Document:

Form of the 5.800% Notes due 2040

 EXHIBIT 4.3 

WELLPOINT, INC. 
 THIS
GLOBAL SECURITY IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (II)
THIS GLOBAL SECURITY MAY BE EXCHANGED PURSUANT TO SECTION 203(a) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED
TO A SUCCESSOR DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 WELLPOINT, INC. 

5.800% Notes due 2040 
  

			
		  	CUSIP No. 94973V AT4
	No. [    ]	  	$[            ]

WellPoint, Inc., a corporation duly organized and existing under the laws of the State of Indiana (herein called the “Company”,
which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[            ] Dollars, as adjusted from time to time in accordance with the Indenture (as defined herein) and indicated on the schedule of exchanges of interests in the global security
attached hereto, on August 15, 2040 and to pay interest thereon from August 12, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on February 15 and
August 15 in each year, commencing February 15, 2011, at the rate of 5.800% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be
the February 1 or August 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on
such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holder of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Company
maintained for that purpose in The City of New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
  

			
	WELLPOINT, INC.
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

  

	
	Attest:
	
	  

	Name:
	Title:

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	  

		 	Authorized Signatory

 This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of January 10, 2006 (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between
the Company and The Bank of New York Mellon Trust Company, N.A. (formerly The Bank of New York Trust Company, N.A.), as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and
reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate principal amount to $[            ]. 

The Company will have the right to redeem the Securities at any time, at its option, on at least 30 days’ but no more than 60
days’ prior written notice mailed to the registered holders of the Securities to be redeemed. Upon redemption of the Securities, the Company will pay a redemption price equal to the greater of (i) 100% of the principal amount of such
Securities to be redeemed and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of the notes to be redeemed, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate (as defined below), plus 30 basis points, plus accrued and unpaid interest thereon to the Redemption Date. 

“Treasury Rate” means, for any redemption date, the rate per annum equal to the semi annual equivalent yield to
maturity, computed as the second Business Day immediately preceding that redemption date, of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for that redemption date. 
 “Comparable Treasury Issue” means the United States
Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes to be redeemed. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the bid and asked prices
for the Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, on the third Business Day preceding such redemption date, as contained in the daily statistical release, or any successor release, published by the
Federal Reserve Bank of New York and designated “Composite 3:30 p.m. Quotations for U.S. Government Securities” or (2) if the release, or any successor release, is not published or does not contain these prices on that Business Day,
(a) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations, or (b) if the trustee obtains fewer than four Reference Treasury
Dealer Quotations, the average of all of these quotations. 
 “Independent Investment Banker” means the
Reference Treasury Dealer appointed by the Company. 

 “Reference Treasury Dealer” means each of Goldman, Sachs & Co. and
UBS Securities LLC and their respective successors, or if at any time any of the above is not a primary U.S. Government securities dealer, any other nationally recognized investment banking firm selected by the Company that is a primary U.S.
Government securities dealer, as well as four other nationally recognized investment banking firms selected by the Company that are primary U.S. Government securities dealers. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date,
the average, as determined by the trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the trustee by such Reference Treasury Dealer at 5:00
p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Remaining Scheduled
Payments” means, with respect to each note to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related redemption date for such redemption; provided, however, that, if
such redemption date is not an interest payment date with respect to such note, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such redemption date. 

In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the
unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 If less than all the
Securities are to be redeemed, the Securities to be redeemed shall be selected by the trustee by such method as the trustee deems fair and appropriate. Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date,
interest will cease to accrue on the Securities or portions thereof called for redemption. 
 If a Change of Control Triggering
Event occurs, unless the Company has exercised its right to redeem the Securities in full, the Company will make an offer to each holder (the “Change of Control Offer”) to repurchase any and all (equal to $2,000 or an integral multiple of
$1,000 in excess of $2,000) of such holder’s Securities at a repurchase price in cash equal to 101% of the aggregate principal amount of the Securities repurchased plus accrued and unpaid interest, if any, thereon, to the date of purchase (the
“Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Company will be required to mail a notice to holders of Securities describing the transaction or transactions that constitute the Change of
Control Triggering Event and offering to repurchase the Securities on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment
Date”), pursuant to the procedures required by the Securities and described in such notice. The Company must comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and
any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Securities as a result of a Change of Control Triggering Event. To the extent that the provisions
of any securities laws or regulations conflict with the Change of Control repurchase provisions of the Securities, the Company will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its
obligations under the Change of Control repurchase provisions of the Securities by virtue of such conflicts. 

