Document:

Purchase and Sale Agreement

 Exhibit 10.1 
 PURCHASE AND SALE AGREEMENT 
 THIS PURCHASE AND
SALE AGREEMENT (this “Agreement”) is entered into as of the 17th day of December, 2010 (the “Effective Date”), by and between ONE DIRECTORY PLACE LLC, a Colorado limited liability company (“Seller”), and THE GC NET LEASE (LOVELAND)
INVESTORS, LLC, a Delaware limited liability company (“Purchaser”). 
 RECITALS: 

A. Seller is the owner of the real property located at 380 W. 37th Street, in the City of Loveland, County of Larimer, State of
Colorado, as more particularly described on Exhibit “A” attached hereto and made a part hereof (the “Real Property”); and 
 B. Seller desires to sell, and Purchaser desires to purchase, the Property (as defined below) upon and subject to the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Purchaser and Seller hereby agree, and instruct Escrow Agent (as defined below), as follows: 
 AGREEMENT: 
 ARTICLE 1 

PURCHASE AND SALE 
 1.1 Agreement of Purchase and Sale. Subject to and on the terms and conditions set forth in this Agreement, Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, all of
Seller’s right, title and interest in and to the property, assets, rights and interests set forth in this Section 1.1 (collectively, the “Property”): 

(a) The Real Property. The Real Property, together with all rights and interests appurtenant to the Real Property, including all
of Seller’s right, title, and interest in and to adjacent streets, roads, alleys, sidewalks, rights of way, and any adjacent strips and gores of real estate, and all rights, titles and interests of Seller appurtenant to the Real Property,
including by way of illustration and not limitation, all mineral rights, water rights, transferable development rights or other entitlements, if any. 
 (b) Improvements. All buildings and other improvements (collectively, the “Improvements”) located on the Real Property (such Real Property and Improvements being referred to
herein, collectively, as the “Premises”). 
 (c) Personal Property. All fixtures, furniture,
furnishings, fittings, equipment, machinery, apparatus, appliances and other articles of tangible personal property located on the Premises as of the Effective Date and used or usable in connection with the occupation or operation of all or any part
of the Property, (including, without limitation, all overhead cranes (if any)) (collectively, the “Personal Property”), excluding, however (i) equipment leased by Seller and the interest of Seller in any equipment
provided to the Property for use, but not owned or leased by Seller, (ii) property owned or leased by Tenant (as defined below) or any guest, employee or other person furnishing goods or services to the Property and (iii) property and
equipment owned by Seller which in the ordinary course of business of the Property is not used exclusively for the business, operation or management of the Property. 
 (d) The Lease. The Lease dated July 21, 1995, by and between Seller, as lessor, and Directory Printing Company, a Delaware corporation (“Original Tenant”), as amended by First
Amendment to Lease dated May 6, 1996, as further amended by Second Amendment to Lease dated September 12, 2008, as further amended by Memorandum and Agreement dated April 8, 2009, as assigned by Original Tenant to World Color (USA),
LLC, a Delaware limited liability company f/k/a Novink (USA), LLC (together with its successors and assigns, “Tenant”) pursuant to Assignment of Lease and Consent to Assignment of Lease dated September 2, 2009, as further
amended by Commencement Date Memorandum and Agreement dated January 19, 2010 and as further amended by Third Amendment to Lease dated November 2, 2010 (as amended and assigned, and together with all guarantees thereof, collectively, the
“Lease”). 
 (e) Contracts. [Intentionally deleted.] 

 (f) Licenses. Transferable consents, authorizations, development rights (if any),
variances or waivers, licenses, permits and approvals from any governmental or quasi governmental entity in connection with the Real Property or the Improvements, including, without limitation, those with respect to occupancy, foundation, use,
utilities, building, fire, life safety, traffic and zoning held by or granted to Seller with respect to the Premises (if any, collectively, the “Licenses”). 
 (g) Inventories. All inventories of supplies used or useful in connection with the operation of the Premises (if any, collectively, the “Inventories”), excluding,
however, inventories or supplies owned or leased by Tenant or any guest, employee or other person furnishing goods or services to the Property. 
 (h) Records. All books, records (except employment records), operating statements, files, maintenance records, rental records, and other records used or useful by Seller in connection with the
ownership, operation or maintenance of the Premises (if any, collectively, the “Records”), excluding, however, (i) any and all original records relating to accounting or financial reporting, on the condition that
Seller supplies Purchaser with true and complete copies thereof and (ii) Seller’s income tax records. 
 (i)
Documents. Any and all originals, or copies if originals are not available, and supplemental blueprints, plans, specifications (including, without limitation, structural, HVAC, mechanical and plumbing plans and specifications), working
drawings, site plans, elevations, surveys, advertising booklets or materials, brochures, indicia of title, warranties and guarantees, environmental reports, ADA reports, structural reports, operating manuals, and similar materials of any kind,
character or description, used or useful in connection with the Premises anchor the ownership, operation or maintenance thereof or otherwise relating thereto, to the extent such items are assignable and in the possession of Seller or its agents (if
any, collectively, the “Documents”). 
 (j) Miscellaneous Property Assets. The Licenses, the
Inventories, the Records and the Documents are collectively referred to herein as the “Miscellaneous Property Assets”; provided, however, in no event shall the Miscellaneous Property Assets include N receivables,
(h) cash or other funds, whether in petty cash or house “banks,” or on deposit in bank accounts or in transit for deposit, (iii) refunds, rebates or other claims, or any interest thereon, for periods or events occurring prior to
the Closing Date (as defined below), (iv) utility and similar deposits, (v) insurance or other prepaid items (except as expressly set forth in Article 10 below) and (vi) Seller’s proprietary books and records. 

1.2 Purchase Price. The purchase price for the Property (the “Purchase Price”) shall be $11,850,000.00 subject to
proration and adjustment as provided in this Agreement. The Purchase Price shall be paid by Purchaser at the times and in the manner set forth in this Section 1.2. 
 (a) The Initial Deposit. Within three (3) Business Days following the Effective Date, Purchaser shall deliver to Fidelity National Title Insurance Company, 4643 S. Ulster Street, Suite 500,
Denver, CO 80237 (“Escrow Agent” or “Title Insurer”), an initial deposit (the “Initial Deposit”) of Two Hundred Thousand and No/100 Dollars ($200,000.00) by wire transfer of immediately available
federal funds (“Good Funds”). The Initial Deposit shall be held and disbursed in accordance with the escrow provisions set forth in Section 1.3 below. 

(b) The Deposit. The Initial Deposit, to the extent actually deposited by Purchaser with Escrow Agent, together with any interest
earned thereon, is referred to herein as the “Deposit.” At the Closing (as defined below), the Deposit shall be paid to Seller and credited against the Purchase Price. 

(c) Cash at Closing. No later than 11:00 a.m. (Mountain Time) on the Closing Date, Purchaser shall deliver the balance of the
Purchase Price to Escrow Agent by wire transfer of Good Funds. 
  

	 	1.3	Escrow Provisions Regarding Deposit. 

 (a) Escrow Agent shall hold the Deposit and make delivery of the Deposit to the party entitled thereto under the terms of this Agreement. Escrow Agent shall deposit the Deposit in such short-term,
high-grade securities, interest-bearing bank accounts, money market funds or accounts, bank certificates of deposit or bank repurchase agreements as Escrow Agent, in its discretion, deems suitable. All interest shall accrue to and be reported to
applicable taxing authorities, including the Internal Revenue Service, for the account of the party to whom such interest is or will be paid. Upon request of the Escrow Agent, the parties hereto shall supply the Escrow Agent with his/her/its Social
Security/Federal Identification Number. A Form W-9 is annexed to this Agreement and must be completed by either Seller or Purchaser, as the case may be, concurrently with the execution of this Agreement. Seller and Purchaser agree that the Escrow
Agent shall not be responsible for any penalties, loss of 

  
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principal or interest, or the consequences of a delay in withdrawal of the Deposit and interest accrued thereon (the “Escrow”), if any, which may be imposed as a result of the
making or the redeeming of the above investment, as the case may be, pursuant to this Agreement. Seller and Purchaser also agree that Escrow Agent shall not be liable for any loss or impairment of the Deposit while the Deposit is in the course of
collection or of the Escrow if such loss or impairment results from the failure, insolvency or suspension of the financial institution in which the Deposit is deposited. 
 (b) Escrow Agent shall hold the Deposit until the earlier occurrence of (i) the Closing Date, at which time the Deposit shall be applied against the Purchase Price, or (h) the date on which
Escrow Agent shall be authorized to disburse the Deposit as set forth in Section 1.3(c) below. Escrow Agent shall hold the Escrowed Termination (as defined in Section 13.19 below) until the earlier occurrence of (A) the
Closing Date, at which time the Escrowed Termination shall be recorded in the real property records of the County of Larimer, State of Colorado (the “Records”), or (8) the date on which Escrow Agent shall be authorized to
record the Escrowed Termination as set forth in Section 1.3(d) below. 
 (c) If the Deposit has not been released
earlier in accordance with Section 1.3(b), and either party makes a written demand upon Escrow Agent for payment of the Deposit, Escrow Agent shall give written notice to the other party of such demand in accordance with the notice
provisions of this Agreement. If Escrow Agent does not receive a written objection from the other party to the proposed payment within five (5) Business Days after the giving of such notice, Escrow Agent is hereby authorized to make such
payment. If Escrow Agent does receive such written objection within such 5-Business Day period, Escrow Agent shall continue to hold such amount until otherwise directed by written instructions from the parties to this Agreement or a final judgment
or arbitrator’s decision. However, Escrow Agent shall have the right at any time to deposit the Deposit, with a court of competent jurisdiction in the state in which the Property is located. Escrow Agent shall give written notice of such
deposit to Seller and Purchaser. Upon such deposit, Escrow Agent shall be relieved and discharged of all further obligations and responsibilities hereunder. 
 (d) If the Escrowed Termination has not been recorded in the Records in accordance with Section 1.3(b) and Seller makes a written demand upon Escrow Agent for recordation of the Escrowed
Termination, Escrow Agent shall give written notice to the other party of such demand in accordance with the notice provisions of this Agreement. If Escrow Agent does not receive a written objection from Purchaser to the proposed recording of the
Escrowed Termination within five (5) Business Days after the giving of such notice, Escrow Agent is hereby authorized to record the Escrowed Termination in the Records; provided, however, Purchaser shall only be permitted to
object to the recording of the Escrowed Termination if Seller is then in default under this Agreement. If Escrow Agent does receive such written objection within such 5-Business Day period, Escrow Agent shall continue to hold the Escrowed
Termination until otherwise directed by written instructions from the parties to this Agreement or a final judgment or arbitrator’s decision. However, Escrow Agent shall have the right at any time to deposit the Escrowed Termination with a
court of competent jurisdiction in the state in which the Property is located. Escrow Agent shall give written notice of such deposit to Seller and Purchaser. Upon such deposit, Escrow Agent shall be relieved and discharged of all further
obligations and responsibilities hereunder. 
 (e) The parties acknowledge that Escrow Agent is acting solely as a stakeholder
at their request and for their convenience, and that Escrow Agent shall not be deemed to be the agent of either of the parties for any act or omission on its part unless taken or suffered in bad faith in willful disregard of this Agreement or
involving gross negligence. Seller and Purchaser jointly and severally shall indemnify and hold Escrow Agent harmless from and against all costs, claims and expenses, including reasonable attorney’s fees, incurred in connection with the
performance of Escrow Agent’s duties hereunder, except with respect to actions or omissions taken or suffered by Escrow Agent in bad faith, in willful disregard of this Agreement or involving gross negligence on the part of Escrow Agent.

 (f) The parties shall deliver to Escrow Agent an executed copy of this Agreement, which shall constitute the sole
instructions to Escrow Agent. Escrow Agent shall execute the signature page for Escrow Agent attached hereto with respect to the provisions of this Section 1.3; provided, however, that (i) Escrow Agent’s signature
hereon shall not be a prerequisite to the binding nature of this Agreement on Purchaser and Seller, and the same shall become fully effective upon execution by Purchaser and Seller, and (it) the signature of Escrow Agent will not be necessary to
amend any provision of this Agreement other than this Section 1.3. 

  
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 (g) Escrow Agent, as the person responsible for closing the transaction within the meaning
of Section 6045(e)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), shall file all necessary information, returns and statements regarding the transaction required by the Code including, but not limited to,
the tax returns required pursuant to Section 6045 of the Code. 
 (h) The provisions of this Section 1.3 shall
survive the termination of this Agreement, and, if not so terminated, the Closing and delivery of the Deed (as defined below) to Purchaser. 
 ARTICLE 2 
 DUE DILIGENCE 

2.1 Feasibility Period. Subject to the terms of this Article 2 and the rights of Tenant under the Lease, from the Effective
Date to and including December 24, 2010 (the “Feasibility Period”), Purchaser, and its agents, contractors, engineers, surveyors, attorneys, and employees (collectively, “Consultants”) shall have the right from
time to time to enter onto the Property, at Purchaser’s sole cost and expense, to: 
 (a) conduct and make any and all
customary studies, tests, examinations, inquiries, inspections and investigations (collectively, the “Inspections’) of or concerning the Property (including, without limitation, engineering and feasibility studies, evaluation of
drainage and flood plain, soil tests for bearing capacity and percolation and surveys, including topographical surveys); 
 (b)
confirm any and all matters which Purchaser may reasonably desire to confirm with respect to the Property; 
 (c) ascertain and
confirm the suitability of the Property for Purchaser’s intended use of the Property; 
 (d) review the Materials; and

 (e) conduct one or more interviews with authorized representatives of Tenant, including without limitation, (i) the
chief executive officer of Tenant’s parent entity, the chief operating officer of Tenant’s parent entity, or the chief financial officer of Tenant’s parent entity, and (ii) the highest ranking officer or employee of Tenant
working on-site at the Property (collectively, “Tenant Interviews”). 
 2.2 Expiration of Feasibility
Period. If the results of any of the matters referred to in Section 2.1 appear unsatisfactory to Purchaser for any reason, or if Purchaser elects not to proceed with the transaction contemplated by this Agreement for any other
reason, or for no reason whatsoever, in Purchaser’s sole and absolute discretion, then Purchaser shall have the right to terminate this Agreement by giving written notice to that effect to Seller and Escrow Agent on or before 6:00 p.m.
(Mountain Time) on December 24, 2010 (the “Termination Deadline”). If Purchaser exercises such right to terminate, this Agreement shall terminate and be of no further force and effect subject to and except for the Survival
Provisions (as defined below) and Escrow Agent shall return the Deposit to Purchaser. If Purchaser fails to provide Seller with written notice of termination on or before the Termination Deadline, (a) Purchaser shall be obligated to proceed to
Closing subject only to the satisfaction or waiver in writing by Purchaser of Purchaser’s Closing Conditions and the satisfaction of other terms and conditions of this Agreement (e.g., provisions relating to casualty or condemnation) and
(b) this Agreement shall remain in full force and effect, and (c) the Deposit shall be non-refundable; subject, however, to the terms and conditions of this Agreement. 

 

	 	2.3	Conduct of Investigation; Insurance. 

 (a) Purchaser shall not permit any mechanic’s or materialmen’s liens or any other liens to attach to the Property by reason of the performance of any work or the purchase of any materials by
Purchaser or any other party in connection with any Inspections conducted by or for Purchaser. Purchaser shall give notice to Seller (which notice may be delivered orally to Seller at 303-796-8288 (followed by an e-mail to
cking@dpccompanies.com) or in writing at Seller’s address) a reasonable time prior to entry onto the Property (and prior to any Tenant Interviews) and shall permit Seller and Tenant to have a representative present during all Inspections
conducted at the Property (including, without limitation, at Tenant Interviews). Purchaser shall take all reasonable actions and implement all protections necessary to ensure that all actions taken in connection with the investigations and
Inspections of the Property, and all equipment, materials and substances generated, used or brought onto the Property pose no material threat to the safety of persons or the environment and cause no damage

  
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to the Property or other property of Seller or other persons (including, without limitation, Tenant). All information made available by Seller to Purchaser in accordance with this Agreement or
obtained by Purchaser in the course of its Inspections shall be treated as confidential information by Purchaser, and, prior to the purchase of the Property by Purchaser, Purchaser shall use commercially reasonable efforts to prevent its Consultants
from divulging such information to any unrelated third parties except as may be required under applicable law and as reasonably necessary to third parties engaged by Purchaser for the limited purpose of analyzing and investigating such information
for the purpose of consummating the transaction contemplated by this Agreement. 
 (b) Notwithstanding anything in this
Agreement to the contrary, Purchaser shall not be permitted to perform any invasive tests (for purposes herein minor surface testing, scraping or samplings shall not be deemed “invasive”) on the Property without Seller’s prior written
consent, which consent may not be unreasonably withheld, conditioned or delayed. Further, Seller shall have the right, subject to the following, to disapprove any and all entries, surveys, tests (including, without limitation, a Phase II
environmental study of the Property), investigations and other matters that in Seller’s reasonable judgment could result in any injury to the Property or breach of any contract (including, without limitation, the Lease), or expose Seller to any
Losses (as defined below) or violation of applicable law, or otherwise adversely affect the Property or Seller’s interest therein; provided, however, to the extent that Purchaser undertakes a Phase I environmental study of the Property and such
study recommends or requires that Purchaser undertake a Phase II environmental study of the Property or the Purchaser’s Consultants require that Purchaser undertake a Phase II environmental study of the Property and Seller shall have the right
to disapprove entry for such Phase II environmental study of the Property and in the case Seller so disapproves entry, then on or prior to the expiration of the Feasibility Period Purchaser shall have a right to terminate this Agreement, have the
Deposit returned to Purchaser, and the parties shall be released from any further obligation or liability hereunder or related hereto except for the Survival Provisions. 
 (c) Purchaser shall use commercially reasonable efforts to minimize disruption to Tenant in connection with Purchaser’s or its Consultants’ activities pursuant to this Article 2. No
consent by Seller to any such activity shall be deemed to constitute a waiver by Seller or assumption of liability or risk by Seller. 
 (d) If Purchaser causes any damage to the Property, Purchaser hereby agrees to restore, at Purchaser’s sole cost and expense, the Property to the substantially same condition existing immediately
prior to Purchaser’s exercise of its rights pursuant to this Article 2. 
 (e) Purchaser shall maintain and cause
its Consultants to maintain (i) commercial public liability insurance coverage of not less than $2,000,000.00, and (ii) worker’s compensation insurance for all of their respective employees in accordance with the law of the state in
which the Property is located. Purchaser shall deliver proof of the insurance coverage required pursuant to this Section 2.3 to Seller (in the form of a certificate of insurance) prior to the earlier to occur of (A) Purchaser’s
or Purchaser’s Consultants’ entry onto the Property, or (B) the expiration of five (5) days after the Effective Date. 
 (f) The provisions of this Section 2.3 shall survive the termination of this Agreement, and, if not so terminated, shall survive (except for the confidentiality provisions of this
Section 2.3) the Closing and delivery of the Deed to Purchaser. 
 2.4 Purchaser Indemnification. Purchaser
shall indemnify, hold harmless and, if requested by Seller (in Seller’s sole discretion), defend (with counsel reasonably approved by Seller) Seller, the Property’s property manager, the Property’s mortgagee and each of their
respective parent and subsidiary entities, officers, directors, members, managers, partners, affiliates, employees, agents and representatives and each of their successors and assigns (together with Seller, collectively, “Seller’s
Indemnified Parties”), from and against any and all damages, mechanics’ liens, liabilities, losses, demands, actions, causes of action, claims, costs and expenses (including reasonable attorneys’ fees) (collectively,
“Losses”) arising from or caused by Purchaser’s or its Consultants’ entry onto the Property, and any Inspections or other matters performed by Purchaser with respect to the Property during the Feasibility Period or
otherwise, but nothing herein shall make Purchaser or such Consultants liable for any violation of law, contamination or other matter discovered as a result of such Inspections or other matters or as a result of any obligation to report any such
findings. 
  

	 	2.5	Property Materials. 

 (a)
Within three (3) Business Days after the Effective Date, and to the extent the same exist and are in Seller’s possession or reasonable control (or readily available to Seller) (subject to Section 2.5(b) below),

  
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Seller agrees to make the documents set forth on Schedule 2.5 attached hereto (collectively, the “Materials”) available to Purchaser, whether at Seller’s offices or
through an online due diligence room, for review and copying by Purchaser at Purchaser’s sole cost and expense. To the extent that Purchaser determines that any of the Materials have not been made available or delivered to Purchaser pursuant to
this Section 2.5(a), Purchaser shall notify Seller and Seller shall use commercially reasonable efforts to deliver the same to Purchaser within three (3) days after such notification is received by Seller; provided,
however, that under no circumstances will the Feasibility Period be extended and Purchaser’s sole remedy will be to terminate this Agreement pursuant to Section 2.2 above. 

(b) In providing such information and Materials to Purchaser, other than Seller’s Representations (as defined below), Seller makes
no representation or warranty, express, written, oral, statutory, or implied, and all such representations and warranties are hereby expressly excluded and disclaimed, except as provided in Seller’s Representations. Any information and
Materials provided by Seller to Purchaser under the terms of this Agreement are for informational purposes only and, together with all reports, studies or other information prepared or compiled for Purchaser by any Consultant or other third-party in
connection with Purchaser’s investigation of the Property (collectively, “Third-Party Reports”), shall be returned by Purchaser to Seller (or the destruction thereof shall be certified in writing by Purchaser to Seller) if this
Agreement is terminated for any reason in accordance with the terms hereof. Purchaser recognizes and agrees that the Materials and other documents and information delivered or made available by Seller pursuant to this Agreement may not be complete
or constitute all of such documents which are in Seller’s possession or control, but are those that are available to Seller after reasonable inquiry to ascertain their availability. Purchaser understands that, although Seller will use
commercially reasonable efforts to locate and make available the Materials and other documents required to be delivered or made available by Seller pursuant to this Agreement, Purchaser will not rely on such Materials or other documents as being a
complete and accurate source of information with respect to the Property, and, except with respect to those items that are represented in Seller’s Representations, will instead in all instances rely exclusively on its own Inspections and
Consultants with respect to all matters which it deems relevant to its decision to acquire, own and operate the Property. 
 (c)
The provisions of this Section 2.5 shall survive the Closing and delivery of the Deed to Purchaser. 
 2.6
Contracts. On or before the Closing, Seller shall, at Seller’s sole cost and expense, terminate all equipment leases, contracts and agreements relating to the upkeep, repair, maintenance or operation of the Property to which Seller is a
party (collectively, “Contracts”), including, without limitation, all exclusive listing agreements with respect to the Premises, and all management/leasing agreements with respect to the Premises. 

