Document:

Loan and Security Agreement

 Exhibit 10.1 
 LOAN AND SECURITY AGREEMENT 
 This LOAN AND SECURITY AGREEMENT (this
“Agreement”) is entered into as of July 12, 2012, between Guidance Software, Inc., a Delaware corporation, with its chief executive office located at 215 North Marengo Avenue, Suite 250, Pasadena,
California 91101 (the “Borrower”) and Bank of the West, a California banking corporation, with an address of 15165 Ventura Boulevard, Sherman Oaks, CA 91403 (the “Lender”). 

FOR VALUE RECEIVED, and in consideration of the granting by the Lender of financial accommodations to or for the benefit of Borrower,
including without limitation respecting the Obligations (as hereinafter defined), Borrower represents to and agrees with the Lender, as of the date hereof and as of the date of each loan, credit and/or other financial accommodation, as follows:

 1.        THE LOAN 
 1.1 Loan(s). Lender agrees, from time to time, in its sole discretion, to make one or more revolving loans, non-revolving loans or term loans (collectively, the “Loans”) to or for the
account of Borrower, upon Borrower’s request therefor, in such amounts as shall be mutually agreed upon, subject to the terms and conditions set forth herein; provided there is no continuing uncured Event of Default (as hereinafter defined).
Loans shall be evidenced by one or more notes issued by Borrower in favor of the Lender (collectively, and each a “Note”). This Agreement, each Note and any and all other documents, substitutions, modifications, extensions, amendments or
renewals executed and delivered in connection with any of the foregoing are collectively hereinafter referred to as the “Loan Documents”. 
 1.2 Loan Account(s). One or more accounts shall be opened on the books of Lender in which a record will be kept of all Loans, and all payments thereon and other appropriate debits and credits as
provided by the Loan Documents. 
 1.3 Interest. Interest respecting the Loan(s) will be charged to Borrower on the principal amount from
time to time outstanding at the interest rate specified in the Note(s) in accordance with the terms of the Note(s). 
 1.4 Repayment. All
loans and advances made respecting any Loan shall be payable to Lender on or before the Expiration Date of the respective Note. 
 1.5
Authorized Persons; Advances. Any person duly authorized by a general borrowing resolution of Borrower, or in the absence of such a resolution, the President, Chief Financial Officer, Chief Accounting Officer, or any person otherwise
authorized in this paragraph, may request discretionary Loans hereunder, either orally or otherwise, but the Lender at its option may require that all requests for Loans hereunder shall be in writing. The Lender shall incur no liability to Borrower
in acting upon any request referred to herein which the Lender believes in good faith to have been made by an authorized person or persons. Each Loan hereunder may be credited by Lender to any deposit account of Borrower with Lender or with any
other bank with which Borrower maintains a deposit account, or may be paid to Borrower (or as Borrower instructs) or may be applied to any Obligations, as Lender may in each instance elect. 
 1.6 Periodic Statement. Upon request of Borrower, Lender will render to Borrower a statement of the Loan accounts, showing all applicable credits and debits. Each statement shall be considered
correct 

 
and to have been accepted by Borrower in respect of all charges, debits and credits of whatsoever nature contained therein respecting the Loans, and the closing balance shown therein, unless
Borrower notifies Lender in writing of any discrepancy within Sixty (60) days from the mailing by Lender to Borrower of any such statement. 
 2.        GRANT OF SECURITY INTEREST 
 2.1 Grant
of Security Interest. In consideration of the Lender’s extending credit and other financial accommodations to or for the benefit of Borrower, Borrower hereby grants to the Lender a security interest in, a lien on and pledge and assignment
of the Collateral (as hereinafter defined). The security interest granted by this Agreement is given to and shall be held by the Lender as security for the payment and performance of all Obligations, including, without limitation, all amounts
outstanding pursuant to the Loan Documents. 
 2.2 Definitions. The following definitions shall apply to this Agreement: 

 

	 	(a)	“Code” shall mean the Uniform Commercial Code of California as amended from time to time. 

 

	 	(b)	“Collateral” shall mean all of Borrower’s present and future right, title and interest in and to any and all of the personal property of Borrower whether
such property is now existing or hereafter created, acquired or arising and wherever located from time to time, including without limitation: 

  

	 	(i)	accounts; 

  

	 	(ii)	chattel paper; 

  

	 	(iii)	goods; 

  

	 	(iv)	inventory; 

  

	 	(v)	equipment; 

  

	 	(vi)	fixtures; 

  

	 	(vii)	farm products; 

  

	 	(viii)	instruments; 

  

	 	(ix)	investment property; 

  

	 	(x)	documents; 

  

	 	(xi)	commercial tort claims; 

  

	 	(xii)	deposit accounts; 

  

	 	(xiii)	letter-of-credit rights; 

  

	 	(xiv)	general intangibles; 

  

	 	(xv)	supporting obligations; and 

  

	 	(xvi)	records of, accession to and proceeds and products of the foregoing. 

  
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	 	(c)	“Debtors” shall mean Borrower’s customers who are indebted to Borrower. 

 

	 	(d)	“Obligation(s)” shall mean, without limitation, all loans, advances, indebtedness, notes, liabilities, rate swap transactions, basis swaps, forward rate
transactions, commodity swaps, commodity options, equity or equity index swaps, equity or equity index options, bond options, interest rate options, foreign exchange transactions, cap transactions, floor transactions, collar transactions, forward
transactions, currency swap transactions, cross-currency rate swap transactions, currency options and amounts, liquidated or unliquidated, owing by Borrower to the Lender at any time, of each and every kind, nature and description, whether arising
under this Agreement or otherwise, and whether secured or unsecured, direct or indirect (that is, whether the same are due directly by Borrower to the Lender; or are due indirectly by Borrower to the Lender as endorser, guarantor or other surety, or
as borrower of obligations due third Persons which have been endorsed or assigned to the Lender, or otherwise), absolute or contingent, due or to become due, now existing or hereafter arising or contracted, including, without limitation, payment
when due of all amounts outstanding respecting any of the Loan Documents. Said term shall also include all interest and other charges chargeable to Borrower or due from Borrower to the Lender from time to time and all costs and expenses referred to
in this Agreement. 

  

	 	(e)	“Person” or “party” shall mean individuals, partnerships, corporations, limited liability companies and all other entities.

 All words and terms used in this Agreement other than those specifically defined herein shall have the meanings
accorded to them in the Code. 
 2.3 Ordinary Course of Business. The Lender hereby authorizes and permits Borrower to hold, process,
sell, use or consume in the manufacture or processing of finished goods, or otherwise dispose of inventory for fair consideration, all in the ordinary course of Borrower’s business, excluding, without limitation, sales to creditors or in bulk
or sales or other dispositions occurring under circumstances which would or could create any lien or interest adverse to the Lender’s security interest or other right hereunder in the proceeds resulting therefrom. The Lender also hereby
authorizes and permits Borrower to receive from the Debtors all amounts due as proceeds of the Collateral at Borrower’s own cost and expense, and also liability, if any, subject to the direction and control of the Lender at all times; and the
Lender may at any time, without cause or notice, and whether or not an Event of Default has occurred or demand has been made, terminate all or any part of the authority and permission herein or elsewhere in this Agreement granted to Borrower with
reference to the Collateral, and notify Debtors to make all payments due as proceeds of the Collateral to the Lender. Until Lender shall otherwise notify Borrower, all proceeds of and collections of Collateral shall be retained by Borrower and used
solely for the ordinary and usual operation of Borrower’s business. From and after notice by Lender to Borrower, all proceeds of and collections of the Collateral shall be held in trust by Borrower for Lender and shall not be commingled with
Borrower’s other funds or deposited in any Lender account of Borrower; and Borrower agrees to deliver to Lender on the dates of receipt thereof by Borrower, duly endorsed to Lender or to bearer, or assigned to Lender, as may be appropriate, all
proceeds of the Collateral in the identical form received by Borrower. 
 2.4 Allowances. Absent an Event of Default Borrower may grant
such allowances or other adjustments to Debtors (exclusive of extending the time for payment of any item which shall not be done without first obtaining the Lender’s written consent in each instance) as Borrower may reasonably deem to accord
with sound business practice, including, without limiting the generality of the foregoing, accepting the return of all or any part of the inventory. 
 2.5 Records. Borrower shall hold its books and records relating to the Collateral segregated from all Borrower’s other books and records in a manner satisfactory to the reasonable requirements
of Lender; and shall deliver to the Lender from time to time promptly at its reasonable request all invoices, original documents of title, contracts, chattel paper, instruments and any other writings relating thereto, and other

  
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evidence of performance of contracts, or evidence of shipment or delivery of the merchandise or of the rendering of services; and Borrower will deliver to the Lender promptly at the Lender’s
request from time to time additional copies of any or all of such papers or writings, and such other information with respect to any of the Collateral and such schedules of inventory, schedules of accounts and such other writings as the Lender may
in its sole discretion deem to be necessary or effectual to evidence any loan hereunder or the Lender’s security interest in the Collateral. 
 2.6 Legends. Borrower shall promptly make, stamp or record such entries or legends on Borrower’s books and records or on any of the Collateral (including, without limitation, chattel paper) as
Lender shall request from time to time, to indicate and disclose that Lender has a security interest in such Collateral. 
 2.7
Inspection. The Lender, or its representatives, at any time and from time to time, shall have the right at the sole cost and expense (for out of pocket costs to Borrower but not costs incurred by Lender) of Borrower, and Borrower will permit
the Lender and/or its representatives: (a) upon 24 hour notice to examine, check, make copies of or extracts from any of Borrower’s books, records and files (including, without limitation, orders and original correspondence); (b) to
perform field exams or otherwise inspect and examine the Collateral and to check, test or appraise the same as to quality, quantity, value and condition; and (c) to verify the Collateral or any portion or portions thereof or Borrower’s
compliance with the provisions of this Agreement. 
 3.        REPRESENTATIONS AND
WARRANTIES 
 3.1 Organization and Qualification. Borrower is a duly organized and validly existing corporation under the laws of the
State of its incorporation with the exact legal name set forth in the first paragraph of this Agreement. Borrower is in good standing under the laws of said State, has the power to own its property and conduct its business as now conducted and as
currently proposed to be conducted, is duly qualified to do business under the laws of each state where the nature of the business done or property owned requires such qualification, and, where necessary to maintain Borrower’s rights and
privileges, has complied with the fictitious name statute of every jurisdiction in which Borrower is doing business. 
 3.2 Reliance.
Each warranty, representation, covenant, obligation and agreement contained in this Agreement shall be conclusively presumed to have been relied upon by the Lender regardless of any investigation made or information possessed by the Lender and shall
be cumulative and in addition to any other warranties, representations, covenants and agreements which Borrower now or hereafter shall give, or cause to be given, to the Lender. 
 3.3 Subsidiaries. Borrower has no subsidiaries other than as previously specifically consented to in writing by the Lender, if any, and Borrower has never consolidated, merged or acquired
substantially all of the assets of any other Person other than as previously specifically consented to in writing by the Lender, if any. 
 3.4
Corporate Records. Borrower’s corporate charter, articles or certificate of organization or incorporation and all amendments thereto have been duly filed and are in proper order. All outstanding capital stock issued by Borrower was and
is properly issued and all books and records of Borrower, including but not limited to its minute books, bylaws and books of account, are accurate and up to date and will be so maintained. 
 3.5 Title to Properties; Absence of Liens. Borrower has good and clear record and marketable title to all of its properties and assets, and all of its properties and assets including the Collateral
are free and clear of all mortgages, liens, pledges, charges, encumbrances and setoffs, other than the security interest therein granted to the Lender and those mortgages, deeds of trust, leases of personal property and security interests previously
specifically consented to in writing by the Lender. 
 3.6 Places of Business. Borrower’s chief executive office is correctly stated
in the preamble to this Agreement, and Borrower shall, during the term of this Agreement, keep the Lender currently and 

  
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accurately informed in writing of each of its other places of business, and shall not change the location of such chief executive office or open or close, move or change any existing or new place
of business without giving the Lender at least thirty (30) days prior written notice thereof. 
 3.7 Valid Obligations. The
execution, delivery and performance of the Loan Documents have been duly authorized by all necessary corporate action and each represents a legal, valid and binding obligation of Borrower and is fully enforceable according to its terms, except as
limited by laws relating to the enforcement of creditors’ rights. 
 3.8 Fictitious Trade Styles. There are no fictitious trade
styles, fictitious trade names, assumed business names or trade names (defined herein as “Trade Name”) used by Borrower in connection with its business operations. Borrower shall notify the Lender not less than 30 days prior to effecting
any change in the matters described herein or prior to using any other Trade Name at any future date, indicating the Trade Name and State(s) of its use. 
 3.9 Conflicts. There is no provision in Borrower’s organizational or charter documents, if any, or in any indenture, contract or agreement to which Borrower is a party which prohibits, limits
or restricts the execution, delivery or performance of the Loan Documents. 
 3.10 Governmental Approvals. The execution, delivery and
performance of the Loan Documents does not require any approval of or filing with any governmental agency or authority, other than disclosure filings made by Borrower to the Securities and Exchange Commission in the ordinary course of its business.

 3.11 Litigation, etc. Except as otherwise disclosed to Lender in writing, there are no actions, claims or proceedings pending or to
the knowledge of Borrower threatened against Borrower which might materially adversely affect the ability of Borrower to conduct its business or to pay or perform the Obligations. 
 3.12 Accounts and Contract Rights. All accounts arise out of legally enforceable and existing contracts, and represent unconditional and undisputed bona fide indebtedness by a Debtor, and are not
and will not be subject to any discount (except such cash or trade discount as may be shown on any invoice, contract or other writing delivered to the Lender). No contract right, account, general intangible or chattel paper is or will be represented
by any note or other instrument, and no contract right, account or general intangible is, or will be represented by any conditional or installment sales obligation or other chattel paper, except such instruments or chattel paper as have been or
immediately upon receipt by Borrower will be delivered to the Lender (duly endorsed or assigned), such delivery, in the case of chattel paper, to include all executed copies except those in the possession of the installment buyer and any security
for or guaranty of any of the Collateral shall be delivered to the Lender immediately upon receipt thereof by Borrower, with such assignments and endorsements thereof as the Lender may request. 

3.13 Title to Collateral. At the date hereof Borrower is (and as to Collateral that Borrower may acquire after the date hereof, will be) the
lawful owner of the Collateral, and the Collateral and each item thereof is, will be and shall continue to be free of all restrictions, liens, encumbrances or other rights, title or interests (other than the security interest therein granted to the
Lender), credits, defenses, recoupments, set-offs or counterclaims whatsoever. Borrower has and will have full power and authority to grant to the Lender a security interest in the Collateral and Borrower has not transferred, assigned, sold,
pledged, encumbered, subjected to lien or granted any security interest in, and will not transfer, assign, sell (except sales or other dispositions in the ordinary course of business in respect to inventory as expressly permitted in this Agreement),
pledge, encumber, subject to lien or grant any security interest in any of the Collateral (or any of Borrower’s right, title or interest therein), to any Person other than the Lender. The Collateral is and will be valid and genuine in all
respects. Borrower will warrant and defend the Lender’s right to and interest in the Collateral against all claims and demands of all Persons whatsoever. 
 3.14 Location of Collateral. Except for sale, processing, use, consumption or other disposition in the ordinary course of business, Borrower will keep all inventory and equipment only at locations
specified in 

  
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this Agreement or specified to the Lender in writing. Borrower shall, during the term of this Agreement, keep its records concerning the Collateral, including originals of all chattel paper, at
the address set for in this Agreement, and shall keep the Lender currently and accurately informed in writing of each location where Borrower’s records relating to its accounts and contract rights, respectively, are kept, and shall not remove
such records or any of them to another location without giving the Lender at least thirty (30) days prior written notice thereof. 
 3.15
Third Parties. The Lender shall not be deemed to have assumed any liability or responsibility to Borrower or any third Person for the correctness, validity or genuineness of any instruments or documents that may be released or endorsed to
Borrower by the Lender (which shall automatically be deemed to be without recourse to the Lender in any event) or for the existence, character, quantity, quality, condition, value or delivery of any goods purporting to be represented by any such
documents; and the Lender, by accepting such security interest in the Collateral, or by releasing any Collateral to Borrower, shall not be deemed to have assumed any obligation or liability to any supplier or Debtor or to any other third party, and
Borrower agrees to indemnify and defend the Lender and hold it harmless in respect to any claim or proceeding arising out of any matter referred to in this paragraph. 
 3.16 Payment of Accounts. Each account or other item of Collateral, other than inventory and equipment, will be paid in full on or before the date shown as its due date in the schedule of
Collateral, in the copy of the invoice(s) relating to the account or other Collateral or in contracts relating thereto. Upon any suspension of business, assignment or trust mortgage for the benefit of creditors, dissolution, petition in receivership
or under any chapter of the Bankruptcy Code as amended from time to time by or against any Debtor, any Debtor becoming insolvent or unable to pay its debts as they mature or any other act of the same or different nature amounting to a business
failure, Borrower will immediately notify the Lender thereof. 
 3.17 Taxes. To the best of Borrower’s knowledge, Borrower has filed
all Federal, state and other tax returns required to be filed (except for such returns for which current and valid extensions have been filed), and all taxes, assessments and other governmental charges due from Borrower have been fully paid.
Borrower has established on its books reserves adequate for the payment of all Federal, state and other tax liabilities (if any). 
 3.18 Use
of Proceeds. No portion of any loan is to be used for (i) the purpose of purchasing or carrying any “margin security” or “margin stock” as such terms are used in Regulations U and X of the Board of Governors of the
Federal Reserve System, 12 C.F.R. 221 and 224 or (ii) primarily personal, family or household purposes. The Collateral is not used or acquired primarily for personal, family or household purposes. 

3.19 Environmental. As of the date hereof neither Borrower nor any of Borrower’s agents, employees or independent contractors (1) have
caused or are aware of a release or threat of release of Hazardous Materials (as defined herein) on any of the premises or personal property owned or controlled by Borrower (“Controlled Property”) or any property abutting Controlled
Property (“Abutting Property”), which could give rise to liability under any Environmental Law (as defined herein) or any other Federal, state or local law, rule or regulation; (2) have arranged for the transport of or transported any
Hazardous Materials in a manner as to violate, or result in potential liabilities under, any Environmental Law; (3) have received any notice, order or demand from the Environmental Protection Agency or any other Federal, state or local agency
under any Environmental Law; (4) have incurred any liability under any Environmental Law in connection with the mismanagement, improper disposal or release of Hazardous Materials; or (5) are aware of any inspection or investigation of any
Controlled Property or Abutting Property by any Federal, state or local agency for possible violations of any Environmental Law. 
 To the best of Borrower’s knowledge, neither Borrower, nor any prior owner or tenant of any Controlled Property, committed or omitted any act which caused the release of Hazardous Materials on such
Controlled Property which could give rise to a lien thereon by any Federal, state or local government. No notice or statement of claim or lien affecting any Controlled Property has been recorded

  
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or filed in any public records by any Federal, state or local government for costs, penalties, fines or other charges as to such property. All notices, permits, licenses or similar
authorizations, if any, required to be obtained or filed in connection with the ownership, operation, or use of the Controlled Property, including without limitation, the past or present generation, treatment, storage, disposal or release of any
Hazardous Materials into the environment, have been duly obtained or filed. 
 Borrower agrees to indemnify and hold the Lender
harmless from all liability, loss, cost, damage and expense, including attorney fees and costs of litigation, arising from any and all of its violations of any Environmental Law (including those arising from any lien by any Federal, state or local
government arising from the presence of Hazardous Materials) or from the presence of Hazardous Materials located on or emanating from any Controlled Property or Abutting Property whether existing or not existing and whether known or unknown at the
time of the execution hereof and regardless of whether or not caused by, or within the control of Borrower. Borrower further agrees to reimburse Lender upon demand for any costs incurred by Lender in connection with the foregoing. Borrower agrees
that its obligations hereunder shall be continuous and shall survive the repayment of all debts to Lender and shall continue so long as a valid claim may be lawfully asserted against the Lender. Borrower agrees to conduct its operations and keep and
maintain all of its property in compliance with all applicable Environmental Laws and, upon the written request of the Lender, Borrower shall submit to the Lender, at Borrower’s sole cost and expense, at reasonable intervals, a report providing
the status of any environmental, health or safety compliance, hazard or liability. 
 The term “Hazardous Materials”
includes but is not limited to any and all substances (whether solid, liquid or gas) defined, listed, or otherwise classified as pollutants, hazardous wastes, hazardous substances, hazardous materials, extremely hazardous wastes, or words of similar
meaning or regulatory effect under any present or future Environmental Law or that may have a negative impact on human health or the environment, including but not limited to petroleum and petroleum products, asbestos and asbestos-containing
materials, polychlorinated biphenyls, lead, radon, radioactive materials, flammables and explosives. 
 The term
“Environmental Law” means any present and future Federal, state and local laws, statutes, ordinances, rules, regulations and the like, as well as common law, relating to protection of human health or the environment, relating to Hazardous
Materials, relating to liability for or costs of remediation or prevention of releases of Hazardous Materials or relating to liability for or costs of other actual or threatened danger to human health or the environment. The term “Environmental
Law” includes, but is not limited to, the following statutes, as amended, any successor thereto, and any regulations promulgated pursuant thereto, and any state or local statutes, ordinances, rules, regulations and the like addressing similar
issues: the Comprehensive Environmental Response, Compensation and Liability Act; the Emergency Planning and Community Right-to-Know Act; the Hazardous Materials Transportation Act; the Resource Conservation and Recovery Act (including but not
limited to Subtitle I relating to underground storage tanks); the Solid Waste Disposal Act; the Clean Water Act; the Clean Air Act; the Toxic Substances Control Act; the Safe Drinking Water Act; the Occupational Safety and Health Act; the Federal
Water Pollution Control Act; the Federal Insecticide, Fungicide and Rodenticide Act; the Endangered Species Act; the National Environmental Policy Act; and the River and Harbors Appropriation Act. 

4.        COVENANTS 
 4.1 Payments and Performance. Borrower will duly and punctually pay all Obligations becoming due to the Lender and will duly and punctually perform all Obligations on its part to be done or
performed under this Agreement. 
 4.2 Books and Records; Inspection. Borrower will at all times keep proper books of account in which
full, true and correct entries will be made of its transactions in accordance with generally accepted accounting principles, consistently applied and which are, in the opinion of a Certified Public Accountant acceptable to Lender, adequate to
determine fairly the financial condition and the results of operations of Borrower. Borrower will at all reasonable times make its books and records available in its offices for 

  
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inspection, examination and duplication by the Lender and the Lender’s representatives and will permit inspection of the Collateral and all of its properties by the Lender and the
Lender’s representatives. Borrower will from time to time furnish the Lender with such information and statements as the Lender may request in its sole discretion with respect to the Obligations or the Lender’s security interest in the
Collateral. Borrower shall, during the term of this Agreement, keep the Lender currently and accurately informed in writing of each location where Borrower’s records relating to its accounts and contract rights are kept, and shall not remove
such records to another location without giving the Lender at least thirty (30) days prior written notice thereof. 
 4.3 Financial
Statements of Guidance Software, Inc. Guidance Software, Inc. will deliver or cause to be delivered to Lender in form and detail satisfactory to Lender: 
  

	 	(a)	Not later than 90 days after the end of Guidance Software, Inc.’s fiscal year, a copy of the annual audited financial report of Guidance Software, Inc. for such
year, prepared by a firm of certified public accountants acceptable to Lender and accompanied by an unqualified opinion of such firm. 

  

	 	(b)	Not later than 45 days after the end of each quarter, a copy of Guidance Software, Inc.’s financial statement as of the end of such period.

 4.4 Additional Financial Information. Borrower will furnish to Lender: 

 

	 	(a)	from time to time, such financial data and information about Borrower as Lender may reasonably request; and 

 

	 	(b)	any financial data and information about any guarantors of the Obligations as Lender may reasonably request. 

