Document:

EX-10.1

AMENDMENT NO. 1 TO

SENIOR SECURED SUPER-PRIORITY

DEBTOR IN POSSESSION

CREDIT AND SECURITY AGREEMENT

AMENDMENT NO. 1 TO SENIOR SECURED SUPER-PRIORITY DEBTOR IN POSSESSION CREDIT AND SECURITY
AGREEMENT, dated as of March 15, 2008 (this “Amendment”), is entered into among TOUSA,
INC., a Delaware corporation (the “Administrative Borrower”), each subsidiary of
the Administrative Borrower listed on Schedule I as a “Subsidiary Borrower” (each, a
“Subsidiary Borrower” and collectively, the “Subsidiary Borrowers;” together with
the Administrative Borrower, each a “Borrower” and collectively, the “Borrowers”),
each a debtor and debtor-in-possession in the cases pending under Chapter 11 of the Bankruptcy Code
(as defined below) the “Borrowers”), the Lenders and Issuers (each as defined below) and
CITICORP NORTH AMERICA, INC., as Administrative Agent (in such capacity, the
“Administrative Agent”), and amends the Senior Secured Super-Priority Debtor in Possession
Credit and Security Agreement, dated as of January 29, 2008 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among the Borrowers, the institutions
from time to time party thereto as lenders (the “Lenders”) and as Issuers (the
“Issuers”), the Administrative Agent, and the other agents, arrangers and bookrunners named
therein. Capitalized terms used herein and not otherwise defined herein shall have the meanings
ascribed to them in the Credit Agreement.

PRELIMINARY STATEMENTS

(1) On January 29, 2008 (the “Petition Date”), each of the Borrowers filed voluntary
petitions in the United States Bankruptcy Court for the Southern District of Florida, Fort
Lauderdale division (the “Bankruptcy Court”) for relief (the “Cases”) under
Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) and have continued in the
possession of their assets and in the management of their businesses pursuant to Sections 1107 and
1108 of the Bankruptcy Code.

(2) The Borrowers, the Issuers, the Lenders and the Administrative Agent entered into the
Credit Agreement and now desire to amend the Credit Agreement in order to effect the changes
described below.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this
Amendment, and for other good and valuable consideration, the receipt and sufficiency of which
hereby are acknowledged, the parties hereto agree as follows:

	 	 	 	Section 1. Amendments to the Credit Agreement.

(a) Section 1.1 of the Credit Agreement is hereby amended by inserting the following new
definition in the appropriate alphabetical order:

“Interim Termination Date” means April 30, 2008 or, at the request of the
Administrative Borrower and with the written consent of the Administrative Agent (which
consent may be granted or withheld in the sole discretion of the Administrative Agent) prior
to April 30, 2008, a date not later than May 30, 2008.

(b) The definition of “Base Rate” set forth in Section 1.1 of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

“Base Rate” means the greater of (i) the interest rate per annum publicly
announced from time to time by the Administrative Agent at its Domestic Lending Office as
its then base rate, and (ii) the Federal Funds Rate plus 0.50% per annum;
provided, however, that in no event shall the Base Rate be less than 5.75%
per annum.

(c) The definition of “Scheduled Termination Date” set forth in Section 1.1 of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

“Scheduled Termination Date” means, (i) if the Roll-Up Event does not occur and
the Final Order is not entered by the Bankruptcy Court by the Interim Termination Date, the
Interim Termination Date, (ii) if the Roll-Up Event does not occur and the Final Order is
entered with respect to the Interim/Permanent Commitment by the Interim Termination Date,
December 31, 2008 or (iii) if the Roll-Up Date occurs, December 31, 2008.

(d) The third sentence of Section 2.2(a) of the Credit Agreement is hereby amended by adding
the following proviso at the end thereof:

; provided, however, prior to the Interim Termination Date, the
Administrative Borrower shall not request, and the Administrative Agent and each Lender
shall in no way be obligated to make, Eurodollar Rate Loans.

(e) Section 2.9(a) of the Credit Agreement is hereby amended by adding the following sentence
at the end thereof:

Notwithstanding the foregoing, prior to the Interim Termination Date, the Administrative
Borrower shall not elect (i) to convert Base Rate Loans or any portion thereof to Eurodollar
Rate Loans, or (ii) to continue Eurodollar Rate Loans or any portion thereof for an
additional Interest Period.

(f) The first paragraph of Section 3.2 of the Credit Agreement is hereby amended and restated
in its entirety to read as follows:

The obligation of each Lender to make any Loan and of each Issuer to Issue any Letter of
Credit (i) under the Interim/Permanent Commitment if the Roll-Up Event has not occurred by
the Interim Termination Date or (ii) under the Roll-up Commitment is subject to the
satisfaction of each of the following conditions:

(g) Section 8.1(v) of the Credit Agreement is hereby amended and restated in its entirety to
read as follows:

(v) the Interim Order shall not have been replaced by the Final Order by the Interim
Termination Date; or

	 	 	 	Section 2. Conditions Precedent to the Effectiveness of this Amendment.

This Amendment shall become effective as of the date (the “Effective Date”) when, and
only when, each of the following conditions precedent shall have been satisfied or waived by the
Administrative Agent:

(i) Executed Counterparts. The Administrative Agent shall have
received this Amendment duly executed by each Borrower and the Lenders, the Issuers
and the Administrative Agent.

(ii) Corporate and Other Proceedings. All corporate and other
proceedings, and all documents, instruments and other legal matters in connection
with the transactions contemplated by this Amendment shall be reasonably
satisfactory in all respects to the Administrative Agent.

(iii) Amendment to Fee Letter. The Administrative Agent shall have
received a fully executed copy of the amendment dated as of the date hereof to the
Fee Letter.

	 	 	 	Section 3. Representations and Warranties.

On and as of the Effective Date, after giving effect to this Amendment, each Borrower hereby
represents and warrants to the Administrative Agent and each Lender and Issuer as follows:

(i) this Amendment has been duly authorized, executed and delivered by each
Borrower and constitutes the legal, valid and binding obligations of such Borrower
enforceable against such Borrower in accordance with its terms and the Credit
Agreement as amended by this Amendment and constitutes the legal, valid and binding
obligation of such Borrower enforceable against such Borrower in accordance with its
terms, in each case, subject to applicable bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and similar laws affecting creditors’ rights
and remedies generally and subject to general principals of equity, regardless of
whether considered in a proceeding in equity or at law;

(ii) each of the representations and warranties contained in Article IV of the
Credit Agreement is true and correct in all material respects on and as of the
Effective Date, as if made on and as of such date and except to the extent that such
representations and warranties specifically relate to a specific date, in which case
such representations and warranties shall be true and correct in all material
respects as of such specific date; provided, however, that
references therein to the “Credit Agreement” shall be deemed to refer to the
Credit Agreement as amended hereby and after giving effect to the consents and
waivers set forth herein; and

(iii) no Default or Event of Default has occurred and is continuing, after
giving effect to this Amendment.

	 	 	 	Section 4. Reference to the Effect on the Loan Documents.

(a) As of the Amendment Effective Date, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the
other Loan Documents to the Credit Agreement (including, without limitation, by means of words like
“thereunder”, “thereof” and words of like import), shall mean and be a reference to the Credit
Agreement as amended hereby, and this Amendment and the Credit Agreement shall be read together and
construed as a single instrument. Each of the table of contents and lists of Exhibits and
Schedules of the Credit Agreement shall be amended to reflect the changes made in this Amendment as
of the Effective Date.

(b) Except as expressly amended hereby or specifically waived above, all of the terms and
provisions of the Credit Agreement and all other Loan Documents are and shall remain in full force
and effect and are hereby ratified and confirmed.

(c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly
provided herein, operate as a waiver of any right, power or remedy of the Lenders, the Issuers, the
Borrowers, or the Administrative Agent, and shall not constitute a waiver or amendment of any other
provision of any of the Loan Documents or for any purpose except as expressly set forth in this
Amendment.

(d) This Amendment is a Loan Document.

	 	 	 	Section 5. Execution in Counterparts.

This Amendment may be executed in any number of counterparts and by different parties in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement. Signature pages may be detached
from multiple separate counterparts and attached to a single counterpart so that all signature
pages are attached to the same document. Delivery of an executed counterpart by telecopy or
electronic transmission shall be effective as delivery of a manually executed counterpart of this
Amendment.

	 	 	 	Section 6. Governing Law.

