Document:

Exhibit 10.1

 

INDEMNIFICATION AGREEMENT

 

This
Agreement made and entered into this             
day of                       ,
2008, (the “Agreement”), by and between Deckers Outdoor Corporation, a
Delaware corporation (the “Company,” which term shall include, where
appropriate, any Entity (as hereinafter defined) controlled directly or
indirectly by the Company) and                                           
(the “Indemnitee”):

 

WHEREAS,
it is essential to the Company that it be able to retain and attract as
directors and executive officers the most capable persons available;

 

WHEREAS,
increased corporate litigation has subjected directors and executive officers
to litigation risks and expenses, and the limitations on the availability of
directors and officers liability insurance have made it increasingly difficult
for the Company to attract and retain such persons;

 

WHEREAS,
the Company’s Certificate of Incorporation (the “Certificate of
Incorporation”) and Bylaws (the “Bylaws”) require it to indemnify
its directors to the fullest extent permitted by law and permit it to make
other indemnification arrangements and agreements;

 

WHEREAS,
the Company desires to provide Indemnitee with specific contractual assurance
of Indemnitee’s rights to full indemnification against litigation risks and
expenses (regardless, among other things, of any amendment to or revocation of
the Certificate of Incorporation or Bylaws or any change in the ownership of
the Company or the composition of its Board of Directors);

 

WHEREAS,
the Company intends that this Agreement provide Indemnitee with greater
protection than that which is provided by the Company’s Certificate of
Incorporation or Bylaws; and

 

WHEREAS,
Indemnitee is relying upon the rights afforded under this Agreement in [becoming][continuing as] a director or
executive officer of the Company.

 

NOW,
THEREFORE, in consideration of the promises and the covenants contained herein,
the Company and Indemnitee do hereby covenant and agree as follows:

 

1.  Definitions.

 

(a)      “Corporate
Status” describes the status of a person who is serving or has served (i) as
a director of the Company, (ii) as an executive officer of the Company, (iii) in
any capacity with respect to any employee benefit plan of the Company, or (iv) as
a director, partner, trustee, officer, employee, or agent of any other Entity
at the request of the Company. For purposes of subsection (iv) of this Section 1(a),
if Indemnitee is serving or has served as a director, partner, trustee,
officer, employee or agent of a Subsidiary, Indemnitee shall be deemed to be
serving at the request of the Company.

 

(b)     “Entity”
shall mean any corporation, partnership, limited liability company, joint
venture, trust, foundation, association, organization or other legal entity.

 

(c)      “Expenses”
shall mean all fees, costs and expenses incurred by Indemnitee in connection
with any Proceeding (as defined below), including, without limitation,
attorneys’ fees, disbursements and retainers (including, without limitation,
any such fees, disbursements and retainers incurred by Indemnitee pursuant to
Sections 11 and 12(c) of this Agreement), fees and disbursements of
expert witnesses, private investigators and professional advisors (including,
without limitation, accountants and investment bankers), court costs,
transcript costs, fees of experts, travel expenses, 

 

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duplicating,
printing and binding costs, telephone and fax transmission charges, postage,
delivery services, secretarial services, and other disbursements and expenses.

 

(d)     “Indemnifiable
Expenses,” “Indemnifiable Liabilities” and “Indemnifiable Amounts”
shall have the meanings ascribed to those terms in Section 3(a) below.

 

(e)      “Liabilities”
shall mean judgments, damages, liabilities, losses, penalties, excise taxes,
fines and amounts paid in settlement.

 

(f)      “Proceeding”
shall mean any threatened, pending or completed claim, action, suit,
arbitration, alternate dispute resolution process, investigation,
administrative hearing, appeal, or any other proceeding, whether civil,
criminal, administrative, arbitrative or investigative, whether formal or
informal, including a proceeding initiated by Indemnitee pursuant to Section 11
of this Agreement to enforce Indemnitee’s rights hereunder.

 

(g)     “Subsidiary”
shall mean any corporation, partnership, limited liability company, joint
venture, trust or other Entity of which the Company owns (either directly or
through or together with another Subsidiary of the Company) either (i) a
general partner, managing member or other similar interest or (ii) (A) 50%
or more of the voting power of the voting capital equity interests of such
corporation, partnership, limited liability company, joint venture or other
Entity, or (B) 50% or more of the outstanding voting capital stock or
other voting equity interests of such corporation, partnership, limited
liability company, joint venture or other Entity.

 

2.  Services of
Indemnitee. In consideration of the Company’s covenants and
commitments hereunder, Indemnitee agrees to serve or continue to serve as a
director or executive officer of the Company. However, this Agreement shall not
impose any obligation on Indemnitee or the Company to continue Indemnitee’s
service to the Company beyond any period otherwise required by law or by other
agreements or commitments of the parties, if any.

 

3.  Agreement to
Indemnify. The Company agrees to indemnify Indemnitee as
follows:

 

(a)      Proceedings
Other Than By or In the Right of the Company. Subject to the exceptions
contained in Section 4(a) below, if Indemnitee was or is a party or
is threatened to be made a party to any Proceeding (other than an action by or
in the right of the Company) by reason of Indemnitee’s Corporate Status,
Indemnitee shall be indemnified by the Company against all Expenses and
Liabilities incurred or paid by Indemnitee in connection with such Proceeding
(referred to herein as “Indemnifiable Expenses” and “Indemnifiable
Liabilities,” respectively, and collectively as “Indemnifiable Amounts”).

 

(b)     Proceedings By
or In the Right of the Company. Subject to the exceptions
contained in Section 4(b) below, if Indemnitee was or is a party or
is threatened to be made a party to any Proceeding by or in the right of the
Company by reason of Indemnitee’s Corporate Status, Indemnitee shall be
indemnified by the Company against all Indemnifiable Expenses.

 

(c)      Conclusive
Presumption Regarding Standard of Care. In making any
determination required to be made under Delaware law with respect to
entitlement to indemnification hereunder, the person, persons or entity making
such determination shall presume that Indemnitee is entitled to indemnification
under this Agreement if Indemnitee submitted a request therefor in accordance
with Section 5 of this Agreement, and the Company shall have the burden of
proof to overcome that presumption in connection with the making by any person,
persons or entity of any determination contrary to that presumption.

 

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4.  Exceptions to
Indemnification. Indemnitee shall be entitled to indemnification
under Sections 3(a) and 3(b) above in all circumstances other
than with respect to any specific claim, issue or matter involved in the
Proceeding out of which Indemnitee’s claim for indemnification has arisen, as
follows:

 

(a)      Proceedings
Other Than By or In the Right of the Company. If indemnification is
requested under Section 3(a) and it has been finally adjudicated by a
court of competent jurisdiction that, in connection with such specific claim,
issue or matter, Indemnitee failed to act (i) in good faith and (ii) in
a manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company, or, with respect to any criminal Proceeding,
Indemnitee had reasonable cause to believe that Indemnitee’s conduct was
unlawful, Indemnitee shall not be entitled to payment of Indemnifiable Amounts
hereunder.