4.5 Conduct of Business. Borrower will maintain its existence in good standing and comply with all laws and regulations of the United States and
of any state or states thereof and of any political subdivision thereof, and of any governmental authority which may be applicable to it or to its business; provided that this covenant shall not apply to any tax, assessment or charge which is being
contested in good faith and with respect to which reserves have been established and are being maintained. 
 4.6 Notice to Debtors.
Borrower agrees, at the request of the Lender, to notify all or any of the Debtors in writing of the Lender’s security interest in the Collateral in whatever manner the Lender requests and, hereby authorizes the Lender to notify all or any of
the Debtors of the Lender’s security interest in Borrower’s accounts at Borrower’s expense. 
 4.7 Contact with
Accountant. Borrower hereby authorizes the Lender to directly contact and communicate with any accountant employed by Borrower in connection with the review and/or maintenance of Borrower’s books and records or preparation of any financial
reports delivered by or at the request of Borrower to Lender. 
 4.8 Operating and Deposit Accounts. Borrower shall maintain its primary
business depository relationship with the Lender, including general, operating and administrative deposit accounts and cash management services. 
 4.9 Taxes. Borrower will promptly pay all real and personal property taxes, assessments and charges and all franchise, income, unemployment, retirement benefits, withholding, sales and other taxes
assessed against it or payable by it before delinquent; provided that this covenant shall not apply to any tax assessment or charge which is being contested in good faith and with respect to which reserves have been established and are being
maintained. The Lender may, at its option, from time to time, discharge any taxes, liens or encumbrances of any of the Collateral, and Borrower will pay to the Lender on demand or the Lender in its sole discretion may charge to Borrower all amounts
so paid or incurred by it. 

  
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 4.10 Maintenance. Borrower will keep and maintain the Collateral and its other properties, if any,
in good repair, working order and condition. Borrower will immediately notify the Lender of any loss or damage to or any occurrence which would adversely affect the value of any Collateral. The Lender may, at its option, from time to time, take any
other action that the Lender may deem proper to repair, maintain or preserve any of the Collateral, and Borrower will pay to the Lender on demand or the Lender in its sole discretion may charge to Borrower all amounts so paid or incurred by it.

 4.11 Insurance. Borrower will maintain in force property and casualty insurance on all Collateral and any other property of Borrower,
if any, against risks customarily insured against by companies engaged in businesses similar to that of Borrower containing such terms and written by such companies as may be satisfactory to the Lender, such insurance to be payable to the Lender as
its interest may appear in the event of loss and to name the Lender as insured pursuant to a standard loss payee clause; no loss shall be adjusted thereunder without the Lender’s approval; and all such policies shall provide that they may not
be canceled without first giving at least thirty (30) days written notice of cancellation to the Lender. In the event that Borrower fails to provide evidence of such insurance, the Lender may, at its option, secure such insurance and charge the
cost thereof to Borrower. At the option of the Lender, all insurance proceeds received from any loss or damage to any of the Collateral shall be applied either to the replacement or repair thereof or as a payment on account of the Obligations. From
and after the occurrence of an Event of Default, the Lender is authorized to cancel any insurance maintained hereunder and apply any returned or unearned premiums, all of which are hereby assigned to the Lender, as a payment on account of the
Obligations. 
 4.12 Notification of Default. Immediately upon becoming aware of the existence of any condition or event which
constitutes an Event of Default, or any condition or event which would upon notice or lapse of time, or both, constitute an Event of Default, Borrower shall give Lender written notice thereof specifying the nature and duration thereof and the action
being or proposed to be taken with respect thereto. 
 4.13 Material Notices. Borrower shall give the Lender prompt written notice of any
and all (i) litigation, arbitration or administrative proceedings to which Borrower is a party which materially threatens the Collateral; (ii) other matters which have resulted in, or might result in a material adverse change in the
Collateral or the financial condition or business operations of Borrower, and (iii) any enforcement, cleanup, removal or other governmental or regulatory actions instituted, completed or threatened against Borrower or any of its properties.

 4.14 Pension Plans. With respect to any pension or benefit plan maintained by Borrower, or to which Borrower contributes
(“Plan”), the benefits under which are guarantied, in whole or in part, by the Pension Benefit Guaranty Corporation created by the Employee Retirement Income Security Act of 1974, P.L. 93-406, as amended (“ERISA”) or any
governmental authority succeeding to any or all of the functions of the Pension Benefit Guaranty Corporation (“Pension Benefit Guaranty Corporation”), Borrower will (a) fund each Plan as required by the provisions of Section 412
of the Internal Revenue Code of 1986, as amended; (b) cause each Plan to pay all benefits when due; (c) furnish Lender (i) promptly with a copy of any notice of each Plan’s termination sent to the Pension Benefit Guaranty
Corporation (ii) no later than the date of submission to the Department of Labor or to the Internal Revenue Service, as the case may be, a copy of any request for waiver from the funding standards or extension of the amortization periods
required by Section 412 of the Internal Revenue Code of 1986, as amended and (iii) notice of any Reportable Event as such term is defined in ERISA; and (d) subscribe to any contingent liability insurance provided by the Pension
Benefit Guaranty Corporation to protect against employer liability upon termination of a guarantied pension plan, if available to Borrower. 

4.15 Definitions and/or Financial Covenants. The following Definitions will apply to this Agreement and Borrower will at all times or during or at
the end of any fiscal period (as applicable) comply with all of the financial covenants in this section, if any. 

  
 9 

	 	(a)	Definitions. 

 (i)
“Current Portion of Long-Term Debt” shall mean, for any period, the current portion of “Total Funded Indebtedness” required to be paid within twelve months 
 (ii) “Cash Flow” shall mean the sum of Net Income after tax and exclusive of extraordinary gains plus depreciation, amortization expense and stock compensation minus dividends, distributions and
repurchases of stock. 
 (iii) “Current Liabilities” shall mean current liabilities as in accordance with GAAP,
including any negative cash balance on Borrower’s financial statements. 
 (iv) “Earnings” shall mean earnings as
defined under GAAP. 
 (v) “EBITDA” shall mean, for any period, Earnings from continuing operations before payment of
federal, state and local income taxes, and stock compensation expense, plus Interest Expense, depreciation expense and amortization expense, in each case for such period, computed and calculated in accordance with GAAP. 

(vi) “GAAP” shall mean generally accepted accounting principles in effect from time to time in the United States. 

(vii) “Interest Expense” shall mean, for any period, ordinary, regular, recurring and continuing expenses for interest on all
borrowed money. 
 (viii) “Marketable Securities” shall mean stocks, bonds and mutual fund shares that can be readily
sold for cash on stock exchanges or over-the-counter markets. 
 (ix) “Net Income” shall mean, for any period, net
income (or net loss, expressed as a negative number) after taxes actually paid in cash or accrued and all expenses and other charges for such period, determined in accordance with GAAP. 

(x) “Permitted Liens” shall mean: (i) liens and security interests securing Total Funded Indebtedness owed by Borrowers to
the Lender; (ii) liens for taxes, assessments or similar charges not yet due; (iii) liens of materialmen, mechanics, warehousemen, or carriers or other like liens arising in the ordinary course of business and securing obligations which
are not yet delinquent; (iv) purchase money liens or purchase money security interests upon or in any property acquired or held by any of Borrowers in the ordinary course of business to secure Senior Funded Indebtedness outstanding on the date
hereof or permitted to be incurred herein; (v) liens and security interests which, as of the date hereof, have been disclosed to and approved by the Lender in writing; and (vi) those liens and security interests which in the aggregate
constitute an immaterial and insignificant monetary amount with respect to the net value of Borrower’s assets. 
 (xi)
“Senior Funded Indebtedness” shall mean, as of the date of determination thereof, all borrowed money as reflected in formally executed borrowing agreements by Borrower and disclosed the most recent financial statements in the form required
by this Agreement, if any, excluding all such borrowed money that has been subordinated to the satisfaction of Lender. 
 (xii)
“Total Funded Indebtedness” shall mean, as of the date of determination thereof, all borrowed money as reflected in the most recent financial statements in the form required by this Agreement, if any. 

 

	 	(b)	Minimum Cash and Securities. Borrower shall maintain unrestricted cash, and Marketable Securities in an amount of not less than $12,500,000.00, measured
at each fiscal quarter end. 

  
 10 

	 	(c)	Total Funded Debt to EBITDA. Borrower shall maintain a ratio of its Total Funded Indebtedness to EBITDA of not greater than 2.25 to 1.0 measured at the
end of each fiscal quarter with EBITDA based upon the immediately preceding three fiscal quarters and the current fiscal quarter just ended. 

  

	 	(d)	Cash Flow to Current Portion of Long-Term Debt. Borrower shall maintain a ratio of Cash Flow to Current Portion of Long-Term Debt of not less than 1.25 to
1.0, measured at the end of each fiscal quarter with Cash Flow based upon the immediately preceding three fiscal quarters and the current quarter just ended. 

 

	 	(e)	Year to Date Losses. Borrower shall not allow Year to Date Loss to exceed $5,000,000. For the purposes of this section, Year to Date Loss shall be the amount of
loss resulting from after tax net income, before stock compensation expense and non-cash charges related to amortization of intangibles (excluding the one-time acquisition related expense of $1,974,000 during the year of 2012 only), measured for the
fiscal year to date. 

 4.16 Limitations on Senior Funded Indebtedness. Borrower shall not, after the date hereof, create,
incur or assume, directly or indirectly, any additional Senior Funded Indebtedness other than (i) Senior Funded Indebtedness owed or to be owed to Lender and (ii) Senior Funded Indebtedness of up to $1,000,000.00 any one fiscal
year. 
 4.17 Mergers and Consolidation. Borrower shall not liquidate or dissolve, merge or consolidate with or into, or acquire any
other business organization, provided however, that Borrower may make business acquisitions but the cash consideration paid for such acquisitions shall not exceed the amount of $7,500,000.00 in any one fiscal year, or the total cumulative
amount for all acquisitions, regardless of payment method, shall not exceed $15,000,000.00 through Expiration Date. 
 4.18 Loans or
Advances. Borrower shall not make any loans or advances to any individual, partnership, corporation, limited liability company, trust, or other organization or Person, including without limitation its officers and employees; provided, however,
that Borrower may make advances to its employees, including its officers, with respect to expenses incurred or to be incurred by such employees in the ordinary course of business which expenses are reimbursable by Borrower; and provided further,
however, that Borrower may extend credit in the ordinary course of business in accordance with customary trade practices. 
 4.19
Investments. Borrower shall not make investments in, or advances to, any individual, partnership, corporation, limited liability company, trust or other organization or Person other than as previously specifically consented to in writing by
the Lender. Borrower will not purchase or otherwise invest in or hold securities, nonoperating real estate or other nonoperating assets or purchase all or substantially all the assets of any entity other than as previously specifically consented to
in writing by the Lender. 
 4.20 Sale of Assets. Borrower shall not sell, lease or otherwise dispose of any of its assets, except for
the sale of inventory in the ordinary course of business and except for the purpose of replacing machinery, equipment or other personal property which, as a consequence of wear, duplication or obsolescence, is no longer used or necessary in
Borrower’s business, provided that full, fair and reasonable consideration is received therefor; provided, however, in no event shall Borrower sell, lease or otherwise dispose of any equipment purchased with the proceeds of any loans made by
the Lender. 
 4.21 Liens and Encumbrances. Borrower shall not create, assume or permit to exist any security interest, encumbrance,
mortgage, deed of trust, or other lien (including, but not limited to, a lien of attachment, judgment or execution) affecting any of Borrower’s properties, or execute or allow to be filed any financing statement or continuation thereof
affecting any of such properties, except for Permitted Liens or as otherwise provided in this Agreement. 

  
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 4.22 Other Business. Borrower shall not engage in any business other than the business in which it
is currently engaged or a business reasonably allied thereto. 
 4.23 Change of Name, etc. Borrower shall not change its legal name or
the State or the type of its organization, without giving the Lender at least 30 days prior written notice thereof. 
 4.24 Compensation of
Employees. Borrower shall compensate its employees for services rendered at an hourly rate at least equal to the minimum hourly rate prescribed by any applicable federal or state law or regulation. 

4.25 Payment of Obligations and Taxes. Borrower shall make timely payment of all assessments and taxes and all of its liabilities and obligations
including, but not limited to, trade payables, unless the same are being contested in good faith by appropriate proceedings with the appropriate court or regulatory agency. For purposes hereof, Borrower’s issuance of a check, draft or similar
instrument without delivery to the intended payee shall not constitute payment. 
 4.26 Inventory. 

 

	 	(i)	Except as provided herein below, Borrower’s domestic inventory shall, at all times, be in Borrower’s physical possession, shall not be held by others on
consignment, sale on approval, or sale or return. 

  

	 	(ii)	Borrower shall keep correct and accurate records. 

  

	 	(iii)	All inventory shall be of good and merchantable quality, free from defects. 

 

	 	(iv)	The domestic inventory shall not at any time or times hereafter be stored with a bailee, warehouseman or similar party without the Lender’s prior written consent
and, in such event, Borrower will concurrently therewith cause any such bailee, warehouseman or similar party to issue and deliver to the Lender, in form acceptable to the Lender, warehouse receipts in the Lender’s name evidencing the storage
of inventory. 

  

	 	(v)	At any reasonable time and from time to time, allow Lender to have the right, upon demand, to inspect and examine inventory and to check and test the same as to
quality, quantity, value and condition and Borrower agrees to reimburse the Lender for the Lender’s reasonable costs and expenses in so doing. 

 4.27 Location and Maintenance of Equipment. 
  

	 	(i)	Borrower’s equipment (the “Equipment”) shall at all times be in Borrower’s physical possession and shall not be held for sale or lease.

  

	 	(ii)	Borrower shall not secrete, abandon or remove, or permit the removal of, the Equipment, or any part thereof, from Borrower’s physical possession or remove or
permit to be removed any accessories now or hereafter placed upon the Equipment. 

  

	 	(iii)	Upon the Lender’s demand, Borrower shall immediately provide the Lender with a complete and accurate description of the Equipment including, as applicable, the
make, model, identification number and serial number of each item of Equipment. In addition, Borrower shall immediately notify the Lender of the acquisition of any new or additional Equipment or the replacement of any existing Equipment and shall
supply the Lender with a complete description of any such additional or replacement Equipment. 

  

	 	(iv)	 Borrower shall, at Borrower’s sole cost and expense, keep and maintain the Equipment in a good state of repair and shall not destroy, misuse,
abuse, illegally use or be negligent in the 

  
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care of the Equipment or any part thereof. Borrower shall not remove, destroy, obliterate, change, cover, paint, deface or alter the name plates, serial numbers, labels or other distinguishing
numbers or identification marks placed upon the Equipment or any part thereof by or on behalf of the manufacturer, any dealer or rebuilder thereof, or the Lender. Borrower shall not be released from any liability to the Lender hereunder because of
any injury to or loss or destruction of the Equipment. Upon reasonable notice and at a reasonable time, Borrower shall allow the Lender and its representatives free access to and the right to inspect the Equipment at all times and shall comply with
the terms and conditions of any leases covering the real property on which the Equipment is located and any orders, ordinances, laws, regulations or rules of any federal, state or municipal agency or authority having jurisdiction of such real
property or the conduct of the business of the Persons having control or possession of the Equipment. 

  

	 	(v)	The Equipment is not now and shall not at any time hereafter be so affixed to the real property on which it is located as to become a fixture or a part thereof. The
Equipment is now and shall at all times hereafter be and remain personal property of Borrower. 

5.        DEFAULT 
 5.1 Default. “Event of Default” shall mean the occurrence of one or more of any of the following events: 
  

	 	(a)	default of any liability, obligation, covenant or undertaking of Borrower or any guarantor of the Obligations to the Lender, hereunder or otherwise, including, without
limitation, failure to pay in full and when due any installment of principal or default of Borrower or any guarantor of the Obligations under any other Loan Document or any other agreement with the Lender continuing for 5 days with respect to the
payment of interest, or continuing for 30 days with respect to any other default; 

  

	 	(b)	failure of Borrower or any guarantor of the Obligations to maintain aggregate collateral security value satisfactory to the Lender; 

 

	 	(c)	default of any material liability, obligation or undertaking of Borrower or any guarantor of the Obligations to any other party; 

 

	 	(d)	if any statement, representation or warranty heretofore, now or hereafter made by Borrower or any guarantor of the Obligations in connection with this Agreement or in
any supporting financial statement of Borrower or any guarantor of the Obligations shall be determined by the Lender to have been false or misleading in any material respect when made; 

 

	 	(e)	if Borrower or any guarantor of the Obligations is a corporation, trust, partnership or limited liability company, the liquidation, termination or dissolution of any
such organization, or the merger or consolidation of such organization into another entity, or Borrower ceasing to carry on actively its present business or the appointment of a receiver for its property; 

 

	 	(f)	the death of Borrower or any guarantor of the Obligations and, if Borrower or any guarantor of the Obligations is a partnership or limited liability company, the death
of any partner or member; 

  

	 	(g)	for a corporation, there shall occur a sale, transfer, disposition or encumbrance (whether voluntary or involuntary), or an agreement shall be entered into to do so,
with respect to more than 10% of the issued and outstanding capital stock of Borrower, except for capital stock contributions to Borrower Equity Incentive Plans previously approved by shareholders of Borrower; 

  
 13 

	 	(h)	for a general partnership, limited partnership, or limited liability partnership, there shall occur a change in any general partner or a change affecting the control of
Borrower; or for a limited liability company, there shall occur a change in any manager or member or a change affecting the control of Borrower; 

  

	 	(i)	Borrower or any guarantor shall: (i) become insolvent or be unable to pay its debts as they mature; (ii) make an assignment for the benefit of creditors or to
an agent authorized to liquidate any substantial amount of its properties and assets; (iii) file a voluntary petition in bankruptcy or seeking reorganization or to effect a plan or other arrangement with creditors; (iv) file an answer
admitting the material allegations of an involuntary petition relating to bankruptcy or reorganization or join in any such petition; (v) become or be adjudicated a bankrupt; (vi) apply for or consent to the appointment of, or consent that
an order be made, appointing any receiver, custodian or trustee, for itself or any of its properties, assets or businesses; or (vii) in an involuntary proceeding, any receiver, custodian or trustee shall have been appointed for all or
substantial part of Borrower’s or guarantor’s properties, assets or businesses and shall not be discharged within 30 days after the date of such appointment; 

 

	 	(j)	the service upon the Lender of a writ in which the Lender is named as trustee of Borrower or any guarantor of the Obligations; 

 

	 	(k)	a final, non-appealable judgment or judgments for the payment of money shall be rendered against Borrower or any guarantor of the Obligations, and any such judgment
shall remain unsatisfied and in effect for any period of sixty (60) consecutive days without a stay of execution except for judgments issued in the ordinary course of business not to exceed $500,000.00 in any fiscal year;

  

	 	(l)	any levy, lien (including mechanics lien), seizure, attachment, execution or similar process shall be issued or levied on any of the property of Borrower or any
guarantor of the Obligations relating to Collateral value greater than $500,000.00 in any fiscal year; 

  

	 	(m)	any subordination agreement or any other Loan Document shall be revoked or limited or its enforceability or validity shall be contested by any signatory thereto, by
operation of law, legal proceeding or otherwise; 

  

	 	(n)	the termination or revocation of any guaranty of the Obligations; or 

  

	 	(o)	the occurrence of such a material change in the condition or affairs (financial or otherwise) of Borrower or any guarantor of the Obligations, or the occurrence of any
other event or circumstance, such that the Lender, in its sole discretion, deems that it is insecure or that the prospects for timely or full payment or performance of any obligation of Borrower or any guarantor of the Obligations to the Lender has
been or may be impaired. 

 5.2 Acceleration. If an Event of Default shall occur, unless such Default is cured by Borrower
within thirty (30) days after its discovery, at the election of the Lender, all Obligations shall become immediately due and payable without notice or demand, except with respect to Obligations payable on DEMAND, which shall be due and payable
on DEMAND, whether or not an Event of Default has occurred. In addition, regardless of whether the Lender has declared all Obligations to be immediately due and payable, Lender may exercise any of action set forth below. 

The Lender is hereby authorized, at its election, after an Event of Default or after Demand, without any further demand or notice except
to such extent as notice may be required by applicable law, to take possession and/or sell or otherwise dispose of all or any of the Collateral at public or private sale; and the Lender may also exercise any and all other rights and remedies of a
secured party under the Code or which are otherwise accorded to it in equity or at law, all as Lender may determine, and such exercise of rights in compliance with the requirements of law will not be considered adversely to affect the

  
 14 

 
commercial reasonableness of any sale or other disposition of the Collateral. If notice of a sale or other action by the Lender is required by applicable law, unless the Collateral is perishable
or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Borrower agrees that thirty (30) days written notice to Borrower, or the shortest period of written notice permitted by such law, whichever is
smaller, shall be sufficient notice; and that to the extent permitted by law, the Lender, its officers, attorneys and agents may bid and become purchasers at any such sale, if public, and may purchase at any private sale any of the Collateral that
is of a type customarily sold on a recognized market or which is the subject of widely distributed standard price quotations. Any sale (public or private) shall be without warranty and free from any right of redemption, which Borrower shall waive
and release after default upon the Lender’s request therefor, and may be free of any warranties as to the Collateral if Lender shall so decide. No purchaser at any sale (public or private) shall be responsible for the application of the
purchase money. Any balance of the net proceeds of sale remaining after paying all Obligations of Borrower to the Lender shall be returned to such other party as may be legally entitled thereto; and if there is a deficiency, Borrower shall be
responsible for repayment of the same, with interest. Upon demand by the Lender, Borrower shall assemble the Collateral and make it available to the Lender at a place designated by the Lender which is reasonably convenient to the Lender and
Borrower. Borrower hereby acknowledges that the Lender has extended credit and other financial accommodations to Borrower upon reliance of Borrower’s granting the Lender the rights and remedies contained in this Agreement including without
limitation the right to take immediate possession of the Collateral upon the occurrence of an Event of Default or after DEMAND with respect to Obligations payable on DEMAND and Borrower hereby acknowledges that the Lender is entitled to equitable
and injunctive relief to enforce any of its rights and remedies hereunder or under the Code and Borrower hereby waives any defense to such equitable or injunctive relief based upon any allegation of the absence of irreparable harm to the Lender.

 The Lender shall not be required to marshal any present or future security for (including but not limited to this Agreement
and the Collateral subject to the security interest created hereby), or guarantees of, the Obligations or any of them, or to resort to such security or guarantees in any particular order; and all of its rights hereunder and in respect of such
securities and guaranties shall be cumulative and in addition to all other rights, however existing or arising. To the extent that it lawfully may do so, Borrower hereby agrees that it will not invoke and irrevocably waives the benefits of any law
relating to the marshaling of collateral which might cause delay in or impede the enforcement of the Lender’s rights under this Agreement or under any other instrument evidencing any of the Obligations or under which any of the Obligations is
outstanding or by which any of the Obligations is secured or guaranteed. Except as required by applicable law, the Lender shall have no duty as to the collection or protection of the Collateral or any income thereon, nor as to the preservation of
rights against prior parties, nor as to the preservation of any rights pertaining thereto beyond the safe custody thereof. 
 5.3 Cease
Extending Credit. The Lender may cease making advances or otherwise extending credit to or for the account of Borrower under this Agreement or under any other agreement now existing or hereafter entered into between Borrower and the Lender.

 5.4 Letters of Credit. The Lender may require Borrower to pay immediately to the Lender, for application against drawings under any
outstanding Letters of Credit, the outstanding principal amount of any such Letters of Credit, Any portion of the amount so paid to the Lender which is not applied to satisfy draws under any such Letters of Credit or any other obligations of
Borrower to the Lender shall be repaid to Borrower without interest. In addition, the Lender may require that Borrower remit to the Lender cash collateral in an amount equal to 110% of the aggregate undrawn amount of all outstanding Letters of
Credit at such time, such cash collateral to be held by the Lender in a cash collateral account on terms and conditions satisfactory to the Lender. 
 5.5 Termination. The Lender may terminate this Agreement as to any future obligation of the Lender without affecting Borrower’s obligations to the Lender or the Lender’s rights and
remedies under this Agreement or under any other document, instrument or agreement. 

