuance of new stock in one or a series of transactions by which an aggregate of more than ten percent (10%) of such corporation’s stock shall be vested in
a party or parties who are not now stockholders or any change in the Control of such corporation; and 
 (B) if Borrower, Sole Member
or controlling shareholder of Borrower or Sole Member is a limited or general partnership, joint venture or limited liability company, the change, removal, resignation or addition of a general partner, managing partner, limited partner, joint
venturer or member or the transfer of the partnership interest of any general partner, managing partner or limited partner or the transfer of the interest of any joint venturer or member; and 
 (ii) a change of Control of Borrower or Sole Member shall be deemed to have occurred if: 
 (A) there is any change in the identity of any individual or entity or any group of individuals or entities who have the right, by virtue of any
partnership agreement, articles of incorporation, by-laws, articles of organization, operating agreement or any other agreement, with or without taking any formative action, to cause Borrower (or Sole Member) to take some action or to prevent,
restrict or impede Borrower (or Sole Member) from taking some action which, in either case, Borrower (or Sole Member) could take or could refrain from taking were it not for the rights of such individuals, or 
 (B) the individual or entity or group of individuals or entities that Control Borrower (and Sole Member) as described in clause (A) ever cease
to own at least fifty-one percent (51%) of all equity interests (direct or indirect) in Borrower (and Sole Member). 
 UCC: the Uniform Commercial Code as in effect in the State or the state in which any of the Cash Management Accounts are located, as the case may be. 
 U.S. Obligations: obligations that are “government securities” within the meaning of Section 2(a)(16) of the
Investment Company Act of 1940, as amended, and, to the extent acceptable to the applicable Rating Agencies, other non-callable government securities satisfying the REMIC Provisions (hereinafter defined) (which may include so-called “agency
securities” including (a) Government National Mortgage Association (“GNMA”) straight pass-through certificates; (b) fully-modified GNMA pass-through certificates; (c) Federal Home Loan Mortgage Corporation
(“FHLMC”) pass-through certificates; and (d) Federal National Mortgage Association (“FNMA”) straight pass-through certificates), but only to the extent in each case (i) such obligations are not subject to prepayment,
call or early redemption, (ii) such obligations qualify as a “real estate asset” under section 856(c)(4)(A) of the Code; and (iii) the interest income generated by such obligations qualify as “interest on obligations secured
by mortgages 

  

 -13- 

 
on real property or on interests in real property” under section 856(c)(3)(B) of the Code. As used herein, “REMIC Provisions”
mean provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of Subtitle A of the Code, and related provisions, and temporary and
final regulations and, to the extent not inconsistent with such temporary and final regulations, proposed regulations, and published rulings, notices and announcements promulgated thereunder, as the foregoing may be in effect from time to time.

 Welfare Plan: an employee welfare benefit plan, as defined in Section 3(1) of ERISA. 
 Yield Maintenance Premium: an amount which, when added to the outstanding Principal, would be sufficient to purchase U.S. Obligations which
provide payments (a) on or prior to, but as close as possible to, all successive scheduled payment dates under this Agreement through the Stated Maturity Date and (b) in amounts equal to the Monthly Debt Service Payment Amount required
under this Agreement through the Stated Maturity Date together with the outstanding principal balance of the Note as of the Stated Maturity Date assuming all such Monthly Debt Service Payment Amounts are made (including any servicing costs
associated therewith). In no event shall the Yield Maintenance Premium be less than zero. 
 1.2 Index of Other Definitions.
The following terms are defined in the sections or Loan Documents indicated below: 
 “Additional TI Amount “ - 3.5 
 “Annual Budget “ - 6.3.5 
 “Applicable Taxes” -
2.2.3 
 “Approved Annual Budget “ - 6.3.5 
 “Approved Capital Budget” - 6.3.5 
 “Approved Operating Budget” - 6.3.5 
 “Award” - 7.3.2 
 “Bankruptcy Proceeding” - 4.7

 “Borrower’s Recourse Liabilities” - 10.1 
 “Capital Reserve Subaccount” - 3.4 
 “Cash Collateral Subaccount” - 3.9 
 “Cash Management Accounts” - 3.10 
 “Casualty” -
7.2.1 
 “Casualty/Condemnation Prepayment” - 2.3.2 
 “Casualty/Condemnation Subaccount” - 3.7 
 “Clearing Account” - 3.1 
 “Clearing Account Agreement” - 1.1 (Definition of Loan Documents) 
 “Clearing Bank” - 3.1 
 “Condemnation” - 7.3.1 
 “Defeasance Collateral Account” - 2.3.3 
 “Defeasance Event” - 2.3.3 
 “Defeasance Date” - 2.3.3 
 “Deposit Account” -
3.1 
 “Deposit Account Agreement” - 1.1 (Definition of Loan Documents) 
  

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 “Disclosure Document” - 9.1.2 
 “Easements” - 4.14 
 “Endorsement” - 5.26 
 “Environmental Laws” - 4.21 
 “Equipment” -
Mortgage 
 “Event of Default” - 8.1 
 “Exchange Act” - 9.1.2 
 “Fitch” - 1.1 (Definition of Rating Agency) 
 “GCM Group” - 9.1.3 
 “Government Lists” - 5.31

 “Hazardous Substances” - 4.21 
 “Improvements” - Mortgage 
 “Indemnified Liabilities” - 5.30 
 “Indemnified Party” - 5.30 
 “Independent
Director” - Schedule 5 
 “Insurance Premiums” - 7.1.2 
 “Insured Casualty” - 7.2.2 
 “Issuer” - 9.1.3 
 “Late Payment Charge” - 2.5.3 
 “Lender’s
Consultant” - 5.8.1 
 “Liabilities” - 9.1.3 
 “Licenses” - 4.11 
 “Loan” - 2.1 
 “Monthly Debt Service Payment Amount” - 2.2.1 
 “Moody’s” - 1.1 (Definition of Rating
Agency) 
 “Mortgage” - 1.1 (Definition of Loan Documents) 
 “New Payment Date” - 2.2.4 
 “Note” - 1.1 (Definition of Loan Documents) 
 “Notice” - 6.1 
 “O & M Program” -
5.8.3 
 “OFAC” - 5.31 
 “Operating
Expense Subaccount” - 3.6 
 “Patriot Act” - 5.31 
 “Patriot Act Offense” - 5.31 
 “Permitted Indebtedness” - 5.22 
 “Permitted Investments” - Deposit Account Agreement 
 “Permitted Prepayment Date” - 2.3.4 
 “Policies” - 7.1.2 
 “Principal” - 2.1 
 “Proceeds” - 7.2.2

 “Projection Period” - 3.12 
 “Proposed Material Lease” - 5.10.2 
 “Provided Information” - 9.1.1 
 “Qualified Carrier” - 7.1.1 
 “Registration
Statement” - 9.1.3 
 “REIT Distribution Notice” - 3.12 
  

 -15- 

 “Remedial Work” - 5.8.2 
 “REMIC Provisions” - 1.1 (Definition of U.S. Obligations) 
 “Rent Roll” - 4.16 

“Required Records” - 6.3.6 
 “Restoration” -
7.4.1 
 “S&P” - 1.1 (Definition of Rating Agency) 
 “Secondary Market Transaction” - 9.1.1 
 “Securities” - 9.1.1 
 “Securities Act” - 9.1.2 
 “Security Deposit
Account” - 3.8 
 “Security Deposit Subaccount” - 3.8 
 “Significant Casualty” - 7.2.2 
 “Special Purpose Bankruptcy Remote Entity” - 5.13

 “Rollover Reserve Subaccount” - 3.5 
 “Springing Recourse Event” - 10.1 
 “Subaccounts” - 3.1 
 “Successor Borrower” - 2.3.3 
 “Tax and Insurance
Subaccount” - 3.3 
 “Toxic Mold” - 4.21 
 “Transfer and Assumption” - 5.26 
 “Transferee Borrower” - 5.26 
 “Underwriter Group” - 9.1.3 
 “Underwriters” -
9.1.3 
 1.3 Principles of Construction. Unless otherwise specified, (i) all references to sections and schedules are
to those in this Agreement, (ii) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision, (iii) all definitions are
equally applicable to the singular and plural forms of the terms defined, (iv) the word “including” means “including but not limited to,” and (v) accounting terms not specifically defined herein shall be construed in
accordance with GAAP. 
 2. GENERAL LOAN TERMS 
 2.1 The Loan. Lender is making a loan (the “Loan”) to Borrower in the original principal amount (the “Principal”) of $62,200,000, which shall mature on the
Stated Maturity Date. Borrower acknowledges that the proceeds of the Loan are being and shall be used to (i) acquire the Property, (ii) fund certain of the Subaccounts, and (iii) pay transaction costs. Any excess proceeds may be used
for any lawful purpose. No amount repaid in respect of the Loan may be reborrowed. 
 2.2 Interest; Monthly Payments.

 2.2.1 Generally. From and after the date the Loan is funded, interest on the unpaid Principal shall accrue at the Interest
Rate and be payable as hereinafter provided. On the date the Loan is funded, Borrower shall pay interest on the unpaid Principal from the date of funding through and including October 5, 2006. On November 6, 2006 and each Payment Date

  

 -16- 

 
thereafter through and including September 6, 2016, Borrower shall pay interest on the unpaid Principal which has accrued through the last day of the
Interest Period immediately preceding such Payment Date (the “Monthly Debt Service Payment Amount”). All accrued and unpaid interest shall be due and payable on the Maturity Date. If the Loan is repaid on any date other than on a Payment
Date (whether prior to or after the Stated Maturity Date), Borrower shall also pay interest that would have accrued on such repaid Principal to but not including the next Payment Date. 
 2.2.2 Default Rate. After the occurrence and during the continuance of an Event of Default, the entire unpaid Debt shall bear interest at
the Default Rate, and shall be payable upon demand from time to time, to the extent permitted by applicable law. 
 2.2.3
Taxes. Any and all payments by Borrower hereunder and under the other Loan Documents shall be made free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and
all liabilities with respect thereto, excluding taxes imposed on Lender’s income, and franchise taxes imposed on Lender by the law or regulation of any Governmental Authority (all such non-excluded taxes, levies, imposts, deductions, charges,
withholdings and liabilities being hereinafter referred to in this Section 2.2.3 as “Applicable Taxes”). If Borrower shall be required by law to deduct any Applicable Taxes from or in respect of any sum payable hereunder to Lender,
the following shall apply: (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.2.3), Lender receives an
amount equal to the sum it would have received had no such deductions been made, (ii) Borrower shall make such deductions and (iii) Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in
accordance with applicable law. Payments pursuant to this Section 2.2.3 shall be made within ten (10) days after the date Lender makes written demand therefor. 
 2.2.4 New Payment Date. Lender shall have the right, to be exercised not more than once during the term of the Loan, to change the Payment Date to a date other than the sixth day of each month (a
“New Payment Date”), on thirty (30) days’ written notice to Borrower; provided, however, that any such change in the Payment Date: (i) shall not modify the amount of regularly scheduled monthly principal and
interest payments, except that the first payment of principal and interest payable on the New Payment Date shall be accompanied by interest at the interest rate herein provided for the period from the Payment Date in the month in which the New
Payment Date first occurs to the New Payment Date, and (ii) shall change the Stated Maturity Date to the New Payment Date occurring in the month set forth in the definition of Stated Maturity Date. 
 2.3 Loan Repayment. 
 2.3.1
Repayment. Borrower shall repay the entire outstanding principal balance of the Note in full on the Maturity Date, together with interest thereon to (but excluding) the date of repayment and any other amounts due and owing under the Loan
Documents. Borrower shall have no right to prepay or defease all or any portion of the Principal except in accordance with Section 2.3.2 below, Section 2.3.3 below and Section 2.4 below. Except during the
continuance of an Event of Default, all proceeds of any repayment, including any 

  

 -17- 

 
prepayments of the Loan, shall be applied by Lender as follows in the following order of priority: First, accrued and unpaid interest at the Interest Rate;
Second, to Principal; and Third, to and any other amounts then due and owing under the Loan Documents. If prior to the Stated Maturity Date the Debt is accelerated by reason of an Event of Default, then Lender shall be entitled to receive, in
addition to the unpaid Principal and accrued interest and other sums due under the Loan Documents, an amount equal to the Yield Maintenance Premium applicable to such Principal so accelerated. During the continuance of an Event of Default, all
proceeds of repayment, including any payment or recovery on the Property (whether through foreclosure, deed-in-lieu of foreclosure, or otherwise) shall, unless otherwise provided in the Loan Documents, be applied in such order and in such manner as
Lender shall elect in Lender’s discretion. 
 2.3.2 Mandatory Prepayments. The Loan is subject to mandatory prepayment in
certain instances of Insured Casualty or Condemnation (each a “Casualty/Condemnation Prepayment”), in the manner and to the extent set forth in Section 7.4.2 hereof. Each Casualty/Condemnation Prepayment, after
deducting Lender’s costs and expenses (including reasonable attorneys’ fees and expenses) in connection with the settlement or collection of the Proceeds or Award, shall be applied in the same manner as repayments under
Section 2.3.1 above, and if such Casualty/Condemnation Prepayment is made on any date other than a Payment Date, then such Casualty/Condemnation Prepayment shall include interest that would have accrued on the Principal prepaid to but
not including the next Payment Date, provided that a Secondary Market Transaction has occurred. Provided that no Event of Default is continuing, any such mandatory prepayment under this Section 2.3.2 shall be without the payment of the
Yield Maintenance Premium. Notwithstanding anything to the contrary contained herein, each Casualty/Condemnation Prepayment shall be applied in inverse order of maturity and shall not extend or postpone the due dates of the monthly installments due
under the Note or this Agreement, or change the amounts of such installments. 
 2.3.3 Defeasance 
 (a) Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right after the Release Date and
prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”),
subject to the satisfaction of the following conditions precedent: 
 (i) Borrower shall give Lender not less than thirty (30) days
prior written notice specifying a Payment Date (the “Defeasance Date”) on which the Defeasance Event is to occur. 
 (ii) Borrower shall pay to Lender (A) all payments of Principal and interest due on the Loan to and including the Defeasance Date and (B) all other sums, then due under the Note, this Agreement and the other Loan Documents;

 (iii) Borrower shall deposit the Defeasance Collateral into the Defeasance Collateral Account and otherwise comply with the provisions of
subsections (b) and (c) of this Section 2.3.3; 
  

 -18- 

 (iv) Borrower shall execute and deliver to Lender a Security Agreement in respect of the Defeasance
Collateral Account and the Defeasance Collateral; 
 (v) Borrower shall deliver to Lender an opinion of counsel for Borrower that is
standard in commercial lending transactions and subject only to customary qualifications, assumptions and exceptions opining, among other things, that (A) Lender has a legal and valid perfected first priority security interest in the Defeasance
Collateral Account and the Defeasance Collateral, and (B) a non-consolidation opinion with respect to the Successor Borrower; 
 (vi)
if required by any Rating Agency, Borrower shall deliver to Lender and the Rating Agencies a Rating Comfort Letter as to the Defeasance Event; 
 (vii) Borrower shall deliver an Officer’s Certificate certifying that the requirements set forth in this Section 2.3.3 have been satisfied; 
 (viii) Borrower shall deliver a certificate of a nationally recognized public accounting firm acceptable to Lender certifying that (A) the Defeasance Collateral will generate monthly amounts equal to or greater
than the Scheduled Defeasance Payments, (B) the revenue from the Defeasance Collateral will be applied within four (4) months of receipt towards payments of Debt Service, (C) the securities that comprise the Defeasance Collateral are
not subject to prepayment, call or early redemption and (D) the interest income to Borrower (or the Successor Borrower, if applicable) from the Defeasance Collateral will not in any tax year exceed the interest expense associated with the
defeased Loan; 
 (ix) Borrower shall deliver such other certificates, opinions, documents and instruments as Lender may reasonably request;

 (x) Borrower shall pay all costs and expenses of Lender incurred in connection with the Defeasance Event, including Lender’s
reasonable attorneys’ fees and expenses and Rating Agency fees and expenses, 
 (xi) if a securitization has occurred, Lender shall
have received an opinion of its counsel that is standard in commercial lending transactions and subject only to customary qualifications, assumptions and exceptions opining, among other things, that the REMIC Trust formed pursuant to such
securitization will not fail to maintain its status as a “real estate mortgage investment conduit” within the meaning of Section 860D of the Code as a result of a Defeasance Event pursuant to this Section 2.3.3, and

 (xii) All conditions with respect to the defeasance of any Approved Mezzanine Loan shall have been satisfied. 
 (b) Defeasance Collateral Account. On or before the date on which Borrower delivers the Defeasance Collateral, Borrower shall open at any
Eligible Institution the defeasance collateral account (the “Defeasance Collateral Account”) which shall at all times be an Eligible Account. Lender will agree to cooperate with Borrower in structuring the defeasance such
that the securities can be held by a trust in which Lender is the beneficiary, provided that 

  

 -19- 

 
the same satisfies all Rating Agency requirements and requirements of the REMIC Provisions applicable to the defeasance. The Defeasance Collateral Account
shall contain only (i) Defeasance Collateral, and (ii) cash from interest and principal paid on the Defeasance Collateral. All cash from interest and principal payments paid on the Defeasance Collateral shall be paid over to Lender on each
Payment Date and applied first to accrued and unpaid interest and then to Principal. Any cash from interest and principal paid on the Defeasance Collateral not needed to pay accrued and unpaid interest or Principal shall be retained in the
Defeasance Collateral Account as additional collateral for the Loan. Borrower shall cause the Eligible Institution at which the Defeasance Collateral is deposited to enter an agreement with Borrower and Lender, satisfactory to Lender in its sole
discretion, pursuant to which such Eligible Institution shall agree to hold and distribute the Defeasance Collateral in accordance with this Agreement. The Successor Borrower shall be the owner of the Defeasance Collateral Account and shall report
all income accrued on Defeasance Collateral for federal, state and local income tax purposes in its income tax return. Borrower shall prepay all cost and expenses associated with opening and maintaining the Defeasance Collateral Account. Lender
shall not in any way be liable by reason of any insufficiency in the Defeasance Collateral Account. 
 (c) Successor Borrower.
In connection with a Defeasance Event under this Section 2.3.3, Borrower shall, if required by the Rating Agencies or if Borrower elects to do so, establish or designate a successor entity (the “Successor
Borrower”) which shall be a Special Purpose Bankruptcy Remote Entity and which shall be approved by the Rating Agencies. Any such Successor Borrower may, at Borrower’s option, be an Affiliate of Borrower unless the Rating Agencies
shall require otherwise. Borrower shall transfer and assign all obligations, rights and duties under and to the Defeased Note, together with the Defeasance Collateral to such Successor Borrower. Such Successor Borrower shall assume the obligations
under the Note and the Security Agreement and Borrower shall be relieved of its obligations under such documents. Borrower shall pay a minimum of $1,000 to any such Successor Borrower as consideration for assuming the obligations under the Note and
the Security Agreement. Borrower shall pay all costs and expenses incurred by Lender, including Lender’s attorney’s fees and expenses, incurred in connection therewith. 
 2.3.4 Optional Prepayments. From and after the second Payment Date prior to the Stated Maturity Date (the “Permitted Prepayment
Date”), Borrower shall have the right to prepay the Loan in whole (but not in part), provided that Borrower gives Lender at least fifteen (15) days’ prior written notice thereof. If any such prepayment is not made on a Payment
Date, Borrower shall also pay interest that would have accrued on such prepaid Principal to, but not including, the next Payment Date. Any such prepayment shall be made without payment of the Yield Maintenance Premium. 
 2.4 Release of Property. 
 2.4.1 Release on Defeasance. If Borrower has elected to defease the Note and the requirements of Section 2.3.3 above and this Section 2.4 have been satisfied, the Property shall be released from the
Lien of the Mortgage and the Defeasance Collateral pledged pursuant to the Security Agreement shall be the sole source of collateral securing the Note. In connection with the release of the Lien, Borrower shall submit to Lender, not less than thirty
(30) days prior to the Defeasance Date (or such shorter time as is acceptable to Lender in its sole discretion), a 

  

