Document:

Purchase and Sale Agreement, dated as of November 2, 2004

 Exhibit 10.7 
 EXECUTION VERSION 
 PURCHASE AND SALE AGREEMENT 
 BY AND BETWEEN 
 Taunton Industrial Associates
LLC 
 (“SELLER”) 
 AND

 RT Taunton, LLC 
 (“BUYER”) 
 For 
 300 Constitution Drive 
 Taunton, Massachusetts 

 TABLE OF CONTENTS 
  

					
	 	  	Page
		
	 ARTICLE 1 Purchase and Sale Agreement
	  	4
	 1.1
	  	Agreement to Purchase and Sell	  	4
		
	 ARTICLE 2 The Property
	  	5
	 2.1
	  	Description of the Property	  	5
		
	 ARTICLE 3 Purchase Price; Deposit; Adjustments
	  	6
	 3.1
	  	Purchase Price	  	6
	 3.2
	  	Prorations of Taxes	  	6
	 3.3
	  	Prorations of Contracts and Prepaid Expenses	  	6
	 3.4
	  	Utilities	  	6
	 3.5
	  	Prorations of Income and Expenses	  	6
	 3.6
	  	Adjustment Payments	  	6
	 3.7
	  	Calculation of Prorations	  	7
	 3.8
	  	Application of Payments	  	7
	 3.9
	  	Closing Costs	  	7
	 3.10
	  	Closing Statement	  	7
	 3.11
	  	Survival	  	8
		
	 ARTICLE 4 Representations, Warranties, Covenants and Agreements
	  	8
	 4.1
	  	Seller’s Representations and Warranties	  	8
	 4.2
	  	Seller’s Covenants	  	11
	 4.3
	  	Buyer’s Representations and Warranties	  	12
		
	 ARTICLE 5 Access, Inspection, Diligence
	  	14
	 5.1
	  	Inspections	  	14
	 5.2
	  	Due Diligence Materials	  	14
	 5.3
	  	Review of Materials	  	14
	 5.4
	  	Inspection Period	  	14
		
	 ARTICLE 6 Title and Survey
	  	14
	 6.1
	  	Title and Survey Review	  	14
	 6.2
	  	Required State of Title	  	15
	 6.3
	  	Personal Property	  	15
		
	 ARTICLE 7 Conditions to Seller’s and Buyer’s Performance
	  	15
	 7.1
	  	Conditions to Seller’s Obligations	  	16
	 7.2
	  	Conditions to Buyer’s Obligations	  	16
		
	 ARTICLE 8 Closing
	  	17
	 8.1
	  	Closing	  	17
	 8.2
	  	Seller’s Closing Deliveries	  	17
	 8.3
	  	Buyer’s Closing Deliveries	  	18
	 8.4
	  	Delivery of Deposit	  	20

  

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	 8.5
	  	Form	  	20
		
	 ARTICLE 9 Casualty and Condemnation
	  	20
	 9.1
	  	Damage or Destruction/Eminent Domain	  	20
	 9.2
	  	Major Casualty	  	20
	 9.3
	  	Material Condemnation	  	21
		
	 ARTICLE 10 Brokerage Commissions
	  	21
	 10.1
	  	Representations and Indemnity	  	21
		
	 ARTICLE 11 Default, Termination and Remedies
	  	21
	 11.1
	  	Seller Default	  	21
	 11.2
	  	Buyer Default	  	22
		
	 ARTICLE 12 Miscellaneous
	  	22
	 12.1
	  	Assignment	  	22
	 12.2
	  	Notices	  	23
	 12.3
	  	Interpretation	  	25
	 12.4
	  	Captions	  	25
	 12.5
	  	No Third-Party Beneficiaries	  	25
	 12.6
	  	Amendments	  	25
	 12.7
	  	Integration	  	25
	 12.8
	  	Choice of Law	  	25
	 12.9
	  	Counterparts	  	25
	 12.10
	  	Business Day	  	25
	 12.11
	  	Time of the Essence	  	25
	 12.12
	  	Use of Proceeds to Clear Title	  	25
	 12.13
	  	Submission Not an Offer or Option	  	26
	 12.14
	  	Index of Definitions	  	26
		
	 ARTICLE 13 IRS Form 1099-S Designation
	  	26
	 13.1
	  	Designee	  	26
		
	 ARTICLE 14 Confidentiality
	  	26
	 14.1
	  	Confidentiality	  	26

  

			
	 SCHEDULE A
	  	Description of the Property
		
	 SCHEDULE B
	  	 Description of Personal Property and Intangible Property

		
	 SCHEDULE 3.2
	  	 Form of Deposit Escrow Agreement

		
	 SCHEDULE 4. 1(b)
	  	 List of Legal Proceedings

		
	 SCHEDULE 4. 1(c)
	  	 List of Violations

		
	 SCHEDULE 4. 1(d)
	  	 Description of the Lease

		
	 SCHEDULE 4. 1(e)
	  	 List of Security Deposits

		
	 SCHEDULE 4. 1(g)
	  	 List of Leasing Costs

		
	 SCHEDULE 4. 1(i)
	  	 List of Violations

		
	 SCHEDULE 4.2(e)
	  	 Form of Audit Letter

		
	 SCHEDULE 4.2(f)
	  	 Form of Tenant Estoppel Certificate

  

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	 SCHEDULE 7.2(g)
	  	Form of Chadwick’s Letter
		
	 SCHEDULE 8.1
	  	 Form of Escrow Closing Instructions

		
	 SCHEDULE 8.2 (a)
	  	 Form of Deed

		
	 SCHEDULE 8.2(b)
	  	 Form of Assignment and Assumption Agreement (Re: Lease)

		
	 SCHEDULE 8.2(c)
	  	 Form of Bill of Sale and General Assignment

		
	 SCHEDULE 8.2(d)
	  	 Form of FIRPTA Affidavit

		
	 SCHEDULE 8.2(i)
	  	 Form of Tenant Notice Letter

		
	 SCHEDULE 8.2(l)
	  	 Form of Seller Bringdown Certificate

		
	 SCHEDULE 8.3(e)
	  	 Form of Buyer Bringdown Certificate

		
	 SCHEDULE 12.14
	  	 Definitions

		
	 SCHEDULE 13.1
	  	 Form of 1099 Designation Agreement

  

 3 

 PURCHASE AND SALE AGREEMENT 

This Purchase and Sale Agreement (this “Agreement”) is entered into as of the 2 day of November, 2004 by and between Taunton
Industrial Associates LLC, a Delaware limited liability company (the “Seller”), having an address of c/o CrossHarbor Capital Partners LLC (f/ka/Boston Capital Institutional Advisors LLC), One Boston Place, Suite 2300, Boston,
Massachusetts 02108, and RT Taunton, LLC, a Delaware limited liability company (the “Buyer”) having an address of c/o CBRE Operating Partnership, L.P., 865 South Figueroa Street, Suite 3500, Los Angeles, California 90017.

 RECITALS 
 Seller is
the beneficial owner of the Property (as hereinafter defined). The Property is an asset held by the Trust (as defined below). Seller desires to sell the Property and Buyer desires to buy the Property, all on and subject to the terms and conditions
hereinafter set forth. U.S. Bank National Association (the “Trustee”), as Trustee under that certain Trust and Servicing Agreement by and among Crescent Capital (Jersey) Ltd. as the Depositor, Massachusetts Mutual Life Insurance
Company, as the Class A Certificateholder, Calusa, N.V., as the Subordinate Regular Certificateholder, Boston Capital Ownership Corp., as the Class R Certificateholder, Boston Capital Institutional Advisors, as the Servicer, and State Street
Bank and Trust Company, as the Trustee, dated as of February 27, 1998 as amended by First Amendment to Trust and Servicing Agreement dated as of March 13, 2002 by and among Crescent Capital (Jersey) Ltd. as the Depositor, Massachusetts
Mutual Life Insurance Company, as the Class A Certificateholder, Calusa, N.V., as the Subordinate Regular Certificateholder, Boston Capital Ownership Corp., as the Class R Certificateholder, Boston Capital Institutional Advisors, as the
Servicer, and State Street Bank and Trust Company, as the Trustee (as so amended, the “Trust”), holds legal title to the Property on behalf of Seller. The Trustee is the successor to State Street Bank and Trust Company as trustee
under the Trust. Subject to the terms and conditions of this Agreement, Seller shall instruct and direct the Trustee to deliver the Deed (as hereinafter defined) on or before the Closing Date. 
 ARTICLE 1 
 Purchase and Sale Agreement 
 1.1 Agreement to Purchase and Sell. In consideration of the undertakings and mutual covenants of the parties set forth in this Agreement, and for
other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Seller hereby agrees to sell the Property to Buyer, and Buyer agrees to buy the Property from Seller, for the Purchase Price (as hereinafter
defined), payable as provided below and subject to adjustment as provided herein and otherwise on and subject to the terms and conditions contained herein. 
  

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 ARTICLE 2 
 The Property 
 2.1 Description of the Property. The “Property” which
is the subject of this Agreement consists collectively of the following: 
 (a) The land owned by Seller (individually or
through the Trustee) (the “Land”) located at 300 Constitution Drive, Taunton, Bristol County, Massachusetts more particularly described in Schedule A attached hereto (the “Property”), together with
(x) all rights, privileges and easements appurtenant to the Land owned by Seller, including, without limitation, all minerals, oil, gas, and other hydrocarbon substances on and under the Land, as well as all development rights, air
rights, water, water rights and water stock relating to the Land, any rights to any land lying in the bed of any existing dedicated street, road or alley adjoining the Land and to all strips and gores adjoining the Land, and any other easements,
rights-of-way, or appurtenances used in connection with the beneficial use and enjoyment of the Land (collectively referred to as the “Appurtenances”); and (y) all buildings, improvements and fixtures located on the Land
(collectively, the “Improvements”), (which Land, together with the Appurtenances and Improvements, is collectively referred to as the “Real Property”); 
 (b) All apparatus, equipment, supplies and other personal property of every nature and description attached or pertaining to or otherwise
used in connection with the Real Property, owned by Seller (individually or through the Trustee) and located within the Real Property (the “Personal Property”, including, without limitation, as described in Schedule B
attached hereto); 
 (c) All of the interest of Seller (individually or through the Trustee) in any intangible personal
property now or hereafter owned by Seller and used in the ownership, use, and operation of the Real Property, the Appurtenances, Improvements, and Personal Property, including, without limitation, the right to use any trade name or trademark used in
connection therewith and, to the extent that the same are approved by Buyer pursuant to the provisions of this Agreement, any permits and approvals, contracts, subcontracts, leases, subleases, agreements, or other rights relating to the ownership,
use and operation of the Real Property and/or Personal Property, all building warranties and guarantees, all of Seller’s rights under any construction contracts and agreements, and payment, performance and surety bonds (all of which are
collectively referred to as the “Intangible Property”, including, without limitation, as described in Schedule B attached hereto); 
 (d) All right, title and interest of Seller (individually or through the Trustee), as fee owner and landlord, in and to that certain lease demising the Real Property and more fully described in Schedule 4. 1(d)
(the “Lease”) and all security deposits and advance rentals made under the Lease; and 
 (e) All existing
surveys, blueprints, drawings, plans and specifications and other documentation in Seller’s possession or control with respect to the development, use and operation of the Property, including correspondence with Chadwick’s of Boston, Inc.,
the tenant under the Lease (the “Tenant”), vendors, suppliers, contractors and other third parties, and such existing books, records and documents used in connection with the development, construction, management, leasing, and
operation of the Property. 
  

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 ARTICLE 3 
 Purchase Price; Deposit; Adjustments 
 3.1 Purchase Price. The purchase price for the
Property shall be NINETEEN MILLION SEVEN HUNDRED AND FIFTY THOUSAND DOLLARS ($19,750,000) (the “Purchase Price”), subject to adjustment and as otherwise provided herein, and on the Closing Date shall be paid by Buyer by wire
transfer of immediately, available federal funds to Escrow Agent. 
 3.2 Deposit. Within one (1) business day of the execution
and delivery of this Agreement, Buyer shall deposit with LandAmerica National Commercial Services, having an address 888 West 6th Street, 4th Floor, Los Angeles, California 90017, Attention: Donald Hallman, Senior Vice President,
(the “Escrow Agent”), the sum of Two Million Dollars ($2,000,000) (the “Deposit”) to secure Buyer’s obligations under this Agreement. The Escrow Agent shall maintain the Deposit in an interest bearing money
market account with a financial institution reasonably acceptable to Seller and Buyer. The Deposit and all interest earned thereon (collectively, the “Escrowed Amount”) shall be maintained by the Escrow Agent in such account and
shall be disbursed pursuant to the terms and conditions of this Agreement and the Deposit Escrow Agreement attached hereto as Schedule 3.2 (the “Deposit Escrow Agreement”). 
 (b) Balance of Purchase Price. On the Closing Date (as hereinafter defined) the Purchase Price, subject to a credit for the
Escrowed Amount and subject to adjustment as specified herein, shall be paid by Buyer by wire transfer of immediately available federal funds to Escrow Agent (the “Cash Balance”). The Deposit shall be applied towards the Cash
Balance. 
 3.3 Prorations of Taxes. Real estate taxes and special assessments are the direct payment obligations of the Tenant
pursuant to the provisions of the Lease and accordingly, will not be prorated and adjusted between Buyer and Seller as of the Closing Date. 
 3.4 Prorations of Contracts and Prepaid Expenses. Service and other property related contracts are the direct payment obligations of the Tenant pursuant to the provisions of the Lease and accordingly, will not be prorated and
adjusted between Buyer and Seller as of the Closing Date. 
 3.5 Utilities. Electricity, gas, water, sewer or other utility usage at
the Property are the direct payment obligations of the Tenant pursuant to the provisions of the Lease and accordingly, it is not necessary to do final readings or prorate and adjust the same between Buyer and Seller as of the Closing Date.

 3.6 Prorations of Income and Expenses. Accrued rents for the then current and any future period shall be apportioned and full value
shall be adjusted and prorated as of the Closing Date. All lease commissions, improvement allowances and improvement commitments entered 

  

 6 

 
into before the date hereof and payable or to be performed before the Closing Date shall be payable by Seller. Buyer shall be responsible for lease
commissions, improvement allowances and improvement commitments entered into before the date hereof and payable or to be performed after the Closing Date pursuant to the provisions of the Lease. 
 3.7 Adjustment Payments. The net amount of all adjustments to be made on the Closing Date under this Article 3 shall be paid on the Closing Date
as an adjustment to the Cash Balance. 
 3.8 Calculation of Prorations. All apportionments and prorations made hereunder shall be made
based on the number of days of ownership of the Property in the period applicable to the apportionment, with Buyer entitled to income and responsible for expenses for the Closing Date. Prorations of annual payments shall be made based on the number
of days of ownership in the applicable annual period. 
 3.9 Application of Payments. All payments received by Seller prior to the
Closing during the month in which the Closing Date occurs shall be applied first to rents and other amounts payable in respect of the month in which the Closing occurs and then in the reverse order in which such payments were due. 
 3.10 Closing Costs. Buyer’ s Closing Costs. Buyer shall pay the following costs and expenses associated with the transactions
contemplated by this Agreement: (a) the cost of the Survey (including any Survey costs incurred by Seller in anticipation of the sale of the Property), (b) all recording and filing charges in connection with the instrument by which Seller
conveys the Property, (c) one-half of the fees charged by Escrow Agent, (d) all costs of Buyer’s due diligence costs, including fees due its consultants and attorneys, and (e) all lenders’ fees related to any financing to be
obtained by Buyer. 
 (b) Seller’s Closing Costs. Seller shall pay the following costs and expenses associated
with the transactions contemplated by this Agreement: (a) the commission due Seller’s Broker, (b) premiums and charges of the Title Company for the Title Commitment and the Owner’s Title Policy (including endorsements), not to
exceed the maximum amount of Fifteen Thousand Dollars ($15,000.00), (c) all fees due its attorneys, (d) all costs incurred in connection with causing the Title Company to remove any Title Objections to the extent Seller specifically agrees
in writing, at or prior to Closing, to cause removal of such matter, it being understood for purposes of this sentence that nothing in this Agreement or any prior understanding or agreement of the parties shall be construed to obligate Seller to so
remove or agree to remove any such matter, (e) all transfer taxes applicable to the transfer of the Property to Buyer, and (f) one-half of the fees charged by Escrow Agent. 
  

 7 

 3.11 Closing Statement. Seller shall prepare a draft closing statement (with sufficient supporting
information) or shall provide Buyer with sufficient information to prepare a draft closing statement on or before the Closing. 
 3.12
Survival. The provisions of Article 3 shall survive the Closing (and not be merged therein) or any earlier termination of this Agreement. 
 ARTICLE 4 
 Representations, Warranties, Covenants and Agreements 
 4.1 Seller’s Representations and Warranties. Seller hereby makes the representations and warranties to Buyer which are set forth below, as of
the date of this Agreement. Buyer acknowledges and agrees that each of such representations and warranties shall be deemed expressly qualified by any information of which Buyer has Actual Knowledge on or before the Closing Date. Buyer acknowledges
(i) that Buyer has entered into this Agreement with the intention of making and relying upon its own investigation of the physical, environmental, economic and legal condition of the Property, and (ii) that, other than as specifically set
forth below in this Section 4.1, Seller is not making and has not at any time made any representation or warranty of any kind or nature, either oral or written, directly or indirectly, expressed, implied, statutory or otherwise, with respect to
the Property, including, without limitation, representations or warranties as to habitability, merchantability, fitness for a particular purpose, title (other than Seller’s limited warranty of title set forth in the Deed), zoning, tax
consequences, latent or patent physical or environmental condition, health or safety matters, utilities, operating history or projections, valuation, projections, the applicability of any laws, rules or regulations or compliance therewith. Based
upon Buyer’s familiarity with the Property, Buyer’s due diligence relating to the Property and Buyer’s experience and knowledge as to the market in which the Property is situated and as to investment in and operation of real estate in
the nature of the Property and commercial real estate in general, Buyer shall purchase the Property on the Closing Date in an “AS IS, WHERE IS AND WITH ALL FAULTS” condition, with no right of setoff or reduction in the Purchase Price and
without any representation or warranty whatsoever, as aforesaid, except as set forth in this Section 4.1, and Buyer fully assumes the risk that adverse latent or patent physical, structural, environmental, economic or legal conditions may not
have been revealed by Buyer’s investigations. Seller and Buyer acknowledge that the Purchase Price to be paid to Seller for the Property has taken into account that the Property is being sold subject to the foregoing provisions of this
Section 4.1. As used in this Section 4.1 “Actual Knowledge” or words of similar import shall refer only to the actual knowledge of Jeffrey B. Torto (the “Buyer’s Designated Representative”), and shall
not be construed to refer to the knowledge of any other officers, agents or employees of Buyer or any affiliate of Buyer or to impose or have imposed upon the Buyer’s Designated Representative any duty to investigate the matters to which such
knowledge, or the absence thereof, pertains or make an inquiry of other persons. 
 (a) Authority. This Agreement has
been duly authorized, executed and delivered by Seller and all consents required under Seller’s organizational documents or by law have been obtained. All documents that are to be executed by Seller and delivered to Buyer on the Closing Date
have been, or on the Closing Date will be, duly executed, authorized and delivered by Seller, as applicable. This Agreement and all such documents are, and on the 

  

 8 

 
Closing Date will be, legal, valid and binding obligations of Seller, as applicable, enforceable in accordance with their terms and do not, and, at the time
of the Closing Date will not, violate any provisions of any agreement or judicial or administrative order to which Seller is a party or to which Seller or the Property (or any portion thereof) are subject. 
 (b) Litigation. Except as listed on Schedule 4.1(b), neither Seller nor the Trustee has received any written notice of the
commencement of any suit, action or proceeding (including administrative and arbitration proceedings), with respect to all or a portion of the Property or the Lease. 
 (c) Condemnation Proceedings. Except as listed on Schedule 4.1(c). neither Seller nor the Trustee has received any written
notice of the commencement of any condemnation actions against or relating to the Property or any portion thereof. 
 (d)
Leases and Tenancies. To the best of Seller’s knowledge, there are no leases or occupancy agreements affecting the Property except the Lease. Except for the purchase option held by the Tenant pursuant to the provisions of the Lease,
neither Seller nor the Trustee has granted any purchase option, right of first refusal or preferential purchase rights with respect to the Property or any part thereof. With respect to the Lease: 
  

	 	(i)	The Lease is in full force and effect and has not been amended, modified or altered, in writing or otherwise, except as set forth in Schedule 4.1(d). Neither the Trustee nor
Seller has given, nor has the Trustee or Seller received, any written notice of a default under the Lease that remains uncured. Tenant is not in default under or in arrears in the payment of any sums or, to the knowledge of Seller, in the
performance of any obligations required of it under the Lease; 

  

	 	(ii)	All obligations of the landlord under the Lease (“Landlord”) that have accrued as of the date hereof have been performed including, but not limited to, all required
tenant improvements, cash or other inducements, rent abatements, installations and construction (for which payment in full has been made); 

  

	 	(iii)	Seller has not received written notice from Tenant (a) requesting a reduction in the rent payable under the Lease, (b) advising Landlord that Tenant intends to assign its
interest under the Lease, except for that certain notice letter dated December 29, 2000 from Brylane, L.P. (the predecessor-in-interest to Tenant) advising Landlord the Lease had been assigned to Chadwick’s of Boston, Inc., the general and
limited partner of Brylane, L.P., (c) requesting any modification, amendment or termination of the Lease, or (d) indicating that Tenant has commenced a voluntary case or has had entered against it an order for relief under the United
States Bankruptcy Code (Title 11 of the United States Code); and 

  

 9 

	 	(iv)	A true, accurate and complete copy of the Lease has previously been delivered to Buyer. 

