Document:

Promissory Note (related to the acquisition of the Sabal VI)

 Exhibit 10.66 
  

			
	 PROMISSORY NOTE SECURED BY MORTGAGE
	  	

  

			
	$11,040,000.00	 	Loan No. 31-0905767
		 	MERS MIN#: 800010100000048867
		 	San Francisco, California
		 	March 2, 2007

  

	1.	PROMISE TO PAY. For value received, the undersigned KBS SABAL VI, LLC, a Delaware limited liability company (“Borrower”), promise(s) to pay to the order of
WELLS FARGO BANK, NATIONAL ASSOCIATION (“Lender”), 1320 Willow Pass Road, Suite 205, Concord, California 94520, or at such other place as may be designated in writing by Lender, the principal sum of ELEVEN MILLION FORTY THOUSAND AND
NO/100THS DOLLARS ($11,040,000.00) (“Loan”), with interest thereon as specified herein. All sums owing hereunder are payable in lawful money of the United States of America, in immediately available funds, without offset, deduction or
counterclaim of any kind. 

  

	2.	SECURED BY MORTGAGE. This Note is secured by, among other things, that Mortgage and Absolute Assignment of Rents and Leases and Security Agreement (and Fixture Filing)
(“Mortgage”) of even date herewith given by Borrower for the benefit of Mortgage Electronic Registration Systems, Inc., a Delaware corporation, identifying this Note as an obligation secured thereby and encumbering certain real property
described therein (“Property”). 

  

	3.	DEFINITIONS. For the purposes of this Note, the following terms shall have the following meanings: 

 “30/360 Basis” means on the basis of a 360-day year consisting of 12 months of 30 days each. 
 “Actual/360 Basis” means on the basis of a 360-day year and charged on the basis of actual days elapsed for any whole or partial month in which
interest is being calculated. 
 “Allocated Share” shall mean at any time, and from time to time, an amount expressed as a
percentage that is calculated by dividing the cost basis of the Property by the cost basis of all real property owned directly or indirectly by the REIT or the REIT Operating Partnership. 
 “Business Day” means any day other than a Saturday, Sunday, legal holiday or other day on which commercial banks in California are authorized or
required by law to close. All references in this Note to a “day” or a “date” shall be to a calendar day unless specifically referenced as a Business Day. 
 “Cash Management Agreement” shall mean that certain Cash Management Agreement (Springing Hard) dated as of the date hereof between Borrower and
Lender. 
 “Cash Management Period” shall mean the occurrence of a Default. A Cash Management Period shall terminate in the event
that a Default has been cured. 
 “CCN Managed Care” means CCN Managed Care, Inc., a Delaware corporation. 
 “CCN Managed Care Lease” means that certain Lease Agreement dated as of December 9, 2005, by and between NCFLA II Owner LLC, a Delaware
limited liability company and CCN Managed Care, as the same has been amended from time to time. 
 “Code” means the Internal Revenue
Code of 1986, as amended to date and as further amended from time to time, or any successor statutes thereto, together with applicable regulations issued pursuant thereto in temporary or final form. 
 “Collateral” shall have the meaning stated in the Mortgage. 
 “Default” shall have the meaning stated in the Mortgage. 
  

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 “Default Rate” means the lesser of (a) a fixed annual rate equal to 5% plus the Note Rate
then in effect at the time of the Default, and (b) the maximum rate of interest permitted under applicable law. 
 “Defeasance”
means the Borrower’s substitution of Collateral and Lender’s release of the lien of the Mortgage upon satisfaction of all of the terms and conditions of Section 9. 
 “Defeasance Collateral” means obligations or securities selected by Borrower, not subject to prepayment, call or early redemption, each of which
qualifies as a “Government security” as defined in Section 2(a)(16) of the Investment Company Act of 1940, as amended (15 U.S.C. §80a-1 et seq.), together with all revenues and proceeds of such obligations or securities.

 “Defeasance Date” means the date upon which the Defeasance is completed. 
 “Defeasance Option End Date” means July 31, 2011. 
 “Defeasance Option Period” means the period from and including the Defeasance Option Start Date to and including the Defeasance Option End Date. 
 “Defeasance Option Start Date” means the earlier of (a) the twenty-fifth Due Date following the Startup Day of any REMIC which holds this
Note on the Defeasance Date and (b) three (3) years after the Effective Date. 
 “Defeasance Property” means any
Individual Property or Properties that are released from the lien of the Mortgage as a result of a Partial Defeasance. 
 “Defeasance
Security Agreements” means a pledge and security agreement and an account control agreement, each in form and substance customary in commercial mortgage defeasance transactions. 
 “Disbursement Date” means the date upon which the Loan proceeds are funded by Lender into escrow in connection with the closing of the Loan.

 “Due Date” means the first day of each calendar month during the period commencing on the First Due Date and ending on
September 1, 2011. 
 “Effective Date” means the earlier of (a) the date the Mortgage is recorded in the Public Records of
the county where the Property is located and (b) the date Lender authorizes the Loan proceeds to be released to Borrower. 
 “First
Due Date” means April 1, 2007. 
 “First Interest Only Due Date” means May 1, 2007. 
 “Ford” means Ford Motor Credit Company, a Delaware corporation. 
 “Ford Lease” means that certain Lease Agreement by and between Ford and NCFLA II Owner LLC, a Delaware limited liability company, dated as of January 11, 2007. 
 “Initial Rate” shall have the meaning set forth in the definition of “Note Rate.” 
 “Intercreditor Agreement” means that certain Intercreditor Agreement dated of even date herewith between Lender and Mezzanine Lender.

 “Interest Only Payment Amount” means a monthly payment of accrued interest based on the Note Rate and the outstanding principal
balance due on each Due Date commencing on the First Interest Only Due Date and continuing through and including the Maturity Date. 
 “Loan Documents” means the documents identified as such in Exhibit B. 
 “Maturity Date” means
October 1, 2011. 
  

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 “Mezzanine Borrower” means KBS REIT ACQUISITION X, LLC, a Delaware limited liability company.

 “Mezzanine Lender” means Wells Fargo Bank, National Association. 
 “Mezzanine Loan” means that certain loan from Mezzanine Lender to Mezzanine Borrower of even date herewith. 
 “Note Rate” means (a) a fixed annual rate of 5.14% during the period from the Disbursement Date until the Due Date in April, 2009 (the
“Initial Rate”) and (b) commencing on the Due Date in April, 2009, through the Maturity Date, a fixed annual rate of 5.84% (the “Revised Rate”). 
 “Open Period Start Date” means August 1, 2011. 
 “Permitted REIT Distributions”
shall mean, subject to compliance with the provisions of Section 14 hereof, distributions (directly or indirectly) by Borrower to the REIT (which indirectly owns 100% of Borrower) to the extent that, if not distributed to the REIT:
(A) the REIT would, as the result of the failure of Borrower to receive cash from the Property, be unable to distribute all REIT taxable income with respect to the Property, or (B) the REIT would, solely as a result of the failure of
Borrower to receive cash from the Property, fail to satisfy its obligations to pay REIT Operating Expenses. 
 “Prepayment Lockout End
Date” means July 31, 2011. 
 “Prepayment Lockout Period” means the period from and including the Effective Date to and
including the Prepayment Lockout End Date. 
 “Projection Period” shall have the meaning set forth in Section 14 hereof.

 “Rating Agencies” means Fitch, Inc., Moody’s Investors Service, Inc., Standard & Poor’s Rating Services and
any other nationally-recognized statistical rating organization that, in connection with the securitization of the Loan by a REMIC maintains a rating, on the Defeasance Date, of the securities issued by the REMIC. 
 “REIT” means KBS Real Estate Investment Trust, Inc. 
 “REIT Distribution Notice” shall have the meaning set forth in Section 14 hereof. 
 “REIT Operating Expenses” shall mean the Allocated Share of all actual costs, expenses and/or amounts incurred by, or payable or reimbursable by, the REIT or the REIT Operating Partnership for any of the following:
(a) charges and fees charged by banks, audit fees, tax preparation fees, legal fees (not including any legal fees incurred by Borrower at the property level or in any litigation or legal matter concerning Lender, including a bankruptcy filing
affecting Borrower), accounting consulting fees related to emerging technical pronouncements, tax consulting fees relating to REIT issues, due diligence costs and fees arising from state and local taxes, fees and expenses incurred in connection with
annual corporate filings, and local, state and federal income taxes, (b) professional fees related to corporate structuring and/or filings, consulting fees and filing fees arising from SEC reporting requirements including, without limitation,
10K filings, 10Q filings, and 8k filings, consulting fees and other fees and costs related to Sarbanes-Oxley 404 compliance requirements. 
 “REIT Operating Partnership” means KBS Limited Partnership, a Delaware limited partnership. 
 “REMIC” means a
“real estate mortgage investment conduit” within the meaning of Section 860D of the Code. 
 “Revised Rate” shall
have the meaning set forth in the definition of “Note Rate.” 
 “Startup Day” means the “startup day” within the
meaning of Section 860G(a)(9) of the Code. 
 “Successor Borrower” means an entity designated by Borrower and approved by
Lender using commercial standards customarily applied by prudent institutional mortgage lenders for similar loans, whose sole purpose is to own the Defeasance Collateral delivered by Borrower under Section 12 and assume Borrower’s
obligations with respect to the Loan either alone, or together with the Defeasance Collateral for other, previously defeased loans or portions of loans assumed by Successor Borrower which are also held by the REMIC that holds this Note. Successor
Borrower shall, in either case, be restricted from taking actions that could result in its bankruptcy or dissolution. 
  

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	1.	INTEREST; PAYMENTS. 

  

	 	1.1	Interest Accrual. Interest on the outstanding principal balance of this Note shall accrue from the Disbursement Date at the Note Rate calculated on an Actual/360
Basis. 

  

	 	1.2	Payments. Monthly payments, each in the Interest Only Payment Amount, shall commence on the First Interest Only Due Date and continue on each Due Date thereafter. In
addition, if the Disbursement Date is not the first day of a calendar month, an interest-only payment shall be due on the First Due Date. Borrower acknowledges that the Interest Only Payment Amount was determined using a 30/360 Basis despite the
fact that interest on this Note accrues on an Actual /360 Basis. During a Cash Management Period, and on each Due Date thereafter so long as a Cash Management Period is continuing, all deposits and payments shall be made and applied in accordance
with Section 4 of the Cash Management Agreement. All interest shall be paid in arrears. On the Maturity Date, all unpaid principal and accrued but unpaid interest shall be due and owing in full. Except as otherwise specifically provided in this
Note or the other Loan Documents, all payments and deposits due under this Note or the other Loan Documents shall be made to Lender not later than 12:00 noon, Pacific time, on the day on which such payment or deposit is due. Any funds received by
Lender after such time shall, for all purposes, be deemed to have been received on the next succeeding Business Day. 

  

	 	1.3	Acknowledgments. Borrower acknowledges that interest calculated on an Actual/360 Basis exceeds interest calculated on a 30/360 Basis and, therefore: (a) a greater
portion of each monthly installment of principal and interest will be applied to interest using the Actual/360 Basis than would be the case if interest accrued on a 30/360 Basis; and (b) the unpaid principal balance of this Note on the Maturity
Date will be greater using the Actual/360 Basis than would be the case if interest accrued on a 30/360 Basis. 

  

	 	1.4	Application of Payments. In the absence of a specific determination by Lender to the contrary, and subject to Borrower’s right to receive Permitted REIT
Distributions, all payments paid by Borrower to Lender in connection with the obligations of Borrower under this Note and under the other Loan Documents shall be applied in the following order of priority: (a) to amounts, other than principal
and interest, due to Lender pursuant to this Note or the other Loan Documents; (b) to accrued but unpaid interest on this Note; and (c) to the unpaid principal balance of this Note. Subject to the foregoing, Borrower irrevocably waives the
right to direct the application of any payments at any time received by Lender from or on behalf of Borrower, and Borrower agrees that Lender shall have the continuing exclusive right to apply any such payments to the then due and owing obligations
of Borrower in such order of priority as Lender may deem advisable. 

  

	2.	LATE CHARGE; DEFAULT RATE. 

  

	 	2.1	Late Charge. If all or any portion of any payment (including, without limitation, any payment of any interest, Interest Only Payment amount, impound or other deposit)
required pursuant to the Cash Management Agreement or hereunder (other than the payment due on the Maturity Date) is not paid or deposited on or before the fifth day following the day on which the payment is due, Borrower shall pay a late or
collection charge, as liquidated damages, equal to 5% of the amount of such unpaid payment. If all or any portion of the payment due on the Maturity Date is paid after the Maturity Date and on a date which is not the first day of a calendar month,
Borrower shall pay a late or collection charge, as liquidated damages, equal to the interest which would have accrued on such amount during the period commencing on the date payment of such amount is actually made and ending on the last day of the
calendar month in which payment of such amount is actually made. Borrower acknowledges that Lender will incur additional expenses as a result of any late payments or deposits hereunder, which expenses would be impracticable to quantify, and that
Borrower’s payments under this Section 5.1 are a reasonable estimate of such expenses. 

  

	 	2.2	Default Rate. Commencing upon a Default and continuing until such Default shall have been cured by Borrower, all sums owing on this Note shall bear interest until paid
in full at the Default Rate. 

  

	3.	 MAXIMUM RATE PERMITTED BY LAW. Neither this Note nor any of the other Loan Documents shall require the payment or permit the collection of any
interest or any late payment charge in excess of the maximum rate permitted by law. If any such excess interest or late payment charge is provided for under this Note or any of the other Loan Documents or if this Note or any of the other Loan
Documents shall be adjudicated to provide for such excess, neither Borrower nor Borrower’s successors or assigns shall be obligated to pay such excess, and the right to demand the payment of any such excess shall be and hereby is waived, and
this provision shall control any other provision of this 

  

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Note or any of the other Loan Documents. If Lender shall collect amounts which are deemed to constitute interest and which would increase the effective
interest rate to a rate in excess of the maximum rate permitted by law, all such amounts deemed to constitute interest in excess of the maximum legal rate shall, upon such determination, at the option of Lender, be returned to Borrower or credited
against the outstanding principal balance of this Note. 

  

	4.	ACCELERATION. If (a) Borrower shall fail to pay when due any sums payable under this Note following the expiration of notice, grace or cure periods, if any;
(b) any other Default shall occur; or (c) any other event or condition shall occur which, under the terms of the Mortgage or any other Loan Document, gives rise to a right of acceleration of sums owing under this Note following the
expiration of notice, grace or cure periods, if any, then Lender, at its sole option, shall have the right to declare all sums owing under this Note immediately due and payable; provided, however, that if the Mortgage or any other Loan Document
provides for the automatic acceleration of payment of sums owing under this Note, all sums owing under this Note shall be automatically due and payable in accordance with the terms of the Mortgage or such other Loan Document.

  

	5.	BORROWER’S LIABILITY. 

  

	 	5.1	Limitation. Except as otherwise provided in this Section 5, Lender’s recovery against Borrower under this Note and the other Loan Documents shall be limited
solely to the Property and the Collateral. 

  

	 	5.2	Exceptions. Nothing contained in Section 5.1 or elsewhere in this Note or the other Loan Documents, however, shall limit in any way the personal liability of
Borrower owed (except that there shall be no recourse under any circumstances to the direct or indirect constituent partners, members, shareholders, directors or officers of Borrower) to Lender (a) for any losses or damages incurred by Lender
(including, without limitation, any impairment of Lender’s security for the Loan) with respect to any of the following matters: (i) fraud or willful misrepresentation; (ii) intentional material physical waste of the Property or the
Collateral; (iii) failure to pay property or other taxes, assessments or charges (other than amounts paid to Lender for taxes, assessments or charges pursuant to Impounds as defined in Exhibit A and where Lender elects not to apply
such funds toward payment of the taxes, assessments or charges owed) when due to the extent that they create liens senior to the lien of the Mortgage on all or any portion of the Property; (iv) failure to deliver any insurance or condemnation
proceeds or awards or any security deposits received by Borrower to Lender or to otherwise apply such sums as required under the terms of the Loan Documents or any other instrument now or hereafter securing this Note; (v) failure to apply any
rents, royalties, accounts, revenues, income, issues, profits and other benefits from the Property which are collected or received by Borrower during the period of any Default or after acceleration of the indebtedness and other sums owing under the
Loan Documents to the payment of: (A) such indebtedness or other sums, (B) the normal and necessary operating expenses of the Property, (C) as otherwise provided under the Loan Documents; or (vi) any breach by Borrower of any
covenant in this Note or in the Mortgage regarding Hazardous Materials (as defined in the Mortgage) or any representation or warranty of Borrower regarding Hazardous Materials proving to have been untrue when made; (b) in the event the
Property or the Collateral shall become an asset in (i) a voluntary bankruptcy or insolvency proceeding or (ii) an involuntary bankruptcy or insolvency proceeding (other than one filed by Lender) which is not dismissed within 90 days of
filing; (c) in the event of a Default resulting from a Prohibited Property Transfer (as defined in the Mortgage) or a Prohibited Equity Transfer (as defined in the Mortgage), or (d) in the event of a Default resulting from Borrower’s
breach of any covenant contained in Section 3.1, Section 3.2, Section 3.4, or Section 3.5 of Exhibit A hereto. 

  

	 	5.3	No Release or Impairment. Nothing contained in Section 5.1 shall be deemed to release, affect or impair the indebtedness evidenced by this Note or the obligations
of Borrower under, or the liens and security interests created by the Loan Documents, or Lender’s rights to enforce its remedies under this Note and the other Loan Documents, including, without limitation, the right to pursue any remedy for
injunctive or other equitable relief, or any suit or action in connection with the preservation, enforcement or foreclosure of the liens, mortgages, assignments and security interests which are now or at any time hereafter security for the payment
and performance of all obligations under this Note or the other Loan Documents. 

  

	 	5.4	Prevail and Control. The provisions of this Section 5 shall prevail and control over any contrary provisions elsewhere in this Note or the other Loan Documents.

  

	6.	NON-MORTGAGOR BORROWER. If any Borrower is not also a Mortgagor (as defined in the Mortgage), such Borrower hereby makes all representations and warranties contained
in Article 5 of the Mortgage, all covenants contained in Section 6.15 of the Mortgage, and all indemnities contained in Section 6.19 of the Mortgage, jointly and severally with the Mortgagor, to and for the benefit of Mortgagee and
Mortgagee Group (both as defined in the Mortgage). 