This Amendment and the rights and obligations of the parties shall be governed by, and
construed and interpreted in accordance with, the law of the State of New York, except as governed
by the Bankruptcy Code.

	 	 	 	Section 7. Submission to Jurisdiction.

Each party hereto hereby consents and agrees that the Bankruptcy Court shall have exclusive
jurisdiction to hear and determine any claims and disputes between the Borrowers, Administrative
Agent and Lenders pertaining to this Amendment or any of the other Loan Documents or to any matter
arising out of or relating to this Amendment or any of the other Loan Documents.

	 	 	 	Section 8. Section Titles.

The section titles contained in this Amendment are and shall be without substantive meaning or
content of any kind whatsoever and are not a part of the agreement between the parties hereto,
except when used to reference a section. Any reference to the number of a clause, sub-clause or
subsection of any Loan Document immediately followed by a reference in parenthesis to the title of
the section of such Loan Document containing such clause, sub-clause or subsection is a reference
to such clause, sub-clause or subsection and not to the entire section; provided,
however, that, in case of direct conflict between the reference to the title and the
reference to the number of such section, the reference to the title shall govern absent manifest
error. If any reference to the number of a section (but not to any clause, sub-clause or
subsection thereof) of any Loan Document is followed immediately by a reference in parenthesis to
the title of a section of any Loan Document, the title reference shall govern in case of direct
conflict absent manifest error.

	 	 	 	Section 9. Notices.

All communications and notices hereunder shall be given as provided in the Credit Agreement.

	 	 	 	Section 10. Severability.

The fact that any term or provision of this Agreement is held invalid, illegal or
unenforceable as to any person in any situation in any jurisdiction shall not affect the validity,
enforceability or legality of the remaining terms or provisions hereof or the validity,
enforceability or legality of such offending term or provision in any other situation or
jurisdiction or as applied to any person.

	 	 	 	Section 11. Successors.

The terms of this Amendment shall be binding upon, and shall inure to the benefit of, the
parties hereto and their respective successors and permitted assigns.

	 	 	 	Section 12. Waiver of Jury Trial.

TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE ADMINISTRATIVE AGENT, THE LENDERS, THE
ISSUERS AND THE BORROWERS IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH RESPECT
TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT.

[SIGNATURE PAGES FOLLOW]

1

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by
their respective officers, trustees and general partners thereunto duly authorized, as of the date
first written above.

	 	 	 
	TOUSA, INC., as the Administrative Borrower

	By: /s/ Tommy McAden

	
 
	 	Name: Tommy McAden
	
 
	 	Title: EVP and CFO

	 	 	 
	Subsidiary Borrowers:
	ENGLE HOMES RESIDENTIAL
	CONSTRUCTION, L.L.C.
	ENGLE HOMES COMMERCIAL
	CONSTRUCTION, LLC
	ENGLE SIERRA VERDE P4, LLC
	ENGLE SIERRA VERDE P5, LLC
	ENGLE/GILLIGAN, LLC
	ENGLE/JAMES LLC
	LB/TE #1, LLC
	LORTON SOUTH CONDOMINIUM, LLC
	MCKAY LANDING LLC
	NEWMARK HOMES PURCHASING, L.P.
	NEWMARK HOMES, L.L.C.
	NEWMARK HOMES, L.P.
	PREFERRED BUILDERS REALTY, INC.
	REFLECTION KEY, LLC
	SILVERLAKE INTERESTS, L.C.
	TOI, LLC
	TOUSA/WEST HOLDINGS, INC.
	TOUSA ASSOCIATES SERVICES COMPANY
	TOUSA HOMES ARIZONA, LLC
	TOUSA HOMES COLORADO, LLC
	TOUSA HOMES FLORIDA, L.P.
	TOUSA HOMES INVESTMENT #1, INC.
	TOUSA HOMES INVESTMENT #2, INC.
	TOUSA HOMES INVESTMENT #2, LLC
	TOUSA HOMES MID-ATLANTIC
	HOLDING, LLC
	TOUSA HOMES MID-ATLANTIC, LLC
	TOUSA HOMES NEVADA, LLC
	TOUSA HOMES, INC.
	TOUSA HOMES, L.P.
	TOUSA INVESTMENT #2, INC.
	TOUSA MID-ATLANTIC INVESTMENT, LLC
	TOUSA REALTY, INC.
	TOUSA, LLC
	By:	 	/s/ Tommy McAden
	 	 	Name: Tommy McAden
	 	 	Title: EVP

2

	 
	Subsidiary Borrowers (continued):

	NEWMARK HOMES BUSINESS TRUST

	By: /s/ Tommy McAden

	Name: Tommy McAden

Title: Co-Managing TTEE

	By: /s/ Paul Berkowitz

	Name: Paul Berkowitz

Title: Co-Managing TTEE

	By: /s/ Russell Devendorf

	Name: Russell Devendorf

Title: Co-Managing TTEE

3

	 
	Subsidiary Borrowers (continued):

	ENGLE HOMES DELAWARE, INC.

TOUSA DELAWARE, INC.

TOUSA FUNDING, LLC

	By: /s/ Tommy McAden

	Name: Tommy McAden

Title: EVP

	 

CITICORP NORTH AMERICA, INC.,
   as Administrative Agent
By:  /s/ Thomas M. Halsch
        Name: Thomas M. Halsch
        Title: VP and Director
CITIBANK, N.A., as an Issuer
By:  /s/ Thomas M. Halsch
        Name: Thomas M. Halsch
        Title: Vice President
CITICORP NORTH AMERICA, INC., as a Lender
By:  /s/ Thomas M. Halsch
        Name: Thomas M. Halsch
        Title: VP and Director
CITICORP NORTH AMERICA, INC.,

	as Administrative Agent
	By: /s/ Thomas M. Halsch
	Name: Thomas M. Halsch
	Title: VP and Director
	CITIBANK, N.A., as an Issuer
	By: /s/ Thomas M. Halsch
	Name: Thomas M. Halsch
	Title: Vice President
	CITICORP NORTH AMERICA, INC., as a Lender
	By: /s/ Thomas M. Halsch
	Name: Thomas M. Halsch
	Title: VP and Director

4EX-10.1

AGREEMENT FOR PURCHASE AND SALE

OF REAL PROPERTY AND ESCROW INSTRUCTIONS

THIS AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY AND ESCROW INSTRUCTIONS (this
“Agreement”) is made and entered into as of this 30th day of October, 2006, between LIBERTY FALLS,
LLC, an Ohio limited liability company (“Seller”), TRIPLE NET PROPERTIES, LLC, a Virginia limited
liability company (“Buyer”) and DAVE CHRESTENSEN and TODD CRAWFORD (each a “Guarantor,” and
collectively, “Guarantors”).

RECITALS

A. Seller owns certain real property located in Butler County, Ohio and more specifically
described in Exhibit A attached hereto and incorporated herein (the “Land”), commonly known
as 6770 Cincinnati-Dayton Road and such other assets, as the same are herein described.

B. Seller desires to sell to Buyer and Buyer desires to purchase from Seller the Property
(hereinafter defined).

C. The “Effective Date” of this Agreement shall be the date on which this Agreement is fully
executed by all parties, as evidenced by the latest date inserted next to the signature block of
each party.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants, premises and agreements herein
contained, the parties hereto do hereby agree as follows:

1. Purchase and Sale.

1.1. The purchase and sale includes, and at the Close of Escrow (hereinafter defined) Seller
shall sell, transfer, grant and assign to Buyer, Seller’s entire right and interest in and to all
of the following (hereinafter sometimes collectively, the “Property”):

1.1.1. The Land, together with all structures, buildings, improvements, machinery, fixtures,
and equipment affixed or attached to the Land and all easements, development rights, rights of way,
and other rights appurtenant to the Land (all of the foregoing being collectively referred to
herein as the “Real Property”);

1.1.2. The lease with the Sisters of Mercy of Hamilton, Ohio d/b/a Mercy Hospital of Fairfield
(the “Tenant”), including associated amendments, leasing the Real Property in accordance with the
terms set forth on Exhibit B and otherwise to the reasonable satisfaction of Buyer, to be fully
executed prior to the Close of Escrow (hereafter the “Lease”), together with all security deposits,
other deposits held in connection with the Lease, Lease guarantees and other similar credit
enhancements providing additional security for the Lease;

1.1.3. All tangible and intangible personal property owned by Seller located on or used in
connection with the Real Property, including, specifically, without limitation, equipment,
furniture, tools and supplies, any website maintained by Seller and all related intangibles (the
“Personal Property”);

1.1.4. All service contracts, agreements, warranties and guaranties relating to the operation,
use or maintenance of the Property (the “Contracts”); and

1.1.5. To the extent transferable, all building permits, certificates of occupancy and other
certificates, permits, licenses and approvals relating to the Property (the “Permits”).