 On the Change of Control Payment Date, the Company will be required, to the extent lawful,
to accept for payment all Securities or portions of Securities properly tendered pursuant to the Change of Control Offer; deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Securities or portions of
Securities properly tendered; and deliver or cause to be delivered to the Trustee the Securities properly accepted, together with an officer’s certificate stating the principal amount of Securities or portions of Securities being purchased.

 The Trustee shall have no duty to monitor or determine whether or not a Change of Control Triggering Event (or any
of its components) has occurred. The Trustee may conclusively presume that a Change of Control Triggering Event (or any of its components) has not occurred, unless and until notified to the contrary by the Company or by the Holders of
the Securities of this series in the manner provided in the Indenture. 
 For purposes of the foregoing discussion of the
applicable Change of Control provisions, the following definitions are applicable: 
 “Below Investment Grade Rating
Event” means the Securities are rated below an Investment Grade Rating by each of the Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could reasonably be expected to result in a
Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Securities is under publicly announced consideration for
possible downgrade by any of the Rating Agencies), provided, however, that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating will not be deemed to have occurred in respect of a particular Change of
Control (and thus will not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Triggering Event) if the rating agencies making the reduction in rating to which this definition would otherwise apply do
not announce or publicly confirm or inform the trustee in writing at its request or the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect
of, the applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of the Below Investment Grade Rating Event). 

“Change of Control” means the occurrence of any of the following: (1) direct or indirect sale, transfer, conveyance
or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of WellPoint and its subsidiaries taken as a whole to any “person” (as
that term is used in Section 13(d)(3) of the Exchange Act) other than to WellPoint or one of its subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that
any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of WellPoint’s voting stock; or
(3) the first day on which a majority of the members of WellPoint’s Board of Directors are not Continuing Directors; provided, however, that a transaction will not be deemed to involve a Change of Control if the Company becomes a wholly
owned subsidiary of a holding company and the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the voting stock of the Company immediately prior to that
transaction. For purposes of this definition, “voting stock” means capital stock of any class or kind the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons
performing similar functions) of WellPoint, even if the right to vote has been suspended by the happening of such a contingency. 

 “Change of Control Triggering Event” means the occurrence of both a Change
of Control and a Below Investment Grade Rating Event. 
 “Continuing Directors” means, as of any date of
determination, any member of the Board of Directors of WellPoint who (1) was a member of the Board of Directors of WellPoint on the date of the issuance of the notes; or (2) was nominated for election or elected to the Board of Directors
of WellPoint with the approval of a majority of the Continuing Directors who were members of such Board of Directors of WellPoint at the time of such nomination or election (either by specific vote or by approval of WellPoint’s proxy statement
in which such member was named as a nominee for election as a director, without objection to such nomination). 

“Fitch” means Fitch Ratings, Inc. 

“Investment Grade Rating” means a rating by Moody’s equal to or higher than Baa3 (or the equivalent under a
successor rating category of Moody’s), a rating by S&P equal to or higher than BBB- (or the equivalent under any successor rating category of S&P) or a rating by Fitch equal to or higher than BBB- (or the equivalent under any successor
rating category of Fitch). 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Rating Agencies” means (1) Moody’s, S&P and Fitch; and (2) if any or all of Moody’s, S&P or
Fitch ceases to rate the notes or fails to make a rating of the notes publicly available for reasons outside the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Rule
15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for any of Moody’s S&P or Fitch, or all of them, as the case may be.

 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
Inc. 
 The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain
restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this
series may be declared due and payable in the manner and with the effect provided in the Indenture. 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof
and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver
by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture,
the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the
Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to
the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal
amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing
shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security may be registered and
this Security may be exchanged as provided in the Indenture. 
 The Securities of this series are issuable only in registered
form without coupons in denominations of $2,000 and any integral multiples of $1,000 in excess of $2,000. 
 No service charge
shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 

 All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture. 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 

I or we assign and transfer this Security to: 
  

 
 (Insert assignee’s social
security or tax I.D. no.) 
  
  

 
  
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                        
             as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 
  
  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the other side of this Security)

 

			
	Your Name:	 	  

Date:
                                        

  

			
	Signature Guarantee:	 	 *

 

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature guarantee programs: (i) The Securities
Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee.