 (e) Security Deposits. To the best of Seller’s knowledge, all security deposits under the Lease or any tenancy, are listed in
Schedule 4.1(e) and shall be assigned or credited to Buyer, as Buyer elects, at the Closing. The amount so credited to Buyer shall be considered an adjustment due to Buyer under Article 3 above. 
 (f) Foreign Person. Neither Seller nor the Trust is a foreign corporation, foreign partnership or foreign estate (as such terms are
defined in Section 1445 of the Internal Revenue Code). Seller shall provide Buyer with an affidavit to this effect at Closing. 
 (g) Allowances and Commissions. All allowances, commissions and other such costs, expenses, and fees payable in connection with the Lease (collectively the “Leasing Costs”) have been paid in full or are no longer
required to be paid by Seller or the Trustee under the terms of the Tenant’s lease, except as listed on Schedule 4.1(g). 
 (h) Service Contracts. Neither Seller nor the Trustee has entered into any bonds, guarantees, equipment leases or service, maintenance, management, leasing brokerage, utility or other similar contracts or agreements, oral or written,
affecting the Property that will become obligations of Buyer upon the Closing. 
 (i) Violations. Except as listed on
Schedule 4.1(i), neither Seller nor the Trustee has received any written notice from any governmental authority of any violation of any zoning law, or other laws, rules, ordinances, codes or regulations applicable to the Property. Except as
listed on Schedule 4.1(i), neither Seller nor the Trustee has received any written notice from the Taunton Development Corporation (“TDC”) of any violation under the covenants and restrictions encumbering the Taunton
Industrial Park with respect to the Property or any portion thereof. 
 (j) Status of Seller. Seller is a limited
liability company duly organized, validly existing and in good standing under the laws of the State of Delaware. Seller has the power and authority to direct the Trustee to execute and deliver the documents required of the Trustee under
Section 8.2. 
 (k) Environmental. Neither Seller nor the Trustee has received any written notice issued pursuant
to environmental laws, rules, regulations, codes and guidelines requesting any corrective or remedial action or requiring any payment by the owner of the Property in connection with the construction, development, use and operation of the Property or
any portion thereof. 
 (l) Documents. To Seller’s knowledge, all documents furnished to Buyer by Seller pursuant
to this Agreement are true and complete in all material respects. 
 As used in this Agreement, the phrase “to Seller’s
knowledge”, “to the best of Seller’s actual knowledge”, “to the best of Seller’s knowledge” or any similar phrase shall mean the 

  

 10 

 
actual, not constructive or imputed knowledge, of David C. Jones, Seller’s asset manager, and Karl Weller, Seller’s Managing Director, being the
individual representatives of Seller in the best position to have knowledge regarding all of such specific Property level matters, without any obligation on their part to make any independent investigation of the matters being represented and
warranted or to make an inquiry of any other persons. 
 The representations and warranties of Seller contained in this Section 4.1
(each a “Seller’s Representation” and collectively, the “Seller’s Representations”) shall survive the Closing and not be merged therein for a period of one hundred and eighty (180) days
(the “Representation Termination Date”) and Seller shall only be liable to Buyer hereunder for a breach of a Seller’s Representation or in any of the documents executed by Seller at the Closing with respect to which a
claim is made by Buyer against Seller on or before the one hundred and eightieth (180th) day after the date of
the Closing. Anything in this Agreement to the contrary notwithstanding, the maximum aggregate liability of Seller for breaches of Seller’s Representations shall be Two Hundred Thousand Dollars ($200,000.00). Notwithstanding the foregoing,
however, if the Closing occurs, Buyer hereby expressly waives, relinquishes and releases any right or remedy available to it at law, in equity, under this Agreement or otherwise to make a claim against Seller for damages that Buyer may incur as the
result of any of Seller’s Representations being untrue, inaccurate or incorrect if (a) Buyer knew or is deemed to know that such representation or warranty was untrue, inaccurate or incorrect at the time of the Closing, or
(b) Buyer’s damages as a result of such representations or warranties being untrue, inaccurate or incorrect are reasonably estimated to aggregate less than $50,000. 
 4.2 Seller’s Covenants. Seller hereby covenants and agrees with Buyer that: 
 (a) Maintenance. At all times from the execution of this Agreement to the Closing Date, it shall maintain the Property or use
commercially reasonable efforts to cause the Property to be maintained in substantially the same condition as the same is in as of the date of this Agreement and in accordance with the provisions of the Lease, subject only to reasonable use and wear
and the terms of Article 9 hereof. 
 (b) Insurance. At all times from the execution of this Agreement to the Closing
Date, it shall maintain or cause the Tenant to maintain such casualty insurance on the Improvements as is presently insured and all other insurance required to be obtained by the Tenant pursuant to the provisions of the Lease. 
 (c) Leasing Activity. From and after the date hereof through the Closing Date, Seller may not enter into new leases affecting the
Property or any portion thereof or modify, amend, cancel, terminate, extend or change the terms of the Lease or any Permitted Exception, without the prior written consent of Buyer, provided, however, that Buyer’s consent shall not be
unreasonably withheld, conditioned or delayed with respect to any modification of the Lease providing for Tenant’s restoration of the life-safety/fire protection systems at the Property to code upon the expiration or termination of the Lease.
In addition, Seller shall perform and comply with its obligations under the Lease through the Closing Date. 
  

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 (d) New Contracts. From and after the date hereof through the Closing Date, Seller
shall not enter into any new contract, agreement or easement or place any encumbrance on the Property, if such contract or encumbrance would continue in effect after the Closing Date, without Buyer’s prior written consent; provided, however
that Buyer shall not unreasonably withhold, delay or condition its consent to any such contract or agreement proposed by Seller. 
 (e) Seller’s Property Records. Seller shall make all material records, invoices, bills and other information and materials in Seller’s possession or control relating to the development, leasing, management, maintenance and
operation of the Property available for Buyer to inspect and copy. Upon Buyer’s request, for a period of six (6) months after the Closing Date, Seller shall make its books and records for the Property available to Buyer for inspection,
copying and audit by Buyer’s designated accountants, and at Buyer’s expense. In addition, at such time as Seller shall have received information setting forth the revenues and expenses of the Property for the nine (9) month period
ended September 30, 2004, Seller shall execute and deliver to Buyer an audit letter in the form attached hereto as Schedule 4.2(e) (the “Audit Letter”) (such right of inspection and audit and receipt of the Audit Letter
shall survive the Closing). 
 (f) Tenant Estoppel. Seller shall submit to Tenant for execution a tenant estoppel
certificate (“Tenant Estoppel Certificate”) using the form attached hereto as Schedule 4.2(f) promptly after execution of this Agreement. If Tenant objects to the form of the Tenant Estoppel Certificate submitted by Seller,
Seller shall give notice thereof to Buyer (specifying the objections in reasonable detail) and may make such modifications thereto as Tenant may reasonably request consistent with the provisions of the Lease; and provided further that Seller shall
not be obligated to deliver a Tenant Estoppel Certificate that contains language that Tenant is not required to provide under the Lease. 
 (g) Warranties. Pursuant to the Bill of Sale and General Assignment, the form of which is attached hereto as Schedule 8.2(b), the Seller or the Trustee, at the director of the Seller, shall assign all
warranties relating to the Property, which are assignable without third party consents, to Buyer at Closing and, in the event third party consents are required and Buyer so requests of Seller in a writing which identifies the specific consents Buyer
requires, Seller shall use commercially reasonable efforts to obtain such consents prior to the Closing Date, provided that Seller shall not be obligated to incur any costs in obtaining such consents. 
 (h) Master Lease. At Closing, Seller shall cause the termination of record by written instrument (the “Termination of
Master Lease”) of that certain Master Lease between STB Corp., Trustee of Taunton Standish Realty Trust, as Landlord and Taunton Industrial Associates LLC, as Tenant, dated as of May 21, 1998, as affected by Assignment and Assumption
of Master Lease dated May 22, 1998 between STB Corp. as assignor and the Trustee as assignee. 
 4.3 Buyer’s Representations and
Warranties. Buyer is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware. Buyer hereby represents and warrants to Seller as of the date of this Agreement and as of the Closing

  

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Date that this Agreement has been duly authorized, executed and delivered by Buyer and all consents required under Buyer’s organizational documents or
by law have been obtained. All documents that are to be executed by Buyer and delivered to Seller on the Closing Date have been, or on the Closing Date will be, duly executed, authorized and delivered by Buyer. This Agreement and all such documents
are, and on the Closing Date will be, legal, valid and binding obligations of Buyer, enforceable in accordance with their terms and do not, and, at the time of the Closing Date will not, violate any provisions of any agreement or judicial or
administrative order to which Buyer is a party or to which Buyer or the Property (or any portion thereof) is subject. The provisions of this Section 4.3 shall survive the Closing to the Representation Termination Date. 
  

 13 

 ARTICLE 5 
 Access, Inspection, Diligence 
 5.1 Inspections. Seller agrees that Buyer and its
authorized agents or representatives shall be entitled to enter upon the Real Property and the Improvements during normal business hours (subject to the rights of Tenant under the Lease) upon advance written notice to Seller to make such
investigations, studies and tests including, without limitation, surveys, engineering studies, and non-intrusive environmental studies which Buyer deems necessary or advisable. Buyer shall not undertake any additional investigations, studies and
tests on the Property without Seller’s prior written consent. Without limiting the generality of the foregoing, Seller’s written approval shall be required prior to any testing or sampling of surface or subsurface soils, surface water,
groundwater or any materials in or about the Improvements. Buyer shall repair any damage to the Property caused by any such tests or investigations, and shall indemnify Seller from any and all liabilities, claims, costs and expenses resulting
therefrom, but not to the extent arising directly from Seller’s negligence or willful misconduct or any pre-existing condition on the Property unless such pre-existing condition was exacerbated by Buyer or its agents. The foregoing
indemnification shall survive the Closing or the termination of this Agreement. 
 5.2 Due Diligence Materials. To the extent not
previously delivered, Seller shall, within three (3) business days of the execution of this Agreement, deliver copies of all material, books, records, plans, building specifications, contracts, agreements or other instruments or documents
contained in Seller’s files relating to the construction, operation, leasing, management and maintenance of the Property (the “Due Diligence Materials”) to the Buyer. 
 5.3 Review of Materials. Buyer shall have the right to commence and actively pursue such due diligence as it may deem prudent or advisable.

 5.4 Inspection Period. Buyer and Seller each acknowledge and agree that while Buyer shall have the continuing right to perform due
diligence on the Property subject to the terms of this Agreement, Buyer shall have no right whatsoever to terminate this Agreement on account of any such due diligence conducted after the date of this Agreement, except as provided in
Section 6.1. 
 ARTICLE 6  
 Title and Survey 
 6.1 Title and Survey Review. Prior to the date hereof, Buyer has
obtained the Commitment, copies of all of the Title Documents, and the Survey and has furnished Seller copies of the same. Buyer hereby confirms its receipt, and hereby confirms its approval, of the Commitment and the Survey, subject to the matters
contained in the Title Objections (hereinafter defined). Buyer has caused Lawyers Title Insurance Corporation (in such capacity, the “Title Company”) to prepare a title insurance commitment, including such affirmative insurance and
endorsements as Buyer may reasonably desire (the “Commitment”). Buyer has obtained an ALTA/ACSM as built survey of the Real Property (the “Survey”), certified to Buyer, the Title Company, and any lender of Buyer.
Such Commitment and Survey are referred to as “Title Evidence”. Buyer has delivered to Seller written objections (“Title Objections”) as to the form and/or contents of the Title Evidence and, except for the Title
Objections, Buyer has waived title objections 

  

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with respect to all matters of record affecting title to the Real Property other than (a) those matters arising after the effective date of the
Commitment and (b) Monetary Liens (as hereinafter defined). Except as otherwise set forth herein, any title or survey material not objected to by Buyer in the Title Objections shall be a “Permitted Exception” hereunder.
Notwithstanding the foregoing, with respect to liens securing payment of an ascertainable amount (“Monetary Liens”), Seller shall remove or cure such Monetary Liens by payment of funds from Closing. Seller shall remove any
encumbrances or exceptions to title which are created by, through or under Seller after the date hereof and which are not consented to by Buyer under the terms hereof; provided, however that Seller shall not be obligated to incur costs in excess of
$25,000 in the aggregate to remove involuntary monetary liens and any other title clearing efforts that Seller is obligated to undertake. If the Title Objections are not cured or waived by Buyer prior to Closing, Buyer will have the option as its
sole and exclusive remedies to (i) terminate this Agreement and receive a refund of the Escrowed Amount in accordance with the Deposit Escrow Agreement or (ii) proceed to close without any reduction in the Purchase Price. If Buyer elects
the latter, any uncured Title Objections shall be deemed a Permitted Exception. 
 6.2 Required State of Title. At the Closing, Seller
shall cause the Trustee to convey by Massachusetts form of quitclaim deed (the “Deed”) to Buyer good and clear record and marketable fee simple title to all of the Land and the Improvements free and clear of any and all tenancies
and other occupancies, liens, encumbrances, conditions, easements, assessments, restrictions and other conditions, except for the following: 
 (a) The lien, if any, for real estate taxes not yet due and payable; 
 (b) The Lease;

 (c) The Permitted Exceptions; and 
 (d) Subject to Sections 4.1(i) and k), provisions of existing building, environmental and zoning laws. 
 6.3 Personal Property. At the Closing, Seller shall or shall cause the Trustee to convey to Buyer the Personal Property by the Bill of Sale and
General Assignment attached hereto as Schedule 8.2(b). 
  

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 ARTICLE 7 
 Conditions to Seller’s and Buyer’s Performance 
 7.1 Conditions to Seller’s
Obligations. The obligations of Seller to consummate the transaction contemplated by this Agreement are, in addition to the other terms and conditions of this Agreement, subject to the following (any one or more of which may be waived in whole
or in part by Seller at its discretion): 
 (a) Buyer having performed in all material respects all covenants and obligations
required by this Agreement to be performed by Buyer on or prior to the Closing Date; and 
 (b) Payment of the Purchase Price,
as adjusted and prorated pursuant to the terms of this Agreement. 
 7.2 Conditions to Buyer’s Obligations. The obligations of
Buyer to consummate the transaction contemplated by this Agreement are, in addition to the other terms and conditions of this Agreement, subject to the following (any one or more of which may be waived in whole or in part by Buyer at its
discretion): 
 (a) The representations and warranties made by Seller in this Agreement being true and correct in all material
respects on and as of the Closing Date with the same force and effect as though such representations and warranties had been made as of the Closing Date, and Seller shall deliver a certificate to such effect at Closing; 
 (b) Seller having performed in all material respects all covenants and obligations in all material respects required by this Agreement to
be performed by Seller on or prior to the Closing Date; 
 (c) Receipt by Buyer prior to or on the Closing of the Tenant
Estoppel Certificate dated within thirty (30) days of the Closing Date from the Tenant; 
 (d) The Title Company is
prepared to issue the Title Policy (as hereinafter defined); 
 (e) Seller shall have obtained and delivered at or prior to
the Closing a certificate from TDC dated within thirty (30) days of the Closing indicating that (i) no fees or assessments levied pursuant to the covenants, conditions and restrictions encumbering such industrial park
(“CCRs”) are unpaid, (ii) the Property is subject to no special assessments, charges or liens, and (iii) the Property and the Easement Property, as improved and the present use and operation thereof are in compliance with
the requirements of the CCRs (the “TDC Estoppel”); and 
 (f) Seller shall have obtained and delivered at or
prior to the Closing a certificate from TDC dated within thirty (30) days of the Closing indicating that any right of first refusal or first offer under the covenants, conditions and restrictions encumbering the Myles Standish Industrial Park
with respect to the sale of the Property has been waived (the “TDC Waiver”), and 
  

 16 

 (g) Seller shall have obtained and delivered at or prior to the Closing a letter
agreement from Tenant in the form attached hereto as Schedule 7.2(g) (the “Chadwick’s Letter”). 
 If any of the conditions set
forth in Section 7.2(c), (d) and (e) are not satisfied or waived by Buyer by the Closing Date, Buyer may elect to terminate this Agreement, in which event the Escrowed Amount shall be returned to Buyer and this
Agreement shall be deemed null and void. If any of the conditions set forth in Section 7.2(a) and (b) are not satisfied or waived by Buyer by the Closing Date, then Buyer shall have the rights and remedies under
Section 11.1. 
 ARTICLE 8 
 Closing 
 8.1 Closing. Except as otherwise expressly provided in this Agreement, the
consummation of the transaction contemplated in this Agreement (the “Closing”) shall occur at 10:00 a.m. eastern time on November 3, 2004 (the “Closing Date”) through an escrow closing with Escrow Agent or at
the offices of Goodwin Procter LLP or such other mutually agreed upon location. It is agreed that time is of the essence in this Agreement. 
 8.2 Seller’s Closing Deliveries. On the Closing Date Seller shall deliver or cause to be delivered at its expense each of the following items to Buyer: 
 (a) A duly executed and acknowledged Deed in the form attached hereto as Schedule 8.2(a) conveying the Real Property and the
Improvements to Buyer with title as provided in Section 6.3; 
 (b) A duly executed and acknowledged assignment
and assumption agreement regarding the Lease in the form attached hereto as Schedule 8.2(b) (the “Assignment of Leases”) together with original counterparts of the Lease to the extent in Seller’s possession; 

(c) A duly executed Bill of Sale and General Assignment in the form attached hereto as Schedule 8.2(c) conveying the Personal
Property, Intangible Property and the assigned permits and licenses (the “General Assignment”), together with original counterparts of the permits and licenses covering the Property; provided that they are assignable without consent
of any third party. If any such consent is required, Seller shall use commercially reasonable efforts to obtain such consent prior to the Closing Date and, if obtained, the applicable underlying instrument shall be included in such assignment;
provided, however, Seller shall not be obligated to incur any cost to procure such consents. 
 (d) A certificate or
certificates of non-foreign status (“FIRPTA Affidavit”) in the forms attached hereto as Schedule 8.2(d)-1 and Schedule 8.2(d)-2; 
 (e) Customary affidavits allowing the Title Company to delete from Buyer’s title policy any exceptions for parties in possession
(other than the Tenant under the 

  

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Lease) and mechanic’s or materialmen’s liens arising out of Seller’s failure to pay for work commissioned by Seller and done on or about the
Property prior to the Closing Date; 
 (f) Evidence reasonably satisfactory to the Title Company of Seller’s authority
under the Trust to cause the Trustee to convey the Property pursuant to this Agreement in form and substance satisfactory to Buyer and the Title Company and evidence relating to title to the Real Property and the status of the Trust and Seller
satisfactory for the Title Company to satisfy any requirements to the issuance of an Owner’s Policy of Title Insurance in the form provided for by the Commitment (the “Title Policy”); 
 (g) A counterpart original of the closing statement setting forth the Purchase Price, the closing adjustments and the application of the
Purchase Price as adjusted; 
 (h) An original, fully executed Tenant Estoppel Certificate, as provided in
Section 7.2(d); 
 (i) An original executed notice to the Tenant (“Tenant Notice Letter”) regarding the
transfer of the Property in the form attached hereto as Schedule 8.2(i); 
 (j) All material books, records, plans,
specifications, contracts, agreements and other instruments or documents to the extent requested by Buyer and in the possession of Seller related to the construction, development, operation, management, leasing and maintenance of the Property;

 (k) A good standing certificate for Seller issued by the Secretary of State of The Commonwealth of Massachusetts;

 (1) A “bring down” certificate in the form attached hereto as Schedule 8.2(1) with respect to the
representations and warranties of Seller set forth in Section 4.2; 
 (m) Keys to all locks on the Property in
Seller’s possession or control, if any; 
 (n) The TDC Estoppel; and 
 (o) The TDC Waiver; 
 (p) The Chadwick’s Letter; and 
 (q) The Termination of Master Lease. 
 8.3 Buyer’s Closing Deliveries. On the Closing Date Buyer shall deliver or cause to be delivered at its expense each of the following to
Seller: 
 (a) A counterpart original of the closing statement setting forth the closing adjustments; 
  

 18 

 (b) Such other instruments as Seller may reasonably request to effectuate the transaction
contemplated by this Agreement without additional liability or expense to Buyer; and 
 (c) Duly executed counterparts of the
Assignment of Leases; 
 (d) A good standing certificate for Buyer issued by the Secretary of State of Delaware; and

 (e) A “bring down” certificate in the form attached hereto as Schedule 8.3(e) with respect to the
representations and warranties of Buyer set forth in Section 4.3. 
  

