Document:

Agreement of Purchase and Sale Agreement

 Exhibit 10.91 
 AGREEMENT OF PURCHASE AND SALE 
 This Agreement of Purchase and Sale (“Agreement”)
is made and entered into by and between Buyer and Seller. 
 RECITALS: 
 A. Defined terms are indicated by initial capital letters. Defined terms shall have the meaning set forth herein, whether or not such terms are used
before or after the definitions are set forth. 
 B. Buyer desires to purchase the Property and Seller desires to sell the Property, all upon
the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the mutual terms, provisions, covenants and
agreements set forth herein, as well as the sums to be paid by Buyer to Seller, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Buyer and Seller agree as follows: 
 ARTICLE 1. BASIC INFORMATION 
  
 1.1 Certain Basic Terms. The following defined terms shall have the meanings set forth below: 
 1.1.1 Seller. Evergreen/Bradville II, a California general partnership. 
 1.1.2 Buyer. KBS Goethe Road LLC, a Delaware limited liability company. 
 1.1.3 Purchase Price. The purchase price for the Property shall be Fifteen Million, Seven Hundred Fifty-Thousand Dollars
($15,750,000), subject to the adjustment and prorations at Closing as provided in this Agreement. 
 1.1.4 Deposit. One
Hundred Fifty Thousand Dollars ($150,000) (the “Earnest Money Deposit”), to be deposited in accordance with Section 3.1 below, plus interest earned on the Deposit prior to Closing. The term “Deposit”
shall refer to both the Earnest Money Deposit and the interest earned thereon. 
  

			
	1.1.5 Escrow Holder.	  	 Chicago Title Company (NBU)
 16969 Von Karman, Suite
200
 Irvine, CA 92606
 Attention: Joy Eaton
 Phone: (949) 263-0126
 Fax: (949) 263-0356

			
	 Title Company.
	  	 Chicago Title Insurance Company
 16969 Von Karman,
Suite 200
 Irvine, CA 92606
 Attention: John Premac and George
Bull
 Phone: (949) 263-0123
 Fax:
(949) 263-0356

  

			
	 1.1.6 Broker.
	  	 The Palmer Team, Inc.
 555 Capitol Mall, Suite
235
 Sacramento, CA 95814
 Attention: Russell Arnold

Phone: (916) 446-8762
 Fax: (916) 446-8708

 1.1.7 Effective Date. The date on which a duplicate original of this
Agreement, fully signed by Buyer and Seller and with Section 10.1 initialed by Buyer and Seller, and Sections 11.2 and 11.3 initialed by Buyer, has been delivered to Escrow Holder. Upon such receipt, Escrow Holder
shall execute and deliver to Buyer and Seller the Acceptance by Escrow Holder in the form attached hereto. Either party may terminate this Agreement at any time prior to the Effective Date, upon which termination, Escrow Holder shall return any
funds and documents theretofore deposited with Escrow Holder to the party depositing the same. 
 1.1.8 Contingency
Period. The period beginning on the Effective Date and ending 5:00 p.m. PDT on June 20, 2007. 
 1.1.9
Closing Date. June 26, 2007, subject to extension as provided in Section 7.2.2 below. 
 1.1.10 Reference
Date. The reference date of this Agreement is June 20, 2007. 
 1.2 Closing Costs. Closing costs for the Property shall be
allocated and paid as follows: 
  

			
	 Cost
	  	 Responsible Party

	Premium for CLTA Standard Coverage Owner’s Policy of Title Insurance required to be delivered pursuant to Section 5.5	  	Seller
		
	Premium for any costs of Title Policy attributable to ALTA Extended Coverage and any endorsements desired by Buyer	  	Buyer
		
	Costs of any revisions, modifications or re-certifications to the Survey	  	Buyer
		
	All Documentary Transfer Taxes	  	Seller
		
	Recording Fees	  	 Buyer 50%
 Seller 50%

  

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	 Cost
	  	 Responsible Party

	Any escrow fee charged by Escrow Holder for holding the Deposit or conducting the Closing	  	 Buyer 50%
 Seller 50%

		
	Real Estate Sales Commission to Broker	  	Seller
		
	All other closing costs, expenses, charges and fees not addressed above, not to exceed $1,000 in total	  	 Buyer 50%
 Seller 50%

		
	(The parties shall be responsible for their own legal fees.)	  	

 1.3 Notice Addresses: 
  

			
	 Buyer:
  
 KBS Goethe Road, LLC
 c/o KBS Capital Advisors LLC
 201 California Street, Suite 470
 San Francisco, CA 94111
 Attn: Peter F. Mette
 Phone: (415) 962-0190
 Fax: (415) 962-0188
	  	 Copy to:
  
 Morgan Lewis & Bockius
 5 Park Plaza, Suite 1750
 Irvine, CA 92614
 Attn: L. Bruce Fischer
 Phone: (949) 399-7145
 Fax: (949) 399-7001

		
	 Seller:
  
 Evergreen/Bradville II
 Attn: Eva Hill
 c/o Acorn Asset Management
 2500 Venture Oaks Way, Suite 175
 Sacramento, CA 95833
 Phone: (916) 263-0222
 Fax:
(916) 263-0225
	  	 Copy to:
  
 David Krotine
 McDonough Holland & Allen PC
 555 Capitol Mall, Ninth Floor
 Sacramento, CA 95814
 Phone: (916) 444-3900
 Fax: (916) 444-5918

 ARTICLE 2. PROPERTY 
 2.1 Agreement. Subject to the terms and conditions of this Agreement, Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller,
the following: 
 2.1.1 Real Property. Approximately 4.7349 acres of land referred to as Assessors Parcel
No. 067-0170-029-0000, commonly known as 9815 Goethe Road, Sacramento, California, and more particularly described on Exhibit A attached hereto (the “Land”), together with (i) the improvements located
thereon, (ii) all and singular the rights, benefits, privileges, easements, tenements, hereditaments, and appurtenances thereon or in anywise appertaining thereto, and (iii) without warranty, all right, title, and interest of Seller, if
any, in and to all strips and gores and any land lying in the bed of any street, road or alley, open or proposed, adjoining such Land (collectively, the “Real Property”). 
  

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 2.1.2 Tangible Personal Property. All of Seller’s right, title and interest,
without warranty (except warranty of title), in any tangible personal property, if any, owned by Seller and used in connection with the operation, ownership or management of the Property, but specifically excluding any items of personal property
owned by third parties and leased to Seller (collectively, the “Tangible Personal Property”). 
 2.1.3
Intangible Personal Property. All of Seller’s right, title and interest, if any, without warranty, in all intangible personal property related to the Property including, without limitation, all to the extent assignable: any contract
rights related to the operation or management of the Property, if any, to the extent scheduled in Exhibit B attached hereto (collectively, the “Service Contracts”) (but Seller’s right, title and interest therein shall
only be assigned to the extent Seller’s obligations thereunder are expressly assumed by Buyer pursuant to Section 4.7 of this Agreement); any governmental permits, approvals, guarantees, warranties and licenses, if any
(collectively, the “Intangible Personal Property”). 
 2.1.4 Lease. All of Seller’s right, title
and interest in and to that certain lease (the “Lease”) with the State of California, acting through the Department of General Services for the Economic Development Department (EDD) dated August 24, 2005, as amended.

 The Real Property, Tangible Personal Property, Intangible Property and the Lease are collectively referred to as the “Property.”

 ARTICLE 3. DEPOSIT 
 3.1 Deposit and Investment of Deposit. Within three (3) business days after the Effective Date, Buyer shall deposit the Earnest Money Deposit with Escrow Holder. Escrow Holder shall invest the Deposit in an interest-bearing
account satisfactory to Seller and Buyer and shall promptly provide Buyer and Seller with confirmation of receipt of the Deposit. Buyer accepts all risks with regard to such account. 
 3.2 Form; Failure to Deposit. The Deposit may be in the form of a certified or cashier’s check or wire transfer to Escrow Holder of
immediately available U.S. federal funds. If Buyer fails to timely deposit any portion of the Deposit within the time periods required, Seller may terminate this Agreement by written notice to Buyer, in which event the parties hereto shall have
no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof. 
 3.3
Disposition of Deposit. The Deposit shall be applied as a credit to the Purchase Price at Closing. However, if Buyer does not deliver to Seller and Escrow Holder the Property Approval Notice prior to the expiration of the Contingency Period
pursuant to Section 4.5, or if prior thereto Buyer elects in writing to terminate this Agreement in a notice delivered to Seller and Escrow Holder or if the purchase and sale contemplated by this Agreement fails to close for any reason
other than Buyer’s failure to purchase the Property in accordance with the terms of this Agreement, this Agreement shall terminate and Escrow Holder shall refund to Buyer the Earnest Money Deposit less Buyer’s share of any escrow
cancellation fees to Buyer within three 
  

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business days following such termination. No notice to Escrow Holder from Seller shall be required for the release of the Earnest Money Deposit to Buyer by
Escrow Holder if Buyer fails to deliver the Property Approval Notice pursuant to Section 4.5. In the event of a termination of this Agreement by either Seller or Buyer for any reason other than pursuant to Section 4.5, Escrow
Holder is authorized to deliver the Deposit to the party hereto entitled to same pursuant to the terms hereof on the 10th business day following receipt by Escrow Holder and the non-terminating party of written notice of such termination from
the terminating party, unless the other party hereto notifies Escrow Holder that it disputes the right of the other party to receive the Deposit. In such event, Escrow Holder may interplead the Deposit into a court of competent jurisdiction in the
county in which the Deposit has been deposited. All attorneys’ fees and costs and Escrow Holder’s costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Deposit, or if
the Deposit is distributed in part to both parties, then in the inverse proportion of such distribution. Except as expressly provided in this Agreement to the contrary, the Deposit shall become nonrefundable on the first day following the end of the
Contingency Period and shall remain the property of Seller. 
 ARTICLE 4. DUE DILIGENCE 
 4.1 Due Diligence Materials. 
 (a) To assist Buyer with Buyer’s due diligence, within two (2) business days after the Effective Date, Seller shall deliver or make available to Buyer those documents listed on Exhibit C attached hereto relating to the
Property to the extent possessed by Seller and not already delivered to Buyer (“Property Information”). In addition, following at least 24 hours’ prior telephone or written notice from Buyer to Seller, Seller agrees to
allow Buyer, its authorized agents or representatives, at Buyer’s expense, to inspect at the office of Seller and/or Seller’s property manager, and make copies of any other documents and property records (other than the Excluded Documents,
as defined below) relating exclusively to the ownership, operation and maintenance of the Property, but only if and to the extent such documents and property records are in Seller’s or Seller’s property manager’s possession
(“Additional Property Information”). All of such Property Information and Additional Property Information made available to, copied and/or reviewed by Buyer pursuant to this Section 4.1 (including Service Contracts and
Buyer’s 3-14 Audit Documents, as defined in Section 4.1(b)) shall sometimes be referred to collectively herein as the “Property Documents”. Notwithstanding anything in this Section 4.1 to the contrary,
Seller shall have no obligation to make available to Buyer, and Buyer shall have no right to inspect or make copies of, any of the Excluded Documents. As used herein, “Excluded Documents” shall mean any documents involving either
Seller’s financing or refinancing of the Property, any purchase and escrow agreements and correspondence pertaining to Seller’s acquisition of the Property (other than documents pertaining to the physical or environmental condition of the
Property), any documents pertaining to the potential acquisition of the Property by any past or prospective purchasers (other than documents relating to the physical or environmental condition of the Property), any third party purchase inquiries and
correspondence, appraisals of the Property, internal budgets or financial projections, any other internally prepared documents (other than documents consisting of correspondence or notices to and from the tenants or documents relating to the
physical or environmental condition of the Property) and any information or correspondence protected by attorney-client privilege. Buyer hereby acknowledges receipt of a statutory Natural Hazard Disclosure Statement in the form attached hereto as
Exhibit D, and California Tax Disclosure Statement in the form attached hereto as Exhibit E. 
  

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 (b) Buyer has informed Seller that Buyer is required by law to complete with respect to
certain matters relating to the Property an audit commonly known as a “3-14” Audit (“Buyer’s 3-14 Audit”). In connection with the performance of Buyer’ 3-14 Audit, Seller shall during the Contingency Period
deliver to Buyer or make available to Buyer at the offices of Seller or Seller’s property manager, concurrently with the delivery of the Property Information or Additional Property Information, (i) the documents which are described on
Exhibit I attached hereto, to the extent in existence and in Seller’s possession (collectively, “Buyer’s 3-14 Audit Documents”) and (ii) provide to Buyer in written form, answers to such questions relating
to the Property which are set forth in Exhibit I, to the extent such information is in existence and in Seller’s possession or Seller’s property manager’s possession. 
 The originals (and where originals are not available or in Seller’s possession or Seller’s property manager’s possession, copies) of all Property
Documents shall become the property of Buyer upon Closing. Upon Closing, or at any time thereafter after notice to Buyer, Seller may retain or make copies of any Property Documents at Seller’s sole cost and expense. 
 4.2 Intentionally Omitted. 
 4.3
Physical Due Diligence. Prior to the Effective Date and continuing through the Closing (or earlier termination of this Agreement), Buyer has had and shall continue to have reasonable access to the Property at all reasonable times during
normal business hours, for the purpose of conducting reasonably necessary tests, including surveys and architectural, engineering, geotechnical and environmental inspections and tests, provided that (i) Buyer must give Seller two business
days’ prior telephone or written notice of any such inspection or test, and with respect to any intrusive inspection or test (e.g., core sampling) must obtain Seller’s prior written consent (which consent may not be unreasonably withheld
to the extent such consent is for Phase II testing although Seller’s consent may be withheld in its discretion for any other intrusive testing that may potentially exacerbate any existing condition on the Property, including, without
limitation, any groundwater testing or any other testing procedure that may pierce an aquifer, (ii) Buyer must provide Seller with proposed boring or testing locations in advance, plus a complete copy of the Phase I report recommending
such Phase II testing, and copies of the final Phase II report, (ii) Buyer must provide Seller with proposed boring or testing locations in advance, plus a complete copy of the Phase I report recommending such Phase II
testing, and copies of the final Phase II report, (iii) all such tests shall be conducted by Buyer in compliance with Buyer’s responsibilities set forth in Section 4.10 below; and (iv) prior to performing any
inspection or test, Buyer must deliver a certificate of insurance to Seller evidencing that Buyer has in place reasonable amounts of comprehensive general liability insurance and workers compensation insurance for its activities (and those
activities of its contractors, agents and representatives) on the Property in terms and amounts reasonably satisfactory to Seller covering any accident arising in connection with the presence of Buyer, its contractors, agents and representatives on
the Property, which insurance shall name Seller and Buyer as additional insured thereunder. Buyer shall bear the cost of all such inspections or tests and shall be responsible for and act as the generator with respect to any wastes generated by
those tests. Subject to the provisions of Section 4.8 hereof, Buyer or Buyer’s representatives may 
  

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meet with any governmental authority for any good faith, reasonable purpose in connection with the transaction contemplated by this Agreement; provided,
however, Buyer must contact Seller at least two business days in advance by telephone or fax to inform Seller of Buyer’s intended meeting and to allow Seller the opportunity to attend such meeting if Seller desires; provided further, however,
Buyer shall have the right (without Seller’s approval) to call any governmental authority and make inquiries regarding the Property. Buyer acknowledges and agrees that the purchase and sale contemplated by this Agreement is to be on an entirely
as-is basis, without any representation or warranty by Seller except as expressly set forth in Section 9.1 below. 
 During the Contingency
Period, (a) Seller shall make available to Buyer for interviews regarding the Property, Seller’s personnel and Seller’s property manager and (b) Buyer shall have the right to interview the tenant leasing space in the Property. In
accordance with Section 11.2 below, any statements that such persons may make to Buyer shall not be considered Seller’s Representations or Warranties under this Agreement. 
 4.4 Estoppel Letter. Within 2 business days after the Effective Date, Seller shall submit to the tenant under the Lease for signature a tenant
estoppel letter (the “Tenant Estoppel Letter”)in the form attached hereto as Exhibit L and made a part hereof. Seller shall use commercially reasonable efforts to obtain such executed Tenant Estoppel Letter from the
tenant under the Lease prior to the Closing Date. 
 4.5 Due Diligence/Property Approval Notice. Buyer shall have through the last day
of the Contingency Period in which to (i) examine, inspect, and investigate the Property Documents and the Property and, in Buyer’s sole and absolute judgment and discretion, determine whether the Property (including the condition of title
to the Property, as described in Section 5.3) is acceptable to Buyer, (ii) make satisfactory financing arrangements, and (iii) satisfy all other contingencies of Buyer. Notwithstanding anything to the contrary in this
Agreement, Buyer shall be deemed to have elected to terminate this Agreement unless Buyer, in Buyer’s sole discretion, approves the condition of the Property by giving written notice to Seller and Escrow Holder of such approval (the
“Property Approval Notice”) on or before the last day of the Contingency Period. If Buyer does timely give the Property Approval Notice, this Agreement shall continue in full force and effect, Buyer shall be deemed to have waived
all rights to terminate this Agreement under this Section 4.5, and Buyer shall be deemed to have acknowledged that it has received or had access to all Property Documents and conducted all inspections and tests of the Property that it
considers important. 
 4.6 Return of Documents and Reports. If this Agreement terminates for any reason (or is deemed to have
terminated due to Buyer’s failing to timely deliver the Property Approval Notice) other than Seller’s default hereunder, Buyer shall promptly return and/or deliver to Seller all Property Documents and copies thereof. Additionally, if this
Agreement terminates for any reason other than Seller’s default, then Buyer must deliver to Seller copies of all third party reports, investigations and studies, other than economic analyses (collectively, the “Reports”
and, individually, a “Report”) prepared for Buyer in connection with its due diligence review of the Property. The Reports shall be delivered to Seller without any representation or warranty as to the completeness or accuracy of the
Reports or any other matter relating thereto, and Seller shall have no right to rely on any Report without the written consent of the party preparing same. Buyer’s obligation to deliver the Property Documents and the Reports to Seller shall
survive the termination of this Agreement. 
  