  
 15 

 5.6 Application of Proceeds. All amounts received by the Lender as proceeds from the disposition or
liquidation of the Collateral shall be applied to Borrower’s indebtedness to the Lender as follows: first, to the costs and expenses of collection, enforcement, protection and preservation of the Lender’s lien in the Collateral, including
court costs and reasonable attorneys’ fees, whether or not suit is commenced by the Lender; next, to those costs and expenses incurred by the Lender in protecting, preserving, enforcing, collecting, liquidating, selling or disposing of the
Collateral; next, to the payment of accrued and unpaid interest on all of the Obligations; next, to the payment of the outstanding principal balance of the Obligations; and last, to the payment of any other indebtedness owed by Borrower to the
Lender. Any excess Collateral or excess proceeds existing after the disposition or liquidation of the Collateral will be returned or paid by the Lender to Borrower. 
 If any non-cash proceeds are received in connection with any sale of Collateral, the Lender shall not apply such non-cash proceeds to the Obligations unless and until such proceeds are converted to cash.

 5.7 Power of Attorney. Borrower hereby irrevocably constitutes and appoints the Lender as Borrower’s true and lawful attorney,
with full power of substitution, at the sole cost and expense of Borrower but for the sole benefit of the Lender, upon the occurrence of an Event of Default or after DEMAND with respect to Obligations payable on DEMAND, to the limited extent
necessary convert the Collateral into cash, including, without limitation, completing the manufacture or processing of work in process, and the sale (either public or private) of all or any portion or portions of the inventory and other Collateral;
to enforce collection of the Collateral, either in its own name or in the name of Borrower, including, without limitation, executing releases or waivers, compromising or settling with any Debtors and prosecuting, defending, compromising or releasing
any action relating to the Collateral; to receive, open and dispose of all mail addressed to Borrower and to take therefrom any remittances or proceeds of Collateral in which the Lender has a security interest; to notify Post Office authorities to
change the address for delivery of mail addressed to Borrower to such address as the Lender shall designate; to endorse the name of Borrower in favor of the Lender upon any and all checks, drafts, money orders, notes, acceptances or other
instruments of the same or different nature; to sign and endorse the name of Borrower on and to receive as secured party any of the Collateral, any invoices, freight or express receipts, or bills of lading, storage receipts, warehouse receipts, or
other documents of title of the same or different nature relating to the Collateral; to sign the name of Borrower on any notice of the Debtors or on verification of the Collateral; and to sign, if necessary, and file or record on behalf of Borrower
any financing or other statement in order to perfect or protect the Lender’s security interest. The Lender shall not be obliged to do any of the acts or exercise any of the powers hereinabove authorized, but if the Lender elects to do any such
act or exercise any such power, it shall not be accountable for more than it actually receives as a result of such exercise of power, and it shall not be responsible to Borrower except for its own gross negligence or willful misconduct. All powers
conferred upon the Lender by this Agreement, being coupled with an interest, shall be irrevocable so long as any Obligation of Borrower or any guarantor or surety to the Lender shall remain unpaid or the Lender is obligated under this Agreement to
extend any credit to Borrower. 
 5.8 Nonexclusive Remedies. All of the Lender’s rights and remedies not only under the provisions
of this Agreement but also under any other agreement or transaction shall be cumulative and not alternative or exclusive, and may be exercised by the Lender at such time or times and in such order of preference as the Lender in its sole discretion
may determine. No course of dealing and no delay or omission on the part of Lender in exercising any right hereunder shall operate as a waiver of such right or any other right and waiver on any one or more occasions shall not be construed as a bar
to or waiver of any right or remedy of Lender on any future occasion. 

6.        MISCELLANEOUS 
 6.1 Waivers. Borrower waives notice of intent to accelerate, notice of acceleration, notice of nonpayment, demand, presentment, protest or notice of protest of the Obligations, and all other
notices, consents to any renewals or extensions of time of payment thereof, and generally waives any and all suretyship defenses and defenses in the nature thereof. 

  
 16 

 6.2 Waiver of Homestead. To the maximum extent permitted under applicable law, Borrower hereby
waives and terminates any homestead rights and/or exemptions respecting any of its property under the provisions of any applicable homestead laws, including without limitation, California Code of Civil Procedure Sections 704-710 et seq. 

6.3 Deposit Collateral. Borrower hereby grants to the Lender a continuing lien and security interest in any and all deposits or other sums at any
time credited by or due from the Lender to Borrower and any cash, securities, instruments or other property of Borrower in the possession of the Lender, including all accounts Borrower holds jointly with others, whether for safekeeping or otherwise,
or in transit to or from the Lender (regardless of the reason the Lender had received the same or whether the Lender has conditionally released the same) as security for the full and punctual payment and performance of all of the liabilities and
obligations of Borrower to the Lender and such deposits and other sums may be applied or set off against such liabilities and obligations of Borrower to the Lender at any time, whether or not such are then due, whether or not demand has been made
and whether or not other collateral is then available to the Lender. 
 6.4 Disposal of Documents. All documents, schedules, invoices or
other papers received by the Lender from Borrower may be destroyed or disposed of six (6) months after receipt by the Lender. 
 6.5
Telephone Recording. Borrower agrees that the Lender may electronically record all telephone conversations between Borrower and the Lender with respect to any transaction and that any such recording may be submitted in evidence in any
arbitration or other legal proceeding. Such recording shall be deemed evidence as to the terms of any transaction in the event of a dispute. 

6.6 Indemnification. Borrower shall indemnify, defend and hold the Lender and its directors, officers, employees, agents and attorneys (each an
“Indemnitee”) harmless of and from any claim brought or threatened against any Indemnitee by Borrower, any guarantor or endorser of the Obligations, or any other Person (as well as from reasonable attorneys’ fees and expenses in
connection therewith) on account of the Lender’s relationship with Borrower, or any guarantor or endorser of the Obligations (each of which may be defended, compromised, settled or pursued by the Lender with counsel of the Lender’s
election, but at the expense of Borrower), except for any claim arising out of the negligence or misconduct of the Lender outside of customary practices observed by others in the business of Lender. The within indemnification shall survive payment
of the Obligations, and/or any termination, release or discharge executed by the Lender in favor of Borrower. 
 6.7 Fees. Borrower will
pay all of the Lender’s out-of-pocket expenses in connection with the preparation and negotiation of this Agreement. 
 6.8 Costs and
Expenses. In the event of Default Borrower shall pay to the Lender on demand any and all costs and expenses (including, without limitation, reasonable attorneys’ fees and disbursements, court costs, litigation and other expenses) incurred
or paid by the Lender in establishing, maintaining, protecting or enforcing any of the Lender’s rights or the Obligations, including, without limitation, any and all such costs and expenses incurred or paid by the Lender in defending the
Lender’s security interest in, title or right to the Collateral or in collecting or attempting to collect or enforcing or attempting to enforce payment of the Obligations. 
 6.9 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which shall constitute but one agreement. 

6.10 Severability. If any provision of this Agreement or portion of such provision or the application thereof to any Person or circumstance shall
to any extent be held invalid or unenforceable, the remainder of this Agreement (or the remainder of such provision) and the application thereof to other Persons or circumstances shall not be affected thereby. 

  
 17 

 6.11 Headings. The headings herein set forth are solely for the purpose of identification and have
no legal significance. 
 6.12 Conflicting Provisions. To the extent the provisions contained in this Agreement are inconsistent with
those contained in any other document, instrument or agreement executed pursuant hereto, the terms and provisions contained herein shall control. Otherwise, such provisions shall be considered cumulative. 

6.13 Complete Agreement. This Agreement and the other Loan Documents constitute the entire agreement and understanding between and among the
parties hereto relating to the subject matter hereof, and supersedes all prior proposals, negotiations, agreements and understandings among the parties hereto with respect to such subject matter. This Agreement may be amended only by an instrument
in writing signed by Borrower and Lender. 
 6.14 Accuracy of Financial Statements. All financial statements, information and other data
which may have been or which may hereafter be submitted by Borrower to the Lender are true, accurate and correct and have been or will be prepared in accordance with generally accepted accounting principles consistently applied and accurately
represent the financial condition or, as applicable, the other information disclosed therein. Since the most recent submission of such financial information or data to the Lender, Borrower represents and warrants that no material adverse change in
Borrower’s financial condition or operations has occurred which has not been fully disclosed to the Lender in writing. 
 6.15 Binding
Effect of Agreement. This Agreement shall be binding upon and inure to the benefit of the respective heirs, executors, administrators, legal representatives, successors and assigns of the parties hereto, and shall remain in full force and effect
(and the Lender shall be entitled to rely thereon) until released in writing by the Lender. The Lender may transfer and assign this Agreement and deliver the Collateral to the assignee, who shall thereupon have all of the rights of the Lender; and
the Lender shall then be relieved and discharged of any responsibility or liability with respect to this Agreement and the Collateral. Borrower may not assign or transfer any of its rights or obligations under this Agreement. Except as expressly
provided herein or in the other Loan Documents, nothing, expressed or implied, is intended to confer upon any party, other than the parties hereto, any rights, remedies, obligations or liabilities under or by reason of this Agreement or the other
Loan Documents. 
 6.16 Further Assurances. Borrower will from time to time execute and deliver to Lender such documents, and take or
cause to be taken, all such other or further action, as Lender may request in order to effect and confirm or vest more securely in Lender all rights contemplated by this Agreement and the other Loan Documents (including, without limitation, to
correct clerical errors) or to vest more fully in or assure to the Lender the security interest in the Collateral granted to the Lender by this Agreement or to comply with applicable statute or law and to facilitate the collection of the Collateral
(including, without limitation, the execution of stock transfer orders and stock powers, endorsement of promissory notes and instruments and notifications to obligors on the Collateral). To the extent permitted by applicable law, Borrower authorizes
the Lender to file financing statements, continuation statements or amendments, and any such financing statements, continuation statements or amendments may be filed at any time in any jurisdiction. Lender may at any time and from time to time file
financing statements, continuation statements and amendments thereto which contain any information required by the Code for the sufficiency or filing office acceptance of any financing statement, continuation statement or amendment, including
whether Borrower is an organization, the type of organization and any organization identification number issued to Borrower. Borrower agrees to furnish any such information to Lender promptly upon request. In addition, Borrower shall at any time and
from time to time take such steps as Lender may reasonably request for Lender (i) to obtain an acknowledgment, in form and substance satisfactory to Lender, of any bailee having possession of any of the Collateral that the bailee holds such
Collateral for Lender, (ii) to obtain “control” (as defined in the Code) of any Collateral comprised of deposit accounts, electronic chattel paper, letter of credit rights or investment property, with any agreements establishing
control to be in form and substance satisfactory to Lender, and (iii) otherwise to insure the continued perfection and priority of Lender’s security interest in any of the Collateral and the preservation of its rights therein. Borrower
hereby constitutes Lender its attorney-in-fact to execute, if necessary, and file all 

  
 18 

 
filings required or so requested for the foregoing purposes, all acts of such attorney being hereby ratified and confirmed; and such power, being coupled with an interest, shall be irrevocable
until this Agreement terminates in accordance with its terms, all Obligations are irrevocably paid in full and the Collateral is released. 

6.17 Terms of Agreement. This Agreement shall continue in full force and effect so long as any Obligations or obligation of Borrower to Lender
shall be outstanding, or the Lender shall have any obligation to extend any financial accommodation hereunder, and is supplementary to each and every other agreement between Borrower and Lender and shall not be so construed as to limit or otherwise
derogate from any of the rights or remedies of Lender or any of the liabilities, obligations or undertakings of Borrower under any such agreement, nor shall any contemporaneous or subsequent agreement between Borrower and the Lender be construed to
limit or otherwise derogate from any of the rights or remedies of Lender or any of the liabilities, obligations or undertakings of Borrower hereunder, unless such other agreement specifically refers to this Agreement and expressly so provides.

 6.18 Notices. Any notice under or pursuant to this Agreement shall be a signed writing or other authenticated record (within the
meaning of Article 9 of the Code). Any notices or other documents sent under or pursuant to this Agreement shall be deemed duly received and effective if delivered in hand to any officer of agent of Borrower or Lender, or if mailed by registered or
certified mail, return receipt requested, addressed to Borrower at 215 North Marengo Avenue, Pasadena, CA 91101 or Lender at the address set forth in the Loan Agreement or as any party may from time to time designate by written notice to the other
party. 
 6.19 Governing Law. This Agreement shall be governed by federal law applicable to the Lender and, to the extent not preempted
by federal law, the laws of the State of California without giving effect to the conflicts of laws principles thereof. 
 6.20
Reproductions. This Agreement and all documents which have been or may be hereinafter furnished by Borrower to the Lender may be reproduced by the Lender by any photographic, photostatic, microfilm, xerographic or similar process, and any
such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made in the regular course of business).

 6.21 Jurisdiction and Venue. Borrower irrevocably submits to the nonexclusive jurisdiction of any Federal or state court sitting in
California, over any suit, action or proceeding arising out of or relating to this Agreement. Borrower irrevocably waives, to the fullest extent it may effectively do so under applicable law, any objection it may now or hereafter have to the laying
of the venue of any such suit, action or proceeding brought in any such court and any claim that the same has been brought in an inconvenient forum. Borrower hereby consents to any and all process which may be served in any such suit, action or
proceeding, (i) by mailing a copy thereof by registered and certified mail, postage prepaid, return receipt requested, to Borrower’s address shown in this Agreement or as notified to the Lender and (ii) by serving the same upon
Borrower in any other manner otherwise permitted by law, and agrees that such service shall in every respect be deemed effective service upon Borrower. 
 6.22 Civil Code Section 2822. In the event that at any time, a surety is liable upon only a portion of Borrower’s obligations under the Loan Documents and Borrower provides partial
satisfaction of any such obligation(s), Borrower hereby waives any right it would otherwise have, under Section 2822 of the California Civil Code, to designate the portion of the obligations to be satisfied. The designation of the portion of
the obligation to be satisfied shall, to the extent not expressly made by the terms of the Loan Documents, be made by the Lender rather than Borrower. 
 6.23 Judicial Reference Provision. The parties elect to proceed under this Judicial Reference Provision. With the exception of the items specified below, any controversy, dispute or claim between
the parties relating to this Agreement or any other document, instrument or transaction between the parties (each, a Claim), will be resolved by a reference proceeding in California pursuant to Sections 638 et seq.

  
 19 

 
of the California Code of Civil Procedure, or their successor sections, which shall constitute the exclusive remedy for the resolution of any Claim, including whether the Claim is subject to
reference. Venue for the reference will be the Superior Court in the County where real property involved in the action, if any, is located, or in a County where venue is otherwise appropriate under law (the Court). The following matters shall not be
subject to reference: (i) nonjudicial foreclosure of any security interests in real or personal property, (ii) exercise of self-help remedies (including without limitation set-off), (iii) appointment of a receiver, and
(iv) temporary, provisional or ancillary remedies (including without limitation writs of attachment, writs of possession, temporary restraining orders or preliminary injunctions). The exercise of, or opposition to, any of the above does not
waive the right to a reference hereunder. 
 The referee shall be selected by agreement of the parties. If the parties do not
agree, upon request of any party a referee shall be selected by the Presiding Judge of the Court. The referee shall determine all issues in accordance with existing case law and statutory law of the State of California, including without limitation
the rules of evidence applicable to proceedings at law. The referee is empowered to enter equitable and legal relief, and rule on any motion which would be authorized in a court proceeding, including without limitation motions for summary judgment
or summary adjudication. The referee shall issue a decision, and pursuant to CCP §644 the referee’s decision shall be entered by the Court as a judgment or order in the same manner as if tried by the Court. The final judgment or order from
any decision or order entered by the referee shall be fully appealable as provided by law. The parties reserve the right to findings of fact, conclusions of law, a written statement of decision, and the right to move for a new trial or a different
judgment, which new trial if granted, will be a reference hereunder. AFTER CONSULTING (OR HAVING THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS CHOICE, EACH PARTY AGREES THAT ALL CLAIMS RESOLVED UNDER THIS REFERENCE PROVISION WILL BE DECIDED BY A
REFEREE AND NOT A JURY. 
 Executed as of July 12, 2012.  

 

			
	Borrower:
	Guidance Software, Inc.
		
	 By:
	 	 /s/ Victor Limongelli

		 	 Victor Limongelli, President and Chief Executive Officer

  

			
	Accepted: Bank of the West
		
	 By:
	 	 /s/ David Alterman

	 Name:
	 	David Alterman
	 Title:
	 	Senior Vice President

 1100 

  
 20Shopping Center Purchase and Sale Agreement

 Exhibit 10.48 
 SHOPPING CENTER PURCHASE AND SALE AGREEMENT 
 THIS SHOPPING CENTER
PURCHASE AND SALE AGREEMENT (“Agreement”) is entered into as of the Effective Date (defined below) by and between THE PHILLIPS EDISON GROUP LLC, an Ohio limited liability company (“Purchaser”), and CRP II – GLYNN PLACE,
LLC, a Delaware limited liability company (“Seller”). 
 W I T N E S S E T H: 

A. Seller is the owner of the Property (defined below). 
 B. Seller has agreed to sell and Purchaser has agreed to purchase the Property in accordance with the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of $10.00 and the mutual covenants and agreements of each party to the other hereinafter set forth, the
parties do hereby mutually covenant and agree as follows: 
 ARTICLE I 

DEFINED TERMS 
 The following terms shall have the meanings ascribed to them below when used in this Agreement: 
 1.1 Assignment and Assumption of Leases: an assignment and assumption of the Leases in the form of Exhibit 1.1 attached hereto and made a part hereof. 

1.2 Intentionally omitted. 
 1.3 Bill of Sale: a bill of sale in the form of Exhibit 1.3 attached hereto and made a part. 
 1.4 Broker: Cushman & Wakefield. 
 1.5 Closing: the
consummation of the transaction contemplated hereby. 
 1.6 Closing Date: the date on which Closing shall occur which
shall be a mutually agreeable date on or before April 30, 2012. Seller shall have the option to extend the Closing Date to no later than May 15, 2012 if required by its lender requirements in the defeasance of the outstanding loan on the
Property, and in order to exercise this option, Seller shall provide Purchaser with written notice of such extension no later than five (5) business days prior to the scheduled Closing Date. 

1.7 Closing Statement: a closing statement showing the items and amounts to be prorated between Purchaser and Seller hereunder.

 1.8 Contracts: the contracts relating to the Property as described on Exhibit 1.8 attached hereto and made a
part hereof. 
 1.9 Deed: a deed in the form of Exhibit 1.9 attached hereto and made a part hereof. 

1.10 Deposit: initially, $100,000.00; subsequent to the Inspection Period, an additional $100,000.00 shall be deposited by
Purchaser in escrow pursuant to and in accordance with the terms set 

  
 1 

 
forth below, thereby bringing the principal balance of the Deposit to $200,000.00; the Deposit shall include interest earned thereon, if any. 

1.11 Effective Date: the date on which the last of Purchaser or Seller executes and delivers this Agreement to the other party.

 1.12 Evaluation Materials: all third party materials, documents, reports, studies and information furnished to or
obtained by Purchaser concerning the Property other than the Seller’s Documents. 
 1.13 Inspection Period: the
period commencing on the later of the Effective Date or the date that Purchaser receives the Seller’s Documents listed in bold on Exhibit 1.26 and expiring at 5:00 pm Eastern Standard Time on the date 30 days thereafter. 

1.14 Inspections: site, appraisal and other inspection analyses and studies of the Property, but expressly excluding any invasive
testing of the Property such as, but not limited to, a so-called “phase II” environmental site assessment. 
 1.15
Leases: all leases, licenses, or other written permissions to occupy the Property. 
 1.16 List: OFAC’s
Specially Designated and Blocked Persons List. 
 1.17 OFAC: the Office of Foreign Asset Control of the Department of the
Treasury. 
 1.18 Order: the September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions with
Persons Who Commit, Threaten to Commit or Support Terrorism. 
 1.19 Permitted Exceptions: (i) easements, restrictions,
covenants and agreements of record including, but not limited to, those appearing in Schedule B-II of the Title Commitment not objected to by Purchaser in accordance with Section 4.2 below and those objected to by Purchaser but not removed by
Seller or insured over by the Title Company; (ii) the rights of tenants in possession under unrecorded Leases; (iii) zoning ordinances; and (iv) 2012 taxes which are a lien but not then due and payable. 

1.20 Property: collectively, Seller’s right, title and interest in and to the Real Estate, all fixtures, equipment and
personality owned by Seller and located on or about the Real Estate, the use of appurtenant easements, whether or not of record, strips and rights of way abutting, adjacent, contiguous, or adjoining the Real Estate, the Leases, all right, title and
interest of Seller in all assignable development and other rights and all documents, technical matters, trademarks, service marks, trade names, fictitious names, telephone and facsimile numbers, signs, email addresses and URLs, websites, post office
box numbers, and work product, each of which is used exclusively with respect to the Real Estate and the Real Property, excluding therefrom only personality owned by Tenants of the Real Property (a list of all such fixtures, equipment and
personality, if any, to be conveyed is attached hereto as Exhibit 1.20 and made a part hereof). 
 1.21 Purchase
Price $11,400,000.00. 
 1.22 Real Estate: a certain parcel of real property located in Brunswick, Georgia more
particularly described on Exhibit 1.22 attached hereto and made a part hereof. 
 1.23 Real Property: the Real
Estate and the improvements thereon commonly known as “Village at Glynn Place.” 

  
 2 

 1.24 Related Parties: all directors, officers, partners, members and employees of
Purchaser and Purchaser’s attorneys, lenders, accountants or other third parties engaged by Purchaser who need to know the Evaluation Materials to be provided to them for the purpose of evaluating a possible purchase of the Property.

 1.25 Rent Roll: the rent roll attached hereto as Exhibit 1.25 and made a part hereof. 

1.26 Seller’s Documents: the documents and materials listed on Exhibit 1.26 attached hereto and made a part hereof.

 1.27 Survey: a survey of the Property in such form as Purchaser may desire. 

1.28 Taxes: all real and personal property taxes and assessments, special or otherwise, payable in lump sums or installments which
constitute a lien against the Property, in whole or in part. 
 1.29 Tenants: tenants or occupants of the Property.

 1.30 Title Commitment: a commitment from Title Company, in its capacity as title insurer, to issue to Purchaser at the
Closing the Title Insurance Policy. 
 1.31 Title Company: Title Source, Inc. located in Troy, Michigan, as agent for
First American Title Insurance Company. 
 1.32 Title Insurance Policy: an owner’s title insurance policy in the
amount of the Purchase Price naming Purchaser as the insured thereunder subject only to the Permitted Exceptions. 
 ARTICLE II

 PURCHASE AND SALE; PURCHASE PRICE 

2.1 Subject to the terms and conditions herein contained, Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from
Seller, the Property for the Purchase Price. 
 2.2 The Purchase Price shall be paid by Purchaser to Seller at the Closing by
wire transfer of funds, subject to the adjustments and prorations set forth in the Closing Statement. 
 2.3 On or before five
(5) business days after the Effective Date, Purchaser shall deposit with the Title Company, in escrow, the initial $100,000.00 portion of the Deposit by wire transfer of U.S. dollars. The Deposit shall be held in escrow, in an interest bearing
account at a federally insured financial institution by Title Company pending the Closing and all interest earned thereon shall be deemed to be part of the Deposit. To the extent Purchaser shall not terminate this Agreement on or before the
conclusion of the Inspection Period, in accordance with its right to do so set forth herein, then, on or before the date five (5) business days after the conclusion of the Inspection Period, Purchaser shall deposit with the Title Company, in
escrow, the additional sum of $100,000.00 by wire transfer of U.S. dollars, the same to be held in the same fashion as the initial portion of the Deposit referred to above. At and upon Closing, the entire Deposit shall be applied against the
Purchase Price, or, if the transaction contemplated hereby is not consummated, delivered to Seller or Purchaser as provided herein. Any costs incurred by the Title Company with respect to insuring the Deposit shall be paid from the interest earned
thereon. 

