Document:

Interest Contribution Agreement (Grand Galleria)

 Exhibit 10.19 
 INTEREST CONTRIBUTION AGREEMENT 
 by and among 

THE PERSONS AND ENTITIES IDENTIFIED ON SCHEDULE A HERETO, 

as the Contributors, 
 ELCO LANDMARK RESIDENTIAL MANAGEMENT, LLC, 
 as the Contributors’
Representative, 
 APARTMENT TRUST OF AMERICA HOLDINGS, L.P., 

as the Purchaser 
 and 
 APARTMENT TRUST OF AMERICA, INC., 

Relating to 
 Landmark Grand at Galleria, LLC, 
 the Contributed Entity 

August 3, 2012 

 TABLE OF CONTENTS 

 

							
	 Article I. Contribution and Sale
	  	 	2	  
	     1.1
	  	Contribution and Sale.	  	 	2	  
	     1.2
	  	Consideration.	  	 	2	  
	 Article II. Closing
	  	 	3	  
	     2.1
	  	Closing.	  	 	3	  
	     2.2
	  	Closing deliveries by each of the Contributors.	  	 	3	  
	     2.3
	  	Closing deliveries by the Contributors’ Representative.	  	 	4	  
	     2.4
	  	Closing deliveries by the Purchaser and ATA.	  	 	5	  
	 Article III. Representations and Warranties of the Contributors
	  	 	5	  
	     3.1
	  	Organization and Authorization.	  	 	5	  
	     3.2
	  	Title to Interests.	  	 	6	  
	     3.3
	  	Absence of Defaults and Conflicts.	  	 	6	  
	     3.4
	  	FIRPTA.	  	 	6	  
	     3.5
	  	OFAC.	  	 	6	  
	     3.6
	  	No Brokers.	  	 	7	  
	     3.7
	  	No Litigation.	  	 	7	  
	     3.8
	  	Investment Representations.	  	 	7	  
	     3.9
	  	Exculpation Among Contributors.	  	 	9	  
	     3.10
	  	NO TAX REPRESENTATIONS.	  	 	10	  
	 Article IV. Representations and Warranties of the Purchaser and ATA
	  	 	10	  
	     4.1
	  	Incorporation from Master Agreement.	  	 	10	  
	     4.2
	  	Valid Issuance of Securities.	  	 	11	  
	     4.3
	  	Integration.	  	 	11	  
	 Article V. Conditions Precedent
	  	 	11	  
	     5.1
	  	Conditions Precedent to the Obligations of Each Party.	  	 	11	  
	     5.2
	  	Conditions Precedent to the Obligations of the Contributors and the Contributors’ Representative.	  	 	12	  
	     5.3
	  	Conditions Precedent to the Obligations of ATA and ATA Holdings.	  	 	12	  
	 Article VI. Termination
	  	 	13	  
	     6.1
	  	Termination.	  	 	13	  
	     6.2
	  	Effect of Termination.	  	 	13	  
	 Article VII. Covenants and Other Agreements
	  	 	13	  
	     7.1
	  	Lock-Up.	  	 	13	  
	     7.2
	  	Exclusivity.	  	 	13	  
	     7.3
	  	Fulfillment of Conditions Precedent.	  	 	14	  
	     7.4
	  	Admission to Partnership.	  	 	14	  
	     7.5
	  	Further Assurances.	  	 	14	  
	     7.6
	  	Publicity; Disclosure.	  	 	14	  
	 Article VIII. General Provisions
	  	 	14	  
	     8.1
	  	Survival.	  	 	14	  
	     8.2
	  	Notices.	  	 	14	  
	     8.3
	  	Severability.	  	 	15	  
	     8.4
	  	Amendment.	  	 	16	  
	     8.5
	  	Parties in Interest.	  	 	16	  
	     8.6
	  	Governing Law; Jurisdiction and Venue.	  	 	16	  

  
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	     8.7
	  	Waiver of Jury Trial.	  	 	16	  
	     8.8
	  	Waiver.	  	 	16	  
	     8.9
	  	Mutual Drafting.	  	 	17	  
	     8.10
	  	Entire Agreement.	  	 	17	  
	     8.11
	  	Counterparts.	  	 	17	  
	     8.12
	  	Section Headings; Interpretation.	  	 	17	  
	     8.13
	  	Contributors’ Representative.	  	 	17	  
	     8.14
	  	Contribution to Certain Potential Liabilities Under Master Agreement.	  	 	19	  
	     8.15
	  	Attorneys’ Fees.	  	 	19	  

  

			
		
	 Index of Schedules
	  	
		
	 Schedule A:
	  	Contribution Schedule
		
	 Index of Exhibits
	  	
		
	 Exhibit A:
	  	Form of Instrument of Assignment
		
	 Exhibit B:
	  	Form of Joinder to OP Agreement
		
	 Exhibit C:
	  	Form of Release of Claims
		
	 Exhibit D:
	  	Form of Liability Contribution Agreement
		
	 Exhibit E:
	  	Form of Purchase Promissory Note

  
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 INTEREST CONTRIBUTION AGREEMENT 

This INTEREST CONTRIBUTION AGREEMENT (this “Agreement”), dated as of August 3, 2012, is made and entered into by
and among the persons and entities identified as the Contributors on Schedule A hereto (collectively, the “Contributors”), Elco Landmark Residential Management, LLC, a Delaware limited liability company
(“ELRM” or the “Contributors’ Representative”), Apartment Trust of America Holdings, L.P., a Virginia limited partnership (“ATA Holdings” or the “Purchaser”) and Apartment
Trust of America, Inc., a Maryland corporation (“ATA”). The Contributors, the Contributors’ Representative, the Purchaser and ATA are referred to herein collectively as the “Parties” and individually as a
“Party.” 
 RECITALS 
 A. This Agreement is entered into pursuant to the Master Contribution and Recapitalization Agreement (as amended and in effect from time to time, the “Master Agreement”), dated as of the
date hereof by and among ATA, ATA Holdings, Elco Landmark Residential Holdings, LLC, a Delaware limited liability company (“EL”) and ELRM. 
 B. ATA is engaged in the business of acquiring, holding and managing apartment communities and other real estate investments. ATA has been organized and operated to qualify as a real estate investment
trust (a “REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”). ATA holds all or substantially all of its properties through ATA Holdings, its operating partnership.

 C. The Contributors collectively are the direct owners of 100% of the limited partnership interests or limited liability
company interests, as the case may be (the “Interests”), in the Entity identified on Schedule A hereto as the Contributed Entity (the “Contributed Entity”). The Contributed Entity wholly owns, directly or
indirectly, the property (the “Property”), to be indirectly contributed to the Purchaser hereby pursuant to the contribution of the Interests, as identified on Schedule A hereto. 

D. The Parties desire to provide for the contribution of the Interests to the Purchaser, in exchange for consideration consisting of
either limited partnership interests in the Purchaser or common stock of ATA (or cash, in the case of any Contributor that does not qualify to receive securities), cash and/or a promissory note from Purchaser, as applicable, all upon the terms and
subject to the conditions set forth below, such contribution to occur as part of the Initial Closing or a Subsequent Closing under the Master Agreement, as the case may be. 
 E. Appendix 1 to this Agreement contains certain definitions and cross-references to terms defined in the body of the Agreement. Capitalized terms used and not defined herein shall have the
meanings ascribed to them in the Master Agreement. 
 NOW, THEREFORE, the Parties acknowledge the adequacy of the consideration
provided to each through their respective representations, warranties, conditions, rights and promises contained in this Agreement and, intending to be legally bound, agree as provided below. 

 ARTICLE I. 
 CONTRIBUTION AND SALE 
 1.1 Contribution and Sale. Upon the terms and
subject the conditions set forth in this Agreement, the Purchaser hereby agrees to acquire from each of the Contributors, and each such Contributor hereby agrees to contribute and sell to the Purchaser, all of such Contributor’s right, title
and interest in and to the Interests, free and clear of all Liens. The agreements set forth herein of each of the Contributors are several and not joint, except as otherwise expressly provided herein; provided, however, that the
transactions contemplated hereby shall not be consummated except in connection with the contribution and sale hereunder at the Closing of all, but not less than all, of the Interests. 

1.2 Consideration. 
 (a) Securities. The aggregate purchase price for the Interests shall be the amount of the Agreed Equity Value set forth on Schedule A hereto, as the same may be adjusted pursuant to the
provisions of the Master Agreement (such adjusted amount, the “Purchase Price”). At and subject to the Closing, to each Contributor, (i) the Purchaser shall issue and sell limited partnership interest units in the Purchaser
(“OP Units”) in number equal to the quotient of (1) such Contributor’s Allocable Portion of the Purchase Price divided by (2) $8.15, rounded up to the nearest whole number of OP Units (ii) the Purchaser shall
deliver cash and/or (iii) the Purchaser shall deliver a promissory note in the form attached hereto as Exhibit E (the “Purchaser Promissory Note”), all as indicated with respect to such Contributor on Schedule A
hereto. Each Contributor’s “Allocable Portion” of the Purchase Price shall be determined by the Contributors’ Representative in accordance with the allocation methodology set forth in Schedule A hereto. This
Agreement refers to the OP Units to be issued hereunder as the “Securities.” 
 (b) Cash for Non-Qualified
Contributors. Notwithstanding the provisions of Section 1.2(a), in the event that the Purchaser reasonably determines, with the written consent of the Contributors’ Representative (such consent not to be unreasonably withheld,
conditioned or delayed), that any Contributor is not, or will not be as of the Closing, capable of making the representations and warranties set forth in Section 3.8 (including, without limitation, the representation and warranty that such
Contributor is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”)) (each such Contributor, if any, a “Non-Qualified
Contributor”), then, in lieu of the issuance and sale of Securities to such Non-Qualified Contributor by the Purchaser or ATA, the Purchaser shall pay to such Non-Qualified Contributor its Allocable Portion of the Purchase Price in cash, by
wire transfer of immediately available funds to the account designated by the Contributors’ Representative on behalf of such Non-Qualified Contributor. 
 (c) Closing Adjustments. To the extent that any prorations, adjustments or other amounts with respect to the Contributed Entity or the Property shall be payable by or to the Contributors at or
following each Closing in accordance with the provisions of the Master Agreement, the amount of the purchase consideration determined pursuant to Section 1.2(a) shall be adjusted accordingly, it being acknowledged and agreed by each
Contributor that from and after the date hereof, (i) the Contributed Entity shall not declare, pay or otherwise make provision for any dividends or distributions and (ii) immediately prior to the Closing, in addition

  
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to any prorations, adjustments or other amounts payable by or to the Contributors with respect to the Contributed Entity or the Property, the Contributed Entity shall distribute to each
Contributor receiving Securities an amount equal to the amount such Contributor would have been paid as a distribution on account of the Securities it will receive at Closing had such Securities been issued and sold to such Contributor at the
Initial Closing. 
 ARTICLE II. 
 CLOSING 
 2.1 Closing. The closing of the transactions contemplated by this
Agreement (the “Closing”) shall take place at the offices of Hunton & Williams LLP, 200 Park Avenue, New York, New York 10166, or such other location as the Purchaser and the Contributors’ Representative may mutually
agree, only as a part of, and simultaneously with, the first to occur after the satisfaction (or waiver if permitted) of the conditions set forth in Article V of this Agreement of the Initial Closing or a Subsequent Closing under the Master
Agreement. The date of the Closing is referred to herein as the “Closing Date.” 
 2.2 Closing deliveries by
each of the Contributors. At the Closing, each Contributor (except as otherwise provided below) will deliver or cause the Escrow Agent to deliver to Purchaser each of the following agreements, instruments and other documents, all of which are
being duly executed and delivered to the Escrow Agent on the date hereof to be held in escrow pending the Closing pursuant to the terms of the Escrow Agreement: 
 (a) a duly executed instrument of assignment substantially in the form attached hereto as Exhibit A; 
 (b) in the case of any Contributor to receive OP Units hereunder, a duly executed joinder to the OP Agreement substantially in the form attached hereto as Exhibit B (each a
“Joinder”); 
 (c) a duly executed release of claims with respect to the Contributed Entity substantially in
the form attached hereto as Exhibit C; 
 (d) a duly completed and executed certificate pursuant to Treasury Regulation
section 1.1445-2(b)(2) certifying that such Contributor is not a “foreign person” within the meaning of Code section 1445 (each a “FIRPTA Affidavit”); 

(e) in the case of any Contributor to receive Securities hereunder, the Registration Rights Agreement substantially in the form attached
as an exhibit to the Master Agreement (the “Registration Rights Agreement”), duly executed by such Contributor; 
 (f) in the case of any Contributor to receive OP Units hereunder, to the extent, if any, required by the Master Agreement, a Tax Protection Agreement with respect to the Contributed Entity and the
Property substantially in the form attached as an exhibit to the Master Agreement (each a “Tax Protection Agreement”), duly executed by such Contributor; 
 (g) resignations of all directors, managers and officers of the Contributed Entity and each of its Subsidiaries, if any, effective as of the Closing, to the extent such positions are held by such
Contributor or its Affiliates or any of their respective directors, managers and officers; 

  
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 (h) any and all other instruments and documents required to be delivered by such Contributor
at or prior to the Closing pursuant to and in accordance with any of the other provisions of this Agreement, and such other documents or instruments as the Purchaser or ATA may reasonably request to effect the transactions contemplated hereby.

 2.3 Closing deliveries by the Contributors’ Representative. At the Closing, the Contributors’ Representative
will deliver, or cause Escrow Agent to deliver, to Purchaser each of the following agreements, instruments and other documents (in addition to those to be delivered pursuant to the Master Agreement or any of the other Transaction Agreements), all of
which (except the updated “Rent Roll” described in paragraph (a) below and the Settlement Statement described in paragraph (h) below) are being duly executed, as applicable, and delivered to the Escrow Agent on the date hereof to
be held in escrow pending the Closing pursuant to the terms of the Escrow Agreement: 
 (a) an updated Rent Roll dated within
one (1) Business Day of the Closing Date; 
 (b) copies of all Permits, As-Built Drawings and final certificates of
occupancy (if available and in the Contributors’ Representative’s control as of the Closing Date) for the Property; 

(c) the original (or if not available, legible copies) of any and all Leases, Contracts, warranties and guarantees pertaining to the
Improvements that are in the Contributors’ Representative’s control as of the Closing Date; 
 (d) any necessary UCC
termination statements or other releases as may be required to evidence the satisfaction of any Liens on any of the Property that are required by the terms of this Agreement or the Master Agreement to be terminated or released prior to Closing;

 (e) certified copies of all Organizational Documents, applicable resolutions, if any, certificates of incumbency, and good
standing certificates with respect to the Contributed Entity and each of its Subsidiaries, if any; 
 (f) corporate seals, books
and records, ownership ledgers and other similar records pertaining to the Contributed Entity, any of its Subsidiaries and/or the Property that are in the Contributors’ Representative’s control as of the Closing Date; 

(g) resignations of all directors, managers and officers of the Contributed Entity and each of its Subsidiaries, if any, effective as of
the Closing, to the extent such positions are held by the Contributors’ Representative or its Affiliates or any of their respective directors, managers and officers; 
 (h) a duly executed counterpart of the Settlement Statement; and 

  
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 (i) any and all other instruments and documents required to be delivered by the
Contributors’ Representative at or prior to the Closing pursuant to and in accordance with any of the other provisions of this Agreement, and such other documents or instruments as the Purchaser or ATA may reasonably request to effect the
transactions contemplated hereby. 
 2.4 Closing deliveries by the Purchaser and ATA. At the Closing, the Purchaser and
ATA will deliver, or cause Escrow Agent to deliver, to Contributor each of the following agreements, instruments and other documents (in addition to those to be delivered pursuant to the Master Agreement or any of the other Transaction Agreements)
all of which (except the Settlement Statement described in paragraph (c) below)) are being duly executed, as applicable, and delivered to the Escrow Agent on the date hereof to be held in escrow pending the Closing pursuant to the terms of the
Escrow Agreement: 
 (a) certificates evidencing the approval of the issuance of the OP Units to be issued by the Purchaser to
the Contributors to receive Securities hereunder registered in the name of each such Contributor; 
 (b) a duly executed
counterpart of each Joinder, if any; 
 (c) a duly executed counterpart of the Settlement Statement; 

(d) a duly executed counterpart of the Registration Rights Agreement; 

(e) a duly executed counterpart of each Tax Protection Agreement, if any; 

(f) a duly executed counterpart of the Purchaser Promissory Note; 

(g) cash consideration, if any; and 
 (h) any and all other instruments and documents required to be delivered by the Purchaser or ATA at or prior to the Closing pursuant to and in accordance with any of the other provisions of this
Agreement, and such other documents or instruments as the Contributors’ Representative may reasonably request to effect the transactions contemplated hereby. 
 ARTICLE III. 
 REPRESENTATIONS AND WARRANTIES OF THE CONTRIBUTORS 

Each of the Contributors, severally and not jointly, solely as to itself and not as to any other Contributor, hereby represents and
warrants to the Purchaser and ATA as follows: 
 3.1 Organization and Authorization. Each Contributor (other than the
Contributors that are natural persons) is an entity duly organized, validly existing and in good standing in the state of its organization. Each Contributor (other than the Contributors that are natural persons) has all requisite entity power and
authority to execute, deliver and perform its obligations under this Agreement and any other agreement, certificate, instrument or writing delivered by such Contributor in connection with this Agreement or the transactions contemplated hereby
(collectively, including this Agreement, the “Contribution Documents”). Each Contributor (other than the Contributors that are natural persons) has taken all necessary action to authorize 

  
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the execution, delivery and performance of this Agreement and any other Contribution Documents. Each Contributor that is a natural person has legal competence and capacity to execute this
Agreement and any other Contribution Documents. Upon the execution and delivery of any Contribution Document to be executed and delivered by any Contributor, such Transaction Document shall constitute the valid and binding obligation of such
Contributor, enforceable against such Contributor in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general application affecting the rights and remedies of
creditors and general principles of equity. The person or persons executing and delivering this Agreement or any other Contribution Document on behalf of any Contributor is and shall have been prior to the Closing Date, duly authorized to execute
and deliver such documents on behalf of such Contributor. Each Contributor (other than the Contributors that are natural persons) has made available to the Purchaser true and complete copies of the Organizational Documents of such Contributor, as
amended and as in effect on the date of this Agreement. No Contributor that is an entity is in default under or in violation of any provision of its Organizational Documents. 
 3.2 Title to Interests. Each Contributor owns its respective Interests free from all Liens. Except for this Agreement and the other Contribution Documents and the transactions contemplated hereby
and thereby, there are no agreements, arrangements, options, warrants, calls, rights (including preemptive rights) or commitments of any character to which any Contributor is a party relating to the sale, purchase or redemption of any of such
Contributor’s respective Interests. Upon delivery to the Purchaser on the Closing Date of each Contributor’s respective Interests as contemplated by this Agreement, such Contributor will thereby transfer to the Purchaser good and
marketable title to such Interests, free and clear of all Liens. 
 3.3 Absence of Defaults and Conflicts. With respect
to each Contributor, neither the execution and delivery of this Agreement or any other Contribution Document by such Contributor, nor the consummation of any of the transactions contemplated hereby or thereby, nor compliance with or fulfillment of
the terms, conditions and provisions hereof or thereof will (i) conflict with, result in a breach of the terms, conditions or provisions of, or constitute a default, an event of default or an event creating rights of acceleration, termination
or cancellation or a loss of rights under, or result in the creation or imposition of any Lien upon such Contributor’s Interests, under (A) any Organizational Documents of such Contributor if such Contributor is an entity, (B) any
contract to which such Contributor is a party, or (C) any Laws applicable to such Contributor; or (ii) require the approval, consent, authorization or act of, or the making by such Contributor of any declaration, filing or registration
with, any Person. 
 3.4 FIRPTA. No Contributor is a “foreign person” within the meaning of Code
Section 1445(f)(3), and each Contributor shall certify to that effect and certify its taxpayer identification number at Closing pursuant to Code Section 1445(b)(2). 
 3.5 OFAC. No Contributor or, to the knowledge of such Contributor, any trustee, officer, agent, employee, Affiliate or person acting on behalf of such Contributor or any of its Affiliates is
currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department. 

  
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 3.6 No Brokers. Except as contemplated by the Master Agreement with respect to EL and
its Affiliates, no Contributor or any of its Affiliates has or will have any obligation to pay any brokerage fees or commissions, finder’s fee, advisory fees or other similar fees related to the execution of this Agreement, any of the other
Contribution Documents or the consummation of any of the transactions contemplated hereby or thereby. 
 3.7 No
Litigation. No Proceeding or Order is pending against or affecting any Contributor or any of its Affiliates (and, to the knowledge of such Contributor, no such Proceeding or Order has been threatened in writing) (a) under any bankruptcy or
insolvency Law, (b) that seeks or could be reasonably likely to seek injunctive or other relief in connection with this Agreement, any of the other Contribution Documents or the transactions contemplated hereby or thereby or (c) that
reasonably could be expected to adversely affect (i) the performance by such Contributor under this Agreement or any other Contribution Document or (ii) the consummation of any of the transactions contemplated hereby or thereby.

 3.8 Investment Representations. 
 (a) Each Contributor is a sophisticated investor with such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment in the
Securities. Each Contributor has the financial wherewithal to bear, and is willing to accept, the economic risk of losing its entire investment in the Securities. 
 (b) Each Contributor acknowledges that it has (i) received, read, and fully understands the Investor Package, (ii) been provided with a reasonable opportunity to ask questions of, and receive
answers and other responsive information from, knowledgeable representatives of the Purchaser, ATA, Elco Landmark Residential Holdings LLC and the Contributors’ Representative concerning the terms and conditions of the Securities being offered
and sold pursuant to this Agreement and the Investor Package, the terms and conditions of the transactions contemplated by the Master Agreement and each of the other agreements included in the Investor Package, and the business, affairs, strategy,
financial condition and properties of ATA and the Purchaser, both historically and after giving effect to the transactions contemplated by this Agreement and the Master Agreement and each of the other agreements included in the Investor Package, and
(iv) obtained such additional materials and information requested by either such Contributor or its own representatives, including its own professional financial, legal and tax advisers, as it and its advisers have deemed necessary or advisable
in order to verify the accuracy of the information contained in the Investor Package and the other information and materials provided to it by representatives of the Purchaser, ATA, Elco Landmark Residential Holdings LLC and the Contributors’
Representative. 
 (c) Each Contributor acknowledges that it is basing its decision to invest in the Securities on the Investor
Package and its own investigation of the information contained therein or otherwise obtained by the Contributor, and that it has not relied upon any representations made by any other Person. Each Contributor recognizes that an investment in the
Securities involves substantial risk and such Contributor is fully cognizant of and understands all of the risk factors related to such Securities. 

  
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 (d) Each Contributor acknowledges that the offer and sale of the Securities has not been
accompanied by the publication of any public advertisement or by any form of general solicitation or general advertising (as those terms are used in Rule 502(c) under the Securities Act). 

(e) Each Contributor is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act. 
 (f) Each Contributor is receiving the Securities for such Contributor’s own account and for investment purposes
only and has no present intention, agreement, or arrangement for the distribution, transfer, assignment, resale, or subdivision of such Securities in violation of applicable securities laws. Each of the Contributors agrees that it will not
distribute, sell, transfer or enter into any contract to distribute, sell or transfer any of the Securities for a period of at least six (6) months after the date on which it receives the Securities. Each of the Contributors understands that
(i) the ATA Organizational Documents, the OP Agreement, and the Registration Rights Agreement contain additional restrictions as to the transferability of the Securities, (ii) that no active trading market exists for the Securities (or the
shares of ATA Common Stock issuable upon conversion of the OP Units) and (iii) the Contributors’ investment in the Securities (and the shares of ATA Common Stock issuable upon conversion of the OP Units) will be highly illiquid and may
have to be held indefinitely. 
 (g) Each Contributor is fully aware that the Securities have not been registered with the SEC
in reliance on the exemptions specified in Regulation D under the Securities Act, which reliance is based in part upon the Contributors’ representations set forth herein. Each Contributor understands that the Securities have not been registered
under applicable state securities laws and are being offered and sold pursuant to the exemptions specified in said laws, and unless they are registered, they may not be re-offered for sale or resold except in a transaction or as a security exempt
under those laws. 
 (h) Each Contributor understands that none of the Purchaser, ATA or their owners, officers, employees,
directors, general partners, Affiliates or advisors represent such Contributor in any way in connection with the purchase of the Securities. Each Contributor also understands that legal counsel to the Purchaser, ATA and their Affiliates does not
represent, and shall not be deemed under the applicable codes of professional responsibility to have represented or to be representing, any Contributor. 
 (i) EACH CONTRIBUTOR UNDERSTANDS THAT THE SECURITIES ISSUABLE TO THE CONTRIBUTORS PURSUANT TO THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
OF ANY STATES AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT
AS PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION, OR OTHER REGULATORY

  
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AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF AN INVESTMENT IN THE SECURITIES OR THE ACCURACY OR ADEQUACY OF THE INVESTOR PACKAGE. EACH CONTRIBUTOR
UNDERSTANDS THAT ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL. 
 (j) Each Contributor further represents and warrants to ATA
and Purchaser that such Contributor (or, in the case such Contributor is a fiduciary, that the beneficiary, fiduciary account, grantor or donor on whose behalf such fiduciary is acquiring the securities hereunder) (i) has a minimum annual gross
income of $70,000 and a net worth (excluding home, furnishings and automobiles) of not less than $70,000, or (ii) has a net worth (excluding home, furnishings and automobiles) of not less than $250,000, or (iii) satisfies such other
standards as may be established by any applicable state. 
 (k) Legends. Each Contributor understands that any
certificates evidencing the Securities and any securities issued in respect of or exchange for the Securities may bear one or all of the following legends: 
  

	 	(i)	“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND
NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN EXEMPTION THEREFROM.” 

 

	 	(ii)	Any legend set forth in, or required by, the other Transaction Agreements. 

 

	 	(iii)	Any legend set forth in, or required by, the OP Agreement or the ATA Organizational Documents. 

 

	 	(iv)	Any legend required by the securities laws of any state to the extent such laws are applicable to the securities represented by the certificate so legended.

 3.9 Exculpation and Waiver of Claims. 

(a) Notwithstanding the information contained in the Investor Package and the other information and materials provided to or otherwise
obtained by the Contributors as described in Section 3.8, each Contributor understands and acknowledges that ATA, the Purchaser, the Contributors’ Representative and their respective affiliates, officers, directors, partners, members,
employees and agents may be in possession of additional material non-public information about ATA’s and the Purchaser’s operations, prospects and strategic plans that has not been disclosed to the Contributors or to their representatives.
Therefore, each Contributor understands that (a) any information in its possession regarding ATA and the Purchaser: (i) may be incomplete in whole or in part, (ii) has been provided to it by ATA and the Purchaser without any
representation or warranty by them (other than as expressly set forth in this Agreement), 

  
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including without limitation, any representation or warranty that such information (A) is true, correct, accurate or complete, or (B) does not omit any fact necessary to make any such
information not misleading and (iii) does not contain any omissions or misstatements that an investor would consider material in making a decision as to whether to invest in the Securities or enter in this Agreement and (b) as a result of
the foregoing, it may not have adequate information concerning the business and financial condition of ATA and the Purchaser to make an informed decision regarding an investment in the Securities 

(b) Each Contributor hereby irrevocably agrees that it will not directly or indirectly institute, join any person in instituting or take
any action to directly or indirectly institute, any legal or other proceeding against ATA, the Purchaser or any of their affiliates, officers, directors, partners, members, employees or agents for any reason relating to, or seeking damages or
remedies (whether legal or equitable) with respect to this Agreement, an investment in the Securities or any of the information that ATA, the Purchaser or any of their affiliates, officers, directors, partners, members, employees, agents or
representatives has provided or omitted to provide to the Contributors in connection with the this Agreement or otherwise, other than in the case of any representation or warranty by ATA or the Purchaser expressly set forth in this Agreement.

 (c) Each Contributor acknowledges that it is not relying upon representations and warranties of any Person, other than
representations and warranties of the Purchaser and ATA contained herein and in the other Transaction Documents, in making its investment or decision to invest in the Securities. Each Contributor agrees that none of the Contributors, the
Contributors’Representative and their respective controlling Persons, officers, directors, partners, agents, or employees shall be liable to any Contributor for any action heretofore taken or omitted to be taken by any of them in connection
with the transactions contemplated hereby. 
 3.10 NO TAX REPRESENTATIONS. EXCEPT FOR THE EXPRESS RERPESENTATIONS AND
WARRANTIES OF THE PURCHASER AND ATA SET FORTH IN ARTICLE IV, EACH CONTRIBUTOR REPRESENTS AND WARRANTS THAT IT IS NOT RELYING UPON ANY ADVICE OR ANY INFORMATION OR MATERIAL FURNISHED BY THE PURCHASER OR ITS REPRESENTATIVES, WHETHER ORAL OR WRITTEN,
EXPRESSED OR IMPLIED, OF ANY NATURE WHATSOEVER, REGARDING ANY TAX MATTERS, INCLUDING, WITHOUT LIMITATION, TAX CONCEQUENCES TO CONTRIBUTOR FROM THE TRANSACTION CONTEMPLATED HEREIN OR ANY TRANSACTION GOVERNED BY THE TRANSACTION DOCUMENTS. 

ARTICLE IV. 

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER AND ATA 
 The Purchaser and ATA, jointly and severally, hereby represent and warrant to the Contributors as follows: 
 4.1 Incorporation from Master Agreement. The representations and warranties of the Purchaser and ATA set forth in Article VI of the Master Agreement are hereby incorporated herein by reference.