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 4.7 Service Contracts. On or prior to the last day of the Contingency Period, Buyer will advise
Seller in writing of which Service Contracts it will assume and for which Service Contracts Buyer requests that Seller deliver written termination at or prior to Closing, provided Seller shall have no obligation to terminate, and Buyer shall be
obligated to assume, any Service Contracts which by their terms cannot be terminated without penalty or payment of a fee. Seller shall deliver at Closing notices of termination of all Service Contracts that are not so assumed. Buyer must assume the
obligations arising from and after the Closing Date under those Service Contracts (i) that Buyer has agreed to assume, or that Buyer is obligated to assume pursuant to this Section 4.7, and (ii) for which a termination notice
is delivered as of or prior to Closing but for which termination is not effective until after Closing. Notwithstanding the foregoing, Seller shall terminate at Closing, and Buyer shall not assume, any property management or leasing agreement
affecting the Property. 
 4.8 Proprietary Information; Confidentiality. Buyer acknowledges that the Property Documents are
proprietary and confidential and will be delivered to Buyer or made available for Buyer’s review solely to assist Buyer in determining the feasibility of purchasing the Property. Buyer shall not use the Property Documents for any purpose other
than as set forth in the preceding sentence. Prior to the Closing, Buyer shall not disclose the contents of the Property Documents to any person other than as required by law and other than to those persons who are responsible for determining the
feasibility of Buyer’s acquisition of the Property and who have agreed to preserve the confidentiality of such information as required hereby (collectively, “Permitted Outside Parties”). Buyer shall not divulge the contents of
the Property Documents and other information except in strict accordance with the confidentiality standards set forth in this Section 4.8. In permitting Buyer to review the Property Documents or any other information, Seller has not
waived any privilege or claim of confidentiality with respect thereto, and no third party benefits or relationships of any kind, either express or implied, have been offered, intended or created. 
 Notwithstanding the foregoing, nothing contained herein shall impair Buyer’s (or its permitted assignee’s) right to disclose information relating to this
Agreement or the Property (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 Buyer or its permitted assignees,
(b) in connection with any filings (including any amendment or supplement to any S-11 filing) with governmental agencies (including the SEC) by any REIT holding an interest (direct or indirect) in any permitted assignee of Buyer, and
(c) to any broker/dealers in the REIT’s broker/dealer network and any of the REIT’s investors. Buyer shall indemnify, defend and hold Seller, its partners, officers and directors harmless from any and all claims that may arise from
Buyer’s (or its permitted assignee’s) disclosure of such information to such third parties to the extent a third party brings an action against Seller and/or Buyer concerning this Agreement or the Property by reason of a violation of
federal or state securities laws. 
 4.9 No Representation or Warranty by Seller. Buyer acknowledges that, except as expressly set
forth in this Agreement, Seller has not made and does not make any warranty or representation regarding the truth, accuracy or completeness of the Property Documents or the 

  

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source(s) thereof, or the Natural Hazard Disclosure Statement or the California Tax Disclosure Report. Buyer further acknowledges that some if not all of the
Property Documents were prepared by third parties other than Seller. Except for representations expressly made by Seller in Section 9.1 regarding Property Documents, Seller expressly disclaims any and all liability for representations or
warranties, express or implied, statements of fact and other matters contained in such information, or for omissions from the Property Documents, or in any other written or oral communications transmitted or made available to Buyer. Except for
representations expressly made in this Agreement, Buyer shall rely solely upon its own investigation with respect to the Property, including, without limitation, the Property’s physical, environmental or economic condition, compliance or lack
of compliance with any ordinance, order, permit or regulation or any other attribute or matter relating thereto. Seller has not undertaken any independent investigation as to the truth, accuracy or completeness of the Property Documents and are
providing the Property Documents or making the same available for Buyer’s review solely as an accommodation to Buyer. 
 4.10
Buyer’s Responsibilities. In conducting any inspections, investigations or tests of the Property and/or Property Documents, Buyer and its agents and representatives shall: (i) not interfere with the operation and maintenance of the
Property; (ii) not damage any part of the Property or any personal property owned or held by any third party; (iii) not injure or otherwise cause bodily harm to Seller or its agents, guests, invitees, contractors and employees;
(iv) comply with all applicable laws; (v) promptly pay when due the costs of all tests, investigations, and examinations performed by Buyer with regard to the Property; (vi) not permit any liens to attach to the Property by reason of
the exercise of its rights hereunder; (vii) repair any damage to the Property resulting directly or indirectly from any such inspection or tests; and (viii) except as otherwise provided in Section 4.8 above, not reveal or
disclose prior to Closing any information obtained by Buyer prior to Closing concerning the Property and the Property Documents to anyone other than the Permitted Outside Parties, in accordance with the confidentiality standards set forth in
Section 4.8 above, or except as may be otherwise required by law. 
 4.11 Buyer’s Agreement to Indemnify. Buyer
indemnifies and holds Seller harmless from and against any and all liens, claims, causes of action, damages, liabilities and expenses (including reasonable attorneys’ fees) arising out of Buyer’s inspections or tests of the Property or any
violation of the provisions of Sections 4.3, 4.8 and 4.10; provided, however, the indemnity shall not extend to protect Seller from (a) any pre-existing liabilities for matters merely discovered by Buyer (e.g.,
latent environmental contamination) so long as Buyer’s actions are reasonable and not negligent, or (b) any loss arising solely from Seller’s own negligence or willful misconduct. Buyer’s obligations under this
Section 4.11 shall survive the termination of this Agreement and shall survive the Closing. 
 ARTICLE 5. TITLE AND SURVEY

 5.1 Title Report. Buyer has previously obtained a preliminary report covering the Property dated June 5, 2007 (Order
No. 07-31111172-KF) prepared by Title Company (the “PTR”) and legible copies of all documents of record referred to therein as exceptions to title to the Property (“Title Documents”). 
  

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 5.2 New or Updated Survey. Buyer may elect to obtain a new survey of the Real Property
(“Survey”), as necessary in order for the Escrow Holder to delete the survey exception from the Title Policy or to otherwise satisfy Buyer’s objectives; provided, however, in no event shall the issuance and/or receipt of such
Survey be a condition precedent to, or delay, Closing. 
 5.3 Title Review. During the Contingency Period, Buyer shall review title to
the Property as disclosed by the PTR and the Survey. All matters shown in the PTR, the Title Documents and the Survey (if any) which are not objected to by Buyer by delivery of written notice thereof (“Buyer’s Title Objection
Notice”) to Seller on or before five days prior to the expiration of the end of the Contingency Period shall be conclusively deemed to be accepted by Buyer. If Buyer timely delivers to Seller Buyer’s Title Objection Notice specifying
Buyer’s objection to any title exception pertaining to the Property shown in the PTR, the Title Documents and the Survey (if any) (each a “Title Objection” and collectively the “Title Objections”), Seller may,
but shall not be obligated to, eliminate or cure some or all of such Title Objections; provided, however, if Seller is able and willing to eliminate or cure some or all of such Title Objections, Seller shall notify Buyer in writing within
4 days of receipt of Buyer’s Title Objection (“Seller’s Notice Period”) of those Title Objections Seller intends to eliminate or cure (said notice hereinafter called “Seller’s Title Notice”) and
in which case the elimination or curing by Seller of the Title Objections specified by Seller for cure or elimination in Seller’s Title Notice shall be completed on or before the Closing Date. If Seller does not deliver Seller’s Title
Notice to Buyer within Seller’s Notice Period, Buyer is deemed to be notified that Seller is unable or unwilling to eliminate or cure the Title Objections. If Seller (i) does not timely deliver Seller’s Title Notice or
(ii) notifies or is deemed to have notified Buyer that Seller is unable or unwilling to cure any particular Title Objection, Buyer shall be deemed to have elected to accept all Title Objections other than those which Seller, in Seller’s
Title Notice, has agreed to eliminate or cure. Buyer may also decline to deliver the Property Approval Notice prior to the expiration of the Contingency Period if Buyer objects to Seller’s Title Notice. Notwithstanding the foregoing provisions
of this Section 5.3 to the contrary, Buyer and Seller acknowledge that although Seller has no obligation (unless specifically set forth in Seller’s Title Notice) to cure any title matters, subject to Buyer’s full performance
under this Agreement, Seller does agree to deliver title to the Property at Closing free and clear of (x) liens of the deeds of trust and/or mortgages created by, under or through Seller, or any mechanic’s liens, financing statements,
liens for delinquent taxes and delinquent assessments, which liens Seller shall cause to be released at or prior to Closing (with Seller having the right to apply the Purchase Price or a portion thereof for such purpose), and Seller further agrees
to remove any title exceptions or encumbrances to title which are voluntarily created by, under or through Seller after the Effective Date without Buyer’s consent (if requested, such consent shall not be unreasonably withheld or delayed). The
current installment of property taxes and assessments shall be pro-rated at Closing and Seller shall not be required to retire or repay any assessment bonds encumbering the Property. 
 5.4 Permitted Exceptions. The term “Permitted Exceptions” shall mean: the specific exceptions listed in the PTR that the Escrow
Holder has not agreed to remove from the PTR as of the end of the Contingency Period and that Seller is not required to remove as provided in Section 5.3 above; matters created by, through or under Buyer after the Effective Date; items
shown on the Survey which have not been removed as of the end of the Contingency Period; and real estate taxes not yet due and payable. 
  

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 5.5 Delivery of Title Policy at Closing. In the event that the Escrow Holder does not cause the
Title Company to issue at Closing, or unconditionally commit at Closing to issue, to Buyer, an ALTA extended coverage owner’s title policy in accordance with the PTR, insuring Buyer’s title to the Property in the amount of the Purchase
Price, subject only to the standard exceptions and exclusions from coverage contained in such policy and the Permitted Exceptions (the “Title Policy”), Buyer shall have the right to terminate this Agreement, in which case the
Deposit shall be immediately returned to Buyer and the parties hereto shall have no further rights or obligations, other than those that by their terms survive the termination of this Agreement. 
 Notwithstanding the foregoing or anything else stated to the contrary herein, if Buyer obtains from Title Company a form of title commitment acceptable to Buyer prior to
the expiration of the Contingency Period that does not set forth any requirements on Seller that are inconsistent with the terms of this Agreement, then, the form of Title Policy that shall be delivered to Buyer at Closing as provided in this
Section 5.5 shall be the form of title policy provided for in such title commitment, together with all endorsements attached thereto. 
 ARTICLE 6. OPERATIONS AND RISK OF LOSS 
 6.1 Ongoing Operations. From the Effective Date through Closing:

 6.1.1 Service Contracts. Seller will perform its material obligations under any Service Contracts. 
 6.1.2 New Contracts. Seller will not enter into any contract that will be an obligation affecting the Property subsequent to the
Closing, except contracts entered into in the ordinary course of business that are terminable without cause and without the payment of any termination penalty on not more than 30 days’ prior notice. 
 6.1.3 Maintenance of Improvements; Removal of Personal Property. Subject to Sections 6.2 and 6.3, Seller
shall maintain all improvements, if any, substantially in their present condition (ordinary wear and tear and casualty excepted) and in a manner consistent with Seller’s maintenance of the improvements during Seller’s period of ownership.
Seller will not remove any Tangible Personal Property except as may be required for necessary repair or replacement, and replacement shall be of approximately equal quality and quantity as existed as the removed item of Tangible Personal Property.

 6.1.4 Lease Amendments. Seller shall not modify, renew or terminate the existing Lease without Buyer’s consent,
which consent may be withheld in Buyer’s sole and absolute discretion. 
 6.1.5 Insurance. All insurance policies
carried by Seller with respect to the Property and in effect as of the Effective Date shall remain in effect until Closing. 
 6.1.6 No Further Encumbrance. From and after the Effective Date, Seller shall not alienate, lien, encumber or otherwise transfer all or any interest in the Property (other than to Buyer at Closing). 

 11 

 6.1.7 No Marketing. From and after the Effective Date, Seller shall not market,
solicit, negotiate, or enter into any agreement with any party other than Buyer for the sale or transfer of any interest in the Property. 
 6.1.8 Future Notices. Seller shall promptly deliver to Buyer any written notices it may hereafter receive from time to time that, if not delivered to Buyer, would cause the representations and warranties set
forth in Section 9.1 herein to be untrue in any material respect if made by Seller after Seller’s receipt of any such notices. 
 6.2 Damage to Property. Buyer shall be bound to purchase the Property for the full Purchase Price as required by the terms hereof, without regard to the occurrence or effect of any damage to the Property (in which case the damage
shall be repaired by Seller prior to Closing and/or any remaining insurance proceeds shall be assigned to Buyer at Closing and Buyer shall receive a credit at Closing for Seller’s deductible amount and the amount of any uninsured loss),
provided the damage is not Material (as hereinafter defined). For purposes hereof, damage shall be considered “Material” if: (i) the cost to repair any such damage exceeds five percent (5%) of the Purchase Price and
Seller, at its sole option, does not elect to repair the same prior to the Closing; (ii) the damage causes access to the Property to be permanently adversely affected; (iii) the damage results in the Property violating any laws (including
required parking ratios because of the loss of parking spaces) or failing to comply with zoning or any covenants, conditions or restrictions affecting the Property; or (iv) the damage entitles the tenant to terminate its Lease or abate rent
(unless Seller pays the difference, through insurance or otherwise). If any such damage is Material, then Buyer may, at its option to be exercised by written notice to Seller within ten (10) days after Seller’s notice to Buyer of the
occurrence of the damage (and if necessary the Closing Date shall be automatically extended to give Buyer the full 10-day period to make such election), either (i) elect to terminate this Agreement, in which case the Deposit shall be returned
to Buyer and neither party shall have any further rights or obligations under this Agreement, except for those rights or obligations which expressly state that they shall survive termination of this Agreement, or (ii) consummate the purchase of
the Property for the full Purchase Price as required by the terms hereof, subject to the assignment of insurance proceeds and/or credits against the Purchase Price provided above including a credit for any uninsured loss. If Buyer fails to give
Seller notice within such 10-day period, then Buyer will be deemed to have elected to terminate this Agreement. 
 6.3 Condemnation.
If proceedings in eminent domain are instituted with respect to the Property or any Substantial Portion thereof, then Buyer may, at its option, by written notice to Seller given within 10 days after Seller notifies Buyer of such proceedings
(and if necessary the Closing Date shall be automatically extended to give Buyer the full 10-day period to make such election), either: (i) terminate this Agreement, in which case the Deposit shall be immediately returned to Buyer and the
parties hereto shall have no further rights or obligations, other than those that by their terms survive the termination of this Agreement, or (ii) proceed under this Agreement, in which event Seller shall, at the Closing, assign to Buyer its
entire right, title and interest in and to any condemnation award, and Buyer shall have the sole right after the Closing to negotiate and otherwise deal with the condemning authority in respect of such matter. If Buyer does not give Seller written
notice of its election within the time required above, then Buyer shall be deemed to have elected to terminate this Agreement. For purposes of this Section 6.3, a “Substantial Portion” of the Property shall be deemed to mean
one which 

  

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(w) relates to the taking or permanent closing of any right of access to the Property, (x) involves more than the equivalent of $250,000 in value,
(y) the condemnation entitles the tenant to terminate its Lease or abate rent (unless Seller pays the difference, through an assignment of award proceeds or otherwise), or (z) results in the Property violating any laws or failing to comply
with zoning or any covenants, conditions or restrictions affecting the Property (including required parking ratios because of the loss of parking spaces). If the taking does not involve the taking of a Substantial Portion of the Property, then all
condemnation awards shall be assigned to Buyer or credited to Buyer at Closing. 
 ARTICLE 7. CLOSING 
 7.1 Closing. The consummation of the transaction contemplated herein (“Closing”) shall occur on the applicable Closing Date at
the offices of Escrow Holder (or such other location as may be mutually agreed upon by Seller and Buyer). Funds shall be deposited into and held by Escrow Holder in a closing escrow account with a bank satisfactory to Buyer and Seller. Upon
satisfaction or completion of all closing conditions and deliveries, the parties shall direct Escrow Holder to immediately record and deliver the closing documents to the appropriate parties and make disbursements according to the closing statements
executed by Seller and Buyer. 
 7.2 Conditions to Parties’ Obligation to Close. In addition to all other conditions set forth
herein, the obligation of Seller, on the one hand, and Buyer, on the other hand, to consummate the transactions contemplated hereunder are conditioned upon the following: 
 7.2.1 Conditions Precedent to Buyer’s Performance. 
 7.2.1.1 Representations and Warranties. The Seller’s representations and warranties contained herein shall be true and correct
in all material respects as of the date of this Agreement and the Closing Date, subject to Section 9.3; 
 7.2.1.2
Deliveries. As of the Closing Date, the Seller shall have tendered all deliveries to be made at Closing; 
 7.2.1.3
Actions, Suits, etc. There shall exist no pending actions, suits, arbitrations, claims, attachments, proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings, actually filed against
the Seller that would (i) prevent the Seller from performing its obligations under this Agreement, or (ii) except for any matters disclosed to Buyer in the Property Documents, materially and adversely affect the operation or value of the
Property; 
 7.2.1.4 No Default of Covenant or Agreement. Seller shall not be in material default of any material
covenant or agreement contained in this Agreement; 
 7.2.1.5 Title Policy. Escrow Holder shall have caused the Title
Company to commit to issue to Buyer at Closing the Title Policy contemplated in Section 5.5; and 
 7.2.1.6 No
Material Changes. As of the Closing Date, and subject to Section 6.2 and Section 6.3, there shall have been no material adverse changes since the expiration of the Contingency Period in the physical condition of the
Property or the operating 

  

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condition of any building systems or equipment serving the Property, ordinary wear and tear excepted; provided, however, that the foregoing shall not apply
to any repairs or replacements of the building’s HVAC system. 
 7.2.1.7 Tenant Estoppel Letter. Buyer shall have
received, no less than one (1) business day prior to the Closing Date, the fully executed Tenant Estoppel Letter substantially in the form of that attached hereto as Exhibit L and made a part hereof, not disclosing the existence of
any default under the Lease. (Seller has obtained the Tenant Estoppel Letter and agrees to pay for or reimburse Buyer outside of escrow for the cost of the nine sets of blinds noted therein.) 
 7.2.1.8 Amendments to CC&R’s and Easement Agreement. With respect to that certain 
 (a) Easement Agreement dated as of December 29, 1989, and recorded December 29, 1989, as Instrument No. 8912294972 in the
Official Records (“Official Records”) of Sacramento County, California (“Easement Agreement”), and encumbering the Property, Seller has provided Buyer with written evidence reasonably satisfactory to Buyer (which Buyer may
require to be in the form of a signed amendment to the Easement Agreement that is recorded in the Official Records) that (i) the easements covering the Reciprocal Easement Area (as such term is defined in the Easement Agreement) have been
terminated and are no longer in effect, and (ii) the Lot 7 Drive Easement and the Lot 8 Drive Easement (as such terms are defined in the Easement Agreement) are to be used for ingress and egress only and that any easements for parking
purposes have been terminated; and 
 (b) Declaration of Covenants, Conditions, Restrictions and Easements recorded
July 7, 1993, as Instrument No. 9307071403 in the Official Records (the “1993 CC&R’s”), and encumbering the Property, Seller has provided Buyer with written documentation reasonably satisfactory to Buyer (which Buyer may
require to be in the form of a signed amendment to the 1993 CC&R’s that is recorded in the Official Records) that (i) the maintenance obligations of the Parcel 7 Owner (as such term is defined in the 1993 CC&R’s ) under
Section 4.04(D) of the 1993 CC&R’s have been terminated and that the Parcel 7 Owner no longer has any maintenance obligations under Section 4.04(D) of the 1993 CC&R’s, and (ii) the Easements over the Entryways
and Traffic Areas (as such terms are defined in the 1993 CC&R’s) created under Section 3.01 of the 1993 CC&R’s are to be used for ingress and egress only and that any easements for parking purposes have been terminated.

