Document:

Third Amendment to Sale, Purchase and Escrow Agreement (Property Pool A)

 Exhibit 10.40 
 THIRD AMENDMENT TO SALE, PURCHASE AND ESCROW AGREEMENT (PROPERTY POOL A) 
 This Third Amendment to Sale, Purchase and Escrow Agreement (Property Pool A) (this “Third Amendment”) is made and entered into as of November 29, 2010, by and among GRE Glendale
LLC, a Delaware limited liability company (“Glendale Seller”), GRE Empire Towers LP, a Delaware limited partnership (“Empire Towers Seller”), GRE Cornerstone LLC, a Delaware limited liability company
(“Cornerstone Seller”), GRE Kearny Mesa LP, a Delaware limited partnership (“Mesa Seller”), GRE Rio Vista LP, a Delaware limited partnership (“Rio Vista Seller”), GRE Walnut Creek LLC, a Delaware
limited liability company (“Walnut Creek Seller” and with Glendale Seller, Empire Towers Seller, Cornerstone Seller, Mesa Seller, and Rio Vista Seller, each individually a “Seller” and, collectively,
“Sellers”), and Pacific Office Properties, L.P., a Delaware limited partnership (“Purchaser”). 

RECITALS: 

A. Sellers and Pacific Office Management, Inc., a Delaware corporation (“Original Purchaser”) entered into that certain
Sale, Purchase and Escrow Agreement (Property Pool A) dated as of August 12, 2010 (the “Original Agreement”), as amended by (i) that certain First Amendment to Sale, Purchase and Escrow Agreement (Property Pool A) dated as
of August 30, 2010 (the “First Amendment”), by and among Sellers and Original Purchaser, and (ii) that certain Second Amendment to Sale, Purchase and Escrow Agreement (Property Pool A) dated as of October 22, 2010
(the “Second Amendment”), by and among Sellers and Purchaser (the Original Agreement, as so amended, is referred to herein as the “Agreement”) respecting the purchase and sale of “Property Pool A”
(as more particularly described in the Agreement). All initial capitalized terms used herein but not herein defined shall have the meaning ascribed to such terms in the Agreement. Purchaser has received an assignment of the interest of
“Purchaser” under the Agreement pursuant to that certain Assumption and Assumption Agreement dated as of September 2, 2010, by and between Original Purchaser and Purchaser. 

B. Seller and Purchaser now desire to enter into this Third Amendment to provide for certain modifications to the Agreement, as more
particularly set forth herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Purchaser and Sellers agree as follows: 
 1. Within three (3) business days following the full
execution and delivery of this Third Amendment by Sellers and Purchaser, Purchaser shall deposit into the escrow with Escrow Agent by bank wire of immediately available funds the sum of Five Hundred Seventy Thousand Dollars ($570,000.00) (the
“Third Deposit”). The Third Deposit shall be included within the meaning of “Deposit” and shall be applied to the Purchase Price at Closing. 
 2. On the date that is three (3) business days following the full execution and delivery of this Third Amendment by Sellers and Purchaser, the Escrow Agent shall release from the Deposit then held in
escrow to Sellers by bank wire of immediately available funds the sum of Two Million Two Hundred Eighty Thousand Dollars ($2,280,000.00) (the “Released Funds”), which Released Funds shall be non-refundable to Purchaser unless the
Closing fails to occur for a reason other than a default by Purchaser, and shall be applied to the Purchase Price at Closing. 

3. If, and only if, the Closing occurs, then upon the Closing, in addition to payment of the Purchase Price, Purchaser shall reimburse to
Sellers a portion of the Closing costs otherwise payable by Sellers pursuant to the Agreement (as hereby amended), including, without limitation, fees due to the Adviser, equal to Eight Hundred Fifty-Five Thousand Dollars ($855,000.00), by bank wire
of immediately available funds. 
 4. The Final Closing Date is hereby modified to be January 18, 2011, and shall not be
subject to further extension except that Purchaser shall have the right to further extend the Final Closing Date to January 21, 2011, by (i) written notice thereof delivered to Sellers and Escrow Agent by not later than January 14,
2011, and (ii) deposit into the escrow with Escrow Agent by no later than January 18,2011, by bankwire of immediately available funds, the sum of One Hundred Forty-Two Thousand Five Hundred Dollars ($142,500.00) (the “Fourth
Deposit”). 

  
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which Fourth Deposit shall be included within the meaning of “Deposit” for purposes of the Agreement (as hereby amended) and shall be applied to the Purchase Price at Closing.