2.7 Scheduled Personal Property. To the extent that Seller delivers to Purchaser prior to the expiration of the Feasibility Period
written notice of the existence of any specific items of Personal Property, then on or before the expiration of the Feasibility Period, Purchaser may deliver written notice to Seller (the “Personal Property Notice”) specifying the
specific items of Personal Properly (other than fixtures) that Purchaser desires to designate as Scheduled Personal Property on the Bill of Sale (as defined below). If Purchaser fails to deliver the Personal Property Notice on or before the
expiration of the Feasibility Period, there shall be no Scheduled Personal Property identified on the Bill of Sale. 
 2.8
Material Miscellaneous Property Assets. To the extent that Seller delivers to Purchaser prior to the expiration of the Feasibility Period written notice of the existence of any specific items of Miscellaneous Property Assets, then on or
before the expiration of the Feasibility Period, Purchaser may deliver written notice to Seller (the “Miscellaneous Property Assets Notice”) specifying the specific items of Miscellaneous Property Assets (other than Contracts) that
contain material obligations of Seller and that Purchaser desires to designate as Material Miscellaneous Property Assets on the General Assignment (as defined below). If Purchaser fails to deliver the Miscellaneous Property Assets Notice on or
before the expiration of the Feasibility Period, there shall be no Miscellaneous Property Assets Notice identified on the General Assignment. 
 ARTICLE 3 
 TITLE 

3.1 Title Documents. Within ten (10) calendar days after the Effective Date, Seller shall cause to be delivered to Purchaser
an extended coverage form commitment for title insurance (the “Title Commitment”) for the Property in an amount equal to the Purchase Price from Title Insurer binding Chicago Title Insurance Company to issue an owner’s title
insurance policy (the “Title Policy”) on American Land Title Association form (2006) with 

  
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the standard pre-printed exceptions (collectively, the “Standard Exceptions”) deleted or modified to Purchaser’s satisfaction, together with copies of all instruments
identified as exceptions therein (together with the Title Commitment, collectively, the “Title Documents”); provided; however; to the extent required by the Title Insurer, in order to cause the relevant Standard
Exceptions to be deleted or modified, Seller shall obtain, the cost and expense for which shall be shared equally by Seller and Purchaser, a new survey of the Property sufficient to enable Title Insurer to commit to delete the relevant Standard
Exceptions; provided, further, however, the Title Commitment and the Title Policy may take exception to (a) taxes and assessments for the year of Closing and subsequent years not yet due and payable and
(b) mechanics’ liens arising by, through or under Tenant or Purchaser. Seller shall be responsible for payment of the premium for the extended coverage Title Policy, the cost of any endorsements to cause removal or revision of the Standard
Exceptions and the cost of any endorsements which Seller has expressly agreed, in writing, to provide in order to cure an Objection (as defined below). Purchaser shall be solely responsible for payment of any requested endorsements. 

3.2 Survey. Within three (3) Business Days after the Effective Date, Seller shall deliver to Purchaser any existing survey of
the Property (if any, the “Existing Survey”) which to Seller’s knowledge after reasonable inquiry is in Seller’s possession or reasonable control. Within three (3) Business Days after the Effective Date, Seller shall
obtain a new survey of the Property or update the Existing Survey (the “New Survey”), which New Survey shall be delivered by Seller to Purchaser within ten (10) days after the Effective Date. The cost and expense of the New
Survey shall be shared equally by Seller and Purchaser. The Existing Survey, together with any New Survey prepared by or on behalf of Purchaser, if any, is collectively referred to herein as the “Survey.” 

3.3 Objection and Response Process. On or before the date that is three (3) days prior to the expiration of the Feasibility
Period (the “Objection Deadline”), Purchaser shall give written notice (the “Objection Notice”) to the attorneys for Seller of any matter set forth in the Title Documents or the Survey to which Purchaser objects
(the “Objections”). If Purchaser fails to tender an Objection Notice on or before the Objection Deadline, Purchaser shall be deemed to have approved and irrevocably waived any objections to any matters covered by the Title Documents
and the Survey. On or before the date that is one (1) day prior to the expiration of the Feasibility Period (the “Response Deadline”), Seller may, in Seller’s sole discretion, give Purchaser notice (the “Response
Notice”) of those Objections which Seller is willing to cure, if any. Seller shall be entitled to reasonable adjournments of the Closing Date (not to exceed the earlier of thirty (30) days or the expiration of Purchaser’s loan
commitment, if any) to cure the Objections. If Seller fails to deliver a Response Notice by the Response Deadline, Seller shall be deemed to have elected not to cure or otherwise resolve any matter set forth in the Objection Notice. If Purchaser is
dissatisfied with the Response Notice, Purchaser may, as its exclusive remedy, elect by written notice given to Seller on or before the expiration of the Feasibility Period (the “Final Response Deadline”) either (a) to accept
the Title Documents and Survey with resolution, if any, of the Objections as set forth in the Response Notice (or if no Response Notice is tendered, without any resolution of the Objections) and without any reduction or abatement of the Purchase
Price, (b) to terminate this Agreement, or (c) if such exception is a Voluntary Title Exception or Monetary Title Exception, give notice that Seller shall be obligated to remove or insure over or bond over such item which is the subject of
the Objections or Purchaser shall be entitled to cause a Removal Deduction in accordance with Section 3.5 below. If Purchaser fails to give notice to terminate this Agreement on or before the Final Response Deadline, Purchaser shall be
deemed to have elected to approve and irrevocably waived any objections to any matters covered by the Title Documents or the Survey, subject only to resolution, if any, of the Objections as set forth in the Response Notice (or if no Response Notice
is tendered, without any resolution of the Objections). 
 3.4 Permitted Exceptions. The Deed delivered pursuant to this
Agreement shall be subject to the following, all of which shall be deemed “Permitted Exceptions”: (1) a lien for nondelinquent real property taxes and special assessments for the year 2010 and thereafter, if any, (2) the
leasehold estate of Tenant under the Lease, (3) utility easements to service the Property which do not interfere with its existing use, access and improvements, (4) applicable zoning and governmental regulations and ordinances,
(5) any defects in or objections to title to the Property, or title exceptions or encumbrances, arising by, through or under Purchaser, (6) the terms and conditions of this Agreement, and (7) all matters shown in the Title Documents
and the Survey (other than any Voluntary Title Exception or Monetary Title Exceptions). 
 3.5 Monetary Title Exception and
Voluntary Title Exception. Notwithstanding anything to the contrary in this Agreement or in a Seller Response Notices, Seller shall be obligated to remove or insure over or bond over (A) any Voluntary Title Exception or (B) Monetary
Title Exceptions as hereinafter defined (other than nondelinquent real property taxes and special assessments for the year of Closing and thereafter) created by, under 

  
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or through Seller (but excluding liens arising by, through or under Tenant or Purchaser). If Seller fails to remove or insure over or bond over any such Voluntary Title Exceptions or Monetary
Title Exceptions, Purchaser shall have a right to have the Title Company pay such amounts from amounts due to be paid to Seller at Closing (each, a “Removal Deduction”). If Purchaser exercises its right to cause a Removal Deduction,
Seller shall not be deemed to have waived any rights it may have against any third party (including, without limitation, Tenant) in connection with such Removal Deduction, and Seller hereby expressly reserves any and all such rights. Purchaser
acknowledges that Seller may pursue any third party (including, without limitation, Tenant) for the payment of any amounts relating to a Removal Deduction, and is permitted to institute litigation in respect thereof without the prior written consent
of Purchaser; provided, however, that Seller may not cause the Lease to be terminated due to a Removal Deduction. For purposes of this Agreement, “Monetary Title Exception” means title exceptions affecting the Premises
which are not Permitted Exceptions and which can be removed by payment of a liquidated amount, and “Voluntary Title Exception” means (A) the lien of any mortgage, deed of trust or similar security instrument encumbering the
Property and (B) any title exceptions affecting the Property that are created or permitted by Seller after the Effective Date through the execution by Seller of one or more instruments creating or granting such exceptions or arising from
brokers, mechanics’ and materialmen’s liens. 
 ARTICLE 4 

[INTENTIONALLY DELETED] 
 ARTICLE 5 
 CLOSING 

 

	 	5.1	The Closing. 

 (a) The
consummation of the purchase and sale and related transactions contemplated by this Agreement (the “Closing”) shall occur at 11:00 a.m. (Mountain Time) on December 28, 2010 (the “Closing Date”) through an
escrow with Escrow Agent, whereby Seller, Purchaser and their attorneys need not be physically present at the Closing and may deliver documents by overnight air courier or other means. 

(b) If (a) any of the conditions precedent to Closing set forth in this Agreement (including, without limitation, Purchaser’s
Closing Conditions or Seller’s Closing Conditions) are not satisfied or deemed satisfied or waived pursuant to the terms of this Agreement on or before the Closing Date, or (b) if either party otherwise desires to extend the Closing Date,
then either party may at its election extend the Closing Date from time to time, upon notice to the other, for up to a period of three (3) days; provided, however, in no event shall the Closing Date be extended beyond
December 31, 2010. If neither Seller nor Purchaser elects to extend the Closing Date, or if the unsatisfied condition is not satisfied by any such extended date, then (i) Purchaser, if the unsatisfied condition is a condition to
Purchaser’s obligations hereunder, or (ii) Seller, if the unsatisfied condition is a condition to Seller’s obligations hereunder, may either (x) waive such condition and proceed to Closing without any abatement of the Purchase
Price, (y) terminate this Agreement, or (z) Purchaser, if the unsatisfied condition is a condition to Purchaser’s obligations hereunder and arises from a default by Seller under this Agreement, exercise its remedies pursuant to the
terms of this Agreement. if this Agreement is terminated by either party under the foregoing provisions, each party shall be relieved of further liability or obligation under this Agreement, except for the Survival Provisions. If Purchaser elects to
proceed to Closing notwithstanding an unsatisfied condition, then upon Closing such unsatisfied condition(s) shall be deemed irrevocably waived by Purchaser (subject to Purchaser’s right to specific performance as provided in this Agreement),
including any claim Purchaser might have had against Seller following Closing related to such unsatisfied condition. An election by Purchaser or Seller to terminate this Agreement because of the non-satisfaction of a condition precedent hereunder
shall release the party whose acts or omissions were in breach of this Agreement and caused such condition not to be satisfied from liability, if any, arising under this Agreement, subject only to the remedies set forth in this Agreement.

 5.2 Seller Closing Deliveries. On or prior to the Closing Date, Seller shall deliver to Escrow Agent, each of the
following items: 
 (a) One (1) original Special Warranty Deed (the “Deed”), in the form attached hereto
as Exhibit “B”, subject only to the Permitted Exceptions, executed by Seller. 
 (b) One (1) original Bill
of Sale (the “Bill of Sale”), in the form attached hereto as Exhibit “C” executed by Seller. 

  
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 (c) Two (2) originals of the General Assignment, substantially in the form attached
hereto as Exhibit “D” (the “General Assignment”), executed by Seller. 
 (d) Two
(2) originals of the Assignment of Lease, substantially in the form attached hereto as Exhibit “E” (the “Lease Assignment”), executed by Seller. 

(e) A notification letter to Tenant prepared and executed by Seller substantially in the form attached hereto as Exhibit
“F” (the “Tenant Notification Letter”), executed by Seller. 
 (f) One (1) original Tenant
Estoppel Certificate (as defined below), in the form permitted pursuant to Section 7.1 below, signed by Tenant. 

(g) A closing statement executed by Seller. 
 (h) A title affidavit or, at Seller’s option an indemnity, as applicable, in the customary form reasonably acceptable to Seller to enable Title Insurer to delete or modify the Standard Exceptions
(other than matters constituting any Permitted Exceptions and matters which are to be completed or performed post-Closing) to be issued pursuant to the Title Commitment; provided, however, that such affidavit does not impose any
additional obligations, in any material respect, on Seller other than as set forth in this Agreement. 
 (i) A certification of
Seller’s non-foreign status pursuant to Section 1445 of the internal Revenue Code of 1986, as amended. 
 (j)
Resolutions, certificates of good standing and such other organizational documents as Title Insurer shall reasonably require evidencing Seller’s authority to consummate this transaction. 

(k) Evidence that the Terminated Contracts have been terminated. 

5.3 Purchaser Closing Deliveries. On the Closing Date, Purchaser shall deliver to Escrow Agent (for disbursement to Seller upon
the Closing) the following items with respect to the Property being conveyed at the Closing: 
 (a) The full Purchase Price
(with a credit for the Deposit) plus or minus the adjustments or prorations required by this Agreement. 
 (b) If and only to
the extent required by the Title Company, a title affidavit (or at Purchaser’s option an indemnity) pertaining solely to Purchaser’s activity on the Property prior to Closing, in the customary form reasonably acceptable to Purchaser, to
enable Title Insurer to delete the Standard Exceptions (other than matters constituting any Permitted Exceptions and matters which are to be completed or performed post-Closing) to be issued pursuant to the Title Commitment; provided,
however, that such affidavit does not subject Purchaser to any greater liability, or impose any additional obligations, other than as set forth in this Agreement. 
 (c) Any declaration or other statement which may be required to be submitted to the local assessor with respect to the terms of the sale of the Property (collectively, the “Real Property Transfer
Declaration”). 
 (d) A closing statement executed by Purchaser. 

(e) Two (2) original countersigned counterparts of the General Assignment, executed by Purchaser. 

(f) Two (2) original countersigned counterparts of the Lease Assignment, executed by Purchaser. 

(g) Two (2) original countersigned counterparts of the Tenant Notification Letter. 

(h) Resolutions, certificates of good standing and such other organizational documents as Title Insurer shall reasonably require
evidencing Purchaser’s authority to consummate this transaction. 
  

	 	5.4	Closing Prorations and Adjustments. 

 (a) General. Rents shall be prorated as of 11:59 P.M. on the day immediately preceding the Closing Date, based on a 365 day year, Seller being charged or credited, as appropriate, for all of the
same attributable to the period up to the Closing Date (and credited for any amounts paid by Seller attributable to the 

  
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period on or after the Closing Date, if assumed by Purchaser) and Purchaser being responsible for, and credited or charged, as the case may be, for all of the same attributable to the period on
and after the Closing Date; provided that there shall be no proration of any item paid for directly by Tenant. Seller shall prepare, or shall cause Escrow Agent to prepare, a proration schedule (the “Proration Schedule”) of the
adjustments described in this Section 5.4 for Purchaser’s approval no later than three (3) business days prior to the Closing Date. Such adjustments shall be paid by Purchaser to Seller (if the prorations result in a net credit
to Seller) or by Seller to Purchaser (if the prorations result in a net credit to Purchaser), by increasing or reducing the cash to be paid by Purchaser at Closing. 
 (b) Operating Expenses. All of the operating, maintenance, taxes (other than real estate taxes, such as rental taxes) and other expenses incurred in operating the Property that Seller customarily
pays (if any), and any other costs incurred in the ordinary course of business for the management and operation of the Property (if any), shall be prorated on an accrual basis. Seller shall pay all such expenses that accrue prior to Closing and
Purchaser shall pay all such expenses that accrue from and after the Closing Date. 
 (c) Utilities. Seller warrants and
represents that Seller has not contracted for nor is obligated to pay any utilities serving the Property and that Tenant has contracted for and is obligated to pay all utilities serving the Property, including without limitation all charges and
assessments for sewer and water and other utilities, including charges for consumption of electricity, steam and gas and any charges for utilities. Notwithstanding anything in this Agreement to the contrary, no proration shall be made at the Closing
with respect to such utilities that Tenant is required to pay pursuant to the Lease. Prior to Closing, Escrow Agent shall confirm that there are no unpaid charges for utilities serving the Property except for utilities that have been contracted for
in the name of Tenant; provided, however, that if Escrow Agent fails or refuses to make such confirmation, such failure shall not constitute a default by Seller hereunder. 

(d) Real Estate Taxes. Purchaser acknowledges and agrees that, pursuant to the Lease, Tenant is required to pay all real estate ad
valorem and similar taxes and assessments for the Property directly to the applicable taxing authority. Accordingly, and notwithstanding anything in this Agreement to the contrary, no proration shall be made at the Closing with respect to real
estate ad valorem or similar taxes and assessments for the Property. 
  

	 	(e)	The Lease. 

 (i) All
collected rent (whether fixed monthly rentals, additional rentals, escalation rentals, retroactive rentals, operating cost pass-throughs or other sums and charges payable by Tenant under the Lease shall be prorated as of the Closing Date (prorated
for any partial month). Purchaser shall receive all collected rent and income attributable to dates from and after the Closing Date. Seller shall receive all collected rent and income attributable to dates prior to the Closing Date. Notwithstanding
the foregoing, no prorations shall be made in relation to either (A) non-delinquent rents which have not been collected as of the Closing Date, or (B) delinquent rents existing, if any, as of the Closing Date (the foregoing (A) and
(B) referred to herein as the “Uncollected Rents”). In adjusting for Uncollected Rents, no adjustments shall be made in Seller’s favor for rents which have accrued and are unpaid as of the Closing, but Purchaser shall pay
Seller such accrued Uncollected Rents as and when collected by Purchaser; provided, however, that Purchaser shall have no obligation to bill Tenant for all Uncollected Rents or to take any actions to collect Uncollected Rents and any
amounts collected shall first be applied to Rents and other amounts payable to Purchaser as landlord under the Lease. 
 (ii)
Seller warrants and represents that Seller is not holding any security deposits or letters of credit in connection with the Lease. 
 (iii) With respect to operating expenses, taxes, utility charges, other operating cost pass-throughs, retroactive rental escalations, sums or charges payable by Tenant to Seller as landlord under the
Lease, to the extent that Seller has received as of the Closing payments allocable to periods subsequent to Closing, the same shall be properly prorated with an adjustment in favor of Purchaser, and Purchaser shall receive a credit therefor at
Closing. With respect to any payments received by Purchaser after the Closing allocable to Seller prior to Closing, Purchaser shall promptly pay the same to Seller. 
 (f) Insurance. No proration shall be made in relation to insurance premiums and insurance policies maintained by Tenant under the Lease or any excess insurance maintained by Seller, which excess
insurance policies will not be assigned to Purchaser. 

  
 10 

 (g) Employees. All of Seller’s and Seller’s manager’s on-site
employees shall have their employment at the Property terminated as of the Closing Date. 
 (h) Closing Costs. Purchaser
shall pay (i) any premiums or fees required to be paid by Purchaser with respect to the Title Policy pursuant to Section 3.1 (ii) one-half (%) of the customary closing costs of Escrow Agent and the New Survey and
(iii) the cost of recording the Memorandum (as defined in Section 13.19 below) and the Escrowed Termination. Seller shall pay any transfer taxes and the cost of recording the Deed (including, without limitation, any stamp or
documentary fees), any premium or fees with respect to the Title Policy to the extent required by Section 3.1, and one-half (%) of the customary closing costs of Escrow Agent and the New Survey. 

(i) Possession. Possession of the Property, subject to the Lease and Permitted Exceptions, shall be delivered to Purchaser at the
Closing upon release from escrow of all items to be delivered by Purchaser pursuant to Section 5.3, including, without limitation, the Purchase Price. An original of the fully executed Lease (and all amendments) shall be delivered to
Purchaser at Closing. To the extent reasonably available to Seller, originals or copies of all lease files, warranties, guaranties, operating manuals, keys to the Property, and Seller’s books and records (other than proprietary information)
regarding the Property shall be made available to Purchaser at the Closing. 
 (j) The Roof Warranty. Purchaser
acknowledges that (i) Seller has disclosed to Purchaser that Seller (as the landlord under the Lease) has not, as of the Effective Date, obtained the roof warranty that the landlord under the Lease may be required to obtain pursuant to
Section 2 of the Third Amendment to the Lease (the “Roof Warranty”), (ii) notwithstanding anything in this Agreement to the contrary, Seller shall have no obligation to obtain the Roof Warranty prior to the Closing
Date, (iii) if the Closing occurs, Purchaser shall be solely responsible (as landlord under the Lease) for obtaining the Roof Warranty and (iv) the Purchase Price has been negotiated to reflect the allocation of responsibility for the Roof
Warranty set forth in this Section 5.4(i). 
 (k) Survival. The provisions of this Section 5.4
shall survive the Closing and delivery of the Deed to Purchaser. 
 5.5 Post-Closing Adjustments. In general, and except
as provided in this Agreement or the Closing Documents, Seller shall be entitled to all income, and shall pay all expenses, relating to the operation of the Property for the period as of 11:59 P.M. on the day immediately preceding the Closing Date
and Purchaser shall be entitled to all income, and shall pay all expenses, relating to the operation of the Property for the period commencing on and after the Closing Date. Purchaser or Seller may request that Purchaser and Seller undertake to
re-adjust any item on the Proration Schedule (or any item omitted therefrom) in accordance with the provisions of Section 5.4 of this Agreement; provided, however, that neither party shall have any obligation to re-adjust
any items (a) after the expiration of 120 days after the Closing, or (b) subject to such 120-day period, unless such items exceed $2,500.00 in magnitude (either individually or in the aggregate). Notwithstanding anything in this Article
5 to the contrary, Seller shall have no obligation to pay (and Purchaser shall not receive a credit at Closing for) any operating expenses that are attributable to the period beginning on and after the Closing Date to the extent that Purchaser
is entitled after Closing to reimbursement of operating expenses, or the recovery of any increase in operating expenses, from Tenant under the Lease, regardless of whether Purchaser actually collects such reimbursement or increased operating
expenses from Tenant, it being understood and agreed by Purchaser and Seller that (i) as between Purchaser and Seller, Purchaser shall be responsible for payment of all of such operating expenses on and after Closing, and (ii) the burden
of collecting such reimbursements shall be solely on Purchaser. The provisions of this Section 5.5 shall survive the Closing and delivery of the Deed to Purchaser. 
 ARTICLE 6 
 REPRESENTATIONS AND WARRANTIES; AS IS 

6.1 Seller’s Representations. Except, in all cases, for any fact, information or condition disclosed in the Title Documents,
the Permitted Exceptions, the Lease, the Tenant Estoppel Certificate, or which is otherwise known by Purchaser in its actual knowledge prior to the Closing, Seller represents and warrants to Purchaser the following (collectively,
“Seller’s Representations”) as of the Effective Date and as of the Closing Date: 
 (a) Seller is a
limited liability company duly organized, validly existing and in good standing under the laws of the state of Colorado. Subject to (i) Tenant’s Superior Right and (ii) Section 8.3(d) below, Seller has, or at the Closing
shall have, the entity power and authority to sell and convey the Property and to execute the 

  
 11 

 
documents to be executed by Seller, and, prior to the Closing, will have taken all limited liability company actions required for the execution and delivery of this Agreement, and the
consummation of the transactions contemplated by this Agreement. The compliance with or fulfillment of the terms and conditions hereof will not conflict with, or result in a breach of, the terms, conditions or provisions of, or constitute a default
under, any contract to which Seller is a party or by which Seller is otherwise bound, which conflict, breach or default would have a material adverse affect on Seller’s ability to consummate the transaction contemplated by this Agreement or on
the Property. Subject to (A) Tenant’s Superior Right and (8) Section 8.3(d) below, this Agreement is a valid, binding and enforceable agreement against Seller in accordance with its terms. 