 7.2.2 Conditions Precedent to Seller’s Performance. 
 7.2.2.1 Representations and Warranties. The Buyer’s representations and warranties contained herein shall be true and correct
in all material respects as of the date of this Agreement and the Closing Date, subject to Section 9.3; 
 7.2.2.2
Deliveries. As of the Closing Date, Buyer shall have tendered all deliveries to be made at Closing; 
 7.2.2.3
Actions, Suits, etc. There shall exist no pending actions, suits, arbitrations, claims, attachments, proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings, actually filed against
the Buyer that would prevent the Buyer from performing its obligations under this Agreement; and 
  

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 7.2.2.4 No Default of Covenant or Agreement. Buyer shall not be in material
default of any material covenant or agreement contained in this Agreement. 
 So long as a party is not in default hereunder, if any
condition to such party’s obligation to proceed with the Closing hereunder has not been satisfied as of the Closing Date (or such earlier date as is provided herein), such party may, in its sole discretion, terminate this Agreement by
delivering written notice to the other party on or before the Closing Date, or elect to close notwithstanding the non-satisfaction of such condition, in which event such party shall be deemed to have waived any such condition. In the event such
party elects to close, notwithstanding the non-satisfaction of such condition, said party shall be deemed to have waived said condition, and there shall be no liability on the part of any other party hereto for breaches of representations and
warranties of which the party electing to close had knowledge at the Closing. Notwithstanding anything herein to the contrary, it shall not be a condition to Closing that Seller shall have obtained the signed amendment of the 1993 CC&R’s
contemplated in Section 7.2.1.8(b), and (i) unless such conditions to Closing have been waived by Buyer, the Closing Date may be extended by Seller for up to an additional 30 days to allow Seller to obtain either or all of the Tenant
Estoppel Letter, the signed estoppel certificate with respect to the Easement Agreement contemplated in Section 7.3.9 and/or the signed amendment to the Easement Agreement contemplated in Section 7.2.1.8(a) (the “Seller
Deliverables”); provided once all of the Seller Deliverables (as applicable) are obtained by Seller, the Closing Date shall occur 5 business days after notice to Buyer; and (ii) if Buyer waives the condition(s) to Closing with
respect to all or any of the Seller Deliverables, then Seller shall use commercially reasonable efforts to obtain the Seller Deliverables, as well as the signed amendment of the 1993 CC&R’s contemplated in Section 7.2.1.8(b), as
applicable, for up to 30 days following the Closing Date. 
 7.3 Seller’s Deliveries in Escrow. As of or prior to the
Closing Date, Seller shall deliver in escrow to Escrow Holder the following: 
 7.3.1 Deed. A grant deed in the form of
Exhibit F attached hereto (the “Deed”) executed and acknowledged by Seller, conveying to Buyer Seller’s interest in the Property; 
 7.3.2 Bill of Sale, Assignment and Assumption. A Bill of Sale, Assignment and Assumption in the form of Exhibit G
attached hereto (the “Assignment”), executed by Seller, vesting in Buyer, without warranty, Seller’s right, title and interest in and to the property described therein; 
 7.3.3 Conveyancing or Transfer Tax Forms or Returns. Such conveyancing or transfer tax forms or returns, if any, as are required to
be delivered or signed by Seller by applicable state and local law in connection with the conveyance of the Property; 
 7.3.4
Non-Foreign Certificate. An affidavit as required by the Foreign Investors Property Tax Act, as amended, in the form of Exhibit H attached hereto, and an analogous affidavit pursuant to the California Revenue and Taxation Code
Section 18805, et seq., both executed by Seller; 
  

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 7.3.5 Authority. Evidence of the existence, organization and authority of Seller
and of the authority of the persons executing documents on behalf of Seller reasonably satisfactory to the underwriter for the Title Policy; 
 7.3.6 Tenant Notice. Notice to the tenant under the Lease for the Property, executed by Seller, advising them of the sale of the Property and directing them to make future lease payments to Buyer at the place
designated by Buyer and confirming the transfer of security deposits and interest thereon, signed by Seller, in the form attached hereto as Exhibit J; 
 7.3.7 Closing Certificate. A certificate executed by Seller certifying that all representations and warranties of Seller set forth
in this Agreement continue to be true, correct and complete in all material respects, subject to Section 9.3; 
 7.3.8 Owner’s Affidavit. An owner’s affidavit executed by Seller and any other documents, undertakings or agreements required by the Title Company to issue the Title Policy in accordance with the provisions of this
Agreement; 
 7.3.9 Covenants, Conditions and Restrictions. Subject to Section 7.2.2, estoppel certificates in the
form of Exhibit K attached hereto from the declarant, association, committee, agent and/or other person or entity having governing or approval rights, with respect to certain declarations of covenants, conditions and restrictions or
similar instruments (“CCRs”) governing or affecting the use, operation, maintenance, management or improvement of the Property; and 
 7.3.10 Additional Documents. Any additional documents that Escrow Holder may reasonably require for the proper consummation of the transaction contemplated by this Agreement (provided, however, no such
additional document shall expand any obligation, covenant, representation or warranty of Seller or result in any new or additional obligation, covenant, representation or warranty of Seller under this Agreement beyond those expressly set forth in
this Agreement). 
 7.4 Buyer’s Deliveries in Escrow. As of or prior to the Closing Date, Buyer shall deliver in escrow to Escrow
Holder the following: 
 7.4.1 Bill of Sale, Assignment and Assumption. The Assignment, executed by Buyer; 

7.4.2 Conveyancing or Transfer Tax Forms or Returns. Such conveyancing or transfer tax forms or returns, if any, as are required
to be delivered or signed by Buyer by applicable state and local law in connection with the conveyance of Property; and 
 7.4.3 Additional Documents. Any additional documents that Escrow Holder may reasonably require for the proper consummation of the transaction contemplated by this Agreement (provided, however, no such additional document shall expand
any obligation, covenant, representation or warranty of Buyer or result in any new or additional obligation, covenant, representation or warranty of Buyer under this Agreement beyond those expressly set forth in this Agreement). 
  

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 7.5 Closing Statements. As of or prior to the Closing Date, Seller and Buyer shall deposit with
Escrow Holder executed closing statements consistent with this Agreement in the form required by Escrow Holder. 
 7.6 Purchase Price.
On or before the Closing Date, Buyer shall deliver to Escrow Holder the Purchase Price, less the Deposit that is applied to the Purchase Price, plus or minus applicable prorations, in immediate, same-day U.S. federal funds wired for credit into
Escrow Holder’s escrow account, which funds must be delivered in a manner to permit Escrow Holder to deliver good funds to Seller or its designee on the Closing Date (and, if requested by Seller, by wire transfer) provided that all conditions
precedent set forth in Section 7.2.1 herein have been satisfied or waived by Buyer. In the event that Escrow Holder is unable to deliver good funds to Seller or its designee on the Closing Date, then the closing statements and related
prorations will be revised as necessary. 
 7.7 Possession. Seller shall deliver possession of the Property and Tangible Personal
Property to Buyer at the Closing. 
 7.8 Delivery of Books and Records. Within one (1) business day after the Closing, Seller
shall deliver to the offices of Buyer or Buyer’s property manager or to the Property to the extent in Seller’s or its property manager’s possession or control: lease and lease files; maintenance records and warranties; plans and
specifications; licenses, and permits; copies or originals of all papers or documents which pertain to the Property; all advertising materials; booklets; and other items, if any, used in the operation of the Property, and all keys for the Property.

 ARTICLE 8. PRORATIONS; DEPOSITS; COMMISSIONS 
 8.1 Prorations. At Closing, the following items shall be prorated as of the date of Closing with all items of income and expense for the Property being borne by Buyer from and after (but including) the date of
Closing: collected rents, fees and assessments; prepaid expenses and obligations under Service Contracts; accrued operating expenses; real and personal ad valorem taxes and assessments (“Taxes”); and any assessments by private
covenant for the then-current calendar year of Closing. Specifically, the following shall apply to such prorations (based on the periods to which they relate and are applicable, and regardless of when payable): 
 8.1.1 Rents. Rent for the month of, and any month after, Closing collected by Seller under the Lease prior to Closing shall be
apportioned as of the date of the Closing Date. Since the tenant pays rent in arrears under the terms of the Lease, then any rent received by the Buyer or Seller after the Closing Date that is applicable to the month of Closing shall be, following
receipt by the collecting party, be prorated based on the number of days the Property was owned by Seller and Buyer, respectively, during the month of Closing, and the portion payable to the non-collecting party shall be promptly paid to the
non-collecting party by the collecting party following receipt. Otherwise, if the tenant is delinquent in the payment of rent on the Closing Date, rents received from such tenant after the Closing shall be applied in the 

  

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following order of priority: (a) first, with respect to any rents which are no more than thirty (30) days in arrears at Closing (excluding any
current year base rent escalation or common area maintenance and real estate tax increases), to the payment of the rent due for the month of Closing apportioned between the parties based upon the Closing Date, (b) second, to the payment of
current rent then due; (c) third, to delinquent rent for any period after the Closing Date; and (d) fourth, to delinquent rent for any period prior to the Closing Date. Buyer does not guarantee or undertake any obligation to sue or take
other action for collection of arrearages in rents due from tenants as of the Closing Date. If rents or any portion thereof received by Seller or Buyer after the Closing Date are payable to the other party by reason of this allocation, the
appropriate sum, less a proportionate share of any reasonable attorneys’ fee, costs and expenses of collection thereof, shall be promptly paid to the other party, which obligation shall survive the Closing. To the extent that Seller has not
received all rents owed to Seller as of Closing, then, following the expiration of the six (6) month period immediately following the Closing, Seller shall have the right to sue any delinquent tenants for rents owed to Seller, provided,
however, that Seller shall not sue for eviction of the tenant or possession of the tenant’s leased premises and Buyer shall incur no expenses or liability in connection with cooperating with Seller’s lawsuit. 
 8.1.2 Taxes. If Taxes for the year of Closing are not known or cannot be reasonably estimated, Taxes shall be prorated based on
Taxes for the year prior to Closing, increased by two percent (2%). Any real property taxes and assessments arising out of the sale of the Property to Buyer (or its assignee) or a subsequent sale or change in ownership thereafter, and/or arising out
of any construction pertaining to the Property following the Closing, shall be paid by Buyer when assessed, and Buyer shall indemnify Seller from and against any all such Taxes, which indemnification obligation shall survive the Closing. 

8.1.3 Utilities. Buyer shall take all steps necessary to effectuate the transfer of all utilities to its name as of the Closing
Date, and where necessary, post deposits with the utility companies. Seller shall endeavor to have all utility meters read as of the Closing Date. Seller shall be entitled to recover any and all deposits held by any utility company as of the Closing
Date. 
 8.2 Capital Costs. Buyer shall be credited at Closing for all unsatisfied amounts for all capital contracts, contracts
pertaining to works of improvement or other contracts existing prior to Closing pertaining to the Property (regardless of when the work, services or other obligations were performed or are to be performed) (“Pre-Closing Capital
Costs”). Seller shall remain responsible for satisfying any Pre-Closing Capital Costs which were not credited to Buyer at Closing. Notwithstanding anything to the contrary in this Section 8.2, this provision shall not apply to
the contract referred to in Section 8.6.1 below or any contract that Seller may have to enter into prior to the Closing to replace the existing HVAC system so long as such contract has been approved by Buyer. 
 8.3 Closing Costs. Closing costs shall be allocated between Seller and Buyer in accordance with Section 1.2. 
 8.4 Final Adjustment After Closing. If final bills are not available or cannot be issued prior to Closing for any item being prorated under
Section 8.1, then Buyer and Seller agree to allocate such items on a fair and equitable basis as soon as such bills are available, final 

  

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adjustment to be made as soon as reasonably possible after the Closing; provided, however, such final adjustment shall be made by the date which is
6 months after the Closing. Payments in connection with the final adjustment shall be due within 30 days of written notice. All such rights and obligations shall survive the Closing. 
 8.5 Commission. As, if and when Closing occurs, Seller shall pay a commission to Broker pursuant to a separate agreement between Seller and
Broker. Broker represents only Buyer’s interests in the transactions contemplated in this Agreement. Other than as stated above in this Section 8.5, Seller and Buyer each represent and warrant to the other that no real estate
brokerage commission or finder’s fee is or shall be payable to any person or entity in connection with the transaction contemplated hereby other than to Broker, and each agrees to and does hereby protect, defend, indemnify and hold the other
harmless against the payment of any commission to any other person or entity claiming by, through or under Seller or Buyer, as applicable. This indemnification shall extend to any and all claims, liabilities, costs and expenses (including reasonable
attorneys’ fees and litigation costs) arising as a result of such claims and shall survive the Closing. 
 8.6 Obligations as to
Lease that Survive Closing. 
 8.6.1 Seller has entered into a contract with Airco Commercial Services Inc. dated
April 25, 2007, for the installation of a new cooling system based on 375,000 BTU per hour load in server room no. 207. Such work may not be completed prior to the Closing. The cost of the contracted work is to be reimbursed to the
landlord by the tenant of the Lease. To the extent the cost of such work is paid by Seller prior to the Closing, then Seller shall be entitled to recover such reimbursements from the tenant (or from Buyer, if tenant pays Buyer) following the
Closing. To the extent Buyer pays for the cost of such work following the Closing, then Buyer shall be entitled to reimbursement of such amounts from the tenant under the Lease. The provision of this Section 8.6.1 shall survive the
Closing. 
 8.6.2 Buyer acknowledges that the landlord under the Lease has a continuing obligation to provide shuttle service
to the employees of the tenant under the Lease, which obligation shall be assumed by Buyer at the Closing in connection with the assignment of the Lease. Seller currently provides shuttle service through an informal arrangement with SBT Investments,
Inc. (“SBT Investments”), an affiliate of Seller. SBT Investments is the holder of the requisite permit needed to provide shuttle transportation services, employs the driver, obtains insurance and leases the shuttle van. If Buyer is
unable to obtain the required permit to provide shuttle services prior to the Closing Date, then Seller agrees to cause SBT Investments to enter into a contract with Buyer effective as of the Closing Date to provide the same shuttle services for the
Property on behalf of Buyer for up to ninety (90) days following the Closing Date. Among other things, the contract shall provide that the shuttle services shall be provided to Buyer at SBT Investment’s cost to provide such services and
shall include a commercially reasonable indemnity in favor of SBT Investments and Seller to the extent either of them suffers damage that is not otherwise covered by insurance carried by SBT Investments. The form of agreement between SBT Investments
and Buyer shall be subject to the reasonable approval of both Buyer and SBT Investments and shall be completed prior to Closing. 
  

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 ARTICLE 9. REPRESENTATIONS AND WARRANTIES; BUYER’S COVENANTS 
 9.1 Seller’s Representations and Warranties. Seller represents and warrants to Buyer that: 
 9.1.1 Organization and Authority. Seller has been duly organized and is validly existing under the laws of the state of California.
Seller has the full right and authority and has obtained any and all consents required to enter into this Agreement and to consummate or cause to be consummated the transactions contemplated hereby. This Agreement has been, and all of the documents
to be delivered by Seller at the Closing will be, authorized and executed and constitute, or will constitute, as appropriate, the valid and binding obligation of Seller, enforceable in accordance with their terms. 
 9.1.2 Conflicts and Pending Action. There is no agreement to which Seller is a party or to Seller’s knowledge binding on
Seller which would prevent Seller from performing its obligations under this Agreement. Seller has not received any written notice that there is any action or arbitration, claim, suit, or any regulatory or other legal proceeding or investigation
pending or, to Seller’s knowledge, threatened against Seller which affects the Property or challenges or impairs Seller’s ability to execute or perform its obligations under this Agreement. Seller has not received any written notice of any
condemnation or eminent domain proceedings that are pending or, to the best of Seller’s knowledge, threatened against the Property or any part thereof, and Seller has made no commitments to and has received no notice, oral or written, of the
desire of any public authority or other entity to take or use the Property or any part thereof whether temporarily or permanently, for easements, rights-of-way, or other public or quasi-public purposes. 
 9.1.3 Compliance with Existing Laws; Disclosure of Possible Environmental Conditions. Except as set forth in this
Section 9.1.3. below, Seller has not received any currently effective written notice, and Seller has no knowledge, that it is in violation of, or has failed to comply with any and all applicable building, zoning, environmental or other
laws, codes, orders, ordinances, statutes or regulations of any governmental or quasi-governmental agency, in respect to the ownership, use, condition and operation of the Property. In addition to any other Environmental Condition that may be
further disclosed in the Property Documents delivered to Buyer, Seller discloses to Buyer the following: One or more plumes containing Hazardous Materials emanating from either the now-closed Mather Air Force Base (“Mather AFB”) or
the Aerojet plant have migrated into the groundwater below the Property, and other plumes from such locations may do so in the future. For the purposes hereof, “Environmental Condition” means any condition that may exist or have
existed with respect to soil, surface or ground waters, stream sediments, and every other environmental media, which condition could require investigation and/or remedial action of any kind under applicable federal, state or local statutes,
regulations or ordinances or which could result in claims, demands, orders or liabilities by or to third parties, including without limit governmental entities. As noted above, the Property is located in the vicinity of Mather AFB. Several
chlorinated solvent plumes (the “Contamination”) are known to exist in the groundwater under the Mather AFB and the Contamination has migrated to the groundwater underneath the Property. The United States Air Force is presently
monitoring and/or remediating the Contamination under the supervision of the United States Environmental Protection Agency (“EPA”) according to the EPA. Except as set 

  

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forth above or in the environmental reports or other information provided to or made available to Buyer in the Property Documents, Seller has not received
any written notice of any litigation, proceedings or investigations currently before any administrative agency with respect to Hazardous Materials from, on, about or under the Property. 
 9.1.4 Leases. There are no leases of any space in the Property, or to the Seller’s knowledge, any subleases of any space in
the Property, other than the Lease. Except as otherwise set forth in this Section 9.1.4 or elsewhere in this Agreement: 
 (a) to Seller’s knowledge, Seller has delivered a complete copy of the Lease to Buyer and the Lease is in full force and effect; 
 (b) all leasing commissions and tenant improvement costs payable by the landlord and applicable to the current term of the Lease (i.e.,
not any renewal or extension exercised or new lease entered into after the Effective Date) have been paid and no such costs are payable after Closing; and 
 (c) to Seller’s knowledge, Seller is not in default of any material obligations under any Lease, and Seller has not received a notice from the tenant of a current default on the part of the landlord under the
Lease, and no action or proceeding against Seller by the tenant is currently pending in any court of law. 
 9.1.5 Service
Contracts. Attached hereto as Exhibit B is a complete and correct list of all Service Contracts. All of the Service Contracts set forth on Exhibit B shall be terminated as of the Closing Date, unless Buyer notifies Seller
before the end of the Contingency Period that Buyer has elected to assume same and, as for any Service Contracts to be terminated, Seller shall give termination notice to such vendors under such Service Contracts other than those designated by Buyer
as a Service Contract to be assumed. Seller does not represent that such Service Contracts can be terminated, and if the vendor does not accept termination, the Buyer shall assume such Service Contracts at Closing. The Service Contracts exclude all
management and leasing brokerage agreements – all of which must be terminated by Seller on or before the Closing and will not be assumed by Buyer. 
 9.1.6 Condition of Property. Except for the representations and warranties set forth herein, Seller has made no representations and
warranties concerning the condition of the Property. Buyer acknowledges that it will inspect the condition of the Property during the Contingency Period. If Buyer closes on the Property, it will do so in reliance on its inspection, and not based on
any representations or warranties of the Seller, except as specifically set forth herein. 
 9.1.7 Property Documents.
Seller or Seller’s property manager has provided to Buyer or made available to Buyer all Property Documents in Seller’s possession, or in Seller’s property manager’s possession, relating to the physical condition of the Property.

  

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 9.2 Buyer’s Representations and Warranties. Buyer represents and warrants to Seller that:

 9.2.1 Organization and Authority. This Agreement has been, and all of the documents to be delivered by Buyer at the
Closing will be, authorized and properly executed and constitute, or will constitute, as appropriate, the valid and binding obligation of Buyer, enforceable in accordance with their terms. 
 9.2.2 Conflicts and Pending Action. There is no agreement to which Buyer is a party or to Buyer’s knowledge binding on Buyer
which is in conflict with this Agreement. There is no action or proceeding pending or, to Buyer’s knowledge, threatened against Buyer which challenges or impairs Buyer’s ability to execute or perform its obligations under this Agreement.

