Document:

EXHIBIT
10.8

 

EXECUTION COPY

 

BERKSHIRE GUARANTY AGREEMENT (P1)

 

BERKSHIRE GUARANTY AGREEMENT (P1) dated as of May 22,
2009 by and between OGLETHORPE POWER CORPORATION (AN ELECTRIC MEMBERSHIP
CORPORATION) (“Oglethorpe”), an electric membership generating and
transmission corporation organized under the laws of the State of Georgia, and
BERKSHIRE HATHAWAY ASSURANCE CORPORATION (“Berkshire”), a New York
insurance company.

 

W I T N E S S E T H:

 

WHEREAS, pursuant to a Participation Agreement (P1),
dated as of December 30, 1996 (the “Participation Agreement”), by
and among Oglethorpe, Rocky Mountain Leasing Corporation (“RMLC”), U.S.
Bank National Association, successor to SunTrust Bank, Atlanta (the “Facility
Lessor”), U.S. Bank National Association, successor to Fleet National Bank
(the “Owner Trustee”), Philip Morris Capital Corporation (the “Owner
Participant”) and Utrecht-America Finance Co. (the “Lender”), (i) Oglethorpe
has leased an undivided interest in its interest as tenant-in-common in the
Facility to the Facility Lessor pursuant to the Head Lease, (ii) the
Facility Lessor has leased such undivided interest in the Facility to RMLC
pursuant to the Facility Lease, (iii) RMLC has leased such undivided
interest in the Facility to Oglethorpe pursuant to the Facility Sublease, (iv) Oglethorpe
has leased an undivided interest in its interest as a tenant-in-common in the
Rocky Mountain Site to the Facility Lessor pursuant to the Ground Lease, (v) the
Facility Lessor has leased such undivided interest in the Rocky Mountain Site
to RMLC pursuant to the Ground Sublease, (vi) RMLC has leased such
undivided interest in the Rocky Mountain Site to Oglethorpe pursuant to the
Ground Sub-sublease, (vii) Oglethorpe has assigned a portion of its rights
and obligations under the Rocky Mountain Agreements to the Facility Lessor, and
the Facility Lessor has assumed such portion of Oglethorpe’s obligations,
pursuant to the Rocky Mountain Agreements Assignment, (viii) the Facility
Lessor has assigned its rights and obligations under the Rocky Mountain
Agreements to RMLC, and RMLC has assumed such obligation, pursuant to the Rocky
Mountain Agreements Re-assignment, and (ix) RMLC has assigned its rights
and obligations under the Rocky Mountain Agreements to Oglethorpe, and
Oglethorpe has assumed such obligations, pursuant to the Rocky Mountain
Agreements Second Re-assignment; and

 

WHEREAS, Berkshire has agreed to issue its Surety Bond
(Facility Sublease-P1) No. 98SRD102495 (the “Facility Sublease Surety
Bond”), guaranteeing certain payments required to be made by Oglethorpe
pursuant to the Facility Sublease and
certain obligations of AMBAC under the “AMBAC Surety Bond” (as defined in the
Facility Sublease Surety Bond), subject to the terms and conditions of
the Facility Sublease Surety Bond; and

 

WHEREAS, Berkshire has agreed to issue its Surety Bond
(Head Lease-P1) No. 98SRD102494 (the “Head Lease Surety Bond” and,
together with the Facility Sublease Surety Bond, the “Surety Bonds”),
guaranteeing certain payments required to be made by Oglethorpe 

 

 

pursuant to the Head
Lease and the Participation Agreement and
certain obligations of AMBAC under the “AMBAC Surety Bond” (as defined in the
Head Lease Surety Bond), subject to the terms and conditions of the Head
Lease Surety Bond; and

 

WHEREAS, to induce Berkshire to issue the Surety
Bonds, Oglethorpe has agreed to (i) pay the Premium for such Surety Bonds
and to pay certain of Berkshire’s expenses related to the Overall Transaction, (ii) reimburse
Berkshire for all payments made by Berkshire pursuant to the Surety Bonds
and/or the Berkshire Agreement for Assignment on Default (P1) dated as of the
date hereof (the “Agreement for Assignment on Default”) among the Owner
Participant, the Facility Lessor, the Owner Trustee and Berkshire, and (iii) secure
its obligation to reimburse Berkshire pursuant to this Agreement in the manner
hereinafter set forth; and

 

WHEREAS, Oglethorpe understands that Berkshire
expressly requires the delivery of this Agreement as part of the consideration
for the issuance by Berkshire of the Surety Bonds.

 

NOW, THEREFORE, in consideration of the premises and
of the agreements herein contained and of the execution of the Surety Bonds,
Oglethorpe and Berkshire agree as follows:

 

ARTICLE I

 

DEFINITIONS; SURETY BONDS; PREMIUM; CERTAIN COSTS

 

Section 1.01.  Definitions.  Except as otherwise expressly provided herein
or unless the context otherwise requires, the terms which are capitalized
herein shall have the meanings specified in Annex A hereto.

 

Section 1.02.  Surety Bonds.  The maximum liability of Berkshire under the
Facility Sublease Surety Bond and the Head Lease Surety Bond, respectively, and
the respective coverages and terms thereof shall be subject to and limited by
the terms and conditions of the Facility Sublease Surety Bond and the Head
Lease Surety Bond, respectively.

 

Section 1.03.  Premium.

 

(a)                                  In
consideration of Berkshire’s agreeing to issue the Surety Bonds pursuant to the
Agreement Regarding Surety Bonds, Oglethorpe hereby agrees to pay, or cause to
be paid, to Berkshire, a premium (the “Premium”) equal to the sum of
1.25% of the average of the amounts shown on Schedule A hereto as the “Surety
Bond Coverage” for January and July for each calendar year during the
scheduled term of the Surety Bonds (i.e., from the date on which the Surety
Bonds are issued through January 11, 2027 (the “Scheduled Termination
Date”)), with the amount calculated for each calendar year being payable in
advance on October 31 of the preceding calendar year or, in the case of
calendar years 2009 and 2010, on the Closing Date, as the case may be, and
prorated for the first and last years of the scheduled term of the Surety
Bonds, in each case as follows:

 

 

2

 

(i)                      on the Closing Date, Oglethorpe will pay
to Berkshire an amount equal to $2,089,615.06, which represents the portion of
the Premium calculated for 2009 and 2010, with the amount calculated for 2009
being prorated based on the weighted average of the amounts shown on Schedule A
as the “Surety Bond Coverage” for May and July for the number of days
remaining in such year;

 

(ii)                   for each calendar year subsequent to 2010
through 2026, Oglethorpe shall pay the portion of the Premium calculated for
such calendar year in advance on October 31 of the preceding calendar year
(or, if such day is not a Business Day, on the next succeeding Business Day);
and

 

(iii)                for the calendar year 2027, Oglethorpe shall pay the portion of the
Premium calculated for such calendar year in advance on October 31 of the
preceding calendar year (or, if such day is not a Business Day, on the next
succeeding Business Day), in an amount equal to $6,942.99, which represents the
portion of the Premium calculated for such calendar year, with the amount
payable for such calendar year being prorated based on the amount shown on
Schedule A as the “Surety Bond Coverage” for January for the number of
days from January 1 of such year to the Scheduled Termination Date.

 

(b)                                 Anything
contained herein to the contrary notwithstanding, the termination of either or
both of the Surety Bonds prior to the Scheduled Termination Date shall not
relieve Oglethorpe of its responsibility for payment of the full amount of the
Premium for the full scheduled term of the Surety Bonds through the Scheduled
Termination Date as provided above, provided that:

 

(i)                      if (A) either (1) the Overall
Transaction is terminated, (2) the claims paying ability and senior debt
obligations of AMBAC Assurance Corporation (formerly known as AMBAC Indemnity
Corporation) (“AMBAC”), as applicable, are rated at least AA by S&P
and Aa2 by Moody’s (and not on credit watch by either rating agency) or (3) the
Facility Lease is terminated pursuant to Section 14.1 or Section 17.1(b) thereof
and the Facility Sublease is terminated pursuant to Section 14.1 or Section 17.1(b) thereof,
(B) the Surety Bonds are released and terminated, (C) Oglethorpe has
paid to Berkshire, within 10 Business Days after the occurrence of (A) and
(B) above, all amounts in respect of the Premium due or to become due
hereunder for the period commencing on the Closing Date and ending December 31,
2012, (D) if the Surety Bonds are being terminated after December 31,
2012, Oglethorpe has paid to Berkshire, within 10 Business Days after the
occurrence of (A) and (B) above, all amounts in respect of the
Premium due hereunder for the period commencing on January 1, 2013 and
ending on December 31st of the year in which the termination occurs, (E) Oglethorpe
is not otherwise in default in the payment of any amounts due hereunder
(including, without limitation, if the Surety Bonds are being terminated
between October 31st and December 31st of any year, amounts due on October 31st
of such year in respect of the Premium for the succeeding calendar year) and (F) Oglethorpe
pays to Berkshire, without duplication of the amounts payable in the
parenthetical in clause (E) above, within 10 Business Days after the
occurrence of (A) and (B) above, an amount equal to the portion of
the Premium calculated for the calendar year succeeding the year in which the
termination occurs (or, 

 

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if terminated on
or prior to December 31, 2012, the calendar year ending December 31,
2013), together with interest, if any, at the Default Rate on any payments
under this clause (i) from the date the Surety Bonds are terminated until
the date paid, Oglethorpe shall not be required to pay any further amounts in
respect of the Premium;

 

(ii)                   if (A) Oglethorpe delivers
replacement Qualifying Surety Bonds or Qualifying Letters of Credit or other
credit enhancement acceptable to the Owner Participant in accordance with the
terms and conditions of Sections 8.5 and 8.6 of the Participation Agreement
(other than as a result of a reduction of Berkshire’s financial strength rating
to less than AA by S&P and less than Aa2 by Moody’s), (B) the Surety
Bonds are released and terminated, (C) Oglethorpe has paid to Berkshire
all amounts in respect of the Premium due or to become due hereunder for the
period commencing on the Closing Date and ending December 31, 2012, (D) if
the Surety Bonds are being terminated after December 31, 2012, Oglethorpe
has paid to Berkshire, within 10 Business Days after the occurrence of (A) and
(B) above, all amounts in respect of the Premium due hereunder for the
period commencing on January 1, 2013 and ending on December 31st of
the year in which the termination occurs, (E) Oglethorpe is not otherwise
in default in the payment of any amounts due hereunder (including, without limitation,
if the Surety Bonds are being terminated between October 31st and December 31st
of any year, amounts due on October 31st of such year in respect of the
Premium for the succeeding calendar year) and (F) Oglethorpe pays to
Berkshire, without duplication of the amounts payable in the parenthetical in
clause (E) above, within 10 Business Days after the occurrence of (A) and
(B) above, an amount equal to the portion of the Premium calculated for
the two years succeeding the year in which the termination occurs (or, if
terminated on or prior to December 31, 2012, the calendar years ending December 31,
2013 and December 31, 2014), together with interest, if any, at the
Default Rate on any payments under this clause (ii) from the date the
Surety Bonds are terminated until the date paid, Oglethorpe shall not be
required to pay any further amounts in respect of the Premium; and

 

(iii)                if (A) the financial strength rating of Berkshire is less than AA
by S&P and less than Aa2 by Moody’s, (B) the Surety Bonds are released
and terminated, (C) Oglethorpe has paid all amounts in respect of the
Premium due hereunder prior to the date of such termination (including, without
limitation, the portion of the Premium calculated for the calendar year in
which the termination occurs) and is not otherwise in default in the payment of
any amounts due hereunder (other than, if the Surety Bond is terminated between
October 31st and December 31st of any year, the amount in respect of
the Premium for the following year need not have been paid), Oglethorpe shall
not be required to pay any further amounts in respect of the Premium.

 

(c)                                  Once paid,
neither any payment in respect of the Premium nor any part thereof or payment
in respect of any portion thereof shall be subject to rebate, reduction or
refund for any reason or under any circumstances whatsoever.

 

(d)                                 Each payment in
respect of the Premium shall be paid by Oglethorpe by wire transfer to the
account of Berkshire designated in Section 5.07 as the “Account for
Payments” or such other account or in such other manner as may be designated by
Berkshire from time to time.  

 

4

 

If Berkshire has not
received payment of any amount in respect of the Premium as and when due and
payable hereunder, Berkshire shall be authorized, without notice to or
authorization from Oglethorpe, and without any liability to Oglethorpe, to
deliver a Notice of Termination to the Beneficiaries under the Surety Bonds.

 

Section 1.04.  Certain Other Expenses.  Oglethorpe agrees to pay on the Closing Date,
the fees and disbursements of Berkshire’s counsel related to issuance of the
Surety Bonds and the preparation, negotiation and execution of the Surety Bond
Documents and all other documents and agreements relating thereto, in each case
to the extent invoiced to Oglethorpe prior to the Closing Date.

 

ARTICLE II

 

REIMBURSEMENT OBLIGATIONS; SECURITY; EXPENSES;

INDEMNITY; NOTICES; OTHER COVENANTS

 

Section 2.01.  Reimbursement for Payments Under the
Surety Bonds, Expenses and Indemnification.

 

(a)                    Oglethorpe will reimburse
Berkshire immediately, without demand or notice by Berkshire to Oglethorpe or
any other Person, to the extent of each Surety Bond Payment.  If and to the extent that Oglethorpe fails to
reimburse Berkshire immediately in respect of each such Surety Bond Payment,
Oglethorpe shall pay on the first Business Day of each month, on the date of
any demand therefor from time to time and on the date such reimbursement
payment is made hereunder, interest on each such Surety Bond Payment from and
including the Surety Bond Payment Date to the date of the reimbursement by
Oglethorpe at the Default Rate. 
To the extent that interest payments due hereunder are not paid on the
first Business Day of each month, or are not paid as each principal repayment
is made, interest shall accrue on such unpaid amounts at a rate equal to the
Default Rate.

 

(b)                   Oglethorpe also agrees to
reimburse Berkshire immediately and unconditionally upon demand (in the case of
enforcement expenses) and within 30 days after demand (in the case of other
expenses) for all costs, fees and expenses (including reasonable fees and
disbursements of Berkshire’s counsel) incurred by Berkshire in connection with
the Surety Bonds and the other Surety Bond Documents (including any amendment
thereof) and/or the enforcement by Berkshire of this Agreement and/or any of
the other Surety Bond Documents, in each case together with interest on all
such expenses from and including the date of demand (in the case of enforcement
expenses) or the date which is 30 days from the date a statement for such
expenses is received by Oglethorpe (in the case of other expenses) to the date
of payment at the Default Rate; provided, however, that
Oglethorpe shall not be obligated to pay any expenses of Berkshire in
terminating the Surety Bonds if at the time Berkshire’s financial strength
rating is less than AA by S&P and less than Aa2 by Moody’s.

 

Section 2.02.  Security for Payments; Instruments of
Further Assurance.

 

(a)                    In order to secure its
payment obligations to Berkshire hereunder, Oglethorpe has amended the
Subordinated Mortgage.  Oglethorpe hereby
represents to Berkshire 

 

5

 

that the Subordinated
Mortgage grants to Berkshire a perfected security interest in the Subordinated
Collateral.

 

(b)                   Oglethorpe agrees that it
will, from time to time, execute, acknowledge and deliver, or cause to be
executed, acknowledged and delivered, any and all deeds of trust, mortgages
and/or financing statements, if applicable, and all other further instruments
as may be required by law, or as shall reasonably be requested by Berkshire,
for the perfection of the security interest in the Subordinated Collateral
granted to Berkshire pursuant to the Subordinated Mortgage and for the
preservation and protection of all rights of Berkshire thereunder.

 

Section 2.03.  Indemnification Rights.  In addition to any and all rights of
reimbursement, indemnification, subrogation and any other rights pursuant to
this Agreement or any of the other Surety Bond Documents or at law or in
equity, Oglethorpe agrees to pay and assume liability for, and to protect,
defend, indemnify and save harmless Berkshire and its Affiliates, and their
respective officers, directors, shareholders, employees, agents, attorneys and
advisors, and each Person, if any, who controls Berkshire or any Affiliate of
Berkshire within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act, from any against any and all claims,
losses, liabilities, obligations, penalties, damages, suits, actions and other
proceedings, costs and expenses (including, without limitation, fees and
expenses of attorneys, consultants and auditors and costs of investigations) of
any nature in any way arising out of or relating to the Overall Transaction,
the Operative Documents, the AMBAC Guaranty and/or the Surety Bond Documents,
or any of the transactions contemplated thereby or the enforcement thereof
(including, without limitation, any claim (a) that any payment made or
collateral delivered to Oglethorpe is subject to the claims of any other Person
or subject to avoidance, disgorgement, repayment, redelivery or reimbursement
or (b) arising out of any failure by Oglethorpe to perform or observe any
covenant, condition or agreement in, or the falsity of any representation or
warranty of Oglethorpe made in or pursuant to, this Agreement or any of the
other Surety Bond Documents); provided, however, that, without
limitation of the foregoing provisions of this Section 2.03, if Berkshire
acquires the interests of the Owner Participant or any other Person under or in
respect of any of the Operative Documents, Berkshire shall thereupon be
entitled to all applicable indemnities contained in or provided under the terms
of the Operative Documents; provided  further, that Oglethorpe
shall not be obligated to pay any expenses of Berkshire in terminating the
Surety Bonds if at the time Berkshire’s financial strength rating is less than
AA by S&P and less than Aa2 by Moody’s.

 

Section 2.04.  Payments Generally.  All payments to Berkshire hereunder shall be
applied by Berkshire in such order and manner as Berkshire may determine in its
sole discretion.  All such payments shall
in all events be made by Oglethorpe without setoff, deduction, counterclaim,
withholding or any other reduction for any reason whatsoever.

 

Section 2.05.  Unconditional Obligation.  The obligations of Oglethorpe hereunder are
absolute and unconditional and will be paid or performed strictly in accordance
with this Agreement, irrespective of, and Oglethorpe waives any defense to the
performance of its obligations hereunder as a result of:

 

(a)                    any lack of validity or
enforceability of, or any amendment or other modification of, extension of time
for performance under or compliance under, or waiver 

 

6

 

with respect to, this
Agreement, any of the Operative Documents, any of the AMBAC Surety Documents or
any of the other Surety Bond Documents or any other instrument, document or
agreement;

 

(b)                   any exchange, release or
nonperfection of any security interest in property now or hereafter securing
any obligation, whenever arising, under this Agreement, any of the Operative
Documents, any of the AMBAC Surety Documents or any of the other Surety Bond
Documents or any other instrument, document or agreement;

 

(c)                    any circumstances which
might otherwise constitute a defense available to, or discharge of, Oglethorpe
with respect to this Agreement, any of the Operative Documents, any of the
AMBAC Surety Documents or any of the other Surety Bond Documents or any other
instrument, document or agreement;

 

(d)                   whether or not any of the
acts mentioned in any of the provisions of this Agreement, any of the Operative
Documents, any of the AMBAC Surety Documents or any of the other Surety Bond
Documents or any other instrument, document or agreement referred to herein or
therein shall be done or omitted;

 

(e)                    whether the maturity of any
Covered Obligations shall be accelerated, or any Covered Obligations shall be
modified, supplemented or amended in any respect, or any right under any of the
Operative Documents, the Surety Bond Documents, the AMBAC Surety Documents or
any other instrument, document or agreement referred to herein or therein shall
be waived or any other guarantee for any Covered Obligations or any security
therefor shall be released or exchanged in whole or in part or otherwise dealt
with;

 

(f)                      any loss of
possession of the Facility by Oglethorpe, whether by reason of the foreclosure
of the Oglethorpe Mortgage or otherwise;

 

(g)                   the bankruptcy or insolvency
of Oglethorpe, the Facility Lessor, the Owner Participant, AMBAC or Berkshire
or any reorganization, arrangement, compromise, composition, liquidation or plan
affecting Oglethorpe, the Facility Lessor, the Owner Participant, AMBAC or
Berkshire shall occur; or

 

(h)                   whether this Agreement, any
of the Surety Bond Documents, any Operative Document or other instrument,
document or agreement referred to herein or therein shall be rejected or
limited in any bankruptcy, insolvency or similar proceeding (nothing herein
being a concession that any obligation hereunder or thereunder is properly
classifiable as an executory obligation).