(b) Other than the Lease, the Property is not subject to any written lease executed by Seller or, to Seller’s knowledge, any other
possessory interests of any person. Seller has delivered or made available to Purchaser a true, correct and complete copy of the Lease, including, without limitation, true, correct and complete copies of the initial guaranty of the Lease and any
subsequent amendments, transfers and assignments of the guaranty of the Lease. The Lease is in full force and effect as of the Effective Date and contains the entire agreement between Seller and the Tenant with respect to such leased space. Seller
has not given any written notice of any breach or default under the Lease which remains uncured. To the best of Seller’s knowledge, there are no pending rent audits by Tenant. There are no outstanding leasing costs due from Seller as Landlord
under the terms of the Lease. 
 (c) Seller is not a “foreign person,” as that term is used and defined in the
Internal Revenue Code, Section 1445, as amended. 
 (d) There are no actions, proceedings, litigation or governmental
investigations or condemnation actions either pending or, to Seller’s knowledge, threatened against the Property. 
 (e)
Seller has not received any written notice from a governmental agency of any violations of any federal, state, county or municipal law, ordinance, order, regulation or requirement affecting the Property that remain uncured. Seller has received no
notice from any municipal, state, or other statutory authority, any board of fire underwriters, improvement association, or architectural committee, relating to noncompliance with any applicable health, safety or building code, statute, order,
regulation or restriction that has not been corrected. Seller has not received any written notice from a governmental authority or other person relating to violation of any environmental laws affecting the Property. 

(f) Seller is not a Prohibited Person (as defined below). As used herein, a “Prohibited Person” is (i) a person or
entity that is listed in the Annex to, or is otherwise subject to the provisions of, Executive Order No. 13224 on Terrorist Financing (effective September 24, 2001) (the “Executive Order”), (ii) a person or entity
owned or controlled by, or acting for or on behalf of any person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order, (iii) a person or entity that is named as a “specially designated
national” or “blocked person” on the most current list published by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) at its official website,
http://www.treas.gov/offices/enforcement/ofac, (iv) a person or entity that is otherwise the target of any economic sanctions program currently administered by OFAC, or (v) a person or entity that is affiliated with any person or
entity identified in clauses (i), (ii), (iii) and/or (iv) of this Section 6.5(f). 
 (g) Seller has not
given or granted any person any unrecorded right or option to acquire all or any of the Property or the proceeds derived from the Property or the Lease, except for the grants, pledges and other assignments made by Seller to the Property’s
current mortgagee, all of which shall be terminated or satisfied in fact and of record as of and at the Closing. 
 (h) As of
the Effective Date, there are no Contracts; provided, however, nothing in this Section 6.1(h) shall relieve Seller of its obligations pursuant to Section 2.6 above. 

(i) As of the Effective Date, there is no Personal Property; provided, however, nothing in this Section 6.1(i)
shall relieve Seller of its obligations pursuant to Section 5.2(b) above. 
 (j) Seller has received no written
notice from any city, county, state or federal authority of any pending or contemplated condemnation or change of zoning affecting the Property or any violation of any building or zoning codes; and to Seller’s knowledge (having made due inquiry
of the Property manager), no such notice has been received by the Property manager. 

  
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 (k) There is no litigation pending against or affecting the Property or which otherwise
might materially affect the value or the use or operation of the Property for its intended purpose or the ability of Seller to perform its obligations under this Agreement, and to the best of Seller’s knowledge no such action or proceeding has
been threatened in writing. Seller shall notify Purchaser promptly of any such litigation of which Seller becomes aware. There are no attachments, executions, assignments for the benefit of creditors, or voluntary or involuntary proceedings under
the Bankruptcy Code, 11 U.S.C. §101, et seq., or under any other debtor relief laws contemplated by or pending or, to Seller’s actual knowledge, threatened against Seller. 

(l) The Designated Representative (as defined below) are the persons who would receive notice from other principals, agents or employees
of Seller or from other persons or entities of any of the matters described in the representations and warranties in this Agreement. 
 6.2 AS-IS. Except as otherwise expressly stated, if at all, in this Agreement or in any agreement or instrument executed and delivered by Seller to Purchaser at the Closing, including but not
limited to Seller’s Representations and any warranty of title expressly set forth in the Deed, the Property is expressly purchased and sold “AS IS,” “WHERE IS,” and “WITH ALL FAULTS.” The Purchase Price and the
terms and conditions set forth herein are the result of arm’s-length bargaining between entities familiar with transactions of this kind. Except as otherwise expressly stated, if at all, in this Agreement or in any agreement or instrument
executed and delivered by Seller to Purchaser at the Closing, including but not limited to Seller’s Representations and any warranty of title expressly set forth in the Deed, Purchaser is not relying upon: any information provided by Seller or
statements, representations or warranties, express or implied, made by or enforceable directly against Seller, including, without limitation, any relating to the value of the Property, the physical or environmental condition of the Property, any
state, federal, county or local law, ordinance, order or permit; or the suitability, compliance or lack of compliance of the Property with any regulation, or any other attribute or matter of or relating to the Property. Except as otherwise expressly
stated, if at all, in this Agreement or in any agreement or instrument executed and delivered by Seller to Purchaser at the Closing, including but not limited to Seller’s Representations and any warranty of title expressly set forth in the
Deed, Purchaser, its successors and assigns, and anyone claiming by, through or under Purchaser, hereby fully releases Seller’s Indemnified Parties from, and irrevocably waives its right to maintain, any and all claims and causes of action that
it or they may now have or hereafter acquire against Seller’s Indemnified Parties with respect to any and all Losses arising from or related to any defects, errors, omissions or other conditions affecting the Property. Purchaser represents and
warrants that, as of the date hereof and as of the Closing Date, it has and shall have reviewed and conducted such independent analyses, studies (including, without limitation, environmental studies and analyses concerning the presence of lead,
asbestos, water intrusion and/or fungal growth and any resulting damage, PCBs and radon in and about the Property), reports, investigations and inspections as it deems appropriate in connection with the Property. If Seller provides or has provided
any documents, summaries, opinions or work product of consultants, surveyors, architects, engineers, title companies, governmental authorities or any other person or entity with respect to the Property, Purchaser and Seller agree that except as
otherwise expressly stated, if at all, in this Agreement or in any agreement or instrument executed and delivered by Seller to Purchaser at the Closing, including but not limited to Seller’s Representations and any warranty of title expressly
set forth in the Deed, Seller has done so or shall do so only for the convenience of both parties, Purchaser shall not rely thereon and the reliance by Purchaser upon any such documents, summaries, opinions or work product shall not create or give
rise to any liability of or against Seller’s Indemnified Parties. Except as otherwise expressly stated, if at all, in this Agreement or in any agreement or instrument executed and delivered by Seller to Purchaser at the Closing, including but
not limited to Seller’s Representations and any warranty of title expressly set forth in the Deed, Purchaser shall rely only upon any title insurance obtained by Purchaser with respect to title to the Property. Except as otherwise expressly
stated, if at all, in this Agreement or in any agreement or instrument executed and delivered by Seller to Purchaser at the Closing, including but not limited to Seller’s Representations and any warranty of title expressly set forth in the
Deed, Purchaser acknowledges and agrees that no representation has been made and no responsibility is assumed by Seller with respect to current and future applicable zoning or building code requirements or the compliance of the Property with any
other laws, rules, ordinances or regulations, the financial earning capacity or expense history of the Property, the continuation of contracts, continued occupancy levels of the Property, or any part thereof, or the continuation of the Lease or
Tenant’s occupancy thereunder. Purchaser hereby releases Seller’s Indemnified Parties from any and all claims and liabilities relating to the foregoing matters. Each of Seller’s Indemnified Parties shall be third-party beneficiaries
of this Section 6.2. The provisions of this Section 6.2 shall survive the Closing and delivery of the Deed to Purchaser. Notwithstanding the preceding provisions of this Section 6.2, if (I) Tenant or any
other third party brings a lawsuit against Purchaser after the Closing, and (II) such 

  
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lawsuit involves a claim of injury, harm, or other loss or liability that is alleged to have been sustained or incurred by Tenant or said third party wholly or partly during the time that Seller
owned the Property (including claims under Addendum No. 1 to Lease with respect to pre-existing environmental conditions on the Property, then this Section 6.2 shall not preclude the Purchaser from asserting whatever rights it might
otherwise have at law or in equity against the Seller (including, without limitation, the rights to join the Seller in such lawsuit and seek contribution from the Seller in such action). 

6.3 Survival of Seller’s Representations. Any representations and warranties made “to Seller’s or Purchaser’s
knowledge” shall not be deemed to imply any duty of inquiry. Seller and Purchaser agree that Seller’s Representations shall survive Closing for a period of six (6) months (the “Survival Period”). After expiration of
the Survival Period, Seller shall have no liability with respect to Seller’s Representations or with respect to any breaches of any covenants, indemnification obligations or other obligations set forth in this Agreement or in any agreement or
instrument executed and delivered by Seller to Purchaser at the Closing (collectively, “Post-Closing Obligations”). Under no circumstances shall Seller be liable to Purchaser for more than $200,000.00 (the “Liability
Limitation”) in any individual instance or in the aggregate for all breaches of Seller’s Representations or Post-Closing Obligations, nor shall Purchaser be entitled to bring any claim for a breach of Seller’s Representations or
Post-Closing Obligations unless the claim for damages (either in the aggregate or as to any individual claim) by Purchaser exceeds $10,000.00. In the event that Seller breaches any representation contained in Section 6.1 and Purchaser
had knowledge of such breach prior to the Closing Date, Purchaser shall be deemed to have waived any right of recovery, and Seller shall not have any liability in connection therewith. If Closing occurs, Seller covenants and agrees that, during the
Survival Period, it: (a) shall not dissolve, (b) shall retain cash equal to or greater than the Liability Limitation (collectively, the “Reserved Funds”), and shall not distribute all or any portion of the Reserved Funds,
and (c) shall notify, in writing, its managers of Seller’s covenants set forth in this Section 6.3. 
 6.4
Definition of Knowledge. Any representations and warranties made “to Seller’s or Purchaser’s knowledge” shall not be deemed to imply any duty of inquiry. For purposes of this Agreement, the term “to Seller’s
knowledge” or “to the best of Seller’s knowledge” shall mean and refer only to actual knowledge of the Designated Representative (as defined below) of Seller and shall not be construed to refer to the knowledge of any
other partner, officer, director, agent, employee or representative of Seller, or any affiliate of Seller, or to impose upon such Designated Representative any duty to investigate the matter to which such actual knowledge or the absence thereof
pertains, or to impose upon such Designated Representative any individual personal liability. As used herein, the term “Designated Representative” shall refer, collectively, to Timothy D. Rose and Joe Wicks, who are the Property’s
current asset managers. The fact that reference is made to the personal knowledge of the Designated Representative shall not render the Designated Representative personally liable for any breach of any of the foregoing representations and
warranties; rather, however, Purchaser’s sole recourse in the event of any such breach shall be to the assets of Seller. 
 6.5 Representations And Warranties Of Purchaser. For the purpose of inducing Seller to enter into this Agreement and to consummate the sale and purchase of the Property in accordance herewith,
Purchaser represents and warrants to Seller the following as of the Effective Date and as of the Closing Date: 
 (a) Purchaser
is a limited liability company duly organized, validly existing and in good standing under the laws of the state of Delaware. 

(b) Purchaser, acting through any of its duly empowered and authorized officers or members, has all necessary entity power and authority
to own and use its properties and to transact the business in which it is engaged, and has full power and authority to enter into this Agreement, to execute and deliver the documents and instruments required of Purchaser herein, and to perform its
obligations hereunder; and no consent which has not been obtained of any of Purchaser’s partners, directors, officers or members are required to so empower or authorize Purchaser. The compliance with or fulfillment of the terms and conditions
hereof will not conflict with, or result in a breach of, the terms, conditions or provisions of, or constitute a default under, any contract to which Purchaser is a party or by which Purchaser is otherwise bound, which conflict, breach or default
would have a material adverse affect on Purchaser’s ability to consummate the transaction contemplated by this Agreement. This Agreement is a valid, binding and enforceable agreement against Purchaser in accordance with its terms. 

(c) No pending or, to the knowledge of Purchaser, threatened (in writing) litigation exists which if determined adversely would restrain
Purchaser’s consummation of the transactions contemplated by this Agreement or would declare illegal, invalid or non-binding any of Purchaser’s obligations or covenants to Seller. 

  
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 (d) Except as otherwise expressly stated, if at all, in this Agreement or in any agreement
or instrument executed and delivered by Seller to Purchaser at the Closing, including but not limited to Seller’s Representations and any warranty of title expressly set forth in the Deed, Purchaser has not relied on any representation or
warranty made by Seller or any representative of Seller in connection with this Agreement and the acquisition of the Property. 

(e) Purchaser is not a Prohibited Person. To Purchaser’s knowledge, none of its investors, affiliates or brokers or other agents (if
any), acting or benefiting in any capacity in connection with this Agreement is a Prohibited Person. The funds or other assets Purchaser will transfer to Seller under this Agreement are not the property of, or beneficially owned, directly or
indirectly, by a Prohibited Person. The funds or other assets Purchaser will transfer to Seller under this Agreement are not the proceeds of specified unlawful activity as defined by 18 U.S.C. § 1956(c)(7). 

The provisions of this Section 6.5 shall survive the Closing and delivery of the Deed to Purchaser. 

 

	 	6.6	Breach of Seller’s Representations Prior to Closing. 

 (a) If, at or prior to the Closing, Purchaser obtains actual knowledge that any of Seller’s Representations are untrue, inaccurate or incorrect in any material respect, Purchaser shall give Seller
prompt written notice thereof after obtaining such knowledge (but, in any event, prior to the Closing). If, at or prior to the Closing, Seller obtains actual knowledge that any of Seller’s Representations are untrue, inaccurate or incorrect in
any material respect, Seller shall give Purchaser written notice thereof within three (3) Business Days of obtaining such knowledge (but, in any event, prior to the Closing). In either such event, if such misrepresentation or breach is
susceptible to cure, Seller shall have the right to cure such misrepresentation or breach and shall be entitled to a reasonable adjournment of the Closing (not to exceed five (5) days) for the purpose of such cure. 

(b) If any misrepresentation or breach of any of Seller’s Representations is first discovered by Purchaser prior to Closing and
Seller either does not elect to or is not able to so cure any such misrepresentation or breach, then Purchaser, as its sole remedies for any and all such misrepresentations or breaches, shall have the following rights: 

(i) If any of Seller’s Representations are untrue, inaccurate or incorrect in any material respect, then Purchaser may elect either
(A) to waive such misrepresentations or breaches and consummate the Closing without any reduction of or credit against the Purchase Price (provided, however, if Purchaser waives such misrepresentations or breaches and consummates the Closing in
accordance with the foregoing, Seller shall continue to be obligated to remove or insure over or bond over (i) any Voluntary Title Exception or (ii) Monetary Title Exceptions (other than nondelinquent real property taxes and special
assessments for the year of Closing and thereafter) created by, under or through Seller, and if Seller fails to remove or insure over or bond over any such Voluntary Title Exceptions or Monetary Title Exceptions, Purchaser shall have a right to have
the Title Company pay such amounts as a Removal Deduction at Closing), or (B) to terminate this Agreement by written notice given to Seller on the Closing Date, in which event this Agreement shall be terminated, and to the extent that such
misrepresentation or breach is as a result of Seller’s intentional acts or intentional failure to disclose information known by Seller as of the Effective Date, Purchaser shall have the right to seek recovery from Seller for any and all of
Purchaser’s due diligence costs (not to exceed Capped Default Damages (as defined below) and, thereafter, neither party shall have any further rights or obligations hereunder except for the Survival Provisions. 

(ii) If any of Seller’s Representations are untrue, inaccurate or incorrect but are not, in the aggregate, untrue, inaccurate or
incorrect in any material respect, Purchaser shall be deemed to waive such misrepresentation or breach of warranty, and Purchaser shall be required to consummate the Closing without any reduction of or credit against the Purchase Price. 

(c) The untruth, inaccuracy or incorrectness of Seller’s Representations shall be deemed material for purposes of this Agreement
only if Purchaser’s aggregate damages resulting from the untruth, inaccuracy or incorrectness of Seller’s Representations (i) are reasonably estimated to exceed $5,000.00 or (ii) are with respect to the Lease or the title to the
Property. 

  
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 ARTICLE 7 
 OPERATION OF THE PROPERTY 
 7.1 Estoppel
Certificates. Seller shall request that Tenant execute and deliver an estoppel certificate (the “Tenant Estoppel Certificate”), substantially in the form of Exhibit “H” attached hereto and incorporated herein by
this reference; provided, however, that if Tenant is required or permitted under the terms of the Lease to provide less information or to otherwise make different statements in a certification of such nature than are set forth on
Exhibit “H” attached hereto, then Purchaser shall accept any modifications made to such Tenant Estoppel Certificate to the extent that such changes are consistent with the minimum requirements set forth in the Lease. provided, further, however, that if
Seller is unable to obtain the Tenant Estoppel Certificates, such failure shall not constitute a default by Seller hereunder. 

7.2 Subordination. Non-Disturbance and Attornment Agreement. At the time of delivery of the Tenant Estoppel Certificate to Tenant,
Seller shall also request that Tenant execute and deliver a subordination, non-disturbance and attornment agreement addressed to Purchaser’s lender (the “SNDA”), in substantially the form of Exhibit “H”
attached hereto and incorporated herein by this reference. Seller shall transmit the SNDA to the Tenant along with the Tenant Estoppel Certificate and shall request that the SNDA be completed and returned along with the Tenant Estoppel Certificate.
Receipt of the SNDA in the form attached, or with such changes requested by Tenant and approved by Purchaser, shall be a condition of Closing and if Seller is unable to obtain the SNDA from Tenant, such failure shall not constitute a default by
Seller hereunder but shall entitle Purchaser to terminate this Agreement by written notice given to Seller on or prior to the Closing Date, in which event this Agreement shall be terminated and, thereafter, neither party shall have any further
rights or obligations hereunder except for the Survival Provisions 
 7.3 Tenant’s Insurance. Seller shall request
that Tenant provide evidence, on ACORD Form 28, of the insurance that Tenant is required to carry pursuant to the Lease (“Evidence of Insurance”); provided, however, that if Seller is unable to obtain Evidence of
Insurance, such failure shall not constitute a default by Seller hereunder. 
 7.4 The Lease. So long as this Agreement
is in full force and effect, Seller shall not amend, modify or terminate the Lease; provided, however, that Seller may, without Purchaser’s consent, (a) enter into amendments to the Lease to which Tenant is entitled under the
terms the Lease without the discretion, any approval or consent of Seller, as landlord, and (b) enforce Seller’s rights against Tenant pursuant to the Lease, other than termination of the Lease. 

7.5 General Operation of Property. Except as specifically set forth in this Article 7, Seller shall operate the Property
after the Effective Date in the ordinary course of business, and except as necessary in Seller’s sole discretion to address (a) any life or safety issue at the Property or (b) any requirement set forth under the Lease, Seller will not
make any material alterations to the Property or remove any material Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, delayed or conditioned; provided, however, that, so
long as this Agreement has not been terminated, Seller will not (i) perform any grading or excavation, construction, or removal of any improvements, or make any other change or improvement upon or about the Property, or (ii) commit any
waste or nuisance upon the Property. Nothing in this Section 7.5 shall limit, restrict or prohibit Seller, without Purchaser’s consent, from performing any repair, maintenance or tenant improvement projects which Seller is required
to perform under the Lease. 
 7.6 Liens. Other than (a) utility easements and temporary construction easements
granted by Seller in the ordinary course of business or that Seller is required to grant pursuant to the Lease and (b) Voluntary Title Exceptions, Seller covenants that it will not create or cause any lien or encumbrance to attach to the
Property between the Effective Date and the Closing Date (other than as provided in Section 7.1) unless Purchaser approves such lien or encumbrance, which approval shall be in Purchaser’s sole discretion. If Purchaser in its sole
discretion approves any such subsequent lien or encumbrance, the same shall be deemed a Permitted Exception for all purposes hereunder. 
 ARTICLE 8 
 CONDITIONS PRECEDENT TO CLOSING 

8.1 Purchaser’s Closing Conditions. Purchaser’s obligation to close under this Agreement shall be subject to and
conditioned upon the fulfillment of each and all of the following conditions precedent (collectively, “Purchaser’s Closing Conditions”): 

  
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 (a) Seller shall have delivered to Purchaser, on or before the Closing Date, the Tenant
Estoppel Certificate, the SNDA and Evidence of Insurance (in the forms permitted pursuant to Sections 7.1, 7.2 and 7.3 above), signed by Tenant. The information set forth in the Tenant Estoppel Certificate shall be deemed to modify
Seller’s Representations; 
 (b) All of the documents required to be delivered by Seller to Purchaser at the Closing
pursuant to the terms and conditions hereof shall have been delivered; 
 (c) Each of Seller’s Representations shall be
true, accurate and complete in all material respects as of the Closing Date; 
 (d) Seller shall have complied with, fulfilled
and performed in all material respects each of the covenants, terms and conditions to be complied with, fulfilled or performed by Seller hereunder; 
 (e) Seller shall not be a debtor in any bankruptcy proceeding nor shall have been in the last 6 months a debtor in any bankruptcy proceeding; 

(f) Tenant shall not be a debtor in any bankruptcy proceeding; 
 (g) The Lease (and the guaranty thereof) shall be in full force and effect and unmodified (except as otherwise permitted pursuant to Section 7.4 above); 

(h) No rent in excess of $5,000.00 shall be delinquent more than five (5) Business Days after the date due under the Lease; and

 (i) If, and only if, Major Damage (as defined in Section 10.1 below) has occurred prior to Closing, Tenant has
waived all rights under the Lease to terminate the Lease as a result of such Major Damage. 
 In addition to the foregoing,
Purchaser intends to pay a portion of the Purchase Price from the proceeds of a first mortgage loan (“Loan”) at existing market rates and terms. Purchaser has applied to Keybank National Association or other bank, savings and loan
association, mortgage broker, trust company, or other similar lending institution (collectively, “Lender”) for such Loan and will promptly and diligently (i) execute all documents and accurately and completely provide to Lender
all information it reasonably requires; and (ii) pay all customary costs of applying for and obtaining such Loan including, without limitation, the cost of any required appraisal. If Purchaser has performed its obligations in (i) and
(ii) above and does not receive funding at Closing, Purchaser shall have a right to terminate this Agreement, have the Deposit returned to Purchaser, and the parties shall be released from any further obligation or liability hereunder or
related hereto except for the Survival Provisions. The parties acknowledge that the financing contingency contained herein is for the benefit of Purchaser, and Purchaser may waive the financing contingency with the prior written consent of Seller.