  
 10 

 4.2 Valid Issuance of Securities. The Securities, when issued, sold and delivered in
accordance with the terms and for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of all Liens and restrictions on transfer other than restrictions on transfer under the ATA Organizational
Documents, the OP Agreement and the Registration Rights Agreement, applicable state and federal securities laws and Liens created by or imposed by a Contributor. Assuming the accuracy of the representations of the Contributors in Article III
of this Agreement, the Securities will be issued in compliance with all applicable federal and state securities laws. The shares of ATA Common Stock issuable upon conversion of the OP Units pursuant to the OP Agreement have been duly reserved for
issuance, and upon issuance in accordance with the terms of the OP Agreement, will be validly issued, fully paid and nonassessable and free of Liens and restrictions on transfer other than restrictions on transfer under the ATA Organizational
Documents, and the Registration Rights Agreement, applicable federal and state securities laws and Liens created by or imposed by a Contributor. Assuming the accuracy of the representations of the Contributors in Article III of this
Agreement, the shares of ATA Common Stock issuable upon conversion of the OP Units will be issued in compliance with all applicable federal and state securities laws. The Securities do, and the shares of ATA Common Stock issuable upon conversion of
the OP Units will upon issuance thereof, conform in all material respects to all statements relating thereto contained in the SEC Reports and such description does and will conform in all material respects to the rights set forth in the instruments
defining the same. Any certificates representing the OP Units or the shares of ATA Common Stock are, or will be upon issuance thereof, in due and proper form. No holder of OP Units (except to the extent set forth in Section 50-73-24 of the
Virginia Uniform Limited Partnership Act) or of shares of ATA Common Stock will be subject to personal liability by reason of being such a holder. The issuance of the OP Units and the shares of ATA Common Stock is not subject to any statutory or
contractual preemptive rights, resale rights, rights of first refusal or other similar rights of any security holder of ATA or the Purchaser. 
 4.3 Integration. None of ATA, the Purchaser or any of their Affiliates has, directly or indirectly, (a) sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of,
any security (as defined in the Securities Act) which is or will be integrated with the sale of the OP Units (or shares of ATA Common Stock issuable upon conversion thereof) in a manner that would require the registration of such securities under
the Securities Act or (b) offered, solicited offers to buy or sold the OP Units (or shares of ATA Common Stock issuable upon conversion thereof) by any form of general solicitation or general advertising (as those terms are used in Rule 502(c)
under the Securities Act) or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act. 
 ARTICLE V. 
 CONDITIONS PRECEDENT 

5.1 Conditions Precedent to the Obligations of Each Party. The obligations of each Party to consummate the transactions
contemplated hereby at the Closing shall be subject to the satisfaction or waiver (where permissible), at or prior to the Closing, of the following conditions: 
 (a) No Order. No Governmental Authority with jurisdiction over such matters shall have enacted, issued, promulgated, enforced or entered any Law (whether temporary, preliminary or permanent) which
is then in effect and has the effect of making the transactions contemplated hereby at the Closing illegal or otherwise restricting, preventing or prohibiting consummation of such transactions. 

  
 11 

 (b) Simultaneous Closing under Master Agreement. The Master Agreement shall be in
full force and effect and shall not have been terminated for any reason. The consummation of the transactions contemplated by the Master Agreement to be consummated at the applicable closing thereunder with respect to the Contributed Entity shall
have occurred simultaneously with the Closing hereunder. 
 5.2 Conditions Precedent to the Obligations of the Contributors
and the Contributors’ Representative. The obligations of each Contributor and the Contributors’ Representative to consummate the transactions contemplated hereby at the Closing shall be subject to the satisfaction or waiver (where
permissible), at or prior to the Closing, of the following additional conditions: 
 (a) Representations and Warranties.
The representations and warranties of the Purchaser and ATA in this Agreement that (i) are not made as of a specific date shall be true and correct as of the date hereof and as of the Closing, as though made on and as of the Closing, and
(ii) are made as of a specific date shall be true and correct as of such date, in each case except where the failure of such representations or warranties to be true and correct (without giving effect to any limitation as to
“materiality” or “Material Adverse Effect” set forth in such representations and warranties) does not or would not have or would not be reasonably likely to have, individually or in the aggregate, a Material Adverse Effect.

 (b) Agreements and Covenants. The Purchaser and ATA shall have performed, in all material respects, all obligations to
be performed by them, and complied with, in all material respects, their agreements and covenants to be performed or complied with by them under this Agreement on or prior to the Closing. 

(c) Officer Certificate. ATA shall have delivered to the Contributors’ Representative for the benefit of the Contributors a
certificate, dated the Closing Date, signed by the Chief Executive Officer of ATA, for itself and as general partner of ATA Holdings, certifying as to the satisfaction of the conditions specified in Sections 5.2(a) and 5.2(b).

 (d) Closing Deliveries. The Purchaser and ATA shall have delivered, or caused to be delivered, each of the items set
forth in Section 2.4. 
 5.3 Conditions Precedent to the Obligations of ATA and ATA Holdings. The obligations
of ATA and ATA Holdings to consummate the transactions contemplated hereby at the Closing shall be subject to the satisfaction or waiver (where permissible), at or prior to the Closing, of the following additional conditions: 

(a) Representations and Warranties. The representations and warranties of the Contributors in this Agreement that (i) are not
made as of a specific date shall be true and correct in all material respects as of the date hereof and as of the Closing, as though made on and as of the Closing, and (ii) are made as of a specific date shall be true and correct in all
material respects as of such date. 

  
 12 

 (b) Agreements and Covenants. The Contributors shall have performed, in all material
respects, all obligations to be performed by them, and complied with, in all material respects, their agreements and covenants to be performed or complied with by them under this Agreement on or prior to the Closing. 

(c) Officer Certificate. Each of the Contributors shall have delivered to the Purchaser a certificate, dated the Closing Date,
signed by a duly authorized officer of such Contributor (or, in the case of a Contributor that is a natural person, by such Contributor), certifying as to the satisfaction of the conditions specified in Sections 5.3(a) and 5.3(b)
solely as to such Contributor. 
 (d) Closing Deliveries. The Contributors and the Contributors’ Representative
shall have delivered, or caused to be delivered, each of the respective items set forth in Section 2.2 and 2.3. 
 ARTICLE VI. 
 TERMINATION 

6.1 Termination. Notwithstanding anything herein to the contrary, this Agreement shall terminate prior to the Closing: 

(a) automatically, without the need for further action by any Party, upon the termination of the Master Agreement; or 

(b) automatically, without the need for further action by any Party, as expressly provided in the Master Agreement upon the occurrence of
certain events specified therein. 
 6.2 Effect of Termination. If this Agreement is terminated pursuant to
Section 6.1, no Party shall have any further obligations or liabilities hereunder, except for those obligations or liabilities which expressly survive the termination of this Agreement. For avoidance of doubt, the provisions of this
Section 6.2 shall have no effect on the rights and obligations of the parties to the Master Agreement or any of the other Transaction Agreements. 
 ARTICLE VII. 
 COVENANTS AND OTHER AGREEMENTS 

7.1 Lock-Up. From and after the date hereof until the Closing or the earlier termination of this Agreement, each Contributor
hereby agrees that it will not sell, transfer, pledge, dispose of, encumber or permit any Lien on, or issue or make any option, warrant, call or right of any kind to acquire, any of its respective Interests, or agree or commit to any of the
foregoing, in each case, except for the contribution and sale to the Purchaser at the Closing as contemplated hereby. 
 7.2
Exclusivity. From and after the date hereof until the Closing or the earlier termination of this Agreement, each Contributor hereby agrees that neither it nor anyone acting at its direction will make any offers to, commence or continue any
negotiations with, or enter into any written agreement with any other Person relating to the sale of the Property or the Interests (other than the Purchaser and its representatives). 

  
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 7.3 Fulfillment of Conditions Precedent. The Parties shall use their commercially
reasonable efforts to satisfy, or to ensure the satisfaction of, each of the conditions precedent to their obligations set forth in Article V hereof. 
 7.4 Admission to Partnership. ATA, as general partner of the Purchaser, shall take all actions necessary in order to cause the Contributors receiving OP Units to be admitted as limited partners of
the Purchaser as of the Closing Date. 
 7.5 Further Assurances. Following the Closing, the Parties shall, from time to
time, at the request of the Purchaser or the Contributors’ Representative and without further cost or expense to the requesting Party, do and perform, or cause to be done and performed, all further acts and things and shall execute and deliver
all further agreements, certificates, instruments and documents as the requesting Party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement or any of the other Contribution Documents and the
consummation of the transactions contemplated hereby and thereby. 
 7.6 Publicity; Disclosure. None of ATA or its
Affiliates, on the one hand, or the Contributors, the Contributors’ Representative or their respective Affiliates, on the other hand, may issue any press release, make any filing with any Governmental Authority or make any other public
announcement relating to this Agreement, any of the other Transaction Agreements or any of the transactions contemplated hereby or thereby without the prior written approval of the Contributors’ Representative or ATA, respectively. The
foregoing shall not apply to the extent necessary or advisable in order to satisfy a Party’s or its Affiliate’s disclosure obligations or other obligations under applicable Law, as determined by ATA or by the Contributors’
Representative, in which event ATA or the Contributors’ Representative, as the case may be, shall first consult with and reasonably consider any comments or suggestions of the other with respect thereto. 

ARTICLE VIII. 

GENERAL PROVISIONS 
 8.1 Survival. Unless otherwise set forth in this Agreement, the representations and warranties of the Parties contained in or made pursuant to this Agreement shall survive the execution and
delivery of this Agreement and the Closing and shall in no way be affected by any investigation or knowledge of the subject matter thereof made by or on behalf of any of the Parties. 

8.2 Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed
to have been duly given (a) when received if delivered personally, (b) when sent by electronic mail or facsimile (which is confirmed by the intended recipient) and (c) when sent by overnight courier service or when mailed by certified
or registered mail, return receipt requested, with postage prepaid to the parties at the following addresses (or at such other address for a party as shall be specified by like notice): 

  
 14 

 If to ELRM, to: 
 Elco Landmark Residential Management, LLC 
 825 Parkway Street 

Jupiter, Florida 33477 
 Attention: Joseph Lubeck, Chief Executive Officer 
 Fax: (561) 745-8745

 Email: jlubeck@landmarkresidential.com 
 with a copy to: 
 Goulston & Storrs P.C. 

750 Third Avenue 
 New York, New York 10017 
 Attention: Yaacov M. Gross, Esq. 

Fax: (212) 878-5527 
 Email: ygross@goulstonstorrs.com 
 If to ATA or ATA Holdings, to: 

Apartment Trust of America, Inc. 
 4901 Dickens Road, Suite 101 
 Richmond, Virginia 23230 

Attention: Stanley J. Olander, Jr. 
 Fax: (804) 237-1345 
 Email: jolander@atareit.com 

with a copy to: 
 Hunton & Williams LLP 
 Riverfront Plaza, East Tower 

951 East Byrd Street 
 Richmond, Virginia 23219 
 Attention: Daniel M. LeBey, Esq. 

Fax: (804) 788-8218 
 Email: dlebey@hunton.com 
 If to any Contributor, to such Contributor at its
address set forth on Schedule A hereto. 
 8.3 Severability. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of law or public policy or the application of this Agreement to any Person or circumstance is invalid or incapable of being enforced by any rule of law or public policy, all other
conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. To such
end, the provisions of this Agreement are agreed to be severable. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall 

  
 15 

 
negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the fullest extent possible. 
 8.4 Amendment. This
Agreement may not be amended or modified in any respect other than by the written agreement of all of the Parties (which may include the Contributors’ Representative signing as attorney-in-fact on behalf of some or all of the Contributors).

 8.5 Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of each Party hereto,
and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

8.6 Governing Law; Jurisdiction and Venue. 
 (a) This Agreement shall be governed by and construed in accordance with, the laws of the State of New York without regard, to the fullest extent permitted by law, to the conflicts of laws provisions
thereof which might result in the application of the laws of any other jurisdiction. 
 (b) Each Party agrees that any
Proceeding for any claim arising out of or related to this Agreement or the transactions contemplated hereby, whether in tort or contract or at law or in equity, shall be brought only in either the United States District Court for the Eastern
District of New York or in a New York state court sitting in New York, New York (each, a “Chosen Court”), and each Party irrevocably (a) submits to the jurisdiction of the Chosen Courts (and of their appropriate appellate
courts), (b) waives any objection to laying venue in any such Proceeding in either Chosen Court, (c) waives any objection that such Chosen Court is an inconvenient forum for the Proceeding, and (d) agrees that, in addition to other
methods of service provided by law, service of process in any such Proceeding shall be effective if provided in accordance with Section 8.2, and the effective date of such service of process shall be as set forth in
Section 8.2. 
 8.7 Waiver of Jury Trial. Each of the Parties hereto hereby waives to the fullest extent
permitted by applicable Law any right it may have to a trial by jury with respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement or the transactions contemplated hereby. Each of the Parties hereto
(a) certifies that no representative, agent or attorney of any other Party has represented, expressly or otherwise, that such other Party would not, in the event of litigation, seek to enforce that foregoing waiver and (b) acknowledges
that it and the other Parties hereto have been induced to enter into this Agreement and the transactions contemplated hereby, as applicable, by, among other things, the mutual waivers and certifications in this Section 8.7. 

8.8 Waiver. Except as provided in this Agreement, no action taken pursuant to this Agreement, including, without limitation, any
investigation by or on behalf of any Party, shall be deemed to constitute a waiver by the Party taking such action of compliance with any representations, warranties, covenants or agreements contained in this Agreement. The waiver by any Party
hereto of a breach of any provision hereunder shall not operate or be construed as a waiver of any prior or subsequent breach of the same or any other provision hereunder. 

  
 16 

 8.9 Mutual Drafting; Consultation with Advisors. Each Party hereto has participated
in the drafting of this Agreement, which each Party acknowledges is the result of extensive negotiations between the Parties. Without limiting the foregoing, each Party has consulted to the extent deemed appropriate by such Party with its own
advisers as to the financial, tax, legal, accounting, regulatory and related matters concerning the transactions contemplated by this Agreement and the MCA and on that basis understands the financial, tax, legal, accounting, regulatory and related
consequences of the transactions, and believes that entering into this Agreement is suitable and appropriate for such Party. 

8.10 Entire Agreement. This Agreement (including its exhibits, appendices and schedules), the Master Agreement and the other
documents delivered pursuant hereto and thereto constitute a complete and exclusive statement of the agreement between the Parties with respect to the subject matter hereof and thereof, and supersede all other prior agreements, arrangements or
understandings by or between the Parties, written or oral, express or implied, with respect to the subject matter hereof or thereof. 
 8.11 Counterparts. This Agreement or any amendment hereto may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one
and the same instrument. 
 8.12 Section Headings; Interpretation. 

(a) The descriptive headings of sections and paragraphs of this Agreement are inserted for convenience only, and do not constitute a part
of this Agreement and shall not affect in any way the meaning or interpretation of this Agreement, 
 (b) When a reference is
made in this Agreement to an Article, Section, Annex or Exhibit, such reference shall be to an Article, Section, Annex or Exhibit of or to this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation” unless the context otherwise requires or unless otherwise specified. Unless the context requires otherwise, the terms
“hereof,” “herein,” “hereby,” “hereto” and derivative or similar words in this Agreement refer to this entire Agreement. Unless the context requires otherwise, words in this Agreement using the singular or
plural number also include the plural or singular number, respectively, and the use of any gender herein shall be deemed to include the other genders. Except as otherwise specifically provided herein, where any action is required to be taken on a
particular day and such day is not a Business Day and, as a result, such action cannot be taken on such day, then this Agreement shall be deemed to provide that such action shall be taken on the first Business Day after such day. 

8.13 Contributors’ Representative. 
 Each Contributor hereby irrevocably constitutes and appoints the Contributors’ Representative, acting singly, as its true and lawful agent, proxy and attorney-in-fact and authorizes the
Contributors’ Representative acting for such Contributors and in such 

  
 17 

 
Contributors’ name, place and stead, in any and all capacities to do and perform every act and thing reasonably necessary or desirable to be done in connection with the transactions
contemplated hereby, as fully to all intents and purposes as such Contributors might or could do in person, except to the extent that this Agreement specifically provides for an action to be taken by or for, or a notice to be delivered to, the
Contributors, including for the purposes of: (i) performing the duties of the Contributors’ Representative as set forth in this Agreement; (ii) accepting from the Purchaser the payment of the Purchase Price or any other amounts
payable to the Contributors in connection therewith, and distributing to each Contributor its portion thereof; (iii) changing the time, date or place of the Closing; (iv) granting any consent or waiver required or desired of the
Contributors by the Purchaser pursuant to this Agreement; (v) representing the Contributors in connection with any dispute between the Contributors, on the one hand, and the Purchaser and ATA, on the other hand, including disputing or settling
any claim by the Purchaser; (vi) determining the presence (or absence) of claims for payment pursuant to this Agreement or any agreement executed in connection herewith; (vii) to engage and employ agents and representatives (including
accountants, legal counsel and other professionals) and to incur such other expenses as the Contributors’ Representative reasonably deems necessary or prudent in connection herewith; (viii) executing and delivering the Escrow Agreement and
authorization the Escrow Agent to release the documents delivered to the Escrow Agent pursuant to the terms thereof; and (ix) taking any action and executing and delivering any and all documents contemplated by this Agreement and any other
instruments which the Contributors’ Representative may deem necessary or advisable to accomplish the purposes of this Agreement. Each Contributor hereby grants unto the Contributors’ Representative full power and authority to do and
perform each and every act as is described under this Section 8.13, as fully to all intents and purposes as the Contributors might or could do in person, hereby ratifying and confirming all that the Contributors’ Representative has
lawfully done consistent herewith and may lawfully do or cause to be done by virtue hereof. Each Contributor hereby agrees by executing this Agreement that the foregoing agency, proxy and power of attorney are coupled with an interest, and are
therefore irrevocable without the consent of the Contributors’ Representative and shall survive the bankruptcy of such Person. Each Contributor hereby acknowledges and agrees that upon execution of this Agreement any delivery by the
Contributors’ Representative of any waiver, amendment, agreement, opinion, certificate or other documents executed by the Contributors’ Representative in accordance with this Section 8.13 or any decisions made by the
Contributors’ Representative in accordance with this Section 8.13 shall be binding on such Person as fully as if such Person had executed and delivered such documents or made such decisions. 

(a) The Contributors’ Representative shall not have by reason of this Agreement a fiduciary relationship in respect of any
Contributor, except in respect of amounts received by Contributors’ Representative on behalf of a Contributor. The Contributors’ Representative shall not be liable to any Contributor for any action taken or omitted by it or any agent
employed by it under this Agreement or any other agreement or other document executed in connection herewith or therewith, except that the Contributors’ Representative shall not be relieved of any liability imposed by law for bad faith or
willful misconduct. The Contributors’ Representative shall not be liable to any Contributor for any apportionment or distribution of payments made by it in good faith, and, if any such apportionment or distribution is subsequently determined to
have been made in error, the sole recourse of any Contributor to whom payment was due, but not made, shall be to recover from the other Contributors, as applicable, any 

  
 18 

 
payment in excess of the amount to which they are determined to have been entitled pursuant to this Agreement. The actions of the Contributors’ Representative are fully and completely
binding and the Purchaser is entitled to rely upon the provisions of this Section 8.13. 
 (b) The Contributors will
severally indemnify the Contributors’ Representative (in proportion to their respective Allocable Portions of the Purchase Price) and hold the Contributors’ Representative harmless against all loss, liability, or expense incurred without
bad faith or willful misconduct on the part of such Contributors’ Representative and arising out of or in connection with the acceptance or administration of such Contributors’ Representative’s duties hereunder, including the
reasonable fees and expenses of any legal counsel retained by the Contributors’ Representative. The Contributors’ Representative will be entitled to the advance and reimbursement of costs and expenses incurred in the performance of its
duties hereunder. 
 8.14 Contribution to Certain Potential Liabilities Under Master Agreement. In addition to and not in
lieu of the provisions of Section 8.13, each Contributor hereby acknowledges that ELRM has agreed pursuant to the Master Agreement to assume or indemnify the Purchaser and ATA for certain potential liabilities relating to the Contributed
Entity or the Property, some or all of which are to borne by the Contributors. Each Contributor hereby agrees to execute and deliver to ELRM at or prior to the Closing an agreement relating to such Contributor’s contribution (based on its
Allocable Portion of the Purchase Price) toward such liabilities, if any, substantially in the form attached hereto as Exhibit D. 
 8.15 Attorneys’ Fees. Should any Party employ attorneys to enforce any of the provisions hereof against any other Party (including, without limitation, in respect of the breach by such other
Party of its representations, warranties, covenants and agreements hereunder), the Party against whom any final judgment is entered agrees to pay the prevailing Party all reasonable costs, charges, and expenses, including any attorneys’ fees
and disbursements, expended or incurred in connection therewith. 
 8.16 Escrow Agreement. Each Contributor hereby
acknowledges and agrees that (i) the documents to be executed and delivered by such Contributor hereunder are being executed simultaneously with this Agreement and delivered to the Escrow Agent to be held in escrow by the Escrow Agent pursuant
to the terms thereof and (ii) without limiting the terms of Section 8.13 hereof, Contributor’s Representative is authorized and directed to execute the Escrow Agreement on behalf of such Contributor and, in connection with the
Closing, to authorize and direct the Escrow Agent to release and deliver the escrowed documents pursuant to the terms of the Escrow Agreement, the MCA and this Agreement, as applicable. 

[Signature pages follow] 

  
 19 

 IN WITNESS OF THE FOREGOING, each Party executes this Interest Contribution Agreement as of
the date first written above, by the Party’s duly authorized officer. 
  

									
	CONTRIBUTORS:	 	ELCO LANDMARK AT BIRMINGHAM MANAGEMENT, LLC
			
		 	By:	 	Elco Landmark Residential Holdings, LLC,
		 		 	 a Delaware limited liability company,
 its sole member

				
		 		 	By:	 	JLCo, LLC,
		 		 		 	 a Florida limited liability company,
 its manager

					
		 		 		 	By:	 	 /s/ Joseph Lubeck

		 		 		 		 	Name: Joseph Lubeck
		 		 		 		 	Title: President

  

Signature Page to Interest Contribution Agreement 
 Relating to Landmark Grand at Galleria, LLC (Magnolia) 

							
	CONTRIBUTORS:	 	LEGACY GALLERIA LLC	 	
				
		 	By:	 	 /s/ David B. St. Pierre
	 	
		 		 	Name: David B. St. Pierre	 	
		 		 	Title: CEO	 	

  

Signature Page to Interest Contribution Agreement 
 Relating to Landmark Grand at Galleria, LLC (Magnolia) 

							
	CONTRIBUTORS’ REPRESENTATIVE:	 	ELCO LANDMARK RESIDENTIAL MANAGEMENT, LLC	 	
				
		 	By:	 	 /s/ Joseph Lubeck
	 	
		 	Name:	 	Joseph Lubeck	 	
		 	Title:	 	President	 	

  

Signature Page to Interest Contribution Agreement 
 Relating to Landmark Grand at Galleria, LLC (Magnolia) 

							
	PURCHASER:	 	APARTMENT TRUST OF AMERICA HOLDINGS, L.P.	 	
				
		 	By:	 	Apartment Trust of America, Inc., its general partner	 	
				
		 	By:	 	 /s/ Stanley J. Olander, Jr.
	 	
		 	Name:	 	Stanley J. Olander, Jr.	 	
		 	Title:	 	Chief Executive Officer & Chairman of the Board	 	

  

Signature Page to Interest Contribution Agreement 
 Relating to Landmark Grand at Galleria, LLC (Magnolia) 

							
	ATA:	 	APARTMENT TRUST OF AMERICA, INC,	 	
				
		 	By:	 	 /s/ Stanley J. Olander, Jr.
	 	
		 	Name:	 	Stanley J. Olander, Jr.	 	
		 	Title:	 	Chief Executive Officer & Chairman of the Board

  

Signature Page to Interest Contribution Agreement 
 Relating to Landmark Grand at Galleria, LLC (Magnolia) 

 APPENDIX 1 
 DEFINITIONS 
 “Affiliate” means, with respect to a
specified Person, each other Person that directly or indirectly Controls, is controlled by, or is under common Control with that Person. For purposes of this Agreement, except as otherwise expressly provided, the Affiliates of EL and ELRM shall be
limited to Joseph Lubeck, Elco Holdings Ltd. and their respective Controlled Affiliates. 
 “As-Built Drawings”
means the final “as-built” plans and specifications for the Improvements with respect to the Property. 
 “ATA
Common Stock” means the common stock, $0.01 par value per share, of ATA. 
 “Business Day” means any
day other than (a) a Saturday or a Sunday, (b) a day on which banks are required or authorized by Law to be closed in the City of New York. 
 “Contracts” means, with respect to the Property, any agreement, contract, obligation, promise or commitment (whether written or oral) that is legally binding on the Contributed Entity,
any of its Subsidiaries or the Property. 
 “Control” means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of a Person, whether through the ownership of an equity interest, by contract or otherwise. The terms “Controlled by” and “under common Control with” have
correlative meanings. 
 “Entity” means, except for Governmental Authorities, (a) any corporation,
partnership, joint venture, limited liability company, business trust or other business entity, (b) any association, unincorporated business or other organization, (c) trust and (d) any other organization having legal status as an
entity under any Law. 
 “Governmental Authority” means (a) any body exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to government, including any governmental agency, department, board, commission or other instrumentality, whether national, territorial, federal, state, provincial, local,
supranational or other authority, (b) any organization of multiple nations, or (c) any tribunal, court or arbitrator of competent jurisdiction. 
 “Improvements” means, with respect to the Property, all buildings and other structures and improvements situated on the land, to the extent the same form a part of the Property.

 “Investor Package” means, collectively, (i) copies of (A) this Agreement, the Master Agreement and
each of the exhibits and schedules hereto and thereto, (B) the Interest Contribution Agreements (or similar agreements) with respect to each of the other properties to be transferred to ATA Holdings pursuant to the transactions contemplated by
the Master Agreement and (C) the Securities Purchase Agreement by and among ATA, 2335887 Limited Partnership, DeBartolo Real Estate Investment, LLC, Elco Landmark Residential Holdings LLC and the other parties thereto, in each case, including
each of the exhibits and schedules thereto, 

  
 Appendix 1-1

 
(ii) copies of ATA’s Annual Report on Form 10-K for the year ended December 31, 2011, , 2012 Annual Proxy Statement, and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K
filed with or furnished to the SEC since the filing date of ATA’s Annual Report on Form 10-K and on or prior to the date hereof, and (iii) a pro forma capitalization table as of the date hereof showing the consolidated, fully
diluted equity and debt capitalization of ATA on a pro forma basis after giving effect to each of the transactions contemplated by the Master Agreement. 
 “Law” and “Laws” mean (a) any constitution applicable to, and any statute, treaty, rule, regulation, ordinance, or requirement of any kind of, any Governmental
Authority, (b) principles of common law, and (c) any Order. 
 “Leases” means, with respect to the
Property, collectively, all leases, rental agreements, license agreements and occupancy agreements pursuant to which any non-commercial tenant, licensee or occupant has a possessory right or license with respect to any portion of the Real Property,
together with any amendments, modifications or supplements made thereto. 
 “Lien” means any lien, encumbrance,
security interest, pledge or any other title restriction of any kind. 
 “Material Adverse Effect” means a
material adverse change in the condition, financial or otherwise, or in the earnings, business affairs, business prospects, management, assets or properties of ATA and or its Subsidiaries considered as one enterprise, whether or not arising in the
ordinary course of business. 
 “OP Agreement” means the agreement of limited partnership of ATA Holdings, as
amended and in effect from time to time. 
 “Order” means any decree, injunction, judgment, order, ruling,
writ, assessment or arbitration award of a Governmental Authority, arbitrator or arbitral body, commission or self-regulatory organization, whether arising from a Proceeding or applicable Law. 

“Organizational Documents” means each of the following, as applicable, as amended and supplemented: (a) the
articles or certificate of incorporation and the bylaws of a corporation; (b) the partnership agreement and any statement of partnership of a general partnership; (c) the limited partnership agreement and the certificate of limited
partnership of a limited partnership; (d) the operating agreement (or limited liability company agreement) and certificate of organization or formation of a limited liability company; and (e) any charter or similar document adopted or
filed in connection with the creation, formation or organization of a Person. 
 “Permits” means, with respect
to the Property, all governmental permits and approvals, including licenses, registrations and authorizations, required for the ownership and operation of the Contributed Entity or the Property at the Real Property, including without limitation,
qualifications to do business, certificates of occupancy, building permits, signage permits, site use approvals, zoning certificates, environmental and land use permits, and any and all other necessary approvals from Governmental Authorities and
other approvals granted by any public body. 
 “Person” means an individual, an Entity or a Governmental
Authority. 

  
 Appendix 1-2

 “Proceeding” means any action, claim, audit or other inquiry, hearing,
investigation, suit or other charge or proceeding (whether civil, criminal, administrative, investigative, formal or informal) by or before any Governmental Authority or before an arbitrator or arbitral body or mediator. 

“Purchaser Promissory Note” is defined in Section 1.2(a). 

“Real Property” shall mean, with respect to the Property, collectively, the land and Improvements, together with all
easements, rights of way, privileges, licenses and appurtenances which the Contributed Entity or any of its Subsidiaries may now own or hereafter acquire with respect thereto. 
 “SEC Reports” means any and all reports, schedules, forms, statements and other documents required under applicable Laws to be filed or furnished by ATA to the U.S. Securities and
Exchange Commission, including, without limitation, proxy information and solicitation materials, in each case, in the form and with the substance prescribed by such Laws. 
 “Settlement Statement” means the settlement statement with respect to the Property to be entered into by the Purchaser and the Contributors’ Representative in accordance with the
provisions of the Master Agreement. 
 “Transaction Agreements” means collectively this Agreement, the Master
Agreement and the other agreements contemplated to be delivered in connection herewith or therewith. 