 

Oglethorpe assumes all risks of the acts or omissions
of the Beneficiaries of the Surety Bonds with respect to their use of the
Surety Bonds and the proceeds thereof. 
Neither Berkshire nor any of its Affiliates, nor any of their respective
officers, directors, shareholders, employees, agents, attorneys and advisors,
shall be liable or responsible for:  (i) the
use that may be made of the Surety Bonds or any acts or omissions of any of the
Beneficiaries in connection therewith; (ii) the validity, sufficiency or
genuineness of any Demand for Payment or Demand for Avoided Payment (each as
defined in the Surety Bonds), even if the same should prove to be 

 

7

 

in any or all respects
invalid, insufficient, fraudulent or forged; (iii) payment by Berkshire
against presentation of a Demand for Payment or Demand for Avoided Payment that
does not comply with the terms of the applicable Surety Bond; or (iv) any
other circumstances whatsoever in making or failing to make payment under
either Surety Bond.  In furtherance and
not in limitation of the foregoing, Berkshire may accept a Demand for Payment
or Demand for Avoided Payment that appears on its face to be in order, without
responsibility for further investigation, regardless of any notice or information
to the contrary.

 

In addition, Oglethorpe hereby expressly waives (a) demand
of payment, presentment, protest, notice of dishonor, nonpayment or
nonperformance on any and all forms of the obligations hereunder (except as
provided in Sections 2.01(b) and 2.03 hereof); (b) all of its
right to indemnification; (c) notice of acceptance of this Agreement and
notice of any liability to which it may apply; (d) all other notices and
demands of any kind and description relating to the obligations hereunder now
or hereafter provided for by any agreement, statute, law, rule or
regulation; and (e) any and all defenses pertaining to the obligations
hereunder except for the defense of discharge by indefeasible payment.  Oglethorpe shall not be exonerated with
respect to its liabilities hereunder by any act or thing except indefeasible
payment of the obligations hereunder, it being the purpose and intent of this
Agreement that the obligations hereunder constitute the direct and primary
obligations of Oglethorpe and that the covenants, agreements and all
obligations of Oglethorpe hereunder be absolute, unconditional and irrevocable.

 

Section 2.06.  Notices.  Oglethorpe hereby agrees that until the
termination or expiration of the Surety Bonds, it shall provide to Berkshire (a) on
each December 30, a certificate of a Responsible Officer of Oglethorpe to
the effect that there is no Transaction Event of Default or Transaction
Default; (b) the annual audited financial statements of Oglethorpe within
145 days of the close of Oglethorpe’s fiscal year; (c) written notice
of any assertion to Oglethorpe by any party to the Transaction Documents that
Sublease Supplemental Rent or any indemnity payment is owed by Oglethorpe
pursuant to any of the Transaction Documents within 30 days of any such
assertion, in either case, in an amount at least equal to $250,000; (d) upon
reasonable notice, the opportunity to meet with senior officers of Oglethorpe
and to discuss the business and financial condition of Oglethorpe; and (e) immediate
written notice of the occurrence of any Transaction Event of Default or
Transaction Default, or any event that requires Oglethorpe to deliver
Qualifying Additional Security pursuant to Section 8.8  of the Participation Agreement.

 

Section 2.07.  Other Covenants of Oglethorpe.  Oglethorpe agrees that, until the later of
the termination or expiration of the Surety Bonds and the date on which all
obligations owing to Berkshire under the Surety Bond Documents have been
indefeasibly paid in full in cash:

 

(a)                    Oglethorpe will fulfill any
and all obligations undertaken by it under each Operative Document (other than
its obligation under Section 8.5 and Section 8.6 of the Participation
Agreement to replace the Surety Bonds if the Surety Bonds cease to be
Qualifying Surety Bonds) to which it is a party in accordance with the terms
thereof (and, in the case of the obligations set forth in Section 7.1 of
the Facility Sublease, subject to the additional time periods and contest
rights set forth in the provisos in Section 16(e) of the Facility
Sublease) with the same effect as if set forth specifically herein; provided
that this Section 2.07(a) shall be deemed 

 

8

 

to refer to the Operative
Documents as amended, modified, supplemented or waived from time to time with
the consent of Berkshire or as otherwise expressly permitted under Section 4(a) of
the Implementation Agreement.

 

(b)                   Oglethorpe shall name
Berkshire as an “Additional Insured” in each policy of insurance carried in
accordance with Section 11 of the Facility Sublease and fulfill all other
obligations with respect to such insurance as if Berkshire were listed as an “Additional
Insured” with the other parties named in Section 11.3 of the Facility
Sublease.

 

ARTICLE III

 

EVENTS OF DEFAULT; REMEDIES

 

Section 3.01.  Events of Default.  The following events shall constitute Events
of Default hereunder:

 

(a)                    Oglethorpe shall fail to pay
to Berkshire any amount payable under Section 1.03, 1.04 or 2.01(a) hereof
on the date when due;

 

(b)                   Oglethorpe shall fail to pay when due to
Berkshire any amount payable under any provision of this Agreement, other than
Sections 1.03, 1.04 and 2.01(a) hereof, provided that such failure
continues for more than 30 days after receipt by Oglethorpe of notice of such
failure to pay;

 

(c)                    Any representation or
warranty made by Oglethorpe in any of the Operative Documents, in the
Subordinated Mortgage, in this Agreement or any of the other Surety Bond
Documents or in any instrument, document or agreement provided by Oglethorpe in
connection with any of the Surety Bond Documents shall have been materially
false at the time when made;

 

(d)                   Except as otherwise provided in this Section 3.01,
Oglethorpe shall fail to perform any of its other convenants or obligations in
the Subordinated Mortgage or under this Agreement or any of the other Surety
Bond Documents, provided that such failure continues for more than 30 days
after receipt by Oglethorpe of notice of such failure to perform;

 

(e)                    Oglethorpe shall (i) voluntarily
commence any proceeding or file any petition seeking relief under the
Bankruptcy Code or any other federal, state or foreign bankruptcy, insolvency
or similar law, or consent to any order for relief thereunder, (ii) consent
to the institution of, or fail to controvert in a timely and appropriate
manner, any such proceeding or the filing of any such petition, (iii) apply
for or consent to the appointment of a receiver, trustee, custodian,
sequestrator or similar official for Oglethorpe or for a substantial part of
its property, (iv) file an answer admitting the material allegations of a
petition filed against it in any such proceeding, (v) make a general
assignment for the benefit of creditors, (vi) become unable, admit in
writing its inability or fail generally to pay its debts as they become due or (vii) take
action for the purpose of effecting any of the foregoing;

 

9

 

(f)                      An involuntary proceeding
shall be commenced or an involuntary petition shall be filed in a court of
competent jurisdiction seeking (i) relief in respect of Oglethorpe, or of
a substantial part of its property, under the Bankruptcy Code or any other
federal, state or foreign bankruptcy, insolvency or similar law or (ii) the
appointment of a receiver, trustee, custodian, sequestrator or similar official
for Oglethorpe or for a substantial part of its property; and such proceeding
or petition shall continue undismissed for 60 days or an order or decree
approving or ordering any of the foregoing shall be entered;

 

(g)                   The occurrence of any Head Lessor Event of
Default under Section 11.1(a)-(c), (i) or (j) of the Head Lease
or Sublease Event of Default under Section 16(j)-(m), (p) or (q) of
the Facility Sublease; or

 

(h)                   The occurrence of any “Event of Default”
under any “Berkshire Guaranty Agreement” between Berkshire and Oglethorpe with
respect to any other transaction involving or relating to the Facility or any
part thereof or interest therein.

 

Section 3.02.  Remedies.  If an Event of Default shall occur and be
continuing, then Berkshire may take whatever action at law or in equity
necessary or desirable to collect all amounts then or that may thereafter
become due under this Agreement or any other Surety Bond Documents or any
related instrument or to enforce any obligation, agreement or covenant of
Oglethorpe under this Agreement or any of the other Surety Bond Documents or
Operative Documents, including, without limitation, any and all rights and
remedies available to Berkshire pursuant to the Subordinated Mortgage.   All rights and remedies of Berkshire under
this Section 3.02 are cumulative and the exercise of any one remedy does
not preclude the exercise of one or more of the other available remedies.

 

ARTICLE IV

 

SETTLEMENT

 

If Berkshire shall have received a claim or made any
payment under the Facility Sublease Surety Bond or the Head Lease Surety Bond,
and Oglethorpe shall not have reimbursed Berkshire in full in cash (or all or
any part of any such reimbursement has been avoided for any reason), Berkshire
shall have the exclusive right to decide and determine whether any claim,
liability, suit or judgment made or brought against Berkshire shall or shall
not be paid, compromised, resisted, defended, tried or appealed, and Berkshire’s
decision thereon, if made in good faith, shall be final and binding upon
Oglethorpe.  An itemized statement of
payments made by Berkshire that are described in Section 2.01(b) or
2.03, certified by an officer of Berkshire, or the voucher or vouchers for such
payments, shall be prima facie evidence of the liability of Oglethorpe, and if
Oglethorpe fails to reimburse Berkshire pursuant to Section 2.01 or 2.03
hereof upon the receipt of such statement of payments, interest shall be
computed on such amount from the date of any payment made by Berkshire at the
Default Rate.

 

10

 

ARTICLE V

 

MISCELLANEOUS

 

Section 5.01.  Computations.  All computations of the Premium, interest and
fees hereunder shall be made on the basis of the actual number of days elapsed
over a year of 360 days.

 

Section 5.02.  Exercise of Rights.  No failure or delay on the part of Berkshire
to exercise any right, power or privilege under this Agreement and no course of
dealing between Berkshire and Oglethorpe or any other party shall operate as a
waiver of any such right, power or privilege, nor shall any single or partial
exercise of any such right, power or privilege preclude any other or further
exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein expressly
provided are cumulative and not exclusive of any rights or remedies which
Berkshire would otherwise have pursuant to law or equity.  No notice to or demand on any party in any
case shall entitle such party to any other or further notice or demand in
similar or other circumstances, or constitute a waiver of the right of the
other party to any other or further action in any circumstances without notice
or demand.

 

Section 5.03.  Amendment and Waiver.  Any provision of this Agreement may be
amended, waived, supplemented, discharged or terminated only with the prior
written consent of Oglethorpe and Berkshire.

 

Section 5.04.  Successors and Assigns; Descriptive
Headings.

 

(a)                    This Agreement shall bind,
and the benefits hereof shall inure to, Oglethorpe and Berkshire and their
respective successors and assigns; provided that Oglethorpe may not transfer or
assign any or all of its rights and obligations hereunder without the prior
written consent of Berkshire.

 

(b)                   The descriptive headings of
the various provisions of this Agreement are inserted for convenience of
reference only and shall not be deemed to affect the meaning or construction of
any of the provisions hereof.

 

Section 5.05.  Other Sureties.  If Berkshire shall procure any other surety
to reinsure any portion of its exposure under any of the Surety Bonds, this
Agreement shall inure to the benefit of such other surety, its successors and
assigns, so as to give to it a direct right of action against Oglethorpe to
enforce this Agreement, and “Berkshire,” wherever used herein, shall be deemed
to include such reinsuring surety, as its respective interests may appear, in
each case to the extent agreed by Berkshire with such other surety; provided,
however, that Oglethorpe shall not be required to give notices to, or to
obtain the consent of, any such reinsurer; provided further,
that Section 1.03, Section 1.04, Article 4 and Section 5.03
hereof shall only be for the benefit of Berkshire and shall not inure to the
benefit of any other surety.

 

Section 5.06.  Waiver.  Oglethorpe waives any defense that this
Agreement was executed subsequent to the date of issuance of the Surety Bonds,
admitting and covenanting that 

 

11

 

such Surety Bonds were executed pursuant to
Oglethorpe’s request and in reliance on Oglethorpe’s promise to execute this
Agreement.

 

Section 5.07.  Notices, Requests, Demands.  Except as otherwise expressly provided
herein, all written notices, requests, demands or other communications to or
upon the respective parties hereto shall be deemed to have been given or made
when actually received, or in the case of telex or telecopier notice sent over
a telecopier machine owned or operated by a party hereto, when sent, addressed
as specified below or at such other address as either of the parties hereto may
hereafter specify in writing to the others:

 

	
  If to Oglethorpe:

  	
  Oglethorpe Power Corporation

  
	
   

  	
  2100 East Exchange Place

  
	
   

  	
  Tucker, Georgia 30085-1349

  
	
   

  	
  Attention: 
  Vice President, Finance

  
	
   

  	
  Telephone: 
  (770) 270-7325

  
	
   

  	
  Telecopier:  (770) 270-7920

  
	
   

  	
   

  
	
  If to Berkshire:

  	
  Berkshire Hathaway Assurance
  Corporation

  
	
   

  	
  c/o Berkshire Hathaway Group

  
	
   

  	
  100 First Stamford Place

  
	
   

  	
  Stamford, CT 06902

  
	
   

  	
  Attn:  General Counsel

  
	
   

  	
  Facsimile No.:  (203) 363 5221

  
	
   

  	
   

  
	
   

  	
  with copies to:

  
	
   

  	
   

  
	
   

  	
  Berkshire Hathaway Assurance
  Corporation

  
	
   

  	
  3024 Harney Street

  
	
   

  	
  Omaha, NE 68131

  
	
   

  	
  Attention:  President

  
	
   

  	
  Facsimile No.:  (402) 916-3237

  
	
   

  	
   

  
	
   

  	
  and

  
	
   

  	
   

  
	
   

  	
  Robert E. Bennett

  
	
   

  	
  99 Mill Lane

  
	
   

  	
  Norwell, MA 02061

  
	
   

  	
  Facsimile No.:  (781) 659-2491

  
	
   

  	
   

  
	
   

  	
  Account for Payments:

  
	
   

  	
   

  
	
   

  	
  Bank:

  	
  JPMorgan Chase Bank

  
	
   

  	
  ABA No.:

  	
  021000021

  
	
   

  	
  Acct No.:

  	
  747499341

  
	
   

  	
  Acct Name:

  	
  Berkshire Hathaway

  Assurance Corporation

  
	
   

  	
  Reference:

  	
  98SRD102494 and

  98SRD102495

  

 

12

 

Section 5.08.  Survival of Representations and Warranties.  All representations, warranties and
obligations contained herein shall survive the execution and delivery of this
Agreement and the Surety Bonds.

 

Section 5.09.  Governing Law; Jurisdiction.  (a) This Agreement and the rights and
obligations of the parties under this Agreement shall be governed by and
construed and interpreted in accordance with the laws of the State of New York.

 

(b) Each of the
parties hereto (i) hereby irrevocably submits to the nonexclusive
jurisdiction of the Supreme Court of the State of New York, New York County
(without prejudice to the right of any party to remove to the United States
District Court for the Southern District of New York) and to the nonexclusive
jurisdiction of the United States District Court for the Southern District of
New York for the purposes of any suit, action or other proceeding arising out
of this Agreement, the other Surety Bond Documents, or the subject matter
hereof or thereof or any of the transactions contemplated hereby or thereby
brought by any of the parties hereto or their successors or assigns; (ii) hereby
irrevocably agrees that all claims in respect of such action or proceeding may
be heard and determined in such New York State court, or in such federal court;
and (iii) to the extent permitted by Applicable Law, hereby irrevocably
waives, and agrees not to assert, by way of motion, as a defense, or otherwise,
in any such suit, action or proceeding any claim that it is not personally
subject to the jurisdiction of the above-named courts, that the suit, action or
proceeding is brought in an inconvenient forum, that the venue of the suit,
action or proceeding is improper or that this Agreement, the other Surety Bond
Documents, or the subject matter hereof or thereof may not be enforced in or by
such court.

 

Section 5.10.  Counterparts.  This Agreement may be executed in any number
of copies and by the different parties hereto on the same or separate
counterparts, each of which shall be deemed to be an original instrument.

 

Section 5.11.  Severability.  In the event any provision of this Agreement
shall be held invalid or unenforceable by any court of competent jurisdiction,
such holding shall not invalidate or render unenforceable any other provision
hereof.

 

Section 5.12.  Specific Performance.  Oglethorpe agrees that the performances to be
rendered by it pursuant to this Agreement are of a special, unique, and unusual
character, the loss of which performances cannot reasonably or adequately be
compensated in damages in an action at law, that a breach of any of the
covenants contained herein will result in irreparable damage and harm to
Berkshire, that Berkshire has no adequate remedy at law in respect of any such
breach and, as a consequence, agrees that the covenants contained herein shall
be specifically enforceable against Oglethorpe and Oglethorpe hereby waives and
agrees not to assert any defenses against an action for specific performance of
such covenants.

 

[Remainder of Page Intentionally Left Blank]

 

13

 

IN WITNESS WHEREOF, each of the parties hereto has
caused a counterpart of this Agreement to be duly executed and delivered as of
the date first above written.

 

 

	
   

  	
  OGLETHORPE POWER
  CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Thomas A. Smith

  
	
   

  	
   

  	
  Name:

  	
  Thomas A. Smith

  
	
   

  	
   

  	
  Title:

  	
  President and
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Attest:

  	
  /s/  Patricia N. Nash

  
	
   

  	
   

  	
  Name:

  	
  Patricia N. Nash

  
	
   

  	
   

  	
  Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (CORPORATE SEAL)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BERKSHIRE
  HATHAWAY ASSURANCE CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Kara Raiguel

  
	
   

  	
   

  	
  Name:

  	
  Kara Raiguel

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  [signature illegible]

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  
						

 

 

ANNEX A

 

DEFINITIONS

 

For all purposes of this Agreement, except as
otherwise expressly provided herein or unless the context otherwise requires,
all capitalized terms shall have the meaning as set out below.  Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings set forth in, or by
reference in, Appendix A to the Participation Agreement, without giving effect
to any change in the meaning of such terms due to any amendment or modification
to such agreement unless such amendment or modification has been approved in
writing by Berkshire.  The general rules of
usage set forth in such Appendix A shall also apply to this Agreement.

 

“Agreement” means this Berkshire Guaranty
Agreement (P1).

 

“Agreement
Regarding Surety Bonds” means the Agreement Regarding Surety Bonds
(P1), dated as of the date of this Agreement, among Oglethorpe, RMLC and
Berkshire.

 

“AMBAC
Surety Documents” has the meaning given that term in the Implementation
Agreement.

 

“Beneficiaries”
means, collectively, the Owner Participant, the Facility Lessor, the Facility
Sublessor, the RMLC Assignee and the Head Lessee, as beneficiaries of either or
both of the Surety Bonds.

 

“Business
Day” has the meaning given that term in the Surety Bonds.

 

“Closing
Date” means May 22, 2009.

 

“Covered
Obligations” has the meaning given that term in the Facility Sublease
Surety Bond or the Head Lease Surety Bond, as applicable.

 

“Default
Rate” means the lesser of the Reimbursement Rate or the maximum rate of
interest permitted by then applicable law.

 

“Event
of Default” means those events of default set forth in Section 3.01 of
this Agreement.

 

“Implementation
Agreement” means the Surety Bond Implementation Agreement (P1) dated as of
the date of this Agreement among Oglethorpe, Berkshire, AMBAC, RMLC, the Owner
Participant, U.S. Bank National Association, a national banking association,
not in its individual capacity, except as expressly provided therein, but
solely as a trustee under the Trust Agreement, as the Owner Trustee, and U.S.
Bank National Association, a national banking association, not in its
individual capacity, except as expressly provided therein, but solely as a
trustee under the Trust Agreement, as the Co-Trustee.

 

“Notice
of Termination” has the meaning given that term in the Surety Bonds.

 

 

“Reimbursement
Rate” means, at any time, the sum of (a) the United States Prime Rate as
most recently published by the Wall Street Journal or, if such rate is
unavailable on any Business Day, at the option of Berkshire, the Reimbursement
Rate at any time shall be the rate announced from time to time by the Reference
Bank (as defined below) in New York, New York, as its prime rate or any
substitute therefor, plus (b) 2.00 percent per annum.  The rate of interest shall be calculated on
the basis of a 360-day year.  The term “Reference
Bank” means, at any time, any major United States bank designated as such
by Berkshire in good faith from time to time.

 

“RMLC
Assignee” has the meaning given that term in the Facility Sublease Surety
Bond.

 

“Subordinated
Mortgage” means the Subordinated Deed to Secure Debt and Security Agreement
(P1), dated as of December 30, 1996 from Oglethorpe, as grantor, to AMBAC
and SunTrust Bank, Atlanta, as amended as of the date hereof.