2. Purchase Price. The total Purchase Price of the Property shall be Seven Million
SixHundred Thousand and No/100 Dollars ($7,600,000.00) (the “Purchase Price”), and payable as
follows:

2.1. Deposit/Further Payments.

2.1.1. Provided this agreement has not been sooner terminated, Buyer shall deposit with
LandAmerica Commercial Services, Mn: Gale Hunt, Telephone: 949-930-9307, Facsimile: 714-459-7203
1920 Main Street, 12th Floor, Irvine, California 92614 (“Escrow Holder”) the amount of One Hundred
Thousand and No/100 Dollars ($100,000.00) (the “Initial Deposit”) on the date that is the later of
(a) fifteen (15) days following the Effective Date; or (b) five (5) business days following receipt
by Buyer of the fully executed Lease. Escrow Holder shall immediately release the Initial Deposit
to Seller.

2.1.2. No later than the date which is forty-five (45) days after the EffectiveDate, and
absent the termination of this Agreement, Buyer shall deliver to Escrow Holder the additional sum
of One Hundred Thousand and. No/100 Dollars ($100,000.00), (the “Additional Deposit” and together
with the Initial Deposit, the “Deposit”). Escrow Holder shall retain the Additional Deposit until
the Close of Escrow or earlier termination of this Agreement.

2.1.3. On or before the Close of Escrow, Buyer shall deposit with the EscrowHolder to be held
in Escrow the balance of the Purchase Price, in immediately available funds by wire transfer made
payable to the Escrow Holder.

2.1.4. If this Agreement is terminated in accordance with its terms, the Depositshall be paid
to the party entitled to retain it, as provided in this Agreement.

3. Title and Survey.

3.1. Title Insurance. No later than ten (10) days following the Effective Date, Seller
shall order a current title insurance commitment and/or preliminary title report for the Real
Property, including legible copies of all items identified as exceptions therein (the “Title
Documents”). Seller shall, at Seller’s sole expense, cause Land America Title Company (the “Title
Company”) to issue an Extended Coverage ALTA Owner’s Policy of Title Insurance, together with title
policy endorsements as requested by Buyer (the “Title Policy”) for and on behalf of Buyer in the
total amount of the Purchase Price and obtainable at standard rates insuring good, marketable and
insurable title in and to the Real Property. Buyer shall pay for the cost of the lender title
insurance policy, if any. The Title Policy shall be free and clear of exceptions except as follows:

3.1.1. Real property taxes and assessments, which are a lien not yet due;

3.1.2. The Permitted Exceptions (hereinafter defined) included in the Title Policy and
approved by Buyer in accordance with this Agreement.

3.2. Survey. On or before the Effective Date, Seller shall either (a) deliver an
existing ALTA survey of the Real Property (the “Existing Survey”) to Buyer or (b) notify Buyer that
an Existing Survey is not available. No later than ten (10) days following the Effective Date,
Buyer shall order an update of the Existing Survey or a new ALTA survey of the Real Property if no
Existing Survey is provided by Seller (the “Survey”). Buyer shall be responsible for all costs
associated with the Survey.

4. Due Diligence Items.

4.1. Seller shall, within five (5) days after the Effective Date (the “Delivery Date”),
deliver to Buyer each of the following due diligence items in Seller’s possession or reasonably
available to Seller (collectively, the “Due Diligence Items”):

4.1.1. Copies of any and all existing surveys (ALTA, boundary or otherwise) or plats of the
Real Property;

4.1.2. Copies of any existing owner/lender title insurance policies for the Real Property or
any portion thereof;

4.1.3 A draft copy of a proposed lease to be entered into with respect to the Real Property;

4.1.4. A list of all contracts, including service contracts, warranties, management,
maintenance, leasing commission or other agreements affecting the Real Property, if any, together
with copies of the same;

4.1.5. All site plans, leasing plans, existing or proposed building plans, drawings,
environmental, mechanical, electrical, structural, soils and similar reports and/or audits and
plans and specifications relative to the Real Property in the possession of Seller or under the
control of Seller, if any;

4.1.6. True and correct copies of the real estate and personal property tax statements
covering the Property or any part thereof for each of the two (2) years prior to the current year
and, if available, for the current year;

4.1.7. A schedule of all current or pending litigation with respect to the Property or any
part thereof, if any, or otherwise with respect to Seller that might have a material adverse effect
on Seller’s ability to perform hereunder, together with a brief description of each such
proceeding;

4.1.8. Copies of tiles and records relating to the ownership of the Real Property (provided,
however, with Buyer’s consent such files and records may be made available for inspection by Buyer
during ordinary business hours at Seller’s management office);

4.1.9. A “Phase I” environmental report for the Property.

5. Inspections.

5.1. Procedure; Indemnity. Buyer, at its sole expense, shall have the right to conduct
feasibility, environmental, engineering, title, survey and physical studies of the Real Property at
any time from and after the Effective Date and for a period of ninety (90) days thereafter (the
“Due Diligence Period”); provided, however, if the Due Diligence Items are not delivered on the
Delivery Date, Buyer may, by written notice delivered prior to the conclusion of the Due Diligence
Period, extend the Due Diligence Period for a period equal to the associated delay in delivery of
such materials beyond the Delivery Date. Buyer and its duly authorized agents or representatives
shall be permitted to enter upon the Real Property at all reasonable times during the Due Diligence
Period in order to conduct engineering studies, soil tests and any other inspections and/or tests
that Buyer may deem necessary or advisable (collectively, the “Inspections”). Buyer agrees to
promptly discharge any liens that may be imposed against the Real Property as a result of Buyer’s
Inspections and to defend, indemnify and hold Seller harmless from all claims, suits, losses,
costs, expenses (including without limitation court costs and attorneys’ fees), liabilities,
judgments and damages incurred by Seller as a result of any Inspections performed by Buyer.

5.2. Approval.

5.2.1. Buyer shall have until the conclusion of the Due Diligence Period (as the same may be
extended in accordance with the terms of this Paragraph 5) to approve or disapprove the
Inspections, the Due Diligence Items and Buyer’s evaluation of the Real Property. If Buyer shall
fail to deliver a written notice to Seller and Escrow Holder within the Due Diligence Period
approving the condition of the Real Property, this Agreement shall thereupon be automatically
terminated, Buyer shall not be entitled to purchase the Real Property, Seller shall not be
obligated to sell the Real Property to Buyer and the parties shall be relieved of any further
obligation to each other with respect to the Real Property. Upon such termination, Seller shall be
entitled to retain the Initial Deposit and the Second Deposit (if it has been made).

5.2.2. Notwithstanding anything to the contrary contained herein, Buyer hereby agrees that if
this Agreement is terminated for any reason, Buyer shall promptly and at its sole expense return to
Seller all Due Diligence items delivered by Seller to Buyer in connection with Buyer’s inspection
of the Real Property.

