Document:

Master Property Management, Leasing and Construction Management Agreement

  
 Exhibit 10.2 

Master Property Management, Leasing 
 and Construction Management Agreement 
 This Master
Property Management, Leasing And Construction Management Agreement (“Agreement”) is made and entered into as of the 11th day of August, 2010, by and among Wells Core Office Income REIT, Inc., a Maryland corporation (“Wells
Core REIT”), Wells Core Office Income Operating Partnership, L.P., a Delaware limited partnership (“Wells Core OP”), Wells Real Estate Advisory Services III, LLC, a Georgia limited liability company, and Wells Management
Company, Inc., a Georgia corporation (“Manager”). 
 Background 

Wells Core OP was organized to acquire, own, operate, lease and manage real estate properties on behalf of Wells Core
REIT. Owner (as defined below) intends to retain Manager to manage, coordinate the leasing of, and manage construction activities related to, some of the real estate properties acquired for the benefit of Wells Core REIT under the terms and
conditions set forth herein. 
 Agreement 

Now, Therefore, in consideration of the premises and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows: 
 1. Definitions.
Except as otherwise specified or as the context may otherwise require, the following terms have the respective meanings set forth below for all purposes of this Agreement, and the definitions of such terms are equally applicable both to the singular
and plural forms thereof: 
 1.1. “Advisor” means Wells Real Estate Advisory
Services III, LLC, a Georgia limited liability company, or its successor as advisor of Wells Core REIT. 
 1.2. “Affiliate” of another Person includes only the following: (i) any Person directly or indirectly controlling, controlled by, or under common control with such other Person;
(ii) any Person directly or indirectly owning, controlling, or holding with the power to vote 10% or more of the outstanding voting securities of such other Person; (iii) any legal entity for which such Person acts as an executive officer,
director, trustee, or general partner; (iv) any Person 10% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held, with power to vote, by such other Person; and (v) any executive officer,
director, trustee, or general partner of such other Person. The Manager shall not be deemed to control or be under common control with another Wells-sponsored program unless (i) the Manager owns 10% or more of the voting equity interests of
such program or (ii) a majority of the board (or equivalent governing body) of such program is comprised of Affiliates of the Manager. 
 1.3. “Conflicts Committee” has the meaning ascribed to that term in the articles of incorporation of Wells Core REIT. 

  

  
 1.4. “Improvements” means buildings, structures, and equipment from time to time located on the Properties and all parking and common areas located on the Properties. 

1.5. “Lease” means, unless the context otherwise requires, any lease or sublease made by
Owner or Owner JV as landlord or by its predecessor. 
 1.6. “Management Fees”
has the meaning set forth in Section 4 hereof. 
 1.7. “Owner” means Wells
Core OP, Wells Core REIT, and each of their direct and indirect subsidiaries. 
 1.8.
“Owner JV” means any joint venture, limited liability company or other Affiliate of Owner that is controlled or managed by Owner and that owns, in whole or in part, any Improvements. 

1.9. “Ownership Agreements” has the meaning set forth in Section 2.3.B hereof.

 1.10. “Person” means any natural persons, partnership, corporation,
association, trust, limited liability company or other legal entity. 
 1.11.
“Properties” means all real estate properties owned by Owner or Owner JV and all tracts acquired by Owner or Owner JV in the future containing income-producing Improvements or on which Owner or Owner JV will construct
income-producing Improvements that are included on a Property Amendment to this Agreement (but does not include real estate property owned by Owner or Owner JV that is not included on a Property Amendment agreed to by Owner and Manager). 

1.12. “Property Amendment” means an amendment to this Agreement describing a parcel of
real estate and an Improvement thereon (or, in the case of construction management services provided pursuant to Section 2.6, an Improvement or a planned Improvement, as the case may be) and describing the services to be provided by Manager to
Owner or an Owner JV under this Agreement. 
  

	 	2.	 Appointment Of Manager; Services To Be Performed. 

2.1. Appointment of Manager. Owner hereby engages and retains Manager as the sole and exclusive
manager of the Properties to perform such functions as are specified on the Property Amendment related to each Property and as set forth herein. Manager hereby accepts such appointment on the terms and conditions hereinafter set forth. It being
understood that this Agreement causes Manager to be, at law, Owner’s and Owner JV’s agent with respect to the Properties but only for the limited purposes set forth on the Property Amendments and otherwise expressly set forth herein upon
the terms contained herein. Owner represents that it has authority to grant such agency power. Nothing herein shall obligate Owner to enter into any Property Amendment. 

  
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 2.2. Dealings with Advisor. Unless Owner specifically informs Manager to the contrary, Advisor may perform any of the obligations or exercise any of the rights of Owner or Owner JV under this
Agreement; provided that any actions that Advisor takes on behalf of Owner pursuant hereto are subject to the terms of the agreements between Advisor and Owner, and this Section 2.2 does not expand or modify the authority of Advisor to act on
behalf of Owner. No Property Amendment shall be entered into by Owner without the approval of Owner’s Board of Directors (or a committee of the board authorized to give such approval). 

 

	 	2.3.	 General. 

 A. Efforts of Manager. Manager agrees to perform its duties under this agreement and to use reasonable commercial efforts to enhance the Properties’ ability to generate income. Manager’s
services are to be of scope and quality not less than those generally performed by professional managers of other similar properties in the areas in which Properties are located. Manager shall make available to Owner and any Owner JVs the full
benefit of the judgment, experience and advice of the members of Manager’s organization and staff with respect to the policies to be pursued by Owner and Owner JVs relating to the management, operation, leasing, construction and/or buildout of
the Properties. 
 B. Ownership Agreements. Manager has received copies of agreements of
limited partnership, joint venture partnership agreements and operating agreements of Owner and its Affiliates as well as the articles of incorporation, bylaws, and registration statement on Form S-11 (no. 333-107066) of Wells Core REIT,
including all prospectus supplements and post-effective amendments thereto (collectively, the “Ownership Agreements”) and is familiar with the terms thereof. Advisor agrees to obtain and review copies of all mortgages on all
Properties and inform Manager of any restrictions relating to property use thereof. Manager will use reasonable care to avoid any act or omission which, in the performance of its duties hereunder, in any way conflicts with the terms of the Ownership
Agreements or the mortgages in the absence of the express direction of the Conflicts Committee, and Manager shall promptly notify Owner if any such conflict arises. 

2.4. Specific Duties as Property Manager. Manager’s duties as property manager for any of the
Properties indicated on a Property Amendment as being subject to the management services as provided herein include the following: 
 A. Monies Collected. Manager will collect all rent and other monies from tenants and any sums otherwise due Owner or Owner JV with respect to the Properties in the ordinary course of business in
accordance with the terms and conditions of all leases and other agreements for the use and occupancy of the Properties, including any other charges that may become due at any time from any tenant or from others for services provided in connection
with the use and occupancy of the Properties. In collecting such monies, Manager will inform tenants of the Properties that all remittances are to be in the form of a check, 

  
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money order or wire transfer. Owner authorizes Manager to request, demand, collect and receipt for all such rent and other monies and to institute legal proceedings in the name of Owner or Owner
JV for the collection thereof and for the dispossession of any tenant in default under its Lease. All monies so collected shall be deposited in an Account (as defined in Section 2.4.K(1)). Manager shall not write-off any income items without
the prior approval of Owner. 
 B. Lease and Mortgage Obligations. Manager will perform
all duties of the landlord under all Leases insofar as such duties relate to operation, maintenance, and day-to-day management. Manager will also provide or cause to be provided, at Owner’s or Owner JV’s (as appropriate) expense, all
services normally provided to tenants of like premises, including where applicable and without limitation, gas, electricity or other utilities required to be furnished to tenants under leases, normal repairs and maintenance, and cleaning and
janitorial service. Manager shall use its commercially reasonable efforts to comply with the terms and conditions of all Leases and shall promptly advise Owner of any material breaches. Manager shall also perform all covenants and obligations
required to be performed under the provisions of all mortgages, deeds of trust, deeds to secure debt or other like instrument to the extent that the performance of such covenants and obligations are within the day-to-day control of Manager or as may
be requested by Owner. 
 C. Building Inspections. Conduct complete inspections of the
Properties and the surrounding common areas and all of their mechanical facilities as is prudent to determine that the same are in good order and repair, but no less frequently than once per calendar quarter during the term of this Agreement;
provided, however, that any Properties subject to triple-net leases need only be inspected semi-annually. 
 D. Maintenance. Manager will cause the Properties to be maintained in the same manner as similar properties in the area. Manager’s duties and supervision in this respect include, without
limitation, cleaning of the interior and the exterior of the Improvements and the public common areas on the Properties and the making and supervision of repairs, alterations, and decoration of the Improvements, subject to and in strict compliance
with this Agreement and the Leases. 
 E. Limitations on Expenditures. Manager will not
incur any costs other than those estimated in any approved budget or approved pro forma statements or as otherwise specified in a Property Amendment except for: 

(1) costs incurred in emergency situations in which action is immediately necessary for the preservation
or safety of a Property, or for the safety of occupant or other person (or to avoid the suspension of any necessary service of the Property); 

  
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 (2) expenditures for real estate taxes and assessments that exceed the amount budgeted but only to the extent that such additional amounts are the result of a tax rate increase, property value
reassessment or other assessment that occurs after the preparation of the budget; 
 (3)
maintenance and repair costs that are individually under $10,000 (unless a different amount is specified in a Property Amendment) so long as such costs in the aggregate do not exceed the amount budgeted for such items by more than 5%; and

 (4) maintenance supplies calling for an aggregate purchase price of less than $5,000, unless
a different amount is specified in a Property Amendment. 
 F. Notice of Violations.
Manager will forward to Owner promptly upon receipt all notices of violation or other notices from any governmental authority, and board of fire underwriters or any insurance company, and shall make such recommendations regarding compliance with
such notice as shall be appropriate. 
 G. Personnel. Any personnel Manager hires to
maintain and operate a Property shall be the employees or independent contractors of Manager and not of Owner or Owner JV. Manager agrees to use due care in the selection and supervision of such employees or independent contractors. Manager is
responsible for the preparation of and shall timely file all payroll tax reports and timely make payments of all withholding and other payroll taxes with respect to each employee. 

H. Utilities, Supplies and Services. Manager shall enter into or renew, in the name and on behalf
of Owner, contracts for electricity, gas, steam, landscaping, fuel, oil, maintenance and other services as are customarily furnished or rendered in connection with the operation of similar properties in the area and shall order all necessary
supplies and equipment required for the proper operation, maintenance and repair of the Properties; 
 I. Tenant Complaints. Manager shall maintain business-like relations with the tenants of the Properties and respond to tenant complaints in a prudent, businesslike manner. Manager shall maintain a
record of tenant complaints and Manager’s response to such complaints which record shall be available for review by Owner. 
 J. Signs. Manager shall place and remove, or cause to be placed and removed, such signs upon the Properties as Manager deems appropriate, subject, however, to the terms and conditions of the Leases
and to any applicable ordinances and regulations. 

  
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	 	K.	 Banking Accommodations. 

(1) Operating and Maintaining Bank Accounts. Manager shall establish and maintain one or more
separate checking accounts (each, an “Account”) in the Owner’s or Owner JV’s (as appropriate) name for funds relating to the Properties. All monies deposited from time to time in each Account shall be and remain the
property of Owner or Owner JV (as appropriate) and shall be withdrawn and disbursed by Manager for the account of Owner or Owner JV (as appropriate) only as expressly permitted by this Agreement for the purposes of performing the obligations of
Manager hereunder. No monies collected by Manager on Owner’s or Owner JV’s behalf shall be commingled with funds of Manager. Each Account shall be maintained, and monies shall be deposited therein and withdrawn therefrom, in accordance
with the following: 
 (a) All sums received from rents and other income from the Properties
shall be promptly deposited by Manager in an Account. All checks drawn to the order of Owner, Owner JV, or Advisor should be endorsed by Manager for deposit only and deposited in an Account. 

(b) Manager shall have the right to designate two or more persons who shall be authorized to draw against
each Account, but only for purposes authorized by this Agreement. Manager may not under any circumstances write a check on an Account payable to or in favor of Manager or any Affiliate of Manager other than (i) to reimburse itself for
expenditures made on behalf of the Properties, and (ii) to pay itself the Management Fees payable hereunder, provided that any such expenditure, reimbursement or Management Fee shall be reflected in the monthly operating statement provided with
respect to the month in which such expenditure or reimbursement is paid, and all proper procedures for payment have been followed. 
 (c) All sums due to Manager hereunder, whether for compensation, reimbursement for expenditures, or otherwise, as herein provided, shall be a charge against the operating revenues of the Properties and
shall be paid and/or withdrawn by Manager from an Account in accordance with the terms of the approved budgets or pro formas and to the extent funds are available therefor after taking into account other required expenses of the Properties;
provided, that if Manager has received a notice in accordance with Section 7.1 that it is in default of any material provision hereof and has not cured such default within ten (10) business days, then Manager shall refrain from and be
prohibited from withdrawing funds from an Account pursuant to this Subsection 2.4.K(1)(c) 

  
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until such default is cured and Owner has consented to a normal resumption of the activity provided for in this Subsection 2.4.K(1)(c). In the event that Manager determines that there are
insufficient funds in the Accounts for the Properties to pay sums due to Manager hereunder and to pay the other expenses of the Properties, then Manager shall notify Owner in writing and Owner shall promptly make sufficient funds available to
satisfy such obligations. 
 (d) Unless otherwise directed by Owner, by the 30th day of the
first month following each calendar quarter, Manager shall forward to Owner or Owner JV net operating proceeds from the preceding quarter, retaining at all times, however a reserve for each Property as specified on the Property Amendment related
thereto, in addition to any amounts otherwise provided in the budget as approved by the Owner to meet unbudgeted contingencies. 
 (2) Closing Bank Accounts. All items relating to bank account closings are to be coordinated through Owner. Manager is required to process cash activity in accordance with any applicable
termination agreement, purchase and sale agreement, merger agreement, etc. Manager is responsible for final bank account reconciliation at the time of close out or transfer of the account. 

(3) Bank Account Statements & Reconciliation. 

(a) Bank account statements will be delivered (via U.S. Mail) to a mailing address stipulated by Manager
directly from the banking institution to the Manager’s accounting offices. 
 (b) Manager
should reconcile all bank accounts in a timely manner and make available such reconciliation(s) on request. Manager shall provide explanations for any large, unusual or recurring reconciling items along with an indication as to when they will be
resolved. Bank reconciliations must be reviewed, approved, and initialed by at least one accounting supervisor independent from the individual preparing the bank reconciliation 

(c) Any issues relating to timely receipt of the monthly bank account statement (based on the established
bank account statement cut-off date) should be directed towards the banking institution. Recurring problems relating to the timely receipt of statements should be brought to the attention of Owner. 

  
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 (d) Unless Owner specifically requires otherwise, bank account service charges/fees will be set up to be billed (by the banking institution) directly to the account. 

(e) Outstanding checks (over 6 months old) should be researched and resolved in accordance with
instructions from Owner. 
 (4) Failure of Depository Institution at which an Account is
Located. Manager shall have no liability to Owner for any amounts in an Account which are lost or not covered by insurance if the depository institution at which the Account is maintained fails or is otherwise placed in the control of a
governmental or quasi governmental authority and the assets of the Account are thereby forfeited in whole or in part, provided such depository institution was selected with reasonable care. 

L. Expenses. Manager shall analyze all bills received for services, work and supplies in connection
with the maintaining and operating the Properties, pay all such bills, and pay utility and water charges, sewer rent and assessments, and any other amount payable in respect to the Properties. Manager shall use reasonable commercial efforts to pay
all bills within the time required to obtain discounts, if any. Owner may from time to time request that Manager forward certain bills to Owner promptly after receipt, and Manager shall comply with any such request. It is understood that the payment
of real property taxes and assessment and insurance premiums will be paid out of an Account by Manager. All expenses shall be billed at net cost (i.e., less all commissions, discounts and allowances, however designed, but excluding rebates).
Additionally, Manager will be held responsible for all Property 1099 reporting to the IRS. 1099’s must be filed under Manager name and Manager taxpayer identification number (TIN), listing Manager as the “payer”. Manager will provide
annually a signed declaration indicating compliance with 1099 reporting; Manager will provide this declaration to Owner with the February Reporting Package. Penalties for misfilings are not to be charged to the property, but are payable by Manager.

  

	 	M.	 Other Cash Management Items. 

(1) To the extent funds are available in an Account, Manager shall pay the operating expenses of the
Properties (including, without limitation, sums due Manager under this Agreement) and any other payments relative to the Properties as required by the terms of this Agreement. 

(2) Any interest or other income earned on the assets of an Account shall be re-deposited in the Account,
and shall for federal and state income tax purposes be deemed to be income of the Owner or Owner JV. 

  
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 (3) Unless the bank account structure utilizes an automated cash concentration to the Owner (e.g., zero balance account structure), amounts held in reserve should be forecasted for significant
expenditures (e.g. real estate tax payments) and must be held in interest bearing vehicles until the funds are disbursed. 
 (4) If a Property has petty cash, it is the Manager’s responsibility to ensure that petty cash is reconciled to general ledger and replenished on a monthly basis. 

 

	 	N.	 Books and Records. 

(1) General. Manager shall cause to be kept account books and records for the Properties. Books
and records must show all receipts, expenditures and all other records necessary or convenient for the recording of the results of operations of the Properties. Such account books and records shall be kept in a secure location at the office(s) where
Manager normally keeps all of its records and shall be open to inspection by Owner and its representatives at any reasonable time. Upon the effective date of expiration or termination of this Agreement, all such books and records shall be forthwith
turned over to Owner so as to ensure the orderly continuance of the operations of the Properties. Manager shall take necessary measures to ensure such control over accounting and financial transactions as is reasonably required to protect
Owner’s and Owner JV’s assets, from theft, error or fraudulent activity on the part of Manager’s employees or other agents. Manager shall indemnify and hold Advisor, Owner, and Owner JV harmless from all such losses, including, but
not limited to, the following: 
 (a) Theft of assets by Manager’s employees or other
agents; 
 (b) Penalties and interest due to delay in payment of invoices, bills or other like
charges if funds of Owner or Owner JV or funds in an Account were available to make said payments and delays were not the result of any action or inaction on the part of the Owner; 

(c) Overpayment or duplicate payment of invoices arising from either fraud or error; 

(d) Overpayment of labor costs arising from either fraud or error; 

(e) A sum equal to the value of any form of payment from purveyors to Manager’s employees or
associates arising from the purchase of goods or services for the Properties; and 

  
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 (f) Unauthorized use of facilities by Manager’s employees or associates. 
 (2) Charts of Accounts. The format of all financial reports, documents and other statements prepared by Manager pursuant to this Agreement shall utilize the format required by Owner, as the same
may be changed by Owner from time to time. 
 (3) Fixed Asset Accounting. For Properties
in portfolios requiring maintenance of fixed asset accounting detail and related depreciation (as specified in the Accounting Policies), Manager will be required to maintain and submit to Owner on a monthly basis, a detailed schedule of all fixed
asset additions and the related depreciation/amortization and accumulated depreciation/ amortization utilizing the useful lives and various depreciation methods specified within the Accounting Policies. All such schedules shall agree to the amounts
posted within the general ledger. Manager shall not be responsible for any errors in data made prior to Manager’s involvement with the data. 

(4) Periodic Meetings. As reasonably required by Owner, Manager and other personnel engaged or
involved in the management and operation of the Properties shall meet to discuss the historical results of operations and to consider deviations from budget. 

(5) Right to Conduct Audit. Owner shall have the right to conduct an audit of the Properties’
operations by using its own internal auditors or by employing independent auditors. Costs associated with conducting such audits by internal or independent auditors shall be borne by Owner or Owner JV. Should such audits result in the discovery of
either weaknesses in internal control or errors in record keeping, these shall be communicated to the Manager in writing. Manager shall correct such discrepancies either upon discovery or within a reasonable period of time after notification.
Manager shall inform Owner in writing of the action taken and to be taken to correct such audit discrepancies. If any audit conducted by or on behalf of Owner or Owner JV reveals a discrepancy in excess of ten percent (10%), and greater than
$10,000, for any material line item (i.e. base rent, operating escalation income, total cleaning, total repairs and maintenance, etc.), Manager shall be responsible for the reasonable expenses of such audit. 

(6) Ownership of Books and Records. The books of accounts and all other records relating to or
reflecting the operations of the Properties shall at all times be the property of Owner or Owner JV, as applicable. 

  
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 O. Accounting Policies. Manager shall use the accrual method of accounting with GAAP adjustments shown below (unless and until GAAP changes): 

(1) Straight-Line Rent Adjustment – Record straight-line rent over the entire lease period on a
lease by lease basis 
 (2) Free Rent Adjustment – Recognize any Free Rent as part of the
straight-line rent calculation on a lease by lease basis 
 (3) Capitalization Policy –
Capitalize any expenditure that replace, improve, or otherwise extend the economic life of an asset in excess of $5,000 for any given project. This includes tenant improvements and lease acquisition costs (leasing commissions, space planning fees,
legal fees, etc) that are in excess of $5,000 
 (4) Depreciation Expense – Record monthly
depreciation expense on a straight-line basis over the estimated useful life of a given asset 

(5) Amortization Expense – Record monthly amortization expense on a straight-line basis over the
life of the lease for which the cost was incurred 
 (6) Other – Adopt such other
accounting policies as Owner may direct from time to time or as specified on Exhibit A. 
  

	 	P.	 Reporting. 

 (1) Monthly Financial Reporting Package. Not later than the 20th day of each month, Manager shall cause to be delivered to Owner at least two copies of the standard reporting package and the
specific financial and property information and reports set forth on Exhibit B. Manager acknowledges that the transmittal and specific financial statements and/ or schedules required by Owner are subject to change from time to time and may vary
based on specific Property or portfolio requirements. All such reports shall be in a form prescribed by the Owner. In addition, Manager shall prepare any forms required by Owner to facilitate the input of financial information into Owner’s
accounting system. 
 (2) Final Accounting. Following the expiration or earlier
termination of this Agreement, by virtue of the termination of this Agreement by Owner or Owner JV for cause or otherwise, Manager shall nonetheless be responsible for preparing a final accounting within sixty (60) days of said expiration or
earlier termination for any or all Properties subject to such termination or expiration. Such final accounting shall set forth all current income, all current expenses and all other expenses 

  
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contracted for on Owner’s or Owner JV’s behalf but not yet incurred in connection with the applicable Property(ies). The final accounting shall also include all other items reasonably
requested by Owner. 
 (3) Certification. All financial statements other than those
audited by the Owner’s or Owner JV’s independent public accounting firm shall be certified by an officer of Manager as true and correct in all respects and fairly presenting the financial results of the operation of the Properties.

 (4) Other Reports and Statements. Manager will furnish to Owner, at Manager’s
expense, as promptly as practicable, such other reports, statements and other information with respect to the operations of the Properties as Owner may reasonably request from time to time. 

Q. Budgets and Leasing Plans. Not later than October 1 of each calendar year, Manager shall
prepare and submit to the Owner for its approval an operating budget and, if Manager is also the leasing agent, a marketing and leasing plan on the Properties for the calendar year immediately following such submission. The budget and leasing plan
shall be in the form of the budget and plan approved by the Owner prior to the date thereof and shall note (1) how the property will be managed and leased, (2) market conditions, (3) demographics, (4) annual planned maintenance
schedule, (5) major leasing assumptions, (6) detail schedules for all revenue and expense items with assumptions, and (7) capital expenditure plans. As often as reasonably necessary during the period covered by any such budget,
Manager may submit to the Owner for its approval an updated budget or plan incorporating such changes as shall be necessary to reflect cost over-runs and the like during such period. If the Owner does not disapprove any such budget within 30 days
after receipt thereof by the Owner, such budget shall be deemed approved. If the Owner shall disapprove any such budget or plan, it shall so notify Manager within said 30-day period and explain the reasons therefor. 

R. Governmental Approvals. Obtain all governmental approvals and permits necessary for the
operation of the Properties and recommend to Owner such actions or steps as are necessary to cause the Properties to comply with any and all applicable laws, regulations, ordinances, orders and directives of federal, state or local governmental
authorities; 
 S. Coordination with Property Manager. To the extent Manager is not also
the leasing agent performing the functions described in Section 2.5, Manager will coordinate and cooperate with the leasing agent of the respective Property(ies) to ensure the full leasing and efficient operation of the Properties. 

T. Other Actions. Manager will take such other action and perform such other functions as Manager
or Owner deems advisable or necessary for the efficient and economic management, operation and maintenance of the Properties. 

  
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 2.5. Specific Duties as Leasing Agent. Manager’s duties as leasing agent for any of the Properties indicated on a Property Amendment (and only such Properties) as being subject to the leasing
agent services as provided herein include the following: 
 A. Leasing Functions. Manager
will coordinate the leasing of the Properties and negotiate and use reasonable commercial efforts to secure executed leases from qualified tenants for available space in the Properties. Such leases must be consistent with form and terms approved by
Owner. Manager will use its reasonable commercial efforts to bring about complete leasing of the Properties. Manager shall be responsible for the hiring of all leasing agents, as necessary for the leasing of the Properties, and to otherwise oversee
and manage the leasing process on behalf of the Owner. Such duties include, without limitation, (1) the preparation and distribution of listings to potential tenants in the market, as well as to reputable and active real estate agents within a
reasonable effective area surrounding each Property and (2) the supplying of sufficient information to cooperating agents to enable them at all times to promote the rental of the Properties. Advisor, Owner, and Owner JV agree to refer to
Manager all offerings and inquiries it receives regarding leasing activity at the Properties. 