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or exchanges of
an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global Security	  	Amount of
increase in
Principal
Amount of this
Global Security	  	Principal
Amount of this
Global Security
following such
decrease or
increase	  	Signature of
authorized
signatory of
Trustee or
Securities
CustodianSIXTH CONSOLIDATED AMENDATORY AGREEMENT

 Exhibit 10.1 

SIXTH CONSOLIDATED AMENDATORY AGREEMENT 

This Sixth Consolidated Amendatory Agreement (“Amendment”) is made and entered into as of
May 24, 2010, by and between WELLS MID-HORIZON VALUE - ADDED FUND I, LLC, a Georgia limited liability company, whose address is 6200 The Corners Parkway, Suite 250, Norcross, Georgia 30092 (“Borrower”), and
BANK OF AMERICA, N.A., a national banking association (as successor by merger to LaSalle Bank National Association), whose place of business is Bank of America Plaza, Suite 600, 600 Peachtree Street, N.E., Atlanta, Georgia 30308, Attn:
Commercial Real Estate Banking (“Administrative Agent”); 
 W I T N E
S S E T H : 
 WHEREAS, Administrative Agent, certain other financial
institutions from time to time party thereto (“Lenders”), and Borrower, have entered into that certain Credit Agreement dated as of June 30, 2006, as amended by that certain First Consolidated Amendatory Agreement dated as of
November 21, 2008, by and between Administrative Agent and Borrower, as further amended by that certain Second Consolidated Amendatory Agreement dated as of June 30, 2009, by and between Administrative Agent and Borrower, as further
amended by that certain Third Consolidated Amendatory Agreement dated as of September 30, 2009, by and between Administrative Agent and Borrower, as further amended by that certain Fourth Consolidated Amendatory Agreement dated as of
December 4, 2009, by and between Administrative Agent and Borrower, and as further amended by that certain Fifth Consolidated Amendatory Agreement dated as of February 24, 2010, by and between Administrative Agent and Borrower (as amended
and as it may hereafter be further amended, modified, supplemented, restated, extended, or renewed and in effect from time to time, the “Credit Agreement”), which Credit Agreement sets forth the terms and conditions of a loan from
Administrative Agent and Lenders to Borrower an the original principal amount up to Twenty-Five Million and No/100 Dollars ($25,000,000.00) (the “Loan”); 

WHEREAS, the Loan is evidenced by that certain Note dated as of June 30, 2009 and, potentially, certain additional
Notes upon and of such other date that any additional financial institution becomes a Lender under the Credit Agreement, executed by Borrower and payable to the order of each Lender in the aggregate principal face amount of Twenty-Five Million and
No/100 Dollars ($25,000,000.00) (such notes, as they may hereafter be renewed, extended, supplemented, increased or modified in effect from time to time, and all other notes given in substitution therefor, or in modification, renewal or extension
thereof, in whole or in part, are hereinafter collectively called the “Note”); 
 WHEREAS, to
secure, inter alia, the Loan, Borrower or one or more of its Subsidiaries (as defined in the Credit Agreement) has made, executed, and delivered to Administrative Agent for the benefit of Lenders one or more mortgages, deeds of trust,
leasehold mortgages or similar security instruments granting Administrative Agent a lien on certain real property owned, directly or indirectly, by Borrower or such Subsidiary (each such security instrument, as so amended, and as it may hereafter be
renewed, extended, supplemented, increased or modified and in effect from time to time, and all other security instruments given in substitution therefor, or in modification, renewal or extension thereof, in whole or in part, is herein called the
“Mortgage”); 
 WHEREAS, the Loan, as extended, matures on May 30, 2010, unless extended
as provided therein and Borrower, Administrative Agent and Lenders desire to confirm the extension in accordance with the terms thereof and make certain other amendments to the Credit Agreement; and 

WHEREAS, Administrative Agent and Lenders have agreed to amend the Credit Agreement and the other Loan Documents as
hereinafter provided. 
  

 WELLS MID-HORIZON VALUE ADDED FUND I 

SIXTH CONSOLIDATED AMENDATORY AGREEMENT 

PAGE 1 

 NOW, THEREFORE, in consideration of the premises, the mutual covenants
contained herein, and the sum of Ten and No/100 Dollars ($10.00), paid in hand by each party to the other, the receipt, adequacy and sufficiency of all of which are hereby acknowledged, the parties agree as follows: 

1.        Amendment of Credit Agreement.  The Credit Agreement
is hereby amended as follows: 
  (a)      The definition of
“Company Portfolio Requirements” is hereby deleted in its entirety and all provisions or conditions of the Credit Agreement referring to the Company Portfolio Requirements are deleted and of no further force or effect. 

 (b)      The definition of “Termination Date” set
forth in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 

 Termination Date means the earlier to occur of (a) November 30,
2010 or (b) such other date on which the Commitments terminate pursuant to Section 6 or Section 13. 