 

“Subordinated
Collateral” has the meaning given that term in the Subordinated Mortgage.

 

“Subrogation
Interest” has the meaning given that term in the Implementation Agreement.

 

“Surety
Bond Documents” means (a) this Agreement, (b) the Surety Bonds, (c) the
Agreement for Assignment on Default, (d) the Implementation Agreement, and
(e) the Agreement Regarding Surety Bonds.

 

“Surety
Bond Payment” means, without duplication, (a) the amount of each
payment made by Berkshire under or pursuant to any of the Surety Bonds,
including, without limitation, any payments made pursuant to Section 11(f) thereof
in order to exercise subrogation rights thereunder or otherwise to acquire the
Beneficial Interest or the Subrogation Interest or any part thereof or interest
therein, and (b) if a Sublease Event of Default or Head Lessor Event of
Default has occurred and is continuing or a payment has been made by Berkshire
under or pursuant to any of the Surety Bonds, the amount of each payment made
by Berkshire under or pursuant to the Agreement for Assignment on Default,
including, without limitation, any payments made pursuant to the terms thereof
in order to acquire the Beneficial Interest or any part thereof or interest
therein.

 

“Surety
Bond Payment Date” means the date on which any particular Surety Bond
Payment is made by Berkshire.

 

“Transaction
Default” means any event which, with the giving of notice or the passage of
time or both, could become a Transaction Event of Default.

 

“Transaction
Event of Default” means any Event of Default, any Head Lessor Event of
Default and any Sublease Event of Default.

 

 

SCHEDULE
TO EXHIBIT 10.8

 

BERKSHIRE
GUARANTY AGREEMENT (P1)

 

The following table
indicates for each transaction the name of the corresponding Owner Participant:

 

	
  Agreement

  	
   

  	
  Date

  	
   

  	
  Owner Participant

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  P2

  	
   

  	
  May 22,
  2009

  	
   

  	
  Philip Morris Capital
  Corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  F3

  	
   

  	
  May 22,
  2009

  	
   

  	
  First Chicago Leasing
  Corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  F4

  	
   

  	
  May 22,
  2009

  	
   

  	
  First Chicago Leasing
  Corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  N6

  	
   

  	
  May 22,
  2009

  	
   

  	
  Philip Morris Capital
  Corporation

  (transferee from NationsBanc Leasing & R.E. Corporation)Exhibit 10.1

 

TRANSACTION AGREEMENT

 

by and between

 

HRPT PROPERTIES TRUST

 

and

 

GOVERNMENT PROPERTIES INCOME TRUST

 

 

 

[·], 2009

 

 

 

Table of Contents

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  SECTION 1  DEFINITIONS

  	
  1

  
	
  1.1 
  Definitions

  	
  1

  
	
  SECTION 2  PRELIMINARY ACTIONS, PROPERTIES TRANSFER;
  ETC.

  	
  7

  
	
  2.1 
  Preliminary Actions

  	
  7

  
	
  SECTION 3  POST-EFFECTIVE DATE RIGHTS, OPTIONS AND
  COVENANTS

  	
  9

  
	
  3.1 
  First Right to Purchase re: Government Properties Owned by HRPT or its
  Subsidiaries

  	
  9

  
	
  3.2 
  Investments of HRPT

  	
  10

  
	
  3.3 
  Investments of GOV

  	
  10

  
	
  3.4 
  Expiration or Termination of Tenancies

  	
  11

  
	
  3.5 
  Cooperation, Exchange of Information, Retention of Records, and Costs
  of Reporting

  	
  11

  
	
  3.6 
  Restrictions

  	
  13

  
	
  SECTION 4  REPRESENTATIONS

  	
  13

  
	
  SECTION 5  INDEMNIFICATION

  	
  14

  
	
  5.1 
  Indemnification by HRPT

  	
  14

  
	
  5.2 
  Indemnification by GOV

  	
  14

  
	
  5.3 
  Certain Limitations, Etc.

  	
  14

  
	
  5.4 
  Priority of Section 6

  	
  15

  
	
  SECTION 6  TAX MATTERS

  	
  15

  
	
  6.1 
  General Responsibility for Taxes

  	
  15

  
	
  6.2 
  Allocation of Certain Taxes among Taxable Periods

  	
  16

  
	
  6.3 
  Filing and Payment Responsibility

  	
  16

  
	
  6.4 
  Refunds and Credits

  	
  17

  
	
  6.5 
  Tax Contests

  	
  17

  
	
  SECTION 7  MISCELLANEOUS

  	
  18

  
	
  7.1 
  Arbitration

  	
  18

  
	
  7.2 
  Notices

  	
  19

  
	
  7.3 
  Waivers, Etc.

  	
  20

  
	
  7.4 
  Assignment; Successors and Assigns; Third Party Beneficiaries

  	
  21

  
	
  7.5 
  Severability

  	
  21

  
	
  7.6 
  Counterparts, Etc.

  	
  21

  
	
  7.7 
  Governing Law

  	
  21

  
	
  7.8 
  Section and Other Headings; Interpretation

  	
  21

  
	
  7.9 
  Exculpation

  	
  22

  

 

i

 

TRANSACTION
AGREEMENT

 

THIS
TRANSACTION AGREEMENT made [·],
2009, by and between HRPT  PROPERTIES TRUST, a Maryland real estate investment trust (“HRPT”)
and GOVERNMENT PROPERTIES INCOME TRUST (“GOV”),
a Maryland real estate investment trust.

 

RECITAL

 

GOV is
a wholly-owned subsidiary of HRPT.

 

The
principal assets of GOV are 29 properties previously contributed to GOV’s
wholly-owned subsidiary, Government Properties Income Trust LLC (“GOV LLC”), by
HRPT, tenanted primarily by the United States government and several state
governments and subject to mortgages securing a revolving credit facility.

 

GOV
filed a registration statement on Form S-11 under the Securities Act of
1933 with respect to an initial public offering of up to 11,500,000 of its
common shares of beneficial interest, $0.01 par value.

 

In
connection with the foregoing, the parties wish to define certain rights and
obligations in connection with their businesses.

 

NOW,
THEREFORE, it is agreed:

 

SECTION 1

DEFINITIONS

 

1.1           Definitions.

 

Capitalized
terms used in this Agreement shall have the meanings set forth below:

 

(1)           “AAA”:  as defined in Section 7.1(a).

 

(2)           “Action”:  any litigation or legal or other action,
arbitration, counterclaim, investigation, proceeding, request for material
information by or pursuant to the order of any Governmental Authority, or suit,
at law or in arbitration or equity commenced by any Person.

 

(3)           “Affiliate”:  with respect to any Person, any other Person
controlling, controlled by or under common control with, such Person, with “control”
for such purpose, with respect to an Entity, meaning the possession of the
power to vote or direct the voting of a majority of the voting securities of,
or other voting interests in, such Entity which are entitled to elect
directors, trustees or similar officials of such Entity.

 

(4)           “Agreement”:  this Transaction Agreement, together with the
Schedules hereto, as amended in accordance with the terms hereof.

 

(5)           “Award”:  as defined in Section 7.1(e).

 

 

(6)           “Business Day”:  any day which is neither a Saturday or Sunday
nor a legal holiday on which commercial banks are authorized or required to be
closed in the Commonwealth of Massachusetts.

 

(7)           “Change in Control”:  with respect to HRPT means (a) the
acquisition by any Person, or two or more Persons acting in concert, of
beneficial ownership (within the meaning of Rule 13d-3 of the Commission)
of 9.8% or more, or rights, options or warrants to acquire 9.8% or more, of the
outstanding shares of voting stock of HRPT or any Subsidiary of HRPT that
directly or indirectly owns a Government Property (a “Specified Subsidiary”),
or the power to direct the management and policies of HRPT or any Specified
Subsidiary, directly or indirectly, (b) the merger or consolidation of
HRPT or any Specified Subsidiary with or into any other Entity (other than the
merger or consolidation of HRPT or any Specified Subsidiary into another Entity
that does not result in a Change in Control of HRPT or such Specified
Subsidiary under clauses (a), (c) or (d) of this definition), (c) any
one or more sales or conveyances to any person by HRPT or any Specified
Subsidiary of all or any material portion of the assets (including capital
stock) or the business of HRPT or any Specified Subsidiary, other than to a
wholly-owned subsidiary of HRPT or to HRPT, as the case may be, (d) the
cessation, for any reason, of the individuals who at the beginning of any
twenty-four (24) consecutive month period (commencing on or after the date
hereof) constituted the board of trustees or directors of HRPT (together with
any new trustees or directors whose election by such board, or whose nomination
for election by the shareholders of HRPT, was approved by a vote of a majority
of the trustees or directors then still in office who were either trustees or
directors at the beginning of any such period or whose election or nomination
for election was previously so approved, but excluding any individual whose initial
nomination for, or assumption of, office as a member of such board of directors
occurs as a result of an actual or threatened solicitation of proxies or
consents for the election or removal of one or more directors by any Person
other than a solicitation for the election of one or more directors by or on
behalf of the board of directors) to constitute a majority of the board
of trustees or directors of HRPT then in office or (e) the election to the board of directors of
HRPT of any individual not nominated or appointed by vote of a majority of the
directors of HRPT in office immediately prior to the nomination or appointment
of such individual.

 

(8)           “Change in Control Purchase Price”:  with respect to any Government Property, such
price shall be the fair market value (“Fair Market Value”) as determined
by agreement of a majority of the Independent Trustees of each of HRPT and GOV
(but not including persons who are Independent Trustees of both HRPT and GOV),
provided if the Independent Trustees have not reached agreement within the 30
day period following notice from HRPT to GOV of a Change in Control referred to
in Section 3.1(b) (“Agreement Period”), the Fair Market Value
shall be determined by appraisal.  In
such event, within 5 Business Days after the end of the Agreement Period, HRPT
and GOV shall each give notice to the other specifying the name and address of
an appraiser.  The two appraisers so
chosen shall meet within ten (10) days after notice of the selection of
the second appraiser and shall endeavor to agree upon Fair Market

 

2

 

Value.  If, within twenty (20) days after such
notice, the two appraisers do not agree upon Fair Market Value, they shall
together appoint a third appraiser.

 

If the
two appraisers cannot agree upon the appointment of a third appraiser within
ten (10) days after the expiration of such twenty (20) day period, either
HRPT or GOV may request such appointment by the American Arbitration
Association (or any successor organization) in accordance with its then
prevailing rules. Once the third appraiser is selected, all three appraisers
shall meet to endeavor to agree unanimously on Fair Market Value, within ten (10) days
of such third appraiser’s selection.  In
the event that all three appraisers cannot unanimously agree upon the Fair
Market Value within ten (10) days after the third appraiser shall have
been selected, each appraiser shall submit his or her designation of Fair
Market Value to the other two appraisers in writing within five (5) days
after the expiration of such 10-day period; and Fair Market Value shall be
determined by calculating the average of the two numerically closest (or, if
the values are equidistant, all three) values so determined.

 

If
only one appraiser shall have been chosen whose name and address shall have
been given to the other party within 5 Business Days after the end of the
Agreement Period and who shall have the qualifications set forth below, that
sole appraiser shall render the decision which would otherwise have been made
as above provided.

 

Each
of the appraisers selected shall have at least ten (10) years experience
as a commercial real estate sales broker in the applicable real estate market,
dealing with properties of the same type and quality as the relevant Government
Properties.

 

Each
of HRPT and GOV shall pay the fees and expenses of the appraiser it has
selected and the fees of its own counsel, if any is employed.  Each of HRPT and GOV shall pay one half (1/2)
of the fees and expenses of the third appraiser (or the sole appraiser, as the
case may be) and all other expenses of the appraisal.

 

Each
of the appraisers selected shall certify the determination of the Fair Market
Value to both HRPT and GOV promptly upon determination.

 

In
determining Fair Market Value, the appraiser(s) shall assume that neither
HRPT nor GOV is under a compulsion to sell or purchase, and that both parties
are typically motivated, well-informed and well-advised, and each is acting in
what it considers its own best interest.

 

(9)           “Charter”:  with respect to any Entity, its constituent
governing documents, including, by way of example, its certificate of
incorporation and by-laws (if a corporation), its operating agreement and
certificate of formation (if a limited liability company), its declaration of
trust and by-laws (if a real estate investment trust) and its limited
partnership agreement and certificate of limited partnership (if a limited
partnership).

 

(10)         “Code”:  the United States Internal Revenue Code of
1986, as from time to time in effect, and any successor law, and any reference
to any statutory provision shall be deemed to be a reference to any successor
statutory provision.

 

(11)         “Commission”:  the United States Securities and Exchange
Commission.

 

3

 

(12)         “Contract”:  any lease, contract, instrument, license,
agreement, sales order, purchase order, open bid or other obligation or
commitment (whether or not written) and all rights and obligations therein or
thereunder.

 

(13)         “Covered Liabilities”:  as defined in Section 5.1.

 

(14)         “Credit Facility”: the revolving
credit facility among GOV, GOV LLC and Bank of America, N.A. and the other
lenders party thereto dated April 24, 2009.

 

(15)         “Disputes”:  as defined in Section 7.1(a).

 

(16)         “Effective Date”:  the date on which the GOV Common Shares sold
pursuant to the GOV Registration Statement are paid for by the underwriters named
therein.

 

(17)         “Entity”:  a real estate investment trust, a
corporation, a limited liability company, a partnership, an association, a
trust or any other entity or organization, including a government or political
subdivision or any agency or instrumentality thereof.

 

(18)         “Exchange Act”:  the United States Securities Exchange Act of
1934, as amended and in effect from time to time.

 

(19)         “GAAP”: generally accepted
accounting principles as in effect from time to time in the United States of
America.

 

(20)         “GOV”:  the meaning given in the preamble to this
Agreement.

 

(21)         “GOV Common Shares”:  common shares of beneficial interest, $0.01
par value of GOV.

 

(22)         “GOV Expenses”:  (a) all costs, expenses, fees and
underwriting commissions (including in each case the reasonable fees and
disbursements of counsel) of GOV and GOV LLC, incident to (i) the
drafting, negotiation, execution and delivery of this Agreement and all other
agreements, instruments and documents entered into in connection herewith, (ii) the
preparation, printing, filing and distribution under the Securities Act of the
GOV Registration Statement  (including
financial statements and exhibits), each preliminary prospectus and prospectus
in connection therewith and all amendments and supplements to any of them, (iii) the
registration or qualification of the GOV Common Shares for offer and sale under
the securities and Blue Sky laws of the several states, (iv) the initial
listing of the GOV Common Shares on the New York Stock Exchange, (v) furnishing
such copies of the GOV Registration Statement, the final prospectus contained
therein and all amendments and supplements thereto as may be requested for use
by the underwriters named therein, and (vi) the drafting, negotiation,
execution and delivery of the Credit Facility and all other agreements,
instruments and documents to be executed in connection therewith, including any
arrangement, upfront, administrative and other fees and expenses of lenders in
connection with the Credit Facility, and (b) all real property transfer
Taxes, and all excise, sales, use, value added, registration, stamp, recording,
documentary, conveyancing, property, transfer, gains and similar Taxes, levies,
charges and fees, including any associated deficiencies, interest, penalties,
additions to Tax or additional amounts, in any such case in connection with the
transfers referred to in Section 2.1(e).

 

4

 

(23)         “GOV Group”:  GOV and each Entity (i) whose income
after the Effective Date will be included in the federal Income Tax Return Form 1120-REIT
with GOV as the parent or (ii) that is a Subsidiary of GOV on or after the
Effective Date.

 

(24)         “GOV Indemnified Parties”:  as defined in Section 5.1.

 

(25)         “GOV Liabilities”:  all (i) liabilities which represent GOV
Expenses and (ii) Liabilities, whether arising before or after the
transfer of the Properties and Property Assets to GOV LLC, but not including
those current Liabilities which were transferred to HRPT as part of the
distribution paid under Section 2.1(k).

 

(26)         “GOV Registration Statement”:  the registration statement on Form S-11
filed by GOV under the Securities Act with respect to up to 11,500,000 GOV
Common Shares, as amended.

 

(27)         “Government Property”:  shall mean a property which, at the time of
consideration, is majority leased or occupied (determined by rentable square
footage, excepting common areas) to one or more Governmental Authorities or
which is reasonably expected to be majority leased to one or more Governmental
Authorities within twelve (12) months of such time.

 

(28)         “Governmental Authority”: any
nation or government, any state or other political subdivision thereof, any
federal, state, local or foreign entity or organization exercising executive,
legislative, judicial, regulatory or administrative functions of or pertaining
to government, including any governmental authority, agency, department, board,
commission or instrumentality of the United States, any state of the United
States or any political subdivision thereof, and any tribunal.

 

(29)         “HRPT”:  as defined in the preamble to this Agreement.

 

(30)         “HRPT Expenses”:  all costs, expenses and fees (including in
each case the reasonable fees and disbursements of counsel of HRPT and its
Subsidiaries other than GOV) incident to the drafting, negotiation, execution
and delivery of this Agreement and all other agreements, instruments and other
documents entered into by HRPT or any HRPT Subsidiary (other than GOV) in
connection herewith.

 

(31)         “HRPT Group”:  HRPT and each Entity (i) whose income is
included in the federal Income Tax Return Form 1120-REIT with HRPT as the
parent or (ii) that is a Subsidiary of HRPT, but excluding, in each case,
any Entity in the GOV Group.

 

(32)         “HRPT Indemnified Parties”:  as defined in Section 5.2.

 

(33)         “HRPT Liabilities”:  all (i) liabilities which represent HRPT
Expenses, (ii) current Liabilities which were transferred to HRPT as part
of the distribution paid under Section 2.1(k)), whether arising
before or after the transfer of the Properties and Property Assets to GOV LLC.

 

(34)         “Income Taxes”:  any and all Taxes to the extent based upon or
measured by net income (regardless of whether denominated as an “income tax,” a
“franchise tax” or otherwise), 

 

5

 

imposed by any
Taxing Authority, together with any related interest, penalties or other
additions thereto.

 

(35)         “Independent Trustee”:  a trustee of an Entity within the meaning of
the term “Independent Trustee” under such Entity’s Charter (as then in effect),
or if no such term is contained in an Entity’s Charter, a trustee who is not an
employee of the manager of such Entity, who is not involved in the Entity’s day
to day activities and who meets the qualifications of an independent director
under the applicable rules of any stock exchange on which such Entity’s
shares are traded and the Securities and Exchange Commission, as those
requirements may be amended from time to time.

 

(36)         “Leases”:  collectively, the Tenant leases of the
Properties listed on Schedule 1.1(36).

 

(37)         “Liability”:  any and all debts, liabilities and
obligations, absolute or contingent, matured or unmatured, liquidated or
unliquidated, accrued or unaccrued, known or unknown, whenever arising,
including all costs and expenses relating thereto, and including those debts,
liabilities and obligations arising under any law, rule, regulation, Action,
threatened Action, order or consent decree of any Governmental Authority or any
award of any arbitrator of any kind, and those arising under any contract,
commitment or undertaking, in each case to the extent arising out of or
relating to the ownership, financing or operation of the Properties or the
Property Assets.

 

(38)         “License”:  any federal, state, local or foreign
governmental approval, authorization, certificate, license, permit or exemption
to which any Person is a party or that is or may be binding upon or inure to
the benefit of any Person or its securities, properties or business.

 

(39)         “Person”:  any individual or any Entity.

 

(40)         “Properties”:  the Government Properties listed on Schedule
1.1(40), each a “Property.”

 

(41)         “Property Assets”:  with respect to any Property, (i) all
land together with any appurtenances thereto and any buildings, structures or
other improvements thereon, (ii) all furnishings, fixtures and equipment
located thereon or affixed thereto, (iii) all cash reserves established to
pay for furnishings, fixtures and equipment for such Property, (iv) all
Leases and all Contracts for goods and services provided to such Property, but
if not exclusively provided to such Property, only to the extent actually
provided to such Property,  (iv) all
Licenses related to such Property and (v) all books and records to the
extent related to the foregoing; provided, however, that Property
Assets shall not, in any event, include refunds in respect of property tax or
other liabilities for which any Tenant is liable under any Lease.

 

(42)         “Property Owners”:  the HRPT Subsidiaries listed on Schedule
1.1(42).

 

(43)         “Proceeds”:  all cash received by GOV from the sale of GOV
Common Shares contemplated by the GOV Registration Statement.