 -20- 

 
release of Lien (and related Loan Documents) for execution by Lender. Any such release shall be in a form appropriate in the jurisdiction in which the
Property is located and contain standard provisions protecting the rights of the releasing lender. In connection therewith, Borrower shall provide all documentation Lender reasonably requires to be delivered by Borrower in connection with such
release, together with an Officer’s Certificate certifying that such documentation (i) is in compliance with all Legal Requirements, and (ii) will effect such release in accordance with the terms of this Agreement. Borrower shall pay
all costs, taxes and expenses associated with the release of the Lien of the Mortgage, including Lender’s reasonable attorneys’ fees. 
 2.4.2 Release on Payment in Full. Lender shall, upon the written request and at the expense of Borrower, upon payment in full of the Debt in accordance herewith, release or, if requested by Borrower, assign to Borrower’s
designee (without any representation or warranty by and without any recourse against Lender whatsoever), the Lien of the Loan Documents if not theretofore released. 
 2.5 Payments and Computations. 
 2.5.1 Making of Payments. Each payment by
Borrower shall be made in funds settled through the New York Clearing House Interbank Payments System or other funds immediately available to Lender by 11:00 a.m., New York City time, on the date such payment is due, to Lender by deposit to such
account as Lender may designate by written notice to Borrower. Whenever any such payment shall be stated to be due on a day that is not a Business Day, such payment shall be made on the first Business Day thereafter. All such payments shall be made
irrespective of, and without any deduction, set-off or counterclaim whatsoever and are payable without relief from valuation and appraisement laws and with all costs and charges incurred in the collection or enforcement thereof, including
attorneys’ fees and court costs. 
 2.5.2 Computations. Interest payable under the Loan Documents shall be computed on the
basis of the actual number of days elapsed over a 360-day year. 
 2.5.3 Late Payment Charge. If any Principal, interest or
other sum due under any Loan Document is not paid by Borrower on the date on which it is due other than the payment due on the Maturity Date, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such
unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the
loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents. 
 3. CASH MANAGEMENT AND RESERVES 

3.1 Cash Management Arrangements. Borrower shall cause all Rents to be transmitted directly by tenants of the Property into an Eligible
Account (the “Clearing Account”) maintained by Borrower at a local bank selected by Borrower, which shall at all times be an Eligible Institution (the “Clearing Bank”) as more fully described in the
Clearing Account Agreement. A form of tenant direction letter for such purpose is attached hereto as Schedule 1. Without in any way limiting the foregoing, all Rents received by Borrower or Manager shall be deposited into the Clearing Account
within one (1) Business Day of receipt. Funds deposited 

  

 -21- 

 
into the Clearing Account shall be swept by the Clearing Bank on a daily basis into Borrower’s operating account at the Clearing Bank, unless a Cash
Management Period is continuing, in which event such funds shall be swept on a daily basis into an Eligible Account at the Deposit Bank controlled by Lender (the “Deposit Account”) and applied and disbursed in accordance with
this Agreement. Funds in the Deposit Account shall be invested at Lender’s discretion only in Permitted Investments. Lender will also establish subaccounts of the Deposit Account which shall at all times be Eligible Accounts (and may be ledger
or book entry accounts and not actual accounts) (such subaccounts are referred to herein as “Subaccounts”). The Deposit Account and any Subaccount will be under the sole control and dominion of Lender, and Borrower shall have
no right of withdrawal therefrom. Borrower shall pay for all expenses of opening and maintaining all of the above accounts. 
 3.2
[intentionally deleted]. 
 3.3 Taxes and Insurance. Borrower shall pay to Lender on each Payment Date
(i) one-twelfth (1/12th) of the Taxes that Lender estimates will be payable during the next twelve (12) months in order to accumulate with Lender sufficient funds to pay all such Taxes at least thirty (30) days prior to their
respective due dates and (ii) one-twelfth (1/12th) of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate with Lender
sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies. Such amounts will be transferred by Lender to a Subaccount (the “Tax and Insurance Subaccount”).
Provided that no Event of Default has occurred and is continuing, Lender will (a) apply funds in the Tax and Insurance Subaccount to payments of Taxes and Insurance Premiums required to be made by Borrower pursuant to Section 5.2
hereof and Section 7.1 hereof, provided that Borrower has promptly supplied Lender with notices of all Taxes and Insurance Premiums due, or (b) reimburse Borrower for such amounts upon presentation of evidence of payment; subject,
however, to Borrower’s right to contest Taxes in accordance with Section 5.2 hereof. In making any payment relating to Taxes and Insurance Premiums, Lender may do so according to any bill, statement or estimate procured from the
appropriate public office (with respect to Taxes) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien
or title or claim thereof. If Lender determines in its reasonable judgment that the funds in the Tax and Insurance Subaccount will be insufficient to pay (or in excess of) the Taxes or Insurance Premiums next coming due, Lender may increase (or
decrease) the monthly contribution required to be made by Borrower to the Tax and Insurance Subaccount. The foregoing obligations to fund and maintain the Tax and Insurance Subaccount shall be conditionally waived for so long as (A) Borrower
timely pays such charges prior to delinquency and Lender receives satisfactory evidence of such payment prior to delinquency, (B) no Event of Default shall have occurred hereunder, and (C) no Approved Mezzanine Loan is outstanding at any
time from and after the first day of the 13th full calendar month after the date hereof. Upon the failure of any of
the foregoing conditions, Lender may demand full compliance with the provisions of this Section 3.3 (a) for the remaining term of the Loan, or (b) in the event such obligations are effective due to the failure of condition
(C) above, until the applicable Approved Mezzanine Loan is fully satisfied. 
  

 -22- 

 3.4 Capital Expense Reserves. Borrower shall pay to Lender on each Payment Date an amount
sufficient to pay anticipated Approved Capital Expenses. Lender will transfer such amounts into a Subaccount (the “Capital Reserve Subaccount”). Additionally, upon thirty (30) days’ prior notice to Borrower, Lender
may reassess the amount of the monthly payment required under this Section 3.4 from time to time in its reasonable discretion (based upon its then current underwriting standards). Provided that no Default or Event of Default has occurred
and is continuing, Lender shall disburse funds held in the Capital Reserve Subaccount to Borrower, within fifteen (15) days after the delivery by Borrower to Lender of a request therefor (but not more often than once per month), in increments
of at least $5,000 provided that (i) such disbursement is for an Approved Capital Expense; (ii) Lender shall have (if it desires) verified (by an inspection conducted at Borrower’s expense) performance of the work associated with such
Approved Capital Expense; and (iii) the request for disbursement is accompanied by (A) an Officer’s Certificate certifying (1) that such funds will be used to pay or reimburse Borrower for Approved Capital Expenses and a
description thereof, (2) that all outstanding trade payables (other than those to be paid from the requested disbursement or those constituting Permitted Indebtedness) have been paid in full, (3) that the same has not been the subject of a
previous disbursement, and (4) that all previous disbursements have been used to pay the previously identified Approved Capital Expenses, (B) lien waivers or other evidence of payment satisfactory to Lender, (C) at Lender’s
option, a title search for the Property indicating that the Property is free from all Liens, claims and other encumbrances not previously approved by Lender and (D) such other evidence as Lender shall reasonably request that the Approved
Capital Expenses at the Property to be funded by the requested disbursement have been completed and are paid for or will be paid upon such disbursement to Borrower. The foregoing obligations to fund and maintain the Capital Reserve Subaccount shall
be conditionally waived for so long as no Event of Default shall have occurred hereunder. Upon an Event of Default, Lender may demand full compliance with the provisions of this Section 3.4 for the remaining term of the Loan. 

3.5 Rollover Reserve. 
 3.5.1 On each Payment Date occurring during the continuance of a Lease Sweep Period, at Lender’s option, all Available Cash shall be paid to Lender for transfer into a Subaccount to be used for the purposes described below (the
“Rollover Reserve Subaccount”). Borrower shall also pay to Lender for transfer into the Rollover Reserve Subaccount any Lease Termination Payments received at any time from any Major Tenant. Notwithstanding the foregoing, at
any time that the Lease Sweep Period is in effect or is required to be in effect, Borrower may elect (which election shall be made in writing to Lender) to terminate the Lease Sweep Period and, in lieu of depositing Available Cash into the Rollover
Reserve Subaccount as required above, Borrower shall deposit from a source or sources other than the Property funds equivalent to the amount that would have been required to be deposited into the Rollover Reserve Subaccount from Available Cash.

 3.5.2 If any Major Tenant vacates its leased premises or announces publicly or to Borrower or Manager its intention to vacate its
leased premises, commencing on the next occurring Payment Date and on each Payment Date thereafter for so long as a Lease Sweep Event shall not have occurred and a Cash Management Period does not exist, Borrower shall pay to Lender for deposit into
the Rollover Reserve Account all monthly Net Operating Income of 

  

 -23- 

 
the Property (based on the most recent required quarterly report thereof under Section 6.3.3 below) less capital expenses incurred by Borrower for the
operation, maintenance and leasing of the Property, until the Additional TI Amount (as defined below) with respect to such Major Tenant shall have been deposited with Lender. All such funds may be used to pay Approved Major Lease Expenses with
respect to such Major Tenant. At such time as such Major Tenant shall have renewed its Major Lease pursuant to the terms of this Agreement, Borrower may cease depositing such amounts and, provided that no Lease Sweep Period is continuing, all such
funds deposited with Lender and remaining on deposit in the Rollover Reserve Subaccount attributable to such Major Tenant shall be promptly disbursed to Borrower. “Additional TI Amount” means an amount determined at a rate
equal to the greater of (i) $2.20 square foot per annum on the net rentable area of the Property or (ii) $3.60 per square foot per annum on the net rentable area of the Property that is vacated or made known to be vacated publicly or to
Borrower or Manager by any Major Tenant. 
 3.5.3 Provided that no Event of Default has occurred and is continuing, Lender shall
disburse funds held in the Rollover Reserve Subaccount to Borrower, within fifteen (15) days after the delivery by Borrower to Lender of a request therefor (but not more often than once per month), in increments of at least $5,000, provided
(i) such disbursement is for an Approved Major Lease Expense; (ii) Lender shall have (if it desires) verified (by an inspection conducted at Borrower’s expense) performance of any construction work associated with such Approved Major
Lease Expense; and (iii) the request for disbursement is accompanied by (A) an Officer’s Certificate certifying (1) that such funds will be used only to pay (or reimburse Borrower for) Approved Major Lease Expenses and a
description thereof, (2) that all outstanding trade payables that are due and payable for the applicable Approved Major Lease Expense (other than those to be paid from the requested disbursement or those constituting Permitted Indebtedness)
have been paid in full, (3) that the same has not been the subject of a previous disbursement, and (4) that all previous disbursements have been used only to pay (or reimburse Borrower for) the previously identified Approved Major Lease
Expenses, and (B) reasonably detailed supporting documentation as to the amount, necessity and purpose therefor. 
 3.5.4
Provided no Event of Default is continuing, upon the termination of the subject Lease Sweep Period as a result of the determination by Lender that sufficient funds have been accumulated in the Rollover Reserve Subaccount to pay for all
anticipated expenses in connection with the re-leasing of the space under the applicable Major Lease that gave rise to the subject Lease Sweep Period, including brokerage commissions and tenant improvements (the amount of such sufficient funds
herein called the “Rollover Threshold”), an amount in excess of the Rollover Threshold then on deposit in the Rollover Reserve Subaccount shall be promptly disbursed to Borrower following Borrower’s written request to
Lender. 
 3.5.5 Provided no Event of Default is continuing, upon the termination of the subject Lease Sweep Period, and Lender’s
receipt of reasonably satisfactory evidence that all Approved Major Lease Expenses incurred in connection therewith (and any other expenses in connection with the re-tenanting of the applicable space) have been paid in full, any funds (if any)
remaining in the Rollover Reserve Subaccount that have been deposited therein as a result of such Lease Sweep Period shall be disbursed to Borrower; provided, however, if a Cash Management Period is then continuing notwithstanding termination of the
Lease Sweep Period, then no such funds shall be disbursed to Borrower, and all such funds shall instead be deposited into the Deposit Account to be applied in accordance with Section 3.11 hereof. 
  

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 3.5.6 Borrower shall also pay to Lender for transfer into the Rollover Reserve Subaccount all
Lease Termination Payments received by Borrower (other than those received from any Major Tenant, as described above). 
 (a) Provided that
no Default or Event of Default has occurred and is continuing, Lender shall disburse to Borrower funds deposited into the Rollover Reserve Subaccount pursuant to Section 3.5.6 above, within fifteen (15) days after the delivery by
Borrower to Lender of a request therefor (but not more often than once per month), in increments of at least $2,500, provided (i) such disbursement is for an Approved Leasing Expense; (ii) Lender shall have (if it desires) verified (by an
inspection conducted at Borrower’s expense) performance of any construction work associated with such Approved Leasing Expense; and (iii) the request for disbursement is accompanied by (A) an Officer’s Certificate certifying
(1) that such funds will be used only to pay (or reimburse Borrower for) Approved Leasing Expenses and a description thereof, (2) that all outstanding trade payables (other than those to be paid from the requested disbursement or those
constituting Permitted Indebtedness) have been paid in full, (3) that the same has not been the subject of a previous disbursement, and (4) that all previous disbursements have been used only to pay (or reimburse Borrower for) the
previously identified Approved Leasing Expenses, and (B) reasonably detailed supporting documentation as to the amount, necessity and purpose therefor. 
 (b) Provided no Default or Event of Default is continuing, upon Lender’s receipt of satisfactory evidence that all Approved Leasing Expenses incurred in connection with re-tenanting the space that was the subject
of the termination (and any other expenses in connection with the re-tenanting of the applicable space) have been paid in full (which evidence may include (i) a letter or certification from the applicable broker, if any, that all brokerage
commissions payable in connection therewith have been paid and (ii) an estoppel certificate executed by each applicable tenant which certifies that all contingencies under such Lease to the payment of full rent (including Borrower’s
contribution to the cost of any tenant improvement work) have been satisfied), any portion of the applicable Lease Termination Payment (if any) remaining in the Rollover Reserve Subaccount shall be disbursed to Borrower; provided, however, if a Cash
Management Period is then continuing, then no such funds shall be disbursed to Borrower, and all such funds shall instead be deposited into the Deposit Account, to be applied in accordance with this Agreement. 
 3.6 Operating Expense Subaccount. During a Cash Management Period, on each Payment Date, a portion of the Rents that have been deposited
into the Deposit Account during the immediately preceding Interest Period in an amount equal to the monthly amount set forth in the Approved Operating Budget for the following month as being necessary for payment of Approved Operating Expenses at
the Property for such month, shall be transferred into a Subaccount for the payment of Approved Operating Expenses (the “Operating Expense Subaccount”). Provided no Event of Default has occurred and is continuing, Lender
shall disburse funds held in the Operating Expense Subaccount to Borrower, within fifteen (15) days after delivery by Borrower to Lender of a request therefor (but not more often than once per month), in increments of at least $1,000, provided
(i) such disbursement is for an Approved 

  

 -25- 

 
Operating Expense; and (ii) such disbursement is accompanied by (A) an Officer’s Certificate certifying (1) that such funds will be used
to pay Approved Operating Expenses and a description thereof, (2) that all outstanding trade payables (other than those to be paid from the requested disbursement or those constituting Permitted Indebtedness) that are due and payable have been
paid in full, (3) that the same has not been the subject of a previous disbursement, and (4) that all previous disbursements have been or will be used to pay the previously identified Approved Operating Expenses, and (B) reasonably
detailed documentation satisfactory to Lender as to the amount, necessity and purpose therefor. 
 3.7 Casualty/Condemnation
Subaccount. Borrower shall pay, or cause to be paid, to Lender all Proceeds or Awards due to any Casualty or Condemnation to be transferred to a Subaccount (the “Casualty/Condemnation Subaccount”) in accordance with
the provisions of Article 7 hereof. All amounts in the Casualty/Condemnation Subaccount shall disbursed in accordance with the provisions of Article 7 hereof. 
 3.8 [Intentionally Omitted]. 
 3.9 Cash Collateral Subaccount. If a Cash Management Period shall have commenced, then on the immediately succeeding Payment Date and on each Payment Date thereafter during the continuance of such Cash Management Period, all
Available Cash shall be paid to Lender as provided under Section 3.11(a) below, which amounts shall be transferred by Lender into a Subaccount (the “Cash Collateral Subaccount”) as cash collateral for the Debt.
Notwithstanding the foregoing, if a Lease Sweep Period has occurred and is then continuing during the continuance of any Cash Management Period, Lender shall have the right (but not the obligation) to allocate all Available Cash and any funds in the
Cash Collateral Subaccount to the Rollover Reserve Subaccount to be applied in accordance with the terms and conditions of Section 3.5(a) hereof. Any funds in the Cash Collateral Account and not previously disbursed or applied shall be
disbursed to Borrower upon the termination of such Cash Management Period. Lender shall have the right, but not the obligation, at any time an Event of Default has occurred and is continuing, in its sole and absolute discretion to apply all sums
then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its sole and absolute discretion, including to make a prepayment of Principal (together which the applicable Yield Maintenance
Premium applicable thereto). 
 3.10 Grant of Security Interest; Application of Funds. As security for payment of the Debt and
the performance by Borrower of all other terms, conditions and provisions of the Loan Documents, Borrower hereby pledges and assigns to Lender, and grants to Lender a security interest in, all Borrower’s right, title and interest in and to all
Rents and in and to all payments to or monies held in the Clearing Account, the Deposit Account, all Subaccounts created pursuant to this Agreement (collectively, the “Cash Management Accounts”). Borrower hereby grants to
Lender a continuing security interest in, and agrees to hold in trust for the benefit of Lender, all Rents in its possession prior to the (i) payment of such Rents to Lender or (ii) deposit of such Rents into the Deposit Account. Borrower
shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Cash Management Account, or permit any Lien to attach thereto, or any levy to be made thereon, or any UCC Financing
Statements, except those naming Lender as the secured party, to be filed with respect thereto. This Agreement is, among other things, intended by the parties to be a 

  

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security agreement for purposes of the UCC. Upon the occurrence and during the continuance of an Event of Default, Lender may apply any sums in any Cash
Management Account in any order and in any manner as Lender shall elect in Lender’s discretion without seeking the appointment of a receiver and without adversely affecting the rights of Lender to foreclose the Lien of the Mortgage or exercise
its other rights under the Loan Documents. Cash Management Accounts shall not constitute trust funds and may be commingled with other monies held by Lender; provided that Borrower shall be entitled to request Lender to open and maintain a separate
Deposit Account such that the funds with respect to the Property are not commingled with other monies held by Lender so long as Borrower shall pay the costs and expenses with respect to such Deposit Account. All interest which accrues on the funds
in any Cash Management Account (other than the Tax and Insurance Subaccount) shall accrue for the benefit of Borrower and shall be taxable to Borrower and shall be added to and disbursed in the same manner and under the same conditions as the
principal sum on which said interest accrued. Upon repayment in full of the Debt, all remaining funds in the Subaccounts, if any, shall be promptly disbursed to Borrower. 
 3.11 Property Cash Flow Allocation. 
 (a) Notwithstanding anything stated to the contrary in
this Agreement (but subject to Section 3.11(c) below), all Rents deposited into the Deposit Account during the immediately preceding Interest Period shall be applied on each Payment Date as follows in the following order of priority:

 (i) First, at any time prior to the Maturity Date hereunder, to Borrower to make Permitted REIT Distributions attributable to the
immediately preceding Interest Period, subject to Section 3.12 below. For so long as the Mezzanine Loan remains outstanding at any time prior to the first day of the 19th full calendar month after the date hereof, notwithstanding that an Event of Default shall have occurred and be continuing, Rents deposited into the Deposit
Account shall be disbursed to Borrower to make Permitted REIT Distributions to the extent that sufficient amounts are on deposit in the Deposit Account to fully fund payment of the Monthly Debt Service Payment Amount (under subsection
(iv) below) and the Monthly Mezzanine Debt Service Payment Amount (under subsection (vii) below) without regard for the adequacy of all Rents then on deposit in the Deposit Account to fully fund any prior amounts described in this
Section 3.11(a), subsections (ii), (iii), (v), and (vi) below. No Rents shall be disbursed to Borrower to make Permitted REIT Distributions for so long as the Mezzanine Loan remains outstanding from and after the first day of the
19th full calendar month after the date hereof. 
 (ii) Second, (if the obligation to fund the Tax and Insurance Subaccount is no longer waived by Lender pursuant to Section 3.3 hereof) to
make payments into the Tax and Insurance Subaccount as required under Section 3.3 hereof; 
 (iii) Third, to pay the monthly
portion of the fees charged by the Deposit Bank in accordance with the Deposit Account Agreement; 
 (iv) Fourth, to Lender to pay the
Monthly Debt Service Payment Amount due on such Payment Date (plus, if applicable, interest at the Default Rate and all other amounts, other than those described under other clauses of this Section 3.11(a), then due to Lender under the
Loan Documents); 
  