 9.3 General. 
 9.3.1 Survival. The provisions of this Section 9.3 shall survive the Closing. The representations and warranties set forth in this Article 9 are made as of the Effective Date, and shall not be deemed to be
merged into or waived by the instruments of Closing, but shall survive the Closing for a period of one year (the “Survival Period”). 
 (a) The representations in Section 9.1.1 and Section 9.2.1 shall be remade at Closing. 
 (b) It shall be a breach of this Agreement for a party to voluntarily take or authorize any action after the Effective Date of this Agreement which would cause a representation or warranty made by that party to become
untrue. Otherwise if a representation or warranty becomes untrue in any material respect prior to the Closing, and Buyer is advised or has actual knowledge of the changed circumstance such that Buyer is aware that the representation or warranty is
no longer true in all material respects, then Buyer may either terminate this Agreement by delivering written notice to Seller prior to the Closing, in which event the Deposit shall be returned to Buyer, or Buyer shall be deemed to have waived the
continued accuracy of the representation or warranty at Closing. 
 9.3.2 Knowledge. Terms such as “to
Seller’s knowledge,” “to the best of Seller’s knowledge” or like phrases mean that the representation or warranty is limited to the actual present and conscious awareness or knowledge of Eva Hill and Ray Gundlach, Jr.,
(the latter is the person employed by Evergreen Management Company, Seller’s property manager, with the day-to-day responsibility for managing the Property), without any duty of inquiry or investigation, either express or implied. Said terms do
not include constructive knowledge, or imputed knowledge. No broker (including Broker), agent, or party other than an authorized representative of Seller or one of the individuals named above is authorized to make any representation or warranty for
or on behalf of Seller, and no representation made even by an authorized representative of Seller or one of the individuals named above shall be effective unless such representation or warranty is expressly stated in this Agreement. 
 9.3.3 Liability/Limitation. Each party shall have the right to bring an action against the other on the breach of a representation
or warranty hereunder, but only on the following conditions: (i) the party bringing the action for breach first learns of the breach after Closing and files such action within the Survival Period; and (ii) neither party shall have the
right to bring a cause of action for a breach of a representation or warranty unless the damage to such 

  

 22 

 
party on account of such breach (individually or when combined with damages from other breaches) equals or exceeds $25,000. Neither party shall have any
liability after Closing for the breach of a representation or warranty hereunder of which the other party hereto had knowledge as of Closing. Furthermore, Buyer agrees that the post-Closing maximum liability of Seller for the alleged breach of any
or all representations or warranties set forth in this Agreement is limited to $500,000, but such shall not apply if it arises out of the provisions of Section 8.1 or Section 8.5 hereof or if the breach results in a judgment
against the breaching party for fraud by a court with jurisdiction over the breaching party. 
 9.3.4 Applicability.
Any breach of a representation or warranty that occurs prior to Closing shall be governed by Article 9. 
 ARTICLE 10. DEFAULT AND
REMEDIES 
 10.1 Seller’s Remedies. IF BUYER FAILS TO PURCHASE THE PROPERTY WHEN IT IS OBLIGATED TO DO SO UNDER THE TERMS
OF THIS AGREEMENT, SELLER SHALL BE ENTITLED, AS ITS SOLE REMEDY (EXCEPT AS PROVIDED IN SECTIONS 4.11, 8.5, 10.3 AND 10.4 HEREOF), TO TERMINATE THIS AGREEMENT AND RECOVER THE DEPOSIT AS LIQUIDATED DAMAGES AND NOT
AS PENALTY, IN FULL SATISFACTION OF CLAIMS AGAINST BUYER HEREUNDER. SELLER AND BUYER AGREE THAT SELLER’S DAMAGES RESULTING FROM BUYER’S DEFAULT ARE DIFFICULT, IF NOT IMPOSSIBLE, TO DETERMINE AND THE DEPOSIT IS A FAIR ESTIMATE OF THOSE
DAMAGES WHICH HAS BEEN AGREED TO IN AN EFFORT TO CAUSE THE AMOUNT OF SUCH DAMAGES TO BE CERTAIN. THE PARTIES ACKNOWLEDGE THAT THE PAYMENT OF SUCH LIQUIDATED DAMAGES IS NOT INTENDED AS A FORFEITURE OR PENALTY WITHIN THE MEANING OF CALIFORNIA CIVIL
CODE SECTIONS 3275 OR 3369, BUT IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLER PURSUANT TO CALIFORNIA CIVIL CODE SECTIONS 1671, 1676 AND 1677. 
 SELLER’S INITIALS:                     
                                        
    BUYER’S INITIALS:                      
 10.2 Buyer’s Remedies. If Closing fails to occur by reason of breach or default by Seller, or if prior to Closing any one or more of
Seller’s representations or warranties are breached in any material respect, Buyer shall elect, as its sole remedy, either to (i) terminate this Agreement by giving Seller timely written notice of such election prior to or at Closing and
recover the Deposit, together with Buyer’s out-of-pocket expenses not to exceed $50,000, (ii) enforce specific performance, or (iii) waive said failure or breach and proceed to Closing. Notwithstanding anything herein to the contrary,
Buyer shall be deemed to have elected to terminate pursuant to subsection (i), above, if Buyer fails to deliver to Seller written notice of its intent to file suit against Seller on or before 30 days following the scheduled Closing Date as
such may have been extended or, having given such notice, fails to file a lawsuit asserting such claim or cause of action in Sacramento County within 90 days following the scheduled Closing Date as such may have been extended. Buyer’s
remedies shall be limited to those described in this Section 10.2 and Sections 10.3 and 10.4 hereof. If, however, the equitable remedy of specific performance is not available, Buyer may seek any other right or
remedy available at law 
  

 23 

 
or in equity; provided, however, that in no event shall Seller’s liability exceed the lesser of (A) $100,000 or (B) the actual reasonable
out-of-pocket expenses incurred by Buyer and paid (1) to Buyer’s attorneys in connection with the negotiation of this Agreement and (2) to unrelated and unaffiliated third party consultants in connection with the performance of
examinations, inspections and/or investigations pursuant to Article 4. For purposes of this provision, specific performance shall be considered not available to Buyer only if a court of competent jurisdiction determines conclusively that
Buyer is entitled to specific performance on the merits of its claim but said court is unable to enforce specific performance due to reasons beyond the control of the court. 
 10.3 Attorneys’ Fees. In the event either party hereto employs an attorney in connection with claims by one party against the other arising
from the operation of this Agreement, the non-prevailing party shall pay the prevailing party all reasonable fees and expenses, including attorneys’ fees, incurred in connection with such transaction. 
 10.4 Other Expenses. If this Agreement is terminated due to the default of a party, then the defaulting party shall pay any escrow cancellation
fees or charges and any fees or charges due to the Escrow Holder for preparation and/or cancellation of the PTR. 
 ARTICLE 11.
DISCLAIMERS AND RELEASE 
 11.1 Disclaimers By Seller. Except for the representations and warranties expressly set forth in
this Agreement or in the documents executed by Seller in connection with the Closing (“Seller’s Representations and Warranties”), it is understood and agreed that Seller has not at any time made and is not now making, and
Seller specifically disclaims, any warranties or representations of any kind or character, express or implied, with respect to the Property, including, but not limited to, warranties or representations as to (i) matters of title,
(ii) environmental matters relating to the Property or any portion thereof, including, without limitation, the presence of Hazardous Materials in, on, under or in the vicinity of the Property, (iii) geological conditions, including,
without limitation, subsidence, subsurface conditions, water table, underground water reservoirs, limitations regarding the withdrawal of water, and geologic faults and the resulting damage of past and/or future faulting, (iv) whether, and to
the extent to which the Property or any portion thereof is affected by any stream (surface or underground), body of water, wetlands, flood prone area, flood plain, floodway or special flood hazard, (v) drainage, (vi) soil conditions,
including the existence of instability, past soil repairs, soil additions or conditions of soil fill, or susceptibility to landslides, or the sufficiency of any undershoring, (vii) the presence of endangered species or any environmentally
sensitive or protected areas, (viii) zoning or building entitlements to which the Property or any portion thereof may be subject, (ix) the availability of any utilities to the Property or any portion thereof including, without limitation,
water, sewage, gas and electric, (x) usages of adjoining Property, (xi) access to the Property or any portion thereof, (xii) the value, compliance with the plans and specifications, size, location, age, use, design, quality,
description, suitability, structural integrity, operation, title to, or physical or financial condition of the Property or any portion thereof, or any income, expenses, charges, liens, encumbrances, rights or claims on or affecting or pertaining to
the Property or any part thereof, (xiii) the condition or use of the Property or compliance of the Property with any or all past, present or future federal, state or local ordinances, rules, regulations or laws, building, fire or zoning
ordinances, codes or other similar laws, (xiv) the 
  

 24 

 
existence or non-existence of underground storage tanks, surface impoundments, or landfills, (xv) the merchantability of the Property or fitness of the
Property for any particular purpose, (xvi) the truth, accuracy or completeness of the Property Documents (except for the representations expressly stated in Section 9.1), or the Natural Hazard Disclosure or California Tax Disclosure
Report, (xvii) tax consequences, or (xviii) any other matter or thing with respect to the Property. 
 11.2 Sale “As Is,
Where Is”. Buyer acknowledges and agrees that upon Closing, Seller shall sell and convey to Buyer and Buyer shall accept the Property “AS IS, WHERE IS, WITH ALL FAULTS,” except for Seller’s Representations and Warranties.
Except for Seller’s Representations and Warranties, Buyer has not relied and will not rely on, and Seller has not made and is not liable for or bound by, any express or implied warranties, guarantees, statements, representations or information
pertaining to the Property or relating thereto (including specifically, without limitation, Property information packages distributed with respect to the Property) made or furnished by Seller or any real estate broker, agent or third party
representing or purporting to represent Seller, to whomever made or given, directly or indirectly, orally or in writing. Buyer represents that it is a knowledgeable, experienced and sophisticated purchaser of real estate and that, except for
Seller’s Representations and Warranties, it is relying solely on its own expertise and that of Buyer’s consultants in purchasing the Property and shall make an independent verification of the accuracy of any documents and information
provided by Seller. Buyer will conduct such inspections and investigations of the Property as Buyer deems necessary, including, but not limited to, the physical and environmental conditions thereof, and shall rely upon same. By failing to terminate
this Agreement prior to the expiration of the Contingency Period, Buyer acknowledges that Seller has afforded Buyer a full opportunity to conduct such investigations of the Property as Buyer deemed necessary to satisfy itself as to the condition of
the Property and the existence or non-existence or curative action to be taken with respect to any Hazardous Materials on or discharged from the Property, and will rely solely upon same and not upon any information provided by or on behalf of Seller
or its agents or employees with respect thereto, other than such representations, warranties and covenants of Seller as are expressly set forth in this Agreement. Upon Closing, except for Seller’s Representations and Warranties, Buyer shall
assume the risk that adverse matters, including, but not limited to, adverse physical or construction defects or adverse environmental, health or safety conditions, may not have been revealed by Buyer’s inspections and investigations.

 Buyer’s Initials
                     
 11.3
Seller Released from Liability. Buyer acknowledges that it will have the opportunity to inspect the Property during the Contingency Period, and during such period, observe its physical characteristics and existing conditions and the
opportunity to conduct such investigation and study on and of the Property and adjacent areas as Buyer deems necessary, and Buyer hereby FOREVER RELEASES AND DISCHARGES Seller from all responsibility and liability, including without limitation,
liabilities under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. Sections 9601, et seq.), as amended (“CERCLA”), regarding the condition (including the presence in the
soil, air, structures and surface and subsurface waters, of Hazardous Materials or other materials or substances that have been or may in the future be determined to be toxic, hazardous, undesirable 

  

 25 

 
or subject to regulation and that may need to be specially treated, handled and/or removed from the Property under current or future federal, state and local
laws, regulations or guidelines), valuation, salability or utility of the Property, or its suitability for any purpose whatsoever. This release includes claims of which Buyer is presently unaware or which Buyer does not presently suspect to exist
which, if known by Buyer, would materially affect Buyer’s release to Seller. Buyer specifically waives the provision of California Civil Code Section 1542, which provides as follows: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS 
 WHICH THE CREDITOR DOES NOT KNOW OR EXPECT TO 
 EXIST IN HIS OR HER FAVOR AT THE TIME OF 
 EXECUTING THE RELEASE, WHICH IF KNOWN TO HIM 
 OR HER MUST HAVE MATERIALLY AFFECTED THE 
 SETTLEMENT WITH THE DEBTOR.” 
 In this connection and to the extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual
matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees,
represents and warrants that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Buyer nevertheless hereby intends to release, discharge and acquit Seller from any such unknown causes of action,
claims, demands, debts, controversies, damages, costs, losses and expenses. 
 Buyer further hereby WAIVES (and by closing this transaction
will be deemed to have waived) any and all objections to or complaints regarding (including, but not limited to, federal, state and common law based actions), or any private right of action under, state and federal law to which the Property is or
may be subject, including, but not limited to, CERCLA, Resource Conservation and Recovery Act (42 U.S.C. Section 6901, et seq.), as amended (“RCRA”), physical characteristics and existing conditions, including,
without limitation, structural and geologic conditions, subsurface soil and water conditions and solid and hazardous waste and Hazardous Materials on, under, adjacent to or otherwise affecting the Property. Buyer further hereby assumes the risk of
changes in applicable laws and regulations relating to past, present and future environmental conditions on the Property and the risk that adverse physical characteristics and conditions, including, without limitation, the presence of Hazardous
Materials or other contaminants, may not have been revealed by its investigation. 
 Notwithstanding the foregoing release, such release shall not apply to:
(a) any damages, claims, liabilities or obligations arising out of or in connection with a breach of any covenant, representation or warranty of Seller set forth in this Agreement or any of the documents executed in connection with this
Agreement, (b) Seller’s fraud, or (c) any claims or actions Buyer may have against Seller because a third party has filed a claim against Buyer when the basis of the claim asserted against Buyer pertains to events or occurrences
arising prior to Closing. 
 Buyer’s Initials
                     
  

 26 

 11.4 “Hazardous Materials” Defined. For purposes hereof, “Hazardous
Materials” means “Hazardous Material” means “Hazardous Substance,” “Pollutant or Contaminant,” and “Petroleum” and “Natural Gas Liquids,” as those terms are defined or used in
Section 101 of CERCLA, and any other substances regulated because of their effect or potential effect on public health and the environment, including, without limitation, PCBs, lead paint, asbestos, urea formaldehyde, radioactive materials,
putrescible, and infectious materials. 
 11.5 Survival. The terms and conditions of this Article 12 shall expressly
survive the Closing, not merge with the provisions of any closing documents and shall be incorporated into the Deed. 
 ARTICLE 12.
MISCELLANEOUS 
 12.1 Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained,
shall inure to the benefit of and be binding upon the heirs, personal representatives, successors, and assigns of each of the parties hereto. Buyer may assign its rights under this Agreement to a third party, but no such assignment shall release
Buyer from liability hereunder for any claims under this Agreement with respect to events occurring prior to the Closing Date. If Buyer and/or Buyer’s assignee has performed all of Buyer’s obligations under the Agreement through the
Closing, then Buyer shall be relieved of any further liability under this Agreement arising from events that occur following the Closing Date. 
 12.2 Headings. The article, section, subsection, paragraph and/or other headings of this Agreement are for convenience only and in no way limit or enlarge the scope or meaning of the language hereof. 
 12.3 Invalidity and Waiver. If any portion of this Agreement is held invalid or inoperative, then so far as is reasonable and possible the
remainder of this Agreement shall be deemed valid and operative, and, to the greatest extent legally possible, effect shall be given to the intent manifested by the portion held invalid or inoperative. The failure by either party to enforce against
the other any term or provision of this Agreement shall not be deemed to be a waiver of such party’s right to enforce against the other party the same or any other such term or provision in the future. 
 12.4 Governing Law. This Agreement shall, in all respects, be governed, construed, applied, and enforced in accordance with the law of the State
of California. 
 12.5 Survival. The provisions of this Agreement that contemplate performance after the Closing and the obligations
of the parties not fully performed at the Closing shall survive the Closing and shall not be deemed to be merged into or waived by the instruments of Closing. 
 12.6 Entirety and Amendments. This Agreement embodies the entire agreement between the parties and supersedes all prior agreements and understandings relating to the Property. This Agreement may be amended or
supplemented only by an instrument in writing executed by the party against whom enforcement is sought. 
 12.7 Time. Time is of the
essence in the performance of this Agreement. 
  

 27 

 12.8 Confidentiality. Buyer and Seller shall each make no public announcement or disclosure of any
information related to this Agreement (including, but not limited to, the Purchase Price for the Property) to outside brokers or other third parties without the prior written specific consent of the other party to this Agreement; provided, however,
that Seller and Buyer may, subject to the provisions of Section 4.8, make disclosure of this Agreement to its Permitted Outside Parties as necessary to perform its obligations hereunder and as may be required under laws or regulations
applicable to Seller and Buyer. 
 Notwithstanding the foregoing, nothing contained herein shall impair Buyer’s (or its permitted
assignee’s) right to disclose information relating to this Agreement or the Property (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 Buyer or its permitted assignees, (b) in connection with any filings (including any amendment or supplement to any S-11 filing) with governmental agencies (including the SEC) by any REIT holding an interest (direct or
indirect) in any permitted assignee of Buyer, and (c) to any broker/dealers in the REIT’s broker/dealer network and any of the REIT’s investors. Buyer shall indemnify, defend and hold Seller, its partners, officers and directors
harmless from any and all claims that may arise from Buyer’s (or its permitted assignee’s) disclosure of such information to such third parties to the extent a third party brings an action against Seller and/or Buyer concerning this
Agreement or the Property by reason of a violation of federal or state securities laws. 
 12.9 Notices. All notices required or
permitted hereunder shall be in writing and shall be served on the parties at the addresses set forth in Section 1.3. Any such notices shall, unless otherwise provided herein, be given or served (i) by depositing the same in the
United States mail, postage paid, certified and addressed to the party to be notified, with return receipt requested, (ii) by overnight delivery using a nationally recognized overnight courier, (iii) by personal delivery, or (iv) by
facsimile, evidenced by confirmed receipt. Notice deposited in the mail in the manner hereinabove described shall be effective on the third business day after such deposit. Notice given in any other manner shall be effective only if and when
received by the party to be notified between the hours of 8:00 a.m. and 5:00 p.m. of any business day with delivery made after such hours to be deemed received the following business day. A party’s address may be changed by written
notice to the other party; provided, however, that no notice of a change of address shall be effective until actual receipt of such notice. Copies of notices are for informational purposes only, and a failure to give or receive copies of any notice
shall not be deemed a failure to give notice. Notices given by counsel to the Buyer shall be deemed given by Buyer and notices given by counsel to the Seller shall be deemed given by Seller. 
 12.10 Construction. The parties acknowledge that the parties and their counsel have reviewed and revised this Agreement and agree that the normal
rule of construction – to the effect that any ambiguities are to be resolved against the drafting party – shall not be employed in the interpretation of this Agreement or any exhibits or amendments hereto. 
 12.11 Calculation of Time Periods. Unless otherwise specified, in computing any period of time described herein, the day of the act or event after
which the designated period of time begins to run is not to be included and the last day of the period so computed is to be included, unless such last day is a Saturday, Sunday or legal holiday for national banks in the location where the Property
is located, in which event the period shall run until the end of the next day which is neither a Saturday, Sunday, or legal holiday. The last day of any period of time described herein shall be deemed to end at 5:00 p.m. local time in the state
in which the Property is located. 
  

 28 

 12.12 Execution in Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed to be an original, and all of such counterparts shall constitute one Agreement. 
 12.13 No Recordation.
There shall be no recordation of either this Agreement or any memorandum hereof, or any affidavit pertaining hereto, and any such recordation of this Agreement or memorandum or affidavit by Buyer shall constitute a default hereunder by Buyer.