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 8.4 Delivery of Deposit. On the Closing Date the Escrow Agent shall deliver or cause to be
delivered to Seller the Escrowed Amount pursuant to the terms of the Deposit Escrow Agreement. 
 8.5 Form. With the exception of the
forms attached to this Agreement, all documents and instruments required hereby shall be in form and substance reasonably acceptable to Seller and Buyer. 
 ARTICLE 9 
 Casualty and Condemnation 
 9.1 Damage or Destruction/Eminent Domain. Buyer shall be bound to purchase the Property as required by the terms of this Agreement without regard
to the occurrence or effect of any damage to or destruction of the Property or condemnation of the Property by right of eminent domain, provided that the occurrence of any damage or destruction to the Property involves repair costs equal to or less
than $200,000 (“Damage Threshold Amount”), and any condemnation does not materially and adversely affect the use and value of the Property or permit the Tenant to terminate the Lease or reduce the rent payable thereunder
(“Immaterial Condemnation”), in Buyer’s reasonable discretion. If Buyer is so bound to purchase the Property notwithstanding the occurrence of damage, destruction or condemnation, then upon the Closing: (i) in the event of
damage covered by insurance or an Immaterial Condemnation occurring during the period prior to Closing Date, Buyer shall pay the full Purchase Price for such Property (less the amount of the deductible portion of the Seller’s insurance policy),
and the Seller shall assign to Buyer all rights to such net insurance proceeds or condemnation awards; and (ii) in the event of damage not covered by insurance, Buyer shall receive a credit (not to exceed $200,000) in the amount of the
estimated cost to repair such damage. 
 9.2 Major Casualty. If any of the Improvements are damaged by fire or any other casualty (the
cost for repair of which is reasonably estimated to exceed $200,000) and are not substantially restored to the condition immediately prior to such casualty before the Closing Date or Tenant is otherwise permitted under the Lease to terminate the
Lease or reduce the rent payable thereunder, Buyer shall have the right to make the following elections: 
 (a) to acquire the
Property in its then condition and pay the Purchase Price without regard to the casualty, in which event Seller shall pay over or assign to Buyer, on delivery of the Deed, (i) all amounts recovered or recoverable by Seller on account of any
insurance as a result of such casualty, less amounts reasonably expended by Seller for partial restoration; and (ii) an amount of money equal to Seller’s deductible, or 
 (b) to terminate this Agreement in which event the Escrow Agent shall return the Escrowed Amount to Buyer pursuant to the terms of the
Deposit Escrow Agreement, this Agreement shall terminate and neither Seller nor Buyer shall have any recourse against the other. 
  

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 9.3 Material Condemnation. If any portion of or interest in the Property shall be taken or is in
the process of being taken by exercise of the power of eminent domain or if any governmental authority notifies Seller in writing prior to the Closing Date of its intent to take or acquire any portion of or interest in the Property, and such
condemnation would materially and adversely affect the use and value of the Property or permit the Tenant to terminate the Lease or reduce the rent payable thereunder (“Material Condemnation”), in Buyer’s reasonable discretion,
Seller shall give written notice promptly to Buyer of such event, and Buyer shall have the option to terminate this Agreement by providing written notice to Seller to such effect on or before the date which is ten (10) days from Seller’s
written notice to Buyer of such Material Condemnation or on the Closing Date, whichever occurs first, in which event the Escrow Agent shall return the Escrowed Amount to Buyer pursuant to the terms of the Deposit Escrow Agreement, this Agreement
shall terminate, and neither Seller nor Buyer shall have any recourse against the other, except as otherwise specifically herein provided. If Buyer does not timely notify Seller of its election to terminate this Agreement, Buyer shall purchase the
Property and pay the Purchase Price, and Seller shall pay over or assign to Buyer on delivery of the Deed all awards recovered or recoverable by Seller on account of such Material Condemnation, less any amounts reasonably expended by Seller in
obtaining such award. 
 ARTICLE 10 
 Brokerage Commissions 
 10.1 Representations and Indemnity. Seller and Buyer each mutually represent and
warrant to the other that they have not dealt with, and are not obligated to pay, any fees or commissions to any broker in connection with the transaction contemplated by this Agreement other than Cushman & Wakefield (the
“Broker”). Seller is responsible for the compensation of the Broker pursuant to a separate agreement. Seller hereby agrees to indemnify, defend and hold Buyer harmless from and against all liabilities, costs, damages and expenses
(including reasonable attorneys’ fees) arising from any claims by Broker and for all other brokerage or finder’s fees, commissions or other similar fees in connection with the transaction covered by this Agreement insofar as such claims
shall be based upon alleged arrangements or agreements made by Seller. Buyer hereby agrees to indemnify, defend and hold Seller harmless from and against all liabilities, costs, damages and expenses (including reasonable attorneys’ fees)
arising from any claims for brokerage or finders’ fees, commissions or other similar fees in connection with the transaction covered by this Agreement insofar as such claims shall be based upon alleged arrangements or agreements made by Buyer.
The covenants and agreements contained in this Article shall survive the termination of this Agreement or the Closing of the transaction contemplated hereunder. 
 ARTICLE 11 
 Default, Termination and Remedies 
 11.1 Seller Default. In the event that Seller breaches or shall have failed (without legal excuse) in any material respect on the Closing Date to
have performed any of the covenants or agreements contained in this Agreement which are to be performed by Seller on or before the Closing Date, then the Buyer shall have the right as its sole remedies therefore to (i) take any and 

  

 21 

 
all legal actions necessary to compel Seller’s specific performance hereunder (it being acknowledged that damages at law would be an inadequate remedy),
and to consummate the transaction contemplated by this Agreement in accordance with the provisions of this Agreement, or (ii) terminate this Agreement and have the Escrowed Amount returned to Buyer. In no event shall Seller be liable to Buyer
for any consequential or punitive damages based upon any breach of this Agreement, including, without limitation, breaches of representation or warranty. Subject to applicable principles of fraudulent conveyance, in no event shall Buyer seek
satisfaction for any obligation from any partners, members, managers, shareholders, officers, directors, employees, agents, legal representatives, successors or assigns of the Seller, nor shall any of the foregoing have any personal liability for
any such obligations of the Seller. 
 11.2 Buyer Default. In the event the conditions to Closing contained in Section 7.2 above
have been satisfied (or Seller is ready, willing and able to satisfy said requirements) and Buyer defaults in its obligation to close hereunder and such default is not cured within one (1) business day after receipt of written notice therefore
given by Seller to Buyer, Seller shall be entitled to receive the Escrowed Amount as liquidated damages, in lieu of all other remedies available to Seller at law or in equity for such default. Seller and Buyer agree that the damages resulting to
Seller as a result of such default by Buyer as of the date of this Agreement are difficult or impossible to ascertain and the liquidated damages set forth in the preceding sentence constitute Buyer’s and Seller’s reasonable estimate of
such damages. 
 ARTICLE 12 
 Miscellaneous 
 12.1 Assignment. Buyer may not assign any of Buyer’s rights or duties under this
Agreement; provided, however, that Buyer may assign (without approval or consent of Seller) its rights and obligations hereunder to any corporation, limited liability company, partnership, realty trust or other entity affiliated with Buyer, CB
Richard Ellis Investors, LLC or CB Richard Ellis Realty Trust. In the event of any such assignment, Buyer shall deliver to Seller an executed counterpart of an assignment and assumption agreement between Buyer and its assignee. 
  

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 12.2 Notices. Any notice required or permitted to be delivered under this Agreement shall be in
writing and shall be deemed given (i) when delivered or refused by hand during regular business hours, (ii) the next business day if sent by a reputable national overnight express mail service that provides tracing and proof of receipt or
refusal of items mailed, or (iii) when sent if sent by facsimile during business hours, addressed to Seller or Buyer, as the case may be, at the address or addresses or facsimile number set forth below or such other addresses as the parties may
designate in a notice similarly sent. Any notice given by a party to Escrow Agent shall be simultaneously given to the other party. Any notice given by a party to the other party relating to its entitlement to the Escrowed Amount shall be
simultaneously given to the Escrow Agent. Notices to Seller, Buyer and/or Escrow Agent shall be delivered as follows: 
 If to Seller:

 Taunton Industrial Associates LLC 
 c/o CrossHarbor Capital Partners LLC 
 One Boston Place, Suite 2300 
 Boston, MA 02108 
 Attention: David Jones,
Vice President 
 Phone: (617) 624-8337 
 Fax: (617) 624-8399 
 with a copy to: 
 Massachusetts Mutual Life Insurance Company 
 c/o Babson Capital Management LLC 
 1500 Main Street - Suite 2100 
 Springfield,
MA 01115 
 Attention: Robert F. Little, Managing Director 
 Phone: (413) 226-1414 
 Fax: (413) 226-1498 
 and a copy to: 
 Goodwin Procter LLP

 Exchange Place 
 Boston, MA
02109 
 Attention: Lawrence R. Cahill, P.C. 
 Phone: (617) 570-1411 
 Fax: (617) 227-8591 
  

 23 

 If to Buyer: 
 RT Taunton, LLC 
 c/o CBRE Operating Partnership, L.P. 
 865 South Figueroa Street, Suite 3500 
 Los
Angeles, California 90017 
 Attn: Jack A. Cuneo, CEO/President 
 Phone: (213) 683-4200 
 Fax: (213) 683-4201 
 with a copy to: 
 RT Taunton, LLC 

c/o CB Richard Ellis Investors, LLC 
 800
Boylston Street - Suite 1475 
 Boston, Massachusetts 02176 
 Attn: Jeffrey B. Torto, CFA/Senior Director 
 Phone: (617) 425-2817 
 Fax: (617) 425-2801 
 with a copy to:

 Kirkpatrick & Lockhart LLP 
 599 Lexington Avenue 
 New York, New York 10022-6030 
 Attn: Jeffrey H. Weitzman, Esq. 
 Phone: (212) 536-3956 
 Fax: (212) 536-3901 
 If to the Escrow Agent:

 LandAmerica National Commercial Services 
 888 West 6th Street, 4th Floor 
 Los Angeles, California 90017 

Attn: Donald Hallman, Senior Vice President 
 Phone: (800) 432-0706 
 Fax: (213) 627-8722 
  

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 12.3 Interpretation. Words of any gender used in this Agreement shall be held and construed to
include any other gender, and words of a singular number shall be held to include the plural and vice versa, unless the context requires otherwise. 
 12.4 Captions. The captions used in connection with the Articles of this Agreement are for convenience only and shall not be deemed to extend, limit or otherwise define or construe the meaning of the language of this Agreement.

 12.5 No Third-Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to confer upon any person, other than
the parties hereto and their respective successors and assigns, any rights or remedies under or by reason of this Agreement. 
 12.6
Amendments. This Agreement may be amended only by a written instrument executed by Seller and Buyer (or Buyer’s permitted assignee or permitted transferee). 
 12.7 Integration. This Agreement (including the schedules and exhibits) embodies the entire agreement between Seller and Buyer with respect to the transactions contemplated in this Agreement, and there have
been and are no covenants, agreements, representations, warranties or restrictions between Seller and Buyer with regard thereto other than those set forth or provided for in this Agreement. 
 12.8 Choice of Law. This Agreement shall be construed under and in accordance with the laws of The Commonwealth of Massachusetts. 
 12.9 Counterparts. This Agreement may be executed in several counterparts, and/or by execution of counterpart signature pages which may be
attached to one or more counterpart, and all so executed shall constitute one Agreement binding on all of the parties hereto, notwithstanding that all of the parties are not signatory to the original or the same counterpart. In addition, any
counterpart signature page may be executed by any party wheresoever such party is located, and may be delivered by telephone facsimile transmission, and any such facsimile transmitted signature pages may be attached to one or more counterparts of
this Agreement, and such faxed signature(s) shall have the same force and effect, and be as binding, as original signatures executed and delivered in person. 
 12.10 Business Day. In the event any date hereunder (including the Closing Date) falls on a Saturday, Sunday or legal holiday, the date applicable shall be the next business day. 
 12.11 Time of the Essence. Time is of the essence of this Agreement. 
 12.12 Use of Proceeds to Clear Title. To enable Seller to make conveyance as herein provided, Seller may, at the time of Closing, use the Purchase
Price or any portion thereof to clear the title of any or all encumbrances or interests (other than the Permitted Exceptions), provided that provision reasonably satisfactory to Buyer’s attorney is made for prompt recording of all instruments
so procured in accordance with conveyancing practice in the jurisdiction in 

  

 25 

 
which the Property is located, the Title Company shall be in a position to release the Title Policy and all conditions to Closing shall have been satisfied.

 12.13 Submission Not an Offer or Option. THE SUBMISSION OF THIS AGREEMENT OR A SUMMARY OF SOME OR ALL OF ITS PROVISIONS FOR
EXAMINATION OR NEGOTIATION BY BUYER OR SELLER DOES NOT CONSTITUTE AN OFFER BY SELLER OR BUYER TO ENTER INTO AN AGREEMENT TO SELL OR PURCHASE THE PROPERTY, AND NEITHER PARTY SHALL BE BOUND TO THE OTHER WITH RESPECT TO ANY SUCH PURCHASE AND SALE UNTIL
A DEFINITIVE AGREEMENT SATISFACTORY TO THE BUYER AND SELLER IN THEIR SOLE DISCRETION IS EXECUTED AND DELIVERED BY BOTH SELLER AND BUYER. 
 12.14 Index of Definitions. Schedule 12.4 consists of an index to be used in locating definitions appearing in this Agreement. 
 ARTICLE 13  
 IRS Form 1099-S Designation 
 13.1 Designee. In order to comply with information reporting requirements of Section 6045(e) of the Internal Revenue Code of 1986, as
amended, and the Treasury Regulations thereunder, the parties agree (i) to execute an IRS Form 1099-S Designation Agreement at or prior to the Closing to designate the Title Company (the “Designee”) as the party who shall be
responsible for reporting the contemplated sale of the Property to the Internal Revenue Service (the “IRS”) on IRS Form 1099-S; (ii) to provide the Designee with the information necessary to complete Form 1099-S;
(iii) that the Designee shall not be liable for the actions taken under this Agreement, or for the consequences of those actions, except as they may be the result of gross negligence or willful misconduct on the part of the Designee; and
(iv) that the Designee shall be indemnified by the parties for any costs or expenses incurred as a result of the actions taken hereunder, except as they may be the result of gross negligence or willful misconduct on the part of the Designee.
The Designee shall provide all parties to this transaction with copies of the IRS Forms 1099-S filed with the IRS and with any other documents used to complete IRS Form 1099-S. 
 ARTICLE 14  
 Confidentiality 
 14.1 Confidentiality. Buyer agrees to keep confidential all of the documents, material or information regarding the Property supplied to Buyer by
Seller or by any third party at Seller’s request, including, without limitation any environmental site assessment reports furnished to Buyer (the “Property Information”), unless Buyer is compelled to disclose such, documents,
material or information by law or by subpoena. Under no circumstances shall Buyer, its agents, directors, officers or employees discuss with (or divulge to) any third party, including, without limitation, Tenant, any potential tenant or any employee
or agent of such parties, the terms of this Agreement or any of the Property Information; provided, however, that Buyer may disclose such information to its officers, directors, employees, agents, engineers, consultants, lenders, 

  

 26 

 
attorneys and accountants, provided that such parties agree to keep such information confidential. Notwithstanding anything herein to the contrary, Property
Information also may be disclosed in connection with or in response to: (i) compliance with any applicable law, ordinance or governmental order, rule, regulation, regulatory authority requirement or request or (ii) the enforcement of any
rights of Buyer under this Agreement. Buyer agrees to indemnify and hold harmless Seller from and against any and all losses, damages, claims and liabilities of any kind (including, without limitation, reasonable attorneys’ fees) arising out of
Buyer’s breach of this Section 14.1 or the breach hereof by anyone to whom Buyer has transmitted such information. In the event that the Closing does not occur in accordance with the terms of this Agreement, Buyer shall return to Seller
all of the documents, material or information regarding the Property supplied to Buyer by Seller or at the request of Seller. The provisions of this Section 14.1 shall survive the termination of this Agreement but shall no longer be applicable
following Closing in accordance with the terms of this Agreement. 
 [Remainder of Page Intentionally Left Blank] 
  

 27 

 IN WITNESS WHEREOF, the parties have executed this instrument as of the day and year first set forth
above. 
  

					
	SELLER:
	
	 Taunton Industrial Associates LLC, a Delaware
 limited liability company

		
	 By:
	 	 Taunton Standish Corp., a Massachusetts
 corporation, its sole Member

			
		 	 By:
	 	  
		 		 	 Gregory L. DeWitt

		 		 	 Assistant Clerk

	
	BUYER:
	
	RT Taunton, LLC, a Delaware limited liability company
		
	 By:   
	 	  
		 	 Jack A. Cuneo
 Manager and President

 SIGNATURE PAGE – PURCHASE AND SALE AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this instrument as of the day and year first set forth
above. 
  

					
	SELLER:
	
	Taunton Industrial Associates LLC, a Delaware limited liability company
		
	 By:
	 	Taunton Standish Corp., a Massachusetts corporation, its sole Member
			
		 	 By:
	 	  
		 		 	 Gregory L. DeWitt

		 		 	 Assistant Clerk

	
	BUYER:
	
	RT Taunton, LLC, a Delaware limited liability company
		
	 By:   
	 	  
		 	 Jack A. Cuneo
 Manager and President

 SIGNATURE PAGE – PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement, dated as of May 10, 2005

 Exhibit 10.8 
 AGREEMENT OF SALE AND PURCHASE 
 BETWEEN 
 Deerfield Commons I LLC, 
 a
Delaware limited liability company 
 as Seller 
 AND 
 RT Deerfield I, LLC, 
 a Delaware limited liability company 
 as Purchaser 
 pertaining to 
 Deerfield Commons I,
Fulton County, Georgia 
 EXECUTED EFFECTIVE AS OF 
 May 10, 2005 

 AGREEMENT OF SALE AND PURCHASE 
 THIS AGREEMENT OF SALE AND PURCHASE (this “Agreement”) is entered into and effective for all purposes as of May 10, 2005 (the
“Effective Date”), by and between DEERFIELD COMMONS I LLC, a Delaware limited liability company (“Seller”), and RT DEERFIELD I, LLC, a Delaware limited liability company, (“Purchaser”). 

In consideration of the mutual promises, covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1
Definitions. For purposes of this Agreement, the following capitalized terms have the meanings set forth in this Section 1.1: 
 “Affiliate” means any person or entity that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with Purchaser or Seller, as the case may
be. For the purposes of this definition, “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person or entity, whether through the ownership of voting
securities, by contract or otherwise, and the terms “controlling” and “controlled” have the meanings correlative to the foregoing. 
 “Agreement” has the meaning ascribed to such term in the opening paragraph. 
 “Authorities” means the various governmental and quasi-governmental bodies or agencies having jurisdiction over Seller, the Real Property, the Improvements, or any portion thereof. 
 “Broker” has the meaning ascribed to such term in Section 11.1. 
 “Business Day” means any day other than a Saturday, Sunday or a day on which national banking associations are authorized
or required to close. 
 “CERCLA” means the Comprehensive Environmental Response, Compensation, and Liability
Act of 1980 (42 U.S.C. § 9601 et seq.), as amended by the Superfund Amendments Reauthorization Act of 1986 (42 U.S.C. § 9601 et seq.), as the same may be amended. 
 “Certificate as to Foreign Status” has the meaning ascribed to such term in Section 10.3(e). 
 “Certifying Party” has the meaning ascribed to such term in Section 4.5. 
 “Closing” means the consummation of the purchase and sale of the Property contemplated by this Agreement, as provided for
in ARTICLE X. 
  

 1 

 “Closing Date” means the date on which the Closing occurs, which date
will be the date that is the earlier of (i) five (5) Business Days after the date on which (a) the condition in Section 7.2(a) has been satisfied and (b) Seller’s lender permits Seller to prepay the debt encumbering the
Property, and (ii) June 28, 2005; provided, however, in no event shall the Closing Date be earlier than May 13, 2005. 
 “Closing Statement” has the meaning ascribed to such term in Section 10.4(a). 
 “Closing Surviving Obligations” means the covenants, rights, liabilities and obligations set forth in Sections 3.2(a), 3.2(b) (subject to Section 16.1), 4.9, 5.2(a), 5.2(d), 5.3, 5.5, 5.6, 8.1 (subject to
Section 16.1), 8.2, 10.4 (subject to the limitations therein), 10.7, 11.1, 13.3, 16.1 and Article 17. 
 “Closing
Time” has the meaning ascribed to such term in Section 10.4(a). 
 “Code” has the meaning
ascribed to such term in Section 4.9. 
 “Commitment” has the meaning ascribed to such term in
Section 6.2(a). 
 “Confidentiality Agreement” means that certain Confidentiality Agreement dated
March 3, 2005 executed by CB Richard Ellis Investors. 
 “Deed” has the meaning ascribed to such term in
Section 10.3(a). 
 “Declarant” means Deerfield Park, LLC as “Declarant” under the Master
Declaration. 
 “Deerfield Commons II Agreement” means that certain Purchase and Sale Agreement dated as of
the date hereof between RT Deerfield II, a Delaware limited liability company that is indirectly owned and controlled by the same constituents as Purchaser, and Deerfield Park, LLC, a Georgia limited liability company. 
 “Deposit” has the meaning ascribed to such term in Section 4.1. 
 “Deposit Time” means 4:00 p.m. Atlanta, Georgia local time on the Business Day that is immediately preceding the Closing
Date. 
 “Documents” has the meaning ascribed to such term in Section 5.2(a). 
 “Earnest Money Deposit” has the meaning ascribed to such term in Section 4.1. 
 “Effective Date” has the meaning ascribed to such term in the opening paragraph of this Agreement. 
 “Environmental Laws” means all federal, state and local environmental laws (including, without limitation, principles of
common law), rules, statutes, directives, binding written interpretations, binding written policies, ordinances and regulations issued by any Authorities and in effect as of the date of this Agreement with respect to or which otherwise 

  

 2 

 
pertain to or affect the Real Property or the Improvements, or any portion thereof, the use, ownership, occupancy or operation of the Real Property or the
Improvements, or any portion thereof, or Seller or Purchaser, and as same have been amended, modified or supplemented from time to time prior to and are in effect as of the date of this Agreement, including but not limited to CERCLA, the Hazardous
Substances Transportation Act (49 U.S.C. § 1802 et seq.), RCRA, the Water Pollution Control Act (33 U.S.C. § 1251 et seq.), the Safe Drinking Water Act (42 U.S.C. § 300f et seq.), the Clean Air Act (42 U.S.C. § 7401 et seq.), the
Toxic Substances Control Act (15 U.S.C. § 2601 et seq.), the Emergency Planning and Community Right-to-Know Act of 1986 (42 U.S.C. § 11001 et seq.), the Radon and Indoor Air Quality Research Act (42 U.S.C. § 7401 note, et seq.),
comparable state and local laws, and any and all rules and regulations which are in effect as of the date of this Agreement under any and all of the aforementioned laws. 
 “Escrow Agent” means Piedmont Title Insurance Agency, Inc., 150 E. Ponce de Leon Ave., Suite 330, Decatur, Georgia 30030,
Attn: Mr. Paul M. McLarty, Jr., Phone: (404) 377-6464. Escrow Agent will be acting as agent for the Title Company. 
 “Escrow Instructions” has the meaning ascribed to such term in Section 4.2. 
 “Existing Survey” has the meaning ascribed to such term in Section 6.1. 
 “General
Conveyance” has the meaning ascribed to such term in Section 10.2(b). 
 “Governmental
Regulations” means all laws, ordinances, rules and regulations of the Authorities applicable to Seller or the development, construction, ownership, use and operation of the Real Property or the Improvements or any portion thereof.

