Document:

EX-10.1

 Exhibit 10.1 

Portions of this document have been redacted pursuant to a Request for Confidential Treatment filed with the Securities and Exchange
Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

PENSION PLAN PROTECTION AND FORBEARANCE AGREEMENT 

By and Between 
 SEARS
HOLDINGS CORPORATION, 
 SRC DEPOSITOR CORPORATION, 

SRC O.P. CORPORATION, 

SRC REAL ESTATE (TX), LP, 

SRC REAL ESTATE HOLDINGS (TX), LLC, 

SRC FACILITIES STATUTORY TRUST NO. 2003-A, 

SEARS, ROEBUCK AND CO. 

KCD IP, LLC, and 
 SEARS
BRANDS, LLC, 
 as SEARS PARTIES 

and 
 PENSION BENEFIT
GUARANTY CORPORATION 
 Dated MARCH 18, 2016 

 TABLE OF CONTENTS 

 

							
	 RECITALS
	  	 	1	  
		
	 ARTICLE I. DEFINITIONS AND CONSTRUCTION
	  	 	2	  
			
	 1.01.
	  	Defined Terms	  	 	2	  
			
	 1.02.
	  	Other Definitional and Interpretive Matters	  	 	10	  
		
	 ARTICLE II. REPRESENTATIONS AND WARRANTIES OF THE SEARS PARTIES
	  	 	10	  
			
	 2.01.
	  	General	  	 	10	  
			
	 2.02.
	  	Existence, Power, and Execution	  	 	11	  
			
	 2.03.
	  	REMIC Securitization	  	 	15	  
			
	 2.04.
	  	REMIC Organizational Documents	  	 	16	  
			
	 (a)
	  	    Representations and Warranties	  	 	16	  
			
	 2.05.
	  	IP Securitization	  	 	17	  
			
	 2.06.
	  	IP Organizational Documents	  	 	18	  
			
	 (a)
	  	    Representations and Warranties	  	 	18	  
		
	 ARTICLE III. PLAN PROTECTION TRANSACTION: REMIC ASSETS
	  	 	19	  
			
	 3.01.
	  	Maintenance of REMIC Structure	  	 	19	  
			
	 3.02.
	  	Delivery of Additional Regular Interest REMIC Certificates	  	 	19	  
			
	 3.03.
	  	Independent Directors’ Insurance Coverage and Compensation; Covenants Regarding Replacement; Voting	  	 	19	  
			
	 3.04.
	  	REMIC Covenants	  	 	20	  
			
	 3.05.
	  	REMIC Covenant Carve-outs	  	 	21	  
			
	 (a)
	  	    RE Subsidiaries Permitted Transfers	  	 	21	  
			
	 (b)
	  	    Parties to REMIC Transactional Documents	  	 	21	  
			
	 (c)
	  	    Permitted Operation of Master Lease	  	 	22	  
			
	 (d)
	  	    [Intentionally Omitted.]	  	 	22	  
			
	 (e)
	  	    [Intentionally Omitted.]	  	 	22	  
			
	 (f)
	  	    Payments Under REMIC Certificates	  	 	22	  
			
	 (g)
	  	    REMIC Cash Circulation	  	 	22	  
			
	 (h)
	  	    Liens	  	 	23	  
			
	 3.06.
	  	Additional REMIC Covenants	  	 	23	  
			
	 3.07.
	  	Transaction Documents Control	  	 	23	  
			
	 3.08.
	  	Sears Re Claims	  	 	24	  
			
	 3.09.
	  	Discovery of Prohibited Sears Re Obligation	  	 	24	  
		
	 ARTICLE IV. PLAN PROTECTION TRANSACTION: IP ASSETS
	  	 	24	  
			
	 4.01.
	  	Covenants Regarding Replacement	  	 	24	  
			
	 4.02.
	  	Limitations Upon Voting	  	 	24	  
			
	 4.03.
	  	Insurance Coverage	  	 	25	  

  
 AGREEMENT – Page
i  

							
	 4.04.
	  	IP Covenants	  	 	25	  
			
	 4.05.
	  	IP Covenant Carve-outs	  	 	27	  
		
	 ARTICLE V. ENFORCEMENT
	  	 	28	  
			
	 5.01.
	  	Specific Performance	  	 	28	  
			
	 5.02.
	  	Violative Actions Void Ab Initio	  	 	29	  
			
	 5.03.
	  	Additional Contribution	  	 	29	  
			
	 5.04.
	  	Additional Contribution Liability	  	 	29	  
			
	 5.05.
	  	Non-Exclusivity of Additional Contribution Liability	  	 	30	  
			
	 5.06.
	  	Prefunding Balance Limitation	  	 	30	  
		
	 ARTICLE VI. SPRINGING LIEN
	  	 	30	  
			
	 6.01.
	  	Springing Lien Events	  	 	30	  
			
	 6.02.
	  	Springing Lien	  	 	31	  
			
	 6.03.
	  	IP Springing Lien Conditions	  	 	31	  
			
	 6.04.
	  	Secured Obligations	  	 	32	  
			
	 6.05.
	  	Acknowledgement of Joint and Several Liability	  	 	32	  
			
	 6.06.
	  	Reservation of Rights Regarding UBL Determination	  	 	32	  
			
	 6.07.
	  	Perfection of Security Interests	  	 	32	  
			
	 (a)
	  	    Escrow Arrangements	  	 	32	  
			
	 (b)
	  	    REMIC Certificates	  	 	32	  
			
	 (c)
	  	    IP Assets	  	 	32	  
			
	 (d)
	  	    Real Property	  	 	33	  
			
	 (e)
	  	    Authority to File	  	 	33	  
			
	 (f)
	  	    Custodian Funds; Custodian Fees and Expenses	  	 	33	  
			
	 6.08.
	  	Rights of Foreclosure	  	 	33	  
			
	 (a)
	  	    When PBGC May Foreclose	  	 	33	  
			
	 (b)
	  	    Contingent UBL Claims	  	 	34	  
			
	 6.09.
	  	ERISA Lien	  	 	34	  
			
	 6.10.
	  	Non-Exclusivity of Rights and Remedies	  	 	34	  
			
	 6.11.
	  	Credit Facility	  	 	35	  
			
	 6.12.
	  	Termination of Springing Lien	  	 	35	  
		
	 ARTICLE VII. PBGC COMMITMENT
	  	 	35	  
			
	 7.01.
	  	[Intentionally Omitted.]	  	 	35	  
			
	 7.02.
	  	Forbearance	  	 	35	  
			
	 7.03.
	  	Forbearance Inapplicable to Compulsory Involuntary Termination	  	 	35	  
			
	 7.04.
	  	Forbearance Termination	  	 	35	  
			
	 7.05.
	  	UBL Documentation	  	 	35	  
			
	 7.06.
	  	Forbearance-Related Definitions	  	 	36	  
			
	 (a)
	  	    Forbearance Termination Event	  	 	36	  

  
 AGREEMENT – Page
ii  

							
	 (b)
	  	    Material Transaction	  	 	36	  
			
	 (c)
	  	    Material Transaction Carve-Out	  	 	37	  
			
	 (d)
	  	    Material Transaction Cap Calculations	  	 	37	  
			
	 (e)
	  	    “Material” for this Agreement Only	  	 	38	  
			
	 (f)
	  	    Company’s Market Capitalization	  	 	38	  
			
	 (g)
	  	    Average Quoted Price	  	 	39	  
		
	 ARTICLE VIII. TERMINATION OF AGREEMENT
	  	 	39	  
			
	 8.01.
	  	Termination	  	 	39	  
			
	 (a)
	  	    Achievement of 85% Funding	  	 	39	  
			
	 (b)
	  	    Passage of Time	  	 	39	  
			
	 (c)
	  	    Standard Termination of Pension Plan	  	 	39	  
		
	 ARTICLE IX. CLOSING
	  	 	40	  
			
	 9.01.
	  	Closing Date	  	 	40	  
			
	 9.02.
	  	Conditions to Closing	  	 	40	  
		
	 ARTICLE X. POST-CLOSING MONITORING
	  	 	42	  
			
	 10.01.
	  	Company Notification Requirements	  	 	42	  
			
	 10.02.
	  	Noncompliance Notice	  	 	44	  
		
	 ARTICLE XI. MISCELLANEOUS
	  	 	44	  
			
	 11.01.
	  	Notices	  	 	44	  
			
	 11.02.
	  	Governing Law, Jurisdiction and Venue	  	 	45	  
			
	 11.03.
	  	Currency	  	 	45	  
			
	 11.04.
	  	Waiver of Jury Trial	  	 	45	  
			
	 11.05.
	  	Captions	  	 	45	  
			
	 11.06.
	  	Entire Agreement; Amendments and Waivers	  	 	45	  
			
	 11.07.
	  	No Waiver of Breach	  	 	46	  
			
	 11.08.
	  	Severability, Substantive Error	  	 	46	  
			
	 11.09.
	  	Further Assurances	  	 	46	  
			
	 11.10.
	  	Multiple and Electronic Counterparts	  	 	46	  
			
	 11.11.
	  	Time of the Essence	  	 	46	  
			
	 11.12.
	  	Public Disclosure	  	 	47	  
			
	 11.13.
	  	U.S. Bank Trust Association	  	 	47	  

  
 AGREEMENT – Page
iii  

 EXHIBITS 
  

			
	 EXHIBITS
	  	Attached hereto and fully incorporated herein.
		
	 Exhibit 1
	  	All Direct and Indirect Subsidiaries of the Company
		
	 Exhibit 2
	  	Underlying Documents and Changes Thereto
		
	 Exhibit 3-A
	  	Sears Ownership Chart Relating to the Depositor and the RE Subsidiaries
		
	 Exhibit 3-B
	  	Certain Information Relating to the Depositor
		
	 Exhibit 4
	  	All Holders of REMIC Certificates
		
	 Exhibit 5
	  	All Sales, Substitutions, or Transfers of Any REMIC Properties Out of the REMIC Structure From and After October 1, 2014 Until Closing
		
	 Exhibit 6
	  	REMIC Existing Liens
		
	 Exhibit 7
	  	REMIC Properties
		
	 Exhibit 8
	  	All Sales, Substitutions, or Transfers of Any IP Assets Out of the IP Subsidiary From and After October 1, 2014 Until Closing
		
	 Exhibit 9
	  	IP Existing Liens
		
	 Exhibit 10-A
	  	Certain Information Relating to the IP Subsidiary
		
	 Exhibit 10-B
	  	IP Assets
		
	 Exhibit 11
	  	Escrow Arrangements (including Powers of Attorney)
		
	 Exhibit 12
	  	PBGC RE Perfection Documents
		
	 Exhibit 13
	  	PBGC Mortgages with Executed Signature Pages
		
	 Exhibit 14
	  	Corporate Opinions
		
	 Exhibit 15
	  	 RE Bring-Down Opinion (together with REMIC 2003 Bankruptcy Opinion)

IP Bring-Down Opinion (together with IP 2006 Bankruptcy Opinion)

		
	 Exhibit 16
	  	Amended RE Organizational Documents
		
	 Exhibit 17
	  	 Independent Director and Manager Lists

Schedule of Compensation & Benefits for Current Directors and Managers

		
	 Exhibit 18
	  	Custodian
		
	 Exhibit 19
	  	Approved Appraisers
		
	 Exhibit 20
	  	PBGC IP Perfection Documents
		
	 Exhibit 21
	  	Subordination Agreement
		
	 Exhibit 22
	  	Issuer Order
		
	 Exhibit 23
	  	Agreements Limiting IP Independent Manager’s & Independent Directors’ Voting Authority

  
 AGREEMENT – Page
iv  

			
		
	 Exhibit 24
	  	REMIC Transactional Document Waivers
		
	 Exhibit 25
	  	Specified Organizational Document Provisions
		
	 Exhibit 26
	  	Press Release
		
	 Exhibit 27
	  	Mortgage Loan Exceptions
		
	 Exhibit 28
	  	Acknowledgment of Liability
		
	 Exhibit 29
	  	Sears Re Instruction Letter

  
 AGREEMENT – Page
v  

 PENSION PLAN PROTECTION AND FORBEARANCE AGREEMENT 

THIS PENSION PLAN PROTECTION AND FORBEARANCE AGREEMENT (together with the Exhibits, which are fully-incorporated herein, the
“Agreement”) is made and entered into the 18th day of March, 2016, by and between Sears Holdings Corporation, a Delaware corporation (the “Company”), SRC Depositor Corporation, a Delaware corporation (the
“Depositor”), SRC O.P. Corporation, a Delaware corporation (“SRC O.P.”), SRC Real Estate (TX), LP, a Delaware limited partnership (“SRC R.E.”), SRC Real Estate Holdings (TX), LLC, a Delaware limited
liability company (“SRC Holdings”), SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust (“SRC Trust”), Sears, Roebuck and Co., a New York corporation (the “Lessee”), KCD IP, LLC, a
Delaware limited liability company (the “IP Subsidiary”), Sears Brands, LLC, an Illinois limited liability company (the “Member”, and all of the foregoing, collectively, the “Sears Parties”); and
the Pension Benefit Guaranty Corporation (“PBGC”). The Sears Parties and PBGC are sometimes referred to herein collectively as the “Parties,” and individually as a “Party.” 

RECITALS 
 PBGC is a
wholly owned United States government corporation established under 29 U.S.C. § 1302 to administer the pension plan termination insurance program created under Title IV of the Employee Retirement Income Security Act of 1974, 29 U.S.C.
§§ 1301 – 1461 (2012 & Supp. II 2014) (as amended from time to time, together with the regulations thereunder, “ERISA”). 

The Company is the plan sponsor, as such term is defined in ERISA Section 3(16)(B), of the Sears Holdings Pension Plan, as amended and
restated effective January 1, 2014 (the “Pension Plan”). 
 The Company is the ultimate corporate parent company of the
Subsidiaries, including the other Sears Parties. 
 Each Subsidiary is a member of the Company’s “controlled group” (each
Sears Party and any and all other such members, collectively the “Controlled Group”), as that term is defined in ERISA Section 4001(a)(14). 

The Sears Parties have offered to provide PBGC and the Pension Plan with certain enhanced protections in exchange for PBGC’s agreement to
forbear from initiating termination proceedings with respect to the Pension Plan pursuant to ERISA Section 4042 for the term and under the conditions provided herein. 

The Parties, with the assistance of their respective advisors and counsel, have exchanged certain information and engaged in good-faith,
arms’-length negotiations. 
 As a result of such negotiations, on September 4, 2015, PBGC and the Company entered into that certain
Summary of Proposed Terms Regarding the Pension Plan Protection and Forbearance Agreement Between PBGC and Sears (as amended, supplemented or otherwise modified from time to time, the “Term Sheet”), the terms of which are
memorialized in this Agreement. 

  
 AGREEMENT – Page
1 

 NOW, THEREFORE, for and in consideration of the premises and of the mutual agreements, provisions
and covenants herein contained, and the mutual benefits to be derived therefrom, the Parties do hereby covenant and agree as follows: 

ARTICLE I 
 DEFINITIONS
AND CONSTRUCTION 
 1.01. Defined Terms. Each capitalized term used herein shall have the meaning ascribed to it
in this Article I unless such term is defined elsewhere in this Agreement. 
 “Action” shall have the meaning given to it
in Section 11.02. 
 “Actuarial Valuation Report” means a report for a plan year containing all of the information
described in 29 C.F.R. § 4010.8(a)(11)(i) through (xii). 
 “Additional Contribution” shall have the meaning given to
it in Section 5.03.  
 “Agreement” has the meaning given to it in the introductory paragraph. 

“Affiliate” means, with respect to a specified Person, another Person that directly or indirectly Controls or is Controlled
by or is under common Control with the Person specified. 
 “Amended RE Organizational Documents” shall have the meaning
given to it in Section 9.02(f). 
 “Approved Appraisers” means the appraisers set forth on Exhibit 19.

 “Average Quoted Price” shall have the meaning given to it in Section 7.06(g). 

“Audit Period” means the period beginning on the date on which PBGC receives a Form 501 Post-Distribution Certification for
the Pension Plan indicating that the Pension Plan has terminated in a standard termination under ERISA Section 4041(b) and ending on the later of (a) the 180th day after such receipt, and (b) if PBGC has, by such 180th day, issued audit findings or
a notice of noncompliance with respect to such standard termination, the date on which such audit findings have been complied with or rescinded or on which such notice of noncompliance has been rescinded. 

“Bankruptcy Code” means Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq., as amended from time to time.

 “Breaching Action” shall have the meaning given to it in Section 5.04.  

“Business Day” means any day other than Saturday, Sunday, a federal holiday or other day on which PBGC is closed. 

“Closing” shall have the meaning given to it in Section 9.01. 

“Closing Conditions” shall have the meaning given to it in Section 9.02. 

  
 AGREEMENT – Page
2 

 “Closing Date” shall have the meaning given to it in Section 9.01.
 
 “Closing Date Values” shall have the meaning given to it in Section 3.05(a)(3). 

“Company” shall have the meaning given to it in the introductory paragraph. 

“Company’s Market Capitalization” shall have the meaning given to it in Section 7.06(f). 

“Controlled” or “Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. 

“Controlled Group” shall have the meaning given to it in the recitals. 

“Credit Facility” means that certain Third Amended and Restated Credit Agreement, dated as of July 21, 2015, among Sears
Holdings Corporation, Sears Roebuck Acceptance Corp. and Kmart Corporation, as borrowers, the lenders from time to time party thereto, the issuing lenders from time to time party thereto, Bank Of America, N.A., as administrative agent, co-collateral
agent and swingline lender, Wells Fargo Bank, National Association and General Electric Capital Corporation, as co-collateral agents and co-syndication agents, PNC Bank, National Association, Siemens Financial Services, Inc., Ally Bank and CitiGroup
Global Markets Inc. as co-documentation agents, Merrill Lynch, Pierce, Fenner & Smith Inc., Wells Fargo Bank, National Associations. and GE Capital Markets, Inc., as joint lead arrangers, and Merrill Lynch, Pierce, Fenner & Smith Inc., Well
Fargo Bank, National Association, GE Capital Markets, Inc., PNC Bank, National Association and CitiGroup Global Markets, Inc., as joint bookrunners, together with all related agreements, in each case as amended, supplemented, otherwise modified,
refinanced or replaced from time to time. 
 “CSC” means Corporation Service Company. 

“CSC Service Agreement” means any agreement between a Sears Party and CSC in the forms attached hereto as Exhibit
23. 
 “Custodian” means the entity specified in Exhibit 18 (together with its successors and assigns
permitted under the terms of the Escrow Arrangements). 
 “Deposit” shall have the meaning given to it in Section
9.02(n). 
 “Depositor” shall have the meaning given to it in the introductory paragraph. 

“Depositor Independent Director” shall have the meaning given to it in Section 9.02(e)(1). 

“Designated Assets” shall have the meaning given to it in Section 6.02. 

“Distribute” or “Distribution” means to fund any dividend, equity repurchase, intercompany loan or capital
contribution. 

  
 AGREEMENT – Page
3 

 “ERISA” shall have the meaning given to it in the recitals. 

“ERISA Lien” shall have the meaning given to it in Section 6.09. 

“Escrow Arrangements” shall have the meaning given to it in Section 9.02(b). 

“Exhibits” means the exhibits listed on Pages iv and v of this Agreement. 

“Final and Non-Appealable Order” means an order or judgment entered by a court of competent jurisdiction: (a) that has not
been reversed, stayed, modified, amended, revoked, varied or set aside, and as to which (i) any right to appeal or seek certiorari, review, reargument, stay or rehearing has been waived, or (ii) the time to appeal or seek certiorari, review,
reargument, stay or rehearing has expired and no appeal or petition for certiorari, review, reargument, stay or rehearing is pending; or (b) as to which an appeal has been taken or petition for certiorari, review, reargument, stay or rehearing has
been filed, and (i) such appeal or petition for certiorari, review, reargument, stay or rehearing has been resolved by the highest court to which the order or judgment was appealed or from which certiorari, review, reargument, stay or rehearing was
sought, and (ii) the time to appeal further or seek certiorari, review, reargument, stay or rehearing has been waived or expired and no such further appeal or petition for certiorari, review, reargument, stay or rehearing is pending, provided,
however, that no order or judgment will fail to be a “Final and Non-Appealable Order” hereunder solely because of the possibility that a motion pursuant to Section 502(j) or 1144 of the Bankruptcy Code, Rule 59 or 60 of the Federal Rules
of Civil Procedure or Rule 9024 of the Federal Rules of Bankruptcy Procedure may be filed with respect to such order or judgment. 

“Final Injunction Order” shall have the meaning given to it in Section 5.04(c). 

“Forbearance” and “Forbear” shall each have the meaning given to it in Section 7.02. 

“Forbearance Termination Event” shall have the meaning given to it in Section 7.06(a). 

“Foreclose” and “Foreclosure” shall have the meanings given to them in Section 6.08(a). 

“Holder” shall have the meaning given to it in Section 2.03(d).  

“Impaired REMIC Property” shall have the meaning given to it in Section 2.03(k). 

“Impaired REMIC Property Value” shall have the meaning given to it in Section 2.03(k). 

“Indebtedness” means, with respect to any Person, (a) all Primary Indebtedness and (b) all Third Party Indebtedness. 

“Indenture Amendment Covenant” shall have the meaning given to it in Section 4.04(a)(2). 

“Independent Directors” means the Depositor Independent Director and the SRC O.P. Independent Director. 

  
 AGREEMENT – Page
4 

 “Involuntary Bankruptcy Event” means commencement of an involuntary bankruptcy
case or similar proceeding (including without limitation appointment of a receiver or other custodian or required winding up or liquidation) with respect to the Company or any of its Material Subsidiaries that is not dismissed or vacated within 60
days after commencement thereof. 
 “IP 2006 Bankruptcy Opinion” means the 22-page legal opinion letter issued by IP
Subsidiary Counsel on May 18, 2006 in connection with the IP Notes transaction. 
 “IP Assets” means all of the IP
Subsidiary’s (i) trademarks and intellectual property licenses (including those related to Kenmore, Craftsman and Diehard and those identified on Exhibit 10-B hereto), and (ii) rights under ancillary agreements to which it is party, all
of the foregoing under clauses (i) and (ii) whether currently owned or after-acquired. 
 “IP Bring-Down Opinion” shall
have the meaning given to it in Section 9.02(k). 
 “IP Existing Liens” shall have the meaning given to it in
Section 4.05(b)(6). 
 “IP Independent Manager” shall have the meaning given to it in Section 9.02(j)(1).

 “IP Note Liens” means the liens on the IP Assets and the proceeds thereof that secure the IP Notes. 

“IP Notes” means the KCD IP, LLC Asset-Backed Notes issued by the IP Subsidiary in the aggregate face amount of
$1,800,000,000, which are secured by the IP Note Liens. 
 “IP Notes Indenture” means that certain Indenture dated as of
May 18, 2006, between IP Subsidiary and U.S. Bank National Association, which governs the IP Notes (such indenture, as amended, supplemented or otherwise modified, but only to the extent such amendments, supplements or other modifications (i) occur
prior to the Closing Date and are disclosed in writing to PBGC prior to the Closing Date or (ii) are permitted by the Indenture Amendment Covenant). 

“IP Springing Lien Conditions” shall have the meaning given to it in Section 6.03. 

“IP Subsidiary” shall have the meaning given to it in the introductory paragraph. 

“IP Subsidiary Counsel” means Mayer Brown LLP, formerly known as Mayer, Brown, Rowe & Maw LLP. 

“IP Subsidiary Operating Agreement” means the Limited Liability Company Operating Agreement of the IP Subsidiary, dated as of
May 18, 2006. 
 “Lessee” shall have the meaning given to it in the introductory paragraph. 

“Limited License” means the limited license of intellectual property granted in connection with the Credit Facility, the
Secured Notes or other secured Indebtedness to the lenders thereunder, the holders thereof and/or any applicable collateral agents thereunder of a customary kind and nature in order to facilitate a liquidation of their collateral. 

  
 AGREEMENT – Page
5 

 “Management Agreement” means that certain Management Agreement attached hereto
at Exhibit 23 and executed on the Closing Date. 
 “Master Lease” means that certain Master Lease Agreement,
dated as of November 24, 2003, between SRC Trust, SRC O.P. and SRC R.E. as lessors, and Lessee (as amended, supplemented or otherwise modified, but only to the extent such amendments, supplements or other modifications (i) occur prior to the Closing
Date and are disclosed in writing to PBGC prior to the Closing Date or (ii) are permitted by the REMIC Amendment Covenant). 

“Master Lease Amendment” means that certain First Amendment to the Master Lease Agreement attached hereto at Exhibit
2 and executed on the Closing Date. 
 “Material Subsidiary” means any direct or indirect Subsidiary (i) for which
the Company’s share (determined on a pro rata basis by reference to the portion of the equity of such Subsidiary held directly or indirectly by the Company) of the assets of such Subsidiary and its direct and indirect Subsidiaries, taken as a
consolidated whole, constitutes more than 5% of the assets of the Company and its direct and indirect Subsidiaries, taken as a consolidated whole, (ii) which is the Depositor, a RE Subsidiary, the IP Subsidiary or Sears Re or (iii) which is a direct
or indirect parent of the Depositor, a RE Subsidiary, the IP Subsidiary or Sears Re. 
 “Material Transaction” shall have
the meaning given to it in Section 7.06(b). 
 “Member” shall have the meaning given to it in the introductory
paragraph. 
 “Mortgage Loans” shall have the meaning given to in Section 2.03(b).  

“Noncompliance Notice” shall have the meaning given to it in Section 10.02. 

“Ordinary Course of Business” means the usual transactions, customs and practices of the Company or its relevant Subsidiary,
as applicable, of a kind, amount, and nature as common before the Closing Date. 
 “Other Company Subsidiaries” means all
direct and indirect Subsidiaries of the Company other than the Depositor, the RE Subsidiaries, the IP Subsidiary, the Lessee and the Member. 

“Parties” or “Party” shall have the meaning given it in the introductory paragraph. 

“PBGC” shall have the meaning given to it in the introductory paragraph. 

“PBGC Demand Letter” shall have the meaning given to it in Section 6.08(a)(2). 

“PBGC IP Perfection Documents” shall have the meaning given to it in Section 9.02(h). 

“PBGC Mortgages” shall have the meaning given to it in Section 9.02(d). 

“PBGC Perfection Documents” shall have the meaning given to it in Section 6.07(e). 

  
 AGREEMENT – Page
6 

 “PBGC RE Perfection Documents” shall have the meaning given to it in Section
9.02(c). 
 “PBGC UBL Claims” shall have the meaning given to it in Section 6.04. 

“Pension Plan” shall have the meaning given to it in the recitals. 

“Person” means an individual, group, partnership, limited partnership, limited liability company, corporation, trust
(including any statutory trust), governmental unit or other entity. 
 “Plan Administrator” shall have the meaning given to
it in Section 6.01(d). 
 “Pledge” means to pledge, hypothecate, or grant a lien, security interest or other
financial encumbrance, or to permit to exist any such lien, security interest or other financial encumbrance. 
 “Pooling and
Servicing Agreement” means that certain Pooling and Servicing Agreement, dated as of November 24, 2003, among the Depositor, the Lessee, as document custodian, master servicer and special servicer, and Wells Fargo Bank Minnesota, N.A., as
trustee (as amended, supplemented or otherwise modified, but only to the extent such amendments, supplements or other modifications (a) occur prior to the Closing Date and are disclosed to PBGC in writing prior to the Closing Date or (b) are
permitted by the REMIC Amendment Covenant). 
 “Primary Indebtedness” means, with respect to any Person, (a) all
obligations for borrowed money, (b) all obligations evidenced by bonds, debentures, notes or similar instruments, (c) all capital lease obligations and all synthetic lease obligations, (d) all obligations, contingent or otherwise, of such Person as
an account party in respect of financial guarantees, letters of credit, letters of guarantee, surety bonds and other similar instruments, and (e) all attributable indebtedness arising under sale lease-back transactions. 

“Prohibited Sears Re Obligation” shall have the meaning given to it in Section 2.02(k). 

“RE Bring-Down Opinion” shall have the meaning given to it in Section 9.02(g). 

“RE Subsidiaries” means SRC O.P., SRC R.E., SRC Trust, and SRC Holdings. 

“RE Subsidiaries Permitted Transfers” shall have the meaning given to it in Section 3.05(a)(5). 

“REIT Transaction” means the transactions described in the Registration Statement on Form S-11 filed with the Securities and
Exchange Commission by Seritage Growth Properties and declared effective on June 9, 2015, and any transactions related thereto. 

“REMIC” means a “real estate mortgage investment conduit” within the meaning of 26 U.S.C. § 860D. 

“REMIC 2003 Bankruptcy Opinion” means the 66-page legal opinion letter issued by REMIC Counsel on November 24, 2003 in
connection with the REMIC Transaction. 

  
 AGREEMENT – Page
7 

 “REMIC Amendment Covenant” shall have the meaning given to it in Section
3.04(e). 
 “REMIC Certificates” means the SRC Commercial Mortgage Trust 2003-1 Mortgage Pass-Through Certificates
in the aggregate face amount of $1,312,416,000 (as amended, supplemented or otherwise modified, but only to the extent such amendments, supplements or other modifications (a) occur prior to the Closing Date and are disclosed in writing to PBGC prior
to the Closing Date or (b) are permitted by the REMIC Amendment Covenant) backed by the Mortgage Loans pursuant to the Pooling and Servicing Agreement. 

“REMIC Counsel” means Mayer Brown LLP, formerly known as Mayer, Brown, Rowe & Maw LLP. 

“REMIC Existing Liens” shall have the meaning given to it in Section 3.05(h)(2). 

“REMIC Issuer” means SRC Commercial Mortgage Trust 2003-1. 

“REMIC Mortgages” shall have the meaning given to it in Section 2.03(b). 

“REMIC Properties” shall have the meaning given to it in Section 2.03(b). 

“REMIC Structure” means the RE Subsidiaries established and maintained in accordance with the REMIC Transactional Documents
to effectuate and preserve the REMIC Transaction. 
 “REMIC Transaction” means the transactions contemplated and
effectuated by the REMIC Transactional Documents, which resulted in, inter alia, the securitization and issuance of the REMIC Certificates. 

“REMIC Transactional Documents” means the REMIC Certificates, the agreements underlying the Mortgage Loans, the Master Lease,
the Site Leases (as defined in the Master Lease), the Pooling and Servicing Agreement, and the agreements and other documents related thereto (each, as amended, supplemented or otherwise modified, but only to the extent such amendments, supplements
or other modifications (i) occur prior to the Closing Date and are disclosed to PBGC in writing prior to the Closing Date or (ii) are permitted by the REMIC Amendment Covenant). 

“Sears Parties” shall have the meaning given to it in the introductory paragraph. 

“Sears Re” means Sears Reinsurance Company, Ltd., a Bermuda Class 3 insurer. 

“Sears Re Instruction Letter” shall have the meaning give to it in Section 9.02(i). 

“Secured Notes” means the 6 5/8% Senior Secured Notes due 2018 issued by the Company pursuant to that certain Indenture,
dated as of October 12, 2010, among the Company, the guarantors party thereto and Wells Fargo Bank, National Association, as trustee and collateral agent, together with all related agreements, in each case as amended, supplemented, otherwise
modified, refinanced or replaced from time to time. 
 “Secured Obligations” shall have the meaning given to it in Section
6.04. 

  
 AGREEMENT – Page
8 

 “Specified Shareholders” means ESL Investments, Inc., Fairholme Capital
Management, LLC and their respective Affiliates and managed funds, together with the Company’s officers and directors as of the date of determination (and, if different, those officers and directors within the prior 6 months as well). 

“Springing Lien” shall have the meaning given to it in Section 6.02. 

“Springing Lien Event” shall have the meaning given to it in Section 6.01. 

“SRC Holdings” shall have the meaning given to it in the introductory paragraph. 

“SRC R.E.” shall have the meaning given to it in the introductory paragraph. 

“SRC O.P.” shall have the meaning given to it in the introductory paragraph. 

“SRC O.P. Independent Director” shall have the meaning given to it in Section 9.02(e)(1). 

“SRC Trust” shall have the meaning given to it in the introductory paragraph. 

“Subordination Agreement” shall have the meaning given to it in Section 9.02(m). 

“Subsidiary” shall mean each Person in the Controlled Group (except the Company), including all of the Company’s direct
and indirect subsidiaries listed on Exhibit 1 attached hereto. 
 “Termination Basis” means the assets and
liabilities of the Pension Plan are valued pursuant to ERISA Section 4044 as of a specified actual or assumed termination date. 

“Third Party Indebtedness” means, with respect to any Person, (a) all Primary Indebtedness of any other Person secured by any
lien on property owned by the reference Person, whether or not the Indebtedness secured thereby has been assumed by the reference Person, and (b) all guarantees by the reference Person of Primary Indebtedness of any other Person. 

“Transaction Documents” means this Agreement and all other agreements, instruments and documents related hereto, each as
amended, supplemented, or otherwise modified from time to time. 
 “Transfer” means to sell, transfer, or otherwise
dispose. 
 “UBL” shall have the meaning given to it in Section 6.04. 

“UBL Documentation” shall mean PBGC’s supporting documentation relating to its determination of, estimate of, or other
calculations relating to the UBL of the Pension Plan (including, but not limited to, its Pension Information Profile relating thereto in locked Excel format). 

“Underlying Documents” shall have the meaning given to it in Section 2.01(b). 

  
 AGREEMENT – Page
9 

 “Voluntary Bankruptcy Event” means voluntary commencement (or consent to,
including, without limitation, by failure to timely defend against, either involuntary commencement or entry of an order for relief in an involuntary case) of a bankruptcy case or similar proceeding (including, without limitation, appointment of a
receiver or other custodian or general assignment for the benefit of creditors) with respect to the Company or any of its Material Subsidiaries. 

1.02. Other Definitional and Interpretive Matters. 

(a) Unless otherwise expressly provided, for purposes of this Agreement, the following rules of interpretation shall apply: 

Exhibits. The Exhibits to this Agreement are hereby incorporated and made a part hereof and are an integral part of this Agreement. Any
references to the “Agreement” herein shall include the Exhibits hereto. Each capitalized term used in any Exhibit but not otherwise defined therein has the meaning ascribed thereto in this Agreement. 

Herein. The words such as “herein,” “hereinafter,” “hereof,” “hereto” and “hereunder”
refer to this Agreement as a whole and not merely to a subdivision in which such words appear unless the context otherwise requires. 

Including. The word “including” or any variation thereof means (unless the context of its usage requires otherwise)
“including, but not limited to,” and shall not be construed to limit any general statement that it follows to the specific or similar items or matters immediately following it. 

Singular/Plural. Unless specifically otherwise provided herein or the context otherwise requires, the singular includes the plural
and the plural the singular. 
 (b) The Parties have participated jointly and collectively in the negotiation and drafting of this Agreement
and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly and collectively drafted by the Parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any
Party by virtue of the authorship of any provision of this Agreement. 
 ARTICLE II 

REPRESENTATIONS AND WARRANTIES OF THE SEARS PARTIES 

2.01. General. 

(a) The Company represents and warrants to PBGC that, as of the Closing Date, (i) Exhibit 1 contains a full, complete, and
accurate list of all of the Company’s Subsidiaries, and (ii) except for the Company and such Subsidiaries, there are no other members of the Company’s Controlled Group. 

(b) The Company represents and warrants to PBGC that, as of the Closing Date, the Company has provided PBGC with the most recent and complete
version of any and all agreements, indentures, appraisals, leases, articles, governance documents, or other documents of 

  
 AGREEMENT – Page
10 

 
any kind or nature that are referred to on Exhibit 2 attached hereto, including all amendments thereto (collectively, the “Underlying Documents”); provided
that the Parties explicitly recognize and agree that the list of Underlying Documents provided on the form of Exhibit 2 on the Closing Date is a preliminary list only; provided further that the Company covenants to PBGC that
the Company will engage in good-faith, expeditious post-Closing negotiations with PBGC to finalize an agreed-upon list of Underlying Documents that, once agreed-upon by the Company and PBGC, will be deemed to be in full force and effect as of the
Closing Date and not subject to further modification. 
 (c) Subject to Section 2.01(b), the Company represents and warrants to PBGC that,
as of the Closing Date, no changes, waivers, or amendments to the Underlying Documents were made between September 4, 2014 and the Closing Date, except as otherwise identified on Exhibit 2. 

2.02. Existence, Power, and Execution. 

(a) Sears Holdings Corporation. The Company represents and warrants to PBGC that, as of the Closing Date: (i) it is a corporation duly
organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) it has the legal power and right to enter into and perform the obligations contained in this Agreement, and to perform the transactions contemplated
hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of the Company’s organizational documents or any judgment, decree, order, statute, rule, or regulation
applicable to the Company as a party in interest or any laws applicable to the Company; (iv) to the Company’s knowledge, the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions
of any material agreement or instrument to which the Company is a party or by which the Company is bound; and (v) the execution, delivery, and performance of this Agreement and the transactions contemplated hereunder are duly and validly authorized
by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of the Company. 
 (b) SRC Depositor
Corporation. The Depositor represents and warrants to PBGC that, as of the Closing Date: (i) it is a corporation duly organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) it has the legal power and
right to enter into and perform the obligations contained in this Agreement, and to perform the transactions contemplated hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any
provisions of the Depositor’s organizational documents or any judgment, decree, order, statute, rule, or regulation applicable to the Depositor as a party in interest or any laws applicable to the Depositor; (iv) to the Depositor’s
knowledge, the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of any material agreement or instrument to which the Depositor is a party or by which the Depositor is bound; (v)
the execution, delivery, and performance of this Agreement and the transactions contemplated hereunder are duly and validly authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of the
Depositor, and (vi) Exhibit 3-B accurately sets forth: (A) the organizational identification number of the Depositor or, if the Depositor does not have an organizational identification number, a statement that it has none; and (B) the
chief executive office of the Depositor. 

  
 AGREEMENT – Page
11 

 (c) SRC O.P. Corporation. SRC O.P. represents and warrants to PBGC that, as of the Closing
Date: (i) it is a corporation duly organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) it has the legal power and right to enter into and perform the obligations contained in this Agreement, and to perform
the transactions contemplated hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of SRC O.P.’s organizational documents or any judgment, decree, order,
statute, rule, or regulation applicable to SRC O.P. as a party in interest or any laws applicable to SRC O.P.; (iv) to SRC O.P.’s knowledge, the consummation of the transactions contemplated by this Agreement will not violate or be in conflict
with any provisions of any material agreement or instrument to which SRC O.P. is a party or by which SRC O.P. is bound; (v) the execution, delivery, and performance of this Agreement and the transactions contemplated hereunder are duly and validly
authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of SRC O.P.; and (vi) it is the sole owner participant (beneficiary) of SRC Trust. 

(d) SRC Real Estate (TX), LP. SRC R.E. represents and warrants to PBGC that, as of the Closing Date: (i) it is a limited partnership
duly organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) it has the legal power and right to enter into and perform the obligations contained in this Agreement, and to perform the transactions contemplated
hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of SRC R.E.’s organizational documents or any judgment, decree, order, statute, rule, or regulation
applicable to SRC R.E. as a party in interest or any laws applicable to SRC R.E.; (iv) to SRC R.E.’s knowledge, the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of any
material agreement or instrument to which SRC R.E. is a party or by which SRC R.E. is bound; and (v) the execution, delivery, and performance of this Agreement and the transactions contemplated hereunder are duly and validly authorized by all
requisite authorizing action, corporate, membership, partnership or otherwise, on the part of SRC R.E. 
 (e) SRC Real Estate Holdings
(TX), LLC. SRC Holdings represents and warrants to PBGC that, as of the Closing Date: (i) it is a limited liability company duly organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) it has the legal
power and right to enter into and perform the obligations contained in this Agreement, and to perform the transactions contemplated hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict
with any provisions of SRC Holdings’ organizational documents or any judgment, decree, order, statute, rule, or regulation applicable to SRC Holdings as a party in interest or any laws applicable to SRC Holdings; (iv) to SRC Holdings’
knowledge, the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of any material agreement or instrument to which SRC Holdings is a party or by which SRC Holdings is bound; and (v)
the execution, delivery, and performance of this Agreement and the transactions contemplated hereunder are duly and validly authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of SRC Holdings.

  
 AGREEMENT – Page
12 

 (f) SRC Facilities Statutory Trust No. 2003-A. SRC Trust represents and warrants to PBGC
that, as of the Closing Date: (i) it is a statutory trust duly organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) it has the legal power and right to enter into and perform the obligations contained in
this Agreement, and to perform the transactions contemplated hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of SRC Trust’s organizational documents or any
judgment, decree, order, statute, rule, or regulation applicable to SRC Trust as a party in interest or any laws applicable to SRC Trust; (iv) to SRC Trust’s knowledge, the consummation of the transactions contemplated by this Agreement will
not violate or be in conflict with any provisions of any material agreement or instrument to which SRC Trust is a party or by which SRC Trust is bound; and (v) the execution, delivery, and performance of this Agreement and the transactions
contemplated hereunder are duly and validly authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of SRC Trust. 

(g) Sears, Roebuck and Co. Lessee represents and warrants to PBGC that, as of the Closing Date: (i) it is a corporation duly organized,
validly existing, and in good standing under the laws of the state of New York; (ii) it has the legal power and right to enter into and perform the obligations contained in this Agreement, and to perform the transactions contemplated hereby; (iii)
the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of Lessee’s organizational documents or any judgment, decree, order, statute, rule, or regulation applicable to Lessee as
a party in interest or any laws applicable to Lessee; (iv) to Lessee’s knowledge, the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of any material agreement or instrument
to which Lessee is a party or by which Lessee is bound; and (v) the execution, delivery, and performance of this Agreement and the transactions contemplated hereunder are duly and validly authorized by all requisite authorizing action, corporate,
membership, partnership or otherwise, on the part of Lessee. 
 (h) KCD, IP, LLC. IP Subsidiary represents and warrants to PBGC that,
as of the Closing Date: (i) it is a limited liability company duly organized, validly existing, and in good standing under the laws of the state of Delaware; (ii) it has the legal power and right to enter into and perform the obligations contained
in this Agreement, and to perform the transactions contemplated hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of IP Subsidiary’s organizational documents
or any judgment, decree, order, statute, rule, or regulation applicable to IP Subsidiary as a party in interest or any laws applicable to IP Subsidiary; (iv) to IP Subsidiary’s knowledge, the consummation of the transactions contemplated by
this Agreement will not violate or be in conflict with any provisions of any material agreement or instrument to which IP Subsidiary is a party or by which IP Subsidiary is bound; (v) the execution, delivery, and performance of this Agreement and
the transactions contemplated hereunder are duly and validly authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of IP Subsidiary; and (vi) Exhibit 10-A accurately sets forth:
(A) the organizational identification number of IP Subsidiary or, if IP Subsidiary does not have an organizational identification number, a statement that it has none; and (B) the chief executive office of IP Subsidiary. 

  
 AGREEMENT – Page
13 

 (i) Sears Brands, LLC. Member represents and warrants to PBGC that, as of the Closing
Date: (i) it is a limited liability company duly organized, validly existing, and in good standing under the laws of the state of Illinois; (ii) it has the legal power and right to enter into and perform the obligations contained in this Agreement,
and to perform the transactions contemplated hereby; (iii) the consummation of the transactions contemplated by this Agreement will not violate or be in conflict with any provisions of Member’s organizational documents or any judgment, decree,
order, statute, rule, or regulation applicable to Member as a party in interest or any laws applicable to Member; (iv) to Member’s knowledge, the consummation of the transactions contemplated by this Agreement will not violate or be in conflict
with any provisions of any material agreement or instrument to which Member is a party or by which Member is bound; (v) the execution, delivery, and performance of this Agreement and the transactions contemplated hereunder are duly and validly
authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of Member; and (vi) it is the sole member of IP Subsidiary. 

(j) Other Company Subsidiaries. The Company represents and warrants to PBGC that, as of the Closing Date: (i) each Other Company
Subsidiary is a legal entity duly organized, validly existing, and in good standing under the laws of the jurisdiction of its organization; (ii) each Other Company Subsidiary has the legal power and right to enter into and perform the obligations
contained in the Subordination Agreement and any other Transaction Document to which it is a party and to perform the transactions contemplated thereby; (iii) the consummation of the transactions contemplated thereby will not violate or be in
conflict with any provisions of any Other Company Subsidiary’s organizational documents or any judgment, decree, order, statute, rule, or regulation applicable to any Other Company Subsidiary as a party in interest or any laws applicable to any
Other Company Subsidiary; (iv) to the Company’s knowledge, the consummation of the transactions contemplated by the Subordination Agreement and any and all other such Transaction Documents will not violate or be in conflict with any provisions
of any material agreement or instrument to which any Other Company Subsidiary is a party or by which any Other Company Subsidiary is bound; and (v) the execution, delivery, and performance by each Other Company Subsidiary of the Subordination
Agreement and any other Transaction Document to which it is a party and the transactions contemplated thereunder are duly and validly authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on its part. 

(k) Sears Re Claims. Each of the Depositor, the RE Subsidiaries and the IP Subsidiary represents and warrants to PBGC that,
as of the Closing Date, it does not have any obligations of any kind to Sears Re except to the extent arising under the IP Notes, the IP Notes Indenture or any agreements or other documents related thereto; provided however that if any obligation of
a kind or nature that would cause such representation and warranty to be untrue (“Prohibited Sears Re Obligation”) is subsequently found to have existed as of the Closing Date, it shall not constitute a breach of this Section
2.02(k) if the Company causes such obligation to be discharged or subordinated in right of payment to those obligations owed to PBGC as set forth in the Subordination Agreement promptly, but in any event within ten (10) Business Days, after such
obligation is discovered by the Company. 
 (l) PBGC agrees that, if the Closing occurs, PBGC shall not assert that anything disclosed in
writing to it by the Company in connection with, or during the course of, 

  
 AGREEMENT – Page
14 

 
the negotiation and entry into the Term Sheet or this Agreement prior to the Closing Date constitutes a breach of the representations or warranties set forth in Clause (iv) of any of Paragraphs
(a) through (j) of this Section 2.02. 
 2.03. REMIC Securitization. The Company represents and warrants to PBGC the
following as of the Closing Date: 
 (a) The ownership chart attached hereto as Exhibit 3-A is a true, complete, and accurate
representation of the Sears Parties’ ownership structure as it relates to the Depositor and the RE Subsidiaries. 
 (b) The Depositor
has made loans (the “Mortgage Loans”) to the RE Subsidiaries secured by, inter alia, mortgages on, and assignments of leases pertaining to, all of the real properties owned, ground-leased or sub-ground-leased by the RE
Subsidiaries (except as set forth on Exhibit 27) (the “REMIC Mortgages”; all real properties currently owned, ground-leased or sub-ground-leased by each RE Subsidiary or the Depositor, together with all real properties
after-acquired or subsequently ground-leased or sub-ground-leased by each RE Subsidiary or the Depositor, the “REMIC Properties”). 

(c) The Depositor’s interests in the Mortgage Loans have been assigned to the REMIC Issuer, which in turn issued the REMIC Certificates
backed by the pool of Mortgage Loans pursuant to the Pooling and Servicing Agreement. 
 (d) All regular interest REMIC Certificates, as
more fully described in sections 2.07 and 6.01 of the Pooling and Servicing Agreement, are held by the Subsidiaries identified on Exhibit 4 (each such identified Subsidiary, a “Holder”), and will be held by such
Holders immediately prior to the transfer of the regular interest REMIC Certificates to the Depositor at Closing pursuant to Section 9.02(b) of this Agreement. 

(e) The residual interest Class R REMIC Certificate, as more fully described in sections 2.07 and 6.01 of the Pooling and Servicing Agreement,
is held by the Depositor. 
 (f) The RE Subsidiaries own, ground-lease or sub-ground-lease all of the REMIC Properties, which are subject to
the Master Lease. SRC R.E. owns, ground-leases or sub-ground-leases each of the REMIC Properties situated in Texas. SRC O.P., either directly or through its beneficial interest in SRC Trust, owns, ground-leases or sub-ground-leases each of
the REMIC Properties situated in Maryland. SRC Trust owns, ground-leases, or sub-ground-leases each of the REMIC Properties situated in jurisdictions other than Texas or Maryland. 

(g) Each of the RE Subsidiaries and the Depositor is in material compliance with each of its respective organizational documents; provided
that PBGC agrees that, if the Closing occurs, PBGC shall not assert that anything disclosed in writing to it by the Company in connection with, or during the course of, the negotiation and entry into the Term Sheet or this Agreement prior to the
Closing Date constitutes a breach of the representations set forth in this Clause (g). 
 (h) To the Company’s knowledge, none
of the parties to the REMIC Transactional Documents is in default thereunder, nor does an event of default exist thereunder; 

  
 AGREEMENT – Page
15 

 
provided that PBGC (1) acknowledges to the Company that, to PBGC’s knowledge, none of the parties to the REMIC Transactional Documents is in default thereunder and no event of default exists
thereunder and (2) agrees that, if the Closing occurs, PBGC shall not assert that anything disclosed in writing to it by the Company in connection with, or during the course of, the negotiation and entry into the Term Sheet or this Agreement prior
to the Closing Date constitutes a breach of the representations set forth in this Clause (h). 
 (i) Except as set forth on
Exhibit 24, there are no default waivers under the REMIC Transactional Documents. 
 (j) Exhibit 5 contains a
full, complete, and accurate list of all of the sales, substitutions, Transfers or Distributions of any REMIC Properties by the RE Subsidiaries from and after October 1, 2014 until the Closing Date. 

(k) Exhibit 6 contains a full, complete, and accurate list of all REMIC Existing Liens as of the Closing Date that are permitted
under this Agreement solely as a result of Section 3.05(h)(2) and not pursuant to Section 3.05(h)(1); provided that (1) the failure by the Company to include on Exhibit 6 any REMIC Existing Lien required to be so
included pursuant to this Section 2.03(k) shall not constitute a breach of this Agreement, a Forbearance Termination Event or a Springing Lien Event so long as: (A) within 50 days following delivery of notice of such failure by PBGC to the
Company, the Company causes either (i) such REMIC Existing Lien to be released or (ii) the REMIC Property subject to such REMIC Existing Lien (the “Impaired REMIC Property”) to be substituted for other real property of equal or
greater value pursuant to Section 3.05(c)(2); (B) for the purposes of such substitution, the value of the Impaired REMIC Property is determined solely by reference to the appraisal required by Section 3.05(c)(2); and (C) such appraisal
expressly assumes that the Impaired REMIC Property is not encumbered by such REMIC Existing Lien (such appraised value, using such assumption, the “Impaired REMIC Property Value”); provided further that, (2) (A) the Impaired
REMIC Property Value shall count towards the $50 million substitution limit established by section 1 of the Master Lease Amendment; but (B) such substitution shall not constitute a breach of section 1 of the Master Lease Amendment should such
substitution cause the total aggregate value of the properties referenced therein to exceed $50 million at the time of such substitution. 

(l) Exhibit 7 contains a full, complete, and accurate list of all REMIC Properties owned, ground-leased or sub-ground-leased by
any of the RE Subsidiaries or the Depositor as of the Closing Date, inclusive of a listing of agreed property values for purposes of Section 3.05(a). 

(m) The full details of the current director insurance and compensation packages to which the Independent Directors will be beneficiaries are
set forth at Exhibit 17. 
 2.04. REMIC Organizational Documents. 

(a) Representations and Warranties. The Company represents and warrants to PBGC the following as of the Closing Date: 

(1) The organizational documents of the Depositor and each RE Subsidiary provide that each has been, and shall continue to be, operated as a
special purpose 

  
 AGREEMENT – Page
16 

 
entity consistent with the special purpose vehicle provisions of such organizational documents (including, without limitation, provisions intended to ensure and preserve the bankruptcy-remoteness
of each such entity) and the prior opinions provided by REMIC Counsel including the REMIC 2003 Bankruptcy Opinion. 
 (2) The Certificate
of Incorporation of SRC O.P. provides that (A) at least one director of SRC O.P. shall be an individual fully-independent of the Company, and (B) a Bankruptcy Action (as defined in such Certificate of Incorporation) by SRC O.P. is permissible only
with the unanimous affirmative vote of all of the directors of SRC O.P., including the consent of such independent director. 
 (3) The
Certificate of Incorporation of the Depositor provides that (A) at least one director of the Depositor shall be an individual fully-independent of the Company, and (B) a Bankruptcy Action (as defined in such Certificate of Incorporation) by the
Depositor is permissible only with the unanimous affirmative vote of all of the directors of the Depositor, including the consent of such independent director. 

(4) The organizational documents of SRC Holdings provide that, so long as a REMIC Mortgage remains outstanding with respect to a REMIC
Property owned by SRC Holdings, a Bankruptcy Action (as defined in such organizational documents) by SRC Holdings is permissible only with the consent of the Depositor and the unanimous affirmative consent of SRC Trust and SRC O.P. (including the
consent of the independent director of SRC O.P). 
 (5) The organizational documents of SRC R.E. provide that, so long as a REMIC Mortgage
remains outstanding with respect to a REMIC Property owned, ground-leased, or sub-ground-leased by SRC R.E., a Bankruptcy Action (as defined by such organizational documents) by SRC R.E. is permissible only with the consent of the Depositor and the
unanimous affirmative consent of SRC Holdings, SRC Trust, and SRC O.P. (including the consent of the independent director of SRC O.P.). 

2.05. IP Securitization. The Company represents and warrants to PBGC the following as of the Closing Date: 

(a) The Member is the sole member of the IP Subsidiary. 

(b) The IP Subsidiary has issued the IP Notes secured by the IP Note Liens on the IP Assets. 

(c) All IP Notes are held by Sears Re. 

(d) The IP Subsidiary is in material compliance with its organizational documents; provided that PBGC agrees that, if the Closing occurs, PBGC
shall not assert that anything disclosed in writing to it by the Company in connection with, or during the course of, the negotiation and entry into the Term Sheet or this Agreement prior to the Closing Date constitutes a breach of the
representations set forth in this Clause (d). 

  
 AGREEMENT – Page
17 

 (e) To the Company’s knowledge, none of the parties to the IP Notes or the IP Notes
Indenture is in default thereunder, nor does an event of default exist thereunder; provided that PBGC (1) acknowledges to the Company that, to PBGC’s knowledge, none of the parties to the IP Notes or the IP Notes Indenture is in default
thereunder and no event of default exists thereunder and (2) agrees that, if the Closing occurs, PBGC shall not assert that anything disclosed to it in writing by the Company in connection with, or during the course of, the negotiation and entry
into the Term Sheet or this Agreement prior to the Closing Date constitutes a breach of the representations set forth in this Clause (e). 

(f) There are no default waivers under the IP Notes or the IP Notes Indenture. 

(g) Exhibit 8 contains a full, complete, and accurate list of all sales, substitutions, Transfers or Distributions of any IP
Assets out of the IP Subsidiary from and after October 1, 2014 until the Closing Date. 
 (h) Exhibit 9 contains a full,
complete, and accurate list of all IP Existing Liens that are permitted under this Agreement solely as a result of Section 4.05(b)(6) and not pursuant to any other provision of Section 4.05(b). 

(i) The IP Assets owned by the IP Subsidiary as of the Closing Date include the trademark registrations and applications identified on
Exhibit 10-B. 
 (j) The full details of the current director insurance and compensation packages to which the IP Independent
Manager will be a beneficiary are set forth at Exhibit 17. 
 2.06. IP Organizational Documents.  

(a) Representations and Warranties. The Company represents and warrants to PBGC the following as of the Closing Date: 

(1) The organizational documents of the IP Subsidiary provide that the IP Subsidiary has been, and shall continue to be, operated as a
special purpose entity consistent with the special purpose vehicle provisions of the organizational documents of the IP Subsidiary (including, without limitation, provisions intended to ensure and preserve the bankruptcy-remoteness of such entity)
and the prior opinions provided by IP Subsidiary Counsel including the IP 2006 Bankruptcy Opinion. 
 (2) The IP Subsidiary Operating
Agreement provides that at least one Manager (as defined in the IP Subsidiary Operating Agreement) of the IP Subsidiary shall be an individual meeting the requirements of an Independent Manager (as defined in the IP Subsidiary Operating Agreement).

 (3) The IP Subsidiary Operating Agreement provides that a filing of a bankruptcy petition by the IP Subsidiary, or consent to the
institution of bankruptcy proceedings against the IP Subsidiary, is permissible only with the prior written consent of the Member and the Board (each as defined in the IP Subsidiary Operating Agreement) (including the IP Independent Manager). 

  
 AGREEMENT – Page
18 

 ARTICLE III 

PLAN PROTECTION TRANSACTION: REMIC ASSETS 

3.01. Maintenance of REMIC Structure. The Company, the Depositor and each of the RE Subsidiaries agree to maintain the
existing REMIC Structure as contemplated by the REMIC Transactional Documents (other than the Transfers contemplated by this Agreement). 

3.02. Delivery of Additional Regular Interest REMIC Certificates. If on or after the Closing Date any additional regular
interest REMIC Certificates are issued or the Company or any of its Subsidiaries acquires any additional regular interest REMIC Certificates from the Depositor or any other Person, (a) the Company shall (or shall cause such Subsidiary to, as
applicable), promptly (but in no circumstances later than ten (10) Business Days) after any such issuance or acquisition, transfer ownership of such additional regular interest REMIC Certificates to the Depositor and (b) the Depositor shall promptly
(but in no circumstances later than two (2) Business Days) after such transfer, deliver such certificates, together with undated instruments of transfer, to the Custodian or, if prior to the appointment of the Custodian, PBGC’s designated agent
to be held in escrow on behalf of PBGC in accordance with the Escrow Arrangements. 
 3.03. Independent Directors’ Insurance
Coverage and Compensation; Covenants Regarding Replacement; Voting. 
 (a) Each Independent Director appointed pursuant to this
Agreement shall (i) receive coverage from the Depositor’s or the applicable RE Subsidiary’s (as applicable) directors’ and officers’ liability policies of insurance to the same extent as each other director and (ii) be paid and
receive all other benefits at the same levels and amounts as the other directors of the entity for whom such Independent Director serves (and at the sole expense of such entity). 