  
 Appendix 1-3

 SCHEDULE A 
 CONTRIBUTION SCHEDULE 
  

					
	 Contributors:
	  	Allocable Portion of
Purchase
Price1	 	Securities/Purchaser
Promissory Note
	 Elco Landmark at Birmingham Management,

LLC, a Delaware limited liability company
	  	55.6%	 	OP Units (2,444,868)
	 Notice address:

c/o Elco Landmark Residential

            Management, LLC

825 Parkway Street

Jupiter, Florida 33477

Attention: Joseph Lubeck,

                  Chief
Executive Officer
 Fax: (561) 745-8745

Email: jlubeck@landmarkresidential.com
	  		 	
	 Legacy Galleria LLC, a Delaware limited

liability company
	  	40.2%	 	OP Units (1,769,063)
		  	2.8%	 	Cash
		  	1.4%	 	Purchaser Promissory
Note

 Notice address: 
 c/o Legacy Capital Partners 

The Offices at Legacy Village 
 25333 Cedar Road,
Suite 300 
 Lyndhurst, OH 44124 

Attention: David St. Pierre 
 Fax:
(216) 381-2901 
 Email: dsp@lcp1.com 
 With a copy to: 
 David R. Tavolier Esq. 
 Kahn Kleinman, LPA 
 1301 East Ninth Street, Suite 2600 

Cleveland, OH 44114 
 Fax: (216) 623-4912

 Email: dtavolier@kahnkleinman.com 
  

 

	1 	 Results from calculating distributions through the waterfall in the operating agreement. 

 Contributed Entity: 
 Landmark Grand at Galleria, LLC, a Delaware limited liability company 
 Property:
            Landmark Grand at Galleria (Birmingham, AL) 
 Agreed Equity
Value:             $35,837,017 

 EXHIBIT A 
 FORM OF INSTRUMENT OF ASSIGNMENT 
 [TO BE ATTACHED 

 EXHIBIT B 
 FORM OF JOINDER TO OP AGREEMENT 

 EXHIBIT C 
 FORM OF RELEASE OF CLAIMS 

 EXHIBIT D 
 FORM OF LIABILITY CONTRIBUTION AGREEMENT 

 EXHIBIT E 
 FORM OF PURCHASER PROMISSORY NOTEInterest Contribution Agreement (Bay Breeze Villas)

 Exhibit 10.20 
 INTEREST CONTRIBUTION AGREEMENT 
 by and among 

DK BAY BREEZE, LLC, a Florida limited liability company 
 the Contributor, 
 DEBARTOLO DEVELOPMENT, LLC, 

a Delaware limited liability company, 
 as the Contributor’s Representative, 
 APARTMENT TRUST OF AMERICA
HOLDINGS, L.P., 
 a Virginia limited partnership, 

as the Partnership 
 and 
 APARTMENT TRUST OF AMERICA, INC., a Maryland corporation

 August 3, 2012 
 Bay Breeze Villas 
 Cape Coral—Ft. Myers, Florida 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 SECTION 1. DEFINITIONS.
	  	 	2	  
		
	 SECTION 2. CONTRIBUTION AND SALE; DUE DILIGENCE; CONDEMNATION AND CASUALTY.
	  	 	13	  
		
	 2.1            Contribution and Sale
	  	 	13	  
	 2.2            Title Matters
	  	 	13	  
	 2.3            Condemnation
	  	 	14	  
	 2.4            Casualty
	  	 	14	  
	 2.5            Excluded Liabilities and Excluded
Assets
	  	 	15	  
		
	 SECTION 3. CLOSING; CONTRIBUTION PRICE.
	  	 	16	  
	 3.1            Closings
	  	 	16	  
	 3.2            Agreed Contribution Value
	  	 	17	  
	 3.3            Contributors’ Initial Closing
Documents
	  	 	17	  
	 3.4            Partnership’s Initial Closing
Documents
	  	 	19	  
	 3.5            Contributors’ Subsequent Closing
Documents
	  	 	20	  
	 3.6            Partnership’s Subsequent Closing
Documents
	  	 	21	  
	 3.7            Escrow Agent’s Subsequent Closing
Deliveries
	  	 	21	  
		
	 SECTION 4. CONDITIONS TO PARTNERSHIP’S OBLIGATION TO CLOSE.
	  	 	21	  
	 4.1            Representations and Warranties True
	  	 	21	  
	 4.2            Lender Approval
	  	 	21	  
	 4.3            Contributors’ Performance
	  	 	22	  
	 4.4            Title Policies
	  	 	22	  
	 4.5            Permits; Consents
	  	 	22	  
	 4.6            No Bankruptcy or Court Order
	  	 	22	  
	 4.7            Closing Under Cash Investment
Agreement
	  	 	23	  
	 4.8            No Material Adverse Change
	  	 	23	  
	 4.9            Closing Deliveries
	  	 	23	  
		
	 SECTION 5. CONDITIONS TO CONTRIBUTORS’ OBLIGATION TO CLOSE.
	  	 	23	  
	 5.1            Representations and Warranties True
	  	 	23	  
	 5.2            Lender Approval
	  	 	23	  
	 5.3            Partnership’s Performance
	  	 	23	  
	 5.4            No Bankruptcy or Court Order
	  	 	24	  
	 5.5            Closing Deliveries
	  	 	24	  

  
 i 

					
	 SECTION 6. REPRESENTATIONS AND WARRANTIES OF CONTRIBUTORS; PARTNERSHIP’S INDEPENDENT INVESTIGATION;
ACCESS
	  	 	24	  
	 6.1            Representation and Warranties of
Contributors
	  	 	24	  
	 6.2            Due Diligence Materials
	  	 	34	  
	 6.3            Access
	  	 	35	  
		
	 SECTION 7. REPRESENTATIONS AND WARRANTIES OF PARTNERSHIP AND ATA.
	  	 	35	  
		
	 7.1            Organization and Authorization
	  	 	35	  
	 7.2            No Consents
	  	 	36	  
	 7.3            No Conflicting Agreements
	  	 	36	  
	 7.4            Litigation
	  	 	36	  
	 7.5            Authorization of Issuance of
Securities
	  	 	36	  
	 7.6            No Registration of Securities
	  	 	36	  
	 7.7            Integration
	  	 	37	  
		
	 SECTION 8. INTERIM OPERATION OF THE PROPERTY AND ADDITIONAL COVENANTS.
	  	 	37	  
	 8.1            Compliance with Laws and Permitted
Encumbrances
	  	 	37	  
	 8.2            General Operation
	  	 	37	  
	 8.3            Maintenance; Contracts
	  	 	38	  
	 8.4            New Leases; Vacant Units
	  	 	38	  
	 8.5            Audits of the Property and Operations
	  	 	38	  
	 8.6            Financial Information
	  	 	38	  
	 8.7            Extraordinary Actions
	  	 	39	  
	 8.8            Capital Improvements
	  	 	39	  
	 8.9            Delivery and Use of Annual Financial
Statements
	  	 	39	  
	 8.10          Exclusivity
	  	 	39	  
	 8.11          Tax Change Notices; Other Events
	  	 	39	  
	 8.12          Commercially Reasonable Efforts
	  	 	40	  
	 8.13          Admission to Partnership
	  	 	40	  
		
	 SECTION 9.    APPORTIONMENTS; CLOSING COSTS.
	  	 	40	  
	 9.1            Apportionments
	  	 	40	  
	 9.2            Closing Costs
	  	 	43	  
		
	 SECTION 10. TERMINATION; REMEDIES FOR PRE-CLOSING DEFAULTS.
	  	 	43	  
	 10.1          Termination
	  	 	43	  
	 10.2          Effect of Termination
	  	 	43	  
	 10.3          Partnership’s Remedies for Pre-Closing
Default
	  	 	44	  
	 10.4          Contributors’ Remedy for Pre-Closing Default
	  	 	44	  
	 10.5          Limitations on Liability
	  	 	45	  

  
 ii 

					
	 SECTION 11. INDEMNIFICATION.
	  	 	46	  
	 11.1          Contributor’s Indemnity
	  	 	46	  
	 11.2          Partnership’s Indemnity
	  	 	47	  
	 11.3          Indemnification Procedure
	  	 	47	  
	 11.4          Survival
	  	 	47	  
		
	 SECTION 12. TAX MATTERS.
	  	 	47	  
	 12.1          Tax Matters
	  	 	48	  
	 12.2          Allocation of Taxes
	  	 	48	  
	 12.3          Cooperation
	  	 	49	  
	 12.4          Tax Returns
	  	 	49	  
	 12.5          Claims; Tax Proceedings
	  	 	50	  
	 12.6          Certain Tax Elections
	  	 	50	  
	 12.7          Other Treatment
	  	 	50	  
	 12.8          Other Provisions
	  	 	50	  
	 12.9          Survival
	  	 	51	  
		
	 SECTION 13. MISCELLANEOUS.
	  	 	51	  
	 13.1          Drafts not an Offer to Enter into a Legally Binding
Contract
	  	 	51	  
	 13.2          Brokerage Commissions
	  	 	51	  
	 13.3          Publicity
	  	 	51	  
	 13.4          Notices
	  	 	52	  
	 13.5          Waivers, Etc
	  	 	53	  
	 13.6          Assignment; Successors and Assigns
	  	 	53	  
	 13.7          Severability
	  	 	54	  
	 13.8          Counterparts, Entire Agreement, Amendments
	  	 	54	  
	 13.9          Governing Law; Jurisdiction; Waiver of Jury Trial
	  	 	54	  
	 13.10        Performance on Business Days
	  	 	55	  
	 13.11        Attorneys’ Fees
	  	 	55	  
	 13.12        Relationship
	  	 	55	  
	 13.13        Section and Other Headings
	  	 	55	  
	 13.14        Further Assurances
	  	 	55	  
	 13.15        Force Majeure
	  	 	55	  
	 13.16        Time of Essence
	  	 	56	  
	 13.17        Contributors’ Representative
	  	 	56	  
	 13.18        All or Nothing Transaction
	  	 	57	  
	 13.19        Survival
	  	 	57	  
	 13.20        ATA’s SEC Filings
	  	 	57	  
	 13.21        Legends
	  	 	58	  

  
 iii

 LIST OF EXHIBITS AND SCHEDULES 

 

			
	Exhibit A	  	Legal Description of the Land
	Exhibit B	  	Rent Roll
	Exhibit C	  	[Intentionally Omitted]
	Exhibit D	  	Form of Tax Protection Agreement
	Exhibit E	  	Form of Assignment and Assumption Agreement
	Exhibit F	  	Form of Interest Assignments
	Exhibit G	  	[Intentionally Omitted]
	Exhibit H	  	Release of Claims
	Exhibit I	  	Form of Audit Inquiry Letter
	Exhibit J	  	Form of Joinder to Registration Rights Agreement
	Exhibit K	  	Form of Amendment to Partnership Agreement
	Exhibit L	  	Form of Governance Agreement
	Exhibit M	  	Form of Articles Supplement
	Exhibit N	  	Form of Cash Investment Agreement
	Exhibit O	  	Form of Escrow Agreement
	Exhibit P	  	Form of Joinder to Partnership Agreement
		
	Schedule 1	  	List of Other Contribution Agreements
	Schedule 2.2(c)	  	Objections List
	Schedule 3.2(c)(ii)	  	List of Contributors Eligible for Tax Protection
	Schedule 6.1(b)	  	Capitalization and Title to Interests
	Schedule 6.1(d)	  	List of Subsidiaries
	Schedule 6.1(i)	  	Leased FF&E
	Schedule 6.1(j)	  	Schedule of Non-Terminable Contracts
	Schedule 6.1(l)	  	Litigation
	Schedule 6.2	  	List of Due Diligence Materials
	Schedule 8.8	  	Required Capital Improvements

  
 iv 

 INTEREST CONTRIBUTION AGREEMENT 

THIS INTEREST CONTRIBUTION AGREEMENT (this “Agreement”) is made effective as of August 3, 2012 (the
“Effective Date”), by and among (i) DK BAY BREEZE, LLC, a Florida limited liability company (the “Contributor”), (ii) DEBARTOLO DEVELOPMENT, LLC, a Delaware limited liability company (the
“Contributor’s Representative”), (iii) APARTMENT TRUST OF AMERICA HOLDINGS, L.P., a Virginia limited partnership, or its successors and assigns (the “Partnership”), and (iv) APARTMENT TRUST
OF AMERICA, INC., a Maryland corporation (“ATA”). 
 W I T N E S S E T H : 

WHEREAS, the Contributor owns directly, beneficially and of record, one hundred percent (100%) of the membership interest in
BAY BREEZE SONESTA, LLC, a Florida limited liability company (referred to herein as the “Contributed Entity” or the “Property Owner”); and 

WHEREAS, all of the outstanding membership interests in the Contributed Entity are collectively referred to herein as the
“Interests”; and 
 WHEREAS, the Property Owner is the owner of the real property located in Cape Coral
– Ft. Myers, Florida, and more particularly described on Exhibit A attached hereto and incorporated herein by this reference (the “Land”), together with the improvements located thereon, commonly known as “Bay
Breeze Villas”; and 
 WHEREAS, ATA is the general partner of the Partnership, and ATA holds its assets and conducts
its operations through the Partnership; and 
 WHEREAS, concurrently with the execution and delivery of this Agreement,
the ATA and others have entered into a securities purchase agreement with the investors named therein, in the form attached hereto as Exhibit N (the “Cash Investment Agreement”), relating to the cash investment by such
investors, in one or more tranches, in exchange for the securities and other consideration set forth therein; and 
 WHEREAS,
concurrently with the execution and delivery of this Agreement, the Partnership, ATA, Elco Landmark Residential Holdings LLC, and Elco Landmark Residential Management LLC have entered into the Master Contribution Agreement and various interest
contribution agreements with one or more Affiliates of the parties to the Master Contribution Agreement; and 
 WHEREAS,
the Partnership, the Contributor and its Affiliates, as applicable, also have executed and delivered certain other agreements and instruments, both pursuant to this Agreement and the Other Contribution Agreements, all of which have been delivered to
Goulston & Storrs, P.C. in its capacity as escrow agent (“Escrow Agent”), to be held by Escrow Agent in escrow pending the applicable Subsequent Closings under this Agreement and such Other Contribution Agreements pursuant
to their terms and to the terms of that certain Escrow Agreement dated as of the date hereof by and between the parties and the Escrow Agent in the form attached hereto as Exhibit O; and 

  
 1 

 WHEREAS, the Contributor wishes to contribute the Interests in the Contributed
Entity to the Partnership, and the Partnership wishes to acquire (either directly or through an Affiliate to which the Partnership may assign its rights hereunder) the Interests in the Contributed Entity and thereby acquire all of the Contributed
Entity’s right, title and interest in and to the Property Owner upon the terms and conditions hereafter set forth. 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual
receipt and legal sufficiency of which are hereby acknowledged, the Contributor and the Partnership hereby agree as follows: 
  

	 	SECTION 1.	DEFINITIONS. 

 Capitalized
terms used in this Agreement and not defined elsewhere herein shall have the meanings set forth below, in the Section of this Agreement referred to below, or in such other document or agreement referred to below (such definitions to be equally
applicable to both the singular and plural forms of the terms defined). When a reference is made in this Agreement to Sections, subsections, Schedules or Exhibits, such reference is to a Section, subsection, Schedule or Exhibit to this Agreement
unless otherwise indicated. The words “include,” “includes” and “including” when used herein are deemed in each case to be followed by the words “without limitation.” The word “herein” and similar
references mean, except where a specific Section reference is expressly indicated, the entire Agreement rather than any specific Section. The word “or” has, except as otherwise indicated, the inclusive meaning represented by the phrase
“and/or.” 
 “Accredited Investors” shall have the meaning set forth in Rule 501(a) of Regulation D
under the Securities Act of 1933, as amended. 
 “Act of Bankruptcy” shall mean: (i) if a party hereto or
any general partner, manager or any Person with a Controlling Interest thereof shall (a) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or all of or a
substantial part of its property; (b) admit in writing its inability to pay its debts as they become due; (c) make a general assignment for the benefit of its creditors; (d) file a voluntary petition or commence a voluntary case or
proceeding under the Federal Bankruptcy Code (as now or hereafter in effect); (e) be adjudicated a bankrupt or insolvent; (f) file a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization,
winding-up or composition or adjustment of debts; (g) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in an involuntary case or proceeding under the Federal Bankruptcy Code (as
now or hereafter in effect); or (h) take any corporate or partnership action for the purpose of effecting any of the foregoing; or (ii) if a proceeding or case shall be commenced, without the application or consent of a party hereto or any
general partner thereof in any court of competent jurisdiction seeking (1) the liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of debts, of such party or general partner; (2) the appointment of a
receiver, custodian, trustee or liquidator for such party or general partner or all or any substantial part of its assets; or (3) other similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition
or adjustment of debts, and such proceeding or case shall continue undismissed; or (iii) an order (including an order for relief entered in an involuntary case under the Federal Bankruptcy Code, as now or hereinafter in effect), judgment or
decree approving or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period of sixty (60) consecutive days. 

  
 2 

 “Additional Exception” shall have the meaning given such term in
Section 2.2(d). 
 “Adverse Consequences” shall mean all liabilities, demands, claims, actions,
causes of action, costs, expenses, damages (including incidental, special, but excluding consequential and punitive damages and lost profits), Taxes, losses, penalties, fines, judgments or amounts paid in settlement, including reasonable
attorneys’ and accountants’ fees, including, without limitation, all Adverse Consequences incurred by the Contributed Entity. The term Adverse Consequences expressly includes any consequences arising from the Partnership’s sending, or
failure to send, any filings relating to Transfer Taxes due, or otherwise, in connection with the transactions contemplated by this Agreement, including any interest, penalties or reassessment of the value of the Property for purposes of ad valorem
taxes, and the Partnership’s failure to pay any Transfer Taxes due in connection with the transactions contemplated by this Agreement. 
 “Affiliate” shall mean any Person directly or indirectly controlling, controlled by, under common control with, or having a Controlling Interest in that Person and any officer, director
or controlling person of that Person. For purposes of this Agreement, each Contributor and the Contributed Entity is an Affiliate of each other Contributor and the Contributed Entity. 

“Agreed Contribution Value” shall mean the aggregate amount of Seventeen Million Seven Hundred Thousand and No/100
Dollars ($17,700,000.00), subject to the adjustments, credits and prorations as provided herein, payable in accordance with the provisions of Section 3.2. 
 “Agreement” shall mean this Interest Contribution Agreement, together with all Exhibits and Schedules attached hereto, as it and they may be amended from time to time as herein provided.

 “Annual Financial Statements” shall mean the audited financial statements of the Contributed Entity, on a
consolidated basis to the extent applicable, as of and for the fiscal years ended December 31, 2009, 2010 and 2011. 

“Articles Supplement” shall mean the supplement to the Charter in substantially the form attached hereto as Exhibit
M. 
 “As-Built Drawings” shall mean, with respect to the Real Property, the final “as-built”
plans and specifications for the Improvements, which are to be furnished by the Contributor to the Partnership pursuant to Section 3.5(b). 
 “Assignment and Assumption Agreement” shall have the meaning given such term in Section 2.5. 
 “ATA” shall have the meaning given such term in the first paragraph of this Agreement. 
 “ATA Common Stock” means the common stock, $0.01 par value per share, of ATA. 

  
 3 

 “Audit Inquiry Letter” shall have the meaning given such term in
Section 13.20. 
 “Audited Year” shall have the meaning given such term in
Section 13.20. 
 “Business Day(s)” shall mean any day other than a Saturday, Sunday or any other
day on which banking institutions in the State of New York are authorized by law or executive action to close. 
 “Cash
Investment Agreement” shall have the meaning set forth in the Recitals. 
 “Casualty Notice” shall
have the meaning given such term in Section 2.4(a) 
 “Charter” means the Articles of Amendment and
Restatement of ATA, as amended or supplemented from time to time, including by the Articles Supplement. 

“Claims” shall have the meaning given such term in Section 11.3. 

“Closing Contingencies” shall have the meaning given such term in Section 4. 

“Code” shall mean the Internal Revenue Code of 1986, as amended, and all regulations promulgated thereunder from time to
time. 
 “Condemnation Notice” shall have the meaning given such term in Section 2.3. 

“Contracts” shall mean any agreement, contract, obligation, promise or commitment (whether written or oral) that is
legally binding on the Contributed Entity or the Property, including but not limited to: (a) equipment leases and laundry leases relating to the Property and to which the Property Owner is a party, (b) the Existing Management Agreement,
and (c) any service or other contracts relating to the Property and to which the Property Owner is a party which are disclosed in writing to the Partnership on or before the Initial Closing, which are acceptable to Partnership in the
Partnership’s reasonable discretion; provided, however, any equipment leases, service or other contracts that the Partnership does not wish to assume and which are cancellable without penalty on not more than sixty (60) days’ notice
shall be caused to be terminated by the Contributor simultaneous with the Subsequent Closing. 
 “Contributed
Entity” shall have the meaning given such term in the recitals. 
 “Contributor” shall have the
meaning given such term in the first paragraph of this Agreement. 
 “Contributor’s Representative” shall
have the meaning given to such term in the first paragraph of this Agreement. 
 “Controlling Interest” shall
mean: (a) as to a corporation, the right to exercise, directly or indirectly, more than fifty percent (50%) of the voting rights attributable to the shares of such corporation (through ownership of such shares or by contract), and
(b) as to a Person not a corporation, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person. 

  
 4 

 “Court Order” shall mean any judgment, order, award or decree of any United
States federal, state or local, or any supra-national or non-United States, court or tribunal and any award in any arbitration Proceeding. 
 “Delinquent Amounts” shall have the meaning given such term in Section 9.1(b). 
 “Due Diligence Materials” shall have the meaning given such term in Section 6.2. 
 “Effective Date” shall have the meaning set forth in the preamble to this Agreement. 
 “Escrow Agent” shall have the meaning set forth in the Recitals. 

“Excluded Assets” shall mean the real property or personal property (if any) owned by the Contributor, the Contributed
Entity or their Subsidiaries as of the Initial Closing Date which do not constitute, or are not located on, used or held in connection with, earned or derived from, the Property. 

“Excluded Liabilities” shall have the meaning given such term in Section 2.5. 

“Existing Management Agreement” shall mean that certain property management agreement heretofore in effect by and
between the Property Owner and the Existing Manager. 
 “Existing Manager” shall mean GREP Southeast, LLC, a
Delaware limited liability company. 
 “FF&E” shall mean all appliances, machinery, devices, fixtures,
appurtenances, equipment, furniture, furnishings and articles of tangible personal property of every kind and nature whatsoever owned by the Property Owner and located in or at, or used in connection with the ownership, operation or maintenance of,
the Property, but excluding the Excluded Assets. FF&E shall include, but not limited to: (a) all equipment, machinery, fixtures, and other items of property, now or hereafter permanently affixed to or incorporated into the Real Property,
including, without limitation, all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air and water pollution control, waste disposal, air-cooling and air-conditioning systems and
apparatus, sprinkler systems and fire and theft protection equipment, all of which, to the maximum extent permitted by law, are hereby deemed by the parties hereto to constitute real estate, together with all replacements, modifications, alterations
and additions thereto; (b) all furniture, furnishings, movable walls or partitions, moveable machinery, moveable equipment, computers or trade fixtures or other personal property of any kind or description used or useful in the operating and
maintenance of the Property, and located on or in the Real Property, and all modifications, replacements, alterations and additions to such personal property; (c) supply items customarily included within “Property and Equipment” under
GAAP, and (d) supplies and all other tangible personal property used in connection with the operation, ownership, or maintenance of the Real Property (as such terms are customarily used and defined in the most broad and inclusive sense).

 “Financial Statements” shall mean the Interim Financial Statements and the Annual Financial Statements
collectively. 

  
 5 

 “FIRPTA Affidavits” shall have the meaning given such term in
Section 3.3(o). 
 “Force Majeure” shall have the meaning given such term in
Section 13.15. 
 “GAAP” shall mean Generally Accepted Accounting Principles as adopted by the
American Institute of Certified Public Accountants, consistently applied. 
 “Governance Agreement” shall mean
the Corporate Governance Agreement substantially in the form attached hereto as Exhibit L, among ATA and the other parties thereto. 
 “Governmental Authority” shall mean any federal, state, county or municipal government, or political subdivision thereof, any governmental agency, authority, board, bureau, commission,
department, instrumentality, or public body, or any court or administrative tribunal. 
 “Hazardous Materials”
shall mean materials, wastes or substances (including, without limitation, any pollutants or contaminants such as asbestos and raw materials which include hazardous components), hazardous mold or other similar substances or materials, that are
(i) included within the definition of any one or more of the terms “hazardous substances,” “hazardous materials,” “toxic substances,” “toxic pollutants” and “hazardous waste” in the Hazardous
Materials Laws, (ii) regulated, or classified as hazardous or toxic, under federal, state or local environmental laws or regulations, (iii) petroleum or petroleum by-products, including gasoline and diesel, (iv) asbestos or
asbestos-containing materials, (v) polychlorinated biphenyls, (vi) flammable explosives, and (vii) radioactive materials. 
 “Hazardous Materials Laws” shall mean shall mean any federal, state or local law, statute, ordinance, order, decree, rule or regulation and any common laws regarding health, safety,
radioactive materials, or the environment, including, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601, et seq.; the Resource Conservation and Recovery
Act, 42 U.S.C. § 6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq., the Occupational, Safety and Health Act, 29 U.S.C. § 651, et seq., the Clean Air Act, 42 U.S.C.
§ 7401, et seq., the Federal Water Pollution Control Act, 33 U.S.C. § 1251, et seq., the Safe Drinking Water Act, 42 U.S.C. § 3001, et seq., the Hazardous Materials Transportation Act, 49 U.S.C.
§ 1801, et seq., the Emergency Planning and Community Right to Know Act, 42 U.S.C. § 11001, et seq., the Endangered Species Act of 1973, 16 U.S.C. § 1531 et seq., the Federal Insecticide, Fungicide and
Rodenticide Act, 7 U.S.C. § 136 et seq. and other comparable federal, state or local laws, each as amended, and all rules, regulations and guidance documents promulgated pursuant thereto or published thereunder. 

“Improvements” shall mean all buildings, fixtures, walls, fences, landscaping and other structures and improvements
situated on, affixed or appurtenant to the Land, including, but not limited to, all pavement, access ways, curb cuts, parking, kitchen and support facilities, meeting rooms, swimming pool facilities, recreational amenities, office facilities,
drainage system and facilities, air ventilation and filtering systems and facilities and utility facilities and connections for sanitary sewer, potable water, irrigation, electricity, telephone, cable television and natural gas, if applicable, to
the extent the same form a part of the Property and all appurtenances thereto. 

  
 6 

 “Indebtedness” shall mean, at a particular time, without duplication, to
the extent required to be reflected as a liability on a balance sheet prepared in accordance with GAAP, (i) any indebtedness for borrowed money or issued in substitution for or exchange of indebtedness for borrowed money, (ii) any
indebtedness evidenced by any note, bond, debenture or other debt security, (iii) any indebtedness for the deferred purchase price of property or services with respect to which a Person is liable, contingently or otherwise, as obligor or
otherwise (other than trade payables and other current liabilities incurred in the Ordinary Course which are not more than ninety (90) days past due), (iv) any obligations under capitalized leases with respect to which a Person is liable
as obligor, (v) any indebtedness secured by a Lien on a Person’s assets, (vi) any distributions payable or loans/advances payable to any related parties or partners as of the Initial Closing, (vii) any non-compete payments,
earn-out obligations and other obligations to former owners of businesses, and (viii) any other liabilities recorded in accordance with GAAP on a balance sheet as of the Initial Closing, which are not due within one (1) year of the Initial
Closing, including any unfunded employee or retiree obligations and any environmental liabilities, (ix) all guaranties in connection with the foregoing, and (x) any accrued interest, penalties, fees and expenses on any of the foregoing.

 “Indemnified Party” shall have the meaning given such term in Section 11.3. 

“Indemnifying Party” shall have the meaning given such term in Section 11.3. 

“Initial Closing” shall have the meaning set forth in Section 3.1. 

“Initial Closing Date” shall have the meaning set forth in Section 3.1. 

“Intangible Property” shall mean all (a) Permits, contract rights, and warranties, and (b) certificates,
licenses, warranties, guarantees, Contracts, patents, trademarks, copyrights and other intellectual property related to the Property held by the Property Owner and/or its Affiliates, including without limitation, their respective trades or
businesses the names, and the exclusive right to use the name “Esplanade Apartments” and any abbreviations or variations thereof. 
 “Interest Assignments” shall have the meaning given such term in Section 3.3(a). 
 “Interests” shall have the meaning given such term in the recitals. 
 “Interim Financial Statements” shall mean the unaudited financial statements of the Contributed Entity as of and for the three-month period ended March 31, 2012. 

“Investor Package” shall mean the information, private placement memoranda, investor questionnaires, subscription
documents and other documents and information as may be necessary or advisable in form and substance mutually acceptable to the Parties in order for the Contributor to make its decisions to accept the OP Units. 

“IRS” shall mean the Internal Revenue Service. 
 “Land” shall have the meaning given such term in the recitals. 