B. Advertising. Owner authorizes Manager to advertise and to place signage on the Properties
regarding the leasing, provided, that, such signage complies with all applicable governmental laws, regulations and requirements. Manager, at its expense, will provide its marketing package, signage and a two-sided flyer. Any additional advertising
and promotion will be done at Owner’s (or Owner JV’s) expense pursuant to a program and budget agreed upon by Owner and Manager. 
 C. Payments. Manager will pay such other reimbursable expenses and costs as Owner has approved and deems advisable or necessary for the efficient and economic leasing of the Properties. 

D. Coordination with Property Manager. To the extent Manager is not also the property manager
performing the functions described in Section 2.4, Manager will coordinate and cooperate with the property manager of the respective Property(ies) to ensure the full leasing and efficient operation of the Properties. 

E. Other Actions. Manager will take such other action and perform such other functions as Manager
or Owner deems reasonably advisable or necessary for the efficient and economic leasing of the Properties. 
 2.6. Specific Duties as Construction Manager. Manager’s duties as construction manager for any of the Properties indicated on a Property Amendment (and only such Properties) as being subject
to the construction management services as provided herein include the following: 

  
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	 	A.	 General. 

 (1) The Manager shall secure or assist in securing all licenses, registrations, or permits required by law and shall comply with all ordinances, laws, orders, codes, rules, and regulations pertaining to
building of an Improvement or the services described herein. 
 (2) In the event a project is
suspended for a period of more than thirty (30) days, Manager shall have the right to re-assign the personnel managing such project to other projects, and upon resumption of the project, the Manager shall be given a reasonable amount of time to
assign new personnel to the management of the project. In addition, the compensation of the Manager shall be equitably adjusted to account for the suspension of services. If the project is abandoned at any time for any reason, Owner shall give
Manager written notice of such decision, and Owner shall pay the Manager for amounts due under this Agreement through the date of abandonment, and for any costs, expenses and damages incurred by Manager as a result of the abandonment of the project.

 (3) Manager shall enter into or renew, in the name and on behalf of Owner, in its capacity as
construction manager, contracts for capital repairs and maintenance as well as vendor contracts; provided that any such contract entry or renewal shall be subject to the reasonably anticipated payments under such contracts being either within the
scope of the approved budget for such year for the applicable Property or being specifically approved in writing by Owner. 
 B. Duties with Respect to New Construction, Tenant Improvements, and Redevelopments. Manager will perform the following duties for construction of Improvements on undeveloped land (“New
Construction”) and for construction of Improvements that are to be made at the direction of, or in conformity with Lease obligations to, tenants (“Tenant Improvements”) or for the improvement to Improvements that change the
size or nature of such Improvements or for the redevelopment of Improvements (collectively, “Redevelopments”): 
 (1) Provide updated and detailed project budgets to the Owner. 
 (2) Arrange for, coordinate, supervise and advise the Owner with respect to the selection of architects, contractors, design firms and consultants, and the execution of design, construction and consulting
contracts. 
 (3) Review design documents, and drafts thereof, submitted by the architect or
other consultants, and notify Owner in writing of any mistakes, errors or omissions that the Manager observes in the documents 

  
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and any recommendations it may have with respect to such mistakes, errors or omissions. 
 (4) Evaluate and make recommendations to the Owner concerning cost estimates prepared by others. 
 (5) Review and evaluate proposed schedules for construction. 
 (6) Procure subcontractors through a minimum of three quotes for any jobs estimated to involve in excess of $50,000. 

(7) Coordinate the work of subcontractors. 

(8) Monitor the progress of construction. 

(9) Endeavor to identify any deficiencies in the work performed by subcontractors. 

(10) Provide Owner with monthly written status reports. 

(11) Advise the Owner with respect to alterations and modifications in any design documents submitted by
the architect or other consultants that may be in the Owner’s interest, including obtaining advantages in terms of cost savings, scheduling, leasing, operation and maintenance issues and other matters affecting the overall benefit of the
project. 
 (12) Review and advise Owner on change order proposals and requests for additional
services submitted to the Owner. 
 (13) Schedule, coordinate, and attend necessary or
appropriate project meetings. 
 (14) Monitor and coordinate punch list preparation and
resolution by the subcontractors. 
 (15) Make recommendations to Owner concerning, and monitor,
the use of the site by subcontractors, particularly as it relates to staging and storage, ingress and egress, temporary signage, fencing, barricades, restrictions on hours of operation, safety considerations and similar considerations. 

(16) Coordinate, monitor, supervise and advise the Owner with respect to preparation, execution,
completion and filing of project-related documents, including, but not limited to, contracts, permit applications, licenses, certifications, zoning requirements, land use restrictions, governmental filings applicable to the Project and any other
similar documents. 

  
 15 

  
 (17) Review and advise the Owner with respect to draw requests submitted on the project. 
 (18) Upon completion of construction, walk the completed New Construction, Tenant Improvements, or Redevelopments with the Owner to ensure that everything has been completed in accordance with the
specifications. Manager shall cause the subcontractors to repair or replace any items that are determined to be deficient during this walk. 
 (19) As instructed by the Owner, perform additional related project management functions. 
 (20) Collect warranties and operation manuals, certificates, guarantees, as-builts and any similar documentation for the benefit of the Owner. 

C. Duties with Respect to New Construction and Redevelopments. Manager will perform the following
duties with respect to New Construction and Redevelopments: 
 (1) Provide Owner with a budget
for each Improvement to be built prior to beginning construction of the respective Improvement. 

(2) Meet on a regular basis with Owner’s leasing agents and representatives of prospective tenants.

 (3) Arrange for, coordinate, supervise and advise the Owner with respect to various
development services prior to design and construction of the Project, including due diligence, site investigations, land use and zoning matters, and similar development services. 

D. Duties with Respect to Tenant Improvements. Manager will perform the following duties related to
Tenant Improvements: 
 (1) Arrange for and supervise the performance of all installations and
improvements in space leased to any tenant which are either expressly required under the terms of a Lease of such space or which are customarily provided to tenants. 

(2) Meet with tenants and prospective tenants and their architects, engineers, consultants and
contractors to facilitate design and construction of leasehold improvements. 
 (3) Maintain
separate files as to each tenant, and thereby document the entire design and construction process for each tenant. 
 (4) Compile and disseminate such data regarding each tenant as Owner may reasonably require. 

  
 16 

  
 E. Duties with Respect to Tenant Directed Improvements. Manager will perform the following duties for construction of Improvements that are to be made by or under the supervision of tenants
(“Tenant Directed Improvements”) 
 (1) Schedule, coordinate, and attend
necessary or appropriate project meetings. 
 (2) Review and evaluate lease exhibit language
that identifies the scope and nature of tenant construction of the Tenant Directed Improvements. 
 (3) Meet with tenants and prospective tenants and their architects, engineers, consultants and contractors to facilitate design and construction of Tenant Directed Improvements. 

(4) Review tenant construction documents for compliance with landlord criteria and requirements
applicable to the Tenant Directed Improvements. 
 (5) Review and evaluate proposed schedules
for tenant construction. 
 (6) Coordinate delivery of shell space to tenants for construction
of Tenant Directed Improvements. 
 (7) Observe tenant construction with attention to adherence
of actual construction with construction documents. 
 (8) Evaluate and make recommendations to
Owner concerning the coordination of tenant work and any landlord work. 
 (9) Make
recommendations to Owner concerning, and monitor, the use of the site by tenant contractors, particularly as it relates to staging and storage, ingress and egress, temporary signage, fencing, barricades, restrictions on hours of operation, safety
considerations and similar considerations. 
 (10) Monitor the progress of tenant construction,
and verify such key aspects of tenant construction such as compliance with scheduling requirements, compliance with rules and regulations of the Owner, verifying the tenant has obtained proper permits, etc. 

(11) Serve as an information conduit to the Owner from the tenants’ consultants and contractors when
questions arise as to matters at the project site, and ensure that questions and issues are being addressed in a timely manner. 

  
 17 

  
 (12) Ensure that tenant design and construction properly ties into building systems and does not adversely affect their proper operation. 

(13) Review and make recommendations to Owner concerning any requests by tenants for draws against
allowances established by Owner or Owner JV. 
 (14) Maintain separate files as to each tenant,
and thereby document the entire design and construction process for each tenant. 
 (15) Compile
and disseminate such data regarding each tenant as Owner may reasonably require. 
  

	 	3.	 Expenses. 

 3.1. Owner’s Expenses. Except as otherwise specifically provided, all costs and expenses incurred hereunder by Manager in fulfilling its duties to Owner and Owner JV shall be for the account
of and on behalf of Owner and Owner JV. Such costs and expenses may include reasonable wages and salaries and other employee-related expenses of all on-site and off-site employees of Manager who are engaged in the operation, management, maintenance,
leasing, construction, or access control of the Properties, including taxes, insurance and benefits relating to such employees, and legal, travel and other out-of-pocket expenses which are directly related to the management of specific Properties.
Manager shall also allocate a portion of its office, administrative and supplies expense to the extent directly related to the foregoing reimbursable expenses. All costs and expenses for which Owner or Owner JV is responsible under this Agreement
shall be paid by Manager out of an Account. In the event said account does not contain sufficient funds to pay all said expenses, Owner or Owner JV shall fund all sums necessary to meet such additional costs and expenses. 

3.2. Manager’s Expenses. Manager shall, out of its own funds, pay all of its general overhead
and administrative expenses not allocable pursuant to the second or third sentence of the preceding Section 3.1. 
 4. Manager’s Compensation. For the services provided related to each Property included on a Property Amendment, Owner will pay Manager a fee (collectively, the “Management
Fees”) as provided in this Section 4. 
 4.1. Property Management Fee. For
each Property for which Manager provides property management services, Owner shall pay Manager a management fee as set forth in the Property Amendment which will be based on the gross monthly income actually collected from each Property for the
preceding month. For all purposes hereof, “gross monthly income” shall mean the total gross monthly collections received from a Property, including, without limitation, rents (and any interest or penalties accrued thereon), and
miscellaneous gross income items of Owner, as applicable; provided, however, “gross monthly income” specifically excludes: 

  
 18 

  
 A. Interest paid on any depository accounts, including all Accounts and any Accounts holding security deposits; 

B. Security deposits unless and not until such deposits are applied as rental income upon termination of a
lease; 
 C. Parking revenues when a third party operator is engaged, sales taxes, taxes paid in
lieu of ad valorem taxes, and termination payments, except to the extent of previously uncollected rent or termination payments based in part on and to the extent of the remaining rent payable pursuant to a lease terminated prior to its stated
expiration date; 
 D. Imputed revenue related to employee occupied Improvements or spaces and
space allocated or utilized for administrative purposes such as office use or model Improvements; 
 E. Rents paid in advance of the due date until the month in which such payments are to apply as rental income; 

F. Monies collected for any capital items that are paid by tenants (such as tenant finish or other
improvements); and 
 G. Proceeds from a sale, refinancing, condemnation, hazard or liability
insurance, title insurance, tax abatement awards of all or any portion of a Property, other than rental loss insurance payments. 
 Unless otherwise directed by Owner, Manager shall be entitled to withdraw its compensation pursuant to this Section directly from an Account monthly in arrears, on the tenth (10th) day of each
calendar month, except for the reporting period during which this Agreement is terminated, in which case Owner will pay Manager the prorated fees due to Manager for the month of termination. 

4.2. Leasing Commissions. For each Property for which Manager provides leasing agent services,
Owner shall pay Manager fees as follows: 
  

	 	A.	 Leasing Commissions. 

(1) New Lease Commission. For each Property for which Manager serves as leasing agent, Owner will
pay Manager, for each new tenant lease entered into during the term hereof, a commission equal to the percentage specified in the related Property Amendment of the Rent payable during the term (not to exceed ten (10) years). No commission shall
be payable as to any portion of the initial term beyond ten (10) years. As used herein, “Rent” is defined as the total base rental and operating expenses (but excluding future increases in operating expenses) actually to be
paid to Owner by the tenant during the applicable term of the lease; and the calculation of the total base rental specifically incorporates, at a value of zero, any installments of base rental that the tenant is not required to

  
 19 

 
pay as an inducement to enter into the lease (i.e. free rent). Payments shall be as negotiated between the Owner and Manager and as set forth on the Property Amendment. 

(2) Renewal Commissions. Owner shall pay to Manager a commission equal to the percentage specified
in the related Property Amendment of the Rent to be paid by the tenant during the term of any renewal or extension of any tenant lease; provided, however, that no commission shall be payable as to any portion of such renewal or
extension term beyond ten (10) years. For purposes of this subsection 4.2.A(2), a renewal shall include (i) a renewal of any tenant lease in a Property pursuant to a new agreement that is executed during the term of this Agreement and
(ii) a renewal of an existing tenant lease pursuant to a new agreement that is executed during the term of this Agreement and prior to the expiration of the term of the existing tenant lease. Renewal commissions shall be paid out within
thirty (30) days of the execution of the applicable renewal or extension. 
 (3)
Expansion Commissions. Owner shall pay to Manager a commission equal to the percentage specified in the related Property Amendment of the Rent to be paid by the tenant with respect to expansion space in a Property for the remaining portion of
the initial lease term; provided, however, that no commission shall be payable as to any portion of the remainder of such lease term beyond ten (10) years. For purposes of this subsection 4.2.A(3), an expansion shall include
(i) an expansion of any tenant lease in the Property pursuant to a new agreement that is executed during the term of this Agreement and (ii) an expansion of an existing tenant lease pursuant to a new agreement that is executed during the
term of this Agreement and prior to the expiration of the term of the existing tenant lease. Expansion commissions shall be paid out within thirty (30) days of the execution of such expansion. 

(4) Co-Brokerage. As the exclusive leasing agent for the Properties, Manager shall cooperate with
any independent, affiliated or non-affiliated licensed real estate brokers or agents and may offer co-agency but not sub-agencies with respect to the leasing of the Properties. Notwithstanding any language to the contrary contained in this
Section 4.2 providing for a fee or commission to be paid to Manager, in the event that any such independent, affiliated or non-affiliated brokers participates, in good faith (and has a rightful claim to a brokerage commission), as a procuring
cause of a tenant lease or any renewal, extension, expansion or other modification of any tenant lease with respect to which Manager would otherwise be due a commission pursuant to subsections 4.2.A(1) through 4.2.A(3), above (such broker or
agent being hereinafter referred to as “Co-Agent”), then the commission payable by Owner shall only be as set forth on the Property Amendment under 

  
 20 

 
“Co-Brokerage Commissions.” Any such commissions shall be shared between Manager and Co-Agent as they shall agree. 

B. Pending Leases. Within fifteen (15) days after the expiration or earlier termination of
this Agreement, Manager shall deliver to Owner a list of all parties to whom Manager has presented a bona fide “Letter of Proposal” or has otherwise taken substantial and material steps evidenced in a manner acceptable to Owner, in
Owner’s reasonable discretion, with respect to a good faith effort to enter into a lease at a Property during the term of this Agreement regarding the possible leasing of space in a Property, or a possible renewal, extension or of any existing
tenant lease covering space in a Property. Owner agrees that it will pay the commission that would otherwise be due in accordance with Section 4.2.A hereof in the event Owner or its successor or assign enters into any lease with any tenant
validly included in Manager’s list or any affiliate thereof, or enters into any renewal, extension or expansion of an existing tenant lease included in Manager’s list so long as negotiations commence and are a final written agreement is
executed by all necessary parties during one hundred eighty (180) days after such expiration or termination of this Agreement. Owner covenants and agrees that it shall not delay entering into any lease, or any renewal, extension or expansion
thereof, for the purpose of depriving Manager of any commission due Manager pursuant to this Section 4.2.B. 
 4.3. Construction Management Fees. For each Property for which Manager provides construction management services (including without limitation capital projects, new construction, tenant directed
improvements, and redevelopment), Manager shall be entitled to fees as provided in the appropriate Property Amendment. 
 4.4. Audit Adjustment. If any audit of the records, books or accounts relating to the Properties discloses an overpayment or underpayment of Management Fees, Owner, Owner JV, or Manager shall
promptly pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment of Management Fees for any fiscal year of more 10% of the correct aggregate Management Fees for such fiscal
year, Manager shall bear the cost of such audit. 
  

	 	5.	 Insurance And Indemnification. 

  

	 	5.1.	 Insurance to be Carried. 

A. Manager shall cause to be obtained and kept in full force and effect (or confirm that another Person
has done so) at Owner’s or Owner JV’s expense insurance (1) on the Properties and (2) on activities at the properties against such hazards as Owner and Manager shall deem appropriate. Such policies shall name Owner (and Owner JV,
if applicable) and Manager as insureds on a primary, non-contributory basis. If Owner directs in writing, Manager shall procure, for the Properties for which Manager is property manager, insurance that is sufficient to comply with the Leases and the
Ownership Agreements. All liability policies 

  
 21 

 
shall provide sufficient insurance satisfactory to both Owner and Manager and shall contain waivers of subrogation for the benefit of Manager and the applicable Owner and/or Owner JV. 

B. During the term of this Agreement, Manager, as a reimbursable cost to the same extent as provided in
Section 3.1 under this Agreement, shall maintain in full force and effect the following kinds of insurance and levels of coverage: 
 (1) Commercial general liability and excess liability, which is similar in scope of coverage to that maintained by other like property management firms with insurance limits of liability of not less than
Five Million Dollars ($5,000,000.00), combined single limits covering both bodily injury (including death) and property damage, and including contractual liability coverage. Such coverage shall be maintained under the blanket insurance program
secured by the Advisor for the benefit of the Owner, covering the Manager as an insured. However, in the event Owner elects for a separate insurance placement, Manager shall secure commercial general liability and excess liability as stated above,
naming Owner and/or Owner JV as an additional insured on an excess basis and non contributory for claims arising out of Manager’s negligence to the extent coverage is available and terms and conditions are favorable to both Owner (and/or Owner
JV) and Manager; 
 (2) Workers’ compensation and employer’s liability insurance in
the amount not less than required by applicable laws, covering all employees of Manager who are engaged in any work under this Agreement; 
 (3) Commercial automobile liability insurance covering both owned and non-owned vehicles, with limits of not less than $1,000,000 for bodily injury and property damage, when the services to be performed
require the use of a motor vehicle; and 
 (4) Crime/Employee dishonesty insurance with limits
not less than one million dollars ($1,000,000). 
 C. Unless otherwise approved in writing by the
Owner (or Owner JV, as applicable), if any work under this Agreement is subcontracted as permitted herein, or if any work is to be done by independent contractors, Manager shall include in each subcontract a provision that the independent contractor
shall maintain, or (in the absence of a subcontract) otherwise require such independent contractor to maintain, the following insurance: 
 (1) General liability insurance in the minimum amount of One Million Dollars ($1,000,000.00), combined single limit, covering both 

  
 22 

 
bodily injury (including death) and property damage naming Manager, Advisor and Owner (or Owner JV as applicable) as additional insureds. 

(2) Workers’ compensation and Employer’s liability insurance as required by applicable laws.

 Manager shall also require such independent contractors to provide indemnification as is customary in the
discretion of the Manager. Manager may require other insurance as it deems appropriate in the circumstances for independent contractors. Manager shall obtain certificates of insurance from all independent contractors. 

D. Upon written request, evidence of insurance and other documentation shall be provided to all parties
confirming insurance coverage is in effect as required under the above clauses. Manager shall also make available, on Owner’s written request, copies of certificates of insurance from any independent contractors. 

5.2. Cooperation with Insurers. Manager shall cooperate with and provide reasonable access to the
Properties to representatives of insurance companies and insurance brokers or agents with respect to insurance which is in effect or for which application has been made. Manager shall use its best efforts to comply with all requirements of insurers.

 5.3. Accidents and Claims. With respect to Properties for which Manager is property
manager, and with respect to Properties for which manager is construction manager, Manager shall promptly investigate and shall report in detail to Owner and insurance carriers as applicable all accidents, claims for damage relating to the
ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with
any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly
report delivered to Owner pursuant to Section 2.4.P(1). Upon written direction from Owner, Manager shall settle any claim against an insurance company arising out of any policy and, in connection with such claim, shall execute proofs of loss
and adjustments of loss and to collect and receipt for loss proceeds. 
  

	 	5.4.	 Indemnification. 

 A. Wells Core OP shall indemnify and hold harmless the Manager and its Affiliates, including their respective officers, directors, partners and employees, from all liability, claims, damages or losses
arising in the performance of their duties hereunder, and related expenses, including reasonable attorneys’ fees, to the extent such liability, claims, damages or losses and related expenses are not fully reimbursed by insurance, subject to any
limitations imposed by the 

  
 23 

 
laws of the State of Delaware, the limited partnership agreement of Wells Core OP, or as specifically provided otherwise in this Agreement. Notwithstanding the foregoing, the Manager shall not be
entitled to indemnification or be held harmless pursuant to this Section 5.4.A for any activity for which the Manager shall be required to indemnify or hold harmless Wells Core OP pursuant to Section 5.4.B or pursuant to another specific
provision of this Agreement. Any indemnification of the Manager may be made only out of the net assets of Wells Core OP and not from the partners of Wells Core OP. 

B. The Manager shall indemnify and hold harmless the Owner and Owner JV from contract or other liability,
claims, damages, taxes or losses and related expenses including attorneys’ fees, to the extent that such liability, claims, damages, taxes or losses and related expenses are not fully reimbursed by insurance and are incurred by reason of the
Manager’s bad faith, fraud, willful misfeasance, misconduct, reckless disregard of its duties, gross negligence, or material breaches of this Agreement. 
  

	 	6.	 Term, Termination. 

6.1. Term. This Agreement shall commence on the date first above written and shall continue until
terminated in accordance with the earliest to occur of the following: 
 A. One year from the
date of the commencement of the term hereof. However, this Agreement will be automatically extended for an additional one-year period at the end of each year unless Owner or Manager gives sixty (60) days written notice of its intention to
terminate the Agreement; 
 B. Sixty (60) days after prior written notice of intention to
terminate the Agreement given by Owner or Manager; or 
 C. Immediately upon the occurrence of
any of the following: 
 (1) A decree or order is rendered by a court having jurisdiction
(A) adjudging Manager as bankrupt or insolvent, or (B) approving as properly filed a petition seeking reorganization, readjustment, arrangement, composition or similar relief for Manager under the federal bankruptcy laws or any similar
applicable law or practice, or (C) appointing a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of Manager or a substantial part of the property of Manager, or for the winding up or liquidation of its affairs, or

 (2) Manager (A) institutes proceedings to be adjudicated a voluntary bankrupt or an
insolvent, (B) consents to the filing of a bankruptcy proceeding against it, (C) files a petition or answer or consent seeking reorganization, readjustment, arrangement, composition or relief under any similar applicable law or practice,
(D) consents to the filing of any such petition, or to the appointment of a receiver or liquidator or 

  
 24 

 
trustee or assignee in bankruptcy or insolvency for it or for a substantial part of its property, (E) makes an assignment for the benefit of creditors, (F) is unable to or admits in
writing its inability to pay its debts generally as they become due unless such inability shall be the fault of Owner, or (G) takes corporate or other action in furtherance of any of the aforesaid purposes. 

Upon termination, the obligations of the parties hereto shall cease, provided that Manager shall comply with the provisions hereof
applicable in the event of termination and shall be entitled to receive all compensation which may be due Manager up to the date of such termination and as may otherwise be provided in this Agreement, and provided, further, that if this Agreement
terminates pursuant to Section 6.1.C above, Owner shall have other remedies as may be available at law or in equity. 
 6.2. Manager’s Obligations after Termination. Upon the termination of this Agreement, Manager shall have the following duties: 

A. Manager shall deliver to Owner, or its designee, all books and records (including data files in
magnetic or other similar storage media but specifically excluding any licensed software) with respect to the Properties. 
 B. Manager shall transfer and assign to Owner (or Owner JV, if applicable), or its designee, all service contracts and personal property relating to or used in the operation and maintenance of the
Properties, except personal property paid for and owned by Manager. Manager shall also, for a period of sixty (60) days immediately following the date of such termination, make itself available to consult with and advise Owner, or its designee,
regarding the operation, maintenance and leasing of the Properties. 
 C. Manager shall render to
Owner an accounting of all funds of Owner and Owner JV in its possession and shall deliver to Owner a statement of Management Fees claimed to be due Manager and shall cause funds of Owner and Owner JV held by Manager relating to the Properties to be
paid to Owner and Owner JV or their designees and shall assist in the transferring of approved signatories on all Accounts. 
  

	 	7.	 Miscellaneous. 

7.1. Notices. All notices, approvals, consents and other communications hereunder shall be in
writing, and, except when receipt is required to start the running of a period of time, shall be deemed given when delivered in person or on the fifth day after its mailing by either party by registered or certified United States mail, postage
prepaid and return receipt requested, to the other party, at the addresses set forth after their respect name below or at such different addresses as either party shall have theretofore advised the other party in writing in accordance with this
Section 7.1. 
  

			
	 Owner:
	  	WELLS CORE OFFICE INCOME OPERATING PARTNERSHIP, L.P.

  
 25 

			
		  	C/O WELLS CORE OFFICE INCOME REIT, INC.
		  	6200 The Corners Parkway
		  	Norcross, Georgia 30092
		
		  	WELLS CORE OFFICE INCOME REIT, INC.
		  	6200 The Corners Parkway
		  	Norcross, Georgia 30092
	
	 With copy to Advisor:

		
		  	WELLS REAL ESTATE ADVISORY SERVICES III, LLC
		  	C/O WELLS CAPITAL, INC.
		  	Attn: Managing Director, Asset Management
		  	6200 The Corners Parkway
		  	Norcross, Georgia 30092
		
	 Manager:
	  	WELLS MANAGEMENT COMPANY, INC.
		  	Attn: Managing Director, Property Services
		  	6200 The Corners Parkway
		  	Norcross, Georgia 30092

 7.2. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia. 