 “Hazardous Substances” means all (a) asbestos, radon gas, electromagnetic waves, urea formaldehyde
foam insulation and transformers or other equipment that contains dielectric fluid containing polychlorinated biphenyls of 50 ppm or greater, (b) any solid, liquid, gaseous or thermal contaminant, including smoke vapor, soot, fumes, acids,
alkalis, chemicals, waste, petroleum products or byproducts, asbestos, PCBs, phosphates, lead or other heavy metals, chlorine, or radon gas, (c) any solid or liquid wastes (including hazardous wastes), hazardous air pollutants, hazardous
substances, hazardous chemical substances and mixtures, toxic substances, pollutants and contaminants, as such terms are defined in any Environmental Law, including, without limitation CERCLA, RCRA, the National Environmental Policy Act (42 U.S.C.
§ 4321 et seq.), the Hazardous Substances Transportation Act, the Toxic Substances Control Act, the Clean Water Act (33 U.S.C. § 1321 et seq.), the Clean Air Act, the Occupational Safety and Health Act (29 U.S.C. § 651 et seq.), as
such Laws have been amended and/or supplemented from time to time prior to the date of this Agreement, and any and all rules and regulations promulgated under any of the above, and (d) any other chemical, material or substance, the use or
presence of which, or exposure to the use or presence of which, is prohibited, limited or regulated by any Environmental Laws, in effect as of or prior to the date of this Agreement or as the same may be amended or supplemented after the date of
this Agreement. 
  

 3 

 “Improvements” means all buildings, structures, fixtures, parking areas
and improvements owned by Seller and located on the Real Property. 
 “Independent Consideration” has the
meaning ascribed to such term in Section 3.4. 
 “Inspection Agreement” means that certain Inspection
Agreement dated April 27, 2005 between Seller and Purchaser. 
 “Inspection Date” means May 10,
2005. 
 “Leasing Costs” has the meaning ascribed to such term in Section 10.4(e). 
 “Licensee Parties” has the meaning ascribed to such term in Section 5.1(a). 
 “Licenses and Permits” means, collectively, all of Seller’s right, title and interest, to the extent assignable
without the necessity of consent or assignable only with consent and such consent has been obtained, in and to licenses, permits, certificates of occupancy, approvals, dedications, subdivision maps and entitlements issued, approved or granted by the
Authorities and/or the Declarant prior to Closing in connection with the Real Property and the Improvements, together with all renewals and modifications thereof. 
 “Lists” has the meaning ascribed to such term in Section 8.2(f). 
 “Major Tenants” has the meaning ascribed to such term in Section 7.2(a). 
 “Master Declaration” means the Master Declaration of Protective Covenants and Owners Association for Deerfield, recorded
January 13, 1997 at Deed Book 22035, Page 183 in the Official Records, as such may be or may have been amended, modified or supplemented. 
 “New Tenant Costs” has the meaning ascribed to such term in Section 10.4(e). 
 “OFAC” has the meaning ascribed to such term in Section 8.2(e). 
 “Official
Records” means the Official Records of Real Property in the Office of the Clerk and Recorder of the County of Fulton, Georgia. 
 “Operating Expense Recoveries” has the meaning ascribed to such term in Section 10.4(c). 
 “Order” has the meaning ascribed to such term in Section 8.2(e). 
 “Orders” has the meaning ascribed to such term in Section 8.2(e). 
 “Other
Party” has the meaning ascribed to such term in Section 4.5. 
 “Permitted Exceptions” has the
meaning ascribed to such term in Section 6.2(a). 
  

 4 

 “Permitted Outside Parties” has the meaning ascribed to such term in
Section 5.2(b). 
 “Person” means any individual, partnership, limited partnership, joint venture,
corporation, limited liability company, trust, estate, custodian, trustee, executor, administrator, nominee, representative, unincorporated organization, sole proprietorship, trust, employee benefit plan, tribunal, governmental entity, department,
or agency, or other entity. 
 “Personal Property” means all equipment, appliances, tools, supplies,
machinery, artwork, furnishings and other tangible personal property owned by Seller and attached to, appurtenant to, located in and used exclusively in connection with the ownership or operation of the Improvements and described on Exhibit
A attached hereto. 
 “Property” has the meaning ascribed to such term in Section 2.1.

 “Proration Items” has the meaning ascribed to such term in Section 10.4(a). 
 “Purchase Price” has the meaning ascribed to such term in Section 3.1. 
 “Purchaser” has the meaning ascribed to such term in the opening paragraph of this Agreement. 
 “Purchaser’s Information” has the meaning ascribed to such term in Section 5.2(c). 
 “RCRA” means the Resource Conservation and Recovery Act (42 U.S.C. § 6901 et seq.), as amended by the Hazardous and
Solid Wastes Amendments of 1984, and as further amended. 
 “Real Property” means those certain parcels of
real property located in Fulton County, Georgia, as more particularly described on Exhibit B attached hereto and made a part hereof, together with all of Seller’s right, title and interest, if any, in and to the appurtenances
pertaining thereto, including but not limited to Seller’s right, title and interest in and to the streets, alleys and right-of-ways which abut such real property, and any easement rights, air rights, subsurface rights, development rights and
water rights appurtenant to such real property. 
 “Records and Plans” means, collectively: (i) all
books and records, including but not limited to property operating statements, specifically relating to the Improvements; (ii) all structural reviews, architectural drawings and engineering, soils, seismic, geologic and architectural reports,
studies and certificates pertaining to the Real Property or the Improvements; and (iii) all final plans, specifications and drawings of the Improvements or any portion thereof. The terms “Records and Plans” shall not include
(1) any document or correspondence that is presently subject to the attorney- client privilege; (2) any document or item which Seller is contractually or legally bound to keep confidential; (3) any documents pertaining to the
marketing of the Property for sale to prospective purchasers; (4) any internal memoranda, reports or assessments of Seller or Seller’s Affiliates relating to Seller’s valuation of the Property; (5) appraisals of the Property
whether prepared internally by Seller or Seller’s Affiliates or externally; (6) any documents or items which Seller considers confidential or 

  

 5 

 
proprietary; (7) any documents or items which are not in Seller’s possession and control, and (8) any materials projecting or relating to the
future performance of the Property. 
 “Release” means the release, spill, emission, leaking, pumping,
injection, deposit, disposal, discharge, dispersal, leaking or migrating into the indoor or outdoor environment any Hazardous Substances through or in the air, soil, subsurface, surface water, groundwater or property, in each case only to the extent
not in compliance with Environmental Laws. 
 “Rentals” has the meaning ascribed to such term in
Section 10.4(b), and some may be “Delinquent” in accordance with the meaning ascribed to such term in Section 10.4(b). 
 “Rent Roll” has the meaning ascribed to such term in Section 5.2(a). 
 “Reporting Person” has the meaning ascribed to such term in Section 4.9(a). 
 “RT
Deerfield II” is a Delaware limited liability company that is the “Purchaser” under the Deerfield Commons II Agreement and is indirectly owned and controlled by the same constituents as Purchaser. 
 “Seller” has the meaning ascribed to such term in the opening paragraph of this Agreement. 
 “Seller Certificate” has the meaning ascribed to such term in Section 7.2(b). 
 “Service Contracts” means all service agreements, maintenance contracts, equipment leasing agreements, warranties,
guarantees, bonds and other contracts for the provision of labor, services, materials or supplies relating solely to the Real Property, Improvements or Personal Property and under which Seller is currently paying for services rendered in connection
with the Property or is otherwise a party, as listed and described on Exhibit C attached hereto, together with all renewals, supplements, amendments and modifications thereof, and any new such agreements entered into after the
Effective Date, to the extent permitted by Section 7.1(f), except that any management agreements will be terminated at Closing and are excluded from such term. 
 “Significant Portion” means damage by fire or other casualty to the Real Property and the Improvements or a portion
thereof requiring repair costs in excess of $750,000, as such repair costs are reasonably estimated by Seller. 
 “Tenant Deposits” means all security deposits, paid or deposited by the Tenants to Seller, as landlord, or any other person on Seller’s behalf pursuant to the Tenant Leases, which have not been applied to obligations
under Tenant Leases (together with any interest which has accrued thereon, but only to the extent such interest has accrued for the account of the respective Tenants), and including all guarantees and letters of credit given by Tenants pursuant to
the Tenant Leases. 
 “Tenant Leases” means the following pertaining to the Improvements: (i) any and
all existing written or oral leases, rental agreements, occupancy agreements and license agreements (and any and all written renewals, amendments, modifications and supplements 

  

 6 

 
thereto) entered into by the landlord of the Real Property as of the Effective Date and as listed and described in Exhibit G attached
hereto, (ii) any and all new written leases, rental agreements, occupancy agreements and license agreements entered into after the Effective Date and prior to the Closing Date and (iii) any and all new written renewals, amendments,
modifications and supplements to any of the foregoing entered into after the Effective Date and prior to the Closing Date, and, as to (ii) and (iii) only, to the extent approved by Purchaser pursuant to Section 7.1(e). Tenant Leases
will not include subleases, franchise agreements or similar occupancy agreements entered into by Tenants which, by their nature, are subject to Tenant Leases. 
 “Tenant Notice Letters” has the meaning ascribed to such term in Section 10.7. 
 “Tenants” means all persons or entities leasing, renting or occupying space within the Improvements pursuant to the
Tenant Leases, but expressly excludes any subtenants, licensees, concessionaires, franchisees or other persons or entities whose occupancy is derived through Tenants. 
 “Termination Surviving Obligations” means the rights, liabilities and obligations set forth in Sections 5.2, 5.3, 5.6,
11.1, 12.1, Article XIII and Article XVII. 
 “Title Company” means First American Title Insurance Company.

 “Title Policy” has the meaning ascribed to such term in Section 6.2(a). 
 “To Seller’s Knowledge” means the present actual (as opposed to constructive or imputed) knowledge solely of Brian
Eichenseer, Property Manager, and Vikram Mehra, Project Manager of the Deerfield Project. Such individuals are named in this Agreement solely for the purpose of establishing the scope of Seller’s knowledge. Such individuals shall not be deemed
to be parties to this Agreement nor to have made any representations or warranties hereunder, and no recourse shall be had to such individuals for any of Seller’s representations and warranties hereunder (and Purchaser hereby waives any
liability of or recourse against such individuals). 
 “Tree Preservation Area” means that certain area of
the Property designated as the “Tree Preservation Area” on the Survey. 
 Section 1.2 References; Exhibits and
Schedules. Except as otherwise specifically indicated, all references in this Agreement to Articles or Sections refer to Articles or Sections of this Agreement, and all references to Exhibits or Schedules refer to Exhibits or Schedules
attached hereto, all of which Exhibits and Schedules are incorporated into, and made a part of, this Agreement by reference. The words “herein,” “hereof,” “hereinafter” and words and phrases of similar import refer to
this Agreement as a whole and not to any particular Section or Article. 
 ARTICLE II 
 AGREEMENT OF PURCHASE AND SALE 
 Section 2.1 Agreement. Seller hereby agrees to sell, convey and assign to Purchaser, and Purchaser hereby agrees to purchase and accept from Seller, on the Closing Date and subject 

  

 7 

 
to the terms and conditions of this Agreement, all of the following (collectively, the “Property”): 
 (a) the Real Property; 
 (b) the Improvements; 
 (c) the Personal Property; 
 (d) all of Seller’s right, title and interest as lessor in and to the Tenant Leases and, subject to the terms of the respective
applicable Tenant Leases, the Tenant Deposits; 
 (e) all of Seller’s right, title and interest, if any, in, to and under
the Service Contracts and the Licenses and Permits, in each case to the extent assignable without the necessity of consent or approval of the Authorities and, if consent or approval is required, to the extent any necessary consent or approval has
been obtained (Seller, at no cost or expense to Seller, shall reasonably cooperate with Purchaser in obtaining such consent or approval); 
 (f) all of Seller’s right, title and interest, to the extent assignable or transferable without the necessity of consent or approval (and if consent or approval is required, to the extent such consent or approval
has been obtained), in and to all trade names, trademarks, logos and service marks (in each case, if any) utilized solely by Seller in connection with the use and operation of the Real Property and Improvements (other than the names or variations
thereof of Seller, its Affiliates, the property manager and Tenants); and 
 (g) all of Seller’s right, title and
interest, if any, to the extent assignable or transferable without the necessity of consent or approval (and if consent or approval is required, to the extent such consent or approval has been obtained), in and to and under all building warranties
and guarantees and all outstanding surety, performance and payment bonds relating to the construction of the Improvements and all existing surveys, blueprints, renderings, drawings, plans and specifications and other documentation with respect to
the development, construction, leasing, use and operation of the Property, including correspondence with Tenants, vendors, suppliers, contractors and the Declarant. 
 Section 2.2 Indivisible Economic Package. Purchaser has no right to purchase, and Seller has no obligation to sell, less than all of the Property, it being the express agreement and understanding
of Purchaser and Seller that, as a material inducement to Seller and Purchaser to enter into this Agreement, Purchaser has agreed to purchase, and Seller has agreed to sell, all of the Property, subject to and in accordance with the terms and
conditions hereof. 
 ARTICLE III 
 CONSIDERATION 
 Section 3.1 Purchase Price. The purchase price for the Property (the
“Purchase Price”) will be NINETEEN MILLION FOUR HUNDRED FIFTY THOUSAND and No/100 Dollars ($19,450,000) in lawful currency of the United States of America, payable as provided in Section 3.3. 
  

 8 

 Section 3.2 Assumption of Obligations. 
 (a) As additional consideration for the purchase and sale of the Property, effective as of Closing, but except as otherwise provided in
this Agreement, Purchaser will be deemed to have, and by virtue of closing the purchase of the Property Purchaser shall have: (1) assumed and agreed to perform or pay, as applicable, (i) all of the covenants and obligations of Seller,
Seller’s predecessor in title and Seller’s Affiliates set forth in the Tenant Leases and Service Contracts assigned to Purchaser and which are to be performed subsequent to the Closing Date, (ii) all obligations imposed on the
lessor/owner and under the provisions of the Tenant Leases and the Service Contracts assigned to Purchaser and relating to the physical or environmental condition of the Property, regardless of whether such obligations arise before or after the
Closing Date and (iii) the Leasing Costs for which Purchaser is responsible under Section 10.4(e) below; and (2) assumed and agreed to discharge, perform and comply with each and every liability, duty, covenant, debt or obligation of
Seller or any of its Affiliates set forth in the Licenses and Permits or the Permitted Exceptions and arising or accruing on or after the Closing Date. Purchaser hereby indemnifies, defends, and holds Seller and its Affiliates harmless from and
against any and all claims, liens, damages, demands, causes of action, liabilities, lawsuits, judgments, losses, costs and expenses (including without limitation, reasonable attorneys’ fees and expenses) asserted against or incurred by Seller
or its Affiliates and arising out of the failure of Purchaser to perform its obligations pursuant to this Section 3.2(a). The provisions of this Section 3.2(a) shall fully survive the Closing without limitation. 
 (b) Effective as of Closing, Seller will be deemed to have, and by virtue of closing the sale of the Property Seller shall have, agreed to
defend, indemnify and hold Purchaser and its Affiliates harmless from and against any and all claims, liens, damages, demands, causes of action, liabilities, lawsuits, judgments, losses, costs and expenses (including without limitation, reasonable
attorneys’ fees and expenses) asserted against or incurred by Purchaser or any of its Affiliates by reason of or arising out of any failure by Seller to perform its obligations under the Service Contracts, Tenant Leases or Licenses and Permits
assigned to Purchaser to the extent the same arose prior to the Closing Date, other than (1) any obligations relating to the physical or environmental conditions of the Property, and (2) any Leasing Costs that are expressly assumed by
Purchaser as provided in this Agreement; provided, however, that Seller’s obligations under this subsection (b) shall not apply to any claims which (i) are based on any matter which is identified in this Agreement (including the
Schedules and Exhibits hereto) as an exception or qualification to any representation or warranty of Seller set forth herein, or in any estoppel certificate delivered to Purchaser at or prior to the Closing pursuant to this Agreement by any Tenant,
(ii) are based on any matter constituting a breach of Seller’s representations and warranties that is deemed waived by Purchaser pursuant to the terms of this Agreement or (iii) are based on a liability which was taken into account as
a Closing adjustment pursuant to Section 10.4. The provisions of this Section 3.2(b) are subject in all events to the provisions of Section 16.1 below. This Section 3.2(b) shall survive Closing only to the extent provided in
Section 16.1 below. 
 Section 3.3 Method of Payment of Purchase Price. No later than the Deposit Time, Purchaser
will deposit in escrow with the Escrow Agent the Purchase Price (subject to adjustments described in Section 10.4), together with all other costs and amounts to be paid by Purchaser at Closing pursuant to the terms of this Agreement, by Federal
Reserve wire transfer 

  

 9 

 
of immediately available funds to an account to be designated by the Escrow Agent. Provided that Seller has performed all of its material obligations
hereunder and all conditions to Closing have been satisfied or waived, no later than 10:00 a.m. Atlanta, Georgia local time on the Closing Date: (a) Purchaser will instruct the Escrow Agent to (i) pay to Seller by Federal Reserve wire
transfer of immediately available funds to an account to be designated by Seller, the Purchase Price (subject to adjustments described in Section 10.4), less any costs or other amounts to be paid by Seller at Closing pursuant to the terms of
this Agreement and all escrows to be established from the Purchase Price under this Agreement, and (ii) pay to all appropriate payees the other costs and amounts to be paid by Purchaser at Closing pursuant to the terms of this Agreement; and
(b) Seller will direct the Escrow Agent to pay to the appropriate payees out of the proceeds of Closing payable to Seller, all costs and amounts to be paid by Seller at Closing pursuant to the terms of this Agreement. Prior to the Closing,
Seller will cause the Escrow Agent to furnish Purchaser with an insured closing letter issued by the Title Company. 
 Section 3.4
Independent Consideration. The sum of One Hundred Dollars ($100.00) (the “Independent Consideration”) out of the Earnest Money Deposit is independent of any other consideration provided hereunder, shall be fully earned
by Seller upon the Effective Date hereof, and is not refundable to Purchaser under any circumstances. Accordingly, if this Agreement is terminated for any reason by either party, the Independent Consideration shall be paid by the Escrow Agent to
Seller. 
 ARTICLE IV 
 EARNEST MONEY DEPOSIT AND ESCROW INSTRUCTIONS 
 Section 4.1 The Deposit. Simultaneously with the
execution and delivery of this Agreement, Purchaser has deposited with the Escrow Agent, in good funds immediately collectible by the Escrow Agent, the sum of One Million Five Hundred Thousand and No/100 Dollars ($1,500,000.00) (the
“Deposit”), which will be held in escrow by the Escrow Agent pursuant to the terms of this Agreement. The Deposit (plus all interest earned thereon) shall be the “Earnest Money Deposit” for purposes of this
Agreement. If Purchaser fails to deliver any portion of the Earnest Money to the Escrow Agent within the time period or periods specified above, Purchaser shall be in default hereunder. 
 Section 4.2 Escrow Instructions. Article IV of this Agreement constitutes the escrow instructions of Seller and Purchaser to the
Escrow Agent with regard to the Earnest Money Deposit and the Closing (the “Escrow Instructions”). By its execution of the joinder attached hereto, the Escrow Agent agrees to be bound by the provisions of this Article IV. If any
requirements relating to the duties or obligations of the Escrow Agent hereunder are not reasonably acceptable to the Escrow Agent, or if the Escrow Agent requires additional instructions, the parties agree to make such deletions, substitutions and
additions to the Escrow Instructions as Purchaser and Seller hereafter mutually approve in writing and which do not materially alter this Agreement or its intent. In the event of any conflict between this Agreement and such additional escrow
instructions, this Agreement will control. 
 Section 4.3 Documents Deposited into Escrow. On or before the Deposit
Time, (a) Purchaser will cause the difference between the Purchase Price and the Earnest Money Deposit and interest thereon (subject to the prorations provided for in Section 10.4 and with the addition 

  

