Document:

EX-10.2

 Exhibit 10.2 
  

EXECUTION VERSION 

ASSET MANAGEMENT AGREEMENT 

This ASSET MANAGEMENT AGREEMENT (as amended or restated from time to time, including all appendixes and exhibits thereto, this
“Agreement”), dated as of July 6, 2018, by and between Creek Pine REIT, LLC, a Delaware limited liability company (the “Company”), Crown Pine Realty 1, Inc., a Delaware corporation (“CPR1”),
and CatchMark TRS Creek Management, LLC, a Delaware limited liability company (the “Asset Manager”). The Company, CPR1 and the Asset Manager are each referred to herein as a “Party” and collectively as the
“Parties.” 
 RECITALS 

WHEREAS, the Company intends to elect to be taxed as a REIT (as hereinafter defined) for federal income tax purposes; 

WHEREAS, the Company shall cause CPR1 to undertake certain activities the income from which would not (or the activities of which would
cause any rents not to) be treated with respect to the Company as “qualifying income” (within the meaning of Section 856(c) of the Code); and 

WHEREAS, CPR1 and the Company desire that the Asset Manager provide such services to the Company and its Subsidiaries (including CPR1)
as are set forth herein, and the Asset Manager desires to render such services in consideration of the compensation provided for herein. 

NOW, THEREFORE, in consideration of the mutual agreements set forth herein, the Parties agree as follows: 

1. DEFINED TERMS. used in this Agreement shall, unless the context otherwise requires, have the meanings specified in this
Section 1 or, if not so specified, shall have the meanings given to such defined terms in the Company LLC Agreement. 

(a) “Affiliate” means, in relation to a Person, any holding company, subsidiary or any other subsidiaries of any such
holding company, in each case of such Person and any Person that Controls, is Controlled by or is under common Control with such Person. 

(b) “Agreement” shall have the meaning set forth in the Preamble. 

(c) “Allowable Variance” shall have the meaning set forth in Section 3(b). 

(d) “Alternative Voting System” shall have the meaning ascribed to such term in the Company LLC Agreement. 

(e) “Annual Budget” shall have the meaning set forth in Section 3(a). 

(f) “Annual Harvest Schedule” shall have the meaning set forth on Schedule
B-2. 
 (g) “Applicable Rate” shall have the meaning set forth in
Section 9(a). 

 (h) “Asset Management Fee” shall have the meaning set forth in
Section 9(a). 
 (i) “Asset Manager” shall have the meaning set forth in the Preamble. 

(j) “Bad Act” means, with respect to a Person, (i) gross negligence, (ii) bad faith, (iii) fraud, or
(iv) willful misconduct; provided, that, other than with respect to fraud, if the applicable action or circumstance is curable, then the breaching party will not be deemed to have caused the occurrence of a Bad Act pursuant to this
definition if such party cures the applicable action or circumstance (including, for the avoidance of doubt, paying or otherwise remedying any adverse effects resulting from the Bad Act and otherwise offsetting any Losses suffered by other relevant
Persons) within the thirty (30) days following the receipt of written notice thereof. For the avoidance of doubt, for purposes of Section 11(c), any Loss in respect of or arising from an act by the Asset Manager as a
fiduciary under the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder shall not constitute a “Bad Act.” 

(k) “Bankruptcy” shall have the meaning ascribed to such term in the Company LLC Agreement. 

(l) “Beginning Preferred Partner Ratio” shall mean the number equal to (x) the aggregate amount of all Capital
Contributions (as such term is defined in the Parent LP Agreement) made by the Preferred Partners in accordance with the Parent LP Agreement as of the date hereof, divided by (y) the aggregate amount of all Capital Contributions made by
all Partners in accordance with the Parent LP Agreement as of the date hereof. 
 (m) “Budget Development Protocols”
shall have the meaning set forth in Section 3(a). 
 (n) “Budget Impasse” shall have the
meaning set forth in Section 3(c). 
 (o) “Business Assets” shall have the meaning ascribed
to such term in the Company LLC Agreement. 
 (p) “Business Day” shall have the meaning ascribed to such term in the
Company LLC Agreement. 
 (q) “Capital Contribution” shall have the meaning ascribed to such term in the Parent LP
Agreement. 
 (r) “Cause” shall mean any of the following: 

(i) there has been a final determination by a court of competent jurisdiction, or an admission by the Asset Manager or any of
its Affiliates, that the Asset Manager or any of its Affiliates has committed, in connection with the performance of the Asset Manager’s duties under this Agreement, (1) fraud or intentional misappropriation of funds, (2) willful
misconduct, (3) gross negligence; or (4) a breach of this Agreement resulting in material Losses to the Parent, the Company or any of its Subsidiaries, taken as a whole; provided, that, such an occurrence shall not constitute
“Cause” to the extent (1) 

  
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the act or omission is the result of the conduct of an employee of the Asset Manager or its Affiliates who is not otherwise a Senior Officer, (2) such conduct occurs without the prior
knowledge of a Senior Officer or (3) such “Cause” event is cured within thirty (30) days, which cure may include: (x) the removal of the subject employee from the Asset Manager or the applicable Affiliate, as
applicable; (y) a comprehensive review by the Asset Manager or the applicable Affiliate of its internal policies and procedures to determine whether additional procedures should be implemented in order to prevent such act or event by the Asset
Manager (or such Affiliate thereof); and (z) full restitution and reimbursement is made to the Parent, the Company or the applicable Subsidiary, or to the Preferred Partners, as applicable, by the Asset Manager, for any Losses caused by such
Cause event; 
 (ii) a Transfer by the General Partner or any of its Affiliates in contravention of the Parent LP Agreement
that is not cured within thirty (30) days after the earlier of (x) the General Partner (or CTT Partner (as such term is defined in the Parent LP Agreement)) becoming aware of such Transfer or (y) written notice from a Partner
specifying the breach; 
 (iii) the Asset Manager has failed to retain certification by or to obtain recertification from
Sustainable Forestry Initiative Inc. with respect to all of the Property; or; 
 (iv) the Bankruptcy of (i) the Asset
Manager or (ii) CTT, CatchMark Timber Operating Partnership, L.P., or any Affiliate thereof that directly holds equity interests in Parent. 

(s) “Change of Control” shall mean any transaction or series of related transactions which directly or indirectly
results in: 
 (i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) of the
Securities Exchange Act of 1934, as amended (“Exchange Act”)) of direct or indirect beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of
either the then-outstanding shares of common stock of CTT or the Asset Manager or the combined voting power of any other then-outstanding securities of CTT or the Asset Manager entitled to vote generally in the election of directors (as applicable
with respect to CTT or the Asset Manager the “Outstanding Voting Securities”); or 
 (ii) any merger,
consolidation, reorganization or other similar transaction pursuant to which CTT or the Asset Manager is merged with and into or otherwise acquired by another entity; excluding, however, any such transaction pursuant to which the individuals
and entities who are beneficial owners of the applicable entity’s Outstanding Voting Securities immediately prior to such transaction will in the aggregate beneficially own, directly or indirectly, 50% or more of the outstanding shares of
common stock, and the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such transaction (including a corporation that as a result
of such transaction owns CTT or the Asset Manager, as applicable, or all or substantially all of the assets of CTT or the Asset Manager, as applicable, either directly or through one or more subsidiaries). 

  
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 (t) “Closing” shall have the meaning ascribed to such term in the Parent
LP Agreement. 
 (u) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(v) “Company” shall have the meaning set forth in the Preamble. 

(w) “Company Account” shall have the meaning set forth in Section 7. 

(x) “Company Board” shall mean the board of managers of the Company, as established and maintained pursuant to the
Company LLC Agreement. 
 (y) “Company LLC Agreement” means the Amended and Restated Limited Liability Company
Agreement of the Company (as amended or restated from time to time, including all appendixes and exhibits thereto). 
 (z)
“Confidential Information” shall have the meaning set forth in Section 8(b). 
 (aa)
“Constituent Members” means any Person that is an officer, director, member, partner or shareholder in a Person, or any Person that, indirectly through one or more limited liability companies, partnerships or other entities, is
an officer, director, member, partner or shareholder in a Person. 
 (bb) “Control” means, in relation to a
Person, where a person (or persons acting in concert) holds or has direct or indirect control of (i) the affairs of that Person, or (ii) more than fifty percent (50%) of the total voting rights conferred by all the issued shares in the
capital of that Person which are ordinarily exercisable in a general meeting (or the equivalent) or (iii) a majority of the board of directors/managers of that Person, and “Controlled by” and “Controlling”
shall be construed accordingly. For these purposes, “persons acting in concert,” in relation to a Person, are persons which actively cooperate pursuant to an agreement or understanding (whether formal or informal), with a view to
exercising, obtaining or consolidating Control of that Person. 
 (cc) “CTT” shall mean CatchMark Timber Trust, Inc.

 (dd) “Deferred Asset Management Fees” shall have the meaning ascribed to such term in the Company LLC Agreement.

 (ee) “Excluded Loss” means (a) any Losses to the extent the same are reimbursed by insurance proceeds or
indemnities from third parties and (b) any consequential, special, punitive or exemplary damages to the extent such damages are not owed to a third party in connection with any third party claim. 

(ff) “Expenses” shall have the meaning set forth in Section 10(a) 

  
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 (gg) “Fiscal Quarter” shall have the meaning ascribed to such term in the
Company LLC Agreement. 
 (hh) “Fiscal Year” shall have the meaning ascribed to such term in the Company LLC
Agreement. 
 (ii) “General Partner” shall have the meaning ascribed to such term in the Parent LP Agreement. 

(jj) “Government Authority” means (i) a federal or national government, any state government, any political
subdivision thereof, or any local jurisdiction therein; (ii) an instrumentality, board, commission, court or agency, whether civilian or military, of any of the above, however constituted; (iii) a public organization, being an organization
whose members are (A) countries or territories; (B) governments of countries or territories; and/or (C) other public international organizations and includes the World Bank, the United Nations, the International Monetary Fund and the
OECD; or (iv) any company, association, organization, business, enterprise or other entity which is owned, whether in whole or in part, or controlled by any person listed in (i) to (iii) above. 

(kk) “Indemnified Party” shall have the meaning set forth in Section 11(c). 

(ll) “Indemnitor” shall have the meaning set forth in Section 11(d). 

(mm) “Initial Annual Budget” shall have the meaning set forth in Section 3(a). 

(nn) “Key Man” shall mean any person set forth on Schedule A attached hereto. 

(oo) “Key Man Employment Agreement” shall mean the Employment Agreements listed on Schedule A attached hereto,
as such may be amended, restated, supplemented, modified or otherwise renegotiated. 
 (pp) “Key Man Event” shall
have the meaning set forth in Section 12. 
 (qq) “Law” means any law, statute, act,
legislation, bill, enactment, policy, treaty, international agreement, ordinance, judgment, injunction, award, decree, rule, regulation, interpretation, determination, requirement, writ or order of any Government Authority. 

(rr) “Loss” or “Losses” means the dollar amounts of all actual costs, claims, suits, actions, damages,
losses, liabilities, obligations, reasonable fees and expenses of any kind or nature, including costs and expenses of accountants, attorneys and other professionals, judgments, fines, penalties, settlements and all other costs and expenses and
disbursements of any nature or type actually paid or incurred or imposed on or asserted against a specified Person, and all costs and expenses paid or incurred by the prevailing party or any of its Affiliates in litigating against any other party or
any of its Affiliates, but specifically excluding in all such cases any Excluded Loss. 

  
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 (ss) “Major Decision” shall have the meaning ascribed to such term in the
Company LLC Agreement. 
 (tt) “Manager Indemnified Parties” shall have the meaning set forth in
Section 11(a). 
 (uu) “Non-Controllable Expenses”
shall have the meaning set forth in Section 3(c). 
 (vv) “Parent” shall mean TexMark
Timber Treasury, LP, a Delaware limited partnership. 
 (ww) “Parent Board” shall mean the partnership board of the
Parent, as established and maintained pursuant to the Parent LP Agreement. 
 (xx) “Parent Indemnified Parties” shall
have the meaning set forth in Section 11(c). 
 (yy) “Parent Partners” shall mean the
Partners of the Parent, as defined in the Parent LP Agreement. 
 (zz) “Parent LP Agreement” means the Amended and
Restated Limited Partnership Agreement of TexMark Timber Treasury, L.P., a Delaware limited partnership (as amended or restated from time to time, including all appendixes and exhibits thereto). 

(aaa) “Partner” shall have the meaning set forth in the Parent LP Agreement. 

(bbb) “Party” shall have the meaning set forth in the Preamble. 

(ccc) “Person” means an individual or a general partnership, limited partnership, corporation, professional
corporation, limited liability company, limited liability partnership, joint venture, trust, business trust, unincorporated organization, cooperative or association or a governmental, administrative or regulatory agency or any other entity. 

(ddd) “Preferred Board Members” shall have the meaning set forth in Section 3(a). 

(eee) “Preferred Partners” shall have the meaning ascribed to such term in the Parent LP Agreement. 

(fff) “Preliminary Budget” shall have the meaning set forth on Schedule
B-2. 
 (ggg) “Property” shall have the meaning ascribed to such term in
the Company LLC Agreement. 
 (hhh) “Purchase Price” shall mean $1,379,000,000. 

  
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 (iii) “Qualified REIT Consultant” means a nationally recognized
accounting firm, which may be the Company’s audit or tax firm, or a nationally recognized law firm selected by the Asset Manager. 

(jjj) “REIT” means a “real estate investment trust” under Section 856 of the Code 

(kkk) “Senior Credit Documents” shall have the meaning ascribed to such term in the Parent LP Agreement. 

(lll) “Senior Lender” shall have the meaning ascribed to such term in the Parent LP Agreement. 

(mmm) “Senior Officer” means a senior officer or director of the Asset Manager or its Affiliates. 

(nnn) “Services” shall have the meaning set forth in the Section 2(b). 

(ooo) “Subsidiaries” means, with respect to any Person, any corporation, partnership, limited liability company, trust
or other entity of which all or any part of the outstanding equity interests are owned, directly or indirectly, by such Person. For the avoidance of doubt, the Company and its Subsidiaries and CPR1 shall each be considered a Subsidiary of Parent,
and CPR1 shall be considered a Subsidiary of the Company, for purposes of this Agreement. 
 (ppp) “Termination Date”
shall mean the effective date of any termination of this Agreement in accordance with the terms hereof. 
 (qqq) “Thirty-Year
Harvest Schedule” shall have the meaning set forth on Schedule B-2. 
 (rrr)
“Three-Year Harvest Plan” shall have the meaning set forth on Schedule B-2. 

(sss) “Timber Manager” shall mean any entity that has been retained by the Company or a Subsidiary thereof to perform
and carry out property management services at the Property or any other Real Estate Assets. 
 (ttt) “Transfer” shall
have the meaning ascribed to such term in the Company LLC Agreement. 
 (uuu) “Wood Supply Agreements” shall have the
meaning ascribed to such term in the Company LLC Agreement. 

  
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 2. APPOINTMENT AND DUTIES OF THE ASSET MANAGER. 