 8.2 Failure of Purchaser’s Closing Conditions. If any of Purchaser’s Closing Conditions are not met,
Purchaser may either (a) waive any of Purchaser’s Closing Conditions and proceed to Closing on the Closing Date with no offset or deduction from the Purchase Price, (b) terminate this Agreement or (c) if such failure constitutes
a default by Seller, exercise any of its remedies pursuant to Section 9.2 below. 
 8.3 Seller’s Closing
Conditions. Without limiting any of the rights of Seller elsewhere provided for in this Agreement, Seller’s obligation to close with respect to conveyance of the Property under this Agreement shall be subject to and conditioned upon the
fulfillment of each and all of the following conditions precedent (collectively, “Seller’s Closing Conditions”): 
 (a) All of the documents and funds required to be delivered by Purchaser to Seller at the Closing pursuant to the terms and conditions hereof shall have been delivered; 

(b) Each of the representations, warranties and covenants of Purchaser contained herein shall be true, accurate and complete in all
material respects as of the Closing Date; 
 (c) Purchaser shall have complied with, fulfilled and performed in all material
respects each of the covenants, terms and conditions to be complied with, fulfilled or performed by Purchaser hereunder; 
 (d)
There shall not be any litigation pending or, to the knowledge of either Purchaser or Seller, threatened (in writing) which, if determined adversely, would restrain the consummation of any of the

  
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transactions contemplated by this Agreement or declare illegal, invalid or nonbinding any of the covenants or obligations of Purchaser; 

(e) Purchaser shall not be a debtor in any bankruptcy proceeding nor shall have been in the last 6 months a debtor in any bankruptcy
proceeding; and 
 8.4 Failure of Seller’s Closing Conditions. If any of Seller’s Closing Conditions are not
met, Seller may either (a) waive any of Seller’s Closing Conditions and proceed to Closing on the Closing Date with no offset or deduction from the Purchase Price, or (b) terminate this Agreement, and, if such failure constitutes a
default by Purchaser, exercise any of Seller’s remedies pursuant to Section 9.1 below. Nothing in this Article 8 shall limit or otherwise modify Seller’s right under Section 5.1 above. 

ARTICLE 9 

DEFAULTS AND REMEDIES 
 9.1 Purchaser Default. If Purchaser defaults in its obligations hereunder to (a) deliver the Initial Deposit (or any other deposit or payment required of Purchaser hereunder), (b) deliver
to Seller the deliveries specified under Section 5.3 on the date required thereunder, or (c) deliver the Purchase Price at the time required by Section 1.2(d) and close on the purchase of the Property on the Closing
Date, then, if, in any case such default continues for more than three (3) calendar days after written notice thereof from Seller, Purchaser shall forfeit the Deposit and Escrow Agent shall deliver the Deposit to Seller, and neither party shall
be obligated to proceed with the purchase and sale of the Property. If Purchaser defaults in any of its other material representations, warranties or obligations under this Agreement, and such default continues for more than ten (10) days after
written notice thereof from Seller, then Purchaser shall forfeit the Deposit, and Escrow Agent shall deliver the Deposit to Seller, and neither party shall be obligated to proceed with the purchase and sale of the Property. The Deposit is liquidated
damages and recourse to the Deposit is, except for Purchaser’s indemnity and confidentiality obligations hereunder, Seller’s sole and exclusive remedy for Purchaser’s failure to perform its obligation to purchase the Property or
breach of a representation or warranty. Seller expressly waives the remedies of specific performance and additional damages for such default by Purchaser. SELLER AND PURCHASER ACKNOWLEDGE THAT SELLER’S DAMAGES WOULD BE DIFFICULT TO DETERMINE,
AND THAT THE DEPOSIT IS A REASONABLE ESTIMATE OF SELLER’S DAMAGES RESULTING FROM A DEFAULT BY PURCHASER IN ITS OBLIGATIONS TO PURCHASE THE PROPERTY. SELLER AND PURCHASER FURTHER AGREE THAT THIS SECTION 9.1 IS INTENDED TO AND DOES
LIQUIDATE THE AMOUNT OF DAMAGES DUE SELLER, AND SHALL BE SELLER’S EXCLUSIVE REMEDY AGAINST PURCHASER, BOTH AT LAW AND IN EQUITY, ARISING FROM OR RELATED TO A BREACH BY PURCHASER OF ITS OBLIGATION TO CONSUMMATE THE TRANSACTIONS CONTEMPLATED BY
THIS AGREEMENT, OTHER THAN WITH RESPECT TO PURCHASER’S INDEMNITY AND CONFIDENTIALITY OBLIGATIONS HEREUNDER. 
 9.2
Seller Default. If Seller, prior to the Closing, defaults in its obligations under this Agreement, including to sell the Property as required by this Agreement and such default continues for more than ten (10) days after written notice
from Purchaser, then, at Purchaser’s election and as Purchaser’s sole and exclusive remedy, either (a) this Agreement shall terminate, and all payments and things of value, including the Deposit, provided by Purchaser hereunder shall
be returned to Purchaser, and Purchaser may seek recovery from Seller of an amount (“Capped Default Damages”) equal to the lesser of (i) Purchaser’s actual out-of-pocket costs and expenses incurred in connection with this
transaction up to the date of such termination (including reasonable attorney’s and Consultants fees and due diligence costs, etc.) or (ii) $75,000.00 or (b) Purchaser may seek specific performance of Seller’s obligation to
deliver the Deed pursuant to this Agreement (but not damages other than its fees, costs and expenses incurred in such proceeding). SELLER AND PURCHASER FURTHER AGREE THAT THIS SECTION 9.2 IS INTENDED TO AND DOES LIMIT THE AMOUNT OF DAMAGES
DUE PURCHASER AND THE REMEDIES AVAILABLE TO PURCHASER, AND SHALL BE PURCHASER’S EXCLUSIVE REMEDY AGAINST SELLER, BOTH AT LAW AND IN EQUITY ARISING FROM OR RELATED TO A BREACH BY SELLER OF ITS REPRESENTATIONS, WARRANTIES, OR COVENANTS OR ITS
OBLIGATION TO CONSUMMATE THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EXCEPT FOR THE FEES, COSTS AND EXPENSES AS DESCRIBED HEREINABOVE, UNDER NO CIRCUMSTANCES MAY PURCHASER SEEK OR BE ENTITLED TO RECOVER ANY SPECIAL, CONSEQUENTIAL, PUNITIVE,
SPECULATIVE OR INDIRECT DAMAGES, ALL OF WHICH PURCHASER SPECIFICALLY WAIVES, FROM SELLER FOR ANY BREACH BY SELLER, OF ITS REPRESENTATIONS, WARRANTIES OR 

  
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COVENANTS OR ITS OBLIGATIONS UNDER THIS AGREEMENT. PURCHASER SPECIFICALLY WAIVES THE RIGHT TO FILE ANY LIS PENDENS OR ANY LIEN AGAINST THE PROPERTY UNLESS AND UNTIL IT HAS ELECTED TO SEEK
SPECIFIC PERFORMANCE OF THIS AGREEMENT AND HAS FILED AN ACTION SEEKING SUCH REMEDY. As a condition precedent to Purchaser exercising any right it may have to bring an action for specific performance hereunder, Purchaser must commence such an action
within ninety (90) days after the occurrence of Seller’s default. Purchaser agrees that its failure to timely commence such an action for specific performance within such 90-day period shall be deemed a waiver by it of Purchaser’s
right to commence an action for specific performance as well as a waiver by Purchaser of any right it may have to file or record a notice of lis pendens or notice of pendency of action or similar notice against any portion of the Property.

 ARTICLE 10 
 RISK OF LOSS 
 10.1 Major Damage. In the event that the Property is
damaged or destroyed by fire or other casualty prior to Closing, and, as reasonably estimated by Seller’s contractor or architect, the cost of repair allocable to the landlord under the Lease is more than $200,000.00 or that would entitle
Tenant to terminate the Lease or abate rent under the Lease in an amount in excess of $200,000.00, or the damage or destruction is caused by a casualty that is not a fully (except for the deductible) covered peril under Tenant’s property
insurance and Seller does not agree, in writing, to provide Purchaser a credit against the Purchase Price in an amount equal to such shortfall in insurance proceeds (“Major Damage”), then Seller shall have no obligation to repair
such damage or destruction and shall notify Purchaser in writing of such damage or destruction (the “Damage Notice”). Within ten (10) days after Purchaser’s receipt of the Damage Notice, Purchaser may elect at its option
to terminate this Agreement by delivering written notice to Seller. In the event Purchaser fails to respond to such Damage Notice within such ten (10) day period, then such failure shall constitute Purchaser’s election to terminate this
Agreement. If Purchaser elects to proceed to Closing, then this transaction shall be closed in accordance with the terms of this Agreement and Seller will assign to Purchaser at Closing Seller’s interest in the proceeds of any insurance
policies covering such damage or destruction to effect repair or restoration of such damage or destruction, including its rights to such proceeds under the Lease, and Seller will pay to Purchaser the amount of any deductible that the landlord is
required to pay pursuant to the Lease (if any). 
 10.2 Minor Damage. In the event that the Property is damaged or
destroyed by fire or other casualty prior to the Closing, and same does not constitute “Major Damage” under Section 10.1 above, then, this transaction shall be closed in accordance with the terms of this Agreement,
notwithstanding the damage or destruction; provided, however, if the repairs can be reasonably effected before the Closing, Seller shall make such repairs to the extent required to be made by Seller as landlord under the Lease
regardless of the extent of any recovery from insurance carried on the Property. Subject to Section 10.3 below, if Seller is unable to effect such repairs prior to Closing, then Seller will assign to Purchaser at Closing Seller’s
interest in the proceeds of any insurance policies covering such damage or destruction, if any, to effect repair or restoration of such damage or destruction and Seller will pay to Purchaser the amount of any deductible that the landlord is required
to pay pursuant to the Lease (if any). 
 10.3 Repairs. To the extent that Seller elects to commence any repair,
replacement or restoration of the Property prior to Closing, then Seller shall be entitled to receive and apply available insurance proceeds to any portion of such repair, replacement or restoration completed or installed prior to Closing, with
Purchaser being responsible for completion of such repair, replacement or restoration after Closing from the balance of any available insurance proceeds. The provisions of this Section 10.3 shall survive the Closing and delivery of the
Deed to Purchaser. 
 ARTICLE 11 
 EMINENT DOMAIN 
 In the event that, at the time of Closing, any part of the
Property is (or previously has been) acquired, or is about to be acquired, by any governmental agency by the powers of eminent domain or transfer in lieu thereof (or in the event that at such time there is any notice of any such acquisition or
intent to acquire by any such governmental agency), Purchaser shall have the right, at Purchaser’s option, to terminate this Agreement by giving written notice within ten (10) days after Purchaser’s receipt from Seller of notice of
the occurrence of such event and if Purchaser so terminates this Agreement, Purchaser shall recover the Deposit hereunder. If Purchaser fails to terminate this Agreement within such 10-day period, this transaction shall be closed in accordance with
the terms of this Agreement for the full Purchase Price and Purchaser shall receive the full benefit of any condemnation award. It is 

  
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expressly agreed between the parties hereto that this section shall in no way apply to customary dedications for public purposes which may be necessary for the development of the Property.

 ARTICLE 12 
 BROKERAGE 
 Seller and Purchaser each represents and warrants to the other
(f) that it has dealt only with Brian Cuje and CB Richard Ellis (collectively, “Seller’s Broker”), as Seller’s exclusive agent, and Conrad Wicker and Mark Perusse of RSS Advisors LLC (“Purchaser’s
Representative”), in connection with this Agreement and (ii) that except for Seller’s Broker and Purchaser’s Representative neither Seller nor Purchaser has dealt with or utilized the services of any other real estate broker,
sales person or finder in connection with this Agreement. Upon the Closing of the transaction contemplated hereby, and not otherwise, a commission (but payable out of the proceeds of the sale received by Seller if the Closing occurs) shall be
payable by Seller to Seller’s Broker pursuant to the terms of Seller’s listing agreement with Seller’s Broker and a fee shall be payable by Purchaser to Purchaser’s Representative pursuant to the terms of a separate agreement
with Purchaser’s Representative. Each party agrees to indemnify, hold harmless, and, if requested in the sole and absolute discretion of the indemnitee, defend (with counsel approved by the indemnitee) the other party from and against all
Losses relating to brokerage commissions and finder’s fees arising from or attributable to the acts or omissions of the indemnifying party. Nothing herein shall make Purchaser liable in any way to pay any commissions to Seller’s Broker.
Nothing herein shall make Seller liable in any way to pay any commissions to Purchaser’s Representative. The provisions of this Article 12 shall survive the termination of this Agreement, and if not so terminated, the Closing and
delivery of the Deed to Purchaser. 
 ARTICLE 13 
 GENERAL PROVISIONS 
 13.1 Governing Law: Venue. This Agreement and
the legal relations between the parties hereto shall be governed by and construed and enforced in accordance with the laws of the state of Colorado, without regard to its principles of conflicts of law. All claims, disputes and other matters in
question arising out of or relating to this Agreement, or the breach thereof, shall be decided by proceedings instituted and litigated in a court of competent jurisdiction in the state of Colorado, and the parties hereto expressly consent to the
venue and jurisdiction of such court. 
 13.2 Exhibits and Schedules. All exhibits and schedules attached hereto are
hereby incorporated by reference as though set out in full herein. 
 13.3 Entire Agreement. This Agreement, including
the exhibits and schedules attached hereto, constitutes the entire agreement between Purchaser and Seller pertaining to the subject matter hereof and supersedes all prior agreements, understandings, letters of intent, negotiations and discussions,
whether oral or written, of the parties, and there are no warranties, representations or other agreements, express or implied, made to any party by any other party in connection with the subject matter hereof except as specifically set forth herein
or in the documents delivered pursuant hereto or in connection herewith. 
 13.4 Binding Effect. Subject to
Section 13.5 below, this Agreement shall be binding upon and inure to the benefit of Seller and Purchaser, and their respective successors, heirs and permitted assigns. 

13.5 Assignability. This Agreement is not assignable by Purchaser without first obtaining the prior written approval of Seller,
which approval may be withheld in Seller’s sole and absolute discretion. Notwithstanding the foregoing, Purchaser may (1) designate a party to take title to the Property at Closing, without Seller’s consent, but upon reasonable notice
thereof (but in no event less than five (5) days prior to the Closing Date), and (2) assign this Agreement, without Seller’s consent, to one or more entities so long as (a) Purchaser is an affiliate of the purchasing entity(ies)
or such entity is controlled by or is under common control with Purchaser or such entity is part of a fund or entity that is sponsored by Purchaser or in which Purchaser acts as an advisor to such entity, (b) Purchaser is not released from its
liability hereunder, and (c) Purchaser provides written notice to Seller of any proposed assignment no later than two (2) Business Days prior to the Closing Date. As used herein, an affiliate is a person or entity controlled by, under
common control with, or controlling another person or entity. Upon any assignment and/or conveyance of the Property or any portion thereof to any assignee of Purchaser, all disclaimers, waivers, releases, indemnities and other protections afforded
Seller by the terms of this Agreement, including, without limitation, those set forth in Sections 2.4 and 6.2, and all covenants, representations, warranties and obligations of Purchaser hereunder, shall apply to and be binding on said
assignee. 

  
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 13.6 Amendments in Writing. This Agreement shall not be amended, altered, changed,
modified, supplemented or rescinded in any manner except by a written contract executed by all of the parties; provided, however, that, as provided in Section 1.3 above, the signature of Escrow Agent shall not be required
as to any amendment of this Agreement other than an amendment of Section 1.3. 
 13.7 Waiver. No delay or
omission to exercise any right or power accruing upon any default, omission or failure of performance hereunder shall impair any right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to
time and as often as may be deemed expedient. No waiver, amendment, release, or modification of this Agreement shall be established by conduct, custom or course of dealing and all waivers must be in writing and signed by the waiving party.

 13.8 Attorneys’ Fees. In the event that any party hereto brings an action or proceeding against any other party
to enforce or interpret any of the covenants, conditions, agreements or provisions of this Agreement, the prevailing party in such action or proceeding shall be entitled to recover all reasonable costs and expenses of such action or proceeding,
including, without limitation, reasonable attorneys’ fees, charges, disbursements and the fees and costs of expert witnesses including at all appellate levels. 
 13.9 Expenses. Subject to the provision for payment of closing costs in accordance with the terms of Section 5.4 hereof and any other provision of this Agreement, whether or not the
transaction contemplated by this Agreement shall be consummated, all fees and expenses incurred by any party hereto in connection with this Agreement shall be borne by such party. 

13.10 Further Assurances. In addition to the actions recited herein and contemplated to be performed, executed, and/or delivered
by Seller and Purchaser, Seller and Purchaser agree to perform, execute and/or deliver or cause to be performed, executed and/or delivered at or after the Closing any and all such further acts, instruments, deeds and assurances as may be reasonably
required to consummate the transactions contemplated hereby. Without limiting the foregoing, Seller agrees to cooperate with Purchaser in connection with the preparation of the Real Property Transfer Declaration. 

13.11 Severability. In the event that any part of this Agreement shall be held to be invalid or unenforceable by a court of
competent jurisdiction, such provision shall be reformed and enforced to the maximum extent permitted by law. If such provision cannot be reformed, it shall be severed from this Agreement and the remaining portions of this Agreement shall be valid
and enforceable. 
 13.12 Construction. This Agreement shall not be construed more strictly against one party hereto than
against any other party hereto merely by virtue of the fact that it may have been prepared by counsel for one of the parties. 

13.13 Captions: Headings. The captions, headings and arrangements used in this Agreement are for convenience only and do not in
any way affect, limit, amplify or modify the terms and provisions hereof. 
 13.14 Number And Gender Of Words. Whenever
herein the singular number is used, the same shall include the plural where appropriate, and words of any gender shall include each other gender where appropriate. 
 13.15 Time Of The Essence. It is expressly agreed by the parties hereto that time is of the essence with respect to all matters contemplated by this Agreement. 

13.16 Business Days; Time Period. As used herein, the term “Business Day” shall mean a day that is not a
Saturday, Sunday or legal holiday in the State of Colorado. In computing any period of time under this Agreement, the date of the act or event from which the designated period of time begins to run shall not be included. The last day of the period
so computed also shall be included provided that if such last day is not a Business Day, then the last date for performance thereof shall be extended to the next Business Day. 
 13.17 No Personal Liability of Officers. Trustees. Directors or Partners. Each of Seller and Purchaser acknowledges that this Agreement is entered into by Seller which is a Colorado limited
liability company and Purchaser which is a Delaware limited liability company, and each agrees that none of Purchaser nor Seller’s Indemnified Parties shall have any personal liability under this Agreement or any document executed in connection
with the transactions contemplated by this Agreement. 
 13.18 Exclusivity. So long as this Agreement has not been
terminated and so long as Purchaser is not in default hereunder, Seller agrees that during the period from and after the Effective Date until 11:59 p.m. on 

  
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December 31, 2010, Seller shall not solicit or respond to offers from others relative to the sale of the Property or enter into or negotiate any contract, letter of intent or term sheet for
the sale of the Property to any prospective purchaser other than Purchaser. 
 13.19 No Recording: Memorandum of
Agreement. 
 (a) Except as expressly set forth in Section 13.19(b) below, Purchaser shall not cause or allow
this Agreement or any contract or other document related hereto, nor any memorandum or other evidence hereof, to be recorded or become a public record without Seller’s prior written consent, which consent may be withheld at Seller’s sole
discretion. If the Purchaser records this Agreement or any other memorandum or evidence thereof, Purchaser shall be in default of its obligations under this Agreement; provided that Purchaser shall not be prohibited from recording a lis pendens if
Purchaser is exercising its right to specific performance under this Agreement. 
 (b) Seller and Purchaser shall execute and
record the Memorandum of Agreement in the form attached hereto as Exhibit “1-1” (the “Memorandum”); provided, however, that, as a condition to Purchaser recording the Memorandum, Purchaser shall sign
and deliver to Escrow Agent, to be held by Escrow Agent in accordance with Section 1.3 above, a Termination of Memorandum of Agreement in substantially the form attached hereto as Exhibit “1-2” (the “Escrowed
Termination”). 
 13.20 Relationship of Parties. Purchaser and Seller acknowledge and agree that the
relationship established between the parties pursuant to this Agreement is only that of a seller and a purchaser of property. Neither Purchaser nor Seller is, nor shall either hold itself out to be, the agent, employee, joint venturer or partner of
the other party. 
 13.21 Confidentiality. Until Closing, Purchaser and Seller and each party’s respective
attorneys, agents, employees and consultants will treat the information disclosed to it by the other party and the existence of this Agreement as confidential, giving it the same care as such party’s own confidential information, and make no
use of any such disclosed information not independently known to such party except in connection with the transactions contemplated hereby; provided, however, that Purchaser may disclose the terms and conditions of this Agreement
(a) as required by law, (b) to consummate the terms of this Agreement or any financing relating thereto, (c) to Purchaser’s or Seller’s lenders, attorneys and accountants or (d) in connection with any action or
proceeding between Purchaser and Seller. In the event of such a termination, Purchaser, at Purchaser’s option, shall promptly return copies of all such confidential information to Seller or confirm to Seller that Purchaser has destroyed such
copies. 
 13.22 Counterparts; Facsimile/.pdf Signatures. This Agreement may be executed in a number of identical
counterparts. This Agreement may be executed by facsimile and/or .pdf signatures which shall be binding on the parties hereto, with original signatures to be delivered as soon as reasonably practical thereafter. 