7.3. Assignment. Manager may delegate partially or in full its duties and rights under this
Agreement but only with the prior written consent of Owner, except that Manager may delegate partially or in full its duties and rights under this Agreement to a wholly owned subsidiary of Manager without Owner’s consent, as long as Manager
remains liable for the performance of such subsidiary’s obligations hereunder. Except as provided in the immediately preceding sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective
successors and assigns. 
 7.4. No Waiver. The failure of Owner to seek redress for
violation or to insist upon the strict performance of any covenant or condition of this Agreement shall not constitute a waiver thereof for the future. 

7.5. Amendments. This Agreement may be amended only by an instrument in writing signed by the party
against whom enforcement of the amendment is sought. 
 7.6. Headings. The headings of the
various subdivisions of this Agreement are for reference only and shall not define or limit any of the terms or provisions hereof. 
 7.7. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and it shall not be necessary in making proof of this Agreement to produce
or account for more than one such counterpart. 

  
 26 

  
 7.8. Entire Agreement. This Agreement and the related Property Amendments and Exhibits hereto contains the entire understanding and all agreements between Owner and Manager respecting the
management of the Properties. There are no representations, agreements, arrangements or understandings, oral or written, between Owner and Manager relating to the management of the Properties that are not fully expressed herein. 

7.9. Disputes. If there shall be a dispute between Owner and Manager relating to this Agreement
resulting in litigation, the prevailing party in such litigation shall be entitled to recover from the other party to such litigation such amount as the court shall fix as reasonable attorneys’ fees. 

7.10. Other Activities of Manager. 

A. General. Nothing herein contained shall prevent the Manager from engaging in other activities or
business ventures, whether or not such other activities or ventures are in competition with Owner or the business of Owner, including, without limitation, property management activities for other Persons (including other REITs) and the provision of
services to other programs advised, sponsored or organized by the Manager or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer, employee, or stockholder of the Manager or its Affiliates to engage in any
other business or to render services of any kind to any other partnership, corporation, firm, individual, trust or association. The Manager may, with respect to any investment in which the Owner is a participant, also render advice and service to
each and every other participant therein. The Manager shall report to the board of directors of Wells Core REIT the existence of any condition or circumstance, existing or anticipated, of which it has knowledge, which creates or could create a
conflict of interest between the Manager’s obligations to Owner and its obligations to or its interest in any other partnership, corporation, firm, individual, trust or association. 

B. Policy with Respect to Allocation of Tenant Rental Opportunities. Before the Manager markets
leasable space owned by another Wells-sponsored program to a prospective tenant, the needs of which would in the Manager’s judgment be met by leasable space owned by Owner, the Manager shall determine in its sole discretion that the prospective
tenant’s needs would be better met by leasable space owned by another owner. In the event that the Manager is marketing to a prospective tenant whose needs would, in the sole discretion of the Manager, equally be met by leasable space owned by
Owner and another Wells-sponsored program, then the Manager may more aggressively market the leasable space owned by the other program if it has had the longest period of time elapse since space owned by it was aggressively marketed by Manager. The
Manager will use its reasonable efforts to fairly allocate prospective tenant opportunities in accordance with such allocation method and will promptly disclose any material deviation from such policy or the establishment of a new policy, which
shall be allowed provided (1) the board of directors of Wells Core REIT is provided with notice of such policy at least 60 days prior to such policy becoming effective and 

  
 27 

 
(2) such policy provides for the reasonable allocation of prospective tenant marketing opportunities among such programs. The Manager shall provide the Conflicts Committee with any
information reasonably requested so that the Conflicts Committee can insure that the allocation of prospective tenant marketing opportunities is applied fairly. Nothing herein shall be deemed to prevent the Manager or an Affiliate from marketing
leasable space that it may own rather than aggressively marketing space owned by Owner or another Wells-sponsored program so long as the Manager is fulfilling its obligation to market vacant space owned by Owner in a manner consistent with the
policies and objectives of the Owner. 
 7.11. Severability. If any term, covenant or
condition of this Agreement or the application thereof to any Person or circumstance shall, to any extent, be held to be invalid or unenforceable, then the remainder of this Agreement, or the application of such term, covenant or condition to
persons or circumstances other than those as to which it is held to be invalid or unenforceable, shall not be affected thereby, and each term, covenants or condition of this Agreement shall be valid and shall be enforced to the fullest extent
permitted by law. 
 [Signatures appear on next page] 

  
 28 

  
 In
Witness Whereof, the parties have executed this Property Management, Leasing and Asset Management Agreement as of the date first above written. 
  

			
	 WELLS CORE REIT:

	
	 WELLS CORE OFFICE INCOME REIT, INC.

		
	 By:
	 	 /s/ Douglas P. Williams

	 Name:
	 	 Douglas P. Williams

	 Title:
	 	 Executive Vice President

	
	 OWNER:

	
	 WELLS CORE OFFICE INCOME OPERATING
 PARTNERSHIP, L.P.

		
	 By:
	 	Wells Core Office Income REIT, Inc. (as General Partner of Wells Core Office Income Operating Partnership, L.P.)
		
	 By:
	 	 /s/ Douglas P. Williams

	 Name:
	 	 Douglas P. Williams

	 Title:
	 	 Executive Vice President

	
	 ADVISOR:

	
	WELLS REAL ESTATE ADVISORY SERVICES III, LLC
		
	 By:
	 	Wells Real Estate Funds, Inc., its sole member
		
	 By:
	 	 /s/ Douglas P. Williams

	 Name:
	 	 Douglas P. Williams

	 Title:
	 	 Vice President

	
	 MANAGER:

	
	 WELLS MANAGEMENT COMPANY, INC.

		
	 By:
	 	 /s/ Douglas P. Williams

	 Name:
	 	 Douglas P. Williams

	 Title:
	 	 Vice President

  
 29 

  
 Exhibit A

 Additional Accounting Policies 

  
 A-1

  
 Exhibit B

 Monthly Reporting Package Contents 

For the current month and year to date, statements presenting, on a comparative basis, actual to budget (and/or forecast
or other projections), including variance explanations for material variances: 
 1. Executive Summary
(operations, leasing, capital, tenant/market issues, other) 
 2. Balance Sheet 

3. Income Statement 
 4. Trial Balance – Month Activity 
 5. Trial Balance –
YTD Balances 
 6. General Ledger 

7. Copies of all bank statements & reconciliations. 

8. Aged Receivables and Delinquencies Report 

9. Check Register 
 10. Rent Roll 
 11. Schedule of Capital Additions. 

12. Schedule of Depreciation 
 13. Schedule of Tenant Security Deposits 
 14. Support Schedules
for Asset & Liability accounts (Accrued Receivables, Prepaid Expenses, Other Assets, Accrued Operating Expenses, Accrued Real Estate Taxes, Accrued Interest, Other Liabilities, etc.) 

15. MTD & YTD variance report with explanations 

16. All reports should be provided using the Wells Chart of Accounts 

17. List of any material accrual adjustment that may have been missed on the last business day of each month 

  
 B-1

  
 Exhibit C

 Wells Core Office Income REIT, Inc. 
 Master Property Management, Leasing 
 and Construction Management
Agreement 
 Form of Property Amendment 
 Property Description:                             
                                         
                                         
                                         
                                         
                        
                                  
                                         
                                         
                                         
                                         
                                         
                    

                      
                                         
                                         
                                         
                                         
                                         
                               

Commencement
Date:                                 

Services to be Provided: 
  

	 ̈	 Property Management Services as specified in Section 2.4 of the Property Management, Leasing, and Construction Management Agreement except as
specified below: 

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

Reserve for Property
$                     (per Section 2.4.K(1)(d) of Agreement) 
 Maintenance or repair costs threshold (if other than $10,000): $                     (per
Section 2.4.E(3)) 
 Maintenance supplies aggregate purchase price threshold (if other than $5,000): $ (per
Section 2.4.E(4)) 
  

	 ̈	 Leasing Agreement duties as specified in Section 2.5 of the Property Management, Leasing, and Construction management Agreement except as
specified below: 

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

  

							
	  	  	 	  	 	  	 
		  	 Manager
Initials
	  		  	 Owner
Initials

C-1 

 Property Amendment (continued) 

 

  

	 ̈	 Construction Management Services as specified in Section 2.6 of the Property Management, Leasing, and Construction Management Agreement except
as specified below. In particular, the construction management will include the following (add attachments as necessary): 

                                  
                                         
                                         
                                         
                                         
                                         
                    

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

  

							
	  	  	 	  	 	  	 
		  	 Manager
Initials
	  		  	 Owner
Initials

C-2 

 Property Amendment (continued) 

 

  
 Fees: 

 

	 ̈	 Property Management Fee:
                     %, as specified in Section 4.1 

 

	 ̈	 Property Management Fee (other calculation):
                                 

 

	 ̈	 Leasing Agreement Fees:
                                 

 

	 ̈	 Lease Up Fee:
                                 

 

	 	 ̈	 New Lease Commission Percentage (see Section 4.2.A(1)):
                                 

 

	 	 ̈	 Renewal Commission Percentage (see Section 4.2.A(2)):
                                 

 

	 	 ̈	 Expansion Commission Percentage (see Section 4.2.A(3)):
                                 

 

	 	 ̈	 Co-Brokerage Commissions (see Section 4.2.A(4)):
                                 

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

 

	 	 ̈	 Payment terms (if other than specified in Section 4.2):
                                 

 

	 ̈	 Construction management Fees: 

                                  
                                         
                                         
                                         
                                         
                                         
                    

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

                      
                                         
                                         
                                         
                                         
                                         
                               

Examples: 
  

	 ̈	 The Owner agrees to pay Manager a management fee in the amount of
$                     within fifteen (15) days of acceptance of the Improvement by the Owner. 

 

	 ̈	 As payment for the services to be performed by the Manager hereunder, Owner shall pay the Manager a fee of
                                ($       
             ), to be paid on the first day of each month of the term of the project in equal monthly installments of
                                ($       
             ), plus reimbursable expenses referenced in Section 3 of this Agreement. 

 

	 ̈	 Manager agrees to collect and provide the Owner with invoices for the work completed on the Improvement on a monthly basis unless the Owner and
Manager agree to a more frequent basis. Upon delivery of such invoices, the Owner will be solely responsible for promptly paying the company or companies performing the work. The contract form

  

							
	  	  	 	  	 	  	 
		  	 Manager
Initials
	  		  	 Owner
Initials

C-3 

 Property Amendment (continued) 

 

	 	 
used by the Owner shall specify that Manager has no responsibility for payment. Reimbursable expenses as described in Section 3 of this Agreement shall be reimbursed to the Manager at cost
plus ten percent (10%) and shall be billed on a monthly basis. 

  

	 ̈	 In connection with construction projects (capital projects, new construction, tenant improvements, redevelopment, etc.) managed on behalf of the
Owner, Manager shall be paid a Construction Management Fee for supervision of the project equal to a percentage of the hard and soft costs of the project as follows: 

 

	 	a)	     % of the project costs up to
$                    ; 

  

	 	b)	     % of the project costs greater than
$                    , but less than
$                    ; and 

  

	 	c)	     % of the project costs greater than
$                    . 

 In connection with tenant improvement projects managed on behalf of a tenant, Manager may negotiate a fee directly with the tenant. In connection with tenant directed improvements managed by a tenant, or
a tenant’s agent, Manager shall be paid by the Owner a Construction Management Fee for supervision of the project equal to              percent
(            %) of the hard and soft costs. 
  

			
	 OWNER:

		
	 Name of Owner:
	 	  

			
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 MANAGER:

	
	 WELLS MANAGEMENT COMPANY, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

							
	  	  	 	  	 	  	 
		  	 Manager
Initials
	  		  	 Owner
Initials

C-4Agreement of Purchase and Sale

  
 Exhibit 10.3 

AGREEMENT OF PURCHASE AND SALE 
 by and between 
 BREOF BNK3A ROYAL RIDGE LP, a 

Delaware limited partnership, 
 as Seller, 
 and 

WELLS CORE OFFICE INCOME OPERATING PARTNERSHIP, L.P., a 

Delaware limited partnership, 
 as Buyer 

  
 Table of Contents

  

					
	 Article
	 	 	  	 Page

			
	 ARTICLE 1
	 	       DEFINITIONS
	  	1
			
	 1.1
	 	 Definitions
	  	1
			
	 ARTICLE 2
	 	       PURCHASE AND SALE
	  	6
			
	 2.1
	 	 Purchase and Sale
	  	6
			
	 ARTICLE 3
	 	       DEPOSIT AND PURCHASE PRICE
	  	6
			
	 3.1
	 	 Earnest Money Deposit in Escrow
	  	6
			
	 3.2
	 	 Purchase Price and Handling of Earnest Money Deposit
	  	7
			
	 3.3
	 	 Closing Escrow
	  	7
			
	 ARTICLE 4
	 	       TITLE AND SURVEY
	  	7
			
	 4.1
	 	 Title
	  	7
			
	 4.2
	 	 Survey
	  	9
			
	 4.3
	 	 Tenant Estoppels
	  	9
			
	 ARTICLE 5
	 	       DUE DILIGENCE
	  	10
			
	 5.1
	 	 Due Diligence Materials
	  	10
			
	 5.2
	 	 Inspection
	  	10
			
	 5.3
	 	 Due Diligence Termination
	  	11
			
	 ARTICLE 6
	 	       REPRESENTATIONS AND WARRANTIES
	  	12
			
	 6.1
	 	 Representation and Warranties of Seller
	  	12
			
	 6.2
	 	 Limitations
	  	14
			
	 6.3
	 	 Representations and Warranties of Buyer
	  	15
			
	 6.4
	 	 AS-IS
	  	16
			
	 6.5
	 	 Release
	  	17
			
	 ARTICLE 7
	 	       SELLER’S COVENANTS
	  	17
			
	 7.1
	 	 Covenants
	  	17
			
	 ARTICLE 8
	 	       CONDITIONS PRECEDENT
	  	18
			
	 8.1
	 	 Conditions Precedent to the Obligations of Buyer
	  	18
			
	 8.2
	 	 Conditions Precedent to the Obligations of Seller
	  	19
			
	 ARTICLE 9
	 	       DESTRUCTION, DAMAGE OR CONDEMNATION
	  	19
			
	 9.1
	 	 Destruction or Damage
	  	19
			
	 9.2
	 	 Condemnation
	  	20

  
 i 

					
			
	 ARTICLE 10
	 	       POSSESSION, PRORATIONS AND CLOSING COSTS
	  	21
			
	 10.1
	 	 Possession
	  	21
			
	 10.2
	 	 Prorations
	  	21
			
	 10.3
	 	 Closing Costs
	  	23
			
	 ARTICLE 11
	 	       CLOSING
	  	24
			
	 11.1
	 	 Time and Place
	  	24
			
	 11.2
	 	 Seller’s Deliveries
	  	24
			
	 11.3
	 	 Buyer’s Deliveries
	  	26
			
	 11.4
	 	 Concurrent Deliveries
	  	26
			
	 11.5
	 	 Concurrent Transactions
	  	26
			
	 11.6
	 	 Type of Closing
	  	27
			
	 11.7
	 	 Title Insurance
	  	27
			
	 ARTICLE 12
	 	       DEFAULT
	  	27
			
	 12.1
	 	 Buyer Default
	  	27
			
	 12.2
	 	 Seller Default
	  	28
			
	 ARTICLE 13
	 	       BROKERAGE
	  	29
			
	 13.1
	 	 Brokerage
	  	 30

			
	 ARTICLE 14
	 	       NOTICES
	  	30
			
	 14.1
	 	 Notices
	  	 31

			
	 ARTICLE 15
	 	       ADDITIONAL COVENANTS
	  	31
			
	 15.1
	 	 Entire Agreement, Amendments and Waivers
	  	31
			
	 15.2
	 	 Further Assurances
	  	31
			
	 15.3
	 	 Successors and Assigns
	  	31
			
	 15.4
	 	 No Third Party Benefits
	  	31
			
	 15.5
	 	 Interpretation
	  	31
			
	 15.6
	 	 Governing Law
	  	 32

			
	 15.7
	 	 Attorneys’ Fees
	  	 32

			
	 15.8
	 	 Assignment
	  	32
			
	 ARTICLE 16
	 	       CONFIDENTIALITY
	  	32
			
	 16.1
	 	 Confidentiality
	  	32
			
	 ARTICLE 17
	 	       EXCHANGE PROVISIONS
	  	33
			
	 17.1
	 	 Tax Free Exchange
	  	33

  
 ii 

  
 LIST OF EXHIBITS AND SCHEDULES

  

					
	 EXHIBIT A
	 	-	 	 Legal Description of Land

	 EXHIBIT B
	 	-	 	 Excluded Items of Tangible Personal Property

	 EXHIBIT C
	 	-	 	 List of Contracts

	 EXHIBIT D
	 	-	 	 List of Violations

	 EXHIBIT E
	 	-	 	 List of Litigation

	 EXHIBIT F
	 	-	 	 List of Leases

	 EXHIBIT G
	 	-	 	 Assignment and Assumption of Contracts

	 EXHIBIT H
	 	-	 	 Assignment and Assumption of Licenses and Permits and Warranties

	 EXHIBIT I
	 	-	 	 Bill of Sale

	 EXHIBIT J
	 	-	 	 Assignment and Assumption of Leases

	 EXHIBIT K
	 	-	 	 Confidentiality Agreement

	 EXHIBIT L
	 	-	 	 Letter to Buyer’s Auditor

  
 iii

  
 AGREEMENT OF
PURCHASE AND SALE 
 THIS AGREEMENT OF PURCHASE AND SALE is made and entered into as of
August 5, 2010, by and between BREOF BNK3A ROYAL RIDGE LP, a Delaware limited partnership (“Seller”), and WELLS CORE OFFICE INCOME OPERATING PARTNERSHIP, L.P., a Delaware limited partnership
(“Buyer”). 
 R E C I T A L S: 

A.        Seller is the owner of the Land and the Building (as such terms are
hereinafter defined) commonly known as 3929 W. John Carpenter Freeway, Irving, Texas 75063. 

B.        Seller has certain right, title and interest in and to the Personal
Property, the Contracts, the Licenses and Permits, and the Warranties (as such terms are hereinafter defined). 

C.        Seller desires to sell to Buyer, and Buyer desires to purchase from
Seller, all of Seller’s right, title and interest in and to the Land and the Improvements and the balance of the Property (as hereinafter defined) upon and subject to the terms and conditions hereinafter set forth. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows: 
 ARTICLE 1 
 DEFINITIONS 

1.1        Definitions.     When used herein,
the following terms shall have the respective meanings set forth opposite each such term: 

    (a)        Agreement.
  This Agreement of Purchase and Sale, including the Recitals set forth above and the Exhibits attached hereto which are by this reference incorporated herein and made a part hereof. 

    (b)        Building.
  That certain building located at the Land commonly known as 3929 W. John Carpenter Freeway, Irving, Texas 75063. 
     (c)        Buyer’s Indemnity.   As defined in Section 5.2. 

    (d)        Buyer’s
Representatives.   As defined in Section 5.2. 

    (e)        Closing. The
closing of the sale and purchase transaction contemplated by this Agreement, as described in Article 11 of this Agreement. 
     (f)        Closing Date.   The thirtieth (30th) day following the Due Diligence Approval Date (or such other
date as mutually agreed upon by the parties, at their 

 
discretion); provided, however, that (i) Seller shall have the right (in its sole discretion), to be exercised by written notice thereof to Buyer on or before such initially-scheduled
Closing Date, to extend said initially-scheduled Closing Date to a date certain set forth in said written notice which is not later than thirty (30) days after the aforesaid initially-scheduled Closing Date in order to attempt to satisfy the
Estoppel Threshold (as defined in Section 4.3 below) and/or to coordinate the payoff of its existing debt encumbering the Property; and (ii) Buyer shall have the right (in its sole discretion) to be exercised by written notice thereof to
Seller given on or before at least two (2) business days prior to such initially-scheduled Closing Date and by deposit with Escrowee of the Extension Deposit (as defined in the definition of “Earnest Money Deposit” below), to extend
said initially scheduled Closing Date to a date certain set forth in said written notice which is not later than thirty (30) days after the aforesaid initially scheduled Closing Date. 

    (g)       Contingency Period. The
period beginning on the Contract Date (defined below) and ending at 5:00 p.m., Central Time, on the thirtieth (30th) day following said Contract Date. 

    (h)       Contract
Date.   The date of mutual execution and delivery of an original, fully executed counterpart of this Agreement, which date shall be set forth in the introductory paragraph of this Agreement. 

    (i)        Contracts. All
maintenance, service, security, supply, promotional, utility service, equipment leases (for personal property not owned by Seller but used in connection with the Property) and other contracts and agreements to which Seller is a party relating to any
component of the Property, specifically excluding, however, the Leases and provided that to the extent Buyer requests in writing that Seller terminate any of the Contracts and to the extent such Contracts can be terminated by their terms without
penalty or any other termination payment, Seller will send notice of termination for such Contracts on the Closing Date following the Closing hereunder. 

    (j)        Deed. The special
warranty deed to be delivered by Seller to Buyer at the Closing conveying fee simple title to the Land and the Improvements to Buyer, subject only to the Permitted Title Exceptions. 

    (k)       Due Diligence Approval
Date.   The last day of the Contingency Period 

    (l)        Due Diligence
Materials. All documents and materials relating to the Property contained on that certain website for the Property to which Buyer will hereafter have access, and/or otherwise contained on a CD ROM disk delivered by Seller or its agent to
Buyer, together with those other documents and materials which Seller has delivered or made, or will deliver or make, available to Buyer for review (including, without limitation, to the extent in Seller’s possession, income statements and
financial information requested by Buyer but without any further obligation for Seller to prepare or compile any such financial statements). Except as expressly provided in Article 6 hereof, or in any document executed by Seller and delivered to
Buyer at the Closing, Seller makes no warranties or representations concerning the information contained on the 

  
 2 

 
aforesaid website or in the documents or materials delivered or made available to Buyer for review. 

    (m)        Earnest Money
Deposit.  The sum of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) (the “Initial Earnest Money”), which shall be deposited by Buyer with Escrowee, as escrowee, pursuant to Section 3.1 below. If
the Closing Date is extended by Buyer as provided in Section 1.1(f)(ii) above, an additional extension deposit of Five Hundred Thousand and No/100 Dollars ($500,000.00) (the “Extension Deposit”) shall be deposited by Buyer with
Escrowee, as escrowee, pursuant to Section 3.1 below. The “Earnest Money Deposit” means the then current amount of earnest money required to then be on deposit with Escrowee, whether only the Initial Earnest Money Deposit or both the
Initial Earnest Money Deposit and the Extension Deposit, as applicable. The Earnest Money Deposit shall be held, in an interest bearing money market account as contemplated in Section 3.1 below, as earnest money pursuant to the terms of this
Agreement. 

    (n)        Environmental
Laws.  All current and future federal, state and local statutes, regulations, ordinances, judgments, decrees and rules relating to (i) the emission, discharge, release or threatened release of a Hazardous Material into the
air, surface water, groundwater or land; (ii) the manufacturing, processing, use, generation, treatment, storage, disposal, transportation, handling, removal, remediation or investigation of a Hazardous Material; or (iii) the protection of
human health, safety or the indoor or outdoor environment, including without limitation, the Clean Air Act, the Federal Water Pollution Control Act, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation
and Liability Act, the Occupational Safety and Health Act, all amendments thereto, all regulations promulgated thereunder, and their state or local statutory and regulatory counterparts. 

    (o)        Escrowee. 
  Chicago Title Insurance Company (through its national office located at 711 Third Avenue, New York, New York 10017). 
     (p)        Hazardous Material. Any solid, liquid or gaseous substance, chemical, compound, product, byproduct, waste or
material that is or becomes regulated, defined or designated by any applicable federal, state or local governmental authority or by any Environmental Law as hazardous, extremely hazardous, imminently hazardous, dangerous or toxic, or as a pollutant
or contaminant, and shall include, without limitation, asbestos, asbestos-containing material, polychlorinated biphenyls, and oil, petroleum, petroleum products and petroleum byproducts. 

    (q)        Improvements. The
Building, together with Seller’s interest in any and all other improvements located on the Land, but excluding any utility or other facilities owned by parties who have been granted easement and other occupancy rights pursuant to any of the
Permitted Title Exceptions. 

    (r)        Inspections. 
 As defined in Section 5.2. 

  
 3 

  
     (s)        Intangible Personal Property.   Any and all intangible personal property of every kind and character
owned by Seller and used in connection with the operation of the Real Property. 

    (t)        Land.  
The land legally described on Exhibit A attached hereto and incorporated herein by this reference. 
     (u)        Leases.   All leases, subleases, licenses and other forms of agreement granting any party the right to
use or occupancy of any portion of the Land and/or Improvements, and all renewals, modifications, amendments, guarantees, and other agreements affecting the same. 

    (v)        Legal
Requirements.  All laws, statutes, codes, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations, permits, licenses, authorizations, orders, directions and requirements of all governments and governmental
authorities having jurisdiction of the Property (including, for purposes hereof, any local Board of Fire Underwriters), and the operation thereof. 

    (w)       Licenses and
Permits.     All licenses, permits, franchises, certifications, authorizations, approvals, certificates of occupancy and entitlements issued, approved or granted by any governmental authority or body having jurisdiction
over the Property and used in connection with the operation, ownership or maintenance of the Property or any part thereof. 
     (x)        Monetary Liens.  As defined in Section 4.1. 

