Document:

EX-10.107

 Exhibit 10.107 

ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT 

This Assignment and Assumption of Purchase Agreement (“Assignment”) is entered into between KBS CAPITAL ADVISORS LLC, a
Delaware limited liability company (“Assignor”), and KBSIII 500 WEST MADISON, LLC, a Delaware limited liability company (“Assignee”), as of October 30, 2013 at 9:00 A.M. (“Effective Date”).

 RECITALS 

A.         Pursuant to the terms of that certain Purchase and Sale Agreement effective as of
October 30, 2013 at 8:00 A.M., by and between UST-GEPT Joint Venture, L.P., as seller, and Assignor, as buyer (the “Purchase Agreement”), Assignor agreed to acquire the Property (as such term is defined in the Purchase
Agreement) commonly referred to as 500 W. Madison Street, Chicago, Illinois. 
 B.         Assignor
desires to assign, without recourse, representation or warranty, all of its rights, benefits, liabilities and obligations arising under the Purchase Agreement (and related documents) to Assignee, and Assignee desires to assume all of said rights,
benefits, liabilities and obligations. 
 NOW, THEREFORE, in consideration of the foregoing promises, the mutual undertakings of the
parties set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties agree as follows: 

1.         Recitals. The above recitals are incorporated herein by reference. 

2.         Assignment and Assumption. Assignor hereby transfers, assigns and conveys, without
recourse, representation or warranty, express or implied, all of Assignor’s rights, interests, liabilities and obligations in and to the Property, and all of Assignor’s rights, interests, liabilities and obligations under the Purchase
Agreement (and related documents) to acquire same to Assignee. Assignee hereby assumes all such rights, interests, liabilities and obligations, and joins in all representations, warranties, releases, and indemnities, of Assignor under the Purchase
Agreement (and related documents) relating to such Property and the Purchase Agreement (and related documents) assigned to it above. 

3.         Successors and Assigns. This Assignment shall be binding upon and inure to the
benefit of the parties’ successors and assigns. 
 4.         Attorneys’ Fees. In
the event any party institutes any action or proceeding against the other party with regard to this Assignment, the prevailing party of such action shall be entitled to recover from the nonprevailing party (in addition to all other remedies provided
by law) its attorneys’ fees and costs incurred in such action or proceeding. 
 5.        
Release Under Purchase Agreement. Upon consummation of the transactions contemplated by the Purchase Agreement, Assignor shall be automatically released from its obligations under the Purchase Agreement. 

  
 1 

 6.         Counterparts. This Assignment may be
executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same instrument. Each counterpart may be delivered by facsimile transmission. The signature page of
any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto. 

[Signatures to Follow] 

  
 2 

 Executed as of the date set forth above. 

 

			
	ASSIGNOR:
	
	 KBS CAPITAL ADVISORS LLC,
 a
Delaware limited liability company

		
	By:	 	 /s/ David E. Snyder

		 	David E. Snyder,
		 	Chief Financial Officer

											
	ASSIGNEE:
	
	 KBSIII 500 WEST MADISON, LLC,
 a
Delaware limited liability company

		
	By:	    	KBSIII REIT ACQUISITION XI, LLC,
		    	 a Delaware limited liability company,

its sole member

			
		    	By:	    	KBS REIT PROPERTIES III, LLC,
		    		    	a Delaware limited liability company,
		    		    	its sole member
				
		    		    	By:	    	KBS LIMITED PARTNERSHIP III,
		    		    		    	a Delaware limited partnership,
		    		    		    	its sole member
					
		    		    		    	By:	    	KBS REAL ESTATE INVESTMENT TRUST III, INC.,
		    		    		    		    	a Maryland corporation,
		    		    		    		    	its general partner
						
		    		    		    		    	By:	    	 /s/ David E. Snyder

		    		    		    		    		    	David E. Snyder,
		    		    		    		    		    	Chief Financial OfficerEX-10.108

 Exhibit 10.108 

ASSUMPTION AND JOINDER AGREEMENT 

This ASSUMPTION AND JOINDER AGREEMENT, dated as of December 3, 2013 (this “Joinder Agreement”), is made by KBSIII
201 SPEAR STREET, LLC, a Delaware limited liability company (the “Additional Borrower”), each of the other Borrowers party to the Loan Agreement referred to below, and U.S. Bank National Association, a national banking
association, as administrative agent for the Lenders party to the Loan Agreement referred to below (“Agent”) and the Lenders described below. 