13.23 1031 Exchange. Seller and Purchaser acknowledge and agree that the purchase and sale of the Property may be part of a
tax-free exchange under Section 1031 of the Code for either Purchaser or Seller. Each party hereby agrees to take all reasonable steps on or before the Closing Date to facilitate such exchange if requested by the other party, provided that
(a) no party making such accommodation shall be required to acquire any substitute property, (b) such exchange shall not affect the representations, warranties, liabilities and obligations of the parties to each other under this Agreement,
(c) no party making such accommodation shall incur any additional cost, expense or liability in connection with such exchange and (d) no dates in this Agreement will be extended as a result thereof. Notwithstanding anything to the contrary
contained in the foregoing, if Seller so elects to close the transfer of the Property as an exchange, then (i) Seller, at its sole option, may delegate its obligations to transfer the Property under this Agreement, and may assign its rights to
receive the Purchase Price from Purchaser, to a deferred exchange intermediary (an “Intermediary”) or to an exchange accommodation titleholder, as the case may be, (ii) such delegation and assignment shall in no way reduce,
modify or otherwise affect the obligations under this Agreement, (iii) Seller shall remain fully liable for its obligations under this Agreement as if such delegation and assignment shall not have taken place, (iv) Intermediary or exchange
accommodation titleholder, as the case may be, shall have no liability to Purchaser and (v) the closing of the acquisition of the Property by Purchaser or the exchange accommodation titleholder, as the case may be, shall be undertaken by direct
deed from Seller (or, if applicable, from other affiliates of Seller whom Seller will cause to execute such deeds) to Purchaser (or to exchange accommodation titleholder, as the case may be). Notwithstanding anything to the contrary contained in the
foregoing, if Purchaser so elects to close the acquisition of the Property as an exchange, then (A) Purchaser, at its 

  
 22 

 
sole option, may delegate its obligations to acquire the Property under this Agreement, and may assign its rights to receive the Property from Seller, to an Intermediary or to an exchange
accommodation titleholder, as the case may be, (B) such delegation and assignment shall in no way reduce, modify or otherwise affect the obligations of Purchaser pursuant to this Agreement, (C) Purchaser shall remain fully liable for its
obligations under this Agreement as if such delegation and assignment shall not have taken place, (D) Intermediary or exchange accommodation titleholder, as the case may be, shall have no liability to Seller and (E) the closing of the
acquisition of the Property by Purchaser or the exchange accommodation titleholder, as the case may be, shall be undertaken by direct deed from Seller (or, if applicable, from other affiliates of Seller whom Seller will cause to execute such deeds)
to Purchaser (or to exchange accommodation titleholder, as the case may be). 
 13.24 Survival. Except for (a) all
of the provisions of this Article 13 (other than Sections 13.21 and 13.23), (b) any provision of this Agreement which expressly states that it shall so survive and (c) any payment obligation of Purchaser under this
Agreement (the foregoing (a), (b) and (c) referred to herein collectively as the “Survival Provisions”), none of the terms and provisions of this Agreement shall survive the termination of this Agreement, and, if the
Agreement is not so terminated, all of the terms and provisions of this Agreement (other than the Survival Provisions) shall be merged into the Closing documents and shall not survive the Closing. 

13.25 Notices. All notices, consents, reports, demands, requests and other communications required or permitted hereunder
(“Notices”) shall be in writing, and shall be: (a) personally delivered with a written receipt of delivery; (b) sent by a nationally recognized overnight delivery service requiring a written acknowledgement of receipt or
providing a certification of delivery or attempted delivery; (c) sent by certified or registered mail, return receipt requested; or (d) sent by confirmed facsimile transmission, PDF or e-mail with an original copy thereof transmitted to
the recipient by one of the means described in subsections (a) through (c) no later than three (3) Business Days thereafter. All Notices shall be deemed effective when actually delivered as documented in a delivery receipt;
provided, however, that if the Notice was sent by overnight courier or mail as aforesaid and is affirmatively refused or cannot be delivered during customary business hours by reason of the absence of a signatory to acknowledge
receipt, or by reason of a change of address with respect to which the addressor did not have either knowledge or written notice delivered in accordance with this section, then the first attempted delivery shall be deemed to constitute delivery; and
provided, further, however, that Notices given by facsimile, PDF or e-mail shall be deemed given when received by facsimile, PDF or email, as the case may be. Each party shall be entitled to change its address for Notices from time to
time by delivering to the other party Notice thereof in the manner herein provided for the delivery of Notices. All Notices shall be sent to the addressee at its address set forth following its name below: 

 

			
	 If to Seller:
  

One Directory Place LLC
 c/o DPC Development Company
 7000 East Belleview Avenue, Suite 300

Englewood, CO 80111

Attn: Christopher R. King
 And
 Nate Schnabel

Phone: 303.796.8288

Fax: 303.796.8388

E-Mail: cking@doccompanies.com
 nschnabel@doccompanies.com
	  	 with copies to:
  

Brownstein Hyatt Farber Schreck, LLP
 410 17th
Street, Suite 2200
 Denver, CO 80202-4432
 Attn: Aaron M. Hyatt, Esq.
 Phone: 303.223.1107

Fax: 303.223.1111

E-Mail: ahvattebhfs.com

 

  
 23 

  

			
	 If to Purchaser:
  

The GC Net Lease (Loveland) Investors, LLC
 c/o Griffin Capital Corporation
 The Plaza

2121 Rosecrans Avenue
 Suite 3321
 El Segundo, CA 90245

Attn: Michael Escalante, Chief Investment Officer
 Phone: 310.606.5900
 Fax: 310.606.5910

mescalante@griffincapital.com
 And
 790 Estate Drive, Suite 180

Deerfield, IL 60015

Mary Higgins, General Counsel
 Phone: 847.267.1180
 Fax: 847.267.1237

mhiggins@griffincapital.com
	  	 with copies to:
  

Isaacson Rosenbaum P.C.
 1001 17th
St., Suite 1800
 Denver, CO 80202
 Attn: Lawrence J. Donovan Jr.
 And Matthew D. Pluss

Phone: 303.292.5656

Fax: 303.292.3152

e-mail: Idonovan@ir-law.com And
 mpluss@ir-law.com
  

 

 Any notice required hereunder to be delivered to Escrow Agent or
Title Insurer shall be delivered in accordance with the above provisions as follows: 
  

			
	 If to Escrow Agent:
  

Fidelity National Title Insurance Company
 4643 S. Ulster Street, Suite 500
 Denver, CO 80237

Attn: Valena Bloomquist
 Phone: 303.244.9198
 Fax: 720.489.7593

E-Mail: valena.bloomquist@fnf.com
	  	 If to Title Insurer:
  

Fidelity National Title Insurance Company
 4643 S. Ulster Street, Suite 500
 Denver, CO 80237

Attn: Noreen Behringer
 Phone: 303.889.8094
 Fax: 303.220.1031

E-Mail: hbehringer@fnf.com

 Unless specifically required to be delivered to Escrow Agent pursuant to the terms of this Agreement, no notice hereunder must be delivered to Escrow Agent in order to be effective so long as it is
delivered to the other party in accordance with the above provisions. 
 13.26 Non-Solicitation of Employees. Purchaser
acknowledges and agrees that, without the express written consent of Seller, neither Purchaser nor any of Purchaser’s employees, affiliates or agents shall solicit any of Seller’s employees or any employees located at the Property (or any
of Seller’s affiliates’ employees located at any property owned by such affiliates) for potential employment. 
 13.27
No Option; Binding Effect. The submission of this document for examination and review does not constitute an option to purchase the Property, an offer to sell the Property or an agreement to purchase and sell. This document shall have no
binding effect on the parties unless and until executed by both Seller and Purchaser and will be effective only upon Seller’s execution of the same. As provided in Section 1.3 above, Escrow Agent’s execution of this Agreement
shall not be a prerequisite to the effectiveness of this Agreement. 
 [signature pages follow] 

  
 24 

 IN WITNESS WHEREOF, the parties hereto have duly executed and sealed this Agreement as of
the Effective Date. 
 SELLER: 
 ONE
DIRECTORY PLACE LLC, 
 a Colorado limited liability company 
  

			
	By:	 	 /s/ Christopher R. King

	Name:	 	Christopher R. King
	Title:	 	Manager

 PURCHASER: 

THE GC NET LEASE (LOVELAND) INVESTORS, LLC, 
 a
Delaware limited liability company 
  

									
		 	By:	  	Griffin Capital Corporation, a California corporation, its Sole Member	  	
					
		 		  	By:	  	 /s/ Michael J. Escalante
	  	
		 		  	Name:	  	Michael J. Escalante	  	
		 		  	Title:	  	Chief Investment Officer	  	

  
 25Lease between One Directory Place LLC and Directory Printing Company

 Exhibit 10.2 
 LEASE 
 This Lease is made this 21st day of July, 1995, between One Directory Place LLC, a Colorado
limited liability company (“Landlord”), whose address is c/o DPC Development Company, 7000 E. Belleview Avenue, Suite 290, Greenwood Village, Colorado 80111, and Directory Printing Company, a Delaware corporation (“Tenant”),
whose address is 380 West 37th Street, Loveland,
Colorado 80538. 
  

	I.	GENERAL 

 1.1
Consideration. Landlord enters into this Lease in consideration of the payment by Tenant of the rents herein reserved and the keeping, observance and performance by Tenant of the covenants and agreements of Tenant herein contained.

 1.2 Exhibits and Addenda to Lease. The Exhibits and Addenda listed below shall be attached to this Lease and be deemed
incorporated in this Lease by this reference. In the event of any inconsistency between such Exhibits and Addenda and the terms and provisions of this Lease, the terms and provisions of the Exhibits and Addenda shall control. The exhibits and
Addenda to this Lease are: 
  

			
	 Exhibit A –
	  	Summary of Basic Lease Terms
	 Exhibit B –
	  	Site Plan
	 Exhibit C –
	  	Description of Tenant’ s Personal Property and Equipment
	 Addendum No. 1 –
	  	Environmental Rider
	 Addendum No. 2 –
	  	Additional Provisions

  

	II.	DEMISE OF PREMISES. 

 2.1 Demise. Subject to the provisions, covenants and agreements herein contained, Landlord hereby leases and demises to Tenant, and Tenant hereby leases from Landlord, the Demised Premises •as hereinafter defined, for the Lease Term as hereinafter
defined, subject to existing covenants, conditions, restrictions, easements and encumbrances affecting the same. 
 2.2
Demised Premises. The “Demised Premises” shall mean the Property. 
 2.3 Address. The address of the
Demised Premises is the address set forth in Exhibit A. 
 2.4 Land. “Land” shall mean the parcel of real
property more particularly described in Exhibit A attached hereto, containing the approximate number of acres of land area set forth on Exhibit A attached hereto. 
 2.5 Building. “Building” shall mean the Building constructed or to be constructed on the Land of the type set forth in Exhibit A attached hereto, containing approximately the number of
square feet of interior space set forth on Exhibit A attached hereto. 
 2.6 Improvements. “Improvements” shall
mean the Building as hereinafter defined, the Parking Area as hereinafter defined, and all other fixtures and improvements on the Land, including landscaping thereon. 
 2.7 Property. “Property” shall mean the Land, the Building and the Improvements and any fixtures and personal property used in operation and maintenance of the Land, Building and
Improvements other than Tenant’s fixtures, equipment, and personal property listed on Exhibit C. 

2.8 Parking Area. “Parking Area”, shall mean that portion of the Land which is or is to be paved and otherwise improved for the parking of motor vehicles.

 2.9 Covenant of Quiet Enjoyment. Landlord covenants and agrees that, provided Tenant is not in default and keeps,
observes and performs the covenants and agreements of Tenant contained in this Lease, Tenant shall have quiet and peaceable possession of the Demised Premises and such possession shall not be disturbed or interfered with by Landlord or by any person
claiming by, through or under Landlord. 
 2.10 Condition of Demised Premises. Tenant covenants and agrees that, upon
taking possession of the Demised Premises, and except as expressly set forth in Addendum No. 1, Tenant shall be deemed to have accepted the Demised Premises “as is” as such term is defined in Section 14.24 in Addendum No. 2.
To the extent that the Demised Premises are not in all material aspects in good repair and working order and in material compliance with 

 
all applicable laws, regulations and codes, Tenant agrees to take all necessary actions, consistent with the provisions of this Lease, to bring the Demised Premises into compliance with the
provisions hereof, at Tenant’s sole cost and expense. 
  

	III.	TERM OF LEASE 

 3.1
Lease Term. “Lease Term” shall mean the period commencing at noon on the commencement date specified in Exhibit A attached hereto and expiring at noon on the expiration date specified in Exhibit A attached hereto. 

3.2 Right of Early Termination. Tenant shall have a one time right to cancel this Lease as of the beginning of the eleventh Lease
year (the “Termination Date”), by giving landlord no less than one year’s advance written notice of Tenant’s election to terminate. To be effective, Tenant’s notice to terminate must be accompanied by a simultaneous payment
to Landlord in good funds of an amount equal to the total of all Rent due (including a good faith estimate of Additional Rent) or to be due Landlord hereunder for Lease years eleven and twelve. The term “Lease Year” as used herein shall
refer to each twelve (12) month period beginning August 1 of each calendar year and ending on July 31 of the following calendar year. Regardless of the tendering of such notice to terminate, Tenant shall remain liable for the full,
timely performance of all of its obligations hereunder through and including the Termination Date. Tenant’s estimated payment of Additional Rent for years eleven (11) and twelve (12) shall be based upon the average actual Additional
Rent for years eight (8) and nine (9) plus four percent (4%) per annum thereafter with the only adjustment from years eight (8) and nine (9) being a reduction in utility costs. Utility costs shall be reduced and paid in an
estimated amount necessary to adequately light the Premises and maintain the operation of all heating, ventilation, air conditioning, electrical and mechanical systems in good working order during Lease years eleven and twelve. Tenant’s payment
of Additional Rent for years eleven (11) and twelve (12) shall be a final settlement (without reconciliation for actual Additional Rent in such years) except for utility costs, as described above, and items of maintenance, repair or
replacement described below. Tenant’s payment of Additional Rent shall be accompanied by documentation in reasonable detail supporting such payment and shall include appropriate amounts for the performance of any maintenance, repairs and
replacements which may be necessary for Tenant to leave the Demised Premises in the condition required by this Lease on the Termination Date. Tenant acknowledges and agrees that if Tenant exercises its right of early termination, Landlord shall have
no duty or obligation to relet the Premises at any time thereafter; provided, however, that if Landlord elects to relet the Premises to a third party (on such terms and conditions as Landlord may determine, in its discretion) and during the period
which would have been Lease years eleven through fifteen, inclusive, Landlord receives Basic Rent from such party (net of Landlord’s reasonable costs and expenses to lease the Demised Premises, including, without limitation, leasing
commissions, leasehold improvements and attorney fees) in an amount which, when added with the Basic Rent paid by Tenant for Lease years eleven and twelve in connection with the exercise of its termination right, exceeds (the “Excess
Rent”) the Basic Rent which otherwise would have been payable hereunder for Lease years eleven and twelve. The Excess Rent amount shall be due and payable within ninety (90) days following July 31, 2010, and shall be based solely on
actual Basic Rent received by Landlord during Lease years eleven through fifteen. 
  

	IV.	RENT AND OTHER AMOUNTS PAYABLE. 

 4.1 Basic Rent. Tenant covenants and agrees to pay to Landlord, without offset, deduction or abatement, except as expressly set forth herein, basic rent for the full Lease Term in the amount
specified as basic rent in Exhibit A attached hereto (“Basic Rent”). All monetary requirements referred to in this Lease shall be in United States dollars. 
 4.2 Monthly Rent. Basic Rent shall be payable monthly in advance, without notice, in equal installments in the amount of monthly rent specified in Exhibit A (“Monthly Rent”) commencing on
the first day of August, 1995, and continuing on the first day of each month thereafter for the balance of the Lease Term. Basic Rent for the period from the Commencement Date through and including July 31, 1995 has been paid by Tenant to
Landlord in connection with the execution of this Lease. 
 4.3 Place of Payments. Basic Rent and all other sums
payable by Tenant to Landlord under this Lease shall be paid to Landlord at the place for payments specified in Exhibit A, or such other place as Landlord may, from time to time, designate in writing. 

  
 2 

 4.4 Lease a Net Lease and Rent Absolute. It is the intent of the parties that the
Basic Rent provided in this Lease shall be a net payment to Landlord; that the Lease shall continue for the full Lease Term notwithstanding any occurrence preventing or restricting use and occupancy of the Demised Premises, including any
damage or destruction affecting the Demised Premises, and any action by governmental authority relating to or affecting the Demised Premises, except as otherwise specifically provided in this Lease; that the Basic Rent shall be absolutely net and
payable without offset, reduction or abatement for any cause, except as expressly provided herein; that Landlord shall not bear any costs or expenses relating to the Demised Premises or provide any services or do any act in connection with the
Demised Premises except as otherwise specifically provided in this Lease; and that Tenant shall pay, in addition to Basic Rent, Additional Rent to cover costs and expenses relating to the Demised Premises, all as hereinafter provided. 

4.5 Additional Rent. Tenant covenants and agrees to pay, as Additional Rent, all costs and expenses relating to the Demised
Premises, all as hereinafter provided and to pay all other amounts payable by Tenant under the terms of this Lease (“Additional Rent”). Costs and expenses payable by Tenant as Additional Rent shall include (a) taxes and assessments;
(b) insurance costs; (c) utility charges; (d) operating expenses; (e) maintenance, repair and replacement expenses, and (f) all other costs and expenses relating to the Demised Premises during or attributable to the Lease
Term, all as hereinafter provided in this Lease. 
 4.6 Monthly Deposits for Taxes and Insurance. [Intentionally Deleted]

 4.7 Security Deposit. [Intentionally Deleted] 

4.8 General Provisions as to Monthly Deposits and Security Deposit. [Intentionally Deleted] 

 

	V.	TAXES AND ASSESSMENTS 

  

	 	5.1	Covenant to Pay Taxes and Assessments. 

 (a) Tenant covenants and agrees to pay, as Additional Rent, all Taxes and Assessments, as hereinafter defined, which accrue during or are attributable to the Lease Term. “Taxes and Assessments”
shall mean all taxes, assessments or other impositions, general or special, ordinary or extraordinary, of every kind or nature, which may be levied, assessed or imposed upon or with respect to the Property or any part thereof, or upon any building,
improvements or personal property at any time situated thereon. 
 (b) Tenant shall pay all Taxes and Assessments directly to
the applicable taxing authority and shall provide Landlord with written evidence thereof, satisfactory to Landlord, no later than thirty (30) days prior to the date when any installment of Taxes or Assessments is due. If Tenant fails to provide
Landlord with timely evidence of the payment of Taxes and Assessments, Landlord shall have the right, but not the obligation, to pay such amounts without notice to Tenant, and all amounts paid by Landlord shall earn interest until repaid at the
interest rate specified in section 12.8 below. 
 5.2 Proration at Commencement and Expiration of
Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the date of commencement of the Lease Term and the
date of expiration of the Lease Term, except as hereinafter provided. Additionally, for the year in which the Lease Term expires, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to any improvements,
fixtures, equipment or personal property which Tenant is required to remove or in fact removes as of the expiration of the Lease Term, as described on Exhibit C attached hereto, and Taxes and Assessments related to any other improvements, fixtures,
equipment or personal property which Tenant does not have
.the right or obligation to remove, shall be prorated between
Landlord and Tenant. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and Assessments. 
 5.3
Special Assessments. In the event any Taxes or Assessments are payable in installments over a period of years, Tenant shall be responsible only for installments for periods during the Lease Term with proration, as above provided, of any
installment payable prior to or after expiration of the Lease Term. 
 5.4 New or Additional Taxes. Tenant’s
obligation to pay Tenant’s Pro Rata Share of Taxes and Assessments shall include any Taxes and Assessments of a nature not presently in effect but which may hereafter be levied, assessed or imposed upon Landlord or upon the Property if such tax
shall be based upon or arise out of the 

  
 3 

 
ownership, use or operation of or the rents received from the Property, other than income taxes of Landlord. For the purposes of computing Tenant’s liability for such new type of tax or
assessment, the Property shall be deemed the only Property of Landlord. 
 5.5 Right to Contest Taxes. Tenant shall have
the right to contest Taxes and Assessments, as hereinafter provided. Any contest of Taxes and Assessments by Tenant shall require Landlord’s prior written consent, not unreasonably withheld, as to all material issues or decisions concerning the
contest, including, without limitation, any settlement thereof and Tenant shall indemnify and hold Landlord harmless from any and all costs or expenses, including reasonable attorneys’ fees incurred by or asserted against Landlord in connection
with such contest. During the last two (2) years of the term of the Lease, Landlord shall have the sole right to contest Taxes and Assessments, unless Tenant exercises its right to renew the term of the Lease. 

 

	VI.	INSURANCE 

 6.1
Casualty Insurance. Tenant covenants and agrees to obtain and keep in full force and effect during the Lease Term, Casualty Insurance as hereinafter defined. “Casualty Insurance” shall mean fire and extended coverage insurance with
respect to the Demised Premises (as the same may be expanded hereunder), in an amount equal to the full replacement cost thereof as adjusted for inflation (exclusive of land value and foundation costs), and with coverage for all risks, vandalism and
malicious mischief, sprinkler leakage, boilers, and rental loss and Tenant shall at all times be solely responsible for the payment of any deductible thereunder. Casualty Insurance obtained by Tenant shall name Landlord, Tenant and any mortgagee or
holder of a deed of trust as an insured party as its interest may appear. Tenant covenants and agrees to pay the cost of Casualty Insurance as Additional Rent. Tenant shall be responsible for obtaining, at Tenant’s option, cost and expense,
insurance coverage for property of Tenant and for business interruption of Tenant. 
 6.2 Liability Insurance. Tenant
covenants and agrees to obtain and keep in full force and effect during the Lease Term, and to pay the premiums and costs of, Liability Insurance as hereinafter defined. “Liability Insurance” shall mean comprehensive general liability
insurance covering public liability with respect to the ownership, use and operation of the Demised Premises, with limits of not less than $10,000,000 combined single limit of liability, with endorsements for assumed contractual liability
with respect to the liabilities assumed by Tenant under Section 8.24 of this Lease, retention or self-insurance provision contained therein, unless otherwise approved in writing by Landlord. After the first five (5) Lease years, Landlord
may from time to time, upon notice to Tenant, determine to increase the limits herein provided for to reflect general inflation or changes of business circumstances, but only to the extent that such increases are reasonably consistent with insurance
requirements imposed by landlords of similar commercial facilities. 
 6.3 General Provisions Respecting Insurance.
Except as otherwise approved in writing by Landlord, all insurance obtained by Tenant shall be on forms and with a financially sound and reputable insurance company rated A+8 or better by A.M. Best (or a comparable rating by another insurance rating
service reasonably selected by Landlord if A.M. Best ceases to publish insurance ratings); shall name Landlord and the holder of any mortgage or deed of trust encumbering the Property as insured parties, as their interests may appear; and shall
contain a waiver of rights of subrogation as among Tenant, Landlord and the holder of any such mortgage or deed of trust; shall provide coverage on an occurrence basis; and shall provide, by certificate of insurance or otherwise, that the insurance
coverage shall not be canceled or altered (except for alterations in coverage under umbrella policies which do not involve or affect the Demised Premises) except upon 30 days’ prior written notice to Landlord and the holder of any such first
mortgage or deed of trust. Certificates of insurance obtained by Tenant shall be delivered to Landlord who may deposit the same with the holder of any such first mortgage or deed of trust. In the event that, during the term of this Lease, any one or
more of the insurance coverages or requirements of this Article VI are no longer commercially available, Landlord and Tenant shall agree upon comparable alternatives, taking into account what is then being obtained or required by landlords of other
comparable commercial facilities. 
 6.4 Cooperation in the Event of Loss. Landlord and Tenant shall cooperate with each
other in the collection of any insurance proceeds which may be payable in the event of any loss, including the execution and delivery of any proof of loss or other actions required to effect recovery. 