  

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	7.	MISCELLANEOUS. 

  

	 	7.1	Joint and Several Liability. If this Note is executed by more than one person or entity as Borrower, the obligations of each such person or entity shall be joint and
several. No person or entity shall be a mere accommodation maker, but each shall be primarily and directly liable hereunder. 

  

	 	7.2	Waiver of Presentment. Except as otherwise provided in any other Loan Document, Borrower hereby waives presentment, demand, notice of dishonor, notice of default or
delinquency, notice of intent to accelerate, notice of acceleration, notice of nonpayment, notice of costs, expenses or losses and interest thereon, and notice of interest on interest and late charges. 

  

	 	7.3	Delay In Enforcement. No previous waiver or failure or delay by Lender in acting with respect to the terms of this Note or the Mortgage shall constitute a waiver of
any breach, default or failure of condition under this Note, the Mortgage or the obligations secured thereby. A waiver of any term of this Note, the Mortgage or of any of the obligations secured thereby must be made in writing signed by Lender,
shall be limited to the express terms of such waiver, and shall not constitute a waiver of any subsequent obligation of Borrower. The acceptance at any time by Lender of any past-due amount shall not be deemed to be a waiver of the right to require
prompt payment when due of any other amounts then or thereafter due and payable. 

  

	 	7.4	Time of the Essence. Time is of the essence with respect to every provision hereof. 

  

	 	7.5	Governing Law. This Note was accepted by Lender in the state of California and the proceeds of this Note were disbursed from the state of California, which state the
parties agree has a substantial relationship to the parties and to the underlying transaction embodied hereby. Accordingly, in all respects, including, without limiting the generality of the foregoing, matters of construction, validity,
enforceability and performance, this Note, the Mortgage and the other Loan Documents and the obligations arising hereunder and thereunder shall be governed by, and construed in accordance with, the laws of the state of California applicable to
contracts made and performed in such state and any applicable law of the United States of America, except that at all times the provisions for the creation, perfection and enforcement of the liens and security interests created pursuant thereto and
pursuant to the other Loan Documents shall be governed by and construed according to the law of the state where the Property is located. Except as provided in the immediately preceding sentence, Borrower hereby unconditionally and irrevocably
waives, to the fullest extent permitted by law, any claim to assert that the law of any jurisdiction other than California governs the Mortgage, this Note and the other Loan Documents. 

  

	 	7.6	Consent to Jurisdiction. Borrower irrevocably submits to the jurisdiction of: (a) any state or federal court sitting in the state of California over any suit,
action, or proceeding, brought by Borrower against Lender, arising out of or relating to this Note or the Loan evidenced hereby; (b) any state or federal court sitting in the state where the Property is located or the state in which
Borrower’s principal place of business is located over any suit, action or proceeding, brought by Lender against Borrower, arising out of or relating to this Note or the Loan evidenced hereby; and (c) any state court sitting in the county
of the state where the Property is located over any suit, action, or proceeding, brought by Lender to foreclose the Mortgage or any action brought by the Lender to enforce its rights with respect to the Collateral. Borrower irrevocably waives, to
the fullest extent permitted by law, any objection that Borrower may now or hereafter have to the laying of venue of any such suit, action, or proceeding brought in any such court and any claim that any such suit, action, or proceeding brought in
any such court has been brought in an inconvenient forum. 

  

	 	7.7	Counterparts. This Note may be executed in any number of counterparts, each of which when executed and delivered shall be deemed an original and all of which taken
together shall be deemed to be one and the same Note. 

  

	 	7.8	Heirs, Successors and Assigns. All of the terms, covenants, conditions and indemnities contained in this Note and the other Loan Documents shall be binding upon the
heirs, successors and assigns of Borrower and shall inure to the benefit of the successors and assigns of Lender. The foregoing sentence shall not be construed to permit Borrower to assign the Loan except as otherwise permitted in this Note or the
other Loan Documents. 

  

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	 	7.9	Severability. If any term of this Note, or the application thereof to any person or circumstances, shall, to any extent, be invalid or unenforceable, the remainder of
this Note, or the application of such term to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each term of this Note shall be valid and enforceable to the fullest extent
permitted by law. 

  

	 	7.10	Consents and Approvals. Wherever Lender’s consent, approval, acceptance or satisfaction is required under any provision of this Note or any of the other Loan
Documents, such consent, approval, acceptance or satisfaction shall not be unreasonably withheld, conditioned or delayed by Lender unless such provision expressly so provides. 

  

	 	7.11	Notices. All notices and other communications that are required or permitted to be given to a party under this Note shall be in writing and shall be sent to such
party, either by personal delivery, by overnight delivery service, by certified first class mail, return receipt requested, or by facsimile transmission to the address or facsimile number below. All such notices and communications shall be effective
upon receipt of such delivery or facsimile transmission. The addresses and facsimile numbers of the parties shall be: (with copies as set forth in Section 15 below) 

  

			
	Borrower:	  	Lender:
		
	KBS SABAL VI, LLC	  	Wells Fargo Bank, N.A.
	c/o KBS REIT ACQUISITION X, LLC	  	1320 Willow Pass Road, Suite 205
	620 Newport Center Drive, Suite 1300	  	Concord, CA 94520
	Newport Beach, CA 92660	  	Loan No. 31-0905767
	FAX No.: (949) 417-6518	  	FAX No.: (925) 691-5249

  

	 	7.12	Exhibits. Exhibits A and B attached hereto are incorporated herein by this reference. 

  

	8.	PREPAYMENT - DEFEASANCE ONLY. Borrower acknowledges that any prepayment of this Note will cause Lender to lose its interest rate yield on this Note and will possibly
require that Lender reinvest any such prepayment amount in loans of a lesser interest rate yield (including, without limitation, in debt obligations other than first mortgage loans on commercial properties). As a consequence, Borrower agrees as
follows, as an integral part of the consideration for Lender’s making the Loan: 

  

	 	8.1	Voluntary Prepayment. Any voluntary prepayment of this Note: (a) is prohibited during the Prepayment Lockout Period, and (b) is permitted in full only, and
not in part. 

  

	 	8.2	Prepayment Charge. 

  

	 	a.	Basic Charge. Except as provided below, if this Note is prepaid prior to the Open Period Start Date, whether such prepayment is involuntary or upon acceleration of the
principal amount of this Note by Lender following a Default, Borrower shall pay to Lender on the prepayment date (in addition to all other sums then due and owing to Lender under the Loan Documents) a prepayment charge equal to the greater of the
following two amounts: (i) an amount equal to 1% of the amount prepaid; or (ii) an amount equal to (A) the amount, if any, by which the sum of the present values as of the prepayment date of all unpaid principal and interest payments
required under this Note, calculated by discounting such payments from their respective Due Dates (or, with respect to the payment required on the Maturity Date, from the Maturity Date) back to the prepayment date at a discount rate equal to the
Periodic Treasury Yield (defined below) exceeds the outstanding principal balance of the Loan as of the prepayment date, multiplied by (B) a fraction whose numerator is the amount prepaid and whose denominator is the outstanding principal
balance of the Loan as of the prepayment date. For purposes of the foregoing, “Periodic Treasury Yield” means (iii) the annual yield to maturity of the actively traded non-callable United States Treasury fixed interest rate security
(other than any such security which can be surrendered at the option of the holder at face value in payment of federal estate tax or which was issued at a substantial discount) that has a maturity closest to (whether before, on or after) the
Maturity Date (or if two or more such securities have maturity dates equally close to the Maturity Date, the average annual yield to maturity of all such securities), as reported in The Wall Street Journal or other authoritative publication or news
retrieval service on the fifth Business Day preceding the prepayment date, divided by (iv) 12. 

  

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	 	b.	Additional Charge. If this Note is prepaid on any day other than a Due Date, whether such prepayment is voluntary, involuntary or upon full acceleration of the principal
amount of this Note by Lender following a Default, Borrower shall pay to Lender on the prepayment date (in addition to the basic prepayment charge described in Section 8.2 a above and all other sums then due and owing to Lender under this
Note and the other Loan Documents) an additional prepayment charge equal to the interest which would otherwise have accrued on the amount prepaid (had such prepayment not occurred) during the period from and including the prepayment date to and
including the last day of the calendar month in which the prepayment occurred. 

  

	 	c.	Exclusion. Notwithstanding the foregoing, no prepayment charge of any kind shall apply in respect to any prepayment resulting from Lender’s application of any insurance
proceeds or condemnation awards to the outstanding principal balance of the Loan. 

  

	 	8.3	Effect of Prepayment. No partial prepayment of this Note shall change any Due Date or the Interest Only Payment Amount, unless Lender otherwise agrees in writing.

  

	 	8.4	Waiver. Borrower waives any right to prepay this Note except under the terms and conditions set forth in this Section 8 and agrees that if this Note is prepaid,
Borrower shall pay the prepayment charge set forth above. Borrower hereby acknowledges that: (a) the inclusion of this waiver of prepayment rights and agreement to pay the prepayment charge for the right to prepay this Note was separately
negotiated with Lender; (b) the economic value of the various elements of this waiver and agreement was discussed; (c) the consideration given by Borrower for the Loan was adjusted to reflect the specific waiver and agreement negotiated
between Borrower and Lender and contained herein; and (d) this waiver is intended to comply with California Civil Code Section 2954.10. 

 Borrower’s Initials:              
  

	9.	DEFEASANCE-FULL. 

  

	 	9.1	Borrower Right to Defease. At any time during the Defeasance Option Period, Borrower may elect to effect a Defeasance in accordance with the provisions of this
Section 9, at Borrower’s sole cost and expense. 

  

	 	9.2	Conditions. Borrower shall only have the right to cause a Defeasance if all of the following conditions have been satisfied: 

  

	 	a.	Notice. Borrower shall give at least 60 days but not more than 90 days written notice to Lender specifying the Borrower’s intended Defeasance Date. Simultaneously with
the delivery of such notice, Borrower shall deposit with Lender an amount estimated by Lender to be sufficient to reimburse Lender’s anticipated expenses in connection with the Defeasance, for which Borrower shall be solely responsible whether
or not the Defeasance shall be completed. If any such notice shall have been given by Borrower, Borrower shall be obligated to complete the Defeasance on the Defeasance Date, unless such notice is revoked in writing by Borrower prior to the
Defeasance Date. Upon completion of the Defeasance or revocation by Borrower as specified above, Lender shall return any surplus deposit to Borrower; 

  

	 	b.	No Default. No Default shall exist or would exist with notice or passage of time, or both, either on the date of receipt of Borrower’s notice under
Section 9.2 a above or on the Defeasance Date; 

  

	 	c.	Payments. Borrower shall pay in full, on or before the Defeasance Date (i) all unpaid interest accruing under this Note to and including the Defeasance Date (or
otherwise cause Successor Borrower to assume liability for such interest), (ii) all other sums due under this Note and the other Loan Documents on or before the Defeasance Date, (iii) all escrow, closing, recording, legal, appraisal,
Rating Agency and other fees, costs and expenses paid or incurred by Lender or its agents in connection with the Defeasance, the release of the lien of the Mortgage on the Property, the review of the proposed Defeasance Collateral and the
preparation of the Defeasance Security Agreements and related documentation, and (iv) any revenue, documentary stamp, intangible or other taxes, charges or fees due in connection with the transfer or assumption of this Note or the Defeasance;

  

	 	d.	Deliveries. Borrower shall, at Borrower’s sole cost and expense, deliver the following items to Lender on or before the Defeasance Date: 

  

	 	(i)	The Defeasance Collateral, as substitute collateral for the Loan, provided, however, the principal and interest payments under the Defeasance Collateral (without regard to earnings
from reinvestment of proceeds) must be, in timing and amounts, sufficient to provide for payment prior, but as close as possible, to (A) all Due Dates occurring after the Defeasance Date, with each such payment being equal to or greater than
the amount of the corresponding Interest Only Payment Amount and (B) the Maturity Date (with such payment being equal to or greater than the amount of the principal and interest payment due on the Maturity Date); and provided further, however,
that Borrower shall take such actions, enter such agreements and issue such orders or directions (including those specified below), as are necessary or appropriate and in accordance with customary commercial standards to effectuate book-entry
transfers and pledges through the book-entry facilities of the institution holding the Defeasance Collateral or otherwise to create and perfect a valid, enforceable, first priority security interest in the Defeasance Collateral in favor of Lender;

  

 8 

	 	(ii)	The Defeasance Security Agreements creating, attaching and perfecting a first priority security interest in favor of Lender in the Defeasance Collateral under the law of the
jurisdiction selected by Lender, which agreements shall provide, among other things, that all payments generated by the Defeasance Collateral shall be paid directly to Lender and applied by Lender to amounts then due and payable under this Note;

  

	 	(iii)	A certificate of Borrower certifying that all of the requirements of this Section 9 have been satisfied; 

  

	 	(iv)	Opinions of counsel for Borrower, addressed to Lender and all Rating Agencies and delivered by counsel satisfactory to Lender, subject only to customary assumptions, qualifications
and exceptions, stating, among other things, that (A) Lender has a perfected first priority security interest in the Defeasance Collateral, (B) the Defeasance Security Agreements are enforceable against Borrower in accordance with their
terms and (C) any REMIC that holds this Note immediately prior to the Defeasance Date will not, as a result of the Defeasance, fail to maintain its status as a REMIC; 

  

	 	(v)	A certificate, addressed to Lender and all Rating Agencies, from a firm of independent certified public accountants acceptable to Lender, subject only to customary assumptions,
qualifications and exceptions, certifying that the Defeasance Collateral satisfies the requirements of Section 9.2 d(i) above and certifying that in no fiscal year of Successor Borrower will the interest earned on the Defeasance Collateral
exceed the interest payable for the same period on the Loan under this Note; 

  

	 	(vi)	If this Note is held by a REMIC, written evidence from all of the Rating Agencies that the Defeasance will not result in a downgrading, withdrawal or qualification of the respective
ratings in effect immediately prior to the Defeasance for any securities representing interests in such REMIC which are then outstanding; and 

  

	 	(vii)	Such other certificates, opinions, documents or instruments as are customary in commercial mortgage defeasance transactions to effect the Defeasance. 

  

	 	e.	Release of Lien. Upon satisfaction of all conditions specified in this Section 9, the Property and the Collateral shall be released from the lien of the Mortgage and the
other Loan Documents, and the Defeasance Collateral and the proceeds thereof shall constitute the only collateral securing the obligations of Borrower under this Note and the other Loan Documents. Lender shall, at Borrower’s expense, prepare,
execute and deliver any instruments reasonably necessary to release the lien of the Mortgage from the Property and the Collateral. Lender will cooperate with Borrower in structuring the defeasance such that the securities selected by Borrower can be
held by a trust or other entity in which Lender is the beneficiary, provided that the same satisfies the requirements of all Rating Agencies and all REMIC requirements for the defeasance. 

  

	 	f.	 Assignment and Assumption. In connection with the Defeasance, Borrower shall, at the request of Lender, assign all of its right, title and interest in and to
the pledged Defeasance Collateral and all its obligations and rights under this Note and the Defeasance Security Agreements to Successor Borrower. 

  

 9 

 
Successor Borrower shall execute an assumption agreement in form and substance customary in commercial mortgage defeasance transactions, pursuant to which it
shall assume Borrower’s obligations under this Note and the Defeasance Security Agreements. As conditions to such assignment and assumption, Borrower shall (i) deliver to Lender opinions of counsel addressed to Lender and all Rating
Agencies, in form and substance customary in commercial Defeasance transactions and delivered by counsel satisfactory to Lender, and subject only to customary assumptions, qualifications and exceptions, stating, among other things, that such
assumption agreement is enforceable against Borrower and Successor Borrower in accordance with its terms and that this Note and the Defeasance Security Agreements, as so assumed, are enforceable against Successor Borrower in accordance with their
respective terms, and that the bankruptcy of any affiliate of Successor Borrower will not affect the assets of Successor Borrower; and (ii) pay all costs and expenses incurred by Lender or its agents in connection with such assignment and
assumption (including, without limitation, the formation or review of Successor Borrower and the preparation of the assumption agreement and related documentation). Upon such assumption by Successor Borrower, Borrower shall be relieved of its
obligations under this Note, the Defeasance Security Agreements and the other Loan Documents other than (iii) representations and warranties made in connection with the Defeasance, (iv) the obligation to effect the Defeasance in accordance
with this Section 9, and to provide further assurances as necessary to do so, (v) liability for losses to Lender resulting from an avoidance, rescission or set-aside of the Defeasance as a result of actions taken or suffered by Borrower,
and (vi) those obligations which are specifically intended to survive the repayment of the Loan or other termination, satisfaction or assignment of this Note, the Defeasance Security Agreements or the other Loan Documents or Lender’s
exercise of its rights and remedies under any of such documents and instruments. 
  

	10.	WAIVER OF JURY TRIAL. TO THE EXTENT NOW OR HEREAFTER PERMITTED BY APPLICABLE LAW, LENDER AND BORROWER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS THEY
MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS NOTE OR ANY OTHER LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR
ACTIONS OF LENDER OR BORROWER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR LENDER TO MAKE THE LOAN TO BORROWER. 

  

	14.	PERMITTED REIT DISTRIBUTIONS. Borrower’s right to make Permitted REIT Distributions shall be subject to the following terms and conditions. At least 14 days prior
to the end of the then current Projection Period (as defined below), Borrower shall deliver to Lender: (a) written notice setting forth an estimate of the REIT’s taxable income for the Property and the Permitted REIT Operating Expenses
(the “REIT Distribution Notice”) for the immediate succeeding period of no less than one fiscal quarter and no more than one fiscal year (each, a “Projection Period”), which REIT Distribution Notice shall also set forth the
amount of cash flow from the Property needed to make Permitted REIT Distributions related to such Projection Period, and (b) written confirmation from Ernst & Young or another “Big 4” accounting firm that the estimate of the
REIT’s taxable income generated by the Property for the applicable Projection Period, as reflected in the REIT Distribution Notice, is a reasonable estimate of the same, all in form and substance reasonably acceptable to Lender. Such estimate
shall be based on (1) the REIT’s actual taxable income for the Property and the actual Permitted REIT Operating Expenses for the then current calendar year and (2) the REIT’s projected taxable income for the Property and the
projected Permitted REIT Operating Expenses for the remainder of such calendar year. Within 30 days following the end of each fiscal quarter, Borrower shall deliver to Lender a statement of the REIT’s actual taxable income for the Property and
the actual Permitted REIT Operating Expenses for the immediately ended fiscal quarter and evidence supporting such statement and (A) if the Permitted REIT Distributions made for such fiscal quarter exceeded the estimate set forth in the REIT
Distribution Notice applicable to such fiscal quarter, the estimate of the Permitted REIT Distributions for the immediately succeeding fiscal quarter shall be adjusted to reduce the estimated amount of the Permitted REIT Distributions by the amount
of such excess and (B) if the Permitted REIT Distributions made for such fiscal quarter was less than the estimate set forth in the REIT Distribution Notice applicable to such fiscal quarter, the estimate of the Permitted REIT Distributions for
the immediately succeeding fiscal quarter shall be adjusted to increase the estimated amount of the Permitted REIT Distributions by the amount of such shortfall. Notwithstanding anything stated to the contrary in this Note (including the provisions
of Exhibit A attached hereto), Lender acknowledges and agrees that, at all times prior to the Maturity Date, the funding of all reserves and other amounts are expressly subject to the provisions permitting disbursement to Borrower of
Permitted REIT Distributions as provided herein. 