(a) On the terms and subject to the conditions set forth in this Agreement, the Company, on its own behalf and on behalf of each of its
Subsidiaries, hereby appoints the Asset Manager to serve as asset manager and to provide the Services, and the Asset Manager hereby accepts such appointment. Except as otherwise provided herein or in connection with the termination of this
Agreement, neither the Company nor any of its Subsidiaries shall appoint any other Person to serve as Asset Manager or to provide the services of the Asset Manager as set forth in this Agreement, except to the extent that the Asset Manager otherwise
agrees, in its sole and absolute discretion. Whenever in this Agreement the approval or consent of the Company is required, such approval shall be obtained through the affirmative action of the Company Board, in accordance with the terms of the
Company LLC Agreement. 
 (b) The Asset Manager undertakes and agrees to use all commercially reasonable efforts to provide the
Services and to otherwise fulfill its obligations hereunder. In rendering the Services and otherwise fulfilling its obligations hereunder, the Asset Manager will at all times (i) be subject to the supervision, management and direction of the
Company Board and any applicable approvals required by or restrictions imposed by this Agreement, the Company LLC Agreement or the Parent LP Agreement and, (ii) have only such functions and authority as the Company Board may delegate to it,
including the functions and authority identified herein and delegated to the Asset Manager hereby, (iii) not take, or cause to be taken, any action that constitutes a Major Decision without such action having received the required prior
approval of the Parent Board or the Company Board, as applicable, in accordance with the Parent LP Agreement or the Company LLC Agreement, as applicable, (iv) act in a manner consistent with, and subject to, the applicable Annual Budget
(subject to Section 3 hereof) and applicable Law and (v) act in good faith as a reasonable expert in managing forestry investments. Subject to the foregoing, during the term of this Agreement, the Asset Manager will be
responsible for the following (collectively, the “Services”): 
 (i) preparing the Annual Budget and
presenting the Annual Budget for approval in accordance with Section 3 hereof and the Company LLC Agreement; 

(ii) implementing each Annual Budget following the approval thereof in accordance with the terms of such approved Annual Budget
and Section 3 hereof; 
 (iii) administering the day-to-day business and operations of the Company and its Subsidiaries and performing and supervising the performance of such administrative functions necessary to the management of the Company and its
Subsidiaries as may be agreed upon by the Asset Manager and the Company Board; 
 (iv) assisting the Company in retaining at
all times a Qualified REIT Consultant and other advisors to advise the Company regarding the maintenance of the Company’s qualification as a REIT and monitoring compliance with the various REIT qualification tests and other rules set out in the
Code and Treasury Regulations thereunder; 
 (v) investigating, selecting, engaging and supervising, on behalf of the Company
and its Subsidiaries, third party service providers as contemplated by Section 2(c) hereof; 

  
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 (vi) overseeing the performance by each Timber Manager of its duties and making
periodic recommendations to the Company Board regarding the engagement, or termination of, such Timber Managers; 
 (vii)
identifying, investigating, analyzing and originating potential investment opportunities for the Company and its Subsidiaries, to the extent directed to do so by the Company Board; 

(viii) consulting with the Company Board regarding acquiring, financing, retaining, selling, restructuring or disposing of
Business Assets and recommending strategies for the same; 
 (ix) supervising and structuring prospective sales or exchanges
of Business Assets, and conducting negotiations with purchasers, brokers, lenders and, if applicable, their respective agents and representatives, in each case, as requested by the Company Board; 

(x) identifying, evaluating and recommending sources of financing for the Company and its Subsidiaries, as requested by the
Company Board; 
 (xi) providing the Company Board with periodic review and evaluation of the performance of the Business
Assets and other customary functions related to asset management; 
 (xii) taking required actions on behalf of the Company
and its Subsidiaries to qualify to do business in all applicable jurisdictions and to obtain and maintain all appropriate licenses; 

(xiii) taking required actions on behalf of the Company and its Subsidiaries in complying with all applicable regulatory
requirements with respect to their business activities; 
 (xiv) preparing and filing all tax returns and tax elections which
are required by applicable law to be filed or are otherwise advisable and taking all other action reasonably necessary in connection with such required tax filings and reports with respect to the Company and its Subsidiaries (subject to the written
approval of the Company and/or its Subsidiaries, as applicable); 
 (xv) preparing, or causing to be prepared, and delivering
(i) the financial reports and other information set forth in Section 4 hereof (pursuant to the terms thereof), and, (ii) the information related to tax matters set forth in Section 5
hereof (pursuant to the terms thereof); 
 (xvi) preparing and providing for submission to and approval by the Company Board,
prior to approval of the first Annual Budget, health and safety policies and procedures for employees and contractors (including all reasonably requested amendments thereto from the Company Board), as well as for tracking, reporting and managing
workplace health and safety; 

  
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 (xvii) ensuring that the Business Assets are managed in accordance with
Sustainable Forestry Initiative requirements, including all required reporting and auditing obligations, and forecasting a timeline for audits and recertification, as applicable, and reporting to the Company Board on the same; 

(xviii) complying with the requirements of the Wood Supply Agreements, including preparing, delivering and obtaining approval
of the Annual Plan, Forecast Plan and Delivery Plan (as each such term is defined in the Wood Supply Agreements) each year when and as required in the Wood Supply Agreements; 

(xix) reporting quarterly to the Company Board any variances in harvest from the harvest plans for the previous calendar
quarter exceeding Allowable Variance as identified on Exhibit A appended hereto, and shall not exceed any such Allowable Variance without having first obtained the approval of the Company Board; 

(xx) submitting to the Company Board monthly reports detailing any recordable incidents for employees and contractors that
occurred in the previous month and any material environmental compliance matters, including violations or potential violations of Laws and best management practices applicable to the Business Assets, the Company and its Subsidiaries, and the
operation of the same; 
 (xxi) preparing, or causing to be prepared, and delivering, or causing to be delivered, to the
lenders or other creditors of the Company or any of its Subsidiaries, such financial information, reports and other information as is required pursuant to the terms of any loan or credit agreement between the Company or any of its Subsidiaries and
such lenders or creditors; 
 (xxii) providing such other services (i) related to the foregoing as the Asset Manager and
the Company Board may reasonably agree upon or (ii) set forth elsewhere herein; and 
 (xxiii) doing all things
reasonably necessary to assure its ability to render the Services as described in this Agreement. 
 Notwithstanding anything else to the
contrary in this Agreement, the Asset Manager shall, at all times in its provision of the above Services, (A) hold itself out to the public as a legal entity separate and distinct from the Parent, the Company and its Subsidiaries,
(B) correct any known misunderstanding regarding its status as a separate entity from the Parent, the Company and its Subsidiaries, (C) conduct and operate its business in its own name and (D) not identify itself or any of its
Affiliates as a division or part of the Parent, the Company or its Subsidiaries. Further, the Asset Manager shall not assume any liability for any obligations of the Parent, the Company and their Subsidiaries (and shall clearly identify in any
action taken on behalf of the Company or their Subsidiaries that the Asset Manager is acting in the capacity as agent and not in its individual capacity), and neither the Asset Manager nor the Company or the any of their Subsidiaries shall hold the
Asset Manager out to any third parties as liable for any of the obligations of the Parent, the Company or any of their Subsidiaries. For the avoidance of doubt, the immediately preceding sentence is not intended to modify the liability of any
Affiliate of the Asset Manager that owns equity interests of the Parent, subject to the applicable provisions of the Parent LP Agreement. 

  
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 (c) The Asset Manager may investigate, select, recommend, engage and supervise, for and on
behalf of, and at the sole cost and expense of, the Company or its Subsidiaries, accountants, legal counsel, appraisers, insurers, brokers, transfer agents, registrars, developers, investment banks, valuation firms, financial advisors, due diligence
firms and such other third party professionals as the Asset Manager reasonably deems necessary or advisable in connection with the performance of the Services and its other obligations hereunder, and the Company or its Subsidiaries shall pay for the
reasonable cost and expenses thereof, including pursuant to Section 7 of this Agreement. Any such engagement of third party professionals shall not relieve the Asset Manager from its obligations hereunder. 

(d) Anything in this Agreement to the contrary notwithstanding, but subject to Section 2(g), the Asset Manager
shall refrain from taking any action which, in its sole judgment made in good faith, would (i) reasonably be expected to adversely affect the status of the Company as a REIT, (ii) subject Parent, the Company or any of its Subsidiaries to
regulation under the Investment Company Act of 1940, as amended, or (iii) violate any applicable Law or otherwise not be permitted by the Company LLC Agreement or the Parent LP Agreement. If such action shall be ordered by the General Partner,
the Parent Board or Company Board, the Asset Manager shall notify promptly the General Partner, the Parent Board or Company Board, as applicable, of the Asset Manager’s judgment of the potential impact of such action and shall refrain from
taking such action. In such event, the Asset Manager shall have no liability for acting in accordance with the specific instructions of the General Partner, the Parent Board or Company Board so given. Notwithstanding the foregoing, the Manager
Indemnified Parties shall not be liable to Parent, the Company or any of their respective Subsidiaries, the General Partner, the Parent Board or the Company Board, or the members, managers or partners of the General Partner, Parent, the Company or
any of their respective Subsidiaries, for any act or omission by any Manager Indemnified Parties except as provided in Section 11 of this Agreement. 

(e) In the performance of its obligations and responsibilities hereunder, the Asset Manager shall not (i) use any corporate funds
for any illegal contributions, gifts, entertainment or other unlawful expenses relating to political activity, (ii) use any corporate funds for any direct or indirect unlawful payments to any foreign or domestic governmental officials or
employees or any employees of a foreign or domestic government-owned entity, (iii) violate any provision of the Foreign Corrupt Practices Act of 1977 or any other anticorruption Law applicable to the Company or any of its Subsidiaries,
(iv) make, offer, authorize or promise any payment, rebate, payoff, influence payment, contribution, gift, bribe, rebate, kickback, or any other thing of value to any government official or employee, political party or official, or candidate,
regardless of form, to obtain favorable treatment in obtaining or retaining business or to pay for favorable treatment already secured, (v) establish or maintain any fund of corporate monies or other properties for the purpose of supplying
funds for any of the purposes described in the foregoing clause (iv) or (vi) make any bribe, unlawful rebate, payoff, influence payment, facilitation payment, kickback or other similar payment of any nature. The Asset Manager shall develop and
implement an anti-corruption compliance program that includes internal controls, policies and procedures designed to ensure compliance with any applicable national, regional or local anti-corruption Law. The Asset Manager shall report violations or
suspected violations of applicable anti-corruption Law or this Section 2(e) to the Company Board as soon as practicable after the Asset Manager becomes aware of or suspects a violation. 

  
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 (f) Without limiting any provision herein, all actions of the Parent and the Company under
this Agreement requiring the consent or approval of the Company Board shall be subject to the direction of the members of the Company Board. Asset Manager expressly acknowledges Section 4.12(b) of the Parent LP Agreement and the Company LLC
Agreement. 
 (g) Asset Manager shall, and shall use reasonable best efforts to take all actions required to cause the Company to,
comply with Sections 4.11 and 5.2 of the Company LLC Agreement. 
 (h) Asset Manager expressly acknowledges the restrictions on
Parent’s activities pursuant to Sections 4.17 and 4.19 of the Parent LP Agreement, and understands that the restrictions in Section 4.17 include the actions of an agent acting on its behalf. Asset Manager acknowledges and agrees that for
U.S. federal income tax purposes it is providing Services to and on behalf of distinct principals pursuant to this Agreement and agrees that it shall use reasonable best efforts to take all actions (including avoiding taking actions) required to
cause Parent to comply with such provisions of the Parent LP Agreement, without prejudice to actions required to be undertaken on behalf of the Company or its Subsidiaries. 

3. ANNUAL BUDGET. 
 (a)
The Company and its Subsidiaries shall be operated in accordance with an annual budget, as it may be annually updated from time to time pursuant to this Section 3 (the “Annual Budget”). The initial
Annual Budget for the period beginning on the Effective Date and ending on December 31, 2018, including the related variances, is attached hereto as Schedule B-1 (the “Initial Annual
Budget”). For each Fiscal Year thereafter, the Asset Manager shall be responsible for preparing and submitting to the Company Board for approval as a Major Decision in accordance with the terms of the Company LLC Agreement a proposed
updated Annual Budget, including the related variances. The Annual Budget shall be prepared by the Asset Manager in accordance with the protocols (including the preparation of the back-up materials on the
timetable set forth therein) set forth on Schedule B-2 hereto (the “Budget Development Protocols”). The Annual Budget for each Fiscal Year shall be prepared with the same detail and
line items as set forth in the Initial Annual Budget and such other detail as the members of the Company Board appointed by the Preferred Partners in accordance with Section 4.3(c) of the Parent LP Agreement (the “Preferred Board
Members”) may reasonably request. In connection with the review of a proposed Annual Budget, the Preferred Board Members may reasonably request additional information regarding the materials supporting the proposed Annual Budget or such
other information as is necessary or desirable to enable review of such proposed Annual Budget, and the Asset Manager shall provide such requested information. The Preferred Board Members shall consent to or reject the proposed Annual Budget, or
request additional information (as provided for above), within ten (10) Business Days following (i) receipt of such proposed Annual Budget or (ii) receipt of all additional information that is, in the determination of the Preferred
Board Members, necessary or desirable to enable review of such proposed Annual Budget. The Asset Manager shall comply with the Budget Development Protocols regarding the Preliminary Budget for each Fiscal Year. The Annual Budget shall be prepared
and submitted annually by the Asset 

  
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Manager no later than December 10, 2018 for the next Fiscal Year and thereafter by December 10 of each year with respect to the following Fiscal Year. The Annual Budget for each Fiscal
Year shall include use of the pre-funded reserve amounts as shown on Schedule B-3 hereto for the four Fiscal Quarters comprising such Fiscal Year. In connection
with the submission of the Annual Budget, the Asset Manager shall also prepare and submit to the Company Board an annual business plan for Parent and its Subsidiaries, including a responsible five-year operations forecast, including the operating
metrics set forth on Schedule B-4 hereto (the “Annual Plan”). The Preferred Board Members, or their designated representatives, shall be provided reasonable access to all information,
data, reports, models and analyses relied on in developing the Annual Plan (including, for the avoidance of doubt, all financial and silvicultural assumptions, constraints, supporting stand level data, merchantable timber volumes, pre-merchantable acres by species and age class, and acres by land classification). 
 (b) Pursuant
to this Agreement, the Asset Manager is charged with implementing each Annual Budget following the approval thereof, in accordance with the terms of such approved Annual Budget and the terms of this Agreement. In doing so, the Asset Manager shall at
all times act in a manner consistent with the Annual Budget; provided, however, that the Asset Manager may in its discretion expend funds for Non-Controllable Expenses (as defined below) not otherwise
reflected in the Annual Budget. In implementing the Annual Budget, the Asset Manager may in its discretion vary material line items in the applicable Annual Budget within the variances set forth in set forth in Exhibit A appended hereto (such
variances being referred to herein as “Allowable Variances”). Asset Manager shall not exceed any Allowable Variance without having first obtained the approval of the Company Board. 

(c) In the event the Asset Manager is unable to obtain the approval of the Company Board of any Annual Budget prior to the intended
period for such Annual Budget, then a “Budget Impasse” shall be deemed to exist, until such time as such Annual Budget is approved in accordance with this Agreement, the Parent LP Agreement and Company LLC Agreement. During any
Budget Impasse, the Asset Manager shall perform the Services and otherwise fulfill its obligations under this Agreement in accordance with the most recently approved Annual Budget, except that (i) the Asset Manager may make or cause to be made
any expenditure not contemplated by such Annual Budget which is (1) an emergency expenditure to protect the health, safety and welfare of people or property (in which event the Asset Manager shall notify the Company Board immediately) or
(2) an expenditure to satisfy (A) any outstanding taxes and related fees, costs and expenses, (B) any obligations for interest, principal (except at maturity), escrows, fees and expenses due under the Senior Credit Documents and any
other indebtedness approved as a Major Decision or (C) premiums for insurance required under this Agreement, the Parent LP Agreement or the Company LLC Agreement, and Senior Credit Documents, any loan document relating to indebtedness approved
as a Major Decision or any other contract to which the Parent or any of its Subsidiaries is a party that are entered into in accordance with the Parent LP Agreement (such expenses, “Non-Controllable
Expenses”) and (ii) the Asset Manager acting alone shall otherwise have no authority to make any other expenditure without the approval of the Company Board as a Major Decision. 

  
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 4. REPORTING. 