 10 

 
of all Closing costs to be paid by Purchaser) to be transferred to the Escrow Agent’s escrow account, in accordance with the timing and other
requirements of Section 3.3, (b) Purchaser will deliver in escrow to the Escrow Agent the documents described and provided for in Section 10.2(b), (c), (d) and (e) below, and (c) Seller will deliver in escrow to the
Escrow Agent the documents described and provided for in Section 10.3(a), (b), (c), (d), (e), (f), (g), (i), (l), (m), (n), (o), (p) and (q) below. 
 Section 4.4 Close of Escrow. Provided that the Escrow Agent has not received from Seller or Purchaser any written termination notice as described and provided for in Section 4.5 (or if such a
notice has been previously received, provided that the Escrow Agent has received from such party a withdrawal of such notice), when Purchaser and Seller have delivered the documents required by Section 4.3, the Escrow Agent will: 
 (a) If applicable and when required, file with the Internal Revenue Service (with copies to Purchaser and Seller) the reporting statement
required under Section 6045(e) of the Internal Revenue Code and Section 4.9; 
 (b) Insert the applicable Closing
Date as the date of any document delivered to the Escrow Agent undated, and assemble counterparts into single instruments; 
 (c) Disburse to Seller, by wire transfer to Seller of immediately available federal funds, in accordance with wiring instructions to be obtained by the Escrow Agent from Seller, all sums to be received by Seller from Purchaser at the
Closing, comprised of the Purchase Price as adjusted in accordance with the provisions of this Agreement; 
 (d) Deliver the
Deed to Purchaser by agreeing to cause the same to be recorded in the Official Records and agreeing to obtain conformed copies of the recorded Deed for delivery to Purchaser and to Seller following recording; 
 (e) Cause the Title Company to issue to Purchaser the Title Policy required by Section 6.2(a) of this Agreement; 
 (f) Deliver to Seller, in addition to Seller’s Closing proceeds, all documents deposited with the Title Company for delivery to
Seller at the Closing; 
 (g) Deliver to Purchaser (i) all documents deposited with the Escrow Agent for delivery to
Purchaser at the Closing and (ii) any funds deposited by Purchaser in excess of the amount required to be paid by Purchaser pursuant to this Agreement; and 
 (h) Create all escrows to be established under this Agreement. 
 Section 4.5 Termination Notices. If at any time the Escrow Agent receives a certificate of either Seller or Purchaser (for purposes
of this Section 4.5, the “Certifying Party”) stating that: (a) the Certifying Party is entitled to receive the Earnest Money Deposit pursuant to the terms of this Agreement, and (b) a copy of the certificate was
delivered as provided herein to the other party (for purposes of this Section 4.5, the “Other Party”) prior to or contemporaneously with the giving of such certificate to the Escrow Agent, then, unless the Escrow Agent has then
previously received, or receives within five (5) Business Days after 

  

 11 

 
receipt of the Certifying Party’s certificate, contrary instructions from the Other Party, the Escrow Agent, within one (1) Business Day after the
expiration of the foregoing five (5) Business Day period, will deliver the Independent Consideration to Seller and the Earnest Money Deposit to the Certifying Party, and thereupon the Escrow Agent will be discharged and released from any and
all liability hereunder. If the Escrow Agent receives contrary instructions from the Other Party within five (5) Business Days following the Escrow Agent’s receipt of said certificate, the Escrow Agent will not so deliver the Earnest Money
Deposit, but will continue to hold the same pursuant hereto, subject to Section 4.6. 
 Section 4.6 Indemnification of
Escrow Agent. If this Agreement or any matter relating hereto becomes the subject of any litigation or controversy, Purchaser and Seller jointly and severally, will hold Escrow Agent free and harmless from any loss or expense, including
reasonable attorneys’ fees, that may be suffered by it by reason thereof other than as a result of Escrow Agent’s gross negligence or willful misconduct. In the event conflicting demands are made or notices served upon Escrow Agent with
respect to this Agreement, or if there is uncertainty as to the meaning or applicability of the terms of this Agreement or the Escrow Instructions, Purchaser and Seller expressly agree that the Escrow Agent will be entitled to file a suit in
interpleader and to obtain an order from the court requiring Purchaser and Seller to interplead and litigate their several claims and rights among themselves. Upon delivery of the Independent Consideration to Seller and the filing of the action in
interpleader and the deposit of the Earnest Money Deposit into the registry of the court, the Escrow Agent will be fully released and discharged from any further obligations imposed upon it by this Agreement after such deposit. 
 Section 4.7 Maintenance of Confidentiality by Escrow Agent. Except as may otherwise be required by law or by this Agreement, the
Escrow Agent will maintain in strict confidence and not disclose to anyone the existence of this Agreement, the identity of the parties hereto, the amount of the Purchase Price, the provisions of this Agreement or any other information concerning
the transactions contemplated hereby, without the prior written consent of Purchaser and Seller in each instance. 
 Section 4.8
Investment of Earnest Money Deposit. The Escrow Agent will invest and reinvest the Deposit, at the instruction and sole election of Purchaser, only in (a) bonds, notes, Treasury bills or other securities constituting direct
obligations of, or guaranteed by the full faith and credit of, the United States of America, and in no event maturing beyond the Closing Date, or (b) an interest-bearing account at a commercial bank mutually acceptable to Seller, Purchaser and
Escrow Agent. The investment of the Deposit will be at the sole risk of Purchaser and no loss on any investment will relieve Purchaser of its obligations to pay to Seller as liquidated damages the original amount of the Deposit as provided in
Article XIII, or of its obligation to pay the Purchase Price; provided that the foregoing shall not relieve the Escrow Agent of its obligations hereunder. All interest earned on the Deposit will be the property of Purchaser and will be reported to
the Internal Revenue Service as income until such time as Seller is entitled to the Deposit pursuant to this Agreement. Purchaser will provide the Escrow Agent with a taxpayer identification number and will pay all income taxes due by reason of
interest accrued on the Deposit. 
  

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 Section 4.9 Designation of Reporting Person. In order to assure compliance with the
requirements of Section 6045 of the Internal Revenue Code of 1986, as amended (for purposes of this Section 4.9, the “Code”), and any related reporting requirements of the Code, the parties hereto agree as follows:

 (a) The Escrow Agent (for purposes of this Section 4.9, the “Reporting Person”), by its execution
hereof, hereby assumes all responsibilities for information reporting required under Section 6045(e) of the Code. 
 (b)
Seller and Purchaser each hereby agree: 
 (i) to provide to the Reporting Person all information and certifications regarding
such party, as reasonably requested by the Reporting Person or otherwise required to be provided by a party to the transaction described herein under Section 6045 of the Code; and 
 (ii) to provide to the Reporting Person such party’s taxpayer identification number and a statement (on Internal Revenue Service Form
W-9 or an acceptable substitute form, or on any other form the applicable current or future Code sections and regulations might require and/or any form requested by the Reporting Person), signed under penalties of perjury, stating that the taxpayer
identification number supplied by such party to the Reporting Person is correct. 
 (c) Each party hereto agrees to retain
this Agreement for not less than four years from the end of the calendar year in which Closing occurred, and to produce it to the Internal Revenue Service upon a valid request therefor. 
 (d) The addresses for Seller and Purchaser are as set forth in Section 14.1 hereof, and the real estate subject to the transfer
provided for in this Agreement is described in Exhibit B. 
 ARTICLE V 
 INSPECTION OF PROPERTY 
 Section 5.1 Entry and Inspection. 
 (a) Purchaser expressly acknowledges and confirms that,
prior to the execution and delivery of this Agreement, Purchaser and Seller executed and delivered the Inspection Agreement pursuant to which Purchaser and its agents, representatives, contractors and consultants have inspected and investigated the
Property and conducted certain tests, evaluations and assessments of the Property as Purchaser deemed necessary, appropriate or prudent in any respect and for all purposes in connection with Purchaser’s acquisition of the Property and the
consummation of the transaction contemplated by this Agreement. From and after the Effective Date, but subject to the provisions of this Section 5.1 and subject to the obligations set forth in Section 5.3 below, Seller will permit
Purchaser and its authorized agents and representatives (collectively, the “Licensee Parties”) the right to enter upon the Real 

  

 13 

 
Property at all reasonable times during normal business hours to perform additional inspections of the Property and communicate with Tenants and service
providers; provided, however, Purchaser shall not have the right to communicate with Tenants or service providers unless interviews and communications are coordinated through Seller and Seller shall have the right to participate in any such
communications, but if Seller fails to respond to any communication request within 24 hours after such request, Purchaser shall not be required to coordinate such communication with Seller. Purchaser will provide Seller with telephonic notice
(by contacting Brian Eichenseer at (770) 392-7209) of the intention of Purchaser or the other Licensee Parties to enter the Real Property at least 24 hours prior to such intended entry and specify the intended purpose therefor and the
inspections and examinations contemplated to be made and/or the Tenants and service providers with whom any Licensee Party will communicate. At Seller’s option, Seller may be present for any such entry, inspection and communication with any
Tenants or service providers. Notwithstanding anything to the contrary contained herein, no physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without Seller’s
specific prior written consent, which consent may be withheld, delayed or conditioned in Seller’s sole and absolute discretion; provided, however, that prior to giving any such approval, Seller shall be provided with a written sampling plan in
reasonable detail in order to allow Seller a reasonable opportunity to evaluate such proposal. If Purchaser or the other Licensee Parties undertake any borings or other disturbances of the soil, the soil shall be recompacted to substantially its
condition as existed immediately before any such borings or other disturbances were undertaken. If Purchaser or any Licensee Party takes any sample from the Real Property in connection with any testing, Purchaser shall, upon the request of Seller,
provide to Seller a portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing. 
 (b)
Subject to the obligations set forth in Section 5.3 below, the Licensee Parties shall have the right to communicate directly with the Authorities for any good faith reasonable purpose in connection with this transaction contemplated by this
Agreement; provided, however, Purchaser shall provide Seller at least 24 hours prior telephonic notice of Purchaser’s intention to communicate with any Authorities and Seller shall have the right to participate in any such communications.

 Section 5.2 Document Review. 
 (a) Purchaser expressly acknowledges and confirms that, on or before the Inspection Date, Purchaser and its authorized agents or
representatives will have reviewed, inspected, examined, analyzed, verified and photocopied, or had the opportunity to review, inspect, examine, analyze, verify and photocopy, at either the office of Seller, Seller’s property manager or at the
Real Property, the following relative to the Property to the extent in Seller’s possession or control (collectively, the “Documents”): (i) the existing environmental reports and studies of the Property set forth on
Exhibit O attached hereto; (ii) assessments (special or otherwise), ad valorem and personal property tax bills, covering the year preceding the Effective Date; (iii) Seller’s most current rent roll (the “Rent
Roll”); (iv) operating statements for the three (3) previous calendar years; (v) copies of the Tenant Leases, the Service Contracts, the Licenses and Permits and the Records and Plans; and (vi) a current inventory of the
Personal Property. 
  

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 (b) Purchaser acknowledges that any and all of the Documents may be proprietary and
confidential in nature and have been provided to Purchaser solely to assist Purchaser in determining the feasibility of purchasing the Property and to confirm the accuracy of the matters set forth herein. Subject only to the provisions of Article
XII, prior to the Closing, Purchaser agrees not to disclose the contents of the Documents, or any of the provisions, terms or conditions contained therein, to any party outside of Purchaser’s organization other than its advisors, attorneys,
partners, insurers, accountants, lenders or investors (collectively, for purposes of this Section 5.2(b), the “Permitted Outside Parties”). Purchaser further agrees that within its organization, or as to the Permitted Outside
Parties, the Documents will be disclosed and exhibited only to those persons within Purchaser’s organization or to those Permitted Outside Parties who are responsible for determining the feasibility of Purchaser’s acquisition of the
Property. Purchaser further acknowledges that the Documents and other information relating to the leasing arrangements between Seller and the Tenants or prospective tenants are proprietary and confidential in nature. Prior to the Closing, Purchaser
agrees not to divulge the contents of such Documents and other information except in strict accordance with the confidentiality standards set forth in this Section 5.2 and Article XII. In permitting Purchaser and the Permitted Outside Parties
to review the Documents or information to assist Purchaser, Seller has not waived any privilege or claim of confidentiality with respect thereto, and no third party benefits or relationships of any kind, either express or implied, have been offered,
intended or created by Seller and any such claims are expressly rejected by Seller and waived by Purchaser and the Permitted Outside Parties, for whom, by its execution of this Agreement, Purchaser is acting as an agent with regard to such waiver.

 (c) Purchaser will return to Seller all copies Purchaser has made of the Documents and all copies of any studies, reports
or test results regarding any part of the Property obtained by Purchaser before or after the execution of this Agreement, in connection with Purchaser’s inspection of the Property (collectively, “Purchaser’s Information”)
not later than ten (10) Business Days following the time this Agreement is terminated for any reason. 
 (d) Purchaser
acknowledges that some of the Documents may have been prepared by third parties and may have been prepared prior to Seller’s ownership of the Property. Purchaser hereby acknowledges that, except as expressly provided in Section 8.1 below,
Seller has not made and does not make any representation or warranty regarding the truth, accuracy or completeness of the Documents or the sources thereof (whether prepared by Seller, Seller’s Affiliates or any other person or entity). Seller
has not undertaken any independent investigation as to the truth, accuracy or completeness of the Documents. 
 (e)
Notwithstanding any provision of this Agreement to the contrary, no termination of this Agreement will terminate Purchaser’s obligations pursuant to this Section 5.2. 
 Section 5.3 Entry and Inspection Obligations. 
 (a) Purchaser agrees that in entering upon and inspecting or examining the Property and communicating with any Tenants, Purchaser and the
other Licensee Parties will not: unreasonably disturb the Tenants or interfere with their use of the Property pursuant to their respective Tenant Leases; unreasonably interfere with the operation and maintenance of the Property; damage any part of
the Property or any personal property owned or held by any 

  

 15 

 
Tenant or any other person or entity; injure or otherwise cause bodily harm to Seller or any Tenant, or to any of their respective agents, guests, invitees,
contractors and employees; permit any liens to attach to the Property by reason of the exercise of Purchaser’s rights under this Article V; communicate with the Tenants or service providers except as provided in this Article V; or reveal or
disclose any information obtained concerning the Property and the Documents to anyone outside Purchaser’s organization, except in accordance with the confidentiality standards set forth in Section 5.2(b) and Article XII. Purchaser will:
(i) maintain and cause those entering the Property to maintain comprehensive general liability (occurrence) insurance in terms (including contractual indemnity coverage with respect to the indemnity in Section 5.3(b)) and amounts (not to
exceed $1,000,000) reasonably satisfactory to Seller covering any accident arising in connection with the presence or activities of Purchaser or the other Licensee Parties on the Property, and deliver to Seller a certificate of insurance verifying
such coverage and Seller being named as an additional insured on such coverage prior to entry upon the Property; (ii) promptly pay when due the costs of all inspections, entries, samplings and tests and examinations done on behalf of Purchaser
with regard to the Property; and (iii) promptly restore the Property to substantially its condition as existed immediately prior to any such inspection, investigations, examinations, entries, samplings and tests, but in no event later than
thirty (30) days after the damage occurs. Nothing contained in this Section 5.3 shall be deemed or construed as Seller’s consent to any further physical testing or sampling with respect to the Property after the date hereof.

 (b) Purchaser hereby indemnifies, defends and holds Seller and its members, partners, agents, officers, directors,
employees, successors, assigns and Affiliates harmless from and against any and all liens, claims, causes of action, damages, liabilities, demands, suits, and obligations, together with all losses, penalties, costs and expenses relating to any of
the foregoing (including but not limited to court costs and reasonable attorneys’ and consultants’ fees) arising out of any inspections, investigations, examinations, entries, samplings or tests conducted by Purchaser or any Licensee
Party, whether prior to or after the date hereof, with respect to the Property or any violation of the provisions of this Section 5.3; provided, however, that notwithstanding any provision of this Agreement to the contrary, (i) the
foregoing indemnity shall not apply to any loss, expenses (including, but not limited to, reasonable attorneys’ and consultants’ fees and court costs), damage and liability suffered by Seller, its Affiliates and related parties, to the
extent the same shall result from (a) the gross negligence or willful misconduct of Seller, or any of Seller’s agents, employees, representatives or contractors, or (b) the mere discovery of any pre-existing defective or hazardous
condition at the Property. 
 (c) Notwithstanding any provision of this Agreement to the contrary, neither the Closing nor a
termination of this Agreement will terminate Purchaser’s obligations pursuant to this Section 5.3. 
 Section 5.4
Right of Termination. Purchaser may terminate this Agreement by delivering written notice of such termination to Seller before 5:00 p.m. (Atlanta, Georgia local time) on the Inspection Date. A timely termination by RT
Deerfield II, LLC under Section 13.4 of the Deerfield Commons II Agreement shall be deemed to be a termination of this Agreement under this Section 5.4, and a timely termination of this Agreement under this Section 5.4 shall be
deemed to be a termination of the Deerfield Commons II Agreement under Section 13.4 thereof. If Purchaser gives timely notice of termination to Seller, then the Escrow Agent shall refund the 

  

 16 

 
Earnest Money Deposit to Purchaser. Upon such refund and disbursement of the Earnest Money Deposit, this Agreement shall terminate and the parties to this
Agreement shall have no further rights, duties or obligations under this Agreement, except for any obligations specifically set forth herein to survive termination of this Agreement. 
 Section 5.5 Sale “As Is”. THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT HAS BEEN NEGOTIATED BETWEEN SELLER AND PURCHASER,
THIS AGREEMENT REFLECTS THE MUTUAL AGREEMENT OF SELLER AND PURCHASER, AND PURCHASER HAS CONDUCTED ITS OWN INDEPENDENT EXAMINATION OF THE PROPERTY. OTHER THAN THE SPECIFIC MATTERS REPRESENTED IN SECTION 8.1 HEREOF (AS LIMITED BY SECTION 16.1 OF THIS
AGREEMENT), BY WHICH ALL OF THE FOLLOWING PROVISIONS OF THIS SECTION 5.5 ARE LIMITED, AND FOR THE REPRESENTATIONS AND WARRANTIES OF SELLER CONTAINED IN THE DOCUMENTS DELIVERED BY SELLER AT THE CLOSING, PURCHASER HAS NOT RELIED UPON AND WILL NOT RELY
UPON, EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION OR WARRANTY OF SELLER OR ANY OF SELLER’S AFFILIATES, AGENTS OR REPRESENTATIVES, AND PURCHASER HEREBY ACKNOWLEDGES THAT NO SUCH REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE. EXCEPT AS SET
FORTH IN THIS AGREEMENT OR IN THE DOCUMENTS DELIVERED BY SELLER AT THE CLOSING, SELLER SPECIFICALLY DISCLAIMS, AND NEITHER IT NOR ANY OF ITS AFFILIATES NOR ANY OTHER PERSON IS MAKING, ANY REPRESENTATION, WARRANTY OR ASSURANCE WHATSOEVER TO PURCHASER
AND NO WARRANTIES OR REPRESENTATIONS OF ANY KIND OR CHARACTER, EITHER EXPRESS OR IMPLIED, ARE MADE BY SELLER OR RELIED UPON BY PURCHASER WITH RESPECT TO THE STATUS OF TITLE TO OR THE MAINTENANCE, REPAIR, CONDITION, DESIGN OR MARKETABILITY OF THE
PROPERTY, OR ANY PORTION THEREOF, INCLUDING BUT NOT LIMITED TO (a) ANY IMPLIED OR EXPRESS WARRANTY OF MERCHANTABILITY, (b) ANY IMPLIED OR EXPRESS WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, (c) ANY IMPLIED OR EXPRESS WARRANTY OF
CONFORMITY TO MODELS OR SAMPLES OF MATERIALS, (d) ANY RIGHTS OF PURCHASER UNDER APPROPRIATE STATUTES TO CLAIM DIMINUTION OF CONSIDERATION, (e) ANY CLAIM BY PURCHASER FOR DAMAGES BECAUSE OF DEFECTS, WHETHER KNOWN, OR UNKNOWN, OR LATENT,
WITH RESPECT TO THE REAL PROPERTY, IMPROVEMENTS OR THE PERSONAL PROPERTY, (f) THE FINANCIAL CONDITION OR PROSPECTS OF THE PROPERTY OR THE TENANTS AND (g) THE COMPLIANCE OR LACK THEREOF OF THE REAL PROPERTY OR THE IMPROVEMENTS WITH
GOVERNMENTAL REGULATIONS, IT BEING THE EXPRESS INTENTION OF SELLER AND PURCHASER THAT, EXCEPT AS EXPRESSLY SET FORTH TO THE CONTRARY IN SECTION 8.1 OF THIS AGREEMENT (AS LIMITED BY SECTION 16.1 OF THIS AGREEMENT) OR IN THE DOCUMENTS DELIVERED BY
SELLER AT THE CLOSING, THE PROPERTY WILL BE CONVEYED AND TRANSFERRED TO PURCHASER IN ITS PRESENT CONDITION AND STATE OF REPAIR, “AS IS” AND “WHERE IS”, WITH ALL FAULTS. Purchaser represents that it is a knowledgeable, experienced
and sophisticated purchaser of real estate, and that it is relying solely on its own expertise and that of Purchaser’s consultants in purchasing the Property. Prior to the expiration of the Inspection Period, Purchaser will have conducted such
inspections, investigations and other independent examinations of the Property and related matters as 

  