 

(b)     Proceedings By
or In the Right of the Company. If indemnification is
requested under Section 3(b) and

 

(i)            it has been
finally adjudicated by a court of competent jurisdiction that, in connection
with such specific claim, issue or matter, Indemnitee failed to act (A) in
good faith and (B) in a manner Indemnitee reasonably believed to be in or
not opposed to the best interests of the Company, Indemnitee shall not be
entitled to payment of Indemnifiable Expenses hereunder; or

 

(ii)           it has been
finally adjudicated by a court of competent jurisdiction that Indemnitee is
liable to the Company with respect to such specific claim, Indemnitee shall not
be entitled to payment of Indemnifiable Expenses hereunder with respect to such
claim, issue or matter unless a court of competent jurisdiction in which such
Proceeding was brought shall determine upon application that, despite the
adjudication of liability, but in view of all the circumstances of the case,
Indemnitee is fairly and reasonably entitled to indemnification for such
Indemnifiable Expenses which such court shall deem proper; or

 

(iii)          it has been
finally adjudicated by a court of competent jurisdiction that Indemnitee is
liable to the Company for an accounting of profits made from the purchase or
sale by the Indemnitee of securities of the Company pursuant to the provisions
of Section 16(b) of the Securities Exchange Act of 1934, the rules and
regulations promulgated thereunder and amendments thereto or similar provisions
of any federal, state or local statutory law, Indemnitee shall not be entitled
to payment of Indemnifiable Expenses hereunder.

 

(c)      Insurance
Proceeds. To the extent payment is actually made to the
Indemnitee under a valid and collectible insurance policy in respect of
Indemnifiable Amounts in connection with such specific claim, issue or matter,
Indemnitee shall not be entitled to payment of Indemnifiable Amounts hereunder
except in respect of any excess beyond the amount of payment under such
insurance.

 

5.  Procedure for
Payment of Indemnifiable Amounts. Indemnitee shall submit to
the Company a written request specifying the Indemnifiable Amounts for which
Indemnitee seeks payment under Section 3 of this Agreement and the basis
for the claim. The Company shall pay such Indemnifiable Amounts to Indemnitee
promptly upon receipt of its request. At the request of the Company, Indemnitee
shall furnish such documentation and information as are reasonably available to
Indemnitee and necessary to establish that Indemnitee is entitled to
indemnification hereunder.

 

6.  Indemnification
for Expenses of a Party Who is Wholly or Partly Successful.
Notwithstanding any other provision of this Agreement, and without limiting any
such provision, to

 

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the
extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party
to and is successful, on the merits or otherwise, in any Proceeding, Indemnitee
shall be indemnified against all Expenses reasonably incurred by Indemnitee or
on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly
successful in such Proceeding but is successful, on the merits or otherwise, as
to one or more but less than all claims, issues or matters in such Proceeding,
the Company shall indemnify Indemnitee against all Expenses reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection with each successfully
resolved claim, issue or matter. For purposes of this Agreement, the
termination of any claim, issue or matter in such a Proceeding by dismissal,
with or without prejudice, by reason of settlement, judgment, order or
otherwise, shall be deemed to be a successful result as to such claim, issue or
matter.

 

7.  Effect of
Certain Resolutions. Neither the settlement or termination of any
Proceeding nor the failure of the Company to award indemnification or to
determine that indemnification is payable shall create a presumption that Indemnitee
is not entitled to indemnification hereunder. In addition, the termination of
any proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent shall not create a presumption that
Indemnitee did not act in good faith and in a manner which Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Company or, with respect to any criminal Proceeding, had reasonable cause to
believe that Indemnitee’s action was unlawful.

 

8.  Advancement of
Expenses; Undertaking. The Company shall advance all Expenses
incurred by or on behalf of Indemnitee in connection with any Proceeding,
including a Proceeding by or in the right of the Company, in which Indemnitee
is involved by reason of such Indemnitee’s Corporate Status within ten (10) calendar
days after the receipt by the Company of a written statement from Indemnitee
requesting such advance or advances from time to time, whether prior to or
after final disposition of such Proceeding. To the extent required by Delaware
law, Indemnitee hereby undertakes to repay any and all of the amount of
Indemnifiable Expenses paid to Indemnitee if it is finally determined by a
court of competent jurisdiction that Indemnitee is not entitled under this
Agreement to indemnification with respect to such Expenses. This undertaking is
an unlimited general obligation of Indemnitee.

 

9.  Procedure for
Advance Payment of Expenses. Indemnitee shall submit to
the Company a written request specifying the Indemnifiable Expenses for which
Indemnitee seeks an advancement under Section 8 of this Agreement,
together with documentation evidencing that Indemnitee has incurred such
Indemnifiable Expenses. Payment of Indemnifiable Expenses under Section 8
shall be made no later than ten (10) calendar days after the Company’s
receipt of such request.

 

10.                Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of his Corporate Status,
a witness in any Proceeding to which Indemnitee is not a party, he shall be
indemnified against all Expenses actually and reasonably incurred by him or on
his behalf in connection therewith.

 

11.                Remedies of
Indemnitee.

 

(a)      Right to
Petition Court. In the event that Indemnitee makes a request for
payment of Indemnifiable Amounts under Sections 3 and 5 above or a request
for an advancement of Indemnifiable Expenses under Sections 8 and 9 above
and the Company fails to make such payment or advancement in a timely manner
pursuant to the terms of this Agreement, Indemnitee may petition a court of
competent jurisdiction to enforce the Company’s obligations under this
Agreement.

 

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(b)     Burden of Proof. In any
judicial proceeding brought under Section 11(a) above, the Company
shall have the burden of proving that Indemnitee is not entitled to payment of
Indemnifiable Amounts hereunder.

 

(c)      Expenses. The Company
agrees to reimburse Indemnitee in full for any Expenses incurred by Indemnitee
in connection with investigating, preparing for, litigating, defending or
settling any action brought by Indemnitee under Section 11(a) above,
or in connection with any claim or counterclaim brought by the Company in
connection therewith, whether or not Indemnitee is successful in whole or in
part in connection with any such action.

 

(d)     Failure to Act
Not a Defense. The failure of the Company (including its Board of
Directors or any committee thereof, independent legal counsel, or stockholders)
to make a determination concerning the permissibility of the payment of
Indemnifiable Amounts or the advancement of Indemnifiable Expenses under this
Agreement shall not be a defense in any action brought under Section 11(a) above,
and shall not create a presumption that such payment or advancement is not
permissible.