    (y)        Permitted Title
Exceptions.   Those exceptions to title to the Property and other matters (i) disclosed or referenced in the Title Commitment (other than Monetary Liens [defined above]) to the extent approved or deemed approved by Buyer
pursuant to Article 4 hereof, (ii) disclosed or referenced in the Survey or any Updated Survey [defined below] (or which would be disclosed in any Updated Survey had Buyer so obtained same), to the extent approved or deemed approved by Buyer
pursuant to Article 4 hereof, and (iii) all matters arising out of the acts or omissions of Buyer and those parties claiming by, through or under Buyer or acting on behalf of Buyer. 

    (z)        Personal
Property. Collectively, the Tangible Personal Property and the Intangible Personal Property. 
     (aa)      Phase I Study.  As defined in Section 5.2. 

    (bb)      Property.   
  Collectively, the Real Property, the Personal Property, the Contracts, the Licenses and Permits, and the Warranties. 
     (cc)      Purchase Price. Eighteen Million Three Hundred Thousand and No/100 Dollars ($18,300,000.00), plus or minus prorations as
described in this Agreement. 

    (dd)      Real Property.  
The Land and the Building, together with any and all right, title and interest of Seller in and to all other Improvements at the Land and all 

  
 4 

 
systems, facilities, fixtures, machinery, equipment and conduits to provide fire protection, security, heat, exhaust, ventilation, air-conditioning, electrical power, light, plumbing,
refrigeration, gas, sewer, water and other utilities servicing the Land and Improvements (including all replacements or additions thereto between the Contract Date and the Closing Date); any and all assignable right, title and interest of Seller in
and to all privileges, rights, options, easements, hereditaments and appurtenances thereto belonging; and any and all assignable right, title and interest of Seller in and to any streets, alleys, passages and other rights-of-way included therein or
adjacent thereto (before or after any vacation thereof). 

    (ee)      Seller Indemnified
Parties.  As defined in Section 5.2. 

    (ff)       Structural
Report.  As defined in Section 5.2. 

    (gg)      Survey. That certain
ALTA/ACSM Land Title Survey Bock & Clark Project No. 200900054-002 dated February 3, 2009 (and containing a last revised date of February 1, 2010), prepared by Bock & Clark Corporation. 

    (hh)      Tangible Personal
Property.     All machinery, supplies, equipment, fixtures, furnishings and other tangible personal property of every kind and character owned by Seller and situated in or upon the Real Property or any part thereof, and
all replacements, additions or accessories thereto between the Contract Date and the Closing Date, but specifically excluding those items designated on Exhibit B attached hereto. 

    (ii)        Tenant Inducement
Costs. All payments, costs and expenses required to be paid or provided by Seller, as landlord, pursuant to a Lease including, without limitation, tenant improvement costs, lease buyout costs, brokerage commissions, reimbursement of tenant
moving expenses and other out-of-pocket costs. 

    (jj)        Title
Commitment. That certain Commitment for Title Insurance to be issued by Chicago Title Insurance Company in accordance with Section 4.1 hereof. 

    (kk)      Title Company. Chicago Title
Insurance Company, at the same address as for Escrowee. 

    (ll)        Title
Policy.  A basic form of ALTA (or the closest equivalent in the State where the Real Property is located) Owner’s Title Insurance Policy covering the Land and Improvements, issued by the Title Company pursuant to the Title
Commitment, including all standard and general exceptions and exclusions raised in such form of owner’s policy. 
     (mm)     Warranties.   All guarantees and warranties of contractors, materialmen, manufacturers, mechanics or suppliers who have
been engaged by Seller or its predecessor in interest or any of its agents to furnish labor, materials, equipment or supplies to all or any portion of the Property. 

  
 5 

  
 ARTICLE 2

 PURCHASE AND SALE 

2.1        Purchase and Sale. Subject to the conditions and on the
terms contained in this Agreement: 

    (a)        Buyer agrees to purchase and
acquire from Seller, and Seller agrees to sell and transfer to Buyer (i) the Land and Building by the Deed, and (ii) any and all of Seller’s right, title and interest in the balance of the Real Property. 

    (b)        Buyer agrees to purchase and
acquire from Seller, and Seller agrees to sell, assign, convey and transfer to Buyer, Seller’s interest, as landlord, in, to and under the JPMorgan Lease (as defined in Section 4.3 below), and any and all of Seller’s right, title and
interest in and to the following items: (i) the Contracts, (ii) the Licenses and Permits, and (iii) the Warranties, but in each instance without any obligation of Seller to pay any fee to, or to obtain any further consent from, any
third party. Notwithstanding the above, to the extent Buyer requests in writing that Seller terminate any of the Contracts and to the extent such Contracts can be terminated by their terms without penalty or any other termination payment, Seller
will send notice of termination for such Contracts on the Closing Date following the Closing hereunder. 
     (c)        Buyer agrees to purchase and acquire from Seller, and Seller agrees to sell, convey, assign and transfer to Buyer, all of
Seller’s right, title and interest in and to the Personal Property, by good and sufficient quit-claim bill of sale, specifically excluding any warranties of quality, merchantability or fitness for a particular purpose. 

ARTICLE 3 
 DEPOSIT AND PURCHASE PRICE 

3.1        Earnest Money Deposit in Escrow. Within one
(1) business day following Buyer’s execution and delivery of this Agreement, (i) the parties shall establish a strict joint order escrow with Escrowee, and (ii) Buyer shall cause the Initial Earnest Money to be deposited with
Escrowee in such joint order escrow (and if Buyer fails to so timely deposit such Initial Earnest Money then, without limitation of other remedies available to Seller on account of such default, Seller shall have the right to immediately terminate
this Agreement and all further rights and obligations hereunder (other than those which, pursuant to the terms of this Agreement, expressly survive any termination of this Agreement), by written notice thereof to Buyer). If Buyer elects to extend
the Closing Date as provided in Section 1.1(f)(ii) hereof, then, as a condition to such extension, Buyer shall cause the Extension Deposit to be deposited with Escrowee, in such escrow account no later than two (2) business days prior to
the initially-scheduled Closing Date hereunder (and if Buyer fails to so timely deposit such Extension Deposit then Buyer shall be deemed to have failed to validly exercise its right to extend the Closing Date hereunder). From and after the
expiration of the Contingency Period, the Earnest Money Deposit shall be deemed earned by Seller and shall be non-refundable to Buyer except as otherwise expressly provided herein. The Earnest Money Deposit (and interest thereon net of

  
 6 

 
any investment charges) shall be applied against the Purchase Price at Closing, as more specifically provided in Section 3.2 below. The Earnest Money Deposit shall also secure Buyer’s
obligations contained in Section 5.2; any release of the Earnest Money shall be conditioned upon Buyer paying the amounts due or having performed the obligations specified in such section. Escrowee shall be directed by the parties to invest the
entire Earnest Money Deposit in an interest bearing money market account, with interest thereon being applied on account of the Purchase Price at Closing, or if Closing does not occur for any reason, then such interest shall be paid to the party
entitled to the Earnest Money Deposit hereunder. The parties shall direct Escrowee to disburse the Earnest Money Deposit with interest earned thereon (net of any investment charges), to the party entitled to the same as set forth in this Agreement,
or as otherwise provided in Section 3.3 below. The refund of the Earnest Money Deposit, at the discretion of Seller, may be conditioned upon the execution and delivery by Buyer to Seller of an instrument in recordable form that disclaims any
and all continuing right, title and interest in and to the Property. 

3.2        Purchase Price and Handling of Earnest Money
Deposit.   At the Closing, upon the terms and conditions set forth in this Agreement, Buyer shall pay the Purchase Price, subject to prorations and adjustments, by wire transfer of collected federal funds. The Earnest Money Deposit
(and interest thereon net of any investment charges) shall be (i) paid to Seller and applied against the Purchase Price at Closing, or (ii) disbursed in accordance with the terms of this Agreement if Closing does not occur as contemplated
hereby, subject to the provisions contained in Section 3.1. 

3.3        Closing Escrow.   On or prior to the Closing
Date, the parties shall establish a deed and money escrow with the Escrowee through which the transaction contemplated hereby shall be closed. Upon opening of said escrow, the Earnest Money Deposit (plus interest thereon net of any investment
charges) shall be disbursed from the above-described strict joint order escrow with Escrowee and deposited in the deed and money escrow. The escrow instructions for the deed and money escrow shall be in the form customarily used by the Escrowee with
such special provisions added thereto as may be required to conform to the provisions of this Agreement. Said deed and money escrow shall be auxiliary to this Agreement and this Agreement shall not be merged into nor in any manner superseded by said
deed and money escrow. The escrow costs and fees for each of the escrow accounts described in this Article 3 shall be equally divided between Buyer and Seller. 
 ARTICLE 4 
 TITLE AND SURVEY 

4.1        Title.   Seller shall use good faith efforts
to obtain and deliver to Buyer, within five (5) business days following the Contract Date, the Title Commitment, together with a copy of each recorded document raised as an exception therein. Buyer shall have the right to review the Title
Commitment and all exceptions to title referenced in the Title Commitment and object to any matters reflected on the Title Commitment or the Survey or any Updated Survey, by delivering written notice thereof to Seller on or before three
(3) business days prior to the end of the Contingency Period. Except for Monetary Liens (as hereinafter described), Seller may, but shall have no obligation to, have any exceptions to title referenced in the Title Commitment (or

  
 7 

 
in any update thereto prior to Closing) and so objected to by Buyer or any exceptions to the Survey or any Updated Survey so objected to by Buyer, removed from the Title Commitment or the Survey
or Updated Survey (as the case may be) or insured or endorsed over by the Title Company. Notwithstanding the foregoing, any delinquent real property taxes, deeds of trust, mortgages and, to the extent arising out of the acts of Seller,
mechanic’s liens (specifically excluding liens created by, through or under tenants or securing the rights of other parties under the Contracts) (collectively, “Monetary Liens”), disclosed on any Title Commitment shall be
automatically deemed unpermitted exceptions, and Seller shall cause all such Monetary Liens disclosed in the Title Commitment to be removed therefrom or insured or endorsed over by the Title Company on or before the Closing Date. If Seller fails to
cause the Title Company to have all exceptions to the Title Commitment or the Survey or any Updated Survey so objected to by Buyer removed (or committed to be removed by the Title Company) from the Title Commitment or removed from the Survey or
Updated Survey (as the case may be) or committed to be insured or endorsed over by the Title Company, on or before the Due Diligence Approval Date, Buyer may elect, by written notice delivered to Seller on or before the Due Diligence Approval Date,
as its sole and exclusive recourse, to either (i) terminate this Agreement, in which event the Earnest Money Deposit and any interest thereon, shall be forthwith returned to Buyer, subject to the disbursement and payment release conditions set
forth in Section 3.1, all obligations of the parties hereunder shall terminate (other than those matters which expressly survive the early termination of this Agreement), and this Agreement shall otherwise have no further force and effect, or
(ii) accept title to the Property subject to all such exceptions which the Title Company has not so removed (or committed to be removed) or committed to insure or endorse over or which were not so removed from the Survey or Updated Survey (as
the case may be), all of which shall thereafter be deemed “Permitted Title Exceptions,” hereunder; provided, however, that with respect to any Monetary Liens disclosed on the Title Commitment, Seller shall not be obligated to have the
Title Company remove (or commit to remove) or commit to insure or endorse over same prior to the Due Diligence Approval Date and, instead, Seller shall simply be required to have same removed, or insured or endorsed over, by the Title Company on or
prior to the Closing Date. Buyer’s failure to make either election on or before the Due Diligence Approval Date shall be deemed an election under clause (ii) above. On the Closing Date, subject to the provisions of Section 11.7 below,
Seller shall cause the Title Company to issue the Title Policy (or “marked-up” title commitment unconditionally committing the Title Company to issue such Title Policy) to Buyer, pursuant to and in accordance with the Title Commitment,
insuring Buyer’s fee simple title in the Land and Building thereon as of the Closing Date in the amount of the Purchase Price, subject only to the Permitted Title Exceptions and such other exceptions as Buyer may approve (or be deemed to have
approved) pursuant to this Agreement. Buyer shall have the right, at any time prior to Closing, to cause the Title Company to issue such endorsements (“Buyer Endorsements”) to the Title Policy as Buyer shall deem necessary
(including, without limitation “extended coverage”), at Buyer’s sole cost and expense and without obligation on the part of Seller to obtain such Buyer Endorsements; provided that Seller shall make good faith efforts to assist Buyer
in obtaining such Buyer Endorsements, provided, further, however, that (i) Seller shall have no obligation to obtain such Buyer Endorsements, to incur any additional costs in connection with procuring such Buyer Endorsements or to obtain any
consents, approvals or estoppel certificates from third parties in connection with procuring such Buyer Endorsements, and (ii) Buyer’s ability or inability to obtain such Buyer Endorsements shall not constitute a condition precedent to
Buyer’s obligations under this 

  
 8 

 
Agreement. For purposes of this Agreement, an exception referenced in the Title Commitment (or any update thereto) objected to by Buyer or otherwise constituting an unpermitted exception
hereunder, or a Survey or Updated Survey matter objected to by Buyer, shall be considered to be “insured or endorsed over” only if the same is effected by the issuance of title insurance or a commitment for title insurance
eliminating or insuring against the effect of the title or survey matter (subject, in the case of any endorsement insuring over such matter, to Buyer’s reasonable prior approval of the form and content of such endorsement). 

4.2        Survey.   Buyer and Seller agree that
(i) within five (5) business days following the Contract Date, Seller shall deliver the Survey to Buyer, (ii) prior to the Closing Date, Buyer may obtain, at its expense (except to the extent same is Seller’s expense under
Section 10.3 below), a new or an updated survey of the Land (in any such case, an “Updated Survey”), (iii) all matters disclosed on the Survey and any Updated Survey (or which would be disclosed on any Updated Survey) not
objected to by Buyer on or before three (3) business days prior to the end of the Contingency Period, as required under Section 4.1 above, shall be deemed “Permitted Title Exceptions” hereunder, (iv) Seller may, but shall
have no obligation to, have any matters disclosed on the Survey or any Updated Survey (or which would be disclosed on any Updated Survey) and which are objected to by Buyer pursuant to Section 4.1 above removed from the Survey or Updated Survey
or removed from or insured or endorsed over by the Title Company, and (v) if Buyer does not terminate this Agreement on or before the Due Diligence Approval Date, pursuant to Section 4.1 above, then all matters disclosed on the Survey and
on any Updated Survey shall be deemed “Permitted Title Exceptions” for all purposes of this Agreement. 
 4.3        Tenant Estoppels.  Following the Contract Date (which may, at Seller’s election, be within a reasonable time after the
Contingency Period), Seller shall deliver an estoppel letter to JPMorgan Chase Bank, National Association (“JPMorgan”) as tenant under that certain Agreement of Office Lease dated February 9, 2010 between Seller, as landlord,
and JPMorgan, as tenant (as amended from time to time, the “JPMorgan Lease”), conforming with the estoppel requirements of the JPMorgan Lease (the “Required Lease Estoppel Form”). In that regard, Seller and Buyer
hereby acknowledge that, as of the date hereof, JPMorgan is the sole tenant of the Building and that JPMorgan may have subtenants. Promptly after receipt from JPMorgan, Seller shall deliver such tenant’s estoppel letter to Buyer. All estoppel
letters described in this Section 4.3 shall be dated not earlier than thirty (30) days prior to the Closing Date (provided, however, that if the initially-scheduled Closing Date set forth in this Agreement is extended for any reason [other
than a Seller default hereunder or pursuant to Seller’s right to extend the Closing Date under Section 1.1(f) above] then any estoppel letter described in this Section 4.3 which is dated within thirty (30) days of said
initially-scheduled Closing Date shall be deemed to satisfy the requirements of this Section 4.3 concerning the required date of estoppel letters, and Seller shall have no obligation to cause same to be dated-down or re-executed). Buyer’s
obligation to proceed to Closing shall be conditioned upon satisfaction of the following conditions, provided that Buyer may in its sole discretion elect to waive failure by Seller to satisfy any particular condition: 

    (a)        Seller shall use good faith
efforts to deliver to Buyer, on or before the Closing Date, the Required Lease Estoppel Form executed by JPMorgan with respect to its Lease at the Building (with such non-material modifications or disclosures as JPMorgan shall make thereto) (the
“Estoppel Threshold”). For purposes of the 

  
 9 

 
preceding sentence, a “non-material” modification or disclosure shall mean a modification or disclosure which is not inconsistent, in any material respect, with any of Seller’s
representations or warranties contained in this Agreement (except to the extent that the subject of such inconsistency has been heretofore otherwise disclosed to Buyer in this Agreement, the Due Diligence Materials or otherwise) and does not allege
a default by Seller under the JPMorgan Lease. 
 If, on or before the Closing Date (as same may be extended as described in
Section 1.1(f) above), Seller is unable to satisfy the Estoppel Threshold, then Seller will not be in default by reason thereof, but Buyer shall, by notice given to Seller before the Closing, elect, as its sole recourse therefor, either
(i) to waive said conditions and proceed with the Closing, accepting the Property subject thereto, or (ii) to terminate this Agreement, in which event the Earnest Money Deposit shall be returned to Buyer, subject to the disbursement and
payment release conditions set forth in Section 3.1, and the parties shall have no further liability or obligations to each other hereunder (other than those liabilities and obligations that expressly survive a termination of this Agreement).
Buyer’s failure to elect either (i) or (ii) above, in writing to Seller, on or before the Closing Date (as same may be extended as aforesaid) shall be deemed an election of option (i) set forth in this Section 4.3.

 ARTICLE 5 
 DUE DILIGENCE 

5.1        Due Diligence Materials.   The parties hereby
acknowledge that Seller has heretofore furnished to Buyer (or made available to Buyer), or will make available to Buyer during the Contingency Period, copies of the Due Diligence Materials, to the extent in the possession of Seller. Seller makes no
representation or warranty concerning the accuracy or completeness of any of the Due Diligence Materials. 

5.2        Inspection.  During the Contingency Period (but
ending, in any event, as of any earlier termination of this Agreement), Seller shall permit Buyer, its officers, agents and employees (collectively, “Buyer’s Representatives”) access to, entry upon and the opportunity to
examine, inspect, measure and test the Real Property (herein collectively, the “Inspections”). From and after the Due Diligence Approval Date through the Closing (or earlier termination of this Agreement), Buyer’s
Representatives may perform additional Inspections in accordance with the provisions of this Agreement. Any access by Buyer’s Representatives to perform Inspections shall be subject in all respects to Seller’s and the tenants’ rights
under the Leases at the Real Property. Any entry by Buyer’s Representatives upon the Real Property shall be in compliance with all permits, codes, regulations, rules, laws, statutes and other requirements of any governmental body, agency or
authority having jurisdiction over the Property, as well as the requirements of any Leases, ground leases and any private covenants, restrictions and easements of record. Any invasive testing of the Real Property (including the scope thereof and the
identity of the Buyer’s Representatives performing such testing) shall require Seller’s consent, which consent may be withheld in Seller’s sole discretion (it being agreed, however, that standard inspections for a customary Phase I
environmental site assessment of the Property (the “Phase I Study”) and an engineer’s structural report respecting the Improvements (the “Structural Report”) shall be permitted, subject in all respects,
however, to the rights of the tenants under 

  
 10 

 
the Leases at the Real Property to permit or consent to same or to otherwise permit or consent to any other Inspections hereunder, and subject to the other terms and conditions regarding
Inspections hereunder). The costs of conducting and obtaining any such Phase I Study and the Structural Report or of otherwise performing any other Inspections shall be the responsibility of Buyer. If Buyer fails to close the transactions
contemplated by this Agreement for any reason other than Seller’s default, or in any case, upon Seller’s request therefor from time to time, Buyer shall promptly deliver to Seller a copy of any written report or study relating to the
Property prepared for Buyer by any third party consultant or other third party Buyer Representative; provided, however, any such reports or studies shall be delivered without any representation or warranty as to the accuracy or completeness of such
report or study. Any entry upon the Land or Improvements by Buyer or Buyer’s Representatives for the purpose of conducting such Inspections shall be upon not less than twenty-four (24) hours prior notice to Seller prior to any entry upon
the Land or Improvements for the purpose of conducting such Inspections, and shall be subject, in any event, to prior scheduling and coordination with Seller. At Seller’s election, a representative of Seller shall be present during any entry by
Buyer or Buyer’s Representatives upon the Land or Improvements to conduct the Inspections. Buyer shall not cause or permit any mechanic’s liens, materialmen’s liens or other liens to be filed against the Property as a result of the
Inspections. Buyer shall furnish Seller with evidence of commercial general liability insurance having coverage limits of at least Two Million and 00/100 US Dollars ($2,000,000), together with such other insurance as Seller may reasonably require
Buyer to carry against liabilities which may arise in connection with the Inspections. All Inspections shall be performed in a manner that will not disturb the ongoing operations at the Real Property, nor cause any damage, loss, disturbance to
business, cost or expense to, or claims against, Seller or the Property. Prior to Closing (or earlier termination of this Agreement), Buyer shall not approach, contact or involve itself in any discussions or negotiations with any tenant of the Real
Property under any Lease or with any other occupant of the Real Property, without Seller or its representative being present thereat. Buyer shall in no event (i) request or initiate any inspections of the Property by any governmental or
quasi-governmental entities or agencies, and (ii) involve itself in any discussions with governmental or quasi-governmental entities concerning the Property without Seller being present at such discussions and pre-approving (in its sole
discretion) the scope and content of such discussions. Buyer shall promptly repair and restore any damage to the Property caused by the prior or any subsequent entry upon the Land or Improvements by Buyer or the other Buyer’s Representatives.
Buyer shall indemnify, defend and hold harmless Seller and Seller’s officers, directors, shareholders, partners, members, managers, tenants, agents and employees (collectively, the “Seller Indemnified Parties”), from and
against any and all actions, losses, costs, damages, claims, liabilities, and expenses (including litigation expenses and court costs and reasonable attorney’s fees) brought, sought or incurred by or against any of the Seller Indemnified
Parties resulting from, arising out of, or in any way relating to, entry upon the Land or Improvements by Buyer or any of the other Buyer’s Representatives or otherwise in any way related to the Inspections, whether conducted prior to, as of or
subsequent to the Contract Date, or any violation of the provisions of this Section 5.2. The foregoing indemnification and repair and restoration obligations (herein collectively referred to as “Buyer’s Indemnity”) shall
expressly survive the Closing or any earlier termination of this Agreement. 

5.3        Due Diligence Termination.   The obligation of
Buyer to close the transaction contemplated hereby is subject to Buyer’s review of, approval of and satisfaction with, at its sole 

  
 11 

 
cost and expense, on or before the Due Diligence Approval Date, the Due Diligence Materials, the Title Commitment, the Survey, any Updated Survey, the results of the Inspections and all other
matters respecting Buyer’s investigation of the Property. If Buyer, in its sole and absolute discretion, is not satisfied with any of the foregoing matters, then Buyer shall have the right to terminate this Agreement by delivery to Seller of
written unconditional notice thereof delivered at any time prior to 5:00 p.m., Central Time, on the Due Diligence Approval Date, in which event the Earnest Money Deposit and all interest earned thereon (net of investment charges) shall promptly
be returned to Buyer, subject to the disbursement and payment release conditions set forth in Section 3.1, in which case this Agreement shall become null and void and neither party shall have any further rights and obligations hereunder
(subject, however, to survival of Buyer’s Indemnity and other matters herein which expressly survive the early termination of this Agreement). Buyer’s failure to timely deliver its termination notice as provided in this Section 5.3
shall be deemed a waiver of Buyer’s contingencies described in this Section 5.3 and otherwise in this Agreement, whereupon the parties shall proceed to close the transaction contemplated by this Agreement as provided herein, and the
Earnest Money Deposit shall be deemed non-refundable (except as otherwise expressly provided herein). Buyer hereby acknowledges that (i) it has heretofore had, and/or through the end of the Contingency Period it shall have, ample opportunity to
review and analyze the Due Diligence Materials, the Title Commitment, the Survey, any Updated Survey, the results of the Inspections and all other matters respecting the Property, and (ii) in the event this Agreement is not otherwise terminated
by Buyer prior to the end of the Contingency Period, as permitted under this Section 5.3 or under Article 4 above, then any future Inspections Buyer may conduct following the Contingency Period are solely being permitted as an accommodation to
Buyer and the results of same shall in no event be deemed to grant Buyer any further contingency under this Agreement or serve as the basis for any right of Buyer to terminate this Agreement. 

ARTICLE 6 
 REPRESENTATIONS AND WARRANTIES 

6.1        Representation and Warranties of Seller. To induce Buyer
to execute, deliver and perform this Agreement, Seller hereby represents and warrants to Buyer the following on and as of the Contract Date: 
     (a)        Authority.     Seller is a duly organized and validly existing limited partnership in good
standing under the laws of the State of Delaware. Seller has full capacity, right, power and authority to execute, deliver and perform this Agreement and all documents to be executed by Seller pursuant hereto, and all required action and approvals
therefor have been duly taken and obtained. The individuals signing this Agreement and all other documents executed or to be executed pursuant hereto on behalf of Seller are and shall be duly authorized to sign the same on Seller’s behalf and
to bind Seller thereto. This Agreement and all documents to be executed pursuant hereto by Seller are and shall be binding upon and enforceable against Seller in accordance with their respective terms. 

    (b)        Contracts. 
  Attached as Exhibit C to this Agreement and incorporated herein by this reference is a true, correct and complete schedule in all material respects of 

  
 12 

 
all currently existing Contracts of which Seller has knowledge. Except as may be disclosed in the Due Diligence Materials or other documents delivered or made available to Buyer, Seller has not
received any currently effective notice in writing of any uncured material breach or default under any of the Contracts, the existence of which would have a material adverse effect on the operation or value of the Property. 

    (c)        Licenses and Permits and
Warranties.  Seller has heretofore delivered to Buyer (or made available to Buyer as part of the Due Diligence Materials) all currently existing Licenses and Permits and Warranties which are currently in Seller’s possession. Except
as disclosed in the Due Diligence Materials, Seller has not received any currently effective notice in writing of any uncured material breach or default under any of the Licenses and Permits or the Warranties, the existence of which would have a
material adverse effect on the operation or value of the Property. 