5.2.3. Procedure for Approval of Title. Buyer shall have the Due Diligence Period to
review and approve, in writing, the condition of the title to the Real Property; provided, however
Buyer shall have a minimum of thirty (30) days to review the Title Documents and the Survey after
Buyer’s receipt of both the Title Documents and the Survey (the “Title Review Period”). Upon
request, Buyer will notify Escrow Holder and Seller when Buyer has received both the Title
Documents and the Survey so that the Title Review Period can be determined. If the Due Diligence
Period is scheduled to expire prior to the Title Review Period, the Due Diligence Period shall be
extended automatically to coincide with the expiration of the Title Review Period, and any
reference to the Title Review Period and the Due Diligence Period in this Agreement shall mean the
same date. If the Title Documents or the Survey reflect or disclose any defect, exception or other
matter affecting the Real Property (“Title Defects”) that is unacceptable to Buyer, then Buyer
shall provide Seller with written notice of Buyer’s objections (“Buyer’s Objections”) no later than
the conclusion of the Due Diligence Period; provided, however, if Buyer shall fail to notify Seller
in writing within the Due Diligence Period either that the condition of title is acceptable or of
any specific objections to the state of title to the Real Property, then Buyer shall be deemed to
have objected to all exceptions to title or other conditions or matters which are shown on the
Survey or described in the Title Documents except as provided below. Seller may, at its sole
option, elect, by written notice given to Buyer within three (3) days following the conclusion of
the Due Diligence Period (“Seller’s Notice Period”), to cure or remove the objections made or
deemed to have been made by Buyer; provided, however, Seller shall in all events have the
obligation to (i) act in good faith in making such election and curing any Title Defects that
Seller elects to cure, (ii) specifically remove any monetary encumbrances affecting the Real
Property, and (iii) remove any Title Defect that attaches to the Real Property subsequent to the
conclusion of the Due Diligence Period. The failure of Seller to deliver written notice electing to
cure Buyer’s Objections during Seller’s Notice Period shall be deemed an election by Seller not to
cure Buyer’s Objections. Should Seller elect to attempt to cure or remove Buyer’s Objections,
Seller shall have fifteen (15) days from the conclusion of the Due Diligence Period (“Cure Period”)
in which to accomplish the cure. If Seller elects (or is deemed to have elected) not to cure or
remove any objection, then Buyer shall be entitled to either (i) terminate this Agreement (in which
case Seller shall be entitled to retain the Initial Deposit and the Second Deposit if it has been
made); or (ii) waive any objections that Seller has not elected to cure and close this transaction
as otherwise contemplated herein, The failure of Buyer to provide written notice to Seller within
ten (10) days following the expiration of Seller’s Notice Period waiving any objections Seller has
not elected to cure shall be deemed an election by Buyer to terminate this Agreement. Any
exceptions to title accepted by Buyer pursuant to the terms of this paragraph shall be deemed
“Permitted Exceptions”. If the Title Review Period, as extended by the notice and cure periods
provided above, extends beyond the Close of Escrow, the Close of Escrow shall be extended
accordingly. Notwithstanding the foregoing, the parties agree that Seller shall satisfy all
monetary liens, including mechanics’ liens, at or before the Close of Escrow, and no such liens
shall constitute Permitted Exceptions.

6. Escrow.

6.1. Opening. Purchase and sale of the Property shall be consummated through an escrow
(the “Escrow”) to be opened with Escrow Holder within three (3) business days following the
Effective Date. This Agreement shall be considered the escrow instructions between the parties,
with such further consistent written instructions as Escrow Holder shall require in order to
clarify its duties and responsibilities. If Escrow Holder shall require further Escrow
instructions, Escrow Holder may prepare such instructions on its usual form. Such further
instructions shall, so long as not inconsistent with the terms of this Agreement, be promptly
signed by Buyer and Seller and returned to Escrow Holder within three (3) business days of receipt
thereof. If of any conflict between the terms and conditions of this Agreement and any further
Escrow instructions, the terms and conditions of this Agreement shall control,

6.2. Close of Escrow. Subject to the extension rights set forth in this Agreement,
Escrow shall close at a mutually agreeable date (“Close of Escrow”) within ten (10) days after the
later of (i) the expiration of the Due Diligence Period or (ii) Seller’s receipt of a Certificate
of Occupancy for the building being constructed on the Property; provided, however, that Buyer may,
at Buyer’s election, and upon payment of Twenty-Five Thousand and No/100 Dollars ($25,000.00) on
each occasion, extend the Close of Escrow on not more than one (1) occasion for an additional
period of thirty (30) days. Any payments received by Seller pursuant hereto shall be applied to the
Purchase Price at the Close of Escrow. In addition, Buyer will be given a credit of Eight Hundred
Thousand and No/100 Dollars ($800,000.00) toward the Purchase Price at Closing for certain matters
related to the Lease. Notwithstanding the foregoing, if the certificate of occupancy has not been
issued by the date which is fifteen months after the Effective Date, this Agreement shall
automatically terminate and the entire Deposit shall be returned to the Buyer.

	 	 	 	 	 	 	 
	6.3.	 	Buyer Required to Deliver. Buyer shall deliver to Escrow the following:
	 	 	 
	
 
	 	 	6.3.1.	 	 	in accordance with Paragraph 2, the Deposit;

6.3.2. On or before the Close of Escrow, the balance of the Purchase Price; provided, however
that Buyer shall not be required to deposit the balance of the Purchase Price into Escrow until
Buyer has been notified by Escrow Holder that (i) Seller has delivered to Escrow each of the
documents and instruments to be delivered by Seller in connection with Buyer’s purchase of the
Property, (ii) Title Company has committed to issue and deliver the Title Policy to Buyer, and
(iii) the only impediment to the Close of Escrow is delivery of such amount by or on behalf of
Buyer;

6.3.3. On or before the Close of Escrow, such other documents as Escrow Holder may reasonably
require from Buyer in order to issue the Title Policy; and

6.3.4. A counterpart original of an Assignment and Assumption Agreement in the form attached
hereto as Exhibit C (the “Assignment Agreement”), duly executed by Buyer assigning all of
Seller’s right, title and interest in and to the Lease, Contracts and Permits from and after the
Close of Escrow.

6.4. Seller Required to Deliver. On or before the Close of Escrow, Seller shall
deliver to Escrow or Buyer, as applicable, the following:

6.4.1. A duly executed and acknowledged special warranty deed, conveying fee title to the Real
Property in favor of Buyer;

6.4.2. A completed Certificate of Non-Foreign Status, duly executed by Seller under penalty of
perjury;

6.4.3. A Bill of Sale, for the Personal Property, if any, in favor of Buyer and duly executed
by Seller;

6.4.4. Such other documents as Escrow Holder may require from Seller in order to issue the
Title Policy;

6.4.5. Tenant’s estoppel certificate and SNDA as required by and provided for in Paragraph
9.1.4;

6.4.6. A counterpart original of the Assignment Agreement duly executed by Seller, assigning
all of Seller’s right, title and interest in and to the Lease, Contracts and Permits to Buyer from
and after the Close of Escrow;

6.4.7. To Buyer, all keys to all buildings and other improvements located on the Real
Property, combinations to any safes thereon, and security devices therein in Seller’s possession;

6.4.8. A letter from Seller addressed to the Tenant informing the Tenant of the change in
ownership;

6.4.9. To Buyer, the original Lease;

6.4.10. To Buyer, all records and files relating to the management or operation of the Real
Property, including, without limitation, all insurance policies, all service contracts, all tenant
files (including correspondence), property tax bills, insurance, and property taxes;

6.4.11. A customary “gap” indemnity; and

6.4.12. A Reciprocal Access and Easement Agreement (“REA”) permitting all necessary means of
access to the Property across that land retained by the Seller, as more specifically shown on the
drawing entitled “Liberty Falls — Preliminary Site Plan “G” attached hereto as part of Exhibit A
(the “Retained Parcel”).

	 	 	 	 	 	 	 
	6.5.	 	Buyer’s Costs. Buyer shall pay the following:
	 	 	 
	
 
	 	 	6.5.1.	 	 	One-half (1/2) of Escrow Holder’s fee, costs and expenses; and

6.5.2. All other costs customarily borne by purchasers of real property in Butler County,
Ohio, which costs are not being paid by Seller in accordance with Paragraph 3 of this Agreement.

	 	 	 	 	 	 	 
	6.6.	 	Seller’s Costs. Seller shall pay the following:
	 	 	 
	
 
	 	 	6.6.1.	 	 	One-half (1/2) of Escrow Holder’s fees, costs and expenses;
	
 
	 	 	6.6.2.	 	 	The cost of recording the Deed and any transfer tax;
	
 
	 	 	6.6.3.	 	 	Title Company premiums for the Title Policy;

6.6.4. All costs, fees and expenses associated with last Eight Hundred Thousand and No/100
Dollars ($800,000.00) of the Purchase Price, including but not limited to, recording taxes and
title insurance costs (that is to say, all costs paid by Buyer will be based on a purchase price of
$6,800,000.00) ; and

6.6.5. All other costs customarily borne by sellers of real property in Butler County, Ohio.

6.7. Prorations.

6.7.1. Items to be Prorated. The following shall be prorated between Seller and Buyer
as of the Close of Escrow with Buyer being deemed the owner of the Property as of the Close of
Escrow:

(a) Taxes and Assessments. All non-delinquent real property taxes,
assessments and other governmental impositions of any kind or nature, including, without
limitation, any special assessments or similar charges (collectively, “Taxes”), which relate to the
tax year within which the Close of Escrow occurs based upon the actual number of days in the tax
year. With respect to any portion of the Taxes which are payable by the Tenant directly to the
authorities, no proration or adjustment shall be made. The proration for Taxes shall be based upon
the most recently issued tax bill for the Property. If the most recent tax bill is not for the
current tax year, then the parties shall reprorate within thirty (30) days of the receipt of the
tax bill for the current tax year. Upon the Close of Escrow and subject to the adjustment provided
above, Buyer shall be responsible for real estate taxes and assessments on the Property payable
from and after the Close of Escrow.