  
 3 

 ARTICLE III 
 INSPECTION OF PROPERTY; LOAN ASSUMPTION 
 3.1 Within three
(3) business days after the Effective Date, Seller shall deliver the Seller’s Documents to Purchaser, in either paper or electronic form. Seller makes no warranty or representation of any kind with respect to any of the Seller’s
Documents prepared by third parties, including, but not limited to, their accuracy or whether or not the same are complete. To the best of Seller’s Knowledge (as defined below) without due inquiry or investigation or any due diligence, Seller
represents and warrants that all of the Seller’s Documents which were prepared by Seller itself or any of its employees internally are accurate in all material respects. In the event of the termination of this Agreement, Purchaser shall
promptly thereafter at Seller’s request destroy all copies of Seller’s Documents in its possession, however stored or maintained, and Purchaser shall cause all of the Related Parties to whom were delivered (in whatever format) any of
Seller’s Documents likewise to destroy the same promptly after termination. This sentence shall survive termination of this Agreement. 
 3.2 Purchaser shall not interfere with the operation of the Property during the conduct of the Inspections. Purchaser hereby covenants to conduct a Phase I environmental site assessment of the Real
Property. Purchaser shall not conduct a Phase II environmental site assessment or any other form of invasive testing or sampling without the prior written consent of Seller, which consent shall be at Seller’s sole discretion. Prior to
entering upon the Property to perform any such intrusive tests, Purchaser will notify Seller in writing of its intent to do so as well as of any proposed testing, boring, sampling or any other inspection procedures (collectively, the
“Inspection Procedures”) that Purchaser desires to perform on the Property; provided, however, that Purchaser will conduct the Inspection Procedures solely in accordance with the procedures that have been approved by Seller, which approval
shall not be unreasonably withheld. If Seller objects to the Inspection Procedures proposed by Purchaser, Purchaser will revise the Inspection Procedures as may be necessary in order to obtain Seller’s approval thereof. If Seller does not
object to the Inspection Procedures within five (5) business days after receipt of written notice from Purchaser, Seller will be deemed to have not approved of the Inspection Procedures. Purchaser will schedule the Inspection Procedures at such
times as Seller’s representative(s) is reasonably available to observe such Inspection Procedures. Purchaser will not initiate contact with local, state or federal environmental agencies, except through Seller. The Inspections may be conducted
by Purchaser or any designee of Purchaser, including, without limitation, engineers, accountants, architects and Purchaser’s employees, during normal business hours and upon reasonable notice to Seller or its designated agents, so long as
Purchaser does not interfere with the Tenants’ use of the Property. Purchaser may conduct interviews with any of the Tenants so long as reasonable prior notice is given to Seller and, to the extent Seller so desires, a representative of Seller
is present. 
 3.3 Purchaser shall have the right at any time prior to the end of the Inspection Period to terminate this
Agreement, for any reason or no reason at all, upon notice to Seller, in which event (i) this Agreement shall terminate and be of no further force or effect, (ii) the Deposit shall be returned to Purchaser, and (iii) neither party
shall have any further liability or obligation hereunder. If Purchaser notifies Seller in writing prior to the end of the Inspection Period that Purchaser is satisfied with or waives satisfaction of the Inspections, the parties shall proceed to
Closing, subject to and in accordance with the balance of the terms of this Agreement, and the entirety of the Deposit shall immediately become non-refundable to Purchaser and shall be paid to Seller in the event of any subsequent termination of
this Agreement, except as otherwise set forth in this Agreement. If such notice is not given, (i) this Agreement shall terminate and be of no further force or effect, (ii) the Deposit shall be returned to

  
 4 

 
Purchaser, (iii) neither party shall have any further liability or obligation hereunder, and (iv) upon Seller’s request, Purchaser shall deliver copies of the Evaluation Materials
to Seller. 
 3.4(a) During such periods of time as Purchaser is allowed to enter the Real Property pursuant to the terms of
this Agreement, Purchaser shall take all reasonable steps to protect the Real Property from damage by reason of its activities and, in the event any material damage is caused to the Real Property as a direct result of Purchaser or Purchaser’s
agents, Purchaser shall promptly restore or cause to be restored that portion of the Real Property so damaged to the condition existing prior to such damage. Purchaser agrees to indemnify, defend and hold Seller harmless from and against any and all
claims, losses, damages, costs and expenses (including, but not limited to, reasonable attorneys’ fees and costs) threatened or real, which were directly caused by Purchaser, including, but not limited to, personal injury (including death) and
property damage. 
 (b) Purchaser shall not permit any construction, mechanic’s, materialman’s or other lien to be
filed against any of the Real Property as the result of any work, labor, service or materials performed or furnished, by, for or to Purchaser, its employees, agents and/or contractors. If any such lien shall at any time be filed against the Real
Property, Purchaser shall, without expense to Seller, cause the same to be discharged of record by payment, bonds, order of a court of competent jurisdiction or otherwise, within 30 days of the filing thereof. Purchaser shall indemnify, defend and
hold harmless Seller against any and all claims, losses, damages, costs and expenses (including, but not limited to, attorneys’ fees and costs), arising out of the filing of any such liens and/or the failure of Purchaser to cause the discharge
thereof as same is provided herein. 
 (c) Purchaser shall procure and continue in force and effect from and after the date
Purchaser first desires to enter the Real Property, and continuing throughout the term of this Agreement, the following insurance coverages placed with a responsible insurance company licensed to do business in the State in which the Real Property
is located having an A.M. Best’s rating of “A-IX” or better: comprehensive general liability insurance with a combined single limit of not less than $1,000,000.00 per occurrence or commercial general liability insurance with limits of
not less than $1,000,000.00 per occurrence and $1,000,000.00 aggregate. To the extent such $1,000,000.00 limit of liability is shared with multiple properties, a per location aggregate shall be included. Seller and/or its designees shall be included
as additional insureds under such comprehensive general liability or commercial general liability coverage. Purchaser shall deliver to Seller a certificate of such insurance evidencing such coverage prior to the date Purchaser enters the Property.
Such insurance may not be cancelled or amended except upon 30 days’ prior written notice to Seller. The minimum levels of insurance coverage to be maintained by Purchaser hereunder shall not limit Purchaser’s liability under this Section.

 (d) This Section shall survive the Closing and/or the termination of this Agreement in all events. 

3.5 Notwithstanding anything contained herein to the contrary, Purchaser hereby expressly acknowledges and agrees that Purchaser has or
will have, prior to the end of the Inspection Period, thoroughly inspected and examined the Property. Purchaser hereby further acknowledges and agrees that Purchaser is relying solely upon its Inspections and that Purchaser is purchasing the
Property on an “AS IS”, “WHERE IS” and “WITH ALL FAULTS” basis, without representations, warranties or covenants, express or implied, of any kind or nature including, but not limited to, the zoning
of the Property, the tax consequences to Purchaser, the physical condition of the Real Property, environmental compliance, governmental approvals and compliance of the Real Property with applicable rules, regulations, ordinances and statutes, except
for the representations and warranties that are expressly made by Seller to Purchaser in Section 7.1(a) of this Agreement. The express intention of Purchaser and Seller is that Purchaser shall purchase the Property from Seller without any
representations, warranties or covenants, express or implied, from or of Seller, except for those representations and warranties that are expressly made by Seller to Purchaser in Section 7.1(a) of this Agreement. Purchaser hereby waives and
relinquishes all rights and privileges arising out of, or with respect to or in relation to, any representations, warranties or covenants, whether express or implied, which may have been made or given, or which may be deemed to have been made or
given, by Seller, except for those representations, warranties and covenants that are expressly 

  
 5 

 
made by Seller to Purchaser in Section 7.1(a) of this Agreement but such waiver and relinquishment shall only be to the extent provided in Article VII hereof. Without limiting the generality
of the foregoing, Purchaser hereby further acknowledges and agrees that warranties of merchantability and fitness for a particular purpose are excluded from the transactions contemplated hereby, as are any warranties arising from a course of dealing
or usage or trade, and that Seller has not represented or warranted, and Seller does not hereby represent or warrant, that the Real Property now or in the future will meet or comply with the requirements of any health, environmental or safety code
or regulation of the United States of America, the state of Georgia, or any other authority or jurisdiction, except for the representations and warranties that are expressly made by Seller to Purchaser in Section 7.1(a) of this Agreement.
Without limiting the generality of the foregoing, in the event Purchaser actually takes title to the Real Property, Purchaser hereby assumes all risk and agrees that Seller shall not be liable to Purchaser (or Purchaser’s successors and
assigns) for, and Purchaser hereby expressly waives any claims it may have now or in the future against Seller on account of, any special, direct, indirect, consequential or other damages resulting or arising from or relating to the ownership, use,
condition, location, maintenance, repair or operation of the Property. 
 3.6 Except to the extent that Purchaser is otherwise
expressly permitted to disclose information relating to the Seller’s Documents and the Evaluation Materials pursuant to the terms of this Agreement, Purchaser agrees to keep confidential Seller’s Documents and the Evaluation Materials.
None of Seller’s Documents or the Evaluation Materials shall be used or duplicated by Purchaser for any purpose other than Purchaser’s evaluation of a possible acquisition of the Property. Purchaser agrees to keep all of Seller’s
Documents and the Evaluation Materials strictly confidential; provided, however, that Seller’s Documents and the Evaluation Materials may be disclosed to the Related Parties. Purchaser shall inform the Related Parties in writing prior to
disclosure, of the confidential nature of the same and the Related Parties shall be directed to keep same in the strictest confidence and to use the same only for the purpose of evaluating a possible purchase by Purchaser. Purchaser will direct the
Related Parties to whom Seller’s Documents and/or the Evaluation Materials are made available to hold the same in strictest confidence and not to make any disclosures thereof and any such disclosures shall be deemed made by and be the
responsibility of Purchaser. Purchaser shall indemnify, defend, and hold Seller and each of the officers, trustees, partners, and members harmless from and against any and all claims, losses, damages, liabilities, costs and expenses (including
attorneys’ fees and costs) arising out of or resulting from the breach of any of the terms of this Section 3.6. This indemnity obligation shall survive the consummation of the sale contemplated hereunder or any earlier termination
of this Agreement. 
 3.7 Seller shall use good faith efforts to cause all of the Tenants to execute and deliver to Purchaser
estoppel certificates in the form attached hereto as Exhibit 3.7 and incorporated herein by reference, provided that, to the extent the applicable Leases call for forms of estoppel certificates which differ from the form attached as
Exhibit 3.7, the form required under such Leases shall be deemed to be the required form for purposes hereof. No later than five (5) calendar days after the Effective Date, Seller shall deliver the completed estoppel certificates to
Purchaser for review. If Purchaser does not provide written notice of its changes to the completed estoppel certificates at least two (2) days prior to the intended distribution date, the form and content of the proposed estoppel certificates
shall be deemed acceptable to Purchaser. In the event that, prior to the expiration of the date five (5) days before Closing, estoppel certificates in the form called for above (and not alleging any then ongoing default on Seller’s part
and confirming the material business terms of the applicable Lease) from Publix and Goodwill (collectively, the “Major Tenants”) and from Tenants occupying 75% of the balance of the occupied area of the Real Property have not been
delivered to Purchaser (the “Minimum Estoppel Threshold”), then Purchaser shall, at its option 

  
 6 

 
and as its sole and exclusive remedies, have the right to either: (a) terminate this Agreement upon written notice thereof to Seller at least one (1) day prior to the Closing Date, in
which event, Purchaser shall receive a refund of the Deposit and be relieved of any and all liability under this Agreement, except such liability under this Agreement expressly stated herein to survive such termination or (b) Purchaser may
elect to extend the Closing Date for an additional period of time not to exceed thirty (30) days upon written notice to Seller at least two (2) days prior to the original Closing Date in order to enable Seller to continue to pursue such
requisite estoppel certificates which will satisfy the Minimum Estoppel Threshold. If Seller is still not able to obtain the requisite estoppel certificates which will satisfy the Minimum Estoppel Threshold within such additional thirty
(30) day period, then either Seller or Purchaser shall have the right, at its respective sole option and as its respective sole and exclusive remedy, to terminate this Agreement upon notice thereof to the other party within five (5) days
after the expiration of such thirty (30) day period; in which event, Purchaser shall receive a refund of the Deposit, and thereafter neither Seller nor Purchaser will have any further liability, obligation or responsibility to the other under
this Agreement, except as otherwise expressly provided in this Agreement. If Purchaser elects to extend the Closing Date in accordance with the terms of this Section 3.7, then Closing will occur within five (5) days after Seller
delivers to Purchaser the requisite estoppel certificates that satisfy the Minimum Estoppel Threshold. Notwithstanding anything contained in this Agreement to the contrary, Seller shall not incur any liability whatsoever in connection with its
failure to obtain the requisite estoppel certificates that satisfy the Minimum Estoppel Threshold. Purchaser shall have the option to waive the Seller’s condition precedent to Closing set forth in this Section 3.7 by written notice
to Seller, whereupon such condition will be deemed satisfied. 
 In addition, Seller shall use good faith efforts to cause all
Tenants to execute and deliver to Purchaser subordination, non-disturbance and attornment agreements (collectively, “SNDAs”) in favor of Purchaser’s institutional first mortgage lender in the forms required under and/or on terms
stipulated in the respective Leases or if any of the respective Leases do not require a form or stipulate any specific terms, then in the form attached hereto as Exhibit 3.7. Purchaser shall provide the Seller with sufficient information to
complete the SNDAs so that they can be distributed to Tenants with the estoppel certificates as provided above. In the event that SNDAs from the Major Tenants and from any other Tenant with a recorded leasehold interest has not been executed and
returned to Purchaser on or before Closing, until the same are so returned, either party shall have the right to terminate this Agreement upon notice to the other, in which event Purchaser shall receive a refund of the Deposit and be relieved of any
and all liability under this Agreement, except such liability under this Agreement expressly stated herein to survive such termination. 
 ARTICLE IV 
 TITLE AND SURVEY MATTERS 

4.1 As evidence of title, Purchaser shall, at its sole cost and expense, obtain the Title Commitment and the Survey. 

4.2 Purchaser shall, within fifteen (15) days of the Effective Date at Purchaser’s sole cost and expense, cause the Title
Company to issue the Title Commitment. Within twenty (20) days after the Effective Date, Purchaser shall obtain, at Purchaser’s sole cost and expense, the Survey of the Property showing and certifying the exact location and legal
description of the Real Estate and meeting the minimum technical standards of the American Land Title Association, any applicable Georgia Board of Land Surveyors and State of Georgia Department of Professional Regulation, and the Survey shall be
certified to Purchaser, Purchaser’s counsel, the Title Company, Seller and Seller’s counsel, and prepared as of a date subsequent to the Effective Date. 

  
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 Title shall be deemed good, marketable and insurable only if the Title
Commitment allows for issuance of an Owner’s ALTA Policy effective as of the Closing Date at minimum promulgated risk rate premiums, without any guarantees and without any exceptions, standard or otherwise, other than the Permitted Exceptions.
Purchaser shall have until the fifth (5th) day prior
to the expiration of the Inspection Period within which to examine the Title Commitment and the Survey. If Purchaser finds the condition of title to be defective or unacceptable (i.e., any matters rendering title unmarketable which are not Permitted
Exceptions), Purchaser shall, no later than the fifth
(5th) day prior to the expiration of the Inspection
Period, notify Seller in writing specifying the defect(s); provided that if Purchaser fails to give Seller written notice of defect(s) on or before the fifth (5th) day prior to the expiration of the Inspection Period, the matters shown in the Title Commitment and/or the
Survey shall be deemed to be waived as title objections to closing the transaction contemplated under this Agreement and shall be deemed Permitted Exceptions hereunder. If Purchaser has given Seller timely written notice of a defect(s) and the
defect(s) renders the title other than as represented in this Agreement, Seller shall have the right, but not the obligation, within fifteen (15) days following the date that it receives written notice of such defect(s) to provide Purchaser
with a revised Title Commitment evidencing that such defect(s) has been remedied and/or that at Closing the Title Company shall insure over the same; provided, however, that it is expressly understood that Seller shall have no obligation whatsoever
to effect the cure of any such defect(s). Notwithstanding the foregoing, Seller shall, prior to or at Closing, remove by payment, bonding, providing title insurance from the Title Company or otherwise any lien against the Property which Seller or
Seller’s authorized agents or employees voluntarily and intentionally encumbered the Property with and is capable of removal by the payment of money, bonding or having the Title Company insure over. In the event that Seller does not eliminate
any such defect(s) as of the Closing Date, Purchaser shall have the option of either: (i) proceeding to Closing and accepting the condition of title to the Property “as is,” without reduction in the Purchase Price and without claim
against Seller therefor or (ii) terminating this Agreement in which event the Title Company shall return the Deposit and all interest earned thereon to Purchaser, whereupon both parties shall be released from all further obligations under this
Agreement, except those obligations which expressly survive termination. 
 Notwithstanding anything contained in this Agreement
to the contrary, Purchaser may, within five (5) days after the delivery to Purchaser of any updates to the Title Commitment, object to any matters identified therein, which were not identified in the original Title Commitment or any subsequent
update to the original Title Commitment that Purchaser received and Purchaser did not previously object to, and the procedure for Purchaser objecting to such matters shall be as set forth in this Section 4.2 above (other than with respect to
timing of (a) providing any objections to any such matters, which in such case shall be five (5) days, and (b) Seller’s right to cure such defect(s), which in such case shall be seven (7) days, subject to the terms of this
Section 4.2). 
 ARTICLE V 
 CLOSING 
 Subject to Purchaser’s rights to terminate this Agreement
pursuant to Article III, Article IV, Article VI, Article IX and Article X hereof, Closing shall occur on or before 3:00 pm eastern time on the Closing Date (i.e., Seller shall have received all closing proceeds due
Seller as of 3:00 pm eastern time on the Closing Date). At such time as the Title Company has all required executed documents and all required funds, and at such time as the Title Company is able and has committed to issue the Title Insurance
Policy, the Title Company shall disburse the funds in its possession in accordance with a Closing Statement executed by Seller and Purchaser, then record all documents that are to be recorded and deliver the Closing documents to the respective
parties thereto. At Closing, Seller shall deliver possession of the Real Property to Purchaser subject to (i) the Permitted Exceptions (ii) all easements, 

  
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restrictions, encumbrances, covenants and agreements and (iii) all liens or encumbrances securing liquidating amounts caused by parties other than Seller. 

ARTICLE VI 

DEFAULTS 

6.1 If Purchaser breaches this Agreement, then the Title Company shall deliver the Deposit to Seller as full compensation for its damages
and as its sole remedy, given that the parties acknowledge and agree that actual damages are impossible to ascertain with any certainty but the Deposit is a reasonable estimate thereof. Notwithstanding the foregoing, the indemnities made by
Purchaser set forth in Section 3.4, Section 3.6 and Article XI hereof shall not be deemed limited by the foregoing limitation on remedies. 
 6.2 If Seller fails to consummate Closing in accordance with its obligations under this Agreement, Purchaser shall, as its sole remedy, have the right: (a) to declare this Agreement terminated, in
which event the Deposit shall be promptly returned to Purchaser, or (b) to seek specific performance of Seller’s obligations hereunder. If Purchaser elects option (a), Seller shall reimburse Purchaser for Purchaser’s actual third
party out-of-pocket costs, expenses and reasonable attorneys’ fees that Purchaser has then incurred in connection with this Agreement (as supported by reasonably sufficient evidence of the same, including, but not limited to, paid in full
invoices), provided, however, that in no event shall Seller’s obligation to reimburse Purchaser for any such costs and expenses (including reasonable attorneys’ fees) exceed Fifty Thousand and no/100ths Dollars ($50,000.00) in the
aggregate. 
 6.3 Notwithstanding Section 6.2 above, in the event of Seller’s failure to consummate the Closing
in accordance with its obligations under this Agreement, Seller shall have the right, but not the obligation, to cure, or attempt to cure the default before Purchaser may exercise its rights granted under Section 6.2, provided Seller
commences to cure and completes such cure of such default within ten (10) business days after Seller’s receipt of written notice of such default from Purchaser. 
 6.4 Notwithstanding Section 6.1 above, in the event of a default by Purchaser, Purchaser shall have the right, but not the obligation, to cure, or attempt to cure the default before Seller may
exercise its rights granted under Section 6.1 above, provided, that Purchaser commences to cure and completes such cure of such default within ten (10) business days after Purchaser’s receipt of written notice of such default
from Seller (“Purchaser’s Cure Period”). Notwithstanding the foregoing, in no event shall (i) Purchaser’s Cure Period extend beyond the Closing Date, and (ii) Purchaser be entitled to notice and/or
Purchaser’s Cure Period for failing to (a) perform any of its monetary obligations under this Agreement, including, but not limited to, failing to deliver any portion of the Deposit to the Title Company when required to do so under this
Agreement or failing to deliver any other monies required by Purchaser to be deposited with or provided to Seller or the Title Company under this Agreement, (b) deposit the necessary funds and the closing documents required to be executed and
delivered by Purchaser under Article 8 below to Seller at Closing, or (c) authorize the consummation of the Closing in accordance with Purchaser’s obligations to do so under this Agreement following Purchaser’s receipt of notification
from the Title Company that all conditions to Closing have been satisfied and the Title Company’s request for authorization to proceed with the Closing. 
 ARTICLE VII 
 REPRESENTATIONS , WARRANTIES AND COVENANTS 

  
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 7.1(a) Seller represents and warrants as follows: 

(i) Rent Roll. The Rent Roll is a true and correct list, in all material respects, of the Leases presently in force and affecting
the Property and truly, accurately, fully and completely sets forth the information to be contained therein, including the lease term, rental, and common area and tax reimbursement information noted thereon. Except as set forth in the Rent Roll
and/or in the Seller’s Documents, the Leases have not been modified or amended. To Seller’s Knowledge (defined below) and except as otherwise provided in the Leases and the Seller’s Documents, all obligations of the lessor under the
Leases that have accrued to the Effective Date have been performed in all material respects and the Tenants have accepted lessor’s performance of such obligations. Except as otherwise set forth in the Leases, the Rent Roll and/or the
Seller’s Documents, to Seller’s Knowledge: (i) no Tenant has asserted in writing an offset right, defense or claim against rent or any other monetary obligation payable by it to Seller under its Lease that will remain applicable from
and after Closing; (ii) there have been no concessions, of any nature, granted to any Tenants that will remain applicable from and after Closing; (iii) no Tenant is in default in the performance of any its obligations required, or is in
default or in arrears in the payment of any sums due, under its Lease; (iv) neither base rent, nor regularly payable estimated tenant contributions or operating expenses, insurance premiums, real estate taxes, common area charges, and similar
or other “pass through” or non-base rent items including, without limitation, cost-of-living or so-called “CPI” or other such adjustments, nor any other item payable by any Tenant under any Lease has been heretofore prepaid for
more than one (1) month in advance; (v) no Tenant or any other party has asserted any written claim (other than for customary refund at the expiration of its Lease) which remains pending to all or any part of any security deposit; and
(vi) no Tenant has any right to renew or extend the term of its Lease or lease additional space in the Real Property. Except as otherwise set forth in the Leases and/or the Seller’s Documents, Seller has not received from any Tenant any
written notice of any Tenant’s intention to vacate its premises prior to the expiration of its Lease. For purposes of this Agreement, “Knowledge” or “knowledge” of Seller at any time, or words to that effect,
means the actual conscious knowledge, without due inquiry, investigation or any due diligence, of Deborah Moreyra, Seller’s Vice President and Director of Asset Management of the Property, at the time that this Agreement is executed; it being
understood that Deborah Moreyra shall not be personally liable for any inaccurate or incomplete statement or information. Seller represents and warrants that Deborah Moreyra has as much or more knowledge as any employee of Seller as to the leasing
and general operations of the Property. Seller represents and warrants that no commissions or other fees will remain payable after Closing to any person or entity on the rentals collected or to be collected under the Leases as of the Closing Date.