(b) Each of the Company and the Depositor hereby covenants to PBGC and agrees that it will not seek to remove the existing Depositor
Independent Director or appoint any successor Depositor Independent Director unless the existing Depositor Independent Director is promptly replaced by a successor Depositor Independent Director set forth on Exhibit 17 hereto or
otherwise expressly approved in advance in writing by PBGC. Each of the Company and SRC O.P. hereby covenants to PBGC and agrees that it will not seek to remove the existing SRC O.P. Independent Director or appoint any successor SRC O.P.
Independent Director unless the existing SRC O.P. Independent Director is promptly replaced by a successor SRC O.P. Independent Director set forth on Exhibit 17 hereto or otherwise expressly approved in advance in writing by
PBGC. The Parties agree that a termination by CSC of the CSC Service Agreement for either Independent Director shall not constitute a breach of this Section 3.03(b) by the Company, the Depositor, or SRC O.P. (as applicable) so long as a
successor Independent Director is promptly appointed in accordance with this Section 3.03(b). 
 (c) Any Independent Director shall be
entitled to vote solely on: 
 (1) the authorization of Depositor or SRC O.P. (as applicable) to enter into the Agreement or any other
Transaction Document; 

  
 AGREEMENT – Page
19 

 (2) the commencement of a Voluntary Bankruptcy Event or a Transfer, Pledge or Distribution of
all or substantially all of the assets of the entity as to which such person is an Independent Director; 
 (3) any amendment to the
organizational documents of the entity as to which such person is an Independent Director; and 
 (4) any action which, in the Independent
Director’s reasonable judgment, may impair the special purpose nature or the bankruptcy-remoteness of any of the Depositor or the RE Subsidiaries (as applicable) in any material respect, or would otherwise be in breach of any provisions set
forth in any Transaction Document. 
 3.04. REMIC Covenants. Each of the RE Subsidiaries and the Depositor covenants
to PBGC and agrees that it will not (except as expressly permitted by this Agreement): 
 (a) incur or guarantee any Indebtedness; 

(b) Transfer any of the Designated Assets; 

(c) Distribute any of the Designated Assets; 

(d) Pledge any of the Designated Assets; 

(e) amend in any manner materially adverse to PBGC’s interests (i) the organizational documents of the Depositor or the RE Subsidiaries
or (ii) the REMIC Transactional Documents (all of the foregoing provisions of this Clause (e), the “REMIC Amendment Covenant”); it being understood that a reasonable extension of the expiry of the Master Lease, including any
renewal of the Master Lease in accordance with its terms, will be deemed not to be materially adverse to PBGC’s interests; 
 (f)
institute, or consent to the institution of (including, without limitation, by failing to timely defend against), bankruptcy or insolvency proceedings in respect to the Depositor or any of the RE Subsidiaries, or file a petition seeking or
consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy or insolvency, or seek or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of
the Depositor or any of the RE Subsidiaries or any substantial part of its or their assets, or make any assignment for the benefit of creditors, or admit in writing its inability to pay its debts generally as they become due, or take any corporate
action in furtherance of any such action; 
 (g) merge, dissolve, liquidate, or consolidate with or into any other entity or engage in any
other business combination with any other entity; 
 (h) form any subsidiaries; 

(i) take any action in violation of the Amended RE Organizational Documents; or 

  
 AGREEMENT – Page
20 

 (j) (i) change its name or organizational identification number (if applicable), or conduct its
business operations under any fictitious business name or trade name, (ii) change its type of organization, jurisdiction or organization, or other legal structure except as otherwise expressly permitted hereunder, or (iii) change its chief executive
office, in each case unless the applicable entity promptly (and, in any event, within thirty (30) calendar days after such change) notifies PBGC of such change. 

3.05. REMIC Covenant Carve-outs. Notwithstanding the covenants and restrictions set forth in Section
3.04, the RE Subsidiaries may: 
 (a) RE Subsidiaries Permitted Transfers. Sell or transfer up to ten (10) REMIC
Properties in aggregate, provided that: 
 (1) the applicable RE Subsidiary has provided PBGC with thirty (30) calendar days advance
written notice of each such sale or transfer; 
 (2) a Springing Lien Event has not occurred; 

(3) the aggregate value, determined solely by reference to the property values listed in Exhibit 7 (the “Closing Date
Values”), of all of the REMIC Properties sold or transferred pursuant to this Section 3.05(a) does not exceed $75 million; 

(4) during the remainder of the calendar year in which the Closing occurs and the immediately following calendar year, the RE Subsidiaries
shall not sell or transfer more than five (5) REMIC Properties per calendar year (or portion thereof) pursuant to this Section 3.05(a), and the aggregate value, determined solely by reference to the Closing Date Values, of all REMIC
Properties sold or transferred pursuant to this Section 3.05(a) during either of such calendar years (or portion thereof) shall not exceed $25 million; and 

(5) during each subsequent calendar year, the RE Subsidiaries shall not sell or transfer more than five (5) REMIC Properties, and the
aggregate value, determined solely by reference to the Closing Date Values, of all REMIC Properties sold or transferred during any such calendar year pursuant to this Section 3.05(a) shall not exceed $35 million (all sales or transfers of
REMIC Properties pursuant to this Section 3.05(a), “RE Subsidiaries Permitted Transfers”). 
 (6) Notwithstanding
anything to the contrary in this Section 3.05(a), each sale or transfer by any RE Subsidiary to another RE Subsidiary will constitute a RE Subsidiaries Permitted Transfer but will not count against any numerical limit in this Section
3.05(a) on the number or value of RE Subsidiaries Permitted Transfers. 
 (b) Parties to REMIC Transactional
Documents. Permit (i) the RE Subsidiaries to remain parties to (and the REMIC Properties to remain subject to) the Master Lease and (ii) the RE Subsidiaries and the Depositor to remain parties to (and the REMIC Properties to remain subject
to) the other REMIC Transactional Documents. 

  
 AGREEMENT – Page
21 

 (c) Permitted Operation of Master Lease. In the case of the RE Subsidiaries, so long
as a Springing Lien Event has not occurred: 
 (1) take any action required by the Master Lease and the Site Leases (or the applicable
ground lease or sub-ground lease); 
 (2) undertake or permit (A) movement of parts between REMIC Properties, making of improvements to
REMIC Properties, and installation of trade fixtures in accordance with Section 9 of the Master Lease; (B) subleases of REMIC Properties subject to the Master Lease in accordance with Section 13(a) of the Master Lease; (C) terminations of the Master
Lease with respect to specific REMIC Properties in accordance with Section 14(a) of the Master Lease; (D) substitutions of REMIC Properties subject to the Master Lease in accordance with Sections 11(a) and/or 14(d) of the Master Lease; (E)
transactions involving outlots pursuant to Section 14(e) of the Master Lease; (F) transactions pursuant to Section 14(f) of the Master Lease; and (G) sales of REMIC Properties pursuant to Section 16 of the Master Lease; provided that (x) the
aggregate value of REMIC Properties sold pursuant to Section 3.05(c)(2)(C), together with the aggregate value of properties sold pursuant to Section 3.05(c)(2)(G), shall not exceed $25 million in any calendar year determined solely by
reference to the Closing Date Values (provided that any unused portion thereof with respect to any calendar year may be carried forward to any subsequent calendar year), (y) no substitution of any REMIC Property pursuant to Section
3.05(c)(2)(D) (or otherwise, if any) may occur unless (i) such REMIC Property is substituted for other real property of equal or greater value (determined solely by reference to appraisals effective on or about the date of each such
substitution performed at the sole cost of the Sears Parties) which become collateral for Mortgage Loans which back the REMIC Certificates in accordance with the terms of the REMIC Transactional Documents, and (ii) at or before the time of such
substitution, the RE Subsidiary making such substitution delivers to the Custodian or, if prior to the appointment of the Custodian, PBGC’s designated agent, to hold on behalf of PBGC pursuant to the Escrow Arrangements, an executed signature
page for a PBGC Mortgage and such other PBGC RE Perfection Documents with respect to the newly acquired REMIC Property as would have been required if such newly acquired REMIC Property had been a REMIC Property on the Closing Date, and (z)
notwithstanding anything herein to the contrary, no sales by the RE Subsidiaries or Depositor of REMIC Properties (as distinguished from, and not including, movement of parts, subleases, substitutions of REMIC Properties, outlots, or Pledges) may
occur unless such sales are either RE Subsidiaries Permitted Transfers or expressly permitted under Sections 3.05(c)(2)(C) or 3.05(c)(2)(G); 

(3) permit Lessee to exercise any of its other rights under the Master Lease, except as expressly prohibited or limited in this Agreement.

 (d) [Intentionally Omitted.] 

(e) [Intentionally Omitted.] 

(f) Payments Under REMIC Certificates. Pay (i) third-party servicer and trustee fees in relation to the REMIC Certificates and
(ii) principal and interest on the REMIC Certificates in accordance with the Pooling and Servicing Agreement. 
 (g) REMIC Cash
Circulation. So long as a Springing Lien Event has not occurred, Transfer or Distribute cash or cash equivalents, but not REMIC Properties, to the Company or any of its Subsidiaries, but only in a manner generally consistent with the
regular cash flow circulation processes employed by the applicable Sears Parties in their Ordinary Course of Business. 

  
 AGREEMENT – Page
22 

 (h) Liens. 

(1) incur (A) ordinary course or involuntary liens and encumbrances, including, without limitation, liens securing real estate taxes (which
shall be timely extinguished in the Ordinary Course of Business), zoning restrictions, and easements; (B) liens arising under the REMIC Transactional Documents; and (C) liens and encumbrances permitted by the REMIC Transactional Documents; and 

(2) permit to exist any liens and encumbrances existing on the Closing Date (such existing liens and encumbrances, the “REMIC
Existing Liens”). 
 3.06. Additional REMIC Covenants. 

(a) Lessee covenants to PBGC and agrees that it shall continue to pay all amounts as and when due under the Master Lease and all Site Leases
(as defined in the Master Lease) entered into pursuant thereto, subject to any applicable grace periods, with respect to the REMIC Properties and the Mortgage Loans. 

(b) Each of the RE Subsidiaries and the Depositor covenants to PBGC and agrees that it shall at all times remain liable for its obligations to
PBGC under ERISA and any other applicable law irrespective of whether any direct or indirect Transfer, Pledge or Distribution of the equity or other ownership interests in any RE Subsidiary or the Depositor occurs. With respect to each such Sears
Party, such continuing liability hereunder shall survive any such Transfer, Pledge or Distribution as if such Sears Party thereafter remained a member of the Company’s Controlled Group. 

(c) Each Sears Party covenants to PBGC and agrees that it shall not cause or allow, and that there will not be, (A) any direct or indirect
Transfer or Distribution, or (B) any Pledge, in each case, of the equity or other ownership interests of any RE Subsidiary or the Depositor to any Person other than the Company or any of its Subsidiaries and in any such case, only if (y) such equity
or other ownership interests are (or will be) owned by the Company or a Subsidiary organized under the laws of and domiciled in any state of the United States of America or the District of Columbia, and (z) upon giving effect to such Transfer,
Distribution, or Pledge, all RE Subsidiaries and the Depositor will remain members of the Company’s Controlled Group. 
 (d) Each Sears
Party covenants to PBGC and agrees that in the event that it is required to (or otherwise) deliver(s) a schedule of liens and encumbrances pertaining to any REMIC Property to any third party, it shall deliver such schedule (including updates) to
PBGC promptly following delivery to the applicable third party. 
 3.07. Transaction Documents Control. In the event
that any action or matter is expressly prohibited or limited in any Transaction Document, but is permitted or less limited under the REMIC Transactional Documents, such Transaction Document shall control. 

  
 AGREEMENT – Page
23 

 3.08. Sears Re Claims. Each of the Depositor, the RE Subsidiaries
and the IP Subsidiary shall not become obligated to Sears Re except to the extent of obligations arising under the IP Notes, the IP Notes Indenture or any agreements or other documents related thereto; provided however that if any inadvertent
or involuntary obligation that would have constituted a Prohibited Sears Re Obligation if in existence on the Closing Date arises after the Closing Date, it shall not constitute a breach of this Section 3.08 if the Company causes such
obligation to be discharged or subordinated in right of payment to those obligations owed to PBGC as set forth in the Subordination Agreement promptly, but in any event within ten (10) Business Days after, such obligation is discovered by the
Company. Promptly, but in no event greater than five (5) Business Days after PBGC’s written request (such requests not to be made more frequently than quarterly), the Company shall either certify to PBGC that no Prohibited Sears Re Obligations
exist to the best knowledge of the Company (whether arising before, on, or after the Closing Date, and whether arising intentionally, inadvertently, or involuntarily) or disclose all Prohibited Sears Re Obligations then existing to the best
knowledge of the Company. 
 3.09. Discovery of Prohibited Sears Re Obligation. Promptly, but in any event within
five (5) Business Days after any discovery by the Company of any Prohibited Sears Re Obligation (whether arising prior to the Closing Date or thereafter), the Company shall provide notice of such discovery to PBGC. 

ARTICLE IV 
 PLAN
PROTECTION TRANSACTION: IP ASSETS 
 4.01. Covenants Regarding Replacement. Each of the Company and the
Member hereby covenants to PBGC and agrees that it will not seek to remove the existing IP Independent Manager or appoint any successor IP Independent Manager unless the existing IP Independent Manager is promptly replaced by a successor IP
Independent Manager set forth on Exhibit 17 hereto or otherwise expressly approved in advance in writing by PBGC. Each of the Company and the Member hereby further covenants to PBGC and agrees that the IP Independent Manager shall
be the sole Independent Manager (as such term is defined in the Limited Liability Company Operating Agreement of KCD IP, LLC, as in effect on the Closing Date). The Parties agree that a termination by CSC of the CSC Service Agreement for the IP
Independent Manager shall not constitute a breach of this Section 4.01 by the Company or the Member so long as a successor IP Independent Manager is promptly appointed in accordance with this Section 4.01. 

4.02. Limitations Upon Voting. Any IP Independent Manager shall be entitled to vote solely on: 

(a) the authorization of IP Subsidiary to enter into the Agreement or any other Transaction Document; 

(b) the commencement of a Voluntary Bankruptcy Event or a Transfer, Pledge, or Distribution of all or substantially all of the assets of the
IP Subsidiary; 
 (c) any amendment to the organizational documents of the IP Subsidiary; and 

(d) any action which, in the IP Independent Manager’s reasonable judgment, may impair the bankruptcy remoteness of the IP Subsidiary in
any material respect, or would otherwise be in violation of any provision set forth in any Transaction Document. 

  
 AGREEMENT – Page
24 

 4.03. Insurance Coverage. All IP Independent Managers shall (i) receive
coverage from the applicable directors’ and officers’ liability policies of insurance; and (ii) be paid and receive all other benefits at the same level and amount as the other managers of the IP Subsidiary, at the IP Subsidiary’s
sole expense. 
 4.04. IP Covenants. 

(a) The Company covenants to PBGC and agrees that it shall not permit the IP Subsidiary to, and the IP Subsidiary covenants to PBGC and agrees
(as an independent covenant and solely to the extent that such agreement by the IP Subsidiary does not impair the rights of the holder of the IP Notes thereunder or materially impair the marketability of the IP Notes) that it shall not: 

(1) Transfer or Distribute any Designated Assets; 

(2) amend in any manner that is materially adverse to the interests of PBGC (i) the organizational documents of the IP Subsidiary (it being
understood that, without limitation, any amendments to the sections of the organizational documents identified in Exhibit 25 would be materially adverse to PBGC, and are therefore prohibited) or (ii) the IP Notes Indenture (this
Section 4.04(a)(2), the “Indenture Amendment Covenant”); 
 (3) Pledge any Designated Assets; 

(4) institute or consent to the institution of (including, without limitation, by failing to timely defend against) bankruptcy or insolvency
proceedings in respect to the IP Subsidiary, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy or insolvency, or seek or consent to the appointment of a receiver,
liquidator, assignee, trustee, sequestrator (or other similar official) of the IP Subsidiary or any substantial part of its assets, or make any assignment for the benefit of creditors, or admit in writing its inability to pay its debts generally as
they become due, or take any corporate action in furtherance of such action; 
 (5) incur, assume or guaranty any Indebtedness; 

(6) make any expenditure (by long-term or operating lease or otherwise) for any capital assets (either realty or personalty); 

(7) merge, dissolve, liquidate or consolidate with or into any other entity or engage in any other business combination with any other
entity; 
 (8) (A) change its name or organizational identification number (if applicable), or conduct its business operations under any
fictitious business name or trade name, (B) change its type of organization, jurisdiction of organization, or other legal structure except as otherwise expressly permitted hereunder or (C) change its chief executive office, in each case unless the
IP Subsidiary promptly (and, in any event, within thirty (30) calendar days following such change) notifies PBGC of such change; 

  
 AGREEMENT – Page
25 

 (9) form any subsidiaries; or 

(10) take any action in violation of or not authorized under the organizational documents of the IP Subsidiary. 

(b) The Company covenants to PBGC and agrees that the Company and its Subsidiaries shall continue to pay all royalties as and when due
(subject to any applicable grace periods) with respect to the IP Assets and the IP Notes. 
 (c) The Company and, as an independent covenant
of the IP Subsidiary and solely to the extent that such agreement by the IP Subsidiary does not impair the rights of the holder of the IP Notes thereunder or materially impair the marketability of the IP Notes, the IP Subsidiary covenant to PBGC and
agree that in the event that the Company or any of its Subsidiaries, including the IP Subsidiary, is required to deliver (or otherwise delivers) a schedule of liens and encumbrances pertaining to any property owned by the IP Subsidiary to any third
party, they shall deliver such schedule (including updates) to PBGC promptly following delivery to the applicable third party. 
 (d) Each
Sears Party covenants to PBGC and agrees that it shall not cause or allow, and that there shall not be, (A) any direct or indirect Transfer or Distribution or (B) any Pledge, in each case of any membership or other equity interests in the IP
Subsidiary to any Person other than the Company or any of its Subsidiaries (other than the Limited License) and in any such case, only if (y) such interests are (or will) be owned by the Company or a Subsidiary organized under the laws of and
domiciled in any state of the United States of America or the District of Columbia, and (z) upon giving effect to such Transfer, Distribution, or Pledge, the IP Subsidiary will remain a member of the Company’s Controlled Group. 

(e) The records concerning the IP Assets are and shall be kept at the address shown in Exhibit 10-A as the chief executive
office of IP Subsidiary or at the offices of applicable outside counsel. 
 (f) The Company and the IP Subsidiary covenant to PBGC and agree
that the IP Subsidiary shall deliver to PBGC a written update to Exhibit 10-B (i) immediately upon the occurrence of a Springing Lien Event and (ii) from and after the Closing Date, promptly after the IP Subsidiary’s acquisition
or disposition of any IP Asset that, either individually or in the aggregate, is material to the business of any Sears Party; provided that, in the case of the disposition of any IP Asset, the IP Subsidiary shall deliver to PBGC the written update
to Exhibit 10-B no later than ten (10) Business Days after the IP Subsidiary’s disposition of such IP Asset. 

  
 AGREEMENT – Page
26 

 4.05. IP Covenant Carve-outs.  

(a) Notwithstanding anything to the contrary set forth in Section 4.04(a)(1) of this Agreement, the IP Subsidiary shall be permitted
to: 
 (1) make payments in respect of the IP Notes or as required by the IP Notes Indenture; 

(2) Transfer or Distribute the IP Assets to the extent that such Transfer or Distribution either: 

(A) is permitted by the IP Notes Indenture and is otherwise undertaken for fair market value and in its Ordinary Course of
Business; or 
 (B) is a Transfer or Distribution following the occurrence of a default under the IP Notes Indenture, with
the net proceeds thereof being first applied to the IP Notes and after payment in full of such IP Notes and the other obligations under the IP Notes Indenture, such remaining proceeds (being Designated Assets) subject to the Springing Lien and
thereafter to be applied to the PBGC UBL Claims (or, in the event that the PBGC UBL Claims are then contingent, unliquidated and/or unmatured, transferred within five (5) Business Days to, and held by, PBGC or its designated agent for the benefit of
PBGC in express trust or escrow (as applicable) until such time as the PBGC UBL Claims are fully liquidated and after application, such amount (if any) in excess of that required to pay the PBGC UBL Claims in full (provided such PBGC UBL Claims have
not become unenforceable by reason of a lapse of time) shall be remitted to the Company or its appropriate Subsidiary as directed by the Company), or as otherwise required by law; and 

(3) so long as a Springing Lien Event has not occurred, Transfer or Distribute cash or cash equivalents (even if constituting Designated
Assets of the IP Subsidiary) to the Company or any of its Subsidiaries in a manner generally consistent with the regular cash flow circulation processes employed by the Sears Parties in the Ordinary Course of Business, including without limitation
by: 
 (A) maintaining loans (as lender) from the initial proceeds from the issuance of the IP Notes; 

(B) making loans (as lender) to any Affiliate out of payments from the licenses constituting IP Assets; 

(C) canceling, amending, modifying or refinancing any such loans; or 

(D) making distribution of amounts received by the IP Subsidiary under the waterfall provisions of the IP Notes Indenture.

 (b) The covenants and restrictions in Section 4.04(a)(3) shall not apply to: 

(1) the IP Note Liens; 

  
 AGREEMENT – Page
27 

 (2) liens granted in the IP Subsidiary’s Ordinary Course of Business to licensees and
qualified sub-licensees under the applicable licenses and sublicenses; 
 (3) licenses and sublicenses of IP Assets on arms’-length
terms and otherwise in the IP Subsidiary’s Ordinary Course of Business; provided that long-term licenses or sub-licenses providing only upfront (as opposed to regular and periodic) royalty payments shall not be permitted unless the IP
Subsidiary (A) promptly reports such transaction(s) to PBGC and (B) retains (and does not Distribute, Transfer, or unless expressly permitted by this Section 4.05(b), Pledge (except as required by the IP Notes Indenture) such upfront royalty
payments or proceeds thereof; 
 (4) any rights to the Limited License granted pursuant to Section 1.12 of the IP Notes Indenture; 

(5) ordinary course or involuntary liens and encumbrances; 

(6) liens and other encumbrances existing at the Closing Date (the “IP Existing Liens”); 

(7) Permitted Liens (as such term is defined in the IP Notes Indenture); and 

(8) continuations or substitutions of the foregoing with substantially equivalent liens or encumbrances. 

(c) The covenants and restrictions in Section 4.04(a)(5) shall not apply to: 

(1) the IP Notes; 
 (2) other
liabilities arising under the IP Notes Indenture (as in effect as of the Closing Date) and the Transaction Documents (in this instance only, as that term is defined in the IP Notes Indenture, but as each of such Transaction Documents and the IP
Notes Indenture as in effect as of the Closing Date); and 
 (3) liabilities of the IP Subsidiary incurred in its Ordinary Course of
Business (and then, only to the extent permitted under the IP Notes Indenture). 
 ARTICLE V 

ENFORCEMENT 

5.01. Specific Performance. Each Party acknowledges and agrees that money damages may not be an adequate remedy for
any breach or threatened breach of any Transaction Document. In addition to any and all other remedies that the Parties may have, the Parties shall each be entitled to specific performance as a remedy for breach of any covenant, undertaking or
other agreement set forth in any Transaction Document and PBGC, the Company and all Subsidiaries shall be deemed to have consented to specific performance in respect of any such violation and to have waived any objection to the granting of such
relief (provided that such Party is found to have been in violation of any provision of any Transaction Document), to the 

  
 AGREEMENT – Page
28 

 
greatest extent permitted by law; provided, however, that upon the occurrence of a Material Transaction (as defined below), PBGC may not rely on this Section 5.01 in order to seek to
enjoin or otherwise prevent such Material Transaction, it being recognized that PBGC’s sole remedy under the Transaction Documents with respect to such Material Transaction is as set forth in Section 7.04 hereof; provided further,
however, that nothing in the immediately preceding proviso will in any way impair or abrogate any rights or remedies of PBGC arising under ERISA or any other source other than the Transaction Documents, including, without limitation, to seek to
enjoin or otherwise prevent such Material Transaction to the extent it may otherwise do so by operation of law, statute, regulation, or otherwise. 

5.02. Violative Actions Void Ab Initio. Any transactions or other actions in breach of any covenant,
undertaking or other agreement set forth in this Agreement or any other Transaction Document shall be, ab initio, null, void and of no force or effect. 

5.03. Additional Contribution. Subject to Section 5.04, the Company agrees that it shall, within five (5)
Business Days after entry of a Final Injunction Order, make a contribution of cash, cash equivalents, or liquid, marketable, and publicly-traded securities (but in the case of cash equivalents or such securities, only to any extent permitted by
ERISA and any other applicable law) to the Pension Plan (an “Additional Contribution”) in an amount equal to (or with a value of) $100 million; provided, however, that upon the occurrence of a Material Transaction (as defined
below), PBGC may not rely on this Section 5.03 or Section 5.04 in order to seek an Additional Contribution as a result of such Material Transaction, it being recognized that PBGC’s sole remedy under the Transaction Documents with respect to
such Material Transaction is as set forth in Section 7.04 hereof; provided further, however, that nothing in the immediately preceding proviso will in any way impair or abrogate any rights and remedies of PBGC arising under ERISA or any other
source other than the Transaction Documents, including, without limitation, to seek to enjoin or otherwise prevent such Material Transaction to the extent it may otherwise do so by operation of law, statute, regulation, or otherwise. The Additional
Contribution shall be in addition to the minimum required contribution under 26 U.S.C. § 430 for the plan year for which the Additional Contribution is made. 

5.04. Additional Contribution Liability. The Company shall be required to make the Additional Contribution in
accordance with Section 5.03 only if the Company or any of its Subsidiaries, takes, or attempts to take, any action (either, a “Breaching Action”) which: 

(a) is or would be in breach of the Agreement or any other Transaction Document, and the Company does not, within ten (10) Business Days
following delivery of notice of such Breaching Action by PBGC to the Company or any other Sears Party either: (1) cure such breach, provided however that (A) for the purposes of this Section 5.04 only, PBGC shall not assert that such breach is
incurable (but may contest the sufficiency of any cure asserted by the Company), and (B) nothing in the Agreement limits or otherwise impairs PBGC’s rights to assert that any such breach is incurable for purposes of any other provision (or any
other remedy available for the breach of such a provision) of this Agreement or any other Transaction Document, or (2) provides written notice to PBGC that it will not (and, in fact it does not) take such Breaching Action. For the purposes of
providing notice to any Sears Party (other than the Company) under this Section 5.04, PBGC shall direct any such notice to such Sears Party in care of the Company, Attention: General Counsel. Subject to the immediately preceding
sentence, 

  
 AGREEMENT – Page
29 

 
PBGC, in its sole discretion, may provide any notice under this Section 5.04 to any Sears Party, regardless of which Sears Party or Subsidiary has taken or attempted to take the Breaching
Action at issue; 
 (b) reduces or, if consummated, would reasonably be expected to reduce the aggregate value of the Designated Assets held
by the Depositor, the RE Subsidiaries and the IP Subsidiary that may be realized by PBGC (whether as a result of a prohibited Transfer, Distribution or Pledge of any Designated Asset, reduction in the value of any Designated Asset or impairment of
the bankruptcy remoteness or special purpose nature of any of the Depositor, the RE Subsidiaries or the IP Subsidiary, or otherwise) by at least $50 million; and 

(c) is enjoined by a permanent injunction (after reasonable notice to and an opportunity to be heard by the Company) set forth in a Final and
Non-Appealable Order or is determined in a Final and Non-Appealable Order to constitute a breach of this Agreement or such other Transaction Document (a “Final Injunction Order”). 

5.05. Non-Exclusivity of Additional Contribution Liability. Nothing set forth in Sections 5.03 and 5.04,
including, without limitation, payment of the Additional Contribution, will: 
 (a) relieve any Sears Party from, or otherwise mitigate, its
obligation to fully comply with the Final Injunction Order (including, without limitation, any obligation to pay damages to PBGC or the Pension Plan); 

(b) constitute a waiver by PBGC, or cure of, any breach under this Agreement or any other Transaction Document; or 

(c) in any way impair, waive, or abrogate any of PBGC’s remedies under this Agreement, any other Transaction Document (including the
right hereunder to cease Forbearance as provided herein) or applicable law, other than the occurrence of a Springing Lien Event arising from the requirement to make an Additional Contribution. 

5.06. Prefunding Balance Limitation. The Company shall not at any time elect under 26 U.S.C. § 430(f)(6)(B) to create
or to increase any prefunding balance (as defined in 26 U.S.C. § 430(f)(6)) of the Pension Plan by using all or part of any Additional Contribution, or all or any portion of any excess described in 26 U.S.C. § 430(f)(6)(B) that is directly
or indirectly attributable to any Additional Contribution. Such election prohibition is continuing and will survive termination of this Agreement. 

ARTICLE VI 
 SPRINGING
LIEN 
 6.01. Springing Lien Events. Each of the following shall constitute a “Springing
Lien Event”: 
 (a) a Voluntary Bankruptcy Event or an Involuntary Bankruptcy Event; 

  
 AGREEMENT – Page
30 

 (b) a failure by the Company or any of its Subsidiaries to timely make any quarterly installment
or other legally required Pension Plan contribution or any Additional Contribution; 
 (c) other than pursuant to the Limited License, entry
into an agreement by the Company or any Subsidiary providing for (i) the direct or indirect Distribution or Transfer or (ii) the Pledge, in each case of any ownership interest in the Depositor, any RE Subsidiary or the IP Subsidiary, by the Company
or any of its Subsidiaries to any Person other than the Company or any of its Subsidiaries without the Depositor, such RE Subsidiary, or the IP Subsidiary, as applicable, remaining liable for its obligations to PBGC; 

(d) the initiation by the “plan administrator” (as defined in 29 C.F.R. § 4001.2) of the Pension Plan (the “Plan
Administrator”) of a distress termination of the Pension Plan under ERISA Section 4041(c); 
 (e) entry by a court of competent
jurisdiction of a decree under ERISA Section 4042(c)(1) adjudicating that the Pension Plan is terminated; or 
 (f) agreement between PBGC
and the Plan Administrator that the Pension Plan is terminated. 
 6.02. Springing Lien. Upon and continuing after
the occurrence of any Springing Lien Event, each of the Depositor, the RE Subsidiaries and the IP Subsidiary hereby agrees that it will automatically be deemed to have granted to PBGC, on the date of such occurrence and without further action of any
Party or other Person, as security for the Secured Obligations, a lien on and security interest in (the “Springing Lien”) the following: 

(a) the REMIC Certificates; 

(b) the REMIC Properties; 
 (c)
subject to the terms of Section 6.03, the IP Assets; and 
 (d) all proceeds (but with respect to proceeds of IP Assets, subject to
the terms of Section 6.03) in any form and whenever arising (whether arising before, upon, or after such Springing Lien Event), of any of the foregoing set forth in Sections 6.02(a)-(c), including proceeds of proceeds (collectively
with the assets described in Sections 6.02(a)-(c), the “Designated Assets”). 
 6.03. IP Springing Lien
Conditions. If the grant of the Springing Lien respecting the IP Assets (and all proceeds thereof) would constitute a default under the IP Notes Indenture as of the Closing Date, then the Springing Lien as respecting the IP
Assets (and all proceeds thereof) shall be of no force and effect until either: 
 (a) the IP Notes and all other obligations under the IP
Notes Indenture have been paid in full (or the IP Notes and the IP Notes Indenture have otherwise been defeased or fully discharged); or 

(b) the grant of the Springing Lien respecting the IP Assets (and all proceeds thereof) ceases to constitute a default under the IP Notes
Indenture (together with Section 6.03(a), the “IP Springing Lien Conditions”). 

  
 AGREEMENT – Page
31 

 6.04. Secured Obligations. Any Springing Lien arising under Sections
6.02 or 6.03 shall secure any and all claims (whether or not reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, or undisputed) of PBGC for the “unfunded benefit liabilities”
together with interest (the “UBL”) of the Pension Plan under ERISA Section 4062(b)(1)(A) (such claims, the “PBGC UBL Claims”) against the Company and each of its Subsidiaries (the “Secured
Obligations”). For the avoidance of doubt, the Springing Lien shall consensually secure the PBGC UBL Claims in total, without regard to any rights of the Sears Parties or any other members of the Company’s Controlled Group to seek
marshalling or similar remedies. Each Sears Party hereby waives any and all defenses based on marshalling, suretyship or impairment of collateral. 

6.05. Acknowledgement of Joint and Several Liability. Each Sears Party hereby acknowledges, in accordance with
Exhibit 28, (a) that it is a member of the Company’s Controlled Group and (b) its joint and several contingent liability for the PBGC UBL Claims. 

6.06. Reservation of Rights Regarding UBL Determination. Notwithstanding anything to the contrary in this Agreement,
the Parties reserve all rights regarding the determination of UBL, or any determination made on a Termination Basis, including, but not limited to, the applicability, validity, interpretation, and application of PBGC regulations relating thereto.

 6.07. Perfection of Security Interests. 

(a) Escrow Arrangements. The Parties hereby agree to and herein adopt the Escrow Arrangements, which, inter alia, set forth
and govern the Custodian’s rights, obligations, and authority with respect to the Designated Assets. 
 (b) REMIC
Certificates. Upon the occurrence of a Springing Lien Event and determined only at such time, the Springing Lien shall, with respect to the lien on the REMIC Certificates (and all proceeds thereof) be: 

(1) a valid, binding and enforceable lien on and security interest in such REMIC Certificates (and all proceeds thereof) senior to all other
liens except for non-consensual liens which may prime by operation of statute (if any); and 
 (2) perfected (A) through physical
possession of such REMIC Certificates by the Custodian, acting as PBGC’s designated agent, which are to be held in escrow in accordance with the Escrow Arrangements from and after the Closing Date until the occurrence of a Springing Lien Event;
and/or (B) by filing and recordation of the appropriate PBGC RE Perfection Documents upon the occurrence of a Springing Lien Event. 

  
 AGREEMENT – Page
32 

 (c) IP Assets. Upon the occurrence of a Springing Lien Event and determined only at
such time, the Springing Lien shall, with respect to the lien on the Designated Assets consisting of the IP Assets (and all proceeds thereof), be, subject to and conditioned upon the satisfaction of at least one of the IP Springing Lien Conditions:

 (1) a valid, binding and enforceable lien on and security interest in such IP assets (and all proceeds thereof) senior to all other
liens (A) except for the IP Note Liens and non-consensual liens which may prime by operation of statute (if any) and (B) subject to the Limited License; and 

(2) perfected by filing and recordation of the appropriate PBGC IP Perfection Documents upon the occurrence of a Springing Lien Event. 

(d) Real Property. Upon the occurrence of a Springing Lien Event and determined only at such time, the Springing Lien shall, with
respect to the lien on the Designated Assets consisting of the REMIC Properties (and all proceeds thereof) be: 
 (1) a valid, binding and
enforceable lien on and security interest in such REMIC Properties (and all proceeds thereof) senior to all other liens except for the REMIC Mortgages and non-consensual liens which may prime by operation of statute (if any); and 

(2) perfected by filing and recordation of the PBGC Mortgages (together with any state-specific conformations required as of the time of such
filing and recordation upon the occurrence of a Springing Lien Event) and/or the PBGC RE Perfection Documents upon the occurrence of a Springing Lien Event. 

(e) Authority to File. Upon the occurrence of a Springing Lien Event, PBGC may remove any of the PBGC RE Perfection Documents, PBGC IP
Perfection Documents (subject to and conditioned upon the satisfaction of at least one of the IP Springing Lien Conditions), and PBGC Mortgages (collectively, the “PBGC Perfection Documents”) from escrow, file such PBGC Perfection
Documents with applicable government entities, file applicable UCC-1 financing statements, negotiate, execute and record the PBGC Mortgages, and take such other actions, in each case to the extent reasonably necessary to perfect the applicable
Springing Lien and, to the extent in accordance with applicable law and not otherwise expressly restricted by this Agreement, Foreclose on the Designated Assets. 

(f) Custodian Funds; Custodian Fees and Expenses. PBGC shall apply the Deposit solely to reimburse PBGC for its
out-of-pocket costs and expenses incurred in connection with the execution, perfection and recordation of the PBGC Perfection Documents and other security interests related to the Springing Lien. Any unused portion of such Deposit shall be
returned by the Custodian to the Company promptly following the termination of this Agreement. For the avoidance of doubt, the Deposit shall not be released by the Custodian to PBGC until PBGC asserts that a Springing Lien Event has occurred.

 6.08. Rights of Foreclosure. 

(a) When PBGC May Foreclose. Without any limitation to any other rights or remedies of whatever kind or nature PBGC may have (whether
under the Transaction Documents, at law, in equity or otherwise), and notwithstanding anything herein to the contrary, PBGC may foreclose or otherwise enforce the Springing Lien on the Designated Assets (or any portion thereof) (any such foreclosure
or other enforcement, a “Foreclosure”; to take any such action, to “Foreclose”) only: 
 (1) if the Plan
Administrator initiates a distress termination of the Pension Plan under ERISA Section 4041(c); or 
 (2) upon satisfaction of the
following conditions: (A) the Pension Plan is terminated, and (B) within five (5) Business Days after a written demand by PBGC to the Company (or to any other Sears Party, if the Company is a debtor in bankruptcy at the time of any such demand) (the
“PBGC Demand Letter”, which shall include the UBL Documentation), PBGC does not receive payment for the full amount of the PBGC UBL Claims demanded in the PBGC Demand Letter. PBGC’s reasonable estimate of the PBGC UBL Claims
shall suffice for purposes of such demand and PBGC Demand Letter. 
  

  
 AGREEMENT – Page
33 

 (b) Contingent UBL Claims. If, at the conclusion of any Foreclosure instituted in
accordance with Section 6.08(a), the PBGC UBL Claims are contingent, unliquidated or unmatured, then any proceeds of such Foreclosure shall (i) be held by PBGC or its designated agent for the benefit of PBGC in express trust or escrow (as
applicable), and (ii) if invested, then invested as PBGC shall reasonably determine. Such funds shall be held or invested in accordance with the preceding sentence until such time as the PBGC UBL Claims are fixed, matured and fully liquidated,
whereupon such funds may be applied to the PBGC UBL Claims. After application of such funds, such amount (if any) in excess of that required to pay the PBGC UBL Claims in full (provided such PBGC UBL Claims have not become unenforceable by reason of
a lapse of time) shall be remitted to the owner(s) of the Designated Assets subjected to such Foreclosure or as otherwise required by law. If the amount of the PBGC UBL Claims is ultimately determined by Final and Non-Appealable Order (unless
otherwise agreed by PBGC in writing) to be less than PBGC’s reasonable estimate as set forth above, any amounts paid in respect of the PBGC UBL Claims that are in excess of the amount so determined shall be promptly turned over to the owner(s)
of the Designated Assets subjected to the Foreclosure or disposed of as otherwise required by law, together with, to the extent permitted by applicable law, interest and earnings (in either case, if any) on the trust or escrow account. 

6.09. ERISA Lien. Notwithstanding anything herein to the contrary, the Springing Lien shall not be subject to the
collective net worth limit applicable to a statutory lien under ERISA Section 4068 (the “ERISA Lien”). Nothing herein in any way limits PBGC’s rights, if any, to an ERISA Lien. However, any amount PBGC collects pursuant to an
ERISA Lien from any of the RE Subsidiaries, the Depositor or the IP Subsidiary shall serve to reduce the amount owed by such RE Subsidiary, the Depositor or the IP Subsidiary, as applicable, for the PBGC UBL Claims that would otherwise be secured by
the Springing Lien; provided that no amounts collected hereunder, or under any other Transaction Document, pursuant to an ERISA Lien, or otherwise, from any Sears Party will reduce the PBGC UBL Claims or the amount of the Springing Lien
therefor against any other of the foregoing Persons until PBGC has received a single full satisfaction of such claim. 

6.10. Non-Exclusivity of Rights and Remedies. Except as otherwise expressly agreed to herein, nothing in this Agreement or
any other Transaction Document limits or otherwise impairs PBGC’s or the Pension Plan’s rights and remedies, whether by statute, contract, at law, in equity or otherwise. 

  
 AGREEMENT – Page
34 

 6.11. Credit Facility. The Springing Lien shall not extend to such rights
with respect to the IP Assets as are reasonably necessary to permit the lenders, holders or collateral agents under the Credit Facility or the Secured Notes to enforce their rights and remedies under the documents governing such indebtedness with
respect to the collateral securing such indebtedness; provided however that such limitation to the Springing Lien shall apply only to the extent required by the terms of such indebtedness: (i) as currently in effect, or (ii) as set forth in
any amendment, supplement, modification, refinancing or replacement thereof, but only to the extent that the scope of such Springing Lien limitation is not expanded beyond that in effect as of the Closing Date. 

6.12. Termination of Springing Lien. Any Springing Lien shall remain in existence until such time as (i) the PBGC UBL
Claims are paid in full, or become unenforceable by reason of lapse of time or (ii) otherwise terminated in accordance with this Agreement. 

ARTICLE VII 
 PBGC
COMMITMENT 
 7.01. [Intentionally Omitted.]  

7.02. Forbearance. Except as provided in Sections 7.03 and 7.04, PBGC shall forbear from initiating any
involuntary termination of the Pension Plan pursuant to ERISA Section 4042 (the “Forbearance”; to “Forbear”). 

7.03. Forbearance Inapplicable to Compulsory Involuntary Termination. Notwithstanding Section 7.02, the
Forbearance does not limit PBGC’s right to initiate and complete an involuntary termination of the Pension Plan that is based solely on PBGC’s determination (in accordance with then-applicable legal standards) that (a) the Pension Plan
“does not have assets available to pay benefits which are currently due under the terms of the plan” within the meaning of ERISA Section 4042(a) and (b) PBGC is therefore required to initiate termination proceedings pursuant to ERISA
Section 4042(a). 
 7.04. Forbearance Termination. PBGC shall not be required to Forbear if, after the Closing Date
either (a) a Forbearance Termination Event occurs that is continuing and has not been cured at the time of PBGC’s issuance of a notice of determination under 29 U.S.C. § 1342(a) that it is instituting proceedings to terminate the Pension
Plan or (b) the Company or any of its Subsidiaries enters into an agreement providing for a Material Transaction. 
 7.05. UBL
Documentation. If at any time PBGC determines that a Forbearance Termination Event has occurred pursuant to Section 7.06(a)(3) below, PBGC shall provide the Company with the UBL Documentation no less than five (5) Business Days
prior to issuing any notice of determination that the Pension Plan should be terminated except in connection with any involuntary termination described in Section 7.03. During such five (5) Business Day period, PBGC shall, if requested by the
Company in writing, meet and confer with the Company (including for either Party, its selected advisors) and address, in good faith, any issues or questions that the Company may, in good faith, have with respect to the UBL Documentation. Except as
specified in the immediately preceding two sentences, neither PBGC’s provision of the UBL Documentation to the Company nor the Company’s review thereof or response thereto or to such determination will prevent or delay PBGC from pursuing
any and all remedies hereunder, under any other Transaction Document, or under applicable law. 

  
 AGREEMENT – Page
35 

 7.06. Forbearance-Related Definitions. 

(a) Forbearance Termination Event. A “Forbearance Termination Event” means: 

(1) the occurrence of any Springing Lien Event (it being understood that the occurrence of a Springing Lien Event is not subject to cure);

 (2) an event of default under any third-party debt issued by the Company or any Material Subsidiary with an aggregate outstanding
principal amount in excess of $350 million, which event of default (A) results in the acceleration of the maturity date of such debt; or (B) arises from non-payment upon the expiry of such debt’s term and, in either case, such debt remains
outstanding for a period of five (5) calendar days following such acceleration or non-payment; 
 (3) both (A) the Company’s Market
Capitalization is less than $1.0 billion on a fully-diluted basis, determined at market close; and (B) either (1) the UBL of the Pension Plan exceeds $625 million; or (2) both (x) the Pension Plan is less than 80% funded on a Termination Basis and
(y) the UBL of the Pension Plan is greater than $250 million; or 
 (4) any breach by the Company or any of its Subsidiaries of any
applicable representation, warranty, covenant, undertaking or agreement set forth in this Agreement or any other Transaction Document applicable to such entity that (A) PBGC concludes, in its reasonable discretion, constitutes a material breach
(determined by reference to the extent which such breach, individually or when aggregated with all other such breaches, reduces the aggregate value of the Designated Assets held by the Depositor, the RE Subsidiaries and the IP Subsidiary that may be
realized by PBGC (whether as a result of a prohibited Transfer, Distribution or Pledge of any Designated Asset, reduction in the value of any Designated Asset or impairment of the bankruptcy remoteness or special purpose nature of any of the
Depositor, the RE Subsidiaries or the IP Subsidiary, or otherwise)), and (B) if a curable breach, is not cured within three (3) Business Days after notice of such breach has been delivered by PBGC to either the Company, or any other Sears
Party. For the avoidance of doubt, Springing Lien Events are not curable. For the purposes of providing notice to any Sears Party (other than the Company) under this Section 7.06(a)(4), PBGC shall direct any such notice to such
Sears Party in care of the Company, Attention: General Counsel. Subject to the immediately preceding sentence, PBGC, in its sole discretion, may provide any notice under this Section 7.06(a)(4) to any Sears Party, regardless of which
Sears Party or Subsidiary is in breach. 
 (b) Material Transaction. A “Material Transaction” means any
of the following: 
 (1) subject to Section 7.06(c), if the Company’s Market Capitalization is equal to or greater than $1.5
billion, asset dispositions (other than dispositions of equity interests of Subsidiaries, which are addressed in Section 7.06(b)(3)) that are not either (A) fair and reasonable, or (B) the result of an arm’s-length transaction; 

  
 AGREEMENT – Page
36 

 (2) subject to Section 7.06(c), if the Company’s Market Capitalization is less than
$1.5 billion, asset dispositions (other than dispositions of equity interests of Subsidiaries, which are addressed in Section 7.06(b)(3)) that are not both: (A) on terms that are either (1) fair and reasonable or (2) the result of an
arm’s length transaction; and (B) having a total value not in excess of $600 million, as calculated from and after the most recent date on which the Company’s Market Capitalization fell below such threshold (but excluding transactions
required under agreements entered into prior to such date); 
 (3) irrespective of the Company’s Market Capitalization, and subject to
Section 7.06(c), the disposition of equity or other ownership interests of any Subsidiary (including without limitation by means of a rights offering) with total value in excess of $500 million; 

(4) irrespective of the Company’s Market Capitalization, and subject to Section 7.06(c), spinoffs, dividends or share repurchases
with a total value in excess of $250 million; or 
 (5) new financing to or a sale-leaseback by, the Company or any of its Subsidiaries
(including, without limitation, any sale-leaseback of real property or REIT transaction) such that, immediately following such transaction, the amount of outstanding Indebtedness of the Company and its Subsidiaries (for this purpose, including,
without limitation, commitments under revolving credit facilities and letter of credit commitment amounts, but (A) counting Primary Indebtedness only once even if more than one of the Company and its Subsidiaries are obligors thereunder and (B) not
counting Third Party Indebtedness if the obligor under the related Primary Indebtedness is the Company or any of its Subsidiaries) exceeds the amount of outstanding Indebtedness of the Company and its Subsidiaries (for this purpose, including,
without limitation, commitments under revolving credit facilities and letter of credit commitment amounts, but (y) counting Primary Indebtedness only once even if more than one of the Company and its Subsidiaries are obligors thereunder and (z) not
counting Third Party Indebtedness if the obligor under the related Primary Indebtedness is the Company or any of its Subsidiaries) on July 1, 2015 by at least $1.0 billion. 

(c) Material Transaction Carve-Out. Notwithstanding the definition in Section 7.06(b), the following transactions are not
“Material Transactions” and shall not count against any cap calculation set forth in Section 7.06(b): (i) a disposition of inventory and/or other assets held for sale in the Ordinary Course of Business of the Company and its
Subsidiaries; (ii) the REIT Transaction; provided however that no proceeds thereof may be used to effect a transaction as set forth in Section 7.06(b)(4) but without regard to the $250 million transaction cap amount set forth in such Section;
and (iii) any transaction that is solely among the Company and/or any of its Subsidiaries. 
 (d) Material Transaction Cap
Calculations. 
 (1) Any transaction cap amount under Section 7.06(b)(2) shall be calculated as the sum of all transactions in
such section required under agreements entered into during any consecutive 12-month period. 
 (2) Any transaction cap amounts under
Sections 7.06(b)(3) and 7.06(b)(4) shall be calculated as the sum of all transactions in such section required under agreements entered into during any calendar year, with any unused amounts in any calendar year carried forward into
the following calendar year at the Company’s sole discretion; provided that any unused amount with respect to a particular calendar year may not be carried forward to any calendar year other than the immediately following calendar year. 

  
 AGREEMENT – Page
37 

 (e) “Material” for this Agreement Only. Qualification of a transaction as a
“Material Transaction” for the limited purposes of this Agreement shall not constitute an admission by the Company or any of its Subsidiaries that such Material Transaction is material for any other purpose. 

(f) Company’s Market Capitalization. The “Company’s Market Capitalization” means and shall be determined in
the following order of priority as of the relevant date of determination: 
 (1) First, so long as the Specified Shareholders
beneficially own or control, in the aggregate, no more than 88% of the total amount of outstanding fully-diluted shares of the Company’s common stock, the product of (A) the number of fully-diluted shares of the Company’s common stock then
outstanding and (B) the closing price of a share of the Company’s common stock as of the end of the most recently ended trading day as reported by the Nasdaq Stock Market or such successor or other securities exchange on which the
Company’s common stock may then be listed. The Company shall deliver to PBGC the Specified Shareholder common equity ownership totals (to the best of the Company’s knowledge) within three (3) Business Days of receipt of a written request
by PBGC therefor; 
 (2) Second, if PBGC or the Company requests a determination of the Company’s Market Capitalization by
written notice delivered to the other Party and the Specified Shareholders own or control more than 88% of the total amount of outstanding fully-diluted shares of the Company’s common stock, the product of (A) the number of fully-diluted shares
of the Company’s common stock outstanding and (B) the then-current Average Quoted Price; 
 (3) Third, if (A) PBGC requests a
determination of the Company’s Market Capitalization by written notice delivered to the Company, (B) the Specified Shareholders own or control more than 88% of the total amount of outstanding fully-diluted shares of the Company’s common
stock, and (C) an Average Quoted Price cannot be promptly calculated (due to a lack of available quotes or otherwise) within three (3) Business Days after such request, then the Company’s Market Capitalization shall be deemed (for the purposes
of this Agreement only) to be less than $1.0 billion on a fully-diluted basis unless the Company then has issuer ratings (A) by both S&P of CCC- or higher and Moody’s of Caa3 or higher, in which case the Company’s Market Capitalization
shall be deemed to be greater than $1.0 billion but, except as specified in the next sub-clause (B), less than $1.5 billion or (B) by both S&P of CCC or higher and Moody’s of Caa2 or higher, in which case the Company’s Market
Capitalization shall be deemed (for purposes of this Agreement only) to be greater than $1.5 billion, in each case until such time as a subsequent determination of the Company’s Market Capitalization is requested by either PBGC or the Company
and determined in accordance with the procedures set forth herein. 

  
 AGREEMENT – Page
38 

 (4) If either S&P or Moody’s withdraws its rating or otherwise no longer rates the
Company, then, in the circumstances contemplated by Section 7.06(f)(3), the Company’s Market Capitalization shall be deemed (for purposes of this Agreement only) to be less than $1.0 billion on a fully-diluted basis. 

(5) The Company’s Market Capitalization as calculated under Sections 7.06(f)(3) and 7.06(f)(4) shall only be for the
purposes of this Agreement. 
 (g) Average Quoted Price. The “Average Quoted Price” shall be determined from
time-to-time, promptly following a request by PBGC or the Company, as follows: (i) the Company shall solicit and obtain a quoted price per share for a sale of 50,000 shares from each of five independent broker-dealers reasonably acceptable to each
of PBGC and the Company; (ii) the highest and lowest price quotes will be eliminated; and (iii) the Average Quoted Price will be the arithmetic average of the remaining three quotes. 

ARTICLE VIII 

TERMINATION OF AGREEMENT 

8.01. Termination. This Agreement and all other Transaction Documents shall terminate and shall be of no further
effect, and any Springing Lien shall be released upon the earliest to occur of the following: 
 (a) Achievement of 85% Funding. The
Pension Plan achieves an 85% funded level on a Termination Basis as of the last day of two consecutive plan years of the Pension Plan; provided that the Company may, at any time, provide to PBGC a calculation of the Pension Plan’s funding
percentage on a Termination Basis with supporting documentation, and request PBGC’s review thereof and, in such event, PBGC will promptly inform the Company in writing that it agrees or disagrees with such calculation and, if it disagrees with
such calculation, will simultaneously provide the Company with the UBL Documentation relating to such disagreement and a written explanation of the bases upon which it disagrees. During the period five (5) Business Days after so providing such UBL
Documentation and written explanation, PBGC shall, if requested by the Company in writing, meet and confer with the Company (including for either Party, its selected advisors) and address, in good faith, any issues or questions that the Company may,
in good faith, have with respect to the UBL Documentation or such disagreement. 
 (b) Passage of Time. Five years after the
earlier of (i) the Closing Date and (ii) November 3, 2015; provided that, if PBGC has commenced an enforcement action with respect to its rights hereunder or any other Transaction Document, this Agreement, the Transaction Documents, and any
Springing Lien shall not terminate solely as a result of the lapse of time until such enforcement action is finally resolved. 
 (c)
Standard Termination of Pension Plan. The Company completes a standard termination of the Pension Plan. Any such standard termination will be deemed completed for purposes of this Agreement upon the expiration of the Audit Period.

  
 AGREEMENT – Page
39 

 ARTICLE IX 

CLOSING 

9.01. Closing Date. The closing of this Agreement (the “Closing”) shall occur upon the satisfaction (or
written waiver in accordance with Section 11.06) of the Closing Conditions. The Closing shall take place at the offices of Locke Lord LLP, 701 8th Street, N.W., Suite 700, Washington, D.C. 20001, on March 18, 2016, at 10:00 a.m., Eastern
Standard Time, or as otherwise mutually agreed to by the Parties (the “Closing Date”). In no event will there be an extension of the Closing Date unless agreed to by the Parties in writing. 

9.02. Conditions to Closing. The obligations of the Parties are subject to the satisfaction (or written
waiver in accordance with Section 11.06) of the following conditions (the “Closing Conditions”):  

(a) Execution of this Agreement. Each of the Parties shall have executed and delivered to each other Party a counterpart to
this Agreement. 
 (b) Transfer of Regular Interest REMIC Certificates. Each Subsidiary of the Company that owns any regular interest
REMIC Certificates (other than the Depositor) shall have transferred ownership of all such regular interest REMIC Certificates to the Depositor. The Depositor shall have delivered all such certificates, together with undated instruments of transfer,
to the Custodian or PBGC’s designated agent, to be held in escrow on behalf of PBGC in accordance with the escrow arrangements (the “Escrow Arrangements”) attached hereto as Exhibit 11. 

(c) Delivery of PBGC RE Perfection Documents and Powers of Attorney. The Company, the Depositor, and the RE Subsidiaries shall have
executed, and caused to be delivered to the Custodian or PBGC’s designated agent, to be held in escrow on behalf of PBGC in accordance with the Escrow Arrangements, the documents of perfection and the powers of attorney (collectively, the
“PBGC RE Perfection Documents”) in the forms attached hereto as Exhibit 12. 
 (d) Delivery of PBGC
Mortgages and Signature Pages for All REMIC Properties. Each RE Subsidiary that owns, ground leases or sub-ground leases any REMIC Properties shall have with respect to each such REMIC Property delivered to the Custodian or PBGC’s
designated agent, to be held in escrow on behalf of PBGC in accordance with the Escrow Arrangements, pre-executed signature pages with respect to such fee or leasehold mortgages or deeds of trust (collectively, the “PBGC Mortgages”)
in the forms attached hereto as Exhibit 13 (subject to such modifications as PBGC may reasonably determine necessary to account for jurisdiction-specific requirements). 

(e) Appointment of Independent Directors. 

(1) The Lessee shall have appointed a Person identified on Exhibit 17 as each of the independent director of the Depositor (the
“Depositor Independent Director”) and the independent director of SRC O.P. (the “SRC O.P. Independent Director”). 

(2) Each of the Independent Directors shall have executed and delivered (i) to the applicable Sears Party, a counterpart to the CSC Service
Agreement for such Independent Director and (ii) to the Company, a counterpart to the applicable agreement limiting the matters on which such Independent Director may vote in the forms attached hereto as Exhibit 23. 

  
 AGREEMENT – Page
40 

 (f) Amendments to REMIC Organizational Documents. The Depositor and each of the relevant
RE Subsidiaries, as applicable, shall have adopted the amended and restated organizational documents (the “Amended RE Organizational Documents”) attached hereto as Exhibit 16. 

(g) Issuance of REMIC Bring-Down Opinion. The Company shall have caused REMIC Counsel to provide to PBGC a bring-down opinion (the
“RE Bring-Down Opinion”), in the form attached hereto as Exhibit 15. 
 (h) Delivery of PBGC IP Perfection
Documents and Powers of Attorney. The Company and the IP Subsidiary shall have executed, and caused to be delivered to the Custodian or PBGC’s designated agent, to be held in escrow on behalf of PBGC in accordance with the Escrow
Arrangements, the documents of perfection and the powers of attorney (the “PBGC IP Perfection Documents”) attached hereto as Exhibit 20. 

(i) Instruction to Sears Re. The Company and SRe Holding Corporation each shall have executed the instruction letter attached hereto as
Exhibit 29 (the “Sears Re Instruction Letter”), and shall have delivered the executed version of the Sears Re Instruction Letter to Sears Re, with a fully-executed copy to PBGC.  

(j) The IP Independent Manager. 

(1) The Member shall have appointed the Person identified on Exhibit 17 as the Independent Manager (as defined in the Limited
Liability Company Operating Agreement of KCD IP, LLC, as in effect on the Closing Date) of the IP Subsidiary in accordance with the terms of the IP Subsidiary’s existing organizational documents (the “IP Independent Manager”),
and 
 (2) The IP Subsidiary shall have caused an Issuer Order (as defined in the IP Notes Indenture) in the form attached hereto as
Exhibit 22 to be given to the Trustee (as defined in the IP Notes Indenture) (it being understood that the IP Notes Indenture does not, in every instance, obligate the Trustee to adhere to the terms of any Issuer Order). The IP
Subsidiary shall have delivered to PBGC a copy of such Issuer Order. 
 (3) The IP Independent Manager shall have executed and delivered
(i) to the IP Subsidiary, a counterpart to the CSC Service Agreement for the IP Independent Manager; (ii) to the Company, a counterpart to the agreement limiting the matters on which the IP Independent Manager may vote; and (iii) to the IP
Subsidiary, a counterpart to the Management Agreement, the forms of which are attached hereto as Exhibit 23. 

  
 AGREEMENT – Page
41 

 (k) Issuance of IP Bring-Down Opinion. The Company shall have caused IP Subsidiary Counsel
to deliver a bring-down opinion (the “IP Bring-Down Opinion”), in the form attached hereto as Exhibit 15. 

(l) Issuance of Pre-Closing Corporate Opinions. The Company shall have caused counsel reasonably acceptable to PBGC to
deliver corporate opinions with respect to each of the Sears Parties substantially in the forms attached hereto as Exhibit 14. 

(m) Subordination Agreement. Each of the Sears Parties, each of the Other Company Subsidiaries and PBGC shall have entered into the
subordination agreement (the “Subordination Agreement”) attached hereto as Exhibit 21. 
 (n)
Acknowledgment of Liability. Each of the Sears Parties shall have executed the acknowledgement of liability attached hereto as Exhibit 28. 