  
 7 

 “Latest Balance Sheet” shall have the meaning given such term in
Section 6.1(e). 
 “Law” shall mean any presently existing or future federal, state, regional or
local law, constitution, rule, statute, ordinance, regulation, decision, ruling, permit, certificate, requirement or order of any Governmental Authority. 
 “Leases” shall mean collectively all leases, rental agreements, license agreements and occupancy agreements pursuant to which a Tenant has a possessory right or license with respect to
any portion of the Real Property and which are in effect as of the Effective Date and are shown on the Rent Roll attached hereto as Exhibit B, together with any amendments, modifications or supplements made thereto and any new Leases
entered into by the Property Owner from time to time after the Effective Date and before the Subsequent Closing that conform to the requirements of Section 8.4 and are shown on the Rent Roll to be delivered at Subsequent Closing.

 “Lender” shall mean the lender making the new Loan, or if such new Loan cannot be obtained, then the lender
under the existing Loan Documents. 
 “Lender Approval” have the meaning given such term in
Section 4.2. 
 “Lender Approval Documents” have the meaning given such term in
Section 4.2. 
 “Lien” shall mean any lien, charge, covenant, adverse claim, demand, encumbrance,
security interest, commitment, pledge or any other title defect or restriction of any kind. 
 “Loan” shall
mean the new loan evidenced by the Loan Documents to be obtained by the Property Owner at the Subsequent Closing and secured by the Property, or if such new loan cannot be obtained, then the existing loan evidenced by the existing Loan Documents.

 “Loan Costs” shall mean any and all fees, costs and expenses, including, without limitation, any loan
application and origination fees, review fees, consent fees, Lender’s attorneys’ fees and other costs, expenses and fees provided for in the Loan Documents in connection with obtaining and closing on the new Loan (or obtaining consent to
transfer under the existing Loan Documents, if applicable) at the Subsequent Closing. 
 “Loan Documents” shall
mean either (a) all promissory notes, deeds of trust, mortgages, guaranties, assignments, documents, and instruments evidencing and securing the new Loan, in form and substance acceptable to the Partnership, to be executed and delivered at the
Subsequent Closing, or (b) the existing loan documents described on Exhibit C attached hereto if the Property Owner is unable to obtain the new Loan and instead obtains consent from the existing Lender to the transactions contemplated by
this Agreement and the necessary amendments in order to document such consent. 
 “Master Contribution
Agreement” means the Master Contribution and Recapitalization Agreement of contemporaneous date herewith among the Partnership, ATA, Elco Landmark Residential Holdings LLC, a Delaware limited liability company, and Elco Landmark Residential
Management LLC, a Delaware limited liability company, together with all Schedules and Exhibits attached thereto, as it and they may be amended from time to time as provided therein. 

  
 8 

 “Material Adverse Change” shall mean any event, change or development that
is reasonably expected to have a material adverse effect on the assets, liabilities, financial condition, prospects, operations, operating results or earnings of any Contributor, the Contributed Entity, or Property. 

“Net Agreed Contribution Value” shall have the meaning given such term in Section 3.2(c). 

“Non-Performing Party” shall have the meaning given such term in Section 10.5(a). 

“Non-Terminable Contracts” shall have the meaning given such term in Section 6.1(j). 

“Objection List” shall have the meaning given such term in Section 2.2(c). 

“OP Issuance Delivery Documents” shall have the meaning given to such term in Section 3.2(c)(iii) of this
Agreement. 
 “OP Units” shall mean units of limited partnership interests in the Partnership with the rights
and preferences as set forth in the Partnership Agreement, and which will, following a 12-month holding period, become redeemable by the Contributor receiving OP Units in exchange for either (i) shares of ATA common stock on a one-for-one basis
or (ii) a cash amount equal to the product of (A) the number of redeemed OP Units, multiplied by (B) the Cash Amount (as defined in the Partnership Agreement); provided, however, if the ATA Common Stock has not become listed or
admitted to trading on any national securities exchange at the time of the redemption, the Cash Amount, notwithstanding any provision in the Partnership Agreement to the contrary, shall be $8.15 per redeemed OP Unit). 

“Ordinary Course” shall mean the ordinary course of business of the Contributed Entity or the Property, consistent with
past custom and practice (including as applicable, with respect to quantity and frequency). 
 “Organizational
Documents” means each of the following, as applicable, as amended and supplemented: (a) the articles or certificate of incorporation and the bylaws of a corporation; (b) the partnership agreement and any statement of partnership
of a general partnership; (c) the limited partnership agreement and the certificate of limited partnership of a limited partnership; (d) the operating agreement (or limited liability company agreement) and certificate of organization or
formation of a limited liability company; and (e) any charter or similar document adopted or filed in connection with the creation, formation or organization of a Person. 
 “Other Contribution Agreements” shall mean collectively the separate interest contribution agreements set forth on Schedule 1. 

“Outside Closing Date” shall mean the date that is the six (6) month anniversary of the Initial Closing Date, as
such date may be extended by mutual agreement of the Partnership and the Contributor. 

  
 9 

 “Partnership” shall mean Apartment Trust of America Holdings, L.P., a
Virginia limited partnership, and its successors and assigns. The Partnership’s name is expected to be changed to Landmark Apartment Trust Holdings, L.P. 
 “Partnership Agreement” shall mean the Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of December 27, 2005, as amended on June 3, 2010 and
June 28, 2011, as the same may be amended from time to time, including by the amendment contemplated by Section 7.1 hereof. 
 “Permits” shall mean all governmental permits and approvals, including licenses, registrations and authorizations, required for the ownership and operation of the Property Owner or the
Property at the Real Property, including without limitation, qualifications to do business, certificates of occupancy, building permits, signage permits, site use approvals, zoning certificates, environmental and land use permits, and any and all
other necessary approvals from Governmental Authorities and other approvals granted by any public body. 
 “Permitted
Encumbrances” shall mean: (a) any exceptions, exclusions and other matters set forth in or disclosed by the Title Commitments and any other exceptions to title disclosed in the Surveys which are either not objected to by the
Partnership or are waived by Partnership as set forth herein; (b) liens for taxes, assessments and governmental charges with respect to the Property for the current year and not yet due and payable or due and payable but not yet delinquent
(provided the same are paid by the Contributor prior to becoming delinquent); (c) applicable zoning regulations and ordinances and other governmental laws, ordinances and regulations, provided the Real Property is in compliance therewith; and
(d) the Leases. 
 “Person” shall mean any natural person, corporation, general or limited partnership,
limited liability company, stock company or association, joint venture, company, trust, bank, trust company, land trust, business trust, cooperative, any governmental or agency or political subdivision thereof or any other entity, and the heirs,
executors, administrators, legal representatives, successors and assigns of such Person where the context so admits. 

“Pre-Closing Tax Period” means any taxable period that ends on or before the Initial Closing Date. 

“Proceeding” shall mean any action, arbitration, audit, hearing, investigation, litigation or suit whether civil,
criminal, administrative, investigative or informal brought, conducted, commenced or heard by or before any Governmental Authority or arbitrator. 
 “Property” shall mean, collectively, all of the Property Owner’s Real Property, personal property, intangible or other assets, including, without limitation its ownership interest in
the Real Property, the FF&E, the Contracts, Leases and the Intangible Property. 
 “Property Owner” shall
have the meaning given such term in the recitals. 
 “Real Property” shall mean collectively the Land and
Improvements, together with all easements, rights of way, privileges, licenses and appurtenances which Property Owner now owns. 

  
 10 

 “Registration Rights Agreement” shall mean the joinder to the registration
rights agreement in substantially the form attached hereto as Exhibit J. 
 “Rent Roll” shall mean
the rent roll attached hereto as Exhibit B, any supplements and updates delivered or made available to the Partnership or its Representatives as part of the Due Diligence Materials, and as updated by Contributor’s Representative and
delivered to Partnership as of the Subsequent Closing Date. 
 “Representatives” shall mean any Person’s
respective officers, directors, partners, members, trustees, shareholders, controlling persons, employees, agents, advisors, attorneys, potential lenders, Affiliates or representatives. 

“Required Capital Improvements” shall have the meaning given such term in Section 8.8. 

“SEC” shall mean the United States Securities and Exchange Commission. 

“SEC Filings” shall have the meaning given such term in Section 13.20. 

“SEC Reports” shall mean all reports, schedules, forms, statements and other documents required to be filed with or
furnished to the SEC by ATA and Partnership prior to the Effective Date. 
 “Settlement Statement” shall mean
the settlement statement to be prepared by the Title Company and executed by the Contributor and the Partnership, in a form acceptable to all parties, reflecting the various closing costs, credits and prorations contemplated by this Agreement.

 “Schedule of Non-Terminable Contracts” shall have the meaning given such term in Section 6.1(j).

 “Straddle Period” shall mean any taxable period that includes, but does not end on, the Initial Closing
Date. 
 “Stub Period” shall have the meaning given such term in Section 13.20. 

“Subsequent Closing” shall have the meaning set forth in Section 3.1. 

“Subsequent Closing Date” shall have the meaning set forth in Section 3.1. 

“Subsidiary” shall mean, in respect of any Person, any corporation, partnership, limited liability company, joint
venture or other legal entity of which such Person (either directly or through or together with another Subsidiary of such Person), (A) owns capital stock or other equity interests having ordinary voting power to elect a majority of the board
of directors (or equivalent) of such Person, (B) controls the management of which, directly or indirectly, through one or more intermediaries, (C) directly or indirectly through Subsidiaries owns more than 50% of the equity interests or
(D) is a general partner. 

  
 11 

 “Survey” shall have the meaning given such term in
Section 2.2(b). 
 “Tax” means any net income, capital gains, gross income, gross receipts, sales,
use, transfer (but expressly excluding any Transfer Tax), ad valorem, franchise, profits, license, capital, withholding, payroll, estimated, employment, excise, goods and services, severance, stamp, occupation, premium, real property, personal
property, unclaimed property, social security, environmental (including Code section 59A), alternative or add-on, value added, registration, windfall profits or other tax or customs duties or amount imposed by any Governmental Authority, or any
interest, any penalties, additions to tax or additional amounts incurred or accrued under applicable tax law or properly assessed or charged by any Governmental Authority, whether disputed or not, but expressly excluding any reassessment of the
Property for any post-Initial Closing tax year due to the closing of the transactions contemplated herein, including the transfer of the Interests, or any interest or penalties incurred in connection with such change of ownership. 

“Tax Claim” shall have the meaning given such term in Section 12.5. 

“Tax Contest” shall have the meaning given such term in Section 12.5. 

“Tax Protection Agreement” shall mean that certain Tax Protection Agreement, in the form of Exhibit D
attached hereto and made a part hereof, to be executed and delivered at the Initial Closing among ATA, the Partnership, and the Contributor if listed on Schedule 3.2(c)(ii) attached hereto. 

“Tax Return” shall mean any report, return, or other information required (including any attachments or schedules
required to be attached to a such report, return, or other information) required under applicable Law to be supplied (or actually supplied) to a Governmental Authority or a third party in connection with Taxes. 

“Tenant(s)” shall mean the non-commercial tenant(s), licensee(s) or occupant(s) under any Leases in effect at the Real
Property. 
 “Title Commitment” shall have the meaning given such term in Section 2.2(a).

 “Title Company” shall mean Chicago Title Insurance Company, or any other title insurance company selected by
the Partnership. 
 “Transaction Documents” shall have the meaning given such term in
Section 6.1(a). 
 “Transfer Taxes” shall mean any transfer, sales, use, recordation or other
similar taxes, impositions, expenses or fees incurred in connection with the sale, transfer or conveyance of the Interests, the Contributed Entity, the Property Owner and/or the Property from the Contributor to the Partnership. Transfer Taxes shall
not include, and the Contributor shall be solely responsible for, any Taxes due in respect of its income, net worth or capital, if any, and any privilege, sales and occupancy taxes, and any other Taxes, due or owing to any Governmental Authority in
connection with the operation of the Contributed Entity and the Property for any period of time prior to the Initial Closing, and the Partnership shall be solely responsible for all such Taxes for any period from and after the Initial Closing.
Further, Transfer Taxes shall not include any sales, 

  
 12 

 
use, recordation or other similar Taxes, impositions, expenses or fees arising prior to the Initial Closing or related to any period prior to the Initial Closing. Further, any income Tax arising
as a result of the contribution, sale and transfer of the Interests, the Contributed Entity or Property by the Contributor to the Partnership shall be the sole responsibility of the Contributor. 

“Treasury Regulations” shall mean the permanent and temporary regulations, and all amendments, modifications and
supplements thereof, from time to time promulgated by the Department of the Treasury under the Code. 
  

	 	SECTION 2.	CONTRIBUTION AND SALE; DUE DILIGENCE; CONDEMNATION AND CASUALTY. 

2.1 Contribution and Sale. The Partnership hereby agrees to acquire from the Contributor, and the Contributor hereby agrees to
contribute to the Partnership, the Interests, free and clear of all Liens, for the Agreed Contribution Value, subject to and in accordance with the terms and conditions of this Agreement. 

2.2 Title Matters. 
 (a) Delivery of Title Commitments. The Partnership has obtained, at its sole cost and expense, and delivered to the Contributor, a current commitment for an ALTA extended owner’s policy from
the Title Company with respect to the Real Property and/or such endorsements or updates to the existing owner’s policies as the Partnership may desire. Additionally, the Partnership shall order, at its sole cost and expense, a commitment for an
ALTA mortgagee title insurance policy (or a commitment to endorse the existing policy, as applicable) for the Loan from the Title Company, together with complete and legible copies of all instruments and documents referred to therein as exceptions
to title (such owner’s and mortgagee commitments or commitments to endorse are sometimes referred to collectively herein as the “Title Commitments”). 
 (b) Survey. If required by the Lender in connection with the Lender Approval or if Partnership otherwise elects to do so, the Partnership shall order, at its sole cost and expense, a current
as-built ALTA/ACSM survey with respect to the Real Property or such updates and/or recertifications to the existing survey as the Partnership may desire (the “Survey”), by a licensed surveyor in the jurisdiction in which the Real
Property is located, and certified to the Partnership, the Contributed Entity, the Title Company and the Lender. The Contributor shall deliver to the Partnership and/or the surveyor such documents, affidavits, or certifications as may be requested
in order to issue the Survey. Alternatively, the Contributor’s Representative agrees upon request to execute on behalf of the Contributed Entity and deliver to the Title Company an affidavit of no change with respect to any existing survey, to
the extent no material changes have been made to the Improvements since the date of the most recent survey. 
 (c) Notice of
Title and Survey Defects. Attached hereto as Schedule 2.2(c) are the Partnership’s objections to any matters shown on or contained in the Title Commitments and the Survey that are not otherwise included in subsections (b)
through (d) of the definition of Permitted Encumbrances and that the Partnership objects to (the “Objection List”). All of the exceptions to coverage shown on the Title Commitments other than the

  
 13 

 
existing Loan Documents securing or otherwise relating to the loan being refinanced with the Loan (which existing Loan Documents shall become Permitted Encumbrances if the Property Owner does not
obtain the new Loan and instead obtains Lender Approval to transfer/assume the existing Loan) shall be deemed Permitted Encumbrances; provided, however, the Contributor agrees to use good faith efforts to cause the Title Company to remove the
objections set forth on the Objections List. The provisions of this Section 2.2(c) shall survive the Initial Closing. 
 (d) Additional Exception. Except for new Leases entered into after the Effective Date in accordance with the requirements of this Agreement, the Contributor and the Contributed Entity shall be
expressly prohibited from further encumbering the Property (or the Interests) from and after the Effective Date in any manner that would reasonably be expected to have a “Portfolio Material Adverse Affect” (as defined in the Master
Contribution Agreement) without the Partnership’s prior written consent in the Partnership’s sole and absolute discretion (the “Additional Exception”), unless such Additional Exception shall be released of record prior to
the Subsequent Closing. 
 2.3 Condemnation. If prior to the Subsequent Closing, any proceedings, judicial,
administrative or otherwise, are threatened or commenced, which relate to a taking or proposed taking of any portion of a Real Property by eminent domain, including without limitation any parking spaces, entrances, or areas where entrance signs are
located, the Contributor’s Representative shall promptly notify the Partnership in writing and in reasonable detail of the same (the “Condemnation Notice”). The Partnership may elect within fifteen (15) Business Days of
its receipt of the Condemnation Notice, and the Subsequent Closing Date shall, if necessary, be extended to give the Partnership the benefit of the entire fifteen (15) Business Day period, either (i) to terminate this Agreement by
notifying the Contributor in writing whereupon Contributor and the Partnership shall have no further obligations or liabilities hereunder except for those obligations or liabilities which expressly survive the termination of this Agreement, or
(ii) to consummate the transactions contemplated hereby, notwithstanding such condemnation, without any abatement or reduction in the Agreed Contribution Value on account thereof except as herein provided, but at the Subsequent Closing the
applicable Contributor or other Person shall assign to the Partnership all related condemnation proceeds payable (but not yet paid as of the Subsequent Closing) and to the extent that the applicable Contributor or other Person has received any
condemnation proceeds prior to the Subsequent Closing, the Agreed Contribution Value shall be abated by an amount equal to the award paid to the Contributor or such other Person on account of such taking, less the amount of the Contributor’s or
such other Person’s costs and expenses, including reasonable attorneys’ fees and expenses, incurred in establishing and collecting such award. In addition, if the Partnership elects to proceed in accordance with clause (ii) above, the
Partnership shall have the right to appear and defend at such condemnation proceedings. Failure of the Partnership to give such notice within the time prescribed above shall be deemed an election by the Partnership to proceed in accordance with
clause (i) above. 
 2.4 Casualty. 
 (a) If prior to the Subsequent Closing, the Property is damaged or destroyed by fire or other casualty, the Contributor’s Representative shall promptly, but in any event within five (5) Business
Days and prior to the Subsequent Closing, notify the Partnership 

  
 14 

 
of the same (the “Casualty Notice”). If the cost of restoring the damage to the Property is less than One Hundred Thousand Dollars ($100,000.00), the Partnership shall be
obligated to acquire the Interests notwithstanding the occurrence of the damage or destruction and upon the Subsequent Closing, the Partnership shall receive a credit against the Agreed Contribution Value in the amount (net of collection costs and
costs of repair reasonably incurred by the Contributor and not then reimbursed) of any insurance proceeds collected and retained by the Contributor or the Contributed Entity as a result of any such damage or destruction plus (in the case of damage)
the amount of the deductible portion of the applicable Person’s insurance policy and the Contributor shall cause the applicable Person to assign to the Partnership all rights to such insurance proceeds as shall not have been collected prior to
the Subsequent Closing. 
 (b) If the cost of restoring the damage to the Property is One Hundred Thousand Dollars
($100,000.00) or more, the Partnership may elect within fifteen (15) Business Days of its receipt of the Casualty Notice, together with the documented estimated costs of restoring the damage, and the Subsequent Closing Date shall, if necessary,
be extended to give the Partnership the benefit of the entire fifteen (15) Business Day period, either (x) to terminate this Agreement by notifying the Contributor in writing whereupon the Contributor and the Partnership shall have no
further obligations or liabilities hereunder except for those obligations or liabilities which expressly survive the termination of this Agreement, or (y) to consummate the transactions contemplated hereby, notwithstanding the occurrence of the
damage or destruction and upon the Subsequent Closing, the Partnership shall receive a credit against the Agreed Contribution Value in the amount (net of collection costs and costs of repair reasonably incurred by the Contributor and not then
reimbursed) of any insurance proceeds collected and retained by the Contributor or the Contributed Entity as a result of any such damage or destruction or otherwise denied to the Partnership by the insurance provider plus (in the case of damage) the
amount of the deductible portion of the applicable Person’s insurance policy and the Contributor shall cause the applicable Person to assign to the Partnership all rights to such insurance proceeds as shall not have been collected prior to the
Subsequent Closing. Failure of the Partnership to give such notice within the time prescribed above shall be deemed an election by the Partnership to proceed in accordance with clause (x) above. 

(c) The risk of loss to the Property shall pass to the Partnership upon the Initial Closing. 

(d) In the event of a disagreement between the Contributor’s Representative and the Partnership as to whether a casualty satisfies
a threshold set forth in this Section 2.4, the determination of the independent insurance adjuster pursuant to the applicable Person’s casualty insurance policy covering the Property shall be binding. 

2.5 Excluded Liabilities and Excluded Assets. At the Initial Closing, the Contributor (or its duly authorized attorneys-in-fact),
the Contributed Entity and the Partnership shall execute and deliver an assignment and assumption agreement in the form and substance of Exhibit E attached hereto, and by this reference made a part hereof (the “Assignment and
Assumption Agreement”), pursuant to which the Contributor shall assume the Excluded Liabilities and retain, or acquire from the Contributed Entity, the Property Owner and their Subsidiaries, all Excluded Assets pursuant to the terms and
conditions of this Agreement, and the Partnership and the Property Owner shall not retain or be obligated to pay, perform or otherwise 

  
 15 

 
discharge after the Initial Closing any of the Excluded Liabilities and shall have no rights with respect to the Excluded Assets; provided, however, the existence of the Assignment and Assumption
Agreement shall in no way diminish or otherwise alter the indemnity rights and/or obligations of the parties set forth in this Agreement. For purposes of this Agreement, “Excluded Liabilities” shall mean the following liabilities,
whether direct or indirect, known or unknown, absolute or contingent: 
 (a) any liabilities of the Contributor, the
Contributed Entity, the Subsidiaries and their respective Affiliates other than the Property Owner; 
 (b)(i) any
liabilities or obligations arising from any act, conduct or omission of the Contributor, the Contributed Entity, the Subsidiaries or the Property Owner or any of their Representatives that has accrued, arisen, occurred or come into existence at any
time prior to the Initial Closing Date, and (ii) any liabilities or obligations related to the ownership, use or operation of the Property prior to the Initial Closing Date; 

(c) any liabilities or obligations in respect of Taxes for which the Contributor are liable pursuant to Section 12;

 (d) any payables and other liabilities or obligations of the Contributor, the Contributed Entity, the Subsidiaries and the
Property Owner (other than the Loan), whether or not owed to any of their respective Affiliates, which are not in the Ordinary Course; 
 (e) to the extent accrued, arising, occurring or coming into existence at any time prior to and including the Subsequent Closing Date (including any arising as a result of such closing), any liability or
obligation related to or arising from any employees or employee-related matters, including but not limited to, any benefit plan, compensation, retirement, severance or any other employee benefits plan or program whatsoever and any liabilities or
obligations related to COBRA or the WARN Act; 
 (f) any liability or obligation related to or arising from any of the Excluded
Assets; or 
 (g) any liability or obligation related to or arising from any matters disclosed or that should have been
disclosed on Schedule 6.1(l) (Litigation). 
  

	 	SECTION 3.	CLOSING; CONTRIBUTION PRICE. 

 3.1 Closings. 
 (a) The Initial Closing shall take place at the offices of
Hunton & Williams LLP, 200 Park Avenue, New York, New York 10166, or such other mutually agreed upon location, on the date hereof (the “Initial Closing Date”). As used in this Agreement, the term “Initial
Closing” means the execution and delivery of this Agreement, and other agreements, documents and instruments to be executed and delivered concurrently herewith, to the Escrow Agent to hold and release in accordance with the terms of this
Agreement and the Escrow Agreement. 

  
 16 

 (b) The Escrow Agent shall release and deliver to the Partnership and the Contributor, as
applicable, the agreements, documents and instruments delivered pursuant to Section 3.1(a) above (the “Subsequent Closing”) on the date that is on or before the date that is three (3) Business Days after the
satisfaction (or waiver if permitted) of the Closing Contingencies and conditions set forth in Sections 4 and 5 of this Agreement. The Subsequent Closing shall take place at the offices of Hunton & Williams LLP, 200 Park
Avenue, New York, New York 10166, or such other mutually agreed upon location. The date of the Subsequent Closing is referred to herein as a “Subsequent Closing Date.” 

3.2 Agreed Contribution Value. At the Subsequent Closing, the Partnership shall pay the Agreed Contribution Value as follows:

 (a) Loan. Subject to the terms and conditions of this Agreement, including obtaining the Lender Approval, the current
principal amount (as of the Initial Closing Date) of the existing Loan being refinanced (or remaining in place and transferred, as applicable) shall be credited against the Agreed Contribution Value. 

(b) Cash. The Partnership shall direct the Escrow Agent to distribute to the Contributor cash in the amount of $3,500,000.00 by
wire transfer to such account as may be directed by Contributors. At the Initial Closing, the Partnership shall deposit in escrow with the Escrow Agent the sum of $3,500,000 to be held by the Escrow Agent in accordance with the Escrow Agreement and
disbursed to the Contributor on the Subsequent Closing Date pursuant to this Section 3.2(b). 
 (c) OP
Units. The Agreed Contribution Value, less the $3,500,000.00 cash portion described above and the principal balance of the Loan and plus or minus the adjustments and prorations required by this Agreement as of the Initial Closing, as shown on
the Settlement Statement (the “Net Agreed Contribution Value”), shall be distributed to the Contributor in the following form(s) and on the following terms: 
 (i) The Contributor at the Subsequent Closing will receive the number of OP Units equal to (A) the Net Agreed Contribution Value divided by $8.15, and (B) rounding up so that each such
Contributor shall receive a whole number of OP Units. 
 (ii) Recipients of OP Units, once issued and delivered to them
pursuant to Section 3.2(c)(i) above, will be granted registration rights with respect to the shares of ATA Common Stock issuable upon any redemption of the OP Units pursuant to the Registration Rights Agreement, which will be executed
and delivered to the Escrow Agent by the parties thereto at the Initial Closing. Additionally, if the Contributor is listed on Schedule 3.2(c)(ii) attached hereto, the Contributor will be entitled to the benefits of a Tax Protection
Agreement, which will be executed and delivered by the Contributor and the Partnership at the Initial Closing. 
 (iii) At or
prior to the Initial Closing, the Contributor shall execute and deliver to the Partnership all of the following (collectively, the “OP Issuance Delivery Documents”): (A) a joinder or counterpart signature page to the
Partnership Agreement in the form attached hereto as Exhibit P, (B) if such Contributor is one of the 

  
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contributors listed on Schedule 3.2(c)(ii) attached hereto who will be entitled to the benefit of a Tax Protection Agreement, a counterpart signature page to the applicable Tax Protection
Agreement executed by such Contributor in the form attached hereto as Exhibit D, (C) an IRS Form W-9, and (D) any other information or documents that may be required by the Partnership Agreement. 

3.3 Contributor’s Initial Closing Documents. At the Initial Closing, the Contributor will deliver to the Escrow Agent each of
the following agreements, instruments and other documents, all of which are being duly executed and delivered to the Escrow Agent on the date hereof to be held in escrow pending the Subsequent Closing pursuant to the terms of this Agreement and the
Escrow Agreement: 
 (a) Such assignments as shall be sufficient to vest in the Partnership good and marketable title to the
Interests, free and clear of all Liens, the form of which is set forth on Exhibit F, attached hereto and by this reference made a part hereof (the “Interest Assignments”); 

(b) The OP Issuance Delivery Documents of the Contributor; 
 (c) An executed counterpart of the Governance Agreement signed by DeBartolo Real Estate Investments, LLC; 
 (d) A Loan Indemnification Agreement in the form of Exhibit G (the “Loan Indemnification Agreement”), to be executed by the applicable guarantors under the existing Loan who are
affiliated with the Contributor and held in escrow until the Subsequent Closing, but to be effective as of the Initial Closing, and released to the Contributor at the Subsequent Closing if the new Loan is not obtained and if the guarantors under the
existing Loan have not been replaced as part of the Lender Approval Documents for the consent to transfer/assumption of the existing Loan; 
 (e) The Registration Rights Agreement to be held in escrow until the Subsequent Closing, but to be effective as of the Initial Closing; 

(f) A Tax Protection Agreement to be held in escrow until the Subsequent Closing; 

(g) The Assignment and Assumption Agreement; 
 (h) A release of any and all claims which any Contributor may have against the Contributed Entity and its successors on account of or arising out of any matter, cause or event occurring at or prior to the
Initial Closing, including any rights to indemnification or reimbursement, the form of which is attached hereto as Exhibit H; 
 (i) Updated Rent Rolls dated within one (1) Business Day of the Initial Closing Date; 

  
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 (j) Any necessary UCC termination statements or other releases as may be required to
evidence the satisfaction of any Liens on any of the Property that are required by the terms of this Agreement to be terminated or released prior to Initial Closing; 
 (k) Certified copies of all organizational documents, applicable resolutions, certificates of incumbency, and good standing certificates with respect to the Contributor, the Contributed Entity, the
Property Owner and such other Persons as Title Company may reasonably require; 
 (l) Resignations of all of the directors,
managers and officers of the Contributed Entity, the Property Owner and their Subsidiaries effective as of the Initial Closing; 
 (m) All corporate seals, books and records, ownership ledgers and other similar records pertaining to the Contributed Entity, the Property Owner, their Subsidiaries and/or the Property; 

(n) A duly completed and executed certificate from the Contributor pursuant to Treasury Regulation section 1.1445-2(b)(2) certifying
that such Contributor is not a “foreign person” within the meaning of Code section 1445 (a “FIRPTA Affidavit”); 
 (o) A notice to the Existing Manager, which shall not be delivered to the Escrow Agent but rather shall be delivered to the Existing Manager on the Initial Closing Date, notifying the Existing Manager
that the ownership of the Property is being transferred by contribution of the Interests, and that the Existing Management Agreement shall automatically terminate as of the Subsequent Closing Date pursuant to Section 5.2 of the Existing
Management Agreement; 
 (p) Any assignments necessary to vest adequately with the Contributed Entity any Contracts which are
for the benefit, but not in the name, of the Contributed Entity; 
 (q) An executed counterpart of the Settlement Statement;

 (r) Any and all other instruments and documents required to be delivered by the Contributor at or prior to the Initial
Closing pursuant to and in accordance with any of the other provisions of this Agreement, and such other documents or instruments as the Partnership may reasonably request to effect the transactions to be consummated at the Initial Closing; and

 (s) All of the agreements, instruments and other documents to be duly executed and/or delivered, as applicable, by the
Contributor and its Affiliates as may be a party thereto at the Subsequent Closing, which agreements, instruments and other documents shall be held in escrow by the Escrow Agent and delivered by Escrow Agent in accordance with the Escrow Agreement.