RECITALS 

A.        Reference is made to that certain Loan Agreement dated as of April 30, 2012, as amended
by, among other documents, that certain Third Modification and Additional Advance Agreement (Long Form) (the “Third Modification Agreement”) dated as of January 29, 2013 (as amended, restated, extended, supplemented, or
otherwise modified in writing from time to time, the “Loan Agreement”), among KBSIII DOMAIN GATEWAY, LLC, a Delaware limited liability company, KBSIII LAS CIMAS IV, LLC, a Delaware limited liability company,
KBSIII 1550 WEST MCEWEN DRIVE, LLC, a Delaware limited liability company, KBSIII 155 NORTH 400 WEST, LLC, a Delaware limited liability company, and KBSIII TOWER AT LAKE CAROLYN, LLC and each other New Borrower that has become a
Borrower under the Loan Agreement (each, an “Existing Borrower” and, collectively, “Existing Borrowers”), each lender from time to time a party hereto (individually, a “Lender”
and collectively, the “Lenders”), and Agent. Any capitalized term used and not defined in this Joinder Agreement shall have the meaning given to such term in the Loan Agreement. This Joinder Agreement is a “Joinder
Agreement” described in the Loan Agreement. 
 B.        The Additional Borrower is a New
Borrower which is owned, directly or indirectly, by Guarantor. 
 C.        Pursuant to
Section 7.21 of the Loan Agreement, Existing Borrowers and the Additional Borrower have requested that certain real property owned by the Additional Borrower (the “Additional Property”) more particularly described
on Exhibit A attached hereto be included in the Borrowing Base Value and Borrowing Base Amount as an Additional Property. The legal description of the Additional Property attached as Exhibit A hereto is hereby added to Exhibit
C of the Loan Agreement. The Additional Property Improvements (the “KBS Spear Street Improvements”) are described in Exhibit B attached hereto and incorporated herein, and are by this reference added to Exhibit
B of the Loan Agreement. The Cost Basis of the Additional Property is
$[                            ]. The U.S. EIN of Additional Borrower is 46-3998675. 

D.        The Committed Amount of the Loan is currently $200,000,000.00 (as amended, the
“Loan”) as evidenced, in part, by the Loan Agreement and the “Notes” as defined and described in the Third Modification Agreement. Upon the effective date of this Joinder Agreement (and prior to the
disbursement of any portion of the Committed Amount in connection with adding the Additional Property as collateral for the Loan), the outstanding principal balance of the Loan is $80,000,000.00. 

  
 1 

 E.        As one of the conditions to the admission of
the Additional Property as an Approved Property, the parties hereto are executing this Joinder Agreement. 
 NOW, THEREFORE, in
consideration of the foregoing Recitals and the terms, covenants, and conditions of this Joinder Agreement, the receipt of which and sufficiency of which are hereby acknowledged, the Additional Borrower, Existing Borrowers, Agent and Lenders agree
as follows: 
 1.        Joinder as Borrower; Additional Property as a Property. The
Additional Borrower assumes and agrees to be bound by all of the terms, obligations, covenants, representations, warranties and conditions of the Loan Agreement, the Notes, the Fee Letter, the Environmental Indemnity, jointly and severally with the
other Persons comprising the Borrowers, and assumes and agrees to be bound thereby, and shall be deemed to be a party thereto, as a Borrower and Indemnitor (as defined in the Environmental Indemnity), as if the Additional Borrower had originally
executed the Loan Agreement, the Notes, the Fee Letter and the Environmental Indemnity. The Additional Borrower hereby agrees (i) that the Additional Property shall constitute a Property for all purposes under the Loan Agreement, Environmental
Indemnity and the other Loan Documents and (ii) to execute and deliver such additional documents as Agent may reasonably require, including a Deed of Trust. 