 

12.                Defense of the
Underlying Proceeding.

 

(a)      Notice by
Indemnitee. Indemnitee agrees to notify the Company promptly
upon being served with any summons, citation, subpoena, complaint, indictment,
information, or other document relating to any Proceeding which may result in
the payment of Indemnifiable Amounts or the advancement of Indemnifiable
Expenses hereunder; provided, however, that the failure to give any such notice
shall not disqualify Indemnitee from the right, or otherwise affect in any
manner any right of Indemnitee, to receive payments of Indemnifiable Amounts or
advancements of Indemnifiable Expenses unless the Company’s ability to defend
in such Proceeding is materially and adversely prejudiced thereby.

 

(b)     Defense by
Company. Subject to the provisions of the last sentence of this Section 12(b) and
of Section 12(c) below, the Company shall have the right to defend
Indemnitee in any Proceeding which may give rise to the payment of Indemnifiable
Amounts hereunder; provided, however that the Company shall notify Indemnitee
of any such decision to defend within ten (10) calendar days of receipt of
notice of any such Proceeding under Section 12(a) above. The Company
shall not, without the prior written consent of Indemnitee, consent to the
entry of any judgment against Indemnitee or enter into any settlement or
compromise which (i) includes an admission of fault of Indemnitee or (ii) does
not include, as an unconditional term thereof, the full release of Indemnitee
from all liability in respect of such Proceeding, which release shall be in
form and substance reasonably satisfactory to Indemnitee. This Section 12(b) shall
not apply to a Proceeding brought by Indemnitee under Section 11(a) above
or pursuant to Section 20 below.

 

(c)      Indemnitee’s
Right to Counsel. Notwithstanding the provisions of Section 12(b) above,
if in a Proceeding to which Indemnitee is a party by reason of Indemnitee’s
Corporate Status, (i) Indemnitee reasonably concludes that he or she may
have separate defenses or counterclaims to assert with respect to any issue
which may not be consistent with the position of other defendants in such
Proceeding, (ii) a conflict of interest or potential conflict of interest
exists between Indemnitee and the Company, or (iii) if the Company fails
to assume the defense of such proceeding in a timely manner, Indemnitee shall
be entitled to be represented by separate legal counsel of Indemnitee’s choice
at the expense of the Company. In addition, if the Company fails to comply with
any of its obligations under this Agreement or in the event that the Company or
any other person takes any action to declare this Agreement void or
unenforceable, or institutes any action, suit or proceeding to deny or to
recover from Indemnitee the benefits intended to be provided to Indemnitee
hereunder, 

 

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Indemnitee
shall have the right to retain counsel of Indemnitee’s choice, at the expense
of the Company, to represent Indemnitee in connection with any such matter.

 

13.                Representations
and Warranties of the Company. The Company hereby
represents and warrants to Indemnitee as follows:

 

(a)      Authority. The Company
has all necessary power and authority to enter into, and be bound by the terms
of, this Agreement, and the execution, delivery and performance of the
undertakings contemplated by this Agreement have been duly authorized by the
Company.

 

(b)     Enforceability. This
Agreement, when executed and delivered by the Company in accordance with the
provisions hereof, shall be a legal, valid and binding obligation of the
Company, enforceable against the Company in accordance with its terms, except
as such enforceability may be limited by applicable bankruptcy, insolvency,
moratorium, reorganization or similar laws affecting the enforcement of
creditors’ rights generally.

 

14.                Insurance. The Company
shall, from time to time, make the good faith determination whether or not it
is practicable for the Company to obtain and maintain a policy or policies of
insurance with a reputable insurance company providing the Indemnitee with
coverage for losses from wrongful acts. For so long as Indemnitee shall remain
a director or executive officer of the Company and with respect to any such
prior service, in all policies of director and officer liability insurance,
Indemnitee shall be named as an insured in such a manner as to provide
Indemnitee the same rights and benefits as are accorded to the most favorably
insured of the Company’s officers and directors. Notwithstanding the foregoing,
the Company shall have no obligation to obtain or maintain such insurance if
the Company determines in good faith that such insurance is not reasonably
available, if the premium costs for such insurance are disproportionate to the
amount of coverage provided, or if the coverage provided by such insurance is
limited by exclusions so as to provide an insufficient benefit. The Company
shall promptly notify Indemnitee of any good faith determination not to provide
such coverage.

 

15.                Contract Rights
Not Exclusive. The rights to payment of Indemnifiable Amounts and
advancement of Indemnifiable Expenses provided by this Agreement shall be in
addition to, but not exclusive of, any other rights which Indemnitee may have
at any time under applicable law, the Company’s Certificate of Incorporation or
Bylaws, or any other agreement, vote of stockholders or directors (or a
committee of directors), or otherwise, both as to action in Indemnitee’s
official capacity and as to action in any other capacity as a result of
Indemnitee’s serving as a director or executive officer of the Company.

 

16.                Successors. This
Agreement shall be (a) binding upon all successors and assigns of the
Company (including any transferee of all or a substantial portion of the
business, stock and/or assets of the Company and any direct or indirect
successor by merger or consolidation or otherwise by operation of law) and (b) binding
on and shall inure to the benefit of the heirs, personal representatives,
executors and administrators of Indemnitee. This Agreement shall continue for
the benefit of Indemnitee and such heirs, personal representatives, executors
and administrators after Indemnitee has ceased to have Corporate Status.

 

17.                Subrogation. In the event
of any payment of Indemnifiable Amounts under this Agreement, the Company shall
be subrogated to the extent of such payment to all of the rights of
contribution or recovery of Indemnitee against other persons, and Indemnitee
shall take, at the request of the Company, all reasonable action necessary to
secure such rights, including the 

 

6

 

execution
of such documents as are necessary to enable the Company to bring suit to
enforce such rights.

 

18.                Change in Law. To the extent
that a change in Delaware law (whether by statute or judicial decision) shall
permit broader indemnification or advancement of expenses than is provided
under the terms of the Bylaws and this Agreement, Indemnitee shall be entitled
to such broader indemnification and advancements, and this Agreement shall be
deemed to be amended to such extent.

 

19.                Severability. Whenever
possible, each provision of this Agreement shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision
of this Agreement, or any clause thereof, shall be determined by a court of
competent jurisdiction to be illegal, invalid or unenforceable, in whole or in
part, such provision or clause shall be limited or modified in its application
to the minimum extent necessary to make such provision or clause valid, legal
and enforceable, and the remaining provisions and clauses of this Agreement
shall remain fully enforceable and binding on the parties.