(a) The Asset Manager shall prepare, or cause to be prepared, at the expense of the Company and its Subsidiaries, all reports, financial
or otherwise, with respect to the Company and its Subsidiaries reasonably requested in order to comply with their respective organizational documents or any other materials required to be filed with any governmental body or agency, and shall
prepare, or cause to be prepared, all materials and data necessary to complete such reports and other materials. 
 (b) Without
limiting the generality of Section 4(a), the Asset Manager shall prepare, or cause to be prepared, and shall deliver to the Company and the Company Board, at the expense of Company, the following: 

(i) within forty-five (45) days after the end of each Fiscal Year, a report as of the end of such Fiscal Year prepared in
conformity with accounting principles generally accepted in the United States and consistently applied, setting forth (A) a balance sheet of Company (that will include appropriate footnote disclosure) as of the end of such Fiscal Year, and
(B) an income statement of Company for such Fiscal Year; provided, that the annual financial statements referred to in this Section 4(b)(i) shall be audited by a nationally recognized accounting firm in
accordance with generally accepted auditing standards in the United States and consistently applied, and such accounting firm’s report thereon shall accompany the annual financial statements ; provided, further, that while the
Asset Manager shall endeavor to provide such audited financial statements within the forty-five (45) day period stated above, it will not be considered to have breached this Section 4(b)(i) if it fails to do so if the
Asset Manager (x) is using commercially reasonable efforts to produce audited financial statements within such timeframe, (y) provides unaudited financial statements within such forty-five (45) day period and (z) provides such
audited financial statements as soon as practicable following such date but in any event no later than ninety (90) days after the end of such Fiscal Year; 

(ii) not later than forty-five (45) days after the end of each of the first three Fiscal Quarters of each Fiscal Year,
final versions of each of the following: 
 (A) An unaudited report setting forth as of the end of such fiscal quarter
(x) a balance sheet of Company as of the end of such Fiscal Quarter and (y) an income statement of Company for such Fiscal Quarter 

(B) A calculation of the reserves of the Company and the amount of “Base Available Cash,” “Net
Available Cash,” “Distributable Cash Flow” and “Remaining Distributable Cash Flow” as of the end of the relevant Fiscal Quarter, in each case, as defined in the Company LLC Agreement; 

(C) A narrative describing the condition of the Property and other Business Assets and operations of Company and its
Subsidiaries during such Fiscal Quarter; 
 (D) A report of any changes in the status of any major service contracts, any
material line item variances of more than ten percent (10%) from the Annual Budget and any litigation or other legal issues involving the Parent, the Company or its Subsidiaries during such Fiscal Quarter; and 

  
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 (E) A report providing a detailed description of each Permitted HBU Sale (as
defined in the Company LLC Agreement) consummated during such Fiscal Quarter. 
 (c) In addition to the reporting requirements set
forth above, the Asset Manager shall give notice to the Company Board of: 
 (i) Any items that will otherwise be reportable
under Section 4(b)(ii)(D) above promptly after the Asset Manager becomes aware of such item; 

(ii) Any known or reported non-conformance with applicable state and local regulations
and Sustainable Forestry Initiative standards or principles as in effect on the date hereof and as modified from time to time by Sustainable Forestry Initiative Inc.; and 

(iii) Any proposed transaction between the Company or any of its Subsidiaries, on one hand, and any other Person, on the other
hand, if such transaction would create a potential conflict of interest on the part of the Asset Manager in causing the Company or its Subsidiaries to enter into such transaction, or any other occurrence of a potential conflict of interest on the
part of the Asset Manager or its Affiliates in connection with causing Company (or its Subsidiaries) to enter into such transaction. 
 (d)
The Asset Manager shall meet with the Partners on a quarterly basis to discuss the quarterly reporting and such other topics relating to the business of the Company and its Subsidiaries as the other Partners may reasonably request. 

5. CERTAIN TAX MATTERS. The Asset Manager shall, at Company’s expense, use reasonable best efforts to (i) not later than
twenty-five (25) days from the end of each Fiscal Quarter (including the end of each Fiscal Year), provide to the Company a report regarding the Company’s compliance with the REIT asset tests in Section 856(c)(4) of the Code for such
Fiscal Quarter reviewed by the Qualified REIT Consultant, (ii) not later than forty-five (45) days from the end of each Fiscal Quarter, provide to the Company the quarterly REIT testing reports regarding the Company reviewed by the
Qualified REIT Consultant, and (iii) not later than forty-five (45) days after the end of each Fiscal Year, provide to the Company the final REIT testing report regarding the Company reviewed by the Qualified REIT Consultant. The Asset
Manager shall provide to the Company Board and Partners, as soon as is reasonably practicable following request thereof, any other information reasonably required to determine compliance by the Company with the requirements under Section 856
et seq. of the Code and the related Treasury Regulations for the Company to (x) qualify for, and maintain, status as a REIT and (y) avoid the imposition of any U.S. federal income tax or penalty on the Company. 

  
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 6. ADDITIONAL ACTIVITIES. Nothing in this Agreement is intended to prevent the Asset
Manager or any of its Affiliates, officers, directors, employees or personnel from engaging in other activities, investments or businesses, including from rendering advice or services of any kind to any other Person so long as Asset Manager complies
at all times with Section 8 and promptly notifies the Company Board of any such activities that conflict with its obligations hereunder. 

7. BANK ACCOUNTS. At the direction of the Company Board, the Asset Manager may establish and maintain one or more bank accounts
in the name of the Company or any of its Subsidiaries (any such account, a “Company Account”), and may collect and deposit funds into any such Company Account or Company Accounts, and disburse funds from any such Company Account or
Company Accounts for the payment of Expenses, under such terms and conditions as the Company Board may approve. The Asset Manager shall from time to time render appropriate accountings of such collections and disbursements to the Company and, upon
the request of the Company Board, to the Company’s auditors. The Asset Manager shall disburse funds to pay Expenses from the Company Account in the name of the entity with respect to which such Expenses relate. For the avoidance of doubt, the
Asset Manager’s disbursement of funds from the Company Accounts for the payment of Expenses or any other amounts shall be subject to the terms of the applicable Annual Budget and any limitations on specific Expenses set forth in
Section 10(a). 
 8. RECORDS; CONFIDENTIALITY. 

(a) The Asset Manager shall maintain and preserve the books and records of the Company and its Subsidiaries (including accounting and
reporting systems), and such records shall be accessible for inspection by the General Partner or representatives of Parent, the Company or any of its Subsidiaries at any time during normal business hours upon reasonable advance written notice. 

(b) The Asset Manager shall keep confidential any and all information regarding Parent, the Company or its Subsidiaries obtained in
connection with the Services rendered under this Agreement (“Confidential Information”) and shall not disclose any such Confidential Information (or use the same except in furtherance of its duties under this Agreement) to
unaffiliated third parties except (i) with the prior written consent of Company Board; (ii) to legal counsel, accountants and other professional advisors; (iii) to appraisers, financing sources and others in the ordinary course of
business of Parent, the Company and its Subsidiaries; (iv) to governmental officials having jurisdiction over Parent, the Company or any of its Subsidiaries; (v) in connection with any governmental or regulatory filings of Parent, the
Company or any of its Subsidiaries or disclosure or presentations to Parent’s equity holders or prospective equity holders; (vi) as required by applicable Law; or (vii) to the extent such information is otherwise publicly available.
Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof any Confidential Information that (A) has become publicly available through the actions of a Person other than the
Asset Manager, (B) is released in writing by CTT, Parent, the Company or any of its Subsidiaries to the public, or (C) is obtained by the Asset Manager from a third party without breach by such third party of an obligation of confidence
with respect to the Confidential Information disclosed. 

  
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 9. ASSET MANAGEMENT FEE. 

(a) Subject to Section 9(b), commencing upon the Effective Date, the Asset Manager shall receive from the
Company an asset management fee (the “Asset Management Fee”), calculated and payable quarterly in arrears, in an annual amount equal to (x) the Applicable Rate (as defined below) for the applicable period of time,
multiplied by (y) the Purchase Price, multiplied by (z) the Beginning Preferred Partner Ratio. In the event the Effective Date is a day other than the first calendar day of a Fiscal Quarter, the Asset Management Fee with
respect to the Fiscal Quarter in which the Effective Date occurs shall be an amount equal to the product of (x) the total Asset Management Fee otherwise payable for such Fiscal Quarter, multiplied by (y) a fraction, the numerator of which
is the number of calendar days between the Effective Date and the end of such Fiscal Quarter and the denominator of which is the total number of calendar days in such Fiscal Quarter. The “Applicable Rate” shall mean 1.00%;
provided, however, that if the entire Initial Preferred Distribution Account has not been reduced to zero ($0) in accordance with Section 3.3(d) of the Company LLC Agreement, the Applicable Rate shall (i) be reduced to 0.75% for the
four (4) consecutive Fiscal Quarters beginning with the first full Fiscal Quarter following the third (3rd) anniversary of the Effective Date, and (ii) be further reduced to 0.50% for all Fiscal Quarters after the fourth (4th) anniversary; provided, further, that to the extent that the Applicable Rate has been so reduced, and subsequent to such reduction the entire Initial Preferred Distribution Account is
reduced to zero ($0) in accordance with Section 3.3(d) of the Company LLC Agreement, then the Applicable Rate shall automatically increase back to 1.00% commencing with the day upon which such return threshold is achieved. The Asset Management
Fee, to the extent due and owing in accordance with this Agreement, the Parent LP Agreement and the Company LLC Agreement, shall be paid quarterly within forty-five (45) days following the end of the preceding Fiscal Quarter. 

(b) The payment of the Asset Management Fee shall be subject to deferral as set forth in the Parent LP Agreement and the Company LLC
Agreement. In addition, the Asset Management Fee shall be subject to reduction pursuant to the terms of Schedule 5.7 of the Parent LP Agreement. 

(c) Asset Manager acknowledges and agrees that the Company and its Subsidiaries will agree upon an allocation between each of them of
the Asset Management Fee based on the relative Services provided to each of them. 
 10. EXPENSES. 

(a) The Company or its Subsidiaries shall bear and pay (including pursuant to the terms of Section 7), the
following third-party fees, costs and expenses, whether incurred prior to or following the Effective Date (collectively, “Expenses”): 

(i) all costs and expenses incurred in connection with the formation of the Company and its Subsidiaries, and all expenses
associated with the issuance of the Subsidiary REIT Preferred Units, including any placement agent fees associated with such issuance; 

  
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 (ii) all fees, costs and expenses incurred in evaluating, negotiating,
structuring, acquiring, holding, managing, leasing, financing, refinancing, disposing of or otherwise dealing with the Property and other Business Assets, including any reasonable legal and accounting expenses and other fees and out-of-pocket costs related thereto, and the costs of rendering financial assistance to or arranging for financing for any assets or businesses constituting the Business
Assets (including the Property); 
 (iii) fees, costs and expenses of auditors, appraisers, legal counsel and other advisors
of the Company and its Subsidiaries, insurance costs of the Company and its Subsidiaries and litigation costs and indemnity expenses of the Company and its Subsidiaries; 

(iv) administrative expenses related to the operation of the Company and its Subsidiaries, including fees, costs and expenses
of accountants, lawyers and other professionals incurred in connection with the Company’s and its Subsidiaries’ annual audit, financial reporting, legal opinions and tax return preparation (including, without limitation, any costs and
expenses incurred in connection with the satisfaction of the requirements of Section 5 hereof), as well as expenses associated with valuations of the Property and other Business Assets, including the fees, costs and
expenses of any independent appraiser; 
 (v) interest expenses, brokerage commissions and other investment costs incurred by
or on behalf of the Company and its Subsidiaries; 
 (vi) the Asset Management Fee, subject to the restrictions and
limitations provided in the Parent LP Agreement and the Company LLC Agreement; 
 (vii) costs of travel and travel-related
expenses with respect to the business of the Company and its Subsidiaries; provided, that the cost of airfare shall not exceed commercial fares and, for the avoidance of doubt, shall not include costs associated with first-class, private or
chartered air travel; 
 (viii) subject to Section 10(c), all taxes and license fees levied against
the Company and its Subsidiaries or their assets or operations; 
 (ix) the costs of annual REIT compliance testing for the
Company, including fees and expenses of the Qualified REIT Consultant; 
 (x) insurance costs incurred in connection with the
operation of the business of the Company and its Subsidiaries; 
 (xi) the compensation of the employee identified on, and
subject to the limitations set forth, on Schedule C; and 
 (xii) amounts to be contributed or advanced to any
Subsidiary for the purpose of such entity paying any cost of the type described in the foregoing clauses (i) through (xi). 

  
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 (b) Notwithstanding anything herein to the contrary, the Asset Manager and its Affiliates
shall bear the costs and expenses incurred by such Persons in providing for their normal operating overhead, salaries (except as specifically provided in Section 10(a)(xi), wages or benefits of their employees, rent,
utilities, expenses of office furniture, computers and other office equipment, taxes (including taxes imposed on the income or gross receipts of the Asset Manager on account of fees received pursuant to the terms of this Agreement), other expenses
incurred in maintaining their place of business, and other similar administrative expenses (including all premiums and expense required in connection with “errors and omissions” insurance policies covering the officers and employees of the
Asset Manager or its Affiliates), neither Parent nor the Company nor any of its Subsidiaries shall pay such expenses, and Asset Manager shall not be entitled to reimbursement from Parent, the Company or its Subsidiaries for any such expenses 

(c) For the avoidance of doubt, Asset Manager shall not be reimbursed for any expenses under this Agreement. 

11. EXCULPATION AND INDEMNIFICATION. 

(a) The Asset Manager, its Affiliates and their respective Constituent Members, employees, managers, consultants and agents
(collectively, the “Manager Indemnified Parties”) will not be liable to Parent, the Company or any of their respective Subsidiaries, the Parent Board, the General Partner, the Company Board or the members, managers or partners of
Parent, the Company or any of their respective Subsidiaries for any acts or omissions by any Manager Indemnified Party, pursuant to or in accordance with this Agreement, except for any acts or omissions by any Manager Indemnified Party constituting
a Bad Act. 
 (b) To the fullest extent permitted by applicable Law, Company shall and does hereby agree to indemnify and hold
harmless and pay all judgments and claims against any Manager Indemnified Party, each of which shall be a third party beneficiary of this Agreement solely for purposes of this Section 11, from and against any Loss incurred
by them for any act or omission taken or suffered by each Manager Indemnified Party (including any act or omission performed or omitted by any of them in good faith reliance upon and in accordance with the opinion or advice of experts, including of
legal counsel as to matters of law, of accountants as to matters of accounting, or of investment bankers or appraisers as to matters of valuation; provided, that such Persons were selected and monitored with reasonable care) in connection
with in respect of or arising from any acts or omissions of such Manager Indemnified Party made in the performance of this Agreement, except that there shall be no indemnification for (i) any act or omission of a Manager Indemnified Party that
constitutes a Bad Act or (ii) any indemnification obligation of the Manager Indemnified Parties pursuant to Section 5.3(b)(iv) of the Parent LP Agreement or the Losses related thereto. 

(c) To the fullest extent permitted by applicable Law, Asset Manager shall and does hereby agree to indemnify and hold harmless and pay
all judgments and claims against Parent, the Company and its Subsidiaries and each of their respective Constituent Members, employees, managers, consultants and agents (collectively, the “Parent Indemnified Parties” and together
with the Manager Indemnified Parties, the “Indemnified Parties”), from and against any Loss incurred by them in respect of or arising from any acts or omissions by any Manager Indemnified Party pursuant to or in accordance with this
Agreement constituting a Bad Act. Each of the Parent 

  
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Indemnified Parties (excluding the Company) shall be a third party beneficiary of this Agreement solely for purposes of this Section 11. For the avoidance of doubt, for
purposes of this Section 11(c), any Loss in respect of or arising from an act by the Asset Manager in its capacity as a fiduciary under the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder shall not
constitute a Bad Act. 
 (d) The Indemnified Party will promptly notify the party against whom indemnity is claimed (the
“Indemnitor”) of any claim for which it seeks indemnification; provided, however, that the failure to so notify the Indemnitor will not relieve the Indemnitor from any liability which it may have hereunder, except to the
extent such failure actually prejudices the Indemnitor. The Indemnitor shall have the right to assume the defense and settlement of such claim; provided, that the Indemnitor notifies the Indemnified Party of its election to assume such
defense and settlement within thirty (30) days after the Indemnified Party gives the Indemnitor notice of the claim. In such case, the Indemnified Party will not settle or compromise such claim, and the Indemnitor will not be liable for any
such settlement made, without its prior written consent. If the Indemnitor is entitled to, and does, assume such defense by delivering the aforementioned notice to the Indemnified Party, the Indemnified Party will (i) have the right to
approve the Indemnitor’s counsel (which approval will not be unreasonably withheld, delayed or conditioned), (ii) be obligated to cooperate in furnishing evidence and testimony and in any other manner in which the Indemnitor may reasonably
request, and (iii) be entitled to participate in (but not control) the defense of any such action, with its own counsel and at its own expense. In addition, if the Indemnitor assumes such defense, the Indemnitor may settle any such claim
without the prior consent of the Indemnified Party if such settlement involves the full release of the Indemnified Party and does not impose any non-monetary remedies and conditions on the
Indemnified Party without the Indemnified Party’s prior written consent, which shall not be unreasonably withheld, delayed or conditioned. 