  
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 3.4 Partnership’s Initial Closing Documents. At the Initial Closing, the
Partnership will deliver, or cause to be delivered in the manner set forth below, to the Escrow Agent to be held in escrow pending the Subsequent Closing pursuant to the terms of this Agreement and the Escrow Agreement each of the following
agreements, instruments and other documents, duly executed and delivered by each of the Partnership or ATA as may be a party thereto: 
 (a) The Loan Indemnification Agreement, to be held in escrow until the Subsequent Closing, but to be effective as of the Initial Closing, and released to the Contributor at the Subsequent Closing if the
new Loan is not obtained and if the guarantors under the existing Loan have not been replaced as part of the Lender Approval Documents for the consent to transfer/assumption of the existing Loan; 

(b) A duly executed counterpart of each joinder to the Partnership Agreement which were executed by the Contributor; 

(c) An executed counterpart of the Settlement Statement; 
 (d) An executed counterpart of the applicable Tax Protection Agreements; 
 (e) An
executed counterpart of the Registration Rights Agreement; 
 (f) An executed counterpart of the Governance Agreement;

 (g) Certified copies of applicable resolutions, certificates of good standing, and certificates of incumbency with respect
to the Partnership and such other Persons as the Title Company may reasonably require; 
 (h) An assignment of this Agreement
by the Partnership to its Affiliates, if applicable, in compliance with the provisions of Section 13.6; 
 (i)
Certificates evidencing the OP Units to be issued by the Partnership to the Contributor registered in the name of the Contributor; 
 (j) Any and all other instruments and documents required to be delivered by the Partnership or ATA at or prior to the Initial Closing pursuant to and in accordance with any of the other provisions of this
Agreement, and such other documents or instruments as the Contributor may reasonably request to effect the transactions to be consummated at the Initial Closing; and 
 (k) All of the agreements, instruments and other documents to be duly executed and/or delivered as applicable by the Partnership or ATA as may be a party thereto at the Subsequent Closing, which
agreements, instruments and other documents shall be held in escrow by the Escrow Agent and delivered by Escrow Agent in accordance with this Agreement and the Escrow Agreement. 

3.5 Contributor’s Subsequent Closing Documents. At the Subsequent Closing, the Contributor will execute and/or deliver to the
Partnership, or cause to be executed and delivered, each of the following agreements, instruments and other documents: 
 (a)
The Lender Approval Documents;\ 

  
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 (b) An owner’s affidavit, and all such other affidavits required by Subsection
2.2(b) and Subsection 2.2(c), executed by the Property Owner and in a form acceptable to the Title Company for the purpose of satisfying the requirements of the Title Commitments; 

(c) Copies of all Permits, As-Built Drawings and final certificates of occupancy (if available and in any Contributor’s, the
Contributed Entity’s, the Property Owner’s, or Existing Manager’s control as of the Subsequent Closing Date) for the Property; 
 (d) The original (or if not available, legible copies) of any and all Leases (together with an updated Rent Roll), Contracts, warranties and guarantees pertaining to the Improvements that are in any
Contributor’s, the Contributed Entity’s, the Property Owner’s or Existing Manager’s control as of the Subsequent Closing Date; and 
 (e) Any and all other instruments and documents required to be delivered by the Contributor or the Contributor’s Representative at or prior to the Subsequent Closing pursuant to and in accordance
with any of the other provisions of this Agreement, and such other documents or instruments as the Purchaser or ATA may reasonably request to effect the transactions contemplated hereby. 

3.6 Partnership’s Subsequent Closing Documents. At the Subsequent Closing, the Partnership will execute and/or deliver to
Purchaser, or cause to be executed and delivered, each of the following agreements, instruments and other documents: 
 (a) The
Lender Approval Documents; 
 (b) Any and all other instruments and documents required to be delivered by the Partnership or
ATA at or prior to the Subsequent Closing pursuant to and in accordance with any of the other provisions of this Agreement, and such other documents or instruments as the Contributor may reasonably request to effect the transactions contemplated
hereby. 
 3.7 Escrow Agent’s Subsequent Closing Deliveries. At the Subsequent Closing, the parties hereto shall
direct the Escrow Agent to release from escrow and deliver to the Partnership, the Contributor and/or the Title Company as applicable all of the agreements, instruments and other documents delivered to the Escrow Agent pursuant to Sections 3.3
and 3.4 above (except for the Loan Indemnification Agreement if the Lender Approval is obtained to transfer/assume the existing Loan if the new Loan is not obtained, and if the guarantors under the existing Loan have been replaced as part
of the Lender Approval Documents, in which event the Escrow Agent shall return the executed Loan Indemnification Agreement to the Partnership or destroy it) and the $3,500,000 delivered to the Escrow Agent pursuant to Section 3.2(b)
above. 

  
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	 	SECTION 4.	CONDITIONS TO PARTNERSHIP’S OBLIGATION TO CLOSE. 

 The obligation of the Partnership to consummate the transactions contemplated by this Agreement is and shall be subject to the satisfaction or written waiver by the Partnership of the following conditions
precedent on and as of either the Initial Closing Date or the Subsequent Closing Date, as indicated below, or such other date as set forth herein (each, a “Closing Contingency” and collectively, the “Closing
Contingencies”): 
 4.1 Representations and Warranties True. As a Closing Contingency to the Initial Closing,
the representations and warranties of the Contributor set forth in Section 6.1 shall be true, correct and complete in all material respects (without duplication as to the materiality qualifications contained therein) on and as of the
Initial Closing Date (except that any representations or warranties made as of a specified date shall be true and correct in all material respects (without duplication as to the materiality qualifications contained therein) as of such specified
date). 
 4.2 Lender Approval. As a Closing Contingency to the Subsequent Closing Date, the Partnership shall have
obtained, on commercially reasonable terms, approval from the new Lender to make the new Loan to the Property Owner, or if the Property Owner cannot obtain the new Loan, then the approval from the existing Lender for the transfer of the Interests
contemplated by this Agreement, and any changes in property management and/or guarantors which may be required by the existing Lender or the existing Loan Documents in connection therewith (as applicable, the “Lender Approval”). The
“Lender Approval” shall be deemed to include (a) the satisfactory completion by the Lender of all diligence investigations, inspections and tests, and (b) the full negotiation and final approval for signature of the Lender
Approval Documents (as defined below) by the Partnership, the Contributed Entity, the Property Owner, the Contributor (if required), the Lender and, if applicable, the guarantor under the Loan Documents and any other entities required by the Lender
to be a party to the Lender Approval Documents. Promptly after the Effective Date, the Partnership will apply to the Lender for the Lender Approval, and the Partnership and the Contributor shall use their respective commercially reasonable efforts
to obtain the Lender Approval prior to the Subsequent Closing Date. The parties hereto agree to cooperate with and to take all reasonable action to facilitate the receipt of the Lender Approval, however, the Partnership shall be solely responsible
to pay to the Lender any and all Loan Costs, required in connection with the Lender Approval (other than the Contributor’s legal fees to review the Lender Approval Documents). The Partnership and the Contributor shall execute and deliver at the
Subsequent Closing the Loan Documents and any other such consent and approval documents and agreements required by Lender in connection with the Lender Approval, in form and content reasonably satisfactory to Partnership and the Contributor’s
Representative (the “Lender Approval Documents”). In the event that the Contributor or the Partnership fail to execute and deliver the Lender Approval Documents or the Lender fails to give the Lender Approval, either the Contributor
or the Partnership shall have the right to terminate this Agreement, whereupon all rights and obligations of the parties hereunder shall immediately terminate (other than those obligations that expressly survive termination). Promptly after the
Effective Date, the Partnership shall apply to the Lender for the Lender Approval and use good faith efforts to obtain the Lender Approval from the Lender prior to the Subsequent Closing Date; provided, however, so long as the Partnership complies
with its obligations under this Section 4.2, in no event shall Partnership have any liability for its failure to obtain the Lender Approval. 
 4.3 Contributor’s Performance. As a Closing Contingency to the Initial Closing and the Subsequent Closing, as applicable, the Contributor, the Contributed Entity, and the Property Owner shall
have performed all covenants, agreements and delivered all documents required by this Agreement to be performed or delivered by them on or before the Initial Closing Date and the Subsequent Closing Date, as applicable. 

  
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 4.4 Title Policies. As a Closing Contingency to the Initial Closing, as of the
Initial Closing Date, the Title Company shall be unconditionally obligated and prepared, subject only to payment of the applicable premium and other related charges, to issue the title policies and/or endorsements on the Subsequent Closing Date
pursuant to the Title Commitments containing no exceptions to title other than Permitted Encumbrances and any Additional Exceptions approved by the Partnership pursuant to Section 2.2(d). 

4.5 Permits; Consents. As a Closing Contingency to the Initial Closing , all consents or approvals of third parties or of any
Governmental Authorities as are necessary for the transfer of the Interests and the ownership and operation of the Property by and/or on behalf of the Partnership or its successor or assignee shall have been received, on or before the Initial
Closing Date. 
 4.6 No Bankruptcy or Court Order. As a Closing Contingency to the Subsequent Closing , no Act of
Bankruptcy on the part of any Contributor, the Property Owner or the Contributed Entity shall have occurred and remain outstanding as of the Subsequent Closing Date and no Governmental Authority shall have enacted, issued, promulgated, enforced or
entered any Law or Court Order (whether temporary, preliminary or permanent) which is then in effect and has the effect of making the consummation of the transaction contemplated by this Agreement illegal or otherwise restricting, preventing or
prohibiting consummation of the transactions contemplated by this Agreement. 
 4.7 Closing Under Cash Investment
Agreement. As a Closing Contingency to the Initial Closing , the transactions contemplated by the Cash Investment Agreement shall have been consummated prior to or simultaneously with the Initial Closing, and additionally, the “Initial
Closing” under the Master Contribution Agreement shall have occurred prior to or simultaneously with the Initial Closing under this Agreement. 
 4.8 No Material Adverse Change. As a Closing Contingency to the Subsequent Closing, between the Effective Date and the Subsequent Closing Date, there shall have been no Material Adverse Change
which is not cured within thirty (30) days’ notice from the Partnership to the Contributor (but in any event prior to the Subsequent Closing Date). 
 4.9 Closing Deliveries. As a Closing Contingency to the Initial Closing and the Subsequent Closing, as applicable, the Contributor shall have delivered, and shall have caused the Contributed
Entity, the Property Manager and the Existing Manager to deliver, all of the documents and instruments required pursuant to Section 3.3 at the Initial Closing and Section 3.5 at the Subsequent Closing. 

In the event that Closing Contingencies set forth in this Section 4 have not been satisfied on or before the Outside Closing
Date (other than by reason of the Partnership’s failure to comply in all material respects with its obligations under this Agreement), the Partnership shall have the right to terminate this Agreement by written notice to the Contributor,
whereupon the Contributor and the Partnership shall have no further obligations or liabilities hereunder, except for those obligations or liabilities which expressly survive the termination of this Agreement. 

  
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	 	SECTION 5.	CONDITIONS TO CONTRIBUTORS’ OBLIGATION TO CLOSE. 

 The obligation of the Contributor to consummate the transactions contemplated by this Agreement is subject to the satisfaction or written waiver of the following conditions precedent on and as of either
the Initial Closing Date or the Subsequent Closing Date as indicated below: 
 5.1 Representations and Warranties True.
As a condition precedent to the Initial Closing, the representations and warranties made by Partnership pursuant to Section 7 shall be true and correct in all material respects (without duplication as to materiality qualifications
contained therein) on the Initial Closing Date. 
 5.2 Lender Approval. As a condition precedent to the Subsequent
Closing, the Lender Approval shall have been obtained. 
 5.3 Partnership’s Performance. As a condition precedent to
the Initial Closing and the Subsequent Closing, as applicable, the Partnership shall have performed all covenants, agreements and delivered all documents required by this Agreement to be performed or delivered by it on or before the Initial Closing
Date and the Subsequent Closing Date. 
 5.4 No Bankruptcy or Court Order. As a condition precedent to the Initial
Closing and the Subsequent Closing, as applicable, no Act of Bankruptcy on the part of the Partnership shall have occurred and remain outstanding as of the Subsequent Closing Date, and no Governmental Authority shall have enacted, issued,
promulgated, enforced or entered any Law or Court Order (whether temporary, preliminary or permanent) which is then in effect and has the effect of making the consummation of the transaction contemplated by this Agreement illegal or otherwise
restricting, preventing or prohibiting consummation of the transactions contemplated by this Agreement. 
 5.5 Closing
Deliveries. As a condition precedent to the Initial Closing and the Subsequent Closing, as applicable, the Partnership shall have delivered all documents and instruments required pursuant to Section 3.4 at the Initial Closing Date
and Section 3.6 at the Subsequent Closing Date. 
 If the conditions to the Contributor’s obligation to close
set forth in this Section 5 have not been satisfied as of the Outside Closing Date (other than by reason of any Contributor’s, the Contributed Entity’s, the Property Owner’s or Existing Manager’s failure to comply in
all material respects with any of its obligations under this Agreement), the Contributor shall have the right to terminate this Agreement by notifying the Partnership in writing whereupon the Contributor and the Partnership shall have no further
obligations or liabilities hereunder except for those obligations or liabilities which expressly survive the termination of this Agreement. 

  
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	 	SECTION 6.	REPRESENTATIONS AND WARRANTIES OF CONTRIBUTOR; PARTNERSHIP’S INDEPENDENT INVESTIGATION; ACCESS 

6.1 Representation and Warranties of Contributor. To induce ATA and the Partnership to enter into this Agreement, the Contributor,
jointly and severally, represent and warrant to ATA and Partnership that each of the following are true, correct and complete as of the Effective Date and will be true, correct, and complete as of the Initial Closing Date: 

(a) Organization and Authorization; No Conflicts. The Contributor, the Property Owner, the Contributed Entity and their
Subsidiaries are entities duly organized, validly existing and in good standing in the state of their organization and are duly qualified to do business as a foreign entity in each jurisdiction where the failure to so qualify materially adversely
affects the Contributed Entity’s ability to conduct business in the Ordinary Course. The Contributor, the Property Owner, each Contributed Entity and their Subsidiaries has all requisite power and authority to own, lease and operate the
properties now owned, leased or operated by it and to carry on its business as presently conducted. The Contributor, Property Owner, Contributed Entity and their Subsidiaries, to the extent applicable, has taken all necessary action to authorize the
execution, delivery and performance of this Agreement and any other agreement, certificate, instrument or writing delivered in connection with this Agreement or the transactions contemplated hereby (collectively, the “Transaction
Documents”), and upon the execution and delivery of any Transaction Document to be delivered by any Contributor, the Property Owner or any Contributed Entity, to the extent applicable, such Transaction Document shall constitute the valid
and binding obligation and agreement of such Contributor, the Property Owner or such Contributed Entity, to the extent applicable, enforceable against such Contributor, the Property Owner or such Contributed Entity, to the extent applicable, in
accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general application affecting the rights and remedies of creditors and general principles of equity. The
person or persons executing and delivering this Agreement or any other Transaction Document is and shall have been prior to the Initial Closing Date, duly authorized to execute and deliver such documents on behalf of such Contributor or the
Contributed Entity, to the extent applicable. The Contributor has made available to the Partnership true and complete copies of the Organizational Documents of the Contributor (other than the Contributor that is a natural person) each Contributed
Entity and the Property Owner, as amended and as in effect on the date of this Agreement. None of the Contributor, the Contributed Entity, the Property Owner or their Subsidiaries is in default under or in violation of any provision of its
Organizational Documents, to the extent applicable. 
 (b) Capitalization; Title to Interests.
Schedule 6.1(b) sets forth the authorized ownership interests of the Contributed Entity and indicates the ownership of all of the issued and outstanding ownership interests of the Contributed Entity. Except for this Agreement and the
transactions contemplated herein, there are no agreements, arrangements, options, warrants, calls, rights (including preemptive rights) or commitments of any character relating to the issuance, sale, contribution or redemption of any ownership
interests of the Contributed Entity. All of the outstanding ownership interests of the Contributed Entity are validly issued, fully paid and nonassessable. All of the issued and outstanding ownership interests of the Contributed Entity are owned as
set forth in Schedule 6.1(b), in each case free from all Liens. 

  
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Upon delivery to the Partnership on the Subsequent Closing Date of the Interests as contemplated by this Agreement, the Contributor will thereby transfer to the Partnership good and marketable
title to the Interests, free and clear of all Liens. 
 (c) Absence of Defaults and Conflicts. Neither the execution and
delivery of this Agreement or any Transaction Document by any Contributor, any Contributed Entity or the Property Owner, to the extent applicable, or the consummation of any of the transactions contemplated hereby or thereby, nor compliance with or
fulfillment of the terms, conditions and provisions hereof or thereof will (i) conflict with, result in a breach of the terms, conditions or provisions of, or constitute a default, an event of default or an event creating rights of
acceleration, termination or cancellation or a loss of rights under, or result in the creation or imposition of any Lien upon any of the Interests or the Property of any Contributor, any Contributed Entity, its Subsidiaries or the Property Owner,
under (A) any of their respective Organizational Documents (to the extent applicable), (B) any contract to which any of them is a party, (C) any Permits to which any of them is a party or the Interests or the Property of any
Contributor, any Contributed Entity, its Subsidiaries or the Property Owner are subject or by which any Contributor, any Contributed Entity, its Subsidiaries or the Property Owner is bound, (D) any Court Order to which any Contributor, the
Contributed Entity, its Subsidiaries or the Property Owner is a party or any of the Interests are subject or by which any Contributor, the Contributed Entity, its Subsidiaries or the Property Owner is bound, or (E) any Laws affecting any
Contributor, any Contributed Entity, its Subsidiaries or the Property Owner, the Interests or the Property of any Contributor, any Contributed Entity or the Property Owner; or (ii) require the approval, consent, authorization or act of, or the
making by any Contributor, any Contributed Entity, its Subsidiaries or the Property Owner of any declaration, filing or registration with, any Person. 
 (d) Subsidiaries and Investments. Except as listed on Schedule 6.1(d) attached hereto, neither the Contributed Entity nor the Property Owner has any Subsidiaries nor do any of them have any
investment in any Person. 
 (e) Absence of Undisclosed Liabilities. None of the Property Owner, the Contributed Entity
or their Subsidiaries has any liabilities, whether currently due, accrued, absolute, contingent, unliquidated or otherwise, whether or not known, whether due or to become due and regardless of when asserted, other than the following: (i) the
loan that will be refinanced and replaced at the Subsequent Closing by the Loan, (ii) liabilities fully and adequately reflected or reserved against in the balance sheet included in the Interim Financial Statements (the “Latest Balance
Sheet”), and (iii) liabilities incurred in the Ordinary Course since the date of the Latest Balance Sheet, none of which are material and none of which constitute a breach of any other representation or warranty made to the Partnership
in this Agreement or any other Transaction Document. 
 (f) Taxes. 

(i)(A) Each Contributed Entity, the Property Owner and each of their Subsidiaries have complied in all material respects with all Laws
relating to Taxes, (B) each Tax Return required to be filed by, or on behalf of, each Contributed Entity, the Property Owner and each of their Subsidiaries have been timely filed in accordance with applicable Laws

  
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(taking into account applicable extensions), (C) all such Tax Returns are true, correct and complete in all material respects, and (D) all Taxes due and payable with respect to each
such Tax Return (whether or not shown as due on a Tax Return), or otherwise due and payable by, or on behalf of each Contributed Entity, the Property Owner and each of their Subsidiaries, have been timely paid. 

(ii) The Contributor has provided to the Partnership true, correct and complete copies of all Tax Returns filed by each Contributed
Entity, the Property Owner and each of their Subsidiaries in the last three (3) years. The Contributor has provided to the Partnership true, correct, and complete copies of all notices of deficiencies, final partnership administrative
adjustments, notices of proposed adjustments, notices of assessments, revenue agent reports, closing agreements, settlement agreements, information document requests, protests, petitions and any other similar documents, notices, and correspondence,
in each case, that each Contributed Entity, the Property Owner and each of their Subsidiaries (or any of their Representatives) has received from, sent to, or entered into with the IRS or other Governmental Authority in the last three (3) years
or that relates to any Taxes or Tax Return which is not closed by the applicable statute of limitations. No claim has been made by any Governmental Authority in the last three (3) years that any Contributed Entity, the Property Owner or any of
its Subsidiaries has not properly reported and/or paid Taxes or filed Tax Returns in a jurisdiction in which each Contributed Entity or any of its Subsidiaries does not file a Tax Return. 

(iii) There are no Liens for Taxes on the Property or any property of any Contributed Entity, the Property Owner or any of their
Subsidiaries, other than Permitted Encumbrances. 
 (iv) No federal, state, local or foreign Tax audits or other Proceedings
are presently in progress or pending or, to the Contributor’s knowledge, threatened with regard to any Taxes or Tax Returns of any Contributed Entity, the Property Owner or any of their Subsidiaries. No private letter ruling, technical advice
memorandum, application for a change of any method of accounting, or other similar requests made by, or with respect to the Contributed Entity, the Property Owner or any of their Subsidiaries, are presently pending with any Governmental Authority.

 (v) Neither any Contributed Entity, the Property Owner nor any of their Subsidiaries has engaged in any transaction that
could affect its income Tax liability for any taxable year not closed by the statute of limitations which is a “listed transaction” within the meaning of Treasury Regulation section 301.6011-4 (irrespective of the effective date).

 (vi) Each Contributed Entity, the Property Owner and each of their Subsidiaries has since its formation been treated for
federal income tax purposes as either (i) a “disregarded entity” as defined in Treasury Regulations Section 301.7701-3 or (ii) a partnership, and not an association or “publicly traded partnership” taxable as a
corporation. 
 (vii) There are no outstanding waivers or agreements extending the statute of limitations for any period with
respect to any Tax to which any Contributed Entity, the Property Owner or any of their Subsidiaries is subject and no requests for any such waivers or agreements have been made of the Contributed Entity or any of its Subsidiaries. 

  
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 (viii) Neither any Contributed Entity, the Property Owner nor any of their Subsidiaries is
a party to, nor is bound by, nor has any obligation under, any Tax sharing, Tax protection, Tax reimbursement or similar agreement or arrangement. 
 (ix) Neither any Contributed Entity, the Property Owner nor any of their Subsidiaries has made an election pursuant to Code section 108(i) (or any similar provision of state or local tax law). 

(x) The Loan is a “qualified liability” within the meaning of Treasury Regulations Section 1.707-5(a)(6). 

(g) Absence of Certain Changes or Events. Since the date of the Latest Balance Sheet: (i) each Contributed Entity, the
Property Owner and their Subsidiaries have been operating only in the Ordinary Course; (ii) each Contributed Entity, the Property Owner and their Subsidiaries have not (A) sold, leased or disposed of, or subjected to any Lien, any of its
tangible or intangible assets, other than the sale, lease or disposition in the Ordinary Course of inventory, FF&E, miscellaneous items of machinery and equipment and assets no longer necessary to the operation of the Property or which have been
replaced by similar items, or (B) canceled or released any material debt or claim held by it other than in the Ordinary Course; and (iii) neither the Contributed Entity, the Property Owner nor any of their Subsidiaries has instituted,
settled, agreed to settle any litigation or Proceeding before any Governmental Authority other than in the Ordinary Course consistent with past practices, but not in any case involving amounts in excess of Fifty Thousand Dollars ($50,000.00).

 (h) Real Property. 
 (i) The Property Owner owns good and marketable fee simple title to the Real Property and good title to the remainder of the Property, free and clear of all Liens except Permitted Encumbrances. Except for
the Real Property, the Property Owner does not own an interest in any real property or hold a leasehold interest in any real property. During the Contributor’s period of ownership thereof, the Property Owner has not owned or leased any real
property other than the Real Property. 
 (ii) The Property Owner has complied and is in compliance with, and the Property is
in compliance with, in all material respects, all applicable Laws. Neither the Property Owner nor the Contributor has received from any Governmental Authority written notice (and neither the Property Owner nor the Contributor has actual knowledge)
of any violation of any Law (including, without limitation, any zoning, building, fire or health code) applicable to the Property, or any part thereof, that will not have been corrected prior to Initial Closing. 

(iii) The Rent Roll attached hereto as Exhibit B is true, correct and complete in all material respects as of the date set
forth on the Rent Roll. As of the Initial Closing and Subsequent Closing, the Rent Roll delivered at each such closing will be true, correct and complete. The copies of the Leases delivered or made available to the Partnership are true, correct and
complete copies and, to the Contributor’s actual knowledge, are in full force and effect, without default by any party and without any right of setoff, except as expressly 

  
 28 

 
provided by the terms of such Leases or as disclosed on the Rent Roll attached hereto. The copies of the Leases and other agreements with the Tenants under the Leases delivered or made available
to the Partnership pursuant to this Agreement constitute the entire agreements with such Tenants relating to the Real Property, have not been materially amended, modified or supplemented, except for such amendments, modifications and supplements
delivered to the Partnership, and there are no other leases or tenancy agreements affecting the Real Property. 
 (iv) The
Property Owner has not granted to any Person any options to purchase any Real Property (or any portion thereof) or any rights of first refusal to purchase any Real Property (or any portion thereof), and no Person (other than the Partnership) has a
conditional or unconditional right or option to purchase or to ground lease all or any portion of the Real Property, or the Property Owner’s interest therein. 
 (v) There is not, as of the Effective Date, any pending, proposed, or, to the Contributor’s knowledge, threatened (A) change in or Proceeding for the rezoning or amendment to the existing zoning
of the Real Property or any portion thereof, (B) variance, conditional use permit, special use permit, special exception or other land use permits with respect to the Real Property or any portions thereof, (C) road widening or realignment
of any streets or highways adjacent to the Property, or (D) taking or proposed taking of any portion of a Real Property by eminent domain, including without limitation any parking spaces, entrances, or areas where entrance signs are located.

 (vi) The Property is not currently benefited by any special tax abatement or categorization. None of the Contributor, the
Contributed Entity or the Property Owner has commenced any Proceedings which are pending for the reduction of the assessed valuation of any Property. None of the Contributor, the Contributed Entity, or Property Owner or any of their Subsidiaries or
Representatives has intentionally supplied any false or misleading information or failed to supply any pertinent information to any Governmental Authority related to the assessed valuation or any Property or any real property Tax. 

(vii) The Real Property has rights of access to public ways and is served by electric, water, sewer, sanitary sewer and storm drain
facilities adequate to service the Real Property. 
 (viii) No more than one percent (1%) of the apartment units in the
Property are “off-line” (meaning they cannot be made “rent-ready” with routine maintenance) and at least eighty percent (80%) of the vacant units in the Contributed Properties are in so-called “rent-ready”
condition. 
 (i) FF&E. The Property Owner has, and as of the Subsequent Closing Date will have, good and marketable
title to the FF&E, except for any leased or licensed FF&E set forth on Schedule 6.1(i) attached hereto and by this reference made a part hereof, and such FF&E is (or will be at Subsequent Closing) free and clear of all Liens.
There are no items owned or leased by the Existing Manager and used at the Property which would otherwise constitute FF&E. 

  
 29 

 (j) Contracts. Except with respect to any Required Capital Improvements which are
not completed as of the Initial Closing Date, the only Contracts and amendments thereto that will be in effect on the Initial Closing Date that are not terminable without cause or penalty within sixty (60) days with respect to the Property
Owner or the Property (the “Non-Terminable Contracts”) are as set forth in Schedule 6.1(j) (the “Schedule of Non-Terminable Contracts”). To the Contributor’s knowledge, the Property Owner has
performed in all material respects all of its obligations under each Contract to which the Property Owner is a party or is subject and, to the Contributor’s knowledge, no fact or circumstance has occurred, which by itself or with the passage of
time or the giving of notice or both would constitute a default by the Property Owner under any such Contract. Further, to the Contributor’s knowledge, all other parties to such Contracts have performed all of their obligations thereunder in
all material respects and are not in default thereunder. True, complete and correct copies of the Contracts have been delivered to the Partnership. To the Contributor’s actual knowledge, the Contracts are in full force and effect, without
material default by any party and without any claims made for the right of setoff, except as expressly provided by the terms of such Contracts or as disclosed to the Partnership in writing at the time of such delivery. The Contracts constitute the
entire agreements with such vendors relating to the Property, have not been materially amended, modified or supplemented, except for such amendments, modifications and supplements as have been delivered to the Partnership, and there are no other
agreements with any third parties (excluding, however, the Leases and Permitted Encumbrances) affecting the Property which will survive the Initial Closing. 
 (k) No Consents. Except for matters relating to the satisfaction of the Closing Contingencies, neither the execution of this Agreement or any Transaction Document by the Contributor nor the
consummation of any of the transactions contemplated hereby or thereby, nor compliance with or fulfillment of the terms, conditions and provisions hereof or thereof, will require the approval, consent, authorization or act of, or the making by the
Contributor of any declaration, filing or registration with any Person. 
 (l) Litigation. Except as disclosed in
Schedule 6.1(l), there is no Proceeding pending or, to the Contributor’s knowledge, threatened against or relating to any Contributor, any Contributed Entity, the Property Owner, their Subsidiaries, the Existing Manager, or any of
their respective assets, including but not limited to the Property, or with respect to Existing Manager, relating in any manner to the Property, or any of the officers, directors, managers or employees (in their capacities as such) of any of the
foregoing Persons. Except as disclosed in Schedule 6.1(l), none of the Contributor, the Contributed Entity, the Property Owner, their Subsidiaries, or the Existing Manager is subject to any Court Order, or with respect to the Existing
Manager, any Court Order relating in any manner to the Property. To the Contributor’s knowledge, the insurance coverages in the Property Owner’s insurance policies are adequate in character and amount to pay all liabilities relating to the
matters required to be described on Schedule 6.1(l). There is no Proceeding pending or, to the Contributor’s knowledge, threatened against any Contributor, any Contributed Entity, the Property Owner, their Subsidiaries,
(A) that questions the validity of this Agreement or any action taken or to be taken by any Contributor or Contributed Entity in connection with, or which seek to enjoin or obtain monetary damages in respect of, this Agreement or (B) that,
individually and in the aggregate, would reasonably be expected to adversely affect in any material respect the ability of any Contributor, any Contributed Entity or the Property Owner to perform its obligations under and consummate the transactions
contemplated by this Agreement. 