 

(44)         “Rules”:  as defined in Section 7.1(a).

 

(45)         “Sale”: as defined in Section 3.1(a).

 

6

 

(46)         “SEC”: the United States
Securities and Exchange Commission.

 

(47)         “Securities Act”:  the United States Securities Act of 1933, and
the rules and regulations of the Commission thereunder, all as from time
to time in effect.

 

(48)         “Subsidiary”:  with respect to any Entity, any other Entity
in which (i) a majority of the voting securities, or other voting
interests which are entitled to elect directors, trustees or similar officials
of such other Entity, or (ii) a majority of the equity interests of such
other Entity, is owned directly or indirectly by such Entity or any Subsidiary
of such Entity.

 

(49)         “Tax Contests”:  as defined in Section 6.5.

 

(50)         “Taxes”:  any net income, gross income, gross receipts,
sales, use, excise, franchise, transfer, payroll, premium, real property or
windfall profits tax, alternative or add-on minimum tax, or other similar tax,
fee or assessment, together with any interest and any penalty, addition to tax
or other additional amount imposed by any Taxing Authority, whether any such
tax is imposed directly or through withholding.

 

(51)         “Taxing Authorities”:  the United States Internal Revenue Service
(or any successor authority) and any other domestic or foreign Governmental
Authority responsible for the administration of any Tax.

 

(52)         “Tax Returns”:  all returns, reports, estimates, information
statements, declarations and other filings relating to, or required to be filed
by any taxpayer in connection with, its liability or reporting for, or its
payment or receipt of any refund of, any Tax.

 

(53)         “Tenants”: collectively, the
tenants under any Lease of all or a portion of the Properties.

 

(54)         “Third-Party Claim”:  any Action asserted by a Person, other than
any party hereto or their respective Affiliates, that gives rise to a right of
indemnification hereunder.

 

SECTION 2

PRELIMINARY ACTIONS, PROPERTIES TRANSFER; ETC.

 

2.1                                 Preliminary
Actions.

 

Prior
to the execution and delivery of this Agreement, the following actions were
taken:

 

(a)           GOV was organized as a Maryland real
estate investment trust on or about February 17, 2009;

 

(b)           HRPT contributed $5,000,000, in cash,
to the capital of GOV on or about February 17, 2009 and an additional $1,766,000,
in cash, to the capital of GOV on or about April 24, 2009;

 

(c)           HRPT advanced $6,015,000 on behalf of
GOV to pay certain GOV Expenses related to the offering of GOV Common Shares on
or about April 24, 2009;

 

(d)           GOV LLC was organized as a Delaware
limited liability company on or about March 23, 2009;

 

7

 

(e)           each of the Property Owners
transferred and conveyed all its right, title and interest in and to all of the
land more particularly described in Schedule 1.1(40) that is
identified in said Schedule as being owned by such Entity, together with any
appurtenances thereto and any buildings, structures or other improvements
thereon and all other Property Assets with respect thereto, to GOV LLC and GOV
LLC assumed and agreed to timely pay, perform, observe and discharge all
Liabilities, whether arising before or after the date of transfer and which are
agreed to be GOV Liabilities for purposes of Section 5.2(b);

 

(f)            THE PROPERTY ASSETS WERE TRANSFERRED
AND CONVEYED “AS IS, WHERE IS”, WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS
OR IMPLIED (INCLUDING ANY EXPRESS OR IMPLIED WARRANTY OF TITLE, OF
MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE);

 

(g)           GOV and GOV LLC entered into the
Credit Facility;

 

(h)           the Board of Trustees of GOV declared
a distribution payable to HRPT, as GOV’s sole shareholder, in the amount of
$250 million, which was paid on or about April 24, 2009;

 

(i)            GOV filed the GOV Registration
Statement and the GOV Registration Statement became effective under the
Securities Act on [·], 2009;

 

(j)            GOV has applied for listing of the
GOV Common Shares for trading on the New York Stock Exchange;

 

(k)           prior to the Effective Date, the
Board of Trustees of GOV declared a distribution to HRPT, as GOV’s sole
shareholder, payable at the commencement of business on the Effective Date (and
prior to the time HRPT ceases to be GOV’s sole shareholder) of all current
assets (excluding any cash representing a portion of the contributions referred
to in Section 2.1(b) or Proceeds), subject to all current
Liabilities (excluding the advance referred to in Section 2.1(c) or any
Liability representing repayment of principal under the Credit Facility) all as
determined as of the close of business on the Effective Date in accordance with
GAAP applied in a manner consistent with past practice of the HRPT Group and
which shall include interest expense and all items of income and expense
customarily prorated in sales transactions involving properties similar to the
Properties including fixed and additional rents, real estate taxes and
assessments and operating expenses;

 

(l)            HRPT’s Board of Trustees (or an
authorized committee thereof) approved the execution and delivery of this
Agreement and ratified and approved the transactions described herein; and

 

(m)          GOV’s Board of Trustees (or an
authorized committee thereof) approved the execution and delivery of this
Agreement and ratified and approved the transactions described herein.

 

2.2                                Other
Action.  Promptly following the
Effective Date, GOV will repay to HRPT the advance referred to in Section 2.1(c).

 

8

 

SECTION 3

POST-EFFECTIVE DATE RIGHTS, OPTIONS AND COVENANTS

 

3.1                                 First
Right to Purchase re: Government Properties Owned by HRPT or its Subsidiaries.

 

(a)           HRPT hereby grants to GOV, subject to
the Declaration of Trust of HRPT, the first right to purchase Government
Properties as provided in this Section 3.1(a).  If HRPT or any HRPT Subsidiary owning a
Government Property determines to offer for sale, mortgage or other financing
(including through a sale and leaseback transaction, each a “Sale”), any
property that at such a time is a Government Property, then prior to entering
into any agreement with respect to such Sale, HRPT shall provide, or cause to
be provided, written notice of such proposed Sale to GOV, describing such
proposed Sale in sufficient detail (including pricing, payment terms, closing
date and other material terms) and offering GOV the right to purchase, mortgage
or finance such Government Property and shall negotiate in good faith with GOV
for such purchase, mortgage or financing by GOV.  If, within fifteen Business Days after HRPT’s
notice, HRPT and GOV have not reached agreement on the terms of such Sale, HRPT
(or such HRPT Subsidiary) will be free to sell, mortgage or finance such Government
Property upon the same or substantially similar terms as those contained in the
written notice described above, free of the restrictions of this Section 3.1,
provided if such Sale has not occurred at a price (or on pricing terms if a
mortgage or other financing) not less than 95% of the price (or pricing terms
if a mortgage or other financing) set forth in the notice within 365 days after
the closing date set forth in such notice, then any future Sale of such
Government Property shall once again be subject to this Section 3.1(a).  The right of first refusal in this Section 3.1(a) shall
terminate at such time as all of the following are satisfied: (i) HRPT no
longer owns directly or indirectly 10% or more of the outstanding GOV Common
Shares, (ii) HRPT and GOV no longer have engaged the same provider of
business management services and (iii) GOV and HRPT no longer have one or
more managing trustees in common.

 

(b)           For purposes of this Section 3.1,
a direct or indirect Change in Control of either HRPT or a Specified Subsidiary
shall be deemed a Sale of HRPT or such Specified Subsidiary, as the case may
be.  HRPT shall provide, or cause to be
provided, prompt written notice of such Change in Control to GOV and negotiate
in good faith with GOV.  GOV shall have
60 days after determination of the Change in Control Purchase Price to purchase
all or any Government Properties owned at that time by HRPT or any HRPT
Subsidiary, or by a Specified Subsidiary, as the case may be, for the
applicable Change in Control Purchase Price.

 

(c)           HRPT agrees that irreparable damage
would occur if its obligations under this Section 3.1 were not
performed in accordance with their terms and that GOV’s remedy at law for HRPT’s
breach of its obligations under this Section 3.1would be
inadequate.  Upon any such breach, GOV
shall be entitled (in addition to any other rights or remedies it may have at
law) to seek an injunction enjoining and restraining HRPT and/or such HRPT
Subsidiary from continuing such breach.

 

9

 

3.2                                 Investments
of HRPT.

 

(a)           After the Effective Date and for so
long thereafter as (i) HRPT owns directly or indirectly 10% or more of the
outstanding GOV Common Shares, (ii) HRPT and GOV both have engaged the
same provider of business management services or (iii) GOV and HRPT have
one or more managing trustees in common, neither HRPT nor any HRPT Subsidiary
will make any investment (including fee interests, leaseholds, joint ventures,
mortgages or other real estate interests) in a Government Property without the
prior approval of a majority of GOV’s Independent Trustees who are not trustees
of HRPT; provided that, if a majority of GOV’s Independent Trustees who are not
trustees of HRPT have determined GOV should not make the investment after the
investment has been presented to them, then HRPT (or such HRPT Subsidiary) may
make the investment without any further approval of any of GOV’s Independent
Trustees.

 

(b)           HRPT agrees that irreparable damage
would occur if its obligations under this Section 3.2 were not
performed in accordance with their terms and that GOV’s remedy at law for the
breach by HRPT or any HRPT Subsidiary of this Section 3.2 would be
inadequate.  Upon any such breach, GOV
shall be entitled (in addition to any other rights or remedies it may have at
law) to seek an injunction enjoining and restraining HRPT and/or such HRPT
Subsidiary from continuing such breach. 
HRPT agrees that the period of restriction and the geographical area of
restriction imposed upon HRPT are fair and reasonable.  If the provisions of this Section 3.2
relating to the period or the area of restriction are determined to exceed the
maximum period or areas which a court having jurisdiction over the matter would
deem enforceable, such period or area shall, for purposes of this Agreement, be
deemed to be the maximum period or area which such court determines valid and
enforceable.

 

3.3                                 Investments
of GOV.

 

(a)           After the Effective Date and for so
long thereafter as (i) HRPT owns directly or indirectly 10% or more of the
outstanding GOV Common Shares, (ii) HRPT and GOV both have engaged the
same provider of business management services or (iii) GOV and HRPT have
one or more managing trustees in common, neither GOV nor any GOV Subsidiary
will make any investment (including fee interests, leaseholds, joint ventures,
mortgages or other real estate interests) in office or industrial real property
which is not a Government Property without the prior approval of a majority of
HRPT’s Independent Trustees who are not trustees of GOV; provided that, if a
majority of HRPT’s Independent Trustees who are not trustees of GOV have
determined that HRPT should not make the investment after the investment has
been presented to them, then GOV (or such GOV Subsidiary) may make the
investment without any further approval of any of HRPT’s Independent Trustees.

 

(b)           GOV agrees that irreparable damage
would occur if its obligations under this Section 3.3 were not
performed in accordance with their terms and that HRPT’s remedy at law for the
breach by GOV or any GOV Subsidiary of this Section 3.3 would be
inadequate.  Upon any such breach, HRPT
shall be entitled (in addition to any other rights or remedies it may have at
law) to seek an injunction enjoining and restraining GOV and/or such GOV
Subsidiary from continuing such breach. 
GOV agrees that the period of restriction and the geographical area of
restriction imposed upon GOV are fair 

 

10

 

and reasonable. 
If the provisions of this Section 3.3 relating to the period
or the area of restriction are determined to exceed the maximum period or areas
which a court having jurisdiction over the matter would deem enforceable, such
period or area shall, for purposes of this Agreement, be deemed to be the
maximum period or area which such court determines valid and enforceable.

 

3.4                                 Expiration
or Termination of Tenancies.

 

(a)           Anything in Section 3.2
to the contrary notwithstanding, the leasing of a property held by HRPT or any
HRPT Subsidiary on the date hereof or which was acquired hereafter, and which (i) is
a Government Property on the date hereof, (ii) was not a Government
Property at the time of acquisition by HRPT or such HRPT Subsidiary or (iii) is
a property the acquisition of which was permitted under Section 3.2,
to one or more Governmental Authorities is not prohibited under Section 3.2.

 

(b)           Anything in Section 3.3
to the contrary notwithstanding, the leasing of a property held by GOV or any
GOV Subsidiary, whether one of the Properties or a property which was acquired
thereafter, and which (i) is one of the Properties, (ii) was a
Government Property at the time of acquisition by GOV or such GOV Subsidiary or
(iii) is a property the acquisition of which was permitted under Section 3.3,
to one or more tenants which are not Governmental Authorities is not prohibited
under Section 3.3.

 

3.5                                 Cooperation,
Exchange of Information, Retention of Records, and Costs of Reporting.

 

(a)           Upon reasonable request, HRPT (on
behalf of the HRPT Group) and GOV (on behalf of the GOV Group) will promptly
provide, and will cause their respective Affiliates to provide, the requesting
party with such cooperation and assistance, documents and other information,
without charge, as may be necessary or reasonably helpful in connection with (i) the
consummation of the transactions contemplated by this Agreement and the
preservation for each such party, to the extent reasonably feasible, of the
benefits of this Agreement (including, in the case of GOV, the economic and
operational benefits of the Properties and Property Assets and in the case of
HRPT, the economic benefits of the distribution contemplated by Section 2.1(k),
(ii) each such party’s preparation and filing of any original or amended
Tax Return or of any financial or other report required to be filed under the
Exchange Act or other applicable law, (iii) the conduct of any audit,
appeal, protest or other examination or any judicial or administrative
proceeding involving to any extent Taxes or Tax Returns within the scope of
this Agreement, and (iv) the verification of an amount payable hereunder
to, or receivable hereunder from, any other party.  In addition, HRPT (on behalf of the HRPT
Group) and GOV (on behalf of the GOV Group) acknowledge and agree that certain
of the Properties are located adjacent to properties which have been retained
by HRPT (or other members of the HRPT Group) and that, in order to maintain the
economic and operational benefits attributable to the proximity of such
Properties and such adjacent properties, the cooperation contemplated hereby
shall include all reasonable cooperation with respect to matters relating to
the enjoyment, preservation and maintenance of all such benefits, including (i) the
maintenance and operation of any common parking or 

 

11

 

other amenities and facilities, (ii) the
provision of any access and other rights, (iii) compliance with zoning rules and
regulations, and (iv) allowances for minor encroachments across property
lines.  Each such party will make its
officers and facilities available on a mutually convenient basis to facilitate
such cooperation.

 

(b)           In furtherance of the obligations of
each of HRPT and GOV pursuant to clause (i) of Section 3.5(a), relative
to the economic and operational benefits of the Properties and Property Assets
and to the economic benefits of the distribution paid under Section 2.1(k),
each of HRPT and GOV will, as needed, act as the agent of the other in the
collection of assets and the payment of Liabilities that belong to the
other.  GOV will, within 30 days
following the Effective Date, prepare and deliver to HRPT a balance sheet
reflecting the current assets and current Liabilities which were the subject of
the distribution paid under Section 2.1(k).  Contemporaneous with the delivery of the
balance sheet, GOV will remit to HRPT any amounts representing such current
assets then collected by GOV on behalf of HRPT, net of any amounts representing
current Liabilities then paid by GOV on behalf of HRPT, all as set forth on
such balance sheet; thereafter, as amounts representing current assets, net of
current Liabilities, are received or paid by GOV on behalf of HRPT, upon demand
but in any event not less often than monthly, GOV will remit to HRPT the excess
(if any) of such amounts collected over such amounts paid (in each case since
the last remittance between HRPT and GOV), and HRPT shall remit to GOV the
deficit (if any) of such amounts paid over such amounts collected (in each case
since the last remittance between HRPT and GOV).

 

(c)           For purposes of preparing the balance
sheet referred to in Section 3.5(b), the following items of income and
expense with respect to the Properties, determined as of the close of business
on the Effective Date, shall be included in the determination of current assets
and current Liabilities: (i) rent and additional rent payable under the
Leases; (ii) real estate taxes and assessments payable based on the rates
and assessed valuations applicable in the tax year during which the Effective
Date occurs; (iii) electricity, water and other utility charges payable; (iv) interest
expense under the Credit Facility; and (v) all other items of income and
expense as are customarily prorated in sales transactions involving properties
similar to the Properties.  If any of the
foregoing items cannot be determined as of the date on which the balance sheet
is to be delivered due to the unavailability of information, such items shall
be included on the basis of a good faith estimate by GOV and adjusted and
reconciled as soon as practicable thereafter. 
If after the Effective Date, HRPT or any HRPT Subsidiary receives rent
or additional rent due under any Lease, it will promptly pay such amounts to
GOV.  Any rent or additional rent
received by GOV shall be applied to rent and additional rent due in the inverse
order of their due dates, and GOV shall remit to HRPT any such rent or
additional rent attributable to HRPT in accordance with Section 3.5(b).  To the extent rent and additional rent
payable under the Leases are to be paid to HRPT as part of the distribution
paid under Section 2.1(k), HRPT shall not have any right to take
any action to collect the same and GOV shall use commercially reasonable
efforts to do so except that GOV shall have no obligation to institute an
Action to enforce its rights.

 

(d)           Each of HRPT and GOV will retain or
cause to be retained all books, records and other documents within its
possession or control relating to the Property 

 

12

 

Assets and all Tax Returns, and all books, records,
schedules, workpapers, and other documents relating thereto, which Tax Returns
and other materials are within the scope of this Agreement, until the
expiration of the later of (i) all applicable statutes of limitations
(including any waivers or extensions thereof), and (ii) any retention
period required by applicable law or pursuant to any record retention
agreement.

 

(e)           Each of HRPT and GOV will cooperate
to enforce the ownership limitations in their respective declarations of trust
to promote orderly governance and to maintain the ability of each of HRPT and
GOV to qualify as a “real estate investment trust” under Sections 856 through
860 of the Code.

 

3.6                                 Restrictions.

 

After the
Effective Date, and for so long thereafter as HRPT owns 9.8% or more of the
outstanding GOV Common Shares, (a) GOV (together with its Affiliates) will
not actually or constructively (within the meaning of Section 856(d) of
the Code, but excepting any constructive attribution from HRPT and its
Affiliates) acquire or own more than 4.9% of the outstanding securities (by
vote or value) of any Entity which is also a tenant of HRPT or its Affiliates, (b) HRPT
(together with its Affiliates) will not actually or constructively (within the
meaning of Section 856(d) of the Code, but excepting any constructive
attribution from GOV and its Affiliates) acquire or own more than 4.9% of the
outstanding securities (by vote or value) of any Entity which is also a tenant
of GOV or its Affiliates, (c) GOV will not take (or permit its Affiliates
to take) any action that, in the reasonable judgment of HRPT, might reasonably
be expected to have an adverse impact on the ability of HRPT to qualify as a “real
estate investment trust” under Sections 856 through 860 of the Code, and (d) HRPT
will not take (or permit its Affiliates to take) any action that, in the
reasonable judgment of GOV, might reasonably be expected to have an adverse
impact on the ability of GOV to qualify as a “real estate investment trust”
under Sections 856 through 860 of the Code.

 

SECTION 4

REPRESENTATIONS

 

Each
party hereto represents and warrants to the other that (i) it is duly
authorized to enter into and perform this Agreement and has duly executed and
delivered this Agreement, (ii) the execution, delivery and performance of
its obligations under this Agreement will not conflict with or result in a
breach of or default under or a violation of its Charter, any material Contract
to which it is a party or by which any of its assets or its Subsidiaries are
bound or any order, judgment, decree, permit, statute, law, rule or
regulation to which it or any of its Subsidiaries is subject, and (iii) this
Agreement constitutes its valid and binding obligation, enforceable in
accordance with its terms, subject to (A) bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement
generally of creditors’ rights and remedies, (B) general principles of
equity (regardless of whether considered in a proceeding at law or in equity),
including the discretion of any court of competent jurisdiction in granting
specific performance or other equitable relief, and (C) an implied duty to
take action and make determinations on a reasonable basis and in good faith.

 

13

 

SECTION 5

INDEMNIFICATION

 

5.1                               Indemnification
by HRPT.

 

From
and after the Effective Date, HRPT shall indemnify and hold harmless GOV, its
Subsidiaries, each of their respective directors, trustees, officers, employees
and agents, and each of the heirs, executors, successors and assigns of any of
the foregoing (collectively, the “GOV Indemnified Parties”) from and
against any and all damages, claims, losses, expenses, costs, obligations and
liabilities, including liabilities for all reasonable attorneys’, accountants’,
and experts’ fees and expenses, including those incurred to enforce the terms
of this Agreement (collectively, “Covered Liabilities”), suffered,
directly or indirectly, by any GOV Indemnified Party by reason of, or arising
out of;

 

(a)           any breach of any covenant or
agreement of HRPT contained in this Agreement; or

 

(b)           any HRPT Liabilities.