 (c)      Section 2.6 of the Credit Agreement is hereby deleted in its
entirety and replaced with the following: 

 2.6      Extension of Scheduled Termination
Date.  Contemporaneously herewith the scheduled Termination Date has been extended to November 30, 2010 (the “Extended Termination Date”), and Borrower acknowledges and agrees that Borrower has no further
extension options under the Loan. 
  (d)      Section 6.4 of the
Credit Agreement is hereby deleted in its entirety and replaced with the following: 

 6.4      Repayments.  In addition to
monthly payments of interest required by the Loan Documents, principal payments in the amount of $16,033.16 shall be due and payable on the first day of each month commencing on December 1, 2009 through May 1, 2010, thereafter in addition
to monthly payments of interest required by the Loan Documents, principal payments in the amount of $15,048.45 shall be due and payable on the first day of each month commencing on June 1, 2010. The entire principal balance under the Loan then
unpaid shall be due and payable on the Termination Date or, if applicable, the Extended Termination Date. 

 (e)      Section 11.14.1 and Section 11.14.2 of the Credit Agreement and
Section 3 of the Fourth Amendment are hereby amended by deleting said Sections in their entirety and substituting in place and instead thereof the following: 

 11.14.1 Maximum Leverage Ratio.  As determined as of the last day
of each of the Company’s Fiscal Quarters commencing with Company’s Fiscal Quarter ending June 30, 2010, the Company and its Subsidiaries shall not permit the ratio (expressed as a percentage) of the Total Debt outstanding under the
Loan to the aggregate MAI “as is” appraised value of the Mortgage Collateral based on an appraisal provided to Administrative Agent in accordance with Section 2.8 of the Credit Agreement, as reviewed, adjusted and accepted by
Administrative Agent, to exceed seventy percent (70%). If at any time said ratio, as calculated by Administrative Agent in accordance with this Section 11.14.1, exceeds seventy percent (70%), Borrower shall pay to Administrative Agent on
demand a principal payment sufficient to reduce said loan-to-value to not more than seventy percent (70%). 
  

 WELLS MID-HORIZON VALUE ADDED FUND I 

SIXTH CONSOLIDATED AMENDATORY AGREEMENT 

PAGE 2 

 Section 11.14.2 Minimum Net Operating Income to
Interest Expense Ratio.    As determined as of the last day of each of its Fiscal Quarters commencing with Company’s Fiscal Quarter ending June 30, 2010, the Company and its Subsidiaries shall not permit the ratio
of (x) their Net Operating Income for the applicable Fiscal Quarter from the Mortgage Collateral to (y) the aggregate of all interest, charges and similar expenses paid by the Company and its Subsidiaries to Administrative Agent or any
Lender during such Fiscal Quarter in connection with borrowed money (or the deferred purchase price of assets that are treated as interest in accordance with GAAP) secured by the Mortgage Collateral, to be less than 1.50 to 1.00. 

Commencing with Fiscal Quarter ending June 30, 2010 and at all times thereafter, Borrower shall be in compliance with the covenants
set forth in said Sections 11.14.1 and 11.14.2. 
 (f)      Section 11.14.3
is hereby deleted in its entirety and substituted in place and in stead thereof is the following: 

The Company and its Subsidiaries shall not create, incur, assume or suffer to exist any Debt secured by
the Mortgage Collateral or cause or permit any mortgage, deed to secure debt or security agreement to convey or encumber any of the Mortgage Collateral other than the Liens in favor of Lenders securing the Loan. 

(g)      Sections 11.14.4 and 11.14.5 of the Credit Agreement are hereby deleted in their
entirety. 
 (h)      Exhibit B of the Credit Agreement is hereby deleted
in its entirety and substituted in place and in stead thereof is Exhibit B attached hereto and incorporated herein by reference. 

(i)      Notwithstanding anything to the contrary set forth in the Credit Agreement or the
other Loan Documents, Borrower and Administrative Agent hereby acknowledge and agree that the outstanding principal balance under the Loan is $22,056,703.80, and Borrower is not entitled to receive any additional advances under the Loan. 

(j)      That certain Deposit Account Control Agreement dated as of June 30, 2006, is
hereby terminated and of no further force or effect. 
 2.      Amendment of
Loan Documents.  The Loan Documents are further amended hereby such that all references therein to the “Note”, the “Credit Agreement”, the “Mortgage”, and the “Loan Documents” shall be deemed to
include all amendments and modifications thereto (including, without limitation, this Amendment), as may now exist or as may be hereafter executed by Borrower and Administrative Agent. 