 5, The provisions of the Second Amendment as to Purchaser making a Second Purchaser Extension Payment shall not be of any
further force or effect. 
 6, This Third Amendment may be executed in any number of counterparts, each of which shall be deemed
to be an original, but any number of which, taken together, shall be deemed to constitute one and the same instrument. 
 7,
Except as specifically amended by this Third Amendment, the Agreement shall continue in full force and effect. In the event of any conflict between the provisions of the Agreement and the provisions of this Third Amendment, the provisions of this
Third Amendment shall prevail. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, Sellers and Purchaser have entered into this Third Amendment as of the
date first written above. 
  

					
	PURCHASER:
	
	 PACIFIC OFFICE PROPERTIES, L.P.,
 a Delaware limited partnership

		
	By:	 	 PACIFIC OFFICE PROPERTIES TRUST, INC., a Maryland corporation,
 its General Partner

			
		 	By:	 	 /s/ Matthew J. Root

		 		 	 Matthew J. Root, CIO

		 		 	(Print Name and Title)
	
	SELLER:
	
	GRE GLENDALE LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE EMPIRE TOWERS, LP, a Delaware limited partnership

  

					
	By:	 	 GRE Empire Towers GP LLC,
 a Delaware limited liability company
 Its General Partner

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE CORNERSTONE LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

[SIGNATURES CONTINUED ON FOLLOWING PAGE] 

  
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 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 

 

									
	GRE KEARNY MESA, LP, a Delaware limited partnership
		
	By:	 	 GRE Kearny Mesa GP LLC,
 a Delaware limited liability company
 Its General Partner

				
		 	By:	 		 	 Guggenheim Plus Leveraged, LLC,
 a Delaware limited liability company,
 Its Managing Member

					
		 		 		 	By:	 	 /s/ Joseph P. Mahoney

		 		 		 	Name:	 	 Joseph P. Mahoney

		 		 		 	Its:	 	 Authorized Signatory

	
	GRE RIO VISTA, LP, a Delaware limited partnership
		
	By:	 	 GRE Rio Vista GP LLC,
 a Delaware limited liability company
 Its General Partner

				
		 	By:	 		 	 Guggenheim Plus Leveraged, LLC,
 a Delaware limited liability company
 Its Managing Member

					
		 		 		 	By:	 	 /s/ Joseph P. Mahoney

		 		 		 	Name:	 	 Joseph P. Mahoney

		 		 		 	Its:	 	 Authorized Signatory

	
	GRE WALNUT CREEK LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
	`	 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 		 	 Authorized Signatory

  
 4Second Amendment to Sale, Purchase and Escrow Agreement (Property Pool B)

 Exhibit 10.44 
 SECOND AMENDMENT TO SALE, PURCHASE AND ESCROW AGREEMENT (PROPERTY POOL B) 
 This Second Amendment to Sale, Purchase and Escrow Agreement (Property Pool B) (this “Second Amendment”) is made and entered into as of October 22, 2010, by and among GRE Carlton
Plaza LP, a Delaware limited partnership (“Carlton Plaza Seller”), Tustin-Michelle Partners LLC, a Delaware limited liability company (“Toshiba Seller”), GRE Warner Desoto LLC, a Delaware limited liability company
(“Warner Desoto”), GRE Warner Califa LLC, a Delaware limited liability company (“Warner Califa”), GRE Warner Canoga LLC, a Delaware limited liability company (“Warner Canoga” and with Warner Desoto
and Warner Califa, collectively, “Warner Seller”), GRE Empire Towers Four LLC, a Delaware limited liability company (“Empire IV Seller”), GRE Foothill LLC, a Delaware limited liability company (“Foothill
Seller”), GRE Mira Mesa LLC, a Delaware limited liability company (“Alta Sorrento Seller” and with Carlton Plaza Seller, Toshiba Seller, Warner Seller, Empire IV Seller, and Foothill Seller, each individually a
“Seller” and, collectively, “Sellers”), and Pacific Office Properties, L.P., a Delaware limited partnership (“Purchaser”). 
 RECITALS: 
 A. Sellers and Pacific Office Management, Inc., a Delaware
corporation (“Original Purchaser”) entered into that certain Sale, Purchase and Escrow Agreement (Property Pool B) dated as of August 13, 2010 (the “Original Agreement”), as amended by that certain First
Amendment to Sale, Purchase and Escrow Agreement (Property Pool B) dated as of August 30, 2010, by and among Sellers and Original Purchaser (the Original Agreement, as so amended, is referred to herein as the “Agreement”),
respecting the purchase and sale of “Property Pool B” (as more particularly described in the Agreement). All initial capitalized terms used herein but not herein defined shall have the meaning ascribed to such terms in the
Agreement. Purchaser has received an assignment of the interest of “Purchaser” under the Agreement pursuant to that certain Assumption and Assumption Agreement dated as of September 2, 2010, by and between Original Purchaser and
Purchaser. 
 B. Seller and Purchaser now desire to enter into this Second Amendment to provide for (i) an amendment to the
Final Closing Date (as such Final Closing Date may be extended as provided in the Agreement, as hereby amended), and (ii) an amendment to the provisions of Section 6.2 of the Agreement (as heretofore amended), all as more particularly set
forth herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Buyer and Seller agree as follows: 
 1. In the event Purchaser delivers the First Purchaser Extension Payment in
accordance with Section 6.2 of the Agreement (as such Section 6.2 is amended by this Second Amendment), the Final Closing Date shall be modified to be November 12, 2010 (subject to extension of such Final Closing Date as provided in
the Agreement, as hereby amended). 
 2. Section 6.2 of the Agreement (as amended by the First Amendment) is hereby deleted
and the following is substituted in lieu thereof as a new Section 6.2 of the Agreement: “Purchaser may elect to extend the Final Closing Date to a date not later than December 17, 2010 (the “First Purchaser
Extension”) upon delivering written notice to Sellers and Escrow Agent of such election not later than November 9, 2010, and delivering to Escrow Agent by not later than October 25, 2010, by bank wire of immediately available
funds the sum of One Million Two Hundred Ninety Thousand Dollars ($1,290,000) (the “First Purchaser Extension Payment”). The First Purchaser Extension Payment shall be included within the meaning of “Deposit” and shall be
applied to the Purchase Price at Closing. In addition, if Purchaser has so extended the Final Closing Date by exercise of the First Purchaser Extension, Purchaser may elect to further extend the Final Closing Date to a date not later than
December 24, 2010, upon delivering written notice to Sellers and Escrow Agent of such election by not later than December 15, 2010, and delivering to Escrow Agent on or before December 15, 2010, by bank wire of immediately available
funds the sum of Two Hundred Fifteen Thousand Dollars ($215,000.00) (the “Second Purchaser Extension Payment”), which Second Purchaser Extension Payment shall be included within the meaning of “Deposit” and shall be
applied to the Purchase Price at Closing. In the event of the extension of the Final Closing Date pursuant hereto, Purchaser shall designate the actual date of Closing in written notice to Sellers and Escrow Agent not less than two (2) business
days prior to such Closing date.” 