 

5.2                               Indemnification
by GOV.

 

From
and after the Effective Date, GOV shall indemnify and hold harmless HRPT, its
Subsidiaries, each of their respective directors, trustees, officers, employees
and agents, and each of the heirs, executors, successors and assigns of any of
the foregoing (collectively, the “HRPT Indemnified Parties”) from and
against any and all Covered Liabilities suffered, directly or indirectly, by
any HRPT Indemnified Party by reason of, or arising out of:

 

(a)           any breach of any covenant or
agreement of GOV contained in this Agreement; or

 

(b)           any GOV Liabilities.

 

5.3                               Certain
Limitations, Etc.

 

The
amount of any Covered Liabilities for which indemnification is provided under
this Agreement shall be net of any amounts actually recovered by the
indemnified party from third parties (including amounts actually recovered
under insurance policies) with respect to such Covered Liabilities.  Any indemnifying party hereunder shall be
subrogated to the rights of the indemnified party upon payment in full of the
amount of the relevant indemnifiable loss. 
An insurer who would otherwise be obligated to pay any claim shall not
be relieved of the responsibility with respect thereto or, solely by virtue of
the indemnification provision hereof, have any subrogation rights with respect
thereto. If any indemnified party recovers an amount from a third party in
respect of an indemnifiable loss for which indemnification is provided in this
Agreement after the full amount of such indemnifiable loss has been paid by an
indemnifying party or after an indemnifying party has made a partial payment of
such indemnifiable loss and the amount received from the third party exceeds
the remaining unpaid balance of such indemnifiable loss, then the indemnified
party shall promptly remit to the indemnifying party the excess of (i) the
sum of the amount theretofore paid by such 

 

14

 

indemnifying party in respect of such indemnifiable
loss plus the amount received from the third party in respect thereof, less (ii) the
full amount of such Covered Liabilities.

 

5.4                               Priority
of Section 6.

 

As to
the Tax matters addressed in Section 6, including the
indemnification for Taxes and the notice, control and conduct of Tax Contests,
the provisions of Section 6 shall be the exclusive governing
provisions.

 

SECTION 6

TAX MATTERS

 

6.1                               General
Responsibility for Taxes.

 

(a)           All federal Income Taxes of the HRPT
Group shall be borne by, shall be the responsibility of, and shall be paid by
the HRPT Group, and all federal Income Taxes of the GOV Group shall be borne
by, shall be the responsibility of, and shall be paid by the GOV Group.  For purposes of federal Income Taxes, items
of income, gain, loss, deduction, expenditure, and credit shall be allocated
and apportioned between the HRPT Group and the GOV Group in the following
manner.  Any item relating to the
Property Assets or the GOV Group shall be: 
(i) allocated exclusively to the HRPT Group if such item is in
respect of a period ending before the Effective Date; (ii) allocated
exclusively to the GOV Group if such item is in respect of a period commencing
after the Effective Date; and (iii) apportioned, if such item is in
respect of a period that includes the Effective Date, between the HRPT Group
and the GOV Group in a manner consistent with (A) applicable Tax laws
(including the analogous principles of Section 1.1361-5(a)(1)(iii) of
the Treasury Regulations under which the GOV Group would cease to be a
qualified REIT subsidiary of the HRPT Group at the close of the Effective
Date), (B) the continued qualification of both HRPT and GOV as real estate
investment trusts under the Code, and (C) commercially reasonable
prorations of items between transferors and transferees of real estate.

 

(b)           For any state or local Income Tax
that follows Section 856(i) of the Code and Section 301.7701-2(c)(2)(i) of
the Treasury Regulations, (i) such state and local Income Taxes of the
HRPT Group shall be borne by, shall be the responsibility of, and shall be paid
by HRPT, and (ii) such state and local Income Taxes of the GOV Group shall
be borne by, shall be the responsibility of, and shall be paid by GOV; for purposes
of such state and local Income Taxes, items of income, gain, loss, deduction,
expenditure, and credit shall be allocated and apportioned between the HRPT
Group and the GOV Group in the same manner as Section 6.1(a).

 

(c)           State or local Income Taxes of any
member of the HRPT Group that are not covered by Section 6.1(b) shall
be borne by, shall be the responsibility of, and shall be paid by HRPT.  State or local Income Taxes of any member of
the GOV Group that are not covered by Section 6.1(b), without duplication
for Taxes included in current Liabilities as part of the distribution in Section 2.1(k),
shall be:  (i) allocated exclusively
to the HRPT Group if such item is in respect of a portion of a period prior to
the Effective 

 

15

 

Date; (ii) allocated exclusively to the GOV Group
if such item is in respect of a portion of a period following the Effective
Date; and (iii) allocated under the apportionment principles of Section 6.1(a)(iii) if
such item arises during a portion of a period including the Effective Date.

 

(d)           Other Taxes (other than those
included in GOV Expenses) of any member of the GOV Group shall be allocated,
but without duplication for Taxes included in current Liabilities as part of
the distribution in Section 2.1(k), consistent with the
apportionment principles of Section 6.1(a)(iii), between the HRPT
Group and the GOV Group on the basis of actual transactions, events or
activities (including, if applicable, days elapsed) that give rise to or create
liability for such Taxes on or before the Effective Date (to be borne by, be
the responsibility of, and be paid by, the HRPT Group) versus those that give
rise to create liability for such Taxes after the Effective Date (to be borne
by, be the responsibility of, and be paid by the GOV Group).

 

(e)           HRPT shall hold GOV harmless from and
against all Taxes which are to be borne by the HRPT Group under this Section 6.1.  GOV shall hold HRPT harmless from and against
all Taxes which are to be borne by the GOV Group under this Section 6.1.

 

6.2                               Allocation
of Certain Taxes among Taxable Periods.

 

HRPT
and GOV agree that if GOV or any member of the GOV Group is permitted but not
required under any applicable Tax law, including applicable state and local Income
Tax laws, to treat the day before the Effective Date or the Effective Date as
the last day of a taxable period, HRPT and GOV shall cooperate so that such day
will be treated as the last day of a taxable period.

 

6.3                               Filing
and Payment Responsibility.

 

(a)           Each of HRPT (on behalf of the HRPT
Group) and GOV (on behalf of the GOV Group) shall cause to be prepared and
filed such Tax Returns as the HRPT Group and the GOV Group, respectively, are
required to file with applicable Taxing Authorities.  Each of HRPT (on behalf of the HRPT Group)
and GOV (on behalf of the GOV Group) agree that, except as required by
applicable law or a final determination resulting from a Tax Contest (defined
below) including either HRPT or GOV, they will not take positions in any such
Tax Return that are inconsistent with (i) the description of federal
Income Tax consequences in the GOV Registration Statement or in a report on
Form 8-K to be filed by HRPT with the Securities and Exchange Commission on or
immediately after the Effective Date and (ii) and any other Tax Return,
whether filed on behalf of the HRPT Group or the GOV Group, previously or
substantially contemporaneously filed with such Tax Return.  In particular, HRPT and GOV will use all
reasonable business efforts to cooperate with one another in valuing the
individual assets comprising the Property Assets, to the extent such valuations
are necessary for Tax purposes.

 

(b)           To the extent that either of the HRPT
Group or the GOV Group bears responsibility pursuant to Section 6.1
for some or all of a Tax which is to be paid with a Tax Return for which the
other bears preparation and filing responsibility pursuant to 

 

16

 

Section 6.3, then (i) the
party bearing responsibility for some or all of such Tax shall have the right
to review and comment upon such Tax Return at least fifteen (15) days before
such Tax Return must be filed, (ii) the party bearing responsibility for
some or all of such Tax shall pay over by wire transfer the amount of such Tax
for which it is responsible to the party filing such Tax Return at least three (3) days
before such Tax Return must be filed, and (iii) the party responsible for
preparing and filing such Tax Return will file such Tax Return on or before its
due date and pay over to the applicable Taxing Authority the amount of Tax due
with such Tax Return.

 

(c)           GOV will file, effective as of seven
days prior to the Effective Date, an affirmative election on Internal Revenue
Service Form 8832 to be taxed as an association taxable as a corporation,
such that GOV on the Effective Date will be a “qualified REIT subsidiary” of
HRPT within the meaning of Section 856(i) of the Code.  GOV will not cause or permit the filing of
any election on Internal Revenue Service Form 8832 with respect to any of
its Subsidiaries in respect of any period preceding or including the Effective
Date, such that the GOV Subsidiaries through the Effective Date will remain “disregarded
entities” of HRPT within the meaning of Section 301.7701-3 of the Treasury
Regulations under Section 7701 of the Code.

 

(d)           HRPT and GOV shall cooperate to file,
effective as of the day after the Effective Date, a Code Section 856(l) “taxable
REIT subsidiary” election for HRPT’s investment in GOV after the Effective
Date, and at HRPT’s request shall renew and refile such election effective each
January 1 thereafter for so long as HRPT continues to own 9.8% or more of
GOV’s outstanding Common Shares.

 

6.4                               Refunds
and Credits.

 

Any
refunds or credits of Taxes shall be for the account of the party bearing
responsibility for such Taxes under Section 6.1  Each of HRPT and GOV agrees that if as the
result of any audit adjustment made by any Taxing Authority with respect to a
Tax to be borne by the other party under Section 6.1, any member of
the HRPT Group or the GOV Group, respectively, receives a Tax benefit in the
form of a cash refund or in the form of a credit applicable against Tax
liabilities to be borne by such benefited party under this Section 6,
then the benefited party shall notify the other party of the same within ten (10) days
of, as applicable, receiving the cash refund or filing the Tax Return in which
such credit is utilized, and then pay over immediately to such other party the
amount of such Tax refund or credit.

 

6.5                               Tax
Contests.

 

If
either HRPT (on behalf of the HRPT Group) or GOV (on behalf of the GOV Group)
becomes aware of any audit, pending or threatened assessment, official inquiry,
examination or proceeding (“Tax Contests”) that could result in an
official determination with respect to Taxes due or payable, the responsibility
for any portion of which may rest with the other party, such party shall
promptly so notify the other party in writing. 
The party bearing greater responsibility for the Taxes contested in a
Tax Contest shall bear the costs (including attorneys’ and accountants’ fees,
but excluding the contested Taxes) of such Tax Contest, and shall control and
conduct such Tax Contest in a reasonable manner after consulting in good faith
with the other 

 

17

 

party.  The
other party shall supply the party controlling the Tax Contest with such powers
of attorney and assistance as may be reasonably requested.  The responsibility for any additional
liability for Taxes resulting from a Tax Contest shall be allocated and
apportioned between the HRPT Group and the GOV Group in accordance with Section 6.1.  Except to the extent in conflict with the
provisions of this Section 6, the provisions of Section 5.3
shall be applicable to Tax Contests.

 

SECTION 7

MISCELLANEOUS

 

7.1          Arbitration.  (a) Any disputes, claims or
controversies between the parties (i) arising out of or relating to this
Agreement or the transactions contemplated hereby, or (ii) brought by or on
behalf of any shareholder of either HRPT or GOV (which, for purposes of this
Section 7, shall mean any shareholder of record or any beneficial owner of
shares of either HRPT or GOV, or any former shareholder of record or beneficial
owner of Shares of either HRPT or GOV), either on its own behalf, on behalf of
either HRPT or GOV or on behalf of any series or class of shares of either HRPT
or GOV or shareholders of either HRPT or GOV against either HRPT or GOV or any
trustee, officer, manager (including Reit Management & Research LLC or its
successor), agent or employee of either HRPT or GOV, including disputes, claims
or controversies relating to the meaning, interpretation, effect, validity,
performance or enforcement of this Agreement, the Decleration of Trust or the
Bylaws of either HRPT or GOV (all of which are referred to as “Disputes”)
or relating in any way to such a Dispute or Disputes, shall on the demand of
any party to such Dispute be resolved through binding and final arbitration in accordance
with the Commercial Arbitration Rules (the “Rules”) of the American
Arbitration Association (“AAA”) then in effect, except as modified
herein.  For the avoidance of doubt, and
not as a limitation, Disputes are intended to include derivative actions
against trustees, officers or managers of either HRPT or GOV and class actions
by a shareholder of either HRPT or GOV against those individuals or entities
and either HRPT and GOV.

 

(b)           There
shall be three arbitrators.  If there are
(i) only two parties to the Dispute, each party shall select one
arbitrator within 15 days after receipt by respondent of a copy of the demand
for arbitration and (ii) more than two parties to the Dispute, all
claimants, on the one hand, and all respondents, on the other hand, shall each
select, by the vote of a majority of the claimants or the respondents, as the
case may be, one arbitrator.  The two
party-nominated arbitrators shall jointly nominate the third and presiding
arbitrator within 15 days of the nomination of the second arbitrator.  If any arbitrator has not been nominated
within the time limit specified herein, then the AAA shall provide a list of
proposed arbitrators in accordance with the Rules, and the arbitrator shall be
appointed by the AAA in accordance with a listing, striking and ranking
procedure, with each party having a limited number of strikes, excluding
strikes for cause.  For the avoidance of
doubt, the arbitrators appointed by the parties to such Dispute may be
affiliates or interested persons of such parties but the third arbitrator
elected by the party arbitrators or by the AAA shall be unaffiliated with
either party.

 

(c)           The place of arbitration shall be Boston, Massachusetts
unless otherwise agreed by the parties.

 

(d)           There shall be only limited documentary discovery of
documents directly related to the issues in dispute, as may be ordered by the
arbitrators.

 

(e)           In rendering an award or decision (the “Award”),
the arbitrators shall be required to follow the laws of the Commonwealth of
Massachusetts.  Any arbitration
proceedings or Award rendered hereunder and the validity, effect and
interpretation of this arbitration agreement shall be governed by the Federal
Arbitration Act, 9 U.S.C. §1 et seq.  The
Award shall be in writing and may, but shall not be required to, briefly state
the findings of fact and conclusions of law on which it is based.

 

18

 

(f)                                   Except
to the extent expressly provided by this Agreement or as otherwise agreed
between the parties, each party involved in a Dispute shall bear its own costs
and expenses (including attorneys’ fees), and the arbitrators shall not render
an award that would include shifting of any such costs or expenses (including
attorneys’ fees) or, in a derivative case or class action by a shareholder of
either HRPT or GOV, award any portion of HRPT’s or GOV’s award to the claimant
or claimant’s attorneys.  Each party (or,
if there are more than two parties to the Dispute, all claimants, on the one
hand, and all respondents, on the other hand, respectively) shall bear the
costs and expenses of its (or their) selected arbitrator and the parties (or,
if there are more than two parties to the Dispute, all claimants, on the one
hand, and all respondents, on the other hand) shall equally bear the costs and
expenses of the third appointed arbitrator.

 

(g)                                  The Award shall be
final and binding upon the parties thereto and shall be the sole and exclusive
remedy between such parties relating to the Dispute, including any claims,
counterclaims, issues or accounting presented to the arbitrators.  Judgment upon the Award may be entered in any
court having jurisdiction.  To the
fullest extent permitted by law, no application or appeal to any court of
competent jurisdiction may be made in connection with any question of law
arising in the course of arbitration or with respect to any award made except
for actions relating to enforcement of this agreement to arbitrate or any
arbitral award issued hereunder and except for actions seeking interim or other
provisional relief in aid of arbitration proceedings in any court of competent
jurisdiction.

 

(h)                                 Any monetary award
shall be made and payable in U.S. dollars free of any tax, deduction or
offset.  The party against which the
Award assesses a monetary obligation shall pay that obligation on or before the
30th day following the date of the Award or such
other date as the Award may provide.

 

7.2                               Notices.

 

(a)           Any and all notices, demands,
consents, approvals, offers, elections and other communications required or
permitted under this Agreement shall be deemed adequately given if in writing
and the same shall be delivered either in hand, or by telecopy or by Federal
Express or similar expedited commercial carrier, addressed to the recipient of
the notice, and with all freight charges prepaid (if by Federal Express or
similar carrier).

 

(b)           All notices required or permitted to
be sent hereunder shall be deemed to have been given for all purposes of this
Agreement upon the date of receipt or refusal, except that whenever under this
Agreement a notice is either received on a day which is not a Business Day or
is required to be delivered on or before a specific day which is not a Business
Day, the day of receipt or required delivery shall automatically be extended to
the next Business Day.

 

(c)           All such notices shall be addressed:

 

If to
GOV, to:

 

Government Properties
Income Trust

400 Centre Street

Newton, Massachusetts
02458

Attn:  President

Telecopy no:  (617) 219-1441

 

With a
copy to:

 

19

 

Skadden, Arps, Slate,
Meagher & Flom LLP

1 Beacon Street

Boston, MA  02108

Attn.:

Telecopy No.  (617)
573-4822

 

If to HRPT, to:

 

HRPT Properties Trust

400 Centre Street

Newton,
Massachusetts  02458

Attn:  President

Telecopy no:  (617)

 

With a copy to:

 

Sullivan &
Worcester LLP

One Post Office Square

Boston, MA  02109

Attn.:

Telecopy no. (617)
338-2880

 

(d)           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 up to two other addresses within the United States of America.

 

7.3           Waivers, Etc.

 

No
provision of this Agreement may be waived except by a written instrument signed
by the party waiving compliance. No waiver by any party hereto of any of the
requirements hereof or of any of such party’s rights hereunder shall release
the other parties from full performance of their remaining obligations stated
herein. No failure to exercise or delay in exercising on the part of any party
hereto any right, power or privilege of such party shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, power or
privilege preclude any other or further exercise thereof or the exercise of any
other right, power or privilege by such party. 
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.

 

20

 

7.4           Assignment;
Successors and Assigns; Third Party Beneficiaries.

 

This Agreement and
all rights and obligations hereunder shall not be assignable by any party
without the written consent of the other parties, except to a successor to such
party by merger or consolidation or an assignee of substantially all of the
assets of such party.  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 Person.

 

7.5           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.

 

7.6           Counterparts, Etc.

 

This
Agreement may be executed in counterparts, 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.

 

7.7           Governing Law.

 

This
Agreement shall be interpreted, construed, applied and enforced in accordance
with the laws of the Commonwealth of Massachusetts applicable to contracts
between residents of Massachusetts which are to be performed entirely within
Massachusetts.

 

7.8           Section and Other Headings; Interpretation.

 

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.  The words “hereof”, “herein” and “hereunder”
and words of similar import when used in this Agreement shall refer to this
Agreement as a whole and not to any particular provision of this Agreement; and
Section, subsection and Schedule references are to this Agreement, unless
otherwise specified.  The words “including”
and “include” shall be deemed to be followed by the words “without limitation.”

 

21

 

7.9           Exculpation.

 

(a)           THE
AMENDED AND RESTATED DECLARATION OF TRUST ESTABLISHING HRPT, DATED JULY 1,
1994, A COPY OF WHICH, TOGETHER WITH ALL AMENDMENTS AND SUPPLEMENTS THERETO, IS
DULY FILED IN THE OFFICE OF THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION OF
MARYLAND, PROVIDES THAT THE NAME “HRPT PROPERTIES TRUST” REFERS TO THE TRUSTEES
UNDER THE DECLARATION OF TRUST COLLECTIVELY AS TRUSTEES, BUT NOT INDIVIDUALLY
OR PERSONALLY, AND THAT NO TRUSTEE, OFFICER, SHAREHOLDER, EMPLOYEE OR AGENT OF
HRPT SHALL BE HELD TO ANY PERSONAL LIABILITY, JOINTLY OR SEVERALLY, FOR ANY
OBLIGATION OF, OR CLAIM AGAINST, HRPT. ALL PERSONS DEALING WITH HRPT, IN ANY
WAY, SHALL LOOK ONLY TO THE ASSETS OF HRPT FOR THE PAYMENT OF ANY SUM OR THE
PERFORMANCE OF ANY OBLIGATION.