(o) Deposit. The Company shall have deposited with the Custodian or PBGC’s designated agent, to be held in escrow on behalf of
PBGC in accordance with the Escrow Arrangements, the sum of $250,000 (the “Deposit”) to cover all out-of-pocket costs and expenses of PBGC to be incurred in connection with the execution, perfection and recordation of the PBGC
Perfection Documents and other security interests related to the Springing Lien. 
 (p) All Other Exhibits Attached Hereto. The
Company shall have delivered to PBGC each other Exhibit not referenced above in this Section 9.02. 
 ARTICLE X 

POST-CLOSING MONITORING 

10.01. Company Notification Requirements. From and after the Closing Date, the Company shall, in
addition to all other reporting requirements in this Agreement, all other Transaction Documents, or otherwise required by law, provide PBGC with: 

(a) written notification within five (5) Business Days after any breach by any Sears Party of the terms of this Agreement or any other
Transaction Document, including any representations and warranties herein or therein; 
 (b) (i) all quarterly asset statements for the
Pension Plan within five (5) Business Days after the Company’s receipt thereof; and (ii) the Pension Plan’s Actuarial Valuation Report annually within five (5) Business Days after the earlier of (A) the last day of the ninth calendar month
of the plan year and (B) the date on which such report is received by the Company; 
 (c) prompt written notification of any proposed or
actual replacement of either of the Independent Directors or the IP Independent Manager; provided that (i) the Sears Parties shall not materially prevent or hinder PBGC from having the full right and opportunity to communicate with each of the
Independent Directors and the IP Independent Manager on the matters with respect to which such Independent Director or IP Independent Manager is entitled to vote pursuant to the organizational documents of the applicable Sears Party and (ii) any
post-Closing confidentiality agreement which any of the Independent Directors or the IP Independent 

  
 AGREEMENT – Page
42 

 
Manager enters into with any Sears Party must expressly provide for PBGC’s right to fully and regularly communicate with the Independent Directors and the IP Independent Manager, as
applicable; 
 (d) if the Company is no longer subject to public company reporting requirements, copies of any financial statements,
including any management discussion and analysis statements, annual or quarterly reports, or any other materials that the Company provides to any lender holding Indebtedness with a principal amount in excess of $100 million, whether provided to such
lender on the Company’s behalf or on behalf any other Sears Party; 
 (e) at least ten (10) Business Days prior written notification of
any proposed asset substitutions under Section 11(a) or Section 14(d) of the Master Lease, including the appraised values of the existing and replacement REMIC Properties; 

(f) written notification of any asset sale under Section 14(a) or Section 16 of the Master Lease with proceeds in excess of $200,000,
including proceeds received, the most recent appraisal, the aggregate amount of such asset sales in such calendar year, and the aggregate amount of such asset sales post-Closing, promptly after each such asset sale; 

(g) any and all reporting materials provided to holders of the REMIC Certificates, including any materials required by the REMIC Transactional
Documents, concurrently when such materials are provided to the holders of the REMIC Certificates; 
 (h) any and all reporting materials
provided to holders of the IP Notes, including any materials required by the IP Notes Indenture, concurrently with the provision of such materials to the holders of the IP Notes; 

(i) written notice of any Forbearance Termination Event within five (5) Business Days after its occurrence and within five (5) Business Days
after any discontinuance thereof; 
 (j) written notice of (1) any event of default under any third-party debt with an aggregate outstanding
principal amount in excess of $50 million, or (2) any event that with notice or passage of time, or both, would constitute an event of default under any such third-party debt, within five (5) Business Days after such event of default or event; 

(k) written notice of the Company’s or any Subsidiary’s entry into an agreement providing for a Material Transaction within two (2)
Business Days after such entry; 
 (l) quarterly reports that indicate usage and remaining availability of the assets subject to the
calculations in Sections 7.06(b)(2)-(5); 
 (m) written notice of the occurrence of, and discontinuance, if any, of any Springing
Lien Event, within two (2) Business Days after such occurrence or discontinuance; and 
 (n) written notice by any Sears Party of its entry
into any agreement for the Distribution, Transfer, or Pledge of any ownership interest in the Depositor, any RE Subsidiary, or the IP Subsidiary, within two (2) Business Days after such entry. 

  
 AGREEMENT – Page
43 

 10.02. Noncompliance Notice. If the Company fails to comply with any
requirement set forth in Section 10.01 of this Agreement, PBGC may deliver in writing to the Company a notice of noncompliance (the “Noncompliance Notice”) identifying the requirement in Section 10.01 with which the Company
or any of its Subsidiaries has failed to comply. After the delivery of the Noncompliance Notice, the Company shall have fifteen (15) business days to cure the identified non-compliance. PBGC shall, if requested by the Company in writing,
meet and confer with the Company (including for either Party, its selected advisors) within five (5) Business Days of the delivery of the Noncompliance Notice, and address, in good faith, any issues or questions that the Company may, in good faith,
have with respect to the Noncompliance Notice. Notwithstanding anything to the contrary set forth in this Agreement or any other Transaction Document, absent delivery of a Noncompliance Notice with respect to any failure by the Company to
comply with any requirement set forth in Section 10.01 and expiration of the cure period set forth in this Section 10.02 without timely cure, such failure by the Company shall not constitute a breach under Section 7.06(a)(4) hereof. For the
avoidance of doubt, (a) for purposes of Section 7.06(a)(4), the cure period provided in Section 7.06(a)(4) shall not apply with respect to any such failure to comply with any requirement set forth in Section 10.01, and (b) no cure period provided in
this Agreement or any other Transactional Document is cumulative. 
 ARTICLE XI 

MISCELLANEOUS 

11.01. Notices. Except as otherwise expressly provided herein, all notices, communications, requests or other
correspondence to be given under this Agreement shall be in writing and mailed by registered or certified mail, return receipt requested, postage prepaid, or delivered personally (which shall include delivery by a courier or messenger service) or by
telecopy transmission with confirmation of receipt, as follows: 
  

			
	If to any of the Sears Parties, addressed to:	  	c/o Sears Holdings Corporation
	  	3333 Beverly Road
		  	Hoffman Estates, IL
		  	Attention: General Counsel
		  	Facsimile: (847) 286-2471
		
	with a copy (which shall not constitute notice) to:	  	Wachtell, Lipton, Rosen & Katz
	  	51 West 52nd Street
		  	New York, NY 10019
		  	Attention: Scott K. Charles
		  	Facsimile: (212) 403-2202

  
 AGREEMENT – Page
44 

			
	If to PBGC addressed to:	  	Pension Benefit Guaranty Corporation
	  	Director, Corporate Financing and
		  	Restructuring Department
		  	1200 K Street, N.W., Suite 270
		  	Washington, DC 20005-4026
		  	Facsimile: (202) 842-2643
		
	with a copy (which shall not constitute notice) to:	  	Pension Benefit Guaranty Corporation
	  	Chief Counsel, Office of the Chief Counsel
		  	1200 K Street, N.W., Suite 300
		  	Washington, DC 20005-4026
		  	Facsimile: (202) 326-4112

 Notices given by mail or by personal delivery shall be effective (and deemed to have been given) upon
actual receipt. Notice given by telecopier shall be effective upon actual receipt if received and confirmed by return transmission during the recipient’s normal business hours or at the beginning of the recipient’s next Business Day after
receipt if not received during the recipient’s normal business hours. With respect to any Sears Party (other than the Company), all such Sears Parties acknowledge and agree that the Office of the General Counsel for the Company shall be the
authorized agent for the receipt of any notice hereunder. 
 Any Party may change any address to which notice is to be given to it by giving
notice of such change as provided above. 
 11.02. Governing Law, Jurisdiction and Venue. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York (excluding any conflicts-of-law rule or principle that might refer same to the laws of another jurisdiction). Exclusive venue for any legal action or proceeding based
upon, arising out of, or relating to this Agreement or the transactions contemplated hereby (an “Action”), to the fullest extent permitted by law, shall be in the United States District Court for the Southern District of New York.

 11.03. Currency. All currencies and dollar amounts referenced herein shall be in United States dollars.

 11.04. Waiver of Jury Trial. THE PARTIES DO HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY
AND ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION. 
 11.05. Captions. The captions in this Agreement are for
convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement. 

11.06. Entire Agreement; Amendments and Waivers. This Agreement (inclusive of all Exhibits attached hereto), together
with the other Transaction Documents, constitutes the entire agreement between the Parties pertaining to the subject matter hereof and thereof and supersedes all prior agreements (including the Term Sheet), understandings and discussions, whether
oral or written, of the Parties, and there are no representations, warranties, covenants or agreements 

  
 AGREEMENT – Page
45 

 
between the Parties in connection with the subject matter hereof or thereof except as set forth specifically herein or therein. No supplement, modification or waiver of this Agreement will
be binding unless executed in writing by the Company, PBGC and any other Sears Parties to be bound thereby and expressly referencing this Agreement. No waiver of any of the provisions of this Agreement will be deemed or will constitute a waiver
of any other provision hereof (regardless of whether similar) nor will any such waiver constitute a continuing waiver unless otherwise expressly provided. 

11.07. No Waiver of Breach. The waiver by either Party of a breach or violation of any provision of this Agreement
will not operate as or be construed to be a waiver of any subsequent breach of any provision of this Agreement. The obligations of the Sears Parties under each Transaction Document shall be absolute and unconditional irrespective of any lack of
validity or enforceability of such Transaction Document, any PBGC Perfection Document or any other document or instrument executed and delivered in connection with such Transaction Document, any defense or counterclaim whatsoever on the part of any
Sears Party (in any case, whether based on contract, tort or any other theory), any circumstance whatsoever with respect to such Transaction Document, or any legal or equitable defense available to any Sears Party, and each Sears Party hereby
irrevocably waives the right to assert any such defenses, setoffs or counterclaims in any litigation or other proceeding relating to any Transaction Document, any PBGC Perfection Document or any other document or instrument executed and delivered in
connection with any Transaction Document. 
 11.08. Severability, Substantive Error. If any one or more of the
provisions contained in this Agreement or in any document delivered pursuant hereto shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provision of this Agreement or any other such document. Moreover, if any Party hereto identifies a substantive error with respect to this Agreement or any other Transaction Document, the Parties shall promptly negotiate in good faith to address
such error (including, if necessary, by amending such document(s)) so as to, as nearly and fairly as possible, approximate the economic and legal substance originally intended. 

11.09. Further Assurances. After Closing, the Parties shall take all appropriate action and execute any documents,
instruments or conveyances of any kind that may be reasonably necessary to effectuate the intent of this Agreement. 

11.10. Multiple and Electronic Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument. A manual signature on this Agreement or other documents to be delivered pursuant to this Agreement, an image of which shall have been
transmitted electronically, will constitute an original signature for all purposes. The delivery of copies of this Agreement or other documents to be delivered pursuant to this Agreement, including executed signature pages where required, by
electronic transmission will constitute effective delivery of this Agreement or such other document for all purposes. 

11.11. Time of the Essence. The Parties acknowledge and agree that time is of the essence hereunder. 

  
 AGREEMENT – Page
46 

 11.12. Public Disclosure. The content of the press releases to be issued
promptly following the Closing relating to the terms of this Agreement and the other Transaction Documents shall be substantially in the form attached hereto as Exhibit 26. No Party may issue any other press release or public
disclosure regarding this Agreement or any of the other Transaction Documents except (a) as to which the timing and content shall have been mutually agreed by the Company and PBGC prior to the time of such disclosure or release or (b) as required by
applicable law or compulsory legal process or in connection with any pending legal proceeding (in which case each of the Company and PBGC agrees, to the extent permitted by applicable law, to inform the other promptly thereof such that the other may
reply or otherwise respond as it deems necessary or advisable). 
 11.13. U.S. Bank Trust Association. It is
expressly understood and agreed by the Parties that with respect to any Transaction Document to which U.S. Bank Trust National Association is a party (including, without limitation, this Agreement), (a) such Transaction Document is executed and
delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the SRC Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and
agreements therein made on the part of the SRC Trust, SRC R.E. and SRC Holdings is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of
binding only the SRC Trust, SRC R.E. and SRC Holdings, (c) nothing herein contained or in any Transaction Document shall be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any
covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the Parties hereto, (d) U.S. Bank Trust National Association has made no investigation as to the accuracy or completeness of any
representations and warranties made by the SRC Trust, SRC R.E. and SRC Holdings in this Agreement or any other Transaction Document and (e) under no circumstances shall U.S. Bank Trust National Association be personally liable for the payment of any
indebtedness or expenses of the SRC Trust, SRC R.E. or SRC Holdings or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the SRC Trust, SRC R.E. or SRC Holdings under this Agreement,
any Transaction Document, or any other related document. 

  
 AGREEMENT – Page
47 

 IN WITNESS WHEREOF, the Parties hereby execute this Agreement as of the date first written above.

  

			
	SEARS HOLDINGS CORPORATION
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC O.P. CORPORATION
		
	By:	 	  

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC REAL ESTATE (TX), LP
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
		
	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to PPPFA]

 IN WITNESS WHEREOF, the Parties hereby execute this Agreement as of the date first written above.

  

			
	SEARS HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC O.P. CORPORATION
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC REAL ESTATE (TX), LP
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
		
	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to PPPFA]

 IN WITNESS WHEREOF, the Parties hereby execute this Agreement as of the date first written
above. 
  

			
	SEARS HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC O.P. CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC REAL ESTATE (TX), LP
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
		
	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	 /s/ JOSE A. GALARZA

	Name:	 	JOSE A. GALARZA
	Title:	 	VICE PRESIDENT

  
 [Signature Page to PPPFA]

			
	SRC REAL ESTATE HOLDINGS (TX), LLC
		
	By:	 	 SRC FACILITIES STATUTORY
 TRUST NO. 2003-A, a
Delaware
 statutory trust acting only with respect to
 the
applicable SUBI Portfolio, its sole
 member

		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	 /s/ JOSE A. GALARZA

	Name:	 	JOSE A. GALARZA
	Title:	 	VICE PRESIDENT
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
		
	By:	 	 /s/ JOSE A. GALARZA

	Name:	 	JOSE A. GALARZA
	Title:	 	VICE PRESIDENT
	
	SEARS ROEBUCK AND CO.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	KCDIP, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to PPPFA]

			
	SRC REAL ESTATE HOLDINGS (TX), LLC
		
	By:	 	 SRC FACILITIES STATUTORY
 TRUST NO. 2003-A, a
Delaware
 statutory trust acting only with respect to
 the
applicable SUBI Portfolio, its sole
 member

		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SEARS ROEBUCK AND CO.
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer
	
	KCDIP, LLC
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President

  
 [Signature Page to PPPFA]

			
	SEARS BRANDS, L.L.C.
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President

  
 [Signature Page to PPPFA]

			
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Morris

	Name:	 	Karen L. Morris
	Title:	 	Acting CNR

  
 [Signature Page to PPPFA]

 Exhibit 1 

All Direct and Indirect Subsidiaries of the Company 

[See Attached] 

											
	 Entity Name
	  	Domestic Jurisdiction	  	 Owner Name
	  	 Security Name
	  	Percent Owned	 
	A&E Factory Service, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	A&E Home Delivery, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	A&E Lawn & Garden, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	A&E Signature Service, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Big Beaver Development Corporation	  	Michigan	  	Kmart Corporation	  	Common	  	 	100.000000	  
	Big Beaver of Florida Development, LLC	  	Florida	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	BlueLight.com, Inc.	  	Delaware	  	KBL Holding Inc.	  	Common	  	 	100.000000	  
	Bub, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	California Builder Appliances, Inc.	  	Delaware	  	FBA Holdings Inc.	  	Common	  	 	100.000000	  
	Community Revitalization Fund, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Countrywide Logistics Services LLC	  	Delaware	  	Innovel Solutions, Inc.	  	Percentage Ownership Interest	  	 	100.000000	  
	FBA Holdings Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Florida Builder Appliances, Inc.	  	Delaware	  	FBA Holdings Inc.	  	Common	  	 	100.000000	  
	Innovel Solutions, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	International Sourcing & Logistics Limited	  	Hong Kong	  	Sears Holdings Global Sourcing Limited	  	Percentage Ownership Interest	  	 	100.000000	  
	KBL Holding Inc.	  	Delaware	  	Kmart Corporation	  	Common	  	 	100.000000	  
	KCD IP, LLC	  	Delaware	  	Sears Brands, L.L.C.	  	Percentage Ownership Interest	  	 	100.000000	  
	KLC, Inc.	  	Texas	  	Kmart Corporation	  	Common	  	 	100.000000	  
	KM Kelley Group LLC	  	Delaware	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	KMart 3233 Rockford, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Kmart Corporation	  	Michigan	  	Kmart Holding Corporation	  	Common	  	 	100.000000	  
	Kmart Corporation of Illinois, Inc.	  	Illinois	  	Kmart Corporation	  	Common	  	 	100.000000	  
	Kmart Holding Corporation	  	Delaware	  	Sears Holdings Corporation	  	Common	  	 	100.000000	  
	Kmart International Services, Inc.	  	Delaware	  	Kmart Corporation	  	Common	  	 	100.000000	  
	Kmart of Michigan, Inc.	  	Michigan	  	Kmart Corporation	  	Common	  	 	100.000000	  
	Kmart of Washington LLC	  	Washington	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Kmart Operations LLC	  	Delaware	  	Sears Holdings Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Kmart Operations of Michigan LLC	  	Michigan	  	Kmart Operations LLC	  	Percentage Ownership Interest	  	 	100.000000	  
	Kmart Overseas Corporation	  	Nevada	  	Kmart Corporation	  	Common	  	 	100.000000	  
	Kmart Stores of Illinois LLC	  	Illinois	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Kmart Stores of Texas LLC	  	Texas	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Kmart.com LLC	  	Delaware	  	BlueLight.com, Inc.	  	Percentage Ownership Interest	  	 	100.000000	  
	Manage My Home, Inc.	  	Federally Chartered	  	Sears Holdings Management Corporation	  	Common	  	 	100.000000	  

											
	Marin Access LLC	  	Delaware	  	Kmart.com LLC	  	Percentage Ownership Interest	  	 	100.000000	  
	MaxServ, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Media Momentum, Inc.	  	Michigan	  	Kmart Corporation	  	Common	  	 	100.000000	  
	MetaScale LLC	  	Delaware	  	Sears Holdings Management Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	MyGofer LLC	  	Delaware	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	NPK Cordova LLC	  	Delaware	  	NPK Development I, LLC	  	Percentage Ownership Interest	  	 	100.000000	  
	NPK Development I, LLC	  	Delaware	  	Troy Coolidge No. 21, LLC	  	Percentage Ownership Interest	  	 	80.000000	  
	NPK Southaven LLC	  	Delaware	  	NPK Development I, LLC	  	Percentage Ownership Interest	  	 	100.000000	  
	NPK Winchester LLC	  	Delaware	  	NPK Development I, LLC	  	Percentage Ownership Interest	  	 	100.000000	  
	Private Brands, Ltd.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Quality Assurance Laboratory Limited	  	Hong Kong	  	Sears Holdings Global Sourcing Limited	  	Percentage Ownership Interest	  	 	100.000000	  
	Ravenswood1010, LLC	  	Illinois	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	S.F.P.R., Inc.	  	Puerto Rico	  	Kmart Corporation	  	Common	  	 	100.000000	  
	Sears Authorized Independent Auto Centers LLC	  	Delaware	  	Sears Holdings Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears Brands Business Unit Corporation	  	Illinois	  	Sears Holdings Management Corporation	  	Common	  	 	100.000000	  
	Sears Brands Management Corporation	  	Delaware	  	Sears Buying Services, Inc.	  	Common	  	 	100.000000	  
	Sears Brands, L.L.C.	  	Illinois	  	Sears Brands Business Unit Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears Buying Services, Inc.	  	Delaware	  	Sears Brands Business Unit Corporation	  	Common	  	 	100.000000	  
	Sears Canada Holdings Corp.	  	Delaware	  	Sears International Holdings Corp.	  	Common	  	 	100.000000	  
	Sears DC Corp.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Development Co.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Development Co.	  	Delaware	  	Sears, Roebuck and Co.	  	Preferred	  	 	100.000000	  
	Sears Financial Holding Corporation	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Global Technologies India Private Limited	  	Maharashtra	  	Sears Holdings Management Corporation	  	Equity	  	 	5.000000	  
	Sears Global Technologies India Private Limited	  	Maharashtra	  	Sears, Roebuck and Co.	  	Equity	  	 	95.000000	  
	Sears Global Technology Services LLC	  	Delaware	  	Sears IT & Management Services India Private Limited	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears Grand, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears Holdings Global Sourcing Limited	  	Hong Kong	  	Kmart Overseas Corporation	  	Ordinary	  	 	100.000000	  
	Sears Holdings Global Sourcing Ltd.	  	Korea	  	Sears Holdings Global Sourcing Limited	  	Common	  	 	100.000000	  
	Sears Holdings Management Corporation	  	Delaware	  	Kmart Holding Corporation	  	Common	  	 	20.000000	  
	Sears Holdings Management Corporation	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	80.000000	  
	Sears Holdings Mauritius Holding Company	  	Mauritius	  	Sears Holdings Management Corporation	  	Ordinary	  	 	0.012704	  
	Sears Holdings Mauritius Holding Company	  	Mauritius	  	Sears, Roebuck and Co.	  	Ordinary	  	 	99.987296	  
	Sears Holdings Publishing Company, LLC  	  	Illinois	  	Sears Procurement Services, Inc.	  	Percentage Ownership Interest	  	 	100.000000	  

											
	Sears Home & Business Franchises, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Home Improvement Products, Inc.	  	Pennsylvania	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Home Services, L.L.C.	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears Insurance Services, L.L.C.	  	Illinois	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears International (Barbados), Inc.	  	Barbados	  	Sears Brands Management Corporation	  	Common	  	 	100.000000	  
	Sears International Holdings Corp.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Investment Management Co.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears IT & Management Services India Private Limited	  	Maharashtra	  	Sears Holdings Management Corporation	  	Equity	  	 	5.015846	  
	Sears IT & Management Services India Private Limited	  	Maharashtra	  	Sears Holdings Mauritius Holding Company	  	Equity	  	 	94.984154	  
	Sears Mexico Holdings Corp.	  	Delaware	  	Sears International Holdings Corp.	  	Common	  	 	100.000000	  
	Sears Operations LLC	  	Delaware	  	Sears Holdings Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears Procurement Services, Inc.	  	Illinois	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Protection Company	  	Illinois	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Protection Company (Florida), L.L.C.	  	Florida	  	Sears Protection Company	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears Protection Company (PR), Inc.	  	Puerto Rico	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Reinsurance Company Ltd.	  	Bermuda	  	SRe Holding Corporation	  	Common	  	 	100.000000	  
	Sears Roebuck Acceptance Corp.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Shop at Home Services, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Sears Sourcing India Private Limited	  	Haryana	  	Kmart Overseas Corporation	  	Common	  	 	4.308741	  
	Sears Sourcing India Private Limited	  	Haryana	  	Sears Holdings Global Sourcing Limited	  	Common	  	 	95.691259	  
	Sears World Trade Comercial Limitada	  	Brazil	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Sears, Roebuck and Co.	  	New York	  	Sears Holdings Corporation	  	Common	  	 	100.000000	  
	Sears, Roebuck de Puerto Rico, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	Searsvale Acquisition LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Seritage Realty Trust I LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Seritage Realty Trust II LLC	  	Delaware	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	ServiceLive, Inc.	  	Delaware	  	Sears Holdings Corporation	  	Common	  	 	100.000000	  
	SHC Charitable Promotions LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	SHC Desert Springs, LLC	  	Delaware	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	SHC Financial, LLC	  	Delaware	  	Sears Holdings Management Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	SHC Israel Ltd.	  	Israel	  	Sears Holdings Management Corporation	  	Ordinary	  	 	100.000000	  
	SHC Licensed Business LLC	  	Delaware	  	Sears Holdings Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	SHC Promotions LLC	  	Virginia	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Sheboygan Outlot Acquisition LLC 	  	Delaware	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  

											
	SHMC Beverly Group LLC	  	Delaware	  	Sears Holdings Management Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Shop Your Way Local, LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Shop Your Way, Inc.	  	Delaware	  	Sears Brands Business Unit Corporation	  	Common	  	 	100.000000	  
	SJC-I, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	SOE, Inc.	  	Delaware	  	FBA Holdings Inc.	  	Percentage Ownership Interest	  	 	100.000000	  
	SR Sutton Group LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	SRC Depositor Corporation	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	SRC Facilities Statutory Trust No. 2003-A	  	Delaware	  	SRC O.P. Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	SRC Harlem North Redevelopment, LLC	  	Illinois	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	SRC O.P. Corporation	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	SRC Real Estate (TX), LP	  	Delaware	  	SRC Facilities Statutory Trust No. 2003-A	  	Percentage Ownership Interest	  	 	99.900000	  
	SRC Real Estate (TX), LP	  	Delaware	  	SRC Real Estate Holdings (TX), LLC	  	Percentage Ownership Interest	  	 	0.100000	  
	SRC Real Estate Holdings (TX), LLC	  	Delaware	  	SRC Facilities Statutory Trust No. 2003-A	  	Percentage Ownership Interest	  	 	100.000000	  
	SRe Holding Corporation	  	Delaware	  	Sears Holdings Corporation	  	Common	  	 	100.000000	  
	ST Holdings, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Common	  	 	100.000000	  
	ST Holdings, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Series A Preferred	  	 	100.000000	  
	ST Holdings, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Series B Preferred	  	 	100.000000	  
	ST Holdings, Inc.	  	Delaware	  	Sears, Roebuck and Co.	  	Series C Preferred	  	 	100.000000	  
	StarWest, LLC	  	Delaware	  	FBA Holdings Inc.	  	Percentage Ownership Interest	  	 	100.000000	  
	STATE INTERACTIVE LLC	  	Delaware	  	Sears Holdings Management Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	STI Merchandising, Inc.	  	Michigan	  	Kmart Corporation	  	Common	  	 	100.000000	  
	The Sears-Roebuck Foundation	  	Illinois	  	Brathwaite, Christian E.	  	Percentage Ownership Interest	  	 	33.333300	  
	The Sears-Roebuck Foundation	  	Illinois	  	Carter, Dean E.	  	Percentage Ownership Interest	  	 	33.333300	  
	The Sears-Roebuck Foundation	  	Illinois	  	Cavnar, James	  	Percentage Ownership Interest	  	 	33.333300	  
	Troy Coolidge No. 1, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 10, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 12, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 13, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 14, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 15, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 17, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 18, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 19, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 2, LLC 	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  

											
	Troy Coolidge No. 20, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 21, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 22, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 23, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 30, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 32, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 36, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 37, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 4, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 42, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 45, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 46, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 5, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 50, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 53, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 58, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 59, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 62, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Troy Coolidge No. 7, LLC	  	Michigan	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  
	Ubiquity Critical Environments I LLC	  	Delaware	  	Sears, Roebuck and Co.	  	Percentage Ownership Interest	  	 	100.000000	  
	Ubiquity Critical Environments II LLC	  	Delaware	  	Kmart Corporation	  	Percentage Ownership Interest	  	 	100.000000	  

 Exhibit 2 

Underlying Documents and Changes Thereto 

[See Attached] 

 Exhibit 2 

Underlying Documents 

(Preliminary) 
 KCD IP Notes Documents:

 1. Indenture, dated as of May 18, 2006, between KCD IP, LLC, as issuer, and U.S. Bank National Association, as trustee. 

2. Management Agreement, dated as of May 18, 2006, between KCD IP, LLC and Sears Intellectual Property Management Company 

3. Back-up Management Agreement, dated as of May 18, 2006, among Ocean Tomo, LLC, KCD IP, LLC and U.S. Bank National Association 

4. Contribution Agreement, dated as of May 18, 2006, between Sears Brands, LLC and KCD IP, LLC 

5. KCD IP, LLC Management Agreement, dated as of May 18, 2006 

6. Servicing Agreement, dated as of May 18, 2006, between Sears Holdings Management Corporation and U.S. Bank National Association 

7. Note Purchase Agreement, dated as of May 18, 2006, KCD IP, LLC, Sears Reinsurance Company Ltd. and Sears Financial Holding Corporation 

8. Notes issued pursuant to items 1 and 6 above. 
 It is
understood and agreed by all Parties to this Agreement that the Sears Parties have not provided copies of all supplements entered into for purposes of integrating additional intellectual property and/or acknowledging the release of intellectual
property in accordance with the terms of the documents listed in this section. 
 REMIC Documents: 

1. Subscription and Contribution Agreement, dated as of November 24, 2003, between Sears, Roebuck and Co. and SRC O.P. Corporation 

2. Contribution Agreement, dated as of November 24, 2003, between SRC O.P. Corporation and SRC Facilities Statutory Trust No. 2003-A 

3. Contribution Agreement, dated as of November 24, 2003, between SRC Facilities Statutory Trust No. 2003-A and SRC Real Estate (TX), LP 

4. Associated capitalization notes. 

 5. Participation Agreement, dated as of November 24, 2003, among SRC O.P. Corporation, U.S. Bank Trust
National Association, SRC Facilities Statutory Trust No. 2003-A, SRC Real Estate (TX), LP, Sears, Roebuck and Co., SRC Depositor Corporation and Wells Fargo Bank Minnesota, N.A. 

6. Master Lease Agreement, dated as of November 24, 2003, among SRC O.P. Corporation, SRC Facilities Statutory Trust No. 2003-A, SRC Real Estate
(TX), LP and Sears, Roebuck and Co. 
 7. Master Loan Agreement, dated as of November 24, 2003, among SRC O.P. Corporation, SRC Facilities Statutory
Trust No. 2003-A, SRC Real Estate (TX), LP, Wells Fargo Bank Minnesota, N.A. and SRC Depositor Corporation 
 8. Related mortgages or deeds of trust on
substantially all REMIC Properties. 
 9. Private Placement Agreement, dated as of November 24, 2003, among SRC Depositor Corporation, Sears, Roebuck
and Co. and Deutsche Bank Securities Inc. 
 10. Certificate Purchase Agreement, dated as of November 24, 2003, between SRC Depositor Corporation and
Sears Financial Holding Corporation 
 11. Pooling and Servicing Agreement, dated as of November 24, 2003, among SRC Depositor Corporation, Sears,
Roebuck and Co. and Wells Fargo Bank Minnesota, N.A. 
  

	12.	REMIC certificates issued thereunder. 

  

	13.	Recent title reports on substantially all REMIC Properties. 

  

	14.	Limited Waiver 

  

	15.	First Amendment to Master Lease Agreement 

 It is understood and agreed by all Parties to this Agreement that
the Sears Parties have not provided copies of all supplements entered into for purposes of accomplishing substitutions of REMIC Properties, together with limited waivers executed in connection therewith that do not modify the continuing terms of the
documents listed in this section. 
 Changes, Waivers, or Amendments to the Underlying Documents between September 4, 2014 and the Closing Date

 See (i) Limited Waiver attached as Exhibit 24 and (ii) attached First Amendment to Master Lease Agreement. 

Other than (i) Limited Waiver and (ii) First Amendment to Master Lease Agreement, none. It is understood and agreed by all Parties to this Agreement that the
Sears Parties have not provided copies of all supplements entered into for purposes of accomplishing substitutions of REMIC Properties, together with limited waivers executed in connection therewith that do not modify the continuing terms of the
documents listed in the preceding sections. It is also understood and agreed by all Parties to this Agreement that the Sears Parties have not provided copies of all supplements entered into for purposes of integrating additional intellectual
property and/or acknowledging the release of intellectual property in accordance with the terms of the documents listed in the preceding sections. 

  
 - 2 - 

 EXECUTION VERSION 

FIRST AMENDMENT TO THE 

MASTER LEASE AGREEMENT 

THIS FIRST AMENDMENT TO THE MASTER LEASE AGREEMENT, made and entered as of March 18, 2016 (this “Amendment”), between (a) (i)
in the case of any Site located in the State of Maryland, as to matters relating to the Site or the Site Lease, SRC O.P. CORPORATION, a Delaware corporation and as to matters relating to the related Mortgage Note, SRC Facilities Statutory Trust No.
2003-A, a Delaware statutory trust, acting on behalf of the applicable SUBI Portfolio; (ii) in the case of any Site located in the State of Texas, SRC REAL ESTATE (TX), LP, a Delaware limited partnership; or (iii) in the case of any other Site, SRC
Facilities Statutory Trust No. 2003-A, a Delaware statutory trust, acting on behalf of the applicable SUBI Portfolio, in each case as lessor (each, as applicable, the “Lessor”), (b) SEARS, ROEBUCK AND CO., as lessee (the
“Lessee”) and as document custodian, master servicer and special servicer (the “Servicer”), and (c) SRC DEPOSITOR CORPORATION, a Delaware corporation (the “Depositor” and, together with each Lessor,
the Lessee and the Servicer, the “Parties”). Capitalized terms used but not defined herein have the meanings provided in the Agreement (as defined below). 

WHEREAS, each Lessor and the Lessee entered into that certain Master Lease Agreement, dated as of November 24, 2003 (as may be further
amended, supplemented, modified or restated from time to time, the “Agreement”); 
 WHEREAS, pursuant to Section
22(a) of the Agreement, the parties hereto desire to amend the Agreement; 
 WHEREAS, the Parties entered into various other Operative
Documents pursuant to which each of the Sites was contributed to the applicable Lessee and certain Mortgage Loans, secured by certain Mortgages, were made to the applicable Lessor; 

WHEREAS, pursuant to a Pooling and Servicing Agreement, dated as of November 24, 2003 (the “PSA”), between the Depositor, the
Servicer and Wells Fargo Bank, N.A. (formerly known as Wells Fargo Bank Minnesota, N.A.), the Mortgage Loans were contributed to a trust and such trust issued Certificates (as defined in the PSA) backed by the Mortgage Loans, which Certificates are
held by the Depositor; 
 WHEREAS, pursuant to the terms of the PSA, the Servicer is permitted to consent to waivers of the terms of the
Mortgage Loans; 
 WHEREAS, Sears Holdings Corporation, a Delaware corporation (the “Parent”), the Parties, certain other
subsidiaries of the Parent and the Pension Benefit Guaranty Corporation have entered into a Pension Plan Protection and Forbearance Agreement, dated as of the date hereof (the “PPPFA”); 

WHEREAS, certain of the transactions contemplated by the PPPFA and the other Transaction Documents (as defined in the PPPFA) constitute
defaults under certain of the Operative Documents and/or the PSA (the “Transaction Defaults”); and 

 WHEREAS, subject to the terms and conditions set forth herein, each of the Parties has agreed to
waive the Transaction Defaults. 
 NOW, THEREFORE, in consideration of the premises and the other mutual covenants contained herein, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows: 
 Section
1. Substitution. 
 The last sentence of Section 14(d) of the Agreement is hereby amended by adding the following phrase: 

“provided, however, that Lessee shall have until the date that is 120 days following the date of the applicable substitution in
order to deliver the following with respect to each Substitute Site: (i) a survey and title policies (owner’s and mortgagee’s) (ii) environmental reports and reliance letters; and (iii) UCC, tax lien and judgment searches; provided
further that the aggregate value (determined, with respect to each property, by reference to an appraisal effective on or about the date of the applicable substitution) of the properties for which the items set forth in the immediately preceding
proviso have not been delivered shall not at any time exceed $50,000,000; 
 Section 2. Lessee’s Grants and Releases of
Easements. 
 The first sentence of Section 14(f) of the Agreement is hereby amended by adding the following phrase:

“provided, further, that Lessee shall not be required to deliver the foregoing certification with respect to amendments to
reciprocal easement agreements, declarations, supplemental agreements, and other similar agreements (each, as applicable, the “REA Agreement”), so long as the applicable amendment does not modify the burdens or benefits under such
REA Agreement with respect to the applicable Site or otherwise increase the obligations or decrease the rights of the Lessor or the Lessee under such REA Agreement.” 

Section 3. Waiver. 

(a) The Parties acknowledge and agree that the Transaction Defaults, with the giving of notice and/or the passage of time, could constitute
defaults under some or all of the Operative Documents and/or the PSA. Subject to the satisfaction of the conditions set forth in Section 3(b) hereof, each Party hereby agrees to waive the Transaction Defaults. 

(b) Lessee agrees to indemnify, defend and hold harmless each of the other Parties from any third party liabilities, demands, actions, causes
of action, suits, claims, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees, court costs and litigation expenses) suffered or incurred by any of the Lessors as a result of or in connection with any
of the Transaction Defaults set forth herein. 
 (c) The Parties agree that the limited waiver set forth in this Agreement shall be limited
precisely as written to the Transaction Defaults set forth herein. Except as expressly set forth in this Section 3, the limited waiver set forth in this Section 3 shall not be deemed to be a consent to any amendment, waiver, or modification of
any other term or condition of the Agreement, any of the other Operative Documents or the PSA. 

  
 2 

 Section 4. Agreement in Full Force and Effect as Amended. 

Except as specifically amended hereby, the Agreement, the other Operative Documents and the PSA shall remain in full force and
effect. All references to the Agreement, the other Operative Documents and/or the PSA shall be deemed to mean the Agreement, the other Operative Documents and/or the PSA as modified hereby. The parties hereto agree to be bound, to the
extent applicable by the terms and conditions of the Agreement, the other Operative Documents and the PSA as amended by this Amendment, as though such terms and conditions were set forth herein. 

Section 5. Conditions Precedent. 

The Security Trustee acknowledges and consents to the terms of this Amendment. This Amendment shall not be effective until having been duly
executed by, and delivered to, the parties hereto, with the Acknowledgement and Consent fully executed. 
 Section 6. Capacity of
Trustee. 
 It is expressly understood and agreed by the parties hereto that (a) this Amendment is executed and delivered by U.S.
Bank Trust National Association, not individually or personally but solely as trustee of the Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on
the part of any Lessor is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of binding only such Lessor, (c) nothing herein contained shall
be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties
hereto, (d) U.S. Bank Trust National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by any Lessor in this Amendment and (e) under no circumstances shall U.S. Bank Trust National
Association be personally liable for the payment of any indebtedness or expenses of any Lessor or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by any Lessor under this Amendment or
any other related document. 
 Section 7. Miscellaneous. 

(a) This Amendment may be executed in any number of counterparts, and by the different Parties on the same or separate counterparts, each of
which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. Each of the Parties agrees that a signature transmitted to the other Parties or their respective counsel by facsimile
transmission or by “.PDF” shall be as effective to bind the Party whose signature was transmitted as a duly executed and delivered original. 

  
 3 

 (b) The descriptive headings of the various sections of this Amendment are inserted for
convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof. 
 (c) Each
provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any specific provision. 

[SIGNATURES FOLLOW ON NEXT PAGE] 

  
 4 

 IN WITNESS WHEREOF, each Lessor and the Lessee have caused this Amendment to be duly executed by
their respective officers all as of the day and year first above written. 
  

									
	LESSORS:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	JOSE A. GALARZA
		 	Title:	 	VICE PRESIDENT
	
	SRC REAL ESTATE (TX), LP, a Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	JOSE A. GALARZA
		 		 		 	Title:	 	VICE PRESIDENT
	
	SRC O.P. Corporation, a Delaware corporation
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Amendment] 

 IN WITNESS WHEREOF, each Lessor and the Lessee have caused this Amendment to be duly executed by
their respective officers all as of the day and year first above written. 
  

									
	LESSORS:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	SRC REAL ESTATE (TX), LP, a Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
	
	SRC O.P. Corporation, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

		 	Name:	 	Scott E. Huckins
		 	Title:	 	Vice President

  
 [Signature Page to
Amendment] 

 
			
	LESSEE AND SERVICER:
	
	SEARS, ROEBUCK AND CO.,
	a New York corporation
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer

  
 [Signature Page to
Amendment] 

 
			
	DEPOSITOR:
	
	 SRC DEPOSITOR CORPORATION,
 a
Delaware corporation

		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

  
 [Signature Page to
Amendment] 

 ACKNOWLEDGMENT AND CONSENT 

The undersigned certificateholder of the SRC Commercial Mortgage Trust 2003-1 and the Security Trustee acknowledge and consent to the terms of
the attached Amendment. 
  

			
	SECURITY TRUSTEE:
	
	WELLS FARGO BANK, N.A.
		
	By:	 	Sears, Roebuck and Co., as Master Servicer under the Pooling and Servicing Agreement dated November 24, 2003
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	 Robert A. Riecker

	Its:	 	 Vice President, Controller and Chief Accounting Officer

	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	 Scott E. Huckins

	Title:	 	 Vice President

  
 [Signature Page to
Amendment] 

 ACKNOWLEDGMENT AND CONSENT 

The undersigned certificateholder of the SRC Commercial Mortgage Trust 2003-1 and the Security Trustee acknowledge and consent to the terms of
the attached Amendment. 
  

			
	SECURITY TRUSTEE:
	
	WELLS FARGO BANK, N.A.
		
	By:	 	Sears, Roebuck and Co., as Master Servicer under the Pooling and Servicing Agreement dated November 24, 2003
		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	SRC DEPOSITOR CORPORATION
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	 Scott E. Huckins

	Title:	 	 Vice President

  
 [Signature Page to
Amendment] 

 Exhibit 3-A 

Sears Ownership Chart Relating to the Depositor and the RE Subsidiaries 

[See Attached] 

 Ownership Chart: Sears Holding Corporation 

 
  
 

 

 Exhibit 3-B 

Certain Information Regarding the Depositor 

A. Organizational identification number of Depositor: 

FEIN: 20-0400448 
 Organizational ID#: 3704862 

B. Address of chief executive office of Depositor: 
 3711
Kennett Pike
 Greenville, DE 19807 

 Exhibit 4 

All Holders of REMIC Certificates 

SRC Depositor Corporation 

 Portions of this document have been redacted pursuant to a Request for Confidential treatment filed with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

Exhibit 5 
 All Sales,
Substitutions, or Transfers of Any REMIC Properties Out of the REMIC 
 Structure From and After October 1, 2014 Until Closing 

[**] 

 Exhibit 6 

REMIC Existing Liens 
 [See
Attached] 

 EXHIBIT 6 

REMIC Existing Liens 
 as
of the 
 Closing Date 
 Notes:

  

	(1)	Reference is made to the Pension Plan Protection and Forbearance Agreement, dated as of March 17, 2016, by and between Sears Holdings Corporation, SRC Depositor Corporation, SRC O.P. Corporation, Sears Real Estate
(TX), LP, SRC Real Estate Holdings (TX), LP, SRC Facilities Statutory Trust No. 2003-A, Sears, Roebuck and Co., KCD IP, LLC, and Sears Brands, LLC and Pension Benefit Guaranty Corporation (“PBGC”) (as amended, restated, supplemented
or otherwise modified from time to time, the “PPPFA”). Capitalized terms used but not defined herein shall be given the meanings given to such terms in the PPPFA. 

	(2)	CTIC Title No. references the Commitment for Title Insurance prepared by Chicago Title Insurance Company issued on the date stated in the Commitment (or for New Jersey, the Title Search Report). 

	(3)	The inclusion of any item on this Exhibit does not constitute an admission by the Company or any of its Subsidiaries that such item is not permitted by the REMIC Transaction Documents or would not be permitted to be
incurred pursuant to Section 3.05(b) of the PPPFA and the Company and its Subsidiaries reserve all rights with respect to any such determination. 

  

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501824	  	2819	  	Fairbanks	  	AK	  	U.S. BANK TRUST NATIONAL ASSOCIATION, SOLELY AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501825	  	1141	  	Aurora	  	CO	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501826	  	1221	  	 Chapel Hills
 (Colorado Springs)
	  	CO	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501827	  	1271	  	 Denver-Southwest
 (Littleton)
	  	CO	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501828	  	1831	  	Thornton	  	CO	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Supplemental Agreement between JP Thornton and Sears, Roebuck and Co. dated October 28, 2004 grants from Sears, Roebuck and Co. to JP Thornton a right of repurchase if Sears is dark for 365 days and gives to JP Thornton a ROFO
which is really a right of first refusal exercisable within 30 days after Sears provides JP Thornton with the terms of a bona fide third party offer to buy. ROFR does not apply to proposed transfer to an entity that is an affiliate, part of a
sale/leaseback arrangement; the surviving entity resulting from a merger or sale of stock or as part of a multi-store sale by Sears. (Livelink review by Elizabeth Williams).

  
 1 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

		  		  		  		  		  	Oil and Gas Lease between Thornton 164, LLC, as Lessor and Noble Energy, Inc., as Lessee, evidenced by a Ratification of Oil and Gas Lease by Site A., LLC recorded December 6, 2010 at Reception No. 201084457and re-recorded
February 16, 2012 at Reception Nos. 201211929 and Affidavit of Extension of Oil and Gas Lease by Production recorded February 25, 2015 and Declaration of Pooling and Unitization recorded February 25, 2015 at Reception No.
201513116.
						
	21501829	  	1035	  	Augusta	  	GA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Open Condemnation Matter re: taking of property affecting two entrances on the Mall parcel, indirectly impacts Sears due to REA.

 
 Case Information:

AUGUSTA, GEORGIA,
 CONDEMNOR,

V.
 4,598 Square Feet of Permanent Easement and 7,531 Square Feet of
Temporary Construction Easement; American General Life and Accident Insurance f/k/a National Life and Accident Insurance Company, J.C. Penny Properties, Inc., General Growth Properties, Inc. f/k/a Augusta Mall Partnership, Macy’s, Inc. f/k/a
R.H. Macy & Co., Inc., Macy’s South, Inc., Macy’s Primary Real Estate, Inc., Rich’s Augusta Mall Real Estate, Inc., Rich’s Department Stores, Inc., Rich’s Real Estate, Inc., Sears, Roebuck and Company, Dillards, Inc.
f/k/a J.B. White & Company, Wells Fargo Bank f/k/a The First National Bank of Atlanta, and Queensboro National Bank and Trust Company f/k/a The First National Bank and Trust Company of Augusta; Individually; CONDEMNEES-RESPONDENTS.

Richmond County Superior Court Civil Action No.: 2015-RCCV-464 And DEPARTMENT OF TRANSPORTATION, Condemnor,

V.
 0.278 acres of land; certain easement rights; and PERRY S.
ALTERMAN, as Trustee under Declaration of Trust; SEARS, ROEBUCK & COMPANY d/b/a SEARS OUTLET; ATLANTA UNION MISSION CORPORATION; EXCELLENT AUTOMOTIVE, INC. d/b/a MASTERS AUTOMOTIVE; CITY OF MARIETTA, GEORGIA; HONORABLE KELLI WOLK, as PROBATE
JUDGE OF COBB COUNTY; CARLA JACKSON, as TAX COMMISSIONER OF COBB COUNTY; and any and all others claiming an interest in said property, Condemnees
 SUPERIOR
COURT OF COBB COUNTY
 STATE OF GEORGIA CIVIL ACTION FILE NO. 14-1Z007-48 1-75 PARCEL 46

						
	21501830	  	1095	  	Douglasville	  	GA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 2 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501831	  	1155	  	Atlanta–Cobb	  	GA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501832	  	1565	  	 Atlanta–Southlake
 (Morrow)
	  	GA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501833	  	1685	  	Atlanta–Gwinnett Place	  	GA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501834	  	2115	  	Waycross	  	GA	  	 GROUND LEASED LOCATION
  

Fee Owner/Ground Lessor: Tract 1 – WBCMT 2004-C12 Mall at Waycross LLC
  

Additional Insured Parcel: Tract 2 – Waycross Mall OP, LLC (REA Easement Parcel)
  

Tract 3: Ground Lessee: U.S Bank Trust National Association, as trustee of the SRC Facilities Statutory Trust No. 2003-A
	  	Legal description in recorded memorandum of lease is incorrect. Legal description in actual lease, however, is correct.
						
	21501835	  	2845	  	Athens	  	GA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 3 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501836	  	8745	  	Tucker	  	GA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501848	  	1012	  	Des Moines	  	IA	  	 FEE OWNED AND LEASED PROPERTY
  

Fee Owned: PARCEL 1: U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A

 
 Co-Owned PARCEL 2:

U.S Bank Trust National Association, as Trustee for the SRC Facilities Statutory Trust No. 2003-A owns an undivided
 1⁄2 interest and Merle Hay Mall, Inc. owns the other  1⁄2 undivided
interest. [PARCEL 2 is a small area conveyed to Sears and Merle Hay by the City of Des Moines which is governed by a TIC Agreement dated 4/21/80]
  

Leased PARCEL 3 – Fee Owner –James Joseph Legrone, Jr. (parking lot)
	  	 Right of First Offer contained in unrecorded Agreement between Merle Hay Mall Inc. and Sears dated 4/21/1980 (Livelink review by Gwen
Sandstrom).
  
 Sears and Shopping Center Easement Agreement between Merle Hay Mall Inc.
Merle Hay Plaza, Inc. and Sears dated 3/21/1973 which provides that Sears may not assign its lease or sublet the Sears Leased Premises (which is described as the parking lot area under the Legrone lease) or amend its lease without consent of Merle
Hay Mall, Inc. and Merly Hay Plaza, Inc. (Livelink review by Gwen Sandstom).
  

Construction Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents dated July 1, 2013 from Merle Hay Mall Limited Partnership to
Associated Bank, National Association, recorded July 2, 2013 in Book 14858 on page 286 as document no. 201400000598 to secure a note in the amount of $48,000,000.00, Amended by Instrument recorded August 27, 2014 in Book 15302 on page 826 as
document 201500031526, and Assignment of Leases and Rents dated July 1, 2013 from Merle Hay Mall Limited Partnership to Associated Bank, National Association, recorded July 2, 2013 in Book 14858 on page 323 as document no. 201400000599, Amended by
Instrument recorded August 27, 2014 in Book 15302 on page 836 as document 201500031527, Amended by Second Amendment dated December 30, 2015, recorded Janary 6, 2016 in Book 15861, page 478, and Financing Statement evidencing an indebtedness from
Merle Hay Mall Limited Partnership, debtor, to Associated Bank, National Association, secured party, recorded July 2, 2013 in Book 14858 on page 337 as document no. 201400000600.

  
 4 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501849	  	2422	  	Sioux City	  	IA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501850	  	2760	  	Davenport	  	IA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501837	  	1172	  	Bloomingdale	  	IL	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Option to repurchase in favor of LaSalle National Trust, N.A., a national banking association, as Successor Trustee under Trust Agreement
dated April 13, 1979 and known as Trust Number 100100 as reserved in deed from said party to Sears, Roebuck and Company, a New York corporation, dated May 31, 1990 and recorded June 21, 1990 as Document R90-076648, subject to the provisions
contained in said deed.
  
 1. Encroachment Of The Two Story Brick And Stucco
Building Located Mainly On The Land Onto The Property West And Adjoining At The Southerly Most West Line By Approximately 1.3 Feet, As Shown On Plat Of Survey Number 20030367 Prepared By Bock & Clark’s National Surveyors Network Dated
September 11, 2003. 2. Encroachment Of The Two Story Brick And Stucco Building Located Mainly On The Land Onto The Property South And Adjoining At The Northerly Most South Line By Approximately 0.2 To O.3 Feet, As Shown On Plat Of Survey
Number 20030367 Prepared By Bock & Clark’s National Surveyors Network Dated September 11, 2003. 3. Encroachment Of The Two Story Brick And Stucco Building Located Mainly On The Land Onto The Property West And Adjoining At The
Northerly Most West Line By Approximately 1.2 To 1.3 Feet, As Shown On Plat Of Survey Number 20030367 Prepared By Bock & Clark’s National Surveyors Network Dated September 11, 2003. 4. Encroachment Of The Concrete Located Mainly On
The Land Onto The Property South And Adjoining At The Northerly Most South Line By An Undisclosed Amount, As Shown On Plat Of Survey Number 20030367 Prepared By Bock & Clark’s National Surveyors Network Dated September 11,
2003.

						
	21501838	  	1321	  	Peoria	  	IL	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501839	  	1780	  	Springfield	  	IL	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501840	  	1820	  	West Dundee	  	IL	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 5 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501841	  	1840	  	Chicago Ridge	  	IL	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Grant of right of first negotiation dated March 27, 1979 and recorded April 4, 1979 as document 24904032 (Exception 15). The Agreement provides Great Atlantic & Pacific Tea Company, Inc. the right of first negotiation
to lease a supermarket or food store on two contiguous parcels (totaling 70 acres) which terminated on June 30, 1982. Section 5 of the Agreement also provides that it shall terminate as to Parcel A (16 acres) upon commencement of construction
of a department store to be used or occupied by Sears, Roebuck and Co.
						
	21502958	  	2121	  	Peru	  	IL	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Right of First Refusal and Repurchase Option described in Reciprocal Construction, Operation and Easement Agreement dated December 30, 1969, recorded May 8, 1970 as Doc. 560807. Per Sec. 20(d)(i), if the owner of the Ward Building
sells all or a portion of Parcel A (Sears Parcel) to an unrelated third party, and leases back the premises, the owner must notify Developer at least 60 days prior to the closing therefor and Developer has the right within the 60 day period to
purchase Parcel A or portion being sold on the same terms. Per Sec. 20(d)(ii) if, at any time after the 22nd year the Ward Building is open (11/1/1992) but before the termination of the Agreement (11/1/2020 latest), (A) a dept. store is not being
operated on Parcel A, (B) if 60,000 sf of leasable area is then being operated on Parcel B (mall parcel) AND (C) the Bergner Building is then being operated as a department store, THEN the developer has a right to repurchase Parcel A. Closing to
occur within 60 days of developer’s notice to the owner of the Ward Building of its decision to repurchase. However, the developer cannot repurchase the property if within that 60 day period a department store will again be operated on parcel
A.
						
	21501842	  	2250	  	Crystal Lake	  	IL	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501843	  	1600	  	Castleton	  	IN	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501844	  	1650	  	Merrillville	  	IN	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501845	  	1680	  	Indianapolis– Washington Sq.	  	IN	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Stormwater Lien in the amount of $4,824.00 as set out in Certification from Department of Public Works recorded October 26, 2005 as 2005-0176155.
						
	21501846	  	1800	  	Mishawaka– University Park	  	IN	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501847	  	2290	  	Michigan City	  	IN	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 6 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501851	  	1642	  	Topeka	  	KS	  	U.S. BANK TRUST NATIONAL ASSOCIATION AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501852	  	1730	  	Florence	  	KY	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501853	  	1790	  	Louisville – Jeff Mall	  	KY	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501854	  	1077	  	Shreveport	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A, ACTING ON BEHALF OF SUBI PORTFOLIO, APPEARING THROUGH U.S. BANK TRUST NATIONAL ASSOCIATION	  	 Agreement of Certain Tract of Land between Sears, Roebuck and Co. and General Growth dated 5/30/1975 which provides Developer the right to
purchase the entire site, in the event Sears ceases to operate its main store. Also, Sears grants to Developer a ROFR to purchase within 20 days of Sears receiving a bona fide offer. Term ends 12/31/2024. (Livelink review by Kim Thompson).

 
 Lease between Sears, Roebuck and Co. and General Growth dated 6/1/1974, in which Sears
grants Developer a ROFR to purchase within 20 days of Sears receiving a bona fide offer. Term ends 12/31/2024 (Livelink review by Kim (Thompson).
  

Permanent drainage easement and a temporary construction easement with applicable municipality.

						
	21501855	  	1086	  	Cortana-Baton Rouge	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501856	  	1116	  	Monroe	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501857	  	1147	  	Baton Rouge	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501858	  	1226	  	Metairie	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501859	  	1286	  	Gretna	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A DELAWARE STATUTORY TRUST	  	No Issues.

  
 7 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501860	  	2087	  	Alexandria 	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A TRUSTEE	  	No Issues.
						
	21501861	  	2677	  	Bossier City	  	LA	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A TRUSTEE	  	No Issues.
						
	21501862	  	1403	  	North Attleboro	  	MA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501863	  	1104	  	Marlborough	  	MA	  	 U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A (Sears, Roebuck and Co. leasehold interest is
pursuant to a ground lease with U.S. Bank Trust)
  
	  	 Lease naming Heath Corp. of Marlborough, Inc. recorded in Book 26336, Page 575 (Middlesex Southern District) and Book 17927, Page 155
(Worcester County).
  
 Lease naming ILindt & Sprungli (USA), Inc. recorded in Book
27877, Page 414.
  
 Lease naming Mayflower Solomon Pond, LLC and Delops, Inc. recorded in
Book32812, Page 426.

						
	21501864	  	1223	  	Brockton	  	MA	  	 GROUND LEASED PROPERTY
  

Fee Owner/Ground Lessor: New Westgate Mall LLC
  

Ground Lessee: U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	 Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing from New Westgate Mall LLC to Bank of America, N.A. dated
May 19, 2010 in the original principal amount of $28,575,000.00 and recorded in Book 38538, Page 270 and filed as Document No. 663886, as amended by First Amendment to Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture
Filing dated August 16, 2013, recorded in Book 43500, Page 108, and filed as Document No. 712164 and affected by Subordination, Attornment and Non-Disturbance Agreement with Sears Roebuck and Co. dated May 19, 2010, recorded in Book 39133,
Page 309.
  
 Notice of contract by Bloom, South & Gurney, Inc. recorded in Book 7381,
Page 231, also filed as Document No. 265714, as affected by a Sworn Statement Under c. 254, recorded in Book 7448, Page 30, also filed as Document No. 267079 and as affected by a Complaint filed in Plymouth Superior Court, Case No. CA87-440,
recorded with said Deeds, Book 7564, Page 328, also filed with said Registry District as Document No. 269413. (affects fee estate only) ).
  

Lease between Campanelli Investment Properties and Child World, Inc., notice of which is dated January 16, 1985, recorded in Book 5972, Page 307;

 
 Amendment to and Restatement of Lease between Westgate Mall Properties LLC and The May
Department Stores Company dated January 23, 2003, notice of which is dated January 23, 2003, Book 24186, Page 55 Document No. 62643, and as affected by Subordination, Non-Disturbance and Attornment Agreement with Macy’s Retail
Holdings, Inc. entered into as of May 19, 2010, recorded with Deeds, Book 39133, Page 318;

  
 8 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

		  		  		  		  		  	 Lease between Campanelli Investment Properties and Marshalls of Brockton, MA, Inc. notice of which is dated July 18, 1986, recorded in
Book 6343, Page 279 as affected by Amendment to Notice of Lease dated July 6, 1999 and recorded at Book 17746, Page 41 and as further affected by a Subordination, Recognition and Attornment Agreement with Marshalls of MA, Inc., recorded in Book
39133, Page 304;
  
 Lease between Campanelli Investment Properties, as Lessor and OCB
Realty Co. as Lessee, memorandum of which is dated December 17, 1996,recorded at Book 14910, Page 128;
  

Lease between Westgate Brockton Partners, L.P. as Lessor and Bugaboo Creek Holdings, Inc., as Lessors, notice of which is dated August 17,2005 and recorded
in Book 32098, Page 304, and as affected by a re-recorded Notice of Lease by and between Westgate Brockton Mall LLC, and Landlord, and Bugaboo Creek Holdings,Inc.,as Tenant, dated November 19, 2007, recorded in Book 35402, Page 45 and filed as
Document No. 631093 and as affected by a Subordination, Non-Disturbance and Attornment Agreement with Bugaboo Creek Holdings, Inc. dated May 19, 2010, recorded with said Deeds, Book 39133, Page 327;

 
 Leasehold Mortgage, Security Agreement, Assignment of Leases and Rents and Financing
statement (Fixture Filing) by Bugaboo Creek Holdings, Inc. to Ableco Finance LLC, as Collateral Agent, dated November 19,2007, recorded in Book 36402, Page 52 and filed as Document No. 63 1 094 (affects tenants interest);

 
 Second Lien Leasehold Mortgage, Security Agreement, Assignment of Leases and Rents and
Financing Statement (Fixture Filing) from Bugaboo Creek Holdings, Inc. to Wilmington Trust Company, as Collateral Agent, dated October 17, 2008, recorded in Book 36469, Page 62 and filed as Document No. 642331 ( affects tenants interest);

 
 UCC Financing Statement from Bugaboo Creek Holdings, Inc. to Ableco Finance LLC, as
Collateral Agent, recorded at Book 35402, Page 74 and filed as Document No. 631095 (affects tenants interest);
  

UCC Financing Statement from Bugaboo Creek Holdings, Inc. to Wilmington Trust Company, as Collateral Agent, recorded at Book 36169, Page 85 and filed as
Document No, 642332 (affects tenants interest);
  
 Lease between New Westgate Mall LLC,
Landlord, and Brockton Pancakes, Inc., Lessee, said notice dated April 12, 2011, recorded in Book 40253, Page 179, and filed as Document No. 681215, as affected by Subordination, Non-Disturbance and Attornment Agreement dated April 27,
2011, recorded in Book 40253, Page 191, and as Document No. 681216;

  
 9 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

		  		  		  		  		  	 Lease between New Westgate Mall LLC, Landlord, and Jo-Ann Stores, Inc., Tenant, memorandum of which is dated as of May 1,2012, recorded
in Book 41973, Page 247, and file as Document No. 697556, as affected by Subordination, Non-Disturbance and Attornment Agreement dated as of May 17,2012, recorded in Book 41973, Page 257, and filed as Document No. 697557;

 
 Lease between New Westgate Mall LLC, Landlord, and Blazin Wings, Inc., Tenant, memorandum
of which is dated October 18,2012, filed as Document No. 699580;
  
 Lease between New
Westgate Mall LLC, Landlord, and Demoulas Super Markets, Inc., Tenant, notice of which is undated, recorded in Book 45127, Page 23 and filed as Document No. 728151, as affected by an Assignment and Assumption of Lease Agreement from Demoulas Super
Markets, Inc. to DSM MB I LLC dated as of December 1,2014, recorded in Book 45127, Page 33, also filed as Document No. 728153;
  

Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing from DSM MB I LLC to Morgan Stanley Bank, N.A. dated as of
December 12, 2014, recorded in Book 45127, Page 43, also filed as Document No. 728154 (affects tenants interest);
  

Assignment of Leases and Rents from DSM MB I LLC to Morgan Stanley Bank, N.A. dated as of December 12, 2014, recorded in Book 45127, Page 68, and filed as
Document No. 728155. (affects tenants interest);
  
 UCC Financing Statement naming
DSM MB I LLC , as Debtor and Morgan Stanley Bank, N.A., as Secured Party recorded in Book 45127, Page 80, and filed as Document No. 728156 (affects tenants interest);
  

UCC-l Financing Statement naming Metro Wireless LLC as Debtor and Bryan Gudrain as Secured Party, recorded in Book 38749, Page 136;

 
 Easement Agreement by the Trustees of Raymond A. Mucci Trust to Westgate Mall Properties
LLC dated December 31, 1998, recorded in Book 17007, Page 76 and as Document No. 440591;
  

Easement Agreement by Ray Mucci’s Inc. to Westgate Mall Properties LLC dated December 31, 1998, recorded with said Deeds, Book 17007, Page 93, also
filed with said Registry District as Document No. 440593.