  

 10 

	15.	ADDITIONAL NOTICES. Copies of any notice to the Borrower shall also be sent to the following persons in the same manner as set forth in Section 10.11 above:

  

			
	Stacie Yamane	  	Robin Burke
	KBS Realty Advisors LLC	  	KBS Capital Advisors LLC
	620 Newport Center Drive, Suite 1300	  	1133 21st Street NW, Suite 400
	Newport Beach, CA 92660	  	Washington, DC 20036
	FAX No.: (949) 417-6520	  	FAX No.: (202) 822-1340

 L. Bruce Fischer 
 Morgan, Lewis & Bockius LLP 
 5 Park Plaza, Suite 1750 
 Irvine, CA 92614 
 FAX No.:
(949) 399-7001 
  

 11 

									
	“BORROWER”
	
	 KBS SABAL VI, LLC,
 a Delaware limited
liability company

		
	By:	 	KBS REIT ACQUISITION X, 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

  

	
	WITNESS/ATTEST:
	
	 /s/ Witness Signatory

	
	 /s/ Witness Signatory

 (ALL SIGNATURES MUST BE WITNESSED BY TWO WITNESSES, AND THE NAMES MUST BE PRINTED BENEATH THE SIGNATURE)

  

 12 

 Loan No. 31-0905767 
 EXHIBIT A TO PROMISSORY NOTE 
 Additional Terms And Conditions 
 This Exhibit A is attached to and forms a part of that Promissory Note (“Note”) executed by KBS SABAL VI, LLC, a Delaware limited liability company
(“Borrower”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Lender”). 
  

	1.	DISBURSEMENT OF LOAN PROCEEDS; LIMITATION OF LIABILITY. Borrower hereby authorizes Lender to disburse the proceeds of the Loan, after deducting any and all fees owed
by Borrower to Lender in connection with the Loan, to Commercial Property Title, LLC. With respect to such disbursement, Borrower understands and agrees that Lender does not accept responsibility for errors, acts or omissions of others, including,
without limitation, the escrow company, other banks, communications carriers or clearinghouses through which the transfer of Loan proceeds may be made or through which Lender receives or transmits information, and no such entity shall be deemed
Lender’s agent. As a consequence, Lender shall not be liable to Borrower for any actual (whether direct or indirect), consequential or punitive damages which may arise with respect to the disbursement of Loan proceeds, whether or not
(a) any claim for such damages is based on tort or contract, or (b) either Lender or Borrower knew or should have known of the likelihood of such damages in any situation. 

  

	2.	FINANCIAL STATEMENTS. 

  

	 	2.1	Statements Required. During the term of the Loan and while any liabilities of Borrower to Lender under any of the Loan Documents remain outstanding and unless Lender
otherwise consents in writing, Borrower shall provide to Lender the following: 

  

	 	a.	Operating Statement. Not later than 10 days after and as of the end of each calendar month during the period prior to any sale of the Loan, and thereafter not later than
30 days after and as of the end of each calendar quarter, an operating statement, signed and dated by Borrower, showing all revenues and expenses during such month or quarter and year-to-date, relating to the Property, including, without
limitation, all information requested under any of the Loan Documents; 

  

	 	b.	Rent Roll. Not later than 10 days after and as of the end of each calendar month during the period prior to any sale of the Loan, and thereafter not later than
30 days after and as of the end of each calendar quarter, a rent roll signed and dated by Borrower, showing the following lease information with regard to each tenant: the name of the tenant, monthly or other periodic rental amount, dates of
commencement and expiration of the lease, and payment status; 

  

	 	c.	Balance Sheet. If requested by Lender, not later than 90 days after and as of the end of each fiscal year, a balance sheet, signed and dated by Borrower, showing all
assets and liabilities of Borrower; and 

  

	 	d.	Other Information. From time to time, upon Lender’s delivery to Borrower of at least 10 days’ prior written notice, such other information with regard to
Borrower, principals of Borrower, guarantors or the Property as Lender may reasonably request in writing. 

  

	 	2.2	Form; Warranty. Borrower agrees that all financial statements to be delivered to Lender pursuant to Section 2.1 shall: (a) be complete and correct;
(b) present fairly the financial condition of the party; (c) disclose all liabilities that are required to be reflected or reserved against; and (d) be prepared in accordance with the same accounting standard used by Borrower to
prepare the financial statements delivered to and approved by Lender in connection with the making of the Loan or other accounting standards acceptable to Lender. Borrower shall be deemed to warrant and represent that, as of the date of delivery of
any such financial statement, there has been no material adverse change in financial condition, nor have any assets or properties been sold, transferred, assigned, mortgaged, pledged or encumbered since the date of such financial statement except as
disclosed by Borrower in a writing delivered to Lender. Borrower agrees that all rent rolls and other information to be delivered to Lender pursuant to Section 2.1 shall not contain any misrepresentation or omission of a material fact.

  

 EXHIBIT A 
 1 

	3.	IMPOUNDS. 

  

	 	3.1	Tax Impound. Borrower shall deposit with Lender the following amounts (collectively, “Tax Impound”): Upon the occurrence of a Default, and on each Due Date
thereafter during the continuance of a Default, an amount estimated from time to time by Lender in its sole discretion to be sufficient to pay the taxes, assessments and other liabilities payable by Borrower under Section 6.9 of the Mortgage
(“Taxes”) at least 45 days prior to each date on which Taxes become delinquent (“Delinquency Date”). If Lender determines at any time while a Default exists that that the Tax Impound, if any, will not be sufficient to pay
any Taxes at least 45 days prior to the Delinquency Date, Lender shall notify Borrower of such determination and Borrower shall deposit with Lender the amount of such deficiency not more than 10 days after Borrower’s receipt of such
notice; provided, however, if Borrower receives notice of any such deficiency less than 45 days prior to the Delinquency Date, Borrower shall deposit the amount of such deficiency with Lender not more than 3 Business Days after Borrower’s
receipt of such notice but in no event later than the Business Day immediately preceding the Delinquency Date. 

  

	 	3.2	Insurance Impound. Borrower shall deposit with Lender the following amounts (collectively, “Insurance Impound”): Upon the occurrence of a Default and on each
Due Date thereafter during the continuance of a Default, an amount estimated from time to time by Lender in its sole discretion to be sufficient to pay the premiums for insurance required to be maintained by Borrower under Section 6.10 of the
Mortgage (“Insurance Premiums”) at least 45 days prior to the date on which the current such insurance policies expire (“Insurance Expiration Date”). If Lender determines at any time while a Default exists that the Insurance
Impound, if any, will not be sufficient to pay the Insurance Premiums at least 45 days prior to the Insurance Expiration Date, Lender shall notify Borrower of such determination and Borrower shall deposit with Lender the amount of such deficiency
not more that 10 days after Borrower’s receipt of such notice; provided, however, if Borrower receives notice of any such deficiency less than 45 days prior to the Insurance Expiration Date, Borrower shall deposit the amount of such deficiency
with Lender not more than 3 Business Days after Borrower’s receipt of such notice but in no event later than the day immediately preceding the Insurance Expiration Date. 

  

	 	3.3	[Intentionally Omitted]. 

  

	 	3.4	General TI Impound. Borrower shall deposit with Lender the following amounts (collectively, “General TI Impound”): Upon the occurrence and during the
continuance of a Default, an amount equal to $13,125, multiplied by the number of months between the Disbursement Date and the date of the Default, and $13,125 on each Due Date thereafter so long as a Default exists for tenant improvements, leasing
commissions and other leasing costs (collectively, “Leasing Costs”) that may be required for new or renewal tenants in the Property. Following Borrower’s cure of the Default creating the General TI Impound, Lender shall disburse all
funds from the General TI Impound to Borrower During the continuance of a Default, Lender shall disburse funds from the General TI Impound to Borrower monthly, on a space by space basis. The portion of the General TI Impound to be disbursed with
respect to any space (“General TI Impound Allocation”) shall equal an amount determined by multiplying the total number of rentable square feet contained in such space by $21.00 if such space is leased to a new tenant or $8.15 if such
space is leased to a renewal tenant. Lender shall disburse funds from the General TI Impound Allocation for any space upon Lender’s receipt and approval of each of the following with respect to such space: 

  

	 	a.	Borrower’s written request for such disbursement, including the name of the tenant and the location and total net rentable square feet contained in such space;

  

	 	b.	a complete copy of a fully executed new lease of such space or a renewal or extension of the current lease of such space for a term of not less than three years at market rent,
certified by Borrower to be such; 

  

	 	c.	with respect to any disbursement which, when added to all prior disbursements, is 90% or less of the original General TI Impound Allocation for such space: 

 

	 	(i)	a reasonably detailed description and cost breakdown of the Leasing Costs to be paid or reimbursed from the disbursement (“Cost Breakdown”); 

  

 EXHIBIT A 
 2 

	 	(ii)	Borrower’s certification that: 

  

	 	A.	the Cost Breakdown is accurate to Borrower’s actual knowledge, after reasonable investigation and inquiry of the contractor, and all tenant improvements shown in the Cost
Breakdown have been completed lien-free, in a workmanlike manner and in accordance with the requirements of the lease and all laws; 

  

	 	B.	Borrower has actually paid or incurred the Leasing Costs to be paid or reimbursed from the disbursement; and 

  

	 	(iii)	if required by Lender, such other evidence as may be reasonably necessary to verify the current accuracy of the certification and any inspection report, the costs of which shall be
paid by Borrower; and 

  

	 	d.	with respect to any disbursement which, when added to all prior disbursements, is more than 90% of the original General TI Impound Allocation for such space:

  

	 	(i)	a current estoppel certificate executed jointly and severally by the tenant of the space and Borrower which shall include, without limitation, their acknowledgment that:

  

	 	A.	the lease is in full force and effect and neither Borrower nor the tenant is in default thereunder; 

  

	 	B.	all tenant improvements required under the lease have been satisfactorily completed; 

  

	 	C.	all conditions to the tenant’s occupancy of the space and the payment of rent have been satisfied; and 

  

	 	D.	the tenant is in actual occupancy of and conducting business in the space; and 

  

	 	(ii)	if required by Lender, such other evidence as may be reasonably necessary to verify the current accuracy of the estoppel certificate, the costs of which shall be paid by Borrower.

  

	3.5	Capital Expenditures Impound. Borrower shall deposit with Lender the following amounts (collectively, “Capital Expenditures Impound”): Upon the occurrence of
a Default, an amount equal to $1,606, multiplied by the number of months between the Disbursement Date and the date of the Default, and $1,606 on each Due Date thereafter so long as a Default exists for payment or reimbursement of the Capital
Expenditures (defined below. Following Borrower’s cure of the Default creating the Capital Expenditures Impound, Lender shall disburse all funds from the Capital Expenditures Impound to Borrower. 

 “Capital Expenditures” shall mean major repairs and replacements to maintain or improve the Property, including, without limitation, structural
repairs, roof replacements, HVAC repairs and replacements, mechanical and plumbing repairs and replacements and boiler repair and replacements. 
  

	3.6	Cash Management. Borrower shall enter into that certain Cash Management Agreement (Springing Hard) dated as of even date herewith among Borrower, Lender, as
“Lender”, and Lender, as “Depository,” which shall govern the collection and disbursement of all Gross Income (as defined in the Cash Management Agreement) during a Cash Management Period. 

  

	3.7	Disbursement. Lender shall disburse any Impounds to Borrower through a funds transfer of such Impounds initiated by Lender to the following account or such other
account as Borrower specifies in a notice to Lender: 

  

					
	 Bank Name:
	  	  
	  	
	 ABA Routing No.:
	  	  
	  	
	 Account Name:
	  	  
	  	
	 Reference:
	  	  
	  	
	 Advise:
	  	  
	  	

 Lender shall determine the funds transfer system and other means to be used in making each such
disbursement. Borrower agrees that each such funds transfer initiated by Lender shall be deemed to be a funds transfer properly authorized by Borrower, even if the transfer is not actually properly authorized by Borrower. Borrower acknowledges that
Lender shall rely on the account number and ABA routing number set forth above or specified in a notice from Borrower to Lender, even if such account number identifies an account with a name different from the name so specified, or the routing
number identifies a bank different from the bank so specified. If Borrower learns of any error in the transfer of any Impounds or of any transfer which was not properly authorized, Borrower shall notify Lender as soon as possible in writing but in
no case more than 14 days after Lender’s first confirmation to Borrower of such transfer. 
  

 EXHIBIT A 
 3 

	 	3.8	General. All deposits required to be made by Borrower under this Section 3 constitute Impounds (as defined in the Mortgage) and reference is made to the Mortgage
for other provisions regarding Impounds, including, without limitation, a description of the account(s) into which Impounds shall be deposited. Lender shall have the right to enter upon the Property at all reasonable times to inspect any work for
which Impounds are now or hereafter required but Lender shall not be obligated to supervise or inspect any such work or to inform Borrower or any third party regarding any aspect of any such work. Borrower shall pay to Lender all reasonable fees,
costs and expenses charged, paid or incurred by Lender from time to time in connection with any request of Borrower for a disbursement of funds from the Impounds (other than the Tax Impound and the Insurance Impound). Borrower authorizes Lender to
disburse directly to Lender, from the Impounds or from funds to be disbursed to Borrower from the Impounds, such sums as may be necessary, at any time and from time to time, to pay all such fees, costs and expenses. Notwithstanding anything stated
to the contrary in the Loan Documents (but subject to the Lender’s rights to retain a portion of the Termination Payment (as defined in the Deed of Trust) applicable to the CCN Managed Care Lease, as set forth in Section 3.4.I.b of the
Deed of Trust), and excluding any cash deposit made by or on behalf of the Borrower in lieu of the Repayment Guaranty, the funding of all Impounds and reserves required hereunder or in any of the other Loan Documents (including, without limitation,
for Tax and Insurance Impounds, Deferred Maintenance, Capital Expenditure Impounds and Retenanting Impounds) shall be subject to Permitted REIT Distributions. 

  

	 	4.	TWO-TIME RIGHT OF TRANSFER OF PROPERTY. Notwithstanding anything to the contrary contained in Section 6.15 of the Mortgage, Lender shall, two times only, consent
to the voluntary sale or exchange of all of the Property by Mortgagor (as defined in the Mortgage) so long as no Default has occurred and is continuing and all of the following conditions precedent have been satisfied: 

  

	 	4.1	Notice. Lender’s receipt of not less than 60 days’ prior written notice of the proposed sale or exchange; 

  

	 	4.2	Credit Review and Underwriting. Lender’s reasonable determination that the proposed purchaser, the proposed guarantor(s), if any, and the Property all satisfy
Lender’s then applicable credit review and underwriting standards, taking into consideration, among other things, (a) any decrease in the Property’s cash flow which would result from any increase in real property taxes due to any
anticipated reassessment of the Property for tax purposes and (b) any requirement of Lender that the purposed purchaser satisfy Lender’s then applicable criteria for a single purpose bankruptcy remote entity; 

  

	 	4.3	Experience. Lender’s reasonable determination that the proposed purchaser possesses satisfactory recent experience in the ownership and operation of properties
similar to the Property; 

  

	 	4.4	Impounds. Lender’s receipt of such new or increased Impounds as Lender may require, including, without limitation, new or increased Impounds for taxes, insurance,
tenant improvements and leasing commissions, capital improvements, capital expenditures and deferred maintenance, and the amendment of the Loan Documents to require the purchaser to make monthly deposits of such new or increased Impounds for such
purposes thereafter; 

  

	 	4.5	Documents and Instruments. Lender’s receipt of such fully executed documents and instruments as Lender shall reasonably require, in form and content reasonably
satisfactory to Lender, including, without limitation, (a) an assumption agreement under which the purchaser assumes all obligations and liabilities of Borrower under this Note and the other Loan Documents and agrees to such amendments to the
Loan Documents as Lender may reasonably require in order to reflect the change in the borrowing entity and principals and any new or increased Impounds and (b) a consent to the sale or exchange by each existing guarantors and a reaffirmation of
each guarantor’s obligations and liabilities under each guaranty or the execution of new guaranties by new guarantors reasonably satisfactory to Lender; 

  

	 	4.6	Title Insurance. If required by Lender, delivery to Lender of evidence of title insurance reasonably satisfactory to Lender insuring Lender that the lien of the
Mortgage and the priority thereof will not be impaired or affected by reason of such sale or exchange of the Property; 

  

	 	4.7	Assumption Fee. Payment to Lender of an assumption fee equal to 1% of the then outstanding principal balance of this Note, but not less than $15,000;

  

 EXHIBIT A 
 4 

	 	4.8	Costs and Expenses. Reimbursement to Lender of any and all costs and expenses paid or incurred by Lender in connection with such sale or exchange and Lender’s
consent thereto, including, without limitation, all in-house or outside counsel attorneys’ fees, title insurance fees, appraisal fees, inspection fees, and environmental consultant’s fees and any fees or charges of the applicable Rating
Agencies; 

  

	 	4.9	No Downgrade. If required by Lender, delivery to Lender of written evidence from the Rating Agencies that such sale or exchange will not result in a downgrading,
withdrawal or qualification of the respective ratings in effect immediately prior to the sale or exchange for any securities issued in connection with the securitization of the Loan which are then outstanding; and 

  

	 	4.10	No Adverse REMIC Event. If required by Lender, delivery to Lender of an opinion of tax counsel, in form and content and issued by tax counsel satisfactory to
Lender’s counsel, that such sale or exchange shall not (a) constitute a “significant modification” of the Loan within the meaning of Treasury Regulation Section 1.860G-2(b) or (b) cause the Loan to fail to be a
“qualified mortgage” within the meaning of Section 860G(a)(3)(A) of the Code. 