(e) Expenses reasonably incurred by an Indemnified Party in defense or settlement of any claim that may be subject to a right of
indemnification pursuant to Section 11(b) or Section 11(c) shall be advanced by the Indemnitor prior to the final disposition thereof upon receipt of an undertaking by or on behalf of such
Indemnified Party to repay such amount to the extent that it shall be determined upon final decision, judgment or order (whether or not subject to appeal) that such Indemnified Party is not entitled to be indemnified hereunder. 

(f) If a claim for indemnification or payment of reasonable expenses hereunder is not paid in full within twenty (20) days after a
written notice of claim therefor has been received by the Indemnitor, the claimant may file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expenses of prosecuting such claim.

 (g) The indemnification provided by this Section 11 shall be in addition to any other rights to which an
Indemnified Party may be entitled under any agreement, pursuant to any action of the Company, as a matter of Law or otherwise, and shall continue as to an Indemnified Party who has ceased to serve in such capacity. 

  
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 12. KEY MAN EVENT. 

(a) If the employment of any Key Man terminates other than due to death, Disability (as defined in the Key Man Employment Agreement) or
Cause (as defined in the Key Man Employment Agreement), a “Key Man Event” shall have occurred. For a period of one (1) year after the occurrence of any Key Man Event, Company Board and Asset Manager shall discuss, and Company
shall reasonably consider, potential replacements for the relevant Key Man. If, after such one (1) year period, no suitable replacement for such Key Man, as determined by the Company in its reasonable discretion (acting at the direction of a
majority of the Preferred Board Members), is agreed upon by the Asset Manager and Company (acting at the direction of a majority of the Preferred Board Members), then the Company (acting at the direction of a majority of the Preferred Board Members)
may, upon written notice to the Asset Manager, immediately terminate this Agreement. 
 (b) If the employment of any Key Man
terminates due to death, Disability (as defined in the Key Man Employment Agreement) or Cause (as defined in the Key Man Employment Agreement), then Asset Manager shall use commercially reasonable efforts to identify a suitable replacement for such
Key Man within a reasonable period of time thereafter. 
 13. TERM; TERMINATION. 

(a) The term of this Agreement shall commence on the date hereof and shall continue until terminated pursuant to
Section 12 or this Section 13. 
 (b) Notwithstanding anything herein to the
contrary, this Agreement shall automatically and immediately terminate, without the requirement for any further action by any Party, upon the earliest to occur of (i) the initiation of the dissolution and liquidation of the Parent pursuant to
Article 10 of the Parent LP Agreement or the Company pursuant to the Company LLC Agreement, (ii) the removal of the General Partner as the general partner of the Parent pursuant to Section 4.13 of the Parent LP Agreement or the voluntary
resignation of the General Partner (when such General Partner is an Affiliate of CTT Partner) in such capacity, (iii) the initiation of any sale process or the initiation of any other disposition of all or substantially all of the Property and
the other Real Estate Assets pursuant to Section 4.16 of the Parent LP Agreement; provided, that the Alternative Voting System is then in effect and a Person other than the General Partner was appointed to sell the Property and manage
all aspects of the sale process, or (iv) the date that is seven years after the date hereof. 
 (c) The Company, acting at the
direction of the Preferred Board Members and acting without consent or approval of any other members of the Company Board or any other Person, may terminate this Agreement immediately upon delivery of written notice of such termination to the Asset
Manager (i) in the event that any Change of Control occurs without the prior written consent of the Company Board and (ii) for Cause. 

(d) Subject to the terms of the “Budget Variance Cure Protocols” set forth on Exhibit B hereto, the Company, acting at
the direction of the Preferred Board Members, may terminate this Agreement immediately upon delivery of written notice to the Asset Manager in the event that a Fiscal Year’s actual results (as determined following the applicable year-end) with respect to a particular Line Item (as defined in Exhibit B) are outside the applicable Allowable Variance Limits (as defined in Exhibit B). 

  
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 14. PAYMENTS DUE UPON AND FOLLOWING TERMINATION. 

(a) Upon the termination of this Agreement pursuant to Section 13(b) or
Section 13(c), the Asset Manager shall not be entitled to any further compensation hereunder following the Termination Date; provided, however, that the Asset Manager shall be entitled to receive all accrued but
unpaid Asset Management Fees as of the Termination Date (including Deferred Asset Management Fees) to the extent that the Company has funds available for such repayment, unless such termination was consummated pursuant to clause (ii) of
Section 13(b). 
 (b) In the event the Termination Date falls on a day other than the last calendar day of a
Fiscal Quarter, the Asset Management Fee payable with respect to the Fiscal Quarter in which the Termination Date occurs shall be an amount equal to the product of (x) the total Asset Management Fee otherwise payable for such Fiscal Quarter,
multiplied by (y) a fraction, the numerator of which is the number of calendar days between the start of such Fiscal Quarter and the Termination Date and the denominator of which is the total number of calendar days in such Fiscal Quarter. 

15. SURVIVAL. Notwithstanding anything herein to the contrary, the terms of Section 8,
Section 10, Section 11, Section 14 and Section 16 shall survive the termination of this Agreement. 

16. MISCELLANEOUS. 

(a) Nothing in this Agreement shall be construed to make the Company or any of its Subsidiaries or any other Person, on the one hand,
and the Asset Manager, on the other hand, partners or joint venturers or impose any liability as such on either of them. 
 (b) This
Agreement, including all schedules and exhibits attached hereto, constitutes the entire agreement among the Parties pertaining to the subject matter hereof. This Agreement supersedes any prior agreement or understanding among the Parties with
respect to the subject matter hereof, but shall not amend, modify, supersede or in any way affect any other agreement or understanding among the Parties or their Affiliates that does not relate to the subject matter hereof. 

(c) This Agreement may be amended, supplemented or waived at any time and from time to time only by an instrument in writing signed by
each Party. 
 (d) This Agreement and all disputes or controversies arising out of or relating to this Agreement or the transactions
contemplated hereby shall be governed by, and construed in accordance with, the internal laws of the State of Delaware, without regard to the laws of any other jurisdiction that might be applied because of the conflicts of laws principles of the
State of Delaware. Each Party hereby irrevocably consents and agrees that any action, suit or proceeding with respect to this Agreement shall be brought and determined only in the exclusive jurisdiction of the Court of Chancery of the State of
Delaware, the courts of the United States of America for the District of Delaware, and appellate courts thereof, and each Party hereby consents to the 

  
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jurisdiction of the aforesaid courts for itself and with respect to its property, generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this
Agreement and the transactions contemplated hereby. Each Party further agrees that notice as provided herein shall constitute sufficient service of process and the Parties further waive any argument that such service is insufficient. Each Party
hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby,
(a) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (b) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process
commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c) that (i) the suit, action or proceeding in any such court is
brought in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. EACH PARTY, FOR ITSELF AND ON BEHALF OF ITS
AFFILIATES, HEREBY WAIVES ITS RIGHT TO TRIAL BY JURY IN ANY ACTION, LAWSUIT, OR PROCEEDING, WHETHER IN CONTRACT OR IN TORT, RELATING TO ANY DISPUTE ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION DESCRIBED IN THIS AGREEMENT OR
TO ANY DISPUTE BETWEEN THE PARTIES (INCLUDING DISPUTES WHICH ALSO INVOLVE OTHER PERSONS). 
 (e) This Agreement shall be binding upon
and inure to the benefit of the Parties and their permitted successors and assigns. 
 (f) The rights and obligations under this
Agreement may not be assigned or delegated (whether by operation of law, merger, consolidation or otherwise) by any Party without the prior written consent of the other Parties, and any attempted assignment without such prior written consent shall
be null and void and of no force or effect; provided, however, that the Asset Manager shall be entitled, without the consent of the other Parties hereto, to assign its right, title and interest in and to this Agreement to any lender or other
creditor as collateral security for indebtedness of the Asset Manager or its Affiliates to such lender or other creditor. The Parties hereto hereby consent and agree that such lender or other creditor has the right to assert and enforce any or all
of the rights of the Asset Manager collaterally assigned to such lender or creditor in accordance with the terms and provisions of the related indebtedness. The Parties hereto agree and acknowledge that none of such lender or other creditor shall be
deemed to have assumed any of the obligations or liabilities of the Asset Manager under this Agreement by reason of such collateral assignment. 

(g) Subject to Section 11, the provisions of this Agreement are for the sole and exclusive benefit of the
Parties and their permitted successors and assigns and shall not be deemed to create any rights for the benefit of any other Person except as specifically provided herein. 

(h) If any provision of this Agreement or the application of such provision to any Party or circumstance shall be held invalid or
unenforceable, the remainder of this Agreement or the application of that provision to another Party or circumstance shall not be affected thereby. 

  
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 (i) No waiver by a Party of any default, breach or violation of this Agreement shall be
deemed to be a waiver of any other default, breach or violation of any kind or nature, whether or not similar to the default, breach or violation that has been waived, and no failure to enforce a particular provision in one instance shall be deemed
a waiver or modification of rights or preclude the enforcement thereafter. No acceptance of payment or performance by a Party after any such default, breach or violation shall be deemed to be a waiver of any default, breach or violation of this
Agreement, whether or not such Party knows of such default, breach or violation at the time it accepts such payment or performance. Subject to any applicable statutes of limitation, no failure or delay on the part of a Party to exercise any right it
may have under this Agreement shall prevent its exercise by such Party, and no such failure or delay shall operate as a waiver of any default, breach or violation of this Agreement. 

(j) The captions and headings used in this Agreement are for convenience only and do not in any way affect, limit, amplify or modify the
terms and provisions hereof. 
 (k) This Agreement may be executed in several counterparts. If so executed, each of such counterparts
shall be deemed an original for all purposes and all counterparts shall, collectively, constitute one agreement. In making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart and photocopies
may be used. 
 (l) Notwithstanding anything herein to the contrary, this may not be amended or modified in a manner that is material
and adverse to the interests of the Senior Lender (or the other secured parties under the Senior Credit Documents) without the prior written approval of the Senior Lender. 

Remainder of page left intentionally blank; signature pages follow. 

  
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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their
representatives thereunto duly authorized effective as of the day and year first above written. 
  

					
	CREEK PINE REIT, LLC
	
	By: TEXMARK TIMBER TREASURY, L.P., its sole member
			
		 	By:	 	 /s/ John F. Rasor

		 	Name:	 	John F. Rasor
		 	Title:	 	President

 [Signature Page to Asset Management Agreement] 

 
			
	 CROWN PINE REALTY 1, INC.,
 a
Delaware corporation

		
	By:	 	 /s/ John F. Rasor

	Name:	 	John F. Rasor
	Title:	 	President

 [Signature Page to Asset Management Agreement] 

 
			
	CATCHMARK TRS CREEK MANAGEMENT, LLC
	
	By: CatchMark Timber TRS, Inc., its sole member
		
	By:	 	 /s/ Brian M. Davis

	Name:	 	 Brian M. Davis

	Title:	 	Senior Vice President and Chief Financial Officer

 [Signature Page to Asset Management Agreement] 

 Schedule A 

Key Man 
 1. Key Man: Jerry Barag 

2. Key Man Employment Agreement: Employment Agreement by and between CatchMark Timber Trust, Inc. and Jerry Barag 

 Schedule B-1 

Initial Annual Budget 

(See attached.) 

 Project Caddo 

Schedule B-1: Initial Annual Budget 
  

($‘s, except per acre data) 
 NOTE: BASIS OF
PRESENTATION IS ON A CASH BASIS 
 [***] 
  

  
 Portions of the exhibit, indicated
by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange
Act of 1934, as amended. 
 Schedule B-1 

 Schedule B-2 

Budget Development Protocol 
 • The
Asset Manager will produce an annual harvest schedule (“Annual Harvest Schedule”), taking into consideration (i) the Company’s obligations under the Wood Supply Agreements, (ii) Unlevered Cash Flow requirements,
(iii) the long-term value of the Property and (iv) Sustainable Forestry Initiative (SFI) obligations. 
 • The Preferred Partners, by a
majority vote of the Board Members designated by the Preferred Partners, may designate a Person to provide reasonable review and input regarding the following items during the preparation of the Annual Harvest Schedule: Linear Program (LP)
constraints, financial assumptions, silvicultural assumptions, and harvest volume in excess of or outside of Wood Supply Agreement obligations. The initial such designee shall be TTG Forestry Services, LLC. 

• Each Annual Harvest Schedule will include a thirty (30) year harvest schedule (“Thirty-Year Harvest Schedule”) and a rolling
three (3) year harvest plan (“Three-Year Harvest Plan”). A written summary of each Annual Harvest Schedule will be made available to the Company Board, including all assumptions, constraints utilized, and supporting stand level
information as may be necessary for a reasonable evaluation of the Thirty-Year Harvest Schedule and the Three-Year Harvest Plan. In addition, annual property profiles including merchantable timber volumes,
pre-merchantable acres by species and age class, and acres by land class shall be provided. 
 • To the extent
necessary to facilitate the Company Board’s review of the proposed Annual Budget, the Asset Manager will also (i) provide the Company Board information regarding tract and stand-level activity for the Property and applicable other Real
Estate Assets (including, for example, site preparation and treatment, planting method, stock type, planting density, thinning plan, volume removals by product class, and detailed inventory information) and (ii) furnish the Company Board a copy
of the then current Geographic Information Systems (GIS) data for the Property and applicable other Real Estate Assets. 
 • The Asset Manager will
seek, based on the Three-Year Harvest Plan, to develop a preliminary version of the Annual Budget (“Preliminary Budget”) and present such Preliminary Budget to the Company Board no later than September 10th of each calendar year for
review and consideration. 
 • The Company Board will provide any comments and feedback regarding the Preliminary Budget no later than September 25th
of each calendar year. 
 • Based on the Preliminary Budget timber volumes (as the same reflects the comments and feedback of the Board) the Asset
Manager will provide the “Annual Plan” and “Forecast Plan” volumes to the respective counterparties to the Wood Supply Agreements, as required, on or before September 30th of each calendar year. 

 • The proposed Annual Budget submitted to the Company Board for final approval pursuant to
Section 3 of this Agreement will reflect any changes required by the counterparties to the Wood Supply Agreements after review of the Annual Plan volumes. 

• The Annual Budget will include the terms pertaining to any Permitted HBU Sale to be conducted during the applicable Fiscal Year, including (i) a
general description of the Property and other Real Estate Assets to be sold, (ii) the minimum price and (iii) any permissible non-standard commercial terms.  

 Schedule B-3 

Pre-Funded Reserves 

(See attached.) 

 Project Caddo 

Schedule B-3: Pre-Funded Reserves 
  

($‘s, except per acre data) 
 NOTE: BASIS OF
PRESENTATION IS ON A CASH BASIS 
 [***] 
  

  
 Portions of the exhibit, indicated
by the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange
Act of 1934, as amended. 
 Schedule B-3 

 Schedule B-4 

Operating Metrics 
 1. Recordable incident
rate 
 2. Conformity with certification requirements provided by Sustainable Forestry Initiative Inc. 

3. Development of managerial talent 
 4. Litigation risk 

5. Compliance with applicable environmental statutes and regulations 

6. Technology and information systems infrastructure 

 Schedule C 

Employees 
  

	1.	John Rasor, in the amount of up to $[***] annually, but only to the extent he is performing the Services. The Parties acknowledge and agree that this amount shall be considered by the Company as an expense within the
“Forestry Management” line item of the applicable Annual Budget. 

 Portions of the exhibit, indicated by the mark
“[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934,
as amended. 