 

20.                Indemnitee as Plaintiff. Except as
provided in Section 11(c) of this Agreement and in the next sentence,
Indemnitee shall not be entitled to payment of Indemnifiable Amounts or
advancement of Indemnifiable Expenses with respect to any Proceeding brought by
Indemnitee against the Company, any Entity which it controls, any director or
officer thereof, or any third party, unless the Board of Directors of the
Company has consented to the initiation of such Proceeding. This Section shall
not apply to counterclaims or affirmative defenses asserted by Indemnitee in an
action brought against Indemnitee.

 

21.                Modifications
and Waiver. Except as provided in Section 18 above with
respect to changes in Delaware law which broaden the right of Indemnitee to be
indemnified by the Company, no supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by each of the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or
shall constitute a waiver of any other provisions of this Agreement (whether or
not similar), nor shall such waiver constitute a continuing waiver.

 

22.                General Notices. All notices,
requests, demands and other communications hereunder shall be in writing and
shall be deemed to have been duly given (a) when delivered by hand, (b) when
transmitted by facsimile and receipt is acknowledged, or (c) if mailed by
certified or registered mail with postage prepaid, on the third business day
after the date on which it is so mailed:

 

	
   

  	
   

  	
   

  
	
  (a)

  	
  If
  to Indemnitee, to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (b)

  	
  If
  to the Company, to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Deckers
  Outdoor Corporation

  	
   

  
	
   

  	
  495-A
  South Fairview Avenue

  	
   

  
	
   

  	
  Goleta,
  CA 93117

  	
   

  
	
   

  	
  Attention:
  

  	
   

  

 

7

 

or
to such other address as may have been furnished in the same manner by any
party to the others.

 

23.                Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware without regard to its rules of conflict of laws.

 

[Signature Page Follows]

 

8

 

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

 

	
   

  	
   

  	
   

  
	
   

  	
  DECKERS
  OUTDOOR

  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INDEMNITEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  

 

9Exhibit 10.1

 

Centro NP LLC

420 Lexington Avenue, 7th Floor

New York, New York 10170

 

As of May 30, 2008

 

Bank
of America, N.A.

Hearst
Tower

214
North Tryon Street

Charlotte,
North Carolina 28255

 

Re:          Amended and Restated Revolving Credit
Agreement, dated July 31, 2007, by and among Centro NP LLC (the “Borrower”),
the lenders party thereto (each, a “Lender,” and, collectively, the “Lenders”),
and Bank of America, N.A., as agent for the Lenders (in such capacity, the “Administrative
Agent,” and together with the Lenders, the “Lender Parties”) (as
amended, restated, supplemented or otherwise modified from time to time, the “Loan
Agreement,” and collectively with all related agreements and ancillary
documents, the “Loan Documents”), and modified by Letter Agreement dated
as of February 14, 2008 (as amended and modified, the “Initial
Extension Agreement”) by and among the Borrower, the Lender Parties, CPT
Manager Limited, as responsible entity of the Centro Property Trust and Centro
Properties Limited (together, the “Parent Guarantors”)) and the
Subsidiary Guarantors referenced in the Loan Agreement (the Parent Guarantors
and such Subsidiary Guarantors, the “Initial Guarantors” and,
collectively with the guarantors under that certain Subsidiary Guarantor
Guaranty, dated as of March 28, 2008, the “Guarantors”), as further
modified by (i) Letter Agreement, dated as of March 28, 2008, by and
among the Borrower, the Initial Guarantors and the Lender Parties (the “March Agreement”),
(ii) Letter Agreement, dated as of April 29, 2008, by and among the
Borrower, the Guarantors and the Lender Parties (the “April Agreement”)
and (iii) Letter Agreement, dated as of May 7, 2008, by and among the
Borrower, the Guarantors and the Lender Parties (the “May 7 Agreement,”
and together with the March Agreement and the April Agreement, the “Letter
Agreements,” and together with the Initial Extension Agreement, the “Extension
Agreement”)

 

 

Ladies
and Gentlemen:

 

Capitalized terms used herein and not otherwise
defined have the meanings set forth in the Initial Extension Agreement or, if
not defined therein, in the applicable Letter Agreement (or, if not defined in
the Initial Extension Agreement or any Letter Agreement, in the Loan
Agreement).

 

The penultimate paragraph of Section 2 of the
May 7 Agreement provides that it shall be a Trigger Event in the event the
Lender Parties and the Other Bank/Noteholder Group Lenders fail to execute an
agreement on or before May 30, 2008 concerning the terms upon which
(i) any real property interest (other than a lease entered into in the
ordinary course of business) or equity interest owned by a Company Entity may
be sold, assigned or disposed of, (ii) the proceeds of any such sales,
assignments or dispositions referred to in clause (i) above are to be
applied and (iii) any refinancing transactions that relate to members of
the Group, the Super Entities and the Centro GA Entities may be consummated
(the matters identified in clauses (i), (ii) and (iii) above,
collectively, the “Asset Disposal and Proceeds Sharing Principles”). The
failure of the Lender Parties and the Other Bank/Noteholder Group Lenders to
reach agreement on the Asset Disposal and Proceeds Sharing Principles on or
before May 30, 2008 is also a trigger event or termination event under each
of the Other U.S. Bank Group Extension Agreements, the Australian Facility
Further Extension Deed and the Noteholder Further Extension Agreement.

 

The parties hereto now desire to enter into this
letter agreement to memorialize their agreement with respect to the Asset
Disposal and Proceeds Sharing Principles and certain matters attendant thereto.

 

By executing this letter agreement, each of the
parties hereto agrees and acknowledges, effective from and after the Effective
Date, as follows:

 

1.               Defined Terms. In addition to the terms defined elsewhere
in this letter agreement, the following terms have the meanings specified
below:

 

“Asset Disposal and Proceeds Sharing Terms”
means the terms and provisions set forth in Exhibit A hereto, which
are incorporated into paragraphs 3 and 4 of this letter agreement as if set
forth fully and at length herein.

 

“Australian Bank/Noteholder Group May 30
Documents” means, collectively, the Australian Facility Fifth Amendment
Deed, the May 30 Noteholder Agreement and the Transaction Documents (as
defined in the Australian Facility Fifth Amendment Deed), each of which shall
be in form and substance acceptable to the Lender Parties.

 

“Australian Company Entities” means,
collectively, the Parent Guarantors, the members of the Group and the
Controlled Entities.

 

“Australian Facility Fifth Amendment Deed”
means that certain Extension Deed – Fifth Amendment Deed, dated as of the date
hereof, among the Parent Guarantors, the Australian Lenders and the other
parties thereto.

 

2

 

“Australian Lenders” means the lenders that
are, from time to time, parties to the documents evidencing the Australian
Credit Facility.

 

“Effective Date” means the date upon which
this letter agreement becomes effective pursuant to paragraph 12 hereof.