    (d)        Violations of
Laws.   Except as disclosed in Exhibit D, Seller has not received any currently effective notice in writing from any applicable governmental authority of any violation of any Legal Requirements pertaining to the Property
which has not been entirely corrected. 

    (e)        Litigation. 
    Except as set forth on Exhibit E to this Agreement and incorporated herein by this reference, to Seller’s knowledge there is no pending litigation or other proceeding against Seller related to the Property
(including without limitation any condemnation action), other than claims which are fully covered by insurance. 
     (f)        Condemnation.     Except as may be set forth in the Due Diligence Materials, Seller has not
received any written notice from any governmental or quasi-governmental authority regarding an existing or pending condemnation of any part of the Real Property. 

    (g)        No Conflict or
Violation. Neither the execution, delivery or performance of this Agreement by Seller, nor the consummation of the transactions contemplated hereby will (a) violate or conflict with any provision of the organizational documents of
Seller, or (b) violate any order, judgment, injunction, award or decree of any court or arbitration body, by or to which Seller or the Property are or may be bound or subject. 

    (h)        Bankruptcy. 
  No voluntary, and to Seller’s knowledge no involuntary, attachments, execution proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other insolvency related proceedings are pending against
Seller. 

    (i)        FIRPTA
Representation.   Seller is not a “foreign person” within the meaning of Section 1445 of the Code (as defined below). 

    (j)        Leases. 
  Attached as Exhibit F to this Agreement is a true, correct and complete list of all currently existing Leases at the Property to which Seller is a party. 

  
 13 

  
     (k)        Representative.  Michael Speer is the person employed by an affiliate of Seller who is responsible, on behalf
of the Seller, for the asset management of the Real Property. 

6.2        Limitations.   Seller’s liability for
breaches of the representations and warranties contained in this Agreement and for other matters shall be limited as follows: 
     (a)        Generally.     All representations and warranties of Seller set forth in Section 6.1
above, as well as Buyer’s right to enforce its remedies hereunder for any breach of the same, shall survive the Closing for twelve (12) months (i.e., meaning that Buyer must give notice in writing to Seller of such claim, in reasonable
detail, prior to the expiration of said 12-month period and commence a claim therefor in a court of competent jurisdiction within sixty (60) days thereafter). In the event that Buyer has knowledge, through its due diligence investigations or
otherwise, that any of the representations or warranties made by Seller under this Agreement were not true or correct when made or that Seller has breached a covenant hereunder, and if Buyer nevertheless closes the transaction contemplated by this
Agreement, then Buyer shall be deemed to have waived any such representation and warranty or covenant breach (as applicable) and shall have no further claim against Seller with respect thereto. Further, Buyer shall have no recourse against Seller to
enforce or seek damages (i.e., in each case, whether under Section 12.2 below or otherwise) for any breach of representations and warranties unless the total damage resulting from such breaches, in the aggregate, exceeds Fifty Thousand and
00/100 US Dollars ($50,000.00) (provided that once such threshold amount has been reached, Buyer shall be entitled to recourse against Seller for the dollar value of all aggregate claims), subject in any event to the other terms, conditions and
limitations set forth in this Agreement. 

    (b)        Seller’s
Knowledge.  As used herein, the phrase “to Seller’s knowledge” and words of similar import shall mean the actual knowledge as of the date when the subject representation and warranty making reference to such phrase
is being made hereunder, of Michael Speer, being a Vice President of BREOF BNK3A GP LLC, a Delaware limited liability company, which entity is the sole general partner of Seller. 

    (c)        Buyer’s
Knowledge.    For purposes hereof, Buyer’s “knowledge” or “actual knowledge” shall be deemed to be the actual knowledge of Peter A. Mitchell, being an officer of Buyer or its affiliate, after
inquiry of those employees and consultants of Buyer that have conducted the due diligence investigation on behalf of Buyer, provided that such individual shall also be deemed to have actual knowledge of all matters disclosed by the Due Diligence
Materials and any other documentation of Seller which was delivered to, or make available for review by, Buyer, and of all matters disclosed by any of Buyer’s Inspections conducted by Buyer or Buyer’s Representatives pursuant to this
Agreement. 

    (d)        Aggregate
Liability. Except for Seller’s obligations under Article 13 and Seller’s reproration obligations under Article 10 and without limiting Buyer’s specific performance remedy under Section 12.2, Seller’s aggregate
liability to Buyer under this Agreement and under any of the other provisions contained in the documents being 

  
 14 

 
delivered pursuant to Section 11.2 hereof shall in no event exceed Seven Hundred Fifty Thousand and 00/100 US Dollars ($750,000.00). 

    (e)        No Liability for
Consequential or Punitive Damages.  Seller shall in no event be liable to Buyer under this Agreement and under any of the documents being delivered pursuant to Section 11.2 hereof for consequential, special or punitive damages.

    (f)        Joinder. 
  BREOF BNK3 LP, an affiliate of Seller, has joined in the execution of this Agreement for the purpose of evidencing its agreement to be bound by the provisions of this Section 6.2, all as otherwise set forth in the “Seller
Joinder” attached to this Agreement. 

6.3        Representations and Warranties of Buyer. To induce
Seller to execute, deliver and perform this Agreement, Buyer hereby represents and warrants to Seller the following on and as of the Contract Date: 

    (a)        Authority. 
    Buyer is a duly organized and validly existing limited partnership in good standing under the laws of the State of Delaware. Buyer has full capacity, right, power and authority to execute, deliver and perform this Agreement and all
documents to be executed by Buyer pursuant hereto, and all required action and approvals therefor have been duly taken and obtained. The individuals signing this Agreement and all other documents executed or to be executed pursuant hereto on behalf
of Buyer are and shall be duly authorized to sign the same on Buyer’s behalf and to bind Buyer thereto. This Agreement and all documents to be executed pursuant hereto by Buyer are and shall be binding upon and enforceable against Buyer in
accordance with their respective terms. 

    (b)        No Conflict or
Violation.  Neither the execution, delivery or performance by Buyer of this Agreement, nor the consummation of the transaction contemplated hereby will: (a) violate or conflict with any provision of Buyer’s organizational
documents; or (b) violate any order, judgment, injunction, award or decree of any court or arbitration body, or any other body, by or to which Buyer is or may be bound or subject. 

    (c)        Approvals. 
No approval or consent of any governmental, administrative or regulatory body or any other person or entity is required for the execution, delivery or performance by Buyer of this Agreement, or any related documents or instruments, to which Buyer is
a party. Without limitation of the foregoing, Buyer represents that it has all corporate or other entity-level approvals necessary to execute and deliver and perform this Agreement as of the date hereof, and to be responsible for all obligations and
liabilities set forth herein. 

    (d)        Bankruptcy. 
No voluntary, and to Buyer’s knowledge no involuntary, attachments, execution proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other insolvency-related proceedings are pending against Buyer.

  
 15 

  
 All
representations and warranties of Buyer set forth in this Section 6.3 as well as Seller’s right to enforce its remedies hereunder for any breach of the same, shall survive the Closing for a period of twelve (12) months (i.e., meaning
that Seller must give notice in writing to Buyer of such claim, in reasonable detail, prior to the expiration of said 12-month period and commence a claim therefor in a court of competent jurisdiction within sixty (60) days thereafter).

 6.4        AS-IS.   EXCEPT FOR THOSE
REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 6.1 ABOVE AND IN SECTION 13.1 BELOW AND IN ANY DOCUMENT EXECUTED AND DELIVERED BY SELLER AT CLOSING, AND EXCEPT FOR THE WARRANTY OF TITLE IN THE DEED TO BE DELIVERED AT CLOSING, BUYER
ACKNOWLEDGES THAT IT IS NOT RELYING ON ANY REPRESENTATIONS OR WARRANTIES WHATSOEVER BY SELLER OR ANY AGENT OR EMPLOYEE THEREOF REGARDING THE PROPERTY (INCLUDING, WITHOUT LIMITATION, ITS PHYSICAL CONDITION, ITS SUITABILITY FOR ANY PARTICULAR PURPOSE,
ITS COMPLIANCE WITH LAWS [INCLUDING, WITHOUT LIMITATION, ENVIRONMENTAL LAWS, OR THE ABSENCE OF HAZARDOUS SUBSTANCES THEREUPON]), AND SELLER EXPRESSLY DISCLAIMS ANY AND ALL SUCH REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, EXCEPT FOR ANY
LIMITED WARRANTIES CONTAINED IN SECTION 6.1 ABOVE AND IN SECTION 13.1 BELOW AND EXCEPT FOR THE WARRANTY OF TITLE IN THE DEED TO BE DELIVERED AT CLOSING. EXCEPT FOR THOSE REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 6.1 ABOVE AND EXCEPT FOR
THE WARRANTY OF TITLE IN THE DEED TO BE DELIVERED AT CLOSING, BUYER SHALL ACCEPT THE PROPERTY IN ITS “AS IS”, “WHERE IS”, “WITH ALL FAULTS” CONDITION, AND SELLER HEREBY DISCLAIMS ANY WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE, EXPRESS OR IMPLIED. 
 EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS
AGREEMENT, SELLER MAKES NO REPRESENTATION OR WARRANTY AS TO THE TRUTH, ACCURACY OR COMPLETENESS OF ANY MATERIALS, DATA OR OTHER INFORMATION DELIVERED OR MADE AVAILABLE BY SELLER TO BUYER IN CONNECTION WITH THE TRANSACTION CONTEMPLATED HEREBY
(INCLUDING, WITHOUT LIMITATION, THE DUE DILIGENCE MATERIALS). 
 BUYER ACKNOWLEDGES THAT IT IS A SOPHISTICATED
REAL ESTATE BUYER WHO HAS HERETOFORE HAD AND/OR SHALL DURING THE CONTINGENCY PERIOD HAVE OPEN ACCESS TO, AND SUFFICIENT TIME TO REVIEW, ALL INFORMATION, DOCUMENTS, AGREEMENTS, STUDIES AND TESTS RELATING TO THE PROPERTY THAT BUYER DEEMED OR DEEMS
NECESSARY TO REVIEW IN ITS SOLE DISCRETION, AND HAS OR HEREAFTER SHALL HAVE CONDUCTED A COMPLETE AND THOROUGH INSPECTION, ANALYSIS AND EVALUATION OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO ENVIRONMENTAL TESTING. BUYER HEREBY RELEASES SELLER, ITS
CONSTITUENT OWNERS, AND THEIR RESPECTIVE AGENTS AND EMPLOYEES, FROM ANY AND ALL LIABILITY, RESPONSIBILITY, CLAIMS, DAMAGES, LOSSES AND EXPENSES ARISING OUT OF OR RELATED TO THE CONDITION OF THE PROPERTY OR ITS SUITABILITY FOR

  
 16 

 
ANY PURPOSE, EXCEPT FOR ANY LIABILITY OF SELLER EXPRESSLY SET FORTH HEREIN. 
 BUYER HAS UNDERTAKEN OR HEREAFTER SHALL UNDERTAKE SUCH INVESTIGATION AS BUYER DEEMED OR DEEMS NECESSARY TO MAKE BUYER FULLY AWARE OF THE CONDITION OF THE PROPERTY AS WELL AS ALL FACTS, CIRCUMSTANCES AND
INFORMATION WHICH MAY AFFECT THE USE AND OPERATION OF THE PROPERTY, AND BUYER COVENANTS AND WARRANTS TO SELLER THAT BUYER HAS RELIED AND SHALL RELY, EXCEPT TO THE EXTENT OF SELLER’S REPRESENTATIONS AND WARRANTIES CONTAINED IN SECTION 6.1
ABOVE AND IN SECTION 13.1 BELOW AND EXCEPT FOR THE WARRANTY OF TITLE IN THE DEED TO BE DELIVERED AT CLOSING, SOLELY ON BUYER’S OWN DUE DILIGENCE INVESTIGATION IN DETERMINING TO PURCHASE THE PROPERTY. THE PROVISIONS OF THIS SECTION 6.4 SHALL
SURVIVE THE CLOSING OR EARLIER TERMINATION OF THIS AGREEMENT AND SHALL BE INCORPORATED INTO THE CLOSING DOCUMENTS TO BE DELIVERED AT CLOSING. 
 6.5        Release. Without limiting the provisions of Section 6.4 above, as a continuing obligation surviving the Closing and the transfer and
conveyance of the Property hereunder, Buyer hereby acknowledges and agrees that, effective upon Closing, Buyer shall be deemed to have covenanted and agreed to release Seller and Seller’s “Releasees” (as hereinafter defined) from and
against any and all loss, damage, claim, costs and expense (including, without limitation, actual attorneys’ fees, charges and costs) and any other liability whatsoever, whether foreseen or unforeseen, arising out of or relating to the physical
condition of the Property or any portion thereof (including, without limitation, the environmental condition of the Property), regardless of whether such condition arose or came into existence before, on or after the Closing Date. Seller’s
“Releasees” shall mean Seller, its partners, members, and their respective successors and assigns (including, without limitation, an accommodation party substituted as Seller for purposes of effecting a like-kind exchange),
officers, directors, managers, agents, employees, attorneys, shareholders, and the parents, subsidiaries and affiliated companies of same. Without limiting the foregoing, from and after the execution of this Agreement, the provisions of this
Section 6.5 shall continue to be effective with respect to each Seller’s Releasee irrespective of whether thereafter such Releasee assigns or has purported to assign or otherwise dispose of its interest or any portion of its
interest, under this Agreement or in the Property. The provisions of this Section 6.5 shall survive the Closing and shall be incorporated into the closing documents delivered at Closing. 

ARTICLE 7 
 SELLER’S COVENANTS 

7.1        Covenants.  Seller covenants and agrees to the
following: 

    (a)        Title. Except as
otherwise specifically contemplated in this Agreement or as may be required by Legal Requirements, and without limiting any rights tenants may have under their Leases, from and after the Contract Date to the Closing Date (or any

  
 17 

 
earlier termination of this Agreement), Seller shall not further encumber title to the Property in any consensual manner. 

    (b)        Contracts. 
     Except as otherwise specifically contemplated in this Agreement, and without limiting any rights tenants may have under their Leases, from and after the Contract Date and until Closing (or any earlier termination of this
Agreement), Seller agrees not to enter into any contracts or agreements after the date hereof, to which the Buyer or the Property may be or may become subject without the express written approval of Buyer (not to be unreasonably withheld), except,
however, for those entered into in the ordinary course of business or those which are cancelable on thirty (30) days’ notice or less. 
     (c)        Leasing.    From and after the Contract Date and until Closing (or any earlier termination of
this Agreement), Seller may not, without Buyer’s consent, enter into Leases, or any amendments, expansions, terminations and/or renewals of Leases (except for such matters as may be otherwise required under the existing terms of the Leases).

 ARTICLE 8 
 CONDITIONS PRECEDENT 

8.1        Conditions Precedent to the Obligations of
Buyer.    Buyer’s obligation to acquire the Property pursuant to this Agreement shall be subject to the satisfaction, prior to the Closing Date, of all of the following conditions precedent, each of which may be
waived by Buyer in its sole discretion: 

    (a)        Seller shall have performed, in
all material respects, all of its covenants and obligations under this Agreement; and 

    (b)        Seller shall have timely
executed and delivered to Escrowee all of the items referred to in Section 11.2 hereof. 

    (c)        The JPMorgan Lease shall be in
full force and effect. 

    (d)        All of the representations and
warranties of Seller contained in Section 6.1 shall be true and correct, in all material respects, as of the Closing Date, as it may be extended by Seller pursuant to Section 1.1(f) (or, if applicable, as of any earlier date when Closing
was otherwise scheduled to occur hereunder in the absence of any exercise by Buyer of its right to extend the Closing Date as contemplated under Section 1.1(f)(ii) above), in each case with the same not being “cured” by Seller such
that the same are true and correct in all material respects as provided and during the same cure periods as described in Section 12.2 below. 

    (e)        The “Estoppel
Threshold” shall have been satisfied pursuant to the terms and conditions of Section 4.3 above. 

  
 18 

  
 If any of the
conditions to Buyer’s obligations to acquire the Property under this Section 8.1 have not been satisfied within the time periods and in accordance with the terms set forth herein, then Buyer shall have the right, as its sole recourse, to
terminate this Agreement by written notice to Seller delivered on or before the Closing Date, in which event the Earnest Money Deposit shall be returned to Buyer, subject to the disbursement and payment release conditions set forth in
Section 3.1, all obligations of the parties hereto shall thereupon cease (except for those which survive the early termination of this Agreement as expressly provided herein) and this Agreement shall thereafter be of no further force and
effect, unless such failure of condition constitutes a default on the part of Seller under any other provision of this Agreement, in which case the terms of Section 12.2 shall also apply. 

8.2        Conditions Precedent to the Obligations of
Seller.    Seller’s obligation to sell, convey, assign, transfer and deliver the Property to Buyer pursuant to this Agreement shall be subject to the satisfaction, prior to the Closing Date, of all of the following
conditions precedent, each of which may be waived by Seller in its sole discretion: 

    (a)        Buyer shall have performed, in
all material respects, all of its covenants and obligations under this Agreement; 

    (b)        Buyer shall have tendered the
Purchase Price to Escrowee pursuant to the provisions of this Agreement; and 

    (c)        Buyer shall have timely
executed and delivered to Escrowee all of the items referred to in Section 11.3 hereof. 
 If any of the conditions to
Seller’s obligations to sell the Property under this Section 8.2 have not been satisfied within the time periods and in accordance with the terms set forth herein, then Seller shall have the right, as its sole recourse, to terminate this
Agreement by written notice to Buyer, in which event the Earnest Money Deposit shall be paid to Seller, all obligations of the parties hereto shall thereupon cease (except for those which survive the early termination of this Agreement as expressly
set forth herein) and this Agreement shall thereafter be of no further force and effect, unless such failure of condition constitutes a default on the part of Buyer under any other provision of this Agreement, in which case the terms of
Section 12.1 shall also apply. 
 ARTICLE 9 

DESTRUCTION, DAMAGE OR CONDEMNATION 

9.1        Destruction or Damage.  If, subsequent to the
Contract Date and on or before the Closing Date, all or any material portion of the Real Property shall be destroyed or damaged by one or more incidents of fire or other casualty, Seller shall immediately give Buyer notice of such occurrence, and
Buyer shall on or before the earlier to occur of (i) fifteen (15) days after receipt of such notice and (ii) the then scheduled Closing Date (provided Buyer shall have had not fewer than three (3) business days within which to
make such election, otherwise the Closing Date shall automatically be extended to the business day which will permit Buyer such minimum three (3) business day period), elect by written notice to Seller to (a) terminate this Agreement, in
which event the Earnest Money Deposit and any interest thereon net of any 

  
 19 

 
investment charges shall be returned forthwith to Buyer, subject to the disbursement and payment release conditions set forth in Section 3.1, this Agreement shall be deemed null and void and
neither party shall have any further rights and obligations hereunder (other than those matters which expressly survive early termination of this Agreement); or (b) proceed to close the transaction contemplated hereby as scheduled with no
adjustment to the Purchase Price (provided, however, that Buyer shall have the right to participate with Seller in the adjustment and settlement of any insurance claim relating to said damage, and, to the extent the tenant(s) under the Leases at the
Real Property are not entitled to the insurance proceeds, Seller shall, at Closing, (i) assign to Buyer all of Seller’s interest in any then unpaid insurance proceeds claimed with respect to said loss or damage, and (ii) pay to Buyer
all insurance proceeds theretofore paid to Seller with respect to same and not theretofore used for restoration or repair, plus any deductible amount). Buyer’s failure to give notice within the time period specified above shall be deemed to be
Buyer’s election of option (b) above. For purposes of this Section 9.1, damage to the Real Property shall not be deemed to be “material” under this Section 9.1 unless either (1) the cost of restoring damage
to the Real Property, as determined by an engineer reasonably acceptable to Seller and Buyer, in the aggregate, exceeds One Million Five Hundred Thousand and 00/100 US Dollars ($1,500,000.00), or (2) JPMorgan has the right to terminate the
JPMorgan Lease as a result of such casualty and has not otherwise waived such right, in writing. With respect to any such damage which is not material, Buyer shall have no right to terminate this Agreement provided that closing and insurance
adjustment procedures described in clause (b) above shall still apply. 

9.2        Condemnation.  If, subsequent to the Contract
Date and on or before the Closing Date, any proceeding which shall relate to the proposed taking of any material portion of the Real Property by condemnation or eminent domain is instituted or commenced, Buyer shall have the right and option to
terminate this Agreement or to waive such condition and proceed to Closing, by giving Seller written notice of such election on or before the earlier to occur of (i) fifteen (15) days after receipt of written notification of any such
occurrence or occurrences and (ii) the then scheduled Closing Date (provided Buyer shall have had not fewer than three (3) business days within which to make such election, otherwise the Closing Date shall automatically be extended to the
business day which will permit Buyer such minimum three (3) business day period). Failure to give such election notice within such time shall be conclusive evidence that Buyer has waived the option to terminate by reason of the occurrence or
occurrences of which it has received notice. If Buyer does not elect (or is deemed to have not elected) to terminate this Agreement, the parties shall proceed to close the transaction contemplated hereby and, to the extent the tenant(s) under the
Leases at the Real Property are not entitled to the condemnation proceeds, Buyer shall be at Closing (i) credited with any condemnation proceeds theretofore paid to Seller with respect to the taking (and not theretofore used for restoration or
repair), and (ii) assigned all Seller’s right to any other proceeds therefrom. Seller agrees to furnish Buyer written notification with respect to any such proceedings within five (5) business days after Seller’s receipt of any
such notification of such proceedings. Should Buyer elect to so terminate this Agreement, the Earnest Money Deposit plus any interest thereon net of any investment charges shall be returned forthwith to Buyer, subject to the disbursement and payment
release conditions set forth in Section 3.1, this Agreement shall be deemed null and void and neither party shall have any further rights and obligations hereunder (other than those matters which expressly survive early termination of this
Agreement). For purposes of this Section 9.2, a taking of the Real Property shall not be deemed to be “material” under this 

  
 20 

 
Section 9.2 unless either (1) the value of the portion of the Real Property taken exceeds, in the aggregate, One Million Five Hundred Thousand and 00/100 US Dollars ($1,500,000.00), or
(2) JPMorgan has the right to terminate the JPMorgan Lease as a result of such taking and has not otherwise waived such right, in writing. With respect to any such taking which is not material Buyer shall have no right to terminate this
Agreement provided that, to the extent the tenant(s) at the Real Property are not entitled to the condemnation proceeds, Buyer shall still be (i) credited with any condemnation proceeds paid to Seller (and not theretofore used for restoration
or repair) and (ii) assigned all of Seller’s right to any other proceeds therefrom. 
 ARTICLE 10

 POSSESSION, PRORATIONS AND CLOSING COSTS 

10.1      Possession.  Sole and exclusive possession of the
Property shall be delivered to Buyer on the Closing Date, subject only to the rights of tenants and other occupants under the Leases, and the parties under any Permitted Title Exceptions, and the Contracts. 

10.2      Prorations. 

(a)        The following will be apportioned with respect to the
Property as of 12:01 a.m. (local time at the Property), on the day of Closing, as if Buyer were vested with title to the Property during the entire day upon which Closing occurs: 

(i)          Current rents collected from tenants under
the Leases shall be prorated for the month during which the Closing occurs (the term “rents” as used in this Agreement includes all payments due and payable by tenants under the Leases); 

(ii)        Current bills for real estate taxes and special
assessments, if any, assessed against the Property (“Taxes”) for the calendar year of Closing shall be prorated on a cash basis, as opposed to an accrual basis, as follows: 

(A)        Buyer shall receive a credit for Taxes payable in
calendar year 2010, attributable to the period of Seller’s ownership of the Property in calendar year 2010, as and to the extent that Seller has not yet paid the relevant bill therefor; and Seller shall receive a credit for Taxes paid by or on
behalf of Seller in calendar year 2010 to the relevant taxing authority prior to Closing, for Taxes attributable to the period of Buyer’s ownership of the Property in calendar year 2010; 

(B)        Subject to reconciliation as provided in subparagraph
(f), below, Seller shall retain all amounts paid or payable by tenants under the Leases on account of Taxes payable during calendar year 2010 for the period prior to Closing, and Buyer shall be entitled to amounts paid by tenants under the Leases on
account of Taxes payable during calendar year 2010 for the period after Closing. 

  
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Notwithstanding the foregoing provisions of this subsection (ii), to the extent it is the responsibility of the
tenants under the Leases to pay the Taxes directly to the applicable taxing authorities (or directly to Seller when bills are issued), there shall be no proration between Seller and Buyer with respect thereto. 

Any refund or credit attributable to Seller’s overpayment of Taxes payable in 2010 for the period prior to Closing
and for previous years (collectively, the “Refund”) which is not the property of tenants under Leases is the property of Seller, and Buyer shall reasonably cooperate with Seller to obtain the Refund at Seller’s reasonable
expense. Any other refund for overpayment for Taxes which is not the property of tenants under Leases for any other period belongs to Buyer. 
 (b)        Payments of accounts for water, sewer, electricity, telephone and all other utilities currently in the name of Seller (or its managing agent) shall be
placed in the name of Buyer on the Closing Date and Seller shall arrange for final meter readings and metered services to be conducted on the Closing Date. Seller shall be responsible to pay in full all bills for such utility charges related to any
period prior to the Closing Date and Buyer shall be responsible to pay all utility charges related to any period on and subsequent to the Closing Date. With respect to utilities which are not metered, charges for such service shall be prorated as of
the Closing Date, based on charges for the previous billing period, and Buyer and Seller shall receive credits or charges, as appropriate, with such amounts to be reprorated promptly after the final bills are issued. Seller shall cooperate with
Buyer to effect the transfer of utility accounts from Seller to Buyer. Notwithstanding the foregoing provisions of this subsection (b), to the extent that it is the responsibility of the tenants under the Leases to pay the aforesaid utilities
directly to the applicable utility providers, there shall be no proration between Seller and Buyer with respect thereto and there shall be no final meter readings, and if any such utilities are in the name of any such tenants, then there shall be no
change in the name such utilities are placed in. 