 12.14 Further Assurances. In addition to the acts and deeds recited herein and contemplated to be performed, executed and/or
delivered by either party at Closing, each party agrees to perform, execute and deliver, but without any obligation to incur any additional liability or expense, on or after the Closing any further deliveries and assurances as may be reasonably
necessary to consummate the transactions contemplated hereby or to further perfect the conveyance, transfer and assignment of the Property to Buyer. 
 12.15 Discharge of Obligations. The acceptance of the Deed by Buyer shall be deemed to be a full performance and discharge of every representation and warranty made by Seller herein and every agreement and
obligation on the part of Seller to be performed pursuant to the provisions of this Agreement, except those which are herein specifically stated to survive Closing. 
 12.16 No Third Party Beneficiary. The provisions of this Agreement and of the documents to be executed and delivered at Closing are and will be for the benefit of Seller and Buyer only and are not for the
benefit of any third party, and accordingly, no third party shall have the right to enforce the provisions of this Agreement or of the documents to be executed and delivered at Closing. 
 12.17 Designated Representative. Seller hereby appoints Eva Hill as representative (“Designated Representative”) to deal with
Buyer. Whenever any approval, acceptance, consent, direction or action of Seller is required pursuant to this Agreement, Buyer shall send to the Designated Representative a written notice requesting same, which notice shall: (i) describe in
detail the matter for which such approval, acceptance, consent, direction or other action of Seller is requested; (ii) be accompanied by a copy of any contract, agreement or other document to be executed by Seller evidencing such approval,
consent, acceptance, direction or action of Seller; and (iii) be accompanied by such other documents, written explanations and information as may be reasonably necessary to explain the request fully and completely. Copies of each notice sent to
the Designated Representative shall also be provided to those parties indicated in Section 1.3 to receive copies of notices to Seller. 
 12.18 Exchange Cooperation. 
 12.18.1 Exchanges by Seller Entities. Buyer acknowledges that Seller may
desire to consummate an exchange which will qualify for nonrecognition of gain under Section 1031 of the Internal Revenue Code (“1031 Exchange”). In the event that Seller elects to 

  

 29 

 
undertake a 1031 Exchange, Buyer agrees to fully cooperate to effect such a 1031 Exchange; provided, however, that Seller shall reimburse Buyer for any
additional costs or expenses which Buyer incurs as a result of or in connection with such 1031 Exchange and provided that Buyer shall not, under any circumstances, be required to acquire title to any other property in connection with such 1031
Exchange or execute any documents other than a simple consent. In the event of such 1031 Exchange, Seller shall indemnify, defend, and hold Buyer harmless from any and all liabilities, losses, and expenses, including attorneys’ fees, arising
from such 1031 Exchange, which liabilities, losses, and expenses would not have been incurred had there not been such a 1031 Exchange. This indemnification and hold harmless agreement shall survive the Closing and/or any termination of this
Agreement. It is understood by the parties hereto that any such 1031 Exchange shall not cause any delay in the Closing Date as originally scheduled hereunder, and that inability of Seller to consummate this transaction as an exchange shall not
entitle it to refuse to perform. 
 12.18.2 Exchange(s) by Buyer. Seller shall cooperate with Buyer in effecting a 1031
Exchange if Buyer desires to undertake such a transaction; provided, however, (i) the exchange shall be at no expense to Seller; (ii) the exchange shall not delay the Closing Date for transfer of the Property; and (iii) Seller shall
not be required to acquire title to any proposed exchange properties to accommodate Buyer’s exchange. Buyer shall indemnify, defend and hold Seller harmless from and against any and all claims, demands, costs and expenses which Seller may
sustain or incur resulting from the consummation of the transfer of the Property as a Section 1031 exchange rather than a sale to the extent such 1031 exchange is at the request of Buyer. This indemnification and hold harmless agreement shall
survive the Closing. It is understood by the parties hereto that any such exchange shall not cause any delay in the Closing Date as originally scheduled hereunder, and that inability of Buyer to consummate this transaction as an exchange shall not
entitle it to refuse to perform. Although the same shall not relieve Buyer from any liability under this Agreement, Seller shall permit an assignment by Buyer, or a novation between Seller and an intermediary, in either of which events, Seller shall
consummate the transaction as a sale to such intermediary. Buyer shall reimburse Seller for any additional costs or expenses, including reasonable attorneys’ fees, resulting from Seller’s cooperation with Buyer’s 1031 Exchange.

 12.19 General Escrow Provisions. 
 12.19.1 Escrow Instructions. This Agreement when signed by Buyer and Seller shall also constitute escrow instructions to Escrow Holder. 
 12.19.2 Opening of Escrow. When both (i) this Agreement, fully signed, or in signed counterparts, and (ii) the Deposit
have been delivered to Escrow Holder, Escrow shall be deemed open (“Opening of Escrow”), and Escrow Holder shall immediately notify Buyer and Seller by telephone and in writing of the date of Opening of Escrow. 
 12.19.3 General Provisions. Notwithstanding anything to the contrary in this Agreement, the general provisions of Escrow Holder, if
any, which are later signed by the parties, are incorporated by reference to the extent they are not inconsistent with the provisions of this Agreement. If there is any inconsistency between the provisions of those general provisions and any of the
provisions of this Agreement, the provisions of this Agreement shall control. 
  

 30 

 12.19.4 Escrow Holder Authorized to Complete Blanks. If necessary, Escrow Holder
is authorized to insert the Closing Date in any blanks in the Closing documents. 
 12.19.5 Recordation and Delivery of
Funds and Documents. When Buyer and Seller have satisfied their respective Closing obligations under Sections 7.3, 7.4, 7.5 and 7.6 hereof and each of the conditions under Sections 7.2.1 and 7.2.2 hereof have either been
satisfied or waived, Escrow Holder shall promptly undertake all of the following in the manner indicated and as more particularly instructed in Buyer’s and Seller’s Closing instructions: 
 (a) Prorations. Prorate and allocate all matters as described in Sections 8.1 and 8.3 hereof; 
 (b) Recording. Cause the Deed and any other documents which the parties hereto may mutually direct, to be recorded in the official
records of the county in which the Property is located in the order set forth in Buyer’s and Seller’s Closing instructions; 
 (c) Funds. Disburse funds deposited by Buyer with Escrow Holder towards payment of all items chargeable to the account of Buyer pursuant to this Agreement, including, without limitation, the payment of the
Purchase Price to Seller; 
 (d) Document Delivery. Deliver originals and conformed copies of all documents to Seller
and Buyer, as appropriate; and 
 (e) Title Policy. Direct the Title Company to issue the Title Policy to Buyer.

 [SIGNATURE BLOCKS APPEAR ON FOLLOWING PAGE] 
  

 31 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year written below.

 SELLER: 
 EVERGREEN/BRADVILLE II, 
 a California general partnership 
  

					
			
		 	By:	 	JWD, Inc., managing venturer

  

					
			
		 	By:	 	/s/ Authorized Signatory
		 	Name:	 	  
		 	Title:	 	  

  

					
			
		 	By:	 	Westrise, Inc., general partner

  

					
			
		 	By:	 	/s/ Authorized Signatory
		 	Name:	 	  
		 	Title:	 	  

  

 S-1 

 BUYER: 
 KBS GOETHE
ROAD, LLC, 
 a Delaware limited liability company 
  

											
		
	By:	 	 KBS REIT ACQUISITION XVIII, LLC,
 a Delaware
limited liability company,
 its sole member

			
		 	By:	 	 KBS REIT PROPERTIES, 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-2 

 Acceptance by Escrow Holder 
 The undersigned Escrow Holder hereby acknowledges that on
                    , 2007, which, pursuant to Subsection 1.1.9, is the “Effective Date” the undersigned received
a fully executed duplicate original (with Section 10.1 initialed by Buyer and Seller and Sections 11.2 and 11.3 initialed by Buyer) of the foregoing Agreement of Purchase and Sale. Subject to Escrow Holder’s
receipt of acceptable supplemental escrow instructions, Escrow Holder agrees to act as the Escrow Holder under this Agreement, and to comply with the instructions contained therein, including withholding under the Internal Revenue Code and
California Revenue and Taxation Code. Escrow Holder has assigned Escrow             . 
  

			
	CHICAGO TITLE COMPANY
		
	By:	 	/s/ Authorized Signatory
	Name:	 	  
	Title:	 	  

  

 3Purchase Agreement (OIRE Michigan, L.L.C.)

 Exhibit 10.92 
 PURCHASE AGREEMENT 
 THIS PURCHASE AGREEMENT (“Agreement”) is made as of
June 1, 2007, by and between OIRE MICHIGAN, L.L.C., a Delaware limited liability company (“Seller”), and KBS CAPITAL ADVISORS LLC, a Delaware limited liability company (“Purchaser”). 
 In consideration of this Agreement, Seller and Purchaser agree as follows: 
 1. Sale of Subject Property. Seller agrees to sell to Purchaser the property described below, and Purchaser agrees to purchase from Seller, all of Seller’s right, title and interest in and to the following
property (collectively, “Subject Property”), upon the terms and conditions set forth herein: 
 (a) Real
Property. Fee simple interest in that certain parcel of real estate in Wayne County, Michigan, commonly known as the Advo project, legally described on Exhibit A attached hereto and made a part hereof (the “Land”), together with
(i) all building structures, improvements and fixtures owned by Seller located on the Land (the “Improvements”), and (ii) all rights, privileges, servitudes, easements and appurtenances thereunto belonging or appertaining (the
items described in (i) and (ii) above, collectively, the “Real Property”). 
 (b) Personal Property and
Intangibles. All of the equipment and personal property owned by Seller located at or installed on the Real Property and used solely in the operation of the Real Property, if any, and the right to use the name of the Subject Property and other
business or trade names associated with the Subject Property (excluding any name containing the name “Opus”) to the extent the same are assignable (collectively, “Personal Property”). 
 (c) Lease. The interest as lessor in and to the lease described on Exhibit B attached hereto and made a part hereof,
together with all amendments or modifications referred to therein, if any (the “Lease”). 
 (d) Permits. The
licenses, permits, and certificates of occupancy described on Exhibit C attached hereto and made a part hereof, to the extent that the same are assignable (collectively, the “Permits”). 
 (e) Service Contracts. The existing service and maintenance contracts described on Exhibit D attached hereto and made a part
hereof, together with all amendments or modifications referred to therein, if any (“Service Contracts”) to the extent they are assignable. On or before the Contingency Date, Purchaser shall advise Seller, in writing, of any Service
Contracts that Purchaser does not desire to be assigned to and assumed by Purchaser at Closing (the “Rejected Service Contracts”), and any Rejected Service Contracts shall be terminated prior to or at Closing if such contracts are
terminable at no cost to Seller and Seller has reasonably sufficient notice to allow for timely termination of such Service Contracts. Failure by Purchaser to notify Seller prior to the Contingency Date shall constitute an election by Purchaser to
have all of the Service Contracts assigned to and assumed by Purchaser at Closing. Notwithstanding the foregoing, Purchaser hereby disapproves of any leasing agreements and/or property management agreements affecting the Subject Property, which
Seller shall cause to be terminated at Closing. 
 (f) Warranties. All unexpired warranties and guaranties given or
assigned to or benefiting Seller, the Real Property or the Personal Property regarding the acquisition, construction, design, use, operation, management or maintenance of the Real Property or the Personal Property that are described on Exhibit
E attached hereto and made a part hereof (“Warranties”), to the extent that the same are in Seller’s possession and are assignable without cost to Seller; provided, however, it is understood that Seller is not assigning, and the
Subject Property does not consist of, any interest in any construction or development contract between Seller and any other Opus-related entity. 

 (g) Plans. A limited license, as hereinafter described, to review and use a copy
of the final plans and specifications (excluding shop drawings) relating to the construction of the Improvements in Seller’s possession (“Plans”); provided, however, neither Purchaser nor its successors or assigns may use the Plans
for any purpose other than the repair, maintenance or restoration of the Improvements without the prior written consent of Seller, and Purchaser hereby agrees to indemnify, defend and hold harmless Seller and its affiliates from and against any
unauthorized use of the Plans, which obligation shall survive Closing. Seller reserves the right to use the Plans for any purpose. 
 2.
Closing Date; Purchase Price. The closing of the purchase and sale of the Subject Property (“Closing”) shall occur on July 10, 2007 (the “Closing Date”) unless this Agreement is earlier terminated as provided herein,
subject to extension as provided in Section 7(a) below, and subject to Purchaser’s right (which is hereby granted to Purchaser) to accelerate the Closing Date upon five (5) business days prior written notice. Purchaser shall
pay to Seller, as consideration for the purchase of the Subject Property, the sum (“Purchase Price”) of EIGHT MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($8,500,000.00) as the same may be adjusted as provided below. The Purchase
Price shall be payable as follows: 
 (a) Initial Earnest Money Deposit. Within one (1) business day after the
execution of this Agreement, Purchaser shall deposit in the form of cash the sum of FIFTY THOUSAND and 00/100 Dollars ($50,000.00) (together with interest earned thereon, the “Initial Earnest Money”) with the escrow department of First
American Title Insurance Company, a California corporation, at 1900 Midwest Plaza West, 801 Nicollet Mall, Minneapolis, MN 55402, attn: Jordan Dunn (“Title Company”) pursuant to an escrow agreement in the form of Exhibit F attached
hereto and made a part hereof (the “Escrow Agreement”). 
 (b) Second Earnest Money Deposit. Within one
(1) business day after the Contingency Date (as defined herein), Purchaser shall deposit in the form of cash the additional sum of ONE HUNDRED THOUSAND and 00/100 Dollars ($100,000.00) (the “Nonrefundable Second Earnest Money”;
together with the Initial Earnest Money and any interest earned thereon, the “Earnest Money”) with the Title Company pursuant to the Escrow Agreement. Notwithstanding anything stated to the contrary in this Agreement, if the transaction
contemplated hereunder fails to close for any reason other than Purchaser’s default under this Agreement, the Earnest Money shall be refundable to Purchaser, except as specifically provided herein. All or a portion of the Earnest Money shall,
at Purchaser’s election, be credited against the Purchase Price at Closing. 
 (c) Balance of Purchase Price. The
balance of the Purchase Price, plus or minus prorations and other adjustments, if any, shall be due in cash at Closing. Purchaser shall pay such balance to Seller, or, at the direction of Seller, by wire transfer of immediately available funds to
the Title Company’s escrow account at Closing, to be received by Seller at or before 2:00 p.m. Central Daylight Time on the Closing Date. 
  

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 3. Conditions Precedent to Closing. Purchaser’s obligation to consummate the transaction
contemplated by this Agreement shall be subject to satisfaction or waiver of each of the following conditions (“Conditions Precedent”) on or before 5:00 p.m. Central Daylight Time, on July 2, 2007 (“Contingency Date”):

 (a) Title/Survey. Prior to the date hereof, Seller has furnished to Purchaser: (i) a current title commitment
(“Commitment”) for the Real Property (with copies of all underlying title documents listed in the Commitment other than any financing documents) for a ALTA 2006 form owner’s title policy (the “Owner’s Policy) in the amount
of the Purchase Price issued by the Title Company showing title in Seller, subject only to the encumbrances set forth on Exhibit G attached hereto and made a part hereof or otherwise permitted by Purchaser (collectively, the “Permitted
Encumbrances”), which Commitment shall be in a nominal amount but shall be increased to the Purchase Price at Closing and (ii) an updated ALTA as-built survey (“Survey”) for the Real Property prepared in accordance with the
Minimum Standard Detail Requirements for Class A Land Title Surveys (jointly established by ALTA/ACSM as revised in 2005) which shall be (prior to Closing) certified to Purchaser and the Title Company. If the Survey discloses survey defects
other than the Permitted Encumbrances or if the Commitment shows exceptions other than the Permitted Encumbrances that are not acceptable to Purchaser (collectively, the “Unpermitted Encumbrances”), then Purchaser shall notify Seller, in
writing, on or before June 21, 2007 (the “Title Notice Date”), specifying the Unpermitted Encumbrances, and, prior to the Contingency Date, Purchaser shall have received assurances satisfactory to Purchaser, in its reasonable
discretion, that the Unpermitted Encumbrances will be removed or endorsed over on or before Closing. Any encumbrances shown on the Commitment or the Survey to which Purchaser has not objected on or prior to the Title Notice Date shall be deemed
“Permitted Encumbrances”. In addition, if Seller has not expressly agreed in writing on or before the Contingency Date that Seller will remove or cause the Title Company to endorse over any encumbrances to which Purchaser has objected,
such encumbrances shall be deemed “Permitted Encumbrances” (and shall no longer be Unpermitted Encumbrances) from and after the Contingency Date if Purchaser has not terminated this Agreement as allowed herein, on or prior to the
Contingency Date. Notwithstanding anything herein to the contrary, Seller shall have no obligation to correct, cure or remove any Unpermitted Encumbrances; provided, however, that Seller covenants to cause all monetary and financing liens and
encumbrances created by or through Seller (other than the liens for non-delinquent real property taxes) to be eliminated at Seller’s sole cost and expense (including all pre-payment penalties and charges) prior to or concurrently with Closing.

 (b) Due Diligence Materials; Tests. Seller shall, within two (2) business days following execution of this
Agreement, deliver to Purchaser copies of the due diligence materials listed on Schedule 1 attached hereto to the extent in Seller’s possession or control with respect to the Subject Property, for Purchaser’s review and analysis. Except as
otherwise provided herein, it is the parties’ express understanding and agreement that such materials are provided only for Purchaser’s convenience in making its own examination and determination prior to the Contingency Date, as to
whether or not it wishes to purchase the Subject Property, and, in doing so, Purchaser shall rely exclusively on its own independent investigation and evaluation of every aspect of the Subject Property and on the express representations of Seller
contained herein and not on any materials supplied by Seller. Seller shall allow Purchaser and Purchaser’s officers, employees, agents, attorneys, architects and engineers access to the Real Property, subject to the rights of Advo, Inc., the
tenant under the Lease (the “Tenant”) without charge and at all reasonable times, for the purpose of making such inspections, tests and verifications (collectively, “Tests”) as they shall deem reasonably necessary, provided that
Purchaser may not perform a Phase II environmental assessment or physically invasive testing without Seller’s prior written approval. Purchaser’s access rights shall commence on the date of this Agreement and continue until the earliest to
occur of the following events: (i) the date Seller terminates this Agreement in accordance with the terms hereof; (ii) the date Purchaser terminates this Agreement in accordance with the terms hereof, or (iii) the Closing. On or
before the Contingency Date, Purchaser shall be satisfied, in its sole and absolute discretion, with the results of the Tests. Purchaser shall pay all costs and expenses of the Tests, and except for those matters caused by the negligent acts or
omissions of Seller, Purchaser shall defend, indemnify and hold harmless Seller, and its agents, employees and contractors, and the Subject Property, from and against any and all loss, cost, damage, liability, settlement, cause of action or threat
thereof or expense (including, without limitation, reasonable attorneys’ fees and costs) arising from or relating to the 

  