(b) Rents. Buyer will receive a credit at the Close of Escrow for all rents
collected by Seller prior to the Close of Escrow and allocable to the period from and after the
Close of Escrow based upon the actual number of days in the month. No credit shall be given Seller
for accrued and unpaid rent or any other non-current sums due from Tenant until these sums are
paid, and Seller shall retain the right to collect any such rent provided Seller does not sue to
evict the Tenant or terminate the Lease. Buyer shall cooperate with Seller after the Close, of
Escrow to collect any rent under the Lease which has accrued as of the Close of Escrow; provided,
however, Buyer shall not be obligated to sue the Tenant or exercise any legal remedies under the
Lease or to incur any expense over and above its own regular collection expenses. All payments
collected from Tenant after Close of Escrow shall first be applied to the month in which the Close
of Escrow occurs, then to any rent due to Buyer for the period after the Close of Escrow and
finally to any rent due to Seller for the period prior to the Close of Escrow; provided, however,
notwithstanding the foregoing, if Seller collects any payments from Tenant after the Close of
Escrow through its own collection efforts, Seller may first apply such payments to rent due Seller
for the period prior to the Close of Escrow.

(c) CAM Expenses. To the extent that Tenant is reimbursing the landlord for common
area maintenance and other operating expenses (collectively, “CAM Charges”), CAM Charges shall be
prorated at the Close of Escrow and again subsequent to the Close of Escrow, as of the date of the
Close of Escrow on a lease-by-lease basis with each party being entitled to receive a portion of
the CAM Charges payable under the Lease for the CAM Lease Year in which the Close of Escrow occurs,
which portion shall be equal to the actual CAM Charges incurred during the party’s respective
periods of ownership of the Property during the CAM Lease Year. As used herein, the term “CAM Lease
Year” means the twelve (12) month period as to which annual CAM Charges are owed under each Lease.
Five (5) days prior to Close of Escrow Seller shall submit to Buyer an itemization of its actual
CAM Charges operating expenses through such date and the amount of CAM Charges received by Seller
as of such date, together with an estimate of CAM Charges to be incurred to, but not including, the
Close of Escrow. If Seller has received CAM Charges payments in excess of its actual CAM Charges
operating expenses, Buyer shall be entitled to receive a credit against the Purchase Price for the
excess. If Seller has received CAM Charges payments less than its actual CAM Charges operating
expenses, to the extent that the Lease provide for a “true up” at the end of the CAM Lease Year,
Seller shall be entitled to receive any deficit but only after Buyer has received any true up
payment from the Tenant. Upon receipt by either party of any CAM Charge true up payment from the
Tenant, the party receiving the same shall provide to the other party its allocable share of the
“true up” payment within five (5) days of the receipt thereof. To assist Buyer in preparing “true
up” reconciliation at the end of the CAM Lease Year, Seller shall deliver to Buyer at the Close of
Escrow records of all of Seller’s CAM Charge expenditures.

(d) Operating Expenses. All operating expenses (including all charges under
the service contracts and agreements assumed by Buyer) shall be prorated, and as to each service
provider, operating expenses payable or paid to such service provider in respect to the billing
period of such service provider in which the Close of Escrow occurs (the “Current Billing Period”),
shall be prorated on a per diem basis based upon the number of days in the Current Billing Period
prior to the Close of Escrow and the number of days in the Current Billing Period from and after
the Close of Escrow, and assuming that all charges are incurred uniformly during the Current
Billing Period. If actual bills for the Current Billing Period are unavailable as of the Close of
Escrow, then such proration shall be made on an estimated basis based upon the most recently issued
bills, subject to readjustment upon receipt of actual bills.

(e) Security Deposits; Prepaid Rents< Prepaid rentals and other tenant
charges and the security deposit (including any portion thereof which may be designated as prepaid
rent) under the Lease, shall he credited against the Purchase Price, and upon the Close of Escrow,
Buyer shall assume full responsibility for all security deposits to be refunded to the Tenant under
the Lease (to the extent the same are required to be refunded by the terms of the Lease). If the
security deposit is in the form of a letter of credit or other financial instruments (a “Non-Cash
Security Deposit”), Seller will, at the Close of Escrow cause Buyer to be named as beneficiary
under the Non-Cash Security Deposit. Buyer will not receive a credit against the Purchase Price for
such security deposits. If Buyer cannot be named the beneficiary under the Non-Cash Security
Deposit as of the Close of Escrow, an escrow shall be established at the Close of Escrow in an
amount equal to the Non-Cash Security Deposit.

(f) Leasing Costs. Seller shall pay for all tenant improvement allowances
and leasing commissions with respect to the Lease, to the extent that such improvement allowances
and leasing commissions are unpaid as of the Close of Escrow.

6.7.2. Calculation; Reproration. Seller shall prepare and deliver to Buyer no later
than five (5) days prior to the Close of Escrow an estimated closing statement which shall set
forth the costs payable under subsection (d) and the prorations and credits provided for in this
section and subsection (e) and elsewhere in this Agreement. Any item which cannot be finally
prorated because of the unavailability of information shall be tentatively prorated on the basis of
the best data then available and adjusted when the information is available in accordance with this
subparagraph. Buyer shall notify Seller within two (2) days after its receipt of such estimated
closing statement of any items which Buyer disputes, and the parties shall attempt in good faith to
reconcile any differences not later than one (1) day before the Close of Escrow. The estimated
closing statement as adjusted as aforesaid and approved in writing by the parties (which shall not
be withheld if prepared in accordance with this Agreement) shall be referred to herein as the
“Closing Statement”. If the prorations and credits made under the Closing Statement shall prove to
be incorrect or incomplete for any reason, then either party shall be entitled to an adjustment to
correct the same; provided, however, that any adjustment shall be made, if at all, within sixty
(60) days after the Close of Escrow (except with respect to CAM Charges and Taxes, in which case
such adjustment shall be made within thirty (30) days after the information necessary to perform
such adjustment is available), and if a party fails to request an adjustment to the Closing
Statement by a written notice delivered to the other party within the applicable period set forth
above (such notice to specify in reasonable detail the items within the Closing Statement that such
party desires to adjust and the reasons for such adjustment), then the prorations and credits set
forth in the Closing Statement shall be binding and conclusive against such party.

6.7.3. Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the
Property will not be subject to any financing arranged by Seller; (b) none of the insurance
policies relating to the Property will be assigned to Buyer and Buyer shall responsible for
arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone,
electricity, water and gas, shall he read on the Close of Escrow and Buyer shall be responsible for
all the necessary actions needed to arrange for utilities to he transferred to the name of Buyer on
the Close of Escrow, including the posting of any required deposits and Seller shall be entitled to
recover and retain from the providers of such utilities any refunds or overpayments to the extent
applicable to the period prior to the Close of Escrow, and any utility deposits which it or its
predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance
or utilities, If a meter reading is unavailable for any particular utility, such utility shall be
prorated in the manner provided in subparagraph (1)(e) above.

6.7.4. Indemnification. Buyer and Seller shall each indemnify, protect, defend and
hold the other harmless from and against any claim in any way arising from the matters for which
the other receives a credit or otherwise assumes responsibility pursuant to this Section.

6.7.5. Survival. This Paragraph shall survive the Close of Escrow.

7. Seller Representations, Warranties, and Covenants.

7.1. Representations and Warranties. Seller hereby represents and warrants as of the
date hereof and as of the Close of Escrow by appropriate certificate to Buyer as follows:

7.1.1. Seller is a limited liability company duly formed and validly existing under the laws
of the State of Ohio. Seller has full power and authority to enter into this Agreement, to perform
this Agreement and to consummate the transactions contemplated hereby. The execution, delivery and
performance of this Agreement and all documents contemplated hereby by Seller have been duly and
validly authorized by all necessary action on the part of Seller and all required consents and
approvals have been duly obtained and will not result in a breach of any of the terms or provisions
of, or constitute a default under, any indenture, agreement or instrument to which Seller is a
party or otherwise bound. This Agreement is a legal, valid and binding obligation of Seller,
enforceable against Seller in accordance with its terms, subject to the effect of applicable
bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws affecting the
rights of creditors generally.