 17 

 
Purchaser deems necessary, including but not limited to the physical and environmental conditions thereof, and will rely upon same and not upon any
statements of Seller (excluding the limited specific matters represented by Seller in Section 8.1 hereof as limited by Section 16.1 of this Agreement) and in the documents delivered by Seller at the Closing, or of any Affiliate, officer,
director, employee, agent or attorney of Seller. Purchaser acknowledges that all information obtained by Purchaser was obtained from a variety of sources and Seller will not be deemed to have represented or warranted the completeness, truth or
accuracy of any of the Documents or other such information heretofore or hereafter furnished to Purchaser. Upon Closing, Purchaser will assume the risk that adverse matters, including, but not limited to, adverse physical and environmental
conditions, may not have been revealed by Purchaser’s inspections and investigations. Upon Closing, Purchaser further hereby assumes the risk of changes in applicable Environmental Laws relating to past, present and future environmental health
conditions on, or resulting from the ownership or operation of, the Property. Purchaser acknowledges and agrees that upon Closing, Seller will sell and convey to Purchaser, and Purchaser will accept the Property, “AS IS, WHERE IS,” with
all faults. Purchaser further acknowledges and agrees that there are no oral agreements, warranties or representations, collateral to or affecting the Property, by Seller, an Affiliate of Seller, any agent of Seller or any third party. Seller is not
liable or bound in any manner by any oral or written statements, representations or information pertaining to the Property furnished by any real estate broker, agent, employee, servant or other person, unless the same are specifically set forth or
referred to herein. Except for the representations and warranties of Seller contained in this Agreement and the documents delivered by Seller at the Closing, Purchaser acknowledges that the Purchase Price reflects the “AS IS, WHERE IS”
nature of this sale and any faults, liabilities, defects or other adverse matters that may be associated with the Property. Purchaser, with Purchaser’s counsel, has fully reviewed the disclaimers and waivers set forth in this Agreement, and
understands the significance and effect thereof. Purchaser acknowledges and agrees that the disclaimers and other agreements set forth herein are an integral part of this Agreement, and that Seller would not have agreed to sell the Property to
Purchaser for the Purchase Price without the disclaimer and other agreements set forth in this Agreement. The terms and conditions of this Section 5.5 will expressly survive the Closing and will not merge with the provisions of any closing
documents. 
 ______________ 
 Purchaser Initials 
 Section 5.6 Purchaser’s Release of Seller. 
 (a) Seller Released From Liability. Purchaser, on behalf of itself and its partners, officers, directors, agents, controlling
persons and Affiliates, hereby releases Seller and Seller’s Affiliates from any and all liability, responsibility, causes of action, claims or demands, whether direct or indirect, known or unknown, accrued or contingent, arising out of or
related to the condition (including the presence in the soil, air, structures and surface and subsurface waters, of Hazardous Substances that have been or may in the future be determined to be toxic, hazardous, undesirable or subject to regulation
and that may need to be specially treated, handled and/or removed from the Property under current or future federal, state and local laws, regulations or guidelines), valuation, salability or utility of the Property, or its suitability for any
purpose whatsoever except to the extent that such responsibility or liability is the result of the 

  

 18 

 
material inaccuracy (if any) of Seller’s representation under Section 8.1(j) hereof (as limited by Section 16.1 of this Agreement). Without
limiting the foregoing, Purchaser specifically releases Seller and Seller’s Affiliates from any claims Purchaser may have against Seller and/or Seller’s Affiliates now or in the future arising from the environmental, health or safety
condition of the Property or the presence of Hazardous Substances or contamination on or emanating from the Property, except any claim arising under Section 8.1(j) hereof. The foregoing waivers and releases by Purchaser shall survive either
(i) the Closing and shall not be deemed merged into the provisions of any closing documents, or (ii) any termination of this Agreement. 
 ______________ 
 Purchaser Initials 
 (b) Purchaser’s Waiver of Objections. Purchaser acknowledges that on or before the Inspection Date, Purchaser will have has inspected the Property, observed its physical characteristics and existing
conditions and had the opportunity to conduct such investigations and studies on and off said Property and adjacent areas as it deems necessary, and subject only to Seller’s responsibility for any breach of the warranty and representation
contained in Section 8.1(j) of this Agreement (as limited by Section 16.1 of this Agreement), Purchaser hereby waives any and all objections to or complaints (including but not limited to actions based on federal, state or common law and
any private right of action under CERCLA, RCRA or any other state and federal law to which the Property is or may be subject) against Seller, its Affiliates, or their respective officers, directors, partners, members, owners, employees or agents
regarding physical characteristics and existing conditions, including without limitation structural and geologic conditions, subsurface soil and water conditions and solid and hazardous waste and Hazardous Substances on, under, adjacent to or
otherwise affecting the Property or related to prior uses of the Property. 
 (c) Assumption of Risk. Except for the
matters contained in Seller’s representation under Section 8.1(j), Purchaser further hereby assumes the risk of changes in applicable laws and regulations relating to past, present and future environmental, safety or health conditions on,
or resulting from the ownership or operation of, the Property, and the risk that adverse physical characteristics and conditions, including without limitation the presence of Hazardous Substances or other substances, may not be revealed by its
investigation. 
 ______________ 
 Purchaser Initials 
 (d) Survival. The provisions of this Section 5.6 shall survive either (i) the
Closing and shall not be deemed merged into the provisions of any closing documents, or (ii) any termination of this Agreement. 
 ARTICLE VI 
 TITLE AND SURVEY MATTERS 
 Section 6.1 Survey. On or before the execution and delivery of this Agreement, Seller has delivered to Purchaser a copy of that
certain ALTA/ACSM survey of the Real Property, 

  

 19 

 
dated March 30, 2005, last revised April 20, 2005, prepared by Frontline Surveying & Mapping, Inc. (the “Existing
Survey”). Seller shall have no obligation to obtain any modification, update, or recertification of the Existing Survey. 
 Section 6.2 Title Commitment. 
 (a) Prior to the execution and delivery hereof, Seller has
caused the Escrow Agent, as agent for the Title Company, to furnish to Purchaser a preliminary title report or title commitment dated February 8, 2005 at 5 p.m. (the “Commitment”), by the terms of which the Title Company agrees
to issue to Purchaser at Closing an owner’s policy of title insurance (the “Title Policy”) in the amount of the Purchase Price on the ALTA Owner Policy of Title Insurance with extended coverage, Standard Form Rev. 10/17/92 (as
amended to date) insuring Purchaser’s fee simple title to the Real Property to be good and indefeasible, subject to the terms of such policy and the exceptions described therein. Subject to Section 6.2(b) and to those matters specified in
Exhibit M attached hereto, all matters shown on the Existing Survey and exceptions listed in the Commitment are conclusively deemed to be acceptable to Purchaser. The term “Permitted Exceptions” means taxes and
assessments for the year of Closing and for any other year if not yet due and payable as of Closing and all matters either shown on the Existing Survey or listed in the Commitment, except for the matters specified in Exhibit M
attached hereto. The Title Policy may be delivered after Closing if at the Closing the Title Company issues a currently effective, duly executed “marked up” Commitment and irrevocably commits in writing to issue the Title Policy in the
form of the “marked up” Commitment promptly after the Closing Date. 
 (b) Notwithstanding any provision of this
Section 6.2 to the contrary, Seller will be obligated to cure exceptions to title to the Real Property and Improvements relating to (or, as to (ii), cure or cause deletion from the Title Policy) (i) liens and security interests securing
any loan to Seller or arising from any goods or material ordered on behalf of Seller, and (ii) any other liens or security interests created by documents assumed or executed by Seller to secure monetary obligations, other than liens for ad
valorem taxes and assessments. 
 ARTICLE VII 
 INTERIM OPERATING COVENANTS AND ESTOPPELS 
 Section 7.1 Interim Operating
Covenants. Seller covenants to Purchaser that Seller will: 
 (a) Operations. From the Effective Date until
Closing, continue to operate, manage and maintain the Improvements in the ordinary course of Seller’s business and substantially in accordance with Seller’s present practice, subject to ordinary wear and tear and further subject to Article
IX of this Agreement. Without limiting the generality of the foregoing, Seller shall perform and comply with and use commercially reasonable efforts to cause the Tenants to perform and comply with the provisions of the Tenant Leases. In addition,
Seller shall not grant any additional easements or restrictions encumbering the Real Property without Purchaser’s prior written consent. 
  

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 (b) Maintain Insurance. From the Effective Date until Closing, maintain fire and
extended coverage insurance on the Improvements which is at least equivalent in all material respects to Seller’s insurance policies covering the Improvements as of the Effective Date. 
 (c) Personal Property. From the Effective Date until Closing, not transfer or remove any Personal Property from the Improvements
except for the purpose of repair or replacement thereof. Any items of Personal Property replaced after the Effective Date will be installed prior to Closing and will be of substantially similar quality and utility of the item of Personal Property
being replaced. 
 (d) Comply with Governmental Regulations. From the Effective Date until Closing, comply with in all
material respects with all Governmental Regulations applicable to the Property, it being understood and agreed that prior to Closing, Seller will have the right to contest any such Governmental Regulations, provided that any such contest is
conducted in accordance with Governmental Regulations and Seller has posted any security or bond required in connection therewith. 
 (e) Leases. From the Effective Date until Closing, not enter into any new lease or any amendments, expansions or renewals of Tenant Leases without the prior written consent of Purchaser, which consent will not be unreasonably
withheld, delayed or conditioned, and will be deemed given unless written objection thereto is given within two (2) Business Days after receipt of all the relevant information and documentation. Furthermore, nothing herein shall be deemed to
require Purchaser’s consent to any expansion or renewal which Landlord is required to honor pursuant to the provisions of any existing Tenant Lease. 
 (f) Service Contracts. From the Effective Date until Closing, not enter into any service contract other than in the ordinary course of business, unless such service contract is terminable on thirty
(30) days notice without penalty or unless Purchaser consents thereto in writing, which approval will not be unreasonably withheld, delayed or conditioned. 
 (g) Notices. To the extent received or given by Seller, from the Effective Date until Closing, promptly deliver to Purchaser copies
of written default notices, notices of lawsuits and claims and notices of violations affecting the Property. 
 Section 7.2
Estoppels. 
 (a) It will be a condition to Closing that Seller obtain and deliver to Purchaser, from the major
tenants listed on Exhibit D-1 (“Major Tenants”) and other Tenants leasing space which when added to the Major Tenants aggregates at least 80% of the leased space at the Improvements, executed estoppel certificates,
with no material modifications from the estoppel certificate form attached hereto as Exhibit D-2; provided, however, (i) to the extent that the form as so completed requires information not required of a Tenant under the
provisions of its Tenant Lease, Seller will exercise good faith efforts to obtain an estoppel certificate for such Tenant in the form completed as provided below, or in a form as close thereto as reasonably possible, but in any event an estoppel
certificate executed by a Tenant in the form prescribed by its Tenant Lease shall satisfy the requirement of this Section 7.2(a), and (ii) Purchaser will not unreasonably withhold approval of any estoppel certificate as modified by a
Tenant and 

  

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delivered by Seller to Purchaser, provided that the information included in such estoppel is not inconsistent with the information included in the estoppel
form completed for such Tenant pursuant to the below provisions of this Section 7.2(a). Notwithstanding anything contained herein to the contrary, in no event shall Seller’s failure to obtain the required number of acceptable estoppel
certificates in accordance with the provisions of this Section 7.2(a) constitute a default by Seller under this Agreement. 
 (b) Seller, at its sole option, may elect to satisfy the requirements of Section 7.2(a) by delivering a representation certificate of Seller in the form attached hereto as Exhibit E (a “Seller
Certificate”). If Seller subsequently obtains an estoppel certificate meeting the requirements of Section 7.2(a) hereof, from a Tenant for which Seller has delivered a Seller Certificate, the delivered Seller Certificate will be null
and void, and Purchaser will accept such estoppel certificate in its place. The foregoing provision does not apply to any of the Major Tenants or to any other Tenants leasing, individually or in the aggregate, twenty percent (20%) or more of
the leased rentable square feet of the Improvements. 
 ARTICLE VIII 
 REPRESENTATIONS AND WARRANTIES 
 Section 8.1 Seller’s
Representations and Warranties. Subject to the limitations set forth in Article XVI of this Agreement, Seller represents and warrants to Purchaser the following as of the Effective Date: 
 (a) Status. Seller is a limited liability company duly organized and validly existing under the laws of the State of Delaware, and
is qualified to do business in the State of Georgia. 
 (b) Authority. The execution and delivery of this Agreement and
the performance of Seller’s obligations hereunder have been or will be duly authorized by all necessary action on the part of Seller, and this Agreement constitutes the legal, valid and binding obligation of Seller, subject to equitable
principles and principles governing creditors’ rights generally. All consents required under Seller’s limited liability company agreement for the execution and delivery of this Agreement will be obtained by the Closing Date. 
 (c) Non-Contravention. The execution and delivery of this Agreement by Seller and the performance by Seller of Seller’s
obligations under this Agreement will not violate any judgment, order, injunction, decree, regulation or ruling of any court or Authority or conflict with, result in a breach of, or constitute a default under the organizational documents of Seller,
any note or other evidence of indebtedness, any mortgage, deed of trust or indenture, or Permitted Exception or any lease or other material agreement or instrument to which Seller is a party or by which it is bound. 
 (d) Suits and Proceedings. Except as listed in Exhibit F, there are no legal actions, suits or similar proceedings
pending and served, or to Seller’s Knowledge, threatened against Seller relating to the Property or Seller’s ownership, development, construction, leasing or operation of the Property, which are not adequately covered by existing insurance
or, if adversely determined, would materially impair the value of the Property, the continued 

  

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operations thereof or Seller’s ability to perform Seller’s obligations under this Agreement or otherwise impose any monetary or performance
obligation on Purchaser or result in a taking of any portion of the Real Property. 
 (e) Non-Foreign Entity. Seller is
not a “foreign person” or “foreign corporation” as those terms are defined in the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. 
 (f) Tenant Leases. With respect to the Tenant Leases: 
 (i) The Schedule of Leases set forth on Exhibit G attached hereto, sets forth all of the Tenant Leases. There are no written
or oral leases or occupancy agreements affecting the Real Property or Improvements to which Seller is a party or bound with any parties other than the Tenants listed on Exhibit G; 
 (ii) True, accurate and complete copies of each Tenant Lease have either been delivered to Purchaser, or Seller has made same available to
Purchaser for its review and copying. Seller has not given any written notice of a default (or a requirement for the performance of any work, improvements or repairs) under any of the Tenant Leases that remains uncured or unfulfilled; 
 (iii) Except as provided in the Tenant Leases, Seller holds no other security deposit with respect to the Tenant Leases; and 

(iv) To Seller’s Knowledge, except as set forth on the Schedule of Leases or in the Documents delivered to Purchaser, no leasing,
broker’s or finder’s commissions are now due or will become due with respect to the current terms of any of the Tenant Leases. 
 (g) Service Contracts. Neither Seller nor, to Seller’s Knowledge, any of the service providers listed on Exhibit C is in default under any Service Contract. To Seller’s Knowledge, the
Documents made available to Purchaser pursuant to Section 5.2(a) hereof include true, accurate and complete copies of all Service Contracts listed on Exhibit C affecting any portion of the Property and for which Seller is
currently paying for services rendered in connection with the Property. 
 (h) No Violations. To Seller’s
Knowledge, Seller has not received any written notification from an Authority or the Declarant that the Real Property and Improvements or the current occupancy and use thereof is currently in violation of any applicable fire, health, building, use,
occupancy or zoning laws or the Master Declaration. 
 (i) Insurance. To Seller’s Knowledge, Seller has not
received any written notice from any insurance company or board of fire underwriters of any defects or inadequacies in or on the Improvements or any part or component thereof that would adversely affect the insurability of the Improvements or cause
any increase in the premiums for insurance for the Improvements or require the performance of any remedial work or improvements. 
  

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 (j) Environmental. Except as shown in any environmental reports covering the Real
Property and Improvements which have been made available to Purchaser pursuant to Section 5.2(a), to Seller’s Knowledge: 
 (i) Seller has not received any written notice, written claim or other written communication concerning (a) any violation of any Environmental Law at the Property, whether or not corrected to the satisfaction of the appropriate
Authorities, or (b) any alleged liability of Seller arising out of or related to the Property for the Release or threatened Release of a Hazardous Substance; 
 (ii) There has been no Release of any Hazardous Substances, to or from the Property in violation of Environmental Laws; 
 (iii) No underground storage tanks are or have ever been located on the Property; and 
 (iv) Except for those reports set forth on Exhibit O attached hereto, Seller has not commissioned any study relating to the
presence or absence of Hazardous Substances on the Property. 
 Section 8.2 Purchaser’s Representations and
Warranties. Purchaser represents and warrants to Seller the following: 
 (a) Status. Purchaser is a limited
liability company duly organized and validly existing under the laws of the State of Delaware. 
 (b) Authority. The
execution and delivery of this Agreement and the performance of Purchaser’s obligations hereunder have been or will be duly authorized by all necessary action on the part of Purchaser and its constituent owners and/or beneficiaries and this
Agreement constitutes the legal, valid and binding obligation of Purchaser, subject to equitable principles and principles governing creditors’ rights generally. All consents required under Purchaser’s limited liability company agreement
will be obtained by the Closing Date. 
 (c) Non-Contravention. The execution and delivery of this Agreement by
Purchaser and the consummation by Purchaser of the transactions contemplated hereby will not violate any judgment, order, injunction, decree, regulation or ruling of any court or Authority or conflict with, result in a breach of, or constitute a
default under the organizational documents of Purchaser, any note or other evidence of indebtedness, any mortgage, deed of trust or indenture, or any lease or other material agreement or instrument to which Purchaser is a party or by which it is
bound. 
 (d) Consents. No consent, waiver, approval or authorization is required from any person or entity (that will
not be obtained by the Closing Date) in connection with the execution and delivery of this Agreement by Purchaser or the performance by Purchaser of the transactions contemplated hereby. 
 (e) OFAC Compliance. Purchaser is in compliance with the requirements of Executive Order No. 133224, 66 Fed. Reg. 49079
(Sept. 25, 2001) (the “Order”) and other 

  

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similar requirements contained in the rules and regulations of the Office of Foreign Assets Control, Department of the Treasury (“OFAC”) and
in any enabling legislation or other Executive Orders or regulations in respect thereof (the Order and such other rules, regulations, legislation, or orders are collectively called the “Orders”). 
 (f) Lists. Neither Purchaser nor any beneficial owner of Purchaser: 
 (i) is listed on the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to the Order and/or on any other
list of terrorists or terrorist organizations maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Orders (such lists are collectively referred to as the “Lists”); 
 (ii) is a Person who has been determined by competent authority to be subject to the prohibitions contained in the Orders; or 

(iii) is owned or controlled by, or acts for or on behalf of, any Person on the Lists or any other Person who has been determined by
competent authority to be subject to the prohibitions contained in the Orders. 
 ARTICLE IX 
 CONDEMNATION AND CASUALTY 
 Section 9.1 Significant Casualty. If, prior to the Closing Date, all or a Significant Portion of the Real Property and Improvements is destroyed or damaged by fire or other casualty, Seller will notify Purchaser of such
casualty. Purchaser will have the option to terminate this Agreement upon notice to Seller given not later than ten (10) Business Days after receipt of Seller’s notice. If this Agreement is terminated, the Earnest Money Deposit will be
returned to Purchaser upon Purchaser’s compliance with Section 4.5 and thereafter neither Seller nor Purchaser will have any further rights or obligations to the other hereunder except with respect to the Termination Surviving Obligations.
If Purchaser does not elect to terminate this Agreement, Seller will not be obligated to repair such damage or destruction but (a) Seller will assign and turn over to Purchaser all of the insurance proceeds net of reasonable collection costs
incurred by Seller (or, if such have not been awarded, all of its right, title and interest therein) payable with respect to such fire or other casualty, and (b) the parties will proceed to Closing pursuant to the terms hereof without abatement
of the Purchase Price, except that Purchaser will receive a credit for the lesser of (i) any insurance deductible amount, or (ii) the cost of such repairs (other than repairs which are the express responsibility of Tenants under Tenant
Leases) as reasonably estimated by Seller. 
 Section 9.2 Casualty of Less Than a Significant Portion. If less than a
Significant Portion of the Real Property and Improvements is damaged as aforesaid, Purchaser shall not have the right to terminate this Agreement and Seller will not be obligated to repair such damage or destruction but (a) Seller will assign
and turn over to Purchaser all of the insurance proceeds net of reasonable collection costs (or, if such have not been awarded, all of its right, title and interest therein) payable with respect to such fire or other casualty, and (b) the
parties will proceed to Closing pursuant to the terms hereof without abatement of the Purchase Price, except 

  