  
 10 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501865	  	1343	  	Cambridge	  	MA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS SUBI TRUSTEE of SRC FACILITIES STATUTORY TRUST NO. 2003-A)	  	No Issues.
						
	21501866	  	2934	  	 Silver City Galleria
 (Taunton)
	  	MA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501867	  	1074	  	Waldorf	  	MD	  	SRC O.P. CORPORATION	  	No Issues.
						
	21501868	  	1424	  	Bethesda	  	MD	  	SRC O.P. CORPORATION	  	No Issues.
						
	21501869	  	1754	  	Gaithersburg	  	MD	  	SRC O.P. CORPORATION	  	No Issues.
						
	21501870	  	1854	  	 Parkville
 (Baltimore)
	  	MD	  	SRC O.P. CORPORATION	  	No Issues.
						
	21501871	  	1011	  	Grandville	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501872	  	1092	  	Westland	  	MI	  	 GROUND LEASED PROPERTY
  

Fee Owner/Ground Lessor: LSREF Summer REO Trust 2009
  

Ground Lessee: SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	 Claim of (Construction) Lien filed by Wyandotte Electric Supply Co., Inc. recorded on December 8, 2014 in Liber 51901, Page 1254.

 
 Agreement to Accept Assessments for Future Maintenance and Repair on the Morgan Drain
recorded in Liber 15127, Page 779 and Order Amending Final Order of Determination recorded in Liber 15088, Page 533.
  

Mortgage by B&B Westland Center Mall, LLC, a Delaware limited liability company to Column Financial Inc. dated February 22, 2008 and recorded
March 6, 2008 in Liber 47038, Page 176, and Subordination Agreement recorded in Liber 48581, Page 548 (Also covers other land).
  

Mortgage executed by LSREF Summer REO Trust 2009 to Column Financial, Inc. dated May 21, 2010 and recorded June 2, 2010 in Liber 48581, Page 499 (Also
covers other land).
  
 Assignment of Leases and Rents executed by LSREF Summer REO Trust
2009 to Column Financial, Inc. dated May 21, 2010 and recorded June 2, 2010 in Liber 48581, Page 528.
  

Assignment of Leases and Rents executed by LSREF Summer REO Trust 2009 to Column Financial, 12. Inc. dated May 21, 2010 and recorded June 2, 2010 in
Liber 48581, Page 478.

  
 11 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

		  		  		  		  		  	 Lease between Westland Center Partners Limited Partnership, a Delaware limited partnership, Lessor, and Panera, LLC, a Delaware limited
liability company, Lessee, a memorandum of which is recorded January 7, 2005 in Liber 41955, Page 1425.
  

Subordination, Non-Disturbance and Attornment Agreement by and between Wells Fargo Bank, N.A., f/k/a Wells Fargo Bank Minnesota, N.A., as Trustee for Registered
Certificate holders of Banc of America Large Loan, Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-BBA2 and Panera, LLC a Delaware limited liability company, recorded January 7, 2005, as Liber 41955, Page 1431.

 
 Lease between Westland Center Partners, L.P., a Delaware limited partnership, Lessor, and
JRR Properties Westland LLC, a Michigan limited liability company, Lessee, a memorandum of which is recorded May 4, 2005, in Liber 42625, Page 705, Wayne County Records, as modified by Ground Leases Estoppel Certificate and Consent recorded in
Liber 43473, Page 86.
  
 Lease between The Equitable Life Assurance Society of the United
States, Lessor, and Federated Department Stores, Inc., Lessee, a memorandum of which is recorded October 7, 1988 in Liber 23914, Page 573, and Assignment and Assumption of Lease recorded in Liber 41612, Page 466.

 
 Lease between Shopping Centers, Inc., Lessor, and J.C. Penny Properties, Inc., Lessee, memo
recorded April 8, 1975, in Liber 19066, Page 479 and amended by Memorandum of Lease Amendment Agreement recorded in Liber 39510, Page 993.
  

Lease between LSREF Summer REO Trust 2009, Lessor, and Ulta Salon Cosmetic Fragrance, Inc., Lessee, as set forth in Lease recorded in Liber 51490, Page 307.

 
 Lease between LSREF Summer REO Trust 2009, Lessor, and Shoe Carnival, Inc., Lessee, as set
forth in Liber 51273, Page 225 – exclusive for moderately priced family shoe footwear retailer.

						
	21501873	  	1110	  	Portage	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501874	  	1192	  	Muskegon	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 12 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501875	  	1700	  	Dearborn	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Building and use restrictions and other terms covenants and conditions disclosed by Declaration of Covenants and Restrictions Upon the Use of
Land situated in Fairlane Town Center dated December 19, 1986 and recorded in Liber 23053, Page 2, Declaration amended June 19, 2000and recorded in Liber 32169, Page 258 and further amended on April 7, 2008 and recorded in Liber
47152, Page 1351. Building site design requirements and approval by Ford Motor Land Development Corporation. Ford Motor Land Development Corporation had unilateral authority to extend the Declaration to 2058.

 
 Notices of Commencement recorded against the entire mall property but do not pertain to the
leasehold interest. Both were recorded August 20, 2015 in Liber 52426, Pages 898 and 906.

						
	21501876	  	1720	  	Sterling Heights.	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501877	  	1760	  	Novi	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501878	  	2040	  	Battle Creek	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Instrument recorded in Liber 684, Page 375, Liber 710, Page 595 and Liber 710, Page 597, Deed Restrictions: single-family dwelling purposes only; no material amendments allowed until 25 year after 8/12/1953 for a portion, 1/14/1955
for a portion, and 5/24/1955 for a portion.
						
	21501879	  	2180	  	Traverse City	  	MI	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501882	  	1042	  	Joplin	  	MO	  	 GROUND LEASED PROPERTY
  

Fee Owner/Ground Lessor:
 Northpark Mall/Joplin, LLC

 
 Ground Lessee: SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	Memorandum of Lease between Northpark Mall/Joplin, LLC (landlord) and TJX Companies, Inc. (tenant) provides restrictions upon remainder of Shopping Center which provides landlord shall not permit the Restricted Area of the Shopping
Center to be used for (a) any non-retail purposes; (b) any entertainment purposes; and (c) any establishment that sells/displays used merchandise or second hand goods. Sears may not be used as a cinema. No premises within 200 feet of exterior walls
of Demised Premises shall be used for restaurants or establishments selling food prepared for consumption on or off premises except restaurants may be located on outparcels or Permitted Restaurant 1 on Lease Plan may contain restaurant of up to
8,500 square feet of floor area and Permitted Restaurant 2 on Lease Plan may contain restaurant of up to 6,000 square feet of floor area.
						
	21501883	  	1171	  	Springfield	  	MO	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501884	  	1182	  	St. Peters	  	MO	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 13 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501885	  	1222	  	 St. Louis/South
 County
	  	MO	  	 GROUND LEASED PROPERTY
  

Fee Owner/Ground Lessor: South County Shopping Town, LLC
  

Ground Lessee: SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	 No Issues.
  

The following court case No. 14SL-CC00977 filed March 14, 2014, in the Circuit Court of St. Louis County, Missouri, styled Paul Russell, Plaintiff, vs.
South County Shoppingtown LLC, Defendant, is pending. Neither Sears, Roebuck and Co. nor SRC Facilities Statutory Trust No. 2003-A are named in the suit.
  

						
	21501886	  	1690	  	Chesterfield	  	MO	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501887	  	1822	  	Cape Girardeau	  	MO	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Restrictive Covenant and Right of Opportunity to Purchase dated 6/24/2004, between Sears, Roebuck and Co. and Drury Land Development, Inc. grants from Sears to Drury Land Development, Inc. a one-time right of opportunity to purchase
(ROFO) prior to entering into substantive negotiations with any prospective buyer. The ROFO is personal to Drury Land Development, Inc. and is not assignable. (Livelink review by Scott Nierman).
						
	21501880	  	1166	  	Meridian	  	MS	  	 GROUND LEASED PROPERTY & SUBLEASED PROPERTY
  

Fee Owner/Ground Lessor: The Lauderdale County Board of Education
  

Ground Lessee: Bonita Lakes Mall Limited Partnership
  

Subtenant as to Ground and Fee Owner of Improvements: SRC FACILITIES STATUTORY TRUST NO. 2003-A

 
 Sub-Subtenant as to Ground and Tenant as to Improvements: Sears, Roebuck And Co.
	  	No Issues.
						
	21501881	  	1306	  	Hattiesburg	  	MS	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 14 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501896	  	1165	  	Concord	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501897	  	1375	  	Winston Salem	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501898	  	1405	  	Fayetteville	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501899	  	1455	  	Wilmington	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Notice of Residual Petroleum dated November 1, 2009, advising that the property is contaminated with petroleum.

 
 Judgment lien filed January 28, 2009, 09 CVM in the New Hanover County Clerk’s office
in favor of Harold and Brenda Fullwood against Sears, Roebuck and Co. in the amount of $2,747.10 plus costs of $91.00 and interest until paid.

						
	21501900	  	1475	  	Durham	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Judgment in favor of Tom Meyers plus penalties and interest, if any, docketed in file 06CVD4384.
						
	21501901	  	1605	  	Raleigh	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Claim of Lien on Real Property having filing number 15-M-898, filed by party that contracted with Property Owner, dated February 23, 2015, in the amount of $1,147.57.
						
	21501902	  	1805	  	Raleigh	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Claim of Lien having filing number 15-M-897 filed by National Maintenance Services Inc. and is filed against Cache, Inc. and CVM Holdings LLC
(mall developer).
  
 Notice of Residual Petroleum recorded November 5, 2013, in Book
15494, Page 1932, Wake County Registry.
  
 Notice of Dry-Cleaning Solvent Remediation
recorded on November 26, 2013, in Book 15515, Page 570, Wake County Registry.

  
 15 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501904	  	2175	  	Greenville	  	NC	  	 Fee Owner/Tract 1: US BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A

 
 Tract 2: Ernest W. Hahn, Inc.

 
 Tract 3: Sears, Roebuck And Co., An 18.875% Undivided Interest As A Tenant In
Common.
	  	No Issues.
						
	21501905	  	2515	  	Hickory	  	NC	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A.	  	No Issues.
						
	21501907	  	1712	  	Grand Forks	  	ND	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Judgment filed by Henry Osmer against Sears, Roebuck and Co. ($435.77, May 25, 2010, Case No. 10-S-0223).
						
	21501888	  	1314	  	New Brunswick	  	NJ	  	THE TRUSTEES OF THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Notice of Lis Pendens under Docket No. L-3792-04, recorded 06/23/2004 in Book 32, Page 363. CTIC Commitment in Exception 7 refers to Deed Book
5345 page 671: Deed Book 5346 page 319 regarding land taken.
  
 Leasehold Mortgage of
Block 710, Lot 7.02 made by New Brunswick Restaurant, L.L.C., to Hudson United Bank recorded November 24, 2003 in Mortgage Book 9117 page 56.
  

Assignment of Leases recorded November 24, 2003 in Mortgage Book 9117 page 83 and Assignment of Leases recorded July 16, 2010 in Deed Book 6177 page
691 from Brinker New Jersey, Inc. and OTB Acquisition LLC – Sears, Roebuck and Co. is landlord under lease dated 8/22/1997 with Brinker New Jersey, Inc.

  
 16 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501889	  	1554	  	Township of Hamilton	  	NJ	  	 GROUND LEASED PROPERTY
  

Fee Owner/Ground Lessor: Hamilton Mall, LLC
  

Ground Lessee: SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	 Construction Lien Claim against Hamilton Mall, LLC in favor of Shore Supply Company recorded 11/15/2013 in Instrument No. 2013071058, in the
amount of $4,933.10.
  
 Construction Lien Claim against Hamilton Mall, LLC in favor of New
Jersey Carpenters Funds, recorded 12/05/2013 in Instrument No. 2013074667, in the amount of $12,900.42.
  

A mortgage to secure an original principal indebtedness of $110,000,000.00, and any other amounts or obligations secured thereby, recorded 06/13/2012 as
Instrument No. 2012036321 of Official Records, dated 06/08/2012 Mortgagor: Hamilton Mall, LLC, Mortgagee: Citibank, N.A. Assignment of Leases, Rents and Security Deposits executed by Hamilton Mall, LLC, as assignor, to Citibank, N.A. assignee, dated
06/08/2012, recorded 06/13/2012 as Instrument No. 2012036322.
  
 A financing statement
recorded 06/13/2012 as Instrument No. 2012036323 of Official Records.
 Debtor:
                Hamilton Mall, LLC
 Secured party:
    Citibank, N.A.
  
 Subordination and Non-Disturbance and Attornment
Agreement recorded 07/25/2012 as Instrument No. 2012044208, made by and between Citibank, N.A., ’lender’ and H & M Hennes & Mauritz L.P., ‘tenant’.
  

Subordination and Non-Disturbance and Attornment Agreement recorded 10/24/2012 as Instrument No. 2012063007, made by and between Citibank, N.A.,
’lender’ and BWW Jersey Wings, Inc., initially doing business as Buffalo Wild Wings Grill & Bar, ’tenant’ and the terms, provisions and conditions contained therein.

 
 Subordination and Non-Disturbance and Attornment Agreement recorded 11/13/2012 as
Instrument No. 2012067194, made by and between Citibank, N.A., lender’and Rare Hospitality International, Inc., tenant and the terms, provisions and conditions contained therein.

 
 Declaration by Hamilton Mall, LLC regarding drainage structures recorded in Deed Book 13477
as Instrument Number 2012038202.

  
 17 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501890	  	1614	  	Livingston	  	NJ	  	THE TRUSTEES OF THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501891	  	1734	  	Lawrenceville	  	NJ	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501892	  	1764	  	Rockaway	  	NJ	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Memorandum of Lease by and between Sears, Roebuck and Co. and Raymours Furniture Co., Inc. in Deed Book 22695 page 856 dated April 20,
2015.
  
 Developer Leases:

 

•      Memorandum Lease to Paperback Booksmith Franchises Corp in Deed Book 2426
page 854
  

•      Lease to Child Work, Inc. in Deed Book 2452 page 219

 
 •      Lease to
Acme Markets, Inc. in Deed Book 2460 page 936, amended by Deed Book 2590 page 902
  

•      Memorandum of Lease to Friendly Ice Cream Corporation in Deed Book 2464 page
809
  

•      Memorandum of Lease to Lane Bryant, Inc. in Deed Book 2465 page 390

 
 •      Lease to
Sizzler Family Steak Houses in Deed Book 2590 page 25
  

•      Memorandum of Lease to McDonalds Corporation in Deed Book 2631 page 179

 

•      Memorandum of Assignment to American Bell Inc. in Deed Book 2662 page 294

 
 •      Lease to
Briad Wenco L.L.C. in Deed Book 4526 page 342
  

•      Memorandum of Lease to Borders, Inc. in Deed Book 5725 page 129

 

•      Memorandum of Lease to Michaels Stores, Inc. in Deed Book 5731 page
18.

						
	21501893	  	1874	  	Burlington	  	NJ	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501894	  	1717	  	Cottonwood	  	NM	  	U.S. BANK TRUST NATIONAL ASSOCIATION, SOLELY AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 18 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501895	  	2207	  	Roswell	  	NM	  	U.S. BANK TRUST, NATIONAL ASSOCIATION, SOLELY AS TRUSTEE OF SRC FACILITIES STATUTORY TRUST NO. 2003-A.	  	No Issues.
						
	21501908	  	1051	  	Strongsville/South Park	  	OH	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501909	  	1120	  	 Columbus
 (Dublin)
	  	OH	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501910	  	1210	  	Columbus/Polaris	  	OH	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	MM21501911	  	1710	  	North Olmsted	  	OH	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A (as to Parcels 1-3)	  	Lease dated August 20, 2009, between Sears, Roebuck and Co., Landlord, and George Group-Great Northern Ltd., Tenant, grants from Sears to George Group a ROFR. (Livelink review by Cathy Neuner).
						
	21501912	  	1810	  	Cincinnati–Eastgate	  	OH	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501913	  	2010	  	Mansfield	  	OH	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501914	  	2390	  	Springfield	  	OH	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501915	  	1545	  	Spartanburg	  	SC	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Fence encroachment of 0.56 feet by the Highway Department located on the far south side of the parking lot on the opposite side from the
store.
 .

						
	21501916	  	1595	  	Greenville	  	SC	  	 GROUND LEASED (PORTION OF PARKING LOT-3.4 ACRES) AND FEE OWNED (STORE AND PORTION OF PARKING LOT)

 
 Fee Owner (Store and portion of parking lot):

 
 SRC FACILITIES STATUTORY TRUST NO. 2003-A

 
 Fee Owner/Ground Lessor (Portion of Parking Lot):

 
 MFH-MPH, LP
  

Ground Lessee (Portion of Parking Lot):
  

SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	 Lease dated 2/28/2013 between Sears, Roebuck and Co., Landlord, and Forever 21 Retail, Inc., Tenant. The lease term with options extends
beyond the term of the Master Lease between Sears, Roebuck and Co. and the REMIC entities. (Livelink review by Donna Schroedle).
  

Memorandum of Loan Agreement and Option to Purchase Real Estate by and between the Worthy Group and First Piedmont Mortgage Company, Inc., recorded
February 19, 1974 in Book 994, page 5.
  
 Restrictive Covenants recorded June 1,
1977 in Book 1087, Page 459.

  
 19 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501917	  	2305	  	Anderson	  	SC	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Open civil actions as to easement parcels only:
  

Sandra Gambrell vs. SPG Anderson Mall, LLC, et. al, Civil Action Number 2014-CP-04-1536
  

Linda Luton vs. SPG Anderson Mall, LLC, et. al, Civil Action Number 2024-CP-04-02711

						
	21501918	  	2855	  	Charleston	  	SC	  	SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Judgment Number 2008JG1000223 dated 1/30/2008 in the amount of $80.00.
						
	21501919	  	1027	  	El Paso	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501920	  	1076	  	Lewisville	  	TX	  	SRC REAL ESTATE (TX), LP	  	Ground Lease dated March 20, 2015, by and between Sears, Roebuck and Co. and Kellan Restaurant Management Corp. for the lease of a vacant land outlot parcel.
						
	21501921	  	1176	  	Pasadena	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501922	  	1217	  	Corpus Christi	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501923	  	1267	  	Ridgmar-Fort Worth	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501924	  	1297	  	Hurst	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501925	  	1307	  	Abilene	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501926	  	1317	  	Cielo Vista	  	TX	  	 SUB-SUB-SUBLEASED PROPERTY
  

Parcel 1(1.871acre-Portion of Retail Store/Portion of Parking Lot):
	  	 Memorandum of Letter Agreement, dated April 17, 2015, by and between Simon Property Group, LP and Sears Roebuck and Co., filed for record
on May 5, 2015 under Clerk’s Document No. 20150029299 and 20150029298.
  
 Parcel
3: Ground Sublease between Sears, Roebuck and Co. and Simon Property Group (Texas) LP. as successor in interest to Celina Development Company dated July 6, 1981.

  
 20 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

		  		  		  		  	 Fee Owner/Lessor: Dillpaso Properties, Corp.
  

Lessee/Sublessor: Dillard Department Stores, Inc.
  

Sublessee/Sub-Sublessor: Simon Property Group (Texas), LP as successor in interest to Celina Development Company

 
 Sub-Sublessee/Sub-Sub-Sublessor: SRC REAL ESTATE (TX), LP

 
 Sub-Sub-Sublessee: Sears, Roebuck and Co.

 
 GROUND LEASED PROPERTY

 
 Parcel 2 (11.364 acres-portion of Parking Lot and portion of Retail Store):

 
 Fee Owner/Ground Lessor: City of El Paso, TX

 
 Ground Lessee/Ground Sublessor: SRC REAL ESTATE (TX), LP

 
 Ground Sublessee: Sears, Roebuck and Co.
	  	

  
 21 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

		  		  		  		  	 GROUND SUBLEASED PROPERTY
  

Parcel 3 (3.8560 acres –part of Parcel 2’s 11.364 acres-Lease out of portion of Parking Lot to Simon Property Group (Texas), LP)

 
 Fee Owner/Ground Lessor: City of El Paso, TX

 
 Ground Lessee/Ground Sublessor: SRC REAL ESTATE (TX), LP

 
 Ground Sublessee/Sub-Sublessor: Sears, Roebuck and Co.

 
 Ground Sub-Sublessee: Simon Property Group (Texas), LP
	  	
						
	21501927	  	1327	  	Baytown	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501928	  	1337	  	Plano	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501929	  	1367	  	Waco	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501930	  	1377	  	Houston–Willowbrook	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501931	  	1387	  	Amarillo	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501932	  	1407	  	Beaumont	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501933	  	1417	  	Houston – Deerbrook	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501934	  	1427	  	San Antonio Rolling Oaks	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501935	  	1437	  	Arlington	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501936	  	1447	  	Ft. Worth	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501937	  	1187	  	 Mesquite
 (4/17/12)
	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.

  
 22 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501938	  	1487	  	 Austin
 (Cedar Park)
	  	TX	  	SRC REAL ESTATE (TX), LP	  	Interest in and to all coal, lignite, oil, gas and other minerals and all rights thereto pursuant to instrument recorded in volume 832, page 838 and volume 856, page 590 and volume 856, page 586. All instruments are dated
1981.
						
	21501939	  	2197	  	 Texas City
 (4/1/15)
	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501940	  	2247	  	Laredo	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501941	  	2497	  	Brownsville	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501942	  	2547	  	College Station	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501943	  	2557	  	Longview	  	TX	  	SRC REAL ESTATE (TX), LP	  	No Issues.
						
	21501944	  	2587	  	 Denton
 (4/1/15)
	  	TX	  	SRC REAL ESTATE (TX), LP.	  	Claim of Mechanics’ Lien filed by Jody Roberts Construction, Inc. in the amount of $2,000 as Clerk’s File No. 2015-51660 dated May 15, 2015 (for the buildout of Claire’s).
						
	21501945	  	1029	  	Spokane	  	WA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	 Claim of Lien against Bayley Construction in favor of All Wall Contracting, Inc. recorded 9/14/2015 in Instrument No.6435358, in the amount of
$296,430.41.
  
 Corrected Claim of Lien against Bayley Construction and North Town Mall,
LLC in favor of Kone Inc. recorded 9/24/2015 in Instrument No.6438342, in the amount of $112,902.45.
  

Memorandum of Lease dated May 31, 2001, by and between Sears, Roebuck and Co. and Price Spokane Limited Partnership, developer, for the lease of surface
parking and/or parking garage.
  
 Deed of Trust

Grantor/Trustor: North Town Mall, LLC, a Delaware limited liability company

Grantee/Beneficiary: U.S. Bank National Association, as Administrative Agent

Trustee: First American Title Insurance Company
 Amount:
$1,500,000,000.00
 Recorded: May 6, 2013
 Recording
Information: 6205076 through 6205080
 (Affects a leasehold portion of said premises and other property).

 
 Assignment of leases and/or rents and the terms and conditions thereof:

Assignor: North Town Mall, LLC, a Delaware limited liability company

Assignee: U.S. Bank National Association, as Administrative Agent

Recorded: May 6, 2013
 Recording Information: 6205081 and
6205082
 (Affects a leasehold portion of said premises and other property).

  
 23 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501946	  	1038	  	Spokane	  	WA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	Scrivener’s error in the legal description attached to the DOT, the Limited Warranty Deed to the SRC entity, and the leaseback Lease to Sears, Roebuck and Co. All omitted the number “1” in the second line of the legal
description after the words “as per plat recorded in Volume”.
						
	21501947	  	1099	  	Federal Way	  	WA	  	 U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO.

2003-A
	  	No Issues.
						
	21501948	  	1139	  	Tukwila	  	WA	  	 GROUND SUBLEASED PROPERTY
  

Fee Owner/Ground Lessor: WEA Southcenter LLC
  

Ground Lessee:
 WEA Southcenter LLC (no merger of estates)

 
 Ground Sublessee/Ground Sublessor: U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE OF THE
SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	 Claim of mechanic’s lien by Pacific Rainier Roofing Inc. against Anderson Construction Co. in the amount of $64,476.00 recorded July 22,
2015 as 20150722001425.
  
 Master Lease recorded as Doc. No. 6008264 by and between
Connecticut General Life Insurance Company (Landlord) and Southcenter Shopping Center Corporation (Tenant) Dated: March 31, 1966 and assignments of lessee’s interest under recording nos. 8506281583, 8512171131, 1999070100217, and certificate of
merger 20030721002386.
  
 Deed of Trust

Grantor/Trustor: WEA Southcenter LLC, a Delaware limited liability company

Grantee/Beneficiary: Pacific Life Insurance Company, a Nebraska corporation

Trustee: Chicago Title Insurance Company
 Amount:
$250,000,000.00
 Recorded: December 29, 2009
 Recording
Information: 20091229000432
  
 Assignment of leases and/or rents

Assignor: WEA Southcenter LLC, a Delaware limited liability company

Assignee: Pacific Life Insurance Company, a Nebraska corporation

Recorded: December 29, 2009
 Recording Information:
200912290004

  
 24 

											
	 CTIC Title No.
	  	Store No.	  	 City
	  	State	  	 Title Vested:
	  	 REMIC Existing Liens

	21501949	  	2029	  	Union Gap	  	WA	  	 GROUND LEASED PROPERTY
  

Fee Owner/Ground Lessor: Valley Mall, L.L.C.
  

Ground Lessee: U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A
	  	 Encroachments and other survey matters relating to survey prepared by PLSA Engineering-Surveying-Planning dated October 14, 2013, and
amended October 22, 2013 and October 25, 2013, under Job #13205.
  
 Deed of
Trust and the terms and conditions thereof.
 Grantor/Trustor: Valley Mall, L.L.C., a Delaware limited liability company

Grantee/Beneficiary: Bank of America, N.A., a national banking association

Trustee: Prlap, Inc., a Washington corporation
 Amount:
$42,000,000.00
 Recorded: October 30, 2013
 Recording
Information: 7822351, 7822352 and 7822353
  
 Memorandum of Lease between Union Gap
Property, L.L.C., a Delaware limited liability company, and The Bon, Inc., an Ohio corporation.
  

Memorandum of Lease and the terms and conditions thereof, executed by Union Gap Property, LLC, a Delaware limited liability company, and The TJX Companies,
Inc., a Delaware corporation as Lessee, dated December 13, 2002, and recorded February 18, 2003, under Auditor’s File Number 7317415.
  

Memorandum of Lease and the terms and conditions thereof, executed by Valley Mall, L.L.C., a Delaware limited liability company, as Lessor, and Wingmen V, LLC,
a Washington limited liability company as Lessee, dated January 29, 2015, and recorded February 24, 2015, under Auditor’s File Number 7865086, and recorded April 21, 2015, under Auditor’s File Number 7870377.

						
	21501950	  	2219	  	Olympia (Lacey)	  	WA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.
						
	21501951	  	2309	  	Silverdale	  	WA	  	U.S. BANK TRUST NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SRC FACILITIES STATUTORY TRUST NO. 2003-A	  	No Issues.

  
 25 

 Exhibit 7 

REMIC Properties 
 [See
Attached] 

 Portions of this document have been redacted pursuant to a Request for Confidential Treatment filed with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

REMIC Values 
  

									
	 Unit
	  	 Address
	  	 City
	  	ST	  	 [**]

	2819	  	Airport Way	  	Fairbanks	  	AK	  	[**]
	1141	  	14200 E. Alameda Avenue	  	Aurora	  	CO	  	[**]
	1221	  	1650 Briargate Blvd	  	Colorado Spgs	  	CO	  	[**]
	1271	  	8501 W Bowles Ave	  	Littleton	  	CO	  	[**]
	1831	  	Sears Grand Thornton	  	Thornton	  	CO	  	[**]
	1035	  	3450B Wrightsboro Rd	  	Augusta	  	GA	  	[**]
	1095	  	6580 Douglas Blvd	  	Douglasville	  	GA	  	[**]
	1155	  	400 Ernest W Barrett Pkwy Nw	  	Kennesaw	  	GA	  	[**]
	1565	  	1300 Southlake Mall	  	Morrow	  	GA	  	[**]
	1685	  	Gwinnett Place Mall	  	Duluth	  	GA	  	[**]
	2115	  	2215 Memorial Dr Ste 400	  	Waycross	  	GA	  	[**]
	2845	  	3700 Atlanta Hwy Ste 270	  	Athens	  	GA	  	[**]
	8745	  	4650 Hugh Howell Rd	  	Tucker	  	GA	  	[**]
	1172	  	Stratford Sq Mall	  	Bloomingdale	  	IL	  	[**]
	1321	  	2200 W War Memorial Dr Ste 998	  	Peoria	  	IL	  	[**]
	1780	  	104 White Oaks Mall	  	Springfield	  	IL	  	[**]
	1820	  	Spring Hill Mall	  	West Dundee	  	IL	  	[**]
	1840	  	6501 95Th St	  	Chicago Ridge	  	IL	  	[**]
	2121	  	1607 36Th St	  	Peru	  	IL	  	[**]
	2250	  	105 Northwest Highway	  	Crystal Lake	  	IL	  	[**]
	1600	  	6020 E 82Nd St Ste 200	  	Indianapolis	  	IN	  	[**]
	1650	  	Southlake Mall	  	Merrillville	  	IN	  	[**]
	1680	  	10202 E Washington St	  	Indianapolis	  	IN	  	[**]
	1800	  	6501 Grape Rd	  	Mishawaka	  	IN	  	[**]
	2290	  	Marquette S/C	  	Michigan City	  	IN	  	[**]
	1012	  	4000 Merle Hay Rd	  	Des Moines	  	IA	  	[**]
	2422	  	Southern Hills Mall	  	Sioux City	  	IA	  	[**]
	2760	  	320 W Kimberly Rd	  	Davenport	  	IA	  	[**]
	1642	  	1781 Sw Wanamaker Road	  	Topeka	  	KS	  	[**]
	1730	  	3000 Mall Rd	  	Florence	  	KY	  	[**]
	1790	  	4807 Outer Loop	  	Louisville	  	KY	  	[**]
	1077	  	3601 Southern Ave	  	Shreveport	  	LA	  	[**]
	1086	  	9001 Cortana Mall	  	Baton Rouge	  	LA	  	[**]
	1116	  	4800 Millhaven Rd	  	Monroe	  	LA	  	[**]
	1147	  	6501 Blubonnet Blvd	  	Baton Rouge	  	LA	  	[**]
	1226	  	Sears Clearview	  	Metairie	  	LA	  	[**]
	1286	  	New Orleans Oakwood S/C	  	Gretna	  	LA	  	[**]
	2087	  	Alexandria Mall S C	  	Alexandria	  	LA	  	[**]
	2677	  	Pierre Bossier Mall	  	Bossier City	  	LA	  	[**]

 Portions of this document have been redacted pursuant to a Request for Confidential Treatment filed with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

REMIC Values 
  

									
	 Unit
	  	 Address
	  	 City
	  	ST	  	 [**]

	1033	  	Emerald Sq Mall	  	N Attleboro	  	MA	  	[**]
	1104	  	521 Donald Lynch Blvd	  	Marlborough	  	MA	  	[**]
	1223	  	200 Westgate Dr	  	Brockton	  	MA	  	[**]
	1343	  	100 Cambridgeside Pl	  	Cambridge	  	MA	  	[**]
	2934	  	Silver City Galleria	  	Taunton	  	MA	  	[**]
	1074	  	11170 Mall Circle	  	Waldorf	  	MD	  	[**]
	1424	  	7103 Democracy Blvd.	  	Bethesda	  	MD	  	[**]
	1754	  	701 Russell Ave	  	Gaithersburg	  	MD	  	[**]
	1854	  	8200 Perry Hall	  	Baltimore	  	MD	  	[**]
	1011	  	3622 Rivertown Pkwy Sw	  	Grandville	  	MI	  	[**]
	1092	  	35000 Warren Rd	  	Westland	  	MI	  	[**]
	1110	  	6780 S Westnedge Ave	  	Portage	  	MI	  	[**]
	1192	  	5500 Harvey St	  	Muskegon	  	MI	  	[**]
	1700	  	18900 Michigan Ave Ste 1001	  	Dearborn	  	MI	  	[**]
	1720	  	14100 Lakeside Cir	  	Sterling Hts	  	MI	  	[**]
	1760	  	27600 Novi Road	  	Novi	  	MI	  	[**]
	2040	  	5575 B Drive N	  	Battle Creek	  	MI	  	[**]
	2180	  	1212 S Airport Rd W	  	Traverse City	  	MI	  	[**]
	1166	  	1740 Bonita Lakes Cir	  	Meridian	  	MS	  	[**]
	1306	  	1000 Turtle Creek Dr	  	Hattiesburg	  	MS	  	[**]
	1042	  	101 N Rangeline Rd	  	Joplin	  	MO	  	[**]
	1171	  	2825 S Glenstone Ave, Suite 500	  	Springfield	  	MO	  	[**]
	1182	  	#3 Mid Rivers Mall Dr	  	St Peters	  	MO	  	[**]
	1222	  	250 S County Center Way	  	Saint Louis	  	MO	  	[**]
	1690	  	#1 Chesterfield Mall	  	Chesterfield	  	MO	  	[**]
	1822	  	Sears Grand Cape Girardeau	  	Cpe Girardeau	  	MO	  	[**]
	1314	  	51 Us Hwy #1	  	New Brunswick	  	NJ	  	[**]
	1554	  	4409 Black Horse Pike	  	Mays Landing	  	NJ	  	[**]
	1614	  	S Orange Ave & Walnut St	  	Livingston	  	NJ	  	[**]
	1734	  	300 Quaker Bridge Mall	  	Lawrenceville	  	NJ	  	[**]
	1764	  	Route 90 & Mt. Hope Avenue	  	Rockaway	  	NJ	  	[**]
	1874	  	Rr 541 Box I-295	  	Burlington	  	NJ	  	[**]
	1717	  	10000 Coors Bypass Nw	  	Albuquerque	  	NM	  	[**]
	2207	  	1000 S Main St	  	Roswell	  	NM	  	[**]
	1165	  	Carolina Mall	  	Concord	  	NC	  	[**]
	1375	  	3320 Silas Creek Pkwy	  	Winston Salem	  	NC	  	[**]
	1405	  	Cross Creek Mall	  	Fayetteville	  	NC	  	[**]
	1455	  	Independence Mall	  	Wilmington	  	NC	  	[**]
	1475	  	6910 Fayetteville Rd Ste 400	  	Durham	  	NC	  	[**]

 Portions of this document have been redacted pursuant to a Request for Confidential Treatment filed with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

REMIC Values 
  

									
	 Unit
	  	 Address
	  	 City
	  	ST	  	 [**]

	1605	  	7330 Old Wake Forest Rd	  	Raleigh	  	NC	  	[**]
	1805	  	4601 Glenwood Ave Unit 1	  	Raleigh	  	NC	  	[**]
	2175	  	240 Carolina East Mall	  	Greenville	  	NC	  	[**]
	2515	  	Valley Hills Mall	  	Hickory	  	NC	  	[**]
	1712	  	2800 S Columbia Rd	  	Grand Forks	  	ND	  	[**]
	1051	  	17271 Southpark Ctr	  	Strongsville	  	OH	  	[**]
	1120	  	5053 Tuttle Crossing Blvd	  	Columbus	  	OH	  	[**]
	1210	  	1400 Polaris Parkway	  	Columbus	  	OH	  	[**]
	1710	  	5000 Great Northern Mall	  	North Olmsted	  	OH	  	[**]
	1810	  	Eastgate Mall	  	Cincinnati	  	OH	  	[**]
	2010	  	Richland Mall S/C	  	Mansfield	  	OH	  	[**]
	2390	  	Upper Vly Mall S/C	  	Springfield	  	OH	  	[**]
	1545	  	205 W Blackstock Rd Ste C	  	Spartanburg	  	SC	  	[**]
	1595	  	700 Haywood Rd	  	Greenville	  	SC	  	[**]
	2305	  	3101 N Main St	  	Anderson	  	SC	  	[**]
	2855	  	Citadel Mall	  	Charleston	  	SC	  	[**]
	1027	  	750 Sunland Park Dr	  	El Paso	  	TX	  	[**]
	1076	  	2401 S Stemmons Fwy Ste 5000	  	Lewisville	  	TX	  	[**]
	1176	  	999 Pasadena Blvd	  	Pasadena	  	TX	  	[**]
	1187	  	Town East Mall	  	Mesquite	  	TX	  	[**]
	1217	  	1305 Airline Rd	  	Corpus Chrsti	  	TX	  	[**]
	1267	  	1800 Green Oaks Rd	  	Fort Worth	  	TX	  	[**]
	1297	  	1101 Melbourne Rd Ste 7000	  	Hurst	  	TX	  	[**]
	1307	  	4310 Buffalo Gap Rd	  	Abilene	  	TX	  	[**]
	1317	  	8401 Gateway Blvd W	  	El Paso	  	TX	  	[**]
	1327	  	1000 San Jacinto Mall	  	Baytown	  	TX	  	[**]
	1337	  	851 N Central Expwy	  	Plano	  	TX	  	[**]
	1367	  	6001 W Waco Dr	  	Waco	  	TX	  	[**]
	1377	  	7925 Fm 1960 Rd W	  	Houston	  	TX	  	[**]
	1387	  	7701 1-40 W Ste 400	  	Amarillo	  	TX	  	[**]
	1407	  	6461 Eastex Fwy	  	Beaumont	  	TX	  	[**]
	1417	  	20131 Highway 59 N	  	Humble	  	TX	  	[**]
	1427	  	6909 N Loop 1604 E	  	San Antonio	  	TX	  	[**]
	1437	  	Parks Mall	  	Arlington	  	TX	  	[**]
	1447	  	4900 S Hulen Street	  	Fort Worth	  	TX	  	[**]
	1487	  	11200 Lakeline Mall Dr	  	Cedar Park	  	TX	  	[**]
	2197	  	10000 Emmett F Lowry Expy	  	Texas City	  	TX	  	[**]
	2247	  	Mall Del Norte	  	Laredo	  	TX	  	[**]
	2497	  	Sunrise Mall	  	Brownsville	  	TX	  	[**]
	2547	  	Post Oak Mall	  	College Station	  	TX	  	[**]

 Portions of this document have been redacted pursuant to a Request for Confidential Treatment filed with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

REMIC Values 
  

									
	 Unit
	  	 Address
	  	 City
	  	ST	  	 [**]

	2557	  	Longview Texas Mall	  	Longview	  	TX	  	[**]
	2587	  	Golden Triangle Mall	  	Denton	  	TX	  	[**]
	1029	  	4700 N Division St	  	Spokane	  	WA	  	[**]
	1038	  	14720 E Indiana Ave	  	Spokane	  	WA	  	[**]
	1099	  	1701 S 320Th St	  	Federal Way	  	WA	  	[**]
	1139	  	301 Southcenter Mall	  	Tukwila	  	WA	  	[**]
	2029	  	9 E Valley Mall Blvd	  	Union Gap	  	WA	  	[**]
	2219	  	S Sound Ctr	  	Lacey	  	WA	  	[**]
	2309	  	10315 Silverdale Way Nw	  	Silverdale	  	WA	  	[**]

 Exhibit 8 

All Sales, Substitutions, or Transfers of Any IP Assets Out of the IP Subsidiary From and 

After October 1, 2014 Until Closing 

None. 

 Exhibit 9 

IP Existing Liens 
 None.

 Exhibit 10-A 

Certain Information Regarding the IP Subsidiary 

A. Organizational identification number of IP Subsidiary: 

FEIN: NONE (disregarded entity for tax purposes) 
 Organizational
ID#: 4153029 
 B. Address of chief executive office of IP Subsidiary: 

3333 Beverly Road 
 Hoffman Estates, IL 60179 

 Exhibit 10-B 

IP Assets 
 [See Attached]

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	CONTINUTURN (Stylized)	 	

	 	86/516568	 	01/28/2015	 	4803873	 	09/01/2015	 	008: Hand tools, namely, ratchets, screwdrivers, and nut drivers
								
	United States	 	CRAFTSMAN	 		 	73/554435	 	08/16/1985	 	1389958	 	04/15/1986	 	021: ALL-PURPOSE WIRE CLEANING AND SCRAPING BRUSHES
								
	United States	 	CRAFTSMAN	 		 	73/561124	 	10/02/1985	 	1388833	 	04/08/1986	 	007: LAWN SPREADERS, COMPRESSED AIR SPRAYER
								
	United States	 	CRAFTSMAN	 		 	73/561130	 	10/02/1985	 	1388982	 	04/08/1986	 	011: LAWN AND GARDEN SPRAY UNITS TO BE CONNECTED TO A WATER SUPPLY
								
	United States	 	CRAFTSMAN	 		 	73/568162	 	11/13/1985	 	1397661	 	06/17/1986	 	017: AIR HOSE FOR PNEUMATIC TOOLS
								
	United States	 	CRAFTSMAN	 		 	73/572130	 	12/10/1985	 	1418186	 	11/25/1986	 	008: PIN PUNCHES, BRAKE ADJUSTING TOOLS, CARPENTER’S CLAMPS, C-CLAMPS, V-BLOCKS, V-BLOCKS AND C-CLAMP SETS, AND CLAMPS IN THENATURE OF HAND TOOLS
								
	United States	 	CRAFTSMAN	 		 	73/572132	 	12/10/1985	 	1400931	 	07/15/1986	 	007: LAWN VACUUMS WITH SHREDDING AND BAGGING CAPACITY, LAWN SWEEPERS, LAWN VACUUMS (LAWN VALETS), SNOW THROWERS
								
	United States	 	CRAFTSMAN	 		 	73/583707	 	02/20/1986	 	1440446	 	05/26/1987	 	007: RIDING LAWN MOWERS; RIDING MOWER GRASS CATCHERS; 012: GARDEN TRACTORS AND SLEEVE HITCH ATTACHMENTS FOR GARDEN TRACTORS; GARDEN CARTS, WHEELBARROWS AND HAND TRUCKS
								
	United States	 	CRAFTSMAN	 		 	73/583730	 	02/20/1986	 	1410237	 	09/23/1986	 	009: ELECTRIC WET-DRY VACUUMS
								
	United States	 	CRAFTSMAN	 		 	73/585671	 	03/04/1986	 	1409457	 	09/16/1986	 	020: TOOL CHESTS; DIVIDERS FOR TOOL CHESTS; ROLLAWAY TOOL CABINETS; SIDE SHELVES FOR ROLLAWAYS, PROFESSIONAL WORK CHESTS; TOOL CADDIES, INCLUDING MOBILE TYPE; PORTABLE TOOL CABINETS WITH OR WITHOUT WHEELS; SLIDING WORK SURFACES;
SLIDING TRAYS, 2-DRAWER ADD-ON SETS, SECURITY DRAWERS, 9 DRAWERS FOR ROLLAWAYS
								
	United States	 	CRAFTSMAN	 		 	73/585946	 	03/04/1986	 	1413049	 	10/14/1986	 	007: POWER-OPERATED TOOLS, AND PARTS AND ACCESSORIES THEREFOR, NAMELY, HAMMER DRILLS, IMPACT WRENCHES, PLANERS, SHEARS, NIBBLERS, CUTTER BLADES, RIP GUIDES, NIBBLER HEADS, IMPACT CHUCK AND BIT SETS, CHUCKS, EDGE GUIDES, BLADE
HOLDERS, TOOL POST HOLDERS; SANDERS ACCESSORIES, NAMELY, SANDING PLATEN ASSEMBLIES, SANDING PADS, SANDING DISCS, SANDING GUARDS, COMMERCIAL WAX REMOVING BONNETS, BUFFING BONNETS, POLISHING HEADS; AIR TOOLS AND ACCESSORIES, NAMELY, ORBITAL SANDERS,
ROTARY SANDERS, STRAIGHT LINE SANDERS, ROTARY/ORBITAL SANDERS; DIE GRINDERS, DIE GRINDER KITS, HOLDERS FOR ROTARY GRINDERS, CUTTERS, DISCS FOR CUTTERS, SHORT BARREL HAMMERS, LONG BARREL HAMMERS, DRILLS; ELECTRONIC DRILLS, ROUTERS, SCROLLERS;
ELECTRIC GENERATORS; TILLERS
								
	United States	 	CRAFTSMAN	 		 	73/595387	 	04/26/1986	 	1418956	 	12/02/1986	 	007: LAWN DETHATCHERS
								
	United States	 	CRAFTSMAN	 		 	73/735766	 	06/23/1988	 	1546082	 	07/04/1989	 	007: AGRICULTURAL AND EARTH WORKING IMPLEMENTS FOR USE WITH LAWN MOWERS OR TRACTORS, NAMELY, ROLLERS, AERATORS, PLOWS, PLOW BLADES, HARROW BLADES, GRADER BLADES, SNOW BLADES, DOZER BLADES, CULTIVATORS AND FURROW OPENERS; 012: CARTS,
TRACTOR CABS, AND WHEEL WEIGHTS FOR ENHANCING THE STABILITY AND TRACTION OF TRACTOR WHEELS
								
	United States	 	CRAFTSMAN	 		 	74/052843	 	04/26/1990	 	1631332	 	01/15/1991	 	007: well pumps
								
	United States	 	CRAFTSMAN 	 		 	74/145062	 	03/07/1991	 	1692451	 	06/09/1992	 	007: sump pumps

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	CRAFTSMAN	 		 	74/194694	 	08/15/1991	 	1707786	 	08/18/1992	 	007: lawn and garden equipment; namely, power blowers
								
	United States	 	CRAFTSMAN	 		 	74/194695	 	08/15/1991	 	1707787	 	08/18/1992	 	007: gasoline-powered and electric chipper-shredders
								
	United States	 	CRAFTSMAN	 		 	74/199960	 	09/04/1991	 	1702866	 	07/28/1992	 	007: lawn and garden equipment; namely, power edgers, trimmers and edger-trimmers
								
	United States	 	CRAFTSMAN	 		 	74/200819	 	09/06/1991	 	1702867	 	07/28/1992	 	007: lawn and garden equipment; namely, power cultivators
								
	United States	 	CRAFTSMAN	 		 	74/211366	 	10/12/1991	 	1702871	 	07/28/1992	 	007: chain saws
								
	United States	 	CRAFTSMAN	 		 	74/214791	 	10/24/1991	 	1702873	 	07/28/1992	 	007: lawn and garden equipment; namely, power sprayer washers
								
	United States	 	CRAFTSMAN	 		 	74/302612	 	08/11/1992	 	1781282	 	07/13/1993	 	011: electric lighting products; namely, worklights, and worklights with retractable cord reels sold as a unit
								
	United States	 	CRAFTSMAN	 		 	74/396913	 	06/02/1993	 	1824278	 	03/01/1994	 	009: electrical cord reels and electrical surge arresters
								
	United States	 	CRAFTSMAN	 		 	74/569778	 	09/07/1994	 	1927755	 	10/17/1995	 	025: clothing, namely suspenders, belts, hats, gloves
								
	United States	 	CRAFTSMAN	 		 	75/048509	 	01/26/1996	 	2087020	 	08/12/1997	 	008: hand tools, namely, lug wrenches, spring clamps, drain augers, stud fingers, and bar clamps; 009: replacement blades for tape measures; 016: carpenter pencils
								
	United States	 	CRAFTSMAN	 		 	75/599889	 	12/05/1998	 	2564043	 	04/23/2002	 	009: ELECTRONIC ACOUSTIC SIGNAL LEVEL MEASURING TOOL
								
	United States	 	CRAFTSMAN	 		 	76/086056	 	07/11/2000	 	2569359	 	05/14/2002	 	009: Electronic measuring devices, namely, multimeters, battery testers, ammeters, digital thermometers not for medical purposes, digital chronograph measuring devices for use in specialized time recording, and benchtop, compact and
pocket sized multitesters
								
	United States	 	CRAFTSMAN	 		 	76/335657	 	11/09/2001	 	2727995	 	06/17/2003	 	016: GIFT CARDS
								
	United States	 	CRAFTSMAN	 		 	78/125416	 	05/02/2002	 	2760368	 	09/02/2003	 	028: TOYS, NAMELY, TOY HAND TOOLS, TOY POWER TOOLS, TOY TOOL STORAGE UNITS, TOY TRUCKS, TOY WORK BENCHES, TOY FLASHLIGHTS, MULTIPLE ACTIVITY TOYS, ELECTRONICALLY OPERATED TOY MOTOR VEHICLES AND TOY WAGONS
								
	United States	 	CRAFTSMAN	 		 	78/161856	 	09/10/2002	 	2896351	 	10/19/2004	 	025: FOOTWEAR, NAMELY, SHOES AND BOOTS
								
	United States	 	CRAFTSMAN	 		 	78/314732	 	10/16/2003	 	2941737	 	04/19/2005	 	011: Battery-operated flashlights; Electric lighting products; namely, worklights, and worklights with retractable cord reels sold as a unit; electric lanterns
								
	United States	 	CRAFTSMAN	 		 	78/314946	 	10/17/2003	 	2916288	 	01/04/2005	 	006: Metal tool boxes; metal casters for roller cabinets; 017: Garden hoses; lawn hoses; air hoses; 021: LAWN SPRINKLERS; HOSE NOZZLES
								
	United States	 	CRAFTSMAN	 		 	78/315026	 	10/17/2003	 	2936154	 	03/29/2005	 	007: full line of power tools and attachments therefore for home, workshop, yard, automotive and industrial use; a full line of gasoline and electric powered lawn and garden tools for home and commercial use; jacks, namely,
hydraulic jacks; lawn and garden equipment, namely, power sprayer washers, power cultivators, power edgers, power trimmers and edger-trimmers, power blowers; chain saws; gasoline-powered and electric chipper-shredders; sump pumps; well pumps;
agricultural and earth working implements for use with lawn mowers or tractors, namely, rollers, aerators, plows, plow blades, harrow blades, grader blades, snow blades, dozer blades, cultivators and furrow openers; power-operated lawn dethatchers;
power-operated tools, namely, hammer drills, impact wrenches, planers, shears, nibblers, cutter blades, rip guides, nibbler heads,

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

		 		 		 		 		 		 		 	impact chuck and bit sets, chucks, edge guides, blade holders, tool post holders, and replacement parts therefore; accessories for power sanders, namely, sanding plate assemblies, sanding pads, sanding discs, sanding guards,
commercial wax removing bonnets, buffing bonnets, polishing heads; air tools and accessories, namely, orbital sanders, rotary sanders, straight line sanders, rotary/orbital sanders; power-operated die grinders, power-operated die grinder kits
comprised of carbide bits, abrasive discs, grinding motor, collets and storage case, holders for power-operated rotary grinders, power operated cutters, discs for power-operated cutters, short barrel power-operated hammers, long barrel
power-operated hammers, power drills; electronic drills, routers and scrollers; electric generators; tillers, namely, power-operated garden tillers; riding lawn mowers, namely, rear engine riding lawn mowers; riding mower grass catchers, mowing
decks and wheels for lawn mowers; lawn vacuums with shredding and bagging capacity, power-operated lawn sweepers, lawn vacuums, snow throwers; lawn mower accessories, namely, replacement blades, replacement wheels
								
	United States	 	CRAFTSMAN	 		 	78/315143	 	10/17/2003	 	2957029	 	05/31/2005	 	008: full line of manually operated tools and attachments therefore for home, workshop, yard, automotive and industrial use; hand tools, namely, lug wrenches, spring clamps, stud fingers, and bar clamps, carpenter’s squares,
tool holsters, tool holders, tool holders in the nature of work aprons; pin punches, brake adjusting tools, carpenter’s clamps, c-clamps, c-clamp sets, and clamps in the nature of hand tools, mauls, utility knives and blades, steel cradle
hammer/hatchet holders, sledges, splitting wedges, nail pullers and bars, mattocks, lopping shears, punches, tin snips, shaping planes, shaping files, round shaping files, tapand die sets, and tote shovels; and mechanics’ hand tools, namely,
socket wrenches and sockets, ratchet wrenches, spinner handles for socket wrenches, extension bars, combination wrenches, ignition wrenches, hex keys wrenches, hacksaws; manual electrical crimping tools; hand tools, namely, plasma cutters
								
	United States	 	CRAFTSMAN	 		 	78/315279	 	10/17/2003	 	2951463	 	05/17/2005	 	009: electronic measuring devices, namely, multimeters, battery testers, ammeters, digital thermometers not for medical purposes, digital chronograph measuring devices for use in specialized time recording, and benchtop, compact and
pocket sized multitesters; Electronic acoustic signal level measuring tool; Replacement blades for tape measures; Tape measures, tape measure holders, protective knee pads; Electrical cord reels and electrical surge arresters; Electric garage door
openers; Engine analyzers and timing lights ; Batteries and battery chargers; Safety glasses
								
	United States	 	CRAFTSMAN	 		 	78/315335	 	10/17/2003	 	2895793	 	10/19/2004	 	012: Carts, tractor cabs, and wheel weights for enhancing the stability and traction of tractor wheels; Lawn tractors, namely, rear engine lawn tractors, garden tractors and sleeve hitch attachments for garden tractors; garden
carts, wheelbarrows and hand trucks
								
	United States	 	CRAFTSMAN	 		 	78/317726	 	10/23/2003	 	2913074	 	12/21/2004	 	018: Tool bags, tool pouches and nail/tool bags, all sold empty
								
	United States	 	CRAFTSMAN	 		 	78/317818	 	10/23/2003	 	2913075	 	12/21/2004	 	020: Tool chests; dividers for tool chests; rollaway tool cabinets; side shelves for rollaway tool cabinet; tool caddies, namely, non-metal tool boxes, including mobile type; portable tool cabinets with or without wheels; sliding
work surfaces for tool cabinets and tool

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

		 		 		 		 		 		 		 	chests; sliding trays for tool cabinets and tool chests, drawer add-on sets, namely, drawers and dividers therefor; security drawers, drawers for rollaways, cantilever trays for tool cabinets and tool chests; socket organizers and
socket trays for use as parts of tool cabinets; parts trays for tool cabinets and tool chests; drawer dividers, plastic mat inserts for tool cabinets and tool chests; work benches; and router tables
								
	United States	 	CRAFTSMAN	 		 	78/570980	 	02/18/2005	 	3128951	 	08/15/2006	 	025: Clothing, namely, overalls, work shirts, coveralls, jeans, workpants, coats, jackets, vests, t-shirts, fleece tops and woven shirts, and footwear
								
	United States	 	CRAFTSMAN	 		 	85/151277	 	10/14/2010	 	4058681	 	11/22/2011	 	006: Manually operated metal garden hose valves; metal garden hose connectors; 021: Lawn and garden sprinklers, sprayer nozzles for garden hoses, sprayer wands for garden hoses
								
	United States	 	CRAFTSMAN	 		 	85/364259	 	07/07/2011	 	4203435	 	09/04/2012	 	025: Apparel, namely, tops, bottoms, shirts, sweaters, sweatshirts, pants, sweatpants, jeans, shorts, jackets; headwear; socks
								
	United States	 	CRAFTSMAN	 		 	85/981852	 	03/22/2013	 	4577312	 	07/29/2014	 	001: Chemical oil additives; chemical gasoline and diesel additives
								
	United States	 	CRAFTSMAN
(STYLIZED 3; HALF
CIRCLE)	 	

	 	71/571099	 	12/25/1948	 	551494	 	12/04/1951	 	 003: Buffing and polishing supplies, namely, abrasive paper rolls (for sharpening knives, tools, etc.), abrasive stones;

007: Buffing and polishing equipment, namely, grinding wheels (if powered); Sharpening stones, grindstones (if part of a machine);

008: Buffing and polishing equipment, namely, grinding wheels (if a hand tool); Sharpening stones, grindstones (if part of hand tool)

								
	United States	 	CRAFTSMAN
(STYLIZED)	 	

	 	71/570647	 	12/17/1948	 	565462	 	10/21/1952	 	 006: TOOL BOXES, TOOL CHESTS, DRILL CASES AND STANDS FOR HOLDING DRILLS, HOSE REELS, ALL SOLD EMPTY IN THE TRADE (if metal);

020: TOOL BOXES, TOOL CHESTS, DRILL CASES AND STANDS FOR HOLDING DRILLS, HOSE REELS, ALL SOLD EMPTY IN THE TRADE (if non-metal)

								
	United States	 	CRAFTSMAN
(STYLIZED)	 	

	 	71/570648	 	12/17/1948	 	550390	 	11/06/1951	 	 006: HOSE COUPLINGS, HOSE NOZZLES (if metal);

020: HOSE COUPLINGS, HOSE NOZZLES (if non-metal);
 021: LAWN
SPRINKLERS

								
	United States	 	CRAFTSMAN
(STYLIZED)	 	

	 	71/570655	 	12/17/1948	 	551491	 	12/04/1951	 	008: Miter boxes, square; 009: Levels, tape lines, rules, micrometers, calipers, thickness gauges, depth gauges, center gauges, dividers, feeler gauges, wire gauges, thread gauges, magnifiers, plumb bobs, protractors, butt gauges,
transits
								
	United States	 	CRAFTSMAN
(STYLIZED)	 	

	 	71/570657	 	12/17/1948	 	576891	 	07/07/1953	 	009: ELECTRICAL GOODS-NAMELY, MOTORS; ELECTRICAL HAND MANIPULABLE PORTABLE DRILLS AND SAWS; PORTABLE HAND SANDERS AND POLISHERS; SOLDERING IRONS; ROTARY TOOL ATTACHMENTS FOR ELECTRIC HAND DRILLS OR DRILL PRESSES, SOLD AS A
UNIT-NAMELY, ROTARY PLANERS, CYLINDER GRINDERS (AUTO): PORTABLE HAND GRINDERS; ARC WELDERS; NAMELY, TORCHES, PRIMARY CABLE, POLARIZED PLUG AND RECEPTACLE, AND ELECTRODE HOLDERS
								
	United States	 	CRAFTSMAN
APPRENTICE SERIES	 		 	85/963320	 	06/18/2013	 		 		 	 007: Power tools, namely, power screwdrivers and power drills, all designed for use by individuals with smaller than normal hands;

008: Hand tools, namely, hammers, clamps, mallets, hand saws, pliers, screwdrivers, wrenches, socket wrenches, ratchet wrenches and nut drivers, all designed
for use by individuals with smaller than normal hands;
 009: Tape rulers; Carpenter’s levels, all designed for use by individuals with smaller than
normal hands

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	CRAFTSMAN CLUB	 		 	75/550390	 	09/05/1998	 	2363819	 	07/04/2000	 	035: BUYING CLUBS FEATURING CONTESTS AND NEWSLETTERS THAT FEATURE INFORMATION ON TOOLS
								