 Exhibit A 

Allowable Variances 
  

					
	 Item
	  	Minimum	  	Maximum
	 Plantation Clearcut Acres
	  	[***]	  	[***]

	 Total GP/IP WSA Volume
	  	[***]	  	[***]
	 Weighted Age of Plantation Clearcuts
	  	[***]	  	[***]
	 Hardwood Release
	  	[***]	  	[***]
	 Mid Rotation Fertilization
	  	[***]	  	[***]
	 Road Maintenance
	  	[***]	  	[***]
	 Site Prep + Plant + Seedlings + Herbaceous Weed Control
	  	[***]	  	[***]
	 Fertilization at Establishment
	  	[***]
	  	[***]
	 Capital Infrastructure Expenses, including bridges, culverts and road construction
	  	[***]	  	[***]

 Exhibit B 

Budget Variance Cure Protocols 
  

	1.	If the actual results for a Fiscal Year (as determined following the applicable year-end) reflect a variance (measured against the applicable Annual Budget) (a “Budget
Variance”) above or below the “Minimum” or “Maximum” values set forth on Exhibit C hereto (the “Allowable Variance Limits”) with respect to any of the line items set forth on
Exhibit C (each, a “Line Item”), then the Asset Manager will, simultaneously with the delivery of the results of such Fiscal Year, provide the Company Board with a written notice (a “Budget Variance Notice”)
setting forth in reasonable detail: 

  

	 	(i)	a description of such Line Item and the amount of the Budget Variance; 

  

	 	(ii)	the underlying causes of the Budget Variance, including (A) a Force Majeure Event (as defined below), (B) market issues, (C) regulatory or environmental compliance, (D) SFI compliance, or (E) such
other causes as the Asset Manager identifies (each, a “Notice Event”); and 

  

	 	(iii)	if the Budget Variance is due to a Force Majeure Event, recommendations for reducing or eliminating the amount of the anticipated Budget Variance and the appropriate cure period (not to exceed the applicable cure period
set forth opposite such Line Item on Exhibit C hereto) (each, a “Proposed Variance Cure”), including (A) a description of the actions required to implement each Proposed Variance Cure, (B) the financial implications
of each Proposed Variance Cure, (C) an estimated timeline to implement each Proposed Variance Cure, and (D) the Asset Manager’s preferred Proposed Variance Cure. 

As used above, “Force Majeure Event” means any (i) any Change Event (as defined in the applicable Wood Supply Agreement)
under a Wood Supply Agreement or (ii) the occurrence of a Force Majeure (as defined in the applicable Wood Supply Agreement) under a Wood Supply Agreement. 
  

	2.	If the Notice Event identified in the Budget Variance Notice is a Force Majeure Event (in which case such Budget Variance Notice is referred to herein as a “Force Majeure Budget Variance Notice”), then,
subject to the remaining provisions of this Exhibit B, the Company Board may not immediately terminate this Agreement pursuant to Section 13(d) with respect to the Line Item identified in such Force Majeure Budget Variance Notice. If,
however, the Notice Event identified in the Budget Variance Notice is not a Force Majeure Event, then the Company Board shall have the right to immediately terminate this Agreement pursuant to Section 13(d). 

 

	3.	Upon delivery of a Force Majeure Budget Variance Notice, the Company Board and the Asset Manager will work together in good faith for a period of 45 days to approve a Proposed Variance Cure, either as originally
presented in the Force Majeure Budget Variance Notice or subject to such modifications as the Company Board and the Asset Manager mutually agree upon. 

  
 B-1 

	4.	If a Proposed Variance Cure is agreed within the 45-day period set forth in paragraph 3 above (an “Agreed Variance Cure”), then the Asset Manager shall implement
such Agreed Variance Cure within the applicable cure period. If the Asset Manager fails to implement the Agreed Variance Cure within the applicable cure period, then the Company Board shall have the right to immediately terminate this Agreement in
accordance with Section 13(d). 

  

	5.	If a Proposed Variance Cure is not agreed within the 45-day period set forth in paragraph 3 above, then the Asset Manager will in good faith implement the Proposed Variance Cure
that the Company Board determines is in the best interests of the Company, taking into account long-term asset value (the “Company-Determined Variance Cure”). The Company Board shall have the right to immediately terminate this
Agreement if the Asset Manager fails to implement a Company-Determined Variance Cure within the applicable cure period. 

  

	6.	Notwithstanding anything to the contrary contained herein, (i) all actions of the Company Board hereunder shall be taken as a Major Decision, and (ii) with respect to any of the Line Items under the heading
“Seasonal Events” on Exhibit C hereto, if the Asset Manager fails to implement the Annual Budget within the parameters set forth in the applicable Annual Variance Limits for a period of two (2) consecutive Fiscal Years
(a “Two Year Seasonal Line Item Implementation Failure”), then the Company Board shall have the right to immediately terminate this Agreement pursuant to Section 13(d) (notwithstanding any Budget Variance Notices); provided,
however, that if in each of such two (2) consecutive Fiscal Years, (x) a named hurricane or tropical storm (in each case, affecting at least 10% of the total acres of the Parent and its Subsidiaries by acreage) or (y) disease,
insect infestation, wind, ice or fire (in each case, affecting at least 5,000 acres of harvest units in the current 3-year harvest plan of the Company) has occurred, and the Asset Manager has delivered Budget
Variance Notices that identify such events as the Notice Events, then the Company Board shall not have the right to terminate this Agreement with respect to such Two Year Seasonal Line Item Implementation Failure. 

 

	7.	Notwithstanding anything to the contrary contained herein, if, during a Fiscal Year, the Asset Manager in good faith determines that it is reasonably likely that a Budget Variance will exist with respect to a Line Item,
then the Asset Manager may provide the Company Board with a written notice setting forth, in reasonable detail (1) a description of such Line Item, (2) an estimate of the amount of the anticipated Budget Variance, and (3) a
description of the underlying Notice Event (an “Expected Variance”), and the Company Board may, as a Major Decision, approve or disapprove such Expected Variance. If the Company Board approves an Expected Variance, then,
notwithstanding anything to the contrary contained herein, the Company Board’s right to terminate this Agreement pursuant to Section 13(d) shall be waived to the extent of such Expected Variance with respect to such Fiscal Year.

 All capitalized terms used and not otherwise defined herein shall have the meanings given to them in the Agreement. 

  
 B-2 

 Exhibit C 

Variance Termination Triggers 
  

							
	 Non-Seasonal
Events
	  	Minimum	 	Maximum	 	 Cure Period for Force Majeure Event

	 Hardwood Release + mid rotation fertilization
	  	[***]	 	[***]	 	 365 days from end of Fiscal Year

	 Road Maintenance
	  	[***]	 	[***]	 	 180 days from end of Fiscal Year

	 Capital Infrastructure (incl. bridges, culverts, road construction)
	  	[***]	 	[***]	 	 180 days from end of Fiscal Year

	Seasonal events	  	 	 	 	 	 
	 Total GP/IP WSA
	  	[***]	 	[***]	 	 No cure if outside variance for 2 successive years

	 Plantation Clearcut Acres
	  	[***]	 	[***]	 	 No cure if outside variance for 2 successive years

	 Weighted Age of plantation Clearcuts
	  	[***]	 	[***]	 	 No cure if outside variance for 2 successive years

	 Site Prep + Plant + Seedlings + Herbaceous Weed Control
	  	[***]	 	[***]	 	 No cure if outside variance for 2 successive years

	 Fertilization at Establishment
	  	[***]	 	[***]	 	 No cure if outside variance for 2 successive years

  

	(1)	Notwithstanding anything herein to the contrary, variances attributable to Non-Controllable Expenses (as defined in the Parent LP Agreement) shall not be counted towards
determining whether there is a variance above or below the Annual Budget. 

	(2)	Measured on an annual basis based upon the applicable annual financial and operational information presented by the Asset Manager to the Company Board within forty-five (45) days of the end of each Fiscal Year.

	(3)	Cure period for the Line Items under the heading “Seasonal Events” to be agreed-upon by the Company Board and the Asset Manager in accordance with clause (c) of Exhibit B; provided, that if
the cure period cannot be timely agreed upon, then the cure period shall be as set forth above. 

 Portions of the exhibit, indicated by
the mark “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act
of 1934, as amended.axgn_Ex10_1

		

			EXHIBIT 10.1

		

		

			 

		

		
			AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY
		

		
			913 Industrial Park Drive, Vandalia, Ohio
		

		
			THIS AGREEMENT (“Agreement”) is made and entered into as of the Effective Date (as defined herein) by and between ARC CRVANOH001, LLC, a Delaware limited liability company (“Seller”), and AXOGEN CORPORATION, a Delaware corporation (“Buyer”).
		

		
			In consideration of the mutual promises set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:
		

		
			1.         Terms and Definitions.  The terms listed below shall have the respective meaning given them as set forth adjacent to each term.
		

		
			(a)        “Broker” shall mean collectively Mark Dlott of Cushman & Wakefield, acting as Seller’s agent, and Rebecca Smith and Matt Arnovitz of CBRE, acting as Buyer’s agent.
		

		
			(b)        “Closing” shall mean the consummation of the transaction contemplated herein, which shall occur on the date that is sixty (60) days after the last day of the Due Diligence Period (as defined herein) unless the Buyer waives the full Due Diligence Period and Buyer and Seller mutually agree to close earlier.  The date of Closing is sometimes hereinafter referred to as the “Closing Date.”  Neither party will need to be present at Closing, it being anticipated that the parties will deliver all Closing Documents (as defined herein) in escrow to the Escrow Agent prior to the date of Closing.
		

		
			(c)        “Due Diligence Period” shall mean the period beginning upon the Effective Date and extending until 11:59 PM ET on the date that is thirty (30) days thereafter or the earlier date on which Seller receives written notice of Buyer’s waiver of the Due Diligence Period.
		

		
			(d)        “Earnest Money” shall mean ONE HUNDRED FIFTY THOUSAND and 00/100 DOLLARS ($150,000.00). The Earnest Money shall be deposited by Buyer in escrow with Escrow Agent (as defined herein) within three (3) business days after the Effective Date, to be applied as part payment of the Purchase Price (as defined herein) at the time the sale is closed, or disbursed as agreed upon in accordance with the terms of this Agreement.
		

		
			(e)        “Effective Date”  shall mean the date of execution and delivery of this Agreement by both Seller and Buyer.
		

		
			(f)        “Escrow Agent” shall mean Chicago Title Insurance Company, whose address is Suite 1325, 1515 Market Street, Philadelphia, PA 19102-1930, Attention:  Edwin G. Ditlow, Telephone: 215-875-4184; Telecopy: 215-732-1203; E-mail: ditlowE@ctt.com.  The parties agree that the Escrow Agent shall be responsible for (x) organizing the issuance of the Commitment and title policy, (y) preparation of the closing statement, and (z) collection of the Closing Documents and collection and disbursement of the funds.
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			 
		

		
			(g)        “Lease”  shall mean that certain Warehouse and Manufacturing Lease, dated September 16, 2009, as amended, by and between Harbor Investments III, LLC, Seller’s predecessor in interest, as landlord, and Veolia Water Technologies, Inc., as tenant (the “Tenant”).
		

		
			(h)        “Lease Termination Agreement”  means that Lease Termination Agreement, to be entered into by and between Seller and Tenant, that effectuates the termination of the Lease to occur immediately prior to, and be wholly contingent upon, the Closing hereunder.
		

		
			(i)         “Non-Refundable Deposit”  shall mean FIFTY THOUSAND and 00/100 DOLLARS ($50,000.00). The Non-Refundable Deposit shall be deposited by Buyer in escrow with Escrow Agent within three (3) business days after the Effective Date.  Following the expiration of the Due Diligence Period, the Non-Refundable Deposit shall be part of the Earnest Money to be applied as part payment of the Purchase Price at the time the sale is closed, or disbursed as agreed upon in accordance with the terms of this Agreement.
		

		
			(j)         “Property” shall mean (i) that certain real property located at 913 Industrial Park Drive, Vandalia, Ohio, being more particularly described on Exhibit A attached hereto and incorporated herein (the “Real Property”) together with the buildings, facilities and other improvements located thereon (collectively, the “Improvements”); (ii) all right, title and interest of Seller in and to all air and subsurface rights appurtenant to the Real Property; (iii) all right, title and interest of Seller in and to the machinery, lighting, electrical, mechanical, plumbing and heating, ventilation, air conditioning systems and furniture used in connection with the Real Property and the Improvements, and all carpeting, draperies, appliances and other fixtures and equipment attached or appurtenant to the Real Property together with all tangible and intangible personal property owned by Seller and located on the Real Property or on and/or in the Improvements (collectively, the “Personal Property”), excluding only furniture and other personal property of Tenant (collectively, the “Tenant’s Personal Property”); (iv) all right, title and interest of Seller to any unpaid award, if any, for (1) any taking or condemnation of the Property or any portion thereof, or (2) any damage to the Property or the Improvements or any portion thereof; (v) all easements, licenses, rights and appurtenances relating to any of the foregoing; and (vi) all right, title and interest of Seller in and to all plans, site plans, surveys and specifications, architectural drawings, building permits and other permits issued in connection with the construction, operation, use or occupancy of the Improvements, and any warranties, tradenames, logos (including any federal or state trademark or tradename registrations), or other identifying name or mark now used in connection with the Real Property and/or the Improvements.
		

		
			(k)        “Purchase Price”  shall mean FIVE MILLION and NO/100 DOLLARS ($5,000,000.00).
		

		
			(l)         Seller and Buyer’s Notice address
		

		
			(i)         “Buyer’s Notice Address” shall be as follows, except as same may be changed pursuant to the Notice section herein:
		

		
			AxoGen Corporation
		

		
			13631 Progress Boulevard, Suite 400
		

		
			
		

		
			

		 

		

			2

		

 

		

			 

		

		

		
			 
		

		
			Alachua, Florida  32615
		

		
			Attn:   John Glueck, Assistant General Counsel
		

		
			Tel. No.:  (352) 317-6885
		

		
			E-mail:  jglueck@axogeninc.com
		

		
			(ii)       “Seller’s Notice Address” shall be as follows, except as same may be changed pursuant to the Notice section herein:
		

		
			ARC CRVANOH001, LLC
		

		
			c/o AR Global Investments, LLC
		

		
			405 Park Avenue, 4th Floor
		

		
			New York, New York 10022
		

		
			Attn:  Michael Anderson
		

		
			Tel. No.:  (212) 415-6500
		

		
			E-mail:  manderson@ar-global.com
		

		
			 
		

		
			With a copy to:
		

		
			 
		

		
			Ryan Reimers
		

		
			AR Global Investments, LLC
		

		
			7621 Little Avenue, Suite 200
		

		
			Charlotte, North Carolina 28226
		

		
			Tel. No.: (704) 626-4403
		

		
			Email: rreimers@ar-global.com
		

		
			 
		

		
			2.         Purchase and Sale of the Property.  Subject to the terms of this Agreement, Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, the Property for the Purchase Price.
		

		
			3.         Payment of Purchase Price.  The Purchase Price to be paid by Buyer to Seller shall be paid by wire transfer of immediately available funds in the amount of the Purchase Price plus or minus prorations, credits and adjustments as provided in Section 4 and elsewhere in this Agreement to Escrow Agent, at the time of Closing, or as otherwise agreed to between Buyer and Seller.
		

		
			4.         Proration of Expenses and Payment of Costs and Recording Fees.
		

		
			(a)        At Closing, Seller and Buyer shall adjust for real estate taxes and assessments (both general and special), municipal water and sewer charges, fuel and utility charges, such adjustments to be calculated as of 11:59 PM on the day immediately preceding the Closing.  The real estate tax adjustment shall be based on the so called “Montgomery County Short Method.”  Prior to the Closing, Seller shall have paid or made binding arrangements to pay all service providers under service and maintenance contracts for the Property to which Seller is a party, if any, for services rendered up to the day prior to the Closing.
		

		
			(b)        Seller shall pay or be charged with the following costs and expenses in connection with this transaction:
		

		
			
		

		
			

		 

		

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			(i)         Broker’s commission payments (for sales commissions earned), in accordance with Section 23 of this Agreement;
		

		
			(ii)        Title policy premiums for any endorsements issued in connection with such policies that Seller elects to purchase to cover title issues, if any; and
		

		
			(iii)       Any costs incurred in connection with the release of existing debt, including, but not limited to, prepayment penalty fees and recording fees for documents providing for the release of the Property from existing debt.
		

		
			(c)        Buyer shall pay or be charged with the following costs and expenses in connection with this transaction:
		

		
			 
		

		
			(i)         100% of all title policy premiums, including search costs and any endorsements issued in connection with such policies other than endorsements that Seller elects to purchase to cover title issues, if any;
		

		
			(ii)        Transfer taxes and conveyance fees on the sale and transfer of the Property, including fees to record the Deed (as defined herein) for the Property;
		

		
			(iii)       All costs and expenses in connection with Buyer’s financing, including appraisal, points, commitment fees and the like and costs for the filing of all documents necessary to complete such financing and related documentary stamp tax and intangibles tax; and
		

		
			(iv)       Buyer shall pay for the cost of its own survey, Phase 1 environmental study and due diligence investigations.
		