 (ii) Non-Foreign Person. Seller is not a foreign person within the meaning of Section 1445 of the Internal
Revenue Code. 
 (iii) Employees. Seller has no employees at the Real Property and is not a party to any collective
bargaining agreement, and neither Seller nor any of its affiliates (as described in Section 414(b), (c) and (m) of the Internal Revenue Code) has incurred any liability which could subject Purchaser or any asset to be acquired by
Purchaser pursuant to this Agreement to any lien or material liability under Sections 302(f), 4062, 4063, 4064, 4201 or 4301(b) of the Employee Retirement Income Security Act of 1974, as amended, or Section 401(a) (29) or 412 of the
Internal Revenue Code. 
 (iv) Authority. Seller has the right to execute this Agreement and to sell the Property
without obtaining the consent, approval, release, or signature of any other party. The signatories hereto on behalf of Seller have been duly authorized to execute and deliver this Agreement and to bind Seller hereto. Seller has full power to
consummate the transaction described in this Agreement, the execution and delivery of this Agreement by Seller and the consummation by Seller of the 

  
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transaction described herein has been duly and validly authorized by all necessary action and the observance of all required formalities on the part of Seller such that this Agreement constitutes
a valid and legally binding obligation of Seller, enforceable against Seller in accordance with its terms. 
 (v) No
Conflict. Neither the execution and delivery of this Agreement nor the consummation by Seller of the transaction contemplated hereby will (A) conflict with or result in a breach of or default under any of the terms, conditions or provisions
of any note, bond, mortgage, indenture, license, agreement or other instrument or obligation to which Seller is a party or by which it or the Property is bound, or (B) violate any order, injunction, decree, statute, rule or regulation
applicable to Seller or the Property. 
 (vi) PATRIOT Act. Neither Seller nor any person, group, entity or nation that
Seller is acting, directly or indirectly for, or on behalf of, is named by any Executive Order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or
Support Terrorism) or the United States Treasury Department as a terrorist, “Specially Designated National and Blocked Person,” or is otherwise a banned or blocked person, group, entity, or nation pursuant to any Law that is enforced or
administered by the Office of Foreign Assets Control, and Seller is not engaging in the transaction contemplated hereby, directly or indirectly, on behalf of, or instigating or facilitating the same, directly or indirectly, on behalf of, any such
person, group, entity or nation. Seller is not engaging in such transaction, directly or indirectly, in violation of any Laws relating to drug trafficking, money laundering or predicate crimes to money laundering. The investment of direct or
indirect equity owners in Seller is not prohibited by applicable law and neither the transaction contemplated hereby nor this Agreement is or will be in violation of applicable law. Seller has and will continue to implement procedures, and has
consistently and will continue consistently to apply those procedures, to ensure the foregoing representations and warranties remain true and correct at all times prior to Closing. 

(vii) No Leases or Contracts. Except for (A) any of the instruments, agreements or documents identified in the Title
Commitment, (B) the Leases, (C) the Contracts and/or (D) any of the other Seller’s Documents, Seller has not entered into any leases, contracts, arrangements, licenses, concessions, easements, or other agreements, including,
without limitation, service arrangements and employment agreements, either recorded or unrecorded, written or oral, affecting the Property or any portion thereof or the use thereof (individually, a “Property Agreement” and
collectively, the “Property Agreements”) that may not be terminated by Seller; provided, however, that Seller’s failure to disclose any Property Agreement which may be terminated by Seller on not more than thirty (30) days
notice without premium or penalty will not constitute a breach of this representation and warranty. 
 (viii) No
Default. Seller has not given or received written notice of any material default under any Lease or Contract, which is presently uncured. 
 (ix) No Use. No person or entity other than the Tenants have any right to use, occupy or possess all or any portion of the Property under an agreement, whether written or oral, with Seller.

 (x) In Place Insurance. Seller has in force and shall keep in force until Closing all of its existing insurance
policies covering the Property. No written notice has been given by any insurance company which has issued any of the insurance policies with respect to any portion of the Property, or by any board of fire underwriters (or other body exercising
similar functions) requesting the performance of any repairs, alterations or other work on the Property. 

  
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 (xi) Property Financials. The income and expense statement delivered by Seller to
Purchaser as part of the Seller’s Documents has been prepared and assembled in the ordinary course of business by Seller and, to Seller’s Knowledge, is true and accurate in all material respects as of the date of such statement.

 (xii) No Claims. To Seller’s Knowledge, no action, suit, claim, investigation or other proceeding is pending or
has been threatened in writing, before or by any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, that concerns or involves the Property in any material manner. 

(xiii) No Violation. Except as provided with the Seller’s Documents, Seller has not received written
notice from any governmental authority of any violation of any federal, state, county or municipal laws, ordinances, orders, regulations and requirements affecting the Property or any portion thereof (each, a “Governmental
Violation” and collectively, the “Governmental Violations”). If, after the Effective Date and prior to Closing, Seller receives written notice of a Governmental Violation, Seller shall promptly notify Purchaser of such
Governmental Violation; provided, however that if Seller notifies Purchaser of a Governmental Violation after the expiration of the Inspection Period but prior to Closing which will cost more than Two Hundred Fifty Thousand and no/100ths Dollars ($250,000.00) in the aggregate to repair, Purchaser shall
have the right, at Purchaser’s option and as Purchaser’s sole and exclusive remedy either to: (i) terminate this Agreement by written notice to Seller within five (5) days after the delivery of such written notice by Seller to
Purchaser; whereupon this Agreement shall terminate, the Deposit shall be returned to Purchaser and both parties shall be released of all further obligations hereunder except those specifically provided to survive termination, or (ii) accept
title to the Property subject to the disclosed Governmental Violation, without reduction in the Purchase Price and with Purchaser assuming all liability for the disclosed Governmental Violation following Closing. 

(xiv) No ROFR. Except as otherwise provided in the Leases and/or the Seller’s Documents, the Property is not the subject of
any unrecorded right of first refusal or option to purchase granted by Seller to any third party and, except for the right of Purchaser to acquire the Property pursuant to this Agreement, no other person, firm or entity has any right to acquire all
or any portion of the Property or any interest therein. 
 (xv) No Written Notice of any Hazardous Materials. Except as
set forth herein or in the Seller’s Documents, to Seller’s Knowledge, Seller has not received written notice of the existence of any Hazardous Materials (as defined below) located on the Property which are in violation of any applicable
Environmental Laws (as defined below). Seller represents and warrants that the Seller’s Documents contain or will contain all of the environmental reports and assessments with respect to the Real Property that Seller has in Seller’s
possession as of the Effective Date. “Hazardous Materials” shall mean (i) any toxic substance or hazardous waste, substance or related material, or any pollutant or contaminant; (ii) radon gas, asbestos in any form which
is or could become friable, urea formaldehyde foam insulation, transformers or other equipment which contain dielectric fluid containing levels of polychlorinated biphenyls in excess of federal, state or local safety guidelines, whichever are more
stringent; (iii) any substance, gas material or chemical which is or may be defined as or included in the definition of “hazardous substances”, “toxic substances”, “hazardous materials”, “hazardous
wastes” or words of similar import under any federal, state or local statute, law, code, or ordinance or under the regulations adopted or guidelines promulgated pursuant thereto, including, but not limited to, the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9061 et seq.; the Hazardous Materials Transportation Act, as amended, 49 U.S.C. § 1801, et seq.; the Resource Conservation and Recovery Act, as amended, 42 U.S.C.
§ 6901, et seq.; the Federal Water Pollution Control Act, as amended, 33 U.S.C. § 1251, et seq.; and all relevant State environmental statutes; and (iv) any other chemical, material, gas, or substance, the exposure to or release
of which is or 

  
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may be prohibited, limited or regulated by any governmental or quasi-governmental entity or authority that asserts or may assert jurisdiction over the Property or the operations or activity at
the Property, or any chemical, material, gas or substance that does or may pose a hazard to the health and/or safety of the occupants of the Property or the owners and/or occupants of property adjacent to or surrounding the Property.
“Environmental Laws” means all applicable present federal, state or local statutes, regulations, rules, ordinances, and codes and all applicable judicial and administrative and regulatory decrees, judgments and orders relating to
the protection of human health or the environment. 
 (xvi) No Bankruptcy. To Seller’s Knowledge, no bankruptcy,
insolvency, reorganization or similar action or proceeding, whether voluntary or involuntary, is pending, or threatened, against Seller. 
 (xvii) No Road Change. To Seller’s Knowledge, Seller has not received any written notice of (a) any federal, state or local plans to (1) change the highway or road system which abuts
the Property, (2) restrict or change access from any such highway or road to the Property, (3) change the grade of any such highway or road to the Property, or (4) close any driveway or curb cut which provides access to the Property
or (b) any pending or threatened condemnation of all or any portion of the Property or of any plans for improvements which might result in a special assessment against the Property. 

(xviii) No Additional Obligations. To Seller’s Knowledge, other than for normal and customary obligations incurred by Seller
in connection with the maintenance of the Property and as set forth in the Permitted Exceptions, no commitments relating to the Property have been made directly by Seller to any governmental authority, utility company, school board, church or other
religious body or any homeowner or homeowner’s association or any other organization, group or individual which would impose an obligation upon Purchaser or its successors or assigns to make any contribution or dedication of money or land or to
construct, install or maintain any improvements of a public or private nature on or off the Real Property; and Seller has not received written notice from any governmental authority, notifying Seller that any such governmental authority has imposed
any requirement that any developer of the Real Property pay directly or indirectly any special fees or contributions or incur any expenses or obligations in connection with the Real Property, except for any of the foregoing matters that may be
reflected in the Real Property’s real estate tax bills. 
 (xix) No Major Events. There shall not have occurred at
any time from and after the Effective Date to the Closing Date any of the following events nor shall Seller have obtained any information that any of the following events will most likely occur within 90 days after the Closing Date: (a) there
shall be a decrease in the net operating income of the Property by more than five percent (5%), (b) any Major Tenant closes its business operations on the Property with no intent to reopen, or files for protection against creditors under the
Federal bankruptcy laws, or (c) any Major Tenant notifies Seller in writing or announces in a press release that it is either: (1) terminating its Lease earlier than the expiration of its current lease term or (2) that it will be
vacating the premises it leases under its Lease but will continue to pay rent for the remaining term of its Lease. 
 (xx)
Leases. The Leases delivered to Purchaser by Seller with Seller’s Documents (or prior thereto) are all of the lease documents and/or occupancy agreements in Seller’s possession with respect to the Property and are true, accurate and
complete copies of the Leases in Seller’s possession and to Seller’s knowledge there are no other lease documents and/or occupancy agreements or oral understandings or side agreements with any tenant of the Property that has not been
reduced to a writing and which is not set forth among the Leases. 
 (b) Except as expressly provided in Section 3.1 of
this Agreement, Seller has made no representations or warranties with respect to any aspect of Seller’s Documents, including, but not 

  
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limited to, their truthfulness, accuracy or completeness, and/or with respect to any physical aspects of the Real Property and no such representations or warranties shall be deemed implied and
Seller hereby disclaims any such representations or warranties. Purchaser hereby acknowledges that no such representations or warranties have been made and that none shall be deemed implied. 

(c) Purchaser expressly authorizes Seller to make whatever inquiries and disclosures with respect to Purchaser as Seller shall reasonably
require, including, but not limited to, those required in connection with a credit investigation (e.g., with Dunn & Bradstreet or other credit reporting agency) and those in connection with the USA PATRIOT Act. 

7.2 Survival: The representations and warranties of Seller contained in this Agreement shall survive for a period
(“Survival Period”) of one hundred eighty (180) days after Closing. In connection with the foregoing, to the extent claims of Losses (defined below) are not made to Seller in the form of a written notice on or before the
expiration of the Survival Period, then, thereafter, any such claims shall be forever barred, waived, released and discharged. In the event that any representation or warranty of Seller set forth in Section 7.1 of this Agreement is untrue or
incorrect in any material respect or Seller updates, at Seller’s sole election, any representation or warranty in Section 7.1 of this Agreement at any time prior to the Closing Date upon written notice to Purchaser to the extent that the
same is no longer true in any material respect, then Purchaser shall have the right, as its sole and exclusive remedy, to either (i) terminate this Agreement upon written notice to Seller within five (5) business days after Purchaser
becomes aware that any such representation or warranty is untrue or incorrect in any material respect and obtain a refund of the Deposit and in such event, Seller shall also reimburse Purchaser for Purchaser’s actual third party out-of-pocket
costs and expenses (including reasonable attorneys’ fees) that Purchaser has then incurred in connection with this Agreement (as supported by reasonably sufficient evidence of the same, including, but not limited to, paid in full invoices),
provided, however, that in no event shall Seller’s obligation to reimburse Purchaser for any such costs and expenses (including reasonable attorneys’ fees) exceed Fifty Thousand and no/100ths Dollars ($50,000.00) in the aggregate, or
(ii) close on the purchase of the Property notwithstanding that such representation or warranty is untrue or incorrect in any material respect. Except with respect to a representation or warranty that Seller knew to be untrue when Seller made
it as of the Effective Date or for a representation or warranty that is rendered untrue by Seller’s intentional and knowing breach of one of its obligations expressly set forth in this Agreement after the Effective Date but prior to Closing, no
claim by Purchaser or its permitted assignees and successors for a breach of a representation or warranty of Seller shall be actionable or payable if the breach in question results from or is based on a condition, state of facts or other matter,
which was known to Purchaser prior to or on the Closing Date (either because Purchaser has discovered that a representation or warranty is untrue or Seller has disclosed to Purchaser that a representation or warranty is untrue prior to or on the
Closing Date). Except as expressly provided in the prior sentence, if Purchaser elects to consummate the transaction described herein with such knowledge, then Purchaser shall be deemed to have waived any action against Seller or any right to be
indemnified by Seller as expressly provided under this Agreement with respect to a breach of any such representation or warranty. This Section 7.2 shall survive Closing. 
 7.3 Indemnification by the Seller: Any limitation contained herein to the contrary notwithstanding: 
 (a) From and after the Closing, but subject to the terms of Section 7.2 above and Section 7.3(b) below, Seller shall indemnify and hold Purchaser, its affiliates, members and
partners, and the partners, shareholders, officers, directors, employees, representatives and agents of each of the foregoing harmless from and against any and all costs, fees, expenses, damages, deficiencies, interest and penalties (including,
without limitation, reasonable attorneys’ fees and disbursements) suffered or incurred by any such indemnified party in connection with any and all losses, liabilities, claims, damages 

  
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and expenses (collectively, “Losses”), arising out of, or in any way relating to breach of any representation or warranty of Seller contained in this Agreement. The foregoing
indemnity shall be deemed to include actual Losses only, and not punitive, indirect or consequential damages. In the event Purchaser becomes aware of any such Losses or the likelihood of such Losses, Purchaser shall give prompt written notice to
Seller and Seller shall have the right and opportunity to defend against such Losses with counsel selected by Seller. In no event shall Seller be liable for any Losses relating to any breach of any representation or warranty contained herein, if and
to the extent that Purchaser had actual knowledge of such breach prior to Closing, and Purchaser elects to proceed to Closing notwithstanding same. 
 (b) In addition to the limitations set forth in Section 7.2, Purchaser acknowledges and agrees that (i) Seller shall have no liability to Purchaser for any Losses unless claims of Losses
exceed, individually or collectively in the aggregate, $25,000.00 (the “Floor”), in which event the full amount of such valid claims shall be actionable, up to the liability cap set forth in the following clause, (ii) recovery
against Seller for any Losses shall be limited in all events to $350,000.00 in the aggregate (the “Cap”), and (iii) in no event shall Purchaser be entitled to seek or obtain consequential, indirect or punitive or other damages.
The foregoing Floor and Cap shall not apply to the indemnification provided by Seller in Article XI hereof. 
 (c) Seller shall
terminate all of the Contracts prior to or at the Closing. 
 (d) This Section 7.3 shall survive Closing.

 7.4 Purchaser represents and warrants as follows: 
 (a) Authority. Purchaser has the right to execute this Agreement and to purchase the Property without obtaining the consent, approval, release, or signature of any other party. The signatories
hereto on behalf of Purchaser have been duly authorized to execute and deliver this Agreement and to bind Purchaser hereto. Purchaser has full power to consummate the transaction described in this Agreement, the execution and delivery of this
Agreement by Purchaser and the consummation by Purchaser of the transaction described herein has been duly and validly authorized by all necessary action and the observance of all required formalities on the part of Purchaser such that this
Agreement constitutes a valid and legally binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms. 
 (b) No Conflict. Neither the execution and delivery of this Agreement nor the consummation by Purchaser of the transaction contemplated hereby will (i) conflict with or result in a breach of
or default under any of the terms, conditions or provisions of any note, bond, mortgage, indenture, license, agreement or other instrument or obligation to which Purchaser is a party, or (ii) violate any order, injunction, decree, statute, rule
or regulation applicable to Purchaser. 
 (c) PATRIOT Act. Neither Purchaser nor any of its affiliates, nor any of their
respective partners, members, shareholders or other equity owners, and none of their respective employees, officers, directors, representatives or agents, is a person or entity with whom U.S. persons or entities are restricted from doing business
under regulations of OFAC (including those named on the List) or under any statute, executive order (including the Order), or other governmental action. Within 10 days after the Effective Date, Purchaser shall submit to Seller an organizational
chart of Purchaser showing the names of all owners of interests, and percentages owned, whether direct or indirect, in Purchaser, such chart showing each level of ownership on down to the live body individuals that directly or indirectly own
Purchaser, such chart showing the employer identification numbers and social security numbers of each such owner and each owner’s home and business address. 

  
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 7.5 Prior to the expiration of the Inspection Period, Seller shall not, without the prior
written consent of Purchaser, such consent not to be unreasonably withheld, conditioned or delayed (and such consent shall be deemed granted if no response to a request therefor has been received by Seller within five (5) days after request to
Purchaser), enter into any new Lease or amend, modify or terminate any existing Lease (or related guaranty of such Lease). After the expiration of the Inspection Period, Seller shall not, without the prior written consent of Purchaser in
Purchaser’s sole discretion, enter into any new Lease or amend, modify or terminate any existing Lease (or related guaranty of such Lease). Notwithstanding the foregoing, at any time during the pendency of this Agreement, Seller shall have the
right, without Purchaser’s prior consent, in connection with any Tenant default, to exercise such remedies under the applicable Lease as are reserved therein or at law or in equity including termination of the applicable Lease. By 10 a.m. EST
on the Monday of each calendar week during the period between the Effective Date and the Closing, Seller shall provide to Purchaser a written update as to the status of all pending lease negotiations with respect to the leasing of the Property.

 7.6 From the Effective Date until the Closing or earlier termination of this Agreement Seller shall conduct the business of
the Property in the ordinary course, and will not: (i) transfer or convey the Property or any interest in Seller, or enter into any agreement to do so; (ii) create or agree to any easements, liens, mortgages, encumbrances or other
interests that would affect the Property or Seller’s ability to comply with this Agreement; (iii) enter into any contracts or commitments regarding the Property; (iv) fail to maintain and repair the Property in at least the manner
that Seller has done previously; (v) change Seller’s existing policies of public liability and hazard and extended coverage insurance insuring the Property; (vi) fail to comply promptly with any notices of violation of laws or
municipal ordinances, regulations, orders or requirements of departments of housing, building, fire, labor, health, or other state, city or municipal departments or other governmental authorities having jurisdiction against or affecting the Property
or the use or operation thereof, without the prior written consent of Purchaser, which consent may be granted or denied in Purchaser’s sole discretion; and/or (vii) terminate any tax appeals, condemnation awards proceedings, insurance
settlement negotiations or proceedings, zoning changes, public roadway and/or traffic realignment negotiations with public authorities or the like, and/or storm water management agreements, and the like benefiting the Property. 

ARTICLE VIII 

CLOSING DOCUMENTS AND DELIVERIES 
 On the Closing Date, Seller shall execute and deliver to Purchaser (as required) and Purchaser shall execute and deliver to Seller (as required) or they both shall otherwise execute and deliver to the
Title Company if Closing will occur through an escrow arrangement with the Title Company acting as escrow agent the following: 

8.1 Purchaser shall deliver to Seller the Purchase Price by wire transfer of readily available funds. 

8.2 Seller shall execute and deliver to Purchaser the Deed. 
 8.3 Seller shall execute and deliver to Purchaser the Assignment and Assumption of Leases. On the Closing Date, Seller shall deliver to Purchaser the originally executed Leases to the extent that Seller
has the same in Seller’s possession, or if any originals of the Leases are unavailable, certified copies of such unavailable Leases accompanied by an Affidavit of Lost Leases from Seller, together with

  
 16 

 
an assignment of the Lease and unclaimed security deposits. Purchaser shall execute a counterpart of the Assignment and Assumption of Leases and deliver same to Seller at Closing. 

8.4 Intentionally omitted. 
 8.5 Seller shall deliver to Purchaser all existing plans, permits, licenses, warranties, and specifications in Seller’s possession relating to the Real Property. 

8.6 Seller shall execute and deliver the Bill of Sale. 
 8.7 Seller shall deliver to the Title Company such evidence of Seller’s authority to enter into this transaction which is reasonably required by the Title Company. 

8.8 Seller shall execute and deliver such affidavit as the Title Company may reasonably require to remove its standard printed exceptions
relating to, among other things, construction liens and rights of parties in possession, but not with respect to matters of survey. 
 8.9 Seller shall execute and deliver such corrective instruments or other instruments which are necessary to cure any defect(s) which Seller has expressly agreed to cure under Section 4.2 of this
Agreement. 
 8.10 An updated Rent Roll certified by the Seller as true and correct in all material respects. 

8.11 Seller shall deliver to Purchaser a notice to the tenants of the change of ownership of the Property in the form of
Exhibit 8.11 attached hereto and made a part hereof. 
 8.12 Seller shall deliver to the Title Company an affidavit
stating that Seller is not a “Foreign Person” within the meaning of the Internal Revenue Code. 
 8.13 Seller and
Purchaser shall execute and deliver to each other the Closing Statement showing the amounts by which the Purchase Price shall be adjusted as of the Closing Date and in the following manner: 

(a) Purchaser shall, at Purchaser’s sole cost and expense, pay the premium and all search and exam fees for the Title Commitment,
the Title Insurance Policy and any endorsements Purchaser shall require. Purchaser shall pay all costs associated with the Survey. Purchaser shall, at Purchaser’s sole cost and expense, pay for all lease build out expenses, attorneys fees and
brokerage commissions with respect to those Leases approved by Purchaser and executed and delivered from and after the Effective Date. Seller shall, at Seller’s sole cost and expense, pay all transfer taxes, deed stamps or the like, if any,
associated with the delivery of the Deed. Purchaser shall, at Purchaser’s sole cost and expense, pay all recording fees for the recording of the Deed. 
 (b) Taxes shall be prorated between Purchaser and Seller in accordance with local custom for commercial real estate transactions involving property in the county in which the Property is located, provided
that there shall be no proration for Publix provided that it reimburses the Landlord annually for Taxes under its Lease. Taxes for the year of Closing shall be prorated as of 12:01 a.m. on the Closing Date. Taxes shall be prorated based on amounts
for the portion of the fiscal tax year which has elapsed prior to the Closing Date (with a credit given to Seller for any portion of such Taxes that have been paid by Seller), except that, if tax amounts for the current tax year are not available as
of the Closing Date, prorations shall be made based on the Taxes for the preceding tax year as reflected in the most recent tax bills. If, subsequent to the Closing Date, Taxes for the current year are determined to be higher

  
 17 

 
or lower than as prorated, a reproration and adjustment will be made at the request of Purchaser or Seller based upon the then most recent tax bills and such reproration shall be made within
sixty (60) days of the date notice is provided by either Purchaser or Seller. This provision shall expressly survive Closing. 
 (c) Purchaser shall receive credit for all security deposits currently held by Seller on the Closing Date (including all interest earned thereon if required by applicable laws) which Seller is required to
have in its possession or control pursuant to the terms of any Lease. 
 (d) Seller shall pay all water, sewer, utility charges,
common area maintenance charges, and other operating expenditures through the day before the Closing Date. If final readings have not been taken, estimated charges shall be prorated between the parties and appropriate credits given, and post-closing
adjustments shall be made when the actual billings are received. As of the Closing Date, Purchaser shall transfer the utility bills to Purchaser’s own name, and as such, Purchaser will be responsible for all utility charges accruing on and
after the Closing Date and the Seller shall be directly billed for all utility charges accruing prior to the Closing Date. 