7.1.2. Seller has good and marketable title to the Real Property, subject to the Permitted
Exceptions. There are no outstanding rights of first refusal, rights of reverter or options
relating to the Real Property or any interest therein. To Seller’s knowledge, there are no
unrecorded or undisclosed documents or other matters which affect title to the Real Property.
Subject to the Lease, Seller has enjoyed the continuous and uninterrupted quiet possession, use and
operation of the Real Property, without material complaint or objection by any person.

7.1.3. Seller is not a “foreign person” within the meaning of Section 1445(f) of the Internal
Revenue Code of 1986, as amended (the “Code”).

7.1.4. There are no on-site employees of Seller at the Real Property, and following the Close
of Escrow, Buyer shall have no obligation to employ or continue to employ any individual employed
by Seller or its affiliates in connection with the Real Property.

7.1.5. There are no actions, suits or proceedings pending, or to the best of Seller’s
knowledge, threatened against Seller and affecting any portion of the Property, at law or in
equity, or before or by any federal, state, municipal, or other governmental court, department,
commission, board, bureau, agency, or instrumentality, domestic or foreign.

7.1.6. Seller has not received any notice of any violations of any ordinance, regulation, law,
or statute of any governmental agency pertaining to the Real Property or any portion thereof.

7.1.7. There are no unpaid bills, claims, or liens in connection with any construction or
repair of the Real Property except for those that will be paid in the ordinary course of business
prior to the Close of Escrow or which have been bonded over or the payment of which has otherwise
been adequately provided for to the satisfaction of Buyer.

7.1.8. Seller has not experienced any material physical or mechanical defects in the buildings
or any material settlement or earth movement affecting the Real Property.

7.1.9. To Seller’s knowledge, the zoning of the Real Property permits both the current and
intended building and use of the Real Property, and to Seller’s knowledge there is no pending, or
contemplated, rezoning. To Seller’s knowledge, the Real Property complies with all applicable
subdivision laws and all local ordinances enacted thereunder and no subdivision or parcel map not
already obtained is required to transfer the Real Property to Buyer.

7.1.10. Seller will, pursuant to Paragraph 4 and Paragraph 7.3, deliver to Buyer a true,
accurate and complete copy of the Lease and there are no leases, subleases, licenses, occupancies
or tenancies in effect pertaining to any portion of the Real Property, and no persons, tenants or
entities occupy space in the Real Property, except the Lease. There are no options or rights to
renew, extend or terminate the Lease or expand any Lease premises, except as shown in the Lease. No
brokerage commission or similar fee is due or unpaid by Seller with respect to the Lease, and there
are no written or oral agreements that will obligate Buyer, as Seller’s assignee, to pay any such
commission or fee under the Lease or extension, expansion or renewal thereof. The Lease and any
guaranty thereof are in full force and effect, and are subject to no defenses, setoffs or
counterclaims for the benefit of the Tenant. Neither Seller nor, to Seller’s knowledge, the Tenant
is in default under the Lease. Seller is in full compliance with all of the landlord’s obligations
under the Lease, and Seller has no obligation to any Tenant under the Lease to further improve the
Tenant’s premises or to grant or allow any rent or other concessions. No rent or other payments
have been collected in advance for more than one (1) month and no rents or other deposits are held
by Seller. Each rental concession, rental abatement or other benefit granted to Tenants under the
Lease will have been fully utilized prior to the Close of Escrow.

7.1.11. To Seller’s knowledge, there are no presently pending or contemplated proceedings to
condemn the Real Property or any part of it.

7.1.12. To Seller’s knowledge, all water, sewer, gas, electric, telephone and drainage
facilities, and all other utilities required by law or by the normal operation of the Real Property
will be connected to the Real Property and will be adequate to service the Real Property in its
intended use and normal usage by the Tenant and occupants of the Real Property and are in good
working order and repair.

7.1.13. To Seller’s knowledge, Seller has all licenses, permits (including without limitation,
all building permits and occupancy permits), easements and rights-of-way which are required in
order to continue the present use of the Real Property and ensure adequate vehicular and pedestrian
ingress and egress to the Real Property.

7.1.14. Except for the Lease and the Contracts, there are no agreements or other obligations
which may affect the current use of the Real Property. Seller has fully performed all of the
obligations required to be performed by Seller under the Contracts, and to Seller’s knowledge, the
other parties to the same are not in default thereunder.

7.1.15. Seller has no knowledge of nor received any written notice of violation issued
pursuant to any environmental law with respect to the Real Property or any use or condition
thereof. There are no above-ground or underground storage tanks located on the Real Property.

7.1.16. Seller has not released and, to the best of Seller’s knowledge, there has been no
release of, any pollutant or hazardous substance of any kind onto or under the Real Property that
affects the Real Property or that would result in the prosecution of any claim, demand, suit,
action or administrative proceeding against Buyer as owner of the Real Property based on any
environmental requirements of state, local or federal law including, but not limited to, the
Comprehensive Environmental Response Compensation and Liability Act of 1980, U.S.C. 9601 et seq.

7.2. Indemnity; Survival. The foregoing representations and warranties of Seller arc
made by Seller as of the date hereof and again as of the Close of Escrow and shall survive the
Close of Escrow for a period of one year and shall not be merged as of the date of the Close of
Escrow hereunder. Seller shall indemnify and defend Buyer against and hold Buyer harmless from, and
shall be responsible for all claims, demands, liabilities, losses, damages, costs and expenses,
including reasonable attorney’s fees, that may be suffered or incurred by Buyer, including any
third party due diligence expenses incurred by Buyer, if any representation or warranty made by
Seller is untrue or incorrect in any material respect. The terms of Seller’s indemnity set forth
above with respect to the representations and warranties made herein shall survive for a period of
one year following the Close of Escrow.

7.3 Covenants of Seller. Seller hereby covenants from and after the Effective Date as
follows:

7.3.1. To cause to be in force building, fire, and extended coverage insurance upon the Real
Property, and public liability insurance with respect to damage or injury to persons or property
occurring on the Real Property in at least such amounts, and with the same deductibles, as are
maintained by Seller on the date hereof.

7.3.2. To use commercially reasonable efforts to complete the Tenant’s premises, in accordance
with the provisions of the Lease, on or before November 15, 2007.

7.3.3. To not execute the lease or enter into any new lease with respect to the Real Property,
without Buyer’s prior written consent, which shall not be unreasonably withheld. Further, once the
Lease is executed, Seller will not modify or cancel the Lease without first obtaining the written
consent of Buyer. Buyer shall have five (5) business days following receipt of a request for any
consent pursuant to this paragraph in which to approve or disapprove of any new Lease or the
execution of the Lease or any modification or cancellation of the Lease. Failure to respond in
writing within said time period shall be deemed to be consent. Seller’s execution of a new lease or
modification or cancellation of the Lease following Buyer’s reasonable refusal to consent thereto
shall constitute a default hereunder.

7.3.4. To not sell, assign, or convey any right, title, or interest whatsoever in or to the
Real Property, or create or permit to attach any lien, security interest, easement, encumbrance,
charge, or condition affecting the Real Property (other than the Permitted Exceptions).

7.3.5. To not, without Buyer’s written approval, (a) amend or waive any right under any
Contract, or (b) enter into any service, operating or maintenance agreement affecting the Real
Property that would survive the Close of Escrow.

7.3.6. To fully and timely comply with all obligations to be performed by it under the Lease
and Contracts, and all Permits, licenses, approvals and laws, regulations and orders applicable to
the Real Property.

7.3.7. To provide Buyer with copies of (a) any correspondence sent to or received from the
Tenant.

7.3.8. To use diligent efforts to obtain a SNDA and an estoppel certificate from the Tenant,
on the form provided by (or otherwise approved by) Buyer.

7.3.9. To deliver to Buyer copies of Tenant insurance certificates, prior to the Close of
Escrow.

7.3.10. Effective as of the Close of Escrow, any management agreement and any leasing
agreement affecting the Real Property shall be terminated by Seller and any and all termination
fees incurred as a result thereof shall be the sole obligation of Seller.

7.3.11. To provide an accurate legal description within forty-five (45) days after the
Effective Date, which legal description shall be subject to Buyer’s reasonable approval.

7.3.12. To deliver a proposed draft of the REA for Buyer’s review during the Due Diligence
Period, which shall be subject to Buyer’s reasonable approval.