	United States	 	CRAFTSMAN
CONTINUTURN	 		 	86/146460	 	12/17/2013	 	4721195	 	04/14/2015	 	008: Hand tools, namely, ratchets, screwdrivers, and nut drivers
								
	United States	 	CRAFTSMAN DAYS	 		 	85/607461	 	04/25/2012	 	4356501	 	06/25/2013	 	035: Retail store services and online retail store services featuring hand tools, power tools, lawn and garden equipment, and tool storage and garage organization products
								
	United States	 	CRAFTSMAN EDGE	 		 	77/756647	 	06/11/2009	 	3914904	 	02/01/2011	 	008: Hand-operated cutting tools
								
	United States	 	CRAFTSMAN ELBOW	 		 	77/783962	 	07/18/2009	 	3929399	 	03/08/2011	 	008: Hand-operated tools, namely, hand-operated wrenches
								
	United States	 	CRAFTSMAN
EXPERIENCE	 		 	85/977124	 	11/15/2010	 	4259321	 	12/11/2012	 	 035: Entertainment services, namely, providing product demonstrations relating to home improvement, do-it-yourself projects and tools;

037: Providing a website featuring information, non-downloadable plans and tips relating to home improvement and do-it-yourself projects;

038: Streaming of audio, visual and audiovisual material on the Internet;

041: Entertainment services, namely, providing podcasts and video podcasts in the field of home improvement, do-it-yourself projects and tools; entertainment
services, namely, providing educational project demonstrations relating to home improvement, do-it-yourself projects and tools; entertainment services, namely, providing an on-going radio program in the field of home improvement, do-it-yourself
projects and tools

								
	United States	 	CRAFTSMAN
EXPERIENCE	 		 	85/176896	 	11/16/2010	 	4324834	 	04/23/2013	 	035: Retail store services and online retail store services in the fields of tools and home improvement products
								
	United States	 	CRAFTSMAN
INDUSTRIAL	 		 	77/830901	 	09/21/2009	 	4444040	 	12/03/2013	 	 006: Metal tool chest and tool boxes;
 008:
Manually operated hand tools, namely, screwdrivers, wrenches, pliers; Hand tools, namely, socket sets, wrenches, screwdrivers, nut drivers, nut driver bit set, and ratchet wrenches; Hand tool accessories, namely, extension bars, and spinner handles
for socket wrenches; 020: Non-metal tool boxes; metal roll away tool cabinets

								
	United States	 	CRAFTSMAN KID’S
CLUB	 		 	75/225029	 	01/14/1997	 	2174486	 	07/21/1998	 	041: children’s club featuring puzzles, contests, educational informational and newsletters containing information on tools
								
	United States	 	CRAFTSMAN
MAKECATION	 		 	86/285536	 	05/19/2014	 	4761686	 	06/23/2015	 	041: Entertainment services, namely, conducting contests

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	CRAFTSMAN
PROFESSIONAL	 		 	76/388448	 	03/28/2002	 	3047255	 	01/24/2006	 	 006: METAL TOOL CHEST AND TOOL BOXES;
 007:
WET/DRY VACUUMS; AIR COMPRESSORS; ELECTRIC GENERATORS; POWER OPERATED TOOLS; NAMELY, BUFFERS, POLISHERS, MULTI-PURPOSE HIGH-PRESSURED WASHERS, DRILLS, DRILL PRESSES, CIRCULAR SAWS, SABRE SAWS, BAND SAWS, MITER SAWS, RADIAL ARM SAWS, TABLE SAWS,
GRINDERS, ROUTERS, SANDERS, JOINTERS, PLANERS, IMPACT WRENCHES, RATCHET WRENCHES, DRYWALL SCREW GUNS, STAPLER AND NAIL GUNS; POWER TOOL HOLSTERS; REPLACEMENT BLADES FOR POWER SAWS; BOX JOINT ANDMETER GUIDE FOR USE ON TABLE SAWS; WIREAND WHEEL
BRUSHES FOR POWER TOOLS; MEASUREMENT GUIDES FOR USE ON TABLE ROUTERS; EXTENSION BARS FOR ROUTERS; BOX JOINT TEMPLATES; HYDRAULIC LIFT TABLES, HYDRAULIC JACKS, AND STANDS FOR HYDRAULIC JACKSAND FILTERS FOR WET/DRY VACUUMS;

008: MANUALLY OPERATED HAND TOOLS, NAMELY, SCREWDRIVERS, WRENCHES, PLIERS, UTILITY KNIVES AND UTILITY CUTTERS, MULTI-TOOLS, NAMELY, PLIER AND SCREWDRIVER
COMBINATION TOOL; HAND TOOLS, NAMELY, SOCKET SETS,WRENCHES, SCREWDRIVERS, NUTDRIVERS, NUTDRIVER BIT SET, HEX KEY SETS, AND RATCHET WRENCHES; HAND TOOL ACCESSORIES, NAMELY, UNIVERSAL JOINTS, ADAPTERS, EXTENSIONBARS, AND SPINNER HANDLES FOR SOCKETS
WRENCHES; HACKSAWS, BLADES FOR HACKSAWS, HAND POWERED STAPLER AND NAIL GUNS; MECHANICS’ INSPECTION MIRRORS, AND HAND TOOLS, NAMELY, MITER BOXES;
 009:
ELECTRIC ARC WELDERS AND WIRE FEED WELDERS; ELECTRONIC MEASURING DEVICES, NAMELY, MULTIMETERS, BATTERY TESTERS, AMMETERS, DIGITAL THERMOMETERS NOT FOR MEDICAL PURPOSES, DIGITAL CHRONOGRAPH MEASURING DEVICES FOR USE IN SPECIALIZED TIME RECORDING, AND
BENCHTOP, COMPACT AND POCKET SIZED MULTITESTERS; EXTENSION CORDS; TAPE MEASURES, TAPE MEASURE HOLDERS, PROTECTIVE KNEE PADS FOR NON-ATHLETIC USE, LEVELS, TAPE LINES, GRADUATED RULERS, MICROMETERS, CALIPERS FOR MEASURING, THICKNESS GAUGES, DEPTH
GAUGES, CENTER GAUGES, FEELER GAUGES, WIRE GAUGES, THREAD GAUGES, PLUMB BOBS, ELECTRIC SOLDERING IRONS, ELECTRONIC TESTING EQUIPMENT IN THE NATURE OF ENGINE ANALYZERS AND TIMING LIGHTS, AND VOLTAGE SURGE ARRESTERS;

011: ELECTRIC LIGHTING PRODUCTS; NAMELY, PORTABLE WORKLIGHTS, PORTABLE WORKLIGHTS WITH RETRACTABLE CORD REELS SOLD AS A UNIT, RECHARGEABLE LANTERNS;

012: MECHANICS’ CREEPERS; AND METAL TOOL CARTS, DIVIDERS AND COVERS THEREFOR;

020: NON-METAL TOOL BOXES; WORK BENCHES; METAL ROLL AWAY CABINETS AND COVERS THEREFOR

								
	United States	 	CRAFTSMAN PROJECT
EDISION (LOGO)	 	

	 	85/177991	 	11/17/2010	 	3985364	 	06/28/2011	 	035: Providing incentive award programs for consumers to promote consumer submission of product ideas and inventions
								
	United States	 	CRAFTSMAN QUICK-
LIFT	 		 	86/035437	 	08/12/2013	 	4619610	 	10/14/2014	 	020: Adjustable metal tool stands
								
	United States	 	DIE HARD	 		 	72/286556	 	12/09/1967	 	858218	 	10/08/1968	 	009: AUTOMOBILE STORAGE BATTERY

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	DIEHARD	 		 	74/099621	 	09/22/1990	 	1696168	 	06/23/1992	 	025: hats
								
	United States	 	DIEHARD	 		 	74/333603	 	11/24/1992	 	1781544	 	07/13/1993	 	025: footwear
								
	United States	 	DIEHARD	 		 	75/525906	 	07/28/1998	 	2276072	 	09/07/1999	 	009: batteries for motorcycles, tractors, marine equipment, namely boats and battery chargers
								
	United States	 	DIEHARD	 		 	78/317729	 	10/23/2003	 	2895818	 	10/19/2004	 	009: Batteries, namely, batteries for vehicles, motorcycles, tractors, wheel chairs, marine equipment, namely, boats; alkaline and electric batteries; and booster cables
								
	United States	 	DIEHARD	 		 	77/156285	 	04/14/2007	 	3355910	 	12/18/2007	 	009: batteries, namely, rechargeable batteries; battery charger stations
								
	United States	 	DIEHARD	 		 	77/840248	 	10/03/2009	 	3875643	 	11/16/2010	 	009: inverters, battery chargers, portable battery chargers, portable battery chargers with jump start cables; battery jump starters; portable power supplies
								
	United States	 	DIEHARD	 		 	85/428966	 	09/23/2011	 	4219293	 	10/02/2012	 	011: Flashlights
								
	United States	 	DIEHARD	 		 	85/432784	 	09/28/2011	 	4515044	 	04/15/2014	 	011: Light bulbs
								
	United States	 	DIEHARD	 		 	86/591015	 	04/08/2015	 		 		 	009: Electrical and electronic connectors, cables, chargers, and adapters for use with computers, digital format audio players, digital audio recorders, digital video recorders and players, telephones, computer peripheral devices,
and handheld mobile digital electronic devices capable of providing access to the Internet and for the sending, receiving, and storing of telephone calls, faxes, electronic mail, and other digital data; battery power packs; portable battery power
banks; cellphone cases
								
	United States	 	DIEHARD	 		 	86/822781	 	11/17/2015	 		 		 	012: Tires
								
	United States	 	DIEHARD (Stylized)	 	

	 	76/346448	 	12/08/2001	 	2628203	 	10/01/2002	 	025: Clothing, namely, hats and work boots
								
	United States	 	DIEHARD (Stylized)	 	

	 	76/346449	 	12/08/2001	 	2677217	 	01/21/2003	 	009: Batteries, namely batteries for motorcycles, tractors, wheel chairs, marine equipment, namely boats, and battery chargers
								
	United States	 	DIEHARD DUTY	 		 	78/494833	 	10/05/2004	 	3096741	 	05/23/2006	 	025: FOOTWEAR
								
	United States	 	DIEHARD EXPRESS	 		 	78/274510	 	07/15/2003	 	2939673	 	04/12/2005	 	037: Automotive repair and maintenance services
								
	United States	 	DIEHARD GOLD	 		 	78/298757	 	09/10/2003	 	2881737	 	09/07/2004	 	009: BATTERIES
								
	United States	 	DIEHARD PLATINUM	 		 	77/012884	 	10/04/2006	 	3412083	 	04/15/2008	 	009: Automotive batteries
								
	United States	 	DIEHARD PLATINUM	 		 	77/013360	 	10/05/2006	 	3828624	 	08/03/2010	 	009: Batteries
								
	United States	 	KENMORE	 		 	71/539906	 	11/02/1947	 	517739	 	11/22/1949	 	011: COOKING STOVES, WHICH OPERATE WITH GAS
								
	United States	 	KENMORE	 		 	73/158384	 	02/14/1978	 	1102052	 	09/12/1978	 	011: FREEZERS, REFRIGERATORS, AIR CONDITIONERS AND DEHUMIDIFIERS
								
	United States	 	KENMORE	 		 	73/414682	 	02/24/1983	 	1275031	 	04/24/1984	 	011: WATER HEATERS, WATER SOFTENERS
								
	United States	 	KENMORE	 		 	73/427663	 	05/27/1983	 	1282358	 	06/19/1984	 	011: Non-Coin Operated Refrigerated Beer Dispenser and Compact Refrigerators
								
	United States	 	KENMORE	 		 	73/793846	 	04/18/1989	 	1569518	 	12/05/1989	 	011: AIR COOLING APPARATUS, NAMELY EVAPORATIVE COOLERS
								
	United States	 	KENMORE	 		 	74/072622	 	06/26/1990	 	1641183	 	04/16/1991	 	011: microwave ovens
								
	United States	 	KENMORE	 		 	74/194190	 	08/14/1991	 	1695957	 	06/23/1992	 	011: humidifiers
								
	United States	 	KENMORE	 		 	76/105205	 	08/09/2000	 	2475811	 	08/07/2001	 	011: REPAIR AND REPLACEMENT PARTS FOR HOME APPLIANCES, NAMELY, ELECTRIC CLOTHES DRYERS, GAS CLOTHES DRYERS, DOMESTIC AND COMMERCIAL COOKING OVENS, MICROWAVE OVENS FOR COOKING, FREEZERS, REFRIGERATORS, GAS AND ELECTRIC STOVES, GAS
AND ELECTRIC RANGES, AND GAS AND ELECTRIC COOKTOPS

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	KENMORE	 		 	78/314699	 	10/16/2003	 	2913066	 	12/21/2004	 	 007: VACUUM CLEANERS AND STRUCTURAL PARTS THEREFOR;

009: Electric irons; flat irons; steam irons

								
	United States	 	KENMORE	 		 	78/314709	 	10/16/2003	 	2893535	 	10/12/2004	 	011: Repair and replacement parts for home appliances, namely, electric clothes dryers, gas clothes dryers, domestic and commercial cooking ovens, microwave ovens, freezers, refrigerators, gas and electric stoves, gas and electric
ranges, and gas and electric cooktops; humidifiers; microwave ovens; air cooling apparatus, namely, evaporative coolers; non-coin operated refrigerated beer dispenser and compact refrigerators; water heaters; water heating heat pumps; water
softeners; combination hot water heater and dispenser for use with a domestic sink; freezers; refrigerators; air conditioners and dehumidifiers; barbeque grills; range hoods; oven range hoods; gas and electric water heaters for domestic use;
household air cleaners; furnaces; water purification units; central air conditioners; replacement filters for water purification systems; icemakers; replacement air filters for use in oven ranges; barbeque grill covers; trash compactors
								
	United States	 	KENMORE	 		 	78/317721	 	10/23/2003	 	2941746	 	04/19/2005	 	007: Repair and replacement parts for dishwashers and washing machines for clothes; electric clothes washing machines; electric sewing machines; dishwashing machines; garbage disposals; and coin operated washing machines
								
	United States	 	KENMORE	 		 	85/255981	 	03/03/2011	 	4268827	 	01/01/2013	 	038: streaming of audio, visual and audiovisual material on the Internet
								
	United States	 	KENMORE	 		 	85/255996	 	03/03/2011	 	4268828	 	01/01/2013	 	 035: Entertainment services, namely, providing product demonstrations relating to home appliances, large and small kitchen appliances, grills
and smokers, cookware and bakeware, kitchen tools and utensils;
 041: entertainment services, namely, providing podcasts and video podcasts relating to home
appliances, large and small kitchen appliances, grills and smokers, cookware and bakeware, kitchen tools and utensils

								
	United States	 	KENMORE	 		 	85/746809	 	10/05/2012	 		 		 	009: Electronics and electronic products, namely, televisions and docking stations for electronic devices, namely, computer docking stations, camcorders, music systems, namely, personal stereos and radios incorporating
clocks
								
	United States	 	KENMORE	 		 	86/214128	 	03/07/2014	 		 		 	003: Dishwasher detergents and rinse agents for dishwashers
								
	United States	 	KENMORE	 		 	86/976240	 	03/07/2014	 	4766063	 	06/30/2015	 	003: Laundry detergents
								
	United States	 	KENMORE	 		 	86/223536	 	03/17/2014	 		 		 	009: Thermostats and smart plugs
								
	United States	 	KENMORE (STYLIZED
WITH ARC)	 	

	 	75/346404	 	08/26/1997	 	2227561	 	03/02/1999	 	 007: electric sewing machines; non-power sewing machines; dish washing machines; garbage disposals; electric washing machines for clothes;
electric clothes dryers; gas clothes dryers;
 009: vacuum cleaners and parts thereof; electric irons; flat irons; steam irons;

011: barbecue grills; electric ranges; range hoods; domestic cooking ovens; commercial cooking ovens; ceiling fans; freezers; refrigerators, air conditioners,
dehumidifiers, gas water heaters for domestic use; electric water heaters for domestic use; water softening units for domestic use; compact refrigerators; microwave ovens; humidifiers; household air cleaners; furnaces; central air conditioners;
water purification units

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	KENMORE (Stylized
 with Square and Waves
Design)
	 	

	 	77/503363	 	06/20/2008	 	3944713	 	04/12/2011	 	 007: Dishwashing machines; washing machines for clothes; electric clothes washing machines; electric sewing machines; non-power sewing
machines; coin operated clothes washing machines; and small kitchen appliances, namely, electric food blenders, electric food processors, electric mixers, electric can openers; repair and replacement parts for dishwashers and washing machines for
clothes, electric sewing machines, non-power sewing machines, vacuum cleaners and garbage disposals; vacuum cleaners and structural parts therefore; and trash compactors;

011: Clothes dryers, domestic and commercial cooking ovens, gas and electric stoves; gas and electric ranges; gas and electric cooktops; humidifiers; microwave
ovens; air cooling apparatus, namely, evaporative coolers; non-coin operated refrigerated beer dispenser and compact refrigerators; water heating heat pumps; solar powered water heaters; water softener units; combination hot water heater and
dispenser for use with a domestic sink; freezers; refrigerators; air conditioners and dehumidifiers; barbecue grills; range hoods; oven range hoods; ceiling fans; gas and electric water heaters for domestic use; household air cleaners; furnaces;
water purification units; central air conditioners; replacement filters for water purification systems; icemakers; replacement air filters for use in oven ranges; fitted barbecue grill covers; gas and electric grills; grill accessories, namely,
fitted grill covers; refrigeration equipment, namely, wine chillers, cookware, namely, electric tea kettles, griddles and food steamers; repair and replacement parts for home appliances, namely, electric clothes dryers, domestic and commercial
cooking ovens, microwave ovens, freezers, refrigerators, gas and electric stoves, gas and electric ranges, and gas and electric cooktops; small kitchen appliances, namely, bread baking machines, toasters and toaster ovens, electric coffee makers,
electric slow cookers, electric waffle makers and water coolers;
 021: Cookware, namely, pots, pans, roasting pans, double boilers and stock
pots

								
	United States	 	KENMORE (Stylized) (v3)	 	

	 	71/550618	 	02/27/1948	 	522973	 	03/28/1950	 	007: Electrical goods, namely, vacuum cleaners and parts, food mixers, and food blenders;008: Electrical goods, namely, irons;011: Electrical goods, namely, ranges, toasters, broilers and grills
								
	United States	 	KENMORE AC	 		 	86/822759	 	11/17/2015	 		 		 	009: Downloadable software in the nature of a mobile application for enabling users to adjust the settings of their air conditioning units

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	KENMORE CONNECT	 		 	85/977403	 	06/11/2010	 	4277352	 	01/15/2013	 	 007: Component feature sold as an integral part of clothes washing machines, namely, onboard circuitry, namely, computer hardware and
electronic transmitters which provide information and data to a customer service facility or network via telephone, Internet or other telecommunication means to enable the provision of diagnostic information and other information or recommendations
to appliance owners;
 011: Component feature sold as an integral part of clothes dryers, refrigerators, namely, onboard circuitry, namely, computer hardware
and electronic transmitters which provide information and data to a customer service facility or network via telephone, Internet or other telecommunication means to enable the provision of diagnostic information and other information or
recommendations to appliance owners;
 042: Diagnostic services in the field of household appliances, namely, providing diagnostic information and information
or recommendations regarding the operation, maintenance or repair of such appliances via telephone, Internet or other telecommunication means based on information and data received from customer-owned appliance units

								
	United States	 	KENMORE CONNECT
(Stylized and Design)	 	

	 	85/977750	 	10/01/2010	 	4449169	 	12/10/2013	 	 007: Component feature of clothes washing machines, namely, onboard circuitry sold as an integral component of the finished products which
provides information and data to a customer service facility or network via telephone, Internet or other telecommunication means to enable the provision of diagnostic information and other information or recommendations to appliance owners;

011: Component feature of clothes dryers and refrigerators, namely, onboard circuitry sold as an integral component of the finished products which provides
information and data to a customer service facility or network via telephone, Internet or other telecommunication means to enable the provision of diagnostic information and other information or recommendations to appliance owners

								
	United States	 	KENMORE CONNECT
and Design	 	

	 	85/980474	 	10/02/2010	 	4549162	 	06/10/2014	 	042: Diagnostic services in the field of household appliances, namely, providing diagnostic information and information or recommendations regarding the operation, maintenance or repair of such appliances via telephone, Internet or
other telecommunication means based on information and data received from customer-owned appliance units
								
	United States	 	KENMORE ELITE &
DESIGN	 	

	 	75/679754	 	04/13/1999	 	2414684	 	12/19/2000	 	 007: Home appliances, namely, dishwashers, clothes washing machines, and garbage disposals;

011: Home appliances, namely, domestic and commercial cooking ovens, microwave ovens for cooking, freezers, refrigerators, gas and electric stoves, gas and
electric ranges, and gas and electric cooktops

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	KENMORE ELITE &
DESIGN (HORIZONTAL)	 	

	 	77/503373	 	06/20/2008	 	3944714	 	04/12/2011	 	 007: Dishwashing machines; washing machines forclothes; electric clothes washing machines; electric sewing machines; non-power sewing
machines; coin operated clothes washing machines; and small kitchen appliances, namely, electric food blenders, electric food processors, electric mixers, electric can openers; repair and replacement parts for dishwashers and washing machines for
clothes, electric sewing machines, non-power sewing machines, vacuum cleaners and garbage disposals; vacuum cleaners and structural parts therefor; and trash compactors;

011: Clothes dryers, domestic and commercial cooking ovens, gas and electric stoves; gas and electric ranges; gas and electric cooktops; humidifiers; microwave
ovens; air cooling apparatus, namely, evaporative coolers; non-coin operated refrigerated beer dispenser and compact refrigerators; water heating heat pumps; solar powered water heaters; water softener units; combination hot water heater and
dispenser for use with a domestic sink; freezers; refrigerators; air conditioners and dehumidifiers; barbecue grills; range hoods; oven range hoods; ceiling fans; gas and electric water heaters for domestic use; household air cleaners; furnaces;
water purification units; central air conditioners; replacement filters for water purification systems; icemakers; replacement air filters for use in oven ranges; fitted barbecue grill covers; gas and electric grills; grill accessories, namely,
fitted grill covers; refrigeration equipment, namely, wine chillers, cookware, namely, electric tea kettles, griddles and food steamers; repair and replacement parts for home appliances, namely, electric clothes dryers, domestic and commercial
cooking ovens, microwave ovens, freezers, refrigerators, gas and electric stoves, gas and electric ranges, and gas and electric cooktops; small kitchen appliances, namely, bread baking machines, toasters and toaster ovens, electric coffee makers,
electric slow cookers, electric waffle makers and water coolers;
 021: Cookware, namely, pots, pans, roasting pans, double boilers and stock
pots

								
	United States	 	KENMORE LIVE STUDIO	 		 	85/255940	 	03/03/2011	 	4124231	 	04/10/2012	 	 035: Entertainment services, namely, providing product demonstrations relating to home appliances, laundry appliances, large and small kitchen
appliances, grills and smokers, cookware and bakeware, kitchen tools and utensils, floorcare products, sewing machines, air conditioners and purifiers, water heaters, and water softeners and filtration systems;

038: streaming of audio, visual and audiovisual material on the Internet;

041: entertainment services, namely, providing podcasts and video podcasts relating to home appliances, laundry appliances, large and small kitchen appliances,
grills and smokers, cookware and bakeware, kitchen tools and utensils, floorcare products, sewing machines, air conditioners and purifiers, water heaters, and water softeners and filtration systems

								
	United States	 	KENMORE PRO	 		 	77/149703	 	04/06/2007	 	3470307	 	07/22/2008	 	 007: Dishwashers, clothes washing machines, garbage disposals;

011: domestic cooking ovens, commercial cooking ovens, microwave ovens for cooking, freezers, refrigerators, gas stoves, electric stoves, gas ranges, electric
ranges, gas cooktops, electric cooktops

															
	 Country
	 	MarkName	 	 Image
	 	 Appl. No.
	 	 Appl. Date
	 	 Reg. No.
	 	 Reg. Date
	 	 Classes and Goods

	United States	 	KENMORE PRO &
DESIGN (HORIZONTAL)	 	

	 	77/503381	 	06/20/2008	 	4210288	 	09/18/2012	 	007: Dishwashing machines; repair and replacement parts for dishwashers; 011: Domestic and commercial cooking ovens, gas and electric stoves; gas and electric ranges; gas and electric cooktops; refrigerators; range hoods, oven range
hoods; repair and replacement parts for home appliances, namely, domestic and commercial cooking ovens, refrigerators, gas and electric stoves, gas and electric ranges, and gas and electric cooktops
								
	United States	 	KENMORE TRUSTED
PERFORMANCE	 		 	86/755369	 	09/14/2015	 		 		 	035: Retail department store services and online retail department store services
								
	United States	 	KENMOREMIX!	 		 	77/767388	 	06/25/2009	 	4091388	 	01/24/2012	 	007: Home appliances, namely, mixers
								
	United States	 	KENMOREPOP!	 		 	77/767392	 	06/25/2009	 	3923791	 	02/22/2011	 	011: Home appliances, namely, microwave ovens
								
	United States	 	LIFE DEMANDS DIEHARD	 		 	77/745828	 	05/28/2009	 	4115308	 	03/20/2012	 	035: Retail store services featuring batteries and automotive parts; distributorship services featuring batteries and automotive parts
								
	United States	 	LIFE DEMANDS
DIEHARD	 		 	77/982539	 	05/28/2009	 	4050077	 	11/01/2011	 	009: Batteries, automotive batteries, vehicle battery jump starters, mobile power inverters, battery charging devices, battery chargers
								
	United States	 	MY FIRST CRAFTSMAN	 		 	78/125361	 	05/02/2002	 	2757614	 	08/26/2003	 	028: TOYS, NAMELY, TOY HAND TOOLS, TOY POWER TOOLS, TOY TOOL STORAGE UNITS, TOY TRUCKS, TOY WORK BENCHES, TOY FLASHLIGHTS, MULTIPLE ACTIVITY TOYS, ELECTRONICALLY OPERATED TOY MOTOR VEHICLES AND TOY WAGONS
								
	United States	 	MY FIRST KENMORE	 		 	78/558874	 	02/03/2005	 	3160548	 	10/17/2006	 	028: Toy household appliances

 Exhibit 11 

Escrow Arrangements (including Powers of Attorney) 

[See Attached] 

 EXECUTION VERSION 

CUSTODIAN AND DOCUMENT CONTROL AGREEMENT 

THIS CUSTODIAN AND DOCUMENT CONTROL AGREEMENT (this “Agreement”), dated as of March [    ], 2016, is by
and among Sears Holdings Corporation, a Delaware corporation (the “Company”), the undersigned subsidiaries and affiliates of the Company (collectively, together with the Company, the “Sears Parties), the Pension Benefit
Guaranty Corporation (“PBGC”), and State Street Bank and Trust Company (“State Street”) in its capacity as Custodian (as defined in Section 1 below). 

WITNESSETH: 

WHEREAS, PBGC is a wholly owned United States government corporation and agency, established under Section 4002 of the Employee
Retirement Income Security Act of 1974, 29 U.S.C. §§ 1301 – 1461 (2012 & Supp. II 2014) (as amended from time to time, together with the regulations thereunder, “ERISA”), to administer the Plan termination
insurance program created under Title IV of ERISA; 
 WHEREAS, the Company is the plan sponsor (as such term is defined in ERISA
Section 3(16)(B)), of the Sears Holdings Pension Plan, as amended and restated effective January 1, 2014 (the “Plan”); 

WHEREAS, the Company is the ultimate corporate parent company of the other Sears Parties, and each of the other Sears Parties is a member of
the Parent’s “controlled group”, as that term is defined in ERISA Section 4001(a)(14); 
 WHEREAS, PBGC, the Company and
the other Sears Parties have entered into that certain Pension Plan Protection and Forbearance Agreement dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”), pursuant
to which the Sears Parties have offered to provide to, and to cause to be provided to, PBGC certain enhanced protections in exchange for PBGC’s agreement to forbear from initiating termination proceedings with respect to the Plan pursuant to
ERISA Section 4042 for the term and under the conditions provided in the PPPFA; 
 WHEREAS, pursuant to the PPPFA, as security for the
PBGC UBL Claims against the Company, the other Sears Parties and all other Subsidiaries of the Company, and all of their obligations to PBGC under the Transaction Documents, certain Sears Parties have agreed with PBGC to grant liens on and security
interests in the Designated Assets pursuant to the Collateral Documents, which liens and security interests shall attach and be perfected (i) with respect to the IP Assets, upon the occurrence of a Springing Lien Event and the satisfaction of
any IP Springing Lien Condition, and (ii) with respect to all Designated Assets other than the IP Assets, upon the occurrence of a Springing Lien Event; 

WHEREAS, in furtherance of the foregoing, (i) the relevant Sears Parties and PBGC are depositing such Collateral Documents with the
Custodian, and (ii) the Sears Parties are employing the Custodian as custodian of the Collateral Expense Deposit (as defined below) and as such depositing the Collateral Expense Deposit with the Custodian, all in accordance with the terms of
this Agreement; 
 WHEREAS, pursuant to the terms of the PPPFA, and subject to the terms thereof and hereof, the Sears Parties and PBGC have
agreed to enter into this Agreement and to deposit the Collateral Documents (and, in the case of the Sears Parties, the Collateral Expense Deposit) with the Custodian for the purposes set forth herein and in the PPPFA; 

 WHEREAS, Custodian shall act as custodian of certain assets of the Company pursuant to
this Agreement and shall hold such assets in an account (the “Account”) and is further prepared to act as custodian for the Collateral Documents and the Collateral Expense Deposit pursuant to the terms and conditions of this Agreement;

 WHEREAS, the Custodian has agreed to accept, hold and release to PBGC the Collateral Documents and the Collateral Expense Deposit on the
terms and subject to the conditions set forth in this Agreement and this Agreement shall satisfy any escrow requirements set forth in the PPPFA; 

WHEREAS, the Sears Parties, PBGC and the Custodian desire to more specifically set forth their rights and obligations with respect to the
Collateral Documents and the Collateral Expense Deposit deposited with the Custodian; 
 NOW, THEREFORE, in consideration of the mutual
covenants herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

1. Definitions. 

For the purposes of this Agreement, the following terms shall have the meanings specified with respect thereto below. Any plural term that is
used herein in the singular shall be taken to mean each entity or item of the defined class and any singular term that is used herein in the plural shall be taken to mean all of the entities or items of the defined class, collectively. The words
“include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” Unless the context requires otherwise, any definition of or reference to any agreement, instrument or
other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set
forth herein or in any other Transaction Document). 
 “Business Day” means any day when the New York Stock Exchange is
open for business. 
 “Collateral Documents” means, collectively, the IP Collateral Documents, the REMIC Certificate
Collateral Documents, the REMIC Real Property Collateral Documents and the Powers of Attorney. 
 “Collateral Expense
Deposit” shall have the meaning assigned to such term in Section 4(b) of this Agreement. 

“Custodian” shall mean State Street, in its capacity as custodian for PBGC and the Sears Parties pursuant to this Agreement,
or any successor custodian that succeeds to all of the rights, duties and obligations of the Custodian and becomes bound as Custodian to the terms of this Agreement, in accordance with Section 6(g) of this Agreement. 

“Designated Assets” shall have the meaning assigned to such term in the PPPFA. 

“IP Assets” shall have the meaning assigned to such term in the PPPFA. 

“IP Collateral Documents” shall mean, collectively, (i) the IP Collateral Security Agreement, (ii) the Trademark
Security Agreement, and (iii) the IP Collateral Financing Statement. 

  
 - 2 - 

 “IP Collateral Financing Statement” shall mean that certain UCC-1 financing
statement naming KCD IP, LLC, a Delaware limited liability company, as debtor and PBGC as secured party, a copy of which is attached hereto as Exhibit A-3. 

“IP Collateral Security Agreement” shall mean the Security Agreement executed by KCD IP, LLC and PBGC, a copy of which is
attached as Exhibit A-1 hereto. 
 “IP Springing Lien Conditions” shall have the meaning assigned to such term in
the PPPFA. 
 “PBGC UBL Claims” shall have the meaning assigned to such term in the PPPFA. 

“Person” shall mean and include an individual, a partnership, a joint venture, a corporation, a trust (including any
statutory trust), a limited liability company, an unincorporated organization and a government or any department or agency thereof. 

“Powers of Attorney” shall mean, those certain powers of attorney executed and delivered by the Sears Parties pursuant to
Section 9.02 of the PPPFA. Copies of the Powers of Attorney are attached hereto as Exhibit D. 
 “REMIC
Certificate Collateral Documents” shall mean, collectively, (i) the REMIC Certificate Pledge Agreement, (ii) the original REMIC Certificates, copies of which are attached hereto as Exhibit B-3, (iii) the REMIC
Certificate Transfer Powers, and (iv) the REMIC Certificate Financing Statement. 
 “REMIC Certificates” shall have
the meaning assigned to such term in the PPPFA. 
 “REMIC Certificate Financing Statement” shall mean that certain UCC-1
financing statement naming SRC Depositor Corporation as debtor and PBGC as secured party, a copy of which is attached hereto as Exhibit B-4. 

“REMIC Certificate Pledge Agreement” shall mean the Pledge Agreement executed by SRC Depositor Corporation, a Delaware
corporation, and PBGC, a copy of which is attached hereto as Exhibit B-1. 
 “REMIC Certificate Transfer Powers”
shall mean the transfer powers executed in blank by SRC Depositor Corporation with respect to the REMIC Certificates, copies of which transfer powers are attached hereto as Exhibit B-2. 

“REMIC Properties” shall have the meaning assigned to such term in the PPPFA. 

“REMIC Real Property Collateral Documents” shall mean, collectively, (i) the REMIC Real Property Collateral Mortgages,
and (ii) the REMIC Real Property Collateral Financing Statements. 
 “REMIC Real Property Collateral Financing
Statements” shall mean, collectively, those certain UCC-1 financing statements naming each of the respective owners of the REMIC Properties as debtor and PBGC as secured party, copies of which are attached hereto as Exhibit C-1. 

“REMIC Real Property Collateral Mortgages” shall mean, collectively, those certain (i) Mortgage, Assignment of Leases
and Rents, Security Agreement and Fixture Filings executed by the respective owners of the REMIC Properties in favor of PBGC, (ii) Deed of Trust, Assignment of Leases 

  
 - 3 - 

 
and Rents, Security Agreement and Fixture Filings executed by the respective owners of the REMIC Properties in favor of PBGC, and (iii) Deed to Secure Debt, Assignment of Leases and Rents,
Security Agreement and Fixture Filings executed by the respective owners of the REMIC Properties in favor of PBGC, a complete list of all of the foregoing (whether such instrument encumber the respective owner’s fee or leasehold interest) being
set forth on Exhibit C-2 attached hereto. 
 “Transaction Documents” shall have the meaning assigned to such term in
the PPPFA. 
 “Springing Lien Event” shall have the meaning assigned to such term in the PPPFA. 

“Subsidiary” shall have the meaning assigned to such term in the PPPFA. 

“Trademark Security Agreement” shall mean the Trademark Security Agreement executed by KCD IP, LLC, a Delaware limited
liability company, and PBGC, a copy of which is attached hereto as Exhibit A-2. 
 2. Appointment of State Street as
Custodian. The Sears Parties hereby employ the Custodian, its agents and subcustodians as the Custodian of certain assets of the Sears Parties, delivered to the Custodian, in the Account pursuant to the terms herein stated. Further, each of
PBGC and the Sears Parties hereby appoint the Custodian and the Custodian hereby accepts such appointment and agrees to act, as Custodian for PBGC and the Sears Parties to hold in custody and take the actions with respect to the Collateral Documents
described herein, all in accordance with the terms and conditions set forth in this Agreement. The Account shall not hold any foreign currency or foreign securities. In addition, no foreign exchange transactions shall be allowed in the Account. 

3. Custody Provisions. 

(a) Holding Securities and Income Crediting. The Custodian shall hold for the Account, all noncash property including all securities,
other than securities which are held for the Account by the Custodian in the Federal Reserve book entry system, in a clearing agency which acts as a securities depository or in another book entry system for the central handling of securities
collectively referred to herein as “Securities System”. With respect to the securities or other assets held hereunder the Custodian shall credit income to the Account as such income is received or in accordance with Custodian’s then
current payable date income schedule. Any credit to the Account in advance of receipt may be reversed when Custodian determines that payment will not occur in due course and the Account may be charged at Custodian’s applicable rate for time
credited. Income on securities loaned other than from Custodian’s securities lending program shall be credited as received. 
 (b)
Delivery of Securities and Payment of Moneys. The Custodian shall pay out or release and deliver cash or securities of the Account held by the Custodian, its agents and subcustodians or in a Securities System account of the Custodian only
upon receipt of Proper Instructions by the PBGC directing the delivery or payment to a named Person or account (which may be standing instructions when deemed appropriate by the parties). The PBGC shall not deliver any such Proper Instructions
except as set forth in Section 5 of this Agreement. 
 (c) Bank Accounts. The Custodian may open and maintain a bank account or
accounts in the name of the Custodian or otherwise, in such banks or trust companies as it may in its discretion deem advisable, subject only to draft or order by the Custodian, acting pursuant to the terms of this Agreement to hold cash received by
or from or for the account of the Sears Parties. 

  
 - 4 - 

 (d) Appointment of Agents and Subcustodians. The Custodian may at its discretion appoint
and remove agents or subcustodians to carry out such of the provisions of this Agreement as the Custodian may from time to time direct; provided, however, that such appointment shall not relieve the Custodian of its responsibilities or liabilities
under this Agreement. 
 (e) Proper Instructions. The term “Proper Instructions” shall mean instructions received by the
Custodian from the Company, the PBGC, or any person duly authorized by any of them. Such instructions may be in writing signed by an authorized person or may be in a tested communication effected between electro mechanical or electronic devices or
by such other means as may be agreed to from time to time by the Custodian and the party giving such instructions (including, without limitation, oral instructions). Each of the Company and the PBGC, respectively, shall cause its duly authorized
officer, to certify to the Custodian in writing the names and specimen signatures of persons authorized to give Proper Instructions. The Custodian shall be entitled to rely upon the identity and authority of such persons until it receives written
notice from the Company or the PBGC, as the case may be, to the contrary. 
 (f) Evidence of Authority. The Custodian shall be
protected in acting upon any instruction, notice, request, consent, certificate or other instrument or paper reasonably believed by it to be genuine and to have been properly executed or otherwise given by or on behalf of the Company or PBGC. The
Custodian may receive and accept a certificate from the Company or PBGC as conclusive evidence (i) of the authority of any person to act in accordance with such certificate or (ii) of any determination or of any action by the Sears Parties
or PBGC, as the case may be, as described in such certificate, and such certificate may be considered in full force and effect until receipt by the Custodian of written notice to the contrary. 

(g) Advances. If the Custodian advances cash or securities for any purpose, including in the event that the Custodian shall incur or be
assessed taxes, interest, charges, expenses, assessments, or other liabilities in connection with the performance of this Agreement, except such as may arise from its gross negligence, bad faith, fraud, intentional misconduct or breach of this
Agreement, any property at any time held for the account of the Sears Parties or in the Account shall be security therefor and, should the Company fail to pay or reimburse the Custodian promptly, the Custodian shall be entitled to utilize available
cash and to dispose of the assets of the Sears Parties or the Account to the extent necessary to effect its right of setoff and make itself whole. 

(h) Tax Law. The Custodian shall have no responsibility or liability for any obligations now or hereafter imposed on the Sears Parties,
the PBGC, the Account, or the Custodian as custodian of the Account by the tax law of the United States of America or any state or political subdivision thereof. 

(i) Reporting. The Custodian shall render to the Company and the PGBC a monthly report of all monies received or paid on behalf of the
Account and an itemized statement of the Collateral Documents accountable under this Agreement as of the end of each month. Custodian has no duty to verify reports it incorporates regarding securities or cash held outside its custody submitted by
third parties, including but not limited to brokers, other banks or trust companies. 
 4. Deposit of Collateral Documents and
Collateral Expense Deposit into Custody. 
 (a) Pursuant to Section 9.02 of the PPPFA, on the date hereof, PBGC and the Sears
Parties will deliver, or cause to be delivered, to the Custodian (A) fully-executed, undated copies (or originals, in the case of any items of which originals are necessary for purposes of perfection) of the IP Collateral Security Agreement,
the Trademark Security Agreement, the REMIC Certificate Pledge 

  
 - 5 - 

 
Agreement and the REMIC Real Property Collateral Documents, (B) the original REMIC Certificates listed on Schedule I to the REMIC Certificate Pledge Agreement, together with the REMIC
Certificate Transfer Powers with respect to such REMIC Certificates, (C) the IP Collateral Financing Statement, (D) the REMIC Certificate Financing Statement, and (E) fully-executed, undated copies of the Powers of Attorney. If at any
time from and after the date of this Agreement, any Sears Party acquires any additional REMIC Certificates, such Sears Party shall promptly deliver, or cause to be delivered, to the Custodian such original REMIC Certificates, together with the REMIC
Certificate Transfer Powers with respect to such REMIC Certificates, all in accordance with the terms of the REMIC Certificate Pledge Agreement. Promptly upon receipt of such Collateral Documents, the Custodian shall deliver to PBGC and the Company
a written confirmation of receipt thereof. The Custodian agrees that the Custodian (Y) shall hold all such Collateral Documents in custody subject to the terms and conditions of this Agreement and (Z) shall not transfer, distribute,
release from custody or otherwise take any action with respect to any such Collateral Documents other than in accordance with the express terms and conditions of this Agreement. The Sears Parties, PBGC and Custodian agree that Collateral Documents
will be held for PBGC in custody by Custodian under the terms and conditions of this Agreement, that the Custodian will take such actions with respect to the Collateral Documents (including without limitation the delivery thereof) as PBGC shall
direct in a Release Notice (hereinafter defined) from PBGC and that in no event shall any consent of the Company or any other Sears Party be required for the taking of any such action by Custodian 

(b) Pursuant to Section 9.02 of the PPPFA, on the date hereof, the Company shall deliver, or cause to be delivered, to the Custodian the
sum of $250,000 (the “Collateral Expense Deposit”) to cover (A) the costs and expenses of PBGC to be incurred in connection with the execution, perfection and recordation of the Collateral Documents and (B) all obligations
owed to the Custodian by the Company or any other Sears Party pursuant to the terms of this Agreement. Promptly upon receipt of the Collateral Expense Deposit, the Custodian shall deliver to PBGC and the Company a written confirmation of receipt
thereof. The Custodian agrees that the Custodian (Y) shall hold the Collateral Expense Deposit in a Special Custody Account under the name of “PBGC as Pledgee of Sears Collateral” subject to the terms and conditions of this Agreement
and (Z) shall not transfer, distribute, release from custody or otherwise take any action with respect to the Collateral Expense Deposit, other than in accordance with the express terms and conditions of this Agreement. The Company grants to
Custodian the authority to segregate the Collateral Expense Deposit in such Special Custody Account. The Company, PBGC, and Custodian agree that Collateral Expense Deposit will be held for PBGC in the Special Custody Account by Custodian under the
terms and conditions of this Agreement, that the Custodian will take such actions with respect to the Collateral Expense Deposit (including without limitation the delivery thereof) as PBGC shall direct in an Release Notice (hereinafter defined) from
PBGC and that in no event shall any consent of the Company be required for the taking of any such action by Custodian. 
 5. Release
of Collateral Documents and Collateral Expense Deposit from Custody. 
 (a) Release of REMIC Certificate Collateral Documents from
Custody. Upon receipt by the Custodian of a written notice executed by an authorized signatory of PBGC (a “Release Notice”) with respect to the REMIC Certificate Collateral Documents instructing the Custodian to release the
REMIC Certificate Collateral Documents to PBGC, or any designee of PBGC expressly designated in writing by PBGC in such Release Notice (such designee, a “PBGC Designee”), the Custodian shall immediately deliver to PBGC (or such PBGC
Designee) all REMIC Certificate Collateral Documents in accordance with the instructions set forth in such Release Notice. Such Release Notice shall be deemed a Proper Instruction under this Agreement. PBGC hereby covenants and agrees with the Sears
Parties that no Release Notice will be delivered by PBGC with respect to the REMIC Certificate Collateral Documents unless and until a Springing Lien Event has occurred. Upon the occurrence of a Springing Lien Event, PBGC (or such PBGC Designee)
shall have the sole right to instruct or direct the Custodian 

  
 - 6 - 

 
with respect to the REMIC Certificate Collateral Documents and to take any action (other than actions which PBGC expressly instructs or directs the Custodian to take in accordance with the terms
of this Agreement) with respect any REMIC Certificate Collateral Document. Without limitation of the foregoing sentence or of any other right of PBGC under this Agreement, the PPPFA or any other Transaction Document, upon the occurrence of a
Springing Lien Event, PBGC (or such PBGC Designee) shall have the right (i) to date the REMIC Certificate Pledge Agreement as of the date of such Springing Lien Event (or any date occurring thereafter selected by PBGC in its sole discretion),
(ii) to possess the REMIC Certificates, together with the REMIC Certificate Transfer Powers, in accordance with the terms of the REMIC Certificate Pledge Agreement, and (iii) to file with the Office of the Secretary of State of the State
of Delaware, the REMIC Certificate Financing Statement, as well as any other financing statement or other document permitted to be filed in accordance with the terms of the REMIC Certificate Pledge Agreement. 

(b) Release of REMIC Real Property Collateral Documents from Custody. Upon receipt by the Custodian of a Release Notice with respect to
the REMIC Real Property Collateral Documents instructing the Custodian to release the REMIC Real Property Collateral Documents to PBGC or any PBGC Designee, the Custodian shall immediately deliver to PBGC (or such PBGC Designee) all REMIC Real
Property Collateral Documents in accordance with the instructions set forth in such Release Notice. Such Release Notice shall be deemed a Proper Instruction under this Agreement. PBGC hereby covenants and agrees with the Sears Parties that no
Release Notice will be delivered by PBGC with respect to the REMIC Real Property Collateral Documents unless and until a Springing Lien Event has occurred. Upon the occurrence of a Springing Lien Event, PBGC (or such PBCG Designee) shall have the
sole right to instruct or direct the Custodian with respect to the REMIC Real Property Collateral Documents and to take any action (other than actions which PBGC expressly instructs or directs the Custodian to take in accordance with the terms of
this Agreement) with respect any REMIC Real Property Collateral Document. Without limitation of the foregoing sentence or of any other right of PBGC under this Agreement, the PPPFA or any other Transaction Document, upon the occurrence of a
Springing Lien Event, PBGC (or such PBGC Designee) shall have the right (i) to date the REMIC Real Property Collateral Mortgages as of the date of such Springing Lien Event (or any date occurring thereafter selected by PBGC in its sole
discretion), (ii) to update any exhibits or other attachments to the REMIC Real Property Collateral Mortgages, as necessary to conform such exhibits or attachments to the REMIC Properties that are intended to be encumbered by the REMIC Real
Property Collateral Mortgages as provided by the terms of any Transaction Document, (iii) to record with the appropriate recording office each of the REMIC Real Property Collateral Mortgages, (iv) to update any exhibits or other
attachments to the REMIC Real Property Collateral Financing Statements, as necessary to conform such exhibits or attachments to the REMIC Properties that are intended to be subject to the REMIC Real Property Collateral Financing Statements as
provided by the terms of any Transaction Document, and (v) to file with the Office of the Secretary of State of the State of Delaware, the REMIC Real Property Collateral Financing Statements. 

(c) Release of IP Collateral Documents from Custody. Upon receipt by the Custodian of a Release Notice with respect to the IP Collateral
Documents instructing the Custodian to release the IP Collateral Documents to PBGC or any PBGC Designee, the Custodian shall immediately deliver to PBGC (or such PBGC Designee) all IP Collateral Property Collateral Documents in accordance with the
instructions set forth in such Release Notice. Such Release Notice shall be deemed a Proper Instruction under this Agreement. PBGC hereby covenants and agrees with the Sears Parties that no Release Notice will be delivered by PBGC with respect to
the IP Collateral Documents unless and until (A) a Springing Lien Event has occurred and (B) any one of the IP Springing Lien Conditions has been satisfied. Upon the occurrence of a Springing Lien Event and the satisfaction of any IP
Springing Lien Condition, PBGC (or such PBCG Designee) shall have the sole right to instruct or direct the Custodian with respect to the IP Collateral Documents and to take any action (other than actions which PBGC

  
 - 7 - 

 
expressly instructs or directs the Custodian to take in accordance with the terms of this Agreement) with respect any IP Collateral Document. Without limitation of the foregoing sentence or of
any other right of PBGC under this Agreement, the PPPFA or any other Transaction Document, upon the occurrence of a Springing Lien Event and the satisfaction of any IP Springing Lien Condition, PBGC (or such PBGC Designee) shall have the right
(W) to date the IP Collateral Security Agreement and the Trademark Security Agreement as of the date on which (1) such Springing Lien Event occurred and (2) such IP Springing Lien Condition was satisfied (or any date occurring
thereafter selected by PBGC in its sole discretion), (X) to update any schedules or other attachments to the IP Collateral Security Agreement or the Trademark Security Agreement with any information provided by any Sears Party in accordance
with the terms of any Transaction Document, (Y) to file with the United States Patent and Trademark Office the Trademark Security Agreement, together with any cover sheets or other documents necessary or desirable in connection with such
filing, and (Z) to file with the Office of the Secretary of State of the State of Delaware, the IP Collateral Financing Statement, as well as any other financing statement or other document permitted to be filed in accordance with the terms of
the IP Collateral Security Agreement. 
 (d) Release of Collateral Expense Deposit from Custody. Upon receipt by the Custodian of a
Release Notice with respect to all or any portion of the Collateral Expense Deposit, held in the Special Custody Account, instructing the Custodian to release all or such portion of the Collateral Expense Deposit to PBGC or any PBGC Designee, the
Custodian shall immediately disburse such funds in accordance with the instructions set forth in such Release Notice. Such Release Notice shall be deemed a Proper Instruction under this Agreement. PBGC hereby covenants and agrees with the Sears
Parties that no Release Notice will be delivered by PBGC with respect to the Collateral Expense Deposit (i) with respect to amounts payable to the Custodian pursuant to the terms of this Agreement, unless and until such amounts have become due
and payable in accordance with the terms of this Agreement and (ii) with respect to all other permitted uses of the Collateral Expense Deposit, unless and until a Springing Lien Event has occurred. 

(e) Release Upon Termination of PPPFA. Upon receipt by the Custodian of a written notice executed by an authorized signatory of PBGC
stating that the PPPFA has terminated (a “Termination Notice”), the Custodian shall immediately deliver to the Company all Collateral Documents in its possession and disburse to the Company any remaining portion of the Collateral
Expense Deposit from the Special Custody Account, in each case in accordance with the instructions set forth in such Termination Notice. Such Termination Notice shall be deemed a Proper Instruction under this Agreement. PBGC hereby covenants and
agrees with the Sears Parties that it shall deliver a Termination Notice to the Custodian promptly upon the termination of the PPPFA. 
 (f)
No Right of Sears Parties to Deliver Release or Termination Notice. Notwithstanding any provision to the contrary set forth in this Agreement, the PPPFA or any other Transaction Document, no Sears Party has any right to deliver to the
Custodian a Release Notice, a Termination Notice or any other instruction or direction (whether in writing or otherwise) with respect to any Collateral Document or all or any portion of the Collateral Expense Deposit and any such notice, instruction
or direction shall be void and of no force or effect. 
 (g) Reliance on PBGC Determination. In performing its duties under this
Agreement, the Custodian shall rely on the PBGC’s determination that a Springing Lien Event has occurred (and/or that any one of the IP Springing Lien Conditions has been satisfied) and shall act on a Release Notice without a duty of review or
inquiry. For the purposes of this Agreement, the PBGC’s determination as to whether a Springing Lien Event has occurred and/or that any one of the IP Springing Lien Conditions has been satisfied shall be binding and conclusive on the Custodian;
provided, however, 

  
 - 8 - 

 
that such determination shall not be binding on the Company or any of its subsidiaries or affiliates and all such Persons reserve all rights with respect to any such determination. 

6. Conditions. The Custodian agrees to hold the Collateral Documents and to perform its obligations in accordance with the terms
and provisions of this Agreement. Each of PBGC, the Sears Parties and the Custodian agrees that the Custodian shall not assume any responsibility for the failure of either of PBGC or any Sears Party to perform in accordance with this Agreement, the
PPPFA or any other Transaction Document. The acceptance by the Custodian of its responsibilities hereunder is subject to the following terms and conditions which the parties hereto agree shall govern and control with respect to the Custodian’s
rights, duties and liabilities hereunder: 
 (a) Duties. The Custodian shall diligently carry out the functions and assume the duties
imposed on the Custodian by the arrangements set forth in this Agreement. 
 (b) Care of Collateral Documents and Collateral Expense
Deposit in Custodian’s Possession. The Custodian shall exercise reasonable care to assure the safe custody of the Collateral Documents and the Collateral Expense Deposit while held hereunder. Beyond such duty, the Custodian shall have no
duty or liability to protect or preserve rights pertaining to the Collateral Documents or the Collateral Expense Deposit, and shall be relieved of all responsibility for the Collateral Documents and the Collateral Expense Deposit once the original
Collateral Documents and the entire Collateral Expense Deposit have been released to PBGC or the Company in accordance with Section 5 of this Agreement. 

(c) Documents. Subject to compliance with the requirements of this Agreement, the Custodian shall be protected in acting or not acting,
as the case may be, upon any written notice, request, waiver, consent, receipt or other paper or document furnished to it, not only as to its due execution and validity and the effectiveness of its provisions, but also as to the truth and accuracy
of any information therein contained, which the Custodian in good faith believes to be genuine and what it purports to be. Should it be necessary for the Custodian to act or not act, as the case may be, upon any instructions, directions, documents
or instruments issued or signed by or on behalf of any Person acting on behalf of PBGC, it shall not be necessary for the Custodian to inquire into such Person’s authority. The Custodian is also relieved from the necessity of satisfying itself
as to the authority of the Persons executing this Agreement, if any, in a representative capacity on behalf of any of the parties; provided that, with respect to the Company and PBGC, each such Person’s signature is set forth as a
specimen signature of the duly authorized representative of the Company and the duly authorized representative of PBGC, as applicable, as Exhibit E attached hereto. The names and signatures of the Persons shown on such exhibit may be
updated by written notice to the Custodian provided by the applicable party or its successor or assign. 
 (d) Liability. The
Custodian shall not be liable for anything which it may do or refrain from doing in connection herewith, except for its own gross negligence, bad faith, fraud, intentional misconduct or breach of this Agreement. 

(e) Legal Counsel. The Custodian may consult with, and obtain advice from, legal counsel in the event of any question as to any of the
provisions hereof or its duties hereunder, and it shall incur no liability and shall be fully protected in acting or not acting in good faith in accordance with the opinion and instructions of such counsel so long as such action is undertaken
without gross negligence, bad faith, fraud, intentional misconduct or breach of this Agreement. In the event that the Custodian shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from any party
hereto which, in its opinion, conflict with any of the provisions of this Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely all property held in custody until it shall be directed
otherwise in writing by all of the parties hereto or by a final order or judgment of a court of competent jurisdiction. 

  
 - 9 - 

 (f) Limitation of Duties. The Custodian shall have no duties except those which are
expressly set forth herein and no such duties shall be implied. The Custodian shall have no liability under and no duty to inquire as to the provisions of any agreement other than this Agreement and it shall not be bound by any other agreement of
the parties hereto (whether or not it has any knowledge thereof). 
 (g) Resignation or Termination of Custodian. The Custodian shall
have the right to resign at any time by giving no less than thirty (30) days’ prior written notice of such resignation to PBGC and the Company, and PBGC and the Company shall have the right to terminate the services of the Custodian
hereunder at any time by giving joint written notice of such termination to the Custodian, in each case specifying the effective date of such resignation or termination. Within thirty (30) days after receiving or delivering the aforesaid
notice, as the case may be, PBGC and the Company agree to jointly appoint a comparable institution as successor custodian to which the Custodian shall deliver, on the effective date of the resignation, the original Collateral Documents and any and
all related instruments or documents then held hereunder, together with the then remaining balance of the Collateral Expense Deposit, pursuant to a joint written direction from PBGC and the Company. Upon receipt of the original Collateral Documents
and the then remaining balance of the Collateral Expense Deposit, the successor custodian shall succeed to all of the rights, duties, and obligations of the Custodian and be bound as Custodian by all of the provisions of this Agreement. If a
successor custodian has not been appointed and accepted such appointment by the end of such thirty (30)-day period, the Custodian may apply to a court of competent jurisdiction for the appointment of a successor custodian, and any such resulting
appointment shall be binding upon all of the parties. Except as otherwise agreed to in writing by PBGC and the Company, after the effective date of either written notice pursuant to this Section 6(g), the Custodian shall continue to be
bound by the terms of this Agreement and shall have all of the duties of the Custodian under the terms of this Agreement until such time as a successor custodian shall have succeeded to all of the rights, duties and obligations of the Custodian and
become bound as Custodian in accordance with the terms of this Section 6(g). 
 (h) Discharge of Custodian; Termination of
Agreement. Upon delivery of all of the original Collateral Documents and disbursement of the entire then remaining balance of the Collateral Expense Deposit in accordance with the terms of Section 5 above or to a successor custodian
in accordance with the terms of Section 6(g), State Street shall thereafter be discharged from any further liability or obligations as Custodian hereunder. The Custodian is hereby authorized, in any and all events, to comply with and
obey any and all final judgments, orders and decrees of any court of competent jurisdiction which may be entered, and, if it shall so comply or obey, it shall not be liable to any other Person by reason of such compliance or obedience. This
Agreement and all obligations of the Custodian (and any successor custodian) shall terminate upon the release from custody and delivery of all original Collateral Documents and the release from custody and disbursement of the then remaining balance
of the Collateral Expense Deposit, in each case, in accordance with Section 5. Upon such termination, this Agreement shall have no further force or effect, except that the provisions of this Section 6 and Sections 7 and 9
through 22 shall survive such termination. 
 7. Indemnification. Each of the Sears Parties hereby agrees on a joint and
several basis to indemnify the Custodian for and to hold it harmless against any loss, liability or reasonable expense (including reasonable attorneys’ fees and expenses) incurred without gross negligence, bad faith, fraud, intentional
misconduct or breach of this Agreement on the part of the Custodian arising out of or in connection with its performance under this Agreement. In addition, the Custodian shall be fully protected in acting upon any Release Notice from the PBGC which
it reasonably believes to be genuine and authorized. The Custodian shall be without liability to the Sears Parties or the PBGC for any loss resulting from or caused by: (i) events or circumstances beyond its reasonable control including, but
not limited to nationalization, expropriation, currency restrictions, act of war or terrorism, riot, revolution, acts of God or other similar events or acts; (ii) errors by the PBGC in its instructions to the Custodian or

  
 - 10 - 

 
(iii) acts or omissions by a Securities System. Notwithstanding any express provision to the contrary herein, Custodian shall not be liable for any indirect, consequential, incidental, special or
exemplary damages, even if Custodian has been apprised of the likelihood of such damages occurring. If the Custodian has issued to the Sears Parties or the PBGC, security codes or passwords in order that the Custodian may verify that certain
transmissions of information, including Proper Instructions, have been originated by the Sears Parties or the PBGC, as the case may be, the Custodian shall be kept indemnified by the Sears Parties and be without liability to the Sears Parties or the
PBGC for any action taken or omitted by it in reliance upon receipt by the Custodian of transmissions of information with the proper security code or password, including instructions purporting to be Proper Instructions, which the Custodian
reasonably believes to be from the Company or the PBGC. 
 8. Costs. The Custodian shall be entitled to be paid a fee for its
services pursuant to the Fee Schedule attached hereto as Exhibit F, and to be reimbursed for its reasonable and documented out-of-pocket costs and expenses incurred in connection with holding the Collateral Documents and the Collateral
Expense Deposit hereunder. The Sears Parties shall be jointly and severally liable for all fees, costs and expenses payable to the Custodian hereunder and PBGC shall not be liable or have any responsibility for the payment of any such fees, costs or
expenses. 
 9. Notices. Unless otherwise provided herein, any notice, approval or disapproval, request, instruction, other
document or communication to be given hereunder by any party to the other parties must be in writing and will be deemed given (a) if by hand delivery, when delivered; (b) if mailed via the official governmental mail system, five
(5) Business Days after mailing, provided said notice is sent first class, postage pre-paid, via certified or registered mail, with a return receipt requested; (c) if mailed by an internationally recognized overnight express mail service
such as Federal Express, UPS, or DHL Worldwide, one (1) Business Day after deposit therewith prepaid or (d) if by facsimile, when delivered (with confirmation retained). All notices will be addressed to the parties at the respective
addresses as follows: 
  

					
			
		 	If to PBGC:	  	 Pension Benefit Guaranty Corporation
 Director,
Corporate Financing and Restructuring Department
 1200 K Street, N.W., Suite 270

Washington, DC 20005-4026
 Fax: (202) 842-2643

			
		 	 With a copy (which shall
 not constitute notice)
to:
	  	 Pension Benefit Guaranty Corporation
 Chief
Counsel, Office of the Chief Counsel
 1200 K Street, N.W., Suite 300

Washington, DC 20005-4026
 Fax: (202) 326-4112

			
		 	If to any of the Sears Parties:	  	 c/o Sears Holdings Corporation
 3333 Beverly
Road
 Hoffman Estates, IL
 Attention: General Counsel

Facsimile: (847) 286-2471

  
 - 11 - 

					
			
		 	 With a copy (which shall
 not constitute notice)
to:
	  	 Wachtell, Lipton, Rosen & Katz
 51 West 52nd
Street
 New York, NY 10019
 Attention: Scott K. Charles

Facsimile: (212) 403-2202

			
		 	To the Custodian:	  	 State Street Bank and Trust Company
 1200 Crown
Colony Drive
 Quincy, MA 02169
 Attn: PBGC Relationship
Manager

 or to such other representative or at such other address of a party as such party hereto may furnish to the other parties in
writing. 
 10. Entire Agreement; Amendments. This Agreement, together with the PPPFA and the other Transaction Documents,
contains the entire understanding of the parties hereto with respect to the subject matter hereof and supersedes any prior understandings or agreements by or among the parties hereto, whether written or oral, which may have related to the subject
matter hereof in any way. This Agreement may be amended, or any provision of this Agreement may be waived, so long as such amendment or waiver is set forth in a writing executed by each of the parties or the waiver is set forth in a writing executed
by the waiving party. No course of dealing between or among any parties hereto will modify, amend or discharge any part of this Agreement or any rights or obligations hereunder of any party hereto. 