 

(b)           THE AMENDED AND
RESTATED DECLARATION OF TRUST ESTABLISHING GOV, DATED [•], 2009, A COPY
OF WHICH IS DULY FILED IN THE OFFICE OF THE STATE DEPARTMENT OF ASSSESSMENTS
AND TAXATION OF MARYLAND, PROVIDES THAT THE NAME “GOVERNMENT PROPERTIES INCOME
TRUST” REFERS TO THE TRUSTEES UNDER THE DECLARATION OF TRUST COLLECTIVELY AS
TRUSTEES, BUT NOT INDIVIDUALLY OR PERSONALLY, AND THAT NO TRUSTEE, OFFICER,
SHAREHOLDER, EMPLOYEE OR AGENT OF GOV SHALL BE HELD TO ANY PERSONAL LIABILITY,
JOINTLY OR SEVERALLY, FOR ANY OBLIGATION OF, OR CLAIM AGAINST, GOV. ALL PERSONS
DEALING WITH GOV, IN ANY WAY, SHALL LOOK ONLY TO THE ASSETS OF GOV FOR THE
PAYMENT OF ANY SUM OR THE PERFORMANCE OF ANY OBLIGATION.

 

THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.

 

22

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed as a
sealed instrument as of the date first above written.

 

	
   

  	
  HRPT PROPERTIES TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GOVERNMENT PROPERTIES
  INCOME TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:

  

 

23

 

SCHEDULE
1.1(36)

 

LEASES

 

201 East Indianola Avenue, Phoenix, Maricopa County, Arizona

 

The
United States of America (the “U.S. Government”):

 

1.                                       U.S Government
Lease for Real Property (GSA Lease No. GS-09B-94939), dated as of April 10,
1997, by and between Chen & Fei Corporation, Lawco of Washington, Inc.
(“Chen Fei”) and the U.S. Government;

 

2.                                       Assignment of
Lease Agreement, dated as of May 15, 1997, by and between Chen Fei and Hub
Realty Funding, Inc. (“Hub Funding”);

 

3.                                       Supplemental
Lease Agreement No. 1, dated as of April 22, 1998, by and between Hub
Funding and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 2, dated as of April 2, 1998, by and between Hub Funding
and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 3 (undated) by and between Hub Funding and the U.S.
Government;

 

6.                                       Supplemental
Lease Agreement No. 4, dated as of May 15, 1999, by and between Hub Funding
and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 5, dated as of July 20, 1999, by and between Hub Funding
and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 6, dated as of September 30, 1999, by and between
Hub Funding and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 7, dated as of March 1, 2000, by and between Hub Funding
and the U.S. Government;

 

10.                                 Supplemental Lease Agreement
No. 8, dated as of March 1, 2000, by and between Hub Funding and the
U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 9, dated as of December 13, 2000, by and between Hub Funding and
the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 10, dated as of August 12, 2003, by and between Hub Funding and
the U.S. Government;

 

13.                                 Supplemental Lease Agreement
No. 11, dated as of March 15, 2004, by and between Hub Funding and
the U.S. Government;

 

14.                                 Supplemental Lease Agreement
No. 12, dated as of May 23, 2006, by and between Hub Funding and the
U.S. Government;

 

15.                                 Supplemental Lease Agreement
No. 13, dated as of August 1, 2006, by and between Hub Funding and
the U.S. Government;

 

1

 

16.                                 Supplemental Lease Agreement
No. 14, dated as of October 26, 2006, by and between Hub Funding and
the U.S. Government;

 

17.                                 Supplemental Lease Agreement
No. 15, dated as of April 3, 2008, by and between Hub Funding and the
U.S. Government; and

 

18.                                 Supplemental Lease Agreement
No. 16 (undated) by and between Hub Funding and the U.S. Government.

 

5045 East Butler Avenue, Fresno, CA

 

U.S.
Government (Internal Revenue Service):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-09B-01110), dated November 28,
2001, by and between Russell & Associates – Fresno (“Russell”)
and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 2, dated as of March 29, 2002, by and between Russell
and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 3-Assignment, dated as of November 11, 2002, by and
among Russell, Hub Acquisition Trust (“Hub Acquisition”) and the U.S. Government;
and

 

4.                                       Supplemental
Lease Agreement No. 4, dated as of December 16, 2002, by and between Hub
Acquisition and the U.S. Government.

 

9797 Aero Drive, San Diego, CA

 

U.S.
Government (Federal Bureau of Investigation):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-09B-92887), dated as of January 19,
1994, by and between DAI Industrial Partnership (“DAI”) and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of August 19, 1994, by and between
DAI and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of December 15, 1994, by and between DAI
and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of February 23, 1995, by and between DAI
and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of April 10, 1995, by and between DAI
and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of June 23, 1995, by and between Rosecliff
Realty Funding, Inc. (“Rosecliff”) and the U.S. Government;

 

2

 

7.                                       Supplemental
Lease Agreement No. 6, dated as of April 25, 1997, by and between Rosecliff
and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 7, effective as of October 29, 1997, by and
between Hub Funding and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 8 (undated) by and between Hub Funding and the U.S.
Government;

 

10.                                 Supplemental Lease Agreement
No. 9, dated as of February 10, 1998, by and between Hub Funding and
the U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 10, dated as of July 31, 1998, by and between Hub Funding and the
U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 10, dated as of December 6, 2001, by and between Hub Funding and
the U.S. Government;

 

13.                                 Supplemental Lease Agreement
No. 11, dated as of December 17, 2002, by and between India Street
Investors and the U.S. Government;

 

14.                                 Supplemental Lease Agreement
No. 12, dated as of January 8, 2004, by and between Hub Funding and
the U.S. Government;

 

15.                                 Supplemental Lease Agreement
No. 13, dated as of March 3, 2005, by and between Hub Funding and the
U.S. Government;

 

16.                                 Supplemental Lease Agreement
No. 14, dated as of December 14, 2006, by and between Hub Funding and
the U.S. Government;

 

17.                                 Supplemental Lease Agreement
No. 15, dated as of August 2, 2007, by and between Hub Funding and
the U.S. Government; and

 

18.                                 Supplemental Lease Agreement
No. 16, dated as of March 10, 2008, by and between Hub Funding and
the U.S. Government.

 

9174 Sky Park Centre, San Diego, CA

 

State
of California (Department of Motor Vehicles):

 

1.                                       Lease
Agreement, dated as of January 7, 2008, by and between Hub Properties
Trust (“Hub”) and through the Director of the Department of General
Services acting on behalf of the State of California.

 

State of California (Department of Water
Quality Control Board):

 

1.                                       Lease
Agreement, dated as of January 23, 2008, by and between Hub and through
the Director of the Department of General Services on behalf of California.

 

3

 

Hub Properties Trust

 

1.                                       Building Lease,
dated as of April 23, 2009, by and between Hub, as Landlord, and Hub, as
Tenant.

 

4560 Viewridge Drive, San Diego, CA

 

U.S.
Government (Drug Enforcement Agency):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-09B-91462), dated as of March 25,
1995, by and between Western Devcon, Inc. (“Western Devcon”) and
the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of June 2, 1995, by and between
Western Devcon and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2 (undated) by and between Roseview San Diego Limited
Partnership c/o Western Devcon and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of July 10, 1995, by and between Roseview
San Diego Limited Partnership c/o Western Devcon and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of October 11, 1995, by and between Roseview
San Diego Limited Partnership c/o Western Devcon and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of January 17, 1996, by and between Roseview
San Diego Limited Partnership c/o Western Devcon and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 6, dated as of April 3, 1996, by and between Roseview
San Diego Limited Partnership c/o Western Devcon and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 7, dated as of May 15, 1996, by and between Roseview
San Diego Limited Partnership c/o Western Devcon and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 8, dated as of July 3, 1996, by and between Roseview
San Diego Limited Partnership c/o Western Devcon and the U.S. Government;

 

10.                                 Supplemental Lease Agreement
No. 9 (undated) by and between Roseview San Diego Limited Partnership c/o
Western Devcon and the U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 10, dated as of December 5, 1996, by and between Roseview San
Diego Limited Partnership c/o Western Devcon and the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 11, dated as of July 27, 1998, by and between Hub Acquisition and
the U.S. Government;

 

13.                                 Supplemental Lease Agreement
No. 12 (undated) by and between Hub Acquisition and the U.S. Government;

 

14.                                 Supplemental Lease Agreement
No. 13, dated as of November 10, 1998, by and between Hub Acquisition
and the U.S. Government;

 

15.                                 Supplemental Lease Agreement
No. 14, dated as of July 17, 2000, by and between Hub Acquisition and
the U.S. Government;

 

4

 

16.                                 Supplemental Lease Agreement
No. 15, dated as of September 24, 2004, by and between Hub
Acquisition and the U.S. Government;

 

17.                                 Supplemental Lease Agreement
No. 16, dated as of October 3, 2003, by and between Hub Acquisition
and the U.S. Government; and

 

18.                                 Supplemental Lease Agreement
No. 17, dated as of August 8, 2005, by and between Hub Acquisition
and the U.S. Government.

 

16194 West 45th Drive, Golden, CO

 

U.S.
Government (Environmental Protection Agency):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-08P-13300), dated as of April 17,
1995, by and between Amelang Partners, Inc. (“Amelang”) and the
U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1 (undated) by and between Amelang and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of August 1, 1996, by and between Amelang
and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of August 17, 1998, by and between Amelang
and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of September 15, 1998, by and between
Hub Realty Golden, Inc. (“Hub Golden”) and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of October 28, 1998, by and between Hub
Golden and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 6, dated as of September 21, 1999, by and between
Hub Golden and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 7, dated as of August 30, 2000, by and between
Hub Golden and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 8 (undated) by and between Hub Golden and the U.S.
Government;

 

10.                                 Supplemental Lease Agreement
No. 9, dated as of September 12, 2001, by and between Hub Golden and
the U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 10, dated as of December 11, 2001, by and between Hub Golden and
the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 11 (undated) by and between Hub Golden and the U.S. Government;

 

13.                                 Supplemental Lease Agreement
No. 12, dated as of February 13, 2002, by and between Hub Golden and
the U.S. Government;

 

5

 

14.                                 Supplemental Lease Agreement
No. 13, dated as of February 27, 2002, by and between Hub Golden and
the U.S. Government;

 

15.                                 Supplemental Lease Agreement
No. 14, dated as of August 7, 2002, by and between Hub Golden and the
U.S. Government;

 

16.                                 Supplemental Lease Agreement
No. 15, dated as of May 15, 2003, by and between Hub Golden and the
U.S. Government;

 

17.                                 Supplemental Lease Agreement
No. 16, dated as of September 9, 2003, by and between Hub Golden and
the U.S. Government;

 

18.                                 Supplemental Lease Agreement
No. 17, dated as of August 10, 2004, by and between Hub Golden and
the U.S. Government;

 

19.                                 Supplemental Lease Agreement
No. 18, dated as of December 14, 2004, by and between Hub Golden and
the U.S. Government;

 

20.                                 Supplemental Lease Agreement
No. 19, dated as of February 18, 2005, by and between Hub Golden and
the U.S. Government;

 

21.                                 Supplemental Lease Agreement
No. 19, dated as of March 18, 2005, by and between Hub Golden and the
U.S. Government;

 

22.                                 Supplemental Lease Agreement
No. 20, dated as of May 13, 2005, by and between Hub Golden and the
U.S. Government;

 

23.                                 Supplemental Lease Agreement
No. 21, dated as of October 17, 2007, by and between Hub Golden and
the U.S. Government;

 

24.                                 Supplemental Lease Agreement
No. 22, dated as of October 17, 2007, by and between Hub Golden and
the U.S. Government;

 

25.                                 Supplemental Lease Agreement
No. 23, dated as of November 6, 2008, by and between Hub Golden and
the U.S. Government;

 

26.                                 Supplemental Lease Agreement
No. 24, dated as of February 11, 2008, by and between Hub Golden and
the U.S. Government;

 

27.                                 Supplemental Lease Agreement
No. 25, dated as of November 6, 2008, by and between Hub Golden and
the U.S. Government;

 

28.                                 Supplemental Lease Agreement
No. 26, dated as of December 12, 2008, by and between Hub Golden and
the U.S. Government and

 

29.                                 Supplemental Lease Agreement
No. 27, dated as of January 27, 2009, by and between Hub Golden and
the U.S. Government;

 

7201 West Mansfield Avenue, Lakewood, CO

7301 West Mansfield Avenue, Lakewood, CO

 

U.S.
Government (Bureau of Reclamation):

 

6

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-08P-13387), dated as of January 6,
1997, by and between The Mutual Life Insurance Company of New York and the U.S.
Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of January 20, 1997, by and between WHMNY
Real Estate Limited Partnership (“WHMNY”) and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, effective as of June 20, 1997, by and between WHMNY
and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of September 11, 1998, by and between
WHMNY and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4 (undated) by and between WHMNY and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of July 31, 2000, by and between WHMNY
and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 6, dated as of June 19, 2001, by and between WHMNY
and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 7, dated as of May 10, 2002, by and between WHMNY
and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 8, dated as of July 25, 2002, by and between WHMNY
and the U.S. Government;

 

10.                                 Supplemental Lease Agreement
No. 9, dated as of June 10, 2003, by and between Hub Acquisition and
the U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 10, dated as of September 10, 2003, by and between Hub
Acquisition and the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 11, dated as of August 10, 2004, by and between Hub Acquisition
and the U.S. Government; and

 

13.                                 Supplemental Lease Agreement
No. 12, dated as of May 26, 2005, by and between Hub Acquisition and
the U.S. Government.

 

7401 West Mansfield Avenue, Lakewood, CO

 

U.S.
Government (National Business Center):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-08P-13730), dated as of May 10,
2002, by and between WHMNY and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of September 10, 2002, by and between
WHMNY and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of June 11, 2003, by and between Hub Acquisition
and the U.S. Government; and

 

7

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of July 19, 2005, by and between Hub Acquisition
and the U.S. Government.

 

20 Massachusetts Avenue N.W., Washington, District of
Columbia

 

U.S. Government (Immigration and Naturalization Service):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01453), dated as of December 20,
2001, by and between Hub Funding and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of March 12, 2003, by and between Hub
Funding and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of October 30, 2003, by and between Hub
Funding and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of January 17, 2004, by and between Hub
Funding and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of December 13, 2004, by and between Hub
Funding and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 4 Revised, dated as of August 22, 2008, by and between
Hub Funding and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 5, dated as of October 21, 2005, by and between Hub
Funding and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 6, dated as of December 6, 2006, by and between Hub
Funding and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 7, dated as of February 8, 2008, by and between
Hub Funding and the U.S. Government;

 

10.                                 Supplemental
Lease Agreement No. 8, dated as of August 22, 2008, by and between
Hub Funding and the U.S. Government;

 

11.                                 Supplemental
Lease Agreement No. 9, dated as of August 22, 2008, by and between
Hub Funding and the U.S. Government;

 

12.                                 Supplemental
Lease Agreement No. 10, dated as of August 22, 2008, by and between Hub
Funding and the U.S. Government; and

 

13.                                 Supplemental
Lease Agreement No. 11, dated as of August 22, 2008, by and between Hub
Funding and the U.S. Government.

 

U.S. Government (Immigration and
Naturalization Service):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01447), dated as of December 20,
2001, by and between Hub Funding and the U.S. Government;

 

8

 

2.                                       Supplemental
Lease No. 1, dated as of March 12, 2003, by and between Hub Funding and
the U.S. Government;

 

3.                                       Supplemental
Lease No. 2, dated as of October 30, 2003, by and between Hub Funding
and the U.S. Government;

 

4.                                       Supplemental
Lease No. 3, dated as of December 3, 2004, by and between Hub Funding
and the U.S. Government;

 

5.                                       Supplemental
Lease No. 4, dated as of December 7, 2004, by and between Hub Funding
and the U.S. Government;

 

6.                                       Supplemental
Lease No. 4 Revised, dated as of August 22, 2008, by and between Hub Funding
and the U.S. Government;

 

7.                                       Supplemental
Lease No. 5, dated as of March 1, 2005, by and between Hub Funding
and the U.S. Government;

 

8.                                       Supplemental
Lease No. 6, dated as of October 21, 2005, by and between Hub Funding
and the U.S. Government; and

 

9.                                       Supplemental
Lease No. 8, dated as of March 26, 2008, by and between Hub Funding and
the U.S. Government;

 

10.                                 Supplemental
Lease No. 9, dated as of August 22, 2008, by and between Hub Funding and
the U.S. Government;

 

11.                                 Supplemental
Lease No. 10, dated as of August 22, 2008, by and between Hub Funding
and the U.S. Government;

 

12.                                 Supplemental
Lease No. 11, dated as of August 22, 2008, by and between Hub Funding
and the U.S. Government; and

 

13.                                 Supplemental
Lease No. 12, dated as of February 2, 2009, by and between Hub
Funding and the U.S. Government.

 

U.S. Government (Immigration and Naturalization Service):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01455), dated as of December 20,
2001, by and between Hub Funding and the U.S. Government;

 

2.                                       Supplemental
Lease No. 1, dated as of March 12, 2003, by and between Hub Funding and
the U.S. Government;

 

3.                                       Supplemental
Lease No. 2, dated as of November 5, 2003, by and between Hub Funding
and the U.S. Government;

 

4.                                       Supplemental
Lease No. 3, dated as of November 23, 2004, by and between Hub
Funding and the U.S. Government;

 

5.                                       Supplemental
Lease No. 4, dated as of December 13, 2004, by and between Hub Funding
and the U.S. Government;

 

9

 

6.                                       Supplemental
Lease No. 5, dated as of October 20, 2005, by and between Hub Funding
and the U.S. Government;

 

7.                                       Supplemental
Lease No. 6, dated as of December 6, 2006, by and between Hub Funding
and the U.S. Government;

 

8.                                       Supplemental
Lease No. 7, dated as of January 14, 2008, by and between Hub Funding
and the U.S. Government;

 

9.                                       Supplemental
Lease No. 8, dated as of August 22, 2008, by and between Hub Funding and
the U.S. Government;

 

10.                                 Supplemental
Lease No. 9, dated as of August 22, 2008, by and between Hub Funding and
the U.S. Government;

 

11.                                 Supplemental
Lease No. 10, dated as of August 22, 2008, by and between Hub Funding
and the U.S. Government; and

 

12.                                 Supplemental
Lease No. 11, dated as of December 12, 2008, by and between Hub Funding
and the U.S. Government.

 

U.S. Government (Immigration and Naturalization Service):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01454), dated as of December 20,
2001, by and between Hub Funding and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of March 12, 2003, by and between Hub
Funding and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of November 5, 2003, by and between Hub
Funding and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of November 10, 2004, by and between Hub
Funding and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of December 13, 2004, by and between Hub
Funding and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 4 Revised, dated as of August 22, 2008, by and between
Hub Funding and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 5, dated as of October 25, 2005, by and between Hub
Funding and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 6, dated as of October 21, 2005, by and between Hub
Funding and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 7, dated as of January 14, 2008, by and between Hub
Funding and the U.S. Government;

 

10.                                 Supplemental Lease Agreement
No. 8, dated as of August 22, 2008, by and between Hub Funding and
the U.S. Government;

 

10

 

11.                                 Supplemental Lease Agreement
No. 9, dated as of August 22, 2008, by and between Hub Funding and
the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 10, dated as of August 22, 2008, by and between Hub Funding and
the U.S. Government; and

 

13.                                 Supplemental Lease Agreement
No. 11, dated as of August 22, 2008, by and between Hub Funding and
the U.S. Government.

 

U.S.
Government (Department of Justice):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01445), dated as of November 21,
2001, by and between Hub Funding and the U.S. Government;

 

2.                                       Supplemental
Lease No. 1, dated as of November 15, 2002, by and between Hub
Funding and the U.S. Government;

 

3.                                       Supplemental
Lease No. 2, dated as of November 15, 2002, by and between Hub
Funding and the U.S. Government;

 

4.                                       Supplemental
Lease No. 3, dated as of November 19, 2003, by and between Hub
Funding and the U.S. Government;

 

5.                                       Supplemental
Lease No. 4, dated as of October 15, 2004, by and between Hub Funding
and the U.S. Government;

 

6.                                       Supplemental
Lease No. 5, dated as of November 12, 2004, by and between Hub
Funding and the U.S. Government;

 

7.                                       Supplemental
Lease No. 6, dated as of October 14, 2005, by and between Hub Funding
and the U.S. Government;

 

8.                                       Supplemental
Lease No. 8, dated as of February 14, 2006, by and between Hub
Funding and the U.S. Government;

 

9.                                       Supplemental
Lease No. 9, dated as of October 6, 2006, by and between Hub Funding and
the U.S. Government;

 

10.                                 Supplemental Lease No. 10,
dated as of February 21, 2007, by and between Hub Funding and the U.S.
Government;

 

11.                                 Supplemental Lease No. 11,
dated as of February 21, 2007, by and between Hub Funding and the U.S.
Government;

 

12.                                 Supplemental Lease No. 12,
dated as of February 21, 2007, by and between Hub Funding and the U.S.
Government;

 

13.                                 Supplemental Lease No. 13,
dated as of February 21, 2007, by and between Hub Funding and the U.S.
Government;

 

14.                                 Supplemental Lease No. 14,
dated as of August 23, 2007, by and between Hub Funding and the U.S.
Government;

 

15.                                 Supplemental Lease No. 15,
dated as of August 23, 2007, by and between Hub Funding and the U.S.
Government;

 

11

 

16.                                 Supplemental
Lease No. 16, dated as of August 12, 2008, by and between Hub Funding
and the U.S. Government;

 

17.                                 Supplemental Lease No. 17,
dated as of August 12, 2008, by and between Hub Funding and the U.S.
Government; and

 

18.                                 Supplemental Lease No. 18,
dated as of December 16, 2008, by and between Hub  Funding and the U.S.
Government.