3.      Representations and Warranties.  To induce Administrative Agent
and the Lenders to execute, deliver, and perform this Amendment, Borrower warrants and represents to Administrative Agent and the Lenders (which representations and warranties shall survive the termination of this Amendment) that: 

 

	3.1      	 This Amendment is not being made or entered into with the actual intent to hinder, delay, or defraud any entity or person, and after giving effect
to the indebtedness and obligations, direct and contingent, represented by this Amendment and the Loan Documents and the consummation of the transactions contemplated hereby, Borrower and each Owner are solvent, having assets of a fair saleable
value which exceed the amount required to pay such parties debts as they become absolute and matured (including contingent, subordinated, unmatured and unliquidated liabilities), and Borrower and each Owner are able

  

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to, and anticipate that it or he will be able to, meet its or his debts as they mature and have adequate capital to conduct the business in which it or he is or proposes to be engaged.

  

	3.2	 Borrower is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Georgia. Borrower is
duly authorized to execute, deliver and perform this Amendment and all other documents executed in connection herewith, and all company action on its part required for the execution, delivery and performance thereof has been duly taken.

  

	3.3	 No Proceeding (as defined below) or an attempt to take advantage of any other debtor relief law, has been instituted or threatened by or against
Borrower or any Owner. 

  

	3.4	 The execution of this Amendment by Borrower and the performance by Borrower of its obligations hereunder will not violate or result in a breach or
constitute a default under any agreements to which any of them are a party, under any organizational or governing documents, or under any law, regulation or order or decree of any court or other governmental instrumentality.

  

	3.5	 All information provided by Borrower to Administrative Agent prior to the date of this Amendment, including, without limitation, all financial
statements, balance sheets, and cash flow statements, was, at the date of delivery, and is, as of the date hereof, true and correct in all respects. Borrower recognizes and acknowledges that Administrative Agent and the Lenders are entering into
this Amendment based in part on the financial information provided to Administrative Agent by them and that the truth and correctness of that financial information is a material inducement to Administrative Agent and the Lenders in entering into
this Amendment. During the term of this Amendment, Borrower agrees to advise Administrative Agent promptly in writing of any and all new information, facts, or occurrences which would in any way materially supplement, contradict, or affect any
financial statements, balance sheets, cash flow statements, or similar items furnished to Administrative Agent. 

  

	3.6	 No default or event which, with the giving of notice or passage of time or both, would constitute a default has occurred or currently exists under
any of the Loan Documents. 

  

	3.7	 Each of the representations and warranties set forth in the Loan Documents is true and correct in all material respects on and as of the date hereof
as if made on the date hereof (except to the extend stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct as of such earlier date). 

 

	3.8	 Lender has a valid and perfected security interest in and to the Mortgage Collateral. 

 

	3.9	 The Note is not subject to any credits, charges, claims, or rights of offset or deduction of any kind or character whatsoever by Borrower or any
party other than the Lenders. 

4.        Distributions.  Until the expiration or termination of
the Commitments and thereafter until all obligations under the Loan Documents are paid in full, Borrower shall not, and shall not permit any Owner, to (i) declare or pay any dividends or other distributions (in cash or otherwise) to holders of
its Capital Securities or other equity interests therein, now or hereafter outstanding, or (ii) purchase, redeem, retire or otherwise acquire for value any of its own Capital Securities or other equity interests, now or hereafter outstanding.

 5.        General Release; Waiver of Claims.  In
consideration of, inter alia, Administrative Agent and the Lenders’ agreement to enter into this Amendment, Borrower and Owners agree not to sue upon or prosecute, and hereby release and discharge Administrative Agent and each
Lender from, any and all claims and causes of action, in tort or contract or of any other kind or character, whether known or unknown and whether now existing or hereafter arising, that have at any time been owned, or that are hereafter owned, that
arise out of any one or more 
  

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circumstances or events that occurred prior to the date hereof, including without limitation, any usury claims, or any remedy available under the Loan Documents or otherwise. Moreover, Borrower
and Owners waive any and all claims now or hereafter arising from or related to any delay by Administrative Agent or any Lender in exercising any rights or remedies under the Loan Documents, including, without limitation, any delay in foreclosing
any collateral securing the Loan. Borrower and Owners expressly acknowledge and agree that the release of Administrative Agent and the Lenders, as set forth in this Section 5, is not and shall not be construed as an admission of
wrongdoing, liability or culpability on the part of Administrative Agent or any Lender, or as an admission by Administrative Agent or any Lender of the existence of any claims of any of Borrower or Owners against Administrative Agent or any Lender.
Borrower and Owners further acknowledge that, to the extent that any such claims may exist, they are speculative and not liquidated. In any event, Borrower and Owners acknowledge and agree that the value to Borrower and Owners of Administrative
Agent and Lenders’ covenants and agreements as set forth in this Amendment are in excess of, and constitutes more than, “reasonably equivalent value” for any and all claims and liabilities released by Borrower and Owners hereunder.
For purposes of this Section 5 “Administrative Agent” and “Lender” shall include Administrative Agent or each Lender as applicable their affiliates, subsidiaries, shareholders and “controlling persons”
(within the meaning of the federal securities laws), and their respective successors and assigns and each of their respective directors, shareholders, officers, agents, servants, employees, attorneys, financial advisors, branches,
affiliates, subsidiaries, predecessors, successors and assigns and all persons, firms, corporations, and other representatives and organizations acting on any of their behalves in their capacities as such. 