11. Successors and Assigns. This Agreement may not be assigned by any party hereto. 

12. No Other Third-Party Beneficiaries. Nothing herein expressed or implied is intended or will be construed to confer upon or
to give any Person other than the Custodian, PBGC and the Sears Parties any rights or remedies under or by reason of this Agreement. 
 13.
Interpretation. The headings in this Agreement are inserted for convenience of reference only and shall not be a part of or control or affect the meaning hereof. 

14. No Waiver. No failure or delay by a party hereto in exercising any right, power or privilege hereunder will operate as a
waiver thereof, and no single or partial exercise thereof will preclude any right of further exercise or the exercise of any other right, power or privilege. 

15. Severability. The parties hereto agree that (a) the provisions of this Agreement shall be severable in the event that
for any reason whatsoever any provisions hereof are invalid, void or otherwise unenforceable, (b) such invalid, void or otherwise unenforceable provisions shall be automatically replaced by other provisions which are as similar as possible in
terms to such invalid, void or otherwise unenforceable provisions, but are valid and enforceable and (c) the remaining provisions shall remain enforceable to the fullest extent permitted by law. 

16. Releases on Non-Business Days. In the event that a release of Collateral Documents or all or any portion of the Collateral
Expense Deposit is required to be made on a date that is not a Business Day, such release shall be made on the next succeeding Business Day with the same force and effect as if made when required. 

  
 - 12 - 

 17. Regulation GG. The Sears Parties and the PBGC hereby represent and warrant that
they do not engage in an “internet gambling business,” as such term is defined in Section 233.2(r) of Federal Reserve Regulation GG (12 CFR 233.1-233.7) (“Regulation GG”). The Sears Parties and the PBGC hereby
covenant and agree that they shall not engage in an internet gambling business. In accordance with Regulation GG, the Sears Parties and the PBGC are hereby notified that “restricted transactions,” as such term is defined in
Section 233.2(y) of Regulation GG, are prohibited in any dealings with the Custodian pursuant to this Agreement or otherwise between or among any party hereto. 

18. Governing Law. All issues and questions concerning the construction, validity, enforcement and interpretation of this
Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of New York or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than the State of New York. 
 19. WAIVER OF JURY TRIAL.
EACH PARTY HERETO (INCLUDING THE CUSTODIAN) TO THE FULLEST EXTENT PERMITTED BY LAW HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT. EACH PARTY HERETO (INCLUDING THE CUSTODIAN) CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE SUCH WAIVER, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, AND (C) IT MAKES SUCH WAIVER VOLUNTARILY. 

20. CONSENT TO JURISDICTION. 

(a) EACH OF THE PARTIES HERETO (INCLUDING THE CUSTODIAN) HEREBY TO THE FULLEST EXTENT PERMITTED BY LAW CONSENTS TO THE EXCLUSIVE JURISDICTION
OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AS WELL AS TO THE JURISDICTION OF ALL COURTS TO WHICH AN APPEAL MAY BE TAKEN FROM SUCH COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF, OR IN
CONNECTION WITH, THIS AGREEMENT. EACH PARTY HERETO (INCLUDING THE CUSTODIAN) TO THE FULLEST EXTEND PERMITTED BY LAW HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS TO BRING ANY SUIT, ACTION OR OTHER PROCEEDING IN OR BEFORE ANY COURT OR TRIBUNAL OTHER
THAN THE COURTS DESCRIBED ABOVE AND COVENANTS THAT IT SHALL NOT SEEK IN ANY MANNER TO PROSECUTE OR DEFEND ANY SUIT, ACTION OR OTHER PROCEEDING OTHER THAN AS SET FORTH IN THIS SECTION 20. 

(b) EACH OF THE PARTIES HERETO (INCLUDING THE CUSTODIAN) HEREBY TO THE FULLEST EXTENT PERMITTED BY LAW EXPRESSLY WAIVES ANY AND ALL OBJECTIONS
IT MAY HAVE TO VENUE, INCLUDING, WITHOUT LIMITATION, THE INCONVENIENCE OF SUCH FORUM, IN SUCH COURT. IN ADDITION, EACH OF THE PARTIES HERETO (INCLUDING THE CUSTODIAN) TO THE FULLEST EXTENT PERMITTED BY LAW CONSENTS TO THE SERVICE OF PROCESS BY
PERSONAL SERVICE OR ANY MANNER IN WHICH NOTICES MAY BE DELIVERED HEREUNDER IN ACCORDANCE WITH SECTION 9 OF THIS AGREEMENT. 

  
 - 13 - 

 21. Counterparts. This Agreement may be executed by the parties hereto individually
or in any combination, in one or more counterparts (including by means of facsimile or PDF signature pages), each of which shall be an original and all of which shall together constitute one and the same agreement. 

22. Specific Performance. 

(a) Except to any extent otherwise expressly provided herein, any and all remedies herein expressly conferred upon a Person will be deemed
cumulative with and not exclusive of any other remedy conferred hereby, by any other Transaction Document or by law or equity upon such Person, and the exercise by a Person of any one remedy will not preclude the exercise of any other remedy. 

(b) The parties hereto agree that irreparable damage for which monetary relief, even if available, would not be an adequate remedy, would occur
in the event that any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached, including if a party hereto fails to take any action required of it hereunder to consummate the transactions
contemplated by this Agreement. To the fullest extent permitted by law, the parties acknowledge and agree that (i) the parties shall be entitled to seek an injunction or injunctions, specific performance or other equitable relief to prevent
breaches of this Agreement and to enforce specifically the terms and provisions hereof in the courts described in Section 20, without proof of damages or otherwise, this being in addition to any other remedy to which they are entitled
under this Agreement or any other Transaction Document or at law or in equity, and (ii) the right of specific enforcement is an integral part of the transactions contemplated by this Agreement and without that right, the parties hereto would
not have entered into this Agreement. The parties hereto agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to law or inequitable for any reason, and not to assert that a remedy of monetary damages would
provide an adequate remedy or that the parties otherwise have an adequate remedy at law. The parties hereto acknowledge and agree that any party seeking an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically
the terms and provisions of this Agreement in accordance with this Section 22 shall not be required to provide any bond or other security in connection with any such order or injunction. Notwithstanding anything herein to the contrary,
the parties hereby agree not to pursue any such remedies against the Custodian in such case where it has, in good faith, chosen to refrain from acting pursuant to Section 6(e). 

23. Further Assurances. The parties hereto shall execute and deliver such other instruments and take such further actions, in
each case as may be reasonably requested by any other party hereto in order to carry out the purposes of this Agreement. 
 24.
Capacity as Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of
SRC Facilities Statutory Trust No. 2003-A, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of any Sears Party is made and intended
not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of binding only such Sears Party, (c) nothing herein contained shall be construed as creating any
liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto, (d) U.S. Bank Trust
National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by any Sears Party in this Agreement and (e) under no circumstances shall U.S. Bank Trust National Association be
personally liable for the payment of any indebtedness or expenses of any Sears Party or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by any Sears Party under this Agreement or any
other related document 

  
 - 14 - 

 [Signature Pages Follow.] 

  
 - 15 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
above. 
  

	
	SEARS PARTIES:
	
	SEARS HOLDINGS CORPORATION
	  
 By:
                                         
                               

	Name:
	Title:
	
	SEARS , ROEBUCK AND CO.
	
	By:
                                         
                               
	Name:
	Title:
	
	SRC DEPOSITOR CORPORATION
	
	By:
                                         
                               
	Name:
	Title:
	
	SRC O.P. CORPORATION
	
	By:
                                         
                               
	Name:
	Title:
	
	KCD IP, LLC
	
	By:
                                         
                               
	Name:
	Title:
	
	SEARS BRANDS, L.L.C.
	
	By:
                                         
                               
	Name:
	Title:

 [Signature Page to Custodian Agreement] 

  
 - 16 - 

	
	SRC REAL ESTATE (TX), LP
	  
 By: SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability
company, its general partner

	  
 By: SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory
trust acting only with respect to the applicable SUBI Portfolio, its sole member

	  
 By: U.S. Bank Trust National Association, not in its individual
capacity but solely as SUBI Trustee

	
	
By:                        
                                         
        

	 Name:

	 Title:

	
	SRC REAL ESTATE HOLDINGS (TX), LLC
	
	By: SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the appli-cable SUBI Portfolio, its sole member
	
	By: U.S. Bank Trust National Associa-tion, not in its individual capacity but solely as SUBI Trustee
	
	
By:                        
                                         
        

	 Name:

	 Title:

	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A
	
	By: U.S. Bank Trust National Associa-tion, not in its individual capacity but solely as trustee
	
	
By:                        
                                         
        

	 Name:

	 Title:

 [Signature Page to Custodian Agreement] 

	
	 PBGC:

	  
 PENSION BENEFIT GUARANTY CORPORATION

 

By:                         
                                    

Name:
 Title:

 [Signature Page to Custodian Agreement] 

	
	 CUSTODIAN:

	  
 STATE STREET BANK AND TRUST COMPANY

 

By:                  
                                       

Name:

Title:

 [Signature Page to Custodian Agreement] 

 EXHIBIT A-1 

IP COLLATERAL SECURITY AGREEMENT 

[to be attached] 

 EXHIBIT A-2 

TRADEMARK SECURITY AGREEMENT 
 [to
be attached] 

 EXHIBIT A-3 

IP COLLATERAL FINANCING STATEMENT 

[to be attached] 

 EXHIBIT B-1 

REMIC CERTIFICATE PLEDGE AGREEMENT 

[to be attached] 

 EXHIBIT B-2 

REMIC CERTIFICATE TRANSFER POWERS 

[to be attached] 

 EXHIBIT B-3 

COPIES OF REMIC CERTIFICATES 
 [to
be attached] 

 EXHIBIT B-4 

REMIC CERTIFICATE FINANCING STATEMENT 

[to be attached] 

 EXHIBIT C-1 

REMIC REAL PROPERTY COLLATERAL FINANCING STATEMENTS 

[to be attached] 

 EXHIBIT C-2 

REMIC REAL PROPERTY COLLATERAL MORTGAGES 

[list to be inserted] 

 EXHIBIT E 

SPECIMEN SIGNATURES 
 PBGC: 

 

			
	Name	  	Signature
		
	[                    ]	  	  

		
	[                    ]	  	  

 Sears Parties: 
  

			
	Name	  	Signature
		
	[                    ]	  	  

		
	[                    ]	  	  

 EXHIBIT F 

FEE SCHEDULE 
  

					
	 Annual Fee:
	  	$	16,000	  

 Other Fees and Charges: The following additional fees and charges will be billed each month as specified:

  

					
	 SWIFT (per message)
	  	$	0.30	  
	 Audit/SSAE 16 Reports (per month)
	  	$	75.00	  
	 Checks
	  			
	 Issued (per check)
	  	$	2	  
	 Certified (per check)
	  	$	8	  
	 Stopped (per check)
	  	$	15	  
	 Manual Reports (per report)
	  	$	150	  
	 Dedicated Hardware / Transmission Lines (per Fund/per month)
	  	 	As agreed	  
	 Supplies, Printing and Duplication (per fund/per month)
	  	$	110	  
	 Archiving / Document Storage (per fund/per month)
	  	$	11	  
	 Telephone (per fund/per month)
	  	$	30	  
	 Rule 17f-5 CD (per copy)
	  	$	5,500	  

 The above fees and charges do not constitute out-of-pocket or pass-through expenses (i.e., they include a mark-up and/or
overhead cost allocation) and are subject to change by State Street upon 30 days’ written notice. Additional fees and charges of a similar nature or type may be imposed by State Street upon 90 days’ written notice, subject to agreement
between State Street and the customer. 
 Out-of-pocket expenses incurred by State Street (and by its subcustodians and depositories) on the customer’s
behalf will be passed through each month, including, without limitation, the following expenses: 
  

			
	 •    IRS Certifications and Filing Fees
	  	 •    Pricing and/or Verification

		
	 •    Courier or Overnight Delivery (plus $1 handling Fee)
	  	 •    Fair Valuation Vendor Charges

		
	 •    Reasonable Legal Expenses
	  	 •    ADR and GDR charges

		
	 •    Subcustodian, Depository or Transfer Agent Out-of-Pocket
	  	 •    Cost of responding to third party

		
	 •    DST output
	  	 •    NSCC settlement

 Out-of-pocket expenses incurred by State Street (and its subcustodians and depositories) will be billed to the
customer based upon actual usage of a service or an allocated or derived charge for the use of the service for the benefit of the customer. 
 Cash
Balances 
 Cash balances in designated currencies may be eligible for interest at such times and at such rates as State Street may specify from time to
time. In the absence of notice from State Street that deposit balances in a particular currency will bear interest, such balances will be held in non-interest bearing demand deposit accounts. Interest rates, if applicable, will vary by currency and
market conditions and State Street may change such interest rates, or may apply (and adjust) negative interest rates or equivalent charges on certain currencies, from time to time at its sole discretion. Details on applicable interest rates or
charges will be made available upon reasonable request. At any time, State Street may choose to limit, return, or not accept cash deposits and/or balances. At any time, State Street may choose to limit, return, or not accept cash deposit and/or
balances. 
 This Fee Schedule assumes no material changes to volume, structure or asset composition assumptions used to construct this Fee Schedule. Any
such changes could result in the need for amended fee terms. 

 EXECUTION VERSION 

POWER OF ATTORNEY 
 Each of the
undersigned (each, a “Company” collectively, the “Companies”), does each hereby irrevocably appoint the Pension Benefit Guaranty Corporation, a wholly-owned United States government corporation
(“Agent”) as its true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution for it and in its name, place, and stead in any and all capacities and for its use and benefit for the acts set forth in
Paragraphs (a)-(c) of this Power of Attorney. Reference in this Power of Attorney is made to (i) the Pension Plan Protection and Forbearance Agreement, dated as of March 17, 2016 (as amended, restated, supplemented or otherwise modified from
time to time, the “PPPFA”), by and among the Sears Parties and Agent, and (ii) the Custodian and Document Control Agreement, a form of which is attached as Exhibit 11 to the PPPFA (as amended, restated, supplemented or otherwise
modified from time to time, the “Custodial Agreement”), by and among certain Sears Parties, Agent and State Street Bank and Trust Company. Any capitalized term used but not defined in this Power of Attorney will have the
meaning ascribed to such term in the PPPFA. 
  

	(a)	Following the occurrence of a Springing Lien Event, to do and perform any and all acts which may be reasonably necessary to perfect the applicable Springing Lien and, to the extent in accordance with applicable law and
not otherwise expressly prohibited by the Transaction Documents, Foreclose on the Designated Assets, including, without limitation: (i) with respect to the REMIC Certificate Collateral Documents (as defined in the Custodial Agreement), as may be
contemplated by the PPPFA, the Custodial Agreement or any other Transaction Document, (ii) with respect to the IP Collateral Documents (as defined in the Custodial Agreement), as may be contemplated by the PPPFA, the Custodial Agreement or any other
Transaction Document, and/or (iii) with respect to the REMIC Real Property Collateral Documents (as defined in the Custodial Agreement), as may be contemplated by the PPPFA, the Custodial Agreement or any other Transaction Document, and further to
execute, make state-specific conformations, and record such REMIC Real Property Collateral Documents with respect to the REMIC Properties; 

  

	(b)	To do and perform any and all acts as may be required by any federal, state or local governmental authority in connection with the foregoing; and 

 

	(c)	To do and perform each and every act and thing necessary, requisite, desirable or proper in connection with the foregoing and hereby ratifies and confirms all that any such Agent or Substitute Agent, individually, may
do or cause to be done by virtue hereof. 

 Each Company also hereby: 

 

	(1)	declares that all and every one of the documents contemplated hereby and the actions executed or done by any Agent or Substitute Agent for the aforesaid purposes shall be as good, valid and effectual to all intents and
purposes whatsoever as if the same had been executed or done by such Company itself; and 

  

	(2)	declares that this power of attorney shall be irrevocable. 

 Any Agent may appoint as its substitute any
person, company or firm as attorney in fact and agent (“Substitute Agent”) of each of the Companies and delegate to such Substitute Agent all the powers and authorities hereby conferred and revoke any such appointment from time to
time and substitute or appoint any other or others in the place of Agent as such Agent may from time to time think fit. 

 Agent, on behalf of itself and any Substitute Agent, agrees that it shall not take any action under this power of
attorney until the occurrence of a Springing Lien Event. 
 The Company shall update this power of attorney promptly following the reasonable request of
PBGC to reflect any changes required by law. 
 This power of attorney shall in all respects be interpreted in accordance with, and governed by, the laws of
the State of New York (excluding any conflicts-of-law rule or principle that might refer same to the laws of another jurisdiction). 
 It is expressly
understood and agreed by the Parties that (a) this Power of Attorney is executed and delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the SRC Trust, in the exercise of the powers and
authority conferred and vested in it, (b) each of the representations, undertakings and agreements therein made on the part of the SRC Trust, SRC R.E. and SRC Holdings is made and intended not as personal representations, undertakings and agreements
by U.S. Bank Trust National Association but is made and intended for the purpose of binding only the SRC Trust, SRC R.E. and SRC Holdings, (c) nothing herein contained or in any Transaction Document shall be construed as creating any liability on
U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the Parties hereto, (d) U.S. Bank Trust National
Association has made no investigation as to the accuracy or completeness of any representations and warranties made by the SRC Trust, SRC R.E. or SRC Holdings in this Power of Attorney and (d) under no circumstances shall U.S. Bank Trust National
Association be personally liable for the payment of any indebtedness or expenses of the SRC Trust, SRC R.E. or SRC Holdings or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the SRC
Trust, SRC R.E. or SRC Holdings under this Power of Attorney or any other related document. 
 [Signature Page Follows] 

  
 2 

 IN WITNESS WHEREOF, the undersigned have each caused this power of attorney to be executed as of the
     day of          , 2016. 
  

					
	SRC O.P. CORPORATION, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

		 	Name:	 	Scott E. Huckins
		 	Title:	 	Vice President

  

	
	WITNESSES:
	
	

	  

	
	 

  

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the      day of         , 20    , before
me, the undersigned, a notary public in and for said state, personally appeared Scott E. Huckins, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument,
and acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ DEANN M. BOGNER

	Notary Public

  

			
	 

	 	 [SEAL]

 [Signature Page to Power of Attorney] 

 
					
	SRC DEPOSITOR CORPORATION, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

		 	Name:	 	Scott E. Huckins
		 	Title:	 	Vice President

  

	
	 WITNESSES:

	
	 

  

	
	 

  

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the      day of         , 20    , before
me, the undersigned, a notary public in and for said state, personally appeared Scott E. Huckins personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and
acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ DEANN M. BOGNER

	 Notary Public

  

			
	 

	 	 [SEAL]

 [Signature Page to Power of Attorney] 

 
					
	KCD IP, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Robert A. Riecker

		 	Name:	 	Robert A. Riecker
		 	Title:	 	Vice President

  

	
	 WITNESSES:

	
	 

  

	
	 

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the     day of         , 20    ,
before me, the undersigned, a notary public in and for said state, personally appeared Robert A. Riecker, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within
instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ DEANN M. BOGNER

	 Notary Public

  

			
	 

	 	 [SEAL]

 [Signature Page to Power of Attorney] 

 
					
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	JOSE A. GALARZA
		 	Title:	 	VICE PRESIDENT

  

	
	 WITNESSES:

	
	 

  

	
	 

  

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 

	 	 [SEAL]

 [Signature Page to Power of Attorney] 

 
									
	SRC REAL ESTATE (TX), LP, a Delaware limited partnership
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	JOSE A. GALARZA
		 		 		 	Title:	 	VICE PRESIDENT

  

	
	 WITNESSES:

	
	 

  

	
	 

  

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 

	 	 [SEAL]

 [Signature Page to Power of Attorney] 

 
							
	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
		
	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
				
		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	JOSE A. GALARZA
		 		 	Title:	 	VICE PRESIDENT

  

	
	 WITNESSES:

	
	 

  

	
	 

  

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 

	 	 [SEAL]

 [Signature Page to Power of Attorney] 

 Exhibit 12 

PBGC RE Perfection Documents 

[See Attached] 

 

 
 UCC FINANCING STATEMENT 
FOLLOW INSTRUCTIONS

A. NAME & PHONE OF CONTACT AT FILER (optional) 
B. E-MAIL CONTACT AT FILER
(optional) 
C. SEND ACKNOWLEDGMENT TO: (Name and Address) 
THE ABOVE SPACE IS
FOR FILING OFFICE USE ONLY 
1. DEBTOR’S NAME: Provide only one Debtor name (1a or 1b) (use exact, full name; do not omit, modify, or abbreviate any part of the
Debtor’s name); if any part of the Individual Debtor’s name will not fit in line 1b, leave all of item 1 blank, check here  ̈and provide the Individual Debtor information in item 10 of the
Financing Statement Addendum (Form UCC1Ad) 
1a. ORGANIZATION’S NAME 
SRC
Depositor Corporation 
OR 1b. INDIVIDUAL’S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 
1c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 
c/o Sears Holding Corporation, 3333 Beverly
Road Hoffman Estates IL 60179 USA 
2. DEBTOR’S NAME: Provide only one Debtor name (2a or 2b) (use exact, full name; do not omit, modify, or abbreviate any part
of the Debtor’s name); if any part of the Individual Debtor’s name will not fit in line 2b, leave all of item 2 blank, check here  ̈ and provide the Individual Debtor information in item 10 of
the Financing Statement Addendum (Form UCC1Ad) 
2a. ORGANIZATION’S NAME

OR 2b. INDIVIDUAL’S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 
2c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 
3. SECURED PARTY’S NAME (or NAME of
ASSIGNEE of ASSIGNOR SECURED PARTY): Provide only one Secured Party name (3a or 3b) 
3a. ORGANIZATION’S NAME 
Pension Benefit Guaranty Corporation 
OR 3b. INDIVIDUAL’S SURNAME FIRST PERSONAL NAME
ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 
3c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 
Attn: Chief Counsel, Office of the Chief Counsel, 1200 K Street, N.W., Suite 320 Washington DC 20005-4026 USA 
4. COLLATERAL: This financing statement covers the following collateral: 
See Exhibit A
attached hereto and incorporated herein. 
5. Check only if applicable and check only one box: Collateral is  ̈ held
in a Trust (see UCC1Ad, item 17 and Instructions)  ̈ being administered by a Decedent’s Personal Representative

6a. Check only if applicable and check only one box: 
6b. Check only if
applicable and check only one box: 
 ̈ Public-Finance Transaction  ̈
Manufactured-Home Transaction  ̈ A Debtor is a Transmitting Utility  ̈ Agricultural Lien  ̈ Non-UCC Filing

7. ALTERNATIVE DESIGNATION (if applicable):  ̈ Lessee/Lessor  ̈
Consignee/Consignor  ̈ Seller/Buyer  ̈ Bailee/Bailor  ̈ Licensee/Licensor 
8. OPTIONAL FILER REFERENCE DATA: 
File with: Delaware Secretary of State Additional Pages: 2
(Ref No. 1006966-00002) 
International Association of Commercial Administrators (IACA) 
FILING OFFICE COPY — UCC FINANCING STATEMENT (Form UCC1) (Rev. 04/20/11) 

 Exhibit A 

to UCC-1 Financing Statement 
  

							
	Debtor:	 	SRC Depositor Corporation	  	Secured Party:	 	Pension Benefit Guaranty Corporation
		 	c/o Sears Holding Corporation	  		 	Attn: Chief Counsel
		 	3333 Beverly Road	  		 	Office of the Chief Counsel
		 	Hoffman Estates, IL 60179	  		 	1200 K Street, N.W., Suite 320
		 		  		 	Washington DC 20005-4026

 Collateral: 
 All
Debtor’s right, title and interest in and to (a) the real estate mortgage investment conduit certificates set forth below or hereafter acquired by Debtor (the “Pledged Certificates”) and (b) any and all income from, increases in, and
distributions in respect of and proceeds of the Pledged Certificates. 
 The Pledged Certificates: 

 

	 	•	 	Class A-1 Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AA 5, Certificate No. A1-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class A-2 Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AB 3, Certificate No. A2-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class B Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AC 1, Certificate No. B-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class C Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AD 9, Certificate No. C-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class D Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AE 7, Certificate No. D-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class E Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AF 4, Certificate No. E-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class F Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AG 2, Certificate No. F-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class PI Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AH 0, Certificate No. PI-2 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage
loans, such pool being formed and sold by SRC Depositor Corporation 

  

	 	•	 	Class R Mortgage Pass-Through Certificate, Series 2003-1, Certificate No. R-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage loans, such pool being
formed and sold by SRC Commercial Mortgage Trust 2003-1 

 EXECUTION VERSION 

PLEDGE AGREEMENT 
 THIS
PLEDGE AGREEMENT (this “Pledge Agreement”), dated as of [                 ,
20    ]1, is by and between SRC DEPOSITOR CORPORATION, a Delaware corporation (the “Pledgor”), and PENSION BENEFIT GUARANTY CORPORATION (the “Secured
Party” and, collectively with the Pledgor, the “Parties”). Capitalized terms used herein but not defined herein shall have the meanings ascribed to them in the PPPFA (as defined below). 

W I T N E S S E T H: 
 WHEREAS,
Secured Party is a wholly owned United States government corporation established under 29 U.S.C. § 1302 to administer the pension plan termination insurance program created under Title IV of the Employee Retirement Income Security Act of 1974,
29 U.S.C. §§ 1301 – 1461 (2012, Supp. I 2013) (as amended from time to time, together with the regulations thereunder, in each case in effect from time to time, “ERISA”); 

WHEREAS, Sears Holdings Corporation, a Delaware corporation (the “Company”) is the plan sponsor (as such term is defined in
ERISA Section 3(16)(B)) of the Sears Holdings Pension Plan, as amended and restated effective January 1, 2014 (the “Plan”); 

WHEREAS, the Company is the ultimate corporate parent company of Pledgor, and Pledgor is a member of the Company’s “controlled
group,” as that term is defined in ERISA Section 4001(a)(14); 
 WHEREAS, pursuant to that certain Pension Plan Protection and
Forbearance Agreement, dated as of March 18, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”), by and among the Company, the other Sears Parties (including Pledgor), and Secured Party,
the Company, Pledgor and such other Sears Parties have offered to provide Secured Party and the Plan with certain enhanced protections in exchange for Secured Party’s agreement to forbear from initiating termination proceedings with respect to
the Plan pursuant to ERISA Section 4042 for the term and under the conditions provided in the PPPFA; 
 WHEREAS, Pledgor will realize
substantial direct and indirect benefits as a result of the arrangements memorialized in the PPPFA; 
 WHEREAS, Pledgor is holder of certain
REMIC Certificates as described on Schedule I hereto, issued by Wells Fargo Bank, N.A., as trustee for SRC Commercial Mortgage Trust 2003-1 (the “Issuer”); 

WHEREAS, pursuant to that certain Custodian and Document Escrow Agreement, dated as of
[                 ,] 2016 (the “Escrow Agreement”), by and between Secured Party and State Street Bank and Trust Company (the
“Custodian”), this Pledge Agreement and the Pledged Collateral (as defined below) have been deposited with the Custodian; and 

 

	1 	NTD: To be dated and effective as of the first date on which a Springing Lien Event occurs; this mechanism will be set forth in the document evidencing the escrow arrangement with the Custodian. Nothing in this REMIC
Pledge Agreement shall be effective until the occurrence of a Springing Lien Event. This footnote will be deleted from the final document prior to the same becoming effective. 

 WHEREAS, the obligation of Secured Party to enter into the PPPFA is subject to the condition,
among others, that Pledgor shall execute and deliver this Pledge Agreement and grant the pledge and security interests hereinafter described; 

NOW, THEREFORE, in consideration of Secured Party’s willingness to enter into the PPPFA and to agree, subject to the terms and conditions
set forth therein, to temporarily forbear from initiating termination proceedings with respect to the Plan pursuant to ERISA Section 4042 for the term and under the conditions provided in the PPPFA, and for other good and valuable consideration,
receipt of which is hereby acknowledged, it is hereby agreed as follows: 
 1. Defined Terms. Unless otherwise defined herein, terms
defined in the PPPFA and used herein shall have the meanings given them in the PPPFA. Further, unless otherwise defined herein, terms defined in Articles 8 and 9 of the Uniform Commercial Code as enacted and in effect from time to time in the State
of New York are used in this Pledge Agreement as such terms are defined in such Article 8 or 9 . “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided, however, that, at any time,
if by reason of mandatory provisions of law, any or all of the perfection or priority of the Secured Party’s security interest in any item or portion of the Pledged Collateral is governed by the Uniform Commercial Code as in effect in a
jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the provisions relating to such perfection or priority and for
purposes of definitions relating to such provisions. 
 2. Security Interest. As security for the Secured Obligations (as defined in
Section 3 below), Pledgor hereby grants a security interest in, and lien on, and pledges and assigns as collateral to, Secured Party, all of Pledgor’s right, title and interest in and to (a) the REMIC Certificates set forth on
Schedule I attached hereto or as hereafter acquired by Pledgor (the “Pledged Certificates”) and (b) any and all income from, increases in, and distributions in respect of and proceeds of the Pledged Certificates (all such
property referred to in the foregoing clauses (a) and (b) being herein referred to collectively as the “Pledged Collateral”). 

3. Secured Obligations. The security interest hereinabove granted shall secure the due and punctual payment of the PBGC UBL Claims (the
“Secured Obligations”). 
 4. Special Warranties and Covenants of the Pledgor. Pledgor hereby represents and
warrants as of the date hereof or covenants, as applicable, to Secured Party that: 
 (a) The Pledged Certificates have been delivered to
Secured Party (or, if applicable, to the Custodian for the benefit of Secured Party) in accordance with the terms of the Escrow Agreement and such Pledged Collateral is duly and validly pledged to Secured Party, in accordance with applicable law;
subject to non-consensual liens which may prime Secured Party’s security interest by operation of statute (if any), Secured Party has a perfected first priority security interest in such Pledged Collateral; and Pledgor shall defend Secured
Party’s right, title and security interest in and to the Pledged Collateral against the claims and demands of all Persons whomsoever, except as not prohibited by the PPPFA. 

(b) Pledgor has good title to, and is the sole record and beneficial owner of, the Pledged Collateral, free and clear of all liens, security
interests, and encumbrances, except as not prohibited by the PPPFA. 
 (c) Pledgor has tendered to the Secured Party the consent of any
other party deemed necessary or appropriate by Pledgor for consummation of the transactions contemplated hereby. 

  
 2 

 (d) Pledgor has full power, authority and legal right to execute, deliver and perform its
obligations under this Pledge Agreement and to pledge and grant a security interest in all of the Pledged Collateral pursuant to this Pledge Agreement, and the execution, delivery and performance hereof and the pledge of and granting and enforcement
(where applicable) of a security interest in the Pledged Collateral hereunder have been duly authorized by all necessary corporate or other action and do not contravene any law, rule or regulation or any provision of Pledgor’s governing
documents, or of any judgment, decree or order of any tribunal or of any agreement or instrument to which Pledgor is a party or by which it or any of its property is bound or affected or constitute a default. 

(e) Pledgor shall not sell, convey or otherwise dispose of any of the Pledged Collateral or any interest therein, nor will Pledgor create,
incur or permit to exist any lien, charge, encumbrance or security interest whatsoever with respect to any of the Pledged Collateral or the proceeds thereof, except as not prohibited by the PPPFA. 

(f) Pledgor shall at any time and from time to time execute and deliver, or cause to be executed and delivered, such other agreements,
instruments, certificates and documents and take, or cause to be taken, such other actions as Secured Party may reasonably request to insure the continued protection, perfection and first priority of Secured Party’s security interest in any of
the Pledged Collateral. 
 5. Distributions. If, upon the dissolution, winding up, liquidation or reorganization of Issuer, whether
in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or any other marshaling of the assets and liabilities of Issuer, or otherwise, any sum is to be paid or any property is to be distributed upon
or with respect to any of the Pledged Collateral, such sum shall be paid over to Secured Party, as collateral security for the Secured Obligations. In case any distribution of capital or profits is made on any of the Pledged Collateral, or any cash
or other property is distributed upon or with respect to the Pledged Collateral, the property so distributed shall be delivered to Secured Party (or, if applicable, to the Custodian for the benefit of Secured Party), as collateral security for the
Secured Obligations. 
 6. Events of Default. As used herein, an “Event of Default” shall mean the occurrence of one
of the events described in either of clause (1) or clause (2) of Section 6.08(a) of the PPPFA. 
 7. Rights and Remedies of Secured
Party. Upon the occurrence of an Event of Default, Secured Party shall have the following rights and remedies: 
 (a) All rights and
remedies provided by law, including, without limitation, those provided by the UCC, or in equity. 
 (b) All rights and remedies provided in
this Pledge Agreement, the PPPFA, any other Transaction Document, or any other agreement, document or instrument pertaining to the Secured Obligations. 

8. Right to Transfer into Name of Secured Party, etc. Upon the occurrence of an Event of Default, but subject to the provisions of the
UCC or other applicable law, Secured Party may cause all or any of the Pledged Collateral to be transferred into its name or into the name of its nominee or nominees. So long as no Event of Default has occurred, Pledgor shall be entitled (a) to
exercise as Pledgor may deem fit, but in a manner not inconsistent with the terms hereof or of the Secured Obligations, the voting power, if any, with respect to the Pledged Collateral and (b) to the extent not prohibited by the PPPFA, to receive
and retain any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Collateral. 

  
 3 

 9. Right of Secured Party to Exercise Voting Power, etc. Upon the occurrence of an Event
of Default, Secured Party shall be entitled to exercise the voting power with respect to the Pledged Collateral, to receive and retain, as collateral security for the Secured Obligations, any and all dividends, interest, principal and other
distributions at any time and from time to time declared, paid on or distributed in respect of any of the Pledged Collateral, and to exercise any and all rights of payment, conversion, exchange, subscription or any other rights, privileges or
options pertaining to the Pledged Collateral as if it were the absolute owner thereof, including, without limitation, the right to exchange, at its discretion, any and all of the Pledged Collateral upon the merger, consolidation, reorganization,
recapitalization or other readjustment of the Issuer or, upon the exercise of any such right, privilege or option pertaining to the Pledged Collateral, and in connection therewith, to deposit and deliver any and all of the Pledged Collateral with
any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as Secured Party may determine, all without liability except to account for property actually received, but Secured Party shall have no
duty to exercise any of the aforesaid rights, privileges or options and shall not be responsible for any failure to do so or delay in so doing. 

10. Right of Secured Party to Dispose of Pledged Collateral, etc. Upon the occurrence of an Event of Default, Secured Party shall have
the right at any time or times thereafter to sell, resell, assign and deliver all or any of the Pledged Collateral in one or more parcels at any exchange or broker’s board or at public or private sale. Unless the Pledged Collateral threatens to
decline speedily in value or is of a type customarily sold on a recognized market, Secured Party will give the Pledgor at least ten (10) days’ prior written notice in accordance with Section 21 hereof of the time and place of any public
sale of any of the Pledged Collateral or of the time after which any private sale or any other intended disposition thereof is to be made. Any such notice shall be deemed to meet any requirement hereunder or under any applicable law (including the
UCC) that reasonable notification be given of the time and place of such sale or other disposition. Such notice may be given without any demand of performance or other demand, all such demands being hereby expressly waived by Pledgor. All such sales
will be at such commercially reasonable price or prices as Secured Party deems best and either for cash or on credit or for future delivery (without assuming any responsibility for credit risk). At any such sale or sales, Secured Party may purchase
any or all of the Pledged Collateral to be sold thereat upon such terms as Secured Party may deem best. Upon any such sale or sales the Pledged Collateral so purchased will be held by the purchaser absolutely free from any claims or rights of
whatsoever kind or nature, including any equity of redemption and any similar rights, all such equity of redemption and any similar rights being hereby expressly waived and released by Pledgor. In the event any consent, approval or authorization of
any governmental agency will be necessary to effectuate any such sale or sales, Pledgor shall promptly execute, and hereby agrees to cause Issuer to promptly execute and file, all such applications or other instruments as may be required. Pledgor
authorizes and appoints Secured Party to execute and file all such applications or other instruments in its stead, with full power of substitution, as Pledgor’s attorney in fact. Such appointment as attorney in fact is irrevocable and coupled
with an interest. 
 11. Pledgor recognizes that Secured Party may be unable to effect a public sale of all or a part of the Pledged
Collateral by reason of certain prohibitions contained in the Securities Act of 1933, as amended (the “Securities Act”) or otherwise but may be compelled to resort to one or more private sales to a restricted group of purchasers,
each of whom will be obligated to agree, among other things, to acquire such Pledged Collateral for its own account, for investment and not with a view to the distribution or resale thereof. Pledgor acknowledges that private sales so made may be at
prices and upon other terms less favorable to the seller than if such Pledged Collateral were sold at public sales without such restrictions, and that Secured Party has no obligation to delay sale of any such Pledged Collateral for the period of
time necessary to permit such Pledged Collateral to be registered for public sale under the Securities Act. Pledgor agrees that any such private sales shall not be deemed to have been made in a commercially unreasonable manner solely because they
shall have been made under the foregoing circumstances. 

  
 4 

 12. PPPFA. Notwithstanding any other provision of this Pledge Agreement, the rights of the
parties hereunder are subject to the provisions of the PPPFA, including the provisions thereof pertaining to the rights and responsibilities of Secured Party. In the event that any provision of this Pledge Agreement is in conflict with the terms of
the PPPFA, the PPPFA shall control. Unless the context shall otherwise clearly indicate, the term “Secured Party” as used herein includes the Custodian acting on Secured Party’s behalf in accordance with the terms of the Escrow
Agreement. The term “Custodian” as used herein shall include [Name of Custodian] or any other Person acting as custodian pursuant to the PPPFA. 

13. Collection of Amounts Payable on Account of Pledged Collateral, etc. Upon the occurrence of any Event of Default, Secured Party
may, but without obligation to do so, demand, sue for and/or collect any money or property at any time due, payable or receivable, to which it may be entitled hereunder, on account of, or in exchange for, any of the Pledged Collateral and shall have
the right, for and in the name, place and stead of Pledgor, to execute endorsements, assignments or other instruments of conveyance or transfer with respect to all or any of the Pledged Collateral. 

14. Care of Pledged Collateral in Secured Party’s Possession. Beyond the exercise of reasonable care to assure the safe custody of
the Pledged Collateral while held hereunder, Secured Party shall have no duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged
Collateral upon surrendering the same to Pledgor. 
 15. Proceeds of Collateral. The proceeds of any sale or sales of the Pledged
Collateral, together with any other additional collateral security at the time received and held hereunder (collectively with the Pledged Collateral, the “Collateral”), shall be received and applied: first, to the payment of all
costs and expenses of such sale, including all costs and expenses of collection, storage, custody, or other disposition and delivery (including legal costs and reasonable attorneys’ fees); second, to the payment of the Secured Obligations in
accordance with the terms of the PPPFA; and third, any surplus thereafter remaining shall be paid to Pledgor or to whomever else may be legally entitled thereto (including, if applicable, any subordinated creditor of Issuer or Pledgor). In the event
the proceeds of any sale, lease or other disposition of the Collateral hereunder are insufficient to pay all of the Secured Obligations in full, Pledgor will be liable for the deficiency, together with interest thereon as provided in 29 C.F.R.
§ 4062.7, and the costs and expenses of collection of such deficiency, including (to the fullest extent permitted by law), without limitation, reasonable attorneys’ fees, expenses and disbursements. 

16. Waivers, etc. Pledgor hereby waives presentment, demand, notice, protest and, except as is otherwise expressly provided herein, all
other demands and notices in connection with this Pledge Agreement or the enforcement of Secured Party’s rights hereunder or in connection with any Secured Obligations or any Collateral; consents to and waives notice of the granting of
renewals, extensions of time for payment or other indulgences to Issuer or Pledgor or to any third party, or substitution, release or surrender of any collateral security for any Secured Obligation, the addition or release of Persons primarily or
secondarily liable on any Secured Obligation or on any collateral security for any Secured Obligation, the acceptance of partial payments on any Secured Obligation or on any collateral security for any Secured Obligation and/or the settlement or
compromise thereof. No delay or omission on the part of Secured Party in exercising any right hereunder will operate as a waiver of such right or of any other right hereunder. Any waiver of any such right on any one occasion will not be construed as
a bar to or waiver of any such right on any future occasion. PLEDGOR FURTHER WAIVES ANY RIGHT IT MAY HAVE UNDER THE LAWS OF THE STATE OF NEW YORK, UNDER THE LAWS OF ANY STATE 

  
 5 

 
IN WHICH ANY OF THE PLEDGED COLLATERAL MAY BE LOCATED OR WHICH MAY GOVERN THE COLLATERAL, OR UNDER THE LAWS OF THE UNITED STATES OF AMERICA, TO NOTICE (OTHER THAN ANY REQUIREMENT OF NOTICE
EXPRESSLY PROVIDED HEREIN OR IN THE PPPFA) OR TO A JUDICIAL HEARING PRIOR TO THE EXERCISE OF ANY RIGHT OR REMEDY PROVIDED BY THIS PLEDGE AGREEMENT (OR OTHERWISE) TO THE SECURED PARTY AND WAIVES ITS RIGHTS, IF ANY, TO SET ASIDE OR INVALIDATE ANY SALE
DULY CONSUMMATED IN ACCORDANCE WITH THE FOREGOING PROVISIONS HEREOF ON THE GROUNDS (IF SUCH BE THE CASE) THAT THE SALE WAS CONSUMMATED WITHOUT A PRIOR JUDICIAL HEARING. Pledgor’s waivers under this Section have been made voluntarily,
intelligently and knowingly and after Pledgor has been apprised and counseled by its attorneys as to the nature thereof and its possible alternative rights. 

17. Termination; Assignment, etc. Upon the termination of the PPPFA, this Pledge Agreement and the security interest in the Pledged
Collateral created hereby shall terminate. In such event, Secured Party agrees to execute such releases of liens on the Collateral as Grantor may reasonably request at Grantor’s sole expense. No waiver by any Party of any default will be
effective unless in writing nor operate as a waiver of any other default or of the same default on a future occasion. In the event of a sale or assignment by Secured Party of all or any of the Secured Obligations held by it, Secured Party may assign
or transfer its rights and interest under this Pledge Agreement in whole or in part to the purchaser or purchasers of such Secured Obligations, whereupon such purchaser or purchasers shall become vested with all of the powers and rights of Secured
Party hereunder. 
 18. Reinstatement. Notwithstanding the provisions of Section 17, this Pledge Agreement shall continue to
be effective or be reinstated, as the case may be, if at any time any amount received by Secured Party in respect of the Secured Obligations is rescinded or must otherwise be restored or returned by Secured Party upon the insolvency, bankruptcy,
dissolution, liquidation or reorganization of Issuer, Pledgor, or any other Sears Party, or upon the appointment of any intervener or conservator of, or trustee or similar official for, Issuer, Pledgor, or any other Sears Party, or any substantial
part of their respective properties, or otherwise, all as though such payments had not been made. 
 19. Governmental Approvals, etc.
Upon the exercise by Secured Party of any power, right, privilege or remedy pursuant to this Pledge Agreement which requires any consent, approval, qualification or authorization of any governmental authority or instrumentality, Pledgor shall
execute and deliver, or will cause the execution and delivery of, all applications, certificates, instruments and other documents and papers that the Secured Party may be required to obtain for such governmental consent, approval, qualification or
authorization. Pledgor authorizes and appoints Secured Party to execute and file all such applications, certificates, instruments and other documents and papers in its stead, with full power of substitution, as Pledgor’s attorney in fact. Such
appointment as attorney in fact is irrevocable and coupled with an interest. 
 20. Restrictions on Transfer, etc. To the extent that
any restrictions imposed by the REMIC Transactional Documents or any other document or instrument would in any way affect or impair the pledge of the Pledged Collateral hereunder or the exercise by Secured Party of any right granted hereunder,
including, without limitation, the right of Secured Party to dispose of the Pledged Collateral upon the occurrence of an Event of Default, Pledgor hereby waives such restrictions, and represents and warrants that it has caused Issuer to take all
necessary action to waive such restrictions, and Pledgor hereby agrees that it will take any further action that the Secured Party may reasonably request in order that the Secured Party may obtain and enjoy the full rights and benefits granted to
the Secured Party by this Pledge Agreement free of any such restrictions. 

  
 6 

 21. Notices. All notices, consents, approvals, elections and other communications
hereunder shall be in writing (whether or not the other provisions of this Pledge Agreement expressly so provide) and shall be deemed to have been duly given if delivered in accordance with the terms of Section 11.01 of the PPPFA. 

22. Intentionally Omitted. 

23. Amendment. No provision of this Pledge Agreement may be changed, modified, amended, restated, waived, supplemented, discharged,
canceled or terminated orally or by any course of dealing or in any other manner other than by a written agreement signed by Secured Party and Pledgor. Pledgor acknowledges that it has been advised by counsel in connection with the negotiation and
execution of this Pledge Agreement and is not relying upon oral representations or statements inconsistent with the terms and provisions hereof. 

24. Entire Agreement. This Pledge Agreement, together with the other Transaction Documents, constitutes the entire agreement between
Pledgor and the Secured Party with respect to the subject matter hereof and thereof, and supersedes all prior agreements and understandings, if any, relating to the subject matter hereof or thereof. Any promises, representations, warranties or
guarantees not herein contained and hereinafter made shall have no force and effect unless in writing signed by the parties hereto. Each Party acknowledges that it has been advised by counsel in connection with the negotiation and execution of this
Pledge Agreement and is not relying upon oral representations or statements inconsistent with the terms and provisions hereof. 
 25.
Miscellaneous. This Pledge Agreement shall inure to the benefit of and be binding upon the Parties and their respective successors and assigns, provided that Pledgor may not assign any of its rights or obligations hereunder without the
prior written consent of the Secured Party. The term “Secured Party” shall be deemed to include any other holder or holders of any of the Secured Obligations. In case any provision in this Pledge Agreement shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. This Pledge Agreement may be executed in any number of counterparts and by the different parties hereto on
separate counterparts, each of which shall be an original, but all of which together shall constitute one instrument. Delivery of an executed signature page to this Pledge Agreement or any document or instrument delivered in connection herewith by
facsimile transmission or other customary means of electronic transmission, including by PDF file, shall be as effective as delivery of a manually signed counterpart of this Pledge Agreement or such other document or instrument, as applicable. 

26. Governing Law; Jurisdiction; Waiver of Jury Trial. This Pledge Agreement, including the validity hereof and the rights and
obligations of the parties hereunder, shall be construed in accordance with and governed by the laws of the State of New York (without regard to its conflicts of laws rules). Each Party, to the fullest extent permitted by law, hereby consents to
service of process, and to be sued, in the State of New York and consents to the jurisdiction of any state or federal court located in the State of New York, as well as to the exclusive jurisdiction of all courts to which an appeal may be taken from
such courts, for the purpose of any suit, action or other proceeding arising out of any of its obligations hereunder or with respect to the transactions contemplated hereby, and expressly waives any and all objections it may have as to venue in any
such courts. Each Party further agrees that a summons and complaint commencing an action or proceeding in any such court shall be properly served and shall confer personal jurisdiction if served personally or by certified mail to it in accordance
with Section 21 hereof or as otherwise provided under the laws of the State of New York. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY SUIT, ACTION OR OTHER PROCEEDING INSTITUTED BY
OR AGAINST ANY OTHER PARTY IN RESPECT OF ITS OBLIGATIONS HEREUNDER OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
 7 

 [The remainder of this page intentionally left blank.] 

  
 8 

 IN WITNESS WHEREOF, the parties have executed this Pledge Agreement as a sealed instrument as of
the date first above written. 
  

					
	 PLEDGOR:

	
	 SRC DEPOSITOR CORPORATION

		
	 By:
	 	 /s/ Scott E. Huckins

		 	Name:	 	 Scott E. Huckins

		 	Title:	 	 Vice President

  
 [Signature Page to
Pledge Agreement] 

 
					
	 SECURED PARTY:

	
	 PENSION BENEFIT GUARANTY CORPORATION

		
	 By:
	 	 /s/ Karen L. Morris

		 	Name:	 	Karen L. Morris
		 	Title:	 	Acting CNR

  
 [Signature Page to
Pledge Agreement] 

 SCHEDULE I 

PLEDGED CERTIFICATES 
 Class A-1 Mortgage
Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AA 5, Certificate No. A1-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC
Depositor Corporation 
 2. Class A-2 Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AB 3, Certificate No. A2-1 evidencing a beneficial
ownership interest in a trust fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC Depositor Corporation 

3. Class B Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AC 1, Certificate No. B-1 evidencing a beneficial ownership interest in a trust
fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC Depositor Corporation 
 4. Class C Mortgage
Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AD 9, Certificate No. C-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC
Depositor Corporation 
 5. Class D Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AE 7, Certificate No. D-1 evidencing a beneficial
ownership interest in a trust fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC Depositor Corporation 

6. Class E Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AF 4, Certificate No. E-1 evidencing a beneficial ownership interest in a trust
fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC Depositor Corporation 
 7. Class F Mortgage
Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AG 2, Certificate No. F-1 evidencing a beneficial ownership interest in a trust fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC
Depositor Corporation 
 8. Class PI Mortgage Pass-Through Certificate, Series 2003-1, CUSIP No. 85230G AH 0, Certificate No. PI-2 evidencing a beneficial
ownership interest in a trust fund consisting primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC Depositor Corporation 

9. Class R Mortgage Pass-Through Certificate, Series 2003-1, Certificate No. R-1 evidencing a beneficial ownership interest in a trust fund consisting
primarily of a pool of commercial mortgage loans, such pool being formed and sold by SRC Commercial Mortgage Trust 2003-1 

 AFFIDAVIT OF TRANSFEROR 

                    ,
20         
 SRC DEPOSITOR CORPORATION 

c/o Sears, Roebuck and Co. 
 3333 Beverly Road 

Hoffman Estates, IL 60179 
 Wells Fargo Bank Minnesota, N.A. 

Wells Fargo Center 
 Sixth and Marquette 

Minneapolis, Minnesota 55479-0113 

	Attn:	Corporate Trust Services (CMBS), SRC Depositor Corporation, 

 Mortgage Pass-Through
Certificates, Series 2003-1 
  

	 	Re:	SRC Depositor Corporation, Mortgage Pass-Through Certificates, Series 2003-1 (the “Certificates”) 

Ladies and Gentlemen: 
 This letter is delivered
to you in connection with the transfer by SRC Depositor Corporation (in such capacity, the “Transferor”) to
                                        
(the “Transferee”), of those several Certificates in the above-captioned series (the “Transferred Certificates”) having the related Original Class Certificate Principal Balances as of November 24, 2003
(the “Closing Date”) and evidencing the related Certificate Rate in the Class to which it belongs, in each case as applicable and as set forth on Schedule 1 attached hereto. The Certificates were issued pursuant to the
Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated as of November 24, 2003, among SRC Depositor Corporation, as depositor (the “Depositor”), Sears, Roebuck and Co., as master
servicer, special servicer and document custodian, and Wells Fargo Bank Minnesota, N.A., as trustee. All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Transferor hereby
certifies, represents and warrants to you, as Certificate Registrar, that: 
 1. The Transferor is the lawful owner of the Transferred
Certificates with the full right to transfer such Certificates free from any and all claims and encumbrances whatsoever. 
 2. Neither the
Transferor nor anyone acting on its behalf has (a) offered, transferred, pledged, sold or otherwise disposed of any Certificate, any interest in any Certificate or any other similar security to any person in any manner, (b) solicited any
offer to buy or accepted a transfer, pledge or other disposition of any Certificate, any interest in any Certificate or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect to

  
 1 

 
any Certificate, any interest in any Certificate or any other similar security with any person in any manner, (d) made any general solicitation by means of general advertising or in any
other manner, or (e) taken any other action, which (in the case of any of the acts described in clauses (a) through (e) hereof) would constitute a distribution of any Certificate under the Securities Act of 1933, as amended (the
“Securities Act”), or would render the disposition of any Certificate a violation of Section 5 of the Securities Act or any state securities laws, or would require registration or qualification of any Certificate pursuant to
the Securities Act or any state securities laws. 

  
 2 

 
			
	Very truly yours,
	
	SRC DEPOSITOR CORPORATION
		 	(Transferor)
		
	By:	 	 /s/ SCOTT E. HUCKINS

		 	Name: Scott E. Huckins
		 	Title: Vice President

 [Transferor Affidavit] 

 Schedule 1 

Certificate List 
  

							
	 Class
	  	Original
Class Certificate
Principal Balance
($)	  	Certificate Rate
(%)	  	CUSIP
	 A-1
	  	319,350,000	  	5.672	  	85230G AA 5
	 A-2
	  	200,000,000	  	5.794	  	85230G AB 3
	 B
	  	61,100,000	  	5.826	  	85230G AC 1
	 C
	  	61,100,000	  	5.926	  	85230G AD 9
	 D
	  	20,407,400	  	6.026	  	85230G AE 7
	 E
	  	20,407,400	  	6.276	  	85230G AF 4
	 F
	  	603,267,200	  	6.426	  	85230G AG 2
	 PI
	  	26,784,000	  	10.000	  	85230G AH 0
	 R
	  	N/A	  	N/A	  	N/A

  
 4 

 EXHIBIT E-1 

FORM OF AFFIDAVIT OF TRANSFEREE 

[Date] 
 SRC DEPOSITOR CORPORATION 

c/o Sears, Roebuck and Co. 
 3333 Beverly Road 

Hoffman Estates, IL 60179 
 Wells Fargo Center 

Sixth and Marquette 
 Minneapolis, Minnesota 55479-0113 

Attn: Corporate Trust Services (CMBS), SRC Depositor 

Corporation, Mortgage Pass-Through Certificates, Series 

2003-1 
 Re: SRC Depositor
Corporation, Mortgage Pass-Through Certificates, Series 2003-1 (the “Certificates”) 
 Ladies and Gentlemen: 

This letter is delivered to you in connection with the transfer by
                                        
(the “Transferor”) to
                                        
(the “Transferee”) of a Certificate (the “Transferred Certificate”) having an initial [principal balance] as of November 24, 2003 (the “Closing Date”) of
$             evidencing a             % interest in the Class to which it belongs. The Certificates were issued
pursuant to the Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated as of November 24, 2003, among SRC Depositor Corporation, as depositor (the “Depositor”), Sears, Roebuck and Co.,
as master servicer, special servicer and document custodian, and Wells Fargo Bank Minnesota, N.A., as trustee. All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Transferee
hereby certifies, represents and warrants to you, as Certificate Registrar, that: 
 [NON-QIBS] 

1. The Transferee is acquiring the Transferred Certificate for its own account for investment and not with a view to or for sale or transfer in
connection with any distribution thereof, in whole or in part, in any manner which would violate the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws. 

2. The Transferee understands that (a) the Certificates have not been and will not be registered under the Securities Act or registered or
qualified under any applicable state securities laws, (b) neither the Depositor nor the Trustee or the Certificate Registrar is obligated so to register or qualify the Certificates and (c) the Certificates may not be resold or transferred
unless they are (i) registered pursuant to the Securities Act and registered or qualified pursuant to any applicable state securities laws or (ii) sold or transferred in 

  
 E-1-1 

 
transactions which are exempt from such registration and qualification and the Trustee and the Depositor have received either (A) certifications from both the transferor and the transferee
(substantially in the forms attached to the Pooling and Servicing Agreement) setting forth the facts surrounding the transfer or (B) an opinion of counsel satisfactory to the Trustee and the Depositor with respect to the availability of such
exemption (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Trustee or the Certificate Registrar in their respective capacities as such), together with copies of the certification(s)
from the Transferor and/or Transferee setting forth the facts surrounding the transfer upon which such opinion is based. Any holder of a Certificate desiring to effect such a transfer shall, and upon acquisition of such Certificate shall be deemed
to have agreed to, indemnify the Trustee, the Master Servicer, the Certificate Registrar and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws. 