2.        Consent And Acceptance. Existing Borrowers, Agent, Lenders and Guarantors (by their
signatures to the consent attached hereto) hereby consent to the assumption of the Loan Agreement, the Notes, the Fee Letter, and the Environmental Indemnity and the Obligations by the Additional Borrower and agree and acknowledge that after the
date of this Joinder Agreement, (i) the Additional Borrower shall be a “Borrower” and (ii) the Additional Property shall be a “Property,” for all purposes of the Loan Agreement, the Notes,
the Fee Letter and the Environmental Indemnity and each of the other Loan Documents, including for purposes of the indemnity provided to Agent and Lenders by each of the Borrowers (including Additional Borrower upon execution of this Joinder
Agreement) under the Environmental Indemnity. Each of the undersigned hereby consents, acknowledges and approves the foregoing notwithstanding any requirement of the Loan Documents to the contrary, and each of the undersigned specifically
acknowledges that the current occupancy level of the Additional Property is 84% and that Agent has approved an initial Borrowing Base Amount allocable to the Additional Property of $79,950,000 (as permitted under the definition of Borrowing Base
Amount). 
 3.        Ownership of Additional Borrower. The Additional Borrower and each
other Borrower represent and warrant to Lenders and Agent that the Additional Borrower is wholly-owned, directly or indirectly, by Properties REIT. 

4.        Legal Status; Organizational Documents. The Additional Borrower represents and
warrants to Agent and each Lender that (i) true, correct and accurate copies of all of the organizational documents of the Additional Borrower have been delivered to Agent and (ii) Additional Borrower is a limited liability company duly
formed, validly existing and in good standing under the laws of the State of Delaware and is duly registered and qualified to transact business in, and is in good standing under the laws of, the state in which the Additional Property it owns is
located, and has all power, authority, permits, consents, authorizations and licenses necessary to carry on its business, to construct, equip, own and operate such Additional Property 

  
 2 

 
and to execute, deliver and perform this Agreement and the other Loan Documents; all consents of the members of Additional Borrower necessary to authorize the execution, delivery and performance
of this Joinder Agreement and of the other Loan Documents which have been or are to be executed by and on behalf of Additional Borrower have been duly obtained and are in full force and effect; this Joinder Agreement and such other Loan Documents
have been duly authorized, executed and delivered by and on behalf of Additional Borrower so as to constitute this Joinder Agreement and such other Loan Documents the valid and binding obligations of Additional Borrower, enforceable in accordance
with their terms; and Additional Borrower has complied with all applicable assumed and/or fictitious name requirements of the state in which it is organized and of the state in which the Additional Property it owns is located, if different. 

5.        No Default; Compliance with Loan Agreement. The Additional Borrower and each other
Borrower covenant, represent and warrant to Agent and each Lender that: 

(a)         Additional Borrower owns fee title to the Additional Property, does not
own any other property other than the Additional Property, and has satisfied the other requirements set forth in Section 7.21(b) of the Loan Agreement. 

(b)         To the best of Additional Borrower’s knowledge, the Additional
Property is free from all Hazardous Substances except as disclosed in that certain Phase I Environmental Site Assessment prepared by ENVIRON International Corporation dated as of October 2013 (Project No. 04-5242HJ), in the form disclosed
to Agent as of the date of the recordation of a Deed of Trust against the Additional Property. 

(c)         The Additional Property and all related personal property is free and
clear of all liens, charges and encumbrances other than Permitted Encumbrances (as defined in the Loan Agreement) or except as otherwise agreed by Agent in writing. For purposes of clarification, the Deed of Trust to be recorded against the
Additional Property shall be a “Deed of Trust” as defined in the Loan Agreement and the title policy insuring Agent’s and the Lenders’ lien under such Deed of Trust shall be a “Title Policy” as defined in the Loan
Agreement. Exhibit D to the Loan Agreement is hereby deemed to include reference to such Title Policy and Deed of Trust. 

(d)         Except as otherwise disclosed to Agent in writing, each of the
representations and warranties made by Borrowers pursuant to the Loan Agreement, including, without limitation, those set forth in Article IV therein, are true and correct in all material respects with regard to the Additional Borrower.

 (e)         No Event of Default, or event which, with notice or lapse of time or
both, could become an Event of Default, has occurred and is continuing under any Loan Document. 

(f)         Additional Borrower has been afforded the opportunity to carefully read
this Agreement, the Loan Agreement, the Notes, the Fee Letter and the Environmental Indemnity (as such documents have been amended), and to review such documents with an attorney of Additional Borrower’s choice before signing this Agreement.
Additional Borrower acknowledges having read and understood the meaning 

  
 3 

 
and effect of this Agreement, the Loan Agreement, the Notes, the Fee Letter, and the Environmental Indemnity before signing this Agreement and understands it shall thereafter be bound by the Loan
Documents and liable for all Obligations owing by Borrowers under the Loan Documents. 