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Tests, but excluding claims arising from Purchaser’s discovery of existing conditions on the Subject Property (except to the extent such existing
conditions were exacerbated by the Tests). Purchaser shall carry and shall cause any consultants retained by Purchaser to carry policies of commercial general liability insurance in an amount not less than $5,000,000 combined single limit per
occurrence for bodily injury, death and property damage liability and provide evidence of such insurance to Seller prior to commencing the Tests. Purchaser shall promptly repair and restore any damage to the Subject Property attributable to the
conduct of the Tests, or Purchaser’s presence or activity on the Subject Property and shall promptly return the Subject Property to substantially the same condition as existed prior to the conduct of the Tests. No Tests shall be conducted
without Seller’s approval as to the time and manner of such Tests, which approval shall not be unreasonably withheld or delayed. At Seller’s sole option, any such Tests shall be performed in the presence of a representative of Seller. All
Tests shall be conducted in such a manner so as to minimize interference with the operation of the Subject Property and the business of the Tenant and occupants thereof. Anything in this Agreement to the contrary notwithstanding, the indemnity,
defense and hold harmless obligations of Purchaser under this Section 3(b) shall survive Closing and any termination of this Agreement. Notwithstanding anything in this Agreement to the contrary, Seller shall have no obligation to make
any repairs or improvements to the Subject Property. 
 Purchaser shall be permitted to interview Tenant at a time reasonably acceptable to
Seller and the Tenant, provided that Seller may have a representative present at any such interview. 
 Purchaser has informed Seller that
Purchaser is required by law to complete with respect to certain matters relating to the Subject Property an audit commonly known as a “3-14” Audit (“Purchaser’s 3-14 Audit”). In connection with the performance of
Purchaser’s 3-14 Audit, Seller shall deliver to Purchaser, as part of the due diligence materials provided to Purchaser as provided for in this Agreement, (a) the documents which are described on Exhibit M attached hereto, to the
extent in existence and in Seller’s possession with respect to the time periods during which the Subject Property was owned by Seller (collectively, the “Audit Documentation”), and (b) provide to Purchaser in written form, as
determined by Seller, answers to the questions relating to the Subject Property which are expressly set forth in Exhibit M (the “Written Answers”) (provided that Seller shall not be required to answer any additional written
questionnaires in connection with Purchaser’s 3-14 Audit and shall not be required to deliver any confidential or proprietary information of Seller, including appraisals, organizational documents, documents relating to the capitalization of
Seller or its members, whether through debt or equity, the Seller’s basis in the Subject Property, and internal reports, or any materials not related to the Subject Property). All such Audit Documentation and Written Answers are provided by
Seller without any representation or warranty. Purchaser waives all claims against Seller in connection with the preparation of the Audit Documentation and Written Answers provided to Purchaser or its auditors with respect to the Subject Property.
Purchaser shall indemnify and defend Seller and its officers, directors, employees, members and affiliates against any and all claims, demands, causes of action, losses, damages, liabilities, judgments, costs and expenses (including attorney’s
fees) arising in connection with the preparation and delivery of the Audit Documentation and Written Answers, including any claims based on the accuracy or completeness of the Audit Documentation or Written Answers or compliance of such Audit
Documentation or Written Answers with applicable laws. Purchaser’s indemnification obligations contained in this Section 3 shall survive Closing. 
 Purchaser shall, on or before the Contingency Date notify Seller in writing if the Conditions Precedent have not been satisfied or waived by Purchaser, in Purchaser’s sole and absolute discretion and that
Purchaser has elected to terminate this Agreement (which election shall be in Purchaser’s sole and absolute discretion). If Purchaser so timely notifies Seller, then this Agreement shall terminate, and Purchaser shall receive a return of the
Earnest Money together with any interest earned thereon, provided Purchaser shall execute any documents reasonably required by Seller to evidence such termination 

  

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including, without limitation, a quit claim deed. Upon such termination, neither party will have any further rights or obligations (other than the
obligations of Purchaser set forth in Sections 1(g), 3(b) and 28 and the indemnity and other obligations of Seller and Purchaser set forth in Sections 13 and 23, which obligations shall survive any such termination; such
indemnity obligations shall be referred to herein as the “Surviving Indemnity Obligations”) regarding this Agreement or the Subject Property. If Purchaser gives notice that the Conditions Precedent have been satisfied or waived by
Purchaser, or if Purchaser fails to notify Seller on or prior to the Contingency Date that the Conditions Precedent have not been satisfied or waived by Purchaser, then Purchaser’s termination right set forth in this Section 3 shall
be deemed to have been waived by Purchaser, in which event (i) Purchaser shall deposit the Nonrefundable Second Earnest Money with the Title Company, (ii) the Initial Earnest Money and the Nonrefundable Second Earnest Money shall become
nonrefundable as of the Contingency Date subject to the terms and conditions of this Agreement, and (iii) the parties shall proceed to Closing in accordance with the provisions herein contained. 
 4. Covenants by Seller. Seller covenants and agrees with Purchaser that from the date hereof until the Closing Date or earlier termination of this
Agreement, Seller shall conduct its business involving the Subject Property as follows and during such period will (except as specifically provided to the contrary herein): 
 (a) Transfers; Easements. Refrain from conveying the Subject Property, except to an affiliate or subsidiary (which transfer, if
any, will be made subject to the rights of Purchaser under this Agreement), or creating on the Subject Property any easements affecting the Subject Property other than as may be required by any applicable governmental or quasi-governmental authority
or by a provider of utility services, and refrain from removing any fixture or equipment; provided, however, nothing herein shall preclude Seller or Seller’s property manager from replacing any equipment, supplies or machinery in the ordinary
course of operating the Subject Property. Seller shall, upon Seller’s receipt, deliver to Purchaser a copy of any easement so required by any governmental or quasi-governmental authority or provider of utility services affecting the Subject
Property (which shall require the consent of Purchaser, not to be unreasonably withheld), and any such easement, if approved, shall constitute a Permitted Encumbrance. 
 (b) Contracts. Refrain from entering into or amending any material contracts or other agreements regarding the Subject Property
that would be binding on Purchaser following consummation of the sale contemplated by this Agreement (other than leases, which are governed by Section 4(d) and other than contracts in the ordinary course of business which are cancelable
by the owner of the Subject Property without penalty within thirty (30) days after giving notice thereof) without the prior written consent of Purchaser, which consent shall not be unreasonably withheld, delayed or conditioned, and which shall
be deemed given if Purchaser does not object to Seller’s request for approval within three (3) days. 
 (c)
Operation. Operate, maintain, repair and insure the Subject Property in a manner consistent with the existing operation, maintenance, repair and insurance of the Subject Property. 
 (d) Other Leases. Except as expressly provided herein, from and after the Contingency Date (provided that this Agreement has not
been terminated), Seller shall refrain from amending the existing Lease (a “Proposed Lease Amendment”) without Purchaser’s written approval, as provided below, provided that Purchaser shall have no ability to interfere with the
administration by Seller of the existing Lease as required by, and in accordance with, the terms of the Lease. Seller shall furnish Purchaser with a true and complete copy of any Proposed Lease Amendment, and Purchaser shall have three
(3) business days from receipt of such Proposed Lease Amendment to approve or disapprove the same, which approval or disapproval shall be in Purchaser’s sole discretion. In the event that 

  

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Purchaser does not approve any such Proposed Lease Amendment, Purchaser shall notify Seller, in writing, of such disapproval prior to the expiration of the
aforesaid three (3) business day period. If Purchaser does not provide such notice prior to the expiration of the aforesaid three (3) business day period, the Proposed Lease Amendment shall be deemed approved. Nothing in this
Section 4(d) shall restrict Seller from amending the Lease prior to the Contingency Date, provided that Seller shall provide Purchaser with a copy of any such Proposed Lease Amendment(s) at least three (3) days prior to the
Contingency Date. 
 (e) Notice Regarding Representations and Warranties. Seller shall promptly deliver to Purchaser
any notices it may hereafter receive from time to time that, if not delivered to Purchaser, would cause the representations and warranties set forth in Section 5 herein to be untrue if made after Seller’s receipt of any such
notices. 
 (f) SNDAs. Seller agrees to submit to the Tenant a Subordination, Non-Disturbance and Attornment Agreement
(the “SNDA”) in the form delivered by Purchaser to Seller (provided that such form shall be completed by Purchaser and delivered to Seller) and request that the Tenant return the SNDA to Seller along with the Estoppel Certificates (as
defined in Section 7(b)(iii) below), but receipt of the executed SNDA from Tenants shall not be a condition to the Closing. 
 5.
Representations by Seller. 
 (a) Representations. Seller represents to Purchaser as follows: 
  

	 	(i)	Authority. Seller is a limited liability company duly organized and validly existing and in good standing under the laws of the State of Delaware; Seller has the requisite
power and authority to enter into and perform this Agreement, the Seller’s Closing Documents and the Joint Closing Documents (as herein defined) to which it is a party; such documents have been duly authorized by all necessary action on the
part of Seller and have been or will be duly executed and delivered; such execution, delivery and performance by Seller of such documents will not conflict with or result in a violation of Seller’s organizational documents, or any judgment,
order, or decree of any court or arbiter to which Seller is a party, and such documents are valid and binding obligations of Seller, and are enforceable against Seller in accordance with their terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium, creditors’ rights and other similar laws. 

  

	 	(ii)	FIRPTA. Seller is not a “foreign person,” “foreign partnership,” “foreign trust” or “foreign estate” as those terms are defined in
Section 1445 of the Internal Revenue Code. 

  

	 	(iii)	Proceedings. To the knowledge of Seller, there is no action, litigation, investigation, condemnation or proceeding of any kind pending, or to the knowledge of Seller,
threatened against Seller (with respect to the Subject Property) or the Subject Property. 

  

	 	(iv)	Lease. 

 (A) Exhibit B is a
true and complete list of all of the Lease documents or other occupancy agreements for the Subject Property. Except as set forth in the Lease, there are no rights of first refusal, options to terminate without cause of Seller, options to renew,
options to purchase, or any rent abatements given to the Tenant after the Tenant is in occupancy and paying rent. 
  

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 (B) To the Seller’s knowledge, the Lease is in full force and effect according to
the terms set forth therein, and has not been modified, amended, or altered, in writing or otherwise, except as set forth in Exhibit B. 
 (C) Seller has not received written notice from the Tenant of any unperformed obligation of the landlord under the Lease, including, without limitation, failure of the landlord to construct any tenant improvements
that were required to have been completed prior to the date hereof by the landlord under the Lease. Seller has not been advised in writing of any claims or disputes giving rise to any setoff by the Tenant. To Seller’s knowledge, with respect to
the Lease as of the date hereof, except as shown on Exhibit B-1 attached hereto, all tenant improvement allowances have been paid and all tenant improvements have been completed. 
 (D) To Seller’s knowledge, the Tenant is not in default under its Lease (beyond any applicable grace or cure period), and there are
no rent delinquencies of more than thirty (30) days. 
 (E) There are no brokers’ commissions, finders’ fees,
or other charges payable or to become payable to any third party on behalf of Seller as a result of or in connection with the Lease, including, without limitation, any unexecuted options to expand or renew, except as set forth on Exhibit B-2
attached hereto and made a part hereof. 
  

	 	(v)	Blocked Persons. Seller has not received written notice that Seller is: 

 (A) listed on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department
of the Treasury (“OFAC”) pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 Sept. 25, 2001 (the “Order”) and/or on any other list of terrorists or terrorist organizations maintained pursuant to any of the rules and
regulations of OFAC or pursuant to any other applicable orders (such lists are collectively referred to as the “Lists”); 
 (B) a person who has been determined by competent authority to be subject to the prohibitions contained in the Order; 
 (C) owned or controlled by, or acts for or on behalf of, any person or entity on the Lists or any other person or entity who has been determined by competent authority to be subject to the prohibitions contained in the Order. 
 (b) Seller’s Knowledge. As used in this Agreement, the phrase “to Seller’s knowledge” or words of similar
import shall mean the actual knowledge of David C. Watson, Vice President, without independent investigation or inquiry. 
  

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 6. Representations by Purchaser and Other Matters. 
 (a) Representations by Purchaser. Purchaser represents to Seller as follows: 
  

	 	(i)	Purchaser is a limited liability company duly organized and validly existing and in good standing under the laws of the State of Delaware; Purchaser has the requisite power and
authority to enter into this Agreement, the Purchaser’s Closing Documents (as herein defined) and the Joint Closing Documents (as herein defined); such documents have been duly authorized by all necessary action on the part of Purchaser and
have been or will be duly executed and delivered; that the execution, delivery and performance by Purchaser of such documents will not conflict with or result in violation of Purchaser’s organizational documents or any judgment, order or decree
of any court or arbiter to which Purchaser is a party; such documents are valid and binding obligations of Purchaser, and are enforceable against Purchaser in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium, creditor’s rights and other similar laws. 

  

	 	(ii)	Purchaser has not received written notice that Purchaser is: 

 (A) listed on the Specially Designated Nationals and Blocked Persons List maintained by the OFAC pursuant to the Order and/or on any of the Lists; 
 (B) a person who has been determined by competent authority to be subject to the prohibitions contained in the Order; 
 (C) owned or controlled by, or acts for or on behalf of, any person or entity on the Lists or any other person or entity who has been
determined by competent authority to be subject to the prohibitions contained in the Order. 
  

	 	(iii)	Purchaser shall not transfer this Agreement or permit the transfer of any interest in Purchaser to any person or entity who is listed on the Lists. 

 (b) Other Matters Related to Representations of Seller and Purchaser. The respective representations of Seller and Purchaser
contained in this Agreement shall survive Closing; provided, however, that (i) any cause of action that Purchaser may have against Seller by reason of a breach or default of any of the representations set forth herein or in any Seller’s
Closing Documents or Joint Closing Documents must be filed by Purchaser on or prior to December 31, 2007 (the “Representation Notice Date”), (ii) Seller’s total liability for any breach or breaches of its representations set
forth herein shall in no event exceed $600,000.00 in the aggregate, which liability limit shall survive Closing; and (iii) Seller shall not have any liability whatsoever to Purchaser with respect to any breach or breaches by Seller of its
respective representations set forth herein, if, prior to Closing, Purchaser obtains knowledge by virtue of a written document or report received on or prior to the Closing Date of a fact or circumstance, the existence of which would constitute a
breach of Seller’s representations set forth herein. Among other things, for purposes hereof, Purchaser shall be deemed to have knowledge of any fact or circumstance set forth in any environmental assessments, Estoppel Certificate (as defined
in Section 7(b)(iv) hereof) or other written materials reviewed or received by Purchaser on or prior to the Closing Date. Seller’s representations set forth herein shall be deemed automatically modified to the extent that any
information contained in any environmental assessments or other written materials reviewed or received by Purchaser prior to the Closing Date is inconsistent with the matters which are the subject of 

  

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such representations, provided that a material change in such representations after the Contingency Date shall constitute a failure of Purchaser’s
Closing Condition Precedent set forth in Section 7(b)(i) below. Notwithstanding the foregoing, Seller shall not have any liability with respect to any breach to the extent the loss sustained by Purchaser as a result thereof does not
exceed $25,000.00 in the aggregate, provided, further if any such loss exceeds $25,000.00, Seller shall be liable for the total amount of such loss subject to the maximum liability provisions herein contained. 
 7. Closing. 
 (a)
Closing Date. The Closing shall occur at 2:00 p.m. Central Daylight Time on the Closing Date, or on such earlier or later date as Seller and Purchaser may mutually agree, subject to extension as provided below and delays occasioned by
operation of Section 8(b) hereof. The Closing shall occur at the office of, or by mail through escrow with, the Title Company or the office of Seller’s outside counsel, Briggs and Morgan, Professional Association, in Minneapolis,
Minnesota or at such other time and place as the parties may mutually agree. Purchaser shall have the one-time option to extend the Closing Date to July 25, 2007 (the “Extended Closing Date”; in the event Purchaser so elects to extend
the Closing Date, herein all references to the Closing Date shall mean the Extended Closing Date), provided that on or before two (2) business days prior to the initially scheduled Closing Date, Purchaser shall deliver written notice to Seller
that it has elected to extend the Closing Date to the Extended Closing Date and shall deposit an additional nonrefundable deposit of SEVENTY-FIVE THOUSAND and 00/100 Dollars ($75,000.00) (the “Extension Deposit”) with the Title Company.
The Extension Deposit shall thereafter be included as Earnest Money pursuant to this Agreement. 
 (b) Purchaser’s
Closing Conditions Precedent. Purchaser’s obligation to consummate the transaction contemplated by this Agreement shall be subject to satisfaction or waiver of each of the following conditions (“Purchaser’s Closing Conditions
Precedent”); provided, however, that Purchaser shall have the unilateral right to waive any Purchaser’s Closing Conditions Precedent, in whole or in part, by written notice to Seller: 
  

	 	(i)	The representations of Seller in Section 5 hereof shall be, in all material respects, true and complete (provided that the execution of any Lease amendments permitted by
this Agreement shall not be deemed a failure of this condition). 

  

	 	(ii)	Seller shall have performed all of the obligations required to be performed by Seller under this Agreement, including, without limitation, the timely delivery of all documents and
instruments to Title Company as required by Sections 8(a) and 8(d) hereof, as and when required by this Agreement, in all material respects. 

  

	 	(iii)	 Purchaser shall have received an estoppel certificate at least three (3) business days prior to the Closing Date, substantially in the form of Exhibit H
attached hereto and made a part hereof, with such additional modifications requested by Tenant and reasonably approved by Purchaser, from Tenant (the “Estoppel Certificate”), which Estoppel Certificate shall not disclose the existence of
any defaults under the Lease referenced therein and shall contain information that is consistent with the terms of the Lease referenced therein. Seller and Purchaser agree that Seller shall not be in default under this Agreement if Seller is unable
to obtain an Estoppel Certificate from the Tenant and that no costs, expenses or other damages shall be due to Purchaser in such event. 

  

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Seller shall use reasonable efforts to obtain such Estoppel Certificate from the Tenant prior to the Contingency Date; provided, however, Seller shall not be
required to expend significant monies or make significant concessions or institute litigation in order to obtain such Estoppel Certificate. Purchaser shall accept an Estoppel Certificate from the Tenant substantially in the form required in the
Tenant’s Lease, or in another form reasonably acceptable to Purchaser in lieu of an Estoppel Certificate substantially in the form attached as Exhibit H attached hereto. 

 (c) Seller’s Conditions Precedent. Seller’s obligation to consummate the transaction contemplated by this Agreement shall
be subject to satisfaction or waiver of each of the following conditions (“Seller’s Closing Conditions Precedent”), but Seller shall have the unilateral right to waive, in whole or in part, any Seller’s Closing Conditions
Precedent, by written notice to Purchaser: 
  

	 	(i)	The representations in Section 6 of Purchaser hereof shall be, in all material respects, true and complete. 

  

	 	(ii)	Purchaser shall have performed all of the obligations required to be performed by Purchaser under this Agreement, as and when required by this Agreement, in all material respects.

 (d) Failure of Condition Precedent. In the event Purchaser’s Closing Conditions Precedent or
Seller’s Closing Conditions Precedent, as the case may be, have not been satisfied or waived as of the scheduled Closing Date as the same may be extended as permitted above, and provided the failure to satisfy or waive any such condition is not
attributable to a breach or default of this Agreement by Seller or Purchaser, as the case may be (in which event the provisions of Section 10 shall apply), this Agreement shall terminate (other than the Surviving Indemnity Obligations,
which obligations shall survive any such termination) and the Earnest Money shall promptly be returned to Purchaser; provided, however, upon such termination Purchaser shall, at the request of Seller, execute any document reasonably requested by
Seller to evidence such termination, including, without limitation, a quit claim deed. Upon such termination, neither party will have any further rights or obligations (other than the Surviving Indemnity Obligations, which shall survive any such
termination) regarding this Agreement or the Subject Property. 
 8. Closing Deliveries. 
 (a) Seller’s Closing Documents. On the Closing Date, Seller shall execute and/or deliver to Purchaser or cause to be executed
and/or delivered the following (collectively, “Seller’s Closing Documents”): 
  

	 	(i)	Deed. A Special Warranty Deed (“Deed”) conveying the Real Property to Purchaser in the form attached as Exhibit I hereto. 

  

	 	(ii)	Bill of Sale. A Bill of Sale transferring the Personal Property for the Subject Property, if any. 

  

	 	(iii)	Evidence of Termination of Management Agreement. Evidence that the existing management agreement executed by Seller has been terminated with respect to the Subject Property.

  

 10 

	 	(iv)	Certificate Regarding Representations in Section 5. A certificate stating that the representations in Section 5 made by Seller under this Agreement are true
and complete in all material respects as of the Closing Date, as modified in the interim, or indicating any material and adverse change in any such representations. 

  

	 	(v)	FIRPTA Certificate. A non-foreign certificate properly containing such information as is required by Section 1445(b)(2) of the Internal Revenue Code and the regulations
promulgated thereunder. 

  

	 	(vi)	Title Documents. Such certificates of Seller in favor of the Title Company, transfer tax declarations or other documents as may be reasonably required by Title Company in
order to record the Deed and issue the Owner’s Policy, all in forms reasonably acceptable to Seller. 