  
 30 

 (m) FIRPTA. No Contributor is a “foreign person” within the meaning of
Code Section 1445(f)(3), and the Contributor shall certify to that effect and certify its taxpayer identification number at the Initial Closing pursuant to Code Section 1445(b)(2). 

(n) Environmental Matters. The Contributor has made available to the Partnership copies of all environmental reports or studies
and indoor air quality reports prepared by third party consultants relating to the Property that are in the possession or control of the Contributor, any Contributed Entity, the Property Owner or their Subsidiaries. To the Contributor’s
knowledge, and except for any matters which are disclosed in such reports and studies, no Hazardous Materials exist at the Property and the Property is in compliance with all Hazardous Materials Laws. Since the date the Contributor has owned any
ownership interest in the Contributed Entity, none of the Contributor, the Contributed Entity, the Property Owner, their Subsidiaries or the Existing Manager has received any written notice from any Governmental Authority of any pending nor, to the
Contributor’s knowledge, threatened action or Proceeding arising out of the environmental condition of the Property, Hazardous Materials located on the Property, or any alleged violation of any Hazardous Materials Laws. 

(o) Employees. Neither the Contributed Entity, the Property Owner nor any of their Subsidiaries has employees. 

(p) Construction Contracts; Mechanics’ Liens. At the Initial Closing, except with respect to any Required Capital
Improvements which have not been completed, there will be no outstanding Contracts made by the Contributor, the Contributed Entity, the Property Owner, their Subsidiaries or Existing Manager, for the construction or repair of any Improvements
relating to the Real Property which have not been fully paid for or will be paid in the Ordinary Course. Prior to Initial Closing, the Property Owner shall discharge and have released of record or bonded all mechanics’ or materialmen’s
liens, if any, arising from any labor or materials furnished to the Real Property prior to the Initial Closing to the extent any such Lien is not insured over by the Title Company or bonded over pursuant to applicable Law. 

(q) Existing Loan Documents. The existing Loan Documents described in Exhibit C that encumber the Property constitute all
of the material loan documents and related instruments in effect with respect to the existing Loan and have not been modified except as set forth in Exhibit C. None of the Contributor, the Contributed Entities, the Property Owner, their
Subsidiaries or the Existing Manager, has received written notice of default under the existing loan being refinanced and replaced with the Loan and, to the Contributor’s knowledge, there is no state of facts that, with the giving of notice or
passage of time or both, would give rise to a default under the existing Loan. Other than the Indebtedness represented by the existing Loan, neither the Property, any Contributed Entity, the Property Owner nor their Subsidiaries is encumbered by any
Indebtedness. The Property Owner has timely paid all amounts and performed all monetary obligations required of it by the existing Loan. As of             , 201    , the
amount of escrows or reserves held by the Property Owner for maintenance and capital repairs to the Property is $            and the amount held for such purposes by the existing Lender
under the existing Loan is $            . 

  
 31 

 (r) Special Assessments. None of the Contributors, the Contributed Entity, the
Property Owner, their Subsidiaries or the Existing Manager has received any notice, or has any knowledge, of any existing or pending special assessments affecting the Property by any Governmental Authority, water or sewer authority, drainage
district or any other special taxing district or other entity, other than as disclosed herein and has received no notice, and has no knowledge, of any assessments that may be levied after the Initial Closing by any Government Authority. 

(s) Affiliate Transactions. All Contracts and other intercompany obligations between the Property Owner, on the one hand, and any
Contributor, the Contributed Entity, their Subsidiaries or any of the Contributor’s other Affiliates, on the other hand, will be terminated satisfied, repaid, eliminated or cancelled at or prior to the Initial Closing. Except for the
Organizational Documents of the Property Owner, there are no written Contracts between the Property Owner and any Contributor, the Contributed Entity, their Subsidiaries or any of the Contributor’s other Affiliates. 

(t) Patriot Act. 
 (i) The Contributor represents and warrants that the Contributor, any Contributed Entity, the Property Owner, nor any of their Subsidiaries, constituents or affiliates, are in violation of any laws
relating to terrorism or money laundering, including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit,
or Support Terrorism (the “Executive Order”) and/or the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public La 107-56, the “Patriot
Act”). 
 (ii) The Contributor represents and warrants that neither the Contributor, the Contributed Entity, the
Property Owner nor any of their Subsidiaries, constituents or affiliates, is a “Prohibited Person” which is defined as follows: 
 1) a person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; 
 2) a person or entity owned or controlled by, or acting for or on behalf of, any person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order;

 3) a person or entity with whom the Partnership or its successor or assignee is prohibited from dealing or otherwise
engaging in any transaction by any terrorism or money laundering laws or regulations, including the Executive Order and the Patriot Act; 
 4) a person or entity who commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive Order; 

5) a person or entity that is named as a “specially designated national and blocked person” on the most current list published
by the U.S. Treasury 

  
 32 

 
Department Office of Foreign Assets Control at its official website, http://www.treas.gov/ofac/tllsdn.pdf, or at any replacement website or other replacement official publication of such list;
and 
 6) a person or entity who is affiliated with a person or entity listed above. 

(iii) The Contributor represents and warrants that neither the Contributor, the Contributed Entity, the Property Owner, Existing Manager
nor any of their Subsidiaries, constituents or affiliates, have or will: (i) conduct any business or engage in any transaction or dealing with any Prohibited Person, including the making or receiving any contribution of funds, goods or services
to or for the benefit of any Prohibited Person, (ii) deal in or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to the Executive Order; or (iii) engage in or conspire to engage in any
transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in the Executive Order or the Patriot Act. 

(u) NO TAX REPRESENTATIONS. THE CONTRIBUTOR REPRESENTS AND WARRANTS THAT IT IS NOT RELYING UPON ANY ADVICE OR ANY INFORMATION OR
MATERIAL FURNISHED BY THE PARTNERSHIP OR ITS REPRESENTATIVES, WHETHER ORAL OR WRITTEN, EXPRESSED OR IMPLIED, OF ANY NATURE WHATSOEVER, REGARDING ANY TAX MATTERS. 
 (v) Investment Representations. The Contributor that receives OP Units pursuant to this Agreement hereby represents and warrants to ATA and the Partnership that the following are true and correct
on the date of this Agreement and shall be true and correct as of the Initial Closing Date and the Subsequent Closing Date. 

(i) The Contributor acknowledges that it has received, read, and fully understands the Investor Package. The Contributor acknowledges
that it is an Accredited Investor and is basing its decision to invest in the OP Units on the Investor Package and the Contributor has relied only on the information contained in said materials and has not relied upon any representations made by any
other person. The Contributor recognizes that an investment in the OP Units involves substantial risk and the Contributor is fully cognizant of and understand all of the risk factors related to such securities. 

(ii) The Contributor can bear and is willing to accept the economic risk of losing its entire investment in the OP Units. The
Contributor has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the investment in such securities. 
 (iii) The Contributor acknowledges that the offer and sale of the OP Units has not been accompanied by the publication of any public advertisement or by any general solicitation. 

(iv) All information that the Contributor has provided to the Partnership concerning its suitability to invest in the OP Units is
complete, accurate, and correct. The Contributor hereby agrees to notify Partnership immediately of any material change in any such information occurring prior to the Subsequent Closing Date, including any information about changes concerning its
net worth and financial position. 

  
 33 

 (v) The Contributor has had the opportunity to ask questions of, and receive answers from,
the Partnership, ATA and the officers of ATA concerning the terms and conditions of the OP Units being offered and sold pursuant to this Agreement and the Investor Package and to obtain any additional information deemed necessary to verify the
accuracy of the information contained in the Investor Package. The Contributor has been provided with all materials and information requested by the Contributor or others representing the Contributor, including any information requested to verify
any information furnished the Contributor. 
 (vi) The Contributor is receiving the OP Units for the Contributor’s own
account and for investment purposes only and has no present intention, agreement, or arrangement for the distribution, transfer, assignment, resale, or subdivision of such securities. The Contributor understands that, due to the restrictions as to
transferability contained in the Partnership Agreement, the Charter (including the Articles Supplement) and the Governance Agreement, duly executed duly executed by ATA and by the parties thereto, and the lack of any market existing or to exist for
the OP Units, the Contributor’s investment in the OP Units will be highly illiquid and may have to be held indefinitely. 

(vii) The Contributor understands that there may be restrictions on the transfer, resale, assignment, or subdivision of the OP Units
imposed by applicable federal and state securities laws. The Contributor is fully aware that the OP Units have not been registered with the SEC in reliance on the exemptions specified in Regulation D under the Securities Act of 1933, as
amended, which reliance is based in part upon the Contributor’s representations set forth herein. The Contributor understands that the OP Units have not been registered under applicable state securities laws and are being offered and sold
pursuant to the exemptions specified in said laws, and unless they are registered, they may not be re-offered for sale or resold except in a transaction or as a security exempt under those laws. 

(viii) The Contributor understands that none of the Partnership, ATA or their owners, officers, employees, directors, general partners
or Affiliates, or advisors represent such Contributor in any way in connection with the Contribution of the OP Units. The Contributor also understands that legal counsel to the Partnership, ATA and their Affiliates does not represent, and shall not
be deemed under the applicable codes of professional responsibility to have represented or to be representing, any Contributor. 
 (ix) THE CONTRIBUTOR UNDERSTANDS THAT THE OP UNITS ISSUABLE TO THE CONTRIBUTOR PURSUANT TO THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF
ANY STATES AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE OP UNITS ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE OP UNITS HAVE NOT BEEN 

  
 34 

 
APPROVED OR DISAPPROVED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR
ENDORSED THE MERITS OF AN INVESTMENT IN THE OP UNITS OR THE ACCURACY OR ADEQUACY OF THE INVESTOR PACKAGE. THE CONTRIBUTOR UNDERSTANDS THAT ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL. 

The representations and warranties made in this Agreement by the Contributor in Section 6.1 are made as of the Effective Date
and, unless specified as being made as of the Effective Date, shall be deemed remade by the Contributor as of the Initial Closing Date and again as of the Subsequent Closing Date, with the same force and effect as if made on, and as of, the Initial
Closing Date and the Subsequent Closing Date, respectively. 
 6.2 Due Diligence Materials. Within two (2) calendar
days after the Effective Date, the Contributor shall, to the extent not previously provided or made available on a secure website for inspection by the Partnership or its Representatives, deliver to the Partnership, or otherwise make continuously
available for inspection, all of the documents and information listed on Schedule 6.2 attached hereto (collectively, the “Due Diligence Materials”) to the extent they exist and are in the Contributor’s possession or
control. From and after the Contributor’s delivery of the Due Diligence Materials to the Partnership, the Contributor shall within two (2) Business Days make available to the Partnership copies of any documentation or information which
comes in the Contributor’s possession or control which supplements the Due Diligence Materials. The Contributor shall cooperate with the Partnership and provide or make reasonably available to its executives, managers, agents and all books,
records and other items reasonably requested by the Partnership relating to the operations of the Property. 
 6.3
Access. The Contributor hereby grants to the Partnership and each of its employees, agents, consultants and contractors, subject to the rights of Tenants under the Leases, the right and permission from and after the date hereof to enter upon
the Property, or any part thereof, at reasonable times, for the purpose of completing its inspections and studies permitted hereunder; provided, however, the Partnership shall provide reasonable advance written notice to the Contributor’s
Representative prior to entry upon the Property so that a Representative of the Contributor may have the opportunity to be present during any inspections or studies conducted thereon and shall not unreasonably interfere with the use, occupancy or
operation of the Property. The Partnership shall not perform any intrusive testing of the Property without the prior written consent of the Contributor’s Representative, which consent may be given or withheld in the Contributor’s
Representative’s sole discretion. Specifically, the Partnership shall have the option to obtain, at its sole cost and expense, any such environmental reports as the Partnership and the lender under the Loan may desire, or updates to any such
existing reports, for the Property, and to obtain and/or undertake, at its sole cost and expense, any other studies, investigations, evaluations, assessments, or other reports relating to the Property or any aspects thereof. The Partnership shall
indemnify, defend and hold the Contributor harmless from any damage to the Property caused by the Partnership’s conduct of such inspection activities. Upon the completion of any inspection or test, the Partnership shall promptly restore the
Property substantially to their condition prior to such inspection or test. The Partnership shall keep the Property free and clear of any liens and will indemnify, protect, defend, and hold the Contributor, the Contributed Entity, the Property
Owner, their Subsidiaries and the Existing 

  
 35 

 
Manager, their respective officers, employees, and agents harmless from and against all claims (including any claim for damage to property or injury to or death of any persons), liabilities,
obligations, liens or encumbrances, losses, damages, costs or expenses which directly result from entry onto the Property by the Partnership or the Partnership’s Representatives. This indemnity shall survive the Subsequent Closing or
termination of this Agreement for six (6) months. 
  

	 	SECTION 7.	REPRESENTATIONS AND WARRANTIES OF PARTNERSHIP AND ATA. 

 To induce the Contributor to enter into this Agreement, the Partnership and ATA, as applicable, represent and warrant to the Contributor as follows: 

7.1 Organization and Authorization. The Partnership is a limited partnership duly formed and validly existing in the state of its
formation. ATA is a corporation duly incorporated and validly existing in the state of its incorporation. The Partnership and ATA have as taken all necessary action to authorize the execution, delivery and performance of this Agreement and any other
Transaction Document, and upon the execution and delivery of any Transaction Document to be delivered by the Partnership and ATA, such Transaction Document shall constitute the valid and binding obligation and agreement of Partnership and ATA
enforceable against Partnership and ATA in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general application affecting the rights and remedies of creditors
and general principles of equity. The person or persons executing and delivering this Agreement or any other Transaction Document is and shall have been prior to the Initial Closing Date, duly authorized to execute and deliver such documents on
behalf of the Partnership and ATA. ATA discloses to the Contributor that on or before the Initial Closing, (a) ATA expects to (i) adopt and effect the Articles Supplement and amend its Charter and bylaws s contemplated by the Master
Contribution Agreement, and (ii) amend the dividend reinvestment plan of ATA to adjust the share price to $8.15 per share, and (b) the Partnership expects to adopt and effect an amendment to the Partnership Agreement in the form attached
hereto as Exhibit K and amend its partnership certificate to effect the name change. 
 7.2 No Consents. Except
for matters relating to the satisfaction of the Closing Contingencies, neither the execution of this Agreement or any Transaction Document by the Partnership nor the consummation of any of the transactions contemplated hereby or thereby, nor
compliance with or fulfillment of the terms, conditions and provisions hereof or thereof, will require the approval, consent, authorization or act of, or the making by the Partnership of any declaration, filing or registration with any Person.

 7.3 No Conflicting Agreements. Neither the execution of this Agreement or any Transaction Document by the Partnership
nor the consummation of any of the transactions contemplated hereby or thereby, nor compliance with or fulfillment of the terms, conditions and provisions hereof or thereof, will conflict with or result in the breach of any of the terms of any
agreement or instrument to which the Partnership is a party. 
 7.4 Litigation. The Partnership has received no written
notice of and no investigation, action or Proceeding is pending and, to the Partnership’s knowledge, no action or 

  
 36 

 
Proceeding is threatened and the Partnership has received no notice of, and to the Partnership’s knowledge, no investigation looking toward such an action or proceeding has begun, which
questions the validity of this Agreement or any action taken or to be taken pursuant hereto. 
 7.5 Authorization of Issuance
of Securities. The OP Units to be issued to the Contributor under this Agreement have been or will be duly authorized for issuance and sale to them by the Partnership and ATA, as applicable, and, when issued and delivered by the Partnership,
pursuant to this Agreement, against payment of the Contribution Price set forth herein, will be validly issued and fully paid and non-assessable free and clear of any Lien. The OP Units conform to all statements relating thereto contained in the SEC
Reports and such description conforms to the rights set forth in the instruments defining the same. Any certificates representing the OP Units, if any, are in due and proper form; no holder of thereof will be subject to personal liability by reason
of being such a holder; and the issuance thereof is not subject to any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar rights of any securityholder of ATA or the Partnership. 

7.6 No Registration of Securities. Assuming the accuracy of the representations and warranties of the Contributor in
Section 6.1(v), it is not necessary in connection with the offer, sale and delivery of the OP Units to the Contributor in the manner contemplated by this Agreement to register such securities under the Securities Act. 

7.7 Integration. None of ATA, the Partnership or any of their Affiliates has, directly or indirectly, (a) sold, offered for
sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act) which is or will be integrated with the sale of the OP Units (or shares of ATA Common Stock issued in lieu thereof, if any) in a
manner that would require the registration of such securities under the Securities Act or (b) offered, solicited offers to buy or sold the OP Units (or shares of ATA Common Stock issued in lieu thereof, if any) by any form of general
solicitation or general advertising (as those terms are used in Rule 502(c) under the Securities Act) or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act. 

7.8 Financial. The Partnership has the requisite experience, and upon the closing of the transactions contemplated by the Master
Contribution Agreement and the Cash Investment Agreement the Partnership shall have the financial ability, to close on the transactions contemplated by this Agreement and the Lender Approval Documents. 

The representations and warranties made in this Agreement by the Partnership are made as of the Effective Date and shall be deemed remade
by the Partnership as of the Initial Closing Date and again as of the Subsequent Closing Date, with the same force and effect as if made on, and as of, such date. As used in this Agreement, the phrase “to the Partnership’s knowledge”
or words of similar import shall mean the actual knowledge of Stanley J. Olander, Jr. and Gus Remppies. 

  
 37 

	 	SECTION 8.	INTERIM OPERATION OF THE PROPERTY AND ADDITIONAL COVENANTS. 

 The Contributor hereby covenants, and, as applicable, the Partnership hereby covenants as follows: 
 8.1 Compliance with Laws and Permitted Encumbrances. From the Effective Date to the Subsequent Closing Date, the Contributor shall, and shall cause the Property Owner to comply in all material
respects with (i) all applicable Laws affecting the Property, (ii) all Leases and Contracts, and (iii) all terms, covenants and conditions of instruments of record affecting the Property including, without limitation, the Permitted
Encumbrances. 
 8.2 General Operation. The Existing Manager will continue to manage the Property during the period
between the Effective Date and the Subsequent Closing. Except as otherwise contemplated or permitted by this Agreement or approved by the Partnership in writing, from the Effective Date to the Subsequent Closing Date, the Contributor will, and will
cause the Property Owner and the Existing Manager to, (i) operate, maintain, repair, and lease the Property in accordance with applicable Law and in the Ordinary Course and consistent with such Person’s past practices, including, without
limitation, past practices regarding payment of trade payables or other liabilities, (ii) perform in all material respects all of landlords’ obligations under the Leases (other than Leases that are in the process of being terminated due to
a Tenant’s default thereunder), not apply any tenant’s security deposit unless the tenant is out of its premises, not grant any concessions or reductions in rent or otherwise modify any Lease or waive compliance with any provision thereof,
except in the Ordinary Course and consistent with current practice and Section 8.4 below, (iii) not dispose of or encumber all or any portion of the Property, except for dispositions or replacement of immaterial amounts of personal
property in the Ordinary Course, (iv) not grant any raises to or terminate employment of any employees, (v) keep and maintain all existing insurance policies covering the Property in continuous force and effect, (vi) make timely
payments of all principal and interest and reserve and escrow deposits required under the existing Loan Documents, and (vii) preserve the existence and good standing of Property Owner, the Contributed Entity and their Subsidiaries. Without
limiting the foregoing, the Contributor shall, and shall cause the Contributed Entity, the Property Owner, their Subsidiaries and the Existing Manager to, in the Ordinary Course, file all renewal applications for the applicable Permits on a timely
basis, enforce the Leases in all material respects and pay all costs and expenses of the Property which are the applicable Person’s responsibility to pay. Additionally, the Contributor agrees that it will, and will cause each Contributed
Entity, the Property Owner and their Subsidiaries to use its commercially reasonable efforts to prevent any Material Adverse Change. 
 8.3 Maintenance; Contracts. Subject to the requirements and obligations set forth in Section 8.8, between the Effective Date and the Subsequent Closing Date, the Contributor shall, and
shall cause the Property Owner to, maintain the Property in substantially the same manner as prior hereto pursuant to the Property Owner’s Ordinary Course, subject to reasonable wear and tear and further subject to the occurrence of any damage
or destruction to the Real Property by casualty or other causes or events beyond the control of such Person. The Contributor shall not permit the Property Owner to make any withdrawals from any capital reserve accounts in amounts in excess of
$10,000.00 without providing prior written notice to the 

  
 38 

 
Partnership. Between the Effective Date and the Subsequent Closing Date, the Contributor shall not permit the Property Owner to enter into any Contract with respect to the Property which will
survive the Subsequent Closing or will otherwise affect the use, operation or enjoyment of the Property after the Subsequent Closing, unless the Contributor first shall have obtained the Partnership’s prior written consent, which shall not be
unreasonably withheld, conditioned or delayed. 
 8.4 New Leases; Vacant Units. From the Effective Date to the Subsequent
Closing Date, the Contributor shall cause the Property Owner not to enter into any new Leases with respect to the Property without the Partnership’s prior written consent unless such new Leases are on the Property Owner’s standard form
residential lease, the rent and landlord concessions and incentives are consistent with the Property Owners’ current practices and current market conditions, and the Leases are otherwise entered into in the Ordinary Course of the Property
Owners’ business of leasing and operating the Property. 
 8.5 Audits of the Property and Operations. From the
Effective Date to the Subsequent Closing Date, the Contributor shall, and shall cause the Property Owner to, cooperate fully and in good faith, at no out-of-pocket cost to any such Person, with the Partnership’s audits of all financial
information and operations relating to the Property as necessary to comply with applicable underwriting policies and securities law and corporate governance policies applicable to ATA and its Affiliates. 

8.6 Financial Information. Commencing on execution of this Agreement until the Subsequent Closing, the Contributor shall, and
shall cause the Property Owner to, deliver to the Partnership (i) on a weekly basis, a report of leasing activity at the Property, and (ii) on a monthly basis, updated operating statements and Rent Rolls, and a copy of the standard monthly
income statement that is prepared by the Existing Manager. 
 8.7 Extraordinary Actions. The Contributor will not, and
will cause the Property Owner, the Contributed Entity and their Subsidiaries to not: (i) issue, sell, transfer, pledge, dispose of, encumber or permit any Lien on the Property or any membership interests, partnership interests or any other
securities, or securities convertible into or exchangeable for, or options, warrants, calls, commitments or rights of any kind to acquire, any membership interests, partnership interests or any other securities of the Property Owner, the Contributed
Entity and their Subsidiaries, (ii) purchase or redeem any membership interests, partnership interests or other securities of the Property Owner, the Contributed Entity or any of their Subsidiaries (iii) sell or transfer any of such
Person’s assets other than in the Ordinary Course, (iv) incur any material obligations or liabilities or enter into any material transaction other than in the Ordinary Course, or (v) amend the Property Owner’s, the Contributed
Entity’s, or any of their Subsidiaries’ Organizational Documents. 
 8.8 Capital Improvements. The Contributor
shall, or shall cause the Property Owner to, complete or diligently pursue the capital improvement, life safety and/or licensure related projects and items set forth on Schedule 8.8 (the “Required Capital Improvements”)
prior to the Subsequent Closing Date. If the Contributor, or the Property Owner, does not complete the Required Capital Improvements on or prior to the Subsequent Closing Date to the Partnership’s reasonable satisfaction in accordance with the
previous sentence, the Partnership’s 

  
 39 

 
sole remedy shall be a decrease in the Agreed Contribution Value in an amount equal to the Partnership’s reasonable estimate of the remaining cost to complete the Required Capital
Improvements, based upon the budgeted cost thereof as set forth on Schedule 8.8, and such amount shall be settled in accordance with the apportionments set forth in Section 9.1. 

8.9 Delivery and Use of Annual Financial Statements. At the Partnership’s request, at any time before or after the Subsequent
Closing, the Contributor shall provide to the Partnership’s and/or ATA’s designated independent auditor access to the books and records of the Contributor, the Contributed Entities, the Property Owner, their Subsidiaries and/or the
Property, the working papers of the independent auditors of any of the foregoing Persons and all related information regarding the period for which ATA is required to have any of the foregoing audited to enable ATA to comply with any financial
reporting requirements applicable to ATA, and the Contributor shall provide to such auditor a representation letter regarding such books and records in a customary form and otherwise reasonably acceptable to the Partnership and the Contributor.

 8.10 Exclusivity. From and after the date hereof, none of the Contributor, the Contributed Entities, the Property
Owner or any of their respective Subsidiaries, Representatives or anyone acting on behalf of any of them shall make any offers to, commence or continue any negotiations with, or enter into any written agreement with any other Person relating to the
sale of the Property or the Interests (other than the Partnership and its Representatives) unless this Agreement is terminated pursuant to and in accordance with the provisions of this Agreement. 

8.11 Tax Change Notices; Other Events. From and after the date hereof, the Contributor shall deliver to the Partnership copies of
any property tax assessments or notices or any written notice from any Government Authority of its intent to conduct a Tax audit or Proceeding with respect to the Contributed Entity, Property Owner or any of its Subsidiaries, and shall promptly
notify the Partnership of any (i) change in any condition with respect to the Real Property, (ii) notice of any violation issued in writing by any Governmental Authorities with respect to the Property, (iii) fire or other casualty
affecting the Property, or (iv) event or circumstance which makes any representation or warranty of the Contributor to the Partnership under this Agreement materially untrue or misleading, or any covenant of the Contributor under this Agreement
incapable or less likely of being performed. 
 8.12 Commercially Reasonable Efforts. The Contributor and the Partnership
shall each use commercially reasonable efforts to satisfy their respective Closing Contingencies set forth in this Agreement. Additionally, the parties hereto shall collaborate in good faith with respect to the preparation of any and all offering
memoranda, investor questionnaires, subscription materials, consent forms and other documents that are reasonably necessary or advisable in connection with the disclosure and consummation of the transactions contemplated by this Agreement.

 8.13 Admission to Partnership. ATA, as general partner of the Partnership, shall take all actions necessary in order
to cause the Contributor receiving OP Units to be admitted as limited partners of the Partnership on the Subsequent Closing Date but effective as of the Initial Closing Date. 

  
 40 

	 	SECTION 9.	APPORTIONMENTS; CLOSING COSTS. 

 9.1 Apportionments. The Partnership and the Contributor agree that, at and as of the date of the Initial Closing, all normal and customarily proratable items, including, without limitation, real
estate taxes, personal property taxes, utility bills (except as hereinafter provided), invoiced rents and other income, and operating contract payments shall be prorated with respect to the Property as of the date of the Initial Closing, with
Contributor being charged and credited for all of the same relating to the period up to the date of the Initial Closing and the Partnership being charged and credited for all of the same relating to the period on and after the date of the Initial
Closing. All apportionments hereunder shall be settled in OP Units or as otherwise agreed by the parties as set forth in the Settlement Statement to be delivered at the Subsequent Closing. 