(e) Rentals paid by Tenants and received by Seller prior to the Closing Date shall be prorated between the parties with rentals
applicable to the period from and after the Closing Date allocated to Purchaser and with rentals applicable to the period prior to the Closing Date allocated to Seller (where such proration is made regardless of the day of the month on which a
Tenant’s rent comes due so long as it is a day prior to the Closing Date and such rentals are actually received by Seller). All rent, to the extent collected by Seller on or prior to the Closing Date and which represents payments of rent
applicable to the month in which the Closing Date occurs, shall be prorated and allocated as of the Closing Date based upon the actual number of days in the month in which the Closing occurs. If, on the Closing Date, there are any past due rents or
other charges owing from Tenants or other occupants of the Real Property for the month in which Closing occurs which have not been actually collected by Seller, such rents and other charges shall not be prorated, as only actually collected rents are
subject to the terms of this Section 8.14(e). To the extent that Purchaser receives any rent or other similar payments under any Lease (including monthly payments of escalation and percentage rents) or other occupancy arrangements after the
Closing Date that are applicable to the period of time before the Closing Date, Purchaser shall render an accounting to Seller with respect to such rents and other similar payments and such rents and other similar payments shall be applied in the
following order of priority, to the extent such calendar months have not been paid: (i) first to Purchaser for any calendar month or months following the calendar month in which the Closing occurred until the Tenant under its Lease is current
with respect to all rents then due and payable after the Closing Date, (ii) then to Seller and Purchaser for the calendar month in which the Closing occurred with such rents and other similar payments being prorated in the same manner as
otherwise provided in this Section 8.14(e) at Closing and on the Closing Statement, and (iii) then to Seller for the calendar months prior to the month in which the Closing occurred for all delinquent rents owed by the Tenants under their
Leases. Purchaser shall exercise reasonable efforts to collect the rents described in clause (iii) of the foregoing sentence, including, but not limited to, invoicing Tenants for delinquent rent in accordance with its normal billing practices
for ninety (90) days following the Closing Date; provided, however, that nothing in this section shall obligate Purchaser in any way to initiate formal collection efforts against any Tenant with respect to uncollected rents to which Seller may
be entitled. For a period of one hundred twenty (120) days following Closing, Purchaser may not, however, waive any such delinquent amounts owed to Seller, nor modify the Leases so as to reduce or otherwise affect such amounts owed to Seller
under the Leases for any period in which Seller is entitled to receive rent, without first obtaining Seller’s prior written consent. With respect to delinquent amounts of any kind owed by Tenants for the period prior to the Closing Date who are
no longer Tenants of the Property as of the Closing Date, Seller shall retain all rights relating thereto. 

  
 18 

 (f) To the extent the Leases provide that the Tenants thereunder are required to reimburse
the lessor for a portion of operating and maintenance expenses of the Real Property for such periods as are set forth in the respective Leases, Seller and Purchaser agree that these expenses (if actually collected) shall be prorated as of the
Closing Date. With respect to those expense items for which sufficient information will not be available on the Closing Date to calculate a monetary proration as of Closing, Purchaser agrees to invoice Tenants for and collect those reimbursement
expenses (on behalf of both Purchaser and Seller) and remit to Seller, within thirty (30) days after Purchaser’s receipt of actual collected reimbursements, Seller’s pro rata share of such collected reimbursements, together with a
written accounting of Purchaser’s invoices and receipts and its proration calculations. Purchaser shall use good faith efforts to collect from the Tenants the expense reimbursements due to Seller and shall remit Seller’s pro rata share of
such collected reimbursements within thirty (30) days after Purchaser’s receipt thereof. Within ninety (90) days following the Closing Date, Seller shall deliver to Purchaser a full accounting of the 2012 prorations made with respect
to the Leases. 
 (g) If and when collected, reimbursements received from the Tenants by Seller or Purchaser of amounts paid for
Taxes shall be prorated between the parties in the manner hereinabove provided for the proration of Taxes. 
 ARTICLE IX

 DAMAGE 
 In the event that any improvements located upon the Property shall be damaged or destroyed by fire, storm or other casualty before the Closing Date and the cost to repair such casualty shall exceed
$500,000.00, then Purchaser shall have the right to terminate this Agreement by providing to Seller a written notice of termination within fifteen (15) days after receiving notice of such fire, storm or other casualty and upon such termination,
anything herein contained to the contrary notwithstanding, and, the Deposit shall be refunded to Purchaser. In the event Purchaser shall not elect to terminate this Agreement or in the event Purchaser fails timely to terminate this Agreement
pursuant to the foregoing or in the event of any damage or destruction to such improvements the cost of repair for which is less than $500,000.00 (for which no termination right shall apply under this Article IX), Purchaser shall be entitled
to receive at Closing an absolute assignment from Seller of any interest Seller may have otherwise had in the proceeds of any insurance on the Property (including any rent loss insurance allocable to the period from and after the Closing Date) less
any costs incurred by Seller in securing such proceeds and/or adjusting the loss (but in no event shall such costs incurred by Seller exceed ten percent (10%) of the total proceeds received by Seller) and/or in undertaking any required repairs
and Purchaser shall proceed with the Closing on the Property in its then “as-is” condition with a reduction in the Purchase Price equivalent to the deductible paid by Seller for such insurance policy, if any, as soon as reasonably possible
after the occurrence of any such event. 
 ARTICLE X 
 CONDEMNATION 
 10.1 In the event that, between the Effective Date and the
Closing Date, any condemnation or eminent domain proceedings are initiated which would result in the taking of any “material part” (as hereinafter defined) of the Real Property or the buildings and improvements located on the Real Estate,
Purchaser may: 

  
 19 

 (a) terminate this Agreement by providing written notice to Seller and receive a refund of
the Deposit (within the time periods provided for in Section 10.2 below); or 
 (b) proceed with the Closing, in
which event Seller shall assign to Purchaser at Closing all of Seller’s right, title and interest in and to any award made in connection with any such condemnation or eminent domain proceedings, with the Property being in its then “as
is” condition with no reduction to the Purchase Price. 
 10.2 Seller shall promptly notify Purchaser in writing if Seller
has actual knowledge of the threat of, commencement or occurrence of any condemnation or eminent domain proceedings. Purchaser shall then notify Seller, within ten (10) days of Purchaser’s receipt of Seller’s notice, which of
Purchaser’s rights Purchaser elects to exercise under Section 10.1(a) or (b). If Purchaser fails to make an election within such ten (10) day period, Purchaser shall be deemed to have elected to exercise Purchaser’s rights
under Section 10.1(b). As used in this Article X, “material part” shall mean (i) a portion of the Real Property with a value equal to or greater than Five Hundred Thousand and no/100ths Dollars ($500,000.00),
(ii) any rights of access to or from the existing primary ingress and egress points of access to the Real Property are the subject of such condemnation or eminent domain proceedings or (iii) a portion of the Real Property which is used
exclusively for parking and is needed in order for the Real Property to comply with all applicable laws and ordinances is the subject of such condemnation or eminent domain proceedings. 

ARTICLE XI 

BROKER 

Purchaser represents and warrants that it has not been represented by any broker in connection with the purchase of the Property. Seller
represents and warrants that it has been represented in this transaction by Broker and that Seller will be responsible for the commission due Broker in the event of Closing pursuant to a separate agreement between Seller and Broker. Seller and
Purchaser shall indemnify and hold the other harmless from any loss, cost, liability or expense (including reasonable attorneys’ fees and costs) on account of the indemnifying party’s breach of this Article XI. 

ARTICLE XII 

MISCELLANEOUS 
 12.1 This Agreement and the exhibits attached hereto embody the entire agreement between the parties in connection with this transaction and there are no oral or parole agreements existing between the
parties relating to this transaction which are not expressly set forth herein and covered hereby; this Agreement may not be modified except in writing signed by all parties. 
 12.2 Failure of either party to complain of any act or omission on the part of the other party, no matter how long the same may continue, shall not be deemed to be a waiver by such party to any of its
rights hereunder. No waiver by any party at any time, expressed or implied, of any breach of any provision of this Agreement shall be deemed a waiver or a breach of any other provision of this Agreement or a consent to any subsequent breach of the
same or any other provision. If any action by any party shall require the consent or approval of another party, such consent or approval of such action on any one occasion shall not be deemed a consent to or approval of said action on any subsequent
occasion or a consent to or approval of any action on the same or any subsequent occasion. 

  
 20 

 12.3 The captions, section numbers and article numbers appearing in this Agreement are
inserted only as a matter of convenience, and do not define, limit, construe or describe the scope or intent of such sections or articles of this Agreement nor in any way affect this Agreement. 

12.4 No party other than Seller and Purchaser and their successors and assigns, shall have any rights to enforce or rely upon this
Agreement, which is binding upon and made solely for the benefit of Seller and Purchaser and their successors and assigns, and not for the benefit of any other party. 
 12.5 All notices provided for or permitted to be given pursuant to this Agreement must be in writing. All notices to be sent hereunder shall be deemed to have been properly given or served: if hand
delivered by courier, in hand when received; if mailed, on the third business day following the date upon which the same is deposited in the United States mail, addressed to the recipient of the notice, certified with return receipt requested; if by
telecopy, on the date sent (or the next business day after the date of transmission if the transmission day is not a business day) provided that the facsimile was properly addressed and that a duplicate notice was forwarded via nationally recognized
overnight courier guarantying next day delivery; if by electronic mail, on the date sent (or the next business day after the date of transmission if the transmission day is not a business day) provided that the electronic mail was properly addressed
and that a duplicate notice was forwarded via nationally recognized overnight courier guarantying next day delivery; and, if by nationally recognized overnight courier guarantying overnight delivery, on the day such notice was deposited with such a
courier, so long as the day of deposit was on a service day of such courier and prior to the last pick up for such day. 
  

			
	 If to Purchaser:
	  	The Phillips Edison Group LLC
		  	c/o Phillips Edison & Company
		  	11501 Northlake Drive
		  	Cincinnati, Ohio 45249
		  	Fax: (513) 956-5660
		  	 E-mail: dwik@phillipsedison.com j

		  	Attention: David Wik
		
	 With a copy to:
	  	The Phillips Edison Group LLC
		  	 c/o Phillips Edison & Company

		  	 11501 Northlake Drive

		  	 Cincinnati, Ohio 45249

		  	 Fax: (513) 956-5660

		  	 E-mail: jstaffilino@phillipsedison.com

		  	 Attention: Joel Staffilino

		
	 With a copy to:
	  	Honigman Miller Schwartz and Cohn LLP
		  	38500 Woodward Avenue, Suite 100
		  	Bloomfield Hills, Michigan 48304-5048
		  	Fax: (248) 566-8479
		  	E-mail: jrothstein@honigman.com
		  	Attention: J. Adam Rothstein, Esq.

  
 21 

			
	 If to Seller:
	  	CRP II – Glynn Place, LLC
		  	102 West Whiting Street
		  	Suite 600
		  	 Tampa, Florida 33602

		  	Fax: (813) 574-6771
		  	E-mail: cberger@forgecapitalpartners.com
		  	Attention: Caetie Berger
		
	 With a copy to:
	  	Michael D. Karsch, Esq.
		  	Belson Karsch, LLC
		  	2000 Glades Road, Suite 300
		  	Boca Raton, Florida 33431
		  	Fax: (561) 613-4100
		  	E-mail: mkarsch@karschlaw.com

 12.6 This Agreement shall be governed by the laws of the State in which the Property is located.

 12.7 This Agreement may be executed in any number of counterparts, each of which, when taken together, shall be deemed to be
one and the same instrument. Executed copies of this Agreement may be delivered between the parties via telecopy or electronic mail. 
 12.8 Neither Purchaser nor Seller shall record this Agreement or any memorandum thereof in any public records or make any press release or other public disclosure concerning the transaction contemplated
hereby and each party shall use its diligent and commercially reasonable efforts to prevent disclosure of the transaction contemplated hereby prior to Closing, other than (a) to directors, trustees and officers and members or shareholders of
the parties or any qualified intermediary in connection with a like kind exchange of real estate associated herewith, and employees, agents, bankers, attorneys, accountants, consultants and affiliates of the parties who are involved in the ordinary
course of business with the transaction contemplated hereby, and to Purchaser’s lender, the Title Company and Purchaser’s consultants who are retained to investigate the Property, all of which shall be instructed to comply with the
non-disclosure provisions hereof, (b) in response to lawful process or subpoena or other valid or enforceable order of a court of competent jurisdiction, and/or (c) as required for any SEC filing. This Section 12.8 shall survive the
expiration or earlier termination of this Agreement, anything herein contained to the contrary notwithstanding. 
 12.9
Purchaser may not assign this Agreement or its rights hereunder without the prior written consent of Seller, which consent may be withheld in its sole discretion and any such consented to assignment by Purchaser shall not release Purchaser from
liability hereunder. 
 12.10 Except as otherwise expressly provided herein, no representations, warranties, covenants,
agreements or other obligations in this Agreement shall survive the Closing, and no action based thereon shall be commenced after the Closing Date. 
 12.11 Seller reserves the right to effectuate the sale of the Property by means of an exchange of “like-kind” property which will qualify as such under Section 1031 of the Code and the
regulations promulgated thereunder. Seller expressly reserves the right to assign its rights, but not its obligations, hereunder to a qualified intermediary as provided in I.R.C. Reg. 1.1031(k)-1(g)(4) on or before the date of Closing. Upon written
notice from Seller to Purchaser, Purchaser agrees to cooperate with Seller to effect a like-kind exchange, provided that such cooperation shall be subject to the following conditions: (a) such exchange shall not delay the date of Closing by
more than fifteen (15) days and shall occur either 

  
 22 

 
simultaneously with the Closing or the sale proceeds payable to Seller shall be paid to a third party Title Company or intermediary and title conveyed to Purchaser, such that Purchaser shall not
be required to participate in any subsequent closing, (b) Purchaser shall not be obligated to spend any sums or occur any expenses in excess of the sums and expenses which would have been spent or incurred by Purchaser if there had been no
exchange, and (c) Purchaser shall not be obligated to acquire, accept title to or convey any property other than the property to be conveyed to Purchaser pursuant to this Agreement. 

12.12 As used herein, the phrase “business days” shall be deemed to mean all days other than Saturdays, Sundays and legal
holidays in the state in which the Real Property is located and those days on which banking institutions in such state are authorized by law to close for business. 
 12.13 The parties acknowledge that the purchase and sale of the Property involves only the purchase and sale of the Property and that Seller is not selling a business nor do the parties intend that
Purchaser be deemed a successor of Seller with respect to any liabilities of Seller to any third parties other than the tenants under the Leases or as otherwise set forth herein. Accordingly, Purchaser shall neither assume nor be liable for the
Seller Debts (as hereinafter defined) or any of the debts, liabilities, taxes or obligations of, or claims against any other person or entity, of any kind or nature, whether existing now, upon Closing or at any time thereafter, which shall be solely
those of Seller, and Seller hereby agrees to indemnify, defend and hold harmless Purchaser against any loss, cost, liability, damage or expense with respect thereto. “Seller Debts” are the debts, liabilities, taxes, obligations and claims
for which Seller alone is liable and shall include (a) all payments and benefits to past and/or present employees of Seller in connection with the business being conducted on or from the Property as may have accrued through Closing, (including,
but not limited to, salaries, wages, commissions, bonuses, vacation pay, health and welfare contributions, pensions, profit sharing, severance or termination pay, or any other form of compensation or fringe benefit), (b) obligations of Seller
under any Leases or occupancy agreements accruing prior to Closing, unless specifically assumed by Purchaser, and (c) obligations of Seller under the Contracts. 
 12.14 Purchaser has advised Seller that Purchaser may be required to file, in compliance with certain laws and regulations (including, without limitation, Regulation S-X of the Securities and Exchange
Commission), audited financial statements, pro forma financial statements and other financial information related to the Property for up to three (3) fiscal years prior to Closing and any interim period during the fiscal year in which the
Closing occurs (the “Financial Information”). Following the Closing, Seller agrees to use its commercially reasonably efforts to cooperate with Purchaser and its representatives and agents in the preparation of the Financial Information;
provided, however, Seller shall not be required to incur any out of pocket expenses or costs unless Purchaser reimburses Seller for the same. Seller shall maintain and allow access to, during normal business hours, such books and records of Seller
and Seller’s manager of the Property reasonably related to the Property. Further, so long as the persons in charge of management of the Property at the time of Closing remains in the employ of Seller or an affiliate of Seller, Seller will make
such persons available for interview. Notwithstanding the foregoing, Seller shall not be required to provide any information concerning (a) Seller’s capital structure or debt, (b) Seller’s financial analyses or projections,
investment analyses, account summaries or other documents prepared solely for Seller’s internal purposes and not directly related to the operation of the Property, (c) Seller’s tax returns, (d) financial statements of Seller or
any affiliate of Seller (other than Property-level financial statements), or (e) periods prior to Seller’s ownership to the extent not in Seller’s possession since Seller has owned the Property for less than three (3) fiscal
years. Purchaser acknowledges Purchaser may not use the results of its review under this Section 15.15 to pursue any claim against Seller under the terms of this Agreement, unless the basis of the claim was discovered by Purchaser or its
representatives or agents independently of any such review. 
 [END OF TEXT – SIGNATURES ON FOLLOWING PAGES] 

  
 23 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement. 

 

			
	CRP II – GLYNN PLACE, LLC
	a Delaware limited liability company
	
	By CRP II PARTNERS, LLC, its manager
		
	 By:
	 	 /s/ Robert Moreyra

	 Name:
	 	 Robert Moreyra

	 Its: 
	 	 President

		
		 	“Seller”
	
	Dated: March 26, 2012

  
 24 

 
							
	
	THE PHILLIPS EDISON GROUP LLC,
	an Ohio limited liability company
		
	 By:
	 	PHILLIPS EDISON LIMITED PARTNERSHIP,
		 	 a Delaware limited partnership,

 Managing Member

			
		 	 By:
	 	PHILLIPS EDISON & COMPANY, INC.,
		 		 	 a Maryland corporation,

 General Partner

				
		 		 	 By:
	 	 /s/ Robert F. Myers

		 		 	 Name:  
	 	 Robert F. Myers

		 		 	 Its:
	 	 President

				
		 		 		 	“Purchaser”
	
	Dated: March 26, 2012

  
 25 

 DEPOSIT ACKNOWLEDGMENT 

The undersigned hereby acknowledges receipt of the Deposit and agrees to hold the same pursuant to terms of the Agreement. The liability
of the undersigned is limited by the terms and conditions expressly set forth herein and by the laws of the state in which the Property is located and in no event shall the liability of the undersigned exceed the amount of the Deposit. The
undersigned shall have no liability whatsoever on account of or occasioned by any failure or negligence on the part of any bank, savings and loan or other savings institution wherein the Deposit is deposited, provided, however, that such institution
is, at the time of deposit of the Deposit, federally insured. In the event of litigation affecting the duties of the undersigned as Title Company relating to this Agreement and the Deposit, Seller and Purchaser, jointly and severally, shall
reimburse the undersigned for all expenses incurred by the undersigned, including reasonable attorneys’ fees, unless such litigation results from or is caused by the gross negligence or misfeasance of the undersigned. In the event of any
dispute between Seller and Purchaser pertaining to the Deposit, the undersigned may commence an interpleader action and deposit the Deposit with a court of competent jurisdiction and in such event, the undersigned shall be relieved of all further
obligation and liability. 
  

			
	TITLE SOURCE, INC.
		
	By:	 	 /s/ Robert S. Powell

	Name:	 	 Robert S. Powell

	Its:	 	 Account Executive

		 	Escrow #56425728
	  
 Address:

 
 1450 W. Long Lake Road
 Suite 400
 Troy, MI 48098
 Phone: (248) 312-2660
 Fax: (877) 382-6485

E-mail: BobPowell@TitleSource.com

 Dated: March 28, 2012 

  
 26 

 Exhibit List 
  

			
	Exhibit 1.1	 	Assignment and Assumption of Leases
	Exhibit 1.2	 	Intentionally omitted
	Exhibit 1.3	 	Bill of Sale
	Exhibit 1.8	 	List of Contracts
	Exhibit 1.9	 	Deed
	Exhibit 1.20	 	Personality List
	Exhibit 1.22	 	Legal Description
	Exhibit 1.25	 	Rent Roll
	Exhibit 1.26	 	Seller’s Documents
	Exhibit 3.7	 	Form of Estoppel Certificate
	Exhibit 8.11	 	Notice to Tenants

  
 27 

 EXHIBIT 1.1 
 ASSIGNMENT AND ASSUMPTION OF LEASES 
 KNOW ALL MEN that CRP II -
GLYNN PLACE LLC, a Delaware limited liability company (“Assignor”), in consideration of Ten ($10.00) Dollars and other good and valuable consideration, received from
                            , a
                             (“Assignee”), does hereby assign, transfer and deliver unto
Assignee, all of its right, title and interest in and to the leases, together with all security deposits presently held by Assignor in connection therewith (collectively, the “Leases”) affecting the premises known as VILLAGE AT GLYNN PLACE
more particularly described on Schedule A annexed hereto. 
 TO HAVE AND TO HOLD the same unto Assignee, its successors
and assigns, forever, from and after the date hereof, subject to the terms, covenants, conditions and provisions hereof and of said Leases. 
 AND Assignee does hereby acknowledge receipt of said Leases (including the security deposits) so delivered, and does hereby (a) accept the within assignment, (b) assume the performance of all of
the terms, covenants and conditions of the said Leases on the part of the lessor/Assignor thereunder which are to be performed or arise from and after the date hereof, and (c) indemnify, defend and hold Assignor free and harmless from and
against any and all costs, expenses, claims, losses or damages, liabilities and judgments (including reasonable attorneys’ fees and disbursements) which Assignor may suffer as a direct result of any default on the part of Assignee to perform
said terms, covenants and conditions of the Leases or in any way relating to the security deposits. 
 This assignment is made
without warranty or representation by the Assignor and without recourse to the Assignor in any manner whatsoever. This assignment and assumption agreement shall inure to the benefit of Assignee and Assignor and their respective successors and
assigns and shall be governed by the laws of the State of Georgia. This assignment and assumption agreement may not be modified, altered or amended, or its terms waived, except by an instrument in writing signed by the parties hereto. 

None of the provisions of this instrument are intended to be, nor shall they be construed to be, for the benefit of any third party.

 [Signatures appear on following page] 

  
 Exhibit

 SIGNATURE PAGE TO 
 ASSIGNMENT AND ASSUMPTION OF LEASES 
 IN WITNESS WHEREOF, Assignor and
Assignee have only executed this assignment and assumption agreement this              day of             , 2012.