		
			(d)        Each party shall pay its own legal fees incidental to the negotiation, execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.
		

		
			(e)        Seller and Buyer each shall pay one-half of all reasonable escrow fees charged by Escrow Agent.
		

		
			5.         Title.  At Closing, Seller agrees to convey to Buyer fee simple marketable title to the Property by limited warranty deed, free and clear of all tenancies, leases, liens, defects of title, conditions, easements, assessments, restrictions, and encumbrances except for Permitted Exceptions (as hereinafter defined).
		

		
			6.         Examination of Property.  Seller and Buyer hereby agree as follows:
		

		
			(a)        Seller has ordered a title insurance commitment (and copies of all title exception documents referenced therein) (the “Title Commitment”) from Escrow Agent for the Property.  At Buyer’s option, Buyer may order a new or updated survey for the Property (the “Survey”) promptly after the date hereof.  No later than the expiration of the Due Diligence Period, Buyer may object to any matters shown in the Title Commitment or Survey (“Title Matters”) that are unacceptable to Buyer by delivering written notice thereof to Seller (“Objections”).   Any Title Matters for which Buyer fails to make an Objection prior to the expiration of the Due Diligence Period shall be deemed “Permitted Exceptions”.  However, Permitted Exceptions shall not
		

		
			
		

		
			

		 

		

			4

		

 

		

			 

		

		

		
			 
		

		
			include any mechanic’s lien or other monetary lien encumbering the fee interest of Seller in the Property, or any deeds of trust, mortgage, or other loan documents secured by the Property (collectively, “Liens”).  Buyer shall not be required to make an Objection as to the Liens, and Seller shall be required to remove all Liens (by payment, bond deposit or indemnity acceptable to Escrow Agent) prior to Closing.  Seller shall have no obligation to cure any Objections, except as aforesaid, provided Seller notifies Buyer of any Objections which Seller elects not to remove or cure within five (5) business days following receipt of Buyer’s Objections and if no such notice is given, it will be deemed that Seller has elected not to remove or cure such Objection.  In the event that Seller refuses (or is deemed to have refused) to remove or cure any Objections, Buyer shall have the right to terminate this Agreement upon written notice to Seller given within five (5) business days after receipt (or deemed receipt) of Seller’s notice, upon which termination the Earnest Money shall be returned to Buyer and neither party shall have any further obligation hereunder, except as otherwise expressly set forth herein.  If no such notice is given by Buyer within such five (5) business day period, then Buyer’s right of termination will be deemed waived and such Objections will be deemed Permitted Exceptions.  If any matter not revealed in the Title Commitment is discovered by Buyer or by the Escrow Agent and is added to the Title Commitment by the Escrow Agent at or prior to Closing, Buyer shall have until the earlier of (i) ten (10) days after the Buyer’s receipt of the updated, revised Title Commitment showing the new title exception, together with a legible copy of any such new matter, or (ii) the date of Closing, to provide Seller with written notice of an Objection to any such new title exception.  Seller shall have two (2) business days after receipt of Buyer’s new Objection to notify Buyer as to whether Seller elects to remove or cure such new Objection, and, if necessary, the Closing shall be delayed until the date that is five (5) days after Seller delivers such notification to Buyer.  If Seller does not elect to remove or cure such new Objection (or fails to respond within the two (2) business day period), or if Seller elects to remove or cure such new Objection and Seller fails to remove or cure same prior to the date of Closing (which may be delayed as set forth above), Buyer may terminate this Agreement, in which case the Earnest Money shall be returned to Buyer and neither party shall have any further obligation hereunder, except as otherwise expressly set forth herein.
		

		
			(b)        Within five (5) days following the Effective Date, Seller shall provide to Buyer copies of the following documents and materials pertaining to the Property to the extent within Seller’s possession or reasonably obtainable by Seller: (i) a final copy of all surveys and site plans of the Property, including, without limitation, any as-built surveys obtained or delivered to Tenant in connection with any construction at the Property; (ii) a copy of all architectural plans and specifications and construction drawings and contracts for Improvements located on the Property; (iii) a copy of Seller’s title insurance policy relating to the Property (and copies of the title documents referenced therein); (iv) a copy of the zoning report for the Property and any government permits or approvals; (v) a copy of all environmental reports for the Property, including any Phase I environmental site assessments and Phase II environmental site assessments for the Property; and (vi) a copy of the roof warranty for the building on the Property (the “Due Diligence Materials”).  Seller agrees to request from Tenant, and upon receipt shall promptly deliver to Buyer, copies of any service contracts for the operation and maintenance of the Property and the most recent real estate tax statements and utility bills for the Property.  Additionally, during the term of this Agreement, Buyer, its agents, contractors and designees (collectively “Buyer’s Representatives”), shall have the right to enter the Property for the purposes of inspecting the Property, conducting soil tests, and making surveys, mechanical and structural engineering studies, inspecting construction, and conducting any other investigations and inspections as Buyer may
		

		
			
		

		
			

		 

		

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			reasonably require to assess the condition and suitability of the Property, including, without limitation, an environmental Phase I examination. Buyer shall indemnify and hold Seller harmless from and against any and all claims or damages asserted against Seller or Tenant to the extent resulting from the activities of Buyer on the Property, and Buyer shall repair any and all damage caused, in whole or in part, by Buyer and return the Property to its condition prior to such damage, which obligation shall survive Closing or any termination of this Agreement.  The foregoing indemnity shall not include any claims or damages that result from (i) the mere discovery by Buyer or Buyer’s Representatives of any violations of law or pre-existing conditions on the Property during Buyer’s investigations conducted pursuant to, and in accordance with, the terms of this Agreement, or (ii) the negligence of Seller or any of Seller’s representatives.  Seller shall reasonably cooperate with the efforts of Buyer and Buyer’s Representatives to inspect the Property and the Improvements.  Notwithstanding the foregoing, Buyer shall not have the right to conduct an environmental Phase II examination without the express prior written consent of Seller.  During the time period in which Buyer or Buyer’s Representatives are accessing the Property, Buyer shall maintain or shall cause Buyer’s Representatives to maintain a policy of comprehensive general public liability insurance with a combined single limit of not less than $1,000,000 per occurrence for bodily injury and property damage, insuring Buyer and Seller, as additional insureds, against any injuries or damages to persons or property that may result from or are related to Buyer's or Buyer’s Representative’s entry upon the Property and any investigations or other activities conducted thereon.  Prior to the first entry on the Property, Buyer shall deliver, or shall cause Buyer’s Representatives to deliver, certificates of insurance to Seller confirming compliance with the foregoing insurance requirements.  Upon signing this Agreement, Seller shall provide Buyer with the name of a contact person(s) for the purpose of arranging site visits.  Buyer shall give Seller reasonable written notice (which in any event shall not be less than one (1) business day) before entering the Property, and Seller may have a representative present during any and all examinations, inspections and/or studies on the Property.  Buyer shall have the unconditional right, for any reason or no reason, to terminate this Agreement by giving written notice thereof to Seller and the Escrow Agent prior to the expiration of the Due Diligence Period, in which event this Agreement shall become null and void, Buyer shall receive a refund of the Earnest Money, Seller shall receive the Non-Refundable Deposit, and all rights, liabilities and obligations of the parties under this Agreement shall expire, except as otherwise expressly set forth herein. Notwithstanding the foregoing, in the event Buyer terminates this Agreement prior to the expiration of the Due Diligence Period on the grounds that Buyer’s Phase I environmental site assessment reflects a recognized environmental condition (“REC”) on the Property, Buyer shall receive a refund of the Non-Refundable Deposit in addition to the Earnest Money.
		

		
			(c)        Seller shall use good faith efforts to obtain estoppel certificates with respect to reciprocal easement agreements as may be reasonably requested by Buyer.
		

		
			7.         Risk of Loss/Condemnation.  Upon an occurrence of a casualty, condemnation or taking, Seller shall notify Buyer in writing of same.  Until Closing, the risk of loss or damage to the Property, except as otherwise expressly provided herein, shall be borne by Seller.  In the event all or any portion of the Property is damaged in any casualty or condemned or taken (or notice of any condemnation or taking is issued) so that (a) with respect to any casualty, if the cost to repair such casualty would exceed $250,000, or (b) with respect to any condemnation, any Improvements (including any parking lots located on the Property) or access to the Property or more than ten percent (10%) of the Property is (or will be) condemned or taken, then, Buyer may elect to
		

		
			
		

		
			

		 

		

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			terminate this Agreement by providing written notice of such termination to Seller within ten (10) business days after Buyer’s receipt of notice of such condemnation, taking or damage, upon which termination the Earnest Money shall be returned to the Buyer and neither party hereto shall have any further rights, obligations or liabilities under this Agreement, except as otherwise expressly set forth herein.  With respect to any condemnation or taking (or any notice thereof), if Buyer does not elect to terminate this Agreement as aforesaid, there shall be no abatement of the Purchase Price and Seller shall assign to Buyer at the Closing the rights of Seller to the awards, if any, for the condemnation or taking, and Buyer shall be entitled to receive and keep all such awards.  With respect to a casualty, if Buyer does not elect to terminate this Agreement or does not have the right to terminate this Agreement as aforesaid, there shall be no abatement of the Purchase Price and Seller shall assign to Buyer at the Closing the rights of Seller to the proceeds under Seller’s insurance policies covering the Property with respect to such damage or destruction (or pay to Buyer any such proceeds received prior to Closing), together with all of Seller’s right to fully adjust and settle the insurance claim, and pay to Buyer the amount of any deductible with respect thereto, and Buyer shall be entitled to receive and keep any monies received from such insurance policies.
		

		
			8.         Earnest Money Disbursement.  The Earnest Money and the Non-Refundable Deposit shall be held by Escrow Agent, in trust, and disposed of only in accordance with the following provisions:
		

		
			(a)        If the Closing occurs, Escrow Agent shall deliver the Earnest Money to Seller and shall be applied as part payment of the Purchase Price.  If for any reason the Closing does not occur, Escrow Agent shall deliver the Earnest Money to Seller or Buyer only upon receipt of a written demand therefor from such party, subject to the following provisions of this clause (a).  Subject to the last sentence of this clause (a), if for any reason the Closing does not occur and either party makes a written demand (the “Demand”) upon Escrow Agent for payment of the Earnest Money, Escrow Agent shall give written notice to the other party of the Demand within one (1) business day after receipt of the Demand.  If Escrow Agent does not receive a written objection from the other party to the proposed payment within five (5) business days after the giving of such notice by Escrow Agent, Escrow Agent is hereby authorized to make the payment set forth in the Demand.  If Escrow Agent does receive such written objection within such period, Escrow Agent shall continue to hold such amount until otherwise directed by written instructions signed by Seller and Buyer or a final judgment of a court.  Notwithstanding the foregoing provisions of this clause (a) if Buyer delivers a notice to Escrow Agent and Seller stating that Buyer has terminated this Agreement on or prior to the expiration of the Due Diligence Period, then Escrow Agent shall immediately (i) return the Earnest Money to Buyer without the necessity of delivering any notice to, or receiving any notice from Seller, and (ii) deliver the Non-Refundable Deposit to Seller without the necessity of delivering any notice to, or receiving any notice from Buyer, unless Buyer terminates this Agreement (x) due to a REC discovered by Buyer or Buyer’s environmental consultant during the Due Diligence Period or (y) in the event that Buyer is ready, willing and able to close in accordance with the terms and provisions hereof, and Closing fails to take place due to Seller’s default (including failure to obtain the Lease Termination Agreement or a breach of Seller’s representations and warranties), in which in either of the foregoing cases the Non-Refundable Deposit shall be refunded to Buyer.
		

		
			
		

		
			

		 

		

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			(b)        The parties acknowledge that Escrow Agent is acting solely as a stakeholder at their request and for their convenience, that Escrow Agent shall not be deemed to be the agent of either of the parties, and that Escrow Agent shall not be liable to either of the parties for any action or omission on its part taken or made in good faith, and not in disregard of this Agreement, but shall be liable for its negligent acts and for any liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred by Seller or Buyer resulting from Escrow Agent’s mistake of law respecting Escrow Agent’s scope or nature of its duties.  Seller and Buyer shall jointly and severally indemnify and hold Escrow Agent harmless from and against all liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred in connection with the performance of Escrow Agent’s duties hereunder, except with respect to actions or omissions taken or made by Escrow Agent in bad faith, in disregard of this Agreement or involving negligence on the part of Escrow Agent.  Escrow Agent has executed this Agreement in the place indicated on the signature page hereof in order to confirm that Escrow Agent shall hold the Earnest Money and Non-Refundable Deposit in escrow and shall disburse the Earnest Money and Non-Refundable Deposit pursuant to the provisions of this Section 8.
		

		
			9.         Default
		

		
			(a)        In the event that Seller is ready, willing and able to close in accordance with the terms and provisions hereof, and Buyer defaults in any of its obligations undertaken in this Agreement, Seller shall be entitled to, as its sole and exclusive remedy to either:  (i) waive such default and proceed to Closing in accordance with the terms and provisions hereof; or (ii) declare this Agreement to be terminated, and Seller shall be entitled to immediately receive all of the Earnest Money as liquidated damages as and for Seller’s sole remedy.  Upon such termination, neither Buyer nor Seller shall have any further rights, obligations or liabilities hereunder, except as otherwise expressly provided herein.  Seller and Buyer agree that (x) actual damages due to Buyer’s default hereunder would be difficult and inconvenient to ascertain and that such amount is not a penalty and is fair and reasonable in light of all relevant circumstances, (y) the amount specified as liquidated damages is not disproportionate to the damages that would be suffered and the costs that would be incurred by Seller as a result of having withdrawn the Property from the market, and (z) Buyer desires to limit its liability under this Agreement to the amount of the Earnest Money paid in the event Buyer fails to complete Closing.  Seller hereby waives any right to recover the balance of the Purchase Price, or any part thereof, and the right to pursue any other remedy permitted at law or in equity against Buyer.  Nothing contained herein shall limit or restrict Seller's ability to pursue any rights or remedies it may have against Buyer with respect to those obligations that expressly survive the termination of this Agreement as provided herein.  In no event under this Section or otherwise shall Buyer be liable to Seller for any punitive, speculative or consequential damages.
		

		
			(b)        In the event that Buyer is ready, willing and able to close in accordance with the terms and provisions hereof, and Seller defaults in the obligations herein taken by Seller with respect to the Property, Buyer may, as its sole and exclusive remedy, either:  (i) waive any unsatisfied conditions and proceed to Closing in accordance with the terms and provisions hereof; (ii) terminate this Agreement by delivering written notice thereof to Seller no later than Closing, upon which termination the Earnest Money and the Non-Refundable Deposit shall be refunded to Buyer, and Seller shall reimburse Buyer for Buyer’s out-of-pocket expenses incurred in connection with the investigation by Buyer of the Property in an amount not to exceed $15,000, including
		

		
			
		

		
			

		 

		

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			consultants and attorneys’ fees, which return and payment shall operate as liquidated damages, and such termination shall release Seller and Buyer from any and all rights, obligations and liability hereunder, except those which are specifically stated herein to survive any termination hereof; or (iii) by notice to Seller given on or before the Closing Date, extend the Closing Date for a period of up to thirty (30) days (the “Closing Extension Period”) to permit Seller to remedy such default, and the “Closing Date” shall be moved to the last day of the Closing Extension Period or (iv) enforce specific performance of Seller’s obligations hereunder provided any action for specific performance is commenced within thirty (30) days following Seller’s breach.  If Buyer so extends the Closing Date, then Seller may, but shall not be obligated to, cause said conditions to be satisfied during the Closing Extension Period.  If Seller does not cause said conditions to be satisfied during the Closing Extension Period, then Buyer shall have the remedies set forth in Section 9(b)(i) through (iv) above except that the term “Closing” shall read “Extended Closing”.
		