6.        Counterparts; Joint Borrower Provisions. This Joinder Agreement may be executed in
multiple counterparts, each of which shall constitute an original but all of which when taken together shall constitute one and the same instrument. Section 7.19 of the Loan Agreement (the joint borrower provisions) is by this reference hereby
incorporated herein in its entirety. 
 7.        Governing Law. The validity, enforcement,
and interpretation of this Joinder Agreement, shall for all purposes be governed by and construed in accordance with the laws of the State of California and applicable United States federal law, and is intended to be performed in accordance with,
and only to the extent permitted by, such laws. To the maximum extent permitted by applicable law, Additional Borrower hereby waives any right to a trial by jury in any action relating to the Loan and/or the Loan Documents. 

8.        Limited Recourse Provision. Section 7.25 of the Loan Agreement (the
limited recourse provisions) is by this reference hereby incorporated herein in its entirety and KBSIII REIT ACQUISITION XII, LLC shall be deemed to be a specifically referenced entity therein. 

[SIGNATURE PAGES FOLLOW] 

  
 4 

 IN WITNESS WHEREOF, this Joinder Agreement is executed as of the date first above written. 

ADDITIONAL BORROWER: 
  

													
	KBSIII 201 SPEAR STREET, LLC,	  	
	a Delaware limited liability company	  	
			
	By:	  	    KBSIII REIT ACQUISITION XII, LLC,	  	
		  	    a Delaware limited liability company,	  	
		  	    its sole member	  	
				
		  	    By:	  	    KBS REIT PROPERTIES III, LLC,	  	
		  		  	    a Delaware limited liability company,	  	
		  		  	    its sole member	  	
					
		  		  	    By:	  	    KBS LIMITED PARTNERSHIP III,	  	
		  		  		  	    a Delaware limited partnership,	  	
		  		  		  	    its sole member	  	
						
		  		  		  	    By:	  	    KBS REAL ESTATE INVESTMENT TRUST III, INC.,	  	
		  		  		  		  	    a Maryland corporation,	  	
		  		  		  		  	    its general partner	  	
							
		  		  		  		  	    By:	  	 /s/ Charles J. Schreiber, Jr.
	  	
		  		  		  		  		  	Charles J. Schreiber, Jr.,	  	
		  		  		  		  		  	Chief Executive Officer	  	

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 
													
	EXISTING BORROWERS:	  	
		
	 KBSIII DOMAIN GATEWAY, LLC,
 a
Delaware limited liability company
	  	
			
	By:	  	    KBSIII REIT ACQUISITION I, LLC,	  	
		  	    a Delaware limited liability company,	  	
		  	    its sole member	  	
				
		  	    By:	  	    KBS REIT PROPERTIES III, LLC,	  	
		  		  	    a Delaware limited liability company,	  	
		  		  	    its sole member	  	
					
		  		  	    By:	  	    KBS LIMITED PARTNERSHIP III,	  	
		  		  		  	    a Delaware limited partnership,	  	
		  		  		  	    its sole member	  	
						
		  		  		  	    By:	  	     KBS REAL ESTATE INVESTMENT TRUST III,

    INC., a Maryland corporation, its general partner
	  	
							
		  		  		  		  	    By:	  	 /s/ Charles J. Schreiber, Jr.
	  	
		  		  		  		  		  	Charles J. Schreiber, Jr.,	  	
		  		  		  		  		  	Chief Executive Officer	  	

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 
													
	KBSIII LAS CIMAS IV, LLC,	  	
	a Delaware limited liability company	  	
			
	By:	  	    KBSIII REIT ACQUISITION II, LLC,	  	
		  	    a Delaware limited liability company,	  	
		  	    its sole member	  	
				
		  	    By:	  	    KBS REIT PROPERTIES III, LLC,	  	
		  		  	    a Delaware limited liability company,	  	
		  		  	    its sole member	  	
					
		  		  	    By:	  	    KBS LIMITED PARTNERSHIP III,	  	
		  		  		  	    a Delaware limited partnership,	  	
		  		  		  	    its sole member	  	
						