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 (v) Fifth, (if the obligation to fund the Capital Reserve Subaccount is no longer waived by Lender
pursuant to Section 3.4 hereof) to make payments into the Capital Reserve Subaccount as required under Section 3.4 hereof; 
 (vi) Sixth, to make payments for Approved Operating Expenses as required under Section 3.6 hereof; 
 (vii) Seventh, if
the Mezzanine Loan (or any portion thereof) is outstanding, to make payments in the amount of the Monthly Mezzanine Debt Service Payment into the subordinate deposit account established under the Mezzanine Loan; and 
 (viii) Eighth, (A) First, during a Lease Sweep Period at any time, Available Cash on such Payment Date shall be deposited into the Rollover Reserve
Subaccount; or (B) Second, if the Mezzanine Loan (or any portion thereof) is outstanding, all remaining Available Cash on such Payment Date shall be deposited into the subordinate deposit account established under the Mezzanine Loan or, if the
Mezzanine Loan has been paid in full, all remaining Available Cash on such Payment Date shall be deposited into the Cash Collateral Subaccount in accordance with Section 3.9 hereof. 
 (b) The failure of Borrower to make all of the payments required under clauses (ii) through (vii) of Section 3.11(a) above in full
on each Payment Date shall constitute an Event of Default under this Agreement; provided, however, if adequate funds are available in the Deposit Account for such payments, the failure by the Deposit Bank to allocate such funds into the appropriate
Subaccounts shall not constitute an Event of Default. 
 (c) Notwithstanding anything to the contrary contained in this
Section 3.11, after the occurrence of an Event of Default, Lender may apply all Rents deposited into the Deposit Account and other proceeds of repayment (after disbursement to Borrower for payment of any Permitted REIT Distribution then
due and payable in accordance with the provisions of Section 3.11(a)(i) above) to payment of amounts outstanding under the Loan Documents or with respect to the Mezzanine Loan, in such order and in such manner as Lender shall elect or,
at Lender’s sole election, to the Rollover Reserve Subaccount during any Lease Sweep Period. 
 (d) Any funds in the Deposit Account
and not previously disbursed or applied shall be disbursed to Borrower upon termination of any applicable Cash Management Period. 
 3.12
Permitted REIT Distributions. Borrower’s right to receive Rents deposited into the Deposit Account or any Subaccount or make Permitted REIT Distributions shall be subject to the following terms and conditions in this
Section 3.12. At least 14 days prior to the end of the then current Projection Period (as defined below), Borrower shall deliver to Lender (a) written notice setting forth an estimate of the REIT’s taxable income for the
Property and the Permitted REIT Operating Expenses (the “REIT Distribution Notice”) for the immediate succeeding 

  

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period of no less than one fiscal quarter and no more than one fiscal year (each, a “Projection Period”), which REIT Distribution
Notice shall also set forth the amount of cash flow from the Property needed to make Permitted REIT Distributions related to such Projection Period, and (b) written confirmation from Ernst & Young or another “Big 4”
accounting firm that the estimate of the REIT’s taxable income generated by the Property for the applicable Projection Period, as reflected in the REIT Distribution Notice, is a reasonable estimate of the same, all in form and substance
reasonably acceptable to Lender. Such estimate shall be based on (1) the REIT’s actual taxable income for the Property and the actual Permitted REIT Operating Expenses for the then current calendar year and (2) the REIT’s
projected taxable income for the Property and the projected Permitted REIT Operating Expenses for the remainder of such calendar year. Within 30 days following the end of each fiscal quarter, Borrower shall deliver to Lender a statement of the
REIT’s actual taxable income for the Property and the actual Permitted REIT Operating Expenses for the immediately ended fiscal quarter and evidence supporting such statement and (A) if the Permitted REIT Distributions made for such fiscal
quarter exceeded the estimate set forth in the REIT Distribution Notice applicable to such fiscal quarter, the estimate of the Permitted REIT Distributions for the immediately succeeding fiscal quarter shall be adjusted to reduce the estimated
amount of the Permitted REIT Distributions by the amount of such excess and (B) if the Permitted REIT Distributions made for such fiscal quarter was less than the estimate set forth in the REIT Distribution Notice applicable to such fiscal
quarter, the estimate of the Permitted REIT Distributions for the immediately succeeding fiscal quarter shall be adjusted to increase the estimated amount of the Permitted REIT Distributions by the amount of such shortfall. Notwithstanding anything
stated to the contrary in this Section 3, Lender acknowledges and agrees that the funding of all reserves and other amounts under this Section 3 are expressly subject to the provisions of Section 3.11 and the
disbursement to Borrower of Permitted REIT Distributions as provided therein. 
 4. REPRESENTATIONS AND WARRANTIES 
 Borrower represents and warrants to Lender as of the date hereof that, except to the extent (if any) disclosed on Schedule 2 hereto with reference to a specific
Section of this Article 4: 
 4.1 Organization; Special Purpose. Each of Borrower and Sole Member has been duly
organized and is validly existing and in good standing under the laws of the state of its formation, with requisite power and authority, and all rights, licenses, permits and authorizations, governmental or otherwise, necessary to own its properties
and to transact the business in which it is now engaged. Each of Borrower and Sole Member is duly qualified to do business and is in good standing in each jurisdiction where it is required to be so qualified in connection with its properties,
business and operations. Borrower is a Special Purpose Bankruptcy Remote Entity. 
 4.2 Proceedings; Enforceability. Borrower
has taken all necessary action to authorize the execution, delivery and performance of the Loan Documents. The Loan Documents have been duly executed and delivered by Borrower and constitute legal, valid and binding obligations of Borrower
enforceable against Borrower in accordance with their respective terms, subject to applicable bankruptcy, insolvency and similar laws affecting rights of creditors generally, and general principles of equity. The Loan Documents are not subject to,
and Borrower has not asserted, any right of rescission, set-off, counterclaim or defense, including the defense of usury. No exercise of any of the terms of the Loan Documents, or any right thereunder, will render any Loan Document unenforceable.

  

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 4.3 No Conflicts. The execution, delivery and performance of the Loan Documents by Borrower
and the transactions contemplated hereby will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any Lien (other than pursuant to the Loan
Documents) upon any of the property of Borrower pursuant to the terms of, any agreement or instrument to which Borrower is a party or by which its property is subject, nor will such action result in any violation of the provisions of any statute or
any order, rule or regulation of any Governmental Authority having jurisdiction over Borrower or any of its properties. Borrower’s rights under the Licenses and the Management Agreement will not be adversely affected by the execution and
delivery of the Loan Documents, Borrower’s performance thereunder, the recordation of the Mortgage, or the exercise of any remedies by Lender. Any consent, approval, authorization, order, registration or qualification of or with any
Governmental Authority required for the execution, delivery and performance by Borrower of the Loan Documents has been obtained and is in full force and effect. 
 4.4 Litigation. To Borrower’s Knowledge, there are no actions, suits or other proceedings at law or in equity by or before any Governmental Authority now pending or threatened against or affecting
Borrower, Sole Member, or the Property, which, if adversely determined, might have a Material Adverse Effect. 
 4.5
Agreements. Borrower is not a party to any agreement or instrument or subject to any restriction which might have a Material Adverse Effect. Borrower is not in default in the performance, observance or fulfillment of any of the
obligations, covenants or conditions contained in any Permitted Encumbrance or any other agreement or instrument to which it is a party or by which it or the Property is bound which might have a Material Adverse Effect. 
 4.6 Title. To Borrower’s Knowledge, Borrower has good, marketable and indefeasible title in fee to the real property and good title to
the balance of the Property, free and clear of all Liens except the Permitted Encumbrances. All transfer taxes, deed stamps, intangible taxes or other amounts in the nature of transfer taxes required to be paid by any Person under applicable Legal
Requirements in connection with the transfer of the Property to Borrower have been paid. The Mortgage when properly recorded in the appropriate records, together with any UCC Financing Statements required to be filed in connection therewith, will
create (i) a valid, perfected first priority lien on the Borrower’s interest in the Property and (ii) valid and perfected first priority security interests in and to, and perfected collateral assignments of, all personalty (including
the Leases), all in accordance with the terms thereof, in each case subject only to any applicable Permitted Encumbrances. All mortgage, recording, stamp, intangible or other similar taxes required to be paid by any Person under applicable Legal
Requirements in connection with the execution, delivery, recordation, filing, registration, perfection or enforcement of any of the Loan Documents have been paid. The Permitted Encumbrances will not have a Material Adverse Effect. To Borrower’s
Knowledge no Condemnation or other proceeding has been commenced or, to Borrower’s best knowledge, is contemplated with respect to all or part of the Property or for the relocation of roadways providing access to the Property. To
Borrower’s Knowledge and except as set forth in the Title Insurance Policy, there are no claims for payment 

  

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for work, labor or materials affecting the Property which are or may become a Lien prior to, or of equal priority with, the Liens created by the Loan
Documents. To Borrower’s Knowledge, there are no outstanding options to purchase or rights of first refusal affecting all or any portion of the Property. To Borrower’s Knowledge, the survey for the Property delivered to Lender does not
fail to reflect any material matter affecting the Property or the title thereto. Except as expressly set forth in the survey for the Property delivered to Lender, to Borrower’s Knowledge, all of the Improvements included in determining the
appraised value of the Property lie wholly within the boundaries and building restriction lines of the Property, and no improvement on an adjoining property encroaches upon the Property, and no easement or other encumbrance upon the Property
encroaches upon any of the Improvements, except those insured against by the Title Insurance Policy. To Borrower’s Knowledge, each parcel comprising the Property is a separate tax lot and is not a portion of any other tax lot that is not a part
of the Property. Except as set forth in the Title Insurance Policy and to Borrower’s Knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, or any contemplated
improvements to the Property that may result in such special or other assessments. 
 4.7 No Bankruptcy Filing. Borrower is not
contemplating either the filing of a petition by it under any state or federal bankruptcy or insolvency law or the liquidation of all or a major portion of its property (a “Bankruptcy Proceeding”), and Borrower has no
knowledge of any Person contemplating the filing of any such petition against it. In addition, neither Borrower nor Sole Member has been a party to, or the subject of a Bankruptcy Proceeding for the past ten (10) years. 
 4.8 Full and Accurate Disclosure. No statement of fact made by Borrower in any Loan Documents contains any untrue statement of a material
fact or omits to state any material fact necessary to make statements contained therein not misleading. There is no material fact presently known to Borrower that has not been disclosed to Lender which might have a Material Adverse Effect. All
financial data, including the statements of cash flow and income and operating expense, that have been delivered to Lender in respect of Borrower and, to Borrower’s Knowledge, the Property (i) are true, complete and correct in all material
respects, (ii) accurately represent the financial condition of Borrower and the Property as of the date of such reports, and (iii) to the extent prepared by an independent certified public accounting firm, have been prepared in accordance
with GAAP consistently applied throughout the periods covered, except as disclosed therein. Borrower has no contingent liabilities, liabilities for delinquent taxes, unusual forward or long-term commitments, unrealized or anticipated losses from any
unfavorable commitments or any liabilities or obligations not expressly permitted by this Agreement. Since the date of such financial statements, there has been no materially adverse change in the financial condition, operations or business of
Borrower or, to Borrower’s Knowledge, the Property from that set forth in said financial statements. 
 4.9 Tax Filings.
To the extent required, Borrower has filed (or has obtained effective extensions for filing) all federal, state and local tax returns required to be filed and have paid or made adequate provision for the payment of all federal, state and local
taxes, charges and assessments payable by Borrower. Borrower believes that its tax returns (if any) properly reflect the income and taxes of Borrower for the periods covered thereby, subject only to reasonable adjustments required by the Internal
Revenue Service or other applicable tax authority upon audit. 
  

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 4.10 ERISA; No Plan Assets. As of the date hereof and throughout the Term (i) Borrower
is not and will not be an “employee benefit plan,” as defined in Section 3(3) of ERISA, (ii) none of the assets of Borrower constitutes or will constitute “plan assets” of one or more such plans within the meaning of 29
C.F.R. Section 2510.3-101, (iii) Borrower is not and will not be a “governmental plan” within the meaning of Section 3(32) of ERISA, and (iv) transactions by or with Borrower are not and will not be subject to state
statutes regulating investment of, and fiduciary obligations with respect to, governmental plans. As of the date hereof, neither Borrower, nor any member of a “controlled group of corporations” (within the meaning of Section 414 of
the Code) maintains, sponsors or contributes to a “defined benefit plan” (within the meaning of Section 3(35) of ERISA) or a “multiemployer pension plan” (within the meaning of Section 3(37)(A) of ERISA). 
 4.11 Compliance. To Borrower’s Knowledge and except as set forth in the survey and the zoning report for the Property delivered to
Lender, Borrower and the Property and the use thereof comply in all material respects with all applicable Legal Requirements (including with respect to parking and applicable zoning and land use laws, regulations and ordinances). Borrower is not in
default or violation of any order, writ, injunction, decree or demand of any Governmental Authority, the violation of which might have a Material Adverse Effect. To Borrower’s Knowledge, the Property is used exclusively as a first class office
building and other appurtenant and related uses. To Borrower’s Knowledge, in the event that all or any part of the Improvements are destroyed or damaged, said Improvements can be legally reconstructed to their condition prior to such damage or
destruction, and thereafter exist for the same use without violating any zoning or other ordinances applicable thereto and without the necessity of obtaining any variances or special permits. To Borrower’s Knowledge, no legal proceedings are
pending or, to the knowledge of Borrower, threatened with respect to the zoning of the Property. Except as disclosed in the survey delivered to Lender and/or the title report delivered to Lender, neither the zoning nor any other right to construct,
use or operate the Property is in any way dependent upon or related to any property other than the Property. To Borrower’s Knowledge, all certifications, permits, licenses and approvals, including certificates of completion and occupancy
permits required for the legal use, occupancy and operation of the Property (collectively, the “Licenses”), have been obtained and are in full force and effect. To Borrower’s Knowledge, the use being made of the Property
is in conformity with the certificate of occupancy issued for the Property and all other restrictions, covenants and conditions affecting the Property. 
 4.12 Contracts. There are no service, maintenance or repair contracts affecting the Property that are not terminable on one (1) month’s notice or less without cause and without penalty or
premium. All service, maintenance or repair contracts affecting the Property have been entered into at arms-length in the ordinary course of Borrower’s business and provide for the payment of fees in amounts and upon terms comparable to
existing market rates. 
 4.13 Federal Reserve Regulations; Investment Company Act. No part of the proceeds of the Loan will be
used for the purpose of purchasing or acquiring any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System or 

  

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for any other purpose that would be inconsistent with such Regulation U or any other regulation of such Board of Governors, or for any purpose prohibited by
Legal Requirements or any Loan Document. Borrower is not (i) an “investment company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended;
(ii) a “holding company” or a “subsidiary company” of a “holding company” or an “affiliate” of either a “holding company” or a “subsidiary company” within the meaning of the Public
Utility Holding Company Act of 1935, as amended; or (iii) subject to any other federal or state law or regulation which purports to restrict or regulate its ability to borrow money. 
 4.14 Easements; Utilities and Public Access. To Borrower’s Knowledge, all easements, cross easements, licenses, air rights and
rights-of-way or other similar property interests (collectively, “Easements”), if any, necessary for the full utilization of the Improvements for their intended purposes have been obtained, are described in the Title
Insurance Policy and are in full force and effect without default thereunder. The Property has rights of access to public ways and is served by water, sewer, sanitary sewer and storm drain facilities adequate to service it for its intended uses. All
public utilities necessary or convenient to the full use and enjoyment of the Property are located in the public right-of-way abutting the Property, and all such utilities are connected so as to serve the Property without passing over other property
absent a valid easement. All roads necessary for the use of the Property for its current purpose have been completed and dedicated to public use and accepted by all Governmental Authorities. 
 4.15 Physical Condition. The Property, including all Improvements, parking facilities, systems, Equipment and landscaping, are in good
condition, order and repair in all material respects; to Borrower’s Knowledge, there exists no structural or other material defect or damages to the Property, whether latent or otherwise. Borrower has not received notice from any insurance
company or bonding company of any defect or inadequacy in the Property, or any part thereof, which would adversely affect its insurability or cause the imposition of extraordinary premiums or charges thereon or any termination of any policy of
insurance or bond. Except as disclosed in the survey delivered to Lender, to Borrower’s Knowledge, no portion of the Property is located in an area as identified by the Federal Emergency Management Agency as an area having special flood
hazards. The Improvements have suffered no material casualty or damage which has not been fully repaired and the cost thereof fully paid. 
 4.16 Leases. To Borrower’s Knowledge, the rent roll attached hereto as Schedule 3 (the “Rent Roll”) is true, complete and correct and the Property is not subject to any Leases other than the Leases
described in the Rent Roll or in the title report delivered to Lender. Except as set forth on the Rent Roll or as otherwise disclosed to Lender in writing: To Borrower’s Knowledge, (i) each Lease is in full force and effect; (ii) the
tenants under the Leases have accepted possession of and are in occupancy of all of their respective demised premises, have commenced the payment of rent under the Leases, and there are no offsets, claims or defenses to the enforcement thereof;
(iii) all rents due and payable under the Leases have been paid and no portion thereof has been paid for any period more than thirty (30) days in advance; (iv) the rent payable under each Lease is the amount of fixed rent set forth in
the Rent Roll, and there is no claim or basis for a claim by the tenant thereunder for an adjustment to the rent; (v) no tenant has made any claim against the landlord under any Lease which remains outstanding, there are no defaults on the part
of the landlord under any Lease, and no event has occurred which, with the 

  

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giving of notice or passage of time, or both, would constitute such a default; (vi) there is no present material default by the tenant under any Lease;
(vii) all security deposits under Leases are as set forth on the Rent Roll and are held consistent with Section 3.8 hereof; (viii) Borrower is the sole owner of the entire lessor’s interest in each Lease; (ix) each
Lease is the valid, binding and enforceable obligation of the Borrower and the applicable tenant thereunder; (x) no Person has any possessory interest in, or right to occupy, the Property except under the terms of the Lease; and (xi) each
Lease is subordinate to the Loan Documents, either pursuant to its terms or pursuant to a subordination and attornment agreement. None of the Leases contains any option to purchase or right of first refusal to purchase the Property or any part
thereof. Neither the Leases nor the Rents have been assigned or pledged except to Lender, and no other Person has any interest therein except the tenants thereunder. 
 4.17 Fraudulent Transfer. Borrower has not entered into the Loan or any Loan Document with the actual intent to hinder, delay, or defraud any creditor, and Borrower has received reasonably equivalent
value in exchange for its obligations under the Loan Documents. Giving effect to the transactions contemplated by the Loan Documents, the fair saleable value of Borrower’s assets exceeds and will, immediately following the execution and
delivery of the Loan Documents, exceed Borrower’s total probable liabilities, including subordinated, unliquidated, disputed or contingent liabilities, including the maximum amount of its contingent liabilities or its debts as such debts become
absolute and matured. Borrower’s assets do not and, immediately following the execution and delivery of the Loan Documents will not, constitute unreasonably small capital to carry out its business as conducted or as proposed to be conducted.
Borrower does not intend to, and does not believe that it will, incur debts and liabilities (including contingent liabilities and other commitments) beyond its ability to pay such debts as they mature (taking into account the timing and amounts to
be payable on or in respect of obligations of Borrower). 
 4.18 Ownership of Borrower. The sole managing member of Borrower is
the Sole Member. The direct membership interests in Borrower are owned free and clear of all Liens, warrants, options and rights to purchase. Borrower has no obligation to any Person to purchase, repurchase or issue any ownership interest in it. The
organizational chart attached hereto as Schedule 4 is complete and accurate and illustrates all Persons who have a direct or indirect ownership interest in Borrower other than those Persons who have a direct or indirect ownership in the REIT.

 4.19 Purchase Options. To Borrower’s Knowledge, neither the Property nor any part thereof is subject to any purchase
options or other similar rights in favor of third parties. 
 4.20 Management Agreement. The Management Agreement is in full
force and effect. There is no default, breach or violation existing thereunder, and no event has occurred (other than payments due but not yet delinquent) that, with the passage of time or the giving of notice, or both, would constitute a default,
breach or violation thereunder, by either party thereto. 
 4.21 Hazardous Substances. Except as set forth in the environmental
reports obtained by Lender in connection with the making of this Agreement, and to Borrower’s Knowledge, (i) the Property is not in violation of any Legal Requirement pertaining to or imposing liability or standards of conduct concerning
environmental regulation, contamination 

  

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or clean-up, including the Comprehensive Environmental Response, Compensation and Liability Act, the Resource Conservation and Recovery Act, the Emergency
Planning and Community Right-to-Know Act of 1986, the Hazardous Substances Transportation Act, the Solid Waste Disposal Act, the Clean Water Act, the Clean Air Act, the Toxic Substance Control Act, the Safe Drinking Water Act, the Occupational
Safety and Health Act, any state super-lien and environmental clean-up statutes (including with respect to Toxic Mold), any local law requiring related permits and licenses and all amendments to and regulations in respect of the foregoing laws
(collectively, “Environmental Laws”); (ii) the Property is not subject to any private or governmental Lien or judicial or administrative notice or action or inquiry, investigation or claim relating to hazardous, toxic
and/or dangerous substances, toxic mold or fungus of a type that may pose a risk to human health or the environment or would negatively impact the value of the Property (“Toxic Mold”) or any other substances or materials
which are included under or regulated by Environmental Laws (collectively, “Hazardous Substances”); (iii) no Hazardous Substances are or have been (including the period prior to Borrower’s acquisition of the
Property), discharged, generated, treated, disposed of or stored on, incorporated in, or removed or transported from the Property other than in compliance with all Environmental Laws; (iv) no Hazardous Substances are present in, on or under any
nearby real property which could migrate to or otherwise affect the Property; (v) no Toxic Mold is on or about the Property which requires remediation; (vi) no underground storage tanks exist on the Property and the Property has never been
used as a landfill; and (vii) there have been no environmental investigations, studies, audits, reviews or other analyses conducted by or on behalf of Borrower which have not been provided to Lender. 
 4.22 Name; Principal Place of Business. Borrower does not use and will not use any trade name and has not done and will not do business
under any name other than its actual name set forth herein. The principal place of business of Borrower is its primary address for notices as set forth in Section 6.1 hereof, and Borrower has no other place of business. 
 4.23 Other Debt. There is no indebtedness with respect to the Property or any excess cash flow or any residual interest therein, whether
secured or unsecured, other than Permitted Encumbrances and Permitted Indebtedness. 
 All of the representations and warranties in this
Article 4 and elsewhere in the Loan Documents (i) shall survive for so long as any portion of the Debt remains owing to Lender and (ii) shall be deemed to have been relied upon by Lender notwithstanding any investigation
heretofore or hereafter made by Lender or on its behalf, provided, however, that the representations, warranties and covenants set forth in Section 4.21 above shall survive in perpetuity. 
 5. COVENANTS 
 Until the end of the Term, Borrower hereby
covenants and agrees with Lender that: 
 5.1 Existence. Each of Borrower and Sole Member shall (i) do or cause to be done
all things necessary to preserve, renew and keep in full force and effect its existence, rights, and franchises, (ii) continue to engage in the business presently conducted by it, (iii) obtain and maintain all Licenses, and
(iv) qualify to do business and remain in good standing under the laws of each jurisdiction, in each case as and to the extent required for the ownership, maintenance, management and operation of the Property. 
  