 Lender shall fully release
Borrower and each existing guarantor from any further obligation or liability to Lender under this Note and the other Loan Documents upon the assumption by the purchaser and each new guarantor of all such obligations and liabilities and the
satisfaction of all other conditions precedent to a sale or exchange in accordance with the provisions of this Section. 
  

	5.	PERMITTED MEZZANINE FINANCING. The restrictions on Transfers (as defined in the Mortgage) of ownership interests in Borrower set forth in Section 6.15 of the
Mortgage shall not apply to (a) the pledge by Mezzanine Borrower, of its ownership interest in Borrower to Mezzanine Lender as security for the Mezzanine Loan, and (b) the acquisition by Mezzanine Lender of the ownership interests pledged
to Mezzanine Lender as security for the Mezzanine Loan described in clause (a) above. 

  

	6.	PREPAYMENT. 

  

	 	6.1	The Note contains provisions which permit Full Defeasance Only. 

  

	7.	AUTODEBIT. 

  

	 	7.1	Monthly payments are required to be made by automatic debit from an account acceptable to Lender. 

  

 EXHIBIT A 
 5 

 Loan No. 31-0905767 
 EXHIBIT B TO PROMISSORY NOTE 
 Loan Documents and Other Related Documents 
 This Exhibit B is attached to and forms a part of that Promissory Note (“Note”) executed by KBS SABAL VI, LLC, a Delaware limited liability company
(“Borrower”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Lender”). 
  

	1.	LOAN DOCUMENTS. The documents numbered 1.1 through 1.10 below of even date herewith (unless otherwise specified) and any amendments, modifications and supplements
thereto which have received the prior written approval of Lender and any documents executed in the future that are approved by Lender and that recite that they are “Loan Documents” for purposes of this Note are collectively referred to as
the “Loan Documents”. 

  

	 	1.1	This Note; 

  

	 	1.2	Mortgage; 

  

	 	1.3	State of Delaware Uniform Commercial Code - Financing Statement - Form UCC-1; 

  

	 	1.4	Limited Liability Company Borrowing Certificate; 

  

	 	1.5	Limited Liability Company Certificate Authorizing Limited Liability Company Activity; 

  

	 	1.6	Assignment of Management Contracts; 

  

	 	1.7	Agreement Regarding Required Insurance; 

  

	 	1.8	Cash Management Agreement (Springing Hard); 

  

	 	1.9	Clearing Account Agreement (Soft Lockbox); and 

  

	 	1.10	Autodebit Authorization 

  

	2.	OTHER RELATED DOCUMENTS WHICH ARE NOT LOAN DOCUMENTS. 

  

	 	2.1	Agreement for Disbursement Prior to Recording and Amendment to Note; 

  

	 	2.2	Repayment Guaranty; 

  

	 	2.3	Intercreditor Agreement; and 

  

	 	2.4	Delaware Single Member Legal Opinion. 

  

 EXHIBIT B 
 1Purchase and Sale Agreement (related to the acquisition of the 625 Second St)

 Exhibit 10.67 
 Purchase and Sale Agreement 
 By and Between 
 Rosenberg Soma Investments III, LLC, 
 a Delaware limited liability company 
 (“Seller”) 
 and 
 KBS Realty Advisors, LLC, 
 a Delaware limited liability company 
 (“Buyer”) 

 TABLE OF CONTENTS 
  

			
	 	  	Page
	PURCHASE AND SALE	  	1
		
	PURCHASE PRICE	  	2
		
	TITLE	  	3
		
	ESCROW	  	4
		
	CLOSING	  	5
		
	DUE DILIGENCE	  	5
		
	CONDITIONS TO CLOSING	  	11
		
	DELIVERIES INTO ESCROW	  	13
		
	PRORATIONS; CLOSING COSTS; CREDITS	  	15
		
	OPERATION OF PROPERTY PENDING THE CLOSING	  	18
		
	REPRESENTATIONS AND WARRANTIES	  	18
		
	INDEMNIFICATION	  	20
		
	CASUALTY OR CONDEMNATION	  	22
		
	COMMISSIONS	  	23
		
	NOTICES	  	23
		
	LIMITATIONS ON REPRESENTATIONS AND WARRANTIES	  	24
		
	MISCELLANEOUS	  	27
		
	DEFAULT	  	30
		
	DEFINITIONS	  	31

  

 i 

 PURCHASE AND SALE AGREEMENT 
 THIS PURCHASE AND SALE AGREEMENT (“Agreement”) is made and entered into as of December 27, 2006 (the “Effective
Date”) by and between Rosenberg Soma Investments III, LLC, a Delaware limited liability company (“Seller”), and KBS Realty Advisors, LLC, a Delaware limited liability company (“Buyer”). 
 R E C I T A L S 
 This Agreement is made with
respect to the following facts and circumstances: 
 A. Seller owns certain real property commonly known as 625 Second Street, San Francisco,
California which real property, together with certain personal property, is collectively referred to in this Agreement as the “Property” and is more particularly defined below. 
 B. Subject to the terms and conditions herein, Seller desires to sell and Buyer desires to purchase the Property. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein, Seller and Buyer agree as follows: 
 1. PURCHASE AND SALE. 
 1.1
Property. Subject to the terms and conditions hereof, Seller hereby agrees to sell, convey and assign to Buyer, and Buyer hereby agrees to purchase and accept from Seller on the Closing Date (as defined below) the following (collectively, the
“Property”): 
 1.1.1 That certain tract or parcel of land situated in the City and County of San Francisco, California
which is legally described on Exhibit 1.1.1 attached hereto, together with any and all rights, privileges, and easements appurtenant thereto, which are owned by Seller (collectively, the “Land”). 
 1.1.2 All buildings, structures, fixtures and other improvements of every kind and description affixed to or located in, on, over, or under the Land
(excluding fixtures owned by any tenant) (all of which are collectively referred to as the “Improvements”; the Land and Improvements are collectively referred to as the “Real Property”); and 
 1.1.3 All right, title and interest of Seller in and to all tangible personal property of any type located upon the Land or within the Improvements and
used exclusively in connection with the operation of the Land and Improvements (collectively, the “Personal Property”). 
  

 1 

 1.2 Assignment. In addition, Seller shall convey and assign to Buyer all of the right, title and
interest of Seller, if any, in and to (i) the lease scheduled on Exhibit 1.2 (i) attached hereto (the “Lease”) and all leases entered into by Seller following the Effective Date subject to approval by Buyer pursuant
to Section 10.3 below, together with any and all security deposits in Seller’s possession in connection therewith; (ii) all assignable service contracts and other agreements, if any, relating to the Real Property or Personal Property
to be assumed by Buyer (as provided below); the assignable service contracts with respect to the Real Property are described on Exhibit 1.2 (ii) attached hereto (collectively the “Service Contracts”); (iii) all
assignable current licenses, permits, certificates of occupancy, approvals and entitlements issued or granted in connection with the Real Property as well as any and all assignable development rights and any other intangible rights, interests or
privileges relating to or used in connection with the Real Property; (iv) any assignable right to use the current names of the Real Property, logos, trademarks, tradenames and symbols and promotional materials; and (v) all transferable
warranties, guarantees or sureties relating to the Real Property or the Personal Property. Such assignment shall be made pursuant to the Assignment and Assumption Agreement in the form described in Section 8.1.3 below
(“Assignment”). All of the above interests as described in clauses (iii), (iv) and (v) of this Section 1.2 shall sometimes be referred to collectively as the “Intangible Property.” 
 1.3 Excluded Property. Notwithstanding anything to the contrary set forth herein, the Property being conveyed pursuant to this Agreement does not
include (and Seller expressly reserves all rights with respect thereto) any existing claims or causes of action with respect to the Property to the extent attributable to the period prior to the Closing Date, including, without limitation, any tax
rebates attributable to the period prior to the Closing (as defined below), and claims against existing tenants with respect to matters accruing prior to the Closing Date or previous tenants. The provisions of this Section 1.3 shall not be
construed, however, to restrict the ability of Buyer following the Closing Date to deal with any existing tenants of the Real Property or to restrict the Buyer following the Closing Date from pursuing any and all remedies in connection with existing
hazardous materials on, in or about the Real Property. 
 2. PURCHASE PRICE. Buyer shall pay as the total purchase price for the
Property (“Purchase Price”) the sum of Fifty One Million Dollars ($51,000,000). The Purchase Price shall be paid as follows: 
 2.1 Deposit. On or before five (5) business days following the Effective Date, Buyer shall cause One Hundred Twenty Five Thousand Dollars ($125,000) (the “Deposit #1”) in immediately available funds to be
delivered into Escrow (as defined below). On or before one (1) business day following the Due 

  

 2 

 
Diligence Date (as defined below) provided that Buyer has given the Approval Notice (as defined below), Buyer shall cause an additional One Million One
Hundred Twenty Five Thousand Dollars ($1,125,000) (the “Deposit #2”) in immediately available funds to be delivered into Escrow. In the event that Buyer elects to extend the date for Closing, as provided in Section 5.1, by
giving an Extension Notice (as defined below) as a condition of the effectiveness of such Extension Notice, Buyer shall cause an additional Five Hundred Thousand Dollars ($500,000) (the “Deposit #3”) in immediately available funds
to be delivered into Escrow. The “Deposit” shall refer to the sum of the Deposit #1 and Deposit #2, as well as Deposit #3, if made, as each of said amounts is received by Escrow and any and all interest then accrued thereon. The
failure of Buyer to timely deliver any of the respective Deposits shall be a material default, and shall entitle Seller, at Seller’s sole option, to terminate this Agreement immediately by giving written notice of such termination to Buyer and
the Escrow Agent (as defined below); 
 2.2 Interest on Deposit. The Deposit shall be held by the Escrow Agent as an earnest money
deposit towards the Purchase Price. The Deposit shall be held in Escrow in accordance with the provisions of this Agreement in a federally insured interest bearing account or other investment suitable for daily investment reasonably acceptable to
Seller and Buyer (and in any event with any risk of loss for the account of Buyer) with any interest accruing thereon to be paid or credited, except as otherwise provided in this Agreement, to Buyer; 
 2.3 Disposition of Deposit. At the Closing (as defined below) the Deposit shall be applied and credited toward the payment of the Purchase Price.
If Escrow does not close, and this Agreement is terminated in a manner governed by Sections 7.3 or 13, the Deposit will be disbursed to Buyer as provided in such Sections. If the Escrow does not close and neither Section 7.3 nor Section 13
applies, the Deposit shall be returned to Buyer unless the provisions of Section 18.1 are applicable, in which case the disposition of the Deposit shall be governed by the provisions of Section 18.1; and 
 2.4 Cash Balance. On or before the Closing, Buyer shall deliver into Escrow in immediately available funds the balance of the Purchase Price
together with any amount required in connection with prorations and costs payable by Buyer. The Purchase Price, net of any prorations and closing costs to be paid by Seller as provided in this Agreement, shall be paid by the Escrow Agent to Seller
on the Closing Date by federal wire transfer of immediately available funds to a bank account(s) designated by Seller in a written notice to the Escrow Agent given prior to the Closing. 
 3. TITLE. 
 3.1 Vesting of
Title. At Closing, Seller shall convey fee simple title to the Real Property to Buyer by execution and delivery of the Deed (as defined below). Issuance by the Title Company (or an unconditional commitment to issue) as of the Closing of the
Buyer’s Title Policy (as defined below) shall constitute evidence of delivery of title by Seller. 
  

 3 

 3.2 Buyer’s Title Insurance. At Closing and as a condition precedent for the benefit of Buyer
as provided in Section 7.2.4 below, the Title Company shall issue to Buyer an ALTA extended coverage owner’s form of title insurance policy in the amount of the Purchase Price insuring that fee simple title to the Real Property is vested
in Buyer subject only to the Permitted Exceptions (as defined below) (“Buyer’s Title Policy”). If Buyer timely delivers a Title Commitment (as defined below) pursuant to the provisions of Section 6.3.4, the Buyer’s
Title Policy shall be in the form of the Title Commitment and shall include such endorsements as are set forth in such Title Commitment. 
 3.3 Permitted Exceptions. As a condition precedent of Buyer’s obligations as provided in Section 7.2.4 but not as a covenant of Seller, Seller shall convey the Property and Buyer shall accept the Real Property subject to
the following matters, which are collectively referred to as the “Permitted Exceptions”: 
 3.3.1 all exceptions to title
shown in the Title Report (as defined below) as it may be amended and on the Survey (as defined below) that are approved or deemed approved by Buyer as provided in Section 6.3 hereof; 
 3.3.2 the lien of non-delinquent real and personal property taxes and assessments; 
 3.3.3 the rights of the tenant (“Tenant”) under the Lease as tenant only, without any right to purchase the Property; 
 3.3.4 local, state and federal laws, ordinances or governmental regulations, including but not limited to, building and zoning laws, ordinances and
regulations, now existing or hereafter in effect with respect to the Real Property; 
 3.3.5 matters affecting the condition of title
created by or with the written consent of Buyer; and 
 3.3.6 standard printed exclusions generally included in an ALTA owner’s policy.

 4. ESCROW. 
 4.1 Opening of Escrow. Seller shall deliver three (3) counterparts of the signed and
initialed pages as contemplated by this Agreement into escrow (“Escrow”) to be established at Chicago Title Company, 388 Market Street, 13th Floor, San Francisco, California 94111, to the attention of Nicole Carr, Fax: (415) 956-2175. (“Escrow Agent”) on or before four (4) business days following the Effective
Date and Buyer shall deliver into Escrow three (3) counterpart originals of the Agreement duly signed and initialed by Buyer. The Buyer’s Title Policy shall be issued by Chicago Title Insurance Company (National Business Unit), Attn.
Mr. John Premac, Chicago Title Insurance Company, 16969 Von Karman Avenue, Suite 200, Irvine, California 92606, Fax: (949) 263-0356, California (“Title Company”). 
  

 4 

 4.2 Instructions to Escrow Agent. Seller and Buyer shall each be entitled to submit escrow
instructions to the Escrow Agent in connection with the Closing of the Escrow. Seller and Buyer shall in addition execute such further escrow instructions as the Escrow Agent may reasonably require in connection with the Closing so
long as such instructions are consistent with the provisions of this Agreement and the escrow instructions of Seller and Buyer. In the event of any conflict between the terms and conditions of this Agreement and the provisions of any escrow
instructions prepared by Seller, Buyer or the Escrow Agent, the terms and conditions of this Agreement shall control. 
 5.
CLOSING. 
 5.1 Closing. The purchase and sale of the Property as contemplated by this Agreement, including but not limited to
the recordation of the Deed and the completion of the other matters required by this Agreement to be done contemporaneously (the “Closing”) shall occur on January 24, 2007, or on such earlier date as is mutually agreed in
writing by Seller and Buyer; provided, however, that Buyer shall be entitled to extend the date for Closing to February 7, 2007 by giving written notice (“Extension Notice”) to Seller on or before January 17, 2007 and
depositing into Escrow Deposit #3. Delivery by Buyer into Escrow of Deposit #3 shall be a condition of the effectiveness of the Extension Notice. The date on which the Closing actually occurs shall be referred to as the “Closing
Date.” 
 5.2 Failure to Close. If the Closing does not occur on or before the date set forth in Section 5.1 above (as
such date may be extended pursuant to the express provisions of this Agreement), then in the absence of a written agreement between the parties to extend the Closing Date, either party hereto (so long as such party is not then in default pursuant to
this Agreement), without waiving any rights it may otherwise have pursuant to the Agreement, may elect to terminate this Agreement by giving written notice of such termination to the other and to the Escrow Agent. 
 6. DUE DILIGENCE. 
 6.1 Due
Diligence Period. The period commencing as of the Effective Date and continuing through January 12, 2007 (“Due Diligence Date”) shall be referred to as the “Due Diligence Period.” 
 6.2 Available Information. Seller shall make available to Buyer the following documents and materials (collectively, the “Due Diligence
Materials”). 
 6.2.1 Delivered Materials. Prior to the Effective Date, Seller has, or within five (5) business days
following the Effective Date, will deliver or cause to be delivered 

  

 5 

 
to Buyer copies of all of the documents and materials relating to the Property listed on Exhibit 6.2.1(i) attached hereto. Seller has not undertaken
any independent investigation as to the truth or accuracy of the documents and materials to be delivered and is providing same solely as an accommodation to Buyer. In addition, Buyer has informed Seller that it is required by law to complete, with
respect to certain matters relating to the Property, an audit commonly known as a “3-14 audit” (the “Buyer’s 3-14 Audit”). It is anticipated that Buyer shall complete the Buyer’s 3-14 Audit during the Due
Diligence Period. In connection with the completion by Buyer of Buyer’s 3-14 Audit, Seller shall, at no cost to Seller: (a) during the Due Diligence Period, make available to Buyer the documents described in Exhibit 6.2.1(ii) attached
hereto to the extent in Seller’s possession; and (b) provide to Buyer, in written form, answers as reasonably determined by Seller to the questions relating to the Property which are set forth in Exhibit 6.2.1(ii). 
 6.2.2 Property Files. Seller shall make available to Buyer and Buyer’s agents and representatives at the offices of Seller located at 153
Townsend Street, Suite 530, San Francisco, CA 94107, upon reasonable notice and during normal business hours, all files, books, and records, in the possession or control of Seller, or in possession or control of Seller’s property manager, if
any, relating to the ownership, operation, construction, use or occupancy of the Property, or any portion of the Property. Buyer, at its expense, may make photocopies of such material relative to the Property as Buyer may determine. 
 6.2.3 Restricted Information. Notwithstanding any provision to the contrary, “Due Diligence Materials” shall not include, and Seller
shall have no obligation to furnish or otherwise make available to Buyer, any of the following documents: any internally or externally prepared reports or analysis concerning the valuation or economic performance of the Property; any information
received from or concerning any other potential purchaser of the Property; any federal or state income tax returns; any documents, instruments or agreements evidencing, securing or relating to any mortgage loan currently encumbering the Real
Property; any correspondence or analyses regarding past, pending or proposed real property tax appeals; or any information or documentation that is privileged or otherwise legally protected from disclosure under applicable law. 
 6.2.4 Confidentiality. Prior to the occurrence of the Closing, Buyer and its representatives shall hold in strictest confidence all data and
information obtained with respect to Seller or the Property whether obtained before or after the execution and delivery of this Agreement, and shall not disclose the same to others; provided, however, that it is understood and agreed that Buyer may
disclose such data and information to the employees, lenders, consultants, accountants and attorneys of Buyer provided that such persons agree to treat such data and information confidentially, and further provided that Buyer shall be entitled to
make such disclosures as are required by applicable law. In the event this Agreement is terminated or Buyer fails to perform hereunder, Buyer shall promptly return to Seller any statements, documents, schedules, exhibits and other written
information obtained from Seller in connection with this Agreement or the transaction contemplated herein. Notwithstanding any provisions to the contrary of this Agreement, including, without limitation, the above provisions of this
Section 6.2.4, no provision contained in this Agreement shall be construed to impair Buyer’s (or its permitted assignee’s) right to disclose information relating to the Property (a) to any due diligence representatives and/or
consultants that are engaged by, work for, or are acting 