The provisions of this paragraph shall survive the termination of this Amendment and the Loan Documents. 

6.        Bankruptcy. 

 (a)      In entering into this Amendment, Borrower, Administrative Agent and Lenders
hereby stipulate, acknowledge and agree that Administrative Agent and Lenders gave up valuable rights and agreed to extend the Termination Date of the Loan in exchange for the promises, representations, acknowledgments and warranties of Borrower as
contained herein and that Administrative Agent and Lenders would not have entered into this Amendment but for such promises, representations, acknowledgments, agreements, and warranties, all of which have been accepted by Administrative Agent and
the Lenders in good faith, the breach of which by Borrower in any way, at any time, now or in the future, would admittedly and confessedly constitute cause for dismissal of any such bankruptcy petition pursuant to 11 U.S.C. § 1112(b).

  (b)      As additional consideration for Administrative Agent and Lenders
agreeing to extend the Termination Date of the Loan, Borrower and the Owners agrees that in the event a bankruptcy petition under any Chapter of the Bankruptcy Code (11 U.S.C. §101, et seq.) is filed by or against Borrower or any Owner
at any time after the execution of this Amendment, Administrative Agent shall be entitled to the immediate entry of an order from the appropriate bankruptcy court granting Administrative Agent complete relief from the automatic stay imposed by
§362 of the Bankruptcy Code (11 U.S.C. §362) to exercise its foreclosure and other rights, including, but not limited to, obtaining a foreclosure judgment and foreclosure sale, upon the filing with the appropriate court of a motion for
relief from the automatic stay with a copy of this Amendment attached thereto. Borrower and the Owners specifically agree (i) that upon filing a motion for relief from the automatic stay, Administrative Agent shall be entitled to relief from
the stay without the necessity of an evidentiary hearing and without the necessity or requirement of Administrative Agent to establish or prove the value of any property, the lack of adequate protection of its interest in the property, or the lack
of equity in the property; (ii) that the lifting of the automatic stay hereunder by the appropriate bankruptcy court shall be deemed to be “for cause” pursuant to §362(d)(1) of the Bankruptcy Code (11 U.S.C. §362(d)(1)); and
(iii) that neither Borrower nor and Owner will directly or indirectly oppose or otherwise defend against Administrative Agent’s efforts to gain relief from the automatic stay. Any contrary action taken by Borrower or any Owner with respect
to the matters set forth in this sub-section (b) shall be deemed to be in bad faith and is agreed to constitute violations of Federal Rules of Civil Procedure 11 

 

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and Bankruptcy Rule 9011. This provision is not intended to preclude Borrower and/or any Owner from filing for protection under any Chapter of the Bankruptcy Code. The remedies prescribed in this
paragraph are not exclusive and shall not limit Administrative Agent’s or the Lenders’ rights under the Loan Documents, this Amendment or under any law. 

 (c)      Borrower and Owners are sophisticated real estate developers and have been
represented by independent counsel in negotiating and entering into this Amendment, and agreeing to the waivers set forth in this Section 6, and all of the above terms and conditions have been freely bargained for and are all supported
by reasonable and adequate consideration and the provisions herein are material inducements for Administrative Agent and the Lenders entering into this Amendment. 

 (d)      For the purposes of this Section 6, a “Proceeding”
shall mean: (a) any voluntary or involuntary case, action or proceeding before any court or other governmental authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of
debtors, or (b) any general assignment for the benefit of creditors, composition, marshalling of assets for creditors, or other, similar arrangement in respect of its creditors, generally or any substantial portion of its creditor; undertaken
under U.S. Federal, state, or foreign law, including the Bankruptcy Code. 