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 5.2 Taxes and Other Charges. Borrower shall pay all Taxes and Other Charges as the same
become due and payable, and deliver to Lender receipts for payment or other evidence satisfactory to Lender that the Taxes and Other Charges have been so paid no later than thirty (30) days before they would be delinquent if not paid (provided,
however, that Borrower need not pay such Taxes nor furnish such receipts for payment of Taxes paid by Lender pursuant to Section 3.3 hereof). Borrower shall not suffer and shall promptly cause to be paid and discharged any Lien against
the Property, and shall promptly pay for all utility services provided to the Property. After prior notice to Lender, Borrower, at its own expense, may contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with
due diligence, the amount or validity or application of any Taxes or Other Charges, provided that (i) no Default or Event of Default has occurred and is continuing, (ii) such proceeding shall suspend the collection of the Taxes or such
Other Charges, (iii) such proceeding shall be permitted under and be conducted in accordance with the provisions of any other instrument to which Borrower is subject and shall not constitute a default thereunder, (iv) no part of or
interest in the Property will be in danger of being sold, forfeited, terminated, canceled or lost, (v) Borrower shall have furnished such security as may be required in the proceeding, to insure the payment of any such Taxes or Other Charges,
together with all interest and penalties thereon, and (vi) Borrower shall promptly upon final determination thereof pay the amount of such Taxes or Other Charges, together with all costs, interest and penalties. Lender may pay over any such
security or part thereof held by Lender to the claimant entitled thereto at any time when, in the judgment of Lender, the entitlement of such claimant is established. 
 5.3 Access to Property. Subject to the rights of tenants under the Leases, Borrower shall permit agents, representatives, consultants and employees of Lender to inspect the Property or any part thereof
at reasonable hours upon reasonable advance notice. 
 5.4 Repairs; Maintenance and Compliance; Alterations. 
 5.4.1 Repairs; Maintenance and Compliance. Borrower shall at all times maintain, preserve and protect all franchises and trade names, and
Borrower shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except for alterations performed in accordance with Section 5.4.2 below and
normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower shall promptly comply with all Legal Requirements and immediately cure properly any violation of a Legal Requirement. Borrower shall notify Lender in
writing within two (2) Business Days after Borrower first receives notice of any such non-compliance. Borrower shall promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and shall complete and
pay for any Improvements at any time in the process of construction or repair. 
 5.4.2 Alterations. Borrower may, without
Lender’s consent, perform alterations to the Improvements and Equipment which (i) do not constitute a Material Alteration, (ii) do not adversely affect Borrower’s financial condition or the value or Net Operating Income of the
Property and (iii) are in the ordinary course of Borrower’s business in operating and maintaining 

  

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the Property. Borrower shall not perform any Material Alteration without Lender’s prior written consent, which consent shall not be unreasonably
withheld or delayed. Lender may, as a condition to giving its consent to a Material Alteration, require that Borrower deliver to Lender security for payment of the cost of such Material Alteration in an amount in excess of $1,000,000 of the cost of
the Material Alteration as estimated by Lender. Upon substantial completion of the Material Alteration, Borrower shall provide evidence satisfactory to Lender that (i) the Material Alteration was constructed in accordance with applicable Legal
Requirements and substantially in accordance with plans and specifications approved by Lender (which approval shall not be unreasonably withheld or delayed), (ii) all contractors, subcontractors, materialmen and professionals who provided work,
materials or services in connection with the Material Alteration have been paid in full and have delivered unconditional releases of lien and (iii) all material Licenses necessary for the use, operation and occupancy of the Material Alteration
(other than those which depend on the performance of tenant improvement work) have been issued. Borrower shall reimburse Lender upon demand for all out-of-pocket costs and expenses (including the reasonable fees of any architect, engineer or other
professional engaged by Lender) incurred by Lender in reviewing plans and specifications or in making any determinations necessary to implement the provisions of this Section 5.4.2. 
 5.5 Performance of Other Agreements. Borrower shall observe and perform in all material respects each and every term to be observed or
performed by it pursuant to the terms of any agreement or instrument affecting or pertaining to the Property, including the Loan Documents. 
 5.6 Cooperate in Legal Proceedings. Borrower shall cooperate fully with Lender with respect to, and permit Lender, at its option, to participate in, any proceedings before any Governmental Authority which may in any way affect
the rights of Lender under any Loan Document. 
 5.7 Further Assurances. Borrower shall, at Borrower’s sole cost and
expense, (i) execute and deliver to Lender such documents, instruments, certificates, assignments and other writings, and do such other acts necessary or desirable, to evidence, preserve and/or protect the collateral at any time securing or
intended to secure the Debt and/or for the better and more effective carrying out of the intents and purposes of the Loan Documents, as Lender may reasonably require from time to time; and (ii) upon Lender’s request therefor given from
time to time after the occurrence of any Default or Event of Default pay for (a) reports of UCC, federal tax lien, state tax lien, judgment and pending litigation searches with respect to Borrower and Sole Member and (b) searches of title
to the Property, each such search to be conducted by search firms reasonably designated by Lender in each of the locations reasonably designated by Lender. 
 5.8 Environmental Matters. 
 5.8.1 Hazardous Substances. So long as Borrower owns
or is in possession of the Property, Borrower shall (i) keep the Property free from Hazardous Substances and in compliance with all Environmental Laws, (ii) promptly notify Lender if Borrower shall become aware that (A) any Hazardous
Substance is on or near the Property, (B) the Property is in violation of any Environmental Laws or (C) any condition on or near the Property shall pose a 

  

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threat to the health, safety or welfare of humans and (iii) remove such Hazardous Substances and/or cure such violations and/or remove such threats, as
applicable, as required by law, promptly after Borrower becomes aware of same, at Borrower’s sole expense. Nothing herein shall prevent Borrower from recovering such expenses from any other party that may be liable for such removal or cure.

 5.8.2 Environmental Monitoring. 
 (a) Borrower shall give prompt written notice to Lender of (i) any proceeding or inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from
or about the Property, (ii) all claims made or threatened by any third party (including any Governmental Authority) against Borrower or the Property or any party occupying the Property relating to any loss or injury resulting from any Hazardous
Substance, and (iii) Borrower’s discovery of any occurrence or condition on any real property adjoining or in the vicinity of the Property that could cause the Property to be subject to any investigation or cleanup pursuant to any
Environmental Law. Upon becoming aware of the presence of mold or fungus at the Property, Borrower shall (i) undertake an investigation to identify the source(s) of such mold or fungus and, to the extent required by applicable law, shall
develop and implement an appropriate remediation plan to eliminate the presence of any Toxic Mold, (ii) perform or cause to be performed all acts reasonably necessary for the remediation of any Toxic Mold (including taking any action necessary
to clean and disinfect any portions of the Property affected by Toxic Mold, including providing any necessary moisture control systems at the Property), and (iii) provide evidence reasonably satisfactory to Lender of the foregoing. Borrower
shall permit Lender to join and participate in, as a party if it so elects, any legal or administrative proceedings or other actions initiated with respect to the Property in connection with any Environmental Law or Hazardous Substance, and Borrower
shall pay all reasonable attorneys’ fees and disbursements incurred by Lender in connection therewith. 
 (b) If Lender, on its good
faith judgment, determines that reasonable cause exists for the performance of an environmental inspection or audit of the Property, at any time and from time to time upon Lender’s request, Borrower shall provide such inspection or audit of the
Property prepared by a licensed hydrogeologist, licensed environmental engineer or qualified environmental consulting firm approved by Lender assessing the presence or absence of Hazardous Substances on, in or near the Property, and if Lender in its
good faith judgment determines that reasonable cause exists for the performance of such environmental inspection or audit, then the cost and expense of such audit or inspection shall be paid by Borrower. Such inspections and audit may include soil
borings and ground water monitoring. If Borrower fails to provide any such inspection or audit within thirty (30) days after such request, Lender may order same, and Borrower hereby grants to Lender and its employees and agents access to the
Property and a license to undertake such inspection or audit. 
 (c) If any environmental site assessment report prepared in connection with
such inspection or audit recommends that an operations and maintenance plan be implemented for any Hazardous Substance, whether such Hazardous Substance existed prior to the ownership of the Property by Borrower, or presently exists or is reasonably
suspected of existing, Borrower shall cause such operations and maintenance plan to be prepared and implemented at its expense upon request of Lender, to the extent required by applicable law, and 

  

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with respect to any Toxic Mold, Borrower shall, to the extent required by applicable law, take all action necessary to clean and disinfect any portions of
the Improvements affected by Toxic Mold in or about the Improvements, including providing any necessary moisture control systems at the Property. If any investigation, site monitoring, containment, cleanup, removal, restoration or other work of any
kind is reasonably necessary under an applicable Environmental Law (“Remedial Work”), Borrower shall commence all such Remedial Work within thirty (30) days after written demand by Lender and thereafter diligently
prosecute to completion all such Remedial Work within such period of time as may be required under applicable law. All Remedial Work shall be performed by licensed contractors approved in advance by Lender and under the supervision of a consulting
engineer approved by Lender which approval shall not be unreasonably withheld or delayed. All costs of such Remedial Work shall be paid by Borrower, including Lender’s reasonable attorneys’ fees and disbursements incurred in connection
with the monitoring or review of such Remedial Work. If Borrower does not timely commence and diligently prosecute to completion the Remedial Work, Lender may (but shall not be obligated to) cause such Remedial Work to be performed at
Borrower’s expense. Notwithstanding the foregoing, Borrower shall not be required to commence such Remedial Work within the above specified time period: (x) if prevented from doing so by any Governmental Authority, (y) if commencing
such Remedial Work within such time period would result in Borrower or such Remedial Work violating any Environmental Law, or (z) if Borrower, at its expense and after prior written notice to Lender, is contesting by appropriate legal,
administrative or other proceedings, conducted in good faith and with due diligence, the need to perform Remedial Work. Borrower shall have the right to contest the need to perform such Remedial Work, provided that, (1) Borrower is permitted by
the applicable Environmental Laws to delay performance of the Remedial Work pending such proceedings, (2) neither the Property nor any part thereof or interest therein will be sold, forfeited or lost if Borrower fails to promptly perform the
Remedial Work being contested, and if Borrower fails to prevail in contest, Borrower would thereafter have the opportunity to perform such Remedial Work, (3) Lender would not, by virtue of such permitted contest, be exposed to any risk of any
civil liability for which Borrower has not furnished additional security as provided in clause (4) below, or to any risk of criminal liability, and neither the Property nor any interest therein would be subject to the imposition of any Lien for
which Borrower has not furnished additional security as provided in clause (4) below, as a result of the failure to perform such Remedial Work and (4) Borrower shall have furnished to Lender additional security in respect of the Remedial
Work being contested and the loss or damage that may result from Borrower’s failure to prevail in such contest in such amount as may be reasonably requested by Lender but in no event less than the cost of such Remedial Work as estimated by
Lender and Borrower or Lender’s Consultant and any loss or damage that may result from Borrower’s failure to prevail in such contest. 
 (d) Borrower shall not install or permit to be installed on the Property any underground storage tank. 
 5.9 Title to the
Property. Borrower will warrant and defend the title to the Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all
Persons. 
  

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 5.10 Leases. 
 5.10.1 Generally. Upon request, Borrower shall furnish Lender with executed copies of all Leases then in effect. All renewals of Leases and all proposed leases shall be arm’s length transactions
with bona fide, independent third-party tenants. 
 5.10.2 Leasing. The following shall apply (a) so long as the Mezzanine
Loan is outstanding and the Combined LTV is greater than 80%, or (b) an Event of Default is continuing: Borrower shall not enter into a proposed Material Lease or a proposed renewal, extension or modification of an existing Material Lease
without the prior written consent of Lender, which consent shall not, so long as no Event of Default is continuing, be unreasonably withheld or delayed. Prior to seeking Lender’s consent to any Material Lease, Borrower shall deliver to Lender a
copy of such proposed lease (a “Proposed Material Lease”) blacklined to show changes from the standard form of Lease approved by Lender and then being used by Borrower. Lender shall approve or disapprove each Proposed
Material Lease or proposed renewal, extension or modification of an existing Material Lease for which Lender’s approval is required under this Agreement within five (5) Business Days of the submission by Borrower to Lender of a written
request for such approval, accompanied by a final copy of the Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease. If requested by Borrower, Lender will grant conditional approvals of Proposed
Material Leases or proposed renewals, extensions or modifications of existing Material Leases at any stage of the leasing process, from initial “term sheet” through negotiated lease drafts, provided that Lender shall retain the right to
disapprove any such Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease, if subsequent to any preliminary approval material changes are made to the terms previously approved by Lender, or additional
material terms are added that had not previously been considered and approved by Lender in connection with such Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease. Provided that no Event of Default
is continuing, if Borrower provides Lender with a written request for approval (which written request shall specifically refer to this Section 5.10.2 and shall explicitly state in 14-point bold type that failure by Lender to approve or
disapprove within five (5) Business Days will constitute a deemed approval) and Lender fails to reject the request in writing delivered to Borrower within five (5) Business Days after receipt by Lender of the request, the Proposed Material
Lease or proposed renewal, extension or modification of an existing Material Lease shall be deemed approved by Lender, and Borrower shall be entitled to enter into such Proposed Material Lease or proposed renewal, extension or modification of an
existing Material Lease. 
 5.10.3 Lease Execution and Modification. 
 (a) In no event shall any Lease contain any option to purchase or any right of first refusal to purchase. Borrower shall deliver to Lender copies of all
Leases within thirty (30) days after the execution of the Lease. 
 (b) Borrower (i) shall observe and perform the material
obligations imposed upon the lessor under the Leases and shall not do or permit anything to impair the value of the Leases as security for the Debt; (ii) shall promptly send copies to Lender of all notices of default that Borrower shall send or
receive under any Lease; (iii) shall enforce, in accordance 

  

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with commercially reasonable practices for properties similar to the Property, the terms, covenants and conditions in the Leases to be observed or performed
by the lessees, short of termination thereof; (iv) shall not collect any of the Rents more than one (1) month in advance (other than security deposits); (v) shall not execute any other assignment of lessor’s interest in the
Leases or the Rents (except as contemplated by the Loan Documents); (vi) shall not modify any Lease in a manner inconsistent with Section 5.10; and (vii) shall not convey or transfer or suffer or permit a conveyance or transfer
of the Property so as to effect a merger of the estates and rights of, or a termination or diminution of the obligations of, lessees under Leases. 
 5.11 Estoppel Statement. After request by Lender, Borrower shall within ten (10) days furnish Lender with a statement addressed to Lender, its successors and assigns, duly acknowledged and certified, setting forth
(i) the unpaid Principal, (ii) the Interest Rate, (iii) the date installments of interest and/or Principal were last paid, (iv) any offsets or defenses to the payment of the Debt, and (v) that the Loan Documents are valid,
legal and binding obligations and have not been modified or if modified, giving particulars of such modification. 
 5.12 Property
Management. 
 5.12.1 Management Agreement. Borrower shall (i) cause the Property to be managed pursuant to the
Management Agreement; (ii) promptly perform and observe all of the covenants required to be performed and observed by it under the Management Agreement and do all things necessary to preserve and to keep unimpaired its rights thereunder;
(iii) promptly notify Lender of any default under the Management Agreement of which it is aware; (iv) if requested, promptly deliver to Lender a copy of each financial statement, business plan, capital expenditure plan, and property
improvement plan and any other notice, report and estimate received by Borrower under the Management Agreement; and (v) promptly enforce the performance and observance of all of the covenants required to be performed and observed by Manager
under the Management Agreement, the failure of which covenants could cause a Material Adverse Effect. Without Lender’s prior written consent (not to be unreasonably withheld), Borrower shall not (a) surrender, terminate, cancel, extend or
renew the Management Agreement or otherwise replace the Manager or enter into any other management agreement (except as provided below in this Section 5.12.1); (b) reduce or consent to the reduction of the term of the Management
Agreement; (c) increase or consent to the increase of the amount of any charges under the Management Agreement; (d) otherwise modify, change, supplement, alter or amend in any material respect, or waive or release any of its rights and
remedies under, the Management Agreement; or (e) suffer or permit the occurrence and continuance of a default beyond any applicable cure period under the Management Agreement (or any successor management agreement) if such default permits the
Manager to terminate the Management Agreement (or such successor management agreement). For so long as the Mezzanine Loan is outstanding, Borrower may from time to time appoint, without Lender’s consent, a successor manager to manage the
Property, provided that (A) Borrower provides to Lender prompt notice of such appointment and provides to Lender such items and information regarding such appointment and successor manager as Lender may reasonably request, (B) such
successor manager has the management expertise in managing properties similar in size and type to the Property (provided, that such condition shall be deemed satisfied if the successor manager is CB Richard Ellis, Jones Lang or PM Realty Group,
(C) the property management agreement with such successor manager provides compensation to the manager at market rates for similar properties and 

  

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otherwise contains economic terms that are no less favorable to Borrower than such terms that were contained in the property management agreement with the
prior property manager, and (D) such successor manager promptly executes a consent and subordination of management agreement substantially in the form of the Consent and Subordination of Manager of even date herewith executed and delivered by
Manager to Lender. After the Mezzanine Loan is paid in full, Borrower may from time to time appoint, without Lender’s consent, a successor manager to manage the Property, provided that (A) Borrower provides to Lender prompt notice of such
appointment and provides to Lender such items and information regarding such appointment and successor manager as Lender may reasonably request, (B) the property management agreement with such successor manager provides compensation to the
manager at market rates for similar properties, and (C) such successor manager promptly executes a consent and subordination of management agreement substantially in the form of the Consent and Subordination of Manager of even date herewith
executed and delivered by Manager to Lender. 
 5.12.2 Termination of Manager. If (i) an Event of Default shall be
continuing, or (ii) upon the gross negligence, malfeasance or willful misconduct of the Manager, Borrower shall, at the request of Lender, terminate the Management Agreement and replace Manager with a replacement manager acceptable to Lender in
Lender’s discretion and the applicable Rating Agencies on terms and conditions satisfactory to Lender and the applicable Rating Agencies. Borrower’s failure to appoint an acceptable manager within thirty (30) days after Lender’s
request of Borrower to terminate the Management Agreement shall constitute an immediate Event of Default. 
 5.13 Special Purpose
Bankruptcy Remote Entity. Borrower shall at all times be a Special Purpose Bankruptcy Remote Entity. Borrower shall not directly or indirectly make any change, amendment or modification to its organizational documents, or otherwise take any
action which could result in Borrower not being a Special Purpose Bankruptcy Remote Entity. A “Special Purpose Bankruptcy Remote Entity” shall have the meaning set forth on Schedule 5 hereto. 
 5.14 Assumption in Non-Consolidation Opinion. Borrower and Sole Member shall each conduct its business so that the assumptions (with
respect to each Person) made in that certain substantive non-consolidation opinion letter delivered by Borrower’s counsel in connection with the Loan, shall be true and correct in all respects. 
 5.15 Change in Business or Operation of Property. Borrower shall not purchase or own any real property other than the Property and shall
not enter into any line of business other than the ownership and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than
the continuance of its present business or otherwise cease to operate the Property as a first class office building property or terminate such business for any reason whatsoever (other than temporary cessation in connection with renovations to the
Property). 
 5.16 Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than
termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business. 
  