  

					
	CRP II - GLYNN PLACE LLC,
	a Delaware limited liability company 
	
	By CRP II PARTNERS, LLC, its manager
		
	By:	 	  

		
	Name:	 	  

			
		 	Its:	 	  

			
		 		 	“Assignor”
	
	                           
                                         
        ,
	
	a                           
                     
		
	By:	 	  

		
	Name:	 	  

			
		 	Its:	 	  

			
		 		 	“Assignee”

  
 Exhibit
continued 

 SCHEDULE A TO ASSIGNMENT AND ASSUMPTION OF LEASES 

Legal Description 
 COMBINED ALL THAT CERTAIN LOT, PARCEL OR TRACT OF LAND SITUATE, LYING AND BEING IN GEORGIA MILITIA DISTRICT NO. 26, GLYNN COUNTY, GEORGIA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING AT A DRILL HOLE IN CONCRETE WHOSE COORDINATES ARE: X = 714,390.586, Y = 442,060.672, GEORGIA COORDINATE SYSTEM, EAST ZONE, SAID
POINT ALSO BEING A POINT ON THE WESTERLY RIGHT-OF-WAY OF ALTAMA AVENUE; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 423.19 FEET TO AN IRON PIN; THENCE DEPARTING SAID WESTERLY
RIGHT-OF-WAY PROCEED NORTH 32 DEGREES 31 MINUTES 04 SECONDS WEST FOR A DISTANCE OF 28.28 FEET TO AN IRON PIN; THENCE PROCEED NORTH 77 DEGREES 31 MINUTES 04 SECONDS WEST FOR A DISTANCE OF 155.00 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 58 DEGREES 16
MINUTES 27 SECONDS WEST FOR A DISTANCE OF 41.91 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 193.61 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52 MINUTES 24 SECONDS WEST FOR A DISTANCE
OF 507.21 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52 MINUTES 24 SECONDS WEST FOR A DISTANCE OF 157.85 FEET TO AN IRON PIN; THENCE PROCEED NORTH 81 DEGREES 25 MINUTES 40 SECONDS WEST FOR A DISTANCE OF 2.32 FEET TO AN IRON PIN; THENCE
PROCEED NORTH 13 DEGREES 01 MINUTES 58 SECONDS WEST FOR A DISTANCE OF 170.54 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES 34 MINUTES 18 SECONDS EAST FOR A DISTANCE OF 50.27 FEET TO A POINT; THENCE PROCEED NORTH 12 DEGREES 24 MINUTES 16 SECONDS
EAST FOR A DISTANCE OF 264.45 FEET TO A POINT; THENCE PROCEED NORTH 77 DEGREES 32 MINUTES 57 SECONDS WEST FOR A DISTANCE OF 67.26 FEET TO A POINT; THENCE PROCEED NORTH 12 DEGREES 29 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 207.03 FEET TO A IRON
PIN; THENCE PROCEED NORTH 47 DEGREES 02 MINUTES 22 SECONDS WEST FOR A DISTANCE OF 58.90 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 76 DEGREES 58 MINUTES 02 SECONDS WEST FOR A DISTANCE OF 189.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 26 DEGREES 46
MINUTES 22 SECONDS EAST FOR A DISTANCE OF 54.67 FEET TO AN IRON PIN; THENCE PROCEED NORTH 76 DEGREES 58 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 154.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 76 DEGREES 58 MINUTES 02 SECONDS EAST FOR A DISTANCE
OF 38.63 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 314.62 FEET TO AN IRON PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE OF 219.87 FEET TO AN IRON PIN; THENCE
PROCEED IN AN EASTERLY DIRECTION 19.67 FEET ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 1449.99 FEET TO A PK NAIL AND WASHER; THENCE SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 26.33 FEET TO AN IRON PIN;

  
 Exhibit
continued 

 
THENCE SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 220.00 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 177.50 FEET TO AN IRON
PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE OF 220.00 FEET TO AN IRON PIN ON THE SOUTHERLY RIGHT-OF-WAY OF ALTAMA CONNECTOR; THENCE PROCEED ALONG SAID RIGHT-OF-WAY SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A
DISTANCE OF 225.00 FEET TO AN IRON PIN; THENCE DEPARTING SAID SOUTHERLY RIGHT- OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 230.00 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A
DISTANCE OF 230.00 FEET TO A DRILL HOLE IN CONCRETE, THE SAID POINT OF BEGINNING. 
 SAID PARCEL CONTAINS 14.66 ACRES.

  
 Exhibit
continued 

 EXHIBIT 1.2 
 Intentionally omitted 

  
 Exhibit

 EXHIBIT 1.3 
 BILL OF SALE 
 FOR $1.00 RECEIVED as of
                    , 2012 and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, CRP
II - GLYNN PLACE LLC., a Delaware limited liability company (“Assignor”), does hereby quit claim, assign, transfer, convey and deliver to
                                         
                   , a
                                    , the undivided right,
title and interest in and to the personal property situated on and/or used in connection with the operation of that certain real property more particularly described on Schedule A attached hereto and incorporated herein by reference, to the
extent of Assignor’s right, title and interest, if any, therein or thereto, but without warranty of title, condition or otherwise. 
 IN WITNESS WHEREOF, Assignor has executed this Bill of Sale. 
  

					
	CRP II - GLYNN PLACE LLC,
	a Delaware limited liability company 
	
	By CRP II PARTNERS, LLC, its manager
		
	By:	 	  

		
	Name:	 	  

			
		 	Its:	 	  

			
		 		 	“Assignor”

  
 Exhibit

 SCHEDULE A TO BILL OF SALE 

Legal Description 
 COMBINED ALL THAT CERTAIN LOT, PARCEL OR TRACT OF LAND SITUATE, LYING AND BEING IN GEORGIA MILITIA DISTRICT NO. 26, GLYNN COUNTY, GEORGIA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING AT A DRILL HOLE IN CONCRETE WHOSE COORDINATES ARE: X = 714,390.586, Y = 442,060.672, GEORGIA COORDINATE SYSTEM, EAST ZONE, SAID
POINT ALSO BEING A POINT ON THE WESTERLY RIGHT-OF-WAY OF ALTAMA AVENUE; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 423.19 FEET TO AN IRON PIN; THENCE DEPARTING SAID WESTERLY
RIGHT-OF-WAY PROCEED NORTH 32 DEGREES 31 MINUTES 04 SECONDS WEST FOR A DISTANCE OF 28.28 FEET TO AN IRON PIN; THENCE PROCEED NORTH 77 DEGREES 31 MINUTES 04 SECONDS WEST FOR A DISTANCE OF 155.00 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 58 DEGREES 16
MINUTES 27 SECONDS WEST FOR A DISTANCE OF 41.91 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 193.61 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52 MINUTES 24 SECONDS WEST FOR A DISTANCE
OF 507.21 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52 MINUTES 24 SECONDS WEST FOR A DISTANCE OF 157.85 FEET TO AN IRON PIN; THENCE PROCEED NORTH 81 DEGREES 25 MINUTES 40 SECONDS WEST FOR A DISTANCE OF 2.32 FEET TO AN IRON PIN; THENCE
PROCEED NORTH 13 DEGREES 01 MINUTES 58 SECONDS WEST FOR A DISTANCE OF 170.54 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES 34 MINUTES 18 SECONDS EAST FOR A DISTANCE OF 50.27 FEET TO A POINT; THENCE PROCEED NORTH 12 DEGREES 24 MINUTES 16 SECONDS
EAST FOR A DISTANCE OF 264.45 FEET TO A POINT; THENCE PROCEED NORTH 77 DEGREES 32 MINUTES 57 SECONDS WEST FOR A DISTANCE OF 67.26 FEET TO A POINT; THENCE PROCEED NORTH 12 DEGREES 29 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 207.03 FEET TO A IRON
PIN; THENCE PROCEED NORTH 47 DEGREES 02 MINUTES 22 SECONDS WEST FOR A DISTANCE OF 58.90 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 76 DEGREES 58 MINUTES 02 SECONDS WEST FOR A DISTANCE OF 189.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 26 DEGREES 46
MINUTES 22 SECONDS EAST FOR A DISTANCE OF 54.67 FEET TO AN IRON PIN; THENCE PROCEED NORTH 76 DEGREES 58 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 154.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 76 DEGREES 58 MINUTES 02 SECONDS EAST FOR A DISTANCE
OF 38.63 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 314.62 FEET TO AN IRON PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE OF 219.87 FEET TO AN IRON PIN; THENCE
PROCEED IN AN EASTERLY DIRECTION 19.67 FEET ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 1449.99 FEET TO A PK NAIL AND WASHER; THENCE SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 26.33 FEET TO AN IRON PIN;

  
 Exhibit
continued 

 
THENCE SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 220.00 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 177.50 FEET TO AN IRON
PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE OF 220.00 FEET TO AN IRON PIN ON THE SOUTHERLY RIGHT-OF-WAY OF ALTAMA CONNECTOR; THENCE PROCEED ALONG SAID RIGHT-OF-WAY SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A
DISTANCE OF 225.00 FEET TO AN IRON PIN; THENCE DEPARTING SAID SOUTHERLY RIGHT- OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 230.00 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A
DISTANCE OF 230.00 FEET TO A DRILL HOLE IN CONCRETE, THE SAID POINT OF BEGINNING. 
 SAID PARCEL CONTAINS 14.66 ACRES.

  
 Exhibit
continued 

 EXHIBIT 1.8 

LIST OF CONTRACTS 

  
 Exhibit

 EXHIBIT 1.9 

DEED 
 This instrument
prepared by: 
  

	
	
                        
                                         
               

	
                        
                                         
               

	
                        
                                         
               

	
                        
                                         
               

 Property Appraiser’s 
 Parcel Identification 
 No.
                     

SPECIAL WARRANTY DEED 
 THIS SPECIAL WARRANTY DEED made this             day of
                                    , 2012, by CRP
II—GLYNN PLACE LLC, a Delaware limited liability company, whose mailing address is 102 W. Whiting Street, Suite 600, Tampa, Florida 33602, hereinafter called the GRANTOR to
                                         
                               , a
                                         
                               , whose mailing address is
                                         
                                         
                                         
                 , hereinafter called the GRANTEE. 
 W I T N E S S E T H: 
 That GRANTOR, for and in consideration of nominal
(but no monetary) consideration, receipt whereof is hereby acknowledged, by these presents does grant, bargain, sell, alien, remise, release, convey and confirm unto Grantee, all that certain land situated in Hillsborough County, Florida, viz:

 SEE EXHIBIT “A” ATTACHED HERETO FOR LEGAL DESCRIPTION; 

TOGETHER with all the tenements, hereditaments and appurtenances, with every privilege, right, title, interest and estate, reversion,
remainder and easement thereto belonging or in anywise appertaining. 
 TO HAVE AND TO HOLD the same in fee simple forever.

 And the Grantor does hereby covenant that, except for restrictions and matters appearing of record and all zoning,
restrictions, prohibition and other requirements imposed by governmental authority, the deed restrictions and the title exceptions set forth on Exhibit “B” attached hereto and made a part hereof, Grantor hereby covenants with said
Grantee that the Grantor is lawfully seized said land in fee simple; that the Grantor has good right and lawful authority to sell and convey said land; that the Grantor will defend the same against the lawful claims of all persons claiming by,
through or under the Grantor. 
 Wherever used herein, the terms “GRANTOR” and “GRANTEE” shall include the
heirs, personal representatives, successors and/or assigns of the respective parties hereto. 

  
 Exhibit

 IN WITNESS WHEREOF, the said GRANTOR has caused these presents to be signed the day and year
above written. 
 Signed, sealed and delivered 
 in the presence of: 
  

	
	 GRANTOR:
  

CRP II – GLYNN PLACE, LLC,
 a Delaware
limited liability company

	
	By CRP II PARTNERS, LLC, its manager
	
	By:                             
                                         
                
	Name:                             
                                         
           
	Its:                             
                                         
                

  

					
	
STATE OF                      
              
	 	 )
	 	
		 	) ss:	 	
	COUNTY OF                           
     	 	)	 	

 The foregoing instrument was acknowledged before me this
                     day of
                            , 2012 by
                                         
                                         
          , the manager of CRP II Partners, LLC, a Delaware limited liability company, the manager of CRP II – Glynn Place, LLC, a Delaware limited liability company, on behalf of the
company. 
  

			
		 	
          
                                         
                                         
     

		 	                          
                                         
     , Notary Public
		 	                           
                                 , County,     
                
		 	My commission expires:                      
                                  
		 	Acting in
                                         
         County,                 

  
 Exhibit
continued 

 EXHIBIT “A” 

Legal Description 

COMBINED ALL THAT CERTAIN LOT, PARCEL OR TRACT OF LAND SITUATE, LYING AND BEING IN GEORGIA MILITIA DISTRICT NO. 26, GLYNN COUNTY, GEORGIA, AND BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT A DRILL HOLE IN CONCRETE WHOSE COORDINATES ARE: X = 714,390.586, Y = 442,060.672, GEORGIA
COORDINATE SYSTEM, EAST ZONE, SAID POINT ALSO BEING A POINT ON THE WESTERLY RIGHT-OF-WAY OF ALTAMA AVENUE; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 423.19 FEET TO AN IRON PIN;
THENCE DEPARTING SAID WESTERLY RIGHT-OF-WAY PROCEED NORTH 32 DEGREES 31 MINUTES 04 SECONDS WEST FOR A DISTANCE OF 28.28 FEET TO AN IRON PIN; THENCE PROCEED NORTH 77 DEGREES 31 MINUTES 04 SECONDS WEST FOR A DISTANCE OF 155.00 FEET TO AN IRON PIN;
THENCE PROCEED SOUTH 58 DEGREES 16 MINUTES 27 SECONDS WEST FOR A DISTANCE OF 41.91 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 193.61 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52
MINUTES 24 SECONDS WEST FOR A DISTANCE OF 507.21 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52 MINUTES 24 SECONDS WEST FOR A DISTANCE OF 157.85 FEET TO AN IRON PIN; THENCE PROCEED NORTH 81 DEGREES 25 MINUTES 40 SECONDS WEST FOR A DISTANCE
OF 2.32 FEET TO AN IRON PIN; THENCE PROCEED NORTH 13 DEGREES 01 MINUTES 58 SECONDS WEST FOR A DISTANCE OF 170.54 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES 34 MINUTES 18 SECONDS EAST FOR A DISTANCE OF 50.27 FEET TO A POINT; THENCE PROCEED
NORTH 12 DEGREES 24 MINUTES 16 SECONDS EAST FOR A DISTANCE OF 264.45 FEET TO A POINT; THENCE PROCEED NORTH 77 DEGREES 32 MINUTES 57 SECONDS WEST FOR A DISTANCE OF 67.26 FEET TO A POINT; THENCE PROCEED NORTH 12 DEGREES 29 MINUTES 02 SECONDS EAST FOR
A DISTANCE OF 207.03 FEET TO A IRON PIN; THENCE PROCEED NORTH 47 DEGREES 02 MINUTES 22 SECONDS WEST FOR A DISTANCE OF 58.90 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 76 DEGREES 58 MINUTES 02 SECONDS WEST FOR A DISTANCE OF 189.50 FEET TO AN IRON PIN;
THENCE PROCEED NORTH 26 DEGREES 46 MINUTES 22 SECONDS EAST FOR A DISTANCE OF 54.67 FEET TO AN IRON PIN; THENCE PROCEED NORTH 76 DEGREES 58 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 154.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 76 DEGREES 58
MINUTES 02 SECONDS EAST FOR A DISTANCE OF 38.63 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 314.62 FEET TO AN IRON PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE
OF 219.87 FEET TO AN IRON PIN; THENCE PROCEED IN AN EASTERLY DIRECTION 19.67 FEET ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 1449.99 FEET TO A PK NAIL AND WASHER; THENCE SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 26.33 FEET TO
AN IRON PIN; 

  
 Exhibit
continued 

 
THENCE SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 220.00 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 177.50 FEET TO AN IRON
PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE OF 220.00 FEET TO AN IRON PIN ON THE SOUTHERLY RIGHT-OF-WAY OF ALTAMA CONNECTOR; THENCE PROCEED ALONG SAID RIGHT-OF-WAY SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A
DISTANCE OF 225.00 FEET TO AN IRON PIN; THENCE DEPARTING SAID SOUTHERLY RIGHT- OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 230.00 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A
DISTANCE OF 230.00 FEET TO A DRILL HOLE IN CONCRETE, THE SAID POINT OF BEGINNING. 
 SAID PARCEL CONTAINS 14.66 ACRES. 

  
 Exhibit
continued 

 EXHIBIT “B” 

Permitted Exceptions 
 1. The facts and other matters that would be shown on an accurate ALTA/ACSM Land Title Survey of the real property conveyed in this deed (the “Property”). 

2. All facts, matters and encumbrances relating to the Property disclosed in public records, but excluding any encumbrances, if any, that
Grantor agreed in writing to release, remove, cure or discharge. 
 3. All statutes, ordinances, rules, regulations, codes,
directives and laws of any of the various federal, state, county, parish and municipal governmental and quasi-governmental bodies or agencies having jurisdiction over the Property or any portions thereof (each an “Authority” and
collectively, the “Authorities”), and any binding written interpretations, binding written policies and binding written decisions relating thereto, and any amendments, modifications and supplements thereof, including without limitation,
any and all zoning ordinances and statutes, building codes, rules and regulations, and environmental laws, now or hereafter applicable to the Property or any portions thereof, or the use, ownership, occupancy or operation of the Property or any
portions thereof (collectively, “Governmental Regulations”). 
 4. The liens of real property taxes, business
improvement district, special and other assessments, water and sewer rents charged by Authorities, ad valorem taxes, personal property taxes and similar charges (collectively, “Taxes”), not yet due and payable. 

5. The leases and any subleases, licenses or other occupancies by or through the leases, and the rights of tenants under the leases and
any other parties in possession pursuant to any subleases, licenses or other occupancy agreements by or through the leases, as tenants only. 
 6. Notes or notices of violations of Governmental Regulations issued by any Authorities with respect to the Property and any conditions which could give rise to the issuance of any such note or notice,
any liens as a consequence of any actions taken by any Authority in connection with any such notes, notices or conditions and the liens of any fines or penalties relating thereto. 

7. Financing statements filed more than five (5) years prior to the date of the execution and delivery of this deed by Grantor and
not renewed, or filed against property or equipment owned or leased by tenants or other occupants of the Property, or relating to mortgages which have been satisfied of record. 

8. Rights of utility companies to lay, maintain, install and repair pipes, lines, poles, conduits, cable boxes and related equipment on,
over and under the Properties, provided such rights do not materially and adversely affect the ability of the Improvements to be used for their respective current uses. 
 9. Encroachments of stoops, areas, cellar steps, trim cornices, lintels, window sills, awnings, canopies, ledges, fences, hedges, coping and retaining walls projecting from the improvements on the
Property over any street or highway or over any adjoining property, encroachments from any adjoining property onto the Property and any party walls and rights deriving therefrom, provided such matters do not materially and adversely affect the
ability of the improvements to be used for their respective current uses. 
 10. Revocability or lack of right to maintain
vaults, coal chutes, excavations or sub-surface equipment beyond the record lines of the Property. 

  
 41 

 11. Mechanics’ liens, materialman’s liens, artisan’s liens, and any other
encumbrances, if any, which are required to be removed or bonded by a tenant at the Property. 
 12. Instruments that sever,
reserve and/or transfer any mineral rights. 
 13. Any liens or other encumbrances associated with the indebtedness or other
obligations, if any, assumed in writing by Grantee. 

  
 Exhibit
continued 

 EXHIBIT 1.20 

PERSONALTY LIST 
 None. 

  
 Exhibit

 EXHIBIT 1.22 
 LEGAL DESCRIPTION 
 COMBINED ALL THAT CERTAIN LOT, PARCEL OR TRACT
OF LAND SITUATE, LYING AND BEING IN GEORGIA MILITIA DISTRICT NO. 26, GLYNN COUNTY, GEORGIA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT A DRILL HOLE IN CONCRETE WHOSE COORDINATES ARE: X = 714,390.586, Y = 442,060.672, GEORGIA COORDINATE SYSTEM, EAST ZONE, SAID POINT ALSO BEING A POINT ON THE WESTERLY RIGHT-OF-WAY OF ALTAMA
AVENUE; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 423.19 FEET TO AN IRON PIN; THENCE DEPARTING SAID WESTERLY RIGHT-OF-WAY PROCEED NORTH 32 DEGREES 31 MINUTES 04 SECONDS WEST FOR A
DISTANCE OF 28.28 FEET TO AN IRON PIN; THENCE PROCEED NORTH 77 DEGREES 31 MINUTES 04 SECONDS WEST FOR A DISTANCE OF 155.00 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 58 DEGREES 16 MINUTES 27 SECONDS WEST FOR A DISTANCE OF 41.91 FEET TO AN IRON PIN;
THENCE PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 193.61 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52 MINUTES 24 SECONDS WEST FOR A DISTANCE OF 507.21 FEET TO AN IRON PIN; THENCE PROCEED NORTH 83 DEGREES 52
MINUTES 24 SECONDS WEST FOR A DISTANCE OF 157.85 FEET TO AN IRON PIN; THENCE PROCEED NORTH 81 DEGREES 25 MINUTES 40 SECONDS WEST FOR A DISTANCE OF 2.32 FEET TO AN IRON PIN; THENCE PROCEED NORTH 13 DEGREES 01 MINUTES 58 SECONDS WEST FOR A DISTANCE OF
170.54 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES 34 MINUTES 18 SECONDS EAST FOR A DISTANCE OF 50.27 FEET TO A POINT; THENCE PROCEED NORTH 12 DEGREES 24 MINUTES 16 SECONDS EAST FOR A DISTANCE OF 264.45 FEET TO A POINT; THENCE PROCEED NORTH 77
DEGREES 32 MINUTES 57 SECONDS WEST FOR A DISTANCE OF 67.26 FEET TO A POINT; THENCE PROCEED NORTH 12 DEGREES 29 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 207.03 FEET TO A IRON PIN; THENCE PROCEED NORTH 47 DEGREES 02 MINUTES 22 SECONDS WEST FOR A
DISTANCE OF 58.90 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 76 DEGREES 58 MINUTES 02 SECONDS WEST FOR A DISTANCE OF 189.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 26 DEGREES 46 MINUTES 22 SECONDS EAST FOR A DISTANCE OF 54.67 FEET TO AN IRON PIN;
THENCE PROCEED NORTH 76 DEGREES 58 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 154.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 76 DEGREES 58 MINUTES 02 SECONDS EAST FOR A DISTANCE OF 38.63 FEET TO AN IRON PIN; THENCE PROCEED SOUTH 77 DEGREES 31
MINUTES 04 SECONDS EAST FOR A DISTANCE OF 314.62 FEET TO AN IRON PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE OF 219.87 FEET TO AN IRON PIN; THENCE PROCEED IN AN EASTERLY DIRECTION 19.67 FEET ALONG A CURVE TO THE
RIGHT HAVING A RADIUS OF 1449.99 FEET TO A PK NAIL AND WASHER; THENCE SOUTH 77 DEGREES 31 

  
 Exhibit

 
MINUTES 04 SECONDS EAST FOR A DISTANCE OF 26.33 FEET TO AN IRON PIN; THENCE SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 220.00 FEET TO A POINT; THENCE PROCEED SOUTH 77 DEGREES
31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 177.50 FEET TO AN IRON PIN; THENCE PROCEED NORTH 12 DEGREES 28 MINUTES 56 SECONDS EAST FOR A DISTANCE OF 220.00 FEET TO AN IRON PIN ON THE SOUTHERLY RIGHT-OF-WAY OF ALTAMA CONNECTOR; THENCE PROCEED ALONG
SAID RIGHT-OF-WAY SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 225.00 FEET TO AN IRON PIN; THENCE DEPARTING SAID SOUTHERLY RIGHT- OF-WAY PROCEED SOUTH 12 DEGREES 28 MINUTES 56 SECONDS WEST FOR A DISTANCE OF 230.00 FEET TO AN IRON
PIN; THENCE PROCEED SOUTH 77 DEGREES 31 MINUTES 04 SECONDS EAST FOR A DISTANCE OF 230.00 FEET TO A DRILL HOLE IN CONCRETE, THE SAID POINT OF BEGINNING. 
 SAID PARCEL CONTAINS 14.66 ACRES. 

  
 Exhibit
continued 

 EXHIBIT 1.25 
 RENT ROLL 

  
 Exhibit

 EXHIBIT 1.26 
 SELLER’S DOCUMENTS 
 SELLER’S DOCUMENTS EXHIBIT

 Description 

Accounting 
 Operating Budget
– Current year 
 Income Statements – YTD and 5 year historical (by Quarter) (Purchaser acknowledges that Seller has only owned the
Property since May 2010, and as such, will provide historical information during its ownership and any information in its possession from previous owner) 
 Capital Budget – YTD and 3 year historical (Purchaser acknowledges that Seller has only owned the Property since May 2010, and as such, will provide historical information during its ownership and
any information in its possession from previous owner) 
 Real Estate Bills and Appeals – 3 year historical (To extent in
Seller’s possession) 
 CAM, Real Estate Tax and Insurance Reconciliations – 3 year historical (To extent in Seller’s
possession) 
 Schedule of Security Deposits and Prepaid Rents 
 Trial Balance – Current Quarter 
 Detail of Cash Receipts and Disbursements Journal –
YTD and Prior Year 
 Representation letter in support of the historical financial information 

Support for any allocated expenses allocated to property in prior year and current year 
 Operations 
 Warranties (roof, HVAC, elevator, etc.) 

Vendor Contact List & Vendor Contracts (landscaping, sweeping, snow, trash, etc.) 
 Copies of all bills for prior 12 months (electric, water, phone, landscape, lot sweeping, etc.) 
 Schedule of utility meters and required deposits (gas, electric, telephone, water, etc.) 