8. Buyer Representations and Warranties. Buyer hereby represents and warrants to
Seller as of the date hereof and as of the Close of Escrow Buyer is a limited liability company
duly organized and validly existing under the laws of the Commonwealth of Virginia. Buyer has full
power and authority to enter into this Agreement, to perform this Agreement and to consummate the
transactions contemplated hereby. The execution, delivery and performance of this Agreement and all
documents contemplated hereby by Buyer have been duly and validly authorized by all necessary
action on the part of Buyer and all required consents and approvals have been duly obtained and
will not result in a breach of any of the terms or provisions of, or constitute a default under,
any indenture, agreement or instrument to which Buyer is a party or otherwise bound. This Agreement
is a legal, valid and binding obligation of Buyer, enforceable against Buyer in accordance with its
terms, subject to the effect of applicable bankruptcy, insolvency, reorganization, arrangement,
moratorium or other similar laws affecting the rights of creditors generally.

9. Conditions Precedent to the Close of Escrow.

9.1 Conditions Precedent. The obligations of Buyer to purchase the Property pursuant
to this Agreement shall, at the option of Buyer, be subject to the following conditions precedent:

9.1.1. All of the representations, warranties and agreements of Seller set forth in this
Agreement shall be true and correct in all material respects as of the date hereof and as of the
Close of Escrow, and Seller shall not have on or prior to the Close of Escrow, failed to meet,
comply with or perform in any material respect any covenants or agreements on Seller’s part as
required by the terms of this Agreement.

9.1.2. There shall be no change in the matters reflected in the Title Documents, and there
shall not exist any encumbrance or title defect affecting the Real Property not described in the
Title Documents except for the Permitted Exceptions or matters to be satisfied at the Close of
Escrow.

9.1.3. The Tenant shall not be in default under its Lease nor shall the Tenant have
discontinued operations at the Real Property nor shall the Tenant filed bankruptcy or sought any
similar debtor protective measure or be the subject of an involuntary bankruptcy nor given notice
that it intends to do any of the foregoing.

9.1.4. Seller shall obtain and deliver to Buyer, no later than ten (10) days prior to the
Close of Escrow, an estoppel certificate and a subordination, nondisturbance and attornment
agreement (“SNDA”) from the Tenant on forms provided by (or otherwise approved by) Buyer. The
matters certified in the estoppel certificate and any modifications to the SNDA form shall be
subject to Buyer’s reasonable approval. Buyer shall send written notification to Seller within five
(5) business days following receipt of a copy of both the executed estoppel certificate and SNDA of
Buyer’s approval or disapproval and the basis of such disapproval, if disapproved. If Buyer
reasonably disapproves of the estoppel certificate and/or SNDA, and Seller is unable to deliver a
reasonably acceptable estoppel certificate or SNDA (as the case may be) prior to the Close of
Escrow, Buyer shall have the right to terminate this Agreement and to obtain a refund of the
Deposit without any further action required by any party, and neither party shall have any further
obligation to the other.

9.1.5. Seller shall deliver an estoppel certificate from any party entitled to enforce any
restrictive covenants encumbering the Property. Said estoppel certificate shall confirm that there
are no defaults or monetary amounts owed under the same restrictive covenants.

9.1.6. The Lease shall have been fully executed, in a form and including terns

9.1.7. Seller shall obtain and deliver to Buyer, no later than ten (10) days prior the Close
of Escrow, written confirmation from the applicable governmental authorities that (a) the Property
is a validly subdivided parcel and (b) that the Property is a separate tax parcel or separate tax
parcels.

10. Effect of Failure. If Buyer notifies Seller of a failure to satisfy the
conditions precedent set forth in this Paragraph 9, Seller may, within five (5) days after receipt
of Buyer’s notice, agree to satisfy the condition by written notice to Buyer, and Buyer shall
thereupon be obligated to close the transaction provided (a) Seller so satisfies such condition and
(b) no such right to cure shall extend the Close of Escrow. If Seller fails to agree to cure or
fails to cure such condition by the Close of Escrow, this Agreement shall be automatically,
terminated, the Deposit shall be returned to Buyer without any further action required from either
party and neither party shall have any continuing obligations hereunder; provided, however, if such
failure constitutes breach or default of its covenants, representations or warranties Seller shall
remain liable for such breach or default as otherwise set forth in this Agreement.

11. Damage or Destruction Prior to the Close of Escrow. In the event that the
Real Property should be damaged by any casualty prior to the Close of Escrow, then Seller shall
promptly provide Buyer with written notice of such casualty. If the cost of repairing such damage,
as estimated by an architect or contractor retained pursuant to the mutual agreement of the
parties (the “Cost of Repairs”), is (a) less than One Hundred Thousand Dollars ($100,000), the
Close of Escrow shall proceed as scheduled and any insurance proceeds, plus the cash amount of any
associated deductible, shall be paid over to Buyer; or (b) greater than One Hundred Thousand
Dollars ($100,000), then Buyer may in its discretion either (i) elect to terminate this Agreement,
in which case the Deposit shall be returned to Buyer without any further action required from
either party and neither party shall have any further obligation to the other or (ii) proceed to
the Close of Escrow in which event any insurance proceeds, plus the cash amount of any associated
deductible, shall be paid over to Buyer. If the casualty is uninsured, Buyer may terminate this
Agreement unless Buyer receives a credit against the Purchase Price equal to the Cost of Repairs.
The foregoing notwithstanding, if any casualty results in the cancellation of, or rental abatement
under, any Lease, Buyer shall have the option to terminate this Agreement without regard to the
cost of repairs. Any notice required to terminate this Agreement pursuant to this Paragraph shall
be delivered no later than thirty (30) days following Buyer’s receipt of Seller’s notice of such
casualty.

12. Eminent Domain. If, before the Close of Escrow, proceedings are commenced
for the taking by exercise of the power of eminent domain of all or a material part of the Real
Property which, as reasonably determined by Buyer, would render the Real Property unacceptable to
Buyer or unsuitable for Buyer’s intended use, Buyer shall have the right, by giving written notice
to Seller within thirty (30) days after Seller gives notice of the commencement of such
proceedings to Buyer, to terminate this Agreement, in which event this Agreement shall
automatically terminate, the Deposit shall be returned to Buyer without any further action
required from either party and neither party shall have any continuing obligations hereunder. If,
before the Close of Escrow, proceedings are commenced for the taking by exercise of the power of
eminent domain of less than a material part of the Real Property, or if Buyer has the right
terminate this Agreement pursuant to the preceding sentence but Buyer does not exercise such
right, then this Agreement shall remain in full force and effect and, on the Close of Escrow, the
condemnation award (or, if not theretofore received, the right to receive such portion of the
award) payable on account of the taking shall be assigned, or paid to, Buyer. Seller shall give
written notice to Buyer within three (3) business days after Seller’s receiving notice of the
commencement of any proceedings for the taking by exercise of the power of eminent domain of all
or any part of the Real Property. The foregoing notwithstanding, if the taking results in the
cancellation of, or rent abatement under, any Lease, Buyer shall have the option to terminate this
Agreement.

13. Notices. All notices, demands, or other communications of any type given by
any party hereunder, whether required by this Agreement or in any way related to the transaction
contracted for herein, shall be void and of no effect unless given in accordance with the
provisions of this Paragraph. All notices shall be in writing and delivered to the person to whom
the notice is directed, either (a) in person, (b) by United States Mail, as a registered or
certified item, return receipt requested, (c) by telecopy or (d) by a nationally recognized
overnight delivery courier. Notices delivered by telecopy shall be deemed delivered when sent,
provided that delivery by telecopy must be followed by overnight delivery. Notices delivered by
overnight courier shall be deemed received on the business day following transmission. Notices
shall be given to the following addresses:

	 	 	 
	For Seller:

	 	Liberty Falls, LLC

Attn: Todd Crawford

8366 Princeton-Glendale Road

Suite B-2

West Chester, Ohio 45069

(513) 860-0016

(513) 860-5139 (fax)
	With a copy to:

	 	Charles F. Hertlein, Jr.

DINSMORE & SHOHL LLP

1900 Chemed Center

255 East Fifth Street

Cincinnati, Ohio 45202

(513) 977-8315

(513) 977-8327 (fax)
	For Purchaser:

	 	Triple Net Properties, L.L.C.