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 5.17 Affiliate Transactions. Borrower shall not enter into, or be a party to, any
transaction with an Affiliate of Borrower or any of the members of Borrower except in the ordinary course of business and on terms which are fully disclosed to Lender in advance and are no less favorable to Borrower or such Affiliate than would be
obtained in a comparable arm’s-length transaction with an unrelated third party. 
 5.18 Zoning. Borrower shall not
initiate or consent to any zoning reclassification of any portion of the Property or seek any variance under any existing zoning ordinance or use or permit the use of any portion of the Property in any manner that could result in such use becoming a
non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation, without the prior consent of Lender, which consent shall not be unreasonably withheld or delayed. 
 5.19 No Joint Assessment. Borrower shall not suffer, permit or initiate the joint assessment of the Property (i) with any other real
property constituting a tax lot separate from the Property, and (ii) with any portion of the Property which may be deemed to constitute personal property, or any other procedure whereby the lien of any taxes which may be levied against such
personal property shall be assessed or levied or charged to the Property. 
 5.20 Principal Place of Business. Borrower shall
not change its principal place of business or chief executive office without first giving Lender thirty (30) days’ prior notice. 
 5.21 Change of Name, Identity or Structure. Borrower shall not change its name, identity (including its trade name or names) or Borrower’s corporate, partnership or other structure without notifying Lender of such change
in writing at least thirty (30) days prior to the effective date of such change and, in the case of a change in Borrower’s structure that could result in Borrower not being a Special Purpose Bankruptcy Remote Entity or result in a
violation of the transfer provisions of the Loan Documents, without first obtaining the prior written consent of Lender. Borrower shall execute and deliver to Lender, prior to or contemporaneously with the effective date of any such change, any
financing statement or financing statement change required by Lender to establish or maintain the validity, perfection and priority of the security interest granted herein. At the request of Lender, Borrower shall execute a certificate in form
satisfactory to Lender listing the trade names under which Borrower intends to operate the Property, and representing and warranting that Borrower does business under no other trade name with respect to the Property. 
 5.22 Indebtedness. Borrower shall not create, incur or assume any indebtedness other than (i) the Debt, and (ii) unsecured trade
payables, unsecured capital expenses and operating expenses incurred in the ordinary course of business relating to the ownership and operation of the Property which (A) are not evidenced by a note, (B) do not exceed, at any time, a
maximum aggregate amount of three percent (3%) of the original amount of the Principal (except that real estate taxes and insurance premiums shall not be included in the calculation of such 3% threshold), and (C) are paid within sixty
(60) days after the date incurred (collectively, “Permitted Indebtedness”). 
 5.23 Licenses.
Borrower shall not Transfer any License required for the operation of the Property. 
  

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 5.24 Compliance with Restrictive Covenants, Etc. Borrower will not enter into, modify,
waive in any material respect or release any Easements, restrictive covenants or other Permitted Encumbrances, or suffer, consent to or permit the foregoing, without Lender’s prior written consent, which consent may be granted or denied in
Lender’s reasonable discretion. 
 5.25 ERISA. 
 5.25.1 Borrower shall not engage in any transaction which would cause any obligation, or action taken or to be taken, hereunder (or the exercise by
Lender of any of its rights under the Note, this Agreement or the other Loan Documents) to be a non-exempt (under a statutory or administrative class exemption) prohibited transaction under ERISA. 
 5.25.2 Borrower shall not maintain, sponsor, contribute to or become obligated to contribute to, or suffer or permit any ERISA Affiliate of
Borrower to, maintain, sponsor, contribute to or become obligated to contribute to, any Plan or any Welfare Plan or permit the assets of Borrower to become “plan assets,” whether by operation of law or under regulations promulgated under
ERISA. 
 5.25.3 Borrower shall deliver to Lender such certifications or other evidence from time to time throughout the Term, as
requested by Lender in its sole discretion, that (A) Borrower is not and does not maintain an “employee benefit plan” as defined in Section 3(3) of ERISA, which is subject to Title I of ERISA, or a “governmental plan”
within the meaning of Section 3(32) of ERISA; (B) Borrower is not subject to state statutes regulating investments and fiduciary obligations with respect to governmental plans; and (C) the assets of Borrower do not constitute
“plan assets” within the meaning of 29 C.F.R. Section 2510.3-101. 
 5.26 Prohibited Transfers. 
 5.26.1 Generally. Borrower shall not make, suffer or permit the occurrence of any Transfer other than a Permitted Transfer. 
 5.26.2 Transfer and Assumption. 
 (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all the conditions precedent set forth in this Section 5.26.2, Borrower shall have a right to Transfer the Property to another party (the
“Transferee Borrower”) and have the Transferee Borrower assume all of Borrower’s obligations under the Loan Documents (collectively, a “Transfer and Assumption”). Borrower may make a written
application to Lender for Lender’s consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.26.2. Together with such written application, Borrower will pay to
Lender the reasonable review fee then required by Lender. Borrower also shall pay on demand all of the reasonable costs and expenses incurred by Lender, including reasonable attorneys’ fees and expenses, and including the fees and expenses of
Rating Agencies and other outside entities, in connection with considering any proposed Transfer and Assumption, whether or not the same is permitted or occurs. 
  

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 (b) Lender’s consent, which may be withheld in Lender’s reasonable discretion, to a Transfer
and Assumption shall be subject to the following conditions: 
 (i) No Event of Default has occurred and is continuing; 
 (ii) Borrower has submitted to Lender true, correct and complete copies of any and all information and documents of any kind requested by Lender
concerning the Property, Transferee Borrower, replacement guarantors and indemnitors and Borrower; 
 (iii) Evidence satisfactory to Lender
has been provided showing that the Transferee Borrower and such of its Affiliates as shall be designated by Lender comply and will comply with Section 5.13 hereof, as those provisions may be modified by Lender taking into account the
ownership structure of Transferee Borrower and its Affiliates; 
 (iv) If the Loan, by itself or together with other loans, has been the
subject of a Secondary Market Transaction, then Lender shall have received a Rating Comfort Letter from the applicable Rating Agencies; 
 (v) If the Loan has not been the subject of a Secondary Market Transaction, then Lender shall have determined in its reasonable discretion (taking into consideration such factors as Lender may determine, including the attributes of the loan
pool in which the Loan might reasonably be expected to be securitized) that no rating for any securities that would be issued in connection with such securitization will be diminished, qualified, or withheld by reason of the Transfer and Assumption;

 (vi) Borrower shall have paid all of Lender’s reasonable costs and expenses in connection with considering the Transfer and
Assumption, and shall have paid the amount requested by Lender as a deposit against Lender’s costs and expenses in connection with the effecting the Transfer and Assumption; 
 (vii) Borrower and the Transferee Borrower shall have indicated in writing in form and substance reasonably satisfactory to Lender their readiness and
ability to satisfy the conditions set forth in subsection (c) below; 
 (viii) The identity, experience, financial condition and
creditworthiness of the Transferee Borrower shall be reasonably satisfactory to Lender; 
 (ix) The proposed property manager and proposed
Management Agreement shall be satisfactory to Lender and the applicable Rating Agencies; 
 (x) All Approved Mezzanine Loans have been paid
in full. 
 (c) If Lender consents to the Transfer and Assumption, the Transferee Borrower and/or Borrower as the case may be, shall
immediately deliver the following to Lender: 
  

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 (i) Borrower shall deliver to Lender an assumption fee in the amount of (i) one-half percent (0.5%)
of the then unpaid Principal for the first Transfer and Assumption and one percent (1%) of the then unpaid Principal for each Transfer and Assumption thereafter; 
 (ii) Borrower and Transferee Borrower shall execute and deliver to Lender any and all documents required by Lender, in form and substance required by Lender, in Lender’s sole discretion; 
 (iii) Counsel to the Transferee Borrower shall deliver to Lender opinions in form and substance satisfactory to Lender as to such matters as Lender
shall reasonably require, which may include opinions as to substantially the same matters and were required in connection with the origination of the Loan (including a new substantive non-consolidation opinion with respect to the Transferee
Borrower); 
 (iv) Borrower shall cause to be delivered to Lender, an endorsement (relating to the change in the identity of the vestee and
execution and delivery of the Transfer and Assumption documents) to the Title Insurance Policies in form and substance acceptable to Lender, in Lender’s reasonable discretion (the “Endorsement”); and 
 (v) Borrower shall deliver to Lender a payment in the amount of all remaining unpaid costs incurred by Lender in connection with the Transfer and
Assumption, including but not limited to, Lender’s reasonable attorneys fees and expenses, all recording fees, and all fees payable to the title company for the delivery to Lender of the Endorsement. 
 5.27 Liens. Without Lender’s prior written consent, Borrower shall not create, incur, assume, permit or suffer to exist any Lien on
all or any portion of the Property or any direct or indirect legal or beneficial ownership interest in Borrower or Sole Member, except Liens in favor of Lender and Permitted Encumbrances, unless such Lien is bonded or discharged within thirty
(30) days after Borrower first receives notice of such Lien. 
 5.28 Dissolution. Borrower shall not (i) engage in
any dissolution, liquidation or consolidation or merger with or into any other business entity, (ii) engage in any business activity not related to the ownership and operation of the Property or (iii) transfer, lease or sell, in one
transaction or any combination of transactions, all or substantially all of the property or assets of Borrower except to the extent expressly permitted by the Loan Documents. 
 5.29 Expenses. Subject to Section 9.1.1(A), Borrower shall reimburse Lender upon receipt of notice for all reasonable
out-of-pocket costs and expenses (including reasonable attorneys’ fees and disbursements) incurred by Lender or Servicer in connection with the Loan, including (i) the preparation, negotiation, execution and delivery of the Loan Documents
and the consummation of the transactions contemplated thereby and all the costs of furnishing all opinions by counsel for Borrower; (ii) Borrower’s and Lender’s ongoing performance under and compliance with the Loan Documents,
including confirming compliance with environmental and insurance requirements; (iii) the negotiation, preparation, execution, delivery and administration of any consents, amendments, waivers or other modifications of or under any Loan Document

  

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and any other documents or matters requested by Lender; (iv) filing and recording of any Loan Documents; (v) title insurance, surveys, inspections
and appraisals; (vi) the creation, perfection or protection of Lender’s Liens in the Property and the Cash Management Accounts (including fees and expenses for title and lien searches, intangibles taxes, personal property taxes, Mortgage,
recording taxes, due diligence expenses, travel expenses, accounting firm fees, costs of appraisals, environmental reports and Lender’s Consultant, surveys and engineering reports); (vii) enforcing or preserving any rights in response to
third party claims or the prosecuting or defending of any action or proceeding or other litigation, in each case against, under or affecting Borrower, the Loan Documents, the Property, or any other security given for the Loan; (viii) fees
charged by Servicer or the Rating Agencies in connection with the Loan or any modification thereof and (ix) enforcing any obligations of or collecting any payments due from Borrower under any Loan Document or with respect to the Property or in
connection with any refinancing or restructuring of the Loan in the nature of a “work-out”, or any insolvency or bankruptcy proceedings. Any costs and expenses due and payable by Borrower hereunder which are not paid by Borrower within ten
(10) days after demand may be paid from any amounts in the Deposit Account, with notice thereof to Borrower. The obligations and liabilities of Borrower under this Section 5.29 shall survive the Term and the exercise by Lender of
any of its rights or remedies under the Loan Documents, including the acquisition of the Property by foreclosure or a conveyance in lieu of foreclosure. Notwithstanding the foregoing, in no event shall any of the costs and expenses described in this
Section 5.29 above include ongoing regular servicing fees relating to the day-to-day servicing of the Loan, for which Borrower shall not be charged. 
 5.30 Indemnity. Borrower shall defend, indemnify and hold harmless Lender and each of its Affiliates and their respective successors and assigns, including the directors, officers, partners, members,
shareholders, participants, employees, professionals and agents of any of the foregoing (including any Servicer) and each other Person, if any, who Controls Lender, its Affiliates or any of the foregoing (each, an “Indemnified
Party”), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses and disbursements of any kind or nature whatsoever (including the reasonable fees and
disbursements of counsel for an Indemnified Party in connection with any investigative, administrative or judicial proceeding commenced or threatened, whether or not Lender shall be designated a party thereto, court costs and costs of appeal at all
appellate levels, investigation and laboratory fees, consultant fees and litigation expenses), that may be imposed on, incurred by, or asserted against any Indemnified Party (collectively, the “Indemnified Liabilities”) in
any manner, relating to or arising out of or by reason of the Loan, including: (i) any breach by Borrower of its obligations under, or any misrepresentation by Borrower contained in, any Loan Document; (ii) the use or intended use of the
proceeds of the Loan; (iii) any information provided by or on behalf of Borrower, or contained in any documentation approved by Borrower; (iv) ownership of the Mortgage, the Property or any interest therein, or receipt of any Rents;
(v) any accident, injury to or death of persons or loss of or damage to property occurring in, on or about the Property or on the adjoining sidewalks, curbs, adjacent property or adjacent parking areas, streets or ways; (vi) any use,
nonuse or condition in, on or about the Property or on adjoining sidewalks, curbs, adjacent property or adjacent parking areas, streets or ways; (vii) performance of any labor or services or the furnishing of any materials or other property in
respect of the Property; (viii) the presence, disposal, escape, seepage, leakage, spillage, discharge, emission, release, or threatened release of any Hazardous Substance on, from or 

  

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affecting the Property; (ix) any personal injury (including wrongful death) or property damage (real or personal) arising out of or related to such
Hazardous Substance; (x) any lawsuit brought or threatened, settlement reached, or government order relating to such Hazardous Substance; (xi) any violation of the Environmental Laws which is based upon or in any way related to such
Hazardous Substance, including the costs and expenses of any Remedial Work; (xii) any failure of the Property to comply with any Legal Requirement; (xiii) any claim by brokers, finders or similar persons claiming to be entitled to a
commission in connection with any Lease or other transaction involving the Property or any part thereof, or any liability asserted against Lender with respect thereto; and (xiv) the claims of any lessee of any portion of the Property or any
Person acting through or under any lessee or otherwise arising under or as a consequence of any Lease; provided, however, that Borrower shall not have any obligation to any Indemnified Party hereunder to the extent that it is finally judicially
determined that such Indemnified Liabilities arise from the gross negligence, illegal acts, fraud or willful misconduct of such Indemnified Party and provided, further, that Borrower shall not have any obligation to any Indemnified Party to the
extent that it is finally judicially determined that such Indemnified Liability arises solely from the failure of Lender or any third party or other respective agents to comply with any applicable federal, state or other securities or “blue
sky” laws or regulations thereunder. Any amounts payable to any Indemnified Party by reason of the application of this paragraph shall be payable on demand and shall bear interest at the Default Rate from the date loss or damage is sustained by
any Indemnified Party until paid. The obligations and liabilities of Borrower under this Section 5.30 shall survive the Term and the exercise by Lender of any of its rights or remedies under the Loan Documents, including the acquisition
of the Property by foreclosure or a conveyance in lieu of foreclosure. 
 5.31 Patriot Act Compliance. Borrower will use its
good faith and commercially reasonable efforts to comply with the Patriot Act (as defined below) and all applicable requirements of governmental authorities having jurisdiction over Borrower and the Property, including those relating to money
laundering and terrorism. Lender shall have the right to audit Borrower’s compliance with the Patriot Act and all applicable requirements of governmental authorities having jurisdiction over Borrower and the Property, including those relating
to money laundering and terrorism. In the event that Borrower fails to comply with the Patriot Act or any such requirements of governmental authorities, then Lender may, at its option, cause Borrower to comply therewith and any and all reasonable
costs and expenses incurred by Lender in connection therewith shall be secured by the Mortgage and the other Loan Documents and shall be immediately due and payable. For purposes hereof, the term “Patriot Act” means the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as the same may be amended from time to time, and corresponding provisions of future laws. 
 (a) Neither Borrower nor any member of Borrower or member or partner of such member nor to Borrower’s Knowledge, any owner of a direct or indirect
interest in Borrower (a) is listed on any Government Lists (as defined below), (b) is a person who has been determined by competent authority to be subject to the prohibitions contained in Presidential Executive Order No. 13224
(Sept. 23, 2001) or any other similar prohibitions contained in the rules and regulations of OFAC (as defined below) or in any enabling legislation or other Presidential Executive Orders in respect thereof, (c) has been previously indicted
for or 

  

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convicted of any felony involving a crime or crimes of moral turpitude or for any Patriot Act Offense (as defined below), or (d) is currently under
investigation by any governmental authority for alleged criminal activity. For purposes hereof, the term “Patriot Act Offense” means any violation of the criminal laws of the United States of America or of any of the several
states, or that would be a criminal violation if committed within the jurisdiction of the United States of America or any of the several states, relating to terrorism or the laundering of monetary instruments, including any offense under
(a) the criminal laws against terrorism; (b) the criminal laws against money laundering, (c) the Bank Secrecy Act, as amended, (d) the Money Laundering Control Act of 1986, as amended, or the (e) Patriot Act. “Patriot
Act Offense” also includes the crimes of conspiracy to commit, or aiding and abetting another to commit, a Patriot Act Offense. For purposes hereof, the term “Government Lists” means (i) the Specially Designated
Nationals and Blocked Persons Lists maintained by Office of Foreign Assets Control (“OFAC”), (ii) any other list of terrorists, terrorist organizations or narcotics traffickers maintained pursuant to any of the Rules and
Regulations of OFAC that Lender notified Borrower in writing is now included in “Governmental Lists”, or (iii) any similar lists maintained by the United States Department of State, the United States Department of Commerce or any
other government authority or pursuant to any Executive Order of the President of the United States of America that Lender notified Borrower in writing is now included in “Governmental Lists”. 
 6. NOTICES AND REPORTING 
 6.1
Notices. All notices, consents, approvals and requests required or permitted hereunder or under any other Loan Document (a “Notice”) shall be given in writing and shall be effective for all purposes if either hand
delivered with receipt acknowledged, or by a nationally recognized overnight delivery service (such as Federal Express), or by certified or registered United States mail, return receipt requested, postage prepaid, or by facsimile and confirmed by
facsimile answer back, in each case addressed as follows (or to such other address or Person as a party shall designate from time to time by notice to the other party): If to Lender: Greenwich Capital Financial Products, Inc., 600 Steamboat Road,
Greenwich, Connecticut 06830, Attention: Mortgage Loan Department, Telecopier (203) 618-2052, with a copy to: Allen Matkins Leck Gamble, Mallory & Natsis LLP, 515 South Figueroa Street, Seventh Floor, Los Angeles, California
90071-3398, Attention: Gregg J. Loubier, Esq., Telecopier: (213) 620-8816; if to Borrower: c/o KBS Capital Advisors, 620 Newport Center Drive, Suite 1300, Newport Beach, CA 92660, Attention: Stacie Yamane, Telecopier: (949) 417-6523, with
a copy to: KBS Capital Advisors, 620 Newport Center Drive, Suite 1300, Newport Beach, CA 92660, Attention: Rodney Richerson, Telecopier: (949) 250-6055. A notice shall be deemed to have been given: in the case of hand delivery, at the time of
delivery; in the case of registered or certified mail, when delivered or the first attempted delivery on a Business Day; in the case of overnight delivery, upon the first attempted delivery on a Business Day; or in the case of facsimile, upon the
confirmation of such facsimile transmission. 
 6.2 Borrower Notices and Deliveries. Borrower shall (a) give prompt
written notice to Lender of: (i) any litigation, governmental proceedings or claims or investigations pending or threatened against Borrower or Sole Member which might materially adversely affect Borrower’s or Sole Member’s condition
(financial or otherwise) or business or the Property; (ii) any material adverse change in Borrower’s or Sole Member’s condition, financial or otherwise, or of the occurrence of any Default or Event of Default of which Borrower has
knowledge; and (b) furnish 

  

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and provide to Lender: (i) any Securities and Exchange Commission or other public filings, if any, of Borrower, Sole Member, Manager, or any Affiliate
of any of the foregoing within two (2) Business Days of such filing and (ii) all instruments, documents, boundary surveys, footing or foundation surveys, certificates, plans and specifications, appraisals, title and other insurance reports
and agreements, reasonably requested, from time to time, by Lender. In addition, after request by Lender (but no more frequently than twice in any year), Borrower shall furnish to Lender (x) within ten (10) days, a certificate addressed to
Lender, its successors and assigns reaffirming all representations and warranties of Borrower set forth in the Loan Documents as of the date requested by Lender or, to the extent of any changes to any such representations and warranties, so stating
such changes, and (y) during an Event of Default, within thirty (30) days, tenant estoppel certificates addressed to Lender, its successors and assigns from each tenant at the Property in form and substance reasonably satisfactory to
Lender. 
 6.3 Financial Reporting. 
 6.3.1 Bookkeeping. Borrower shall keep on a calendar year basis, in accordance with GAAP, proper and accurate books, records and accounts reflecting all of the financial affairs of Borrower and all items
of income and expense and any services, Equipment or furnishings provided in connection with the operation of the Property, whether such income or expense is realized by Borrower, Manager or any Affiliate of Borrower. Lender shall have the right
from time to time during normal business hours upon reasonable notice to examine such books, records and accounts at the office of Borrower or other Person maintaining them, and to make such copies or extracts thereof as Lender shall desire. After
an Event of Default, Borrower shall pay any costs incurred by Lender to examine such books, records and accounts, as Lender shall determine to be necessary or appropriate in the protection of Lender’s interest. 
 6.3.2 Annual Reports. Borrower shall furnish to Lender annually, within 120 days after each calendar year, a complete copy of the
REIT’s annual financial statements prepared in accordance to GAAP audited by a “big four” accounting firm or another independent certified public accountant (accompanied by an unqualified opinion from such accounting firm or other
independent certified public accountant) reasonably acceptable to Lender. In addition, Borrower shall furnish annual unaudited financial statements of the Borrower, each in accordance with GAAP and containing balance sheets and statements of profit
and loss for Borrower and the Property in such form that is reasonably acceptable to Lender. Each such statement (x) shall be in form and substance that is reasonably satisfactory to Lender, (y) shall set forth the financial condition and
the income and expenses for the Property for the immediately preceding calendar year, including statements of annual Net Operating Income as well as (1) a list of tenants, if any, occupying more than twenty percent (20%) of the rentable
space of the Property, (2) a breakdown showing (a) the year in which each Lease then in effect expires, (b) the percentage of rentable space covered by such Lease, (c) the percentage of base rent with respect to which Leases
shall expire in each such year, expressed both on a per year and a cumulative basis and (z) shall be accompanied by an Officer’s Certificate certifying that to the best of their knowledge and belief (1) that such statement is true,
correct, complete and accurate and presents fairly the financial condition of the Property and has been prepared in accordance with GAAP and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of
time it has existed and the action then being taken to remedy it. 
  