Tenant Information 
 Leases,
Amendments, Assignments, Addendums, Commencement Date Letters and Letter Agreements for all tenants 
 Tenant Correspondence files for all
tenants (These will be made available at property manager’s office but not provided electronically) 
 Lease Abstracts for all tenants

 Tenant Contact Sheet and Guarantor Contact Sheet (name, address, phone number) (To extent in Seller’s possession) 

  
 Exhibit

 Rent Roll – Prior Year and Current Year (by Quarter) 

Tenant Improvement Construction Contracts (for work in progress) 
 Schedule of unpaid Tenant Improvements 
 Schedule of unpaid Lease Commissions 

Schedule of Pending Leases; LOl’s Under Negotiation; Leases Out for Signature 
 Tenant Sales Information – YTD and 5 year historical (To extent in Seller’s possession) 

Tenant Invoices – Most recent calendar month 
 Tenant Delinquency Report – Current and previous 3 calendar years (Purchaser acknowledges that Seller has only owned the Property since May 2010, and as such, will provide historical
information during its ownership and any information in its possession from previous owner) 
 Tenant Rent Checks – Most recent calendar
month 
 Tenant Certificates of Insurance (To extent in Seller’s possession) 
 Tenant Certificates of Occupancy (To extent in Seller’s possession) 
 Tenant Financial
Statements (To extent in Seller’s possession) 
 Construction 
 Site Plan 
 Title 
 Owner’s Title Insurance Policy & Recorded title documents 
 Title Insurance
Claims History – 3 years historical 
 Schedule of all pending title litigation 
 Other 
 Environmental Reports (Phase I, Phase II, etc.) & Environmental
correspondence 
 ALTA As-Built Survey 

  
 Exhibit
continued 

 EXHIBIT 3.7 
 ESTOPPEL CERTIFICATE 
  

							
		  		  	Date:
                                    	  	
	To:	  	                 Bank, National Association	  	
		  	
                    
                     
	  		  	
		  	
                    
                     
	  		  	

 and 
 The
Phillips Edison Group LLC 
 11501 Northlake Drive 
 Cincinnati, Ohio 45249 
  

					
	Re:	  	PURCHASER:	 	
                    
                                         
    

		  	LANDLORD:	 	
                    
                                         
    

		  	TENANT:	 	
                    
                                         
    

		  	LEASE:	 	
                    
                                         
    

		  	PREMISES:	 	
                    
                                         
    

 In consideration of Purchaser’s pending acquisition of the shopping center in which the Premises are
located, and the loan (“Loan”) with respect thereto to be extended by
                                         
                                       , National
Association (“Lender”) to Purchaser secured by, among other things, a mortgage on the above described Premises (the “Mortgage”), and in consideration of the mutual promises between Landlord and Tenant in that certain Lease
referred to herein, Tenant hereby certifies to and agrees with Purchaser and Lender and their respective successors, successors in interest and assigns as follows: 
 1. The leased premises, consisting of              square feet, including all improvements, appurtenances, common areas and parking, as
constructed, satisfy the requirements of the Lease and have been accepted and approved in all respects by Tenant, and are open for the use of Tenant, its employees, customers, and invitees. 

2. The above-referenced Lease represents the entire agreement between Landlord and Tenant, and the Lease is in full force and effect, has
not been assigned, modified, supplemented or amended in any way, except as follows:                     . 

3. The most recent date of commencement of rentals due under the Lease (or extension of the Lease) was
                    ; all rents have been paid from the date of commencement to this date, at the rental rates described in the Lease (or as
extended), the base rent currently being $                     per month
($                     per year); no rents have been nor will be prepaid more than one month in advance; and there are no rent concessions of
any nature to which Tenant may at any time be entitled. 
 4. The Lease (or current extension) is for a term of
                     years commencing on
                     and ending on
                    ; and in addition, Tenant has the following renewal options:
                    . 
 5. All conditions of the Lease to be performed by Landlord, and necessary to the enforceability of the Lease, have been satisfied; there are no defaults under the Lease, nor any conditions which would

  
 Exhibit (iii)

 
become a default at the expiration of a grace period or upon notice; and there are no existing defenses or offsets which Tenant has against Landlord. 

6. Tenant has on deposit with Landlord the sum of $             as a
security deposit. Should Lender succeed to title by foreclosure or deed in lieu of foreclosure, no claims shall be asserted against Lender for the return of any security deposit paid by Tenant, unless Lender shall have received the amount of any
such security deposit at the time title is acquired. 
 7. Landlord and Tenant agree that the Lease is junior and subordinate to
the lien of the Mortgage, and any modifications or extensions of such Mortgage. Tenant specifically acknowledges that Lender may, at its option, and without further notice or consent of Tenant, subordinate the lien of the Mortgage to the Lease.

 8. Tenant has received no notice of a prior sale, transfer, assignment, hypothecation or pledge of said Lease or of the rents
secured therein, except to Lender. 
 9. Anything in the Lease to the contrary notwithstanding, Tenant agrees that it will not
terminate the Lease for any default on the part of the Landlord without first having given written notice to Lender, specifying the nature of any such default and permitting Lender 30 days after the date of such notice to cure or cause such default
to be cured. If circumstances are such that said default cannot be reasonably secured within said 30 day period, then the grace period shall be extended to a “reasonable period of time.” Tenant acknowledges that the address to which
notices shall be given to Landlord is the address listed above. 
 10. The Lease shall not be cancelled, surrendered or merged
in the ownership of the fee of the leased premises except as specifically provided by the terms of the Lease. 
 11. The Lease
contains no provisions granting to Tenant any options to purchase or rights of first refusal regarding the leased premises or the real property which includes the leased premises. 

12. Tenant further acknowledges that Purchaser, upon its acquisition of the Premises, may assign the landlord’s interest in the
Lease to Lender to secure the Loan; Tenant agrees to pay all rent and other sums due under the Lease directly to Lender, upon written notice from Lender activating any such assignment. 

13. Tenant acknowledges that Purchaser may disclose to Lender any information disclosed to Purchaser pursuant to the Lease terms
concerning gross sales, receipts, percentage rent, etc. 
 14. Tenant understands that this Certificate is being executed as one
of the inducements to Purchaser to acquire the Premises and to Lender to extend the Loan. This Certificate may be relied upon by Purchaser, Lender and their respective successors, successors in interest and assigns. 

IN WITNESS WHEREOF, Tenant has caused this instrument to be executed this
            day of                     , 2012. 

 

			
	TENANT:
	
	
                    
                                         
                          

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Exhibit (iii)

 Subordination, Non-Disturbance 
 and Attornment Agreement 
 THIS SUBORDINATION, NON-DISTURBANCE AND
ATTORNMENT AGREEMENT (this “Agreement”) dated as of this              day of
                    , 2012, by and among
                         BANK, NATIONAL ASSOCIATION (the “Mortgagee”), with an address at
                                         
       ,
                                        
     a                                  (the
“Landlord”), with an address at
                                         
                               , and
                                         
            (the “Tenant”), with an address at
                                         
                                         
                              ; 

WITNESSETH THAT: 
 WHEREAS, the Landlord is the fee owner of that certain real property located in
                                ,
                                , and more particularly described in Exhibit
“A” attached hereto (the “Property”); and 
 WHEREAS, pursuant to a Loan Agreement or
Letter Agreement dated                      ,              (the
“Agreement”) and/or a promissory note dated                      ,
            (the “Note”), the Mortgagee made a loan to the Landlord (or to
                                    ). The obligations under
the Agreement and Note are secured by a mortgage instrument covering the Property (the “Mortgage”) dated                     
        ,             , from the Landlord to the Mortgagee, and recorded or to be recorded in the real estate records of the aforesaid
County and State, and are also secured by an assignment of the Landlord’s interest in all leases of the Property (the “Assignment”) dated
                    ,
                    , and recorded or to be recorded in the real estate records of the aforesaid County and State (the Agreement, Note,
Mortgage, Assignment and any and all other documents executed in connection with the Loan, as the same may be amended, renewed, replaced or supplemented from time to time, collectively the “Loan Documents”); and 

WHEREAS, under the terms of a certain Lease Agreement dated
                     ,              (the “Lease”),
the Landlord leased to the Tenant all or certain portions of the Property described in the Lease (the “Demised Premises”) under the terms and conditions more particularly described therein; and 

WHEREAS, the Mortgage provides that the Lease shall be subordinate to the Mortgage and the parties hereto desire to confirm such
subordination and to establish rights of quiet and peaceful possession for the benefit of the Tenant under the Lease and to define the terms, covenants and conditions precedent for such rights. 

  

 NOW, THEREFORE, in consideration of the mutual promises and covenants herein
contained and intending to be legally bound, the parties hereto agree as follows: 
 1. Subordination of Lease.
The Lease and the entire right, title and interest of the Tenant thereunder are and shall be subject and subordinate in all respects to the lien, right, title and terms of the Loan Documents and, in particular, the Mortgage and all advances made or
to be made thereunder. 
 2. Consent of Tenant. The Tenant acknowledges notice of and consents to the Mortgage,
the Assignment and the terms and conditions thereof. The Tenant agrees to continue making payments of rent and other amounts owed under the Lease to the Landlord, and to otherwise recognize the rights of the Landlord under the Lease, until notified
otherwise in writing by the Mortgagee, as herein provided. The Landlord and Tenant agree that, if the Mortgagee delivers to the Tenant a notice stating that a default has occurred under the Loan Documents and requesting that all payments due under
the Lease be thereafter paid directly to the Mortgagee, the Tenant shall thereafter make, and is hereby authorized and directed by the Landlord to make, all such payments directly to the Mortgagee, as provided in the Mortgage and the Assignment,
without any duty of further inquiry on the part of the Tenant. 
 3. Tenant’s Duty to Notify Mortgagee of any Default
Under the Lease. The Tenant shall provide the Mortgagee with prompt notice of any asserted default against the Landlord under the Lease. In the event of any act or omission of the Landlord which would give the Tenant the right, immediately
or after lapse of time, to cancel or terminate the Lease, or to claim a partial or total eviction or to exercise any other remedy, the Tenant shall not exercise such right or remedy until Mortgagee has received notice and a reasonable period of time
to cure said default, said cure period commencing after the end of Landlord’s cure period and after Mortgagee is entitled under the Mortgage and the Assignment to remedy same; provided that the Mortgagee shall give the Tenant written notice of
its intention to, and shall commence and continue with due diligence to, remedy such act or omission. Notwithstanding the foregoing, the Mortgagee shall have no obligation to remedy or to continue to remedy any such act or omission. 

4. Nondisturbance of Tenant. Provided (i) the Lease shall at all times be in full force and effect, (ii) the term
of the Lease has commenced, (iii) the Tenant is in actual possession of the Demised Premises, and (iv) the Tenant shall not be in default thereunder or under this Agreement, then: 

(a) The right of possession by the Tenant to the Demised Premises and any or all of the Tenant’s rights under the Lease shall not be
terminated by the Mortgagee (or by anyone claiming by, through or under the Mortgagee) in the exercise of any of the Mortgagee’s rights under the Loan Documents. 
 (b) The Tenant shall not be named as a party defendant to any foreclosure of the lien of the Mortgage for the purpose of terminating the Lease, unless Mortgagee is required by any applicable law, order,
regulation, rule of court or judicial decision to name the Tenant as a party defendant. 
 (c) If the Mortgagee or its
successors or assigns comes into possession of the Property (through receivership, as a mortgagee in possession, or otherwise) or acquires the leasehold interest of the Landlord by foreclosure of the Mortgage, or by proceedings under the Loan
Documents, deed in lieu or otherwise, the Lease shall not be terminated by any such foreclosure or proceedings; and the Lease shall continue in full force and effect upon the Tenant’s attornment, as hereinafter provided, as a direct lease
between the Tenant and the Mortgagee upon all the terms, covenants, conditions and agreements set forth in the Lease and this Agreement. 

  
 Exhibit (iii)

 (d) If the Property or the Landlord’s leasehold interest therein is sold or otherwise
disposed of pursuant to any right or power contained in the Loan Documents or as a result of proceedings thereon, the Lease shall not be terminated thereby, and the Foreclosure Purchaser of the Property or of the Landlord’s leasehold interest
therein or any person acquiring title thereto shall so acquire the Property or such interest, subject to the Lease; and the Lease shall continue in full force and effect upon the Tenant’s attornment, as hereinafter provided, as a direct lease
between the Tenant and any party acquiring title to the Landlord’s leasehold interest therein, as aforesaid, upon all the terms, covenants, conditions and agreements set forth in the Lease. 

5. Attornment of Tenant to Mortgagee or Foreclosure Purchaser. If the Mortgagee or any Foreclosure Purchaser shall succeed
to the rights of the Landlord under the Lease, then the Tenant shall attorn to and recognize the Mortgagee or such Foreclosure Purchaser as the Tenant’s landlord under the Lease and the Mortgagee or such Foreclosure Purchaser shall be
conclusively deemed to have accepted such attornment. Such attornment shall be self-operative and effective without execution and delivery of any further instrument, immediately upon the Mortgagee’s or any Foreclosure Purchaser’s
succession to the interest of the Landlord under the Lease. Upon such attornment, the Lease shall continue in full force and effect as a direct lease between the Mortgagee or such Foreclosure Purchaser and the Tenant except that the Mortgagee or
such Foreclosure Purchaser shall not be bound by any amendment or modification of the Lease made without the Mortgagee’s written consent and except that the Mortgagee or such Foreclosure Purchaser shall not be liable to the Tenant: 

(a) For any past act, default or omission on the part of the Landlord or for any accrued obligation of the Landlord under the Lease and
the Tenant shall have no right to assert the same or any damages arising therefrom as an offset or defense against the Mortgagee or such Foreclosure Purchaser; 
 (b) For the commencement or completion of any construction or any contribution toward construction or installation of any improvements upon the Demised Premises, or any expansion or rehabilitation of
existing improvements thereon, or for restoration of improvements following any casualty not required to be insured under the Lease or for the costs of any restoration in excess of the proceeds recovered under any insurance required to be carried
under the Lease; or 
 (c) For any prepayment of rent, rental security or any other sums deposited with the Landlord under the
Lease and not actually delivered to the Mortgagee or such Foreclosure Purchaser. 
 The Mortgagee or such Foreclosure Purchaser
shall be liable to the Tenant under the Lease only during the Mortgagee’s or such Foreclosure Purchaser’s period of ownership, and such liability shall not continue or survive as to the transferor after a transfer by the Mortgagee or such
Foreclosure Purchaser of its interest in the Lease and the Demised Premises. Notwithstanding anything to the contrary contained herein, officers, directors, shareholders, agents, servants and employees of the Mortgagee shall have no personal
liability to Tenant and the liability of the Mortgagee shall be limited to the Mortgagee’s interest in the Property. 

6. Modification of Lease. Without the Mortgagee’s prior written consent, the Tenant shall not (a) amend or
terminate the Lease, (b) prepay any rent or other sums due under the Lease for more than one month in advance of the due dates thereof, (c) voluntarily surrender the Demised Premises, or (d) assign the Lease or sublet the Demised
Premises or any part thereof other than pursuant to the provisions of the Lease. 

  
 Exhibit (iii)

 7. Representations of Tenant. The Tenant represents and warrants to the
Mortgagee that (a) the Tenant occupies and is the leasehold owner of the Demised Premises pursuant to the terms of the Lease, (b) the Lease is in full force and effect, and the Tenant has no offsets or defenses to the payment of rent or
other sums due thereunder, (c) no default exists under the Lease, and (d) all rent and other sums due under the Lease have been paid in full, but have not been paid for more than one month in advance of the due dates thereof. 

8. Application of Casualty Insurance Proceeds and Condemnation Awards. The Tenant hereby agrees that, notwithstanding
anything to the contrary contained in the Lease, the terms and provisions of the Mortgage with respect to the application of casualty insurance proceeds and condemnation awards shall control. 

9. Confirmation of Lease Status. The Landlord and the Tenant hereby agree that, upon the Mortgagee’s request, they
shall from time to time execute and deliver to the Mortgagee, and without charge to the Mortgagee, an estoppel certificate setting forth whatever information the Mortgagee may reasonably require to confirm the current status of the Lease including,
without limitation, a confirmation that the Lease is and remains in full force and effect. 
 10. Notices. All
notices, demands, requests, consents, approvals and other communications required or permitted hereunder must be in writing and will be effective upon receipt. Such notices and other communications may be hand-delivered, sent by facsimile
transmission with confirmation of delivery and a copy sent by first-class mail, or sent by nationally recognized overnight courier service, to a party’s address set forth above or to such other address as any party may give to the other in
writing for such purpose. 
 11. Changes in Writing. No modification, amendment or waiver of, or consent to any
departure from, any provision of this Agreement nor consent to any departure by the Landlord or Tenant therefrom will be effective unless made in a writing signed by the Mortgagee, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. No notice to or demand on the Landlord or Tenant in any case will entitle the Landlord or Tenant to any other or further notice or demand in the same, similar or other circumstance. 

12. Entire Agreement. This Agreement constitutes the entire agreement and supersedes all other prior agreements and
understandings, both written and oral, between the parties with respect to the subject matter hereof. 
 13.
Counterparts. This Agreement may be signed in any number of counterpart copies and by the parties hereto on separate counterparts, but all such copies shall constitute one and the same instrument. Delivery of an executed counterpart of a
signature page to this Agreement by facsimile transmission shall be effective as delivery of a manually executed counterpart. Any party so executing this Agreement by facsimile transmission shall promptly deliver a manually executed counterpart,
provided that any failure to do so shall not affect the validity of the counterpart executed by facsimile transmission. 

14. Definitions. As used in this Agreement, the word “Tenant” shall mean the Tenant and/or the subsequent holder
of an interest under the Lease, provided the interest of such holder is acquired in accordance with the terms and provisions of the Lease, the word “Mortgagee” shall mean the Mortgagee or any subsequent holder or holders of the Mortgage
and the Assignment, and the word “Foreclosure Purchaser” shall mean any party other than the Mortgagee acquiring title to the Property by purchase at a foreclosure sale, by deed or otherwise. Subject to the foregoing, this Agreement shall
bind and inure to 

  
 Exhibit (iii)

 
the benefit of the Landlord, the Tenant and the Mortgagee, their heirs, legal representatives, successors and assigns. 
 15. Governing Law and Jurisdiction. This Agreement has been delivered to and accepted by the Mortgagee and will be deemed to be made in the State where the Mortgagee’s office indicated
above is located. THIS AGREEMENT WILL BE INTERPRETED AND THE RIGHTS AND LIABILITIES
OF THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE LAWS OF THE
STATE WHERE THE MORTGAGEE’S OFFICE INDICATED ABOVE IS LOCATED, EXCLUDING
ITS CONFLICT OF LAWS RULES. The Landlord and the Tenant hereby irrevocably consent to the exclusive jurisdiction of any state or federal court in the county or judicial
district where the Mortgagee’s office indicated above is located; provided that nothing contained in this Agreement will prevent the Mortgagee from bringing any action, enforcing any award or judgment or exercising any rights against the
Landlord or Tenant individually, against any security or against any property of the Landlord or Tenant within any other county, state or other foreign or domestic jurisdiction. The Mortgagee, the Landlord and the Tenant agree that the venue
provided above is the most convenient forum for the Mortgagee, the Landlord and the Tenant. The Landlord and the Tenant waive any objection to venue and any objection based on a more convenient forum that either may have in any action instituted
under this Agreement. 
 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 

  
 Exhibit (iii)

 16. WAIVER OF JURY TRIAL. EACH OF THE LANDLORD, THE TENANT AND THE
MORTGAGEE IRREVOCABLY WAIVE ANY AND ALL RIGHT THAT ANY MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS AGREEMENT, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED
IN ANY OF SUCH DOCUMENTS. THE LANDLORD, THE TENANT AND THE MORTGAGEE ACKNOWLEDGE THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY. 

The Landlord and the Tenant acknowledge that each has read and understood all the provisions of this Agreement, including the waiver of jury trial,
and has been advised by counsel as necessary or appropriate. 
 WITNESS the due execution hereof as a document under seal, as of the
date first written above. 
  

					
	WITNESS / ATTEST:	  		  	MORTGAGEE:
			
		  		  	                     BANK, NATIONAL ASSOCIATION
			
	                             
                                         
                   
	  		  	By:
                                         
                                         

		  		  	                           
                                     (SEAL)
	 Print Name:
                                         
                           
	  		  	Print Name:
                                         
                           
		  		  	Title:
                                         
                                       

			
		  		  	LANDLORD:
			
		  		  	                             
                                         
                  ,
		  		  	a
                                         
                                       

			
	                             
                                         
                   
	  		  	By:
                                         
                                         

		  		  	                           
                                     (SEAL)
	 Print Name:
                                         
                           
	  		  	Print Name:
                                         
                           
	 Title:
                                         
                                       

	  		  	Title:
                                         
                                       

			
		  		  	TENANT:
			
		  		  	                             
                                         
                                         
     
			
	                             
                                         
                   
	  		  	By:
                                        
                                         
 
		  		  	                           
                                     (SEAL)
	 Print Name:
                                         
                           
	  		  	 Print Name:
                                         
                           

	 Title:
                                         
                                       

	  		  	Title:
                                         
                                       

  
 Exhibit (iii)

 [COMPLETE APPLICABLE NOTARY CLAUSE(S) AND DELETE THE REST] 

ACKNOWLEDGMENTS 
  

	
	STATE
OF                                        
                         )
	                              
                                 
                    )              ss:
	COUNTY
OF                                        
                    )

 On this, the              day of
                            ,
            , before me, a Notary Public, the undersigned officer, personally appeared
                                         
       , known to me (or satisfactorily proven) to be the person whose name is subscribed to the foregoing instrument, and acknowledged that he/she executed the same for the purposes therein contained.

 IN WITNESS WHEREOF, I hereunto set my hand and official seal. 

 

	
	  

	 Notary Public

 My commission expires:
                                         
    
  

	
	STATE
OF                                        
                        )
	                             
                                         
             )            ss:
	COUNTY
OF                                        
                    )

 On this, the              day of
                                ,
            , before me, a Notary Public, the undersigned officer, personally appeared
                                         
       , who acknowledged himself/herself to be the
                                        
of
                                         
       , a[n]
                                         
                       , and that he/she, in such capacity, being authorized to do so, executed the foregoing instrument for the
purposes therein contained by signing on behalf of said
                                         
   . 
 IN WITNESS WHEREOF, I hereunto set my hand and official seal. 

 

	
	  

	Notary Public

 My commission expires:
                                         
    

  
 Exhibit (iii)

	
	STATE OF
                                         
                        )
	                              
                                  
                    )              ss:
	COUNTY OF
                                        
                    )

 On this, the              day of
                                ,
            , before me, a Notary Public, the undersigned officer, personally appeared
                                         
   , who acknowledged himself/herself to be the
                                         
    of              BANK, NATIONAL ASSOCIATION and that he/she, as such officer, being authorized to do so, executed the foregoing instrument for the purposes
therein contained by signing on behalf of said bank as such officer. 
 IN WITNESS WHEREOF, I hereunto set my hand and official
seal. 
  

	
	  

	Notary Public

 My commission expires:
                                         
    
 This instrument prepared by and to be returned to: 
              Bank, National Association 
                                  
                                         
                                         
                                         
                                         
                               
                                  
                                         
                                         
                                         
                                         
                               
 Attn:                                
                               

  
 Exhibit (iii)

 EXHIBIT A 

Property Description 

  
 Exhibit (iii)

 EXHIBIT 8.11 
 NOTICE TO TENANTS 

                      
  , 2012 
  
 _____________________ 

_____________________ 
 _____________________

 _____________________ 

            Re: Sale of Shopping Center 

                  Village at Glynn Place 

                  Brunswick, Georgia 

Please be advised that on
                        , 2012, CRP II – Glynn Place LLC conveyed the Village at Glynn Place and assigned your lease
to                             . Your security deposit, if any, transferred to the new owner.

 All amounts due prior to the conveyance remain payable to
                        . Beginning with your next payment, your rent should be sent to
                             at
                            ,
                            ,
            . 
  

			
	Sincerely
	CRP II - GLYNN PLACE LLC
		
	By:	 	
                    
                                         
    

	Name:	 	
                    
                                         

	Its:	 	
                    
                                         
    

  
 Exhibit

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