 

“Liquidity Facility Agreement” means the
syndicated loan facility agreement, dated on or about the date hereof, among
the Liquidity Facility Borrower, Australia and New Zealand Banking Group
Limited, as agent, and each of the financial institutions and guarantors listed
therein.

 

“Liquidity Facility Borrower” means CPT
Manager Limited, as responsible entity of the Centro (CPT) Trust.

 

“Liquidity Facility Lenders” means the
lenders that are, from time to time, parties to the Liquidity Facility
Agreement.

 

“May 7 Trigger Events” means the Trigger
Events set forth in the penultimate paragraph of Section 2 of the
May 7 Agreement and in Section 5(b)(2) and (4) of the
May 7 Agreement.

 

“May 30 Noteholder Agreement” means that
certain First Amendment to Amended and Restated Noteholder Agreement, dated as
of the date hereof, among the noteholders listed on the signature
pages thereof and the Constituent Companies (as defined therein).

 

“Other May 30 Agreements” means the
letter agreements executed on or about the date hereof by the Bridge Lenders
and KeyBank in form and substance substantially similar to this letter
agreement in respect of the Bridge Facility and the KeyBank Facilities,
respectively, each of which shall be in form and substance acceptable to the
Lender Parties.

 

2.               Consents and Acknowledgments of the Lender
Parties.  Each of
the Lender Parties hereby consents to, and waives any default under the Loan
Documents and/or the Extension Agreement, any Event of Default and any Trigger
Event that may arise as a result of (a) the execution and delivery of the
Australian Facility Fifth Amendment Deed and the May 30 Noteholder
Agreement by the applicable Centro Entities and the consummation of the transactions
contemplated thereby, (b) the execution and delivery of the Other
May 30 Agreements by the applicable Super Entities or Centro GA Entities
and the consummation of the transactions contemplated thereby, (c) the
execution and delivery of the Transaction Documents, in accordance with the
terms of the Australian Facility Fifth Amendment Deed and the May 30
Noteholder Agreement and the consummation of the transactions and granting of
the security contemplated thereby and (d) the execution and delivery by the
Liquidity Facility Borrower of the Liquidity Facility Agreement and any
documents executed in connection therewith and the terms and provisions thereof
and the transactions and security interests provided for therein, including the
borrowings thereunder by the Liquidity Facility Borrower. Other than as set
forth in this paragraph 2 or any other paragraph of this letter agreement, the
Initial Extension Agreement or the Letter Agreements the Lender Parties have
not consented to any matters that

 

3

 

would
otherwise constitute a default under the Loan Documents and/or the Extension
Agreement, an Event of Default or a Trigger Event.

 

3.             Asset Sales. Section 4(m) of the Initial Extension Agreement (as the
same may have been amended, modified or supplemented in the Letter Agreements)
is hereby amended to: (i) replace the words “May 30, 2008” with the
words “September 30, 2008” in each instance in which they appear in said
section and (ii) add the following sentence at the end thereof:
“Notwithstanding anything in this paragraph 4(m) to the contrary, from and
after the Effective Date through the Termination Date, each of the terms and
provisions of this paragraph 4(m) restricting the sale, assignment, or
disposition of assets owned or ground leased by any Super Entity or any
Australian Company Entity (or the direct or indirect equity interests of such
entities) shall be subject to, and deemed amended by, the Asset Disposal and
Proceeds Sharing Terms such that the Asset Disposal and Proceeds Sharing Terms
shall govern with respect to sales, assignments and dispositions of assets
owned or ground leased by any Super Entity or any Australian Company Entity (or
the direct or indirect equity interests of such entities); provided, for
the avoidance of doubt, that nothing in this paragraph or in the Asset Disposal
and Proceeds Sharing Terms is intended to, nor shall it be deemed to, restrict
any Centro GA Entity from consummating any sale, assignment or disposition of
any asset owned or ground leased by such Centro GA Entity, or prohibit any
Centro GA Entity from raising additional new equity or capital, or from
engaging in any refinancing transaction. The Lender Parties hereby confirm
their consent to any sale, assignment or disposition of real property that is
made in accordance with the terms of a binding contract of sale existing as of
the date of this letter agreement or that has been approved in writing by the
Lender Parties prior to the date hereof, including the Additional Permitted Property
Sales (as defined in the March Agreement) and the Approved Transactions
(as defined in the May 7 Agreement); provided, however, that
the consent of the Lender Parties to each of the Additional Permitted Property
Sales remains subject to the condition that the gross sale price reflected in
the proposal submitted to, and approved by, the Board of Directors of CPT in
respect of the applicable Additional Permitted Property Sale is not reduced by
an amount that is greater than the lesser of (i) 5% of such gross sale
price and (ii) $250,000 (for the avoidance of doubt, the net proceeds of
the Additional Permitted Property Sales and the Approved Transactions shall be
applied in accordance with the Asset Disposal and Proceeds Sharing Terms,
provided that the gross purchase prices of the properties that are the subject
of the Additional Permitted Property Sales and the Approved Transactions shall
not be included in any calculation of the aggregate gross purchase prices
during any applicable rolling twelve month period for purposes of the Asset
Disposal and Proceeds Sharing Terms).”

 

4.             Application of Proceeds Resulting from Asset
Dispositions.

 

(a)           Section 2(a) of the Initial Extension Agreement (as the same
may have been amended, modified or supplemented in the Letter Agreements) is
hereby amended and restated in its entirety as follows:

 

“Each of the Lender Parties agrees that, solely during the Extension
Period, except as expressly provided herein, such Lender Party shall not demand
payment or the turnover of amounts due under or in respect of the Loan
Agreement (other than interest that is otherwise due in accordance with the
Loan Agreement, as amended hereby), or exercise any right to net or set-off any

 

4

 

amounts
due or charge any default rate of interest (provided no Trigger Event or Event
of Default shall occur during the Extension Period), in each case under the
Loan Agreement or applicable non-bankruptcy law.

 

Without limiting the foregoing, solely during the Extension Period,
except as provided in Section 2(b), each of the Lender Parties agrees, as
follows:

 

(i)            that,
other than as set forth in this Section 2(a), the Borrower shall not be
required to make any mandatory prepayments that would otherwise be required to
be made to one or more of the Lender Parties pursuant to the Loan Agreement;
and

 

(ii)           that
any net proceeds generated from the sale of, or a condemnation or casualty with
respect to, any asset owned or ground leased by a Super Entity that is not a
Combined Pool Property (as defined below and as may be amended, supplemented or
modified from time to time) shall be applied in accordance with the Asset
Disposal and Proceeds Sharing Terms; provided,  however, that,
notwithstanding anything in this clause (ii) to the contrary, (x) the
restrictions set forth in this Section 2(a) with respect to the use
of net proceeds shall apply to net proceeds that are received by any Super
Entity from any Joint Venture Entity notwithstanding the fact that the definition
of “Super Entities” does not include Joint Venture Entities, (y) the
relevant Super Entity shall be permitted to use, in the case of a casualty
event with respect to a property that is not a Combined Pool Property where the
insurance proceeds payable to such Super Entity are less than 50% of the
appraised value of such property immediately prior to the casualty event, any
such insurance proceeds received by such Super Entity to reconstruct, rebuild
or repair any such property and (z) the relevant Super Entity shall be
permitted to use net proceeds to satisfy any cash obligations arising from the
redemption of preferred stock units issued by Excel Realty Partners L.P. at any
time on or prior to December 31, 2008 in an amount not to exceed
$85,000,000.”