		
			10.       Closing.  The Closing shall consist of the execution and delivery of documents by Seller and Buyer, as set forth below, and delivery by Buyer to Seller of the Purchase Price in accordance with the terms of this Agreement.  At Closing, Seller shall deliver physical possession of the Property to Buyer, free and clear of all of Tenant’s Personal Property.  Seller shall deliver to Escrow Agent for the benefit of Buyer at Closing the following executed documents (collectively, the “Closing Documents”):
		

		
			(a)        A Limited Warranty Deed (the “Deed”) in substantially the form attached hereto as Exhibit B;
		

		
			(b)        A Bill of Sale for the Personal Property in substantially the form attached hereto as Exhibit C;
		

		
			(c)        An Assignment of Contracts, Permits, Licenses and Warranties in substantially the form of Exhibit D;
		

		
			(d)        To the extent obtained by Seller, estoppel certificates with respect to reciprocal easement agreements as may be reasonably requested by Buyer;
		

		
			(e)        A settlement statement setting forth the Purchase Price, all prorations and other adjustments to be made pursuant to the terms hereof, and the funds required for Closing as contemplated hereunder;
		

		
			(f)        All transfer tax statements, declarations and filings as may be necessary or appropriate for purposes of recordation of the Deed;
		

		
			(g)        A certificate pursuant to Section 1445 of the Internal Revenue Code of 1986, as amended, or the regulations issued pursuant thereto, certifying the non-foreign status of Seller;
		

		
			(h)        A copy of the fully-executed Lease Termination Agreement, provided that any financial terms set forth in the Lease Termination Agreement may be redacted by Seller;
		

		
			(i)         A copy of the Purchase Waiver (as defined below), if applicable; and
		

		
			
		

		
			

		 

		

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			(j)         Such other instruments as are reasonably required by Escrow Agent to close the escrow and consummate the purchase of the Property in accordance with the terms hereof.
		

		
			At Closing, Buyer shall instruct Escrow Agent to deliver the Earnest Money to Seller which shall be applied to the Purchase Price, shall deliver the balance of the Purchase Price to Seller and shall execute and deliver execution counterparts, as applicable, of the Closing Documents referenced above.  The Closing shall be held through the mail by delivery of the Closing Documents to the Escrow Agent on or prior to the Closing or such other place or manner as the parties hereto may mutually agree.
		

		
			11.       Representations by Seller.  For the purpose of inducing Buyer to enter into this Agreement and to consummate the sale and purchase of the Property in accordance herewith, Seller makes the following representations and warranties to Buyer as of the date hereof and as of the Closing Date:
		

		
			(a)        Seller is duly organized (or formed), validly existing and in good standing under the laws of its state of organization, and to the extent required by law, the State in which the Property is located.  Seller has the power and authority to execute and deliver this Agreement and all Closing Documents to be executed by Seller, and to perform all of Seller’s obligations hereunder and thereunder.  Neither the execution and delivery of this Agreement and all Closing Documents to be executed by Seller, nor the performance of the obligations of Seller hereunder or thereunder will result in the violation of any law or any provision of the organizational documents of Seller or will conflict with any order or decree of any court or governmental instrumentality of any nature by which Seller is bound;
		

		
			(b)        Seller has not received any written notice of any current or pending litigation, condemnation proceeding or tax appeals affecting Seller or the Property and Seller is not a party to and does not have any knowledge of any pending litigation, condemnation proceeding or tax appeals against Seller or the Property; Seller has not initiated, nor is Seller participating in, any action for a change or modification in the current subdivision, site plan, zoning or other land use permits for the Property and Seller has no knowledge that the Property may be rezoned;
		

		
			(c)        Seller has not entered into any contracts, subcontracts or agreements affecting the Property which will be binding upon Buyer after the Closing;
		

		
			(d)        Except for violations cured or remedied on or before the date hereof, Seller has not received any written notice from (or delivered any notice to) (i) any governmental authority regarding any violation of any law applicable to the Property and Seller does not have knowledge of any such violations; and (ii) any third party that the Property or the current use thereof violates any private covenant, restriction, easement or encumbrance and Seller does not have any knowledge of any such violation;
		

		
			(e)        Seller has fee simple title to the Property, and as of the Closing, such title will be free and clear of all liens and encumbrances except for Permitted Exceptions.  The Property constitutes one or more separate tax parcels for purposes of ad valorem taxation;
		

		
			
		

		
			

		 

		

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			(f)        There are no occupancy rights, leases or tenancies affecting the Property other than the Lease, which will be terminated pursuant to the terms of the Lease Termination Agreement at Closing.  Neither this Agreement nor the consummation of the transactions contemplated hereby is subject to any first right of refusal or other purchase right in favor of any other person or entity; and apart from this Agreement, Seller has not entered into any written agreements for the purchase or sale of the Property, or any interest therein which has not been terminated;
		

		
			(g)        To Seller’s knowledge, except as set forth in the environmental reports previously delivered by Seller to Buyer, no hazardous substances have been generated, stored, released, or disposed of on or about the Property (i) in violation of any law, rule or regulation applicable to the Property which regulates or controls matters relating to the environment or public health or safety (collectively, “Environmental Laws”) or (ii) which would require remediation.  For purposes of this Subsection, “hazardous substances” shall mean any substance or material which is defined or deemed to be hazardous or toxic pursuant to any Environmental Laws, including petroleum and its byproducts;
		

		
			(h)        Seller is not a party to any voluntary or involuntary proceedings under any applicable laws relating to the insolvency, bankruptcy, moratorium or other laws affecting creditors rights to the extent that such laws may be applicable to Seller;
		

		
			(i)         To Seller’s knowledge, there is no tangible Personal Property owned by Seller at the Property, and Seller is not a party to any service contracts for the operation and maintenance of the Property;
		

		
			(j)         To Seller’s knowledge, Seller has received no written notice of any special assessments for public or private improvements by a public body, whether municipal, county or state imposed, affecting any of the Real Property, which are now or hereafter payable;
		

		
			(k)        To Seller’s knowledge, all Due Diligence Materials delivered or made available to Buyer are complete, accurate, true and correct in all material respects; and
		

		
			(l)         As used in this Agreement, the words “Seller's knowledge” or words of similar import shall be deemed to mean, and shall be limited to, the actual (as distinguished from implied, imputed or constructive) knowledge of Akomea Poku-Kankam, Senior Vice President and Counsel for AR Global Investments, without any duty of inquiry or investigation, and shall not be construed to refer to the knowledge of any other officer, agent or employee of Seller or any affiliate thereof.  Seller represents to Buyer that Akomea Poku-Kankam is the Seller’s representative that has the most knowledge about the ownership, operation and management of the Property.  To the extent Buyer discovers or acquires actual knowledge prior to the Closing of any inaccuracy in a representation and warranty of Seller in this Agreement and the Closing occurs, such representation and warranty shall be deemed modified to reflect the inaccuracy discovered by Buyer.  Seller’s representations and warranties set forth in this Agreement shall survive the Closing for a period of six (6) months and any action brought on Seller’s representations and warranties shall be commenced within said six (6) month period or shall be forever barred and waived.  In no event shall Buyer be entitled to make a claim for breach of such representations or warranties and Seller shall have no liability in connection therewith (i) unless and until the
		

		
			
		

		
			

		 

		

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			aggregate amount of all such claims exceeds $5,000.00 or (ii) for any amount in excess of $100,000.00 in the aggregate.
		

		
			12.       Representations by Buyer.  Buyer represents and warrants to, and covenants with, Seller as of the date hereof and as of the Closing Date as follows:
		

		
			(a)        Buyer is duly formed, validly existing and in good standing under the laws of its state of formation, and on the Closing Date, to the extent required by law, the State in which the Property is located, is authorized to consummate the transaction set forth herein and fulfill all of its obligations hereunder and under all Closing Documents to be executed by Buyer, and has all necessary power and authority to execute and deliver this Agreement and all Closing Documents to be executed by Buyer, and to perform all of Buyer’s obligations hereunder and thereunder.
		

		
			(b)        This Agreement and all Closing Documents to be executed by Buyer have been duly authorized by all requisite corporate or other required action on the part of Buyer and are the valid and legally binding obligation of Buyer, enforceable in accordance with their respective terms.
		

		
			(c)        Neither the execution and delivery of this Agreement and all Closing Documents to be executed by Buyer, nor the performance of the obligations of Buyer hereunder or thereunder will result in the violation of any provision of the organizational documents of Buyer or will conflict with any order or decree of any court or governmental instrumentality of any nature by which Buyer is bound.
		

		
			The representations and warranties of Buyer shall survive Closing for a period of six (6) months.
		

		
			13.       Conditions Precedent to Buyer’s Obligations.    Buyer’s obligation to pay the Purchase Price, and to accept title to the Property, shall be subject to the following conditions precedent on and as of the date of Closing:
		

		
			(a)        Seller shall deliver to Escrow Agent on or before the Closing the items set forth in Section 10 above;
		

		
			(b)        The Lease shall have been terminated in accordance with the terms of the Lease Termination Agreement simultaneously with the Closing and a copy of the fully-executed Lease Termination Agreement shall be delivered to Buyer (provided that any financial terms set forth in the Lease Termination Agreement may be redacted by Seller);
		

		
			(c)        To the extent that there is a right of first refusal, right of first offer or other purchase option that Tenant or any such other party has pursuant to the Lease or otherwise to purchase the Property from Seller, Seller shall provide to Buyer and Escrow Agent such documentation necessary to deliver title to the Property to Buyer free and clear of such right (i.e. a written waiver or affidavit) (the “Purchase Waiver”); and
		

		
			(d)        The representations and warranties of Seller contained in this Agreement shall have been true when made and shall be true in all material respects at and as of the date of Closing as if such representations and warranties were made at and as of the Closing, and Seller
		

		
			
		

		
			

		 

		

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			shall have performed and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed or complied with by Seller prior to or at the Closing;
		

		
			In the event that the foregoing conditions precedent have not been satisfied as of Closing, Buyer shall have the rights and remedies set forth in Section 9(b) of this Agreement.
		

		
			14.       Conditions Precedent to Seller’s Obligations.  Seller’s obligation to deliver title to the Property shall be subject to compliance by Buyer with the following conditions precedent on and as of the date of Closing:
		

		
			(a)        Buyer shall deliver to Escrow Agent on the Closing Date the remainder of the Purchase Price, subject to adjustment of such amount pursuant to Section 4 hereof and all applicable documents to be delivered by Buyer in accordance with Section 10 above;
		

		
			(b)        The Lease shall have been terminated in accordance with the terms of the Lease Termination Agreement simultaneously with the Closing; and
		

		
			(c)        The representations and warranties of Buyer contained in this Agreement shall have been true when made and shall be true in all material respects at and as of the date of Closing as if such representations and warranties were made at and as of the Closing, and Buyer shall have performed and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed or complied with by Buyer prior to or at the Closing.
		

		
			15.       Notices.  Unless otherwise provided herein, all notices and other communications which may be or are required to be given or made by any party to the other in connection herewith shall be in writing and shall be deemed to have been properly given and received on the date: (i) delivered by electronic mail (e.g. email), (ii) delivered in person, (iii) upon the date tendered for delivery if deposited in the United States mail, registered or certified, return receipt requested, or (iv) on the next business day following delivery to a nationally recognized overnight courier, to the addresses set out in Section 1, or at such other addresses as specified by written notice delivered in accordance herewith.  Notwithstanding the foregoing, Seller and Buyer agree that notice may be given on behalf of each party by the counsel for each party and notice by such counsel in accordance with this Section 15 shall constitute notice under this Agreement.
		

		
			16.       Seller Covenants.  Seller agrees that it:  (a) shall continue to operate and manage the Property in the same manner in which Seller has previously operated and managed the Property; (b) shall, subject to Section 7 hereof and subject to reasonable wear and tear, maintain the Property in the same (or better) condition as exists on the date hereof, (c) enter into any new easement agreement or any other agreement affecting title to the Property, (d) enter into any lease, license agreement or other occupancy agreement with respect to the Property or (e) consent to any alteration of the Property pursuant to the terms of the Lease (unless such consent is non-discretionary).  Seller shall promptly inform Buyer in writing of any event adversely affecting the ownership, use, occupancy or maintenance of the Property, whether insured or not.
		

		
			17.       Performance on Business Days.  A "business day" is a day which is not a Saturday, Sunday or legal holiday recognized by the Federal Government.  Furthermore, if any
		

		
			
		

		
			

		 

		

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			date upon which or by which action is required under this Agreement is not a business day, then the date for such action shall be extended to the first day that is after such date and is a business day.  When calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded.  If the last day of such period is a non-business day, the period in question shall end on the next succeeding business day.
		

		
			18.       Entire Agreement.  This Agreement constitutes the sole and entire agreement among the parties hereto with respect to the purchase and sale of the Property and no modification of this Agreement shall be binding unless in writing and signed by all parties hereto.   No prior agreement or understanding pertaining to the subject matter hereof (including, without limitation, any letter of intent or right-of-entry agreement executed prior to this Agreement) shall be valid or of any force or effect from and after the date hereof.
		

		
			19.       Severability.  If any provision of this Agreement, or the application thereof to any person or circumstance, shall be invalid or unenforceable, at any time or to any extent, then the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby.  Each provision of this Agreement shall be valid and enforced to the fullest extent permitted by law.
		

		
			20.       No Representations or Warranties/ As is Release.
		

		
			(a)        Buyer hereby acknowledges, understands and agrees that it has an opportunity to inspect the Property as set forth in Section 6 herein, and except as set forth in this Agreement, including specifically, but without limitation, Section 11 of this Agreement and Seller’s limited warranty of title contained in the Deed, the Property shall be conveyed at Closing to Buyer in “as-is” condition with no representation or warranties whatsoever.
		

		
			(b)        Buyer acknowledges and agrees that the Property shall be sold, and Buyer shall accept possession of the Property on the Closing Date “AS IS – WHERE IS, WITH ALL FAULTS,” with no right of setoff or reduction in the Purchase Price, and Buyer shall assume the risk that adverse physical, environmental, economic or legal conditions may not have been revealed by Buyer's investigations.  Except as expressly set forth in Section 11 and in the Closing Documents, neither Seller, its employees, representatives, agents, counsel, broker, sales agent, nor any partner, member, officer, director, employee, trustee, shareholder, principal, parent, subsidiary, affiliate, agent or attorney of Seller, its counsel, broker or sales agent, nor any other party related in any way to any of the foregoing (collectively, “Seller's Representatives”) have or shall be deemed to have made any representations or warranties, express or implied, regarding the Property or any matters affecting the Property, including without limitation, the physical condition of the Property, title to or boundaries of the Property, pest control, soil conditions, the presence or absence, location or scope of any hazardous materials in, at, or under the Property, compliance with building, health, safety, land use or zoning Laws, other engineering characteristics, traffic patterns and all other information pertaining to the Property.  Buyer moreover acknowledges (i) that Buyer is a sophisticated buyer, knowledgeable and experienced in the financial and business risks attendant to an investment in real property and capable of evaluating the merits and risks of entering into this Agreement and purchasing the Property, (ii) that Buyer has entered into this Agreement in reliance on its own (or its experts') investigation of
		

		
			
		

		
			

		 

		

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			the physical, environmental, economic and legal condition of the Property, and (iii) that Buyer is not relying upon any representation or warranty concerning the Property made by Seller or Seller’s Representatives other than as expressly set forth in Section 11 and in the Closing Documents.  Seller shall not have any liability of any kind or nature for any subsequently discovered defects in the Property, whether the defects were latent or patent.
		

		
			(c)        Buyer acknowledges that prior to the Closing, Buyer was afforded the opportunity for full and complete investigations, examinations and inspections of the Property.  Buyer acknowledges and agrees that (i) all information and documents in any way relating to the Property furnished to, or otherwise made available for review by Buyer (the “Property Information”) may have been prepared by third parties and may not be the work product of Seller and/or Seller's Representatives; (ii) neither Seller nor any of Seller's Representatives has made any independent investigation or verification of, or has any knowledge of, the accuracy or completeness of, the Property Information; and (iii) Buyer is relying solely on its own investigations, examinations and inspections of the Property and is not relying in any way on the Property Information furnished by Seller or any of Seller's Representatives.
		