  
 4 

	VII.	UTILITY, OPERATING, MAINTENANCE AND REPAIR EXPENSES. 

 7.1 Utility Charges. Tenant covenants and agrees to pay all charges for water, sewage disposal, gas, electricity, light, heat, power, telephone or other utility services used, rendered or supplied
to or for the Demised Premises and to contract for the same in Tenant’s own name. 
 7.2 Exterior Facilities
Maintenance. Tenant covenants and agrees to pay, as Additional Rent, all costs and expenses of operating, repairing, maintaining and upkeep of the exterior facilities including, without limitation, upkeep and replanting of grass, trees, shrubs
and landscaping; removal of dirt, debris, obstructions and litter from Parking Areas, landscaped areas, sidewalks and driveways; repairs, resurfacing, resealing, restripping, sweeping the Parking Areas, sidewalks, and driveways; sprinkler systems;
repair and/or replacement of the roof; wail and structural repairs; building signs; stairways; exterior facilities utilities; fire protection systems and sprinkler systems; exterior painting; storm drainage systems; supplies, personnel, rental of
equipment in implementing such services; all alterations, additions, improvements and other changes made to the Improvements in order to conform to changes required by any laws, ordinances, rules, regulations or orders of any applicable governmental
authority; and personal property taxes, licenses and permits. 
 7.3 Tenant’s Maintenance Obligation. Tenant
covenants and agrees, except as expressly provided in Addendum No. 1, at its sole cost and expense to maintain, repair, replace and keep the Demised Premises and all improvements, fixtures and personal property thereon in good, safe and
sanitary condition, order and repair and in material compliance with all applicable laws, ordinances, orders, rules and regulations of governmental authorities having jurisdiction over the Demised Premises; to perform or contract for and to promptly
pay for trash and garbage disposal, janitorial and cleaning services, security services, if any, removal of snow and ice from the Parking Area, sidewalks and driveways serving the Demised Premises, interior painting, window washing, replacement of
damaged or broken glass and other breakable materials, replacement of interior and exterior light bulbs and light fixtures in or serving the Demised Premises; to operate, maintain, repair and replace the heating, ventilating and air conditioning
system for the Demised Premises, including regularly scheduled preventive maintenance contracts with all the services recommended by the equipment manufacturer of which a copy must be provided to the Landlord within thirty (30) days of the date
Tenant takes possession, and the pipes for water and sewage service in or serving the Demised Premises. The cost of all maintenance and repairs required to be performed by or on behalf of Tenant shall be considered as Additional Rent hereunder. All
maintenance and repairs by Tenant shall be done promptly, in a good and workmanlike fashion, and without diminishing the original quality of the Demised Premises or the Property. 

 

	VIII.	OTHER COVENANTS OF TENANT 

 8.1 Limitation on Use by Tenant. Tenant covenants and agrees to use the Demised Premises only for the use or uses set forth as Permitted Uses by Tenant on Exhibit A attached hereto and for no other
purposes, except with the prior written consent of Landlord. 
 8.2 Compliance with Laws. Tenant covenants and agrees
that nothing shall be done or kept on the Demised Premises in material violation of any law, ordinance, order, rule or regulation of any governmental authority having jurisdiction and that the Demised Premises shall be used, kept and maintained in
material compliance with any such law, ordinance, order, rule or regulation and with the certificate of occupancy issued for the Building and the Demised Premises. Tenant agrees to pay any present or future costs of complying with these provisions
including the costs of bringing the Property into such compliance. Further, Tenant acknowledges that notwithstanding the foregoing, Tenant shall have the obligation to promptly comply with any governmental notice of an alleged violation of any law,
ordinance, order, rule or regulation, regardless of the materiality thereof. 
 8.3 Compliance with Insurance
Requirements. Tenant covenants and agrees that nothing shall be done or kept on the Demised Premises which might result in cancellation of any such insurance required to be maintained by Tenant hereunder. 

8.4 No Waste or Impairment of Value. Tenant covenants and agrees that nothing shall be done or kept on the Demised Premises or the
Property which might impair the value of the Demised Premises upon the termination of this Lease, or which would constitute waste. 
 8.5 No Hazardous Use. Tenant covenants and agrees that nothing shall be done or kept on the Demised Premises or the Property and that no improvements, changes, alterations, additions, maintenance
or repairs 

  
 5 

 
shall be made to the Demised Premises which might be inherently unsafe or inherently hazardous to any person or property. 
 8.6 No Structural or Electrical Overloading. Tenant covenants and agrees that nothing shall be done or kept on the Demised Premises or the Building and that no improvements, changes, alterations,
additions, maintenance or repairs shall be made to the Demised Premises which might impair the structural soundness of the Building, which might result in an overload of electrical lines serving the Building or which might interfere with electric or
electronic equipment in the Building or on any adjacent or nearby property. In the event of violations hereof, Tenant covenants and agrees to immediately remedy the violation at Tenant’s expense and in material compliance with all requirements
of governmental authorities and insurance underwriters. 
 8.7 No Nuisance, Noxious or Offensive Activity. Tenant
covenants and agrees that no noxious or offensive activity shall be carried on upon the Demised Premises or the Property nor shall anything be done or kept on the Demised Premises or the Property which may be or become a public or private nuisance
or which may cause embarrassment, disturbance, or annoyance to others in the Building or on adjacent or nearby property. The provisions of this Section shall not impair or prevent Tenant from conducting its printing operations upon the Property in
the ordinary course of business. 
 8.8 No Annoying Lights, Sounds or Odors. Tenant covenants and agrees that no light
shall be emitted from the Demised Premises which is unreasonably bright or causes unreasonable glare; no sound shall be emitted from the Demised Premises which is unreasonably loud or annoying; and no odor shall be emitted from the Demised Premises
which is or might be noxious or offensive to others in the Building or on adjacent or nearby property. The provisions of this Section shall not impair or prevent ‘Tenant from conducting its printing operations upon the Property in the ordinary
course of business. 
 8.9 No Unsightliness. [Intentionally Deleted] 

8.10 No Animals. [Intentionally Deleted]. 
 8.11 Restriction on Signs and Exterior Lighting. Tenant covenants and agrees that no signs or advertising devices of any nature shall be erected or maintained by Tenant on the Demised Premises
except as approved by applicable governmental authorities. 
 8.12 No Violation of Covenants. Tenant covenants and agrees
not to commit, suffer or permit any violation of any covenant, condition or restriction affecting the Demised Premises. 
 8.13
Restriction on Changes and Alterations. Except as provided in Section 8.13A, Tenant covenants and agrees not to improve, change, alter, add to, remove or demolish any improvements on the Demised Premises (“Changes”), without
the prior written consent of Landlord which consent shall not be unreasonably withheld, and unless Tenant complies with all conditions which may be imposed by Landlord, in its reasonable discretion, in connection with such consent; and unless Tenant
pays to Landlord the reasonable costs and expenses of Landlord for independent architectural, engineering or other consultants which may be reasonably incurred by Landlord in determining whether to approve any such Changes. If such consent is given,
no such Changes shall be permitted unless Tenant shall have procured and paid for all necessary permits and authorizations from any governmental authorities having jurisdiction; unless such Changes will not reduce the value of the Property, and will
not affect or impair existing insurance on the Property; and unless Tenant, at Tenant’s sole cost and expense, shall maintain or cause to be maintained workmen’s compensation insurance covering all persons employed in connection with the
work and obtains liability insurance covering any loss or damage to persons or property arising in connection with any such Changes and such other insurance or bonds as Landlord may reasonably require. Tenant covenants and agrees that any such
Changes approved by Landlord shall be completed with due diligence and in a good and workmanlike fashion and in compliance with all conditions imposed by Landlord and all applicable permits, authorizations, laws, ordinances, orders, rules and
regulations of governmental authorities having jurisdiction and that the costs and expenses with respect to such Changes shall be paid promptly when due and that the Changes shall be accomplished free of liens of mechanics and materialmen. Tenant
covenants and agrees that all such Changes shall become the property of the Landlord at the expiration of the Lease Term. 

8.14 No Mechanic’s Liens. Landlord and Tenant covenant and agree not to permit or suffer, and to cause to be removed and
released, any mechanic’s, materialmen’s or other lien on account of supplies, machinery, tools, equipment, labor or material furnished or used in connection with the construction, alteration, improvement,

  
 6 

 
addition to or repair of the Demised Premises. Tenant shall have the right to contest, in good faith and with reasonable diligence, the validity of any such lien or claimed lien, provided that,
if such contest involves a dispute concerning an amount in excess of $50,000, Tenant shall give to Landlord such security as may be reasonably requested by Landlord to insure the payment of any amounts claimed, including interest and costs, and to
prevent any sale, foreclosure or forfeiture of any interest in the Property on account of any such lien, and provided that, on final determination of the lien or claim for lien, Tenant shall immediately pay any judgment rendered, with interest and
costs, and will cause the lien to be released and any judgment satisfied. 
 8.15 No Other Encumbrances. Tenant covenants
and agrees not to encumber the Demised Premises or Landlord or Tenant’s interest therein, without the prior written consent of Landlord, and to keep the Demised Premises free from all liens and encumbrances except liens and encumbrances
existing upon the date of commencement of the Lease Term or liens and encumbrances created by Landlord. 
 8.16 Subordination
to Landlord Mortgages. Tenant covenants and agrees that, at Landlord’s option, this Lease and Tenant’s interest in the Demised Premises shall be junior and subordinate to any mortgage or deed of trust now or hereafter encumbering the
Property provided that, as to any mortgage or deed of trust given hereafter, the mortgagee or beneficiary under such mortgage or deed of trust agrees in writing, or adequate provision is made in the mortgage or deed of trust, that, in the event of
foreclosure of any such mortgage or deed of trust, Tenant shall not be disturbed in its possession of the Demised Premises provided only that Tenant shall attorn to the party acquiring title to the Property as the result of such foreclosure, and all
terms and conditions of this Lease shall remain in full force and effect. No act or further agreement by Tenant shall be necessary to establish the subordination of this Lease to any such mortgage or deed of trust but Tenant covenants and agrees,
upon no more than ten (10) days prior written request of Landlord, to execute such documents as may be necessary or appropriate to confirm and establish this Lease as subordinate to any such mortgage or deed of trust in accordance with the
foregoing provisions. Alternatively, Tenant covenants and agrees that, at Landlord’s option, Tenant shall execute within ten (10) days of request by Landlord documents as may be necessary to establish this Lease and Tenant’s interest
in the Demised Premises as superior to any such mortgage or deed of trust. 
 8.17 No Assignment or Subletting. Tenant
covenants and agrees not to make or permit a Transfer by Tenant, as hereinafter defined, without Landlord’s prior written consent not unreasonably withheld. A Transfer by Tenant shall include, except as provided below, an assignment of this
Lease or any assignment, sublease, transfer, mortgage, pledge or encumbrance of all or any part of Tenant’s interest under this Lease or in the Demised Premises, by operation of law or otherwise, or the use or occupancy of all or any part of
the Demised Premises by anyone other than Tenant, except that a Transfer shall not include a sublease of 25% or less (individually, or in an aggregate) of the Demised Premises and shall not require Landlord’s prior written consent so long as
Tenant promptly provides Landlord with a copy of any such sublease. Any such Transfer by Tenant without Landlord’s written consent shall be void and shall constitute a default under this Lease. In the event Landlord consents to any Transfer by
Tenant, Tenant shall not be relieved of its obligations under this Lease and Tenant shall remain liable, jointly and severally and as a principal, and not as a guarantor or surety, under this Lease, to the same extent as though no Transfer by Tenant
had been made, unless specifically provided to the contrary in Landlord’s prior written consent. The acceptance of rent by Landlord from any person other than Tenant shall not be deemed to be a waiver by Landlord of the provisions of this
Section or of any other provision of this Lease and any consent by Landlord to Transfer by Tenant shall not be deemed a consent to any subsequent Transfer by Tenant. 
 In the event Landlord consents to a Transfer by Tenant, any option to renew this lease or right to extend the Lease Term shall automatically terminate unless otherwise agreed in writing by Landlord.

 Tenant covenants and agrees to pay to Landlord, within ten (10) days after demand by Landlord, the reasonable costs and
expenses of Landlord in connection with any request by Tenant for consent to a Transfer by Tenant, including reasonable attorneys’ fees, whether or not consent of Landlord is given to the Transfer by Tenant. 

8.18 Annual Financial Statements. Tenant covenants and agrees to furnish to Landlord annually, within 120 days after the end of
each fiscal year of Guarantor, copies of audited financial statements of Guarantor and agrees that Landlord may deliver any such financial statements to any existing or prospective mortgagee or purchaser of the Property. The financial statements
shall include a balance sheet as of the end of, and a statement of profit and loss for, the preceding fiscal year of Guarantor and, if regularly prepared by Guarantor, a statement of cash flows for the preceding fiscal year of Guarantor. 

  
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 8.19 Payment of Income and Other Taxes. Tenant covenants and agrees to pay promptly
when due all personal property taxes on personal property of Tenant on the Demised Premises and all federal, state and local income taxes, sales taxes, use taxes, Social Security taxes, unemployment taxes and taxes withheld from wages or salaries
paid to Tenant’s employees, the nonpayment of which might give rise to a lien on the Demised Premises or Tenant’s interest therein, and to furnish, if requested by Landlord, evidence of such payments. 

8.20 Estoppel Certificates. Tenant covenants and agrees to execute, acknowledge and deliver to Landlord, upon Landlord’s
written request, a written statement in form provided by Landlord certifying that this Lease is unmodified (or, if modified, stating the modifications) and in full force and effect; stating the dates to which Basic Rent has been paid; and stating
whether or not Landlord is in default under this Lease (and, if so, specifying the nature of the default). Tenant agrees that such statement may be delivered to and relied upon by any existing or prospective mortgagee or purchaser of the Property.
Tenant agrees that a failure to deliver such a statement within 10 days after written request from Landlord shall be conclusive upon Tenant that this Lease is in full force and effect without modification except as may be represented by Landlord;
that there are no uncured defaults by Landlord under this Lease; and that any representation by Landlord with respect to Basic Rent is true. 
 8.21 Landlord Right to Inspect and Show Premises and to Install “For Sale” Signs. Tenant covenants and agrees that Landlord and the authorized representatives of Landlord shall have the
right to enter the Demised Premises at any reasonable tune during ordinary business hours upon reasonable prior notice for the purposes of inspecting, repairing or maintaining the same or performing any obligations of Tenant which Tenant has failed
to perform hereunder or for the purposes of showing the Demised Premises to any existing or prospective mortgagee, purchaser or lessee of the Demised Premises. Tenant covenants and agrees that Landlord may, during the last year of the then current
term of this Lease, place on the Property or the Demised Premises a sign advertising the Property or the Demised Premises for sale or for lease. 
 8.22 Landlord Title to Fixtures. Improvements and Equipment. Tenant covenants and agrees that, except as provided on Exhibit C attached hereto, all fixtures and improvements on the Demised Premises
and all equipment and personal property relating to the use and operation of the Demised Premises (as distinguished from operations incident to the business of Tenant), including all plumbing, heating, lighting, electrical and air conditioning
fixtures and equipment, whether or not attached to or affixed to the Demised Premises, and whether now or hereafter located upon the Demised Premises, shall be and remain the property of the Landlord upon expiration of the Lease Term. 

8.23 Removal of Tenant’s Equipment. Tenant covenants and agrees to remove, at or prior to the expiration of the Lease Term,
all of Tenant’s Equipment, as hereinafter defined. “Tenant’s Equipment” shall mean all equipment, apparatus, machinery, signs, furniture, furnishings and personal property used in the operation of the business of Tenant (as
distinguished from the use and operation of the Demised Premises), whether installed by Tenant or any predecessor occupant of the Demised Premises. If such removal shall injure or damage the Demised Premises Tenant covenants and agrees, at its sole
cost and expense, at or prior to the expiration of the Lease Term, to repair such injury and damage in good and workmanlike fashion and to place the Demised Premises in the same condition as the Demised Premises would have been if such Tenant’s
Equipment had not been installed, subject to normal wear and tear. If Tenant fails to remove any Tenant’s Equipment by the expiration of the Lease Term, Landlord may, at its option, keep and retain any such Tenant’s Equipment or dispose of
the same and retain any proceeds therefrom, and Landlord shall be entitled to recover from Tenant any reasonable costs or expenses of Landlord in removing the same and in restoring the Demised Premises in excess of the actual proceeds, if any,
received by Landlord from disposition thereof. 
 8.24 Tenant Indemnification of Landlord. Subject to Section 8.24A
and Addenda No. 1 and No. 2, Tenant covenants and agrees to protect, indemnify and save Landlord harmless from and against all liability, obligations, claims, damages, penalties, causes of action, costs and expenses, including
attorneys’ fees, imposed upon, incurred by or asserted against Landlord by reason of (a) any accident, injury to or death of any person or loss of or damage to any property occurring on or about the Demised Premises; (b) any act or
omission of Tenant or Tenant’s officers, employees, agents, guests or invitees or of anyone claiming by, through or under Tenant; (c) any use which may be made of, or condition existing upon, the Demised Premises; (d) any
improvements, fixtures or equipment upon the Demised Premises; (e) any failure on the part of Tenant to perform or comply with any of the provisions, covenants or agreements of Tenant contained in this Lease; (f) any violation of any law,
ordinance, order, rule or regulation of governmental authorities having jurisdiction over Tenant or Tenant’s officers, employees, 

  
 8 

 
agents, guests or invitees or by anyone claiming by, through or under Tenant; and (g) any repairs, maintenance or Changes to the Demised Premises by, through or under Tenant. Tenant further
covenants and agrees that, in case any action, suit or proceeding is brought against Landlord by reason of any of the foregoing, Tenant will, at Tenant’s sole cost and expense, defend Landlord in any such action, suit or proceeding. 

8.25 Waiver by Tenant. Tenant waives and releases any claims Tenant may have against Landlord or Landlord’s officers, agents
or employees for loss, damage or injury to person or property sustained by Tenant or Tenant’s officers, agents, employees, guests, invitees or anyone claiming by, through or under Tenant resulting from any cause whatsoever other than negligence
or willful misconduct of Landlord. 
 8.26 Release upon Transfer by Landlord. In the event of a transfer by Landlord of
the Property or of Landlord’s interest as Landlord under this Lease, Landlord’s successor or assign shall take subject to and be bound by this Lease and, in such event, Tenant covenants and agrees that Landlord shall be released from all
obligations of Landlord under this Lease, except obligations which arose and matured prior to such transfer by Landlord: that Tenant shall thereafter look solely to Landlord’s successor or assign for satisfaction of the obligations of Landlord
under this Lease, except for those which matured prior to such transfer; and that, upon demand by Landlord or Landlord’s successor or assign, Tenant shall attorn to such successor or assign. 

 

	IX.	DAMAGE OR DESTRUCTION 

 9.1 Tenant’s Notice of Damage. If any portion of the Demised Premises shall be damaged or destroyed by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord
(“Tenant’s Notice of Damage”). 
 9.2 Options to Terminate if Damage Substantial. [Intentionally Deleted]

 9.3 Obligations to Repair and Restore. Upon receipt of Tenant’s Notice of Damage, this Lease shall continue in
full force and effect and Landlord shall, to the extent of available insurance proceeds, proceed forthwith to cause the Demised Premises to be repaired and restored with reasonable diligence and there shall be abatement of Basic Rent and Additional
Rent proportionate to the extent of the space and period of time that Tenant is unable to use and enjoy the Demised Premises (but only to the extent that Tenant has obtained at its expense rent loss insurance to fully reimburse Landlord for lost
rent during such period). If insurance proceeds are insufficient to repair, rebuild or restore the Demised Premises (unless such insufficiency has been caused by the failure of any holder of a deed of trust or mortgage to make insurance proceeds
available), Tenant shall be obligated to deposit with Landlord the balance of any funds required therefor, upon fifteen (15) days’ written notice. The plans and specifications for such work shall be subject to the prior approval of Tenant,
which approval shall not be unreasonably withheld. Landlord covenants, as loss payee, under the casualty insurance for the Demised Premises, to make available insurance proceeds for the repair and restoration of the Demised Premises, and any holder
of a deed of trust or mortgage on the Demised Premises must consent to the availability of insurance proceeds for repair or restoration. 
 9.4 Application of Insurance Proceeds. The proceeds of any Casualty Insurance maintained on the Demised Premises, other than casualty insurance maintained by Tenant on fixtures and personal
property of Tenant, shall be paid to and become the property of Landlord, subject to any obligation of Landlord to cause the Demised Premises to be repaired and restored. 

 

	X.	CONDEMNATION 

 10.1
Taking – Substantial Taking – Insubstantial Taking. A “Taking” shall mean the taking of all or any portion of the Demised Premises as a result of the exercise of the power of eminent domain or condemnation for public or
quasi-public use or the sale of all or part of the Demised Premises under the threat of condemnation. A “Substantial Taking” shall mean a Taking of so much of the Demised Premises that the Demised Premises cannot thereafter be reasonably
used by Tenant for carrying on, at substantially the same level or scope, the business theretofore conducted by Tenant on the Demised Premises. An “Insubstantial Taking” shall mean a Taking such that the Demised Premises can thereafter
continue to be used by Tenant for carrying on, at substantially the same level or scope, the business theretofore conducted by ‘Tenant on the Demised Premises. 
 10.2 Termination on Substantial Taking. If there is a Substantial Taking with respect to the Demised Premises, the Lease Term shall expire on the date of vesting of title pursuant to such Taking.
In the event of termination of this Lease under the provisions hereof, Landlord shall refund to Tenant such amounts of Basic Rent 

  
 9 

 
and Additional Rent theretofore paid by Tenant as may be applicable to the period subsequent to the time of termination of this Lease. 