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 6.3.3 Monthly/Quarterly Reports. At any time prior to the date that Lender sells its entire
interest in the Loan Documents, Borrower shall furnish to Lender within forty-five (45) days after the end of each calendar month the following items: (i) monthly and year-to-date operating statements, noting Net Operating Income and other
information necessary and sufficient under GAAP to fairly represent the financial position and results of operation of the Property during such calendar month, all in form that is reasonably satisfactory to Lender; (ii) a balance sheet for such
calendar month; (iii) a comparison of the budgeted income and expenses and the actual income and expenses for each month and year-to-date for the Property, together with a detailed explanation of any variances of ten percent (10%) or more
between budgeted and actual amounts for such period and year-to-date; (iv) a statement of the actual Capital Expenses made by Borrower during each calendar month as of the last day of such calendar month; (v) a statement that Borrower has
not incurred any indebtedness other than indebtedness permitted hereunder or under the Senior Loan Documents; (vi) an aged receivables report and (vii) rent rolls identifying the leased premises, names of all tenants, units leased, monthly
rental and all other charges payable under each Lease, date to which paid, term of Lease, date of occupancy, date of expiration, material special provisions, concessions or inducements granted to tenants, and a year-by-year schedule showing by
percentage the rentable area of the Improvements and the total base rent attributable to Leases expiring each year) and a delinquency report for the Property. Thereafter, Borrower shall furnish to Lender within forty-five (45) days after the
end of each calendar quarter the following items: (i) quarterly and year-to-date operating statements, noting Net Operating Income and other information necessary and sufficient under GAAP to fairly represent the financial position and results
of operation of the Property during such calendar quarter, all in form that is reasonably satisfactory to Lender; (ii) a balance sheet for such calendar quarter; (iii) a comparison of the budgeted income and expenses and the actual income
and expenses for each quarter and year-to-date for the Property, together with a detailed explanation of any variances of ten percent (10%) or more between budgeted and actual amounts for such period and year-to-date; (iv) a statement of
the actual Capital Expenses made by Borrower during each calendar quarter as of the last day of such calendar quarter; (v) a statement that Borrower has not incurred any indebtedness other than indebtedness permitted hereunder; (vi) an
aged receivables report and (vii) rent rolls identifying the leased premises, names of all tenants, units leased, monthly rental and all other charges payable under each Lease, date to which paid, term of Lease, date of occupancy, date of
expiration, material special provisions, concessions or inducements granted to tenants, and a year-by-year schedule showing by percentage the rentable area of the Improvements and the total base rent attributable to Leases expiring each year) and a
delinquency report for the Property. Each such statement shall be accompanied by an Officer’s Certificate certifying to the best of their knowledge and belief (1) that such items are true, correct, accurate, and complete and fairly present
the financial condition and results of the operations of Borrower and the Property in accordance with GAAP (subject to normal year-end adjustments) and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the
period of time it has existed and the action then being taken to remedy it. 
 6.3.4 Other Reports. Borrower shall furnish to
Lender, within ten (10) Business Days after request, such further detailed information with respect to the operation of the Property and the financial affairs of Borrower, Sole Member or Manager as may be reasonably requested by Lender or any
applicable Rating Agency. 
  

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 6.3.5 Annual Budget. Borrower shall prepare and submit (or shall cause Manager to prepare
and submit) to Lender within thirty (30) days after commencement of a Cash Management Period and by November 30th of each year during the Term, for approval by Lender, which approval shall not be unreasonably withheld or delayed, a
proposed pro forma budget for the Property for the succeeding calendar year (the “Annual Budget”, and each Annual Budget approved by Lender is referred to herein as the “Approved Annual Budget”)), and, promptly
after preparation thereof, any revisions to such Annual Budget. The Annual Budget shall consist of (i) an operating expense budget showing, on a month-by-month basis, in reasonable detail, each line item of the Borrower’s anticipated
operating income and operating expenses (on a cash and accrual basis), including amounts required to establish, maintain and/or increase any monthly payments required hereunder (and once such Annual Budget has been approved by Lender, such operating
expense budget shall be referred to herein as the “Approved Operating Budget”), and (ii) a Capital Expense budget showing, on a month-by-month basis, in reasonable detail, each line item of anticipated Capital Expenses
(and once such Annual Budget has been approved by Lender, such Capital Expense budget shall be referred to herein as the “Approved Capital Budget”). Until such time that any Annual Budget has been approved by Lender, the
prior Approved Annual Budget shall apply for all purposes hereunder (with such adjustments as reasonably determined by Lender (including increases for any non-discretionary expenses)). 
 7. INSURANCE; CASUALTY; AND CONDEMNATION 
 7.1 Insurance. 
 7.1.1 Coverage. Borrower, at its sole cost, for the mutual benefit of Borrower and Lender, shall obtain and maintain during the Term the
following policies of insurance: 
 (a) Property insurance insuring against loss or damage customarily included under so called “all
risk” or “special form” policies including fire, lightning, vandalism, and malicious mischief, boiler and machinery and, if required by Lender, flood and/or earthquake coverage and subject to subsection (j) below, coverage for
damage or destruction caused by the acts of “Terrorists” (or such policies shall have no exclusion from coverage with respect thereto) and such other insurable hazards as, under good insurance practices, from time to time are insured
against for other property and buildings similar to the premises in nature, use, location, height, and type of construction. Such insurance policy shall also insure for ordinance of law coverage, costs of demolition and increased cost of
construction in amounts satisfactory to Lender. Each such insurance policy shall (i) be in an amount equal to 100% of the then replacement cost of the Improvements without deduction for physical depreciation, (ii) have deductibles no
greater than $10,000 per occurrence, (iii) be paid annually in advance and (iv) be on a replacement cost basis and contain either no coinsurance or, if coinsurance, an agreed amount endorsement, and shall cover, without limitation, all
tenant improvements and betterments that Borrower is required to insure on a replacement cost basis. Lender shall be named Mortgagee and Loss Payee on a Standard Mortgagee Endorsement. 
 (b) Flood insurance if following the date hereof any part of the Property is located in an area now or hereafter designated by the Federal Emergency
Management Agency as a Zone “A” & “V” Special Hazard Area, or such other similar Special 

  

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Hazard Area. Such policy shall (i) be in an amount equal to (A) 100% of the full replacement cost of the Improvements on the Property (without any
deduction for depreciation) or (B) such other amount as agreed to by Lender and (ii) have a maximum permissible deductible of $3,000. Without limiting Lender’s rights to require flood insurance in the future if any part of the
Property is located in any such designated area, Lender hereby acknowledges that as of the date hereof such flood insurance is not required. 
 (c) Public liability insurance, including (i) ”Commercial General Liability Insurance”, (ii) ”Owned”, “Hired” and “Non Owned Auto Liability”; and (iii) umbrella liability coverage for
personal injury, bodily injury, death, accident and property damage, such insurance providing in combination no less than containing minimum limits per occurrence of $2,000,000 and $4,000,000 in the aggregate for any policy year with no deductible
or self insured retention; together with at least $25,000,000 excess and/or umbrella liability insurance for any and all claims. The policies described in this subsection shall also include coverage for elevators, escalators, independent
contractors, “Contractual Liability” (covering, to the maximum extent permitted by law, Borrower’s obligation to indemnify Lender as required under this Agreement and the other Loan Documents), “Products” and “Completed
Operations Liability” coverage. 
 (d) Rental loss and/or business interruption insurance (i) with Lender being named as
“Lender Loss Payee”, (ii) in an amount equal to 100% of the projected Rents from the Property during the period of restoration; and (iii) containing an extended period of indemnity endorsement which provides that after the
physical loss to the Property has been repaired, the continued loss of income will be insured until such income either returns to the same level it was at prior to the loss, or the expiration of twelve (12) months from the date that the
Property is repaired or replaced and operations are resumed, whichever first occurs, and notwithstanding that the policy may expire prior to the end of such period. The amount of such insurance shall be increased from time to time during the Term as
and when the estimated or actual Rents increase. 
 (e) Comprehensive boiler and machinery insurance covering all mechanical and electrical
equipment against physical damage, rent loss and improvements loss and covering, without limitation, all tenant improvements and betterments that Borrower is required to insure pursuant to the lease on a replacement cost basis and in an amount equal
to the lesser of (i) $2,000,000 and (ii) 100% of the full replacement cost of the Improvements on such Property (without any deduction for depreciation). 
 (f) Worker’s compensation and disability insurance with respect to any employees of Borrower, as required by any Legal Requirement. 
 (g) During any period of repair or restoration, builder’s “all-risk” insurance on the so called completed value basis in an amount equal to not less than the full insurable value of the Property,
against such risks (including fire and extended coverage and collapse of the Improvements to agreed limits) as Lender may request, in form and substance acceptable to Lender. 
  

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 (h) Coverage to compensate for ordinance of law, the cost of demolition and the increased cost of
construction in an amount satisfactory to Lender. 
 (i) Such other insurance (including environmental liability insurance, earthquake
insurance, mine subsidence insurance and windstorm insurance) as may from time to time be reasonably required by Lender in order to protect its interests. Without limiting Lender’s rights to require earthquake insurance in the future Lender
hereby acknowledges that as of the date hereof such earthquake insurance is not required. 
 (j) Notwithstanding anything in subsection
(a) above to the contrary, Borrower shall be required to obtain and maintain coverage in its property insurance Policy (or by a separate Policy) against loss or damage by terrorist acts in an amount equal to 100% of the “Full Replacement
Cost” of the Property; provided that such coverage is available. In the event that such coverage with respect to terrorist acts is not included as part of the “all risk” property policy required by subsection (a) above, Borrower
shall, nevertheless be required to obtain coverage for terrorism (as stand alone coverage) (expressly excluding any loss due to flood caused by terrorist acts) in an amount equal to 100% of the “Full Replacement Cost” of the Property;
provided that such coverage is available. Borrower shall obtain the coverage required under this subsection (j) from a carrier which otherwise satisfies the rating criteria specified in Section 7.1.2 below (a “Qualified
Carrier”) or in the event that such coverage is not available from a Qualified Carrier, Borrower shall obtain such coverage from the highest rated insurance company providing such coverage. 
 7.1.2 Policies. All policies of insurance (the “Policies”) required pursuant to Section 7.1.1 above
shall (i) be issued by companies approved by Lender and licensed to do business in the State, with a claims paying ability rating of “A” or better by S&P (and the equivalent by any other Rating Agency) (provided, however for
multi-layered policies, (A) if four (4) or less insurance companies issue the Policies, then at least 75% of the insurance coverage represented by the Policies must be provided by insurance companies with a claims paying ability rating of
“A” or better by S&P (and the equivalent by any other Rating Agency), with no carrier below “BBB” (and the equivalent by any other Rating Agency) or (B) if five (5) or more insurance companies issue the Policies,
then at least sixty percent (60%) of the insurance coverage represented by the Policies must be provided by insurance companies with a claims paying ability rating of “A” or better by S&P (and the equivalent by any other Rating
Agency), with no carrier below “BBB” (and the equivalent by any other Rating Agency), or a rating of A:XV or better in the current Best’s Insurance Reports; (ii) name Lender and its successors and/or assigns as their interest may
appear as the mortgagee (in the case of property insurance), loss payee (in the case of business interruption/loss of rents coverage) and an additional insured (in the case of liability insurance); (iii) contain (in the case of property
insurance) a Non-Contributory Standard Mortgagee Clause and a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to which all payments made by such insurance company shall be paid; (iv) contain a waiver of
subrogation against Lender; (v) be assigned and the originals thereof delivered to Lender; (vi) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest, including (A) endorsements providing
that neither Borrower, Lender nor any other party shall be a co-insurer under the Policies, (B) that Lender shall receive at least thirty (30) days’ prior written notice of any modification, reduction or cancellation of any of the
Policies, (C) an agreement whereby the insurer waives 

  

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any right to claim any premiums and commissions against Lender, provided that the policy need not waive the requirement that the premium be paid in order for
a claim to be paid to the insured and (D) providing that Lender is permitted to make payments to effect the continuation of such policy upon notice of cancellation due to non-payment of premiums; (vii) in the event any insurance policy
(except for general public and other liability and workers compensation insurance) shall contain breach of warranty provisions, such policy shall provide that with respect to the interest of Lender, such insurance policy shall not be invalidated by
and shall insure Lender regardless of (A) any act, failure to act or negligence of or violation of warranties, declarations or conditions contained in such policy by any named insured, (B) the occupancy or use of the premises for purposes
more hazardous than permitted by the terms thereof, or (C) any foreclosure or other action or proceeding taken by Lender pursuant to any provision of the Loan Documents; and (viii) be satisfactory in form and substance to Lender and
approved by Lender as to amounts, form, risk coverage, deductibles, loss payees and insureds. Borrower shall pay the premiums for such Policies (the “Insurance Premiums”) as the same become due and payable and furnish to
Lender evidence of the renewal of each of the Policies together with (unless such Insurance Premiums have been paid by Lender pursuant to Section 3.3 hereof) receipts for or other evidence of the payment of the Insurance Premiums
reasonably satisfactory to Lender. If Borrower does not furnish such evidence and receipts at least thirty (30) days prior to the expiration of any expiring Policy, then Lender may, but shall not be obligated to, procure such insurance and pay
the Insurance Premiums therefor, and Borrower shall reimburse Lender for the cost of such Insurance Premiums promptly on demand, with interest accruing at the Default Rate. Borrower shall deliver to Lender a certified copy of each Policy within
thirty (30) days after its effective date. Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into
consideration changes in the value of money over time, changes in liability laws, changes in prudent customs and practices, and the like. 
 7.2 Casualty. 
 7.2.1 Notice; Restoration. If the Property is damaged or destroyed, in whole or in
part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly
proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction. 
 7.2.2 Settlement of Proceeds. If a Casualty covered by any of the Policies (an “Insured Casualty”) occurs where
the loss does not exceed $250,000, provided no Event of Default has occurred and is continuing, Borrower may settle and adjust any claim without the prior consent of Lender; provided such adjustment is carried out in a competent and timely manner,
and Borrower is hereby authorized to collect and receipt for the insurance proceeds (the “Proceeds”). In the event of an Insured Casualty where the loss equals or exceeds $250,000 (a “Significant
Casualty”), Lender may, in its sole discretion, settle and adjust any claim without the consent of Borrower and agree with the insurer(s) on the amount to be paid on the loss, and the Proceeds shall be due and payable solely to Lender
and held by Lender in the Casualty/Condemnation Subaccount and disbursed in accordance herewith. If Borrower or any party other than Lender is a payee on any check representing Proceeds with respect to a 

  

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Significant Casualty, Borrower shall immediately endorse, and cause all such third parties to endorse, such check payable to the order of Lender. Borrower
hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to endorse such check payable to the order of Lender. The expenses incurred by Lender in the settlement, adjustment and collection of the Proceeds shall become
part of the Debt and shall be reimbursed by Borrower to Lender upon demand. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier makes a payment under a property insurance Policy that
Borrower proposes be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier as to the purpose of such payment, as between Lender and Borrower, such payment shall
not be treated as business or rental interruption insurance proceeds unless Borrower has demonstrated to Lender’s satisfaction that the remaining net Proceeds that will be received from the property insurance carriers are sufficient to pay 100%
of the cost of fully restoring the Improvements or, if such net Proceeds are to be applied to repay the Debt in accordance with the terms hereof, that such remaining net Proceeds will be sufficient to pay the Debt in full. 
 7.3 Condemnation. 
 7.3.1
Notice; Restoration. Borrower shall promptly give Lender notice of the actual or threatened commencement of any condemnation or eminent domain proceeding affecting the Property (a “Condemnation”) and shall deliver
to Lender copies of any and all papers served in connection with such Condemnation. Following the occurrence of a Condemnation, Borrower, regardless of whether an Award is available, shall promptly proceed to restore, repair, replace or rebuild the
Property in accordance with Legal Requirements to the extent practicable to be of at least equal value and of substantially the same character (and to have the same utility) as prior to such Condemnation. 
 7.3.2 Collection of Award. With respect any award or payment in respect of a Condemnation (an “Award”) which is
equal to or less than $250,000, provided no Event of Default is continuing, Borrower shall have exclusive power to collect, receive and retain any such Award and to make any compromise, adjustment or settlement in connection with such Condemnation.
With respect any Award which is greater that $250,000, provided no Event of Default is continuing, Borrower shall have exclusive power to collect, receive and retain any such Award and to make any compromise, adjustment or settlement in connection
with such Condemnation, subject to Lender’s approval which shall not be unreasonably withheld, delayed or conditioned. At any time that an Event of Default is continuing, Lender is hereby irrevocably appointed as Borrower’s
attorney-in-fact, coupled with an interest, with exclusive power to collect, receive and retain any such Award and to make any compromise, adjustment or settlement in connection with such Condemnation. Notwithstanding any Condemnation (or any
transfer made in lieu of or in anticipation of such Condemnation), Borrower shall continue to pay the Debt at the time and in the manner provided for in the Loan Documents, and the Debt shall not be reduced unless and until any Award shall have been
actually received and applied by Lender to expenses of collecting the Award and to discharge of the Debt. Lender shall not be limited to the interest paid on the Award by the condemning authority but shall be entitled to receive out of the Award
interest at the rate or rates provided in the Note. If the Property is sold, through foreclosure or otherwise, prior to the receipt by Lender of such Award, Lender shall 

  

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have the right, whether or not a deficiency judgment on the Note shall be recoverable or shall have been sought, recovered or denied, to receive all or a
portion of the Award sufficient to pay the Debt. Borrower shall cause any Award that is payable to Borrower to be paid directly to Lender. Lender shall hold such Award in the Casualty/Condemnation Subaccount and disburse such Award in accordance
with the terms hereof. 
 7.4 Application of Proceeds or Award. 
 7.4.1 Application to Restoration. If an Insured Casualty or Condemnation occurs where (i) the loss is in an aggregate amount less than
the fifteen percent (15%) of the unpaid Principal; (ii) in the reasonable judgment of Lender, the Property can be restored within six (6) months, and prior to six (6) months before the Stated Maturity Date and prior to the
expiration of the rental or business interruption insurance with respect thereto, to the Property’s pre-existing condition and utility as existed immediately prior to such Insured Casualty or Condemnation and to an economic unit not less
valuable and not less useful than the same was immediately prior to the Insured Casualty or Condemnation, and after such restoration will adequately secure the Debt; (iii) less than (x) thirty percent (30%), in the case of an Insured
Casualty or (y) fifteen percent (15%), in the case of a Condemnation, of the rentable area of the Improvements has been damaged, destroyed or rendered unusable as a result of such Insured Casualty or Condemnation; (iv) Leases demising in
the aggregate at least sixty-five percent (65%) of the total rentable space in the Property and in effect as of the date of the occurrence of such Insured Casualty or Condemnation remain in full force and effect during and after the completion
of the Restoration (hereinafter defined); and (v) no Event of Default shall have occurred and be then continuing, then the Proceeds or the Award, as the case may be (after reimbursement of any expenses incurred by Lender), shall be applied to
reimburse Borrower for the cost of restoring, repairing, replacing or rebuilding the Property (the “Restoration”), in the manner set forth herein. Borrower shall commence and diligently prosecute such Restoration.
Notwithstanding the foregoing, in no event shall Lender be obligated to apply the Proceeds or Award to reimburse Borrower for the cost of Restoration unless, in addition to satisfaction of the foregoing conditions, both (x) Borrower shall pay
(and if required by Lender, Borrower shall deposit with Lender in advance) all costs of such Restoration in excess of the net amount of the Proceeds or the Award made available pursuant to the terms hereof; and (y) Lender shall have received
evidence reasonably satisfactory to it that during the period of the Restoration, the Rents will be at least equal to the sum of the operating expenses and Debt Service and other reserve payments required hereunder, as reasonably determined by
Lender. 
 7.4.2 Application to Debt. Except as provided in Section 7.4.1 above, any Proceeds and/or Award may, at
the option of Lender in its discretion, be applied to the payment of (i) accrued but unpaid interest on the Note, (ii) the unpaid Principal and (iii) other charges due under the Note and/or any of the other Loan Documents, or applied
to reimburse Borrower for the cost of any Restoration, in the manner set forth in Section 7.4.3 below. Any such prepayment of the Loan shall be without any Yield Maintenance Premium. 
 7.4.3 Procedure for Application to Restoration. If Borrower is entitled to reimbursement out of the Proceeds or an Award held by Lender,
such Proceeds or Award shall be disbursed from time to time from the Casualty/Condemnation Subaccount upon Lender being furnished with (i) evidence satisfactory to Lender of the estimated cost of completion of the Restoration, (ii) a fixed
price or guaranteed maximum cost construction contract for Restoration 