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that Purchaser will receive a credit for the lesser of (i) any insurance deductible amount, or (ii) the cost of such repairs (other than repairs
which are the express responsibility of Tenants under Tenant Leases) as reasonably estimated by Seller. 
 Section 9.3
Condemnation of Property. In the event of condemnation or sale in lieu of condemnation of all or any portion of the Real Property and Improvements prior to the Closing, Purchaser will have the option, by providing Seller written notice
within ten (10) Business Days after receipt of Seller’s notice of such condemnation or sale, of terminating Purchaser’s obligations under this Agreement or electing to have this Agreement remain in full force and effect. In the event
Purchaser does not terminate this Agreement pursuant to the preceding sentence, Seller will assign to Purchaser any and all claims for the proceeds of such condemnation or sale to the extent the same are applicable to the Real Property and
Improvements, and Purchaser will take title to the Property with the assignment of such proceeds and subject to such condemnation and without reduction of the Purchase Price. Should Purchaser elect to terminate Purchaser’s obligations under
this Agreement under the provisions of this Section 9.3, the Earnest Money Deposit will be returned to Purchaser upon Purchaser’s compliance with Section 4.5 and neither Seller nor Purchaser will have any further obligation under this
Agreement except for the Termination Surviving Obligations. Notwithstanding anything to the contrary herein, if any eminent domain or condemnation proceeding is instituted (or notice of same is given) solely for the taking of any utility easements
or for any right-of-way easement that will not materially impair the use, value or operation of the Property, in Purchaser’s reasonable opinion, Purchaser will not be entitled to terminate this Agreement as to any part of the Property, but any
award resulting therefrom will be assigned to Purchaser at Closing and will be the exclusive property of Purchaser upon Closing. 
 ARTICLE
X 
 CLOSING 
 Section 10.1 Closing. The Closing of the sale of the Property by Seller to Purchaser will occur on the Closing Date through the escrow established with the Escrow Agent. At Closing, the events set forth in this Article
X will occur, it being understood that the performance or tender of performance of all matters set forth in this Article X are mutually concurrent conditions which may be waived by the party for whose benefit they are intended. In no event will
Seller be obligated to consummate the transactions contemplated by this Agreement unless Purchaser consummates the transactions contemplated under the Deerfield Commons II Agreement. 
 Section 10.2 Purchaser’s Closing Obligations. At least one (1) Business Day prior to the Closing Date, Purchaser, at its
sole cost and expense, will deliver the following items in escrow with the Escrow Agent pursuant to Section 4.3, for delivery to Seller at Closing as provided herein: 
 (a) The Purchase Price, after all adjustments are made at the Closing as herein provided, by Federal Reserve wire transfer of immediately
available funds, in accordance with the timing and other requirements of Section 3.3; 
  

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 (b) A counterpart of the General Conveyance, Bill of Sale, and Assignment and Assumption
in the form attached hereto as Exhibit I (the “General Conveyance”) duly executed by Purchaser; 
 (c) Evidence reasonably satisfactory to Seller that the person executing the Closing documents on behalf of Purchaser has full right, power, and authority to do so; 
 (d) The Tenant Notice Letters, duly executed by Purchaser; 
 (e) A counterpart of any required State, County or Municipal transfer declaration forms; 
 (f) A counterpart of each escrow agreement contemplated by Section 10.4(f) duly executed by Purchaser; and 
 (g) Such other documents as may be reasonably necessary or appropriate to effect the consummation of the transactions which are the
subject of this Agreement. 
 Section 10.3 Seller’s Closing Obligations. Seller, at its sole cost and expense, will
deliver (y) the following items (a), (b), (c), (d), (e), (f), (g), (i), (l), (m), (n), (o), (p) and (q) in escrow with the Escrow Agent pursuant to Section 4.3, and (z) upon receipt of the Purchase Price, Seller shall
deliver the following items (h), (j) and (k) to Purchaser at the Property: 
 (a) A limited warranty deed in the
form attached hereto as Exhibit J (the “Deed”), duly executed and acknowledged by Seller conveying to Purchaser the Real Property and the Improvements subject only to the Permitted Exceptions and a restrictive covenant
prohibiting Purchaser from disturbing the Tree Preservation Area and more particularly described on Exhibit H, which Deed shall be delivered to Purchaser by the Escrow Agent having received the same from Seller and agreeing with the
Purchaser to cause same to be recorded in the Official Records and which Deed shall be accompanied by any State, County or Municipal transfer declaration forms required of Seller; 
 (b) The General Conveyance duly executed by Seller; 
 (c) The Tenant Notice Letters, duly executed by Seller; 
 (d) Evidence reasonably satisfactory to Title Company and Purchaser that the person executing the Closing documents on behalf of Seller
has full right, power and authority to do so; 
 (e) A certificate in the form attached hereto as Exhibit K
(“Certificate as to Foreign Status”) certifying that Seller is not a “foreign person” as defined in Section 1445 of the Internal Revenue Code of 1986, as amended; 
 (f) The Tenant Deposits, at Seller’s option, either (i) in the form of a cashier’s check issued by a bank reasonably
acceptable to Purchaser, or (ii) as part of an adjustment to the Purchase Price. In the event the Tenant Deposits are in the form of a letter of credit, then Seller shall deliver at Closing the original letter(s) of credit, together with
documentation sufficient to 

  

 27 

 
cause the letter(s) of credit to be assigned to Purchaser upon approval thereof by the issuer of the letter(s) of credit; 
 (g) A certification meeting the requirements of O.C.G.A. Section 48-7-128 relating to the withholding of income tax in the State of
Georgia. 
 (h) The Personal Property; 
 (i) The Rent Roll, updated to show any changes, to Seller’s Knowledge, as of the Closing Date (which shall be deemed a part of the
Documents for purposes of this Agreement); 
 (j) All original Licenses and Permits, Tenant Leases, and Service Contracts and
the items specified in Section 2.1(g) in Seller’s possession and control; 
 (k) All keys to the Improvements which
are in Seller’s possession or control; 
 (l) A counterpart of any required State, County or Municipal transfer
declaration forms; 
 (m) A counterpart of each escrow agreement contemplated by Section 10.4(f) duly executed by Seller;

 (n) Customary affidavits allowing the Title Company to delete from the Title Policy any exceptions for (i) the
“gap”, (ii) parties in possession (other than Tenants under Tenant Leases), (iii) mechanic’s or materialmen’s liens arising out of Seller’s failure to pay for work commissioned by Seller and done on or about the
Real Property or Improvements prior to the Closing Date and (iv) the other title matters specified in Item 2 of Exhibit M attached hereto; 
 (o) To the extent not previously delivered and to the extent received by Seller, originals of the executed tenant estoppel certificates provided for in Section 7.2; 
 (p) A “bring down” certificate with respect to the representations and warranties of Seller set forth in Section 8.1;

 (q) A certificate from the Declarant, dated as of the Closing Date, indicating that (i) no fees or assessments levied
pursuant to the Master Declaration are unpaid, (ii) the Real Property and Improvements are not subject to any special assessments, charges or liens, (iii) the Real Property and Improvements and the present use and operation thereof are in
full compliance with the requirements of the Master Declaration and (iv) any right of first refusal or first offer under the Master Declaration has been waived; and 
 (r) Such other documents as may be reasonably necessary or appropriate to effect the consummation of the transactions which are the
subject of this Agreement. 
  

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 Section 10.4 Prorations. 
 (a) Seller and Purchaser agree to adjust, as of 11:59 p.m. on the day immediately preceding the Closing Date (the “Closing
Time”), the following (collectively, the “Proration Items”): real estate and personal property taxes and assessments which are required to be paid for the fiscal period in which the Closing occurs, utility bills (except as
hereinafter provided), collected Rentals (subject to the terms of (c) below) and operating expenses payable by the owner of the Property. Seller will be charged and credited for the amounts of all of the Proration Items relating to the period
up to and including the Closing Time, and Purchaser will be charged and credited for all of the Proration Items relating to the period after the Closing Time. Such preliminary estimated Closing prorations shall be set forth on a preliminary closing
statement to be prepared by Seller and submitted to Purchaser for Purchaser’s approval (which approval shall not be unreasonably withheld, delayed or conditioned) five (5) Business Days prior to the Closing Date (the “Closing
Statement”). The Closing Statement, once agreed upon, shall be signed by Purchaser and Seller and delivered to the Escrow Agent for purposes of making the preliminary proration adjustment at Closing subject to the final cash settlement
provided for below. The preliminary proration shall be paid at Closing by Purchaser to Seller (if the preliminary prorations result in a net credit to Seller) or by Seller to Purchaser (if the preliminary prorations result in a net credit to
Purchaser) by increasing or reducing the cash to be delivered by Purchaser in payment of the Purchase Price at the Closing. If the actual amounts of the Proration Items are not known as of the Closing Time, the prorations will be made at Closing on
the basis of the best evidence then available; thereafter, when actual figures are received, re-prorations will be made on the basis of the actual figures, and a final cash settlement will be made between Seller and Purchaser. No prorations will be
made in relation to insurance premiums (except to the extent covered by the proration of Operating Expense Recoveries), and Seller’s insurance policies will not be assigned to Purchaser. Final readings and final billings for utilities will be
made if possible as of the Closing Time, in which event no proration will be made at the Closing with respect to utility bills (except to the extent covered by the proration of Operating Expense Recoveries). Seller will be entitled to all deposits
presently in effect with the utility providers, and Purchaser will be obligated to make its own arrangements for deposits with the utility providers. A final reconciliation of Proration Items shall be made by Purchaser and Seller within six
(6) months after Closing. The provisions of this Section 10.4 (excluding subsection (e) which is governed by Section 3.2(a) above) will survive the Closing for twelve (12) months. 
 (b) Purchaser will receive a credit on the Closing Statement for the prorated amount (as of the Closing Time) of all Rentals previously
paid to and collected by Seller and attributable to any period following the Closing Time. After the Closing, Seller will cause to be paid or turned over to Purchaser all Rentals, if any, received by Seller after Closing and properly attributable to
any period following the Closing Time. “Rentals” as used herein includes fixed monthly rentals, additional rentals, percentage rentals, escalation rentals (which include each Tenant’s proportionate share of building operation
and maintenance costs and expenses as provided for under the applicable Tenant Lease, to the extent the same exceeds any expense stop specified in such Tenant Lease), retroactive rentals, all administrative charges, utility charges, tenant or real
property association dues, storage rentals, special event proceeds, temporary rents, telephone receipts, locker rentals, vending machine receipts and other sums and charges payable to Seller or its successor by Tenants under the Tenant Leases or
from other occupants or users of 

  

 29 

 
the Property, excluding specific tenant billings which are governed by Section 10.4(d) below. Rentals are “Delinquent” if they were due
prior to the Closing Time and payment thereof has not been made on or before the Closing Time. Delinquent Rentals will not be prorated. Purchaser agrees to use good faith collection procedures with respect to the collection of any Delinquent
Rentals, but Purchaser will have no liability for the failure to collect any such amounts and will not be required to conduct lock-outs or take any other legal action to enforce collection of any such amounts owed to Seller by Tenants of the
Property. All sums collected by Purchaser from and after Closing from each Tenant (excluding Tenant payments for Operating Expense Recoveries attributable to the period prior to the Closing Time governed by Section 10.4(c) below and tenant
specific billings for tenant work orders and other specific services as described in and governed by Section 10.4(d) below) will be applied first to current amounts owed by such Tenant to Purchaser, then to any rent arrearages for time periods
after the Closing Date and then to prior delinquencies owed by such Tenant to Seller. Any sums collected by Purchaser and due Seller will be promptly remitted to Seller. Notwithstanding the foregoing, however, if not collected by Purchaser after
good faith efforts, after the Closing Date Seller may collect Delinquent Rentals, amounts owed for Operating Expense Recoveries and billings for tenant work orders directly from Tenants, provided, however, in no event will Seller have the right to
threaten termination of any Tenant Lease. 
 (c) Seller will prepare a reconciliation as of the Closing Time of the amounts of
all billings and charges for operating expenses and taxes in excess of the applicable expense stop, if any, specified in each Tenant Lease (collectively, “Operating Expense Recoveries”) for calendar year 2005. If less amounts
have been collected from Tenants for Operating Expense Recoveries for calendar year 2005 than would have been owed by Tenants under the Tenant Leases if the reconciliations under such Tenant Leases were completed as of the Closing Time based on the
operating expenses and taxes incurred by Seller for calendar year 2005 up to the Closing Time (as prorated pursuant to Section 10.4(a) above), Purchaser will pay such difference to Seller at Closing as an addition to the Purchase Price. If more
amounts have been collected from Tenants for Operating Expense Recoveries for calendar year 2005 than would have been owed by Tenants under the Tenant Leases if the reconciliations under such Tenant Leases were completed as of the Closing Time based
on the operating expenses and taxes incurred by Seller for calendar year 2005 up to the Closing Time (as prorated pursuant to Section 10.4(a) above), Seller will pay to Purchaser at Closing as a credit against the Purchase Price such excess
collected amount. Purchaser and Seller agree that such proration of Operating Expense Recoveries at Closing for calendar year 2005 will fully relieve Seller from any responsibility to Tenants or Purchaser for such matters subject to
Seller’s and Purchaser’s right and obligation to finalize prorations within one hundred eighty (180) days after Closing solely to make adjustments necessary to the extent estimates used in the calculation of such reconciliation at
Closing differ from actual bills received after Closing for those items covered by such reconciliation at Closing or to correct any errors. In this regard, Purchaser will be solely responsible, from and after Closing, for (i) collecting from
Tenants the amount of any outstanding Operating Expense Recoveries for calendar year 2005 for periods before and after Closing, and (ii) where appropriate, reimbursing Tenants for amounts attributable to Operating Expense Recoveries for
calendar year 2005, as may be necessary based on annual reconciliations for Operating Expense Recoveries for such calendar year. 
  

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 (d) With respect to specific tenant billings for work orders, special items performed or
provided at the request of a given Tenant or other specific services, which are collected by Purchaser or Seller after the Closing Time but relate to any such specific services rendered by Seller or its property manager prior to the Closing Time and
which are identified on the Tenant’s payment as relating to such specific services or which are clearly identifiable as being payment for any such specific services, Purchaser shall cause such collected amounts to be paid to Seller, or Seller
may retain such payment if such payment is received by Seller after the Closing Time. 
 (e) At Closing, Purchaser shall
receive a credit against the Purchase Price equal to (i) the amount as of Closing of unpaid tenant improvement allowances for the initial build-out of expansion space for The McGraw-Hill Companies, Inc. and (ii) the amount of unpaid
commissions due upon initial occupancy of the expansion space under that certain Second Amendment to Lease dated February 17, 2005, between Seller and Southeast Division, Inc. (the “Southeast Division Amendment”), and that
certain First Amendment to Lease dated February 16, 2005, between Seller and The McGraw-Hill Companies, Inc (the “McGraw-Hill Amendment”). Except as provided in this Section 10.4(e) and in Sections 10.4(f) and
(g) below, notwithstanding any provision of this Section 10.4 to the contrary, Purchaser will be solely responsible for all leasing commissions, brokerage commissions, tenant improvement allowances, legal fees and other expenditures
incurred in connection with the lease of space in the Property (“Leasing Costs”) to the extent unpaid as of the Closing Date and becoming due and payable after Closing under or with respect to Tenant Leases entered into prior to the
Effective Date, including, without limitation, Leasing Costs pertaining to amendments, modifications, expansions, extensions, renewals of, or failure to exercise termination options under, Tenant Leases becoming effective after the Effective Date.
Subject to any approval rights which Purchaser may have pursuant to Section 7.1(e) of this Agreement, Purchaser further agrees to be solely responsible for all Leasing Costs (for purposes of this Section 10.4(e), “New Tenant
Costs”) incurred or to be incurred in connection with any new Tenant Lease executed on or after the Effective Date in compliance with Section 7.1(e), and Purchaser will pay to Seller at Closing as an addition to the Purchase Price an
amount equal to any New Tenant Costs paid by Seller prior to Closing. Notwithstanding anything herein to the contrary, all tenant improvement allowances for the initial build-out of expansion space under the McGraw-Hill Amendment and the Southeast
Division Amendment will be paid by Seller when due in accordance with the applicable Tenant Lease, whether from the escrow described in Section 10.4(f) or other funds of Seller (the provisions of this sentence shall survive the Closing).

 (f) At Closing, Purchaser and Seller shall enter into an escrow agreement concerning the unpaid tenant improvement
allowance for the initial build-out of expansion space for Southeast Division, Inc. Under such escrow agreement, Seller shall escrow the amount of One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) plus funds equal to the unpaid tenant
improvement allowance as of Closing with respect to the Southeast Division Amendment. Seller shall be permitted to use such escrow to fund tenant improvement costs and to pay costs of disassembly, moving and reassembly, as provided for in such
amendment. In addition, any unused funds in such escrow remaining after completion of such tenant improvements and payment of costs of disassembly, moving and reassembly shall be returned to Seller. 
  

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 (g) Southeast Division, Inc., a current tenant at the Property, is currently expanding
its existing premises and Seller is building out such expansion space in accordance with the Southeast Division Amendment. If “substantial completion” of the Suite 450 Expansion Space and the Suite 330 Expansion Space (as each such term is
defined in the Tenant Lease of Southeast Division, Inc.) has not occurred by Closing, then for each such day after the Closing Date until substantial completion has occurred, Seller shall pay to Purchaser for such period, on a monthly basis, the
incremental difference in the Base Rental and Tenant Additional Rental for the Premises that would have been paid during such period if substantial completion had occurred less the actual Base Rental and Tenant Additional Rental accruing
during such period. In all events Seller shall be responsible (without reimbursement from Purchaser) for performing the obligations of the landlord under the terms of Section 6 of the Southeast Division Amendment, and Seller shall be entitled
to use the escrow established for the Southeast Division Amendment in Section 10.4(f) to satisfy such obligations. This Section 10.4(g) shall survive Closing. 
 (h) The McGraw-Hill Companies, Inc., a current tenant at the Property, is currently expanding its existing premises and building out such
expansion space. If “substantial completion” of the Tenant Improvements to the HCA Expansion Space (as each such term is defined in the McGraw-Hill Amendment) has not occurred by Closing, then for each such day after the Closing Date until
substantial completion has occurred, Seller shall pay to Purchaser for such period, on a monthly basis, the incremental difference in the Base Rental and Tenant Additional Rent for the Premises that would have been paid during such period if
substantial completion had occurred less the actual Base Rental and Tenant Additional Rent accruing during such period. This Section 10.4(h) shall survive Closing. 
 (i) With respect to claims made by Southeast Division, Inc. or the contractors performing the work under Section 6 of the Southeast
Division Amendment, Seller shall defend, indemnify and hold Purchaser harmless from and against all claims, damages, liens, demands, causes of action, liabilities, lawsuits, judgments, losses, costs and expenses (including, without limitation,
reasonable attorneys’ fees and expenses actually incurred), asserted against or incurred by Purchaser or its Affiliates and resulting from the failure of Seller to perform its obligations under Section 6 of the Southeast Division
Amendment. The indemnity provided for in this Section 10.4(i) shall survive for a period of six (6) months after the Closing Date. Purchaser will not have any right to bring any action against Seller as a result of claims made by Southeast
Division, Inc. or the contractors against Purchaser because of Seller’s failure to perform its obligations under Section 6 of the Southeast Division Amendment unless written notice containing a specific nature of Seller’s failure
shall have been given by Purchaser to Seller prior to the expiration of said six (6) month period and an action shall have been commenced by Purchaser against Seller within one (1) year after Closing. 
 Section 10.5 Delivery of Real Property. Upon completion of the Closing, Seller will deliver to Purchaser possession of the Real
Property and Improvements, subject to the Tenant Leases and the Permitted Exceptions. 
  

 32 

 Section 10.6 Costs of Title Company and Closing Costs. Costs of the Escrow Agent,
Title Company and other Closing costs incurred in connection with the Closing will be allocated as follows: 
 (a) Purchaser
will pay (i) all premium and other costs for the Title Policy and any endorsements thereto, (ii) all premiums and other costs for any mortgagee policy of title insurance obtained by Purchaser, including but not limited to any endorsements
or deletions, (iii) the cost of the Existing Survey and the costs associated with any modifications, updates, or recertifications of the Existing Survey, (iv) Purchaser’s attorney’s fees; (v) 1/2 of all of the Escrow
Agent’s escrow and closing fees, if any, (vi) any intangibles tax imposed as result of Purchaser’s financing (if any), (vii)  1/2 of the transfer tax resulting from the conveyance of the Property and (viii) all recording fees; 
 (b) Seller will pay (i)  1/2 of the transfer tax resulting from the conveyance of the Property, (ii) 1/2 of all of the Escrow Agent’s escrow and closing fees and (iii) Seller’s attorneys’ fees;

 (c) Any other costs and expenses of Closing not provided for in this Section 10.6 shall be allocated between
Purchaser and Seller in accordance with the custom in the county in which the Real Property is located; and 
 (d) If the
Closing does not occur on or before the Closing Date for any reason whatsoever, the costs incurred through the date of termination will be borne by the party incurring same. 
 Section 10.7 Post-Closing Delivery of Tenant Notice Letters. Immediately following Closing, Purchaser will deliver to each Tenant
(via messenger or certified mail, return receipt requested) a written notice executed by Purchaser and Seller (i) acknowledging the sale of the Property to Purchaser, (ii) acknowledging that Purchaser has received and is responsible for
the Tenant Deposits (specifying the exact amount of the Tenant Deposits) and (iii) indicating that rent should thereafter be paid to Purchaser and giving instructions therefor (the “Tenant Notice Letters”). Purchaser shall
provide to Seller a copy of each Tenant Notice Letter promptly after delivery of same, and proof of delivery of same promptly after such proof is available. This Section 10.7 shall survive Closing. 
 Section 10.8 Audit Letter. Upon Purchaser’s request, for a period of twelve (12) months after the Closing Date, Seller
shall, at Purchaser’s expense, make the books and records related to the Property (as opposed to related to Seller) available to Purchaser for inspection, copying and audit by Purchaser’s designated accountants, and at Purchaser’s
expense. In addition, at such time as Purchaser shall have received information setting forth the revenue and expenses of the Property for the three (3) month period ended March 31, 2005, Seller shall execute and deliver, or cause to be
executed and delivered by the appropriate party, to Purchaser an audit letter in the form attached hereto as Exhibit N (such right of inspection and audit and receipt of the Audit Letter shall survive the Closing). 
 Section 10.9 Property Management Agreement and Leasing Agreement. At Closing, a property management agreement and a leasing listing
agreement between Purchaser and Seller’s Affiliate shall be executed and delivered on terms and conditions and in form reasonably acceptable to Purchaser and Seller’s Affiliate. The property management agreement shall provide, among other
things, for a management fee of 2.75% and a ninety (90) day termination clause. 
  