 

U.S.
Government (Department of Justice):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01444), dated as of November 21,
2001, by and between Hub Funding and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of November 15, 2002, by and between Hub
Funding and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of November 15, 2002, by and between Hub
Funding and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of November 19, 2003, by and between Hub
Funding and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of October 22, 2004, by and between Hub
Funding and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of November 10, 2004, by and between Hub
Funding and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 6, dated as of October 13, 2005, by and between Hub
Funding and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 8, dated as of February 14, 2006, by and between Hub
Funding and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 9, dated as of October 19, 2006, by and between Hub
Funding and the U.S. Government;

 

10.                                 Supplemental Lease Agreement
No. 10, dated as of February 21, 2007, by and between Hub Funding and
the U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 11, dated as of February 21, 2007, by and between Hub Funding and
the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 12, dated as of February 21, 2007, by and between Hub Funding and
the U.S. Government;

 

13.                                 Supplemental Lease Agreement
No. 13, dated as of February 21, 2007, by and between Hub Funding and
the U.S. Government;

 

14.                                 Supplemental Lease Agreement
No. 14, dated as of August 23, 2007, by and between Hub Funding and
the U.S. Government;

 

12

 

15.                                 Supplemental Lease Agreement
No. 15, dated as of August 23, 2007, by and between Hub Funding and
the U.S. Government;

 

16.                                 Supplemental Lease Agreement
No. 16, dated as of December 12, 2007, by and between Hub Acquisition
and the U.S. Government;

 

17.                                 Supplemental Lease Agreement
No. 17, dated as of August 12, 2008, by and between Hub Acquisition
and the U.S. Government; and

 

18.                                 Supplemental Lease Agreement
No. 18, dated as of December 16, 2008, by and between Hub Acquisition
and the U.S. Government.

 

U.S.
Government (Department of Justice):

 

1.                                       Parking Lease
Agreement (DOJ-1001-002), dated as of August 6, 2002, by and between Hub
Funding and the U.S. Government;

 

2.                                       Supplemental
Lease No. 1, dated as of September 19, 2006, by and between Hub
Funding and the U.S. Government;

 

3.                                       Supplemental
Lease No. 2, dated as of October 15, 2007, by and between Hub Funding
and the U.S. Government; and

 

4.                                       Supplemental
Lease No. 3, dated as of November 5, 2008, by and between Hub Funding
and the U.S. Government.

 

1 Corporate Boulevard, Atlanta, GA

10 Corporate Boulevard, Atlanta, GA

11 Corporate Boulevard, Atlanta, GA

12 Corporate Boulevard, Atlanta, GA

 

U.S.
Government (Center for Disease Control):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No.GS-04B-31130), dated as of June 30,
1992, by and between Hallwood Real Estate Investors Fund XV (“Hallwood”)
and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of December 2, 1992, by and between Hallwood
and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of December 15, 1992, by and between Hallwood
and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of March 17, 1993, by and between Hallwood
and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of April 1, 1993, by and between Hallwood
and the U.S. Government;

 

13

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of June 8, 1993, by and between  Hallwood and the U.S.
Government;

 

7.                                       Supplemental
Lease Agreement No. 6, dated as of July 14, 1993, by and between Hallwood
and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 7, dated as of September 3, 1993, by and between Hallwood
and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 8, dated as of February 1, 1994, by and between Hallwood
and the U.S. Government;

 

10.                                 Supplemental Lease Agreement
No. 9, dated as of March 31, 1994, by and between Hallwood and the
U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 10, dated as of September 19, 2000, by and between Hallwood and
the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 11, dated as of March 8, 2001, by and between Hallwood and the
U.S. Government;

 

13.                                 Supplemental Lease Agreement
No. 12, dated as of December 5, 2002, by and between Hallwood and the
U.S. Government; and

 

14.                                 Supplemental Lease Agreement
No. 13, dated as of July 7, 2003, by and between Hallwood and the
U.S. Government.

 

8 Corporate Boulevard, Atlanta, GA

 

U.S.
Government (Center for Disease Control):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-04B-39113), dated as of May 27,
1999, by and between Hallwood and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of August 4, 1999, by and between  Hallwood and the U.S.
Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of September 22, 1999, by and between
Hallwood and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of July 26, 2000, by and between Hallwood
and the U.S. Government;

 

5.                                       Notice of
Assignment, dated as of August 31, 2000, by and among Hallwood, the U.S. Government
and United States Trust Company of New York; and

 

6.                                       Supplemental
Lease Agreement No. 4, dated as of October 20, 2000, by and between Hallwood
and the U.S. Government.

 

12 Executive Park Drive, Atlanta, GA

 

U.S.
Government (Center for Disease Control):

 

14

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-04B-42096), dated as of August 12,
2002, by and between Executive Park 12, LLC (“Executive Park”) and the U.S.
Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of June 3, 2003, by and between Executive
Park and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of June 10, 2003, by and between Executive
Park and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of
                        ,
by and between                           
and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of
                        ,
by and between                           
and the U.S. Government; and

 

6.                                       Confirmation of
Lease Term Letter, dated as of July 2, 2004, executed by General Services
Administration.

 

4201 Patterson Avenue, Baltimore, MD

 

State
of Maryland (Department of Human Resources and Department of
Health and Mental Hygiene):

 

1.                                       Standard State
of Maryland Lease Form, dated as of October 9, 2002 and countersigned December 23,
2002, by and between Hub and the State of Maryland; and

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of March 26, 2008, by and between Hub  and the State of Maryland.

 

20400 Century Boulevard, Germantown, MD

 

U.S. Government (Department of Energy):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01888), dated as of December 1,
2005, by and between Hub Funding and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of February 14, 2006, by and between Hub
Funding and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of May 15, 2006, by and between Hub Funding
and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of August 25, 2006, by and between
Hub Funding and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of December 12, 2006, by and between Hub
Funding and the U.S. Government;

 

15

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of March 13, 2007, by and between Hub
Funding and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 5A, dated as of September 5, 2007, by and between
Hub Funding and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 6, dated as of February 20, 2008, by and between Hub
Funding and the        U.S.
Government;

 

9.                                       Supplemental
Lease Agreement No. 7, dated as of September 4, 2008, by and between Hub
Funding and the  U.S. Government;

 

10.                                 Supplemental
Lease Agreement No. 8, dated as of January 15, 2009, by and between Hub
Funding and the U.S. Government;

 

11.                                 Supplemental
Lease Agreement No. 9, dated as of April 9, 2009, by and between Hub Funding
and the U.S. Government; and

 

12.                                 Supplemental Lease
Agreement No. 10, dated as of April 27, 2009, by and between Hub  Funding and the U.S.
Government.

 

1401 Rockville Pike, Rockville, MD

 

U.S Government (Food and Drug Administration):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01968), dated as of April 19,
2007, by and between Hub Woodmont Limited Liability Company (“Hub Woodmont”)
and the U.S. Government.

 

America’s Best Contacts and Eyeglasses

 

1.                                       Office Building
Lease, dated August 23, 1994, by and between Templeton Place Limited Partnership
and America’s Best Contacts and Eyeglasses, Limited Partnership (“America’s
Best”);

 

2.                                       Assignment and
Assumption of Lease, dated March 26, 1997, by and between America’s Best
and Optical Holding Corporation;

 

3.                                       Assignment and
Assumption of Lease, dated April 25, 1997, by and between Consolidated
Vision Group, Inc. f/k/a Optical Holding Corporation and America’s Best;  and

 

4.                                       First Amendment
to Office Building Lease, dated January 11, 2005, by and between
                                 ,Hub
Woodmont and America’s Best.

 

CPS Mid-Atlantic
Insurance Services, Inc.  (“CPS”)

 

1.                                       Office Building Lease, dated as of July 15,
2005, by and between Hub Woodmont and CPS.

 

16

 

The Henry M. Jackson
Foundation for the Advancement of Military Medicine, Inc. (“The Henry M.
Jackson Foundation”):

 

1.                                       Lease Agreement, dated May 14, 1991,
by and between Templeton Place Limited Partnership and The Henry M. Jackson
Foundation for the Advancement of Military Medicine, Inc.;

 

2.                                       First Amendment to Lease, dated July 19,
2001, by and between Hub Woodmont and The Henry M. Jackson Foundation;

 

3.                                       Second Amendment to Lease, dated July 16,
2002, by and between Hub Woodmont and The Henry M. Jackson Foundation;

 

4.                                       Third Amendment to Lease, dated February 13,
2003, by and between Hub Woodmont and The Henry M. Jackson Foundation;

 

5.                                       Fourth Amendment to Lease, dated January 30,
2004, by and between Hub Woodmont and The Henry M. Jackson Foundation;

 

6.                                       Fifth Amendment to Lease, dated August 17,
2004, by and between Hub Woodmont and The Henry M. Jackson Foundation;

 

7.                                       Sixth Amendment to Lease, dated May 6,
2005, by and between Hub Woodmont and The Henry M. Jackson Foundation;

 

8.                                       Seventh Amendment to Lease, dated November 3,
2005, by and between Hub Woodmont and The Henry M. Jackson Foundation; and

 

9.                                       Eighth Amendment to Lease, dated September 12,
2008, by and between Hub Woodmont and The Henry M. Jackson Foundation.

 

4241 and 4300 NE 34th Street, Kansas City, MO

 

U.S.
Government (U.S. Treasury):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-06P-49137, dated as of July 6,
1994, by and between Robert & Emily Modeer (“Modeer”) and the
U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of October 24, 1995, by and between Modeer
and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of January 3, 1996, by and between Modeer
and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of October 21, 1997, by and between Hub
Realty Kansas City, Inc. (“Hub KC”) and the U.S. Government;

 

17

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of March 19, 1998, by and between Hub
KC and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of August 3, 1998, by and between Hub
KC and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 6 (undated) by and between Hub Funding and the U.S.
Government;

 

8.                                       Supplemental
Lease Agreement No. 7, dated as of August 7, 2000, by and between Hub  Funding and the U.S.
Government;

 

9.                                       Supplemental
Lease Agreement No. 8, dated as of September 22, 2000, by and between
Hub Funding and the U.S. Government;

 

10.                                 Supplemental
Lease Agreement No. 9 (undated) by and between Hub Funding and the U.S.
Government;

 

11.                                 Supplemental
Lease Agreement No. 10, dated as of March 22, 2001, by and between
Hub Funding and the U.S. Government;

 

12.                                 Supplemental
Lease Agreement No. 11, dated as of June 8, 2001, by and between Hub Funding
and the U.S. Government;

 

13.                                 Supplemental
Lease Agreement No. 12, dated as of June 14, 2001, by and between Hub
KC and the U.S. Government;

 

14.                                 Supplemental
Lease Agreement No. 13, dated as of August 15, 2001, by and between Hub
KC and the U.S. Government;

 

15.                                 Supplemental
Lease Agreement No. 14, dated as of November 14, 2001, by and between
Hub KC and the U.S. Government;

 

16.                                 Supplemental
Lease Agreement No. 15, dated as of December 28, 2001, by and between  Hub KC and the U.S.
Government;

 

17.                                 Supplemental
Lease Agreement No. 16, dated as of January 5, 2002, by and between Hub
KC and the U.S. Government;

 

18.                                 Supplemental
Lease Agreement No. 17, dated as of February 26, 2002, by and between
Hub KC and the U.S. Government;

 

19.                                 Supplemental
Lease Agreement No. 18, dated as of May 21, 2002, by and between Hub
KC and the U.S. Government;

 

20.                                 Supplemental
Lease Agreement No. 19, dated as of June 4, 2002, by and between  Hub KC and the U.S.
Government;

 

21.                                 Supplemental
Lease Agreement No. 20, dated as of July 15, 2002, by and between Hub
KC and the U.S. Government;

 

22.                                 Supplemental
Lease Agreement No. 21, dated as of April 1, 2003, by and between Hub
KC and the U.S. Government;

 

23.                                 Supplemental
Lease Agreement No. 22, dated as of April 21, 2003, by and between  Hub KC and the U.S.
Government;

 

18

 

24.                                 Supplemental
Lease Agreement No. 23, dated as of June 2, 2003, by and between Hub  KC and the U.S. Government;

 

25.                                 Supplemental
Lease Agreement No. 24, dated as of June 24, 2003, by and between Hub
KC and the U.S. Government;

 

26.                                 Supplemental
Lease Agreement No. 25, dated as of September 1, 2004, by and between  Hub KC and the U.S.
Government;

 

27.                                 Supplemental
Lease Agreement No. 26, dated as of December 7, 2004, by and between Hub
KC and the U.S. Government;

 

28.                                 Supplemental
Lease Agreement No. 27, dated as of March 8, 2005, by and between  Hub KC and the U.S.
Government;

 

29.                                 Supplemental
Lease Agreement No. 28, dated as of August 4, 2005, by and between Hub
KC and the U.S. Government;

 

30.                                 Supplemental
Lease Agreement No. 30, dated as of August 4, 2008, by and between  Hub KC and the U.S.
Government;

 

31.                                 Supplemental
Lease Agreement No. 31, dated as of August 4, 2008, by and between Hub
KC and the U.S. Government;

 

32.                                 Supplemental
Lease Agreement No. 32, dated as of August 4, 2008, by and between Hub
KC and the U.S. Government;

 

33.                                 Supplemental
Lease Agreement No. 33, dated as of August 4, 2008, by and between Hub
KC and the U.S. Government;

 

34.                                 Supplemental
Lease Agreement No. 34, dated as of September 26, 2008, by and
between Hub KC and the U.S. Government; and

 

35.                                 Supplemental
Lease Agreement No. 35, dated as of November 24, 2008, by and between
Hub KC and the U.S. Government.

 

2645 and 2655 Long Lake Road, Roseville, MN

 

State
of Minnesota Department of Administration (“State of Minnesota”)
(Minnesota State Lottery):

 

1.                                       Office Building
Lease, commencing June 24, 2003, by and between Rosedale Properties Limited
Liability Company (“Rosedale”) and the State of Minnesota;

 

2.                                       First Amendment
to Office Building Lease, dated as of June 10, 2004, by and between Rosedale
and the State of Minnesota;

 

3.                                       Second
Amendment to Office Building Lease, dated as of August 13, 2004, by and between
Rosedale and the State of Minnesota;

 

4.                                       Third Amendment
to Office Building Lease, dated as of November 12, 2004, by and between
Rosedale and the State of Minnesota;

 

19

 

5.                                       Fourth
Amendment to Office Building Lease, dated as of June 6, 2006, by and
between Rosedale and the State of Minnesota; and

 

6.                                       Fifth Amendment
to Office Building Lease, dated as of August 13, 2007, by and between Rosedale
and the State of Minnesota.

 

130-138 Delaware Avenue, Buffalo, NY

 

U.S. Government (Executive Office of Immigration Review):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-02B-23447) dated as of December 28,
2005, by and between Hub Realty Buffalo, Inc. (“Hub Buffalo”) and
the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of August 9 2006, by and between Hub Buffalo
and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 1, dated as of  April 3,
2007, by and between Hub Buffalo and the U.S. Government; and

 

4.                                       Supplemental
Lease Agreement No. 2, dated as of December 12, 2007, by and between Hub
Buffalo and the U.S. Government.

 

U.S.
Government (Immigration and Naturalization Service)

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-02B-22753) dated October 28,
1993 by and between Federal Center Joint Venture (“Federal Center”) and the
U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of May 12, 1994, by and between
Federal Center and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of October 5, 1994, by and between Federal
Center and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of October 24, 1996, by and between Rosecliff
Realty Buffalo, Inc. and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of September 26, 1997, by and between
Hub Buffalo and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of November 25, 1997, by and between Hub
Buffalo Center and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 7, dated as of April 2, 2002, by and between Hub Buffalo
and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 8, dated as of August 26, 2002, by and between
Hub Buffalo and the U.S. Government;

 

20

 

9.                                       Supplemental
Lease Agreement No. 9, dated as of December 17, 2002, by and between Hub
Buffalo and the U.S. Government;

 

10.                                 Supplemental
Lease Agreement No. 10, dated as of March 25, 2003, by and between
Hub Buffalo and the U.S. Government;

 

11.                                 Supplemental
Lease Agreement No. 11, dated as of April 3, 2007, by and between Hub  Buffalo and the U.S.
Government;

 

12.                                 Supplemental
Lease Agreement No. 12, dated as of December 17, 2008, by and between
Hub Buffalo and the U.S. Government; and

 

13.                                 Renewal Notice
from the U.S. Government, dated as of October 29, 2008.

 

U.S.
Government (Department of Justice)

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-02B-22689), dated as of January 22,
1993, by and between Acquest Holdings, Inc. (“Acquest”) and the
U.S. Government;

 

2.                                       Assignment of
Lease Agreement, dated as of March 12, 1993, by and between Acquest and
Federal Center;

 

3.                                       Supplemental
Lease Agreement No. 1, dated as of August 6, 1993, by and between Federal
Center and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 2, dated as of February 5, 1994, by and between Federal
Center and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 3, dated as of February 8, 1994, by and between  Federal Center and the U.S.
Government;

 

6.                                       Supplemental
Lease Agreement No. 4, dated as of April 20,.1994, by and between Federal
Center and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 5, dated as of August 26, 1994, by and between  Federal Center and the U.S.
Government;

 

8.                                       Supplemental
Lease Agreement No. 6, effective as of November 18, 1994, by and  between Federal Center and
the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 7, dated as of August 27, 2001, by and between  Hub Buffalo and the U.S.
Government;

 

10.                                 Supplemental Lease Agreement
No. 8, dated as of July 12, 2002, by and between Hub Buffalo and the
U.S. Government;

 

11.                                 Supplemental Lease Agreement
No. 9, dated as of December 18, 2003, by and between Hub Buffalo and
the U.S. Government;

 

12.                                 Supplemental Lease Agreement
No. 10, dated as of April 28, 2004, by and between Hub Buffalo and
the U.S. Government;

 

21

 

13.                                 Supplemental Lease Agreement
No. 11, dated as of April 28, 2005, by and between Hub Buffalo and
the U.S. Government;

 

14.                                 Supplemental Lease Agreement
No. 12, dated as of February 1, 2006, by and between  Hub Buffalo and the U.S.
Government; and

 

15.                                 Supplemental Lease Agreement
No. 13, dated as of September 16, 2006, by and between Hub Buffalo
and the U.S. Government.

 

110 Centerview Drive, Columbia, SC

 

South
Carolina Department of Labor Licensing & Regulation:

 

1.                                       Lease
Agreement, dated as of April, 2004 (effective 7/1/04), by and between SBP Columbia,
LLC and South Carolina Department of Labor Licensing & Regulation.

 

701 Clay Street, Waco, TX

 

U.S.
Government (Department of Veterans Affairs):

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-07B-14339), dated as of March 5,
1996, by and between McCord Government Properties-Waco, Ltd. (“McCord”) and
the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. 1, dated as of October 15, 1996, by and between McCord
and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. 2, dated as of March 26, 1997, by and between McCord
and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. 3, dated as of October 15, 1997, by and between McCord
and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. 4, dated as of November 12, 1997, by and between McCord
and the U.S. Government;

 

6.                                       Supplemental
Lease Agreement No. 5, dated as of November 19, 1998, by and among McCord
Government Properties, Ltd., Hub Acquisition and the U.S. Government;

 

7.                                       Supplemental
Lease Agreement No. 6, dated as of September 21, 1998, by and between
Hub Acquisition and the U.S. Government;

 

8.                                       Supplemental
Lease Agreement No. 7, dated as of September 21, 1998, by and between
Hub Acquisition and the U.S. Government;

 

9.                                       Supplemental
Lease Agreement No. 8, effective as of December 16, 1997, by and between
Hub Acquisition and the U.S. Government; and

 

10.                                 Supplemental
Lease Agreement No. 9, dated as of November 5, 1999, by and between Hub
Acquisition and the U.S. Government.