3. The Transferee understands that it may not sell or otherwise transfer any portion of its interest in the Transferred Certificate except in
compliance with the provisions of Section 6.02 of the Pooling and Servicing Agreement, which provisions it has carefully reviewed, and that the Transferred Certificate will bear legends substantially to the following effect: 

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE
SECURITIES LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 6.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN 
 -AND- 

[In the case of the Certificates (other than the Class R and Class PI Certificates)] NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN
SHALL BE MADE TO ANY TRANSFEREE UNLESS SUCH TRANSFEREE EITHER (I) IS NOT (A) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
WHICH IS SUBJECT TO TITLE I OF ERISA, (B) A “PLAN” AS DESCRIBED IN SECTION 4975 OF THE CODE, (C) ANY ENTITY DEEMED TO HOLD THE PLAN ASSETS OF ANY OF THE FOREGOING BY REASON OF INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN
SUCH ENTITY, OR (D) A GOVERNMENT PLAN SUBJECT TO APPLICABLE LAW THAT IS SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE OR (II) HAS ACQUIRED AND IS HOLDING SUCH CERTIFICATE IN RELIANCE ON
ANY EXEMPTION LISTED UNDER FOOTNOTE 1 OF, AND AMENDED BY, PROHIBITED TRANSACTION EXEMPTION 2002-41, 67 FED. REG. 54487 (2002), OR ANY SUCCESSOR EXEMPTION (THE “UNDERWRITERS’ EXEMPTION”) AND IT UNDERSTANDS THAT THERE ARE CERTAIN
CONDITIONS TO THE AVAILABILITY OF THE UNDERWRITERS’ EXEMPTION INCLUDING THAT (A) THE CERTIFICATE HAVE A RATING OF AT LEAST BBB- BY A RATING AGENCY AND (B) IT IS AN “ACCREDITED INVESTOR” AS 

  
 E-1-2 

 DEFINED IN RULE 501(A)(1) OF REGULATION D OF THE SECURITIES ACT, OR (III)(A) IS AN INSURANCE COMPANY,
(B) THE SOURCE OF FUNDS TO BE USED BY IT TO PURCHASE AND HOLD THE CERTIFICATE (OR INTEREST THEREIN) IS AN “INSURANCE COMPANY GENERAL ACCOUNT” (WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60), AND
(C) THE CONDITIONS SET FORTH IN SECTIONS I AND III OF PTCE 95-60 HAVE BEEN SATISFIED. 
 [In the case of Class R Certificates and Class
PI Certificates]: NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)
(WHETHER OR NOT SUBJECT TO ERISA, AND INCLUDING, WITHOUT LIMITATION, FOREIGN OR GOVERNMENTAL PLANS), ANY “PLAN” DESCRIBED IN SECTION 4975(e)(1) OF THE CODE, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS OF ANY OF THE FOREGOING
BY REASON OF INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE
SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING. 
 4. Neither the Transferee nor anyone acting on
its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred any Certificate, any interest in any Certificate or any other similar security to any person in any manner, (b) solicited any offer to buy or accept a pledge,
disposition or other transfer of any Certificate, any interest in any Certificate or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect to any Certificate, any interest in any
Certificate or any other similar security with any person in any manner, (d) made any general solicitation by means of general advertising or in any other manner, or (e) taken any other action, that (in the case of any of the acts
described in clauses (a) through (e) above) would constitute a distribution of any Certificate under the Securities Act, would render the disposition of any Certificate a violation of Section 5 of the Securities Act or any state
securities law or would require registration or qualification of any Certificate pursuant thereto. The Transferee will not act, nor has it authorized or will it authorize any person to act, in any manner set forth in the foregoing sentence with
respect to any Certificate. 
 5. The Transferee has been furnished with all information regarding (a) the Depositor, (b) the
Certificates and distributions thereon, (c) the Pooling and Servicing Agreement, and (d) all related matters, that it has requested. 

  
 E-1-3 

 6. The Transferee is an “accredited investor” as defined in Rule 501(a)(1), (2),
(3) or (7) under the Securities Act and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Certificates; the Transferee has sought such
accounting, legal and tax advice as it has considered necessary to make an informed investment decision; and the Transferee is able to bear the economic risks of such an investment and can afford a complete loss of such investment. 

7. In the case of Class A-1, A-2, B, C, D, E and F Certificates, the Transferee either (A) is not an “employee benefit
plan” subject to ERISA or a “plan” described by Section 4975(e)(1) of the Code or any other retirement plan or other employee benefit plan or arrangement subject to any federal, state or local law materially similar to the
foregoing provisions of ERISA and the Code, or any entity deemed to hold plan assets of the foregoing by reason of investment by an employee benefit plan or plan in such entity or (B) (1) qualifies as an accredited investor as defined in
Rule 501(a)(1) of Regulation D under the Securities Act and satisfies all the requirements of the Underwriters’ Exemptions as in effect at the time of such transfer or (2) is an insurance company general account that is eligible for, and
satisfies all of the requirements for, Sections I and III of Department of Labor Prohibited Transaction Class Exemption 95-60 (“PTE 95-60”). In the case of Class PI and R Certificates, the Transferee is not an “employee benefit
plan” as defined in Section 3(3) of ERISA (whether or not subject to ERISA, and including, without limitation, foreign or governmental plans) or a “plan” described by Section 4975(e)(1) of the Code, or any entity deemed to
hold plan assets of the foregoing by reason of investment by an employee benefit plan or plan in such entity. 
 8. Check one of the
following: 
  

	      	The Transferee is a U.S. Person (as defined below) and it has attached hereto an Internal Revenue Service (“IRS”) Form W-9 (or successor form). 

 

	      	*The Transferee is not a U.S. Person and under applicable law in effect on the date hereof, no taxes will be required to be withheld by the Trustee (or its agent) with respect to distributions to be made on the
Transferred Certificate. The Transferee has attached hereto either [(i) a duly executed IRS Form W-8BEN (or successor form), which identifies such Transferee as the beneficial owner of the Transferred Certificate and states that such Transferee is
not a U.S. Person or (ii)] two duly executed copies of IRS Form W-ECI (or successor form), which identify such Transferee as the beneficial owner of the Transferred Certificate and state that interest and original issue discount on the Transferred
Certificate and Permitted Investments is, or is expected to be, effectively connected with a U.S. trade or business. The Transferee agrees to provide to the Certificate Registrar updated [IRS Forms W-8BEN or] IRS Forms W-ECI, as the case may be, any
applicable successor IRS forms, or such other certifications as the Certificate Registrar may reasonably request, on or before the date that any such IRS form or certification expires or becomes obsolete, or promptly after the occurrence of any
event requiring a change in the most recent IRS form of certification furnished by it to the Certificate Registrar. 

  

	 	

  

	*	Does not apply to Class R Certificates 

  
 E-1-4 

 For this purpose, “U.S. Person” means a citizen or resident of the United States, a corporation or
partnership (except to the extent provided in applicable Treasury Regulations) or other entity created or organized in, or under the laws of, the United States, any State or the District of Columbia, including any entity treated as a corporation or
partnership for federal income tax purposes, an estate whose income is subject to United States federal income tax regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the
administration of such trust, and one or more such U.S. Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code. 

[QIBS] 
 1. The Transferee is a
“qualified institutional buyer” as that term is defined in Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities Act”) and has completed one of the forms of certification to
that effect attached hereto as Annex 1 and Annex 2. The Transferee is aware that the sale to it is being made in reliance on Rule 144A. The Transferee is acquiring the Transferred Certificate for its own account or for the account of a qualified
institutional buyer, and understands that such Certificate may be resold, pledged or transferred only (i) to a person reasonably believed to be a qualified institutional buyer that purchases for its own account or for the account of a qualified
institutional buyer to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A, or (ii) pursuant to another exemption from registration under the Securities Act. 

2. In the case of a Class A-1, Class A-2, Class B, Class C, Class D, Class E, or Class F Certificates, the Transferee either
(A) is not an “employee benefit plan” subject to ERISA or a “plan” described by Section 4975(e)(1) of the Code or any other retirement plan or other employee benefit plan or arrangement subject to any federal, state or
local law materially similar to the foregoing provisions of ERISA and the Code, or any entity deemed to hold plan assets of the foregoing by reason of investment by an employee benefit plan or plan in such entity or (B) (1) qualifies as an
accredited investor as defined in Rule 501(a)(1) of Regulation D under the Securities Act and satisfies all the requirements of the Underwriter’s Exemptions as in effect at the time of such transfer or (2) is an insurance company general
account that is eligible for, and satisfies all of the requirements of, Sections I and III of Department of Labor Prohibited Transaction Class Exemption 95-60 (“PTE 95-60”). 

In the case of a Class PI or R Certificate, the Transferee is not an “employee benefit plan” as defined in Section 3(3) of ERISA
(whether or not subject to ERISA, and including, without limitation, foreign or governmental plans) or a “plan” described by Section 4975(e)(1) of the Code or any entity deemed to hold plan assets of the foregoing by reason of
investment by an employee benefit plan or plan in such entity. 
 3. The Transferee has been furnished with all information regarding
(a) the Certificates and distributions thereon, (b) the nature, performance and servicing of the Mortgage Loans, (c) the Pooling and Servicing Agreement, and (d) any credit enhancement mechanism associated with the Certificates,
that it has requested. 

  
 E-1-5 

 4. The Transferee understands that it may not sell or otherwise transfer any portion of its
interest in the Transferred Certificate except in compliance with the provisions of Section 6.02 of the Pooling and Servicing Agreement, which provisions it has carefully reviewed, and that the Transferred Certificate will bear legends
substantially to the following effect: 
 THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE
“SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 6.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN 

-AND- 
 [In the case of the
Certificates (other than the Class R and Class PI Certificates)] NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN SHALL BE MADE TO ANY TRANSFEREE UNLESS SUCH TRANSFEREE EITHER (I) IS NOT (A) AN “EMPLOYEE BENEFIT PLAN” AS
DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), WHICH IS SUBJECT TO TITLE I OF ERISA, (B) A “PLAN” AS DESCRIBED IN SECTION 4975 OF THE CODE, (C) ANY ENTITY DEEMED TO
HOLD THE PLAN ASSETS OF ANY OF THE FOREGOING BY REASON OF INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY, OR (D) A GOVERNMENT PLAN SUBJECT TO APPLICABLE LAW THAT IS SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY PROVISIONS
OF ERISA OR SECTION 4975 OF THE CODE OR (II) HAS ACQUIRED AND IS HOLDING SUCH CERTIFICATE IN RELIANCE ON ANY EXEMPTION LISTED UNDER FOOTNOTE 1 OF, AND AMENDED BY, PROHIBITED TRANSACTION EXEMPTION 2002-41, 67 FED. REG. 54487 (2002), OR ANY SUCCESSOR
EXEMPTION (THE “UNDERWRITERS’ EXEMPTION”) AND IT UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE UNDERWRITERS’ EXEMPTION INCLUDING THAT (A) THE CERTIFICATE HAVE A RATING OF AT LEAST BBB- BY A RATING
AGENCY AND (B) IT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(A)(1) OF REGULATION D OF THE SECURITIES ACT, OR (III)(A) IS AN INSURANCE COMPANY, (B) THE SOURCE OF FUNDS TO BE USED BY IT TO PURCHASE AND HOLD THE CERTIFICATE
(OR INTEREST THEREIN) IS AN “INSURANCE COMPANY GENERAL ACCOUNT” (WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60), AND (C) THE CONDITIONS SET FORTH IN SECTIONS I AND III OF PTCE 95-60 HAVE BEEN
SATISFIED. 
 [In the case of Class PI and R Certificates]: NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN SHALL BE MADE TO ANY “EMPLOYEE
BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) (WHETHER OR NOT SUBJECT 

  
 E-1-6 

 
TO ERISA, AND INCLUDING, WITHOUT LIMITATION, FOREIGN OR GOVERNMENTAL PLANS), ANY “PLAN” DESCRIBED IN SECTION 4975(e)(1) OF THE CODE, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN
ASSETS OF ANY OF THE FOREGOING BY REASON OF INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE 

CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING. 

5. Neither the Transferee nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred any
Certificate, any interest in any Certificate or any other similar security to any person in any manner, (b) solicited any offer to buy or accept a pledge, disposition or other transfer of any Certificate, any interest in any Certificate or any
other similar security from any person in any manner, (c) otherwise approached or negotiated with respect to any Certificate, any interest in any Certificate or any other similar security with any person in any manner, (d) made any general
solicitation by means of general advertising or in any other manner, or (e) taken any other action, that (in the case of any of the acts described in clauses (a) through (e) above) would constitute a distribution of any Certificate
under the Securities Act, would render the disposition of any Certificate a violation of Section 5 of the Securities Act or any state securities law or would require registration or qualification of any Certificate pursuant thereto. The
Transferee will not act, nor has it authorized or will it authorize any person to act, in any manner set forth in the foregoing sentence with respect to any Certificate. 

6. Check one of the following: 
  

	      	The Transferee is a U.S. Person (as defined below) and it has attached hereto an Internal Revenue Service (“IRS”) Form W-9 (or successor form). 

 

	      	*The Transferee is not a U.S. Person and under applicable law in effect on the date hereof, no taxes will be required to be withheld by the Trustee (or its agent) with respect to distributions to be made on the
Transferred Certificate. The Transferee has attached hereto [either (i) a duly executed IRS Form W-8BEN (or successor form), which identifies such Transferee as the beneficial owner of the Transferred Certificate and states that such Transferee
is not a U.S. Person or (ii)] two duly executed copies of IRS Form W-ECI (or successor form), which identify such Transferee as the beneficial owner of the Transferred Certificate and state that interest and original issue discount on the
Transferred Certificate and Permitted Investments is, or is expected to be, effectively connected with a U.S. trade or business. The Transferee agrees to provide to the Certificate Registrar updated [IRS Forms W-8BEN or] IRS Forms W-ECI, as the case
may be, any applicable successor IRS forms, or such other certifications as the Certificate Registrar may reasonably request, on or before the date that any such IRS form or certification expires or becomes obsolete, or promptly after the occurrence
of any event requiring a change in the most recent IRS form of certification furnished by it to the Certificate Registrar. 

 

	*	Does not apply to Class R Certificates. 

  
 E-1-7 

 For this purpose, “U.S. Person” means a citizen or resident of the United States, a corporation or
partnership (except to the extent provided in applicable Treasury Regulations) or other entity created or organized in, or under the laws of, the United States, any State or the District of Columbia, including any entity treated as a corporation or
partnership for federal income tax purposes, an estate whose income is subject to United States federal income tax regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the
administration of such trust, and one or more such U.S. Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code. 

 

			
	 Very truly yours,
  

		 	(Transferor)
		
	By:	 	  

		 	Name:                                     
             
		 	Title:                                     
               

  
 E-1-8 

 ANNEX 1 TO EXHIBIT E-1 

QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A 

[For Transferees Other Than Registered Investment Companies] 

The undersigned hereby certifies as follows to [name of Transferor] (the “Transferor”) and Wells Fargo Bank Minnesota, N.A.,
as Certificate Registrar, with respect to the mortgage pass-through certificate being transferred (the “Transferred Certificate”) as described in the Transferee Certificate to which this certification relates and to which this
certification is an Annex: 
 1. As indicated below, the undersigned is the chief financial officer, a person fulfilling an equivalent
function, or other executive officer of the entity purchasing the Transferred Certificate (the “Transferee”). 
 2. The
Transferee is a “qualified institutional buyer” as that term is defined in Rule 144A under the Securities Act of 1933, as amended (“Rule 144A”) because (i) the Transferee owned and/or invested on a
discretionary basis $ in securities (other than the excluded securities referred to below) as of the end of the Transferee’s most recent fiscal year (such amount being calculated in accordance with Rule 144A) [Transferee must own and/or invest
on a discretionary basis at least $100,000,000 in securities unless Transferee is a dealer, and, in that case, Transferee must own and/or invest on, a discretionary basis at least $10,000,000 in securities.] and (ii) the Transferee satisfies
the criteria in the category marked below. 
  

	 	      	Corporation, etc. The Transferee is a corporation (other than a bank, savings and loan association or similar institution), business trust, partnership, or any organization described in Section 501(c)(3) of the
Internal Revenue Code of 1986, as amended. 

  

	 	      	Bank. The Transferee (a) is a national bank or a banking institution organized under the laws of any State, U.S. territory or the District of Columbia, the business of which is substantially confined to banking and
is supervised by the State or territorial banking commission or similar official or is a foreign bank or equivalent institution, and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements,
a copy of which is attached hereto, as of a date not more than 16 months preceding the date of sale of the Certificate in the case of a U.S. bank, and not more than 18 months preceding such date of sale for a foreign bank or equivalent institution.

  

	 	      	 Savings and Loan. The Transferee (a) is a savings and loan association, building and loan association, cooperative bank, homestead association or
similar institution, which is supervised and examined by a State or Federal authority having supervision over any such institutions or is a foreign savings and loan association or equivalent institution and (b) has an audited net worth of at
least $25,000,000 as demonstrated in its latest annual financial 

  
 E-1-9 

	 	
statements, a copy of which is attached hereto, as of a date not more than 16 months preceding the date of sale of the Certificate in the case of a U.S. savings and loan association, and not more
than 18 months preceding such date of sale for a foreign savings and loan association or equivalent institution. 

  

	 	      	Broker-dealer. The Transferee is a dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934. 

  

	 	      	Insurance Company. The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject
to supervision by the insurance commissioner or a similar official or agency of a State, U.S. territory or the District of Columbia. 

  

	 	      	State or Local Plan. The Transferee is a plan established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its
employees. 

  

	 	      	ERISA Plan. The Transferee is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, as amended. 

 

	 	      	Investment Advisor. The Transferee is an investment advisor registered under the Investment Advisers Act of 1940. 

  

	 	      	Other. (Please supply a brief description of the entity and a cross-reference to the paragraph and subparagraph under subsection (a)(1) of Rule 144A pursuant to which it qualifies. Note that registered investment
companies should complete Annex 2 rather than this Annex 1.) 

 3. The term “securities” as used herein does
not include (i) securities of issuers that are affiliated with the Transferee, (ii) securities that are part of an unsold allotment to or subscription by the Transferee, if the Transferee is a dealer, (iii) bank deposit notes and
certificates of deposit, (iv) loan participations, (v) repurchase agreements, (vi) securities owned but subject to a repurchase agreement and (vii) currency, interest rate and commodity swaps. For purposes of determining the
aggregate amount of securities owned and/or invested on a discretionary basis by the Transferee, the Transferee did not include any of the securities referred to in this paragraph. 

4. For purposes of determining the aggregate amount of securities owned and/or invested on a discretionary basis by the Transferee, the
Transferee used the cost of such securities to the Transferee, unless the Transferee reports its securities holdings in its financial statements on the basis of their market value, and no current information with respect to the cost of those
securities has been published, in which case the securities were valued at market. Further, in determining such aggregate amount, the Transferee may have included securities owned by subsidiaries of the Transferee, but only if such subsidiaries are

  
 E-1-10 

 
consolidated with the Transferee in its financial statements prepared in accordance with generally accepted accounting principles and if the investments of such subsidiaries are managed under the
Transferee’s direction. However, such securities were not included if the Transferee is a majority-owned, consolidated subsidiary of another enterprise and the Transferee is not itself a reporting company under the Securities Exchange Act of
1934. 
 5. The Transferee acknowledges that it is familiar with Rule 144A and understands that the parties to which this certification is
being made are relying and will continue to rely on the statements made herein because one or more sales to the Transferee may be in reliance on Rule 144A. 
  

			
	                    
 Yes              No	  	Will the Transferee be purchasing the Transferred Certificate only for the Transferee’s own account?

 6. If the answer to the foregoing question is “no”, then in each case where the Transferee is
purchasing for an account other than its own, such account belongs to a third party that is itself a “qualified institutional buyer” within the meaning of Rule 144A, and the “qualified institutional buyer” status of such third
party has been established by the Transferee through one or more of the appropriate methods contemplated by Rule 144A. 
 7. The Transferee
will notify each of the parties to which this certification is made of any changes in the information and conclusions herein. Until such notice is given, the Transferee’s purchase of the Transferred Certificate will constitute a reaffirmation
of this certification as of the date of such purchase. In addition, if the Transferee is a bank or savings and loan as provided above, the Transferee agrees that it will furnish to such parties any updated annual financial statements that become
available on or before the date of such purchase, promptly after they become available. 
  

			
	Print Name of Transferee
		
		 	 
		 	(Transferor)

  

					
	  By:	 	  

		 	Name:	 	  

		 	Title:	 	  

		 	Date:	 	  

  
 E-1-11 

 ANNEX 2 TO EXHIBIT E-1 

QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A 

[For Transferees That Are Registered Investment Companies] 

The undersigned hereby certifies as follows to [name of Transferor] (the “Transferor”) and Wells Fargo Bank Minnesota, N.A.,
as Certificate Registrar, with respect to the mortgage pass-through certificate being transferred (the “Transferred Certificate”) as described in the Transferee Certificate to which this certification relates and to which this
certification is an Annex: 
 1. As indicated below, the undersigned is the chief financial officer, a person fulfilling an equivalent
function, or other executive officer of the entity purchasing the Transferred Certificate (the “Transferee”) or, if the Transferee is a “qualified institutional buyer” as that term is defined in Rule 144A under the
Securities Act of 1933 (“Rule.144A”) because the Transferee is part of a Family of Investment Companies (as defined below), is an executive officer of the investment adviser (the “Adviser”). 

2. The Transferee is a “qualified institutional buyer” as defined in Rule 144A because (i) the Transferee is an
investment company registered under the Investment Company Act of 1940, and (ii) as marked below, the Transferee alone owned and/or invested on a discretionary basis, or the Transferee’s Family of Investment Companies owned, at least
$100,000,000 in securities (other than the excluded securities referred to below) as of the end of the Transferee’s most recent fiscal year. For purposes of determining the amount of securities owned by the Transferee or the Transferee’s
Family of Investment Companies, the cost of such securities was used, unless the Transferee or any member of the Transferee’s Family of Investment Companies, as the case may be, reports its securities holdings in its financial statements on the
basis of their market value, and no current information with respect to the cost of those securities has been published, in which case the securities of such entity were valued at market. 

 

	 	      	The Transferee owned and/or invested on a discretionary basis $ in securities (other than the excluded securities referred to below) as of the end of the 

 

	 	      	Transferee’s most recent fiscal year (such amount being calculated in accordance with Rule 144A). 

  

	 	      	The Transferee is part of a Family of Investment Companies which owned in the aggregate $ in securities (other than the excluded securities referred to below) as of the end of the Transferee’s most recent fiscal
year (such amount being calculated in accordance with Rule 144A). 

 In the case of a Class PI or R Certificate, the
Transferee is not an “employee benefit plan” as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) (whether or not subject to ERISA, and including, without limitation,
foreign or governmental plans) or a “plan” described by Section 4975(e)(1) of the Code or any entity deemed to hold plan assets of the foregoing by reason of investment by an employee benefit plan or plan in such entity. 

  
 E-2-1 

 3. The term “Family of Investment Companies” as used herein means two or more
registered investment companies (or series thereof) that have the same investment adviser or investment advisers that are affiliated (by virtue of being majority owned subsidiaries of the same parent or because one investment adviser is a majority
owned subsidiary of the other). 
 4. The term “securities” as used herein does not include (i) securities of issuers
that are affiliated with the Transferee or are part of the Transferee’s Family of Investment Companies, (ii) bank deposit notes and certificates of deposit, (iii) loan participations, (iv) repurchase agreements,
(v) securities owned but subject to a repurchase agreement and (vi) currency, interest rate and commodity swaps. For purposes of determining the aggregate amount of securities owned and/or invested on a discretionary basis by the
Transferee, or owned by the Transferee’s Family of Investment Companies, the securities referred to in this paragraph were excluded. 

5. The Transferee is familiar with Rule 144A and understands that the parties to which this certification is being made are relying and will
continue to rely on the statements made herein because one or more sales to the Transferee will be in reliance on Rule 144A. 
  

			
	                     Yes              No
            	  	Will the Transferee be purchasing the
Transferred Certificate only for the
Transferee’s own account?

 6. If the answer to the foregoing question is “no”, then in each case where the Transferee is
purchasing for an account other than its own, such account belongs to a third party that is itself a “qualified institutional buyer” within the meaning of Rule 144A, and the “qualified institutional buyer” status of such third
party has been established by the Transferee through one or more of the appropriate methods contemplated by Rule 144A. 
 7. The undersigned
will notify the parties to which this certification is made of any changes in the information and conclusions herein. Until such notice, the Transferee’s purchase of the Transferred Certificate will constitute a reaffirmation of this
certification by the undersigned as of the date of such purchase. 
  

			
	Print Name of Transferee or Adviser
		
		 	 
		 	(Transferor)

  

					
	  By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  
 E-2-2 

 EXHIBIT G 

FORM OF INVESTMENT LETTER 
 [Date]

 Wells Fargo Bank Minnesota, N.A. 
 Wells Fargo Center 

Sixth and Marquette 
 Minneapolis, Minnesota 55479-0113 

	Attn:	Corporate Trust Services (CMBS), SRC Depositor Corporation, 

 Mortgage Pass-Through
Certificates, Series 2003-1 
  

	 	Re:	SRC Depositor Corporation, Mortgage Pass-Through Certificates, Series 2003-1 (the “Certificates”) 

Ladies and Gentlemen: 
 This letter is delivered
to you in connection with the transfer by
                                        
(the “Transferor”) to
                                        
(the “Transferee”) of a Certificate (the “Transferred Certificate”) having an initial [principal balance] as of November 24, 2003 (the “Closing Date”) of
$             evidencing a         % interest in the Class to which it belongs. The Certificates were issued pursuant to the Pooling
and Servicing Agreement (the “Pooling and Servicing Agreement”), dated as of November 24, 2003, among SRC Depositor Corporation, as depositor (the “Depositor”), Sears, Roebuck and Co., as master servicer,
special servicer and document custodian, and Wells Fargo Bank Minnesota, N.A., as trustee. All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Transferee hereby certifies,
represents and warrants to you, as Certificate Registrar, that: 
 1. The Transferee is acquiring the Transferred Certificate for its own
account and not with a view to or for distribution. 
 2. The Transferee understands that the Transferred Certificate have not and will not
be registered under the Securities Act, or registered or qualified under any applicable state securities laws, neither the Company or the Trustee is obligated to register or qualify the Transferred Certificate and the Transferred Certificate may not
be resold or transferred unless they are (A) registered pursuant to the Securities Act and registered and qualified pursuant to any applicable state securities laws or (B) sold or transferred in transactions which are exempt from such
registration and qualification and the Company and the Certificate Registrar has received: (1) if such transfer is purportedly being made in reliance upon Rule 144A under the Securities Act, a certificate from the transferor substantially in
the form attached as an exhibit to the Pooling and Servicing Agreement (which relates to sales to qualified institutional buyers in reliance on Rule 144A under the Securities Act) and a certificate from the prospective transferee substantially in
the form attached to the Pooling and Servicing Agreement, and (2) in all other cases, (I) a certificate from the transferor substantially in the 

  
 G-1 

 
form attached to the Pooling and Servicing Agreement and a certificate from the prospective transferee substantially in the form attached as an exhibit to the Pooling and Servicing Agreement, and
(II) unless the Company directs otherwise, an opinion of counsel satisfactory to the Company and the Trustee to the effect that such transfer may be made without registration under the Securities Act. 

3. The Transferee will not sell or otherwise transfer any Offered Certificate or interest therein except in compliance with the provisions of
Section 6.02 of the Pooling and Servicing Agreement. 
 4. Neither Transferee nor anyone acting on the Transferee’s behalf has
offered or sold any Offered Certificate or interest therein or any securities that are substantially similar to the Transferred Certificate by any form of general solicitation or general advertising which would require registration of the
Transferred Certificate under the Securities Act. In addition, each Transferee will not act, nor has it authorized or will it authorize any person to act, in any manner set forth in the prior sentence with respect to the Transferred Certificate.

 5. The Transferee has been furnished with all information regarding (A) the Company, (B) the Transferred Certificate,
(C) the nature, performance and servicing of the Mortgage Loans, (D) the Pooling and Servicing Agreement and (E) any credit enhancement mechanism associated with the Transferred Certificate, that it has requested. 

6. The Transferee has such knowledge and experience in financial and relevant business matters so as to be capable of evaluating the merits and
risks of purchasing the Certificates and has the financial ability to bear the risks of such purchase. In the normal course of the Transferee’s business, it invests in or purchases securities similar to the Certificates and it is able to bear
the economic risk of an investment in the Certificates for an indefinite period of time. 
 7. The Transferee, together with its own
professional advisors, has performed its own due diligence and independent review with respect to the Certificates and has undertaken such additional investigations and evaluations of the Certificates, including any tax, legal, accounting,
regulatory and other issues and any other matters, as it has deemed necessary or appropriate to its decision as to whether or not to purchase the Certificates. The Transferee acknowledges that none of the Depositor or Deutsche Bank Securities Inc.
has provided the Transferee with (i) any advice regarding tax or regulatory matters relating to the Certificates or (ii) any advice regarding the suitability of the Certificates for any other purposes. The Transferee’s decisions are
based solely upon its independent analysis, including the merits and risks involved in the Certificates. 
 8. The Transferee is a
“qualified institutional buyer” as such term is defined by Rule 144A under the Securities Act and an “accredited investor,” as such term is defined in Rule 501(a) of Regulation D under the Securities Act. 

  
 G-2 

 9. This Agreement has been duly authorized, executed and delivered by the Transferee and,
assuming the due authorization, execution and delivery by the Company, constitutes a valid, legal and binding obligation of the Transferee, enforceable against the Transferee in accordance with the terms hereof, subject to (i) applicable
bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally, (ii) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity
or at law, and (iii) public policy considerations underlying the securities laws to the extent that such public policy considerations limit the enforceability of the provisions of this Agreement that purport to provide indemnification of
securities law liabilities. 
  

			
	Name:	 	  

	Title:	 	  

  
 G-3 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto                                        
         . (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust evidenced by the within Certificate and hereby authorize(s)
the registration of transfer of such interest to assignee on the Certificate Register of the Trust. 
 I (we) further direct the Trustee to
issue a new Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Certificate to the following
address:                                       
                      . 

Dated:                         
             
  

	
	 /s/ Scott E. Huckins

	 Signature by or on behalf of Assignor
 Scott E.
Huckins

	
	  

	Signature Guaranteed

 Exhibit 13 

PBGC Mortgages with Executed Signature Pages 

[See Attached] 

 EXECUTION VERSION 

The aggregate maximum principal amount of indebtedness that may be secured hereby is $[        ]. [TO BE
COMPLETED WITH 200% OF CLOSING DATE VALUES FOR STATES IN WHICH THE MAXIMUM AMOUNT SECURED WILL NOT IMPACT MORTGAGE TAX PAYMENTS & 120% OF APPRAISED VALUE FOR STATES WITH MORTGAGE TAXES (STILL CONSIDERING APPROPRIATE NUMBER).] 

 

			
	 This Mortgage was prepared by and after
	 	
	 recording return to:
	 	
		
	                     ,
Esq.
	 	
	 Pension Benefit Guaranty Corporation
	 	
	 1200 K Street, NW
	 	
	 Washington, DC 20005
	 	

 Space above this line for recorder’s use 

MORTGAGE, ASSIGNMENT OF LEASES 

AND RENTS, SECURITY AGREEMENT 
 AND
FIXTURE FILING 
 THIS MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this “Mortgage”),
dated as of             , 20161 by SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust, acting on behalf of the
applicable SUBI Portfolio, having an address at c/o U.S. Bank Trust National Association, 400 N. Michigan Avenue, 2nd Floor, Chicago, Illinois 60611 (the “Mortgagor”), in favor of the PENSION BENEFIT GUARANTY CORPORATION, a wholly
owned United States government corporation having an address at 1200 K Street, N.W., Suite 300, Washington, DC 20005-4026 (together with its successors and assigns, “Mortgagee”). 

 

	1	NTD: To be dated and effective as of the first date on which a Springing Lien Event occurs and recorded on or after that date; this mechanism will be set forth in the
document evidencing the escrow arrangement with the Custodian. Nothing in this Mortgage shall be effective until the occurrence of a Springing Lien Event. This Footnote will be deleted from the final document prior to same becoming effective.

 WITNESSETH: 

WHEREAS, Sears Holdings Corporation, a Delaware corporation (the “Company”) is the plan sponsor (as such term is defined in
Section 3(16)(B) of the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1301 – 1461 (2012, Supp. II 2014) (as amended from time to time, together with the regulations thereunder, “ERISA”)) of the Sears
Holdings Pension Plan, as amended and restated effective January 1, 2014 (the “Pension Plan”); 
 WHEREAS, pursuant to that
certain Pension Plan Protection and Forbearance Agreement, dated as of March 17, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”), by and among Company, certain of Company’s
Subsidiaries including Mortgagor (such Subsidiaries, collectively with Mortgagor, the “Sears Parties”), and Mortgagee, Sears Parties have agreed to provide Mortgagee and the Pension Plan with certain enhanced protections in exchange
for Mortgagee’s agreement to forbear from initiating termination proceedings with respect to the Pension Plan pursuant to ERISA Section 4042 for the term and under the conditions provided in the PPPFA; 

WHEREAS, Mortgagor will realize substantial direct and indirect benefits as a result of the arrangements memorialized in the PPPFA; 

WHEREAS, it is a condition to Mortgagee entering into the PPPFA that Mortgagor execute and deliver this Mortgage; 

NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, to secure for Mortgagee’s benefit any
and all claims (whether or not reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, or undisputed) of Mortgagee for the “unfunded benefit liabilities” together with interest, of the Pension Plan
under ERISA Section 4062(b)(1)(A) against Company, Mortgagor and each of Company’s other Subsidiaries (the “Secured Obligations”), Mortgagor has executed and delivered this Mortgage. 

GRANTING CLAUSES 
 Mortgagor has
created a security interest in favor of Mortgagee in, and has mortgaged, granted, conveyed, assigned, bargained, sold, pledged, given, transferred and set over, and by these presents does hereby create a security interest in favor of Mortgagee in,
and does hereby mortgage, grant, convey, assign, bargain, sell, pledge, give, transfer and set over unto Mortgagee, the property described in the following Granting Clauses, whether now owned or hereafter acquired, subject only to Permitted Liens.

 Granting Clause First 

The entire right, title and interest of Mortgagor in and to the land described in Schedule A [NTD: TO BE ONE PROPERTY PER MORTGAGE,
UNLESS THERE IS A COST SAVINGS BENEFIT TO BUNDLING THE MORTGAGES IN A PARTICULAR STATE.] attached hereto (the “Land”), together with (a) all right, title and interest of Mortgagor (if any) in and to all buildings, structures and
other improvements, now standing or at any time hereafter constructed or placed upon the Land, including, without limitation, all right, title and 

  
 -2- 

 
interest of Mortgagor (if any) in and to all fixtures of every kind and nature on the Land or in any such building, structure or other improvements (said buildings, structures, other improvements
and fixtures being herein collectively called the “Improvements”), (b) all right, title and interest of Mortgagor in and to all and singular the tenements, hereditaments, easements, rights of way, rights, privileges and
appurtenances in and to the Land, belonging or in any way appertaining thereto, including, without limitation, all right, title and interest of Mortgagor in, to and under any streets, ways, alleys, vaults, gores or strips of land adjoining the Land,
and (c) all rents, income, revenues, issues, awards, proceeds and profits from and in respect of the property described in this Granting Clause First which are, subject to the provisions of Granting Clause Second, hereby specifically assigned,
transferred and set over to Mortgagee, it being the intention of the parties hereto that, so far as may be permitted by law, all property of the character hereinabove described which is now owned or held or is hereafter acquired by Mortgagor and is
affixed, attached and annexed to the Land shall be and remain or become and constitute a portion of the Mortgaged Property (as defined in the parenthetical immediately following Granting Clause Eighth) and the security covered by and subject to the
lien hereof. The Land together with the Improvements and the other property described in this Granting Clause First relating thereto are herein collectively called the “Property”. 

Granting Clause Second 

Mortgagor’s interest in the Master Lease as supplemented by the Site Lease with respect to the Property, as such Site Lease relates to
the Property, including the right to all extended terms and all extensions and renewals of the terms thereof, together with all the right, title and interest of Mortgagor under the Master Lease and such Site Lease, including, without limitation, the
present and continuing right to make claim for, collect, receive and receipt for any and all of the rents, income, revenues, issues, awards, proceeds and profits and other sums of money payable or receivable thereunder, the right to accept or reject
any offers made pursuant to the Master Lease to purchase any interest in the Property, to bring actions and proceedings under the Master Lease or for the enforcement thereof and to do anything which Mortgagor is or may become entitled to do under
the Master Lease. 
 Granting Clause Third 

All of Mortgagor’s right, title and interest in and to the real estate fixtures of every kind and nature whatsoever, and all
appurtenances and additions thereto and substitutions or replacements thereof (together with, in each case, attachments, components, parts and accessories) currently owned or subsequently acquired by Mortgagor and now or subsequently attached to, or
contained in or used or usable in any way in connection with any operation or letting of, the Property, but specifically excluding trade fixtures and other personal property of any tenant on the Property (except such exclusion, the
“Fixtures”; such excluded property, the “Tenant Personalty”). 
 Granting Clause Fourth 

All of the equipment and apparatus of every kind and nature whatsoever, and all appurtenances and additions thereto and substitutions or
replacements thereof (together with, in 

  
 -3- 

 
each case, attachments, components, parts and accessories), in each case currently owned or subsequently acquired by Mortgagor and located on the Property, including but without limiting the
generality of the foregoing, all storm doors and windows, heating, electrical, and mechanical equipment, lighting, switchboards, plumbing, ventilating, air conditioning and air-cooling apparatus, refrigerating and incinerating equipment, escalators,
elevators, building cleaning systems (including window cleaning apparatus), communication systems (including satellite dishes and antennae), sprinkler systems and other fire prevention and extinguishing apparatus and materials, security systems,
motors, engines, machinery, pipes, pumps, tanks, conduits and fittings of every kind and description, but specifically excluding Tenant Personalty (except such exclusion, the “Equipment”). 

Granting Clause Fifth 

All of Mortgagor’s right, title and interest in and to substitutes and replacements of, and all additions and improvements to, the
Improvements, the Fixtures and the Equipment, subsequently acquired by Mortgagor or constructed, assembled or placed by Mortgagor on the Land, immediately upon such acquisition, release, construction, assembling or placement, including, without
limitation, any and all building materials whether stored at the Property or offsite, and, in each such case, without any further mortgage, conveyance, assignment or other act by Mortgagor. 

Granting Clause Sixth 

All estate, right, title and interest and other claim or demand that Mortgagor now has or may hereafter acquire with respect to any damage to
the Property (including the Improvements), the Fixtures or the Equipment and any and all proceeds of insurance in effect with respect to the Improvements, the Fixtures and the Equipment, and any and all awards made for the taking by eminent domain,
or by any proceeding or purchase in lieu thereof, of the Property (including the Improvements) or the Fixtures, including without limitation any awards resulting from a change of grade of streets or as the result of any other damage to the Property
(including the Improvements) or the Fixtures for which compensation shall be given by any governmental authority subject to the provisions of the Master Lease with respect to the collection and application of the same. 

Granting Clause Seventh 

All estate, right, title and interest of Mortgagor in and to all rights, royalties and profits in connection with all minerals, oil and gas
and other hydrocarbon substances on or in the Property, development rights or credits, air rights, water, water rights (whether riparian, appropriative or otherwise and whether or not appurtenant) and water stock. 

Granting Clause Eighth 

All renewals, substitutions, improvements, accessions, attachments, additions, replacements and proceeds, both cash and noncash, of each of
the foregoing and all conversions of the security constituted thereby. 

  
 -4- 

 (All of the foregoing property and rights and interests now owned or held or subsequently
acquired by Mortgagor and described in the foregoing Granting Clauses with respect to the Property are collectively referred to as the “Mortgaged Property”.) 

TO HAVE AND TO HOLD the Mortgaged Property and the rights and privileges hereby mortgaged unto Mortgagee, its successors and assigns, forever,
upon the terms and conditions herein set forth, until the Secured Obligations are satisfied or the Mortgaged Property is released in whole or in part pursuant to Section 7.07, Mortgagor hereby expressly waiving and releasing any and all
right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the state or other jurisdiction in which the Mortgaged Property is located providing for the exemption of homesteads from sale on execution or
otherwise. 
 ARTICLE I 

DEFINITIONS 
 Section 1.01.
Definitions. Unless the context otherwise specifies or requires, the following terms shall have the meanings herein specified, such definitions (and all other definitions herein) to be applicable equally to the singular and plural forms of
such terms. Each capitalized term used herein but not otherwise defined herein shall have the meaning specified in the PPPFA. 

“Default Rate” shall be the rate prescribed by 29 C.F.R. § 4062.7(c), compounded daily. 

“First Mortgage” shall mean the Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing made by
Mortgagor in favor of Wells Fargo Bank Minnesota, N.A. dated as of [insert appropriate date] and recorded with the [insert appropriate recording office] on
            , 20[    ] as [insert recording information]. 

“Master Lease” shall mean the Master Lease Agreement dated as of November 24, 2003 between Mortgagor, as lessor, and other
parties as lessors of other Sites (as defined therein), and Sears, Roebuck and Co., as lessee, as such Master Lease Agreement may be modified, supplemented, extended or renewed. 

“Site Lease” shall mean any supplement to the Master Lease with respect to the Property duly executed and delivered by
Mortgagor and Lessee (as defined in the Master Lease) pursuant to, and in accordance with, Section 2 of the Master Lease. 

  
 -5- 

 ARTICLE II 

REPRESENTATIONS AND WARRANTIES 

Mortgagor hereby represents and warrants to Mortgagee as follows: 

Section 2.01. Title, Legal Status and Authority. Mortgagor (a) is seised of the Land and the Improvements in fee simple and has good
and marketable title to the Mortgaged Property, free and clear of all liens, charges, encumbrances and security interests, except such liens, charges encumbrances and security interests expressly permitted under the PPPFA (the “Permitted
Liens”); (b) will forever warrant and defend its title to the Mortgaged Property and the validity, enforceability, and priority of the lien and security interest created by this Mortgage against the claims of all persons, subject to
Permitted Liens; (c) is a Delaware [statutory trust/limited partnership/corporation] duly organized, validly existing, and in good standing and qualified to transact business under the laws of the state of Delaware and the state where the Mortgaged
Property is located; and (d) has all necessary approvals, governmental and otherwise, and full power and authority to own its properties (including the Mortgaged Property) and carry on its business. 

Section 2.02. Validity of Documents. The execution, delivery and performance of this Mortgage, the PPPFA and the other Transaction
Documents to which Mortgagor is a party (a) are within the power of Mortgagor; (b) have been authorized by all requisite action; (c) have received all necessary approvals and consents; (d) will not violate, conflict with, breach, or constitute (with
notice or lapse of time, or both) a default under (i) any law, order or judgment of any court, governmental authority, or the governing instrument of Mortgagor or (ii) to Mortgagor’s knowledge, any material indenture, material agreement, or
other material instrument to which Mortgagor is a party or by which it or any of its property is bound or affected; and (e) will not require any authorization or license from, or any filing with, any governmental or other body (except for the
recordation of this Mortgage and/or such as has been obtained by Mortgagor). This Mortgage, the PPPFA and the other Transaction Documents to which Mortgagor is a party constitute legal, valid, and binding obligations of Mortgagor. 

Section 2.03. Litigation. There is no action, suit, or proceeding, judicial, administrative, or otherwise (including any condemnation
or similar proceeding), pending or, to the best knowledge of Mortgagor, threatened or contemplated against, or affecting, Mortgagor or the Mortgaged Property which would have a material adverse effect on either the Mortgaged Property or
Mortgagor’s ability to perform the Secured Obligations. 
 Section 2.04. Representations and Warranties Relating to Master Lease,
Site Lease and Other Matters. That (a) Mortgagor is the absolute owner of the landlord’s interest in the Master Lease and Site Lease with respect to the Mortgaged Property; (b) Mortgagor has the right, power and authority to assign,
transfer, and set over all of its right, title and interest in, to and under the Master Lease and Site Lease with respect to the Mortgaged Property and no other Person has any right, title or interest therein; (c) the Master Lease and Site Lease
with respect to the Mortgaged Property are valid and in full force and effect and have not been modified, amended or terminated, nor have any of the terms and conditions of the Master Lease and Site Lease with respect to the Mortgaged Property been
waived, except as expressly permitted by the PPPFA; (d) there are no outstanding assignments or pledges of the Master Lease and Site Lease with respect to the Mortgaged Property (except Permitted Liens); (e) there are no existing defaults or any
state of facts which, with the giving of notice and/or passage of time, would constitute a default under the Master Lease and Site Lease with respect to the Mortgaged 

  
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Property by Mortgagor; (f) Lessee has no defense, set-off or counterclaim against Mortgagor; and (g) Lessee is in possession of its leased premises and paying rent and other charges to the extent
required by the Master Lease and Site Lease with respect to the Mortgaged Property. 
 ARTICLE III 

COVENANTS 
 Mortgagor covenants
and agrees with Mortgagee as follows: 
 Section 3.01. Payment of Secured Obligations. Mortgagor shall pay and perform the Secured
Obligations in accordance with the terms of the PPPFA, the other Transaction Documents, and applicable law (including ERISA). 
 Section
3.02. Further Assurances. Mortgagor shall execute, acknowledge and deliver, from time to time, such further instruments as Mortgagee may reasonably require to accomplish the purposes of this Mortgage. 

Section 3.03. Taxes and Other Charges. 

(a) Payment of Assessments. Mortgagor shall pay or cause to be paid, when due (subject to customary rights to contest or protest the same in
accordance with applicable law) all taxes, liens, assessments, utility charges (public or private and including sewer fees), ground rents, maintenance charges, dues, fines, impositions, and public and other charges of any character (including
penalties and interest) assessed against, or which could become a lien against, the Mortgaged Property (the “Assessments”) and in all events prior to the date any fine, penalty, interest or charge for nonpayment may be imposed. 

(b) Documentary Stamps and Other Charges. Mortgagor shall pay all taxes, assessments, charges, expenses, costs and fees (including
registration and recording fees and revenue, transfer, mortgage, recordation, stamp, intangible, and any similar taxes) (collectively, the “Transaction Taxes”) required in connection with the making and/or recording of this
Mortgage. If Mortgagor fails to pay the Transaction Taxes on demand, then Mortgagee may (but is not obligated to) pay these, and Mortgagor shall reimburse Mortgagee on demand for any amount so paid with interest at the Default Rate. 

Section 3.04. Defense of Title, Litigation, and Rights. Subject to any Permitted Liens and except as may be expressly permitted under
the PPPFA, Mortgagor shall forever warrant, defend and preserve Mortgagor’s title to the Mortgaged Property, the validity, enforceability and priority of this Mortgage and the lien or security interest created hereby, and any rights of
Mortgagee under this Mortgage, the PPPFA or the other Transaction Documents against the claims of all Persons, and shall promptly notify Mortgagee of such actions. Mortgagee (whether or not named as a party to such proceedings) is authorized and
empowered (but shall not be obligated) to take such additional steps as it may reasonably deem necessary or proper for the defense of any such proceeding or the protection of the lien, security interest, validity, enforceability, or priority of this
Mortgage, the PPPFA or the other Transaction 

  
 -7- 

 
Documents, title to the Mortgaged Property, or any rights of Mortgagee under this Mortgage, the PPPFA or the other Transaction Documents, including the employment of counsel, the prosecution
and/or defense of litigation, the compromise, release, or discharge of such adverse claims, the purchase of any tax title, the removal of any such liens and security interests, and any other actions Mortgagee reasonably deems necessary to protect
its interests. Mortgagor authorizes Mortgagee to take any actions required to be taken by Mortgagor, or permitted to be taken by Mortgagee, in this Mortgage, the PPPFA or the other Transaction Documents in the name and on behalf of Mortgagor.
Mortgagor shall reimburse Mortgagee on demand for all expenses (including attorneys’ fees) incurred by it in connection with the foregoing and Mortgagee’s exercise of its rights under this Mortgage, the PPPFA or the other Transaction
Documents. All such expenses of Mortgagee, until reimbursed by Mortgagor, shall be part of the Secured Obligations, bear interest from the date of demand at the Default Rate, and shall be secured by this Mortgage. 

Section 3.05. Compliance with Laws and Operation and Maintenance of Mortgaged Property. 

(a) Repair and Maintenance. Mortgagor shall operate and maintain the Mortgaged Property in good order, repair, and operating condition
to a standard not less than that existing as of the date hereof, subject to ordinary wear and tear. Mortgagor shall promptly make all repairs, replacements, additions, and improvements necessary to ensure that the Mortgaged Property shall not be
materially diminished or impaired. Mortgagor shall not cause or allow any of the Mortgaged Property to be materially misused or wasted, or to materially deteriorate, and Mortgagor shall not abandon the Mortgaged Property. No new building, structure,
or other improvements shall be constructed on the Land nor shall any material part of the Improvements be removed, demolished or structurally or materially altered, without Mortgagee’s prior written consent (such consent not to be unreasonably
withheld or delayed). 
 (b) Replacement of Mortgaged Property. Mortgagor shall replace all worn out or obsolete fixtures and
personal property in a commercially reasonable manner with comparable fixtures or personal property in the ordinary course of business. Mortgagor shall not, without Mortgagee’s prior written consent, remove any personal property covered by this
Mortgage unless the same is replaced by Mortgagor in a commercially reasonable manner with a comparable article owned by Mortgagor free and clear of any lien or security interest (other than the Permitted Liens and those created by this Mortgage).

 (c) Compliance with Laws. Mortgagor shall comply with and shall cause the Mortgaged Property to be maintained, used, and operated
in compliance with all (i) present and future laws, ordinances, regulations, rules, orders and requirements (including zoning and building codes) of any governmental or quasi-governmental authority or agency applicable to Mortgagor or the Mortgaged
Property (collectively, the “Laws”); (ii) orders, rules, and regulations of any regulatory, licensing, accrediting, insurance underwriting or rating organization, or other body exercising similar functions; (iii) duties or
obligations of any kind imposed under any REMIC Existing Liens, any other liens or encumbrances encumbering the Property or by law, covenant, condition, agreement, or easement, public or private; and (iv) policies of insurance at any time in force
with respect to the Mortgaged Property. If proceedings 

  
 -8- 

 
are initiated or Mortgagor receives notice that Mortgagor or the Mortgaged Property is not in compliance with any of the foregoing, then Mortgagor shall promptly send Mortgagee notice and a copy
of the proceeding or violation notice. Mortgagor shall maintain all necessary (A) certificates, licenses, and other approvals, governmental and otherwise, for the operation of the Mortgaged Property and the conduct of its business and (B) zoning,
building code, land use, environmental and other similar permits or approvals, in full force and effect. 
 (d) Zoning and Title
Matters. Except as expressly permitted under the PPPFA, Mortgagor shall not, without Mortgagee’s prior written consent, (i) initiate or support any zoning reclassification of the Mortgaged Property or variance under existing zoning
ordinances; (ii) modify or supplement any of the Permitted Liens; (iii) impose any restrictive covenants or encumbrances upon the Mortgaged Property; (iv) execute or file any subdivision plat affecting the Mortgaged Property; (v) consent to the
annexation of the Mortgaged Property to any municipality; (vi) permit the Mortgaged Property to be used by the public or any Person in a way that might make a claim of adverse possession or any implied dedication or easement possible, or (vii) fail
to comply with the terms of any REMIC Existing Liens or any other liens or encumbrances encumbering the Mortgaged Property beyond any applicable notice, cure or grace period. 

Section 3.06. Insurance. 

(a) Mortgaged Property and Time Element Insurance. Mortgagor shall keep the Mortgaged Property insured for the benefit of Mortgagor and
Mortgagee (with Mortgagee named as mortgagee) by (i) a special form property insurance policy with an agreed amount endorsement for Full Replacement Cost (defined below) without any coinsurance provisions or penalties, or the broadest form of
coverage available, in an amount sufficient to prevent Mortgagee from ever becoming a coinsurer under the policy or Laws; (ii) a policy or endorsement insuring against claims applicable to the presence of mold; (iii) a policy or endorsement insuring
against damage by flood if the Mortgaged Property is located in a Special Flood Hazard Area identified by the Federal Emergency Management Agency or any successor or related government agency as a 100 year flood plain currently classified as Flood
Insurance Rate Map Zones “A”, “AO”, “AH”, “A1-A30”, “AE”, “A99”, “V”, “V1-V30”, and “VE” in an amount equal to Full Replacement Cost; (iv) a policy or
endorsement covering against damage or loss from (A) sprinkler system leakage and (B) boilers, boiler tanks, HVAC systems, heating and air-conditioning equipment, pressure vessels, auxiliary piping, and similar apparatus, in the amount reasonably
required by Mortgagee; (v) during the period of any construction, repair, restoration, or replacement of the Mortgaged Property, a standard builder’s risk policy with extended coverage in an amount at least equal to the Full Replacement Cost of
such Mortgaged Property, and worker’s compensation, in statutory amounts; and (vi) a policy or endorsement covering against damage or loss by earthquake and other natural phenomena in the amounts reasonably required by Mortgagee. “Full
Replacement Cost” shall mean the one hundred percent (100%) replacement cost of the Mortgaged Property, without allowance for depreciation and exclusive of the cost of excavations, foundations, footings, and value of Land, and shall be
subject to verification by Mortgagee. 

  
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 (b) Liability and Other Insurance. Mortgagor shall maintain commercial general liability
insurance with per occurrence limits of $1,000,000, a products/completed operations limit of $2,000,000, and a general aggregate limit of $2,000,000, with an excess/umbrella liability policy of not less than $10,000,000 per occurrence covering
Mortgagor, with Mortgagee named as an additional insured, against claims for bodily injury or death or property damage occurring in, upon, or about the Mortgaged Property or any street, drive, sidewalk, curb, or passageway adjacent thereto. In
addition to any other requirements, such commercial general liability and excess/umbrella liability insurance shall provide insurance against claims applicable to the presence of mold, or such coverages shall be provided by separate policies or
endorsements. The insurance policies shall also include operations and blanket contractual liability coverage. Upon request, Mortgagor shall also carry additional insurance or additional amounts of insurance covering Mortgagor or the Mortgaged
Property as Mortgagee may reasonably require so long as such additional insurance or additional amounts of insurance are obtainable using Mortgagor’s existing procurement program. 

(c) Form of Policy. 

(i) Mortgagor may self-insure up to $15,000,000 of the insurance required under Section 3.06(a) by maintaining (or causing
Company or a subsidiary of Company to maintain) a program of insurance. In the event Mortgagor elects to self-insure (or cause Company or a subsidiary of Company to insure) for any such risk, it shall endeavor to notify Mortgagee of such election.
Upon request by Mortgagee, Mortgagor shall promptly disclose to Mortgagee whether or not Mortgagor self-insures (or causes Company or a subsidiary of Company to insure) any of its insurance risks under this Mortgage. In any event, Mortgagor shall
maintain (or cause Company or a subsidiary of Company to maintain) the blanket insurance coverage evidenced by that certain ACORD certificate delivered by or on behalf of Mortgagor to Mortgagee on or around the date of this Mortgage. 

(ii) The insurance required under Section 3.06(b) shall be fully paid for, non-assessable, with a deductible/retention not to
exceed $5,000,000.00, and the policies shall contain such provisions, endorsements, and expiration dates as Mortgagee may reasonably require. 

(iii) The policies shall be issued by insurance companies authorized to do business in the state in which the Mortgaged
Property is located, approved by Mortgagee, and must have and maintain a current financial strength rating of “A-, X” (or higher) from A.M. Best or equivalent (or, if a rating by A.M. Best is no longer available, then a similar rating from
a similar or successor service). In addition, all policies shall (i) include a standard mortgagee clause, without contribution, in the name of Mortgagee, and (ii) include a waiver of subrogation clause substantially equivalent to the following:
“The Company may require from the Insured an assignment of all rights of recovery against any party for loss to the extent that payment therefor is made by the Company, but the Company shall not acquire any rights of recovery which the Insured
has expressly waived prior to 

  
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loss, nor shall such waiver affect the Insured’s rights under this policy.” In addition, Mortgagor shall use commercially reasonable good faith efforts to cause all policies to provide
that they shall not be canceled, amended, or materially altered (including reduction in the scope or limits of coverage) without at least thirty (30) days’ prior written notice to Mortgagee except in the event of cancellation for non-payment of
premium, in which case only ten (10) days’ prior written notice will be given to Mortgagee. If, despite such commercially reasonable good faith efforts, Mortgagor shall be unable to cause any policy to provide for such notice of cancellation,
then with respect to any such policy, Mortgagor shall provide at least thirty (30) days’ prior written notice to Mortgagee in the event that such policy is to be canceled, amended or materially altered (including reduction in the scope or
limits of coverage) except in the event of cancellation for non-payment of premium, in which case only ten (10) days’ prior written notice will be given to Mortgagee. Notwithstanding the foregoing, this Section 3.06(c)(iii) shall not apply to
Mortgagor’s self-insurance, if Mortgagor has elected to so self-insure. 
 (d) Original Policies. Upon written request from
Mortgagee, Mortgagor shall deliver to Mortgagee evidence of required insurance under this Section 3.06 in form and content reasonably acceptable to Mortgagee. Without limiting Mortgagee’s other rights with respect to the foregoing obligations,
if, within fifteen (15) days prior to the expiration of the current applicable policy, Mortgagee has not received the evidence required under this Section 3.06(d) in form and substance acceptable to Mortgagee (as being in compliance with the terms
of this Mortgage), then Mortgagee may, but shall not be obligated to, (i) retain a commercial property insurance consultant to assist Mortgagee in obtaining adequate evidence that the required insurance coverage is in effect, in which event
Mortgagor shall (A) cooperate with such consultant in confirming that the required insurance coverage is in effect, and (B) pay all of the costs and expenses of such consultant, and/or (ii) purchase forced placed insurance coverage sufficient to
provide insurance satisfying the coverage requirements under the terms of this Mortgage at Mortgagor’s sole expense (which expense will be in addition to and may be more than the cost of insurance that Mortgagor may be able to obtain on its
own) to cover Mortgagee’s interest in the Mortgaged Property, which insurance may, but need not, protect Mortgagor’s interest. Notwithstanding the foregoing, if Mortgagor has elected to self-insure as permitted in this Section, this
Section 3.06(d) shall not apply to any such self-insurance. 
 (e) General Provisions. Subject to Mortgagor’s right to
self-insure through the Company, Mortgagor shall not carry separate or additional insurance concurrent in form or contributing in the event of loss with that required under this Section 3.06 unless endorsed in favor of Mortgagee as per this Section
3.06 and approved by Mortgagee in all respects. In the event of foreclosure of the Mortgage or other transfer of title or assignment of the Mortgaged Property in extinguishment, in whole or in part, of the Secured Obligations, all right, title, and
interest of Mortgagor in and to all policies of insurance then in force regarding the Mortgaged Property and all proceeds payable thereunder and unearned premiums thereon shall immediately vest in the purchaser or other transferee of the Mortgaged
Property. Mortgagee shall comply with all insurance requirements and shall not cause or permit any condition to exist which would 

  
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be prohibited by any insurance requirements or would invalidate the insurance coverage on the Mortgaged Property. Mortgagor shall not be exempt from any of the requirements set forth in this
Section 3.06 to the extent that a tenant has agreed to provide the required insurance or a portion thereof pursuant to the terms and provisions of its respective lease. If any insurance being carried by a tenant (rather than Mortgagor) is being
utilized to satisfy the requirements of this Section 3.06 on the Mortgaged Property, then (i) such insurance must fully comply with this Section 3.06, and (ii) Mortgagor shall obtain from any such tenant(s) and provide to Mortgagee documentation
sufficient to satisfy the requirements of Section 3.06(d) above. Mortgagee has no duty or obligation to contact any tenant(s) regarding proof of insurance for the Mortgaged Property. Notwithstanding the foregoing, if Mortgagor has elected to
self-insure as permitted in this Section, this Section 3.06(e) shall not apply to any such self-insurance. 
 (f) Waiver of
Subrogation. A waiver of subrogation shall be obtained by Mortgagor from its insurers and, consequently, Mortgagor for itself, and on behalf of its insurers, hereby waives and releases any and all right to claim or recover against Mortgagee, its
officers, employees, agents and representatives, for any loss of or damage to Mortgagor, other Persons, the Mortgaged Property, Mortgagor’s property or the property of other Persons from any cause required to be insured against by the
provisions of this Mortgage or otherwise insured against by Mortgagor. 
 Section 3.07. Casualty and Condemnation. 