		  		  		  	    By:	  	     KBS REAL ESTATE INVESTMENT TRUST III,

    INC., a Maryland corporation, its general partner
	  	
							
		  		  		  		  	    By:	  	/s/ Charles J. Schreiber, Jr.	  	
		  		  		  		  		  	Charles J. Schreiber, Jr.,	  	
		  		  		  		  		  	Chief Executive Officer	  	

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 
													
	KBSIII 1550 WEST MCEWEN DRIVE, LLC,	  	
	a Delaware limited liability company	  	
			
	By:	  	    KBSIII REIT ACQUISITION IV, LLC,	  	
		  	    a Delaware limited liability company,	  	
		  	    its sole member	  	
				
		  	    By:	  	    KBS REIT PROPERTIES III, LLC,	  	
		  		  	    a Delaware limited liability company,	  	
		  		  	    its sole member	  	
					
		  		  	    By:	  	    KBS LIMITED PARTNERSHIP III,	  	
		  		  		  	    a Delaware limited partnership,	  	
		  		  		  	    its sole member	  	
						
		  		  		  	    By:	  	     KBS REAL ESTATE INVESTMENT TRUST III,

    INC., a Maryland corporation, its general partner
	  	
							
		  		  		  		  	By:	  	/s/ Charles J. Schreiber, Jr.	  	
		  		  		  		  		  	Charles J. Schreiber, Jr.,	  	
		  		  		  		  		  	Chief Executive Officer	  	

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 
													
	KBSIII 155 NORTH 400 WEST, LLC,	  	
	a Delaware limited liability company	  	
			
	By:	  	    KBSIII REIT ACQUISITION V, LLC,	  	
		  	    a Delaware limited liability company,	  	
		  	    its sole member	  	
				
		  	    By:	  	    KBS REIT PROPERTIES III, LLC,	  	
		  		  	    a Delaware limited liability company,	  	
		  		  	    its sole member	  	
					
		  		  	    By:	  	    KBS LIMITED PARTNERSHIP III,	  	
		  		  		  	    a Delaware limited partnership,	  	
		  		  		  	    its sole member	  	
						
		  		  		  	    By:	  	     KBS REAL ESTATE INVESTMENT TRUST III,

    INC., a Maryland corporation, its general partner
	  	
							
		  		  		  		  	    By:	  	/s/ Charles J. Schreiber, Jr.	  	
		  		  		  		  		  	Charles J. Schreiber, Jr.,	  	
		  		  		  		  		  	Chief Executive Officer	  	

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 
													
	KBSIII TOWER AT LAKE CAROLYN, LLC,	  	
	a Delaware limited liability company	  	
			
	By:	  	    KBSIII REIT ACQUISITION VI, LLC,	  	
		  	    a Delaware limited liability company,	  	
		  	    its sole member	  	
				
		  	    By:	  	    KBS REIT PROPERTIES III, LLC,	  	
		  		  	    a Delaware limited liability company,	  	
		  		  	    its sole member	  	
					
		  		  	    By:	  	    KBS LIMITED PARTNERSHIP III,	  	
		  		  		  	    a Delaware limited partnership,	  	
		  		  		  	    its sole member	  	
						
		  		  		  	    By:	  	     KBS REAL ESTATE INVESTMENT TRUST III,

    INC., a Maryland corporation, its general partner
	  	
							
		  		  		  		  	    By:	  	/s/ Charles J. Schreiber, Jr.	  	
		  		  		  		  		  	Charles J. Schreiber, Jr.,	  	
		  		  		  		  		  	Chief Executive Officer	  	

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

 
					
	AGENT:	 	
	
	 U.S. BANK NATIONAL ASSOCIATION,

a national banking association, as Administrative Agent

			
	By:	 	 /s/ Adrian B. Montero
	 	
	Name:	 	 Adrian B. Montero
	 	
	Title:	 	 Senior Vice President
	 	
		
	LENDERS:	 	
	
	 U.S. BANK NATIONAL ASSOCIATION,
 a
national banking association

			
	By:	 	 /s/ Adrian B. Montero
	 	
	Name:	 	 Adrian B. Montero
	 	
	Title:	 	 Senior Vice President
	 	
		
	REGIONS BANK	 	
			
	By:	 	 /s/ Lee Surtees
	 	
	Name:	 	 Lee Surtees
	 	
	Title:	 	 Vice President
	 	
	
	FIFTH THIRD BANK, an Ohio banking corporation
			
	By:	 	 /s/ Matthew Rodgers
	 	
	Name:	 	 Matthew Rodgers
	 	
	Title:	 	 VP
	 	
		
	UNION BANK, N.A.	 	
			