 

(b)             Section 2(b) of the Initial
Extension Agreement (as the same may have been amended, modified or
supplemented in the Letter Agreements) is hereby amended and restated in its
entirety as follows:

 

“Any proceeds generated from the sale of, or a condemnation or casualty
with respect to, any property owned by a Super Entity that is a Combined Pool
Property shall be applied in accordance with the Asset Disposal and Proceeds
Sharing Terms; provided,  however, notwithstanding the foregoing,
the relevant Super Entity may use, in the case of a casualty event with respect
to a property that is a Combined Pool Property where the insurance proceeds
payable to such Super Entity are less than 50% of the appraised value of such
property immediately prior to the casualty event, any such insurance proceeds
received by such Super Entity to reconstruct, rebuild or repair any such
property.”

 

5

 

(c)           Section 2(c) of the Initial
Extension Agreement is hereby amended by replacing the words “Except as
provided in Section 2(b)” with the words “Except as provided in
Section 2(a) or Section 2(b)”.

 

5.               [Reserved]

 

6.               Modification and Deletion of May 7
Trigger Events.

 

(a)           The May 7 Trigger Events are hereby deleted; provided, however,
that if any modification, amendment or supplement to the Liquidity Facility
Agreement made subsequent to the date hereof results in non-compliance with any
parameter set forth in Section 2(d)(i) through (vi) of the
May 7 Agreement, the same shall constitute a Trigger Event unless
consented to in writing by the Lender Parties (for the avoidance of doubt,
(i) any non-compliance with any parameter set forth in
Section 2(d)(i) through (vi) of the May 7 Agreement
resulting solely from the entry into the Liquidity Facility Agreement, as the
same exists on the date hereof, shall not constitute a Trigger Event (the same
having been waived by the Lender Parties pursuant to paragraph 2 above) and
(ii) the execution of the documents contemplated by paragraph 9 below shall
not be deemed to be non-compliance with the parameter set forth in
Section 2(d)(i) through (vi) of the May 7 Agreement).

 

(b)           Section 3(q) of the Initial Extension Agreement (as added to
the Initial Extension Agreement in the May 7 Agreement) is hereby modified
to provide after the words “the Further Extension Agreements” the insertion of
the words “, except in respect of pledges by (i) Centro Super Residual 2
LLC and Centro New Plan, Inc. of their respective equity interests in
Super and (ii) Centro Super Management Joint Venture 2 Holdings, LLC of
its equity interests in Centro Super Management Joint Venture 2, LLC, in each
case, in favor of each of the Bridge Lenders and the Australian Bank/Noteholder
Group Lenders pursuant to the amended and restated pledge and security
agreement(s), guaranty agreement(s), collateral agency and security agreement
and intercreditor agreement that are entered into as contemplated by paragraph
9 of the letter agreement, dated May 30, 2008, among Super, the Parent
Guarantors, the guarantors under that certain Guaranty Agreement (Payment),
dated as of March 28, 2008, Centro GA America LLC and the Bridge Lenders.”

 

7.               [Reserved]

 

8.               [Reserved]

 

9.               Subsequent Documentation of Pledge,
Guarantee, Agency and Intercompany Agreements. The Lender Parties consent to the pledges by (i) Centro Super
Residual 2 LLC and Centro New Plan, Inc. of their respective equity
interests in Super and (ii) Centro Super Management Joint Venture 2
Holdings, LLC of its equity interests in Centro Super Management Joint Venture
2, LLC, in each case, in favor of each of the Bridge Lenders and the Australian
Bank/Noteholder Group Lenders pursuant to one or more amended and restated
pledge agreements, one or more guarantees, a collateral agency and security agreement
and an intercreditor agreement, in each case, in form and substance acceptable
to the Bridge Lenders.

 

10.             Cooperation. Each of the Super Entities and the Guarantors and their respective
advisors shall involve the Lender Parties and their financial advisor and legal
advisors

 

6

 

in
the restructuring efforts of the Group, including, but not limited to, the
evaluation and review process of any bids regarding the sale of assets or
broader equity recapitalization efforts. In addition, without limiting the
foregoing, the Guarantors shall provide to the financial advisor and legal
advisors of the Lender Parties for distribution to the Lender Parties all
reports, notices and other documents delivered pursuant clause 9.2(b), (c),
(d) and (i) of the Liquidity Facility Agreement at the same time such
documents are delivered to the Agent (as defined in the Liquidity Facility
Agreement).

 

11.           Release of Representatives. In consideration of the time and effort to
be expended by each of the Lender Parties in connection with the matters
described in the Extension Agreement and all amendments and modifications
thereto (including, without limitation, this letter agreement), the grant of
the relief provided for thereunder and hereunder and other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by
the Borrower and each of the Guarantors, each of the Releasors each hereby
irrevocably and unconditionally releases and forever discharges each of the
Indemnified Parties from any and all Claims in law or at equity, known or
unknown, ascertained or not ascertained, suspected or unsuspected, that the
Releasors ever had, now have, or shall or may have, solely to the extent such
Claims arise in connection with or concern any discussions, meetings,
agreements, transactions or information exchange contemplated or made under the
Loan Agreement, the Extension Agreement and this letter agreement through the
date hereof. The provisions set forth in this paragraph 11 shall survive any
termination or expiration of the Extension Agreement.