  

 6 

 
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 real estate investment trust (“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. The provisions of this Section 6.2.4 shall survive the Closing or any termination of this Agreement. 
 6.3 Title Review. The period commencing as of the Effective Date and continuing through January 9, 2007, shall be referred to as the
“Title Review Period.” 
 6.3.1 Title Material. Promptly following the Effective Date, Seller will obtain and
deliver to Buyer a current preliminary title report (“Title Report”) for the Real Property prepared by the Title Company or Escrow Agent, together with a copy of, or access to, the documents listed as exceptions therein. Buyer, at
its cost, shall obtain a survey (“Survey”) of the Real Property prepared by a licensed engineer which Survey shall be sufficient to provide the basis for an ALTA owner’s policy of title insurance. The Survey shall be obtained
by Buyer prior to the expiration of the Title Review Period and Buyer shall promptly deliver a copy of the Survey to Seller and the Title Company. 
 6.3.2 Review of Title. Buyer shall notify Seller in writing (the “Title Notice”) prior to the expiration of the Title Review Period with respect to which exceptions to title as shown on the Title Report and Survey
will not be accepted by Buyer. If Buyer fails to notify Seller in writing of its disapproval of any exceptions to title by the expiration of the Title Review Period, Buyer shall be deemed to have approved the condition of title to the Real Property.
If Buyer notifies Seller in writing that Buyer objects to any exceptions to title, Seller shall have one (1) business day after receipt of the Title Notice (but, in no event, later than one (1) business day prior to the Due Diligence Date)
to notify Buyer (a) that Seller will remove such objectionable exceptions from title on or before the Closing, provided that Seller may extend the Closing for such period as shall be required to effect such cure, but not beyond ten
(10) days; or (b) that Seller elects not to cause such exceptions to be removed. If Seller fails to timely give such notice to Buyer, Seller shall be deemed to have given notice to Buyer under clause (b). Seller shall have no obligation to
remove any title exceptions to which Buyer objects provided, however, that Seller shall remove, as of the Closing, all liens evidencing any deed of trust (and related documents) securing financing, all delinquent tax liens, all mechanics’ liens
relating to work performed by Seller, and all judgment liens against Seller. If Seller gives or is deemed to have given Buyer notice under clause (b) above, Buyer shall have one (1) business day from the date on which such notice to Buyer
is given (but in no event later than the Due Diligence Date) in which to notify Seller that Buyer will nevertheless proceed with the purchase and take title to the Property subject to such exceptions, or that Buyer will terminate this Agreement. If
Buyer fails to timely give such notice, Buyer will be deemed to have elected to proceed with the purchase and take title to the Property subject to such exceptions. If this Agreement is terminated pursuant to the foregoing provisions of this
Section 6.3.2, then neither party shall have any further rights or obligations hereunder (except with respect to those matters expressly stated to survive such termination), the Deposit shall be returned to Buyer and each party shall bear its
own costs incurred hereunder. 
  

 7 

 6.3.3 Subsequent Title Defects. Buyer may, at or prior to Closing, notify Seller in writing (the
“Subsequent Title Defects Notice”) of any objection(s) to title exceptions (a) raised by the Title Company between the expiration of the Title Review Period and the Closing, and (b) not disclosed by the Title Company or
the Survey or otherwise known to Buyer prior to the expiration of the Title Review Period, provided that Buyer must notify Seller of such objection(s) to title within three (3) business days of being made aware of the existence of such
exception. If Buyer timely gives a Subsequent Title Defects Notice to Seller, Seller shall have two (2) business days after receipt of the Subsequent Title Defects Notice to notify Buyer (a) that Seller will remove such objectionable
exceptions from title on or before the Closing, provided that Seller may extend the Closing for such period as shall be required to effect such cure, but not beyond ten (10) days; or (b) that Seller elects not to cause such exceptions to
be removed. If Seller fails to timely give such notice to Buyer, Seller shall have been deemed to have given notice to Buyer under clause (b). Seller shall have no obligation to remove any title exceptions to which Buyer objects, provided however,
that notwithstanding the foregoing, Seller shall remove, as of the Closing, all liens evidencing any deed of trust (and related documents) securing financing, all delinquent tax liens, all mechanics’ liens relating to work performed by Seller,
and all judgment liens against Seller. If Seller gives or is deemed to have given notice under clause (b) above, Buyer shall have three (3) business days from the date on which such notice to Buyer is given or deemed given in which to
notify Seller that Buyer will nevertheless proceed with the purchase and take title to the Property subject to such exceptions or that Buyer will terminate this Agreement. If Buyer fails to timely give such notice, Buyer shall be deemed to have
elected to proceed with the purchase and take title to the Property subject to such exceptions. If this Agreement is terminated pursuant to the foregoing provisions of this Section 6.3.3 then neither party shall have any further rights or
obligations hereunder (except with respect to those matters expressly set forth to survive such termination), the Deposit shall be returned to Buyer and each party shall bear its own costs incurred hereunder. 
 6.3.4 Proforma Policy. On or before the Due Diligence Date, Buyer may deliver to Seller a proforma title policy (“Title
Commitment”) acceptable to Buyer pursuant to which the Title Company shall have committed to issue as of the Closing an ALTA extended coverage owner’s title policy, including such endorsements as are required by Buyer. The delivery of
the Title Commitment by Buyer to Seller shall constitute an affirmation by Buyer that the Title Commitment is acceptable to Buyer, and that Buyer is prepared to take title to the Real Property as provided in the Title Commitment. The Title
Commitment, if delivered, shall be consistent with the provisions of Section 6.3.2 (and Section 6.3.3 if Buyer has timely given a Subsequent Title Defects Notice) and shall include all title exceptions as set forth in the Title Report
and/or referenced in the Survey, other than those which Seller is obligated to remove or has agreed to remove pursuant to the provisions of Section 6.3.2 (and Section 6.3.3, if applicable) or the Title Company has otherwise agreed to
remove. 
 6.4 Inspection; Right of Entry. Buyer and Buyer’s agents, contractors, engineers, consultants, employees and other
representatives (collectively, “Buyer’s 

  

 8 

 
Representatives”) shall have the right, during the Due Diligence Period and subject to the terms and conditions of Section 6.6 below,
(i) to enter the Real Property to inspect the same (including the performance of environmental audits of the Real Property in accordance with the terms of Section 6.4.1 and 6.4.2 below), upon reasonable notice to Seller, provided that
Buyer does not unreasonably disturb any business of Seller in connection with the Property or any tenant of the Real Property and provided that Seller shall be afforded the opportunity to participate in such visitations, (ii) to contact
representatives of third parties who have executed Service Contracts with Seller or Seller’s representatives regarding the Real Property, and (iii) to contact representatives of the Tenant, provided that Seller shall be afforded the
opportunity to participate in any such contact. Buyer shall keep the Property free and clear of any mechanics’ liens, materialmen’s liens or claims arising out of any of Buyer’s activities or those of Buyer’s Representatives on
or with respect to the Real Property. All entries onto the Real Property by Buyer and all inspections and examinations thereof shall be at Buyer’s sole cost and expense, shall be done in a workmanlike manner in accordance with all applicable
codes, statutes, ordinances, rules, regulations and laws and shall not disturb in any way the quiet occupancy or enjoyment of any tenant or other occupant of the Real Property. Buyer shall not perform any test or inspection or carry out any activity
at the Real Property which damages the Real Property in any way or which is physically intrusive into the Improvements or soil of the Real Property without the prior written consent of Seller, which Seller may withhold in its sole and absolute
discretion. After each entry onto any portion of the Real Property, Buyer, at its sole cost and expense shall repair (which shall include replacement where necessary) any damage to the Real Property arising from such entry. In connection with any
inspections of the Real Property, Buyer and Buyer’s Representatives will carry liability insurance in an amount not less than $1,000,000 combined single limit for personal injury and property damage per occurrence, such policy to name Seller as
an additional insured party, and, upon the request of Seller, will provide Seller with written evidence of same. Buyer will give Seller reasonable prior notice of its intention to conduct any inspections or tests with respect to the Real Property
and Seller reserves the right to have a representative present. 
 6.4.1 Phase I Environmental Audit. During the Due Diligence
Period, Buyer may conduct (or have conducted on its behalf by an environmental auditor) a Phase I environmental audit of the Real Property, subject to the terms and conditions of Sections 6.4.2 and 6.6 below. 
 6.4.2 Environmental Conditions. In the event that Buyer shall enter the Real Property for purposes of conducting a Phase I environmental audit of
the Real Property, Buyer shall provide Seller with at least two (2) business days’ prior written notice of its intent thereof. Buyer shall not conduct a Phase II environmental audit of the Real Property without the prior written consent of
Seller which consent may be withheld or granted in the sole and absolute discretion of Seller. Prior to the occurrence of the Closing, Buyer shall not disclose to any third party, other than Buyer’s consultants, agents, investors, lenders, and
attorneys associated with the purchase of the Property and other than as may be required by applicable law, the results of any of Buyer’s inspections or testing of the Real Property. Prior to performing any environmental inspections or testing
of the Real Property, Buyer shall obtain any required permits and authorizations and shall pay all applicable fees required by any public body or agency in connection therewith. 
  

 9 

 6.5 Buyer’s Reports. If the Escrow fails to close for any reason other than Seller’s
material breach of this Agreement, then all studies, surveys (including, without limitation the Survey), reports, test results and analyses concerning the Real Property prepared by third parties for Buyer in connection with its review of the Real
Property (collectively, “Buyer’s Reports”) shall at the option of Seller, immediately be delivered and assigned to Seller free and clear of all claims and at no cost, expense or liability to Seller. Buyer shall not be required
to deliver to Seller internally prepared reports or analyses concerning the valuation or potential performance of the Real Property. Any Buyer’s Reports delivered to Seller at Seller’s request pursuant to this Section 6.5 shall be
delivered without representation or warranty, nor shall Seller assert any warranty or rights against the consultants of Buyer who have prepared such Buyer’s Reports. 
 6.6 Indemnity. Buyer shall indemnify, defend by counsel reasonably acceptable to Seller, and hold Seller harmless from and against any and all costs, expenses, claims, demands or liens, (including, without
limitation, mechanics’ liens) including reasonable attorneys’ fees, arising from or in any fashion related to the entry by Buyer or Buyer’s Representatives on the Real Property or the performance by Buyer or Buyer’s
Representatives of any testing or investigations of the Real Property except with respect to any loss or liability incurred by Seller resulting from the mere discovery by Buyer or Buyer’s Representatives of the presence of hazardous materials
at the Property or the existence of other defects with respect to the Property or resulting from the negligence of Seller. Without limiting the scope or generality of the foregoing indemnity, Buyer shall not permit any mechanics’,
materialman’s, or other lien against all or any part of the Real Property to exist as the result of any activity by Buyer or Buyer’s Representatives undertaken in connection with the Real Property. If any such lien shall be filed against
the Real Property or any portion of the Real Property, Buyer shall cause the lien to be discharged within five (5) business days after the filing thereof. The provisions of this Section 6.6 shall survive the Closing and delivery of the
Deed and shall further survive any earlier termination of this Agreement. 
 6.7 Approval by Buyer. Buyer shall have the right to
review and approve, in its sole, absolute and subjective discretion, during the Due Diligence Period all aspects of the Property, including but not limited to, the Due Diligence Materials, the physical and environmental condition of the Real
Property, including, without limitation, the condition of the Improvements, the condition of the soil at the Real Property, the condition of the ground water at the Real Property, and the presence or absence of any hazardous materials at the Real
Property, the financial condition of the Property, including, without limitation, the feasibility, convertibility, desirability and suitability of the Property for Buyer’s intended use and purposes, the legal condition of the Property,
including, without limitation, the Property’s compliance or non-compliance with all statutes, ordinances, codes, regulations, decrees, orders and laws applicable to the Property, the Lease, all subleases, the Service Contracts, if any, being
assumed by Buyer, the existence or non-existence of any governmental or quasi-governmental entitlements, if any, affecting the Property or any portion of the Property, any dimensions or specifications of the Real Property or any part thereof, the
zoning, building and land use restrictions applicable to the Real Property or any portion thereof, and all other matters which Buyer deems relevant to its purchase of the Property including, without limitation, the form of 

  

 10 

 
executed Estoppel Certificate (as defined below) received by Buyer pursuant to the provisions of Section 7.2.6. In the event that Buyer elects to
approve all of the matters as summarized in this Section 6.7 with respect to the Property, Buyer shall give written notice of such approval to Seller (“Approval Notice”) on or before the Due Diligence Date. The Approval Notice,
if given by Buyer must be in the form of Exhibit 6.7 attached hereto. If Buyer fails to timely give the Approval Notice to Seller, Buyer shall conclusively be deemed to have disapproved the Property and more particularly the matters set forth in
this Section 6.7 in which case this Agreement shall terminate, all rights and obligations hereunder of each party shall be at an end (except those matters which are specifically stated in this Agreement to survive the termination), the Deposit
shall be promptly returned to Buyer and each party shall bear its own costs incurred hereunder. If Buyer timely gives the Approval Notice to Seller, then Buyer shall be considered to have elected to proceed with the purchase of the Property in
accordance with the provisions of this Agreement, Buyer shall have no further rights with respect to this Section 6.7, the conditions for the benefit of Buyer as set forth in Sections 7.2.5 and 7.2.6 shall be considered to have been satisfied
and Buyer shall have no further rights to assert the conditions set forth in such Sections. 
 6.8 Estoppel Certificate; SNDA. Within
five (5) business days following the Effective Date, provided that Buyer has previously timely delivered to Seller a completed Estoppel Certificate consistent with the form attached hereto as Exhibit 7.2.6, Seller shall deliver the Estoppel
Certificate to the Tenant and shall request that the Tenant execute such form and promptly return the executed Estoppel Certificate to Seller. Upon receipt of the executed Estoppel Certificate, Seller shall promptly deliver the original Estoppel
Certificate to Buyer. Seller shall use commercially reasonable effort to obtain a signed Estoppel Certificate from Tenant prior to the Due Diligence Date, but shall not be obligated to obtain such Estoppel Certificate. 
 In addition, Seller shall promptly deliver to the Tenant any SNDA (“SNDA”) delivered by Buyer to Seller. Seller shall use commercially
reasonable efforts to obtain the signature of Tenant with respect to any SNDA prior to the Due Diligence Date, but shall not be obligated to obtain a signed SNDA. In the event that Seller obtains a signed SNDA from Tenant, Seller shall deliver the
original of such SNDA into Escrow. The Closing shall not be conditioned upon receipt of a signed SNDA from Tenant. 
  

	 	7.	CONDITIONS TO CLOSING. 

 7.1 Seller’s
Conditions. The obligation of Seller to sell and convey the Property pursuant to this Agreement is subject to the satisfaction on or before the date scheduled for Closing as such date may be extended pursuant to the express provisions of this
Agreement (or such earlier date as is specifically set forth in this Agreement) of all of the following conditions precedent, which conditions are for the benefit of Seller only and the satisfaction of which may be waived only in writing by Seller:

 7.1.1 Buyer’s Deliveries. Delivery and execution by Buyer of all monies, items and instruments required to be delivered by
Buyer pursuant to this Agreement; 
  

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 7.1.2 Buyer’s Representations. Buyer’s warranties and representations set forth herein
shall be true and correct in all material respects as of the Closing Date; 
 7.1.3 Buyer’s Performance. Buyer shall have
performed each and every agreement to be performed by Buyer pursuant to this Agreement; and 
 7.1.4 Approval Notice. Buyer shall
have timely given the Approval Notice to Seller in accordance with the provisions of Section 6.7. 
 7.2 Buyer’s Conditions.
The obligation of Buyer to acquire the Property pursuant to this Agreement is subject to the satisfaction on or before the date scheduled for Closing as such date may be extended pursuant to the express provisions of this Agreement (or such earlier
date as is specifically set forth in this Agreement) of all of the following conditions precedent which conditions are for the benefit of Buyer only and the satisfaction of which may be waived only in writing by Buyer: 
 7.2.1 Seller’s Deliveries. Delivery and execution by Seller of all instruments and other items required to be delivered by Seller pursuant to
this Agreement; 
 7.2.2 Seller’s Representations. Seller’s warranties and representations set forth herein shall be true
and correct in all material respects as of the Closing Date; 
 7.2.3 Seller’s Performance. Seller shall have performed each and
every agreement to be performed by Seller pursuant to this Agreement; 
 7.2.4 Buyer’s Title Policy. As of the Closing, the
Title Company shall have issued or shall have committed to issue, upon the sole condition of the payment of its regularly scheduled premium, the Buyer’s Title Policy; 
 7.2.5 Buyer’s Approval. On or before the Due Diligence Date, Buyer shall have given the Approval Notice to Seller in accordance with the
provisions of Section 6.7; and 
 7.2.6 Estoppel Certificate. Not later than three (3) business days prior to the Due
Diligence Date, Buyer shall have received an estoppel certificate (“Estoppel Certificate”) substantially in the form attached hereto as Exhibit 7.2.6 duly executed by the Tenant without material modifications, or if modified, with
modifications acceptable to Buyer. 
 7.3 Failure of Conditions. If any of the conditions set forth in Sections 7.1 or 7.2 are not
timely satisfied or waived, for any reason other than the default of Buyer or Seller under this Agreement, then this Agreement and the rights and obligations of Buyer and Seller shall terminate and be of no further force or effect except as to those
matters as specifically stated in this Agreement to survive termination, in which case the Title Company is hereby instructed to return promptly to the party which placed such items into Escrow all funds (including the Deposit which is to be
promptly returned to Buyer) and documents which are held by the Title Company on the date of termination. 
  