  
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 3. This Second Amendment may be executed in any number of counterparts, each of which shall
be deemed to be an original, but any number of which, taken together, shall be deemed to constitute one and the same instrument. 
 4. Except as specifically amended by this Second Amendment, the Agreement shall continue in full force and effect. In the event of any conflict between the provisions of the Agreement and the provisions
of this Second Amendment, the provisions of this Second Amendment shall prevail. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

  
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 IN WITNESS WHEREOF, Sellers and Purchaser have entered into this Second Amendment as of the
date first written above. 
  

					
	PURCHASER:
	
	 PACIFIC OFFICE PROPERTIES, L.P.,
 a Delaware limited partnership

		
	By:	 	PACIFIC OFFICE PROPERTIES TRUST, INC., a Maryland corporation,
		 	its General Partner
			
		 	By:	 	 /s/ Matthew J. Root

		 		 	 Chief Investment Officer

		 		 	(Print Name and Title)
	
	SELLERS:
	
	GRE CARLTON PLAZA LP, a Delaware limited partnership
		
	By:	 	GRE Carlton Plaza GP LLC,
		 	a Delaware limited liability company,
		 	Its General Partner
			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	TUSTIN-MICHELLE PARTNERS LLC, a Delaware limited partnership
		
	By:	 	Guggenheim Plus Leveraged LLC,
		 	a Delaware limited liability company,
		 	Its Managing Member
			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE WARNER DESOTO LLC, a Delaware limited liability company
		
	By:	 	Guggenheim Plus Leveraged LLC,
		 	a Delaware limited liability company,
		 	Its Managing Member
			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

[SIGNATURES CONTINUED ON FOLLOWING PAGE] 

  
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 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 

 

					
	GRE WARNER CALIFA LLC, a Delaware limited liability company
		
	By:	 	Guggenheim Plus Leveraged LLC,
		 	a Delaware limited liability company
		 	Its Managing Member
			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE WARNER CANOGA LLC, a Delaware limited liability company
		
	By:	 	Guggenheim Plus Leveraged LLC,
		 	a Delaware limited liability company,
		 	Its Managing Member
			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE EMPIRE TOWERS FOUR LLC, a Delaware limited liability company
		
	By:	 	Guggenheim Plus Leveraged LLC,
		 	a Delaware limited liability company,
		 	Its Managing Member
			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE FOOTHILL LLC, a Delaware limited liability company
		
	By:	 	Guggenheim Plus Leveraged LLC,
		 	a Delaware limited liability company,
		 	Its Managing Member
			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE MIRA MESA LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

  
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