(c)        Buyer shall be entitled to a credit against the
Purchase Price for sums that are due (or accrued) and unpaid as of the Closing Date under any Contracts being assumed by Buyer which are not otherwise covered by the foregoing provisions of this Section 10.2, and Seller shall be entitled to a
credit to the extent that sums have been paid under any Contract, for services to be performed or goods to be delivered after the Closing Date. 
 (d)        Seller shall be responsible for all Tenant Inducement Costs (if any) which are due and payable on or before the Closing Date under or related to the
Leases to which Seller is a party in existence as of the Contract Date; Buyer shall be responsible for (and Seller shall have no responsibility for) all Tenant Inducement Costs, if any (i) for or related to all new Leases (i.e., including,
without limitation, any amendment to an existing Lease) signed after the Contract Date; and/or (ii) which are due and payable after the Closing Date for or related to the Leases in existence as of the Contract Date. 

  
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 (e)        Unpaid and delinquent rent under Leases collected by Seller and Buyer after the Closing Date will be delivered as follows: (i) if Seller collects
any unpaid or delinquent rent for the Property, Seller will, within fifteen (15) business days after the receipt thereof, deliver to Buyer any such rent which Buyer is entitled to hereunder relating to the date of Closing and any period
thereafter, and (ii) if Buyer collects any unpaid or delinquent rent from the Property, Buyer will, within fifteen (15) business days after the receipt thereof, deliver to Seller any such rent which Seller is entitled to hereunder relating
to the period prior to the date of Closing. Seller and Buyer agree that all rent received by Seller or Buyer will be applied first to rents that became due and payable after Closing, and second, to those which were due and payable prior to Closing,
in reverse order of maturity. Buyer will make a good faith effort after Closing to collect all unpaid and delinquent rents in the usual course of Buyer’s operation of the Property, but Buyer will not be obligated to institute any lawsuit or
other collection procedures to collect such unpaid or delinquent rents. In the event that there shall be any rents or other charges under any Leases which, although relating to a period prior to Closing, do not become due and payable until after
Closing or are paid prior to Closing but are subject to adjustment after Closing (e.g., such as year end operating and common area expense reimbursements and the like), then any rents or charges of such type received by Buyer or its agents or Seller
or its agents subsequent to Closing will, to the extent applicable to a period extending through the Closing, be prorated between Seller and Buyer as of Closing and Seller’s portion thereof will be remitted promptly to Seller by Buyer without
reduction for any costs of collection or processing. 

(f)        All other expenses customarily prorated on the transfer
of single-tenant leased properties in the areas where the Property is located shall be prorated on an accrual basis as of the Closing Date on the basis of the most recent ascertainable amounts of or other reliable information in respect to each such
item of income and expense, and the net credit to Buyer or Seller shall be paid in cash or as a credit against that portion of the Purchase Price payable on the Closing Date. Any item prorated on an estimated basis on the Closing Date shall be
reprorated by the parties when and as the actual amount of such item of income or expense becomes known. Any adjustment due to reproration shall be effected promptly following final determination of the amount of such item and demand by the party to
whom credit is due. 
 (g)        On the Closing Date,
Seller shall deliver to Buyer (or give Buyer a credit for), the balance of all cash security deposits then held by or for Seller under the Leases and not theretofore applied on account of tenant defaults. 

(h)        The provisions of this Section 10.2 will survive
the Closing. 
 10.3      Closing Costs.  Seller shall be
responsible for: (i) one hundred percent (100%) of all title charges and premiums attributable to the Title Commitment and the Title Policy (and “mark-up”) required to be delivered by Seller hereunder (i.e., specifically
excluding any additional charges or premiums for Buyer Endorsements, but specifically including 100% of any additional charges or premiums for insuring or endorsing over unpermitted Monetary Liens); (ii) all charges for the Survey and one
Updated Survey from the surveyor who prepared the Survey; and (iii) fifty percent (50%) of all closing fees and escrow fees and costs. Buyer shall be 

  
 23 

 
responsible for (a) all recording fees; (b) fifty percent (50%) of all closing fees and escrow fees and costs; (c) 100% of the costs of all Buyer Endorsements; and
(d) 100% of all costs incurred in connection with any financing obtained by Buyer (including all charges for any lender title insurance commitments or policies and closing services performed by the Title Company) and in connection with any
Inspections conducted by Buyer hereunder. Buyer and Seller shall each pay the fees and expenses of their respective legal counsel incurred in connection with the transaction contemplated hereby, subject, however, to the provisions of
Section 15.7 below. 
 ARTICLE 11 
 CLOSING 

11.1      Time and Place.  The closing of the transaction
contemplated hereby (“Closing”) shall take place at the offices of the Title Company (or such other place as may be mutually agreed upon by the parties) on the Closing Date. The Closing shall be effected pursuant to the escrow
instructions described in Section 3.3 above. 
 11.2      Seller’s
Deliveries.  On or before the Closing Date, Seller shall deliver or cause to be delivered to Buyer or to Escrowee the following documents, each of which shall be in form and substance reasonably acceptable to Buyer: 

    (a)        The Deed, executed by Seller;

     (b)        Two
(2) counterpart originals of Seller’s Assignment and Assumption of Contracts substantially in the form attached as Exhibit G hereto (the “Assignment of Contracts”), executed by Seller; 

    (c)        Two (2) counterpart
originals of Seller’s Assignment and Assumption of the Licenses and Permits and Warranties, substantially in the form attached as Exhibit H hereto (the “Assignment of Licenses and Permits and Warranties”), executed
by Seller; 

    (d)        Seller’s Bill of Sale
assigning and conveying the Tangible Personal Property and the Intangible Personal Property substantially in the form attached as Exhibit I hereto (“Bill of Sale”), executed by Seller; 

    (e)        Two (2) counterpart
originals of Seller’s Assignment and Assumption of Leases substantially in the form attached as Exhibit J hereto (the “Assignment of Leases”), executed by Seller; 

    (f)        To the extent not theretofore
delivered to Buyer, the original Required Lease Estoppel Form; 

    (g)        To the extent in Seller’s
possession, originals or copies of the executed counterparts of all Leases, all Contracts, all Licenses and Permits, and all Warranties, assigned to Buyer, all of which documents may remain held at the Real Property and shall be transferred to Buyer
by means of the transfer of possession of the Real Property hereunder; 

  
 24 

  
     (h)        Counterparts of letters to parties under the Leases and the Contracts advising that same have been sold and assigned to Buyer;

     (i)         Evidence
confirming the due authorization, execution and delivery of this Agreement and the other documents to be executed in connection herewith by Seller; 

    (j)         To the extent required by
the Title Company, an ALTA Statement in customary form required by the Title Company in order to issue the Title Policy required hereunder; 
     (k)        An executed Affidavit in customary form, or a qualifying statement from the U.S. Treasury Department, that the transaction is
exempt from the withholding tax requirement imposed by Section 1445A of the Internal Revenue Code and the rules and regulations promulgated thereunder (“Code”); 

    (l)         All keys to the
Improvements in Seller’s possession; 

    (m)       Subject to Section 11.7 below,
the Title Policy (or a “marked-up” title commitment as described in Section 4.1 above) issued by the Title Company; 
     (n)        Any state, county and municipal transfer declarations or notices which are legally or customarily required to be executed by
Seller to effectuate the conveyance and transfer of the Property contemplated hereby; 

    (o)        Subject to Section 11.7
below, such other documents, instruments, certifications and confirmations as may be reasonably necessary or appropriate to comply with the provisions of this Agreement or as may be reasonably required and designated by the Title Company to fully
effect and consummate the transactions contemplated hereby; 

    (p)        Funds sufficient to pay any
amounts required to be paid by Seller in accordance with the provisions of Article 10 (which funds may, at Seller’s election, be accounted for from the net Purchase Price proceeds being delivered by Buyer hereunder); 

    (q)        A letter to Buyer’s
auditor in substantially the form of Exhibit L attached hereto; and 

    (r)         Without limiting the
conditions set forth in Section 8.1, Seller shall execute and deliver, at Closing, a certificate, updating and reaffirming the representations and warranties of Seller contained in Section 6.1, effective as of the Closing Date; provided,
however, Seller may, as part of such certificate, modify any of Seller’s representations and warranties contained in Section 6.1 of this Agreement, based on any changed facts or circumstances, in order to make the representations and
warranties true and correct as of the Closing Date, provided, further, any claim that Buyer may have for any breach of the representations and warranties contained in such certificate shall be subject to the same limitations, survival periods and
other terms and conditions as otherwise set forth in this Agreement relative to a breach of representations and warranties hereunder. 

  
 25 

  

11.3      Buyer’s Deliveries.  On or before the Closing Date,
Buyer shall deliver or cause to be delivered to Seller or to Escrowee the following documents, each of which shall be in form and substance reasonably acceptable to Seller: 

(a)        Two (2) counterpart originals of the Assignment of
Contracts referenced in Section 11.2(b) above, executed by Buyer; 

(b)        Two (2) counterpart originals of the Assignment of
Licenses and Permits and Warranties referenced in Section 11.2(c) above, executed by Buyer; 

(c)        Two (2) counterpart originals of the Assignment of
Leases referenced in Section 11.2(e) above, executed by Buyer; 

(d)        Counterparts of letters to parties under the Leases and
the Contracts advising that same have been sold and assigned to Buyer; 

(e)        Evidence confirming the due authorization, execution
and delivery of this Agreement and the documents to be executed in connection herewith by Buyer. 

(f)        To the extent required by the Title Company, an ALTA
Statement or other affidavit in customary form required by the Title Company in order to issue the Title Policy required hereunder; 
 (g)        The balance of the Purchase Price; 
 (h)        Any state, county and municipal transfer declarations or notices which are legally or customarily required to be executed by Buyer to effectuate the
conveyance and transfer of the Property contemplated hereby; 

(i)         Such other documents, instrument, certifications
and confirmations as may be necessary or appropriate to comply with the provisions of this Agreement or as may be reasonably required and designated by Title Company to fully effect and consummate the transactions contemplated hereby; 

(j)         Funds sufficient to pay all amounts required to
be paid by Buyer in accordance with the provisions of Article 10; and 

11.4      Concurrent Deliveries.  Seller and Buyer shall jointly
deposit in the escrow or deliver to each other at or before Closing an agreed proration statement duly executed by the respective parties. 
 11.5      Concurrent Transactions.    All documents or other deliveries required to be made by Buyer or Seller at Closing, and all
transactions required to be consummated concurrently with Closing, shall be deemed to have been delivered and to have been consummated simultaneously with all other transactions and all other deliveries, and no delivery shall be deemed to have been
made, and no transaction shall be deemed to have been consummated, until all deliveries required by Buyer and Seller shall have been made, and all concurrent or other transactions shall have been consummated. 

  
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11.6        Type of Closing.  The parties agree that the
transaction shall be closed through escrow by means of a so-called “New York Style Closing” (i.e., meaning a Closing which has, on the Closing Date, the concurrent delivery of the documents of title, transfer of interests, delivery of the
Title Policy or “marked-up” title commitment as described herein and the payment of the Purchase Price). The parties shall provide any customary affidavits or undertakings to the Title Company necessary for the aforedescribed “New
York Style” type of Closing to occur. 
 11.7        Title
Insurance.  Seller agrees to use good faith, diligent efforts to cause the Title Company, at Closing, to issue (or irrevocably commit to issue) the Title Policy, in all material respects, as required under this Agreement.
Notwithstanding anything to the contrary contained in this Agreement, if, however, the Title Company fails or refuses to issue (or irrevocably commit to issue) said Title Policy at Closing, and provided that (i) Seller has utilized good faith,
diligent efforts to cause Title Company to issue (or irrevocably commit to issue) such Title Policy, (ii) Seller has delivered all customary indemnifications and/or affidavits to the Title Company to enable the Title Company to issue (or
irrevocably commit to issue) such Title Policy, (iii) the failure of the Title Company to issue (or irrevocably commit to issue) such Title Policy is not the result of any new title matter first arising from and after the date of the Title
Commitment and arising from the acts or omissions of Seller in violation of the provisions of this Agreement, and (iv) the failure of the Title Company to issue (or irrevocably commit to issue) such Title Policy is not a result of any default
of Seller hereunder (other than a default based on a failure of Seller to cause the Title Company to issue (or irrevocably commit to issue) such Title Policy otherwise required hereunder), then, notwithstanding anything contained in this Agreement
to the contrary, the failure of the Title Company to issue (or irrevocably commit to issue) said Title Policy shall not be deemed a default by Seller hereunder, and, in lieu thereof, and as its sole recourse, Buyer may elect to either
(1) terminate this Agreement, in which event the Earnest Money Deposit and any interest thereon net of investment charges shall be forthwith returned to Buyer, subject to the disbursement and payment release conditions set forth in
Section 3.1, all obligations of the parties hereunder shall terminate, and this Agreement shall otherwise have no further force and effect (other than those matters which expressly survive early termination of this Agreement), or
(2) proceed to close the transactions contemplated hereby in accordance with the terms of this Agreement, whereupon Buyer shall accept such form of title insurance policies, if any, as the Title Company is then prepared to issue. Buyer’s
failure to make either of the two elections described in the preceding sentence on or before the Closing Date shall be deemed an election of option (2) above. 
 ARTICLE 12 
 DEFAULT 

12.1      Buyer Default. 

(a)        Notwithstanding anything to the contrary contained in
this Agreement, if, prior to Closing, Buyer is in default of this Agreement or in breach of any representation or warranty as and when made in this Agreement and Seller has knowledge thereof prior to Closing, then Seller shall deliver to Buyer
written notice of such default or breach, which notice shall describe the nature of the default or breach and Buyer shall have a 

  
 27 

 
period of five (5) days to cure same (provided, however, that Buyer shall not be entitled to any such notice and opportunity to cure for any default under Articles 10, 11, 13 and Article
16). If such default or breach remains uncured beyond the five (5) day period described above, as applicable, or in the event of such default or breach where no such notice and cure period is permitted as provided above, then, except as
provided below in this Section 12.1 and without limiting the other obligations and indemnities under this Agreement that expressly survive the termination of this Agreement, as Seller’s sole and exclusive remedy in lieu of all other legal
or equitable remedies, Seller shall be entitled to (i) retain the Earnest Money Deposit and interest earned thereon (net of investment charges) as Seller’s liquidated damages, or (ii) waive the default at issue in writing and proceed
to close the transaction contemplated by this Agreement in accordance with the other terms and provisions of this Agreement. THE PARTIES AGREE THAT IT WOULD BE IMPRACTICABLE AND EXTREMELY DIFFICULT TO ASCERTAIN THE ACTUAL DAMAGES SUFFERED BY SELLER
AS A RESULT OF BUYER’S FAILURE TO COMPLETE THE PURCHASE OF THE PROPERTY PURSUANT TO THIS AGREEMENT, AND THAT UNDER THE CIRCUMSTANCES EXISTING AS OF THE DATE OF THIS AGREEMENT, THE LIQUIDATED DAMAGES PROVIDED FOR IN THIS SECTION REPRESENT A
REASONABLE ESTIMATE OF THE DAMAGES WHICH SELLER WILL INCUR AS A RESULT OF SUCH FAILURE; PROVIDED, HOWEVER, THAT THIS PROVISION SHALL NOT AFFECT SELLER’S RIGHTS AND BUYER’S INDEMNITY OBLIGATIONS UNDER SECTION 5.2 OF THIS AGREEMENT, NOR
SELLER’S RIGHTS AND BUYER’S OBLIGATIONS UNDER ARTICLE 13 AND ARTICLE 16 BELOW AND UNDER THE CONFIDENTIALITY AGREEMENT DESCRIBED IN SECTION 16.1 BELOW. THE PARTIES ACKNOWLEDGE THAT THE PAYMENT OF SUCH LIQUIDATED DAMAGES IS NOT INTENDED AS A
FORFEITURE OR PENALTY, BUT IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLER. EACH PARTY HEREBY AGREES TO WAIVE ANY AND ALL RIGHTS WHATSOEVER TO CONTEST THE VALIDITY OF THE LIQUIDATED DAMAGE PROVISIONS FOR ANY REASON WHATSOEVER, INCLUDING, BUT
NOT LIMITED TO, THAT SUCH PROVISION WAS UNREASONABLE UNDER CIRCUMSTANCES EXISTING AT THE TIME THIS AGREEMENT WAS MADE. 
 (b)        If Buyer is in default of this Agreement after Closing or if Seller obtains knowledge, after Closing, of any pre-Closing Buyer default or any breach of
any representation or warranty as and when made in this Agreement, then, subject to the survival periods expressly set forth in this Agreement, Seller shall have the right, as its sole and exclusive remedy, to seek damages from Buyer on account
thereof. In no event shall Buyer be liable for consequential, special or punitive damages (it being understood that any actual damages incurred by Seller on account of such default or breach by Buyer, to the extent arising from any third party
claims against Seller, shall not be deemed “consequential, special or punitive damages” for purposes of the foregoing). 
 12.2      Seller Default. 
 (a)        If, prior to Closing, Seller is in default of this Agreement or in breach of any representation or warranty as and when made in this Agreement and Buyer
has 

  
 28 

 
knowledge thereof prior to the Closing, then Buyer shall deliver to Seller written notice of such default or breach, which notice shall describe the nature of the default or breach, and Seller
shall have a period of five (5) days to cure same. If such default or breach remains uncured beyond the five (5) day period described above (it being understood by the parties that, with respect to any breach of (x) a representation
or warranty, so long as Seller’s curative actions result in the representation or warranty at issue then being true in “all material respects” [as defined below], then said breach shall be deemed cured for purposes hereof; and
(y) a covenant, so long as Seller’s curative actions result in the breach of the covenant at issue then being “non-material” [as defined below], then said breach shall be deemed cured for purposes hereof), then Buyer may elect by
written notice to Seller and as Buyer’s sole and exclusive remedy, in lieu of any and all other remedies at law or in equity to either: (i) to cancel this Agreement, in which event the Earnest Money Deposit and interest earned thereon (net
of investment charges) shall be returned to Buyer, subject to the disbursement and payment release conditions set forth in Section 3.1, (ii) to notify Seller within thirty (30) days after the written notice of the breach that Buyer
intends to enforce specific performance of this Agreement (an “Intent Notice”), and to thereafter bring suit to specifically enforce the provisions of this Agreement within forty-five (45) days after delivery of such Intent
Notice (subject, however, in any event, to the provisions contained in Section 6.2 above), or (iii) waive the default at issue in writing and proceed to close the transaction contemplated by this Agreement in accordance with the other
provisions of this Agreement. If Buyer does not notify Seller of its election on or before the scheduled Closing Date (or five (5) days after Buyer’s delivery of its notice of default, if earlier), Buyer shall be deemed to have elected
option (iii) above. For purposes of this Section 12.2(a) the term (x) “all material respects” shall mean that any inaccuracy in such representation or warranty at issue (together with all other breaches of
representations and warranties set forth in this Agreement, if any) will have an adverse monetary effect on the Property which does not exceed Fifty Thousand and 00/100 Dollars ($50,000.00); and (y) “non-material” shall mean
that any breach of the covenant at issue (together with all other breaches of covenants contained in this Agreement, if any) will have an adverse monetary effect on the Property which does not exceed Fifty Thousand and 00/100 Dollars ($50,000.00).

 (b)        In the event Seller is in default of this
Agreement after Closing or if Buyer obtains knowledge, after Closing, of any pre-Closing Seller default or any breach of any representation or warranty as and when made in this Agreement, then, subject to the provisions of Section 6.2 above,
and the survival periods expressly set forth in this Agreement, Buyer shall have the right, as its sole and exclusive remedy, to seek damages from Seller on account thereof. In no event shall Seller be liable for consequential, special or punitive
damages (it being understood that any actual damages incurred by Buyer on account of such default or breach by Seller, to the extent arising from any third party claims against Buyer, shall not be deemed “consequential, special or punitive
damages” for purposes of the foregoing). 
 ARTICLE 13 

BROKERAGE 

  
 29 

  

13.1      Brokerage.  Seller hereby represents and warrants to Buyer
that Seller has not dealt with any broker or finder with respect to the transaction contemplated hereby other than CB Richard Ellis (“Seller’s Broker”). Seller agrees to pay a brokerage commission to Seller’s Broker
pursuant to Seller’s written agreement with said Seller’s Broker. Seller hereby agrees to indemnify, defend and hold harmless Buyer for any claim for brokerage commission or finder’s fee asserted by any person, firm or corporation
claiming to have been engaged by Seller. Buyer hereby represents and warrants to Seller that Buyer has not dealt with any broker or finder in respect to the transaction contemplated hereby other than Seller’s Broker. Buyer hereby agrees to
indemnify, defend and hold harmless Seller for any claim for brokerage commission or finder’s fee asserted by any person, firm or corporation claiming to have been engaged by Buyer. The provisions of this Section 13.1 shall survive Closing
for the longest period permitted by law. 
 ARTICLE 14 

NOTICES 
 14.1      Notices.  Any notice, request, demand, instruction or other document to be given or served hereunder or under any document or instrument
executed pursuant hereto shall be in writing and shall be delivered personally, or transmitted by email (pdf or comparable format) (provided that the original thereof shall thereafter be promptly sent by a nationally recognized overnight express
courier), or sent by a nationally recognized overnight express courier, and shall be addressed to the parties at their respective addresses set forth below, and the same shall be effective upon receipt if delivered personally, or one
(1) business day after deposit with a nationally recognized overnight express courier, or immediately upon being sent by email transmission in accordance with the procedures described above. A party may change its address for receipt of notices
by service of a notice of such change in accordance herewith. 
  

			
	 If to Seller:
	  	 Brookfield Real Estate Opportunity Fund
 181 Bay Street
 Suite 300

Toronto ON M5J 2T3

Attention: Mr. Michael Speer
 Email: mspeer@brookfield.com

	 with a copy to:
	  	 DLA Piper LLP (US)
 203 North LaSalle Street
 Suite 1900

Chicago, Illinois 60601
 Attention: Edward S. Goldman, Esq.
 Email:
Edward.goldman@dlapiper.com

		
	 If to Buyer:
	  	 Wells Real Estate Funds
 6200 The Corners Parkway
 Norcross, GA 30092

Attn: Keith Willby

Email: Keith.Willby@WellsREF.com

  
 30 

			
	 with a copy to:
	  	 Kelley Drye & Warren LLP
 101 Park Avenue
 New York, New York 10178

Attn: Karyn E. Fulton, Esq.
 Email: kfulton@kelleydrye.com

 ARTICLE 15

 ADDITIONAL COVENANTS 

15.1      Entire Agreement, Amendments and
Waivers.    This Agreement contains the entire agreement and understanding of the parties with respect to the subject matter hereof, and the same may not be amended, modified or discharged nor may any of its terms be
waived except by an instrument in writing signed by the party to be bound thereby. This Agreement supersedes any and all prior written or oral agreements and understandings (including, without limitation, letters of intent) between the parties
relating to the subject matter of this Agreement. 
 15.2      Further
Assurances.    The parties each agree to do, execute, acknowledge and deliver all such further acts, instruments and assurances and to take all such further action before or after the Closing as shall be necessary or
desirable to fully carry out this Agreement and to fully consummate and effect the transactions contemplated hereby. 
 15.3      Successors and Assigns.    Subject to the provisions of Section 15.8 below, all agreements, obligations and indemnities of
the parties shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. 
 15.4      No Third Party Benefits.  This Agreement is for the sole and exclusive benefit of the parties hereto and their respective successors and
assigns, and no third party is intended to or shall have any rights hereunder. No memorandum of contract or other instrument of notice of this Agreement or any of the rights herein shall be recorded by either party against the Property. 

15.5      Interpretation.    The headings and captions
herein are inserted for convenient reference only and the same shall not limit or construe the paragraphs or Sections to which they apply or otherwise affect the interpretation hereof. This Agreement and any document or instrument executed
pursuant hereto may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Whenever under the terms of this Agreement the time for performance of
a covenant or condition falls upon a Saturday, Sunday or holiday (in the United States or in Toronto, Canada), such time for performance shall be extended to the next business day. Otherwise all references herein to “days” shall
mean calendar days. Time is of the essence of this Agreement. All references to funds or sums of money shall be in US dollars. The terms “hereby”, “hereof”, “hereto”, “herein”, “hereunder” and any
similar terms shall refer to this Agreement, and the term “hereafter” shall mean after, and the term “heretofore” shall mean before, the date of this Agreement. For purposes of this Agreement, any signature transmitted by
facsimile or e-mail (in pdf. format) shall have the same binding effect as any original signature. 

  
 31 

  

15.6      Governing Law.    This Agreement shall be
governed by and construed in accordance with the laws of the State of New York. 