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 7.4 Satisfaction of Conditions. The occurrence of the Closing shall constitute satisfaction of
conditions set forth in Sections 7.1 and 7.2 not otherwise specifically satisfied or waived by Buyer or Seller. 
  

	 	8.	DELIVERIES INTO ESCROW. 

 8.1 Deliveries by
Seller. On or before the Closing, Seller shall deliver or cause to be delivered into Escrow the following documents duly executed and acknowledged where appropriate: 
 8.1.1 Deed. A grant deed (the “Deed”) in the form attached hereto as Exhibit 8.1.1 conveying the Real Property to Buyer as provided in this Agreement which Deed is to be duly executed
and acknowledged by Seller; 
 8.1.2 Bill of Sale. Bill of sale (“Bill of Sale”) in the form attached hereto as
Exhibit 8.1.2 conveying the Personal Property to Buyer which Bill of Sale is to be duly executed by Seller; 
 8.1.3 Assignment. An
Assignment in the form attached hereto as Exhibit 8.1.3 which is to be duly executed by Seller and Buyer; 
 8.1.4 FIRPTA. A
certificate of non-foreign status to confirm that Buyer is not required to withhold part of the Purchase Price pursuant to Section 1445 of the Internal Revenue Code of 1986, as amended which is to be duly executed by Seller; 
 8.1.5 Form 593-C. Real Estate Withholding Certificate (593-C) which is to be duly executed by Seller; 
 8.1.6 Seller Certificate. A Seller Certificate (“Seller Certificate”) in the form attached hereto as Exhibit 8.1.6, which Seller
Certificate is to be duly executed by Seller; 
 8.1.7 Seller’s Authority. Such proof of Seller’s authority and
authorization to enter into this Agreement and consummate the transaction contemplated hereby and such proof of the power and authority of the individual(s) executing and/or delivering any instruments, documents or certificates on behalf of Seller
to act for and bind Seller as may be reasonably required by Escrow Agent; 
 8.1.8 The LOC. The original LOC (as defined below),
together with executed transfer documentation; and 
 8.1.9 Other Documents. Such other documents as may be reasonably necessary and
appropriate to complete the Closing of the transaction contemplated herein, including, without limitation, an ALTA owner’s affidavit in such form as may be reasonably requested by the Escrow Agent. 
  

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 8.2 Deliveries by Buyer. On or before the Closing, Buyer shall deliver or cause to be delivered
into Escrow the following funds and documents duly executed and acknowledged where appropriate: 
 8.2.1 Cash. The cash portion of the
Purchase Price and such additional sums as are necessary to pay the Buyer’s share of closing costs, prorations and any fees as more particularly set forth in Section 9 below; 
 8.2.2 Assignment. An Assignment which is to be duly executed by Seller and Buyer; 
 8.2.3 Buyer’s Affidavit. Buyer’s Affidavit in the form attached hereto as Exhibit 8.2.3 which is to be duly executed by Buyer;

 8.2.4 Buyer’s Authority. Such proof of Buyer’s authority and authorization to enter into this Agreement and consummate
the transaction contemplated by this Agreement, and such proof of the power and authority of the individual(s) executing and/or delivering any instruments, documents or certificates on behalf of Buyer to act for and bind Buyer as may be reasonably
required by Escrow Agent; and 
 8.2.5 Other Documents. Such other documents as may be reasonably necessary and appropriate to
complete the Closing of the transaction contemplated herein. 
 8.3 Tenant Notification Letter. Seller shall execute a tenant
notification letter in the form attached hereto as Exhibit 8.3 to the tenant pursuant to the Lease (the “Tenant Notification Letter”), indicating the change of ownership of the Property with the name and address of the Buyer and the
Closing Date, and shall upon the Closing deliver the executed Tenant Notification Letters to Buyer. 
 8.4 Delivery to Buyer Upon
Closing. Seller shall deliver possession of the Property to Buyer upon the Closing subject to the rights of possession of the Tenant pursuant to the Lease. 
 8.5 Delivery Following Closing. Within two (2) business days following the Closing, Seller shall deliver to Buyer: (i) the original of the Lease; (ii) the originals of the Service Contracts being
assumed by Buyer, if any; (iii) all building plans and specifications with respect to the Real Property which are in the possession or control of Seller or reasonably accessible to Seller or its property manager; (iv) all structural
reviews, architectural drawings, engineering, soils, seismic, geologic and architectural reports in the possession or control of Seller or reasonably accessible to Seller or its property manager; (v) keys with respect to the Real Property in
possession of Seller; and (vi) such other matters and documents in the possession or control of Seller or reasonably accessible to Seller or to its property manager as Buyer may reasonably request which relate to the Property and are not
confidential and/or proprietary. The provisions of this Section 8.5 shall survive the Closing. 
  

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 9. PRORATIONS; CLOSING COSTS; CREDITS. 
 9.1 Prorations. 
 9.1.1 Rent.
Rents, revenues and other income from the Property, actually collected as of the Closing, shall be prorated through Escrow as of 12:01 a.m. on the Closing Date with Seller entitled to the prorated portion of such items attributable to the period
prior to such date and time and Buyer entitled to the prorated portion of such items following such date and time. Any prepaid rent or other revenue paid by a tenant of the Property shall be credited to Buyer. If any rent or other payments under the
Lease are in arrears as of the Closing Date, Buyer shall use reasonable efforts following the Closing to collect such rent or other payments provided that in no event shall Buyer be obligated to commence litigation to effect collection. Buyer shall
be considered to have used reasonable efforts to collect any delinquent rents if Buyer invoices for such rent at least monthly. Nothing in this Section 9.1.1 shall restrict Seller’s right to collect delinquent rents directly from a tenant
by any legal means, provided, however, that Seller shall not commence litigation to collect any such delinquent rent earlier than six (6) months following the Closing, nor shall Seller in any event commence an action to evict Tenant or
terminate the Lease. Delinquent rent collected by Seller subsequent to the Closing shall be promptly paid to Buyer to the extent that Buyer is entitled to such rent in connection with the period on and after the Closing Date, and delinquent rent
collected by Buyer subsequent to the Closing shall be promptly paid to Seller to the extent that Seller is entitled to such rent pursuant to the provisions of this Agreement relating to the period prior to the Closing Date. Seller and Buyer agree
that all rent received by Seller or Buyer following the Closing shall be applied and paid first to any current rent then due Buyer, if any, and then to delinquent rent, if any, due Seller. 
 9.1.2 Taxes and Assessments. Except to the extent that real estate taxes are paid directly by a tenant, all non-delinquent real estate taxes on
the Property shall be prorated through Escrow based on the most recent tax bill as of 12:01 a.m. on the Closing Date with Seller responsible for all such taxes attributable to the period prior to such date and time and Buyer responsible for all such
taxes attributable to the period following such date and time. If after the Closing, supplemental real estate taxes are assessed against the Property by reason of any event occurring prior to the Closing Date, Buyer and Seller shall adjust the
proration of the real estate taxes following the Closing. Any delinquent taxes on the Property shall be paid at the Closing from funds accruing to Seller. Any current installments with respect to bonds or assessments on the Real Property shall be
prorated through Escrow as of 12:01 a.m. on the Closing Date and Seller shall have no obligation to pay any amount with respect to any such bonds or assessments other than the prorated current installment. Any refund in connection with real estate
taxes relating to the Property attributable to the period prior to the Closing Date shall be paid to Seller subject to the rights, if any, of the Tenant pursuant to the Lease. 
  

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 9.1.3 Operating Expenses. Operating expenses payable by the owner of the Real Property and all
other customary charges or costs incident to the ownership of the Property (not otherwise payable directly by a tenant) shall be prorated through Escrow as of 12:01 a.m. on the Closing Date. Seller shall be responsible for all operating expenses
accruing and attributable to the Property through the day prior to the Closing Date and Buyer shall be responsible for all operating expenses accruing and attributable to the Property commencing as of the Closing Date. Seller shall not assign to
Buyer any deposits which Seller has with any utility companies servicing the Property. Buyer shall arrange with such companies to have accounts open in Buyer’s name beginning at 12:01 a.m. on the Closing Date. To the extent possible, Seller and
Buyer shall obtain billings and meter readings as of the Closing Date and all operating expenses shall be prorated based upon the information then available. 
 As of the Closing, to the extent that it can be reasonably determined that excess operating expense reimbursements have been paid by Tenant to Seller for the period prior to the Closing, Buyer shall be entitled to a credit in an amount
equal to such overpayment. Following the Closing, Buyer shall be responsible for reimbursement to Tenant of any such excess amount as so credited to Buyer. In addition, Seller and Buyer shall make any adjustments required to be made subsequent to
the Closing in the event the information available at the Closing is incorrect or incomplete. Specifically, but without limiting the generality of the immediately preceding sentence, following reconciliation of operating expense reimbursements
Seller and Buyer shall make any adjustments (prorata based on the number of calendar days in the calendar year during which each of Seller and Buyer own the Property) required to be made in the event that the sum of operating expenses collected from
tenants is less than or greater than the amount properly payable or chargeable. Any amount due from Seller to Buyer or Buyer to Seller shall be promptly paid upon final determination of the amounts due. There shall be no proration of any insurance
premiums payable by Seller in connection with the Property. 
 9.1.4 Service Contracts. The amounts payable under the Service
Contracts which shall be assumed pursuant to the provisions of the Assignment, shall be prorated through Escrow on an accrual basis as of 12:01 a.m. on the Closing Date. Seller shall pay all amounts due thereunder which accrue prior to the Closing
Date and Buyer shall pay all amounts accruing on the Closing Date and thereafter. Buyer shall have no responsibility for Service Contracts not specifically being assumed by Buyer pursuant to this Agreement. Those Service Contracts which Buyer elects
during the Due Diligence Period not to assume by giving written notice of such election to Seller shall be terminated by Seller as of the Closing, provided, however that with respect to those Service Contracts which require a termination notice
longer than that allowed by reason of the date of the Closing (which in all events shall be no greater than thirty (30) days notice) provided that Seller has given notice of termination on or prior to the Closing Date, Buyer shall be
responsible for the obligations that relate to such terminated Service Contracts for the period from and after the Closing Date and Seller shall be responsible for the obligations that relate to the period prior to the Closing Date. Buyer shall have
no responsibility for Service Contracts which Buyer has elected not to assume for any period in excess of thirty (30) days following the Closing Date. Notwithstanding the above provisions of this Section 9.1.4 to the contrary, Buyer agrees
as of the Closing to assume the Service Contract with Montgomery Kone Elevator. 
  

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 9.1.5 Calculation of Prorations. All prorations shall be made on the basis of the actual number
of days of the month which have elapsed as of 12:01 a.m. on the Closing Date (based on the periods to which the prorations relate and are applicable, and regardless of when payable). 
 9.1.6 Proforma Closing Statement. Buyer and Seller shall reasonably cooperate to produce at least one (1) business day prior to the Closing
Date, a schedule of prorations in accordance with the provisions of this Agreement which is as complete and accurate as is then reasonably possible. All prorations which can be reasonably estimated as of the Closing Date shall be made in Escrow on
the Closing Date. All other prorations and any adjustments to the initial estimated prorations, shall be made by Buyer and Seller within thirty (30) days following the Closing or such later time as may be reasonably required, in the exercise of
due diligence to obtain the necessary information. Any net credit due one party from the other as the result of such post-Closing prorations and adjustments shall be paid to the other in cash immediately upon the parties’ written agreement to a
final schedule of post-Closing adjustments and prorations. The provisions of Section 9.1 shall survive the Closing and the recordation of the Deed. 
 9.2 Closing Costs; Security Deposit. 
 9.2.1 Seller’s Costs. Seller shall pay
(i) all documentary and transfer taxes; (ii) fifty percent (50%) of all of the escrow fees, costs, and recording costs (exclusive of recording costs relating to Buyer’s financing, if any), and (iii) its own attorneys’
fees. 
 9.2.2 Buyer’s Costs. Buyer shall pay (i) fifty percent (50%) of all escrow fees, costs and recording costs,
provided that the Buyer shall be responsible for the entire amount of recording costs relating to Buyer’s financing; (ii) the premium for Buyer’s Title Policy, including, without limitation, the cost for any and all endorsements;
(iii) the premium for the Buyer’s lender’s title policy, if any; (iv) the cost of the Survey (or updating the survey as provided by Seller, as the case may be); and (v) its own attorneys’ fees. 
 9.2.3 Credits; Letter of Credit. Buyer shall be credited and Seller shall be debited in an amount equal to the security deposit paid under the
Lease, except to the extent that Seller was entitled to and did apply any part of such deposit to tenant obligations under the Lease. 
 A
portion of the security deposit given by the Tenant pursuant to the Lease consists of a letter of credit (“LOC”). In connection with and prior to the Closing, Seller will deposit into Escrow the original LOC together with such
executed transfer documentation as may be required to transfer the beneficiary pursuant to such letter of credit from Seller to Buyer. Seller shall otherwise reasonably cooperate, at no cost to Seller, in connection with any such transfer.

 9.2.4 Other Expenses. Buyer and Seller shall each pay all legal and professional fees and fees of other consultants incurred by
Buyer and Seller, respectively. 
  

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 10. OPERATION OF PROPERTY PENDING THE CLOSING. Following the Effective Date and pending the
Closing, the Seller shall operate the Property in accordance with the following: 
 10.1 Normal Course of Business. Seller shall use
commercially reasonable efforts to continue to operate, manage and maintain the Property in such condition so that the Property shall be in substantially the same condition as of the Closing Date as it is as of the Due Diligence Date, reasonable
wear and tear and casualty excepted, provided however, Seller shall not be required to perform any capital repairs or improvements. Seller shall maintain all existing insurance policies in connection with the Property and shall keep in effect and
renew without material modification all licenses, permits and entitlements applicable to the Property. Seller’s existing liability and property insurance pertaining to the Property may be canceled by Seller as of the Closing Date. After the
expiration of the Due Diligence Period, except as may be required by the Lease, Seller shall not make any material alterations to the Property or remove any Personal Property without the prior written approval of Buyer, which approval shall not be
unreasonably withheld or delayed; 
 10.2 Further Encumbrances. Seller shall not execute any documents or otherwise take any action
which will have the result of further encumbering the Property in any fashion; 
 10.3 Leasing. Following the Effective Date, the
Seller shall not terminate, amend or otherwise modify the Lease without the prior consent of Buyer, which consent may be withheld or given in Buyer’s sole discretion. Following the Effective Date, Seller shall not enter into any new lease
without the prior consent of Buyer, which consent may be given or withheld by Buyer in its sole discretion. With respect to any consent of Seller requested by Tenant in connection with a sublease, Seller shall be entitled to grant or withhold such
consent in its reasonable discretion without the prior consent of Buyer. Seller shall give written notice to Buyer within two (2) business days following any such consent to a sublease; and 
 10.4 New Obligations. Without the prior written consent of Buyer, which consent shall not be unreasonably withheld or delayed, Seller shall not
enter into any maintenance contract, service contract or any other contract affecting or relating to the Property or any portion thereof which cannot be canceled upon thirty (30) days (or less) prior written notice. Notwithstanding the above
sentence, Seller shall be entitled to enter into any obligations required to be undertaken by Seller pursuant to the provisions of the Lease without the prior consent of Buyer provided that Seller shall give Buyer prior written notice of the entry
of Seller into any such obligations. 
  

	 	11.	REPRESENTATIONS AND WARRANTIES. 

 11.1 No
Representations or Warranties by Seller. Except as expressly set forth in this Agreement, Seller has not made any warranty or representation, express or implied, written or oral, concerning the Property. 
  

 18 

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

 11.2.1 Authority. This Agreement constitutes the valid and binding obligation of Seller and is enforceable against Seller in
accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforcement of creditors’ rights generally and general equitable principles. Seller is a limited liability company, validly formed, duly organized and
in good standing under the laws of the State of Delaware. Seller has full power, right and authority to enter into and perform this Agreement. The execution and delivery of this Agreement, delivery of money and all required documents, Seller’s
performance of this Agreement and the transaction contemplated hereby have been duly authorized by the requisite action on the part of Seller. Seller is solvent and is able to meet all of its financial obligations as and when due, and has assets in
excess of its liabilities. Neither the execution and delivery of this Agreement, nor the transaction contemplated by this Agreement will conflict in any material respect or constitute a breach under any agreement or instrument by which Seller or the
Property is bound; 
 11.2.2 Service Contracts. To Seller’s knowledge, the Service Contracts listed on Exhibit 1.2(ii)
are all of the agreements concerning the operation and maintenance of the Property entered into by Seller and affecting the Property, except those operating agreements that are not assignable; 
 11.2.3 Condemnation. To Seller’s knowledge, Seller has received no written notice of any pending condemnation proceedings relating to the
Real Property; 
 11.2.4 Litigation. To Seller’s knowledge, Seller has not received written notice of any litigation which has
been filed against the Property or the Seller that arises out of the ownership of the Property; 
 11.2.5 Violations. To
Seller’s knowledge, Seller has not received written notice of any violation of any federal, state or local law relating to the use or operation of the Property which remains uncured, provided, however, that Seller has received notice regarding
a potential violation of the Americans with Disabilities Act relating to the lack of a handicapped van pool parking area. To Seller’s knowledge, Seller has not received written notice of any alleged building code violations, health and safety
code violations, federal, state or local agency actions regarding environmental matters or zoning violations currently affecting the Real Property which remain uncured; 
 11.2.6 Access. To the best of Seller’s knowledge, no fact or condition exists which may result in the termination or reduction of the current access from the Real Property to existing roads and highways;

 11.2.7 Foreign Person. Seller is not a “foreign person” as defined in Section 1445 of the Internal Revenue Code of
1986, as amended, and the income tax regulations issued thereunder; 
  

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 11.2.8 Lease. There are no leases, occupancies, tenancies, or rental agreements entered into by
Seller pertaining to the Real Property or any portion thereof, except the Lease which Lease is described on Exhibit 1.2(i) attached hereto. Pursuant to the Lease, Tenant has entered into several subleases. To Seller’s knowledge, except as
disclosed in writing to Buyer or as may be scheduled in the Estoppel Certificate, Seller has not received written notice of any claimed default by Seller under the Lease and there are no unperformed obligations of Seller pursuant to the Lease;

 11.2.9 Leasing Commissions. As of the Effective Date, there are no leasing commissions required to be paid in connection with the
Lease; and 
 11.2.10 Third Party Reports. To Seller’s knowledge, the Due Diligence Materials described on Exhibit 6.2.1(i)
include all third party reports in Seller’s possession relating to the physical condition of the Real Property. 
 11.3 Buyer’s
Representations and Warranties. Buyer represents and warrants to Seller that: 
 11.3.1 Authority to Execute; Organization. This
Agreement constitutes the valid and binding obligation of Buyer and is enforceable against Buyer in accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforcement of creditors’ rights generally and
general equitable principles. Buyer represents that it is a limited liability company, validly formed, and duly organized and in good standing under the laws of the State of Delaware, and the execution of this Agreement, delivery of money, and all
required documents, Buyer’s performance of this Agreement and the transaction contemplated hereby have been duly authorized by the requisite action on the part of Buyer; and 
 11.3.2 No Encumbrance. Prior to Closing, Buyer shall neither encumber nor cause any liens to be created against the Property in any way, nor shall
Buyer, at any time, record this Agreement or a memorandum thereof. 
 11.4 Knowledge Defined. References to the “knowledge”
of Seller and phrases of similar import shall refer only to the current actual (not constructive) knowledge of Douglas C. Rosenberg and Michael Karasik and shall not be construed, by imputation or otherwise, to refer to the knowledge of any
affiliate of Seller, to any property manager, or to any other officer, agent, manager, representative or employee of Seller or any affiliate thereof or to impose upon such person any duty to investigate the matter to which such actual knowledge, or
the absence thereof, pertains. Seller represents that Douglas C. Rosenberg and Michael Karasik are each active in the management and operation of the Property. 
  