  

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satisfactory to Lender, (iii) prior to the commencement of Restoration, all immediately available funds in addition to the Proceeds or Award that in
Lender’s judgment are required to complete the proposed Restoration, (iv) such architect’s certificates, waivers of lien, contractor’s sworn statements, title insurance endorsements, bonds, plats of survey, permits, approvals,
licenses and such other documents and items as Lender may reasonably require and approve in Lender’s discretion, and (iv) all plans and specifications for such Restoration, such plans and specifications to be approved by Lender prior to
commencement of any work. Lender may, at Borrower’s expense, retain a consultant to review and approve all requests for disbursements, which approval shall also be a condition precedent to any disbursement. No payment made prior to the final
completion of the Restoration shall exceed ninety percent (90%) of the value of the work performed from time to time; funds other than the Proceeds or Award shall be disbursed prior to disbursement of such Proceeds or Award; and at all times,
the undisbursed balance of such Proceeds or Award remaining in the hands of Lender, together with funds deposited for that purpose or irrevocably committed to the satisfaction of Lender by or on behalf of Borrower for that purpose, shall be at least
sufficient in the reasonable judgment of Lender to pay for the cost of completion of the Restoration, free and clear of all Liens or claims for Lien. Provided no Default or Event of Default then exists, any surplus that remains out of the Proceeds
held by Lender after payment of such costs of Restoration shall be paid to Borrower. Any surplus that remains out of the Award received by Lender after payment of such costs of Restoration shall, in the discretion of Lender, be retained by Lender
and applied to payment of the Debt or returned to Borrower. 
 8. DEFAULTS 
 8.1 Events of Default. An “Event of Default” shall exist with respect to the Loan if any of the following shall occur: 

(a) any Monthly Debt Service Payment Amount is not paid when due or any portion of the Debt is otherwise not paid within ten (10) days of the due
date (other than amounts due on the Maturity Date and except to the extent a shorter grace period is expressly provided for in the Loan Documents with respect to the applicable payment) or any other amount under Section 3.11(a)(ii)
through (vii), (ix) and (x) hereof is not paid in full on each Payment Date (provided, however, if adequate funds are available in the Deposit Account for such payments, the failure by the Deposit Bank to allocate such funds
into the appropriate Subaccounts shall not constitute an Event of Default); 
 (b) any of the Taxes are not paid when due, subject to
Borrower’s right to contest Taxes in accordance with Section 5.2 hereof except to the extent sums sufficiently to pay such Taxes have been deposited with Lender in accordance with this Agreement; 
 (c) the Policies are not kept in full force and effect, or are not delivered to Lender upon request; 
 (d) a Transfer other than a Permitted Transfer occurs; 
 (e) any material representation or warranty made by Borrower or in any Loan Document, or in any report, certificate, financial statement or other instrument, 

  

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agreement or document furnished by Borrower in connection with any Loan Document, shall be false or misleading in any material respect as of the date the
representation or warranty was made; provided, however, as to any such false or misleading representation or warranty or statement which can be true and correct by reasonable action of Borrower and which false or misleading representation or
warranty was made unintentionally, Borrower shall have a period of thirty (30) days following written notice to Borrower to undertake and complete all action necessary to make such representation, warranty or statement true and correct in all
material respects (except that Borrower shall not have the benefit of this grace period if such false or misleading representation or warranty has already caused a Material Adverse Effect). 
 (f) Borrower or Sole Member shall make an assignment for the benefit of creditors, or shall generally not be paying its debts as they become due;

 (g) a receiver, liquidator or trustee shall be appointed for Borrower or Sole Member; or Borrower or Sole Member shall be adjudicated a
bankrupt or insolvent; or any petition for bankruptcy, reorganization or arrangement pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by or against, consented to, or acquiesced in by, Borrower or Sole Member,
as the case may be; or any proceeding for the dissolution or liquidation of Borrower or Sole Member shall be instituted; provided, however, if such appointment, adjudication, petition or proceeding was involuntary and not consented to by Borrower or
Sole Member, as the case may be, only upon the same not being discharged, stayed or dismissed within ninety (90) days; 
 (h) Borrower
breaches any covenant contained in Sections 5.12.1 (a) - (f), 5.13 (to the extent any breach under Section 5.13 could cause Borrower to be consolidated with any other Person in a bankruptcy or similar proceeding), 5.15, 5.22, 5.25 or
5.28 hereof; 
 (i) except as expressly permitted hereunder, the actual or threatened alteration, improvement, demolition or removal of all
or any portion of the Improvements without the prior written consent of Lender; 
 (j) an Event of Default as defined or described elsewhere
in this Agreement or in any other Loan Document occurs; or any other event shall occur or condition shall exist, if the effect of such event or condition is to accelerate or to permit Lender to accelerate the maturity of any portion of the Debt
subject to any applicable notice and cure periods expressly provided therein; 
 (k) a default occurs under any term, covenant or provision
set forth herein or in any other Loan Document which specifically contains a notice requirement or grace period and such notice has been given and such grace period has expired; 
 (l) any of the assumptions contained in any substantive non-consolidation opinion, delivered to Lender by Borrower’s counsel in connection with the
Loan or otherwise hereunder, were not true and correct as of the date of such opinion or thereafter became untrue or incorrect; 
  

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 (m) a default shall be continuing under any of the other terms, covenants or conditions of this
Agreement or any other Loan Document not otherwise specified in this Section 8.1, for ten (10) business days after notice to Borrower from Lender, in the case of any default which can be cured by the payment of a sum of money, or
for thirty (30) days after notice from Lender in the case of any other default; provided, however, that if such non-monetary default is susceptible of cure but cannot reasonably be cured within such thirty (30)-day period, and Borrower shall
have commenced to cure such default within such thirty (30)-day period and thereafter diligently and expeditiously proceeds to cure the same, such thirty (30)-day period shall be extended for an additional period of time as is reasonably necessary
for Borrower in the exercise of due diligence to cure such default, such additional period not to exceed ninety (90) days. 
 8.2
Remedies. 
 8.2.1 Acceleration. Upon the occurrence of an Event of Default (other than an Event of Default described in
paragraph (f) or (g) of Section 8.1 above) and at any time and from time to time thereafter, in addition to any other rights or remedies available to it pursuant to the Loan Documents or at law or in equity, Lender may take
such action, without notice or demand, that Lender deems advisable to protect and enforce its rights against Borrower and in and to the Property; including declaring the Debt to be immediately due and payable (including unpaid interest), Default
Rate interest, Late Payment Charges, Yield Maintenance Premium and any other amounts owing by Borrower), without notice or demand; and upon any Event of Default described in paragraph (f) or (g) of Section 8.1 above, the Debt
(including unpaid interest, Default Rate interest, Late Payment Charges, Yield Maintenance Premium and any other amounts owing by Borrower) shall immediately and automatically become due and payable, without notice or demand, and Borrower hereby
expressly waives any such notice or demand, anything contained in any Loan Document to the contrary notwithstanding. 
 8.2.2 Remedies
Cumulative. Upon the occurrence of an Event of Default, all or any one or more of the rights, powers, privileges and other remedies available to Lender against Borrower under the Loan Documents or at law or in equity may be exercised by
Lender at any time and from time to time, whether or not all or any of the Debt shall be declared, or be automatically, due and payable, and whether or not Lender shall have commenced any foreclosure proceeding or other action for the enforcement of
its rights and remedies under any of the Loan Documents. Any such actions taken by Lender shall be cumulative and concurrent and may be pursued independently, singly, successively, together or otherwise, at such time and in such order as Lender may
determine in its discretion, to the fullest extent permitted by law, without impairing or otherwise affecting the other rights and remedies of Lender permitted by law, equity or contract or as set forth in the Loan Documents. Without limiting the
generality of the foregoing, Borrower agrees that if an Event of Default is continuing, (i) to the extent permitted by applicable law, Lender is not subject to any “one action” or “election of remedies” law or rule, and
(ii) all Liens and other rights, remedies or privileges provided to Lender shall remain in full force and effect until Lender has exhausted all of its remedies against the Property, the Mortgage has been foreclosed, the Property has been sold
and/or otherwise realized upon in satisfaction of the Debt or the Debt has been paid in full. To the extent permitted by applicable law, nothing contained in any Loan Document shall be construed as requiring Lender to resort to any portion of the
Property for the satisfaction of any of the Debt in preference or priority to any other portion, and Lender may seek satisfaction out of the entire Property or any part thereof, in its discretion. 
  

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 8.2.3 [Intentionally Omitted] 
 8.2.4 Delay. No delay or omission to exercise any remedy, right or power accruing upon an Event of Default, or the granting of any
indulgence or compromise by Lender shall impair any such remedy, right or power hereunder or be construed as a waiver thereof, but any such remedy, right or power may be exercised from time to time and as often as may be deemed expedient. A waiver
of one Default or Event of Default shall not be construed to be a waiver of any subsequent Default or Event of Default or to impair any remedy, right or power consequent thereon. Notwithstanding any other provision of this Agreement, Lender reserves
the right to seek a deficiency judgment or preserve a deficiency claim in connection with the foreclosure of the Mortgage to the extent necessary to foreclose on all or any portion of the Property, the Rents, the Cash Management Accounts or any
other collateral. 
 8.2.5 Lender’s Right to Perform. If Borrower fails to perform any covenant or obligation contained
herein and such failure shall continue for a period of five (5) Business Days after Borrower’s receipt of written notice thereof from Lender, without in any way limiting Lender’s right to exercise any of its rights, powers or remedies
as provided hereunder, or under any of the other Loan Documents, Lender may, but shall have no obligation to, perform, or cause performance of, such covenant or obligation, and all costs, expenses, liabilities, penalties and fines of Lender incurred
or paid in connection therewith shall be payable by Borrower to Lender upon demand and if not paid shall be added to the Debt ( and to the extent permitted under applicable laws, secured by the Mortgage and other Loan Documents) and shall bear
interest thereafter at the Default Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to Borrower of any such failure. 
 9. SPECIAL PROVISIONS 
 9.1 Sale of Note and Secondary Market Transaction. 
 9.1.1 General; Borrower Cooperation. Lender shall have the right at any time and from time to time (i) to sell or otherwise transfer
the Loan or any portion thereof or the Loan Documents or any interest therein to one or more investors, (ii) to sell participation interests in the Loan to one or more investors (iii) to cause the Loan to be split into two or more separate
loans or (iv) to securitize the Loan or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities (the “Securities”) secured by or evidencing ownership
interests in the Note and the Mortgage (each such sale, assignment, participation and/or securitization is referred to herein as a “Secondary Market Transaction”). In connection with any Secondary Market Transaction, Borrower
shall use all reasonable efforts and cooperate fully and in good faith with Lender and otherwise assist Lender in satisfying the market standards to which Lender customarily adheres or which may be reasonably required in the marketplace or by the
Rating Agencies in connection with any such Secondary Market Transactions, including: (a) to (i) to provide such financial and other information with respect to the Property, Borrower and its Affiliates, Manager and any tenants of the
Property, (ii) provide business plans and budgets relating to the Property and (iii) subject to the rights of tenants at the 

  

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Property, perform or permit or cause to be performed or permitted such site inspection, appraisals, surveys, market studies, environmental reviews and
reports, engineering reports and other due diligence investigations of the Property, as may be reasonably requested from time to time by Lender or the Rating Agencies or as may be necessary or appropriate in connection with a Secondary Market
Transaction or Exchange Act requirements (the items provided to Lender pursuant to this paragraph (a) being called the “Provided Information”), together, if customary, with appropriate verification of and/or consents to
the Provided Information through letters of auditors or opinions of counsel of independent attorneys acceptable to Lender and the Rating Agencies; (b) cause counsel to render opinions as to non-consolidation and any other opinion customary in
securitization transactions with respect to the Property, Borrower and its Affiliates, which counsel and opinions shall be reasonably satisfactory to Lender and the Rating Agencies; (c) make such representations and warranties as of the closing
date of any Secondary Market Transaction with respect to the Property, Borrower and the Loan Documents as are customarily provided in such transactions and as may be reasonably requested by Lender or the Rating Agencies and consistent with the facts
covered by such representations and warranties as they exist on the date thereof, including the representations and warranties made in the Loan Documents; (d) provide current certificates of good standing and qualification with respect to
Borrower and Sole Member from appropriate Governmental Authorities; and (e) execute such amendments to the Loan Documents and Borrower’s organizational documents, as may be requested by Lender or the Rating Agencies or otherwise to effect
a Secondary Market Transaction, provided that nothing contained in this subsection (e) shall result in a material economic change in the transaction; provided that notwithstanding anything to the contrary in this Section 9.1.1
Borrower shall not be required to (A) incur any out-of-pocket expense in connection with the Secondary Market Transaction unless Lender agrees to pay for such out of pocket expenses as they are incurred by Borrower (including, without
limitation, a change in the interest rate or the stated maturity of the Loan), (B) agree to a modification of any Loan Document that would have a material impact upon the rights, liabilities, or responsibilities of Borrower, or (C) take
any actions that would impose a significant burden on Borrower. Borrower’s cooperation obligations set forth herein shall continue until the Loan has been paid in full. 
 9.1.2 Use of Information. Borrower understands that all or any portion of the Provided Information and the Required Records may be included
in disclosure documents in connection with a Secondary Market Transaction, including a prospectus or private placement memorandum (each, a “Disclosure Document”) and may also be included in filings with the Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or provided or made available
to investors or prospective investors in the Securities, the Rating Agencies, and service providers or other parties relating to the Secondary Market Transaction. If the Disclosure Document is required to be revised, Borrower shall cooperate with
Lender in updating the Provided Information or Required Records for inclusion or summary in the Disclosure Document or for other use reasonably required in connection with a Secondary Market Transaction by providing all current information
pertaining to Borrower, Manager and the Property necessary to keep the Disclosure Document accurate and complete in all material respects with respect to such matters. 
  

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 9.1.3 Borrower Obligations Regarding Disclosure Documents. In connection with a Disclosure
Document, Borrower shall: (a) if requested by Lender, certify in writing that Borrower has carefully examined those portions of such Disclosure Document, pertaining to Borrower, the Property, Manager and the Loan, and that such portions do not
contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; and (b) indemnify (in a separate
instrument of indemnity, if so requested by Lender) (i) any underwriter, syndicate member or placement agent (collectively, the “Underwriters”) retained by Lender or its issuing company affiliate (the
“Issuer”) in connection with a Secondary Market Transaction, (ii) Lender and (iii) the Issuer that is named in the Disclosure Document or registration statement relating to a Secondary Market Transaction (the
“Registration Statement”), and each of the Issuer’s directors, each of its officers who have signed the Registration Statement and each person or entity who controls the Issuer or the Lender within the meaning of
Section 15 of the Securities Act or Section 30 of the Exchange Act (collectively within (iii), the “GCM Group”), and each of its directors and each person who controls each of the Underwriters, within the meaning of
Section 15 of the Securities Act and Section 20 of the Exchange Act (collectively, the “Underwriter Group”) for any losses, claims, damages or liabilities (the “Liabilities”) to which Lender,
the GCM Group or the Underwriter Group may become subject (including reimbursing all of them for any legal or other expenses actually incurred in connection with investigating or defending the Liabilities) insofar as the Liabilities arise out of or
are based upon any untrue statement or alleged untrue statement of any material fact contained in any of the Provided Information or in any of the applicable portions of such sections of the Disclosure Document applicable to Borrower, Manager, the
Property or the Loan, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated in the applicable portions of such sections or necessary in order to make the statements in the
applicable portions of such sections in light of the circumstances under which they were made, not misleading; provided, however, that Borrower shall not be required to indemnify Lender for any Liabilities relating to untrue statements or omissions
which Borrower identified to Lender in writing at the time of Borrower’s examination of such Disclosure Document. 
 9.1.4
Borrower Indemnity Regarding Filings. In connection with filings under the Exchange Act, Borrower shall (i) indemnify Lender, the GCM Group and the Underwriter Group for any Liabilities to which Lender, the GCM Group or the
Underwriter Group may become subject insofar as the Liabilities arise out of or are based upon the omission or alleged omission to state in the Provided Information a material fact required to be stated in the Provided Information in order to make
the statements in the Provided Information, in light of the circumstances under which they were made not misleading and (ii) reimburse Lender, the GCM Group or the Underwriter Group for any legal or other expenses actually incurred by Lender,
GCM Group or the Underwriter Group in connection with defending or investigating the Liabilities. 
 9.1.5 Indemnification
Procedure. Promptly after receipt by an indemnified party under Section 9.1.3 above or Section 9.1.4 above of notice of the commencement of any action for which a claim for indemnification is to be made against
Borrower, such indemnified party shall notify Borrower in writing of such commencement, but the omission to so notify 

  

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Borrower will not relieve Borrower from any liability that it may have to any indemnified party hereunder except to the extent that failure to notify causes
prejudice to Borrower. If any action is brought against any indemnified party, and it notifies Borrower of the commencement thereof, Borrower will be entitled, jointly with any other indemnifying party, to participate therein and, to the extent that
it (or they) may elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice of commencement, to assume the defense thereof with counsel satisfactory to such indemnified party in its discretion. After
notice from Borrower to such indemnified party under this Section 9.1.5, Borrower shall not be responsible for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than
reasonable costs of investigation; provided, however, if the defendants in any such action include both Borrower and an indemnified party, and any indemnified party shall have reasonably concluded that there are any legal defenses available to it
and/or other indemnified parties that are different from or additional to those available to Borrower, then the indemnified party or parties shall have the right to select separate counsel to assert such legal defenses and to otherwise participate
in the defense of such action on behalf of such indemnified party or parties. Borrower shall not be liable for the expenses of more than one separate counsel unless there are legal defenses available to it that are different from or additional to
those available to another indemnified party. 
 9.1.6 Contribution. In order to provide for just and equitable contribution
in circumstances in which the indemnity agreement provided for in Section 9.1.3 above or Section 9.1.4 above is for any reason held to be unenforceable by an indemnified party in respect of any Liabilities (or action in
respect thereof) referred to therein which would otherwise be indemnifiable under Section 9.1.3 above or Section 9.1.4 above, Borrower shall contribute to the amount paid or payable by the indemnified party as a result of
such Liabilities (or action in respect thereof); provided, however, that no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person not guilty
of such fraudulent misrepresentation. In determining the amount of contribution to which the respective parties are entitled, the following factors shall be considered: (i) the GCM Group’s and Borrower’s relative knowledge and access
to information concerning the matter with respect to which the claim was asserted; (ii) the opportunity to correct and prevent any statement or omission; and (iii) any other equitable considerations appropriate in the circumstances. Lender
and Borrower hereby agree that it may not be equitable if the amount of such contribution were determined by pro rata or per capita allocation. 
 9.1.7 [Intentionally Omitted] 
 9.1.8 Severance of Loan. Lender shall have the right, at any time
(whether prior to, in connection with, or after any Secondary Market Transaction or for the purpose of enforcing Lender’s rights and remedies under the Loan Documents), with respect to all or any portion of the Loan, to modify, split and/or
sever all or any portion of the Loan as hereinafter provided. Without limiting the foregoing, Lender may (i) cause the Note and the Mortgage to be split into a first and second mortgage loan, (ii) create one more senior and subordinate
notes (i.e., an A/B or A/B/C structure), (iii) create multiple components of the Note or Notes (and allocate or reallocate the principal balance of the Loan among such components) or (iv) otherwise sever the Loan into two (2) or more
loans secured by mortgages and by a pledge of partnership or membership interests (directly or indirectly) in Borrower (i.e., a senior loan/mezzanine loan 

  