15.7      Attorneys’ Fees.  In any action or proceeding
involving this Agreement or the contents hereof, the prevailing party shall be entitled to recover from the other party the prevailing party’s reasonable costs and expenses in such action or proceeding, including reasonable attorneys’
fees. 
 15.8      Assignment.  Buyer shall not assign or
transfer this Agreement, or any interest herein, to any other person or entity, without first having obtained the prior written consent of Seller; provided, however, that without limiting the provisions of this Section 15.8 below, Seller’s
consent shall not be required for an assignment of this Agreement to a “Buyer Affiliate” (as hereinafter defined). In the event of any permitted assignment of this Agreement or any interest herein (including, without limitation, any
assignment to a Buyer Affiliate), the assigning party shall remain jointly and severally responsible with the assignee for all of its obligations and liabilities set forth in this Agreement and in any of the documents entered into in connection with
the consummation of the transaction contemplated by this Agreement, and such assignment shall not be deemed to release the assigning party, in any respect, from any such obligations and liabilities. As used in this Section 15.8, the term
(i) “Buyer Affiliate” shall mean any entity which (a) results from a merger or consolidation with Buyer, or (b) acquires all or substantially all of the assets of the Buyer for a purpose other than to circumvent the
provisions of this Section 15.8, or (c) is controlled by, controls or is under common control with the Buyer, and (ii) “control” shall mean the power, through ownership interests, to directly cause the direction or
management or policies of Buyer. 
 ARTICLE 16 

CONFIDENTIALITY 
 16.1      Confidentiality.  Prior to Closing (as it relates specifically to the Property) and at any time (as it relates specifically to Seller or its
affiliates or the terms of the transaction contemplated hereby), any and all information regarding the Property or regarding Seller or its affiliates which is provided or made available to Buyer by Seller or by its agents, or any other information
obtained by Buyer regarding the Property or the Seller or its affiliates in the course of Buyer’s Inspections or other due diligence investigations hereunder, or any information regarding the terms of the transaction contemplated hereby, in
each case to the extent not generally available to the public (herein, the “Confidential Materials”), shall be maintained by Buyer and each of Buyer’s Representatives and Buyer’s officers, directors, partners, principals,
members, employees, agents, contractors, attorneys, accountants and consultants in strict confidence, to be used solely in connection with evaluating the transaction contemplated hereby, and shall not be disclosed to any other third parties without
the prior written consent of Seller. Buyer acknowledges and agrees that any breach or threatened breach of this confidentiality provision would cause irreparable harm to Seller which may not be adequately remedied by monetary damages and that, as a
result, Seller may, in such event, in addition to any other rights or remedies available hereunder or at law or in equity, seek an injunction enjoining any disclosure of the Confidential Materials. This obligation of confidentiality shall not apply
to disclosures compelled by law (including to make any required SEC, New York Stock Exchange 

  
 32 

 
or other securities market filings), any order of a court of competent jurisdiction or by a lawful, proper subpoena, in which event Buyer shall immediately notify Seller of the circumstances
purporting to require such disclosure and shall refrain from such disclosure for the maximum period of time allowed by law so that Seller may take such actions as it may deem appropriate to protect the Confidential Materials being sought. Buyer
shall make all parties having access to the Confidential Materials aware of their obligation of confidentiality described in this Section 16.1 and shall bind such parties to similar obligations of confidentiality. The terms of this
Section 16.1 shall expressly survive the early termination of this Agreement for the longest period provided by law. If this Agreement is terminated for any reason prior to the Closing of the transaction contemplated hereby, then, upon the
request of Seller, Buyer shall immediately return to Seller all Confidential Materials (including all copies thereof) which are in the possession of Buyer or any of Buyer’s Representatives. Nothing contained in this Section 16.1 shall
limit the parties rights and obligations under that certain Purchaser’s Confidentiality Agreement heretofore entered into on behalf of Seller and Buyer (the “Confidentiality Agreement”), a copy of which Confidentiality
Agreement is attached hereto as Exhibit K. Nothing in this Section 16.1 shall prohibit or restrict Buyer’s ability to issue a press release following the Closing, reporting the acquisition of the Property, so long as such press
release does not contain any reference to the Purchase Price or other economic terms hereof and is otherwise in form and content reasonably approved, in advance, by the Seller. 
 ARTICLE 17 
 EXCHANGE PROVISIONS 

17.1      Tax Free Exchange.    If either Party
(the “Notifying Party”) notifies the other Party (the “Other Party”) not less than five (5) business days prior to the Closing Date that the Notifying Party wishes to attempt to effectuate a
“tax-free” exchange pursuant to Section 1031 of the Internal Revenue Code in connection with the transaction contemplated in this Agreement, the Other Party shall cooperate with the Notifying Party (including, without limitation,
executing applicable documents), at no cost, expense, or liability to the Other Party, in the Notifying Party’s attempt to effectuate such exchange, but the Other Party makes no representations to the Notifying Party that any such exchange
shall be treated as “tax-free” by the Internal Revenue Service. The Notifying Party agrees to indemnify the Other Party from all liability with respect to any action which the Notifying Party requests the Other Party to take pursuant to
this Section 17 and to reimburse the Other Party for all fees, costs, and expenses (including reasonable attorney’s fees) incurred by the Other Party as a result of the Notifying Party’s election to participate in a Section 1031
exchange. The Other Party shall not be required to hold title to any real estate or other assets in order to cooperate with the Notifying Party’s Section 1031 exchange. The provisions of this Section 17 shall survive Closing.

 [Signature Page to Follow] 

  
 33 

  
 IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above written. 
  

					
		 	 SELLER:

		
		 	 BREOF BNK3A ROYAL RIDGE LP, a
 Delaware limited partnership

			
		 	 By:
	  	     BREOF BNK3A GP LLC,

    a Delaware limited liability company, its
     general partner

			
		 		  	     By: /s/ Steven Ganeless

		 		  	     Name: Steven Ganeless

		 		  	     Its: President

		
		 	 BUYER:

		
		 	 WELLS CORE OFFICE INCOME
 OPERATING PARTNERSHIP, L.P., a
 Delaware limited
partnership

			
		 	 By:
	  	 Wells Core Office Income REIT, Inc., a
 Maryland corporation, its general partner

			
		 		  	 By: /s/ Randall D. Fretz

		 		  	 Name: Randall D. Fretz

		 		  	 Its: Sr. Vice President

  
 34 

  
 JOINDER

 BREOF BNK3 LP, a Delaware limited partnership, hereby joins in the foregoing Agreement solely for the purpose of
binding itself, on a joint and several basis with Seller, for Seller’s obligations under Section 6.2 of said Agreement, subject, in any case, to all terms and limitations and survival periods set forth in the Agreement relative thereto.

  

					
	 BREOF BNK3 LP,

	 a Delaware limited partnership

		
	 By:
	 	 BREOF US Managing Member II
 LLC, a Delaware limited liability
 company, its general
partner

		
		 	 By: /s/ Steven H. Ganeless

		 	 Name:
	 	 Steven H. Ganeless

		 	 Title:
	 	 President

					
		
	 Date:
	 	 August 5, 2010

  
 35 

  
 EXHIBIT A

 LEGAL DESCRIPTION OF LAND 
 Lot 3 of Royal Ridge Carr, Phase 2, Second Revision, an addition to the City of Irving, Dallas County, Texas, according to the replat thereof recorded as Document No. 200600009070, Map Records, Dallas
County, Texas 

  
 A-1

  
 EXHIBIT B

 EXCLUDED ITEMS OF TANGIBLE PERSONAL PROPERTY 

None 

  
 B-1

  
 EXHIBIT C

 LIST OF CONTRACTS 
 None 

  
 C-1

  
 EXHIBIT D

 LIST OF VIOLATIONS 
 None 

  
 D-1

  
 EXHIBIT E

 LIST OF LITIGATION 
 None 

  
 E-1

  
 EXHIBIT F

 LIST OF LEASES 
 Agreement of Office Lease dated February 9, 2010 by and between BREOF BNK3A Royal Ridge LP, as landlord, and JPMorgan Chase Bank, National Association, as tenant 

  
 F-1

  
 EXHIBIT G

 ASSIGNMENT AND ASSUMPTION OF CONTRACTS 

THIS ASSIGNMENT AND ASSUMPTION OF CONTRACTS (this “Assignment”) is made and entered into as of
                                        ,
2010, by and between BREOF BNK3A ROYAL RIDGE LP, a Delaware limited partnership (“Assignor”), and
                                         
                   , a
                                         
                    (“Assignee”). 
 Recitals 

A.        Assignor, as seller, and Assignee, as buyer, entered into that certain
Agreement of Purchase and Sale dated as of                             , 2010 (the
“Agreement”), pursuant to which Assignor agreed to sell to Assignee, and Assignee agreed to acquire from Assignor, among other things, Assignor’s interest in the property commonly known as 3929 W. John Carpenter Freeway,
Irving, Texas 75063 and legally described on Exhibit A attached hereto (the “Property”). 

B.    As part of the acquisition transaction contemplated by the Agreement, Assignor has agreed to
assign to Assignee, and Assignee has agreed to assume, any and all rights and responsibilities under the Contracts (as such term is defined in the Agreement), a schedule of which is attached hereto as Exhibit B and incorporated herein by this
reference (herein, the “Contracts”), without any obligation of Assignor to pay any fee to, or obtain any consent from, any third party. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Assignor and Assignee agree as follows: 

1.        Transfer and Assignment by
Assignor.    Assignor hereby transfers and assigns to Assignee all of Assignor’s right, title and interest in and under the Contracts, if any, without any obligation of Assignor to pay any fee to, or to obtain any
consent from, any third party. 
 2.        Assumption by
Assignee.    Assignee hereby accepts the foregoing assignment and assumes and agrees to perform all of the duties, obligations, liabilities, commitments and covenants of Assignor accruing from and after the date hereof
with respect to or arising under each of the Contracts. 

3.        Indemnification by
Assignor.    Assignor hereby agrees to indemnify, defend and hold harmless Assignee, and its partners, officers, directors, members, shareholders, affiliates, managers, employees and agents, from, of and against any and
all claims, demands, liabilities, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees) arising out of or relating to the breach by Assignor of any of the obligations, terms or covenants of Assignor
under or pursuant to the Contracts, which obligations, terms or covenants accrued prior to the date hereof; provided, however, that based on the terms of Section 6.5 of the Agreement, Assignor shall have no obligation hereunder to so indemnify,
defend or hold 

  
 G-1

 
harmless the aforementioned parties with respect to breaches by Assignor of obligations, terms or covenants under or pursuant to the Contracts that relate to the physical or environmental
condition of the Property, regardless of whether such obligations, terms or covenants arose or accrued (or arise or accrue) prior to, on or after Closing and regardless of whether such conditions exist or come into existence prior to, on or after
Closing. The indemnification obligation contained in this Section 3 shall be subject to the limitations on liabilities and other provisions contained in the Agreement relating to the Assignor’s liability. 

4.        Indemnification by
Assignee.    Assignee hereby agrees to indemnify, defend and hold harmless Assignor, and its partners, officers, directors, members, shareholders, affiliates, managers, employees and agents, from, of and against any and
all claims, demands, liabilities, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees) arising out of or relating to (i) the breach by Assignee of those obligations, terms or covenants under or
pursuant to the Contracts which relate to the physical or environmental condition of the Property, irrespective of whether same arose or accrued (or arises or accrues) prior to, on or after the Closing, and (ii) the breach by Assignee of any of
the other obligations, terms or covenants of Assignor under or pursuant to the Contracts, which other obligations, terms or covenants accrue from and after the date hereof. The indemnification obligation contained in this Section 4 shall be
subject to all applicable limitations on liabilities and other provisions contained in the Agreement relating to Assignee’s liability. 
 5.        Further Assurances.    The parties hereto covenant and agree to execute such further instruments and take such further
action as may be reasonably required by either party to fully effectuate the terms and provisions of this Assignment and the transactions contemplated herein. 
 6.        Survival of Provisions.    The covenants and obligations contained in this Assignment shall survive the consummation of
the closing of the transactions contemplated by the Agreement and this Assignment shall bind and inure to the benefit of the parties hereto and their respective successors and assigns. 

7.        Attorneys’ Fees and Costs.    If
either party commences an action for the judicial interpretation, reformation, enforcement or rescission hereof, the prevailing party will be entitled to a judgment against the other party for an amount equal to reasonable attorneys’ fees and
court and other costs incurred. 
 8.        Governing
Law.    This Assignment shall be governed by and construed in accordance with the laws of the State of New York. 
 9.        Counterparts.    This Assignment may be executed in counterparts which, when integrated, shall constitute one original
of this Assignment. 
 10.      Conflict.    In
the event of any conflict or inconsistency between the terms hereof and the terms of the Agreement, the terms of the Agreement shall govern and control. Without limitation of the foregoing, all limitations on liability expressly set forth in the
Agreement shall apply to this Assignment and the liabilities of the parties hereunder. 

  
 G-2

  

11.        No Representation.    Except as
expressly set forth in the Agreement, it is hereby acknowledged that Assignor makes no representation or warranty of any kind or nature relative to the Contracts being assigned hereunder, including, without limitation, any representation or warranty
regarding Assignor’s title or other interest therein or Assignor’s right to assign or transfer the same. Without limitation of any representations or warranties expressly set forth in the Agreement, this Assignment constitutes a quitclaim
assignment only, and is intended to assign and transfer only such rights which Assignor may have, if any, with respect to the Contracts. 
 [SIGNATURES ON FOLLOWING PAGE] 

  
 G-3

  
 IN
WITNESS WHEREOF, the parties hereto have caused this Assignment to be executed by their duly authorized officers on the date first written above. 
  

							
	 ASSIGNOR:
	 		 	 ASSIGNEE:

			
	 BREOF BNK3A ROYAL RIDGE LP, a
	 		 	
                             
                                   ,

	 Delaware limited partnership
	 		 	 a
                                         
                     

				
	 By:
	 	 BREOF BNK3A GP LLC, a Delaware limited liability company, its general partner
	 		 	  
 By:
                                         
                   
 Name:
                                         
              
 Title:
                                         
                

				
		 	 By:
                                         
               
	 		 	
		 	 Name:
                                         
          
	 		 	
		 	 Its:
                                         
                
	 		 	

  
 G-4

  
 EXHIBIT A TO
ASSIGNMENT AND ASSUMPTION OF CONTRACTS 
 LEGAL DESCRIPTION OF PROPERTY 

  
 G-5

  
 EXHIBIT B TO
ASSIGNMENT AND ASSUMPTION OF CONTRACTS 
 SCHEDULE OF PROPERTY CONTRACTS 

  
 G-6

  
 EXHIBIT H

 ASSIGNMENT AND ASSUMPTION OF 
 LICENSES AND PERMITS AND WARRANTIES 
 THIS
ASSIGNMENT AND ASSUMPTION OF LICENSES AND PERMITS AND WARRANTIES (this “Assignment”) is made and entered into as of
                                        ,
2010, by and between BREOF BNK3A ROYAL RIDGE LP, a Delaware limited partnership (“Assignor”), and
                                         
                   , a
                                         
                    (“Assignee”). 
 Recitals 

A.        Assignor, as seller, and Assignee, as buyer, entered into that certain
Agreement of Purchase and Sale dated as of                             , 2010 (the
“Agreement”), pursuant to which Assignor agreed to sell to Assignee, and Assignee agreed to acquire from Assignor, among other things, Assignor’s interest in the property commonly known as 3929 W. John Carpenter Freeway,
Irving, Texas 75063 and legally described on Exhibit A attached hereto (the “Property”). 

B.        As part of the acquisition transaction contemplated by the Agreement,
Assignor has agreed to assign to Assignee, and Assignee has agreed to assume, any and all of Assignor’s right, title and interest to the Licenses and Permits and the Warranties (as such terms are defined in the Agreement, which definitions are
restated on Exhibit B attached hereto and incorporated herein by this reference), without any obligation of Assignor to pay any fee to, or to obtain any consent from, any third party. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor and Assignee agree as follows: 
 1.        Transfer and Assignment by Assignor.    Assignor hereby transfers and assigns to Assignee all of Assignor’s right,
title and interest in and under the Licenses and Permits and the Warranties, if any, without any obligation of Assignor to pay any fee to, or to obtain any consent from, any third party. 

2.        Assumption by Assignee.    Assignee
hereby accepts the foregoing assignment and assumes and agrees to perform any and all of the duties, obligations, liabilities, commitments and covenants of Assignor accruing from and after the date hereof with respect to or arising under each of the
Licenses and Permits and the Warranties. 

3.        Indemnification by
Assignee.    Assignee hereby agrees to indemnify, defend and hold harmless Assignor, and its partners, officers, directors, members, shareholders, affiliates, employees, managers and agents, from, of and against any and
all claims, demands, liabilities, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees), if any, arising out of or relating to (i) the breach by Assignee of those obligations, terms or

  
 H-1

 
covenants under or pursuant to the Licenses and Permits and Warranties assigned hereunder which relate to the physical or environmental condition of the Property, irrespective of whether same
arose or accrued (or arises or accrues) prior to, on or after the Closing, and (ii) the breach by Assignee of any of the other obligations, terms or covenants of Assignor under or pursuant to the Licenses and Permits and the Warranties, which
other obligations, terms or covenants accrue from and after the date hereof. The indemnification obligation contained in this Section 3 shall be subject to all applicable limitations on liabilities and other provisions contained in the
Agreement relating to Assignee’s liability. 

4.        Further Assurances.    The parties
hereto covenant and agree to execute such further instruments and take such further action as may be reasonably required by either party to fully effectuate the terms and provisions of this Assignment and the transactions contemplated herein.

 5.        Survival of
Provisions.    The covenants and obligations contained in this Assignment shall survive the consummation of the closing of the transactions contemplated by the Agreement and this Assignment shall bind and inure to the
benefit of the parties hereto and their respective successors and assigns. 

6.        Attorneys’ Fees and Costs.    If
either party commences an action for the judicial interpretation, reformation, enforcement or rescission hereof, the prevailing party will be entitled to a judgment against the other party for an amount equal to reasonable attorneys’ fees and
court and other costs incurred. 
 7.        Governing
Law.    This Assignment shall be governed by and construed in accordance with the laws of the State of New York. 
 8.        Counterparts.    This Assignment may be executed in counterparts which, when integrated, shall constitute one original
of this Assignment. 

9.        Conflict.    In the event of any
conflict or inconsistency between the terms hereof and the terms of the Agreement, the terms of the Agreement shall govern and control. Without limitation of the foregoing, all limitations on liability expressly set forth in the Agreement shall
apply to this Assignment and the liabilities of the parties hereunder. 

10.      No Representation.    Except as expressly set
forth in the Agreement, it is hereby acknowledged that Assignor makes no representation or warranty of any kind or nature relative to the Licenses and Permits and the Warranties being assigned hereunder, including, without limitation, any
representation or warranty regarding Assignor’s title or other interest therein or Assignor’s right to assign or transfer the same. Without limitation of any representations or warranties expressly set forth in the Agreement, this
Assignment constitutes a quitclaim assignment only, and is intended to assign and transfer only such rights which Assignor may have, if any, with respect to the Licenses and Permits and the Warranties. 

  
 H-2

  
 IN
WITNESS WHEREOF, the parties hereto have caused this Assignment to be executed by their duly authorized officers on the date first written above. 
  

							
	 ASSIGNOR:
	 		 	 ASSIGNEE:

			
	 BREOF BNK3A ROYAL RIDGE LP, a
	 		 	
                             
                                       
,

	 Delaware limited partnership
	 		 	 a
                                         
                         

				
	 By:
	 	 BREOF BNK3A GP LLC, a Delaware limited liability company, its general partner
	 		 	  
 By:
                                         
                   
 Name:
                                         
              
 Title:
                                         
               

				
		 	 By:
                                         
                   
	 		 	
		 	 Name:
                                         
              
	 		 	
		 	 Its:
                                         
                    
	 		 	

  
 H-3

  
 EXHIBIT A TO

 ASSIGNMENT AND ASSUMPTION OF LICENSES 

AND PERMITS AND WARRANTIES 
 LEGAL DESCRIPTION OF PROPERTY 

  
 H-4

  
 EXHIBIT B TO

 ASSIGNMENT AND ASSUMPTION OF 
 LICENSES AND PERMITS AND WARRANTIES 
 DEFINITIONS

 Licenses and Permits.    All licenses, permits, franchises,
certifications, authorizations, approvals, certificates of occupancy and entitlements issued, approved or granted by any governmental authority or body having jurisdiction over the “Property” (as defined in the Agreement) and used in
connection with the operation, ownership or maintenance of the “Property” (as defined in the Agreement) or any part thereof. 
 Warranties.    All guarantees and warranties of contractors, materialmen, manufacturers, mechanics or suppliers who have been engaged by Assignor, as seller, or any of
its agents to furnish labor, materials, equipment or supplies to all or any portion of the “Property” (as defined in the Agreement). 

  
 H-5

  
 EXHIBIT I

 BILL OF SALE 
 THIS BILL OF SALE is made by the undersigned, BREOF BNK3A ROYAL RIDGE LP, a Delaware limited partnership (“Seller”), in favor of and to
                                         
                   , a
                                         
                    (“Buyer”). 
 WHEREAS, Seller, as seller, and Buyer, as buyer, entered into that certain Agreement of Purchase and Sale dated as of
                            , 2010 (the “Agreement”), pursuant to which Seller agreed
to sell to Buyer, and Buyer agreed to acquire from Seller, among other things, Seller’s interest in the property commonly known as 3929 W. John Carpenter Freeway, Irving, Texas 75063 and legally described on Exhibit A attached hereto (the
“Property”), including Seller’s interest in certain real and personal property related thereto; 
 WHEREAS, as part of the acquisition transaction contemplated by the Agreement, Seller is to sell, convey, and transfer to Buyer, by bill of sale, the Tangible Personal Property (as defined in the
Agreement) and the Intangible Personal Property (as defined in the Agreement). 
 NOW, THEREFORE,
pursuant to the Agreement, and in consideration of good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller by these presents does GIVE, GRANT, CONVEY, ASSIGN, TRANSFER, BARGAIN, SELL, REMISE, RELEASE,
ALIENATE, SET OVER, and CONFIRM, unto Buyer, its successors and assigns, forever, as an entirety, all of Seller’s right, title, and interest, if any, in and to (a) the Tangible Personal Property (as defined in the Agreement); and
(b) the Intangible Personal Property (as defined in the Agreement). 
 Seller makes no representations or
warranties whatsoever, regarding said Tangible Personal Property or the Intangible Personal Property, including, without limitation, any representations or warranties related to title, quality, merchantability or fitness for a particular purpose.

 In the event of any conflict or inconsistency between the terms hereof and the terms of the Agreement, the
terms of the Agreement shall govern and control. Without limitation of the foregoing, all limitations on liability expressly set forth in the Agreement shall apply to this Bill of Sale and the liabilities of Seller hereunder. 

  
 I-1

  
 IN
WITNESS WHEREOF, Seller has caused this Bill of Sale to be executed by its duly authorized officer this                      day of
                                        ,
2010. 
  

			
	 SELLER:

	
	 BREOF BNK3A ROYAL RIDGE LP, a
 Delaware limited partnership

		
	 By:
	 	 BREOF BNK3A GP LLC, a Delaware limited liability company, its general partner

		
		 	 By:
                                         
             

		 	 Name:
                                         
        

		 	 Its:
                                         
              

  
 I-2

  
 EXHIBIT A TO BILL
OF SALE 
 LEGAL DESCRIPTION 

  
 I-3

  
 EXHIBIT J

 ASSIGNMENT AND ASSUMPTION OF LEASES 

THIS ASSIGNMENT AND ASSUMPTION OF LEASES (this “Assignment”) is made and entered into as of
                                        ,
2010, by and between BREOF BNK3A ROYAL RIDGE LP, a Delaware limited partnership (“Assignor”), and
                                         
                           , a
                                         
                            (“Assignee”). 

Recitals 
 A.        Assignor, as seller, and Assignee, as buyer, entered into that certain Agreement of Purchase and Sale dated as of
                            , 2010 (the “Agreement”), pursuant to which Assignor
agreed to sell to Assignee, and Assignee agreed to acquire from Assignor, among other things, Assignor’s interest in the property commonly known as 3929 W. John Carpenter Freeway, Irving, Texas 75063 and legally described on Exhibit A attached
hereto (the “Property”), including Assignor’s interest in certain leases related thereto. 

B.        As part of the acquisition transaction contemplated by the Agreement,
Assignor has agreed to assign to Assignee, and Assignee has agreed to assume, Assignor’s interest as landlord (together with all rights and obligations relating thereto) under the Leases (as defined in the Agreement), a schedule of which Leases
is attached hereto as Exhibit B and incorporated herein by this reference (herein, the “Leases”). 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Assignor and Assignee agree as follows: 

1.        Transfer and Assignment by
Assignor.    Assignor hereby transfers and assigns to Assignee all of Assignor’s right, title and interest, in, to and under the Leases. 

2.        Assumption by Assignee.    Assignee
hereby accepts the foregoing assignment and assumes and agrees to perform all of the duties, obligations, liabilities, commitments and covenants of Assignor, accruing from and after the date hereof with respect to or arising under each of the
Leases. 
 3.        Indemnification by
Assignor.    Assignor hereby agrees to indemnify, defend and hold harmless Assignee, and its partners, directors, members, shareholders, affiliates, managers, employees and agents, from, of and against any and all claims,
demands, liabilities, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees) arising out of or relating to the breach by Assignor of any of the obligations, terms or covenants of Assignor, under or
pursuant to the Leases, which obligations, terms or covenants accrued prior to the date hereof; provided, however, that based on the terms of Section 6.5 of the Agreement, Assignor shall have no obligation hereunder to so indemnify, defend or
hold harmless the aforementioned parties with respect to breaches by Assignor of obligations, terms or covenants under or pursuant to the Leases that relate to the physical or environmental condition of the Property, regardless of whether such
obligations, terms or covenants arose or accrued (or arise or 

  
 J-1

 
accrue) prior to, on or after Closing and regardless of whether such conditions exist or come into existence prior to, on or after Closing. The indemnification obligation contained in this
Section 3 shall be subject to the limitations on liabilities and other provisions contained in the Agreement relating to the Assignor’s liability. 
 4.        Indemnification by Assignee.    Assignee hereby agrees to indemnify, defend and hold harmless Assignor, and its
partners, officers, directors, members, shareholders, affiliates, managers, employees and agents, from, of and against any and all claims, demands, liabilities, losses, damages, costs and expenses (including, without limitation, reasonable
attorneys’ fees) arising out of or relating to (i) the breach by Assignee of those obligations, terms or covenants under or pursuant to the Leases which relate to the physical or environmental condition of the Property, irrespective of
whether same arose or accrued (or arises or accrues) prior to, on or after the Closing, and (ii) the breach by Assignee of any of the other obligations, terms or covenants of Assignor, under or pursuant to the Leases, which other obligations,
terms or covenants accrue from and after the date hereof. The indemnification obligation contained in this Section 4 shall be subject to all applicable limitations on liabilities and other provisions contained in the Agreement relating to
Assignee’s liability. 
 5.        Further
Assurances.    The parties hereto covenant and agree to execute such further instruments and take such further action as may be reasonably required by either party to fully effectuate the terms and provisions of this
Assignment and the transactions contemplated herein. 