 

12.           Effectiveness. The parties hereto further acknowledge and
agree that, notwithstanding anything to the contrary set forth herein, the
effectiveness of this letter agreement shall be subject to satisfaction of the
conditions precedent that (a) the parties hereto shall have executed and
delivered this letter agreement, (b) each of the Bridge Lenders and
KeyBank shall have executed the applicable Other May 30 Agreements, which shall
provide for the approval by the Bridge Lenders and KeyBank, respectively, of
the Asset Disposal and Proceeds Sharing Terms (including, for avoidance of
doubt, consent to the terms relating to Super Working Capital Needs and
Permitted Debt (each term as defined in the Asset Disposal and Proceeds Sharing
Terms)), (c) each of the Australian Bank/Noteholder Group Lenders shall
have executed and delivered the applicable Australian Bank/Noteholder Group
May 30 Documents, the applicable documents of which shall provide for the
approval by the Australian Bank/Noteholder Group Lenders of the Asset Disposal
and Proceeds Sharing Terms (including, for avoidance of doubt, consent to the
terms relating to Super Working Capital Needs and Permitted Debt) and (d) the
Liquidity Facility Agreement and any and all documentation associated therewith
shall have been executed and delivered by the parties thereto and shall be
acceptable in form and substance to the Lender Parties. The Lender Parties
hereby agree that the execution and delivery by the Bridge Lenders, KeyBank,
the Australian Bank/Noteholder Group Lenders and the applicable Centro Entities
and/or Super Entities of the Other May 30 Agreements and/or the Australian
Bank/Noteholder May 30 Documents shall not constitute a Trigger Event
under Section 3(b) of the Initial Extension Agreement or any other
provision of the Extension Agreement.

 

13.           Reaffirmation of Borrower and Guarantor
Representations and Warranties Under Extension Agreement. The Borrower and the Guarantors agree and
acknowledge that all of the representations and warranties of the applicable
Super Entities and the Centro Entities

 

7

 

contained
in the Extension Agreement are true and correct in all material respects on the
effective date hereof immediately after giving effect to this letter agreement,
and all such representations and warranties are hereby incorporated by
reference and reaffirmed as if set forth fully and in their entirety, with the
same effect as though such representations and warranties had been made on and
as of the effective date hereof (it being understood that any representation or
warranty made as of a specific date shall be true and correct in all material
respects as of such specific date).

 

14.           Reaffirmation by Guarantors Under Respective
Guaranty Agreements. Each
Guarantor hereby unconditionally reaffirms its respective continuing guaranty
obligations to the Administrative Agent and the Lenders under the applicable
Guaranty (which, for the avoidance of doubt, shall include that certain
Guaranty Agreement (Payment), dated as of March 28, 2008) and agrees that
the transactions contemplated by this letter agreement shall not in any way
affect the validity and enforceability of such guaranty obligations or the Loan
Documents or the applicable Guaranty or reduce, impair or discharge their
obligations thereunder.

 

15.           [Reserved]

 

16.           Representation and Warranty to Certain
Expense Obligations Under the Liquidity Facility. The Borrower represents and warrants that
no fees, expenses, or other costs have been or are being charged or otherwise
imposed upon the Liquidity Facility Borrower by the Liquidity Facility Lenders
or the administrative agent under the Liquidity Facility Agreement that are in
excess of those fees, expenses, or other costs expressly provided for in, or
referenced in, the Liquidity Facility Agreement.

 

17.           Miscellaneous. This letter agreement shall constitute part
of the Loan Agreement for purposes of indemnification and the indemnification
provisions provided therein shall extend to this letter agreement. The
provisions of this paragraph 17 shall not limit the indemnification rights of
any party under the Loan Agreement.

 

18.           Payment of Costs. The respective counsel and advisors to each
Lender Party shall continue to receive payment in full of all invoiced costs,
fees and expenses as and when required pursuant to Section 1(e) of
the Initial Extension Agreement.

 

19.           Due Authorization, Etc. Each of the parties hereto hereby represents
and warrants that each of the following statements is true, accurate and
complete as to such party as of the effective date of this letter agreement:

 

(a)           such party has carefully read and fully
understood all of the terms and conditions of this letter agreement;

 

(b)           such party has consulted with, or had a full
and fair opportunity to consult with, an attorney regarding the terms and
conditions of this letter agreement;

 

(c)           such party has had a full and fair
opportunity to participate in the drafting of this letter agreement;

 

8

 

(d)           such party is freely, voluntarily, knowingly and intelligently entering
into this letter agreement;

 

(e)           in entering into this letter agreement, such party has not relied upon
any representation, warranty, covenant or agreement not expressly set forth
herein and in the Loan Agreement, the Extension Agreement and other documents
delivered in connection therewith;

 

(f)            this letter agreement has been duly
authorized and validly executed and delivered by such party and constitutes
each such party’s legal, valid and binding obligation, enforceable in
accordance with its terms; and

 

(g)           such party is duly organized, validly existing and in good standing
under the laws of its jurisdiction of formation and has the full power and
legal authority to execute this letter agreement, consummate the transactions
contemplated hereby, and perform its obligations hereunder.

 

20.           Capacity. The person or persons signing the letter agreement on behalf of the
Borrower and the Guarantors, respectively, is signing strictly in his/her
respective corporate capacity and not in an individual capacity.

 

21.           Non-Contravention. The execution, delivery and performance by
the Super Entities and the Guarantors, as applicable, of each such entity’s
respective obligations under and in connection with (a) the Other
May 30 Agreements, (b) the Australian Bank/Noteholder Group
May 30 Documents and (c) the Extension Agreement in each case as amended
and/or modified by this letter agreement, will not (i) contravene, result
in any breach of, or constitute a default under, or result in the creation of
any encumbrance in respect of any property of such entity or any of its
subsidiaries under, any indenture, mortgage, deed of trust, loan, purchase or
credit agreement, lease, corporate charter, memorandum and articles of
association, regulations or by-laws, or any other agreement or instrument to
which such entity or any of its subsidiaries is bound or by which such entity
or any of its subsidiaries or any of their respective properties may be bound
or affected (including, without limitation, the Other May 30 Agreements),
(ii) conflict with or result in a breach of any of the terms, conditions
or provisions of any order, judgment, decree, or ruling of any court,
arbitrator of governmental authority applicable to such entity or any of its
subsidiaries, (iii) violate any provision of any statute or other
rule or regulation of any governmental authority applicable to such entity
or any of its subsidiaries or (iv) contravene any of its constituent
documents.

 

22.           Counterparts. This letter agreement may be executed in
one or more counterparts and by different parties hereto on separate
counterparts, each of which, when so executed, shall constitute one and the
same agreement.

 

23.           Governing Law. This letter agreement shall be construed in
accordance with the laws of the State of New York, and the obligations, rights,
and remedies of the parties hereto shall be determined in accordance with such
laws.

 

24.           Continuation of Effectiveness of Extension
Agreement. Other than as
expressly modified by this letter agreement, all terms and provisions of the
Extension Agreement shall remain in full force and effect.