 (e)      The provisions of this Section 6 shall survive the expiration or
earlier termination of this Amendment. 
 7.        Taking Possession
or Control of the Property; Appointment of Receiver.  As a matter of right without regard to the adequacy of the security or the solvency of Borrower, or any Owner, and to the extent permitted by applicable law without notice to
Borrower or Owners, upon a default under this Amendment or under the Loan Documents, Administrative Agent shall be entitled, upon application to a court of competent jurisdiction, to the immediate appointment of a receiver for all or any part of any
Mortgage Collateral and the rents, issues, profits, revenues, income or other benefits of all or any part of the Mortgage Collateral, whether such receivership may be incidental to a proposed sale of any part of the Mortgage Collateral or otherwise,
and Borrower and Owners hereby consent to the appointment of such a receiver and agree that such receiver shall have all of the rights and powers granted to Administrative Agent pursuant to the Loan Documents. In addition, to the extent permitted by
applicable law, and with or without the appointment of a receiver, or an application therefor, upon a default under this Amendment or the Loan Documents, Administrative Agent may (a) enter upon, and take possession of, and Borrower and Owners
shall surrender actual possession of, the Mortgage Collateral or any part thereof, without notice to Borrower or Owners and without bringing any legal action or proceeding, or, if necessary by force, legal proceedings, ejectment or otherwise, and
(b) remove and exclude Borrower, Owners and their agents and employees therefrom. 

8.        Counterparts.  This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same
instrument; and any signature page from any such counterpart or any electronic facsimile thereof may be attached or appended to any other counterpart to complete a fully executed counterpart of this Agreement and any telecopy or other facsimile
transmission of any signature shall be deemed an original and shall bind such party. 

9.        Costs and Expenses.  Borrower agrees to pay on demand
all reasonable out-of-pocket costs and expenses of Administrative Agent and Lenders in connection with the preparation, execution, delivery and enforcement of this Amendment, and any other transactions contemplated hereby, including, without
limitation, the reasonable fees and out-of-pocket expenses of legal counsel to Administrative Agent and Lenders, and Borrower agrees to take such further action as Administrative Agent shall reasonably request in connection herewith to evidence the
amendments herein contained to the Loan Documents. 
  

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PAGE 6 

 10.        Governing
Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of Illinois. 

11.        Binding; Successors and Assigns.  This Amendment
shall be binding upon and inure to the benefit of the successors and permitted assigns of the parties hereto. 

12.        Ratification.  The Loan Documents, as herein amended,
remain in full force and effect in accordance with their respective terms, and Borrower and Administrative Agent hereby ratify and affirm the same. Borrower acknowledges that it is fully obligated under the terms of the Loan Documents, that it has
no offsets or defenses with respect to its obligations thereunder, and that it has no claims or counterclaims against Administrative Agent or any of the Lenders, whether related to the Loan or otherwise. 

13.        No Novation.  Borrower, Administrative Agent, and
Lenders hereby agree that nothing herein or in the other Loan Documents, as modified hereby, shall in any way waive Administrative Agent’s or Lenders’ rights, powers or remedies under the Loan Documents; (ii) shall in any way limit,
impair or prejudice Administrative Agent or Lenders from exercising any past, present or future right, power or remedy from and after the date hereof under the Loan Documents; and (iii) shall not constitute or be deemed to be a novation of the
indebtedness evidenced and secured by the Loan Documents. 

14.        Credit Verification.  Each legal entity obligated
under the Loan, whether as Borrower, an Owner, a general partner of an Owner or in any other capacity, hereby authorizes Administrative Agent to check any credit references and obtain credit reports from credit reporting agencies of Administrative
Agent’s choice in connection with any monitoring, collection or future transaction concerning the Loan, including any modification, extension or renewal of the Loan. 

15.        Incorporation of Recitals.  The recitals set forth at
the beginning of this Amendment are confirmed by the parties as true and correct and are incorporated herein by reference. The recitals are a substantive, contractual part of this Amendment. 

16.        Conditions Precedent.  The conditions precedent to
the effectiveness of this Amendment and the closing the loan modification contemplated by this Amendment are set forth in that certain Closing Requirements and Checklist – Sixth Loan Modification, which lists items required by Administrative
Agent for the closing of said modification of the Loan. 
 [Remainder of page intentionally left blank] 

 

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   IN WITNESS WHEREOF, Borrower and Administrative Agent have
executed and sealed this Amendment as of the day and year first above written. 
  

					
	 BORROWER:

	
	 WELLS MID-HORIZON VALUE-ADDED FUND I,

LLC, a Georgia limited liability company

		
	 By:
	 	 Wells Investment Management Company, LLC,

its Manager

		
		 	 By: /s/ Kevin A. Hoover            (Seal)

		 		 	      Kevin A. Hoover

		 		 	      President

 
  

[Signatures continued on following page] 
  

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PAGE 8 

 [Signatures continued from previous page] 

 

			
	ADMINISTRATIVE AGENT:
	
	 BANK OF AMERICA, N.A., a national banking association (as successor by merger to LaSalle Bank National Association), as Administrative Agent

		
	 By:
	 	  /s/ Lissette
Rivera-Pauley                

		 	 Lissette Rivera-Pauley

		 	 Senior Vice President

		
		 	 [BANK SEAL]

  

 
 [Signatures continued on following page] 

 

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PAGE 9 

 The undersigned is the sole “Lender” under the Credit Agreement
and pursuant to Section 15.1 of the Credit Agreement hereby consents to the foregoing Amendment. 