6.        Survival of Provisions.    The
covenants and obligations contained in this Assignment shall survive the consummation of the closing of the transactions contemplated by the Agreement and this Assignment shall bind and inure to the benefit of the parties hereto and their respective
successors and assigns. 
 7.        Attorneys’ Fees and
Costs.    If either party commences an action for the judicial interpretation, reformation, enforcement or rescission hereof, the prevailing party will be entitled to a judgment against the other party for an amount equal
to reasonable attorneys’ fees and court and other costs incurred. 

8.        Governing Law.    This Assignment
shall be governed by and construed in accordance with the laws of the State of New York. 

9.        Counterparts.    This Assignment may
be executed in counterparts which, when integrated, shall constitute one original of this Assignment. 

10.      Conflict.    In the event of any conflict or
inconsistency between the terms hereof and the terms of the Agreement, the terms of the Agreement shall govern and control. Without limitation of the foregoing, all limitations on liability expressly set forth in the Agreement shall apply to this
Assignment and the liabilities of the parties hereunder. 
 11.      No
Representation.    Except as expressly set forth in the Agreement, it is hereby acknowledged that Assignor makes no representation or warranty of any kind or nature relative

  
 J-2

 
to the Leases, including, without limitation, any representation or warranty regarding Assignor’s interest therein or Assignor’s right to assign or transfer the same. Without limitation
of any representations or warranties expressly set forth in the Agreement, this Assignment constitutes a quitclaim assignment only, and is intended to assign and transfer only such rights which Assignor may have, if any, with respect to the Leases.

 [SIGNATURES ON FOLLOWING PAGE] 

  
 J-3

  
 IN
WITNESS WHEREOF, the parties hereto have caused this Assignment to be executed by their duly authorized officers on the date first written above. 
  

							
	 ASSIGNOR:
	 		 	 ASSIGNEE:

			
	 BREOF BNK3A ROYAL RIDGE LP, a
	 		 	
                             
                                       
,

	 Delaware limited partnership
	 		 	 a
                                         
                         

				
	 By:
	 	 BREOF BNK3A GP LLC, a Delaware limited liability company, its general partner
	 		 	  
 By:
                                         
                   
 Name:
                                         
              
 Title:
                                         
               

				
		 	 By:
                                         
                   
	 		 	
		 	 Name:
                                         
              
	 		 	
		 	 Its:
                                         
                    
	 		 	

  
 J-4

  
 EXHIBIT A TO
ASSIGNMENT AND ASSUMPTION OF LEASES 
 LEGAL DESCRIPTION OF PROPERTY 

  
 J-5

  
 EXHIBIT B TO
ASSIGNMENT AND ASSUMPTION OF LEASES 
 SCHEDULE OF LEASES 

  
 J-6

  
 EXHIBIT K

 CONFIDENTIALITY AGREEMENT 
 Page 1 of 1 
     Hifler, Mary Anne @ Dallas

  

			
	     From:
	 	 maryanne.hifler@cbre.com

	     Sent:
	 	 Tuesday, May 11, 2010 4:00 PM

	     To:
	 	 Hifler, Mary Anne @ Dallas

	     Subject:
	 	 CBRE Marketplace - Confidentiality Agreement Signed and Automatically Approved for Royal Ridge V

*** Automated Notification From CBRE Marketplace*** 
 Lou Davis has signed the confidentiality agreement and was automatically approved to Stage 1 for the listing Royal Ridge V at: 
 3929 West John Carpenter Freeway 
 Irving, TX 75063 

Lou Davis 
 Acquisitions Associate 

Wells Real Estate Funds 
 6200 The Corners
Parkway 
 Norcross, GA 30092 
 Phone:
1-770-243-8264 
 Fax: 1-770-243-8510 

Email: lou.davis@wellsref.com 
 Investor

 Lou Davis received an automated email containing the URL for Royal Ridge V, but did not include login and password
information. 
 This e-mail was automatically generated by the CBRE Marketplace System. Please do not reply to this e-mail. For
questions about this information, please contact Marketplace support at HelpDesk@cbre.com or 877.435.7547. 
 5/11/2010

  
 K-1

  
 Royal Ridge V

 CONFIDENTIALITY AGREEMENT 
  

													
	  

We understand that your organization (the “Company”) is interested in pursuing the acquisition of the above referenced property
(the “Acquisition”) involving Owner (collectively the “Owner”). To assist you in your evaluation of a potential acquisition of that certain property currently managed or controlled by Owner, we will provide you with certain
information concerning the acquisition. As a condition to furnishing you with such information, Company agrees to treat confidentially such information and any other information (collectively the “Evaluation Material”) which Owner, its
affiliates, partners, lenders, employees, agents, attorneys, accountants, advisors or references (collectively the “Representatives”) furnish to your Company. The term Evaluation Material will also include any analysis, compilations,
studies or other documents prepared by Company or Company’s Representatives containing, or based in whole or in part on, any information furnished by Owner.

 
 Company agrees that the Evaluation Material will be
kept confidential by it and its Representatives and shall not, except as hereinafter provided, without the prior written consent of Owner, be disclosed by it or its Representatives other than for the purpose of evaluating the Acquisition. Moreover,
Company further agrees to transmit Evaluation Material only to those of its Representatives who need such information for the purpose of evaluating the Acquisition and who shall (i) be advised by Company of this letter agreement (the
“Agreement”) and (ii) agree with Company to be bound by the provisions hereof. Company shall be responsible for any breach of this Agreement by its Representatives.

 
 In the event that the acquisition is not affected after
Company has been furnished with Evaluation Material, Company will promptly deliver to Owner the Evaluation Material and all copies thereof, except for the portion of compilations, studies or other documents prepared by Company or its
Representatives, without retaining any copy thereof. That portion of the Evaluation Material which consists of analysis, compilations, studies or other documents prepared by Company or its Representatives will be held by it and kept confidential and
subject to the terms of this agreement, or destroyed at the request of Owner. Such destruction will be confirmed by Owner.
  

The term Evaluation Material does not include information which (i) becomes generally available to the public other than as a result of
disclosure by Company or its Representatives, (ii) was available to Company on a non-confidential basis prior to its disclosure to Company by Owner or its Representatives; provided, however, that such source is not bound by a confidentiality
agreement with Owner or its Representative.
  

Although Company understands that Owners has endeavored to include in the Evaluation Material information known to it which it believes to
be relevant for the purposes of Company’s investigation, Company further understands that except as may otherwise be agreed in writing, Owner does not make any representation or warranty as to the accuracy or completeness of the Evaluation
Material. Company agrees that neither Owner nor its Representatives under this agreement for any cause whatsoever.
  

This agreement shall be governed and construed in accordance with the laws of the State of Texas, may not be changed, waived or terminated
orally and shall be binding upon the parties and their successors or assigns.
  
	 	 	  	  

The company confirms the understanding that any agreements between the Company and Owner concerning the Acquisition will exist only when
such agreement is in writing and duly executed by the parties thereto.
	 	 
	 		  	  
 AGREED TO AND ACCEPTED BY:
(Please Print Clearly)
	 	 
	 		  	 COMPANY:
	  	  
	 	 
	 		  	 Address:
	  	  
	 	 
	 		  		  	  
	 	 
	 		  	 City, ST, Zip:
	  	  
	 	 
	 		  	 Phone:
	  	  
	 	 
	 		  	 Fax:
	  	  
	 	 
	 		  	 E-Mail:
	  	  
	 	 
	 		  		  	Please provide to receive important updates about this offering.	 	 
	 		  	 By:
	  	  
	 	 
	 		  	 Title:
	  	  
	 	 
	 		  	 Date:
	  	  
	 	 
	 		  	 Signature:
	  	  
	 	 
	 		  	 (If applicable)
	 	 
	 		  	 Any fees to Purchaser’s Broker are to be paid by Purchaser. CB Richard Ellis shall not be responsible for any commission or fees to
Purchaser’s Broker.
	 	 
	 		  	 BROKER:
	  	  
	 	 
	 		  	 Address:
	  	  
	 	 
	 		  		  	  
	 	 
	 		  	 City, ST, Zip:
	  	  
	 	 
	 		  	 Phone:
	  	  
	 	 
	 		  	 Fax:
	  	  
	 	 
	 		  	 E-Mail:
	  	  
	 	 
	 		  		  	Please provide to receive important updates about this offering.	 	 
	 		  	 By:
	  	  
	 	 
	 		  	 Title:
	  	  
	 	 
	 		  	 Date:
	  	  
	 	 
	 		  	 Signature:
	  	  
	 	 
	 	 	  	      
	  	 	 	 
	 CB Richard Ellis
	 	 Exclusive Marketing Advisors:
	  	PLEASE EXECUTE AND RETURN TO
	 	 
	 5430 LBJ Freeway

Suite 1100

Dallas, TX 75240

cbre.com/igdallas-houston
	 	 Gary Carr

Russell Ingrum
 Jack Fraker
 Josh McArtor
	  	 972.458.4809

713.787.1969

972.458.4830

972.458.4935
	 	 	  	Mary Anne Hifler
 Phone 972-458-5226
 Fax 972-458-4866

Email: Maryanne.hifler@cbre.com
	 	 

 

 

  
 K-2

  
 EXHIBIT L

 LETTER TO BUYER’S AUDITOR 

  
 L-1

  
 FIRST AMENDMENT
TO AGREEMENT OF PURCHASE AND SALE 
 THIS FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (the
“Amendment”), is made and entered into as of the 7th day of September, 2010, by and between BREOF BNK3 ROYAL RIDGE LP, a Delaware limited partnership (“Seller”), and Wells Core Office Income Operating Partnership, L.P., a Delaware limited
partnership (“Buyer”). 
 RECITALS 

Seller and Buyer entered into that certain Agreement of Purchase and Sale dated as of August 5, 2010 (the
“Agreement”), and now wish to amend the Agreement to extend the Contingency Period on the terms hereinafter provided. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer hereby amend the Agreement as follows: 

1.        Definitions. Capitalized terms used herein but not otherwise
defined have the meanings ascribed to them in the Agreement. 

2.        Extension of Contingency Period. Section 1.1(g) is deleted
in its entirety and replaced with the following: 
 “Contingency Period. The
period beginning on the Contract Date (defined below) and ending at 5:00 p.m., Central Time, on September 14, 2010.” 
 3.        Ratification. In all other respects, except as modified hereby, the Agreement remains unmodified and in full force and effect. 

4.        Counterparts. This Amendment may be executed in counterparts,
each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same instrument, binding on the parties hereto, and the signature of any party to any counterpart shall be deemed a signature to, and may
be appended to, any other counterpart. 
 [Remainder of page intentionally left blank. Signature pages to follow.]

  
 IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year written above. 
  

									
		 		 	 SELLER:

			
		 		 	 BREOF BNK3A ROYAL RIDGE LP, a Delaware limited

partnership

				
		 		 	By:	 	 BREOF BNK3A GP LLC, a Delaware limited

liability company, its general partner

			
		 		 	 By: /s/ Michael Speer

		 		 	 Name: Michael Speer

		 		 	 Title: ASO

			
		 		 	 BUYER:

			
		 		 	 WELLS CORE OFFICE INCOME OPERATING
 PARTNERSHIP, L.P., a Delaware limited partnership

				
		 		 	By:	 	 Wells Core Office Income REIT, Inc., a Maryland

corporation, its general partner

				
		 		 		 	 By: /s/ Douglas P. Williams

		 		 		 	 Name: Douglas P. Williams

		 		 		 	 Title: Executive Vice President

  
 SECOND AMENDMENT
TO AGREEMENT OF PURCHASE AND SALE 
 THIS SECOND AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this
“Amendment”), is made and entered into as of the 14th day of September, 2010, by and between BREOF BNK3 ROYAL RIDGE LP, a Delaware limited partnership (“Seller”), and Wells Core Office Income Operating Partnership,
L.P., a Delaware limited partnership (“Buyer”). 
 RECITALS 

Seller and Buyer entered into that certain Agreement of Purchase and Sale dated as of August 5, 2010, as amended by
that certain First Amendment to Agreement of Purchase and Sale dated as of September 7, 2010 (as amended, the “Agreement”), and now wish to amend the Agreement to extend the Contingency Period on the terms hereinafter provided.

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Seller and Buyer hereby amend the Agreement as follows: 

1.        Definitions. Capitalized terms used herein but not otherwise
defined have the meanings ascribed to them in the Agreement. 

2.        Extension of Contingency Period. Section 1.1(g) is deleted
in its entirety and replaced with the following: 
 “Contingency Period. The
period beginning on the Contract Date (defined below) and ending at 5:00 p.m., Central Time, on September 21, 2010.” 
 3.        Ratification. In all other respects, except as modified hereby, the Agreement remains unmodified and in full force and effect. 

4.        Counterparts. This Amendment may be executed in counterparts,
each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same instrument, binding on the parties hereto, and the signature of any party to any counterpart shall be deemed a signature to, and may
be appended to, any other counterpart. 
 [Remainder of page intentionally left blank. Signature pages to follow.]

  
 IN
WITNESS WHEREOF, the parties hereto have executed this Amendment on the day and year written above. 
  

							
		 	 SELLER:

		
		 	 BREOF BNK3A ROYAL RIDGE LP, a Delaware limited
 partnership

			
		 	By:	 	 BREOF BNK3A GP LLC, a Delaware limited

liability company, its general partner

		
		 	 By: /s/ Michael Speer

		 	 Name: Michael Speer

		 	 Title: ASO

		
		 	 BUYER:

		
		 	 WELLS CORE OFFICE INCOME OPERATING
 PARTNERSHIP, L.P., a Delaware limited partnership

			
		 	By:	 	 Wells Core Office Income REIT, Inc., a Maryland

corporation, its general partner

			
		 		 	 By: /s/ Douglas P. Williams

		 		 	 Name: Douglas P. Williams

		 		 	 Title: Executive Vice President

  
 THIRD AMENDMENT
TO AGREEMENT OF PURCHASE AND SALE 
 THIS THIRD AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this
“Amendment”), is made and entered into as of the  21  day of September, 2010, by and between BREOF BNK3 ROYAL RIDGE LP, a Delaware limited partnership (“Seller”), and Wells Core Office Income
Operating Partnership, L.P., a Delaware limited partnership (“Buyer”). 
 RECITALS 

Seller and Buyer entered into that certain Agreement of Purchase and Sale dated as of August 5, 2010, as amended by
that certain First Amendment to Agreement of Purchase and Sale dated as of September 7, 2010 and that certain Second Amendment to Agreement of Purchase and Sale dated as of September 14, 2010 (as amended, the “Agreement”),
and now wish to amend the Agreement to extend the Contingency Period on the terms hereinafter provided. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer hereby amend the Agreement as follows: 

1.        Definitions. Capitalized terms used herein but not otherwise
defined have the meanings ascribed to them in the Agreement. 

2.        Extension of Contingency Period. Section 1.1(g) is deleted
in its entirety and replaced with the following: 
 “Contingency Period. The
period beginning on the Contract Date (defined below) and ending at 5:00 p.m., Central Time, on September 28, 2010.” 
 3.        Ratification. In all other respects, except as modified hereby, the Agreement remains unmodified and in full force and effect. 

4.        Counterparts. This Amendment may be executed in counterparts,
each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same instrument, binding on the parties hereto, and the signature of any party to any counterpart shall be deemed a signature to, and may
be appended to, any other counterpart. 
 [Remainder of page intentionally left blank. Signature pages to follow.]

  
 IN
WITNESS WHEREOF, the parties hereto have executed this Amendment on the day and year written above. 
  

									
		 		 	 SELLER:

			
		 		 	 BREOF BNK3A ROYAL RIDGE LP, a Delaware limited

partnership

				
		 		 	By:	 	 BREOF BNK3A GP LLC, a Delaware limited

liability company, its general partner

			
		 		 	 By: /s/ Seamus Foran 

		 		 	 Name: Seamus Foran

		 		 	 Title: ASO

			
		 		 	 BUYER:

			
		 		 	 WELLS CORE OFFICE INCOME OPERATING
 PARTNERSHIP, L.P., a Delaware limited partnership

				
		 		 	By:	 	 Wells Core Office Income REIT, Inc., a Maryland

corporation, its general partner

				
		 		 		 	 By: /s/ Randall D. Fretz 

		 		 		 	 Name: Randall D. Fretz

		 		 		 	 Title: Sr. Vice President

  
 FOURTH AMENDMENT
TO AGREEMENT OF PURCHASE AND SALE 
 THIS FOURTH AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this
“Amendment”), is made and entered into as of the  28  day of September, 2010, by and between BREOF BNK3 ROYAL RIDGE LP, a Delaware limited partnership (“Seller”), and Wells Core Office Income
Operating Partnership, L.P., a Delaware limited partnership (“Buyer”). 
 RECITALS 

Seller and Buyer entered into that certain Agreement of Purchase and Sale dated as of August 5, 2010, as amended by
that certain First Amendment to Agreement of Purchase and Sale dated as of September 7, 2010, that certain Second Amendment to Agreement of Purchase and Sale dated as of September 14, 2010 and that certain Third Amendment to Agreement of
Purchase and Sale dated as of September 21, 2010 (as amended, the “Agreement”), and now wish to amend the Agreement to extend the Contingency Period on the terms hereinafter provided. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Seller and Buyer hereby amend the Agreement as follows: 

1.        Definitions.  Capitalized terms used herein but not
otherwise defined have the meanings ascribed to them in the Agreement. 

2.        Extension of Contingency Period.  Section 1.1(g)
is deleted in its entirety and replaced with the following: 
 “Contingency
Period.    The period beginning on the Contract Date (defined below) and ending at 5:00 p.m., Central Time, on October 1, 2010.” 

3.        Ratification.    In all other respects,
except as modified hereby, the Agreement remains unmodified and in full force and effect. 

4.        Counterparts.  This Amendment may be executed in
counterparts, each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same instrument, binding on the parties hereto, and the signature of any party to any counterpart shall be deemed a signature
to, and may be appended to, any other counterpart. 
 [Remainder of page intentionally left blank. Signature pages to
follow.] 

  
 IN
WITNESS WHEREOF, the parties hereto have executed this Amendment on the day and year written above. 
  

									
		 		 	 SELLER:

			
		 		 	 BREOF BNK3A ROYAL RIDGE LP, a Delaware limited

partnership

				
		 		 	By:	 	 BREOF BNK3A GP LLC, a Delaware limited

liability company, its general partner

			
		 		 	 By: /s/ Michael Speer

		 		 	 Name: Michael Speer

		 		 	 Title: ASO

			
		 		 	 BUYER:

			
		 		 	 WELLS CORE OFFICE INCOME OPERATING
 PARTNERSHIP, L.P., a Delaware limited partnership

				
		 		 	By:	 	 Wells Core Office Income REIT, Inc., a Maryland

corporation, its general partner

				
		 		 		 	 By: /s/ Douglas P. Williams

		 		 		 	 Name: Douglas P. Williams

		 		 		 	 Title: Executive Vice President

  
 FIFTH AMENDMENT
TO AGREEMENT OF PURCHASE AND SALE 
 THIS FIFTH AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this
“Amendment”), is made and entered into as of the 1st day of October, 2010, by and between BREOF BNK3 ROYAL RIDGE LP, a Delaware limited partnership (“Seller”), and WELLS CORE OFFICE INCOME OPERATING PARTNERSHIP,
L.P., a Delaware limited partnership (“Buyer”). 
 RECITALS 

Seller and Buyer entered into that certain Agreement of Purchase and Sale dated as of August 5, 2010, as amended by
that certain First Amendment to Agreement of Purchase and Sale dated as of September 7, 2010, that certain Second Amendment to Agreement of Purchase and Sale dated as of September 14, 2010, that certain Third Amendment to Agreement of
Purchase and Sale dated as of September 21, 2010 and that certain Fourth Amendment to Agreement of Purchase and Sale dated as of September 28, 2010 (as amended, the “Agreement”), and now wish to amend the Agreement on the
terms hereinafter provided. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Seller and Buyer hereby amend the Agreement as follows: 

1.      Definitions.  Capitalized terms used herein but not otherwise
defined have the meanings ascribed to them in the Agreement. 

2.      Reduction of Purchase Price.  Seller and Buyer have agreed to
reduce the Purchase Price under the Agreement to address (i) Buyer’s obligations that may arise after the Closing with respect to that certain Option Agreement between Carr Texas OP, L.P. and Washington Mutual Bank as evidenced by that
certain Memorandum of Option Agreement dated June 23, 2005 and recorded June 27, 2005 in Volume 2005124, Page 9019 in the official records of Dallas County, Texas, and (ii) certain base year adjustments relating to JPMorgan Lease.
Accordingly, Section 1.1(cc) is deleted in its entirety and replaced with the following: 

“Purchase Price.  Eighteen Million One Hundred Thirty-Four Thousand Five Hundred
Eighty-Eight and No/100 Dollars ($18,134,588.00), plus or minus prorations as described in this Agreement.” 
 3.      Window Escrow. 

(a)    The following shall be added as a new Section 7.1(d) of the Agreement: 

“Window Work.    Prior to the Closing, Seller shall complete certain window repair
work and replacement of materials as generally described on Exhibit M attached hereto and made a part hereof (the “Window Work”) and Buyer shall have the right from time to time to inspect and approve the same in its sole
discretion. In the event Buyer does not approve the Window Work prior to the Closing Date, then at Closing, 

 
Buyer shall withhold the amount of Five Thousand and No/100 Dollars ($5,000.00) (the “Holdback Amount”) from the Purchase Price to be paid at Closing to secure Seller’s
obligation to complete the Window Work to Buyer’s satisfaction on or before November 5, 2010 (the “Outside Window Completion Date”). If Seller completes the Window Work to Buyer’s satisfaction on prior to the Outside
Window Completion Date, Buyer shall disburse the Holdback Amount to Seller within two (2) business days after Buyer’s approval of the Window Work. If Seller fails to complete the Window Work by the Outside Window Completion Date, then
Buyer may retain and use the Holdback Amount to complete the Window Work and shall disburse any excess funds to Seller. This Section 7.1(d) shall survive the Closing.” 

(b)    The Window Work description attached hereto as Exhibit A shall be included and attached
as Exhibit M to the Agreement. 

4.      Ratification.    In all other respects, except as
modified hereby, the Agreement remains unmodified and in full force and effect. 

5.      Counterparts.  This Amendment may be executed in counterparts,
each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same instrument, binding on the parties hereto, and the signature of any party to any counterpart shall be deemed a signature to, and may
be appended to, any other counterpart. 
 [Remainder of page intentionally left blank. Signature pages to follow.]

  
 IN
WITNESS WHEREOF, the parties hereto have executed this Amendment on the day and year written above. 
  

									
		 		 	 SELLER:

			
		 		 	 BREOF BNK3A ROYAL RIDGE LP, a Delaware limited

partnership

				
		 		 	By:	 	 BREOF BNK3A GP LLC, a Delaware limited

liability company, its general partner

			
		 		 	 By: /s/ Michael Speer

		 		 	 Name: Michael Speer

		 		 	 Title: ASO

			
		 		 	 BUYER:

			
		 		 	 WELLS CORE OFFICE INCOME OPERATING
 PARTNERSHIP, L.P., a Delaware limited partnership

				
		 		 	By:	 	 Wells Core Office Income REIT, Inc., a Maryland

corporation, its general partner

				
		 		 		 	 By: /s/ Douglas P. Williams

		 		 		 	 Name: Douglas P. Williams

		 		 		 	 Title: Executive Vice President

  
 EXHIBIT A

 Window Work 
 See attached. 

  

 

 

 WORK PROPOSAL 
  

					
	 TO:
	 	 CB Richard Ellis
	  	 DATE: September 30, 2010

		 	 3929 John Carpenter Frwy
	  	
		 	 Irving, Tx 75063
	  	 PROJECT: Chase Bank-Royal Ridge

		
	  
 ATTENTION: Sarah Gilman
	  	  
 PROPOSAL REQUEST
NO:

 DESCRIPTION OF CHANGE: 

1) Furnish and install Anti-Walk blocks in 128 windows. All 128 windows will be adjusted as necessary to
within manufacturer’s industry standards to align with the rubber gasket (vertically and horizontally). OCMG is not responsible for replacing any glass that is rejected due to not meeting these standards. Should any additional windows need
adjustment OCMG will adjust at the cost agreed upon per window. 
 Should this proposed change be accepted, it is understood
that the terms and conditions of the subcontract agreement shall apply to this change unless noted otherwise. No proposed change work will be performed without fully executed changed order. 

Submitted by: 

OAK CLIFF MIRROR & GLASS CO., INC. 

	
	
	

	 Project Manager

• CURTAIN WALL    • WINDOW WALL 

• STORE FRONT

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