 33 

 ARTICLE XI 
 BROKERAGE 
 Section 11.1 Brokers. Seller agrees to pay to Eastdil Realty
Company, LLC, a Georgia licensed real estate broker (“Broker”), a real estate commission at Closing (but only in the event of Closing in strict compliance with this Agreement) pursuant to a separate agreement. The payment of the
commission by Seller to Broker will fully satisfy the obligations of the Seller for the payment of a real estate commission hereunder. Other than as stated in the first sentence of this Section 11.1, Purchaser and Seller represent to the other
that no real estate brokers, agents or finders’ fees or commissions are due or will be due or arise in conjunction with the execution of this Agreement or consummation of this transaction by reason of the acts of such party, and Purchaser and
Seller will indemnify, defend and hold the other party harmless from any brokerage or finder’s fee or commission claimed by any person asserting his entitlement thereto at the alleged instigation of the indemnifying party for or on account of
this Agreement or the transactions contemplated hereby. The provisions of this Article XI will survive any Closing or termination of this Agreement. 
 Section 11.2 Broker’s Lien Waiver. At least one (1) Business Day prior to the Closing Date, Broker shall deliver to the Escrow Agent a broker’s lien waiver which includes, without
limitation, (a) an acknowledgment by Broker of the receipt of the entire balance due to Broker for all services rendered by Broker relating to the Property, (b) a waiver by Broker of any claim or lien which Broker may have against
Purchaser, Seller, or the Property by reason of the transaction contemplated by this Agreement, and (c) an indemnity by Broker of Seller and Purchaser from and against any such claim or lien which may be asserted by any agent, broker or other
intermediary by reason of any act or agreement of Broker. 
 ARTICLE XII 
 CONFIDENTIALITY 
 Section 12.1 Confidentiality.
Seller and Purchaser each expressly acknowledges and agrees that, unless and until the Closing occurs, the transactions contemplated by this Agreement and the terms, conditions, and negotiations concerning the same will be held in the strictest
confidence by each of them and will not be disclosed by either of them except to their respective legal counsel, accountants, consultants, engineers, officers, lenders, investors, insurers, clients, partners, directors, and shareholders and other
persons acting in similar capacities, and except and only to the extent that such disclosure may be necessary for their respective performances hereunder or as otherwise required by applicable law. Purchaser further acknowledges and agrees that,
until the Closing occurs, all information obtained by Purchaser in connection with the Property will not be disclosed by Purchaser to any other third persons without the prior written consent of Seller, which consent shall not be unreasonably
conditioned, withheld or delayed. Nothing contained in this Article XII will preclude or limit either party to this Agreement from disclosing or accessing any information otherwise deemed confidential under this Article XII in connection with that
party’s enforcement of its rights following a disagreement hereunder, or in connection with or response to lawful process or subpoena or other valid or enforceable order of a court of competent jurisdiction or any filings with governmental

  

 34 

 
authorities or other compliance with any applicable law, ordinance or governmental order, rule, regulation, regulatory authority requirement or request
required by reason of the transactions provided for herein. Nothing in this Article XII will negate, supersede or otherwise affect the obligations of either party under the Confidentiality Agreement. This provision does not apply to any information
generally known or available, other than as a result of a breach of this Section 12.1. The provisions of this Article XII will survive any termination of this Agreement. 
 ARTICLE XIII 
 REMEDIES 
 Section 13.1 Default by Seller. In the event the Closing of the purchase and sale transaction provided for herein does not occur as
herein provided by reason of any default of Seller, Purchaser may, as Purchaser’s sole and exclusive remedy, elect by notice to Seller within ten (10) Business Days following the scheduled Closing Date, either of the following:
(a) terminate this Agreement, in which event Purchaser will receive from the Escrow Agent the Earnest Money Deposit (and the Independent Consideration shall be paid to Seller) whereupon Seller and Purchaser will have no further rights or
obligations under this Agreement, except with respect to the Termination Surviving Obligations; or (b) seek to enforce specific performance of the Agreement, and in either event, Purchaser hereby waives all other remedies, including without
limitation, any claim against Seller for damages of any type or kind including, without limitation, consequential or punitive damages. Failure of Purchaser to make the foregoing election within the foregoing ten (10) Business Day period shall
be deemed an election by Purchaser to terminate this Agreement and receive from the Escrow Agent the Earnest Money Deposit, whereupon Seller and Purchaser will have no further rights or obligations under this Agreement, except with respect to the
Termination Surviving Obligations. Notwithstanding the foregoing, nothing contained in this Section 13.1 will limit Purchaser’s remedies at law, in equity or as herein provided in the event of a breach by Seller of any of the Closing
Surviving Obligations after Closing or the Termination Surviving Obligations after termination. 
 Section 13.2 Default by
Purchaser. If Purchaser defaults under this Agreement and such default shall continue for three (3) Business Days after Purchaser has received written notice thereof from Seller or RT Deerfield II defaults (after the applicable notice
and cure period) under the Deerfield Commons II Agreement, then the Escrow Agent shall, on demand (after giving Purchaser such written notice as is required under Section 4.5), pay the Earnest Money Deposit to Seller, as Seller’s sole and
exclusive remedy under this Agreement. Seller and Purchaser acknowledge and agree it is impossible to estimate more precisely the damages that might be suffered by Seller upon Purchaser’s default. Seller’s retention of the Earnest Money
Deposit is intended not as a penalty, but as full liquidated damages. The right to receive and retain the Earnest Money Deposit as full liquidated damages is Seller’s sole and exclusive remedy in the event of a default or failure or refusal to
perform hereunder by Purchaser, and Seller hereby waives and releases any right to (and hereby covenants it shall not) sue Purchaser; (a) for specific performance of this Agreement, or (b) to recover actual damages in excess of the
Earnest Money Deposit. Purchaser hereby waives and releases any right to (and hereby covenants that it shall not) sue Seller or seek or claim a refund of said Earnest Money Deposit (or any part thereof) on the grounds it is unreasonable in amount
and exceeds Seller’s actual damages or that its retention by Seller constitutes a penalty and not agreed upon and reasonable liquidated damages. Notwithstanding the foregoing, nothing contained in this Section 13.2 will 

  

 35 

 
limit (i) Seller’s remedies at law, in equity or herein provided in the event of a breach by Purchaser of any of its obligations that survive
Closing or the earlier termination of this Agreement, or (ii) the obligations of RT Deerfield II to Seller’s Affiliate under the Deerfield Commons II Agreement. 
  

					
			
	   	 		 	   
	 Purchaser Initials
	 		 	 Seller Initials

 Section 13.3 Consequential and Punitive Damages. Each of Seller and Purchaser waive any
right to sue the other for any consequential or punitive damages for matters arising under this Agreement. This Section 13.3 shall survive Closing or termination of this Agreement. 
 ARTICLE XIV 
 NOTICES 
 Section 14.1 Notices. All notices or other communications required or permitted hereunder will be in writing, and will be given by
(a) personal delivery, or (b) professional expedited delivery service with proof of delivery, or (c) United States mail, postage prepaid, registered or certified mail, return receipt requested, or (d) facsimile (providing that
such facsimile is confirmed by the sender by expedited delivery service in the manner previously described), sent to the intended addressee at the address set forth below, or to such other address or to the attention of such other person as the
addressee will have designated by written notice sent in accordance herewith and will be deemed to have been given either at the time of personal delivery, or, in the case of expedited delivery service or mail, as of the date of first attempted
delivery on a Business Day at the address or in the manner provided herein, or, in the case of facsimile transmission, upon receipt if on a Business Day and, if not on a Business Day, on the next Business Day. Unless changed in accordance with the
preceding sentence, the addresses for notices given pursuant to this Agreement will be as follows: 
 To Purchaser: 
 RT Deerfield I, LLC 
 c/o CBRE Operating Partnership, L.P. 
 865 South Figueroa Street, Suite 3500 
 Los Angeles, California 90017 
 Attn: Jack A. Cuneo, CEO/President 
 Fax:  (213) 683-4201 
 with copy to: 
 RT Deerfield
I, LLC 
 c/o CB Richard Ellis Investors, LLC 
 800 Boylston Street – Suite 1475 
 Boston, Massachusetts 02176 
 Attn: Victor Bucchere, Managing Director 
 Fax:  (617) 425-2801 
  

 36 

 with copy to: 
 Kirkpatrick & Lockhart Nicholson Graham LLP 
 599 Lexington Avenue 
 New York, New York 10022-6030 
 Attn: Jeffrey H. Weitzman, Esq. 
 Fax:  (212) 536-3901 
 To Seller:            c/o Hines Interests Limited Partnership 
 Three First National Plaza 
 20 West Madison, Suite 440 
 Chicago, Illinois 60602 
 Attention: Mr. C. Kevin Shannahan 
 Telecopy No. (312) 346-4180 
 with copy to:       c/o Hines Interests Limited Partnership 
 Five Ravinia Drive 
 Atlanta, Georgia 30346 
 Attn: Kurt A. Hartman 
 Fax: (770) 206-5325 
 with copy to:       c/o Hines Interests Limited Partnership 
 3003 Summit Boulevard

 Suite 150 
 Atlanta, Georgia 30319 
 Attn: Vikram Mehra 
 Fax: (770) 481-3113 
 with copy to:       King & Spalding LLP 
 191 Peachtree Street, N.E.

 Atlanta, Georgia 30303-1763 
 Attn: D. Clayton Howell, Esq. 
 Facsimile: (404) 572-5148 
 ARTICLE XV 
 ASSIGNMENT AND
BINDING EFFECT 
 Section 15.1 Assignment; Binding Effect. Purchaser will not have the right to assign this
Agreement without Seller’s prior written consent. Notwithstanding the foregoing, Purchaser and Seller may each assign its rights under this Agreement to an Affiliate of such assigning party without the consent of the non-assigning party,
provided that any such assignment does not relieve the assigning party of its obligations hereunder. This Agreement will be binding upon and inure to the benefit of Seller and Purchaser and their respective successors and permitted assigns, and no
other party will be conferred any rights by virtue of this Agreement or be entitled to enforce any of the provisions hereof. Whenever a reference is made in this Agreement to Seller or Purchaser, such reference will include the successors and
permitted assigns of such party under this Agreement. 
  

 37 

 ARTICLE XVI 
 PROCEDURE FOR INDEMNIFICATION AND LIMITED SURVIVAL OF 
 REPRESENTATIONS, WARRANTIES AND
COVENANTS 
 Section 16.1 Survival of Representations, Warranties and Covenants. 
 (a) Notwithstanding anything to the contrary contained in this Agreement, (1) the representations and warranties of Seller set forth
in Section 8.1 and Seller’s liability under Section 8.1, and (2) the covenants in Section 3.2(b) and Seller’s liability under Section 3.2(b), will survive the Closing for a period of six (6) months. Purchaser
will not have any right to bring any action against Seller as a result of (i) any untruth, inaccuracy or breach of such representations and warranties under Section 8.1, or (ii) the failure of Seller to perform its obligations under
Section 3.2(b), (y) unless and until the aggregate amount of all liability and losses arising out of all such untruths, inaccuracies, breaches and failures exceeds $50,000, and then only to the extent of such excess and (z) unless
written notice containing a specific nature of such breach shall have been given by Purchaser to Seller prior to the expiration of said six (6) month period and an action shall have been commenced by Purchaser against Seller within one
(1) year after Closing. In addition, in no event will Seller’s liability for all such untruths, inaccuracies, breaches, and/or failures under Sections 3.2(b) and 8.1 (including Seller’s liability for attorneys’ fees and costs in
connection with such untruths, inaccuracies, breaches and/or failures) exceed, in the aggregate, $300,000. 
 (b) Seller shall
have no liability with respect to any of Seller’s representations, warranties and covenants herein if, prior to the Closing, Purchaser has actual knowledge of any breach of a representation, warranty or covenant of Seller herein, or Purchaser
obtains actual knowledge (from whatever source, including, without limitation, any tenant estoppel certificates, as a result of Purchaser’s due diligence tests, investigations and inspections of the Property, or written disclosure by Seller or
Seller’s agents and employees) that contradicts any of Seller’s representations, warranties or covenants herein, and Purchaser nevertheless consummates the transaction contemplated by this Agreement. 
 (c) The Closing Surviving Obligations will survive Closing without limitation unless a specified period is otherwise provided in this
Agreement. All other representations, warranties, covenants and agreements made or undertaken by Seller under this Agreement, unless otherwise specifically provided herein, will not survive the Closing Date but will be merged into the Closing
documents delivered at the Closing. The Termination Surviving Obligations shall survive termination of this Agreement without limitation unless a specified period is otherwise provided in this Agreement. 
  

 38 

 ARTICLE XVII 
 MISCELLANEOUS 
 Section 17.1 Waivers. No waiver of any breach of any
covenant or provisions contained herein will be deemed a waiver of any preceding or succeeding breach thereof, or of any other covenant or provision contained herein. No extension of time for performance of any obligation or act will be deemed an
extension of the time for performance of any other obligation or act. 
 Section 17.2 Recovery of Certain Fees. In the
event a party hereto files any action or suit against another party hereto by reason of any breach of any of the covenants, agreements or provisions contained in this Agreement, then in that event the prevailing party will be entitled to have and
recover of and from the other party all attorneys’ fees and costs resulting therefrom, subject, however, in the case of Seller, to the limitations set forth in Section 16.1 above. For purposes of this Agreement, the term
“attorneys’ fees” or “attorneys’ fees and costs” shall mean all court costs and the fees and expenses of counsel to the parties hereto, which may include printing, photostatting, duplicating and other expenses, air
freight charges, and fees billed for law clerks, paralegals and other persons not admitted to the bar but performing services under the supervision of an attorney, and the costs and fees incurred in connection with the enforcement or collection of
any judgment obtained in any such proceeding. The provisions of this Section 17.2 shall survive the entry of any judgment, and shall not merge, or be deemed to have merged, into any judgment. 
 Section 17.3 Time of Essence. Seller and Purchaser hereby acknowledge and agree that time is strictly of the essence with respect to
each and every term, condition, obligation and provision hereof. 
 Section 17.4 Construction. Headings at the beginning
of each article and section are solely for the convenience of the parties and are not a part of this Agreement. Whenever required by the context of this Agreement, the singular will include the plural and the masculine will include the feminine and
vice versa. This Agreement will not be construed as if it had been prepared by one of the parties, but rather as if both parties had prepared the same. All exhibits and schedules referred to in this Agreement are attached and incorporated by this
reference, and any capitalized term used in any exhibit or schedule which is not defined in such exhibit or schedule will have the meaning attributable to such term in the body of this Agreement. In the event the date on which Purchaser or Seller is
required to take any action under the terms of this Agreement is not a Business Day, the action will be taken on the next succeeding Business Day. 
 Section 17.5 Counterparts. To facilitate execution of this Agreement, this Agreement may be executed in multiple counterparts, each of which, when assembled to include an original or faxed signature for each party
contemplated to sign this Agreement, will constitute a complete and fully executed agreement. All such fully executed original or faxed counterparts will collectively constitute a single agreement. 
 Section 17.6 Severability. If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by
any rule of law or public policy, all of the other conditions and provisions of this Agreement will nevertheless remain in full force and effect, so 

  

 39 

 
long as the economic or legal substance of the transactions contemplated hereby is not affected in any adverse manner to either party. Upon such
determination that any term or other provision is invalid, illegal, or incapable of being enforced, the parties hereto will negotiate in good faith to modify this Agreement so as to reflect the original intent of the parties as closely as possible
in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. 
 Section 17.7
Entire Agreement. This Agreement is the final expression of, and contains the entire agreement between, the parties with respect to the subject matter hereof, and supersedes all prior understandings with respect thereto. This
Agreement may not be modified, changed, supplemented or terminated, nor may any obligations hereunder be waived, except by written instrument, signed by the party to be charged or by its agent duly authorized in writing, or as otherwise expressly
permitted herein. 
 Section 17.8 Governing Law. THIS AGREEMENT WILL BE CONSTRUED, PERFORMED AND ENFORCED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF GEORGIA. 
 Section 17.9 No Recording. The parties hereto agree that neither this
Agreement nor any affidavit concerning it will be recorded. 
 Section 17.10 Further Actions. The parties agree to
execute such instructions to the Title Company and such other instruments and to do such further acts as may be reasonably necessary to carry out the provisions of this Agreement. 
 Section 17.11 No Other Inducements. The making, execution and delivery of this Agreement by the parties hereto has been induced by
no representations, statements, warranties or agreements other than those expressly set forth herein. 
 Section 17.12
Exhibits. Exhibits A through O, inclusive, are incorporated herein by reference. 
 Section
17.13 No Partnership. Notwithstanding anything to the contrary contained herein, this Agreement shall not be deemed or construed to make the parties hereto partners or joint venturers, it being the intention of the parties to
merely create the relationship of Seller and Purchaser with respect to the Property to be conveyed as contemplated hereby. 
 Section
17.14 Limitations on Benefits. It is the explicit intention of Purchaser and Seller that no person or entity other than Purchaser and Seller and their permitted successors and assigns is or shall be entitled to bring any action to
enforce any provision of this Agreement against any of the parties hereto, and the covenants, undertakings and agreements set forth in this Agreement shall be solely for the benefit of, and shall be enforceable only by, Purchaser and Seller or their
respective successors and assigns as permitted hereunder. Nothing contained in this Agreement shall under any circumstances whatsoever be deemed or construed, or be interpreted, as making any third party (including, without limitation, Broker or any
Tenant) a beneficiary of any term or provision of this Agreement or any instrument or document delivered pursuant hereto, and Purchaser and Seller expressly reject any such intent, construction or interpretation of this Agreement. 
  

 40 

 Section 17.15 Exculpation. In no event whatsoever shall recourse be had or liability
asserted against any of Seller’s partners, members, shareholders, employees, agents, directors, officers or other owners of Seller or their respective constituent partners. Seller’s direct and indirect shareholders, partners, members,
beneficiaries and owners and their respective trustees, officers, directors, employees, agents and security holders, assume no personal liability for any obligations entered into on behalf of Seller under this Agreement and the Closing documents.

 [SIGNATURES FOLLOW ON NEXT SUCCEEDING PAGE] 
  

 41 

 IN WITNESS WHEREOF, Seller and Purchaser have respectively executed this Agreement to be effective as of
the date first above written. 
  

					
	 PURCHASER:

	
	 RT DEERFIELD I, LLC,
 a Delaware limited liability company

		
	 By:
	 	  
		 	 Name:
	 	Jack A. Cuneo
		 	 Title:
	 	Manager and President

  
  

											
	SELLER:
	
	 DEERFIELD COMMONS I LLC,
 a Delaware limited
liability company

		
	By:	 	 Hines Deerfield Commons I Limited Partnership, a Texas
 limited partnership, its Managing Member

			
		 	 By:
	 	 Hines Management, L.L.C.,
 its General
Partner

				
		 		 	By:	 	 Hines Interests Limited Partnership,
 a
Delaware limited partnership,
 its Sole Member

					
		 		 		 	By:	 	 Hines Holdings, Inc., a Texas
 corporation,
its General Partner

						
		 		 		 		 	By:	 	  
		 		 		 		 		 	 C. Kevin Shannahan
 Executive Vice
President

 Agreement of 
 Purchase and Sale 
  

 42 

 JOINDER BY ESCROW AGENT 
 PIEDMONT TITLE INSURANCE AGENCY, INC., referred to in this Agreement as the “Escrow Agent,” hereby acknowledges that it received this Agreement
executed by Seller and Purchaser on the                      day of May, 2005 and accepts the obligations of the Title Company as set forth
herein. It further acknowledges that it received the Deposit on the                      day of May, 2005. The Escrow Agent hereby agrees to
hold and distribute the Independent Consideration and Earnest Money Deposit and interest thereon, and Closing proceeds in accordance with the terms and provisions of this Agreement. It further acknowledges that it hereby assumes all responsibilities
for information reporting required under Section 6045(e) of the Internal Revenue Code. 
  

			
	 PIEDMONT TITLE INSURANCE AGENCY, INC.

		
	 By:
	 	  

			
	 Printed Name:
	 	 Barbara H. Meagan

			
	 Title:
	 	  

 Agreement of 
 Purchase and Sale 
  

 43 

 JOINDER BY BROKER 
 The undersigned Broker joins herein to evidence such Broker’s agreement to the provisions of Section 11.1 and to represent to Seller and Purchaser that such Broker (i) knows of no other brokers,
salespersons or other parties entitled to any compensation for brokerage services arising out of this transaction other than those whose names appear in this Agreement, (ii) has not made any of the representations or warranties specifically
disclaimed by Seller in Section 16.1 and (iii) is duly licensed and authorized to do business in the State of Georgia. 
  

									
		 		 	EASTDIL REALTY COMPANY, LLC
				
	 Date: May    , 2005
	 		 	By:	 	  
		 		 		 	Printed Name:	 	 Michael J. McDonald

		 		 		 	 Title:
	 	  
					
		 		 		 	 Address:
	 	 3414 Peachtree Road

		 		 		 		 	 Suite 1450

		 		 		 		 	 Atlanta, GA 30326

 License
No.:                     
 Tax I.D.
No.:                     
 Agreement of

 Purchase and Sale 
  

 44

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