	By:	 	 /s/ Warren H. Li
	 	
	Name:	 	 Warren H. Li
	 	
	Title:	 	 Vice President
	 	

  
 S-2 

 CONSENT OF GUARANTOR: 

KBS REIT PROPERTIES III, LLC, a Delaware limited liability company and KBS REAL ESTATE INVESTMENT TRUST III, INC., a Maryland
corporation (collectively, “Guarantor”), hereby (i) consent to the terms, conditions and provisions of the foregoing Joinder Agreement and the transactions contemplated by such Joinder Agreement, including, without
limitation, the admission of the Additional Borrower as a Borrower under the Loan Agreement and the other Loan Documents, and the assumption of the Obligations by the Additional Borrower, and (ii) reaffirm the full force and effectiveness of
that certain Repayment Guaranty dated as of April 30, 2012, executed by Guarantor in favor of Agent, as it has been amended. 
  

									
	KBS REIT PROPERTIES III, LLC,
 a Delaware limited liability company
	  	
			
	By:	  	    KBS LIMITED PARTNERSHIP III,	  	
		  	    a Delaware limited partnership,	  	
		  	    its sole member	  	
				
		  	    By:	  	    KBS REAL ESTATE INVESTMENT TRUST III, INC.,	  	
		  		  	    a Maryland corporation	  	
		  		  	    its general partner	  	
					
		  		  	    By:	  	/s/ Charles J. Schreiber, Jr.	  	
		  		  		  	Charles J. Schreiber, Jr.,	  	
		  		  		  	Chief Executive Officer	  	

 KBS REAL ESTATE INVESTMENT TRUST III, INC., 

			
	a Maryland corporation
		
	By:	  	 /s/ Charles J. Schreiber, Jr.

		  	Charles J. Schreiber, Jr.,
		  	Chief Executive Officer

  
 S-3 

 EXHIBIT A 

Legal Description of Additional Property (Spear Street) 

That certain real property located in the City of San Francisco, County of San Francisco, State of California and more particularly described as follows: 

Parcel One: 
 Beginning at a point on the Southeasterly line of Howard Street,
distant thereon South 45° 07’ 55” West, 156.083 feet from the point of intersection of the Southeasterly line of Steuart Street and the Southeasterly line of Howard Street; running thence South 45° 07’ 55” West, 118.917
feet to the Northeasterly line of Spear Street, thence along said line of Spear Street, South 44° 52’ 05” East, 292.278 feet; thence from a tangent that bears North 21° 24’ 41” West along a curve to the left with a radius
of 958 feet, central angle of 17° 39’ 17”, an arc distance of 295.191 feet; thence South 45° 07’ 55” West 128.941 feet; thence North 44° 52’ 05” East, 134.03 feet to the point of beginning. 

A portion of said description also being Lot No. 30, as shown on Parcel Map recorded December 23, 1981 in Book 22 of Parcel Maps, at Page 61, in the office of
the County Recorder of the City and County of San Francisco, California. 
 Parcel Two: 

Easements of ground level only for vehicular and pedestrian access in and to Steuart Street, as set forth in that certain Grant Deed recorded in Book 6714 Page 524, of
Official Records of the City and County of San Francisco, and excepting therefrom that portion of said easement lying northwesterly of a line described in that certain Quitclaim Deed recorded in Book D538 Page 1661, of Official Records of the City
and County of San Francisco. 
 Parcel Three: 
 An easement of ground level only
for vehicular and pedestrian access in and to Steuart Street, as set forth in that certain Director’s Deed recorded in Book D538 Page 1666 of Official Records of the City and County of San Francisco. 

(End of Legal Description) 

  
 A-1 

 EXHIBIT B 

Description of KBS Spear Street Improvements 

The KBS Spear Street Improvements include an 18 story office building containing approximately 246,000 rentable square feet. 

  
 B-1

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