(a) To the extent not covered by any tax escrows held by the Property Owner or the Lender, all real estate taxes, and items of income
and expense with respect to the Property shall be prorated between the Contributor and the Partnership based upon amounts due and payable, on an accrual basis, in the calendar year in which the Initial Closing occurs except as set forth below. All
prorations of real estate taxes shall be based upon the most recent available full year’s tax bills, and, if applicable, subject to re-proration when the actual tax bill for the applicable fiscal tax year in which the Initial Closing occurs is
received. All escrow and reserve accounts (including without limitation, all capital improvement reserves and taxes and insurance escrows) held in connection with the Property by the existing Lender of the existing Loan that will be either
refinanced and replaced at the Subsequent Closing by the new Loan or remain in place and be assumed shall, upon such refinance or assumption , either (i) be paid directly to the new Lender to be held for the same purposes with respect to the
new Loan or continue to be held by the existing Lender if the existing Loan is assumed or (ii) be paid to the Property Owner and shall follow the Property, and those held by the Contributor shall follow the Property, and shall be prorated and
credited to the Contributor in the manner set forth in the Settlement Statement. 
 (b) Invoiced rents and other charges, other
than for Tenants who owe Delinquent Amounts (as hereinafter defined), shall be prorated. Prepaid rents and other charges shall be credited to the Partnership. Without limiting the foregoing, rent and all other sums which are due and payable to the
Property Owner by any Tenant, whether or not collected as of the Initial Closing, shall be adjusted, but the Partnership shall not be required to cause the rent and other sums for the period prior to Initial Closing to be remitted to the Contributor
if, as, and when collected. At the Initial Closing, the Contributor’s Representative shall deliver to the Partnership a schedule of all rent, charges and other amounts payable by Tenants after the Initial Closing with respect to which the
Contributor is entitled to receive a share under this Agreement, and any amount due and owing to the Property Owner before the Initial Closing by Tenants under the Leases which are unpaid on the date of the Initial Closing (such amounts are
collectively referred to herein as the “Delinquent Amounts”). Rental and other payments received by the Partnership from Tenants shall first be applied toward the Partnership’s actual out-of-pocket costs (including reasonable
attorneys’ fees) of collection, and then toward the payment of current rent and other charges owed to the Partnership for periods after the Initial Closing, and any excess monies received shall be applied toward the payment of Delinquent
Amounts; provided, however, that any rent received by the Partnership from Tenants who owe Delinquent Amounts during the month in which the Initial Closing occurs shall first be applied to 

  
 41 

 
the payment of such Tenants’ Delinquent Amounts, if any, with respect to the month in which the Initial Closing occurs, and not toward the payment of rent and other charges for previous or
subsequent months. The Partnership may not waive any Delinquent Amounts or modify a Lease so as to reduce amounts or charges owed under Leases for any period in which the Contributor is entitled to receive a share of charges or amounts, without
first obtaining the written consent of the Contributor. If a Delinquent Amount due the Contributors is not paid by a Tenant within the later of (i) sixty (60) days after the Initial Closing or (ii) sixty (60) days after billing
therefor, the Contributor shall have the right to attempt to effect collection by litigation or otherwise so long as the Contributor does not take any action which would affect such Tenant’s right to occupy its leased premises or terminate its
Lease. With respect to Delinquent Amounts owed by Tenants that are no longer Tenants of the Real Property as of the date of Initial Closing, the Contributor shall retain all rights relating thereto. 

(c) To the extent security deposits, pet deposits or other deposits paid by Tenants under Leases are held in the name of the Property
Owner, such deposits shall continue to be held by the Property Owner so as to be available to the Property Owner after the Initial Closing, or if such deposits are held by the Existing Manager, all such deposits shall be transferred to the
applicable Property Owner or to the Partnership’s property manager prior to the Subsequent Closing. There shall be no apportionment or proration of any insurance premiums or costs or expenses related to the employment of any persons at the
Property. 
 (d) The following items shall also be prorated between the Contributor and the Partnership as of the Initial
Closing: 
 (i) Fuel, water and sewer service charges, and charges for gas, electricity, telephone and all other utility and
fuel charges, as well as all deposits to utility companies, governmental entities or any other person shall be prorated ratably on the basis of the last ascertainable bills (and reprorated upon receipt of the actual bills or invoices) to the extent
not paid directly by Tenants under their respective Leases unless final meter readings and final invoices can be obtained. To the extent practicable, the Contributor’s Representative shall cause meters for utilities to be read not more than one
(1) day prior to the date of the Initial Closing. 
 (ii) Assignable license and permit fees paid on an annual or other
periodic basis. 
 (iii) Prepaid interest or other payments paid to the Lender under the Loan. 

(iv) Cash then being held in the Property Owner (other than security deposits, as provided in Section 9.1(c) above) shall be
prorated as of the Initial Closing and, notwithstanding the terms of Section 9.1(g) below, the applicable prorated amount shall be distributed to the Contributor immediately prior to the Subsequent Closing. 

(v) Such other items that are customarily prorated in transactions of this nature (including, without limitation, any utilities paid by
the Property Owner under the Leases). 

  
 42 

 (e) For purposes hereof, unless this Agreement terminates, the Partnership shall be deemed
to be the owner of the Contributed Entity and the Property Owner and, therefore, entitled to the income from the Property and responsible for the expenses of the Property for the entire day upon which the Initial Closing occurs. All such prorations
shall be made on the basis of the actual number of days of the month which shall have elapsed as of the day of the Initial Closing. To the extent information necessary to make such prorations is not available at the Initial Closing or is determined
to be inaccurate or incomplete after the Initial Closing, the amount of such prorations shall be subject to adjustment in OP Units (or as otherwise agreed by the parties) after the Initial Closing as and when complete and accurate information
becomes available and at the Subsequent Closing. All prorations shall otherwise be final. The Contributor and the Partnership agree to cooperate and use their best efforts to make such adjustments no later than sixty (60) days after the Initial
Closing as to all items except tax prorations, subject to mutual agreement to extend such sixty (60) day period, and in all events prior to the Subsequent Closing and with respect to tax prorations, the parties shall make such adjustments upon
receipt of the actual tax bills covering the period in which the Initial Closing occurs. Except as set forth in this Section 9.1, all items of income and expense for the period prior to the Initial Closing will be for the account of the
Contributor and all items of income and expense for the period on and after the Initial Closing will be for the account of the Partnership, all as determined by the accrual method of accounting. Bills received after the Initial Closing which relate
to expenses incurred, services performed or other amounts allocable to the period prior to the Initial Closing shall be paid by the Contributor. 
 (f) Amounts on deposit with utility companies shall be credited to the Contributor. The Contributor shall, from and after the Initial Closing, at the Contributor’s sole cost and expense, have control
over any ongoing tax appeals as to the Property that were commenced prior to the Initial Closing and that pertain solely to the periods that the Contributor owned the Contributed Entity. The Contributor shall, as applicable, retain all proceeds or
reductions obtained from such appeals or pay all additional taxes or delinquencies imposed for such periods. The Contributors shall keep the Partnership informed as to any such appeals and to the extent that ongoing tax appeals pertain to periods
that include any period after the Initial Closing or which are reasonably expected to result in higher tax assessment or payment, the Partnership shall be entitled to join in such appeal and/or pursue its own appeal, at the Partnership’s
expense, from and after the date of the Initial Closing. 
 (g) Without limiting the terms of Sections 8.7 or
9.1(d)(iv) above, the parties acknowledge and agree that, from and after the Initial Closing until immediately prior to the Subsequent Closing, as provided in clause (ii) below, (i) the Contributed Entity shall not declare, pay or
otherwise make provision for any dividends or distributions and (ii) immediately prior to the Subsequent Closing, in addition to any prorations, adjustments or other amounts payable by or to the Contributor with respect to the Contributed
Entity or the Property, as provided herein, the Contributed Entity shall distribute to the Contributor receiving OP Units an amount equal to the amount such Contributor would have been paid as a distribution on account of the OP Units it will
receive at the Subsequent Closing had such OP Units been issued and sold to such Contributor at the Initial Closing. 
 (h) The
parties acknowledge and agree that the gross fair market value of the portions of the Property treated as personal property under the Code is equal to the tax basis in such personal property and at the Subsequent Closing, the parties will reasonably
agree on a fair market value allocation of value between the Land and Improvements. 

  
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 (i) The provisions of this Section 9.1 shall survive the Initial Closing.

 9.2 Closing Costs. 
 (a) Partnership. The Partnership shall pay at the Initial Closing and Subsequent Closing all fees and expenses incurred in connection with the transactions contemplated herein, including but not
limited to (i) all survey and title costs associated with the Real Property, (ii) all Loan Costs associated with the Lender Approval, (iii) all Transfer Taxes with respect to the Real Property, (iv) the Partnership’s other
due diligence expenses, subject to Section 10.3, (v) the legal fees and expenses, audit fees and expenses, and financial advisory fees and expenses of the Partnership, and (vi) the legal fees and expenses, audit fees and
expenses, and financial advisory fees and expenses of the Contributor, except as otherwise set forth in Section 9.2(b) below. 
 (b) Contributor. If this Agreement is terminated by the Partnership as a result of a default by the Contributor pursuant to Section 10.3 below, the Contributor shall be responsible for
any and all legal fees and expenses, audit fees and expenses, and financial advisory fees and expenses of the Contributor and the Contributor’s Representative. 
 (c) Survival. The obligations of the parties under this Section 9.2 shall survive the Initial Closing. 
  

	 	SECTION 10.	TERMINATION; REMEDIES FOR PRE-CLOSING DEFAULTS. 

 10.1 Termination. Anything to the contrary herein notwithstanding, this Agreement shall terminate and the transactions contemplated hereby abandoned: 

(a) Upon termination by either the Partnership or the Contributor if the Closing Contingencies have not occurred on or before the
Outside Closing Date; or 
 (b) Automatically if the Master Contribution Agreement is terminated. 

10.2 Effect of Termination. If this Agreement is terminated pursuant to Section 10.1, then unless the terms of this
Agreement, including Sections 10.3 and 10.4 below, specifically provide otherwise, no Person shall have any further obligations or liabilities hereunder, except for those obligations or liabilities which expressly survive the
termination of this Agreement. 
 10.3 Partnership’s Remedies for Pre-Closing Default. Without affecting any rights
contained in Article XI of the Master Contribution Agreement or in the Governance Agreement, if any Contributor shall fail to perform when it is obligated to do so any of the covenants and agreements contained herein and such condition or failure
continues for a period of ten (10) Business Days after written notice thereof from the Partnership to the Contributor, then the Partnership’s sole remedy shall be either: 

  
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 (a) to terminate this Agreement, in which event this Agreement shall be of no further
force and effect, except with respect to provisions hereof which by their express terms survive a termination of this Agreement, and the Contributor shall, within three (3) Business Days following the termination, reimburse the Partnership for
all actual out-of-pocket costs and expenses incurred by the Partnership in connection with this Agreement; 
 (b) to consummate
the transactions contemplated hereby, notwithstanding such default, without any abatement or reduction in the Agreed Contribution Value on account thereof; or 
 (c) to compel specific performance of this Agreement, or if the remedy of specific performance is unavailable to the Partnership as a result of Contributed Entity’s intentional transfer of the
Property (excluding the transfer of a portion of the Property due to a condemnation, or the transfer of immaterial amounts of personal property in the Ordinary Course) or the Contributor’s intentional transfer of the Interests to a Person other
than the Partnership, other than as a result of a foreclosure, deed in lieu thereof, or similar lender remedy, then the Contributor shall reimburse the Partnership for all actual out-of-pocket costs and expenses incurred by the Partnership in
connection with this Agreement. 
 THE PARTNERSHIP AND THE CONTRIBUTOR AGREE THAT IT WOULD BE EXTREMELY DIFFICULT AND IMPRACTICABLE, IF NOT
IMPOSSIBLE, TO ASCERTAIN WITH ANY DEGREE OF CERTAINTY THE AMOUNT OF DAMAGES WHICH WOULD BE SUFFERED BY PARTNERSHIP IF THIS AGREEMENT IS TERMINATED AS SET FORTH IN THIS SECTION 10.3 AND THE PARTNERSHIP AND THE CONTRIBUTOR AGREE THAT THE
ABOVE DESCRIBED AMOUNTS CONSTITUTE A FAIR AND REASONABLE AMOUNT TO BE RECEIVED BY THE PARTNERSHIP AS AGREED AND LIQUIDATED DAMAGES FOR TERMINATION OF THIS AGREEMENT AS SET FORTH IN THIS SECTION 10.3, AS WELL AS A FAIR, REASONABLE AND
CUSTOMARY AMOUNT TO BE PAID AS LIQUIDATED DAMAGES TO A PARTNERSHIP IN AN ARM’S LENGTH TRANSACTION OF THE TYPE CONTEMPLATED BY THIS AGREEMENT UPON A DEFAULT BY CONTRIBUTOR THEREUNDER; AND RECEIPT BY THE PARTNERSHIP OF SUCH AMOUNTS UPON THE
CONTRIBUTOR’S DEFAULT HEREUNDER SHALL NOT CONSTITUTE A PENALTY OR A FORFEITURE. 
 10.4 Contributor’s Remedy for
Pre-Closing Default. If the Partnership shall fail to perform when it is obligated to do so any of the covenants and agreements contained herein and such condition or failure continues for a period of ten (10) Business Days after written
notice thereof from the Contributor, then the Contributor’s sole remedy shall be either: 
 (a) to terminate this
Agreement and this Agreement shall be of no further force and effect, except with respect to provisions hereof which by their express terms survive a termination of this Agreement, and the Partnership shall, within three (3) Business Days
following the termination, (i) pay to the Contributor the sum of One Hundred Thousand Dollars ($100,000.00) as liquidated damages, and (ii) reimburse the Contributor for all actual out-of-pocket costs and expenses incurred by the
Contributor in connection with this Agreement; 

  
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 (b) to consummate the transactions contemplated hereby, notwithstanding such default,
without any abatement or reduction in the Agreed Contribution Value on account thereof; or 
 (c) to compel specific
performance of this Agreement. 
 THE PARTNERSHIP AND THE CONTRIBUTOR AGREE THAT IT WOULD BE EXTREMELY DIFFICULT AND IMPRACTICABLE, IF NOT
IMPOSSIBLE, TO ASCERTAIN WITH ANY DEGREE OF CERTAINTY THE AMOUNT OF DAMAGES WHICH WOULD BE SUFFERED BY THE CONTRIBUTOR IF THIS AGREEMENT IS TERMINATED AS SET FORTH IN THIS SECTION 10.4 AND THE PARTNERSHIP AND THE CONTRIBUTOR AGREE THAT
THE PAYMENT REQUIRED BY THIS AGREEMENT CONSTITUTES A FAIR AND REASONABLE AMOUNT TO BE RECEIVED BY THE CONTRIBUTOR AS AGREED AND LIQUIDATED DAMAGES FOR TERMINATION OF THIS AGREEMENT AS SET FORTH IN THIS SECTION 10.4, AS WELL AS A FAIR,
REASONABLE AND CUSTOMARY AMOUNT TO BE PAID AS LIQUIDATED DAMAGES TO A CONTRIBUTOR IN AN ARM’S LENGTH TRANSACTION OF THE TYPE CONTEMPLATED BY THIS AGREEMENT UPON A DEFAULT BY THE PARTNERSHIP THEREUNDER; AND RECEIPT BY THE CONTRIBUTOR OF THE
PAYMENT REQUIRED BY THIS AGREEMENT UPON THE PARTNERSHIP’S DEFAULT HEREUNDER SHALL NOT CONSTITUTE A PENALTY OR A FORFEITURE. 
 10.5 Limitations on Liability. 
 (a) In General. The parties hereto
confirm and agree that in each instance herein where a party or its Affiliates is entitled to payment or reimbursement for damages, costs or expenses pursuant to the terms and conditions of this Agreement, any payment or reimbursement made to such
party shall be conclusively deemed to be for the account of both such party and its Affiliates, it being acknowledged and agreed that a payment or reimbursement made to such party for damages, costs or expenses shall be sufficient to satisfy all
claims for payment or reimbursement of such party and its Affiliates. The parties further confirm and agree that no party hereto (a “Non-Performing Party”) will be deemed to be in default hereunder or be liable for any breach of its
representations and warranties under this Agreement if its failure to perform an obligation hereunder is based solely on the non-performance of another party to this Agreement (which other party is not an Affiliate of the Non-Performing Party) or
where all conditions precedent to the obligation of such Non-Performing Party to consummate the Initial Closing or Subsequent Closing under Sections 4 or 5, as applicable, have not been fulfilled. 

(b) Maximum Liability Amount. Notwithstanding anything to the contrary contained in this Agreement, if the Subsequent Closing of
the transactions hereunder shall have occurred: (i) the Contributor shall have no liability (and the Partnership shall make no claim against the Contributor) for a breach of any representation or warranty or any other obligation of the
Contributor or for indemnification under this Agreement or any document executed by the Contributor in connection with this Agreement which relates in any manner to the transactions contemplated hereby unless and only to the extent the valid claims
for all such breaches and indemnifications collectively aggregate to more than Ten Thousand Dollars ($10,000.00) (the “Basket”) and the liability of the Contributor under this Agreement and such

  
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other documents delivered in connection with the transactions contemplated hereby shall in no event exceed (except as provided below), in the aggregate, an amount equal to One Hundred Thousand
Dollars ($100,000.00) (the “Cap”); and (iii) in no event shall the Contributor be liable for any consequential or punitive damages. 
 (c) Constituent Liability. No constituent member or partner in or agent of the Partnership, the Contributor, nor any advisor, trustee, director, officer, employee, beneficiary, shareholder, member,
partner, participant, representative or agent of any partnership, limited liability company, corporation, trust or other entity that has or acquires a direct or indirect interest in the Partnership or the Contributor, shall have any personal
liability, directly or indirectly, under or in connection with this Agreement or any agreement made or entered into under or pursuant to the provisions of this Agreement, or any amendment or amendments to any of the foregoing made at any time or
times, heretofore or hereafter, and the Partnership, the Contributor and their respective successors and assigns and, without limitation, all other persons and entities, shall look solely to the Partnership’s and the Contributor’s assets
for the payment of any claim or for any performance, and the Partnership and the Contributor, on behalf of themselves and their respective successors and assigns, hereby waive any and all such personal liability. Notwithstanding anything to the
contrary contained in this Agreement, neither the negative capital account of any constituent member or partner in the Partnership or the Contributor (or in any other constituent member or partner thereof), nor any obligation of any constituent
member or partner in the Partnership or the Contributor (or in any other constituent member or partner thereof) to restore a negative capital account or to contribute capital to the Partnership or the Contributor (or to any other constituent member
or partner thereof), shall at any time be deemed to be the property or an asset of the Partnership or the Contributor or any such other constituent member or partner (and neither the Partnership, the Contributor nor any of their respective
successors or assigns shall have any right to collect, enforce or proceed against or with respect to any such negative capital account or a member’s or partner’s obligation to restore or contribute). Notwithstanding the foregoing to the
contrary, the provisions of this Section 10.5(c) shall have no impact on, and shall be superseded by, any agreement, whether entered into prior to or after the Effective Date, related to the allocation of assets and/or liabilities
between the Contributor, its respective successors and assigns, or any constituent member, partner or subsidiary thereof. 

(d) The terms of this Section 10 shall survive the Initial Closing and the Subsequent Closing. 

 

	SECTION 11.	INDEMNIFICATION. 

 11.1
Contributor’s Indemnity. The Contributor hereby agrees to indemnify and hold the Partnership and its successors and assigns, ATA, and their respective employees, directors, members, partners, affiliates and agents harmless of and from
all liabilities, losses, damages, costs, and expenses (including reasonable attorneys’ fees) which they may suffer or incur by reason of (a) any breach by the Contributor of its representations or warranties contained in this Agreement,
(b) any act or cause of action occurring or accruing prior to the Subsequent Closing Date and arising from the ownership of the Interests or the Contributed Entity prior to the Subsequent Closing Date, and (c) the ownership or operation of
the Contributed Entity or the Property and relating to the period prior to the Subsequent Closing 

  
 47 

 
Date, including, without limitation, actions or claims relating to damage to property or injury to or death of any person occurring or arising during the period prior to the Subsequent Closing
Date, or any claims for any debts or obligations occurring on or about or in connection with the Property or any portion thereof or with respect to the Property’s operations at any time prior to the Subsequent Closing Date. 

11.2 Partnership’s Indemnity. ATA and the Partnership jointly and severally, hereby agree to indemnify and hold the
Contributor, the Contributed Entity, the Property Owner and their respective employees, directors, members, partners, affiliates and agents (the “Contributor Indemnitees”) harmless of and from all liabilities, losses, damages, costs, and
expenses (including reasonable attorneys’ fees) which the Contributor Indemnitees may suffer or incur by reason of (a) any breach by the Partnership of its representations or warranties contained in this Agreement, (b) any act or
cause of action occurring or accruing on or after the Subsequent Closing Date and arising from the ownership of the Interests or the Contributed Entity on or after to the Subsequent Closing Date, and (c) the ownership or operation of the
Contributed Entity, the Property Owner or the Property and relating to the period on or after the Subsequent Closing Date, including, without limitation, actions or claims relating to damage to property or injury to or death of any person occurring
or arising during the period on or after the Subsequent Closing Date, or any claims for any debts or obligations occurring on or about or in connection with the Property or any portion thereof or with respect to the Property’ operations at any
time on or after the Subsequent Closing Date. 
 11.3 Indemnification Procedure. All claims for indemnification pursuant
to Sections 11.1 or 11.2 (“Claims”) shall be made in a reasonably detailed writing, which shall include, without limitation, the amount so demanded for such Claim (to the extent readily calculable), by the party
seeking to be indemnified (the “Indemnified Party”) and sent to the addresses set forth in the notice provisions set forth herein (the “Indemnification Notice”). The making of a Claim pursuant to a properly
delivered and reasonably detailed Indemnification Notice shall toll the running of the limitation period set forth above with respect to that specific Claim. The party from which indemnification is sought (the “Indemnifying Party”)
shall have ten (10) days after such Indemnification Notice is received to either (i) agree to the Indemnified Party’s demand, or (ii) refuse such demand for indemnification. Should the Indemnifying Party fail to respond to the
Indemnified Party’s Indemnification Notice within such ten (10) day period, the Indemnifying Party shall be deemed to have agreed to indemnify the Indemnified Party as requested in such Indemnification Notice. In the event that the
Indemnifying Party refuses to indemnify the Indemnified Party pursuant to such Indemnification Notice, the Indemnified Party shall be free to pursue such Claim for indemnity pursuant to the terms of this Agreement with any court of competent
jurisdiction. 
 11.4 Survival. The Terms of this Section 11 shall survive the Initial Closing and Subsequent
Closing. 

  
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	SECTION 12.	TAX MATTERS. 

 12.1
Tax Matters. The Contributor shall pay and indemnify, without duplication, the Contributed Entity, the Property Owner, their Subsidiaries, ATA and the Partnership for the following Taxes (and all related Adverse Consequences, including all
out-of-pocket expenses incurred in defending an audit or other claim relating to such Taxes, but excluding any Transfer Taxes): 
 (a) all such Taxes resulting from a breach of a representation or warranty contained in Section 6.1(f) or a breach of any provision of this Section 12; 

(b) with respect to such Taxes attributable to any Pre-Closing Tax Period: (i) all such Taxes of each Contributed Entity, the
Property Owner and each of their Subsidiaries; and (ii) all such Taxes of any other Person that any Contributed Entity, the Property Owner or any of their Subsidiaries is liable for as a result of transferee liability, successor liability, or a
contractual obligation, in each case, that is attributable to, or arose as a result of actions or breaches, incurred in such Pre-Closing Tax Period; and 
 (c) with respect to such Taxes attributable to any Straddle Period: (i) the Taxes of each Contributed Entity, the Property Owner and each of its Subsidiaries attributable to the portion of such
Straddle Period that ends on the Initial Closing Date, as determined under Section 12.2; and (ii) the Taxes of any other Person that any Contributed Entity, the Property Owner or any of their Subsidiaries is liable for as a result
of transferee liability, successor liability, or a contractual obligation, in each case, that is attributable to, or arose as a result of actions or breaches, incurred on or before the Initial Closing Date, as determined under
Section 12.2. 
 12.2 Allocation of Taxes. For purposes of determining the amount of Taxes that relate to
Pre-Closing Tax Periods, and Straddle Periods for purposes of any obligation to indemnify for Taxes under Section 12.1, the parties agree to use the following conventions: 

(a) Taxes in the form of interest, penalties, additions to tax or other additional amounts that are actually incurred, accrued, assessed
or similarly charged on or after the Initial Closing Date but that relate to Taxes that accrued on or before the Initial Closing Date shall be treated as occurring prior to the Initial Closing Date; 

(b) Except for Transfer Taxes and any other Taxes for which the Partnership is responsible hereunder and for real estate taxes
(apportioned pursuant to Section 9.1), for all Taxes that are payable with respect to any Straddle Period, the portion of such Tax that is attributable to the portion of the Straddle Period ending on the Initial Closing Date shall be
allocated between the portion of the period ending on the Initial Closing Date and the portion of the period beginning after the Initial Closing Date using the following conventions: 

(i) in the case of such Taxes resulting from, or imposed on, net or gross income, Taxes resulting from, or imposed on, any sale,
receipt, use, transfer or assignments of property or other asset, or Taxes resulting from, or imposed on, any payment or accrual of any amounts (including, without limitation, dividends, interest, or wages), the amount allocated to the portion of
the period ending on the Initial Closing Date shall be the amount of Tax that would be payable for such portion of the Straddle Period if such Person filed a separate Tax Return with respect to such Taxes or Taxes solely for the portion of the
Straddle Period ending on the Initial Closing Date using a “closing of the books” methodology for allocating items of such Tax Return; and 

  
 49 

 (ii) in the case of all other such Taxes, the amount allocated to the portion of the
period ending on the Initial Closing Date shall equal to the amount of Taxes for the entire Straddle Period multiplied by a fraction the numerator of which is the number of calendar days in the portion of the period ending on the Initial Closing
Date and the denominator of which is the number of calendar days in the entire Straddle Period. 
 For purposes of clause (i),
any item determined on an annual or periodic basis (including amortization and depreciation deductions and the affects of graduated rates) shall be allocated to the portion of the Straddle Period ending on the Initial Closing Date based on the
relative number of days in such portion of the Straddle Period as compared to the number of days in the entire Straddle Period. 

12.3 Cooperation. Each the parties hereto shall provide the Partnership and the Contributor with such assistance as may reasonably
be requested in connection with the preparation of any Tax Return or any audit or other Proceeding by any Governmental Authority relating to liabilities for Taxes. Such assistance shall, upon reasonable written notice, include making employees
available on a mutually convenient basis during normal business hours to provide additional information or explanation of material provided hereunder and shall include providing copies of relevant Tax Returns and supporting material. The Contributor
shall provide to the Partnership, the Property Owner and the Contributed Entity with any information that the Contributed Entity and the Property Owner reasonably requests to allow the Partnership, the Property Owner or such Contributed Entity to
comply with any information reporting requirements under the Code or other applicable Law. 
 12.4 Tax Returns.

 (a) Pre-Closing Tax Periods. The Contributor shall cause each Contributed Entity, the Property Owner and each of
their Subsidiaries to prepare and timely file all Tax Returns of the Contributed Entity, the Property Owner and each of their Subsidiaries for any Pre-Closing Tax Periods, and the Contributor shall remit or cause to be remitted any Taxes due in
respect of such Pre-Closing Tax Periods. 
 (b) Straddle Periods and Post-Closing Periods. The Partnership shall cause
each Contributed Entity, the Property Owner and each of their Subsidiaries to prepare and timely file all Tax Returns of the Contributed Entity, the Property Owner and each of their Subsidiaries for all taxable periods of each Contributed Entity,
the Property Owner or any of their Subsidiaries other than the Pre-Closing Tax Periods, and the Partnership shall remit or cause to be remitted any Taxes due in respect of such taxable periods. At least 15 days prior to the deadline for the filing
of any Tax Return for a Straddle Period (and before the Partnership files such Tax Return), the Partnership shall furnish to the Contributor’s Representative a draft of such Tax Return and Contributor’s Representative shall have the right
to review, provide the Partnership written comments on, and approve the portion of such draft Tax Return that relates to Taxes allocable to the portion of the Straddle Period for which the Contributor is responsible. 

  
 50 

 12.5 Claims; Tax Proceedings. If any Governmental Authority issues to any
Contributed Entity, the Property Owner or any of their Subsidiaries a written notice of its intent to conduct an audit or other Proceeding with respect to Taxes, a written notice of deficiency, a written notice of an assessment, a written notice of
a proposed adjustment, a written assertion of claim for the payment that relates to Taxes or Tax Returns of any Contributed Entity, the Property Owner or any of their Subsidiaries for a Pre-Closing Tax Period or for a Straddle Period and for which
Contributor is obligated to pay or indemnify the Partnership (collectively, a “Tax Claim”), Partnership shall notify the Contributor’s Representative within ten (10) Business Days. The Contributed Entity shall control any
Proceeding with respect to a Tax Claim (a “Tax Contest”); provided, however, that with respect to (a) any Tax Claim related to Taxes for a Pre-Closing Tax Period, (b) any Tax Claim related to Taxes for a Straddle
Period or (c) with respect to any Tax Claim for which the Contributor would be responsible for all or a portion of such Tax Claim, the Contributor’s Representative may, at the Contributor’s sole cost and expense, participate in such
Tax Consent, and any settlement or other disposition of any such Tax Contest may only be made with the consent of the Contributor’s Representative. 
 12.6 Certain Tax Elections. The Contributor shall not have allowed any Contributed Entity, the Property Owner or any of their Subsidiaries prior to, on, or after the Initial Closing Date to, make,
revoke, or change any Tax election, change an annual accounting period, adopt or change any accounting method, file any amended Tax Return, enter into any closing agreement with any Governmental Authority, settle any Tax claim or assessment relating
to any Contributed Entity, the Property Owner or any of their Subsidiaries, surrender any right to claim a refund of Taxes, consent to any extension or waiver of the limitation period applicable to any Tax Claim or assessment relating to the
Contributed Entity, the Property Owner or any of their Subsidiaries, or take any other similar action (or omit to take any action) relating to the filing of any Tax Return or the payment of any Tax, if such election, adoption, change, amendment,
agreement, settlement, surrender, consent or other action or omission would have the effect of increasing a Tax liability of any Contributed Entity, the Property Owner or any of their Subsidiaries for any period ending after the Initial Closing
Date. 
 12.7 Other Treatment. 
 (a) The Contributor and the Partnership agree for all relevant Tax purposes to treat all indemnification payments to the Partnership pursuant to this Agreement as adjustments to the Agreed Contribution
Value. 
 (b) It is the intent of the Contributor and the Partnership that the transfer by the Contributor of Interests
to the Partnership in exchange for OP Units shall be treated as a tax-deferred contribution of assets to the Partnership under Section 721 of the Code. 
 12.8 Other Provisions. The provisions of this Section 12 shall govern all indemnity claims with respect to Taxes, including, without limitation, claims related to a breach of a
representation or warranty contained in Section 6.1(e) or a breach of any provision of this Section 12. 