		
			(d)        Except insofar as Seller has breached the representations and warranties in Section 11, Buyer or anyone claiming by, through or under Buyer hereby fully and irrevocably releases Seller and Seller's Representatives from any and all claims that it may now have or hereafter acquire against Seller or Seller's Representatives for any cost, loss, liability, damage, expense, action or cause of action, whether foreseen or unforeseen, arising from or related to any structural, engineering or environmental condition at the Property, including without limitation the presence or absence, location or scope of any hazardous materials in, at, or under the Property (whether patent, latent or otherwise) as of the date of Closing.  Buyer further acknowledges and agrees that this release shall be given full force and effect according to each of its expressed terms and provisions, including but not limited to, those relating to unknown and suspected claims, damages and causes of action.
		

		
			21.       Applicable Law.  This Agreement shall be construed under the laws of the State of Ohio, without giving effect to any state's conflict of laws principles.
		

		
			SELLER AND BUYER HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY, UNCONDITIONALLY AND IRREVOCABLY WAIVE ANY RIGHT EACH MAY HAVE TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER ARISING IN TORT OR CONTRACT) BROUGHT BY EITHER AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT OR ANY OTHER DOCUMENT EXECUTED AND DELIVERED BY A PARTY IN CONNECTION HEREWITH (INCLUDING ANY ACTION TO RESCIND OR CANCEL THIS AGREEMENT WAS FRAUDULENTLY INDUCED OR IS OTHERWISE VOID OR VOIDABLE).
		

		
			22.       Tax-Deferred Exchange.  Buyer and Seller respectively acknowledge that the purchase and sale of the Property contemplated hereby may be part of a separate exchange (an “Exchange”) being made by Seller pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated with respect thereto.  In the event that Seller desires to effectuate such an exchange, then the Buyer agrees to cooperate fully with the Seller in
		

		
			
		

		
			

		 

		

			15

		

 

		

			 

		

		

		
			 
		

		
			order that the Seller may effectuate such Exchange; provided, however, that with respect to such Exchange (a) all additional costs, fees and expenses related thereto shall be the sole responsibility of, and borne by, the Seller; (b) the Buyer shall incur no additional liability as a result of such exchange; (c) the contemplated exchange shall not delay any of the time periods or other obligations of the Seller hereby, and without limiting the foregoing, the scheduled date for Closing shall not be delayed or adversely affected by reason of the Exchange; (d) the accomplishment of the Exchange shall not be a condition precedent or condition subsequent to the Seller's obligations under the Agreement; and (e) the Buyer shall not be required to hold title to any land other than the Property for purposes of the Exchange.  The Seller agrees to defend, indemnify and hold the Buyer harmless from any and all liability, damage or cost, including, without limitation, reasonable attorney's fees that may result from Buyer's cooperation with the Exchange. The Buyer shall not, by reason of the Exchange, (i) have its rights under this Agreement, including, without limitation, any representations, warranties and covenants made by the Seller in this Agreement (including but not limited to any warranties of title, which shall remain warranties of Seller), or in any of the Closing Documents (including but not limited to any warranties of title, which shall remain warranties of Seller) contemplated hereby, adversely affected or diminished in any manner, or (ii) be responsible for compliance with or deemed to have warranted to the Seller that the Exchange complies with Section 1031 of the Code.
		

		
			23.       Broker’s Commissions.  Buyer and Seller each hereby represent that, except for the Broker listed herein, there are no other brokers involved or that have a right to proceeds in this transaction.  Seller shall be responsible for payment of commissions to the Broker pursuant to a separate written agreement executed by Seller.  Seller and Buyer each hereby agree to indemnify and hold the other harmless from all loss, cost, damage or expense (including reasonable attorneys' fees) incurred by the other as a result of any claim arising out of the acts of the indemnifying party (or others on its behalf) for a commission, finder's fee or similar compensation made by any broker, finder or any party who claims to have dealt with such party (except that Buyer shall have no obligations hereunder with respect to any claim by Broker).  The representations, warranties and indemnity obligations contained in this section shall survive the Closing or the earlier termination of this Agreement.
		

		
			24.       Assignment.  This Agreement may be not assigned by Buyer, and any assignment or attempted assignment by Buyer shall constitute a default by Buyer hereunder and shall be null and void, provided, however, Buyer may assign this Agreement to a newly formed special purpose entity or an affiliate of Buyer, which entity is either controlled by or under common control with Buyer, without Seller’s consent, provided further that Buyer shall remain primarily obligated hereunder notwithstanding such assignment.
		

		
			 
		

		
			25.       Attorneys’ Fees.  In any action between Buyer and Seller as a result of failure to perform or a default under this Agreement, the prevailing party shall be entitled to recover from the other party, and the other party shall pay to the prevailing party, the prevailing party’s attorneys’ fees and disbursements and court costs incurred in such action.
		

		
			26.       Time of the Essence.  Time is of the essence with respect to each of Buyer’s and Seller’s obligations hereunder.
		

		
			
		

		
			

		 

		

			16

		

 

		

			 

		

		

		
			 
		

		
			27.       Counterparts.  This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become a binding agreement when both counterparts have been signed by each of the parties and delivered to the other party.  Signatures on this Agreement which are transmitted electronically shall be valid for all purposes, however any party shall deliver an original signature on this Agreement to the other party upon request.
		

		
			28.       Anti-Terrorism.  Neither Buyer nor any of their affiliates are in violation of any Anti-Terrorism Law (as hereinafter defined) or engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law.  Neither Seller nor any of its affiliates are in violation of any Anti-Terrorism Law or engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law.  “Anti-Terrorism Laws” shall mean any laws relating to terrorism or money laundering, including: Executive Order No. 13224; the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56, as the same has been, or may hereafter be, renewed, extended, amended or replaced; the applicable laws comprising or implementing the Bank Secrecy Act; and the applicable laws administered by the United States Treasury Department’s Office of Foreign Asset Control (as any of the foregoing may from time to time be amended, renewed, extended, or replaced).
		

		
			29.       Confidentiality.
		

		
			(a)        Subject to the Ohio open records law, Buyer agrees that neither it nor Buyer’s Representatives shall at any time or in any manner, either directly or indirectly, divulge, disclose or communicate to any person, entity or association any knowledge or information acquired by Buyer or Buyer’s Representatives from Seller or by Buyer’s own inspections and investigations, other than matters that were in the public domain at the time of receipt by Buyer, provided that Buyer may disclose such terms of this Agreement and its reports, studies, documents and other matters generated by it as Buyer deems necessary or desirable to Buyer’s attorneys, accountants, financial advisors, investors and lenders, in connection with Buyer’s investigation of the Property and/or purchase of the Property, provided that the parties to whom such information is disclosed are informed of the confidential nature thereof and agree to keep the same confidential in accordance with this Agreement.
		

		
			(b)        Buyer acknowledges that damages alone may be an inadequate remedy for any breach by it or Buyer’s Representatives of the terms of this Section 29 and agrees that, in addition to any other remedies that Seller may have, Seller shall be entitled to injunctive relief in any court of competent jurisdiction against any breach of this Section 29.
		

		
			[SIGNATURES APPEAR ON THE FOLLOWING PAGES]
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			17

		

 

		

			 

		

		

		
			 
		

		
			IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						SELLER:

					
					
						    

					
					
						BUYER:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						ARC CRVANOH001, LLC, a Delaware limited liability company

					
					
						 

					
					
						AXOGEN CORPORATION, a Delaware corporation

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By: 

					
					
						/S/Michael Anderson

					
					
						 

					
					
						By:  

					
					
						/s/Karen Zaderej

				
	
					
						Name: 

					
					
						Michael Anderson

					
					
						 

					
					
						Name: 

					
					
						Karen Zaderej

				
	
					
						Title: 

					
					
						Authorized Signatory

					
					
						 

					
					
						Date: 

					
					
						June 8, 2018

				
	
					
						Date: 

					
					
						June 8, 2018

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			THE UNDERSIGNED HEREBY ACKNOWLEDGES AND AGREES TO BE BOUND BY THE TERMS OF THIS AGREEMENT RELATING TO ESCROW AGENT AND THE EARNEST MONEY AND NON-REFUNDABLE DEPOSIT.
		

		
			 
		

		
			 
		

		
			ESCROW AGENT:
		

		
			CHICAGO TITLE INSURANCE COMPANY
		

		
			 
		

		
			 
		

		
			 
		

			
					
						By: 

					
					
						/s/Sharonkay T. Hughs

					
					
						 

					
					
						 

				
	
					
						Name: 

					
					
						Sharonkay T. Hughs

					
					
						 

					
					
						 

				
	
					
						Title: 

					
					
						Assistant Vice President

					
					
						 

					
					
						 

				
	
					
						Date: 

					
					
						June 8, 2018

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			[SIGNATURE PAGE TO AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY]

		

 

		

			 

		

		

		
			 
		

		
			EXHIBITS
		

		
			 
		

			
					
						Exhibit A

					
					
						-

					
					
						Legal Description of Real Property

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Exhibit B

					
					
						-

					
					
						Form of Limited Warranty Deed

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Exhibit C

					
					
						-

					
					
						Form of Bill of Sale

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Exhibit D

					
					
						-

					
					
						Form of Assignment of Contracts, Permits, Licenses and Warranties

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			 
		

		
			EXHIBIT A
		

		
			LEGAL DESCRIPTION OF REAL PROPERTY
		

		
			 
		

		
			SITUATED IN THE CITY OF VANDALIA, COUNTY OF MONTGOMERY, STATE OF OHIO AND BEING LOT NUMBERED 21 OF SCHOLZ INDUSTRIAL PARK REPLAT AS RECORDED IN PLAT BOOK 177, PAGES 49 AND 49A, BEING A REPLAT OF PART OF LOT 7 OF THE SCHOLZ INDUSTRIAL PARK SECTION 1 AS RECORDED IN PLAT BOOK 66, PAGE 4 AND LOT 16 OF SCHOLZ INDUSTRIAL PARK SECTION 3 AS RECORDED IN PLAT BOOK 80, PAGE 40, ALL OF THE PLAT RECORDS OF MONTGOMERY COUNTY, OHIO.
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			A-1

		

 

		

			 

		

		

		
			 
		

		
			EXHIBIT B
		

		
			FORM OF LIMITED WARRANTY DEED
		

		
			[Subject to Seller Local Counsel Review]
		

		
			 
		

		
			LIMITED WARRANTY DEED
		

		
			 
		

		
			KNOW ALL MEN BY THESE PRESENTS THAT:  ____________________________, a(n) _____________________________ ("Grantor"), for valuable consideration paid, grants with limited warranty covenants to ________________________, a(n) _____________________________ ("Grantee"), whose tax mailing address is ________________________, the real property situated in the __________ of _____________, County of ______________, State of Ohio, and more particularly described as follows:
		

		
			 
		

		
			See Exhibit “A” attached hereto and made a part hereof.
		

		
			 
		

		
			1.        Prior Instrument Reference:   _____________________________
		

		
			 
		

		
			2.        Parcel Numbers:                  ______________________________
		

		
			 
		

		
			Subject to real estate taxes and assessments which are not yet due and payable; and the easements, conditions and restrictions of record listed on Exhibit “B” attached hereto and made a part hereof.
		

		
			 
		

		
			Executed this ___________ day of _______________, 201__.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						GRANTOR:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						__________________________________________,

				
	
					
						 

					
					
						a(n) ______________________________

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:    ____________________________________

				
	
					
						 

					
					
						Print Name:   _______________________________

				
	
					
						 

					
					
						Its:    ____________________________________

				

		
			 
		

		
			
		

		
			

		 

		

			B-1

		

 

		

			 

		

		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						STATE OF OHIO

					
					
						:

				
	
					
						 

					
					
						:  ss.

				
	
					
						COUNTY OF ____________

					
					
						:

				

		
			 
		

		
			Before me, a Notary Public in and for said County and State, personally appeared ________________________________, ______________________ of ______________________________, a(n) ___________________________________, who acknowledged that ____ did sign the foregoing instrument and that the same is _____ free and voluntary act and deed for and on behalf of said ______________________________________.
		

		
			 
		

		
			In Testimony whereof, I have hereunto set my hand and official seal this ______ day of _____________________, 201___.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						Notary Public

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						This instrument prepared by:

					
					
						Herbert Godby, Esq.

				
	
					
						 

					
					
						Ice Miller LLP

				
	
					
						 

					
					
						250 West Street

				
	
					
						 

					
					
						Columbus, Ohio 43215

				

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			B-2

		

 

		

			 

		

		

		
			 
		

		
			EXHIBIT C
		

		
			FORM OF BILL OF SALE
		

		
			For valuable consideration, the receipt and sufficiency of which is hereby acknowledged, ARC CRVANOH001, LLC, a Delaware limited liability company, having an address at c/o AR Global Investments, LLC, 405 Park Avenue, 4th Floor, New York, New York 10022 (“Seller”), hereby bargains, sells, conveys and transfers to ____________________________ (“Buyer”), a _______________________________, all of Seller’s right, title and interest in and to all fixtures, equipment and tangible personal property and intangible personal property (including any warranty made by third parties in connection with the same and the right to sue on any claim for relief under such warranties) (the “Personal Property”) owned by Seller and located at or held in connection with that certain real property located at 913 Industrial Park Drive, Vandalia, Ohio, as more particularly described on Schedule A attached hereto and made a part hereof.
		

		
			Seller has not made and does not make any express or implied warranty or representation of any kind whatsoever with respect to the Personal Property, including, without limitation, with respect to title, merchantability of the Personal Property or its fitness for any particular purpose, the design or condition of the Personal Property; the quality or capacity of the Personal Property; workmanship or compliance of the Personal Property with the requirements of any law, rule, specification or contract pertaining thereto; patent infringement or latent defects.  Buyer accepts the Personal Property on an “as is, where is” basis.
		

		
			IN WITNESS WHEREOF, Seller has caused this instrument to be executed and delivered as of this ___ day of _______, 2018.
		

			
					
						 

					
					
						SELLER:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						ARC CRVANOH001, LLC, a Delaware limited liability company

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			C-1

		

 

		

			 

		

		

		
			 
		

		
			SCHEDULE A
		

		
			TO BILL OF SALE
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			C-2

		

 

		

			 

		

		

		
			 
		

		
			EXHIBIT D
		

		
			FORM OF ASSIGNMENT OF CONTRACTS,
		

		
			 PERMITS, LICENSES AND WARRANTIES
		

		
			THIS ASSIGNMENT, made as of the ___ day of ________, 2018, by ARC CRVANOH001, LLC, a Delaware limited liability company  (“Assignor”), to _____________________________, a __________________________________________(“Assignee”).
		

		
			W I T N E S S E T H:
		

		
			WHEREAS, by Agreement for Purchase and Sale of Real Property (the “Purchase Agreement”) dated as of ________, 2018, between Assignor and Assignee, Assignee has agreed to purchase from Assignor as of the date hereof, and Assignor has agreed to sell to Assignee, that certain property located at 913 Industrial Park Drive, Vandalia, Ohio  (the “Property”); and
		

		
			WHEREAS, Assignor desires to assign to Assignee as of the date hereof all of Assignor’s right, title and interest in contracts, permits, trademarks, licenses and warranties held by Assignor in connection with the Property (collectively, the “Contracts”).
		

		
			NOW THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Assignor hereby assigns, sets over and transfers unto Assignee to have and to hold from and after the date hereof all of the right, title and interest of Assignor in, to and under the Contracts.  Assignor agrees without additional consideration to execute and deliver to Assignee any and all additional forms of assignment and other instruments and documents that may be reasonably necessary or desirable to transfer or evidence the transfer to Assignee of any of Assignor's right, title and interest to any of the Contracts.
		

		
			By executing this assignment, Assignee hereby accepts the assignment of and assumes Assignor’s obligations and liabilities set forth in the Contracts from and after the date hereof. This Assignment shall be governed by the laws of the State of Ohio, applicable to agreements made and to be performed entirely within said State.
		

		
			IN WITNESS WHEREOF, Assignor has duly executed this Assignment as of the date first above written.
		

			
					
						ASSIGNOR:

					
					
						    

					
					
						ASSIGNEE:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						ARC CRVANOH001, LLC, 

					
					
						 

					
					
						 

				
	
					
						a Delaware limited liability company

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By: 

					
					
						 

					
					
						 

					
					
						By

					
					
						 

				
	
					
						Name: 

					
					
						 

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title: 

					
					
						 

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		 

		

			D-1

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