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structure), in each such case, in whatever proportion and whatever priority Lender determines; provided, however, in each such instance the outstanding
principal balance of all the Notes evidencing the Loan (or components of such Notes) immediately after the effective date of such modification equals the outstanding principal balance of the Loan immediately prior to such modification and the
weighted average of the interest rates for all such Notes (or components of such Notes) immediately after the effective date of such modification equals the interest rate of the original Note immediately prior to such modification. If requested by
Lender, Borrower (and Borrower’s constituent members, if applicable) shall execute within two (2) Business Days after such request, such documentation as Lender may reasonably request to evidence and/or effectuate any such modification or
severance. Borrower shall not be required to (A) incur any out-of-pocket expense in connection with any action taken pursuant to this Section 9.1.8 unless Lender agrees to pay for such out of pocket expenses as they are incurred by
Borrower (including, without limitation, a change in the interest rate or the stated maturity of the Loan), (B) agree to a modification of any Loan Document that would have a material impact upon the rights, liabilities, or responsibilities of
Borrower, or (C) take any actions that would impose a significant burden on Borrower. 
 10. MISCELLANEOUS 
 10.1 Exculpation. Subject to the qualifications below, Lender shall not enforce the liability and obligation of Borrower to perform and
observe the obligations contained in the Loan Documents by any action or proceeding wherein a money judgment shall be sought against Borrower, except that Lender may bring a foreclosure action, an action for specific performance or any other
appropriate action or proceeding to enable Lender to enforce and realize upon its interest and rights under the Loan Documents, or in the Property, the Rents or any other collateral given to Lender pursuant to the Loan Documents; provided, however,
that, except as specifically provided herein, any judgment in any such action or proceeding shall be enforceable against Borrower only to the extent of Borrower’s interest in the Property, in the Rents and in any other collateral given to
Lender, and Lender shall not sue for, seek or demand any deficiency judgment against Borrower in any such action or proceeding under or by reason of or under or in connection with any Loan Document. The provisions of this Section 10.1
shall not, however, (i) constitute a waiver, release or impairment of any obligation evidenced or secured by any Loan Document; (ii) impair the right of Lender to name Borrower as a party defendant in any action or suit for foreclosure and
sale under the Mortgage; (iii) affect the validity or enforceability of any of the Loan Documents or any guaranty made in connection with the Loan or any of the rights and remedies of Lender thereunder; (iv) impair the right of Lender to
obtain the appointment of a receiver; (v) impair the enforcement of the Assignment of Leases; (vi) constitute a prohibition against Lender to commence any other appropriate action or proceeding in order for Lender to fully realize the
security granted by the Mortgage or to exercise its remedies against the Property; or (vii) constitute a waiver of the right of Lender to enforce the liability and obligation of Borrower (but not any of Borrower’s constituent members,
partners, officers, directors or shareholders), by money judgment or otherwise, to the extent of any loss, damage, cost, expense, liability, claim or other obligation incurred by Lender (including attorneys’ fees and costs reasonably incurred)
arising out of or in connection with the following (all such liability and obligation of Borrower for any or all of the following being referred to herein as “Borrower’s Recourse Liabilities”): 
  

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 (a) fraud or intentional misrepresentation by Borrower or Sole Member in connection with obtaining the
Loan; 
 (b) intentional waste of the Property or any portion thereof, or after an Event of Default the removal or disposal of any portion
of the Property; 
 (c) any Proceeds paid by reason of any Insured Casualty or any Award received in connection with a Condemnation or other
sums or payments attributable to the Property to the extent not applied in accordance with the provisions of the Loan Documents (except to the extent that Borrower did not have the legal right, because of a bankruptcy, receivership or similar
judicial proceeding, to direct disbursement of such sums or payments); 
 (d) all Rents of the Property received or collected by or on
behalf of the Borrower after an Event of Default and not applied to payment of Principal and interest due under the Note, and to the payment of actual and reasonable operating expenses of the Property, as they become due or payable (except to the
extent that such application of such funds is prevented by bankruptcy, receivership, or similar judicial proceeding in which Borrower is legally prevented from directing the disbursement of such sums); 
 (e) misappropriation (including failure to turn over to Lender on demand following an Event of Default) of tenant security deposits and rents collected
in advance; 
 (f) the failure to pay Taxes or Insurance Premiums, provided Borrower shall not be liable to the extent funds to pay such
amounts are available in the Tax and Insurance Subaccount and Lender failed to pay same; 
 (g) the failure to pay transfer fees and charges
due Lender under the Loan Documents in connection with any subordinate financing or any transfer of all or any part of the Property, or any interest therein, from Borrower to Borrower’s transferee, or transfer of beneficial interest in
Borrower; or 
 (h) the breach of any representation, warranty, covenant or indemnification in any Loan Document concerning Environmental
Laws or Hazardous Substances, including Section 4.21 hereof and Section 5.8 hereof, and clauses (viii) through (xi) of Section 5.30 hereof. 
 Notwithstanding anything to the contrary in this Agreement or any of the Loan Documents, (A) Lender shall not be deemed to have waived any right which Lender may have under Section 506(a), 506(b), 1111(b) or
any other provisions of the U.S. Bankruptcy Code to file a claim for the full amount of the Debt or to require that all collateral shall continue to secure all of the Debt in accordance with the Loan Documents, and (B) Lender’s agreement
not to pursue personal liability of Borrower as set forth above SHALL BECOME NULL AND VOID and shall be of no further force and effect, and the Debt shall be fully recourse to Borrower (but not any of Borrower’s other constituent members,
partners, officers, directors or shareholders) in the event that one or more of the following occurs (each, a “Springing Recourse Event”): (i) an Event of Default described in Section 8.1(d) hereof shall have
occurred (solely as a result of a voluntary 

  

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Transfer) or (ii) a breach of the covenants set forth in Section 5.13 hereof, or (iii) Borrower’s voluntary commencement of
proceedings to be adjudicated bankrupt or insolvent; Borrower’s consent to the institution of bankruptcy or insolvency proceedings against it; Borrower’s filing of a petition seeking, or consent to, reorganization or relief under any
applicable federal or state law relating to bankruptcy or insolvency; Borrower’s consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of Borrower or a substantial part of
Borrower’s property; Borrower’s assignment for the benefit of creditors; or the filing of an involuntary petition in bankruptcy or insolvency proceedings against Borrower by any principal of or owner of any interest in Borrower or any
affiliate of or party related to Borrower (but excluding any owner or affiliate that indirectly owns or is affiliated with Borrower solely from its ownership of shares in the REIT). 
 10.2 Brokers and Financial Advisors. 
 Borrower shall indemnify and hold Lender harmless from and against any and all claims, liabilities, costs and expenses (including attorneys’ fees, whether incurred in connection with enforcing this indemnity or defending claims of
third parties) of any kind in any way relating to or arising from a claim by any Person that such Person acted on behalf of Borrower in connection with the transactions contemplated herein. Lender shall indemnify and hold Borrower harmless from and
against any and all claims, liabilities, costs and expenses (including attorneys’ fees, whether incurred in connection with enforcing this indemnity or defending claims of third parties) of any kind in any way relating to or arising from a
claim by any Person that such Person acted on behalf of Lender in connection with the transactions contemplated herein. The provisions of this Section 10.2 shall survive the expiration and termination of this Agreement and the repayment
of the Debt. 
 10.3 Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with
such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a Secondary Market Transaction, the Deposit
Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer (i) in connection with a release of the Property (or any portion thereof),
(ii) in connection with an assumption or modification of the Loan, (iii) in connection with the enforcement of the Loan Documents or (iv) in connection with any other action or approval taken by Servicer hereunder on behalf of Lender
(which shall not include ongoing regular servicing fees relating to the day-to-day servicing of the Loan, for which Borrower shall not be charged). 
 10.4 Survival. This Agreement and all covenants, agreements, representations and warranties made herein and in the certificates delivered pursuant hereto shall survive the making by Lender of the Loan and the execution and
delivery to Lender of the Note, and shall continue in full force and effect so long as any of the Debt is unpaid or such longer period if expressly set forth in this Agreement. All Borrower’s covenants and agreements in this Agreement shall
inure to the benefit of the respective legal representatives, successors and assigns of Lender. 
 10.5 Lender’s
Discretion. Whenever pursuant to this Agreement or any other Loan Document, Lender exercises any right given to it to approve or disapprove, or consent or 

  

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withhold consent, or any arrangement or term is to be satisfactory to Lender or is to be in Lender’s discretion, the decision of Lender to approve or
disapprove, to consent or withhold consent, or to decide whether arrangements or terms are satisfactory or not satisfactory, or acceptable or unacceptable or in Lender’s discretion shall (except as is otherwise specifically herein provided) be
in the reasonable discretion of Lender. 
 10.6 Governing Law. 
 THIS AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE
TO CONTRACTS MADE AND PERFORMED IN SUCH STATE AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA. TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER
JURISDICTION GOVERNS THIS AGREEMENT AND THE NOTE, AND THIS AGREEMENT AND THE NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 10.7 Modification, Waiver in Writing. No modification, amendment, extension, discharge, termination or waiver of any provision of this Agreement or of any other Loan Document, nor consent to any
departure by Borrower therefrom, shall in any event be effective unless the same shall be in a writing signed by the party against whom enforcement is sought, and then such waiver or consent shall be effective only in the specific instance, and for
the purpose, for which given. Except as otherwise expressly provided herein, no notice to or demand on Borrower shall entitle Borrower to any other or future notice or demand in the same, similar or other circumstances. Neither any failure nor any
delay on the part of Lender in insisting upon strict performance of any term, condition, covenant or agreement, or exercising any right, power, remedy or privilege hereunder, or under any other Loan Document, shall operate as or constitute a waiver
thereof, nor shall a single or partial exercise thereof preclude any other future exercise, or the exercise of any other right, power, remedy or privilege. In particular, and not by way of limitation, by accepting payment after the due date of any
amount payable under any Loan Document, Lender shall not be deemed to have waived any right either to require prompt payment when due of all other amounts due under the Loan Documents, or to declare an Event of Default for failure to effect prompt
payment of any such other amount. 
 10.8 Trial by Jury. BORROWER AND LENDER HEREBY AGREE NOT TO ELECT A TRIAL BY JURY OF ANY
ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH.
THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY BORROWER AND LENDER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. EITHER PARTY IS
HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY THE OTHER. 
  

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 10.9 Headings/Exhibits. The Section headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement for any other purpose. The Exhibits attached hereto, are hereby incorporated by reference as a part of the Agreement with the same force and effect as if set forth in
the body hereof. 
 10.10 Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 10.11 Preferences. Upon the
occurrence and continuance of an Event of Default, Lender shall have the continuing and exclusive right to apply or reverse and reapply any and all payments by Borrower to any portion of the Debt. To the extent Borrower makes a payment to Lender, or
Lender receives proceeds of any collateral, which is in whole or part subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state
or federal law, common law or equitable cause, then, to the extent of such payment or proceeds received, the Debt or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not
been received by Lender. This provision shall survive the expiration or termination of this Agreement and the repayment of the Debt. 
 10.12 Waiver of Notice. Borrower shall not be entitled to any notices of any nature whatsoever from Lender except with respect to matters for which this Agreement or any other Loan Document specifically and expressly requires
the giving of notice by Lender to Borrower and except with respect to matters for which Borrower is not, pursuant to applicable Legal Requirements, permitted to waive the giving of notice. Borrower hereby expressly waives the right to receive any
notice from Lender with respect to any matter for which no Loan Document specifically and expressly requires the giving of notice by Lender to Borrower. 
 10.13 Remedies of Borrower. If a claim or adjudication is made that Lender or any of its agents, including Servicer, has acted unreasonably or unreasonably delayed acting in any case where by law or
under any Loan Document, Lender or any such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, including Servicer, shall be liable for any monetary damages, and
Borrower’s sole remedy shall be to commence an action seeking injunctive relief or declaratory judgment. Any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.
Borrower specifically waives any claim against Lender and its agents, including Servicer, with respect to actions taken by Lender or its agents on Borrower’s behalf. 
 10.14 Prior Agreements. This Agreement and the other Loan Documents contain the entire agreement of the parties hereto and thereto in respect of the transactions contemplated hereby and thereby, and all
prior agreements, understandings and negotiations among or between such parties, whether oral or written, are superseded by the terms of this Agreement and the other Loan Documents. 
  

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 10.15 Offsets, Counterclaims and Defenses. Borrower hereby waives the right to assert a
counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under the Loan Documents. 
 10.16 Publicity. All news releases, publicity or advertising by Borrower or its Affiliates through any media intended to reach the general
public, which refers to the Loan Documents, the Loan, Lender or any member of the GCM Group, a Loan purchaser, the Servicer or the trustee in a Secondary Market Transaction, shall be subject to the prior written approval of Lender, which approval
shall not be unreasonably withheld. Lender shall have the right to issue any of the foregoing without Borrower’s approval. Notwithstanding anything stated to the contrary in this Section 10.16, nothing contained in this
Section 10.16 shall prohibit or impair Borrower’s right to disclose information relating to the Loan and/or the Loan Documents (a) to any due diligence representatives and/or consultants that are engaged by, work for or are
acting on behalf of, any securities dealers and/or broker dealers evaluating Borrower, (b) in connection with any filings (including any amendment or supplement to any S-11 filing) with governmental agencies (including the SEC) by the REIT, and
(c) to any broker/dealers in the REIT’s broker/dealer network and any of the REIT investors. 
 10.17 No Usury.
Borrower and Lender intend at all times to comply with applicable state law or applicable United States federal law (to the extent that it permits Lender to contract for, charge, take, reserve or receive a greater amount of interest than under state
law) and that this Section 10.17 shall control every other agreement in the Loan Documents. If the applicable law (state or federal) is ever judicially interpreted so as to render usurious any amount called for under the Note or any
other Loan Document, or contracted for, charged, taken, reserved or received with respect to the Debt, or if Lender’s exercise of the option to accelerate the maturity of the Loan or any prepayment by Borrower results in Borrower having paid
any interest in excess of that permitted by applicable law, then it is Borrower’s and Lender’s express intent that all excess amounts theretofore collected by Lender shall be credited against the unpaid Principal and all other Debt (or, if
the Debt has been or would thereby be paid in full, refunded to Borrower), and the provisions of the Loan Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of
any new document, so as to comply with applicable law, but so as to permit the recovery of the fullest amount otherwise called for thereunder. All sums paid or agreed to be paid to Lender for the use, forbearance or detention of the Loan shall, to
the extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full stated term of the Loan until payment in full so that the rate or amount of interest on account of the Debt does not exceed the maximum lawful
rate from time to time in effect and applicable to the Debt for so long as the Debt is outstanding. Notwithstanding anything to the contrary contained in any Loan Document, it is not the intention of Lender to accelerate the maturity of any interest
that has not accrued at the time of such acceleration or to collect unearned interest at the time of such acceleration. 
 10.18
Conflict; Construction of Documents. In the event of any conflict between the provisions of this Agreement and any of the other Loan Documents, the provisions of this Agreement shall control. The parties hereto acknowledge that each is
represented by separate counsel in connection with the negotiation and drafting of the Loan Documents and that the Loan Documents shall not be subject to the principle of construing their meaning against the party that drafted them. 
  

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 10.19 No Third Party Beneficiaries. The Loan Documents are solely for the benefit of Lender
and Borrower and nothing contained in any Loan Document shall be deemed to confer upon anyone other than the Lender and Borrower any right to insist upon or to enforce the performance or observance of any of the obligations contained therein.

 10.20 Yield Maintenance Premium. Borrower acknowledges that (a) Lender is making the Loan in consideration of the
receipt by Lender of all interest and other benefits intended to be conferred by the Loan Documents and (b) if payments of Principal are made to Lender prior to the Stated Maturity Date, for any reason whatsoever, whether voluntary, as a result
of Lender’s acceleration of the Loan after an Event of Default, by operation of law or otherwise, Lender will not receive all such interest and other benefits and may, in addition, incur costs. For these reasons, and to induce Lender to make
the Loan, Borrower agrees that, except as expressly provided in Article 7 hereof, all prepayments, if any, whether voluntary or involuntary, will be accompanied by the Yield Maintenance Premium. Such Yield Maintenance Premium shall be
required whether payment is made by Borrower, by a Person on behalf of Borrower, or by the purchaser at any foreclosure sale, and may be included in any bid by Lender at such sale. Borrower further acknowledges that (A) it is a knowledgeable
real estate developer and/or investor; (B) it fully understands the effect of the provisions of this Section 10.20, as well as the other provisions of the Loan Documents; (C) the making of the Loan by Lender at the Interest
Rate and other terms set forth in the Loan Documents are sufficient consideration for Borrower’s obligation to pay a Yield Maintenance Premium (if required); and (D) Lender would not make the Loan on the terms set forth herein without the
inclusion of such provisions. Borrower also acknowledges that the provisions of this Agreement limiting the right of prepayment and providing for the payment of the Yield Maintenance Premium and other charges specified herein were independently
negotiated and bargained for, and constitute a specific material part of the consideration given by Borrower to Lender for the making of the Loan except as expressly permitted hereunder. 
 10.21 Assignment. The Loan, the Note, the Loan Documents and/or Lender’s rights, title, obligations and interests therein may be
assigned by Lender and any of its successors and assigns to any Person at any time in its discretion, in whole or in part, whether by operation of law (pursuant to a merger or other successor in interest) or otherwise. Upon such assignment, all
references to Lender in this Loan Agreement and in any Loan Document shall be deemed to refer to such assignee or successor in interest and such assignee or successor in interest shall thereafter stand in the place of Lender. Borrower may not assign
its rights, title, interests or obligations under this Loan Agreement or under any of the Loan Documents except in connection with a Transfer and Assumption permitted hereunder. 
 10.22 Certain Additional Rights of Lender. Notwithstanding anything to the contrary which may be contained in this Agreement, Lender shall
have: 
 (i) the right to routinely consult with Borrower’s management regarding the significant business activities and business and
financial developments of Borrower, provided, however, that such consultations shall not include discussions of 

  

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environmental compliance programs or disposal of hazardous substances. Consultation meetings should occur on a regular basis (no less frequently than
quarterly) with Lender having the right to call special meetings at any reasonable times; 
 (ii) the right, in accordance with the terms of
this Agreement, to examine the books and records of Borrower at any time upon reasonable notice; 
 (iii) the right, in accordance with the
terms of this Agreement, to receive monthly, quarterly and year-end financial reports, including balance sheets, statements of income, shareholder’s equity and cash flow, a management report and schedules of outstanding indebtedness;

 (iv) the right, without restricting any other rights of Lender under this Agreement (including any similar right), to restrict financing
to be obtained with respect to the Property so long as any portion of the Debt remains outstanding; 
 (v) the right, without restricting
any other right of Lender under this Agreement or the other Loan Documents (including any similar right), to restrict, upon the occurrence of an Event of Default, Borrower’s payments of management, consulting, director or similar fees to
Affiliates of Borrower from the Rents; 
 (vi) the right, without restricting any other rights of Lender under this Agreement (including any
similar right), to approve any operating budget and/or capital budget of Borrower; 
 (vii) the right, without restricting any other rights
of Lender under this Agreement (including any similar right), to approve any acquisition by Borrower of any other significant property (other than personal property required for the day to day operation of the Property); and 
 (viii) the right, without restricting any other rights of Lender under this Agreement (including any similar right), to restrict the transfer of
interests in Borrower held by its members, and the right to restrict the transfer of interests in such member, except for any transfer that is a Permitted Transfer. 
 The rights described above may be exercised directly or indirectly by any Person that owns substantially all of the ownership interests in Lender. The provisions of this Section are intended to satisfy the requirement
of management rights for purposes of the Department of Labor “plan assets” regulation 29 C.F.R., Section 2510.3-101. 
 10.23 Set-Off. In addition to any rights and remedies of Lender provided by this Loan Agreement and by law, following and during the continuance of an Event of Default, Lender shall have the right, without prior notice to
Borrower, any such notice being expressly waived by Borrower to the extent permitted by applicable law, upon any amount becoming due and payable by Borrower hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and
appropriate and apply against such amount any 

  

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and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any
currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by Lender or any Affiliate thereof to or for the credit or the account of Borrower. 
 10.24 Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an
original, but all of which shall together constitute one and the same instrument. 
 [Remainder of Page Intentionally Left Blank]

  

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 IN WITNESS WHEREOF, the parties hereto have caused this Loan Agreement to be duly executed by
their duly authorized representatives, all as of the day and year first above written. 

									
	KBS CLAYTON PLAZA, LLC, a Delaware limited liability company
		
	By:	 	KBS REIT ACQUISITION I, LLC,
		 	a Delaware limited liability company, its sole member
			
		 	By:	 	KBS Limited Partnership,
		 		 	a Delaware limited partnership, its sole member
				
		 		 	By:	 	KBS REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation,
		 		 		 	general partner
					
		 		 		 	By:	 	 /s/ Charles J. Schreiber, Jr.

		 		 		 		 	Charles J. Schreiber, Jr.
		 		 		 		 	Chief Executive Officer
	
	GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a Delaware corporation
		
	By:	 	 /s/ Authorized Signatory

  

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