  

	 	(vii)	Tenant Estoppel Certificate. Subject to the terms of Section 7(b)(iv) hereof, an Estoppel Certificate from Tenant. Notwithstanding anything herein to the
contrary, Seller shall not be in default under this Agreement Seller is unable to obtain Estoppel Certificate from the Tenant, and no expenses, costs or other damages shall be due to Purchaser for failure to deliver the Estoppel Certificate.

  

	 	(viii)	Real Estate Transfer Valuation Affidavit. The Real Estate Transfer Valuation Affidavit executed by Seller. 

  

	 	(ix)	Broker Lien Waiver. In the event the Title Company requires any additional broker’s lien waivers in connection with the leasing and/or sale of the Subject Property in
order to issue the Owner’s Policy, then Seller shall deliver such waivers in form satisfactory to induce the Title Company to issue the Owner’s Policy. 

 (b) Title Policy. At Closing and as a condition precedent thereto, Seller shall cause the Title Company, to deliver or irrevocably
commit to deliver to Purchaser its owner’s title insurance polity (the “Owner’s Policy”) in the form of a ALTA standard form of Owner’s Policy of Title Insurance. If the Owner’s Policy which the Title Company is
prepared to issue shows any Unpermitted Encumbrances, Seller shall have the option to extend the Closing Date in order to endeavor to remove such Unpermitted Encumbrances, provided that all of the following conditions are satisfied: (i) Seller
shall provide Purchaser with written notice of its election to extend the Closing Date by no later than five (5) days prior to the scheduled Closing Date, (ii) Seller covenants and agrees that within fifteen (15) days after the
scheduled Closing Date (such 15-day period being sometimes hereinafter referred to as the “Title Cure Period”), to use reasonable efforts to remove such Unpermitted Encumbrances or to cause the Title Company to issue its endorsement over
any such Unpermitted Encumbrances (if such endorsement is available), which endorsement shall be in form and substance reasonably acceptable to Purchaser, and (iii) the new Closing Date shall be five (5) days after the date Seller has
provided Purchaser with written notice that the Unpermitted Encumbrances have been removed or that the Title Company will issue its endorsement over any such Unpermitted Encumbrances, which endorsements shall be in form and substance reasonably
acceptable to Purchaser; provided, however, that the new Closing Date shall not be more than twenty (20) days after the scheduled Closing Date. If, after using reasonable efforts, as aforesaid, Seller cannot cause such Unpermitted Encumbrances
to be removed or if Seller cannot cause the Title Company to issue its endorsement over any such Unpermitted Encumbrances on or before the expiration of the Title Cure Period, Purchaser shall, within five (5) business days following expiration
of 

  

 11 

 
the Title Cure Period, elect to either (i) terminate this Agreement (other than Surviving Indemnity Obligations, which obligations shall survive any
such termination) and the Earnest Money shall be returned to Purchaser, provided if Seller so requests, Purchaser shall execute any document reasonably requested by Seller to evidence such termination including, without limitation, a quit claim
deed, and neither party will have any further obligations (other than the Surviving Indemnity Obligations, which obligations shall survive any such termination) or (ii) take title to the Real Property on the new Closing Date as provided above
subject to the Unpermitted Encumbrances as it then is (without any reduction in the Purchase Price), provided that Seller shall remove any mortgage or similar financing lien created by or through Seller. Failure of Purchaser to notify Seller within
the time limits prescribed herein shall constitute an election under clause (ii) above. 
 (c) Purchaser’s
Closing Documents. On the Closing Date, Purchaser will execute and/or deliver or cause to be executed and/or delivered to Seller the following (collectively, “Purchaser’s Closing Documents”): 
  

	 	(i)	Purchase Price. Provided all of Purchaser’s Closing Conditions Precedent are satisfied or waived, the Purchase Price, plus or minus prorations and other adjustments
provided herein, if any, by wire transfer of immediately available funds, to be received in Title Company’s trust account on or before 2:00 p.m. Central Daylight Time on the Closing Date. 

  

	 	(ii)	Title Documents. Such affidavits of Purchaser, transfer tax declarations or other documents as may be reasonably required by the Title Company in order to record the Deed and
issue the Owner’s Policy required by this Agreement. 

  

	 	(iii)	Certificate Regarding Representations in Section 6. A certificate, executed by Purchaser certifying that representations in Section 6 made by Purchaser under
this Agreement are true and complete in all material respects as of the Closing Date, as modified in the interim, or indicating any material and adverse change in any such representations. 

  

	 	(iv)	Miscellaneous. Other documents reasonably required to consummate the transaction this Agreement contemplates. 

 (d) Joint Closing Documents. On the Closing Date, Seller and Purchaser shall jointly execute and deliver the following
(collectively, the “Joint Closing Documents”): 
  

	 	(i)	Closing Statement. A Closing Statement in form and substance reasonably acceptable to both Seller and Purchaser and consistent with the terms of this Agreement, showing the
Purchase Price and all prorations, adjustments, credits and debits this Agreement describes. 

  

	 	(ii)	Assignment and Assumption of Lease. An Assignment and Assumption of Lease in the form of Exhibit J attached hereto. 

  

	 	(iii)	Assignment and Assumption of Contracts and Project Documents. An Assignment and Assumption of Contracts and Project Documents in the form of Exhibit K attached hereto.

  

 12 

	 	(iv)	Notice to Tenant. Written notice to the Tenant under the Lease advising Tenant of the sale of the Subject Property and directing Tenant to make future lease payments and to
send all notices or other communications to Purchaser at the place designated by Purchaser. 

  

	 	(v)	Transfer Tax Declaration. Property Transfer Affidavit in form required by the State of Michigan. 

  

	 	(vi)	Designation Agreement. A Designation Agreement executed by Seller, Purchaser and Title Company designating the “reporting person” for purposes of completing the
Internal Revenue Service Form 1099 and, if applicable, Internal Revenue Form 8594 (the “Designation Agreement”). 

  

	 	(vii)	Miscellaneous. Such other documents, instruments and affidavits as shall be reasonably necessary to consummate the transaction contemplated hereby. 

(e) Post-Closing Deliveries. Within a reasonable time following the Closing, Seller shall deliver, or cause to be delivered, the
following items to Purchaser: 
  

	 	(i)	Property Documents. Original copies of the Lease, the Permits, the Service Contracts (to the extent assumed by Purchaser), the Warranties, and copies of the Plans, to the
extent the same are in Seller’s possession and have not previously been delivered to Purchaser. 

  

	 	(ii)	Keys. All keys to locks on the Subject Property, in the possession or control of the Seller. 

  

	 	(iii)	Tenant Files. The current tenant files, including notices, financial information, and other information to the extent such items are in the possession of Seller and subject
to any confidentiality restrictions imposed upon Seller by the applicable tenant. 

 9. Adjustment and Prorations. For
purposes of calculating prorations, Purchaser shall be deemed to be in title to the Subject Property, and therefore entitled to the income therefrom and responsible for the expenses thereof, for the entire day upon which the Closing occurs. All such
prorations shall be made on the basis of the actual number of days of the year and month that shall have elapsed as of the Closing Date. In the event prorations cannot be calculated on the Closing Date, the amount of such prorations shall be
adjusted in cash after Closing, as and when complete and accurate information becomes available. Seller and Purchaser agree to cooperate and use their good faith and diligent efforts to make such adjustments within a reasonable time after the
calendar year end following Closing. Except for the proration of real estate taxes and operating expenses (which are paid by the Tenant directly and will not be prorated between the parties at Closing) and except as specifically provided otherwise
herein, items of income and expense for the period prior to the Closing Date will be for the account of Seller and items of income and expense for the period on and after the Closing Date will be for the account of Purchaser, all as determined by
the accrual method of accounting. The obligations of the parties pursuant to this Section 9 shall survive the Closing and shall not merge into any documents of conveyance delivered at Closing. 
 (a) Real Estate Taxes and Special Assessments. Seller and Purchaser acknowledge that Tenant is obligated to pay all real estate
taxes and special assessments for the Real Property directly to the applicable governmental authorities, and accordingly, there shall be no proration of real estate taxes and special assessments between Seller and Purchaser at Closing. 

 

 13 

 (b) Title Insurance. Seller shall pay all title examination fees of Title Company.
Seller shall pay the premium for standard coverage portion of the Owner’s Policy, without endorsements. Purchaser shall pay the costs of the extended coverage portion of the Owner’s Policy and all fees Title Company charges for
endorsements to the Owner’s Policy (including any additional premium required to modify the survey exception of such title policy to “shortages in area”). Purchaser shall pay all costs of any lender’s title insurance policy.

 (c) Survey Costs. Seller shall pay all costs of the Survey. 
 (d) Closing Fee. Seller and Purchaser shall each pay one-half of the closing fee or escrow fee Title Company charges. 

(e) Collected Rents. All collected net rent and other collected income under the Lease shall be prorated as of the Closing.
Seller shall be charged with any rent and other income collected by Seller before Closing but applicable to any period of time after Closing. Uncollected rent and other income shall not be prorated. Purchaser shall apply rent and other income from
Tenant that is collected by Purchaser after the Closing unless the Tenant properly identifies the payment as being for a specific item, in the following order: (i) first, to Purchaser in payment of the current rent due under the Lease,
(ii) second, to Purchaser in payment of delinquent rent due under the Lease for the period from and after the Closing, and (iii) third, to Seller in payment of rent coming due and payable prior to the Closing. Any prepaid rents for the
period following the Closing Date shall be paid over by Seller to Purchaser. Purchaser will make reasonable efforts, without suit, to collect any rents relating to the period before Closing by continuing to bill the Tenant for such unpaid rents.
After six (6) months from the Closing Date, to the extent Purchaser has not paid to Seller unpaid rents owing to Seller for periods prior to the Closing Date, Seller shall have the right to sue Tenant for delinquent rent so long as Seller does
not cause a termination of the Lease. Seller acknowledges and agrees that in the event Seller receives any rents and/or other charges payable by the Tenant to the landlord under the Lease applicable to the period after the Closing Date, Seller swill
promptly remit all such amounts to Purchaser. 
 (f) Operating Expenses. All taxes, insurance, utilities, common area
maintenance and other operating costs and expenses (collectively, “Operating Expenses”) incurred in connection with the ownership, operation, maintenance and management of the Subject Property are paid directly by the Tenant under its
Lease, and accordingly, there shall be no proration of Operating Expenses between Seller and Purchaser at Closing. 
 (g)
Security Deposits. Purchaser shall receive a credit against the Purchase Price in an amount equal to the sum of all unapplied cash security deposits in Seller’s possession owed to the Tenant, plus, if accrued interest on such security
deposits must be reimbursed to the Tenant that paid a security deposit, all interest accrued on such security deposits. If any security deposit shall be held by Seller in the form of transferable letters of credit or surety bonds, Seller shall
assign its rights thereunder to Purchaser and shall, at Closing, deliver such letters of credit to Purchaser and execute any transfer documents necessary to transfer the beneficiary’s interest in such letters of credit or bonds to Purchaser.

 (h) Recording Costs. Purchaser shall pay the cost of recording the Deed and all other recording costs. 

 

 14 

 (i) Leasing Commissions for Renewals, Expansions and Options. Purchaser shall be
responsible to pay any leasing commissions due or to become due with respect to the renewal, expansion or exercise of options on any Lease after the Closing Date, as set forth on Exhibit B-2. 
 (j) Attorneys’ Fees. Each party shall be responsible for its own attorneys’ fees in connection with the sale and purchase
or the Subject Property. 
 (k) Lease Credits. Seller shall provide Purchaser with credits against the Purchase Price
in the amounts set forth on Exhibit B-1, to the extent such tenant allowances have not been paid to Tenant prior to closing. 
 (l) Other Costs. All other costs shall be allocated in accordance with the customs prevailing in similar transactions in the metropolitan area where the Subject Property is located. 
 Except as otherwise expressly provided otherwise in this Agreement, all prorations provided for herein shall be final. 
 10. Default/Remedies. IN THE EVENT OF A BREACH OR DEFAULT BY SELLER IN CLOSING THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT, PURCHASER, AS ITS
SOLE AND EXCLUSIVE REMEDY, SHALL HAVE THE RIGHT EITHER (I) TO TERMINATE THIS AGREEMENT, RECEIVE A RETURN OF THE EARNEST MONEY, AND OBTAIN REIMBURSEMENT FROM SELLER OF PURCHASER’S ACTUAL OUT-OF-POCKET EXPENSES DOCUMENTED IN REASONABLE
DETAIL NOT TO EXCEED SEVENTY-FIVE THOUSAND DOLLARS ($75,000), OR (II) TO ENFORCE SPECIFIC PERFORMANCE OF THIS AGREEMENT, PROVIDED THAT ANY ACTION FOR SPECIFIC PERFORMANCE BE COMMENCED WITHIN NINETY (90) DAYS OF THE SCHEDULED CLOSING DATE (OR
SUCH LONGER PERIOD AS MAY BE REQUIRED BY LAW), AS THE SAME MAY HAVE BEEN EXTENDED PURSUANT TO THE PROVISIONS HEREOF. EXCEPT FOR THE SURVIVING INDEMNITY OBLIGATIONS, WHICH SHALL SURVIVE TERMINATION OF THE AGREEMENT, IN THE EVENT OF A BREACH OR
DEFAULT BY PURCHASER IN CLOSING THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT, SELLER, AS ITS SOLE AND EXCLUSIVE REMEDY, SHALL HAVE THE RIGHT TO TERMINATE THIS AGREEMENT AND RECEIVE THE EARNEST MONEY AS LIQUIDATED DAMAGES, IT BEING AGREED BY SELLER
AND PURCHASER THAT THE DAMAGES TO SELLER IN CASE OF DEFAULT BY PURCHASER MAY BE IMPOSSIBLE TO ASCERTAIN AND THAT THE EARNEST MONEY CONSTITUTES A FAIR AND REASONABLE AMOUNT OF DAMAGES IN THE CIRCUMSTANCES AND IS NOT A PENALTY. NOTHING HEREIN
CONTAINED SHALL LIMIT THE RIGHTS OR OBLIGATIONS OF THE PARTIES WITH RESPECT TO A DEFAULT UNDER THIS AGREEMENT OCCURRING AFTER THE CLOSING DATE, AND IN SUCH CASE THE PARTIES SHALL HAVE ALL RIGHTS AND REMEDIES AVAILABLE AT LAW, IN EQUITY OR OTHERWISE
INCLUDING, WITHOUT LIMITATION, THE RIGHT TO SPECIFIC PERFORMANCE, SUBJECT TO THE CONDITIONS AND LIMITATIONS HEREIN SET FORTH, INCLUDING, WITHOUT LIMITATION, THE PROVISIONS OF SECTION 6(B) HEREOF. NOTWITHSTANDING ANYTHING HEREIN TO THE
CONTRARY, NEITHER PARTY SHALL BE ENTITLED TO RECEIVE SPECIAL, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGES UNDER THIS AGREEMENT OR OTHER DOCUMENTS DELIVERED IN CONNECTION HEREWITH. 
 11. Damage. If, prior to the Closing Date, all or any part of the Improvements are substantially damaged by fire or other casualty, Seller shall
promptly give notice to Purchaser of such fact. Thereafter, at Purchaser’s option (to be exercised by Purchaser’s written notice to Seller given within fifteen (15) days after Seller’s initial notice to Purchaser), this Agreement
shall terminate with respect to 

  

 15 

 
the Subject Property. In the event of any such termination of this Agreement, neither party will have any further obligations under this Agreement (other
than the Surviving Indemnity Obligations, which obligations shall survive any such termination), that Purchaser shall, at the request of Seller, execute any document reasonably requested by Seller to evidence such termination including, without
limitation, a quit claim deed. If Purchaser fails to elect to terminate this Agreement (in the manner provided in this Section 11) despite such damage, or if the Improvements are damaged but not substantially, Seller shall promptly
commence to repair such damage or destruction and to return the damaged Improvements to substantially their condition prior to such damage. If such damage shall be completely repaired prior to the Closing Date, then there shall be no reduction in
the Purchase Price, and Seller shall retain the proceeds of all insurance related to such damage. If such damage shall not be completely repaired prior to the Closing Date, but Seller is diligently proceeding to repair, then there shall be no
reduction in the Purchase Price and Seller shall complete the repair after the Closing Date and shall be entitled to receive the proceeds of all insurance related to such damage; provided, however, that Purchaser shall have the right to delay the
Closing Date until repair is completed. For purposes of this Section 11, the phrase “substantially damaged” means (i) the cost to repair any damage to the Subject Property is estimated to exceed $1,000,000,
(ii) access to or parking on the Subject Property is adversely affected, (iii) the damage results in the Subject Property violating any laws or failing to comply with zoning or any covenants, conditions or restrictions affecting the
Subject Property, or (iv) the damage entitles the Tenant to terminate the Lease. 
 12. Condemnation. If, prior to the Closing
Date, eminent domain proceedings are commenced against all or any substantial part of the Subject Property, Seller shall immediately give notice to Purchaser of such fact and, at Purchaser’s option (to be exercised within fifteen (15) days
after Seller’s notice), this Agreement shall terminate with respect to the Subject Property. In the event of any such termination, neither party will have further obligations under this Agreement (other than the Surviving Indemnity Obligations,
which obligations shall survive any such termination), Purchaser shall, at the request of Seller, execute any document reasonably requested by Seller to evidence such termination including, without limitation, a quit claim deed. If Purchaser fails
to elect to terminate this Agreement in the manner provided in this Section 12, then there shall be no reduction in the Purchase Price, and Seller shall assign to Purchaser at the Closing Date all of Seller’s right, title and
interest in and to any award made or to be made in the condemnation proceedings. Prior to the Closing Date, Seller shall not designate counsel, appear in, or otherwise act with respect to the condemnation proceedings without Purchaser’s prior
written consent, which consent shall not be unreasonably withheld or delayed; provided, however, that if any action is necessary with respect to such proceeding to avoid any forfeiture or material prejudice, Seller shall be entitled to take such
action as and to the extent necessary without obtaining Purchaser’s prior written consent. For purposes of this Section, the words “substantial part” means (i) the amount of any condemnation award is estimated to exceed
$1,000,000, (ii) access to or parking on the Subject Property is adversely affected, (iii) the condemnation results in the Subject Property violating any laws or failing to comply with zoning or any covenants, conditions or restrictions
affecting the Subject Property, or (iv) the condemnation entitles the Tenant to terminate the Lease. 
 13. Broker’s
Commissions. Seller and Purchaser each represent to the other party that in connection with the transaction contemplated hereby, no third party broker or finder has been engaged or consulted by Seller or Purchaser or is entitled to compensation
or commissions in connection herewith other than CB Richard Ellis (the “Broker”). Seller shall pay to the Broker all commissions due to the Broker, pursuant to the commission agreement between Seller and Broker (the “Listing
Agreement”), at Closing, if the transaction contemplated by the Agreement is consummated. Seller shall defend, indemnify and hold harmless Purchaser from and against any and all claims of brokers, finders or any like third party claiming any
right to commissions or compensation by or through acts of Seller in connection herewith. Purchaser represents to Seller that in connection with the transaction contemplated hereby, no third party broker or finder has been engaged or consulted by
Purchaser or is entitled to compensation or 

  

 16 

 
commissions in connection herewith other than the commissions due to the Broker under the Listing Agreement. Purchaser shall defend, indemnify and hold
harmless Seller from and against any and all claims of brokers, finders or any like party claiming any right to commissions or compensation by or through acts of Purchaser in connection herewith. The indemnity obligations hereunder, in favor of both
Seller and Purchaser, shall include, without limitation, all damages, losses, risks, liabilities and expenses (including, without limitation, reasonable attorneys’ fees and costs) arising from and related to matters being indemnified hereunder;
provided, however, that the total liability of Seller with respect to the foregoing shall be subject to the conditions and limitations set forth in Section 6(b) hereof. No broker, finder or like party shall be entitled to rely (as a
third-party beneficiary or otherwise) on the provisions herein in claiming any right to commissions or compensation or otherwise. This Section 13 shall survive the expiration or termination of this Agreement or the Closing through the
Representation Notice Date. 
 14. Environmental Disclosure. Seller hereby discloses that the Real Property contains or contained such
hazardous materials (if any) as described in the environmental reports listed on Exhibit L attached hereto and made a part hereof (the “Reports”). Seller shall deliver the Reports to Purchaser within five (5) business days
following the execution of this Agreement, and Purchaser shall acknowledge receipt of the Reports. Purchaser acknowledges and agrees that the Reports are provided by Seller for informational purposes only and that Seller makes no representations or
warranties as to the accuracy or completeness of the Reports. Purchaser will conduct its own investigations and studies of the Subject Property as it deems necessary or appropriate in order to determine the presence or absence of hazardous materials
on or within the Subject Property. Subject to Section 5(a)(iii), Purchaser hereby (a) agrees that Purchaser is relying solely on its own investigation, if any, of the Subject Property covering the effect of any hazardous materials
that may be on about or within the Subject Property, whether disclosed by such investigations or not (collectively, the “Hazardous Materials Effect”), (b) acquires the Subject Property subject to the risk of any and all liabilities,
claims, demands, suits, judgments, losses, damages, expenses (including, without limitation, attorney’s fees) and other obligations arising out of or incurred in connection with the Hazardous Materials Effect, if any, and (c) waives and
releases Seller from all liabilities, claims demands, suits, judgments, losses, damages, and expenses relating to the Hazardous Materials Effect. 
 15. Assignment. Purchaser may not assign its rights under this Agreement without the prior written consent of Seller; provided, however, Purchaser may assign its rights under this Agreement to any trust, corporation, partnership or
limited liability company controlling, controlled by or under common control with Purchaser. For purposes hereof, “control” shall mean ownership (directly or indirectly) of 51% or more of the voting or comparable ownership interest of any
such trust, corporation, partnership or limited liability company. Any assignment shall be subject to all the provisions, terms, covenants and conditions of this Agreement and the assignor shall, in any event, continue to be and remain liable under
this Agreement, as it may be amended from time to time, as a principal and not as a surety, without notice to such assignor. Any such assignment and assumption shall be evidenced by a written agreement in form and substance reasonably acceptable to
Seller. Notwithstanding anything to the contrary, Purchaser shall have the right to assign this Agreement to an entity that is a real estate investment trust (“REIT”) (or that is wholly owned directly or indirectly by a REIT) for which
Purchaser or an affiliate of Purchaser acts as an investment advisor without the consent of Seller. 
  