	 	12.	INDEMNIFICATION. 

 12.1 Indemnification of
Buyer. Seller hereby agrees to indemnify Buyer against, and to hold Buyer harmless from, all liabilities, losses, damages, costs and expenses whatsoever including without limitation reasonable legal fees and disbursements, incurred by Buyer
relating to the Property which arise, result from or relate to (i) acts, occurrences or matters 

  

 20 

 
that took place prior to the Closing to the extent that any such claim described in this clause (i) is covered by the commercial general liability
insurance policy maintained by Seller or otherwise covered pursuant to applicable insurance coverage maintained by Seller and in this connection Seller represents and warrants that Seller has during the period of its ownership maintained and
continues to maintain commercial general liability insurance coverage; and (ii) any material breach of any of the representations or warranties of Seller set forth in Section 11.2 of this Agreement subject, however, to the limitations of
Section 16.4. 
 12.2 Defense of Claims Against Buyer. With respect to any claim for which Buyer has requested indemnification
under Section 12.1, Seller shall be entitled to assume the defense of any related litigation, arbitration or other proceeding, provided that Buyer may at its election and expense, participate in such defense, and provided further that if there
is any difference of opinion or strategy with respect to the defense of such action or the assertion of counterclaims to be brought with respect thereto, Seller’s counsel will, after consultation with Buyer’s counsel, determine the actual
strategy, defense or counterclaim to be employed. At Seller’s reasonable request, Buyer will cooperate with Seller in the preparation of any defense for any such claim and Seller will reimburse Buyer for any reasonable expenses incurred in
connection with such request. If Seller does not elect to assume the defense of any such matter and such matter is defended by Buyer, Seller shall have the right, at its sole expense, to employ separate counsel acceptable to Buyer and participate in
such defense, provided that if there is any difference of opinion or strategy with respect to the defense of such action or the assertion of counterclaims to be brought with respect thereto, Buyer’s counsel will, after consultation with
Seller’s counsel, determine the actual strategy, defense and/or counterclaim to be employed. 
 12.3 Indemnification of Seller.
Buyer hereby agrees to indemnify Seller against, and to hold Seller harmless from, all liabilities, losses, damages, costs and expenses whatsoever including without limitation reasonable legal fees and disbursements, incurred by Seller relating to
the Property which arise, result from or relate to (i) acts, occurrences or matters that take place subsequent to the Closing to the extent that any such claim described in this clause (i) is covered by the commercial general liability
insurance policy maintained by Buyer or otherwise covered pursuant to applicable insurance coverage maintained by Buyer and in this connection Buyer represents and warrants that Buyer will during the period of its ownership maintain commercial
general liability insurance coverage; or (ii) any material breach of any of the representations or warranties of Buyer set forth in Section 11.3 of this Agreement. 
 12.4 Defense of Claims Against Seller. With respect to any claim for which Seller has requested indemnification under Section 12.3, Buyer
shall be entitled to assume the defense of any related litigation, arbitration or other proceeding, provided that Seller may at its election and expense, participate in such defense, and provided further that if there is any difference of opinion or
strategy with respect to the defense of such action or the assertion of counterclaims to be brought with respect thereto, Buyer’s counsel will, after consultation with Seller’s counsel, determine the actual strategy, defense or
counterclaim to be employed. At Buyer’s reasonable request, Seller will cooperate with Buyer in the preparation of any defense for any such claim and Buyer will reimburse Seller for any reasonable expenses incurred in connection with such
request. If Buyer does not elect to assume the defense of any such matter, and such matter is defended by Seller, Buyer shall have the right, at its sole expense, to employ 

  

 21 

 
separate counsel acceptable to Seller and participate in such defense, provided that if there is any difference of opinion or strategy with respect to the
defense of such action or the assertion of counterclaims to be brought with respect thereto, Seller’s counsel will, after consultation with Buyer’s counsel, determine the actual strategy, defense and/or counterclaim to be employed.

 13. CASUALTY OR CONDEMNATION. 
 13.1 Casualty. Prior to the Closing, and notwithstanding the pendency of this Agreement, the entire risk of loss or damage by earthquake, flood, landslide, fire or other casualty shall be borne and assumed by Seller, except as
otherwise provided in this Section 13.1. If, prior to the Closing, any part of the Real Property is damaged or destroyed by earthquake, flood, landslide, fire or other casualty, Seller shall immediately notify Buyer of such fact. If such damage
or destruction is “material”, Buyer shall have the option to terminate this Agreement upon notice to Seller given not later than ten (10) days after receipt of Seller’s notice. For purposes of this Section 13.1,
“material” shall be deemed to be any damage or destruction (i) where the costs of repair or replacement is estimated to be Three Hundred Thousand Dollars ($300,000.00), or more, (ii) which Seller reasonably estimates shall take
more than ninety (90) days to repair, (iii) which results in access to or parking on the Real Property being adversely affected in a material respect, (iv) which damage results in the Real Property failing to comply in a material
respect with zoning or any covenants, conditions, or restrictions affecting the Real Property, (v) which damage entitles the Tenant to terminate the Lease, or (vi) where the cost of repair or replacement is uninsured by an amount in excess
of Ten Thousand Dollars ($10,000). In the case of an uninsured loss, Seller, at its election, shall be entitled (but not required) to pay (or credit to Buyer against the Purchase Price) the amount of the excess (i.e., in excess of $10,000) and,
thereby, nullify the option of Buyer otherwise existing to terminate this Agreement. If Buyer does not exercise this option to terminate this Agreement, or the casualty is not material, neither party shall have the right to terminate this Agreement,
but Seller shall assign and turn over to Buyer, and Buyer shall be entitled to receive and keep all insurance proceeds payable to it with respect to such destruction (but not in excess of the Purchase Price) and the parties shall proceed to the
Closing pursuant to the terms hereof without modification of the terms of this Agreement and without any reduction in the Purchase Price provided that Buyer shall be entitled to a credit at Closing against the Purchase Price in an amount equal to
any deductible with respect to any applicable insurance coverage (exclusive, however, of any deductible relating to a casualty resulting from earthquake or flood). If Buyer does not elect to terminate this Agreement by reason of any casualty, Buyer
shall have the right to participate in any adjustment in the insurance claim. If Buyer does terminate this Agreement pursuant to this Section 13.1, this Agreement shall terminate, all rights and obligations hereunder of each party shall be at
an end (except those matters which are specifically stated in this Agreement to survive the termination) and the Escrow Agent is hereby instructed to return promptly to the party which placed such items into Escrow all funds (including the Deposit
which is to be promptly returned to Buyer) and documents which are held by the Escrow Agent on the date of termination. 
 13.2
Condemnation. In the event that all or any substantial portion of the Real Property shall be taken in condemnation or under the right of eminent domain after the Effective Date and before the Closing, Buyer may, at its option either
(a) terminate this Agreement by 

  

 22 

 
written notice thereof to Seller and receive an immediate refund of the Deposit, together with any interest earned thereon, or (b) proceed to close the
transaction contemplated herein pursuant to the terms hereof in which event Seller shall assign and turn over to Buyer, and Buyer shall be entitled to receive and keep all awards for the taking by eminent domain which accrue to Seller and there
shall be no reduction in the Purchase Price. For purposes of this provision, a “substantial portion” of the Real Property shall mean (i) any material portion of the Real Property is taken; (ii) the access to the Real Property or
any available parking area therefore is materially reduced or restricted; (iii) any of the rentable square footage of the Improvements is taken; (iv) the amount of any condemnation award is estimated to exceed Two Million Dollars
($2,000,000); (v) condemnation results in the Real Property failing to comply in a material respect with any zoning or any covenants, conditions, or restrictions affecting the Real Property; or (vi) the condemnation entitles the Tenant to
terminate the Lease. In the event that a portion of the Real Property less than a substantial portion is taken, or Buyer elects not to terminate this Agreement, Buyer shall proceed to close the transaction contemplated herein and there shall be no
reduction in the Purchase Price and Seller shall assign and turn over to Buyer and Buyer shall be entitled to receive and keep all awards for the taking by eminent domain which accrue to Seller. 
 14. COMMISSIONS. 
 14.1 Payment of
the Sales Commission. Seller represents and warrants to Buyer that no real estate broker or agent has been authorized to act on Seller’s behalf except for CB Richard Ellis (“Seller’s Agent”). Subject to the occurrence
of the Closing, Seller shall pay to Seller’s Agent as a real estate brokerage commission an amount as separately agreed by Seller and Seller’s Agent. Buyer represents and warrants to the Seller that no real estate broker or agent has been
authorized to act on Buyer’s behalf. Buyer and Seller each indemnifies the other party and agrees to defend and hold the other party harmless from any and all demands or claims which now or hereafter may be asserted against the other party for
any brokerage fees, commissions or similar types of compensation which may be claimed by any broker as a result of the indemnifying party’s acts in connection with this transaction, except as otherwise provided herein. 
 14.2 Leasing Commissions and Landlord Tenant Improvements. Subject to the provisions of Section 10.3 above, Buyer shall pay all leasing
commissions, landlord tenant improvement costs and landlord reasonable attorneys’ fees relative to any leases, extensions, or renewals made on or after the Effective Date to the extent (i) such costs are disclosed to Buyer prior to entry
by Seller into any new lease with respect to which such costs are incurred and (ii) with respect to the existing Lease, such costs are disclosed to Buyer prior to entry into any amendment or other modification of the Lease. 
  

	 	15.	NOTICES. 

 All notices, requests or demands to a
party hereunder shall be in writing and shall be given or served upon the other party by personal service, by certified return receipt requested or registered mail, postage prepaid, or by Federal Express or other nationally recognized commercial
courier, charges prepaid, addressed as set forth below. Any such notice, demand, 

  

 23 

 
request or other communication shall be deemed to have been given upon the earlier of personal delivery thereof, three (3) business days after having
been mailed as provided above, or one (1) business day after delivery to a commercial courier for next business day delivery, as the case may be. Notices may be given by facsimile and shall be effective upon the transmission of such facsimile
notice provided that the facsimile notice is transmitted prior to 5:00 p.m. Pacific Time on a business day and evidence of its successful transmission indicating the date and time of transmission is available for inspection upon request. Each party
shall be entitled to modify its address by notice given in accordance with this Section 15. 
  

			
	If to Seller:	  	Rosenberg Soma Investments III, LLC
		  	c/o The Rosenberg Company
		  	153 Townsend Street, Suite 530
		  	San Francisco, CA 94107
		  	Attn: Douglas C. Rosenberg
		  	Fax: (415) 777-9830
		
	With a copy to:	  	Kay & Merkle, LLP
		  	100 The Embarcadero, Penthouse
		  	San Francisco, CA 94105
		  	Attn: Walter F. Merkle, Esq.
		  	Fax: (415) 512-9277
		
	If to Buyer:	  	KBS Realty Advisors, LLC
		  	201 California Street, Suite 470
		  	San Francisco, CA 94111
		  	Attn: Mr. Peter Mette
		  	Fax: (415) 962-0188
		
	With a copy to:	  	Morgan, Lewis & Bockius LLP
		  	5 Park Plaza, Suite 1750
		  	Irvine, CA 92614
		  	Attn: Bruce Fischer, Esq.
		  	Fax: 949.399.7001

 16. LIMITATIONS ON REPRESENTATIONS AND WARRANTIES. 
 16.1 No Reliance on Documents. Except as may be expressly stated in this Agreement, Seller makes no representation or warranty as to the truth,
accuracy or completeness of any materials, data or information delivered by Seller or its agents to Buyer in connection with the transaction contemplated hereby. Buyer acknowledges and agrees that all materials, data and information delivered by
Seller to Buyer in connection with the transaction contemplated hereby are provided to Buyer as a convenience only and that any reliance on or use of such materials, data or information by Buyer shall be at the sole risk of Buyer. Neither Seller,
nor any affiliate of Seller, nor the person or entity which prepared any report or reports delivered by Seller to Buyer shall have any liability to Buyer for any inaccuracy in or omission from any such reports. 
  

 24 

 16.2 As-Is Sale: Disclaimers. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, IT IS UNDERSTOOD
AND AGREED THAT SELLER IS NOT MAKING AND HAS NOT AT ANY TIME MADE ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND OR CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OR REPRESENTATIONS AS TO
HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 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 TO THE EXTENT EXPRESSLY PROVIDED OTHERWISE IN THIS AGREEMENT. BUYER HAS NOT RELIED AND WILL NOT RELY ON, AND SELLER IS NOT LIABLE FOR OR BOUND
BY, ANY EXPRESS OR IMPLIED WARRANTIES, GUARANTIES, STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE PROPERTY OR RELATING THERETO (INCLUDING SPECIFICALLY, WITHOUT LIMITATION, OFFERING PACKAGES DISTRIBUTED WITH RESPECT TO THE PROPERTY)
MADE OR FURNISHED BY SELLER, THE MANAGER OF THE PROPERTY, OR ANY EMPLOYEES OR AGENTS REPRESENTING OR PURPORTING TO REPRESENT SELLER, TO WHOMEVER MADE OR GIVEN, DIRECTLY OR INDIRECTLY, ORALLY OR IN WRITING, UNLESS SPECIFICALLY SET FORTH IN THIS
AGREEMENT. BUYER ALSO ACKNOWLEDGES THAT THE PURCHASE PRICE REFLECTS AND TAKES INTO ACCOUNT THAT THE PROPERTY IS BEING SOLD “AS-IS.” 
 BUYER REPRESENTS TO SELLER THAT BUYER HAS CONDUCTED, OR WILL CONDUCT PRIOR TO CLOSING, SUCH INVESTIGATIONS OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AS BUYER DEEMS NECESSARY OR
DESIRABLE TO SATISFY ITSELF AS TO THE CONDITION OF THE PROPERTY AND THE EXISTENCE OR NONEXISTENCE OR CURATIVE ACTION TO BE TAKEN WITH RESPECT TO ANY HAZARDOUS OR TOXIC SUBSTANCES 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, BUYER SHALL
ACCEPT THE PROPERTY SUBJECT TO THE RISK THAT ADVERSE MATTERS, INCLUDING BUT NOT LIMITED TO, CONSTRUCTION DEFECTS AND ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY BUYER’S INVESTIGATIONS, AND BUYER, UPON CLOSING
(EXCEPT WITH RESPECT TO THE EXPRESS REPRESENTATIONS AND WARRANTIES OF SELLER SET FORTH IN THIS AGREEMENT), SHALL BE DEEMED TO HAVE WAIVED, RELINQUISHED AND RELEASED SELLER (AND SELLER’S OFFICERS, DIRECTORS, MANAGERS, SHAREHOLDERS, MEMBERS,
EMPLOYEES AND AGENTS) FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, CAUSES OF ACTION (INCLUDING CAUSES OF ACTION IN TORT, EXCLUDING FRAUD), 

  

 25 

 
LOSSES, DAMAGES, LIABILITIES, COSTS AND EXPENSES (INCLUDING REASONABLE ATTORNEYS’ FEES) OF ANY AND EVERY KIND OR CHARACTER, KNOWN OR UNKNOWN, WHICH
BUYER MIGHT HAVE ASSERTED OR ALLEGED AGAINST SELLER (AND SELLER’S OFFICERS, DIRECTORS, MANAGERS, SHAREHOLDERS, MEMBERS, EMPLOYEES AND AGENTS) AT ANY TIME BY REASON OF OR ARISING OUT OF ANY LATENT OR PATENT CONSTRUCTION DEFECTS OR PHYSICAL
CONDITIONS, VIOLATIONS OF ANY APPLICABLE LAWS AND ANY AND ALL OTHER ACTS, OMISSIONS, EVENTS, CIRCUMSTANCES OR MATTERS REGARDING THE PROPERTY. WITHOUT LIMITING THE FOREGOING RELEASE AND WAIVER, BUYER ACKNOWLEDGES AND AGREES THAT THE FOREGOING WAIVER
INCLUDES WAIVER OF AND THAT BUYER KNOWINGLY AND INTENTIONALLY WAIVES ANY DISCLOSURES, OBLIGATIONS, OR REQUIREMENTS OF SELLER WITH RESPECT TO THE FOLLOWING CALIFORNIA CODE SECTIONS: GOVERNMENT CODE SECTIONS 8589.3 AND 8589.4 (POTENTIAL FLOOD AREAS);
51183.5 (HIGH FIRE HAZARD SEVERITY ZONE); PUBLIC RESOURCE CODE SECTIONS 2621.9 (EARTHQUAKE FAULT ZONE), 2694 (SEISMIC HAZARD ZONE), 4136 (WILDLAND AREA); AND HEALTH & SAFETY CODE SECTION 19211 (WATER HEATER CERTIFICATION) AND ACKNOWLEDGES
AND AGREES THAT BUYER HAS HAD AN OPPORTUNITY TO INDEPENDENTLY EVALUATE AND INVESTIGATE THE MATTERS AS DESCRIBED IN SUCH CODE SECTIONS WITH RESPECT TO THE PROPERTY. IN CONNECTION WITH THE ABOVE WAIVERS, BUYER HEREBY WAIVES THE PROVISIONS OF
CALIFORNIA CIVIL CODE SECTION 1542 WHICH PROVIDES THAT: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW
OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
  