12.9 Survival. The obligations of the Contributor to pay or indemnify for a Tax under this Section 12 shall expire
upon the expiration of the applicable statute of limitations 

  
 51 

 
(after taking into account any waiver, extension, tolling, or mitigation thereof) of the underlying Tax; provided, however, to the extent that the Contributor’s obligation to
pay a Tax arises under a contract or other agreement or arrangement, the Contributor’s obligations under this Section 12 shall not expire until sixty (60) after the expiration of such Contributor’s obligation to pay such
Tax under the contract or other agreement or arrangement. All other obligations of the Contributor under this Section 12 shall survive until fully performed. 

 

	 	SECTION 13.	MISCELLANEOUS. 

 13.1
Drafts not an Offer to Enter into a Legally Binding Contract. The parties hereto agree that the submission of a draft of this Agreement by one party to another is not intended by either party to be an offer to enter into a legally binding
contract with respect to the contribution and sale of the Property. The parties shall be legally bound with respect to the contribution and sale of the Interests pursuant to the terms of this Agreement only if and when the parties have been able to
negotiate all of the terms and provisions of this Agreement in a manner acceptable to each of the parties in their respective sole discretion, and the Contributor and the Partnership have fully executed and delivered to each other a counterpart of
this Agreement. 
 13.2 Brokerage Commissions. Each of the parties hereto represents to the other parties that it dealt
with no broker, finder or like agent in connection with this Agreement or the transactions contemplated hereby, and that it reasonably believes that there is no basis for any other person or entity to claim any brokerage commissions, finder’s
fees or similar payments or other compensation for bringing about this Agreement or the transactions contemplated hereby. The Contributor shall indemnify and hold harmless the Partnership, and its successors and assigns from and against any loss,
liability or expense, including, reasonable attorneys’ fees, arising out of any claim or claims for commissions or other compensation for bringing about this Agreement or the transactions contemplated hereby made by any broker, finder or like
agent, if such claim or claims are based in whole or in part on dealings with the Contributor. The Partnership shall indemnify and hold harmless the Contributor and its successors and assigns from and against any loss, liability or expense,
including, reasonable attorneys’ fees, arising out of any claim or claims for commissions or other compensation for bringing about this Agreement or the transactions contemplated hereby made by any broker, finder or like agent, if such claim or
claims are based in whole or in part on dealings with the Partnership. Nothing contained in this Section 13.2 shall be deemed to create any rights in any third party. The provisions of this Section 13.2 shall survive the
Initial Closing and the Subsequent Closing hereunder and any termination of this Agreement. 
 13.3 Publicity. Except to
the extent ATA or the Partnership deems it necessary or advisable in order to satisfy their disclosure obligations under the Securities Act of 1933, as amended, and the Securities and Exchange Act of 1934, as amended, and all regulations promulgated
thereunder, or as may otherwise be required by Law, none of the Contributor, the Contributor’s Representative, or their respective Affiliates, on the one hand, nor ATA, the Partnership or their respective Affiliates, on the other hand, may
issue any press release or other public announcement relating to this Agreement or the transaction contemplated hereby without the prior written approval of the other. In the event ATA or the Partnership deems it necessary or appropriate to issue
any press release, file any report of filing with the SEC or make any other 

  
 52 

 
public announcement relating to this Agreement or the transaction contemplated hereby, the Partnership shall first consult with and reasonably consider any comments or suggestions of the
Contributor’s Representative with respect thereto. Nothing contained herein shall be deemed to prohibit or limit the Partnership’s ability to make any disclosures it deems necessary or advisable to rating agencies, the Lender (including
its servicers), the Title Company, potential sources of financing, financial analysts, accountants, attorneys, or to Governmental Authorities in order to satisfy the Closing Contingency set forth in Section 4.5 or to obtain zoning or
Property information. 
 13.4 Notices. 
 (a) All notices, requests, demands, consents, approvals, elections and other communications under this Agreement shall be in writing and shall be deemed to have been duly given (i) when received if
delivered personally, (ii) when sent by electronic mail or facsimile (which is confirmed by the intended recipient) or (iii) when sent by overnight courier service or when mailed by certified or registered mail, return receipt requested,
with postage prepaid to the parties at the following addresses (or at such other address for a party as shall be specified by like notice): 
  

			
	 If to the Contributor’s Representative or

the Contributor, to:
	  	 DeBartolo Development LLC

4401 W. Kennedy Boulevard,
3rd Floor

Tampa, Florida 33609
 Attn: Edward M. Kobel Fax:
(813) 676-7696
 Email: ekobel@DeBartoloDevelopment.com

		
	 with a copy to:
	  	 Gray Robinson, P. A.
 201 N.
Franklin Street, Suite 2200
 Tampa, Florida 33602
 Attn: Michael J. Nolan Fax: (813) 273-5039
 Email:mnolan@gray-robinson.com

		
	 If to the Partnership or ATA, to:
	  	 Apartment Trust of America Holdings, L.P.
 4901 Dickens Road, Suite 101
 Richmond, Virginia 23230

Attn: Stanley J. Olander, Jr.
 Fax: (804)
244-0199
 Email: jolander@atareit.com

  
 53 

			
	with a copy to:	  	 Hunton & Williams LLP

Riverfront Plaza, East Tower
 951 East Byrd
Street
 Richmond, VA 23219-4074
 Attn:
Daniel M. LeBey, Esq. Fax:(804) 788-8218
 Email: dlebey@hunton.com
 Attn: Andrew J. Tapscott, Esq.
 Fax:(804) 788-8218

Email: atapscott@hunton.com

		
	If to Title Company, to:	  	 Chicago Title Company
 5501
LBJ Freeway, Suite 200
 Dallas, Texas 75240
 Attn: Debby S. Moore
 Fax:(214) 570-0210
 Email: debby.moore@cttdallas.com

 (b) By notice given as herein provided, the parties hereto and their respective successors and assigns
shall have the right from time to time and at any time during the term of this Agreement to change their respective addresses effective upon receipt by the other parties of such notice and each shall have the right to specify as its address any
other address within the United States of America. 
 13.5 Waivers, Etc. Any waiver of any term or condition of this
Agreement, or of the breach of any covenant, representation or warranty contained herein, in any one instance, shall not operate as or be deemed to be or construed as a further or continuing waiver of any other breach of such term, condition,
covenant, representation or warranty or any other term, condition, covenant, representation or warranty, nor shall any failure at any time or times to enforce or require performance of any provision hereof operate as a waiver of or affect in any
manner such party’s right at a later time to enforce or require performance of such provision or any other provision hereof. This Agreement may not be amended nor shall any waiver, change, modification, consent or discharge be effected, except
by an instrument in writing executed by or on behalf of the party against whom enforcement of any amendment, waiver, change, modification, consent or discharge is sought. 
 13.6 Assignment; Successors and Assigns. Except as otherwise provided herein, this Agreement and all rights and obligations hereunder shall not be assignable by any party without the written
consent of the other parties; provided, however, the Partnership may assign this Agreement in whole or in part to any of Partnership’s Affiliates; provided, however, such assignment shall not in any way release the Partnership from its
obligations or liabilities under this Agreement. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement is not intended and shall not be
construed to create any rights in or to be enforceable in any part by any other persons. 

  
 54 

 13.7 Severability. If any provision of this Agreement shall be held or deemed to be,
or shall in fact be, invalid, inoperative or unenforceable as applied to any particular case in any jurisdiction or jurisdictions, or in all jurisdictions or in all cases, because of the conflict of any provision with any constitution or statute or
rule of public policy or for any other reason, such circumstance shall not have the effect of rendering the provision or provisions in question invalid, inoperative or unenforceable in any other jurisdiction or in any other case or circumstance or
of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to the extent that such other provisions are not themselves actually in conflict with such constitution, statute or rule of public policy, but this
Agreement shall be reformed and construed in any such jurisdiction or case as if such invalid, inoperative or unenforceable provision had never been contained herein and such provision reformed so that it would be valid, operative and enforceable to
the maximum extent permitted in such jurisdiction or in such case. 
 13.8 Counterparts, Entire Agreement, Amendments.
This Agreement may be executed in two (2) or more counterparts, including by facsimile or other electronic transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This
Agreement constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and shall supersede and take the place of any other instruments purporting to be an agreement of the parties hereto relating to the subject
matter hereof. This Agreement may not be amended or modified in any respect other than by the written agreement of all of the parties hereto. 
 13.9 Governing Law; Jurisdiction; Waiver of Jury Trial. 
 (a) THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE PARTIES RECOGNIZE THAT, WITH RESPECT TO SOME OF THE PROPERTY, IT MAY BE NECESSARY FOR THE PARTIES TO COMPLY WITH CERTAIN ASPECTS OF THE LAWS OF
OTHER STATES IN ORDER TO CONSUMMATE THE CONTRIBUTION AND SALE OF THE PROPERTY PURSUANT HERETO. THE PARTIES AGREE TO COMPLY WITH SUCH OTHER LAWS TO THE EXTENT NECESSARY TO CONSUMMATE THE CONTRIBUTION AND SALE OF THE PROPERTY. IT IS THE PARTIES’
INTENT THAT THE PROVISIONS OF THIS AGREEMENT BE APPLIED TO THE PROPERTY IN A MANNER THAT RESULTS IN THE GREATEST CONSISTENCY POSSIBLE. 
 (b) For the purposes of any suit, action or proceeding involving this Agreement, the Contributor and the Partnership hereby expressly submit to the jurisdiction of all federal and state courts sitting in
the State of New York and consents that any order, process, notice of motion or other application to or by any such court or a judge thereof may be served within or without such court’s jurisdiction by registered mail or by personal service;
provided that a reasonable time for appearance is allowed, and the Partnership agrees that such courts shall have the exclusive jurisdiction over any such suit, action or proceeding commenced by any party. In furtherance of such agreement, the
Partnership agrees upon the request of any party to discontinue (or agree to the discontinuance of) any such suit, action or proceeding pending in any other jurisdiction. 

  
 55 

 (c) The Partnership hereby irrevocably waives any objection that the Partnership may now
or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement brought in any federal or state court sitting in the State of New York and hereby further irrevocably waives any claim that any
such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 
 (d) EACH PARTY HEREBY
WAIVES, IRREVOCABLY AND UNCONDITIONALLY, TRIAL BY JURY IN ANY ACTION BROUGHT ON, UNDER OR BY VIRTUE OF OR RELATING IN ANY WAY TO THIS AGREEMENT OR ANY OF THE DOCUMENTS EXECUTED IN CONNECTION HEREWITH, THE PROPERTY, OR ANY CLAIMS, DEFENSES, RIGHTS OF
SET-OFF OR OTHER ACTIONS PERTAINING HERETO OR TO ANY OF THE FOREGOING. 
 13.10 Performance on Business Days. All time
periods expire at 5:00 p.m. Eastern Time on the last day of such time period. In the event the date on which performance or payment of any obligation of a party required hereunder, or the expiration of each period of time hereunder, is other than a
Business Day, the time for payment or performance, or the expiration of such time period, shall automatically be extended to the first Business Day following such date. 
 13.11 Attorneys’ Fees. If any lawsuit or arbitration or other legal proceeding arises in connection with the interpretation or enforcement of this Agreement, the prevailing party therein shall
be entitled to receive from the other party the prevailing party’s costs and expenses, including reasonable attorneys’ fees, incurred in connection therewith, in preparation therefor and on appeal therefrom, which amounts shall be included
in any judgment therein. 
 13.12 Relationship. Nothing herein contained shall be deemed or construed by the parties
hereto, nor by any third party, as creating the relationship of principal and agent or of partnership or joint venture between the parties hereto, it being understood and agreed that (except as and to the extent specifically provided for herein) no
provision contained herein, nor any acts of the parties hereto shall be deemed to create the relationship between the parties hereto other than the relationship of contributor and acquiror. 

13.13 Section and Other Headings. The headings contained in this Agreement are for reference purposes only and shall not in any
way affect the meaning or interpretation of this Agreement. 
 13.14 Further Assurances. At and after the Initial Closing
Date and the Subsequent Closing Date, the parties agree to execute and deliver such documents and other papers and take such further actions as may be reasonably required to carry out the provisions of this Agreement and the other Transaction
Documents and to make effective the transactions contemplated hereby. 
 13.15 Force Majeure. “Force
Majeure” shall mean any Act of God, earthquake, hurricane, flood, fire, or extraordinary weather condition; riot, war, or order of a civil, military or naval authority; strikes, labor disputes, or any other course of events reasonably
beyond Buyer’s or the Contributor’s control. In the event that either party shall claim a delay based upon Force 

  
 56 

 
Majeure, such party shall immediately advise the other of the commencement and resolution of any Force Majeure event. All time periods shall be extended for the period of time during which the
Force Majeure event existed. Such party’s failure to timely advise the other of a Force Majeure event shall be deemed a waiver of such party’s right to claim Force Majeure with respect to such event. 

13.16 Time of Essence. Time is of the essence of this Agreement, and of each and every provision hereof, and in the performance of
all conditions and covenants to be performed or satisfied by any party hereto. 
 13.17 Contributor’s
Representative. If at any time the Contributor’s Representative ceases to be the manager of the Contributor, then the Contributor hereby irrevocably constitutes and appoints the Contributor’s Representative, acting singly, as its true
and lawful agent, proxy and attorney-in-fact and authorizes the Contributor’s Representative acting for the Contributor and in the Contributor’s name, place and stead, in any and all capacities to do and perform every act and thing
reasonably necessary or desirable to be done in connection with the transactions contemplated hereby, as fully to all intents and purposes as the Contributor might or could do in person, except to the extent that this Agreement specifically provides
for an action to be taken by or for, or a notice to be delivered to, the Contributor, including for the purposes of: (i) performing the duties of the Contributor’s Representative as set forth in this Agreement; (ii) accepting from the
Partnership the payment of the Agreed Contribution Value, and distributing to the Contributor its portion of such funds; (iii) changing the time, date or place of the Initial Closing or Subsequent Closing; (iv) granting any consent or
waiver required or desired of the Contributor by the Partnership pursuant to this Agreement; (v) representing the Contributor in connection with any indemnification related matter, including disputing or settling any claim by the Partnership;
(vi) determining the presence (or absence) of claims for payment pursuant to this Agreement or any agreement executed in connection herewith; (vii) to engage and employ agents and representatives (including accountants, legal counsel and
other professionals) and to incur such other expenses as the Contributor’s Representative reasonably deems necessary or prudent in connection herewith; and (viii) taking any action and executing and delivering all documents contemplated by
this Agreement and any other instruments which the Contributor’s Representative may deem necessary or advisable to accomplish the purposes of this Agreement. The Contributor hereby grants unto the Contributor’s Representative full power
and authority to do and perform each and every act as is described under this Section 13.17, as fully to all intents and purposes as the Contributor might or could do in person, hereby ratifying and confirming all that the
Contributor’s Representative has lawfully done consistent herewith and may lawfully do or cause to be done by virtue hereof. The Contributor hereby agrees by executing this Agreement that the foregoing agency, proxy and power of attorney are
coupled with an interest, and are therefore irrevocable without the consent of the Contributor’s Representative and shall survive the bankruptcy of such Person. The Contributor hereby acknowledges and agrees that upon execution of this
Agreement any delivery by the Contributor’s Representative of any waiver, amendment, agreement, opinion, certificate or other documents executed by the Contributor’s Representative in accordance with this Section 13.17 or any
decisions made by the Contributor’s Representative in accordance with this Section 13.17 shall be binding on such Person as fully as if such Person had executed and delivered such documents or made such decisions. The
Contributor’s Representative shall not have by reason of this Agreement a fiduciary relationship in respect of the Contributor, except in 

  
 57 

 
respect of amounts received by Contributor’s Representative on behalf of the Contributor. The Contributor’s Representative shall not be liable to the Contributor for any action taken or
omitted by it or any agent employed by it under this Agreement or any other agreement executed in connection herewith or therewith, except that the Contributor’s Representative shall not be relieved of any liability imposed by law for gross
negligence or willful misconduct. The Contributor’s Representative shall not be liable to the Contributor for any apportionment or distribution of payments made by it in good faith, and, if any such apportionment or distribution is subsequently
determined to have been made in error, the sole recourse of the Contributor to whom payment was due, but not made, shall be to recover from the other Contributor, as applicable, any payment in excess of the amount to which they are determined to
have been entitled pursuant to this Agreement. The actions of the Contributor’s Representative are fully and completely binding and the Partnership is entitled to rely upon the provisions of this Section 13.17. 

13.18 All or Nothing Transaction. Pursuant to the terms of this Agreement, the Contributor agrees to contribute to the
Partnership, and the Partnership agrees to receive from Contributor, all of the Interests of the Contributed Entity in consideration for the Agreed Contribution Value. The sale of the Interests shall be on an “all or nothing” basis,
and the Partnership shall not be required to consummate the transactions contemplated by this Agreement unless the Contributor conveys all of the Interests to the Partnership. 
 13.19 Survival. Except for the provisions of this Agreement which are expressly intended to survive the termination of this Agreement or the Subsequent Closing, the rights and obligations of each
party hereto shall not survive the termination of this Agreement or the Subsequent Closing. 
 13.20 ATA’s SEC
Filings. The Contributor acknowledges that the Partnership is a subsidiary of ATA, which is a publicly registered company that is required to disclose the existence of this Agreement upon full execution and to make certain filings with the
Securities and Exchange Commission (the “SEC Filings”) that may include audited and unaudited financial statements with respect to the Property, the Property Owner, the Contributed Entity and their Subsidiaries, including the most
recent pre-acquisition fiscal year (the “Audited Year”) and the current fiscal year through the date of acquisition (the “Stub Period”) for the Property. To assist ATA in preparing the SEC Filings and any required
audited financial statements, the Contributor agrees to (a) within thirty (30) days after the date of this Agreement, and at ATA’s request, any time thereafter until the first anniversary of the Subsequent Closing Date, deliver an
audit inquiry letter regarding pending litigation and other matters in the form attached hereto as Exhibit I (the “Audit Inquiry Letter”) to the Contributor’s counsel prior to Subsequent Closing and deliver to ATA
an executed letter from such counsel in response to the Audit Inquiry Letter as soon as reasonably practicable thereafter, (b) at ATA’s request at any time until the first anniversary of the Subsequent Closing Date, deliver a
representation letter in the form requested by ATA’s auditors to ATA, and (c) provide ATA, within thirty (30) days after the date of this Agreement, such financial and other data and information relating to the Property, the Property
Owner, the Contributed Entity and their Subsidiaries as ATA and its registered independent accounting firm may reasonably require in order to enable ATA and its registered independent accounting firm to prepare such audited and unaudited financial
statements with respect to the Contributed Property, the Property Owner, the Contributed Entity and their Subsidiaries as ATA 

  
 58 

 
deems necessary to include in its SEC Filings, including but not limited to (i) access to bank statements for the Audited Year and Stub Period, (ii) Rent Roll as of the end of the
Audited Year and Stub Period, (iii) operating statements for the Audited Year and Stub Period (iv) access to the general ledger for the Audited Year and Stub Period, (v) cash receipts schedule for each month in the Audited Year and
Stub Period, (vi) access to invoices for expenses and capital improvements in the Audited Year and Stub Period, (vii) accounts payable ledger and accrued expense reconciliations in the Audited Year and Stub Period, (viii) check
register for the three (3) months following the Audited Year and Stub Period, (ix) copies of all insurance documentation for the Audited Year and Stub Period, (x) copies of accounts receivable aging as of the end of the Audited Year
and Stub Period along with an explanation for all accounts over thirty (30) days past due as of the end of the Audited Year and Stub Period, (xi) an executed assurance or representation letter from the Contributor to ATA’s registered
independent accounting firm in a form acceptable to ATA (provided that in no event shall the Contributor have any liability to ATA or such registered independent accounting firm for the assurances or representations made therein, but the Contributor
shall reasonably cooperate, at no cost or expense to the Contributor, in connection with such audit, including, if required by ATA’s registered independent accounting firm, answering a standard Statement on Auditing Standards No. 99
questionnaire from such registered independent accounting firm). The provisions of the foregoing Section shall survive the Subsequent Closing for a period of 365 days. The Partnership or ATA shall reimburse the Contributor for its actual and
documented out-of-pocket expenses in connection with compliance with this Section. 
 13.21 Legends. 

(a) For as long as the OP Units and the ATA Common Stock, if any, issued pursuant to this Agreement are not registered under the
Securities Act, each certificate evidencing such securities shall be stamped or otherwise imprinted with a legend in substantially the following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, PLEDGED OR HYPOTHECATED IN THE UNITED STATES IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS
AVAILABLE.” 
 (b) In addition to any legends required by the Charter, for as long as the ATA Common Stock, if any, issued
pursuant to this Agreement or upon the redemption of OP Units issued pursuant this Agreement is subject to the restrictions set forth in the Governance Agreement and the Registration Rights Agreement, each certificate evidencing such securities
shall be stamped or otherwise imprinted with a legend in substantially the following form: 
 “THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO CERTAIN TRANSFER AND OTHER RESTRICTIONS 

  
 59 

 
SET FORTH IN THE CORPORATE GOVERNANCE, VOTING AND RESALE RESTRICTION AGREEMENT, DATED AS OF AUGUST 3, 2012, AND THE REGISTRATION RIGHTS AGREEMENT, DATED AS OF AUGUST 3, 2012, RELATING TO
APARTMENT TRUST OF AMERICA, INC. AND, AMONG OTHER THINGS, MAY NOT BE OFFERED OR SOLD EXCEPT IN COMPLIANCE WITH SUCH RESTRICTIONS. COPIES OF SUCH AGREEMENTS ARE ON FILE WITH THE SECRETARY OF THE ISSUER AND ARE AVAILABLE WITHOUT CHARGE UPON WRITTEN
REQUEST THEREOF. THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY ALL OF THE PROVISIONS OF THE AFORESAID AGREEMENTS.” 
 If any such shares of ATA Common Stock cease to be subject to the restrictions referred to above, the Company shall, upon the written request of the holder thereof, issue to such holder a new certificate
evidencing such shares of ATA Common Stock without the legends required by this Section 13.21(b) endorsed thereon. 

[SIGNATURES APPEAR ON THE FOLLOWING PAGES] 

  
 60 

 IN WITNESS WHEREOF, the parties have caused this Contribution and Sale Agreement to
be executed as a sealed instrument as of the Effective Date. 
  

			
	PARTNERSHIP:
	
	APARTMENT TRUST OF AMERICA HOLDINGS, L.P., a Virginia limited partnership
		
	By:	 	 Apartment Trust of America, Inc.,
 a Maryland corporation

	Its:	 	General Partner

 
							
		 	
				
		 		 	By:	 	 /s/ Stanley J. Olander, Jr.

		 		 	Name:	 	Stanley J. Olander, Jr.
		 		 	Title:	 	 Chief Executive Officer and

Chairman of the Board of Directors

 
			
	
	ATA:
	
	 APARTMENT TRUST OF AMERICA, INC., a
 Maryland corporation

		
	By:	 	 /s/ Stanley J. Olander, Jr.

	Name:	 	Stanley J. Olander, Jr.
	Title:	 	 Chief Executive Officer and

Chairman of the Board of Directors

  

[Signature Page of Bay Breeze Interest Contribution Agreement] 

 
			
	 CONTRIBUTOR’S REPRESENTATIVE:
  

DEBARTOLO DEVELOPMENT, LLC, a Delaware limited liability company

 

		
	 By:
	 	 /s/ Edward M. Kobel

	 Name:
	 	Edward M. Kobel
	 Title:
	 	Manager
	
	CONTRIBUTOR:
	
	DK BAY BREEZE, LLC, a Florida limited liability company
		
	By:	 	DeBartolo Development, LLC
	Its:	 	Manager

 
					
			
		 	By:	 	 /s/ Edward M. Kobel

		 	Name:	 	Edward M. Kobel
		 	Title:	 	Manager

  

[Signature Page of Bay Breeze Interest Contribution Agreement] 

 Exhibit A 
 Legal Description of the Land 
 A parcel of land situated in Lee County, Florida, being a
part of Government Lot 2, Section 2, Township 46 South, Range 23 East, and further bounded and described as follows: 
 The Westerly
1002.80 feet of said Government Lot 2, LESS AND EXCEPT the Northerly 25.00 feet thereof for roadway purposes. 

  
 1 

  

 Exhibit B 
 Rent Roll 
  

  
 1 

 Exhibit C 
 Existing Loan Documents 
  

	1.	Promissory Note dated September 12, 2011, by Bay Breeze Sonesta, LLC, a Florida limited liability company (“Borrower”) in the original principal amount
of $9,191,946.35 made payable to USAMERIBANK, a Florida banking corporation (the “Lender”). 

  

	2.	Mortgage and Security Agreement dated June 3, 2010, as amended by that certain Notice of Future Advance and Mortgage Modification Agreement dated
September 12, 2011 and affecting the Property. 

  

	3.	Guaranty Agreement dated as of September 12, 2011, by DeBartolo Development, LLC, a Delaware limited liability company in favor of Lender.

  
 1 

 Exhibit D 
 Form of Tax Protection Agreement 

  
 1 

 Exhibit E 
 Form of Assignment and Assumption Agreement 

  
 1 

 Exhibit F 
 Form of Interest Assignments 
  

  
 1 

 Exhibit G 
 Loan Indemnification Agreement 

 Exhibit H 
 Release of Claims 
  

 Exhibit I 
 Form of Audit Inquiry Letter 

 Exhibit J 
 Form of Joinder to Registration Rights Agreement 
  

 Exhibit K 
 Form of Amendment to Partnership Agreement 

 Exhibit L 
 Form of Governance Agreement 

 Exhibit M 
 Form of Articles Supplement 

 Exhibit N 
 Form of Cash Investment Agreement 
  

 Exhibit O 
 Form of Escrow Agreement 

 Exhibit P 
 Form of Joinder to Partnership Agreement 

 Schedule 1 
 List of Other Contribution Agreements 
  

	1.	Interest Contribution Agreement dated August 3, 2012 by and among DK Esplanade, LLC and DK Esplanade II, LLC, as Contributors, DeBartolo Development, LLC, as
Contributors’ Representative, Apartment Trust of America Holdings, L.P., and Apartment Trust of America, Inc., pertaining to the Esplanade Apartments in Orlando, Florida. 

 

	2.	Interest Contribution Agreement dated August 3, 2012 by and among DK Gateway Andros II, LLC, as Contributor, DeBartolo Development, LLC, as Contributor’s
Representative, Apartment Trust of America Holdings, L.P., and Apartment Trust of America, Inc., pertaining to the Andros Isles Apartments in Daytona Beach, Florida. 

 Schedule 2.2(c) 

Objections List 
  

 Schedule 3.2(c)(ii) 

List the Contributor if Eligible for Tax Protection 

 

	1.	DK Bay Breeze, LLC 

 Schedule 6.1(b) 

Capitalization and Title to Interests 
  

									
	 Owner of Interests in Contributed Entity
	  	 	  	 Percentage Ownership in
	  	 
	 	  	 	  	 Contributed Entity
	  	 
	DK Bay Breeze, LLC	  	 	  	 	  	100%	  	 
		  		  	Total:	  	100%	  	

 Schedule 6.1(d) 

List of Subsidiaries 
 None 

 Schedule 6.1(i) 

Leased FF&E 

 Schedule 6.1(j) 

Schedule of Non-Terminable Contracts 

 Schedule 6.1(l) 

Litigation 

 Schedule 6.2 

Due Diligence Material 
  

	1.	Property Conditions Reports 

	2.	Certificates of Occupancy 

	3.	Site Plans and Floor Plans 

	4.	As-Built Plans and Specifications 

	5.	Property Photographs 

	6.	Preliminary Title Report, Title Policies, and Underlying Title Documents 

	7.	Existing Surveys 

	8.	Zoning Compliance Reports and Zoning Compliance Letters 

	9.	Rent Roll 

	10.	Income and Expense Statements, Year End Financial and monthly Operating Statements for 2009 – 2011 and 2012 Year to Date 

	11.	2012 Operating Budget 

	12.	Report of Past 3 Years’ Capital Improvements 

	13.	Capital Budget for Forward 3 Years 

	14.	Aged Delinquency Report 

	15.	Lease Expiration Report 

	16.	Security Deposit and Pet Deposit Reports 

	17.	General Ledger Report 

	18.	Service, Maintenance, Repair, Leasing, Pest Control, Supply and Management Contracts, and Equipment Leases 

	19.	Utility Bills (past 2 years) 

	20.	Utility Permits and Deposits 

	21.	Property Tax Bills and All Assessments (past 3 years) 

	22.	All Environmental Reports and any other environmental related inspections or mitigation reports 

	23.	All Engineering/Physical Condition/Soils Reports 

	24.	Termite Report and Termite Bond 

	25.	Copies of pending insurance claims 

	26.	Personal Property and Inventory List 

	27.	ADA Report 

	28.	All Warranties and Guarantees 

	29.	Standard Lease Form 

	30.	Resident Demographic Report 

	31.	Permits, Licenses, and Governmental Approvals 

	32.	Insurance Certificate and a statement of insurance coverage and premiums by policy type and copies of insurance policies for the fire, extended coverage and
public liability insurance maintained by or for the benefit of the Property or the Property Owner 

	33.	All contracts for repair or capital replacement covering work performed at the Real Property during the immediately preceding three (3) years if the
contract price was in excess of $10,000 

	34.	Seismic Report (if any) 

	35.	Flood Insurance (if any) 

	36.	Litigation or Condemnation Proceedings (if any) 

	37.	Tenant Leases (to be available at the property) 

 Schedule 8.8 
 Required Capital Improvements 

  
 88

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