10.3 Restoration on Insubstantial Taking. In the event of an Insubstantial Taking, this Lease shall continue in full force and
effect, Landlord shall proceed forthwith to cause the Demised Premises to be restored as near as may be to the original condition thereof and there shall be abatement of Basic Rent and Additional Rent proportionate to the extent of the space so
taken Landlord may, at its option, require Tenant to arrange for and handle the restoration of the Demised Premises, in which case Landlord shall furnish Tenant with sufficient funds for such restoration at the time or times such funds are needed,
utilizing the proceeds of any awards or consideration received as a result of the Taking and any additional funds necessary to cover the costs of restoration. 
 10.4 Right to Award. [Intentionally Deleted – See Addendum No. 2] 
  

	XI.	DEFAULTS BY TENANT 

11.1 Defaults Generally. Each of the following shall constitute a “Default by Tenant” under this Lease: 

11.2 Failure to Pay Rent or other Amounts. A Default by Tenant shall exist if Tenant fails to pay when due, Basic Rent, Additional
Rent, or any other amounts payable by Tenant under the terms of this Lease, and such failure shall continue for 5 days after written notice from Landlord to Tenant of such failure, provided however, that Tenant shall not be entitled to more than two
(2) notices of such failure during any Lease Year (as defined in Section 3.2 above) and if, after two (2) such notices are given in any Lease Year, Tenant fails, during such Lease Year, to pay any such amounts when due, such failure
shall constitute a Default by Tenant without further notice by Landlord. 
 11.3 Violation of Lease Terms. A Default by
Tenant shall exist if Tenant breaches or fails to comply with any agreement, term, covenant or condition in this Lease applicable to Tenant, and such breach or failure to comply continues for a period of thirty (30) days after notice thereof by
Landlord to Tenant, or, if such breach or failure to comply cannot be reasonably cured within such thirty (30) day period, if Tenant shall not in good faith commence to cure such breach or failure to comply within such thirty (30) day
period or shall not diligently proceed therewith to completion. 
 11.4 Nonoccupancy of Demised Premises. [Intentionally
Deleted] 
 11.5 Transfer of Interest Without Consent. A Default by Tenant shall exist if Tenant’s interest under
this Lease or in the Demised Premises shall be transferred to or pass to or devolve upon any other party without Landlord’s prior written consent, except that Tenant shall have the right to transfer its interest in this Lease to any entity in
the “controlled group”, as defined in Internal Revenue Code Section 267(f), of Quebecor Printing Inc., or Quebecor Printing (USA) Holdings Inc. 
 11.6 Execution and Attachment against Tenant. A Default by Tenant shall exist if Tenant’s interest under this Lease or in the Demised Premises shall be taken upon execution or by other process
of law directed against Tenant, or shall be subject to any attachment at the instance of any creditor or claimant against Tenant and said attachment shall not be discharged or disposed of within 15 days after the levy thereof. 

11.7 Bankruptcy or Related Proceedings. A Default by Tenant shall exist if Tenant shall file a petition in bankruptcy or
insolvency or for reorganization or arrangement under the bankruptcy laws of the United States or under any similar act of any state, or shall voluntarily take advantage of any such law or act by answer or otherwise, or shall be dissolved or shall
make an assignment for the benefit of creditors or if involuntary proceedings under any such bankruptcy or insolvency law or for the dissolution of Tenant shall be instituted against Tenant or a receiver or trustee shall be appointed for the Demised
Premises or for all or substantially all of the property of Tenant, and such proceedings shall not be dismissed or such receivership or trusteeship vacated within 60 days after such institution or appointment. 

 

	XII.	LANDLORD’S REMEDIES 

 12.1 Remedies Generally. Upon the occurrence of any Default by Tenant, Landlord shall have the right, at Landlord’s election, then or any time thereafter, to exercise any one or more of the
following remedies: 
 12.2 Cure by Landlord. In the event of a Default by Tenant, Landlord may, at Landlord’s
option, but without obligation to do so, and without releasing Tenant from any obligations under this Lease, make any payment 

  
 10 

 
or take any action as Landlord may deem necessary or desirable to cure any such Default by Tenant in such manner and to such extent as Landlord may deem necessary or desirable. Landlord may do so
without demand on, or written notice to, Tenant and without giving Tenant an opportunity to cure such Default by Tenant. Tenant covenants and agrees to pay to Landlord, within 10 days after demand, all advances, costs and expenses of Landlord in
connection with the making of any such payment or the taking of any such action, including reasonable attorney’s fees, together with interest as hereinafter provided, from the day of payment of any such advances, costs and expenses by Landlord.
Action taken by Landlord may include commencing, appearing in, defending or otherwise participating in any action or proceeding and paying, purchasing, contesting or compromising any claim, right, encumbrance, charge or lien with respect to the
Demised Premises which Landlord, in its discretion, may deem necessary or desirable to protect its interest in the Demised Premises and under this Lease. 
 12.3 Termination of Lease and Damages. In the event of a Default by Tenant, Landlord may terminate this Lease, effective at such time as may be specified by written notice to Tenant, and demand
(and, if such demand is refused, recover) possession of the Demised Premises from Tenant. Tenant shall remain liable to Landlord for damages in an amount equal to the Basic Rent, Additional Rent and other sums which would have been owing by Tenant
hereunder for the balance of the term, had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Demised Premises by Landlord subsequent to such termination, after deducting all Landlord’s expenses in connection
with such recovery of possession or reletting. Landlord shall be entitled to collect and receive such damages from Tenant on the days on which the Basic Rent, Additional Rent and other amounts would have been payable if this Lease had not been
terminated. Alternatively, at the option of Landlord, Landlord shall be entitled to recover forthwith from Tenant, as damages for loss of the bargain and not as a penalty, an aggregate sum which, at the time of such termination of this Lease,
represents the excess, if any, of (a) the aggregate of the Basic Rent, Additional Rent and all other sums payable by Tenant hereunder that would have accrued for the balance of the Lease Term, over (b) the aggregate rental value of the
Demised Premises, for the balance of the Lease Term, both discounted to present worth at the rate of nine percent (9%) per annum. 
 12.4 Repossession and Reletting. In the event of Default by Tenant, Landlord may reenter and take possession of the Demised Premises or any part thereof, without demand or notice, and repossess the
same and expel Tenant and any party claiming by, under or through Tenant, and remove the effects of both using such force for such purposes as may be necessary, without being liable for prosecution on account thereof or being deemed guilty of any
manner of trespass, and without prejudice to any remedies for arrears of rent or right to bring any proceeding for breach of covenants or conditions. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an
election by Landlord to terminate this Lease unless a written notice of such intention is given to Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to
terminate this Lease unless such notice specifically so states. Landlord reserves the right, following any reentry or reletting, to exercise its right to terminate this Lease by giving Tenant such written notice, in which event the Lease will
terminate as specified in said notice. After recovering possession of the Demised Premises, Landlord shall use commercially reasonable efforts to mitigate its damages and in connection therewith may, from time to time, relet the Demised Premises, or
any part thereof, for the account of Tenant, for such term or terms and on such conditions and upon such other terms as Landlord, in good faith, determines to be commercially reasonable. Landlord may make such repairs, alterations or improvements as
Landlord may consider appropriate to accomplish such reletting, and Tenant shall reimburse Landlord upon demand for all costs and expenses, including attorneys’ fees, which Landlord may incur in connection with such reletting. Landlord may
collect and receive the rents for such reletting but Landlord shall in no way be responsible or liable for any failure to relet the Demised Premises, or any part thereof, or for any failure to collect any rent due upon such reletting.
Notwithstanding Landlord’s recovery of possession of the Demised Premises, Tenant shall continue to pay on the dates herein specified, the Basic Rent, Additional Rent and other amounts which would be payable hereunder if such repossession had
not occurred, less any net amounts collected by landlord from reletting the Premises after taking into account all costs and expenses incurred by Landlord in connection with such reletting. If, in connection with any reletting, the new lease term
extends beyond the existing term, or the premises covered thereby include other premises not part of the Demised Premises, a fair apportionment of the rent received from such reletting and the expenses incurred in connection therewith will be made
in determining the net amount recovered from such reletting. Furthermore, the parties acknowledge and agree that Tenant’s investment grade credit standing at the time of the execution of this Lease was a material inducement for Landlord’s
entering into this Lease and Landlord may require that any substitute tenant have at least similar credit standing in Landlord’s efforts to mitigate any damages 

  
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hereunder, or in the alternative, pay increased Base Rent to compensate for the risks associated with a lower credit standing. 

12.5 Landlord’s Lien and Enforcement. [Intentionally Deleted] 

12.6 Suits by Landlord. Actions or suits for the recovery of amounts and damages payable under this Lease may be brought by
Landlord from time to time, at Landlord’s election, and Landlord shall not be required to await the date upon which the Lease Term would have expired to bring any such action or suit. 

12.7 Recovery of Landlord Enforcement Costs. All costs and expenses incurred by Landlord in connection with collecting any amounts
and damages owing by Tenant pursuant to the provisions of this Lease or to enforce any provision of this Lease, including reasonable attorneys’ fees, whether or not any action is commenced by Landlord, shall be paid by Tenant to Landlord upon
demand. 
 12.8 Interest on Past-Due Payments and Advances. Tenant covenants and agrees to pay to Landlord interest on
demand at the rate of three percent (3%) above the “Prime Rate,” as hereinafter defined, not paid by Tenant when due hereunder, from the date due and payable, and on the amount of any payment made by Landlord required to have been
made by Tenant under this Lease and on the amount of any costs and expenses, including reasonable attorneys’ fees, paid by Landlord in connection with the taking of any action to cure any Default by Tenant, from the date of making any such
payment or the advancement of such costs and expenses by Landlord. “Prime Rate” shall mean the rate charged by Citibank, N.A., a national banking association (the “Bank”), or other bank as hereinafter provided, at the time said
Monthly Rent or Monthly Deposit was due and payable or at the time of making any such payment or the advancement of such costs and expenses by Landlord or aforesaid, on 90-day loans to commercial borrowers of nationally recognized and unquestioned
credit as announced by the Bank from time to time, but not in excess of the maximum amount of finance charge permissible under applicable law. In the event that the Bank discontinues the use of a Prime Rate, the Prime Rate being charged by any other
national banking association located in Denver, Colorado, as selected by Landlord in its sole discretion, shall be used for computing the interest rate under this Section. 
 12.9 Landlord’s Bankruptcy Remedies. Nothing contained in this Lease shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency,
receivership, reorganization or dissolution proceeding, an amount equal to the maximum allowable by any statute or rule of law governing such proceeding in effect at the time when such damages are to be proved, whether or not such amount be greater,
equal or less than the amounts recoverable, either as damages or rent, under this Lease. 
 12.10 Remedies Cumulative.
Exercise of any of the remedies of Landlord under this Lease shall not prevent the concurrent or subsequent exercise of any other remedy provided for in this Lease or otherwise available to Landlord at law or in equity. 

 

	XIII.	SURRENDER AND HOLDING OVER 

 13.1 Surrender upon Lease Expiration. Upon the expiration or earlier termination of this Lease, or on the date specified in any demand for possession by Landlord after any Default by Tenant, Tenant
covenants and agrees to surrender possession of the Demised Premises to Landlord, subject to the provisions of Section 8.23 hereof, in good repair and working order, without deferred maintenance, all as certified by Landlord’s engineers,
subject to reasonable wear and tear. 
 13.2 Holding Over. If Tenant shall hold over after the expiration of the Lease
Term, without written agreement providing otherwise, Tenant shall be deemed to be a Tenant from month to month, at a monthly rental, payable in advance, equal to 150% of the Monthly Rental, and Tenant shall be bound by all of the other terms,
covenants and agreements of this Lease. Nothing contained herein shall be construed to give Tenant the right to hold over at any time, and Landlord may exercise any and all remedies at law or in equity to recover possession of the Demised Premises,
as well as any damages incurred by Landlord, due to Tenant’s failure to vacate the Demised Premises and deliver possession to Landlord as herein provided. 
  

	XIV.	MISCELLANEOUS 

14.1 No Implied Waiver. No failure by Landlord to insist upon the strict performance of any term, covenant or agreement contained
in this Lease, no failure by Landlord to exercise any right or remedy under this Lease, and no acceptance of full or partial payment during the continuance of any Default by Tenant, shall constitute

  
 12 

 
a waiver of any such term, covenant or agreement, or a waiver of any such right or remedy, or a waiver of any such Default by Tenant. 

14.2 Survival of Provisions. Notwithstanding any termination of this Lease, the same shall continue in force and effect
(i) for a period of three (3) years following the expiration or termination date hereof as to any provisions hereof which require observance or performance by Landlord or Tenant subsequent to termination and (ii) indefinitely as to
any provisions concerning Hazardous Substances (as defined herein). 
 14.3 Covenants Independent. This Lease shall be
construed as if the covenants herein between Landlord and Tenant are independent, and not dependent, and Tenant shall not be entitled to any offset against Landlord if Landlord fails to perform its obligations under this Lease. 

14.4 Covenants as Conditions. Each provision of this Lease performable by Tenant shall be deemed both a covenant and a condition.

 14.5 Tenant’s Remedies. Tenant may bring a separate action against Landlord for any claim Tenant may have against
Landlord under this Lease, provided Tenant shall first give written notice thereof to Landlord and shall afford Landlord thirty (30) days to cure, or commence efforts to diligently cure, any such default. In addition, Tenant shall send notice
of such default by certified or registered mail, postage prepaid, to the holder of any mortgage or deed of trust covering the Demised Premises, the Property or any portion thereof of whose address Tenant has been notified in writing, and shall
afford such holder thirty (30) days to cure, or commence efforts to diligently cure, any default on Landlord’s behalf. Landlord shall be responsible only for any actual damages incurred by Tenant as a result of a default which is not
timely cured as provided above, and in no event shall Landlord be liable for consequential, speculative or punitive damages. 

14.6 Binding Effect. This Lease shall extend to and be binding upon the heirs, executors, legal representatives, successors and
assigns of the respective parties hereto. The terms, covenants, agreements and conditions in this Lease shall be construed as covenants running with the Land. 
 14.7 Short Form Lease. This Lease shall not be recorded, but the parties agree, at the request of either of them, to execute a short form lease for recording, containing the names of the parties, a
description of the Demised Premises and the Lease Term. 
 14.8 Notices and Demands. All notices, demands or billings
under this Lease shall be in writing, signed by the party giving the same and shall be deemed properly given and received when actually given and received or 3 business days after mailing, if sent by registered or certified United States mail,
postage prepaid, addressed to the party to receive the notice at the address set forth for such party in the first paragraph of this Lease or at such other address as either party may notify the other of in writing. 

14.9 Time of the Essence. Time is of the essence under this Lease, and all provisions herein relating thereto shall be strictly
construed. 
 14.10 Captions for Convenience. The headings and captions hereof are for convenience only and shall not be
considered in interpreting the provisions hereof. 
 14.11 Severability. If any provision of this Lease shall be held
invalid or unenforceable, the remainder of this Lease shall not be affected thereby, and there shall be deemed substituted for the affected provision a valid and enforceable provision as similar as possible to the affected provision. 

14.12 Governing Law. This Lease shall be interpreted and enforced according to the internal laws of the State of Colorado, without
giving effect to choice of law principles, and the parties stipulate that Arapahoe County, Colorado, shall be the venue for any disputes hereunder. 
 14.13 Entire Agreement. This Lease and any exhibits and addenda referred to herein, constitute the final and complete expression of the parties’ agreements with respect to the Demised Premises
and Tenant’s occupancy thereof. Each party agrees that it has not relied upon or regarded as binding any prior agreements, negotiations, representations, or understandings, whether oral or written, except as expressly set forth herein.

 14.14 No Oral Amendment or Modifications. No amendment or modification of this Lease, and no approvals, consents or
waivers by Landlord under this Lease, shall be valid or binding unless in writing and executed by the party to be bound. 

  
 13 

 14.15 Real Estate Brokers. Landlord and Tenant covenant to hold harmless and
indemnify each other from and against any and all cost, expense or liability, including reasonable attorney fees, for any compensation, commissions, charges or claims by any broker or other agent with respect to this Lease or the negotiation
thereof. 
 14.16 Relationship of Landlord and Tenant. Nothing contained herein shall be deemed or construed as creating
the relationship of principal and agent or of partnership, or of joint venture by the parties hereto, it being understood and agreed that no provision contained in this Lease nor any acts of the parties hereto shall be deemed to create any
relationship other than the relationship of Landlord and Tenant. 
 14.17 Limitation on Personal Liability of Landlord.
Notwithstanding anything to the contrary contained in this Lease, it is understood and agreed that there shall be no personal liability on the part of the Landlord or any of its beneficiaries, successors or assigns, with respect to any of the terms,
covenants and conditions of this Lease, and Tenant shall look solely to the equity of Landlord in the Demised Premises in the event of any default or liability of Landlord under this Lease, such exculpation of liability to be absolute and without
any exception whatsoever. 
 14.18 Authority of Tenant. Each individual executing this Lease on behalf of Tenant
represents and warrants that he is duly authorized to deliver this Lease on behalf of Tenant and that this Lease is binding upon Tenant in accordance with its terms. 
 14.19 [Intentionally Deleted] 
 14.20 Additional Provisions. See Addendum
No. 1 and Addendum No., 2 attached hereto and made a part hereof. 
 IN WITNESS WHEREOF the parties hereto have caused this
Lease to be executed the day and year first above written. 
  

							
		  		 	Landlord:
			
	ATTEST:	  		 	ONE DIRECTORY PLACE LLC,
		  		 	a Colorado limited liability company
				
	  
	  	        	 	By:	 	 /s/ Donald P. Cook

	___________________________________________, Secretary	  		 		 	Donald P. Cook, Manager

  
 14 

  

			
	Tenant:
	
	DIRECTORY PRINTING COMPANY
		
	 By:
	 	 /s/ Pierre L. Roy

		 	 Pierre L. Roy, Vice President

		
	 By:
	 	 /s/ Daniel Poulin

		 	 Daniel Poulin, Treasurer

	
	 ATTEST:

	
	 /s/ Guy J. Paquette

	 Guy J. Paquette, Secretary

  
 15 

 EXHIBIT A 
 TO 
 LEASE OF SPACE 

SUMMARY OF BASIC TERMS 
  

							
				
	 1.
	 	Tenant:	  	Directory Printing Company, a Delaware corporation	  	
				
	 2.      
	 	Land:	  		  	

									
				
		 	 (a)
	  	Legal Description:	  	Tract B1, 287 Ltd. Addition First Replat of the City of Loveland, County of Larimer, State of Colorado
		 	 (b)
	  	Approximate Acreage: 14.919 Acres	  	

							
				
	 3.
	 	Building:	  		  	

									
				
		 	 (a)
	  	Type: Concrete Tilt-Up Office/Warehouse	  	
		 	 (b)
	  	Approximate Total Building Square Footage: 125,000 Square Feet	  	

							
				
	 4.
	 	Demised Premises:	  		  	

									
				
		 	 (a)
	  	Approx. Total Square Footage:	  	125,000 Square Feet*
		 	 (b)
	  	Approx. Office Square Footage:	  	42,000 Square Feet
		 	 (c)
	  	Address:	  	One Directory Place, Loveland, Colorado

							
				
	 5.
	 	Initial Lease Term:	  		  	

									
				
		 	(a)	  	Period:	  	Fifteen (15) years
		 	 (b)
	  	Commencement Date:	  	July 21, 1995
		 	 (c)
	  	Expiration Date:	  	July 31, 2010

							
				
	 6.
	 	Basic Rent:	  		  	

  

											
	LEASE
YEAR	  	PERIOD	  	ANNUAL
RENT	 	  	MONTHLY
RENT	 
	1	  	August 1, 1995-July 31, 1996	  	$	625,000	  	  	$	52,083.33	  
	2	  	August 1, 1996-July 31, 1997	  	$	637,500	  	  	$	53,125.00	  
	3	  	August 1, 1997-July 31, 1998	  	$	681,250	  	  	$	56,770.83	  
	4	  	August 1, 1998-July 31, 1999	  	$	701,250	  	  	$	58,437.50	  
	5	  	August 1, 1999-July 31, 2000	  	$	701,250	  	  	$	58,437.50	  
	6	  	August 1, 2000-July 31, 2001	  	$	736,250	  	  	$	61,354.17	  
	7	  	August 1, 2001-July 31, 2002	  	$	758,330	  	  	$	63,194.17	  
	8	  	August 1, 2002-July 31, 2003	  	$	781,250	  	  	$	65,104.17	  
	9	  	August 1, 2003-July 31, 2004	  	$	804,520	  	  	$	67,043.33	  
	  10	  	August 1, 2004-July 31, 2005	  	$	828.656	  	  	$	69,054.67	  
	  11	  	August 1, 2005-July 31, 2006	  	$	853,516	  	  	$	71,126.33	  
	  12	  	August 1, 2006-July 31, 2007	  	$	879,121	  	  	$	73,260.08	  
	  13	  	August 1, 2007-July 31, 2008	  	$	905,195	  	  	$	75,432.92	  
	  14	  	August 1, 2008-July 31,2009	  	$	932,659	  	  	$	77,721.58	  
	  15	  	August 1, 2009-July 31, 2010	  	$	960,630	  	  	$	80,052.50	  
		  		  	 	 	 	  	 	 	 
	TOTALS	  		  	$	11,786,377	  	  	$	982,198.08	  

									
				
	 7.
	 	Additional Rent:	  		  	

													
		 	 (a)
	  	Initial Monthly Deposit for Taxes and Insurance:	  		 	$	 N/A	  	  	
		 	 (b)
	  	Initial Maintenance Charge:	  		 	$	 N/A	  	  	
		 	 (c)
	  	Initial Monthly Payment Due:	  		 	 	N/A	  	  	

													
						
	 8.
	 	Security Deposit Amount:	  		  		 	$	 N/A	  	  	

											
					
	 9.
	 	Place for Payments:	  		  	 One Directory Place LLC

c/o DPC Development Company
 7000 E.
Belleview Avenue, Suite 290
	  			
		 		  		  	Greenwood Village, Colorado 80111	  			
					
	 10.
	 	Permitted Use(s) by Tenant:	  		  	General office, warehouse and printing plant.	  			
					
	 11.
	 	Broker(s):	  		  	CB Commercial Brokerage Group	  			
					
	 12.
	 	Specified Tenant Finish:	  		  	None.	  			

  

	*	The parties acknowledge and agree that in the event the actual size of the Demised Premises is greater or less than 125,000 square feet, there shall be no increase or
decrease in the Basic Rent payable hereunder. 

  
 16 

 ADDENDUM NO. 2 TO LEASE BETWEEN 

ONE DIRECTORY PLACE LLC, AS LANDLORD, 
 AND DIRECTORY PRINTING COMPANY, AS TENANT 
 This Addendum No. 2 is
made a part of that certain Lease dated July 21, 1995, by and between One Directory Place LLC, a Colorado limited liability company (“Landlord”), and Directory Printing Company, a Delaware corporation (“Tenant”). The Lease
shall contain the following additional Sections: 
 3.3 Lease Term Renewal. Tenant shall have the right to
renew the Lease Term for four five-year, consecutive extensions under the same terms and conditions of this Lease, except for each five-year renewal term, Basic Rent shall be equal to the fair market rental rate for the Demised Premises applicable
upon the commencement of such renewal term, taking into consideration Tenant’s use of the Demise Premises, the quality, size, design and location of the Property and the rent for comparable facilities in the vicinity. Such rental rate shall be
increased by three percent (3%) per year for each year of such renewal term; provided, however, that the Basic Rent for the first year of such renewal term shall not be less than one hundred five percent (105%) of the Basic Rent for the
year prior to which the renewal term commenced. Tenant shall provide Landlord with written notice of its intention to extend the Lease Term not less than twelve (12) months nor more than twenty-four (24) months prior to the expiration of
the then current Lease Term. Tenant’s right to renew shall be absolute so long as Tenant is not in default on the date on which such notice is sent and no default has occurred and not been cured as of the first date of the renewal period.
Landlord shall provide Tenant with notice of its proposed Basic Rent for the renewal period within sixty (60) days after receipt of Tenant’s renewal notice, and Tenant shall have thirty (30) days to accept or reject such rate. If
Tenant does not agree to Landlord’s proposed rental rate, Tenant shall notify Landlord and Landlord and Tenant shall have the right at their own expense to obtain an appraisal by an MAI appraiser with not less than five (5) years
commercial experience, familiar with the Loveland area, of the fair market rental rate of the Demised Premises for the first year of the renewal period, the results of which shall be provided to each party within sixty (60) days after Tenant
has rejected Landlord’s proposed rate. If the result of Landlord’s appraisal and Tenant’s appraisal are within ten percent (10%) of each other, the results shall be averaged and shall be the Basic Rent for the renewal term,
subject to the minimum Basic Rent rate specified above. If the results of Landlord’s appraisal and Tenant’s appraisal are not within ten percent (10%) of each other, the two appraisers shall select a third appraiser, the cost of which
shall be shared equally between Landlord and Tenant. The result of the third appraisal shall be averaged with the appraisal of Landlord’s or Tenant’s which is the closest thereto, and the result shall be the Basic Rent for the renewal
term, subject to the minimum Basic Rent rate specified above. 
 8.13A Expansion. 