			
		  	
	Buyer’s Initials	  	Seller’s Initials

 In no event shall the above provisions of Section 16.2 be construed to release Seller from
any of its express representations, warranties, or covenants pursuant to this Agreement or from any claims or actions Buyer may have against Seller following the Closing relating to third party claims asserted against Buyer with respect to matters
occurring prior to the Closing and during Seller’s ownership of the Property. 
 16.3 Material Change. Seller shall promptly
notify Buyer of any change in any condition with respect to the Property or any event or circumstance which makes any representation or warranty of Seller as set forth in Section 11.2 of this Agreement materially untrue or misleading or any
covenant of Seller under this Agreement incapable of being performed. In no event shall Seller be liable to Buyer for, or be deemed to be in default pursuant to this Agreement by reason of any inaccuracy of a representation or warranty which results
from any change that occurs between the Effective Date and the Closing Date and is expressly 

  

 26 

 
permitted under the terms of this Agreement or is beyond the reasonable control of Seller to prevent; provided, however, that the occurrence of a material
change which is not permitted hereunder shall constitute the non-fulfillment of the condition set forth in Section 7.2.2 hereof. If, in spite of such non-fulfillment of the conditions set forth in such Section 7.2.2 the Closing occurs,
Seller’s representations and warranties set forth in this Agreement shall be deemed to have been modified by all statements made in any notice or notices of modification as given by Seller to Buyer pursuant to this Section 16.3 prior to
the Closing. 
 16.4 Survival of Seller’s Representations and Warranties. The representations and warranties of Seller set forth
in Section 11.2 hereof (as such may have been updated as of the Closing in accordance with Section 16.3) in accordance with the terms of this Agreement, shall survive Closing for a period of nine (9) months. No claim for a breach of
any representation or warranty of Seller shall be actionable or payable if the breach in question results from or is based on a condition, state of facts or other matter which was actually known to Buyer prior to Closing. Seller shall have no
liability to Buyer for a breach of any representation or warranty unless the valid claims for all such breaches collectively aggregate more than Fifty Thousand Dollars ($50,000.00), in which event the amount of such valid claims in excess of Fifty
Thousand Dollars ($50,000.00) shall be actionable, up to the Maximum (as defined in this Section), and unless written notice containing a description of the specific nature of such breach shall have been given by Buyer to Seller prior to the
expiration of said nine (9) month period and any action shall have been commenced by Buyer against Seller within eleven (11) months of Closing. As used herein, the term “Maximum” shall mean the total aggregate amount of
One Million Dollars ($1,000,000.00). 
 16.5 Survival of Limitations. The provisions of this Article 16 shall survive Closing or any
termination of this Agreement. 
  

	 	17.	MISCELLANEOUS. 

 17.1 Time. Time is of the
essence in the performance of each party’s obligations hereunder; however, if the final date of any period which is set out in any provision of this Agreement falls on a Saturday, Sunday or legal holiday under the laws of the United States or
the State in which the Property is located, then, in such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday. Any and all notices to be given pursuant to this Agreement shall be given
prior to 5:00 p.m. Pacific Standard Time on the applicable date. References to a “day” unless otherwise expressly provided, shall be considered to be a reference to a calendar day. 
 17.2 Attorneys’ Fees. If any legal action, arbitration or other proceeding is commenced to enforce or interpret any provision of this
Agreement, the prevailing party shall be entitled to an award of its attorneys’ fees and expenses. The phrase “prevailing party” shall include a party who receives substantially the relief desired whether by dismissal, summary
judgment, judgment or otherwise. 
  

 27 

 17.3 No Waiver. No waiver by any party of the performance or satisfaction of any covenant or
condition shall be valid unless in writing and shall not be considered to be a waiver by such party of any other covenant or condition hereunder. 
 17.4 Entire Agreement. This Agreement contains the entire agreement between the parties regarding the Property and supersedes all prior agreements, whether written or oral, between the parties regarding the same subject. This
Agreement may only be modified in writing. 
 17.5 Survival. The provisions of this Agreement shall not merge with the delivery of the
Deed but shall, except as otherwise provided in this Agreement, survive the Closing. 
 17.6 Successors and Assigns. This Agreement
shall be binding upon and inure to the benefit of the heirs, executors, administrators and successors and assigns of Seller and Buyer; provided, however, that Buyer shall not assign Buyer’s rights and obligations pursuant to this Agreement to
any party without the prior written consent of Seller which consent may be withheld in its sole and absolute discretion. Notwithstanding the above sentence to the contrary, Buyer shall be entitled to assign its rights and obligations without the
consent of Seller to an entity for which Buyer (or an affiliate of Buyer) acts as the investment advisor. Buyer shall give Seller written notice of any such assignment at least five (5) business days prior to the intended date for Closing. No
assignment by Buyer shall relieve Buyer of any of its obligations or liabilities pursuant to this Agreement. 
 17.7 Severability. In
the case that any one or more of the provisions contained in this Agreement are for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision hereof,
and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 
 17.8
Captions. Paragraph titles or captions contained in this Agreement are inserted as a matter of convenience only and for reference, and in no way define, limit, extend or describe the scope of this Agreement. 
 17.9 Exhibits. All exhibits attached hereto shall be incorporated herein by reference as if set out herein in full. 
 17.10 Relationship of the Parties. The parties acknowledge that neither party is an agent for the other party, and that neither party shall or can
bind or enter into agreements for the other party. 
 17.11 Governing Law. This Agreement and the legal relations between the parties
hereto shall be governed by and be construed in accordance with the laws of the State of California. 
  

 28 

 17.12 Review by Counsel. The parties acknowledge that each party and its counsel have reviewed and
approved this Agreement, and the parties hereby 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
amendments or exhibits hereto. 
 17.13 Non-Disclosure. The parties hereto shall not disclose any of the material terms of this
Agreement (except to the extent as may be required by law or as required by the Title Company or to the officers, directors, partners and employees of the parties hereto in the ordinary course of business) without the prior written consent of the
other party except that each party may make disclosure to its respective lawyers, accountants, advisors, investors, lenders, members, and shareholders provided that, following the Closing, and subject to the occurrence of the Closing, Seller and
Buyer shall be entitled to make such disclosures as are reasonably appropriate in connection with the subject transaction. In addition, nothing contained in this Section 17.13 shall impair Buyer’s right to make REIT disclosures permitted
in Section 6.2.4 above of this Agreement. 
 17.14 Counterparts. This Agreement may be executed in counterparts, each of which
shall constitute an original. This Agreement shall only be effective if a counterpart is signed by both Seller and Buyer. 
 17.15 Filing
of Reports. The Escrow Agent shall be solely responsible for the timely filing of any reports or returns required pursuant to the provisions of Section 6045(e) of the Internal Revenue Code of 1986 as amended (and any similar reports or
returns required under any state or local laws) in connection with the Closing. 
 17.16 1031 Exchange. In connection with the
transactions contemplated by this Agreement, Seller or Buyer may wish to engage in a tax deferred exchange pursuant to Section 1031 of the Internal Revenue Code of 1986 as amended. Each of Buyer and Seller agrees to reasonably cooperate with
the other in connection with any such exchange, provided, however, that the non-exchanging party will not be required to take title to any real property (other than the Real Property with respect to Buyer) or become a party to any agreement other
than a consent to assignment or like document; the non-exchanging party shall not incur any additional liability or expense by reason of such exchange; the exchanging party will indemnify and hold the non-exchanging party harmless for, from and
against any claim, demand, cause of action, liability or expense (including attorney’s fees) in connection therewith, including, without limitation, any increase in escrow fees or charges resulting from such exchange; and the exchanging party
acknowledges and agrees and that the non-exchanging party has not made and will not make any representation or warranty as to the effectiveness for tax purposes of any such exchange. The exchanging party must notify the non-exchanging party at least
five (5) business days before the contemplated date of Closing if the exchanging party intends to proceed pursuant to this Section 17.16. 
 17.17 Licensed Real Estate Brokers. Buyer hereby acknowledges that (a) ROK Properties, Inc., a California corporation (“ROK”) is an affiliate of Seller, is a licensed real estate broker under the laws of the
State of California, (b) Michael Karasik, officer of ROK, is 

  

 29 

 
similarly so licensed and (c) no agency relationship has been created between Seller and Buyer (or between ROK or Michael Karasik and Buyer) with
respect to the transactions subject to this Agreement. 
 17.18 Third Party Beneficiaries. This Agreement is for the benefit of Buyer
and Seller and their respective agents, employees, shareholders, officers, directors, partners, managers, members, and successors and no third party shall be entitled to the benefit of any of the provisions of this Agreement. 
 17.19 Facsimile Signatures. Seller and Buyer each (a) has agreed to permit the use from time to time, where appropriate, of telecopy
signatures in order to expedite the transaction contemplated by this Agreement, (b) intends to be bound by its respective telecopy signature, (c) is aware that the other will rely on the telecopied signature, and (d) acknowledges such
reliance and waives any defenses to the enforcement of this Agreement and the documents affecting the transaction contemplated by this Agreement based on the fact that a signature was sent by telecopy only. 
 18. DEFAULT. 
 18.1 Liquidated
Damages. FROM AND AFTER THE EXPIRATION OF THE DUE DILIGENCE PERIOD, IN THE EVENT THE SALE OF THE PROPERTY AS CONTEMPLATED HEREUNDER IS NOT CONSUMMATED DUE TO A DEFAULT OF BUYER, THE DEPOSIT (INCLUDING ALL INTEREST EARNED FROM THE INVESTMENT
THEREOF) SHALL BE PAID TO AND RETAINED BY SELLER AS LIQUIDATED DAMAGES. THE PARTIES ACKNOWLEDGE THAT SELLER’S ACTUAL DAMAGES IN THE EVENT THAT THE SALE IS NOT CONSUMMATED WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE. THEREFORE, BY
SEPARATELY EXECUTING THIS SECTION 18.1 BELOW, THE PARTIES ACKNOWLEDGE THAT THE DEPOSIT HAS BEEN AGREED UPON, AFTER NEGOTIATION, AS THE PARTIES’ REASONABLE ESTIMATE OF SELLER’S DAMAGES AND AS SELLER’S EXCLUSIVE REMEDY AGAINST BUYER IN
THE EVENT THE CLOSING DOES NOT OCCUR AND AS SELLER’S SOLE AND EXCLUSIVE REMEDY AGAINST BUYER ARISING FROM SUCH FAILURE OF THE SALE TO CLOSE. IN ADDITION, BUYER SHALL PAY ALL TITLE, SURVEY AND ESCROW CANCELLATION CHARGES. NOTWITHSTANDING THE
FOREGOING, IN NO EVENT SHALL THIS SECTION 18.1 LIMIT THE DAMAGES RECOVERABLE BY EITHER PARTY AGAINST THE OTHER PARTY DUE TO (A) THE OTHER PARTY’S OBLIGATION TO INDEMNIFY SUCH PARTY IN ACCORDANCE WITH THIS AGREEMENT, OR (B) THIRD PARTY
CLAIMS. BY THEIR SEPARATELY EXECUTING THIS SECTION 18.1 BELOW, BUYER AND SELLER ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTOOD THE ABOVE PROVISION COVERING LIQUIDATED DAMAGES, AND THAT EACH PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED THE
CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION AT THE TIME THIS AGREEMENT WAS EXECUTED. 
  

 30 

			
	Buyer’s Initials	 	Seller’s Initials

 18.2 Default by Seller. In the event the sale of the Property as contemplated hereunder is
not consummated due to Seller’s default hereunder, Buyer shall be entitled, as its sole remedy, either (a) to receive (i) the return of the Deposit, which return shall operate to terminate this Agreement and release Seller from any
and all liability hereunder and (ii) reimbursement for all third party out-of-pocket costs incurred by Buyer in connection with its due diligence with respect to the Property (subject, however, to an aggregate maximum amount of Seventy-Five
Thousand Dollars ($75,000)), or (b) to enforce specific performance of Seller’s obligation to convey the Property to Buyer in accordance with the terms of this Agreement, it being understood and agreed that the remedy of specific
performance shall not be available to enforce any other obligation of Seller hereunder. Buyer expressly waives its rights to seek damages in the event of Seller’s default hereunder, except for damages with respect to third party reimbursed
costs as expressly set forth above in this Section 18.2. Buyer shall be deemed to have elected to terminate this Agreement and receive back the Deposit, as well as reimbursement for third party costs if Buyer fails to file suit for specific
performance against Seller in a court having jurisdiction in the county and state in which the Real Property is located, on or before thirty (30) days following the date upon which Closing was to have occurred. 
 19. DEFINITIONS. For ease of reference, the defined terms as employed in this Agreement and as listed below are defined in the designated sections

  

			
	19.1	 	“Agreement” as defined in the first paragraph
	19.2	 	“Approval Notice” as defined in Section 6.7
	19.3	 	“Assignment” as defined in Section 1.2
	19.4	 	“Bill of Sale” as defined in Section 8.1.2
	19.5	 	“Buyer” as defined in the first paragraph
	19.6	 	“Buyer’s 3-14 Audit” as defined in Section 6.2.1
	19.7	 	“Buyer’s Representatives” as defined in Section 6.4
	19.8	 	“Buyer’s Reports” as defined in Section 6.5
	19.9	 	“Buyer’s Title Policy” as defined in Section 3.2
	19.10	 	“Closing” as defined in Section 5.1
	19.11	 	“Closing Date” as defined in Section 5.1
	19.12	 	“Deed” as defined in Section 8.1.1
	19.13	 	“Deposit” as defined in Section 2.1
	19.14	 	“Deposit #1” as defined in Section 2.1
	19.15	 	“Deposit #2” as defined in Section 2.1
	19.16	 	“Deposit #3” as defined in Section 2.1
	19.17	 	“Due Diligence Date” as defined in Section 6.1
	19.18	 	“Due Diligence Materials” as defined in Section 6.2
	19.19	 	“Due Diligence Period” as defined in Section 6.1
	19.20	 	“Effective Date” as defined in the first paragraph
	19.21	 	“Escrow” as defined in Section 4.1
	19.22	 	“Escrow Agent” as defined in Section 4.1

  

 31 

			
	19.23	 	“Estoppel Certificate” as defined in Section 7.2.6
	19.24	 	“Extension Notice” as defined in Section 5.1
	19.25	 	“Improvements” as defined in Section 1.1.2
	19.26	 	“Intangible Property” as defined in Section 1.2
	19.27	 	“Land” as defined in Section 1.1.1
	19.28	 	“Lease” as defined in Section 1.2
	19.29	 	“LOC” as defined in Section 9.2.3
	19.30	 	“Maximum” as defined in Section 16.4
	19.31	 	“Permitted Exceptions” as defined in Section 3.3
	19.32	 	“Personal Property” as defined in Section 1.1.3
	19.33	 	“Property” as defined in Section 1.1
	19.34	 	“Purchase Price” as defined in Section 2.
	19.35	 	“Real Property” as defined in Section 1.1.2
	19.36	 	“REIT” as defined in Section 6.2.4
	19.37	 	“ROK” as defined in Section 17.17
	19.38	 	“Seller” as defined in the first paragraph
	19.39	 	“Seller Certificate” as defined in Section 8.1.6
	19.40	 	“Seller’s Agent” as defined in Section 14.1
	19.41	 	“Service Contracts” as defined in Section 1.2
	19.42	 	“SNDA” as defined in Section 6.8
	19.43	 	“Subsequent Title Defects Notice” as defined in Section 6.3.3
	19.44	 	“Survey” as defined in Section 6.3.1
	19.45	 	“Tenant” as defined in Section 3.3.3
	19.46	 	“Tenant Notification Letter” as defined in Section 8.3
	19.47	 	“Title Commitment” as defined in Section 6.3.4
	19.48	 	“Title Company” as defined in Section 4.1
	19.49	 	“Title Notice” as defined in Section 6.3.2
	19.50	 	“Title Report” as defined in Section 6.3.1
	19.51	 	“Title Review Period” as defined in Section 6.3

  

 32 

 IN WITNESS WHEREOF, the parties hereto have caused this Purchase and Sale Agreement to be duly executed
and delivered as of the day and year first above written. 
  

											
	SELLER:	 	BUYER:
		
	 Rosenberg Soma Investments III, LLC,
 a
Delaware limited liability company
	 	 KBS Realty Advisors, LLC
 a Delaware
limited liability company

				
	By:	 	TRC Investors III, LLC,	 	By:	 	 /s/ Authorized Signatory

		 	a California limited liability company,	 	Name:	 	  

		 	its Manager	 	Its:	 	  

					
		 	By:	 	The Rosenberg Company,	 		 	
		 		 	 a California corporation,
 its
Manager
	 		 	
						
		 		 	By:	 	 /s/ Douglas C. Rosenberg
	 		 	
		 		 		 	Douglas C. Rosenberg,	 		 	
		 		 		 	President	 		 	

  

 33 

 LIST OF EXHIBITS 
  

					
	Exhibit 1.1.1	 	-	    	Legal Description of Land
			
	Exhibit 1.2 (i)	 	-	    	Schedule of Lease
			
	Exhibit 1.2 (ii)	 	-	    	Schedule of Service Contracts
			
	Exhibit 6.2.1(i)	 	-	    	Delivered Materials
			
	Exhibit 6.2.1(ii)	 	-	    	Buyer’s 3-14 Audit Documents
			
	Exhibit 6.7	 	-	    	Form of Approval Notice
			
	Exhibit 7.2.6	 	-	    	Form of Estoppel Certificate
			
	Exhibit 8.1.1	 	-	    	Form of Grant Deed
			
	Exhibit 8.1.2	 	-	    	Form of Bill of Sale
			
	Exhibit 8.1.3	 	-	    	Form of Assignment and Assumption Agreement
			
	Exhibit 8.1.6	 	-	    	Form of Seller Certificate
			
	Exhibit 8.2.3	 	-	    	Form of Buyer’s Affidavit
			
	Exhibit 8.3	 	-	    	Form of Tenant Notification Letter

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