 

9

 

25.             Incorporation of Terms; Integration; Conflict. The Extension Agreement shall be deemed to
incorporate the terms and provisions of this letter agreement. Other than as
specifically modified by this letter agreement, all of the terms and conditions
of the Loan Documents (including, without limitation, all obligations of the
Guarantors with respect thereto) and the Extension Agreement are hereby
ratified and confirmed and the Loan Documents and the Extension Agreement each
remains in full force and effect as of the date hereof, and constitutes the
legal, valid and binding obligation, contract and agreement of the Borrower,
the Guarantors and the Lender Parties. This letter agreement (and the Extension
Agreement, as modified by this letter agreement) is deemed to be a Loan
Document, such that, among other things, any Trigger Event shall constitute an
Event of Default under the Loan Documents. In the event of any conflict between
the terms and provisions of the Extension Agreement, as modified hereby, and
any of the other Loan Documents, the Extension Agreement shall govern and
control.

 

[Signature Pages Follow]

 

10

 

	
  BORROWER:

  	
  CENTRO
  NP LLC, a Maryland limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  GUARANTORS:

  	
  NEW
  PLAN REALTY TRUST, LLC A Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXCEL
  REALTY TRUST-ST, LLC, a Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  
	
   

  	
  NEW
  PLAN FLORIDA HOLDINGS, LLC, a Delaware limited

  
	
   

  	
  liability
  company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CA
  NEW PLAN ASSET PARTNERSHIP IV, L.P., a Delaware limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  CA
  New Plan Asset, LLC, a Delaware limited liability company, its sole general
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  EXCEL
  REALTY TRUST NC, a North Carolina general partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  NC
  Properties #1 LLC, a Delaware limited liability company, its managing partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NP
  OF TENNESSEE, L.P., a Delaware limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  New
  Plan Tennessee, LLC, a Delaware limited liability company, its sole general
  partner

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
   

  	
  Title:
  Executive Vice President

  
						

 

 

	
   

  	
  POINTE
  ORLANDO DEVELOPMENT COMPANY, a California

  
	
   

  	
  general
  partnership

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
  ERT
  Development Corporation, a Delaware corporation, general partner

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  ERT
  Pointe Orlando, Inc., a New York Corporation,

  general partner

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  CA
  NEW PLAN TEXAS ASSETS, L.P., a Delaware limited partnership

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  CA
  New Plan Texas Assets, LLC, a Delaware limited liability company, its sole
  general partner

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HK
  NEW PLAN EXCHANGE PROPERTY OWNER I, LLC, a Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
  Title:
  Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HK
  NEW PLAN EXCHANGE PROPERTY OWNER II, L.P., a Delaware limited partnership

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  HK New Plan Lower Tier OH, LLC, a Delaware limited

  liability company, its general partner

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
   

  	
  Title:
  Executive Vice president

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NEW
  PLAN OF ILLINOIS, LLC, a Delaware limited liability

  company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name:
  Steven Siegel

  
	
   

  	
  Title:
  Executive Vice President

  
												

 

 

	
   

  	
  NEW PLAN PROPERTY HOLDING COMPANY, a Maryland 

  
	
   

  	
  real estate investment trust

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NEW PLAN OF MICHIGAN, LLC, a Delaware limited liability

  
	
   

  	
  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CENTRO PROPERTIES LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Hutchinson

  
	
   

  	
  Name: John Hutchinson

  
	
   

  	
  Title: Attorney

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Elizabeth Hourigan

  
	
   

  	
  Name: Elizabeth Hourigan

  
	
   

  	
  Title: Witness

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CPT MANAGER LIMITED, as Responsible Entity of the Centro

  
	
   

  	
  Property Trust

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Hutchinson

  
	
   

  	
  Name: John Hutchinson

  
	
   

  	
  Title: Attorney

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Elizabeth Hourigan

  
	
   

  	
  Name: Elizabeth Hourigan

  
	
   

  	
  Title: Witness

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CENTRO NP HOLDINGS 3 SPE, LLC, a Delaware limited

  
	
   

  	
  liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CENTRO NP HOLDINGS 4 SPE, LLC, a Delaware limited

  
	
   

  	
  liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  

 

 

	
   

  	
  CENTRO NP HOLDINGS 5B SPE, LLC, a Delaware
  limited

  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CENTRO NP HOLDINGS 6 SPE, LLC, a Delaware
  limited

  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CENTRO NP HOLDINGS 7 SPE, LLC, a Delaware
  limited

  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CENTRO NP HOLDINGS 8 SPE, LLC, a Delaware
  limited

  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CENTRO NP HOLDINGS 9 SPE, LLC, a Delaware
  limited

  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
  CENTRO NP BROADWAY FAIRE, L.P., a Delaware
  limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Centro NP Broadway Faire MGR, LLC, a 

  Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CENTRO NP METRO 580 SC, L.P., a Delaware
  limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Centro NP Metro 580 SC MGR, LLC., a 

  Delaware limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
						

 

 

	
   

  	
  CENTRO NP ROSE PAVILION, L.P., a Delaware
  limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Centro NP Rose Pavilion MGR, LLC, a
  Delaware limited

  partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CENTRO NP HANOVER SQUARE SC, LLC, a
  Delaware limited

  liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NEW PLAN ACQUISITION COMPANY, LLC, a
  Delaware

  limited liability company

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Centro NP Residual Holding LLC, a Delaware
  limited

  liability company, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HK NEW PLAN SKYWAY PLAZA, LLC, a Delaware
  limited

  liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Centro NP Residual Holding LLC, a Delaware
  limited

  liability company, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NEW PLAN EISENHOWER SQUARE SC, LLC, a
  Delaware

  limited liability company

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Centro NP Residual Holding LLC, a Delaware
  limited

  liability company, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
					

 

 

	
   

  	
  NEW PLAN EASTLAKE SC, LLC, a Delaware
  limited liability

  company

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Centro NP Residual Holding LLC, a Delaware
  limited

  liability company, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NEW PLAN CHASTAIN CORNERS SC, LLC, a
  Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Centro NP Residual Holding LLC, a Delaware
  limited

  liability company, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HK NEW PLAN EXCHANGE PROPERTY OWNER IV,
  LLC, a

  Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Centro NP Residual Holding LLC, a Delaware
  limited

  liability company, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HK NEW PLAN MACON CHAPMAN, LP, a Delaware
  limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  HK New Plan Macon Chapman TRS GP Company, a

  Delaware corporation, its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP Residual Holding LLC, a Delaware 

  limited liability company, its sole shareholder

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
   

  	
  Name: Steven Siegel

  
	
   

  	
   

  	
   

  	
  Title: Executive Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BPR SHOPPING CENTER, LLC, a Delaware
  limited liability

  company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
  Name: Steven Siegel

  
	
   

  	
  Title: Executive Vice President

  
							

 

 

	
  CONSENTED AND AGREED TO 

  THIS
  29 DAY OF MAY, 2008: 

  	
   

  
	
   

  	
   

  
	
  BANK
  OF AMERICA, N.A.

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Michael W. Edwards 

  	
   

  
	
   

  	
  Name: Michael W. Edwards 

  	
   

  
	
      Title: Senior Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}]]