1. First Expansion. Landlord shall construct and complete as soon as practicable an additional fifteen thousand
(15,000) feet of gross leasable area of warehouse space to be located adjacent and attached to the existing Improvements, as described on the site plan which is Exhibit B to the Lease (the “Warehouse Space”). The Warehouse Space shall
consist of unfinished heated/cooled warehouse space with a ceiling height and floor load bearing capacity comparable to that in the Demised Premises as of the date of this Lease. The Landlord shall utilize an architect, engineer and general
contractor reasonably acceptable to Tenant. The plans for the Warehouse Space shall be approved by Tenant prior to construction. All costs of permitting, professional fees, labor and material charges and all other costs of constructing the Warehouse
Space shall be borne by Landlord and paid in a timely fashion. Such construction work shall be done in a matter that does not materially interfere with Tenant’s operations. Upon receipt of a certificate of occupancy for the Warehouse Space,
Tenant shall pay Basic Rent for the Warehouse Space at the following rental rate per gross leasable square foot: 

  
 Addendum 2
– 1 

  

					
	 August 1, 1995 - July 31, 1996
	  	$	5.00/SF	  
	 August 1, 1996 - July 31, 1997
	  	$	5.10/SF	  
	 August 1, 1997 - July 31, 1998
	  	$	5.45/SF	  
	 August 1, 1998 - July 31, 1999
	  	$	5.61/SF	  
	 August 1, 1999 - July 31, 2000
	  	$	5.61/SF	  
	 August 1, 2000 - July 31, 2001
	  	$	5.89/SF	  
	 August 1, 2001 - July 31, 2002
	  	$	6.07/SF	  
	 August 1, 2002 - July 31, 2003
	  	$	6.25/SP	  
	 August 1, 2003 - July 31, 2004
	  	$	6.41/SF	  
	 August 1, 2004 - July 31, 2005
	  	$	6.63/SF	  
	 August 1, 2005 - July 31, 2006
	  	$	6.83/SF	  
	 August 1, 2006 - July 31, 2007
	  	$	7.03/SF	  
	 August 1, 2007 - July 31, 2008
	  	$	7.24/SF	  
	 August 1, 2008 - July 31, 2009
	  	$	7.46/SF	  
	 August 1, 2009 - July 31, 2010
	  	$	7.69/SF	  

 Such
Basic Rent shall be for the amount of gross leasable area of the Warehouse Space, as determined by the architect’s BOMA survey. Tenant shall pay Additional Rent on the Warehouse Space as provided in the lease for the remainder of the Demised
Premises. The Warehouse Space shall be a part of the Demised Premises, and Tenant’s use and occupancy of the Warehouse Space shall be on the same terms and conditions of this Lease, and shall be coterminous with the term of this Lease. The
Basic Rent for the Warehouse Space during any renewal term shall be determined consistent with the criteria identified in Section 3.3 above. 
 2. Second Expansion. Provided Tenant is not in default hereunder, and there has not been a material adverse change in the financial condition of Tenant or Guarantor, Tenant shall have the right to
further expand the Premises (the “Second Expansion”), on the following terms and conditions: 
 (a) The
Second Expansion shall contain not less than 40,000 square feet nor more than 70,000 square feet; 
 (b) Landlord
(and its Lender) shall have the right to review and approve all plans and specifications for the Second Expansion, which approval shall not be unreasonably withheld, and Tenant shall incorporate into the plans and specifications any modifications
reasonably requested by Landlord which are designed to make the Second Expansion a reasonably usable facility for future occupants or requirements to preserve the value of the original Demised Premises; 

(c) At the time that the Second Expansion has been constructed and is ready for occupancy the remaining term of the Lease
must be for not less than ten (10) years (regardless of whether Landlord or Tenant constructs the Second Expansion, as provided below) and Tenant shall be required to waive and relinquish its right of early termination specified in
Section 3.2 above and its purchase option specified in Section 14.22 below. If less than ten (10) years remain on the Lease, the term shall be extended to a term of ten (10) years and Base Rent shall be determined pursuant to
Section 3.3 above, for any years beyond Lease year fifteen; 
 (d) The Second Expansion shall be constructed
by Landlord, at its sole cost and expense, on the express condition that (x) Landlord and Tenant reach agreement on Basic Rent for the Second Expansion, as provided in (e) below, (y) the cost per square foot does not exceed $40.00 and
(z) the Second Expansion can be financed on terms and conditions acceptable to Landlord, in its discretion. If any of the conditions in (x), (y) or (z) of the preceding sentence are not met, Tenant shall then have the right to
construct the Second Expansion, as provided in (g) below; 
 (e) The Basic Rent for the Second Expansion
shall be a commercially reasonable rental rate then being paid by tenants of comparable commercial facilities at the time of the Second Expansion, but in no event shall the Basic Rent produce a return upon Landlord’s entire

  
 Addendum 2
– 2 

 
cost (whether such funds, or any portion thereof, are borrowed or represent Landlord’s equity) to construct the Second Expansion of less than 300 basis points above the “Loan
Constant”, as defined below (the “Minimum Rate”); 
 (f) The parties acknowledge that Landlord
intends to finance a significant portion of the cost to construct the Second Expansion, and a condition to Landlord’s obligation to construct the Second Expansion shall be Landlord’s ability to obtain financing on terms and conditions
acceptable to Landlord, in its discretion; and 
 (g) If (x) Landlord and Tenant are unable to reach
agreement on the Basic Rent, (y) the cost per square foot exceeds $40.00, and Landlord is unwilling to waive such limitation or (z) Landlord does not obtain financing terms acceptable to Landlord, then Tenant shall have the right to
construct, at its own cost, the Second Expansion, and Tenant shall not be charged any Basic Rent for the Second Expansion, but shall be liable for all Additional Rent attributable to the Second Expansion. 

(h) After Tenant’s occupancy of the Second Expansion, all references in the Lease to the Demised Premises shall
include the Second Expansion. 
 (i) The “Loan Constant” shall be the percentage of the original loan
balance required to be paid annually (in monthly installments) to fully amortize the loan obtained by Landlord to construct the Second Expansion over the greater of (x) ten (10) years or (y) the amortization schedule required by such
loan. 
 8.24.A Limitation on Indemnification. Tenant shall not be responsible for the indemnification of
Landlord under Section 8.24 to the extent that any liability, obligation, claim, damage, penalty, cause of action, cost or expense, including attorneys’ fees, otherwise incurred or asserted against Landlord under such section is caused by
the negligence or willful misconduct of Landlord or its employees, agents or independent contractors; provided, however, that any alleged negligence of Landlord must be based upon a duty expressly assumed by Landlord under this Lease. 

9.5 Damage During Last Two Years. If at any time during the last two (2) years of the Lease Term (as extended
according to Section 3.3) the Improvements are so damaged by fire or otherwise that the cost of the restoration exceeds fifty percent (50%) of the replacement value of the Improvements (exclusive of foundations) immediately prior to such
damage, either Landlord or Tenant may, within thirty (30) days after such damage, give notice of its election to terminate this Lease and, subject to the further provisions of this Section, this Lease will cease on the ninetieth (90th) day
after the delivery of such notice. Basic Rent and Additional Rent will be apportioned and paid to the time of such termination. If this Lease is so terminated, the entire insurance proceeds will belong to the Landlord. 

10.4 Right to Award. In connection with any taking subject to 10.1, Tenant may prosecute its own claim by separate
proceedings against the condemning authority for damages legally due to it only so long as Tenant’s award does not diminish or otherwise adversely effect Landlord’s award. If this Lease terminates according to Section 10.2, the
condemnation award will be paid in the order in this Section to the extent that it is sufficient: 
  

	 	(a)	First, all holders of liens against the Demised Premises shall be paid in full. 

 

	 	(b)	Second, Landlord will be reimbursed for its reasonable attorneys’ fees, appraisal fees and other costs incurred in prosecuting the claim for the award.

  

	 	(c)	Third, Landlord will be paid the then present value of the Purchase Price (as defined in Section 14.22 below) discounted at nine percent (9%) (if during the
first ten (10) years of the term) and increased by eleven percent (11%) per annum if thereafter, as compensation for lost rent and the reversion. 

  
 Addendum 2
– 3 

  

	 	(d)	Fourth, Tenant will be paid its adjusted book value as of the date of the taking of its Improvements (excluding trade fixtures) made to the Demised Premises. In
computing its adjusted book value, its Improvements will be conclusively presumed to have been appreciated or amortized for federal income tax purposes over their useful lives with a reasonable salvage value. 

 

	 	(e)	Fifth, the balance will be divided equally between Landlord and Tenant. 

14.21 Consents or Approvals. Any consent or approval required of Landlord or Tenant under the terms of this Lease
will not be unreasonably withheld, conditioned or delayed. 
 14.22 Purchase Option.
Tenant shall have the right to purchase the Demised Premises for a purchase price equal to Seven Million Eight Hundred Fifty Thousand ($7,850,000.00) Dollars plus Landlord’s actual costs (including a construction management fee of 10%, but such
fee shall be included therein only to the extent that Landlord perform services such as securing approvals, meeting with neighbors and zoning officials, coordinating with and reviewing the work of independent consultants, preparing punch lists and
enforcing warranties, etc., which are reasonably related to such fee) to construct the First Expansion (the “Purchase Price”) following the tenth (10th) anniversary of the Commencement Date and prior to the eleventh (11th) anniversary thereof. Tenant shall exercise its right by
providing Landlord with six (6) months’ prior written notice and submitting a non-refundable earnest money deposit of One Hundred Thousand ($100,000.00) Dollars to be held by Landlord until closing and applied to the Purchase Price.
Closing shall take place on a date and at a time and place agreed to by the parties prior to the eleventh
(11th) anniversary of the Lease Term; provided, that
Landlord shall have the right to designate a ninety (90) day period within which closing must occur. At closing, Landlord will convey the Demised Premises to Tenant by special warranty deed, subject only to those exceptions or matters of record
stated on the title commitment issued as of the date of this Lease and such other exceptions contained in the title commitment which are accepted or waived by Tenant as set forth below. The Lease shall be deemed to have merged into the deed. At
Landlord’s expense, it shall provide Tenant with an ALTA Form B Title Policy, with all preprinted exceptions deleted. All other closing costs will be borne equally by Landlord and Tenant, except each party will be responsible for its own
attorneys’ fees. All real property taxes and assessments shall be prorated at closing. Tenant agrees to notify Landlord of any objections Tenant may have to title within ten (10) days after receiving a copy of a current title insurance
commitment following notice of exercise of the option. Tenant shall have the right to rescind this option to purchase the Demised Premises if any title exception to which Tenant objects cannot be removed or endorsed over prior to closing and shall
have promptly returned its earnest money deposit. If the Demised Premises are encumbered by one or more deeds of trust or mortgages at the time of closing, so much of the Purchase Price as is required to obtain releases of such liens shall be paid
to such lienholders upon closing. In addition, if any first loan encumbering the Demised Premises is assumable (subject to customary terms and conditions, such as underwriting criteria and an assumption fee payable by Tenant) and Tenant elects not
to (or does not qualify to) assume such loan, Tenant shall be responsible for the payment of any prepayment penalty or yield maintenance premium required to obtain a release of any such lien. Landlord shall not encumber the Demised Premises to the
extent that the Purchase Price will not satisfy in full all lienholders. Tenant shall have the right to enforce this Section by specific performance or damages at law. Landlord’s remedy in the event of Tenant’s default under this Section
shall be limited to receipt of the earnest money deposit. Each party represents and warrants that no broker is entitled to a commission upon such sale and each shall indemnify the other for any breach of such representation. In the event of a
casualty to the Demised Premises prior to the eleventh (11th) anniversary of the Commencement Date that allows the Landlord to terminate this Lease, Tenant shall have the right to pay Landlord the difference between the Purchase Price and the
insurance proceeds received and obtain title to the Demised Premises in accordance with this Section. 

  
 Addendum 2
– 4 

 14.23 Burlington Northern Agreements. 

(a) Tenant acknowledges that it has received a copy of (i) that certain Industrial Track Agreement dated
November 21, 1990 (the “Track Agreement”) between Burlington Northern Railroad Company (“Burlington Northern”) and U.S. West Marketing Resources Corporation (“US West”), (ii) that certain Lease Agreement dated
May 1, 1990 (the “Access Agreement”) between Burlington Northern and US West, and (iii) that certain Lease Agreement dated March 30, 1987 (the “Loading Dock Agreement”) between Burlington Northern and US West. The
Track Agreement, Access Agreement and Loading Dock Agreement shall be collectively referred to herein as the “Railroad Agreements”). 
 (b) Tenant is aware that the Railroad Agreements are terminable upon thirty (30) days written notice by the Railroad, and the annual rent thereunder may be adjusted at any time by the Railroad.
Further, if the Railroad exercises its rights to terminate the Railroad Agreements, ‘Tenant shall be solely liable for (i) the cost to remove all improvements (including all roads, structures and track, if requested by the Railroad) from
the property (the “Railroad Property”) which is the subject of the Railroad Agreements, (ii) the cost to repair or rebuild the improvements upon the Demised Premises, to a condition as close as possible to what existed prior to the
required removal of improvements on the Railroad Property and reasonably satisfactory to Landlord, as a result of the forced removal of improvements from the Railroad Property, and (iii) the continued payment of all Rent due hereunder, without
any reduction or abatement whatsoever as result of the termination of the Railroad Agreements or forced removal of improvements from the Railroad Property. If requested by Tenant, Landlord will repair or rebuild the improvements upon the Demised
Premises, as required herein, at Tenant’s sole cost and expense and will consider (without obligation) obtaining financing to pay for such repairs and improvements and incorporating such financing costs in the Rent payable hereunder. Tenant
fully understands and agrees that (x) it is assuming all risks associated with the Railroad Agreements and the potential termination or modification thereof by the Railroad, (y) Tenant shall be obligated to assume and perform all
obligations thereunder, including, without limitation, the payment of all Rent due pursuant thereto, and (z) Tenant shall indemnify and hold Landlord harmless from any and all liabilities, costs or expenses incurred by or asserted against
Landlord, including reasonable attorney’s fees, in connection with the Railroad Agreements during the term of the Lease, except to the extent caused by the negligence or willful misconduct of Landlord or its employees, agents or independent
contractors. 
 (c) In consideration of Tenant’s agreement to assume all risks under the Railroad
Agreements, Landlord agrees that during the term of the Lease, Tenant shall have all rights of use under the Railroad Agreements. Landlord further agrees that it shall take no action to terminate, modify or amend the Railroad Agreements without the
prior written consent of Tenant, not unreasonably withheld. If Landlord or Tenant receives any written notice or communication in connection with the Railroad Agreements, a copy of such notice or communication shall be promptly forwarded to the
other party hereunder. 
 14.24 As-Is. By agreeing to accept the Demised Premises in its “as is”
condition, Tenant acknowledges that Landlord has not made and does not hereby make any representation or warranty with respect to (i) the quality, nature, adequacy or physical condition of the Demised Premises including, but not limited to, the
structural elements, foundation, roof, appurtenances, access, landscaping, parking facilities, or the electrical, mechanical, HVAC, plumbing, sewage or utility systems, facilities or appliances at the Demised Premises, if any; (ii) the quality,
nature, adequacy or physical condition of soils or the existence of ground water at the Demised Premises; (iii) the existence, quality, nature, adequacy or physical condition of any utilities serving the Demised Premises; (iv) the
development potential of the Demised Premises, its habitability, purchasability, or the fitness, suitability or adequacy of the Demised Premises for any particular purposes; (v) the zoning or the legal status of the Demised Premises;
(vi) the Demised Premises or its operations, compliance with any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions or restrictions of any governmental or quasi-governmental entity or of any

  
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other person or entity; (vii) the quality of any labor or materials relating in any way to the Demised Premises; or (viii) the condition of title to the Demised Premises or the nature,
status and extent of any right of way, lease, right of redemption, possession, lien, encumbrance, license, reservation, covenant, condition, restriction, or any other matter affecting title to the Demised Premises. Except as expressly provided in
this Lease, Landlord has not, does not, and will not make any representations or warranties with respect to the Demised Premises, and Tenant specifically disclaims any other implied warranties or warranties of rights of operation of law, including,
but in no way limited to, any warranty of condition, merchantability, habitability or fitness for a particular purpose or use. Furthermore, Landlord has not, does not, and will not make any representation or warranty with regard to compliance with
any environmental protection, pollution or land use laws, rules, regulations, orders or requirements, including, but not limited to, those pertaining to the handling, generating, treating, storing or disposing of any hazardous waste or substance
including, without limitation, asbestos, PCB and radon. 
 14.25 Notices. All notices required or
permitted hereunder shall be in writing and shall be served on the parties at the addresses first set forth on the first page of the Lease. Any such notices shall be either (a) sent by certified mail, return receipt requested, in which case
such notice shall be deemed delivered five (5) business days after deposit, postage pre-paid in the U.S. Mail (or if sent by Seller, in the U.S. or Canadian Mail), (b) sent by overnight delivery using a recognized overnight courier, in
which case such notice shall be deemed delivered one (1) business after deposit with such courier, (c) sent by telecopy, in which case such notice shall be deemed delivered upon transmission of such notice, or (d) sent by personal
delivery. The addresses set forth on the first page of the Lease may be changed by written notice to the other party; provided, however, that no notice of a change of address shall be effective until actual receipt of such notice. 

14.26 Single Purpose Entity. Landlord covenants and agrees that the purpose of One Directory Place LLC is, and
shall remain, limited to the acquisition, ownership, management leasing, financing and disposition of the Demised Premises, and other purposes incidental to the ownership of the Demised Premises. Any sale by One Directory Place LLC of the Demised
Premises to a third party other than Tenant, a holder of a mortgage or deed of trust, or any successor to a holder of a mortgage or deed of trust, shall be limited to an entity whose purpose is limited to the purposes identified above for One
Directory Place LLC. 
 14.27 Restrictions on Transfer. Provided that Tenant is not in default hereunder
(beyond the expiration of any applicable notice and/or grace periods) the following restrictions on Landlord’s right to sell the Demised Premises shall apply during the initial term of the Lease: 

(a) From July 1, 1995, through and including June 30, 1997, Landlord shall not convey the Demised Premises to
any third party (except as provided in Section 14.27(c) below); 
 (b) From July 1, 1997, through the
balance of the initial term of the Lease, Tenant shall have a right of first opportunity to purchase the Demised Premises on the following terms and conditions: 

(i) If Landlord desires to sell the Demised Premises, Landlord shall notify Tenant in writing of its intention to do so
(“Landlord’s Notice”) and the proposed price (the “Offered Price”) which Landlord is willing to accept; 
 (ii) Tenant shall have forty-five (45) days after receipt of Landlord’s Notice within which to elect to purchase the Demised Premises at the Offered Price in cash or certified funds by written
notice to Landlord; 
 (iii) If Tenant timely elects to purchase the Demised Premises, closing shall occur sixty
(60) days thereafter, and Landlord shall have the right of specific performance and/or damages to enforce Tenant’s obligation to purchase the Demised Premises; 

  
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 (iv) If Tenant does not elect to timely purchase the Demised Premises,
Landlord shall be free to sell the Demised Premises to any third party for a price not less than ninety-three percent (93%) of the Offered Price. If Landlord thereafter desires to sell the Demised Premises for a price (the “Reduced
Price”) at less than ninety-three percent (93%) of the Offered Price, Landlord shall offer such opportunity to Tenant and Tenant shall have ten (10) days within receipt of Landlord’s new notice in which to elect to purchase the
Demised Premises at the Reduced Price. If Tenant fails to elect to purchase the Demised Premises at the Reduced Price within ten (10) days of receipt of such notice, Landlord shall then be entitled to complete the sale of the Demised Premises
at the Reduced Price; 
 (v) If Tenant does not elect to purchase the Demised Premises in accordance with the
right of opportunity described herein, and Landlord completes the sale of the Demised Premises to a third party, the right of opportunity shall expire and be of no further force and effect. 

(c) The restrictions on transfer contained herein shall in no event apply to any foreclosure, deed in lieu of
foreclosure, or other transfer by Landlord to the holder to a deed of trust or mortgage, or their successors in interest thereto. 
 14.28 Lease Modifications. Landlord and Tenant agree that the terms and conditions of this Lease shall not be modified or amended except by a written agreement by and among Landlord, Tenant and
Quebecor Printing, Inc., which has executed and delivered to Landlord that certain Guaranty of Lease of even date herewith. 
 14.29 Performance of Contracts and Permits. Tenant’s agreement that this Lease shall be absolutely net to Landlord, as set forth in Section 4.4 above, shall include, but not be limited
to, Tenant’s agreement to fully perform all obligations of Landlord under each of the following contracts, agreements, licenses and permits: 
 1. Securus, Inc. – 5-year lease effective September 1992 for entry surveillance cameras and associated equipment. 
 2. Securus, Inc. – Maintenance agreement on DP-owned VCR and monitor. 

3. Securus, Inc. – 5-year lease effective March 1993 for Card Access Security System. 

4. Wyco, Inc. – Maintenance agreement HVAC system plant. 

5. Wyco, Inc. – Maintenance agreement HVAC system 1st and 2nd floor offices. 

6. Wyco, Inc. – Maintenance agreement for 2 Liebert units in computer room. 

7. Colorado Department of Public Health and Environment – Construction Permit (the “APEN Permit”) No. 93 LR 573,
issued February 23, 1995, as modified and amended. 
 In addition, Tenant agrees that it shall promptly forward to Landlord
(i) copies of all reports required to be submitted by Tenant in connection with the APEN Permit, and (ii) copies of any notices, correspondence or demands received by Tenant in connection with the APEN Permit. 

  
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