 

22

 

5600 Columbia Pike, Falls Church, VA

 

U.S.
Government (Defense Information Service Agency)

 

1.                                       U.S. Government
Lease for Real Property (GSA Lease No. GS-11B-01748), dated as of July 22,
2004, by and between Hub Funding and the U.S. Government;

 

2.                                       Supplemental
Lease Agreement No. A0001, dated as of July 9, 2005, by and between Hub
Funding and the U.S. Government;

 

3.                                       Supplemental
Lease Agreement No. A0002, dated as of July 9, 2006, by and between Hub
Funding and the U.S. Government;

 

4.                                       Supplemental
Lease Agreement No. A0003, dated as of March 23, 2007, by and between
Hub Funding and the U.S. Government;

 

5.                                       Supplemental
Lease Agreement No. A0004, effective as of July 9, 2007, by and
between Hub Funding and the U.S. Government and

 

6.                                       Supplemental
Lease Agreement No. A0005, effective as of September 21, 2007, by and
between Hub Funding and the U.S. Government.

 

Young’s H Corporation:

 

1.                                       Office Building Lease (undated) by and
between Rosecliff Realty Funding, Inc. and T. Paul Park, as Tenant;

 

2.                                       Assignment of Office Building Lease and
Consent Thereto, dated as of October 1, 1997, by and among Hub Acquisition
and T. Paul Park, as Tenant and Mi Chong Ko, (“Ko”), as Assignee;

 

3.                                       Assignment of Office Building Lease and
Consent Thereto, dated as of February 3, 2000, by and between REIT
Management & Research, Inc. and Ko, as Assignor-Tenant and Lee,
as Assignee-Tenant;

 

4.                                       Consent to Assignment of Office Building
Lease (undated) by and between Hub Funding and Ko, as Tenant and Choon Ja Lee,
as Assignee;

 

5.                                       First Amendment to Office Building Lease,
dated as of June 23, 2004, by and between Hub Funding and Lee, as Tenant;
and

 

6.                                       Consent to Assignment of Office Building
Lease, dated as of April 18, 2007, by and among Hub Finding and Lee, as
Tenant and Young’s H Corporation, as Assignee.

 

Cox Communications
Northern Virginia
(“Cox Communications”):

 

1.                                       Telecommunications Lease, dated as of June 3,
2002, by and between Cox Communications Northern Virginia, as the Company and
Hub Funding.

 

Omnipoint Cap Operations,
LLC (“Omnipoint”):

 

1.                                       Telecommunications Lease, dated as of July 29,
1994, by and between 5600 Limited Liability Company (“5600 LLC”) and
American PCS, L.P. (“American PCS”);

 

23

 

2.                                                  Assignment of Telecommunications Lease,
dated as of January 29, 1997, by and between America PCS and American PCS
Communications, LLC and APC Realty and Equipment Company, LLC;

 

3.                                                  Consent to Assignment of
Telecommunications Lease, dated as of December 1999, by and among Hub
Funding and APC Realty and Equipment Company, LLC and Omnipoint; and

 

4.                                                  Automatic 5 Year Renewal of
Telecommunications Lease, commencing January 1, 2005, by and between Hub
and Omnipoint.

 

APC Realty and Equipment
Company, LLC (“APC
Realty”):

 

1.                                     Telecommunications Lease, dated as of November 26,
1996, by and between Rosecliff and American PCS;

 

2.                                     Assignment of Telecommunications Lease,
dated as of January 29, 1997, by and between American PCS and American PCS
Communications, LLC and APC Realty; and

 

3.                                     First Amendment to Lease, dated August 31,
2008, by and between Hub Funding and APC Realty.

 

Verizon Wireless:

 

1.                                     Office Building Lease, dated as of February 7,
1990, by and between Columbia Pike Limited Partnership and Bell Atlantic Mobile
Systems (“Bell Atlantic”);

 

2.                                     Amendment to the Office Lease Agreement,
dated as of January 31, 1995, by and between 5600 LLC and Bell Atlantic;

 

3.                                     Second Amendment to Lease, dated as of November 7,
2001, by and between Hub Funding and Washington, D.C. SMSA Limited partnership
d/b/a Verizon Wireless.

 

2420 Stevens Drive, Richland, Washington

 

U.S. Government (Department of Energy):

 

1.                                     U.S. Government
Lease for Real Property (GSA Lease No. GS-10B-05928), dated as of October 12,
1994, by and between George F. Garlick (“Garlick”)and the U.S. Government;

 

2.                                     Supplemental
Lease Agreement No. 1, effective as of January 12, 1995, by and
between GovProp L.P. (“GovProp”) and the U.S. Government;

 

3.                                     Supplemental
Lease Agreement No. 2, effective as of January 27, 1995, by and
between GovProp L.P. and the U.S. Government;

 

4.                                     Supplemental
Lease Agreement No. 3, effective as of February 15, 1995, by and
between GovProp L.P. and the U.S. Government;

 

24

 

5.                                     Supplemental
Lease Agreement No. 4, effective as of November 22, 1995, by and between
Rosecliff Realty Richland, Inc. (“Rosecliff Realty”) and the U.S.
Government;

 

6.                                     Supplemental
Lease Agreement No. 5, dated as of October 2, 2007, by and between
Hub Realty Richland Inc. (“Hub Richland”) and the U.S. Government;

 

7.                                     Supplemental
Lease Agreement No. 6, dated as of November 25, 2008, by and between Hub
Richland and the U.S. Government; and

 

8.                                     Supplemental
Lease Agreement No. 7, dated as of November 25, 2008, by and between Hub
Richland and the U.S. Government.

 

2430 Stevens Drive, Richland, Washington

 

U.S. Government (Department of Energy)

 

1.                                     U.S. Government
Lease for Real Property (GSA Lease No. GS-10B-05927), dated as of October 12,
1994, by and between Garlick and the U.S. Government;

 

2.                                     Supplemental
Lease Agreement No.1, effective as of January 12, 1995, by and between GovProp
and the U.S. Government;

 

3.                                     Supplemental
Lease Agreement No. 2, effective as of January 27, 1995, by and
between GovProp and the U.S Government;

 

4.                                     Supplemental
Lease Agreement No. 3, effective as of February 15, 1995, by and
between GovProp and the U.S Government;

 

5.                                     Supplemental
Lease Agreement No. 4, effective as of March 17, 1995, by and between
Rosecliff Realty and the U.S Government;

 

6.                                     Supplemental
Lease Agreement No. 5, effective as of August 4, 1995, by and between
GovProp and the U.S Government; and

 

7.                                     Supplemental
Lease Agreement No. 6, dated as of October 2, 2007, by and between
Hub Richland and the U.S Government.

 

2029 Stonewall Jackson Drive, Falling Waters, WV

 

U.S. Government (Bureau of Alcohol Tobacco and Firearms)

 

1.                                     U.S. Government
Lease for Real Property (GSA Lease No. GS-03B-30078), dated as of April 6,
1993, by and between Van Wyk Enterprises, Inc. (“Van Wyk”) and the
U.S. Government;

 

2.                                     Supplemental
Lease Agreement No. 1, dated as of January 31, 1994, by and between
Van Wyk and the U.S. Government;

 

3.                                     Supplemental
Lease Agreement No. 2, dated as of May 6, 1994, by and between Van Wyk
and the U.S. Government;

 

4.                                     Supplemental
Lease Agreement No. 3, effective as of March 14, 1994, by and between
Van Wyk and the U.S. Government;

 

25

 

5.                                     Supplemental
Lease Agreement No. 4, effective as of April 20, 1994, by and between
Van Wyk and the U.S. Government;

 

6.                                     Supplemental
Lease Agreement No. 5, dated as of July 5, 1995, by and between
Rosecliff and the U.S. Government;

 

7.                                     Supplemental
Lease Agreement No. 6, dated as of August 8, 1995, by and between Rosecliff
Realty IV, Inc. and the U.S. Government;

 

8.                                     Supplemental
Lease Agreement No. 7, dated as of September 12, 1995, by and between
Rosecliff and the U.S. Government;

 

9.                                     Supplemental
Lease Agreement No. 8, effective as of July 28, 1995, by and between Rosecliff
and the U.S. Government;

 

10.                               Supplemental
Lease Agreement No. 9, dated as of June 17, 1996, by and between Rosecliff
and the U.S. Government;

 

11.                               Supplemental
Lease Agreement No. 10, dated as of August 27, 1997, by and between Hub
Realty IV, Inc. (“Hub IV”)and the U.S. Government;

 

12.                               Supplemental
Lease Agreement No. 11, dated as of January 8, 1998, by and between Hub
IV and the U.S. Government;

 

13.                               Supplemental
Lease Agreement No. 12, dated as of January 11, 2000, by and between Hub
Acquisition and the U.S. Government;

 

14.                               Supplemental
Lease Agreement No. 13, dated as of February 20, 2008, by and between
Hub Acquisition and the U.S. Government;

 

15.                               Supplemental
Lease Agreement No. 14, dated as of February 20, 2008, by and between
Hub Acquisition and the U.S. Government;

 

16.                               Supplemental
Lease Agreement No. 15, dated as of May 6, 2008, by and between Hub Acquisition
and the U.S. Government;

 

17.                               Supplemental
Lease Agreement No. 16, dated as of July 7, 2008, by and between Hub Acquisition
and the U.S. Government;

 

18.                               Supplemental
Lease Agreement No. 17, dated as of January 8, 2009, by and between
Hub Acquisition and the U.S. Government.

 

5353 Yellowstone Road, Cheyenne, WY

 

U.S.
Government (Bureau of Land Management and others)

 

1.                                     U.S. Government
Lease for Real Property (GSA Lease No. GS-08P-13261), dated as of April 29,
1994, by and between Terra West LLC (“Terra West”) and the U.S. Government;

 

2.                                     Supplemental
Lease Agreement No. 1, dated as of October 30, 1995, by and between Terra
West and the U.S. Government;

 

3.                                     Supplemental
Lease Agreement No. 2, dated as of December 29, 1995, by and between Terra
West and the U.S. Government;

 

26

 

4.                                     Supplemental
Lease Agreement No. 3, dated as of March 21, 1996, by and between
Terra West and the U.S. Government;

 

5.                                     Supplemental
Lease Agreement No. 4, dated as of November 15, 1996, by and between Rosecliff
and the U.S. Government;

 

6.                                     Supplemental
Lease Agreement No. 5, dated as of January 1, 1997, by and between
Terra West and the U.S. Government;

 

7.                                     Supplemental
Lease Agreement No. 6, dated as of July 25, 1997, by and between Hub Funding
and the U.S. Government;

 

8.                                     Supplemental
Lease Agreement No. 7, dated as of November 12, 1997, by and between Hub
Funding and the U.S. Government;

 

9.                                     Supplemental
Lease Agreement No. 8, dated as of December 18, 1997, by and between Hub
Funding and the U.S. Government;

 

10.                               Supplemental
Lease Agreement No. 9, dated as of February 5, 1998, by and between
Hub Funding and the U.S. Government;

 

11.                               Supplemental
Lease Agreement No. 10, dated as of April 21, 1998, by and between
Hub Funding and the U.S. Government;

 

12.                               Supplemental
Lease Agreement No. 11, dated as of July 30, 1998, by and between Hub
Funding and the U.S. Government;

 

13.                               Supplemental
Lease Agreement No. 12, dated as of December 1, 1998, by and between Hub
Funding and the U.S. Government;

 

14.                               Supplemental
Lease Agreement No. 13 (undated) by and between Hub Funding and the U.S.
Government;

 

15.                               Supplemental
Lease Agreement No. 14, dated as of July 12, 1999, by and between Hub
Funding and the U.S. Government;

 

16.                               Supplemental
Lease Agreement No. 15, dated as of August 25, 1999, by and between Hub
Funding and the U.S. Government;

 

17.                               Supplemental
Lease Agreement No. 17, dated as of April 28, 2000, by and between
Hub Funding and the U.S. Government;

 

18.                               Supplemental
Lease Agreement No. 18, dated as of October 13, 2000, by and between Hub
Funding and the U.S. Government;

 

19.                               Supplemental
Lease Agreement No. 19, dated as of January 25, 2001, by and between Hub
Funding and the U.S. Government;

 

20.                               Supplemental
Lease Agreement No. 20, dated as of February 27, 2001, by and between
Hub Funding and the U.S. Government;

 

21.                               Supplemental
Lease Agreement No. 21, dated as of May 25, 2001, by and between Hub Funding
and the U.S. Government;

 

22.                               Supplemental
Lease Agreement No. 22, dated as of July 1, 2002, by and between Hub Funding
and the U.S. Government;

 

27

 

23.                               Supplemental
Lease Agreement No. 23, dated as of February 20, 2003, by and between
Hub Funding and the U.S. Government;

 

24.                               Supplemental
Lease Agreement No. 24, dated as of November 7, 2002, by and between Reit
Management and Research, LLC and the U.S. Government;

 

25.                               Supplemental
Lease Agreement No. 25, dated as of August 15, 2003, by and between Hub
Funding and the U.S. Government;

 

26.                               Supplemental
Lease Agreement No. 26, dated as of March 20, 2006, by and between
Hub Funding and the U.S Government;

 

27.                               Supplemental
Lease Agreement No. 27, dated as of November 30, 2005, by and between
Hub Funding and the U.S Government;

 

28.                               Supplemental
Lease Agreement No. 27, dated as of July 27, 2005, by and between Hub
Funding and the U.S Government;

 

29.                               Supplemental
Lease Agreement No. 28, dated as of September 27, 2005, by and
between Hub Funding and the U.S Government;

 

30.                               Supplemental
Lease Agreement No. 29, dated as of April 17, 2006, by and between
Hub Funding and the U.S Government;

 

31.                               Supplemental
Lease Agreement No. 30, dated as of February 8, 2006, by and between Hub
Funding and the U.S Government;

 

32.                               Supplemental
Lease Agreement No. 31, dated as of July 20, 2006, by and between Hub
Funding and the U.S Government;

 

33.                               Supplemental
Lease Agreement No. 32, dated as of June 12, 2006, by and between Hub
Funding and the U.S Government;

 

34.                               Supplemental
Lease Agreement No. 33, dated as of June 12, 2006, by and between Hub
Funding and the U.S Government;

 

35.                               Supplemental
Lease Agreement No. 34, dated as of June 12, 2006, by and between Hub
Funding and the U.S Government;

 

36.                               Supplemental
Lease Agreement No. 35, dated as of October 16, 2006, by and between Hub
Funding and the U.S Government;

 

37.                               Supplemental
Lease Agreement No. 36, dated as of March 12, 2007, by and between
Hub Funding and the U.S Government;

 

38.                               Supplemental
Lease Agreement No. 37, dated as of June 28, 2007, by and between Hub
Funding and the U.S Government;

 

39.                               Supplemental
Lease Agreement No. 38, dated as of June 29, 2007, by and between Hub
Funding and the U.S Government;

 

40.                               Supplemental
Lease Agreement No. 39, dated as of June 29, 2007, by and between Hub
Funding and the U.S Government; and

 

41.                               Supplemental
Lease Agreement No. 40, dated as of November 21, 2007, by and between
Hub Funding and the U.S Government.

 

28

 

For
certain Borrowing Base Leases with the U.S Government, the Supplemental Lease
Agreements are not numbered sequentially. 
Sometimes, when a Supplemental Lease Agreement is negotiated but not executed
by the parties, the next Supplemental Lease Agreement will be issued using the
next higher number.  Consequently, gaps
sometimes occur in the numbering sequences.

 

29

 

SCHEDULE
1.1(40)

 

PROPERTIES

 

	
  Street Address

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  County

  	
   

  
	
  201 East Indianola Avenue

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  	
   

  	
  Maricopa

  	
   

  
	
  5045 East Butler Avenue

  	
   

  	
  Fresno

  	
   

  	
  CA

  	
   

  	
  Fresno

  	
   

  
	
  9797 Aero Drive

  	
   

  	
  San Diego

  	
   

  	
  CA

  	
   

  	
  San Diego

  	
   

  
	
  9174 Sky Park Centre

  	
   

  	
  San Diego

  	
   

  	
  CA

  	
   

  	
  San Diego

  	
   

  
	
  4560 Viewridge Drive

  	
   

  	
  San Diego

  	
   

  	
  CA

  	
   

  	
  San Diego

  	
   

  
	
  16194 West 45th Street

  	
   

  	
  Golden

  	
   

  	
  CO

  	
   

  	
  Jefferson

  	
   

  
	
  7201 West Mansfield Avenue

  	
   

  	
  Lakewood

  	
   

  	
  CO

  	
   

  	
  Jefferson

  	
   

  
	
  7301 West Mansfield Avenue

  	
   

  	
  Lakewood

  	
   

  	
  CO

  	
   

  	
  Jefferson

  	
   

  
	
  7401 West Mansfield Avenue

  	
   

  	
  Lakewood

  	
   

  	
  CO

  	
   

  	
  Jefferson

  	
   

  
	
  20 Massachusetts Avenue NW

  	
   

  	
  Washington

  	
   

  	
  DC

  	
   

  	
  DC Surveyor

  	
   

  
	
  1 Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  DeKalb

  	
   

  
	
  8 Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  DeKalb

  	
   

  
	
  10 Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  DeKalb

  	
   

  
	
  11 Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  DeKalb

  	
   

  
	
  12 Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  DeKalb

  	
   

  
	
  12 Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  DeKalb

  	
   

  
	
  4201 Patterson Avenue

  	
   

  	
  Baltimore

  	
   

  	
  MD

  	
   

  	
  Baltimore City

  	
   

  
	
  20400 Century Boulevard

  	
   

  	
  Germantown

  	
   

  	
  MD

  	
   

  	
  Montgomery

  	
   

  
	
  1401 Rockville Pike

  	
   

  	
  Rockville

  	
   

  	
  MD

  	
   

  	
  Montgomery

  	
   

  
	
  2645 and 2655 Long Lake Road

  	
   

  	
  Roseville

  	
   

  	
  MN

  	
   

  	
  Ramsey

  	
   

  
	
  4241 and 4300 NE 34th Street

  	
   

  	
  Kansas City

  	
   

  	
  MO

  	
   

  	
  Clay

  	
   

  
	
  130-138 Delaware Avenue

  	
   

  	
  Buffalo

  	
   

  	
  NY

  	
   

  	
  Erie

  	
   

  
	
  110 Centerview Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  Lexington

  	
   

  
	
  701 Clay Street

  	
   

  	
  Waco

  	
   

  	
  TX

  	
   

  	
  McLellan

  	
   

  
	
  5600 Columbia Pike

  	
   

  	
  Falls Church

  	
   

  	
  VA

  	
   

  	
  Arlington

  	
   

  
	
  2420 Stevens Circle

  	
   

  	
  Richland

  	
   

  	
  WA

  	
   

  	
  Benton

  	
   

  
	
  2430 Stevens Circle

  	
   

  	
  Richland

  	
   

  	
  WA

  	
   

  	
  Benton

  	
   

  
	
  2029 Stonewall Jackson Drive

  (aka 882 TJ Jackson Drive)

  	
   

  	
  Falling Waters

  	
   

  	
  WV

  	
   

  	
  Berkeley

  	
   

  
	
  5353 Yellowstone Road

  	
   

  	
  Cheyenne

  	
   

  	
  WY

  	
   

  	
  Laramie

  	
   

  

 

 

SCHEDULE
1.1(42)

 

PROPERTY
OWNERS

 

HRP Nom, L.P.

Hub Acquisition Trust

Hub Properties GA LLC

Hub Properties Trust

Hub Realty Buffalo, Inc.

Hub Realty Funding, Inc.

Hub Realty Golden, Inc.

Hub Realty Kansas City, Inc.

Hub Realty Richland, Inc.

Hub Woodmont Limited Liability Company

Rosedale Properties Limited Liability Company

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]