Executed under seal as of the date of the Amendment. 

 

			
	LENDER:
	
	 BANK OF AMERICA, N.A., a national banking association (as successor by merger to LaSalle Bank National Association), as
Lender

		
	 By:
	 	  /s/ Lissette
Rivera-Pauley                

		 	 Lissette Rivera-Pauley

		 	 Senior Vice President

		
		 	 [BANK SEAL]

  

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PAGE 10 

 EXHIBIT B 

FORM OF COMPLIANCE CERTIFICATE 

To: Bank of America, N.A., as Administrative Agent 

Please refer to the Credit Agreement dated as of June 30, 2006 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”) among Wells Mid-Horizon Value-Added Fund I, LLC (the “Company”), various financial institutions and Bank of America, N.A., as Administrative Agent. Terms used but
not otherwise defined herein are used herein as defined in the Credit Agreement. 

I.      Reports. Enclosed herewith is a copy of the [annual
audited/quarterly] report of the Company as at
                                , 20    (the
“Computation Date”), which report fairly presents in all material respects the financial condition and results of operations of the Company as of the Computation Date and has been prepared in accordance with GAAP consistently
applied. 
 II.      Financial Tests. The Company hereby certifies and
warrants to you that the following is a true and correct computation as at the Computation Date of the following ratios and/or financial restrictions contained in the Credit Agreement. [Please attach all relevant calculations as schedule(s) to
this certificate.] 
  

							
	A.	  	 Section

 11.14.1
	 	 Maximum
Leverage Ratio (on and after the Financial
 Covenant Start Date)
	    	 
	 	 	 	 
	 	  	 	 	 	    	 
	 	  	(1)	 	 Total Debt under the Loan as of the last day of such Fiscal Quarter
	    	$            

	 	  	(2)	 	 As of the last day of such Fiscal Quarter, for
each Real Property
 Asset pledged as Mortgage Collateral, the most current “as is”

Appraised Value for each such Real Property Asset

 
 (a)    [Description of Real
Property Asset]
 (b)    [Description of Real Property Asset]
	    	
$            

$            

	 	 	 	 
	 	  	 	 	 	    	 
	 	  	(3)	 	 Sum of (2)(a) through (2)(b) – Mortgage Collateral Asset Value
	    	$            

	 	 	 	 
	 	  	 	 	 	    	 
	 	  	(4)	 	 Ratio of (1) to (3) (expressed as a percentage)
	    	            
%
	 	 	 	 
	 	  	 	 	 	    	 
	 	  	(5)	 	 Maximum allowed percentage
	    	70.000%
	 	 	 	 
	 	  	 	 	 	    	 
	B.	  	 Section

11.14.2
	 	 Minimum Net Operating Income to Interest
Expense Ratio
 (on and after the Financial Covenant Start Date)
	    	 
	 	  	(1)	 	 Net Operating Income for the Company and its
Subsidiaries
 from Mortgage Collateral for such Fiscal Quarter
	    	$            

	 	 	 	 
	 	  	 	 	 	    	 

 

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PAGE 11 

							
	 	  	(2)	  	 Aggregate amount of all interest, charges and similar expenses paid by the Company and
its Subsidiaries to a Lender under the Credit Agreement) during such Fiscal Quarter in connection with borrowed money (or the deferred purchase price of assets that are treated as interest in accordance with GAAP) secured by the Mortgage Collateral

	    	$______
	 	 	 	 
	 	  	 	  	 	    	 
	 	  	(3)	  	 Ratio of (1) to (2)
	    	______ to 1.00
	 	  		  	 	    	 
	 	  	(4)	  	 Minimum required ratio
	    	1.50 to 1.00
	 		 	 
	 	  	 	  	 	    	 

[Please attach all relevant calculations as schedule(s) to this certificate.] 

The Company further certifies to you that no Event of Default or Unmatured Event of Default has occurred and is
continuing. 
 The Company has caused this Certificate to be executed and delivered by its duly authorized
officer on                            , 20    . 

 

			
	
WELLS MID-HORIZON VALUE-ADDED FUND I, LLC,

a Georgia limited liability company

		
	 By:
	 	 Wells Investment Management Company, LLC,

Its Manager

	
	
By:                             
                                         
                  

	 Name:

	 Title:

  

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PAGE 12

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