 17 

 16. Notices. Any notice or other communication in connection with this Agreement shall be in
writing and shall be sent by nationally recognized overnight courier guaranteed next business day delivery, by telecopy or facsimile transmission (provided that such notice sent by facsimile is also sent via nationally recognized overnight courier
for guaranteed next business day delivery), or by personal delivery, properly addressed as follows: 
  

			
	If to Seller:	  	OIRE Michigan, L.L.C.
		  	10350 Bren Road West
		  	Minnetonka, MN 95343
		  	Attn: Vice President
		  	Facsimile No.: (952) 656-4750
		
	With a copy to:	  	Opus L.L.C.
		  	10350 Bren Road West
		  	Minnetonka, MN 55343
		  	Attn: Legal Department
		  	Facsimile No.: (952) 656-4755
		
	And a copy to:	  	Briggs and Morgan, Professional Association
		  	2200 IDS Center
		  	Minneapolis, MN 55402
		  	Attn: Charles R. Haynor, Esq.
		  	Facsimile No. (612) 977-8650
		
	If to Purchaser:	  	KBS Capital Advisors LLC
		  	205 West Wacker, Suite 1000
		  	Chicago, Il 60606
		  	Attn: William Rogalla
		  	Facsimile No.: (312) 726-6804
		
	With copies to:	  	KBS Capital Advisors LLC
		  	620 Newport Center Drive, Suite 1300
		  	Newport Beach, California 92660
		  	Attention: Jim Chiboucas, Esq.
		  	Facsimile No.: (949) 417-6523
		
		  	and
		
		  	Morgan, Lewis & Bockius LLP
		  	5 Park Plaza, Suite 1750
		  	Irvine, California 92606
		  	Attn: L. Bruce Fischer, Esq.
		  	Facsimile No.: (949) 399-7001

 All notices shall be deemed given one (1) business day following deposit if delivered to an overnight courier
guaranteeing next day delivery and on the same day if sent by personal delivery or by telecopy or facsimile transmission (with proof of transmission). Attorneys for each party shall be authorized to give notices for each such party. Notwithstanding
anything herein to the contrary, in the event any notice is required hereunder within a period of less than three (3) business days, such notice shall be given by facsimile transmission, personal delivery or overnight courier, all as provided
above. Any party may change its address for the service of notice by giving written notice of such change to the other party, in any manner above specified. 
  

 18 

 17. Captions. The section headings or captions appearing in this Agreement are for convenience
only, are not a part of this Agreement, and are not to be considered in interpreting this Agreement. 
 18. Entire Agreement;
Modification. This Agreement constitutes the entire agreement between the parties with respect to the subject matter herein contained, and all prior negotiations, discussions, writings and agreements between the parties with respect to the
subject matter herein contained are superseded and of no further force and effect. No covenant, term or condition of this Agreement shall be deemed to have been waived by either party, unless such waiver is in writing signed by the party charged
with such waiver. 
 19. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. 
 20. Controlling Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Michigan. 
 21. Severability. The unenforceability or invalidity of any provisions hereof shall not
render any other provision herein contained unenforceable or invalid. 
 22. “As Is” Sale. PURCHASER ACKNOWLEDGES THAT
EXCEPT AS SET FORTH IN THIS AGREEMENT OR IN THE DOCUMENTS SET FORTH IN SUBSECTIONS (i), (ii), (iii), (iv), and (v) OF SECTION 8(a), (A) NEITHER SELLER, NOR ANY OWNER, PRINCIPAL, AGENT, ATTORNEY,
EMPLOYEE, BROKER, OR OTHER REPRESENTATIVE OF SELLER, HAS MADE ANY REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE SUBJECT PROPERTY OR ANY MATTER RELATED THERETO, AND (B) PURCHASER IS NOT RELYING
ON ANY WARRANTY, REPRESENTATION, OR COVENANT, EXPRESS OR IMPLIED, WITH RESPECT TO THE CONDITION OF THE SUBJECT PROPERTY, AND THAT PURCHASER IS ACQUIRING THE SUBJECT PROPERTY IN ITS “AS-IS” CONDITION WITH ALL FAULTS, AND (C) PURCHASER
RELEASES SELLER, ITS PAST, PRESENT AND FUTURE EMPLOYEES, PARTNERS, OFFICERS, DIRECTORS, ATTORNEYS, AGENTS, ADMINISTRATORS, REPRESENTATIVES AND PREDECESSORS AND THEIR RESPECTIVE SUCCESSORS, ASSIGNS, EXECUTORS AND ADMINISTRATORS, AGENTS, EMPLOYEES,
REPRESENTATIVES, ATTORNEYS, AFFILIATES AND ALL PERSONS ACTING BY, THROUGH, UNDER OR IN CONCERT WITH ANY OF THEM (COLLECTIVELY, THE “RELEASEES”) AND EVERY ENTITY AFFILIATED WITH SELLER AND RELEASEES, FROM ALL ACTIONS, CAUSES OF ACTIONS,
SUITS, DEBTS, LIENS, CONTRACTS, AGENTS, OBLIGATIONS, PROMISES, RIGHTS, DEMANDS, CLAIMS, LIABILITIES, DAMAGES, JUDGMENTS, LOSSES, COSTS AND EXPENSES INCLUDING ATTORNEYS’ FEES, OF ANY NATURE WHATSOEVER KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED,
FIXED OR CONTINGENT, WHICH PURCHASER NOW HAS, OWNS, HOLDS OR CLAIMS TO HAVE, OWN OR HOLD, OR AT ANY TIME HERETOFORE HAD, OWNED, HELD, OR CLAIMED TO HAVE, OWN OR HOLD, AGAINST SELLER AND THE RELEASEES, RELATING TO THE CONDITION OF THE SUBJECT
PROPERTY. IN PARTICULAR, BUT WITHOUT LIMITATION, EXCEPT AS SET FORTH IN THIS AGREEMENT OR THE DOCUMENTS SET FORTH IN SUBSECTIONS (i), (ii), (iii), (iv), and (v) OF SECTION 8(a), SELLER MAKES NO
REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE PHYSICAL CONDITION OF THE SUBJECT PROPERTY, ANY PATENT OR LATENT DEFECTS AFFECTING THE SUBJECT PROPERTY OR ANY OTHER ASPECT OF THE SUBJECT PROPERTY, INCLUDING ANY ENTITLEMENTS FOR THE SUBJECT
PROPERTY, ANY GOVERNMENTAL LAWS AND REGULATIONS, INCLUDING, BUT NOT LIMITED TO, 

  

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ENVIRONMENTAL LAWS, ZONING AND LAND USE LAWS AND REGULATIONS, COVENANTS, CONDITIONS OR RESTRICTIONS, WHETHER OR NOT OF RECORD, TO WHICH THE SUBJECT PROPERTY
MAY BE SUBJECT, THE DEVELOPMENT, USE, CONSTRUCTION, MANAGEMENT OR OCCUPATION OF THE SUBJECT PROPERTY, INCLUDING, WITHOUT LIMITATION, THE IMPROVEMENTS CONSTRUCTED THEREON, THE PRESENCE OF ANY HAZARDOUS MATERIALS UNDER OR IN THE VICINITY OF THE
SUBJECT PROPERTY AND ANY HAZARDOUS MATERIAL EFFECTS, OR ANY OTHER MATTER RELATING TO THE SUBJECT PROPERTY. PURCHASER ACKNOWLEDGES AND AGREES THAT PURCHASER WILL CONDUCT ITS OWN INVESTIGATIONS AND STUDIES OF THE SUBJECT PROPERTY AND ALL ASPECTS
THEREOF, INCLUDING WITHOUT LIMITATION THE SUBJECT PROPERTY’S CHARACTERISTICS, ITS PHYSICAL CONDITION (INCLUDING ANY DEFECTS THEREIN), ALL LEGAL REQUIREMENTS APPLICABLE THERETO, THE OPERATION AND USE THEREOF, THE ENVIRONMENTAL CONDITION OF THE
SUBJECT PROPERTY AND ALL MATTERS DESCRIBED IN THE PRECEDING SENTENCE; IF FOR ANY REASON WHATSOEVER PURCHASER IS PRECLUDED BY SELLER FROM CONDUCTING SUCH INVESTIGATIONS AND STUDIES, PURCHASER SHALL BE REQUIRED TO GIVE WRITTEN NOTICE THEREOF TO SELLER
PRIOR TO THE CONTINGENCY DATE. PURCHASER’S WAIVERS APPLY TO ALL CLAIMS OF ANY NATURE WHATSOEVER, WHETHER KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, ABSOLUTE OR CONTINGENT, AND WHETHER OR NOT DISCOVERABLE BY PURCHASER, THAT PURCHASER NOW HOLDS
OR MAY HOLD AT ANY TIME IN THE FUTURE. 
 PURCHASER ACKNOWLEDGES AND AGREES THAT: (A) PURCHASER IS AN EXPERIENCED AND SOPHISTICATED
OWNER OF REAL PROPERTY; (B) PURCHASER HAS EXPRESSLY NEGOTIATED THE LIMITATIONS OF LIABILITY CONTAINED IN THIS SECTION; AND (C) THE LIMITATIONS CONTAINED IN THIS SECTION ARE REASONABLE. PURCHASER ACKNOWLEDGES AND AGREES THAT SELLER HAS
AGREED TO ENTER INTO THIS AGREEMENT IN CONSIDERATION FOR AND IN RELIANCE UPON THE FOREGOING LIMITATIONS OF LIABILITY, AND THAT THE CONSIDERATION UNDER THIS AGREEMENT IS BASED IN PART ON THE LIMITATIONS OF LIABILITY. THE PROVISIONS OF THIS SECTION
SHALL APPLY TO ANY CLAIM, LOSS OR DAMAGE, IRRESPECTIVE OF ITS CAUSE OR ORIGIN, AND REGARDLESS OF WHETHER IT IS BASED ON STRICT LIABILITY OR RESULTS FROM THE PASSIVE OR ACTIVE NEGLIGENCE OF SELLER AND/OR ANY RELEASEES. 
 23. Indemnification for Lease Claims. Seller will indemnify, defend and hold harmless Purchaser from any and all liabilities, claims, damages,
costs or expenses (including reasonable attorneys’ fees) arising from claims by Tenants under the Leases as a result of any obligations and duties of the landlord thereunder to the extent such obligations relate to events or circumstances
occurring prior to the Closing Date, except for claims relating to the physical condition of the Subject Property or any Hazardous Materials Effect. Purchaser and will indemnify, defend and hold harmless Seller from any and all liabilities, claims,
damages, costs or expenses (including reasonable attorneys’ fees) arising from claims by Tenants under the Leases as a result of any obligations and duties of landlord thereunder to the extent such obligations relate to events or circumstances
occurring from and after the Closing Date, except for claims relating to the physical condition of the Subject Property or any Hazardous Materials Effect existing as of the Closing Date. The indemnification obligations contained in this
Section 23 shall survive Closing. 
 24. Time of Essence. Time is of the essence of this Agreement. 
  

 20 

 25. Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 26. Interpretation. In the
event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any of the provisions of this Agreement. 
 27. Tax Deferred Exchange. Purchaser and Seller or their permitted assigns,
have the right to structure the sale of the Subject Property as part of one or more deferred exchanges in accordance with the provisions of Section 1031 of the Internal Revenue Code. Purchaser and Seller will make reasonable efforts to
cooperate with any such exchange requested by the other; so long as such exchange does not require Purchaser to execute any additional documentation other than a simple consent, and provided that: (i) the Closing Date hereunder will not thereby
be delayed, (ii) the cooperating Purchaser or Seller, as the case may be, does not incur any additional expense or liability, nor assume any personal liability in connection with a request by the other party to cooperate with said exchange,
(iii) the exchanging party shall not be released from its obligations under this Agreement if the exchanging party’s exchange fails for any reason, and the exchanging party shall remain obligated under this Agreement, (iv) the
cooperating party shall not be required to acquire title to any other real property (other than the Real Property), and (v) the exchanging party shall indemnify, defend and hold the cooperating party harmless from and against all expenses,
losses, costs (including, without limitation, reasonable attorneys’ fees), damages and claims resulting from the exchanging party’s exchange or attempted exchange. The cooperating party hereby disclaims any responsibility for the
qualification of the transactions contemplated by this Agreement as a tax-deferred exchange under Internal Revenue Code Section 1031, as amended, and the exchanging party agrees that the cooperating party shall not be liable for any tax
liability, interest or penalties arising thereunder by virtue of the cooperating party’s cooperation in the consummation of any such exchange or attempted exchange. 
 28. Return of Documents; Confidentiality. In the event that this Agreement is terminated or cancelled without Purchaser acquiring the Subject Property pursuant to the terms hereof, Purchaser shall, within five
(5) business days thereafter, deliver to Seller all due diligence materials delivered by Seller to Purchaser. Prior to the Closing, Purchaser agrees not to disclose any due diligence materials to third parties, except that Purchaser may
disclose such information to (i) those employed or engaged by Purchaser in connection with Purchaser’s due diligence investigations, (ii) to Purchaser’s attorneys, potential lenders, title and escrow officers and others involved
in connection with the transactions described in this Agreement, (iii) to Purchaser’s directors, officers, shareholders, and partners, (iv) to the extent required by law, subpoena or court order. Purchaser shall indemnify, defend and
hold Seller harmless from and against any and all claims, demands, causes of action, losses, damages, liabilities, judgments, costs and expenses (including attorney’s fees) asserted against or incurred by Seller as a result of any violation of,
or failure to comply with this Section 28. The obligations in this Section 28 shall survive Closing or termination of this Agreement. Notwithstanding the foregoing, nothing contained in this Agreement shall impair
Purchaser’s (or its permitted assignee’s) right to disclose information relating to this Agreement or the Subject Property (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 Purchaser or its permitted assignees, (b) in connection with any filings (including any amendment or supplement to any S-11 filing) with governmental agencies (including the
SEC) by any REIT holding an interest (direct or indirect) in any permitted assignee of Purchaser, and (c) to any broker/dealers in the REIT’s broker/dealer network and any of the REIT’s investors. 
  

 21 

 29. IRS Reporting Requirements. Seller and Purchaser acknowledge and agree that
Section 6045(e) of the Internal Revenue Code of 1986 requires that notice of the sale and purchase of the Subject Property described in this Agreement, be provided to the Internal Revenue Service (the “IRS”) by preparation of and
filing with the IRS of one or more IRS Form 1099-B; and further, Seller and Purchaser agree to furnish and provide the Title Company any and all information and documentation, including without limitation the Designation Agreement, that the Title
Company may require in order for the Title Company to (a) comply with all instructions to the IRS Forms 1099-B in the preparation thereof, and (b) prepare and timely file with the IRS said IRS Forms 1099-B with respect to this transaction.

 30. Attorneys’ Fees. If either party commences an action against the other to enforce this Agreement or because of the breach
by either party of this Agreement, the prevailing party in such action shall be entitled to recover reasonable attorney fees, costs, and expenses (including expert fees and costs) incurred in connection with the prosecution or defense of such
action, including any appeal, in addition to all other relief. 
 31. Computation of Time. The time in which any act is to be done
under this Agreement is computed by excluding the first day, and including the last day, unless the last day is a holiday or Saturday or Sunday, and then that day is also excluded. Unless expressly indicated otherwise, (a) all references to
time shall be deemed to refer to Pacific Standard Time, and (b) all time periods shall expire at 5:00 p.m., Pacific Standard Time. 
 32. Title Company Authorized to Complete Blanks. If necessary, Title Company is authorized to insert the Closing Date in any blanks in the Closing documents. 
 33. Schedule and Exhibits. The following schedule and exhibits are made a part hereof, with the same force and effect as if specifically set forth
herein: 
  

					
	Schedule 1	 	-	  	Due Diligence Materials
	Exhibit A	 	-	  	Legal Description
	Exhibit B	 	-	  	Schedule of Lease Documents
	Exhibit B-1	 	-	  	Outstanding Tenant Improvement Allowances;
		 		  	Incomplete Tenant Improvements
	Exhibit B-2	 	-	  	Outstanding Broker Commissions
	Exhibit C	 	-	  	Schedule of Permits and Licenses
	Exhibit D	 	-	  	Schedule of Service Contracts
	Exhibit E	 	-	  	Schedule of Warranties
	Exhibit F	 	-	  	Form of Earnest Money Escrow Agreement
	Exhibit G	 	-	  	Permitted Encumbrances
	Exhibit H	 	-	  	Form of Tenant Estoppel Certificate
	Exhibit I	 	-	  	Form of Special Warranty Deed
	Exhibit J	 	-	  	Form of Assignment and Assumption of Lease
	Exhibit K	 	-	  	Form of Assignment and Assumption of Contracts and Project Documents
	Exhibit L	 	-	  	List of Environmental Reports
	Exhibit M	 	-	  	Schedule of 3-14 Audit Documents

 [Signature Pages Follow] 
  

 22 

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

			
	SELLER:
	
	OIRE MICHIGAN, L.L.C., a Delaware limited liability company
		
	By:	 	/s/ Authorized Signatory
	Name:	 	  
	Its:	 	  

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

			
	PURCHASER:
	
	KBS CAPITAL ADVISORS LLC, a Delaware limited liability company
		
	By:	 	/s/ Authorized Signatory
	Name: 	 	  
	Title:

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