Attn: Theresa Hutton

1551 N. Tustin Avenue, Suite 200

Santa Ana, CA 92705

(714) 667-8252

(714) 667-6816 Fax
	With a copy to:

	 	Joseph J. McQuade, Esquire

Hirschler Fleischer

701 East Byrd Street, 16th Floor

Richmond, VA 23219

(804) 771-9502

(804) 644-0957 Fax

After December 1, 2006:
	
 
	 	Joseph J. McQuade, Esquire

Hirschler Fleischer

2100 E. Cary St

Richmond, VA 23223-7078

(804) 771-9502 (804) 644-0957 Fax

14. Remedies.

14.1. Defaults by Seller. If there is any default by Seller under this Agreement,
following notice to Seller and seven (7) days thereafter during which period Seller may cure the
default, Buyer may at its option, either (a) declare this Agreement terminated in which case the
Deposit shall be returned to Buyer without any further action required from either party, and bring
an action for any damages incurred by Buyer or (b) treat the Agreement as being in full force and
effect and bring an action against Seller for specific performance.

14.2. Defaults by Buyer. If there is any default by Buyer under this Agreement,
following notice to Buyer and seven (7) days, during which period Buyer may cure the default,
Seller may, as its sole remedy, declare this Agreement terminated, in which case the Deposit shall
be paid to Seller as liquidated damages and each party shall thereupon be relieved of all further
obligations and liabilities, except any which survive termination.

If this Agreement is terminated due to the default of Buyer hereunder, Buyer shall, in addition,
deliver to Seller, at no cost to Seller, the Due Diligence Items.

15. Assignment. Buyer may assign any or all of its rights and obligations under
this Agreement to any one or more persons or entities upon notice to Seller; provided however,
that absent the express agreement of Seller, no such assignment shall release Buyer from its
liabilities hereunder. In addition, Buyer shall have the right to direct the Seller to convey the
Property to a group of up to thirty-five designees, who will not be assignees under this
Agreement; provided, however, that Seller’s conveyance to such designees shall not relieve Buyer
from any liability under this Agreement.

16. Interpretation and Applicable Law. This Agreement shall be construed and
interpreted in accordance with the laws of the state where the Real Property is located. Where
required for proper interpretation, words in the singular shall include the plural; the masculine
gender shall include the neuter and the feminine, and vice versa. The terms “successors and
assigns” shall include the heirs, administrators, executors, successors, and assigns, as
applicable, of any party hereto.

17. Amendment. This Agreement may not be modified or amended, except by an
agreement in writing signed by the parties. The parties may waive any of the conditions contained
herein Or any of the obligations of the other party hereunder, but any such waiver shall be
effective only if in writing and signed by the party waiving such conditions and obligations.

18. Attorney’s Fees. If it becomes necessary for either party to file a suit to
enforce this Agreement or any provisions contained herein, the prevailing party shall be entitled
to recover, in addition to all other remedies or damages, reasonable attorneys’ fees and costs of
court incurred in such suit.

19. Entire Agreement; Survival. This Agreement (and the items to be furnished in
accordance herewith) constitutes the entire agreement between the parties pertaining to the
subject matter hereof and supersedes all prior and contemporaneous agreements and understandings
of the parties in connection therewith. No representation, warranty, covenant, agreement, or
condition not expressed in this Agreement shall be binding upon the parties hereto nor shall
affect or be effective to interpret, change, or restrict the provisions of this Agreement. The
obligations of the parties hereunder and all other provisions of this Agreement shall survive the
Close of Escrow or earlier termination of this Agreement, except as expressly limited herein

20. Counterparts. This Agreement may be executed in any number of counterparts,
all of which when taken together shall constitute the entire agreement of the parties.

21. Acceptance. Time is of the essence of this Agreement. If the final date of
any period falls upon a Saturday, Sunday, or legal holiday under the Federal law or laws of the
States of Ohio and California, then in such event the expiration date of such period shall be
extended to the next day which is not a Saturday, Sunday, or legal holiday under Federal law or
the laws of the States of Ohio and California.

22. Real Estate Commission. Seller and Buyer each represent and warrant to the
other that neither Seller nor Buyer has contacted or entered into any agreement with any real
estate broker, agent, finder or any other party in connection with this transaction, and that
neither party has taken any action which would result in any real estate broker’s, finder’s or
other fees or commissions being due and payable to any party with respect to the transaction
contemplated hereby. Each party hereby indemnifies and agrees to hold the other party harmless
from any loss, liability, damage, cost, or expense (including reasonable attorneys’ fees)
resulting to the other party by reason of a breach of the representation and warranty made by such
party in this Paragraph.

23. Cooperation with S-X 3-14 Audit. Seller acknowledges that Buyer intends to
assign all of its rights, title and interest in and to this Agreement. The assignee may be a
publicly registered company (“Registered Company”) promoted by Buyer. Seller acknowledges that it
has been advised that if Buyer is a Registered Company, the assignee is required to make certain
filings with the Securities and Exchange Commission (the “SEC Filings”) that relate to the most
recent pre-acquisition fiscal year (the “Audited Year”) for the Property. To assist the assignee
in preparing the SEC Filings, Seller agrees to provide the assignee at Seller’s offices with the
following, at assignee’s expense and to the extent such information is reasonably available:

	 	 	 
	23.1.

	 	Access to bank statements for the Audited year;
	23.2.

	 	Rent Roll as of the end of the Audited Year;
	23.3.

	 	Operating Statements for the Audited Year;
	23.4.

	 	Access to the general ledger for the Audited Year
	23.5.

	 	Cash receipts schedule for each month in the Audited Year;
	23.6.

	 	Access to invoice for expenses and capital improvements in the Audited Year;
	23.7.

	 	Accounts payable ledger and accrued expense reconciliations;
	23.8.

	 	Check register for the 3-months following the Audited Year
	23.9.

	 	Lease and 5-year lease schedules;
	23.10.

	 	Copies of all insurance documentation for the Audited Year;

23.11. Copies of accounts receivable aging as of the end of the Audited Year and an
explanation for all accounts over thirty (30) days past due as of the end of the Audited Year; and

23.12. Signed representation letter at the end of the field work, in the form attached hereto
and incorporated herein as Exhibit D.

The provisions of this Paragraph shall survive Settlement.

24. Personal Guarantee. Guarantors personally join in this Agreement solely for
the purpose of unconditionally and jointly and severally guaranteeing that the Seller will refund
the Deposit (including any portions released to Seller) if and when the terms of this Agreement
entitle the Buyer to recover the Deposit. Guarantors acknowledge that they will benefit personally
from the consummation of the transaction contemplated in this Agreement, and that in consideration
of such anticipated personal benefit, that each of the Guarantors agrees to indemnify, defend, and
hold Buyer harmless in the event that Seller fails to refund the Deposit (including any portions
released to Seller) if and when the terms of this Agreement entitle the Buyer to recover the
Deposit.

25. Chrestensen/Crawford Lease. Buyer and Guarantors hereby agree to use
commercially reasonable efforts to negotiate and agree upon the form of a lease (the
“Chrestensen/Crawford Lease”) in a form reasonably acceptable to Buyer and Guarantors prior to the
end of the Due Diligence Period. Seller agrees that at the Close of Escrow, Escrow Holder shall
retain Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) from the proceeds of the
Purchase Price to be used as the security deposit for the Chrestensen/Crawford Lease. If the form
of the Chrestensen/Crawford Lease has not been agreed to by the end of the Due Diligence Period,
Buyer shall have the right to terminate this Agreement and recover the entire Deposit.

26. Exhibits. The following exhibits are attached hereto and incorporated herein as
actually set forth in this Agreement;

Exhibit A — Legal Description of the Real Property

Exhibit B — Letter of Intent for Lease

Exhibit C — Assignment and Assumption Agreement

Exhibit D — Form Audit Letter

1

SIGNATURE PAGE FOR AGREEMENT FOR PURCHASE

AND SALE OF REAL PROPERTY AND ESCROW INSTRUCTIONS

WITNESS THE FOLLOWING SIGNATURES:

	 	 	 
	SELLER:	 	LIBERTY FALLS, LLC
	
 
	 	an Ohio limited liability company

By: /s/ Todd Crawford

Name: Todd Crawford

Title: Managing Member

Date: 10.26.06
	GUARANTORS:

	 	/s/ David K. Chrestensen

DAVE CHRESTENSEN

Date: 10/26, 2006
	
 
	 	/s/ Todd Crawford

TODD CRAWFORD

Date: 10.26, 2006
	BUYER:

	 	TRIPLE NET PROPERTIES, L.L.C.

a Virginia limited liability company

By: /s/ Richard Hutton

Name: Richard Hutton

Title: Executive Vice President

Date: 10/30, 2006

2

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