(a) If any damage to, loss, or destruction of the Mortgaged Property occurs (any “Damage”) or if any threatened or instituted
proceedings for the condemnation or taking by eminent domain of the Mortgaged Property occurs (any “Condemnation”), then (i) Mortgagor shall notify Mortgagee within ten (10) days after the occurrence of such Damage or threatened or
instituted Condemnation (provided the cost to repair any such Damage or the estimated value of the property to be taken in any Condemnation shall exceed $100,000) and, in any event, shall take all reasonably necessary steps to preserve any undamaged
or unaffected part of the Mortgaged Property and (ii) Mortgagor shall promptly commence and diligently pursue to completion the restoration, replacement, and rebuilding of the Mortgaged Property as nearly as possible to its value and condition
immediately prior to the Damage or Condemnation in accordance with plans and specifications approved by Mortgagee (the “Restoration”). Mortgagor shall comply with other reasonable requirements established by Mortgagee to preserve
the security under this Mortgage. If any Damage occurs and some or all of it is covered by insurance, then (1) Mortgagee may, but is not obligated to, make proof of loss if not made promptly by Mortgagor, and Mortgagee is authorized and empowered by
Mortgagor to settle, adjust, or compromise any claims for the Damage; and (2) each insurance company concerned is authorized and directed to make payment directly to Mortgagee for the Damage. In the event of a threatened or instituted Condemnation,
Mortgagor shall, at its sole expense, (x) diligently prosecute the proceedings, (y) promptly deliver to Mortgagee copies of all papers served in connection therewith, and (z) consult and cooperate with Mortgagee in the handling of the proceedings.
No settlement of the proceedings may be made by Mortgagor without Mortgagee’s prior written consent. Mortgagee may participate in the proceedings (but shall not be obligated to do so), and Mortgagor shall sign and deliver all instruments
reasonably requested by 

  
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Mortgagee to permit this participation. All condemnation awards, judgments, decrees, or proceeds of sale in lieu of condemnation (the “Award”) are assigned, and shall be paid, to
Mortgagee. Mortgagor authorizes Mortgagee to collect and receive them, to give receipts for them, to accept them in the amount received without question or appeal, and/or to appeal any judgment, decree, or award. Mortgagor shall promptly sign and
deliver all instruments requested by Mortgagee to permit these actions. 
 (b) In the event of Damage or Condemnation, Mortgagee may apply
the insurance proceeds or the Award, as the case may be, in any order it determines (i) to reimburse Mortgagee for all costs related to collection of the proceeds or Award and (ii) to (A) payment of all or part of the Secured Obligations, whether or
not then due and payable, in the order determined by Mortgagee (provided that if any Secured Obligations remain outstanding after this payment, then the unpaid Secured Obligations shall continue in full force and effect, and Mortgagor shall not be
excused in the payment thereof), (B) the cure of any default under the Transaction Documents, or (C) a Restoration. If Mortgagor receives any insurance proceeds for the Damage or an Award, then such receipt shall be in trust for Mortgagee’s
sole benefit and Mortgagor shall promptly deliver such proceeds to Mortgagee. 
 (c) The provisions of this Section 3.07 are subject
and subordinate to any provisions in the documents evidencing and securing the debt secured by the First Mortgage related to application of casualty proceeds and condemnation awards. 

Section 3.08. Liens and Liabilities. Mortgagor shall pay when due all claims and demands of mechanics, materialmen, laborers and others
for any work performed or materials delivered for the Mortgaged Property or the Improvements (collectively, “Mortgaged Property Payables”); provided, however, that Mortgagor shall have the right to contest in good faith any such
Mortgaged Property Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Mortgagee and provided that neither the Mortgaged Property nor any interest therein would be in any danger of sale, loss or forfeiture
as a result of such proceeding or contest. If Mortgagor fails to immediately discharge or provide security against any such Mortgaged Property Payables in violation of the aforesaid, then Mortgagee may do so, and any and all expenses incurred by
Mortgagee, together with interest thereon at the Default Rate from the date incurred by Mortgagee until actually paid by Mortgagor, shall be immediately paid by Mortgagor on demand and shall be secured by this Mortgage and by all other Transaction
Documents securing all or any part of the Secured Obligations. Mortgagor shall, at its sole expense, do everything necessary to preserve the lien and security interest created by this Mortgage. 

Section 3.09. Environmental Covenants. Mortgagor covenants and agrees that: (i) all use and operation of the Mortgaged Property shall
be in compliance with all Environmental Laws and required permits; (ii) there shall be no Releases of Hazardous Materials affecting the Mortgaged Property in violation of Environmental Laws; (iii) there shall be no Hazardous Materials affecting the
Mortgaged Property except for (A) routine office, cleaning, janitorial and other materials and supplies necessary to operate the Mortgaged Property for its current use or otherwise customarily found on property substantially similar in use to the
Mortgaged Property and (B) Hazardous Materials that are (1) in compliance with Environmental 

  
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Laws, (2) have all required permits, and (3) are in only the amounts reasonably necessary to operate the Property for its current use or otherwise customarily found on property substantially
similar in use to the Mortgaged Property; (iv) except as expressly permitted under the PPPFA, Mortgagor shall keep the Mortgaged Property free and clear of all liens and encumbrances imposed by any Environmental Laws due to any act or omission by
Mortgagor or any other Person (the “Environmental Liens”); (v) Mortgagor shall, at its sole expense, (A) perform any environmental site assessment or other investigation of environmental conditions at the Mortgaged Property upon
Mortgagee’s request based on Mortgagee’s reasonable belief that the Mortgaged Property is not in compliance with any Environmental Law, (B) share with Mortgagee the results and reports, and Mortgagee shall be entitled to rely on such
results and reports, and (C) complete any remediation of Hazardous Materials affecting the Mortgaged Property or other actions required by any Environmental Laws; (vi) Mortgagor shall not allow Lessee or any other user of the Mortgaged Property to
violate any Environmental Law; and (vii) Mortgagor shall promptly notify Mortgagee in writing after it becomes aware of (A) the presence, Release, or threatened Release of Hazardous Materials affecting the Mortgaged Property in violation of
Environmental Laws, (B) any non-compliance of the Mortgaged Property with any Environmental Laws, (C) any actual or potential Environmental Lien, (D) any required or proposed remediation of environmental conditions relating to the Mortgaged
Property, or (E) any communication or notice from any Person relating to or alleging any violation or potential violation of Environmental Law. For purposes hereof, (1) “affecting the Mortgaged Property” means “in, on, under,
stored, used or migrating to or from the Mortgaged Property”, (2) “Environmental Law” means any present and future federal, state and local laws, statutes, ordinances, rules, regulations, standards, policies and other
government directives or requirements, as well as common law, that apply to Mortgagor or the Mortgaged Property and relate to Hazardous Materials, including, without limitation, the Comprehensive Environmental Response, Compensation and Liability
Act and the Resource Conservation and Recovery Act, (3) “Hazardous Materials” means petroleum and petroleum products and compounds containing them, including gasoline, diesel fuel and oil; explosives, flammable materials;
radioactive materials; polychlorinated biphenyls and compounds containing them; lead and lead-based paint; mold, infectious substances, asbestos or asbestos-containing materials in any form that are or could become friable; underground or
above-ground storage tanks, whether empty or containing any substance; any substance the presence of which on the Mortgaged Property is prohibited by any federal, state or local authority; any substance that requires special handling; and any other
material or substance now or in the future defined as a “hazardous substance,” “hazardous material,” “hazardous waste,” “toxic substance,” “toxic pollutant,” “contaminant,” or
“pollutant” within the meaning of any Environmental Law, and (4) “Release” of any Hazardous Materials includes any release, deposit, discharge, emission, leaking, spilling, seeping, migrating, pumping, pouring, escaping,
dumping, disposing or other movement of Hazardous Materials. 
 Section 3.10. Leasing Restrictions. Except as expressly permitted by
the PPPFA, Mortgagor shall not (a) amend or modify the Master Lease or the Site Lease with respect to the Mortgaged Property, (b) extend or renew (except in accordance with mandatory actions by the landlord under the existing lease provisions, if
any) the Master Lease or the Site Lease with respect to the Mortgaged Property, (c) terminate or accept the surrender of the Master Lease or the Site Lease with respect to the Mortgaged Property, or (d) enter into any new lease of the Mortgaged
Property. 

  
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 Section 3.11. Covenants Relating to Leases and Rents. Except as expressly permitted by the
PPPFA, Mortgagor shall not (a) sell, assign, pledge, mortgage or otherwise transfer or encumber (except hereby) the Master Lease or the Site Lease with respect to the Mortgaged Property, any rents or any right, title or interest of Mortgagor in the
foregoing; (b) in any manner intentionally or materially impair the value of the Mortgaged Property; (c) waive, excuse, condone, discount, set off, compromise, or in any manner release or discharge Lessee from any of its obligations under the Master
Lease or the Site Lease with respect to the Mortgaged Property; (d) enter into any settlement of any action or proceeding arising under, or in any manner connected with, the Master Lease or the Site Lease with respect to the Mortgaged Property or
with the obligations of the landlord or the Lessee thereunder; or (e) modify, cancel or terminate any guaranties under the Master Lease or the Site Lease with respect to the Mortgaged Property. Mortgagor shall, at its sole cost and expense, duly and
timely keep, observe, perform, comply with and discharge all of the material obligations of the landlord under the Master Lease and the Site Lease with respect to the Mortgaged Property, or cause the foregoing to be done, and Mortgagor shall not
take any actions that would, either presently or with the passage of time, cause a default by Mortgagor under any of the Master Lease or the Site Lease with respect to the Mortgaged Property. 

Section 3.12. Illegal Activity. No portion of the Mortgaged Property will be purchased, improved, fixtured, equipped or furnished by
Mortgagor with proceeds of any illegal activity, and Mortgagor shall not engage in, and shall make commercially reasonable efforts to prevent others from engaging in, illegal activities at or on the Mortgaged Property. 

Section 3.13. Satisfaction of Obligations. Mortgagor may satisfy any or all of its obligations under this Article III by causing any
other Person to satisfy such obligations on its behalf. 
 ARTICLE IV 

ASSIGNMENT OF LEASES AND RENTS 

Section 4.01. Assignment of Master Lease, Basic Rent and Supplemental Amounts. The Master Lease and the Site Lease with respect to the
Property and all Basic Rent (as defined in Section 3(b) of the Master Lease) and Supplemental Amounts (as defined in Section 3(d) of the Master Lease), whether now due, past due, or to become due, are hereby absolutely, presently and unconditionally
assigned, transferred, conveyed and set over by Mortgagor (to the extent of Mortgagor’s interest in same) to Mortgagee and such Basic Rent and Supplemental Amounts shall be applied by Mortgagee to the Secured Obligations, in such order as is
determined by Mortgagee in accordance with the terms of this Mortgage. Mortgagor’s rights in and to any and all other leases with respect to the Property are hereby absolutely, presently and unconditionally assigned, transferred, conveyed and
set over by Mortgagor (to the extent of Mortgagor’s interest in same) to Mortgagee. Mortgagor shall not, other than as expressly permitted by the PPPFA, assign, transfer or encumber in any manner the Master Lease

  
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or the Site Lease with respect to the Property or any Basic Rent or Supplemental Amounts relating to the Property. It is understood and agreed that neither the foregoing assignment to Mortgagee
nor the exercise by Mortgagee of any of its rights or remedies hereunder including, without limitation, the appointment of a receiver for the Mortgaged Property by any court at the request of Mortgagee or by agreement with Mortgagor, or the entering
into possession of the Mortgaged Property or any part thereof by such receiver shall be deemed to make Mortgagee a “mortgagee-in-possession” or otherwise responsible or liable in any manner with respect to the Mortgaged Property or the
use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Mortgagee, in person or by agent, assumes actual possession thereof. 

ARTICLE V 
 SECURITY AGREEMENT

 Section 5.01. Creation of Security Interest. Mortgagor hereby grants Mortgagee a security interest in all of its rights, titles
and interests, if any, in and to the Fixtures and Equipment for the purpose of securing the Secured Obligations. Mortgagee shall have, in addition to all rights and remedies provided herein, all the rights and remedies of a secured party under the
Uniform Commercial Code of the state in which the applicable portion of the Fixtures and Equipment is located. 
 Section 5.02. Fixture
Filing. Mortgagor hereby agrees that this Mortgage constitutes a security agreement and “fixture filing” as those terms are used in the applicable Uniform Commercial Code. Information relative to the security interest created hereby
may be obtained by written request to Mortgagee at its mailing address set forth on Page 1 hereof. 
 ARTICLE VI 

DEFAULTS; REMEDIES 
 Section
6.01. As used herein, a “Default” shall mean the occurrence of one of the events described in either of clause (i) or clause (ii) of Section 6.08(a) of the PPPFA. 

Section 6.02. Intentionally Omitted. 

Section 6.03. Default Remedies. 

(a) If a Default occurs, this Mortgage may be enforced as a mortgage, and Mortgagee may exercise any right, power or remedy permitted to it
hereunder, under the PPPFA or under any of the other Transaction Documents or by law or in equity, and, without limiting the generality of the foregoing, Mortgagee may, personally or by its agents, to the maximum extent permitted by law: 

(i) enter and take possession of the Mortgaged Property or any part thereof, exclude Mortgagor and all Persons claiming under
Mortgagor whose claims are junior to this Mortgage, wholly or partly therefrom, and use, operate, manage and control the same 

  
 -16- 

 
either in the name of Mortgagor or otherwise as Mortgagee may deem best, and upon such entry, from time to time at the expense of Mortgagor and the Mortgaged Property, make all such repairs,
replacements, alterations, additions or improvements to the Mortgaged Property or any part thereof as Mortgagee may deem proper and, whether or not Mortgagee has so entered and taken possession of the Mortgaged Property or any part thereof, collect
and receive all the rents and profits and apply the same, to the maximum extent permitted by law, to the payment of all expenses which Mortgagee may be authorized to make under this Mortgage, or under the PPPFA or the other Transaction Documents,
the remainder to be applied to the payment of the Secured Obligations until the same shall have been repaid in full; if Mortgagee demands or attempts to take possession of the Mortgaged Property or any portion thereof in the exercise of any rights
hereunder, Mortgagor shall promptly turn over and deliver complete possession thereof to Mortgagee; and/or 
 (ii) to the
maximum extent permitted by law, personally or by agents, with or without entry, if Mortgagee deems it advisable: 
 (x) sell
the Mortgaged Property at a sale or sales held at such place or places and time or times and upon such notice and otherwise in such manner as may be required by law, or, in the absence of any such requirement, as Mortgagee may deem appropriate, and
from time to time adjourn any such sale by announcement at the time and place specified for such sale or for such adjourned sale without further notice, except such as may be required by law; 

(y) proceed to protect and enforce its rights under this Mortgage, by suit for specific performance of any covenant contained
herein, in the PPPFA or in any other Transaction Documents or in aid of the execution of any power granted herein, in the PPPFA or in any other Transaction Documents, or for the foreclosure of this Mortgage and the sale of the Mortgaged Property
under the judgment or decree of a court of competent jurisdiction, or for the enforcement of any other right as Mortgagee may deem most effectual for such purpose, provided, that in the event of a sale, by foreclosure or otherwise, of less than all
of the Mortgaged Property, this Mortgage shall continue as a lien on, and security interest in, the remaining portion of the Mortgaged Property; and/or 

(z) exercise any or all of the remedies available to a secured party under the applicable Uniform Commercial Code, including,
without limitation: 
 (1) either personally or by means of a court-appointed receiver, take possession of all or any of the Fixtures and
the Equipment and exclude therefrom Mortgagor and all Persons claiming under Mortgagor, and thereafter hold, store, use, operate, manage, maintain and control, make repairs, replacements, alterations, additions and improvements to and exercise all
rights and powers of Mortgagor in respect of the Fixtures and the Equipment or any part thereof; if Mortgagee demands or attempts to take possession of the Fixtures or the Equipment in the exercise of any rights hereunder, Mortgagor shall promptly
turn over and deliver complete possession thereof to Mortgagee; 

  
 -17- 

 (2) upon notice to Mortgagor, make such payments and do such acts as Mortgagee may deem
necessary to protect its security interest in the Fixtures and the Equipment, including, without limitation, paying, purchasing, contesting or compromising any encumbrance which is prior to or superior to the security interest granted hereunder, and
in exercising any such powers or authority paying all expenses incurred in connection therewith; 
 (3) require Mortgagor to assemble the
Fixtures and the Equipment or any portion thereof, at a place designated by Mortgagee and reasonably convenient to both parties, and promptly to deliver the Fixtures and the Equipment to Mortgagee, or an agent or representative designated by it;
Mortgagee, and its agents and representatives, shall have the right to enter upon the Property to exercise Mortgagee’s rights hereunder; 

(4) sell, lease or otherwise dispose of the Fixtures and the Equipment, with or without having the Fixtures or the Equipment at the place of
sale, and upon such terms and in such manner as Mortgagee may determine (and Mortgagee or any other holder or holders of any of the Secured Obligations (each, a “Holder”) may be a purchaser at any such sale); and/or 

(5) unless the Fixtures or the Equipment are perishable or threaten to decline speedily in value or are of a type customarily sold on a
recognized market, Mortgagee shall give Mortgagor at least ten days’ prior notice of the time and place of any sale of the Fixtures or the Equipment or other intended disposition thereof. 

(b) If a Default occurs, Mortgagee, to the maximum extent permitted by law, shall be entitled, as a matter of right, to the appointment of a
receiver of the Mortgaged Property without regard to the adequacy of the security for the Secured Obligations or the solvency of Mortgagor. Mortgagor hereby irrevocably consents to such appointment and waives notice of any application therefor. Any
such receiver or receivers shall have all the usual powers and duties of receivers in like or similar cases and all the powers and duties of Mortgagee in case of entry and shall continue as such and exercise all such powers until the date of
confirmation of sale of the Mortgaged Property, unless such receivership is sooner terminated. 
 (c) If a Default occurs and this Mortgage
is being enforced pursuant to clause (a) above, Mortgagor shall, to the maximum extent permitted by law, pay to Mortgagee, or to any receiver appointed at the request of Mortgagee to collect rents, the fair and reasonable rental value for the
use and occupancy of the Land, the Improvements, the Fixtures and the Equipment or of such part thereof as may be in the possession of Mortgagor. Upon default in the payment thereof, Mortgagor shall vacate and surrender possession of the Land, the
Improvements, the Fixtures and the Equipment to Mortgagee or such receiver, and upon a failure so to do may be evicted by summary proceedings. 

  
 -18- 

 (d) In any sale under any provision of this Mortgage or pursuant to any judgment or decree of
court, the Mortgaged Property, to the maximum extent permitted by law, may be sold in one or more parcels or as an entirety and in such order as Mortgagee may elect, without regard to the right of Mortgagor or any Person claiming under Mortgagor to
the marshaling of assets. The purchaser at any such sale shall take title to the Mortgaged Property or the part thereof so sold free and discharged of the estate of Mortgagor therein, the purchaser being hereby discharged from all liability to see
to the application of the purchase money. Any Person, including Mortgagee or any Holder, may purchase at any such sale. Upon the completion of any such sale by virtue of this Section 6.03, Mortgagee shall execute and deliver to the purchaser
an appropriate instrument which shall effectively transfer all of Mortgagor’s and Mortgagee’s estate, right, title, interest, property, claim and demand in and to the Mortgaged Property or portion thereof so sold, but without any covenant
or warranty, express or implied. Mortgagee is hereby irrevocably appointed the attorney-in-fact of Mortgagor in its name and stead to make all appropriate transfers and deliveries of the Mortgaged Property or any portions thereof so sold and, for
that purpose, Mortgagee may execute all appropriate instruments of transfer, and may substitute one or more Persons with like power, Mortgagor hereby ratifying and confirming all that said attorneys or such substitute or substitutes shall lawfully
do by virtue hereof. Nevertheless, Mortgagor shall ratify and confirm, or cause to be ratified and confirmed, any such sale or sales by executing and delivering, or by causing to be executed and delivered, to Mortgagee or to such purchaser or
purchasers all such instruments as may be advisable, in the sole judgment of Mortgagee, for such purpose, and as may be designated in such request. Any sale or sales made under or by virtue of this Mortgage, to the extent not prohibited by law,
shall operate to divest all the estate, right, title, interest, property, claim and demand whatsoever, whether at law or in equity, of Mortgagor in, to and under the Mortgaged Property, or any portions thereof so sold, and shall be a perpetual bar
both at law and in equity against Mortgagor and against any and all Persons claiming or who may claim the same, or any part thereof, by, through or under Mortgagor, as applicable. The powers and agency herein granted are coupled with an interest and
are irrevocable. 
 (e) To the maximum extent permitted by law, all rights of action under the PPPFA, this Mortgage and the other
Transaction Documents may be enforced by Mortgagee without the possession of such documents and without the production thereof at any trial or other proceeding relating thereto. 

Section 6.04. Compliance with Mortgage Foreclosure Law. 

(a) If any provision of this Mortgage is inconsistent with any applicable provision of the Illinois Mortgage Foreclosure Act, 735 ILCS
5/15-101, et seq. (1998) (as the same may be amended or restated, the “Act”), the provisions of the Act shall take precedence over the provisions of this Mortgage, but shall not invalidate or render unenforceable any other provision
of this Mortgage that can fairly be construed in a manner consistent with the Act. 

  
 -19- 

 (b) Without in any way limiting or restricting any of Mortgagee’s rights, remedies, powers
and authorities under this Mortgage, and in addition to all of such rights, remedies, powers, and authorities, Mortgagee shall also have and may exercise any and all rights, remedies, powers and authorities which the holder of a mortgage is
permitted to have or exercise under the provisions of the Act, as the same may be amended from time to time. If any provision of this Mortgage grants to Mortgagee any rights, remedies, powers or authorities upon default of Mortgagor that are more
limited than the rights that would otherwise be vested in Mortgagee under the Act in the absence of said provision, Mortgagee shall be vested with all of the rights, remedies, powers and authorities granted in the Act to the fullest extent permitted
by law. 
 (c) Without limiting the generality of the foregoing, all expenses incurred by Mortgagee, to the fullest extent reimbursable,
under Sections 5/15-1510, 5/15-1512, or any other provision of the Act, whether incurred before or after any decree or judgment of foreclosure, and whether or not enumerated in any other provision of this Mortgage, shall be added to the indebtedness
secured by this Mortgage and by the judgment of foreclosure as additional Secured Obligations. 
 Section 6.05. Application of
Proceeds. The proceeds of any sale made either under the power of sale hereby given or under a judgment, order or decree made in any action to foreclose or to enforce this Mortgage, or of any monies held by Mortgagee hereunder shall be applied
to the Secured Obligations as determined by Mortgagee. 
 Section 6.06. Powers of Mortgagee. To the maximum extent permitted by law,
Mortgagee may at any time or from time to time renew or extend this Mortgage or (with the agreement of Mortgagor) alter or modify the same in any way, or waive any of the terms, covenants or conditions hereof, in whole or in part, and may release or
reconvey any portion of the Mortgaged Property or any other security, and grant such extensions and indulgences in relation to the Secured Obligations, or release any Person liable therefor as Mortgagee may determine without the consent of any
junior lienor or encumbrancer, without any obligation to give notice of any kind thereto, without in any manner affecting the priority of the lien and estate of this Mortgage on or in any part of the Mortgaged Property, and without affecting the
liability of any other Person liable for any of the Secured Obligations. 
 Section 6.07. Mortgagor’s Waiver of Rights. Except
as otherwise expressly set forth herein or in the other Transaction Documents, to the maximum extent permitted by law, Mortgagor hereby waives the benefit of all laws now existing or that may subsequently be enacted providing for (i) any
appraisement before sale of any portion of the Mortgaged Property, (ii) any extension of the time for the enforcement of the collection of the indebtedness or the creation or extension of a period of redemption from any sale made in collecting such
debt, (iii) exemption of the Mortgaged Property from attachment, levy or sale under execution or exemption from civil process or (iv) any requirement that the Mortgaged Property be sold in separate lots, trusts or parcels. Except as otherwise
expressly set forth herein, to the fullest extent Mortgagor may do so, Mortgagor agrees that it shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement,
valuation, stay, exemption, extension or redemption, reinstatement or requiring foreclosure of this Mortgage before exercising any other remedy granted hereunder and 

  
 -20- 

 
Mortgagor, for itself and its successors and assigns, and for any and all Persons ever claiming any interest in the Mortgaged Property, to the maximum extent permitted by law, hereby waives and
releases all rights of redemption, reinstatement, valuation, appraisement, stay of execution, notice of election to mature or declare due the whole of the secured indebtedness and marshaling in the event of foreclosure of the liens hereby created.

 Section 6.08. Multiple Security. If the Mortgaged Property consists of one or more parcels, whether or not contiguous and whether
or not located in the same county, then to the maximum extent permitted by law, Mortgagee may, in its sole discretion, commence or consolidate in a single foreclosure action all foreclosure proceedings against all such collateral securing the
Secured Obligations (including the Mortgaged Property), which action may be brought or consolidated in the courts of any county in which any of such collateral is located. Mortgagor acknowledges that the right to maintain a consolidated foreclosure
action is a specific inducement to Mortgagee to enter into the PPPFA, and Mortgagor expressly and irrevocably waives any objections to the commencement or consolidation of the foreclosure proceedings in a single action and any objections to the
laying of venue or based on the grounds of forum non conveniens which it may now or hereafter have. Mortgagor further agrees that if Mortgagee prosecutes one or more foreclosure or other proceedings against a portion of the Mortgaged Property or
against any collateral other than the Mortgaged Property, which collateral directly or indirectly secures the Secured Obligations, or if Mortgagee obtains a judgment of foreclosure and sale or similar judgment against such collateral, then, whether
or not such proceedings are being maintained or judgments were obtained in or outside the state in which the Mortgaged Property is located, Mortgagee may commence or continue foreclosure proceedings and exercise its other remedies granted in this
Mortgage (or otherwise) against all or any part of the Mortgaged Property and Mortgagor waives any objections to the commencement or continuation of a foreclosure of this Mortgage or exercise of any other remedies hereunder based on such other
proceedings or judgments, and waives any right to seek to dismiss, stay, remove, transfer or consolidate either any action under this Mortgage or such other proceedings on such basis. Neither the commencement nor continuation of proceedings to
foreclose this Mortgage nor the exercise of any other rights hereunder (or otherwise) nor the recovery of any judgment by Mortgagee in any such proceedings will prejudice, limit or preclude Mortgagee’s right to commence or continue one or more
foreclosure or other proceedings or obtain a judgment against any other collateral (either in or outside the state in which the Mortgaged Property is located) which secures the Secured Obligations, and Mortgagor expressly waives any objections to
the commencement of, continuation of, or entry of a judgment in such other proceedings or exercise of any remedies in such proceedings based upon any action or judgment connected to this Mortgage, and Mortgagor also waives any right to seek to
dismiss, stay, remove, transfer or consolidate either such other proceedings or any action under this Mortgage on such basis. 
 ARTICLE VII

 MISCELLANEOUS 
 Section 7.01.
Notices. All notices, requests and demands to or upon Mortgagee or Mortgagor shall be given in accordance with Section 11.01 of the Agreement. 

  
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 Section 7.02. Severability. Any provision of this Mortgage that is prohibited or
unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. If any portion of the Secured Obligations is for any reason not secured by a valid and enforceable lien
upon any part of the Mortgaged Property, then any payments made in respect of the Secured Obligations (whether voluntary or under foreclosure or other enforcement action or procedure or otherwise) shall, for purposes of this Mortgage (except to the
extent otherwise required by law) be deemed to be made (i) first, in respect of the portion of the Secured Obligations not secured by the lien of this Mortgage, (ii) second, in respect of the portion of the Secured Obligations secured by the lien of
this Mortgage, but which lien is on less than all of the Mortgaged Property, and (iii) last, to the portion of the Secured Obligations secured by the lien of this Mortgage, and which lien is on all of the Mortgaged Property. 

Section 7.03. Amendments in Writing; No Waiver; Cumulative Remedies. 

(a) None of the terms or provisions of this Mortgage may be waived, amended, supplemented or otherwise modified except by a written instrument
executed by Mortgagor and Mortgagee. 
 (b) No failure to exercise, nor any delay in exercising, on the part of Mortgagee, any right, power
or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder will preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver
by Mortgagee of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which Mortgagee would otherwise have on any future occasion. 

(c) The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights
or remedies provided by any other Settlement Document, applicable law, or in equity. 
 Section 7.04. Section Headings. The section
headings used in this Mortgage are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

Section 7.05. Successors and Assigns. This Mortgage shall run with the Land and be binding upon the successors and assigns of Mortgagor
and shall inure to the benefit of Mortgagee, and its successors and assigns. 
 Section 7.06. Conflicts and Merger. In the event of a
conflict between the terms and provisions hereof and the terms and provisions of the PPPFA, such conflicting terms and provisions of the PPPFA shall control. This Mortgage, together with the PPPFA and other Transaction Documents, constitutes the
entire agreement between Mortgagor and Mortgagee with respect to the subject matter hereof and thereof, and supersedes all prior agreements and understandings, if any, relating to the subject matter hereof or thereof. Any promises, representations,
warranties or guarantees not herein contained and hereinafter made shall have no force and effect unless in writing signed by the parties hereto. 

  
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 Section 7.07. Partial Release; Full Release. Mortgagee may release, for such consideration
or none, as it may require, any portion of the Mortgaged Property without, as to the remainder of the Mortgaged Property, in any way impairing or affecting the lien, security interest and priority herein provided for Mortgagee compared to any other
lien holder or secured party. Further, upon payment and performance of the Secured Obligations in full, Mortgagee shall at Mortgagor’s sole expense execute and deliver to Mortgagor such documents and instruments as may be required to release
the lien and security interest created by this Mortgage. 
 Section 7.08. Limitations on Recourse. 

(a) Limitation of Liability of SUBI Trustee. It is expressly understood and agreed that this Mortgage is executed by U.S. Bank Trust
National Association, not individually or personally but, under the Trust Agreement, solely as SUBI Trustee (as defined in the Trust Agreement as same exists as of the date of this Mortgage), in the exercise of the power and authority conferred and
vested in it as such SUBI Trustee, and that each and all of the representations, undertakings and agreements herein or therein made on the part of the SUBI Trustee or Mortgagor are intended not as personal representations, undertakings and
agreements by U.S. Bank Trust National Association, or for the purpose or with the intention of binding U.S. Bank Trust National Association, personally, but are made and intended for the purpose of binding only the applicable SUBI Portfolio (as
defined in the Trust Agreement as same exists as of the date of this Mortgage), that nothing herein contained shall be construed as creating any liability of U.S. Bank Trust National Association, or any incorporator or any past, present or future
subscriber to the capital stock of, or stockholder, officer or director of U.S. Bank Trust National Association, to perform any covenant either express or implied contained herein or in the other Transaction Documents to which the SUBI Trustee or
Mortgagor is a party, and that so far as U.S. Bank Trust National Association, is concerned, any Person shall look solely to the applicable SUBI Portfolio for the performance of any obligation hereunder or thereunder or under any of the instruments
referred to herein or therein; provided, that nothing contained in this Section 6.08 shall be construed to limit in scope or substance any general corporate liability of U.S. Bank Trust National Association as expressly provided in the Trust
Agreement or in the Participation Agreement. As used herein, “Trust Agreement” shall mean that certain trust agreement dated as of October 28, 2003 (as amended, supplemented, or otherwise modified from time to time) between SRC O.P.
Corporation, as owner participant and initial beneficiary, and U.S. Bank Trust National Association, as trustee of the Undivided Trust Interest and as Owner Trustee, and “Participation Agreement” shall mean that certain
participation agreement dated as of November 24, 2003, among SRC O.P. Corporation, U.S. Bank Trust National Association, SRC Facilities Statutory Trust No. 2003-A, SRC Real Estate (TX), LP, Sears, Roebuck and Co., SRC Depositor Corporation, and
Wells Fargo Bank Minnesota, N.A. 
 (b) Limitation of Liability to the Mortgaged Property. Anything (other than Section
7.08(a)) in this Mortgage or the other Transaction Documents to the contrary notwithstanding, Mortgagee shall not have any claim, remedy or right hereunder to proceed against SUBI Trustee, or U.S. Bank Trust National Association on a recourse
basis or any past, present or future beneficiary, stockholder, subscriber of capital stock, officer, director, incorporator, partner, employee, agent or affiliate of any thereof whether by virtue of any
statute

  
 -23- 

 
or rule of law or by enforcement of any penalty or assessment or otherwise, for the payment of any deficiency or any other sum owing on account of the payment of any liability resulting from any
breach of any representation, agreement or warranty of any nature whatsoever in this Mortgage or any other Transaction Document from any source other than the Mortgaged Property, any other collateral provided under the Transaction Documents or
arising under ERISA Section 4068, and/or Company and any of its Subsidiaries personally under the Transaction Documents or applicable law; and Mortgagee, by the acceptance of this Mortgage, waives and releases any liability hereunder of SUBI Trustee
and U.S. Bank Trust National Association on a recourse basis or any past, present or future beneficiary, stockholder, subscriber of capital stock, officer, director, incorporator, partner, employee, agent or affiliate of any thereof for and on
account of such liability, and Mortgagee agrees to look solely to the Mortgaged Property, any other collateral provided under the Transaction Documents or arising under ERISA Section 4068, and/or Company and any of its Subsidiaries personally, for
the payment or satisfaction of such liability. 
 Section 7.09. [Multi-Series Trust. Mortgagor represents, warrants and covenants
that (a) it is a multi-series Delaware statutory trust and each of the Sites (except the Sites located in the State of Maryland) is allocated to a separate series of such Delaware statutory trust, and (b) each series of such trust is and shall be
liable for and subject to the Secured Obligations.] [NTD: TO BE INCLUDED IF A STATUTORY TRUST.] 
 Section 7.10. GOVERNING LAW. THIS
MORTGAGE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (EXCLUDING ANY CONFLICTS-OF-LAW RULE OR PRINCIPLE THAT MIGHT REFER SAME TO THE LAWS OF ANOTHER JURISDICTION); PROVIDED THAT THE
CREATION, PERFECTION AND ENFORCEMENT OF SECURITY INTEREST GRANTED BY THIS MORTGAGE SHALL BE GOVERNED BY THE LAWS OF THE STATE IN WHICH THE LAND IS LOCATED. 

Section 7.11. WAIVER OF JURY TRIAL. EACH OF MORTGAGOR AND MORTGAGEE HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT
PERMITTED BY LAW THE RIGHT TO TRIAL BY JURY IN ANY LEGAL OR EQUITABLE ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS MORTGAGE OR ANY TRANSACTION CONTEMPLATED HEREBY OR THE SUBJECT MATTER OF ANY OF THE FOREGOING. 

Section 7.12. Waiver of Certain Rights. Mortgagor hereby waives its right to assert against Mortgagee, its successors and assigns, any
and all claims, defenses and counterclaims based on an election of remedies in the event Mortgagee acts in accordance with the terms of this Mortgage, the PPPFA, the other Transaction Documents, or applicable law. 

Section 7.13. Amounts Secured. All costs or expenses advanced or incurred by Mortgagee in connection with this Mortgage shall: (i) be
deemed demand obligations, (ii) bear interest from the date of demand at the Default Rate until paid, (iii) be part of, together with such interest, the Secured Obligations, and (iv) be secured by this Mortgage. Mortgagee, upon making any such
advance, shall also be subrogated to rights of the Person receiving such advance. 

  
 -24- 

 Section 7.14. Maximum Amount. The aggregate maximum principal amount of indebtedness that
may be secured hereby is $[        ]. 
 Section 7.15. Mortgage Tax Statement. This
Mortgage does not cover real property principally improved or to be improved by one or more structures containing, in the aggregate, not more than six residential dwelling units, each having its own separate cooking facilities. 

Section 7.16. Illinois Specific Provisions Business Loan. The proceeds of the obligations secured hereby will be used for the purposes
specified in 815 ILCS 205/4 (1998), and the principal obligation secured hereby constitutes a “business loan” coming within the definition and purview of said section. 

Section 7.17. Any and all costs and expenses incurred by Mortgagee in connection with the exercise of any rights or remedies of Mortgagee
under this Mortgage, together with interest thereon at the Default Rate from the date incurred by Mortgagee until actually paid by Mortgagor, shall be immediately paid by Mortgagor on demand and shall be secured by this Mortgage and by all other
Transaction Documents securing all or any part of the Secured Obligations. 
 Section 7.18. Subordination. Notwithstanding anything
contained in this Mortgage to the contrary, the liens, security interests and assignments of this Mortgage are subordinate and inferior to the liens, security interests and assignments of the First Mortgage. Any enforcement by Mortgagee of the
liens, security interest and assignments of this Mortgage shall be subject to the liens, security interests and assignments of the First Mortgage. 

Section 7.19. [Capacity as Trustee. It is expressly understood and agreed by the parties hereto that (a) this Mortgage is executed and
delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the SRC Facilities Statutory Trust No. 2003-A, in the exercise of the powers and authority conferred and vested in it, (b) each of the
representations, undertakings and agreements herein made on the part of Mortgagor is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of
binding only Mortgagor, (c) nothing herein contained shall be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such
liability, if any, being expressly waived by the parties hereto, (d) U.S. Bank Trust National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by Mortgagor in this Mortgage and (e)
under no circumstances shall U.S. Bank Trust National Association be personally liable for the payment of any indebtedness or expenses of Mortgagor or be liable for the breach or failure of any obligation, representation, warranty or covenant made
or undertaken by Mortgagor under this Mortgage or any other related document.] 

  
 -25- 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

			
	MORTGAGOR
	
	[                    ]
		
	By:	 	  

  
 -26- 

					
	STATE OF [ILLINOIS]	 	)	 	
		 	)	 	ss.:
	COUNTY OF [COOK]	 	)	 	

 On the      day of     , 20    , before me,
the undersigned, a notary public in and for said state, personally appeared                     , personally known to me or proved to me on
the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the
person upon behalf of which the individual acted executed the instrument. 
  

	
	  

	Notary Public

  
 -27- 

 SCHEDULE A 

Legal Description of the Land 

 Mortgage Signature Pages 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON
	 	
	 Notary Public
	 	
		
	 

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Fairbanks, AK
Store No. 2819 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the
undersigned, a notary public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and
acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON
	 	
	 Notary Public
	 	
		
	 

	 	 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Thornton,
Colorado Store No. 1831 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the
undersigned, a notary public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and
acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON
	 	
	Notary Public	 	
		
	 

	 	 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Aurora,
Colorado Store No. 1141 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the
undersigned, a notary public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and
acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON
	 	
	 Notary Public
	 	
		
	 

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Chapel Hills,
Colorado Store No. 1221 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”	 	
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the
undersigned, a notary public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and
acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON
	 	
	 Notary Public
	 	
		
	 

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 

Denver-Southwest, Colorado Store No. 1271 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
	“Borrower”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	Signed, sealed, and delivered this 17th day of MARCH, 2016 in the presence of:
	
	 

	  

	 Unofficial Witness

	
	 /s/ VICKY EATON

	Notary Public
	Commission expires:	 	 4/17/19

	
	     

	 [Affix notarial seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Douglasville, GA Store No. 1095 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
	“Borrower”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	Signed, sealed, and delivered this 17th day of MARCH, 2016 in the presence of:
	
	 

	  

	 Unofficial Witness

	
	 /s/ VICKY EATON

	 Notary Public

	Commission expires:	 	 4/17/19

	
	 

	[Affix notarial seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Tucker, GA Store No. 8745 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
		 	“Borrower’’
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	Signed, sealed, and delivered
	this 17th day of MARCH, 2016
	in the presence of:
	
	 

  

	Unofficial Witness
	
	 /s/ VICKY EATON

	Notary Public
	Commission expires:	 	 4/17/19

	
	

	  
 [Affix notarial seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Augusta, Georgia Store No. 1035 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
		 	“Borrower”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	 Signed, sealed, and delivered
 this
17th day of MARCH, 2016
 in the presence of:

	
	 

  

	Unofficial Witness
	
	 /s/ VICKY EATON

	Notary Public
	Commission expires:	 	 4/17/19

	
	 

	  
 [Affix notarial
seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Atlanta-Cobb, Georgia Store No. 1155 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
		 	“Borrower”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	 Signed, sealed, and delivered
 this
17th day of MARCH, 2016
 in the presence of:

	
	 

  

	Unofficial Witness
	
	 /s/ VICKY EATON

	Notary Public
	Commission expires:	 	 4/17/19

	
	 

	  
 [Affix notarial
seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Atlanta-Southlake, Georgia Store No. 1565 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
		 	“Borrower”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	 Signed, sealed, and delivered
 this
17th day of MARCH, 2016
 in the presence of:

	
	 

  

	 Unofficial Witness

	
	 /s/ VICKY EATON

	Notary Public
	Commission expires:	 	 4/17/19

	
	 

	  
 [Affix notarial seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Atlanta-Gwinnett Place, Georgia Store No. 1685 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
		 	“Borrower”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	 Signed, sealed, and delivered
 this
17th day of MARCH, 2016
 in the presence of:

	
	 

  

	 Unofficial Witness

	
	 /s/ VICKY EATON

	Notary Public
	Commission expires:	 	 4/17/19

	
	

	  
 [Affix notarial seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Waycross, Georgia Store No. 2115 

 IN WITNESS WHEREOF, Borrower has caused this Security Instrument to be duly executed and
delivered as of the date first above written. 
  

							
		 	“Borrower”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

			
	 Signed, sealed, and delivered

this 17th day of MARCH, 2016

in the presence of:

	
	 

  

	 Unofficial Witness

	
	 /s/ VICKY EATON

	Notary Public
	Commission expires:	 	 4/17/19

	
	

	  
 [Affix notarial seal or stamp]

  
 Deed to Secure Debt, Assignment of
Leases and Rents, 
 Security Agreement and Fixture Filing 

Athens, Georgia Store No. 2845 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and
acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	 

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Bloomingdale,
IL Store No. 1172 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Peoria, IL
Store No. 1321 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Springfield,
IL Store No. 1780 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

			
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
		
	By:	 	 /s/ JOSE A. GALARZA

	Name:	 	 JOSE A. GALARZA

	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 West Dundee,
IL Store No. 1820 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a
notary public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me
that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Chicago Ridge,
IL Store No. 1840 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she
executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Peru, IL Store
No. 2121 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Crystal Lake,
IL Store No. 2250 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Merrillville,
Indiana Store No. 1650 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 Before me, a Notary Public in and for said County and State, personally appeared JOSE A. GALARZA, the VICE
PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, and acknowledged the execution of the foregoing
instrument as such officer acting for and on behalf of said Trustee. 
 Witness my hand and Notarial Seal this 17th day of MARCH, 2016. 
  

			
	 

	  	 /s/ VICKY EATON

	  	(signature)
	  	 VICKY EATON

	  	(printed name)
		
	 My Commission Expires:
	  	
	 Notary Public
	  	
		
	COOK	  	 Resident of ILLINOIS

	 County
	  	

  

	
	This instrument was prepared by and after recording, return to:
	                                      
                      , Esq.
	Pension Benefit Guaranty Corporation
	1200 K Street, NW
	Washington, DC 20005

 I affirm, under the penalties for perjury, that I have taken reasonable care to redact each Social Security number in this
document, unless required by law.                     
                                         
       
                                         
                                         
           

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Merrillville,
Indiana Store No. 1650 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Castleton
Square Mall, Indianapolis, Indiana Store No. 1600 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 Before me, a Notary Public in and for said County and State, personally appeared JOSE A. GALARZA, the VICE
PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, and acknowledged the execution of the
foregoing instrument as such officer acting for and on behalf of said Trustee. 
 Witness my hand and Notarial Seal this 17th day of MARCH, 2016. 
  

			
	

	  	 /s/ VICKY EATON

	  	(signature)
	  	 VICKY EATON

	  	(printed name)
		
	My Commission Expires:	  	
	Notary Public	  	
		
	COOK	  	Resident of ILLINOIS
	County	  	

  

	
	This instrument was prepared by and
	after recording, return to:
	                                      
                      , Esq.
	Pension Benefit Guaranty Corporation
	1200 K Street, NW
	Washington, DC 20005

 I affirm, under the penalties for perjury, that I have taken reasonable care to redact each Social Security number in this
document, unless required by law.                     
                                         
   
                                         
                                         
           

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Castleton
Square Mall, Indianapolis, Indiana Store No. 1600 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Indianapolis,
Indiana Store No. 1680 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 Before me, a Notary Public in and for said County and State, personally appeared JOSE A. GALARZA, the VICE
PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, and acknowledged the execution of the foregoing
instrument as such officer acting for and on behalf of said Trustee. 
 Witness my hand and Notarial Seal this 17th day of MARCH, 2016. 
  

			
	

	  	 /s/ VICKY EATON

	  	(signature)
	  	
	  	 VICKY EATON

	  	(printed name)
		
	My Commission Expires:	  	
	Notary Public	  	
		
	COOK	  	Resident of ILLINOIS
	County	  	

 This instrument was prepared by and 

after recording, return to: 

                          
                                  , Esq. 

Pension Benefit Guaranty Corporation 
 1200 K Street, NW 

Washington, DC 20005 
 I affirm, under the penalties for perjury,
that I have taken reasonable care to redact each Social Security number in this document, unless required by law.                     
                                         
       
                                         
                                         
           
  

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Indianapolis,
Indiana Store No. 1680 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	 SCR FACILITIES STATUTORY TRUST
 No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Mishawaka,
Indiana Store No. 1800 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 Before me, a Notary Public in and for said County and State, personally appeared JOSE A. GALARZA, the VICE
PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, and acknowledged the execution of the foregoing
instrument as such officer acting for and on behalf of said Trustee. 
 Witness my hand and Notarial Seal this 17th day of MARCH, 2016. 
  

			
	

	  	 /s/ VICKY EATON

	  	(signature)
	  	
	  	 VICKY EATON

	  	(printed name)
		
	My Commission Expires:	  	
	Notary Public	  	
		
	COOK	  	Resident of ILLINOIS
	County	  	

 This instrument was prepared by and 

after recording, return to: 

                          
                                  , Esq. 

Pension Benefit Guaranty Corporation 
 1200 K Street, NW 

Washington, DC 20005 
 I affirm, under the penalties for perjury,
that I have taken reasonable care to redact each Social Security number in this document, unless required by law.                     
                                         
       
                                         
                                         
           

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Mishawaka,
Indiana Store No. 1800 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Michigan City,
Indiana Store No. 2290 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 Before me, a Notary Public in and for said County and State, personally appeared JOSE A. GALARZA, the VICE
PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, and acknowledged the execution of the foregoing
instrument as such officer acting for and on behalf of said Trustee. 
 Witness my hand and Notarial Seal this 17th day of MARCH, 2016. 
  

			
	

	  	 /s/ VICKY EATON

	  	(signature)
	  	
	  	 VICKY EATON

	  	(printed name)
		
	My Commission Expires:	  	
	Notary Public	  	
		
	COOK	  	Resident of ILLINOIS
	County	  	

 This instrument was prepared by and 

after recording, return to: 

                          
                                  , Esq. 

Pension Benefit Guaranty Corporation 
 1200 K Street, NW 

Washington, DC 20005 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Michigan City,
Indiana Store No. 2290 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 This instrument was acknowledged before me on this 17th day
of MARCH, 2016, by JOSE A.GALARZA as VICE PRESIDENT of U.S. Bank Trust National Association, Trustee of SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, on behalf
of which this instrument was executed. 
  

	
	 /s/ VICKY EATON

	Notary Public

  

			
	 

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Sioux City,
Iowa Store No. 2422 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

													
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
						
		 	By:	 		 		 		 	 /s/ JOSE A. GALARZA

		 		 		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 This instrument was acknowledged before me on this 17th day
of MARCH, 2016, by JOSE A.GALARZA as VICE PRESIDENT of U.S. Bank Trust National Association, Trustee of SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, on behalf
of which this instrument was executed. 
  

	
	 /s/ VICKY EATON

	Notary Public

  

			
	 

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Davenport,
Iowa Store No. 2760 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank National Trust Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	SS.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to
me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Des Moines,
Iowa Store No. 1012 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to
me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Topeka, KS
Store No. 1642 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

			
	This Mortgage Prepared By and after recording return to:
	  

 

	  

 

	[signed]	 	  

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Florence, KY
Store No. 1730 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to
me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Florence, KY
Store No. 1730 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  

			
	This Mortgage Prepared By and after recording return to:
	  

 

	  

 

	[signed]	 	  

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Louisville, KY
Store No. 1790 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to
me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Louisville, KY
Store No. 1790 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Alexandria, LA
Store No. 2087 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 BE IT KNOWN, that on this 17th day of March, 2016 (but
for reference purposes dated as of                     , 20    ), before me, the undersigned Notary Public, duly
commissioned and qualified in and for the County and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 

SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National
Association, 400 N. Michigan Avenue 2nd Floor, Chicago, Illinois 60611, and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized
representative, 
 who declared that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and
Fixture Filing, and declare and acknowledge an indebtedness unto: 
 U.S. BANK TRUST NATIONAL ASSOCIATION, as Security Trustee, and in such
capacity Mortgagee, having a mailing address of 400 N. Michigan Avenue, 2nd Floor, Chicago, Illinois 60611, and a federal taxpayer identification number of 41-1973763. 

THUS DONE AND PASSED in the place and on the day and in the month and year hereinabove written, in the presence of the two undersigned
witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Alexandria, LA
Store No. 2087 

							
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	 SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with
respect to the applicable SUBI Portfolio
  
 By: U.S. BANK TRUST NATIONAL ASSOCIATION, a
national banking association, not in its individual capacity, but solely as SUBI Trustee

			
		
	

	 	 
		
	

	 	 

  

									
		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

 
 

  

	
	 /s/ VICKY EATON

	NOTARY PUBLIC

  
  
 

 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Alexandria, LA
Store No. 2087 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Baton Rouge.
LA Store No. 1147 

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 BE IT KNOWN, that on this 17th day of MARCH, 2016 (but
for reference purposes dated as of                     , 20    ), before me, the undersigned Notary Public, duly
commissioned and qualified in and for the County and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 

SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National
Association, 400 N. Michigan Avenue 2nd Floor, Chicago, Illinois 60611, and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized
representative, 
 who declared that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and
Fixture Filing, and declare and acknowledge an indebtedness unto: 
 U.S. BANK TRUST NATIONAL ASSOCIATION, as Security Trustee, and in such
capacity Mortgagee, having a mailing address of 400 N. Michigan Avenue, 2nd Floor, Chicago, Illinois 60611, and a federal taxpayer identification number of 41-1973763. 

THUS DONE AND PASSED in the place and on the day and in the month and year hereinabove written, in the presence of the two undersigned
witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Baton Rouge,
LA Store No. 1147 

							
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	 SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with
respect to the applicable SUBI Portfolio
  
 By: U.S. BANK TRUST NATIONAL ASSOCIATION, a
national banking association, not in its individual capacity, but solely as SUBI Trustee

 

			
		
	

	 	 
		
	

	 	 

  

							
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

 
 

  

	
	 /s/ VICKY EATON

	NOTARY PUBLIC

  
 

 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Baton Rouge,
LA Store No. 1147 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI

Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Baton Rouge,
LA Store No. 1086 

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 BE IT KNOWN, that on this 17th day of MARCH, 2016 (but
for reference purposes dated as of             , 20    ), before me, the undersigned Notary Public, duly commissioned and qualified in and for the County
and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 
 SRC Facilities
Statutory Trust No. 2003-A, a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National Association, 190 South LaSalle Street, 7th Floor, Mail Station:
MK-IL-SL7R, Chicago, Illinois 60603 and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized representative, 

who declared that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, and
declare and acknowledge an indebtedness unto: 
 WELLS FARGO BANK, N.A., as Security Trustee for the benefit of the Holders of the Mortgage
Notes referred to above and in such capacity Mortgage, having a mailing address of c/o
                            , and a federal taxpayer identification number of 94-1347393. 

THUS DONE AND PASSED in the place and on the day and in the month and year hereinabove written, in the presence of the two undersigned
witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Baton Rouge,
LA Store No. 1086 

									
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	SRC FACILITIES STATUTORY TRUST No.
		 	 	2003-A, a Delaware statutory trust acting only
		 	 	with respect to the applicable SUBI Portfolio
		 	 	  
 By:
	 	  
 U.S. BANK TRUST NATIONAL

		 	 	ASSOCIATION, a national banking
		 	 	association, not in its individual capacity, but
		 	 	solely as SUBI Trustee

	
	

	
	

 

  

					
	By:	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

 
 

  

	
	 /s/ VICKY EATON

	NOTARY PUBLIC

  
 

 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Baton Rouge,
LA Store No. 1086 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No.
	2003-A, a Delaware statutory trust acting only with
	respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL
		 	ASSOCIATION, a national banking
		 	association, not in its individual capacity,
		 	but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Bossier City,
Louisiana Store No. 2677 

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 BE IT KNOWN, that on this 17th day of MARCH, 2016 (but
for reference purposes dated as of             , 20    ), before me, the undersigned Notary Public, duly commissioned and qualified in and for the County
and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 
 SRC Facilities
Statutory Trust No. 2003-A, a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National Association, 400 N. Michigan Avenue 2nd Floor, Chicago, Illinois 60611,
and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized representative, 
 who declared
that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, and declare and acknowledge an indebtedness unto: 

U.S. BANK TRUST NATIONAL ASSOCIATION, as Security Trustee, and in such capacity Mortgagee, having a mailing address of 400 N. Michigan Avenue,
2nd Floor, Chicago, Illinois 60611, and a federal taxpayer identification number of 41-1973763. 

THUS DONE AND PASSED in the place and on the day and in the month and year hereinabove written, in the presence of the two undersigned
witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Bossier City,
Louisiana Store No. 2677 

									
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	SRC FACILITIES STATUTORY TRUST No.
		 		 	2003-A, a Delaware statutory trust acting only
		 		 	with respect to the applicable SUBI Portfolio
		 		 	  
 By:
	 	  
 U.S. BANK TRUST NATIONAL

		 		 	ASSOCIATION, a national banking
		 		 	association, not in its individual capacity, but
		 		 	solely as SUBI Trustee

	
	

	
	

 

  

					
	By:	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

 
 

  

	
	 /s/ VICKY EATON

	NOTARY PUBLIC

  
 

 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Bossier City,
Louisiana Store No. 2677 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	 SRC FACILITIES STATUTORY TRUST No.

2003-A, a Delaware statutory trust acting only with
 respect to
the applicable SUBI Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL
		 	ASSOCIATION, a national banking
		 	association, not in its individual capacity,
		 	but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Gretna,
Louisiana Store No. 1286 

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 BE IT KNOWN, that on this 17th day of MARCH, 2016 (but
for reference purposes dated as of             , 20    ), before me, the undersigned Notary Public, duly commissioned and qualified in and for the County
and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 
 SRC Facilities
Statutory Trust No. 2003-A. a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National Association, 190 South LaSalle Street, 7th Floor, Mail Station:
MK-IL-SL7R, Chicago, Illinois 60603 and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized representative, 

who declared that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, and
declare and acknowledge an indebtedness unto: 
 WELLS FARGO BANK, N.A., as Security Trustee for the benefit of the Holders of the Mortgage
Notes referred to above and in such capacity Mortgage, having a mailing address of c/o
                            , and a federal taxpayer identification number of
94-1347393. 
 THUS DONE AND PASSED in the place and on the day and in the month and year
hereinabove written, in the presence of the two undersigned witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Gretna,
Louisiana Store No. 1286 

									
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	 SRC FACILITIES STATUTORY TRUST No.

2003-A, a Delaware statutory trust acting only
 with respect to
the applicable SUBI Portfolio

				
		 		 	By:	 	U.S. BANK TRUST NATIONAL
		 		 	ASSOCIATION, a national banking
		 		 	association, not in its individual capacity, but
		 		 	solely as SUBI Trustee

	
	

	
	

 

  
  

					
	By:	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

 
 

  

	
	 /s/ VICKY EATON

	NOTARY PUBLIC

  
 

 
  

  
 Mortgage, Assignment of Leases and
Rents, 
 Security Agreement and Fixture Filing 
 Gretna,
Louisiana Store No. 1286 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	 SRC FACILITIES STATUTORY TRUST No.

2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL
		 	 ASSOCIATION, a national banking

association, not in its individual capacity,
 but solely as SUBI
Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Metairie, Louisiana
Store No. 1226 

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 BE IT KNOWN, that on this 17th day of MARCH, 2016 (but
for reference purposes dated as of             , 20    ), before me, the undersigned Notary Public, duly commissioned and qualified in and for the County
and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 
 SRC Facilities
Statutory Trust No. 2003-A, a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National Association, 190 South LaSalle Street, 7th Floor, Mail Station:
MK-IL-SL7R, Chicago, Illinois 60603 and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized representative, 

who declared that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, and
declare and acknowledge an indebtedness unto: 
 U.S. BANK TRUST NATIONAL ASSOCIATION, as Security Trustee, and in such capacity Mortgagee,
having a mailing address of c/o U.S. Bank Trust National Association, 190 South LaSalle Street, 7th Floor, Mail Station: MK-IL-SL7R, Chicago, Illinois 60603, and a federal taxpayer identification
number of 41-1973763. 
 THUS DONE AND PASSED in the place and on the day and in the month and year hereinabove written, in the presence of
the two undersigned witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Metairie, Louisiana
Store No. 1226 

									
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	SRC FACILITIES STATUTORY TRUST No.
		 	 	2003-A, a Delaware statutory trust acting only
		 	 	with respect to the applicable SUBI Portfolio
		 	 	  
 By:
	 	  
 U.S. BANK TRUST NATIONAL

		 	 	ASSOCIATION, a national banking
		 	 	association, not in its individual capacity, but
		 	 	solely as SUBI Trustee

	
	

	
	

 

  

					
	By:	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

 
 

  

									
		 	 /s/ VICKY EATON
	 	
		 	NOTARY PUBLIC	 	

  
 

 

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Metairie, Louisiana
Store No. 1226 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	 SRC FACILITIES STATUTORY TRUST No.

2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio

		
	By:	 	 U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking

association, not in its individual capacity,
 but solely as SUBI
Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Monroe, Louisiana
Store No. 1116 

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 BE IT KNOWN, that on this 17th day of MARCH, 2016 (but
for reference purposes dated as of              , 20    ), before me, the undersigned Notary Public, duly commissioned and qualified in and for the County
and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 
 SRC Facilities
Statutory Trust No. 2003-A, a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National Association, 400 N. Michigan Avenue 2nd Floor, Chicago, Illinois 60611,
and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized representative, 
 who declared
that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, and declare and acknowledge an indebtedness unto: 

U.S. BANK TRUST NATIONAL ASSOCIATION, as Security Trustee, and in such capacity Mortgagee, having a mailing address of 400 N. Michigan Avenue,
2nd Floor, Chicago, Illinois 60611, and a federal taxpayer identification number of 41-1973763. 

THUS DONE AND PASSED in the place and on the day and in the month and year hereinabove written, in the presence of the two undersigned
witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Monroe, Louisiana
Store No. 1116 

									
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	SRC FACILITIES STATUTORY TRUST No.
		 	 	2003-A, a Delaware statutory trust acting only
		 	 	with respect to the applicable SUBI Portfolio
		 	 	  
 By:
	 	  
 U.S. BANK TRUST NATIONAL

		 	 	ASSOCIATION, a national banking
		 	 	association, not in its individual capacity, but
		 	 	solely as SUBI Trustee

	
	

	
	

 

  

					
	By:	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

 
 

  

	
	 /s/ VICKY EATON

	NOTARY PUBLIC

  
 

 

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Monroe, Louisiana
Store No. 1116 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

					
	“Mortgagor”
	
	 SRC FACILITIES STATUTORY TRUST No.

2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL
		 	 ASSOCIATION, a national banking

association, not in its individual capacity,
 but solely as SUBI
Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Shreveport,
Louisiana Store No. 1077 

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 BE IT KNOWN, that on this 17th day of MARCH, 2016 (but
for reference purposes dated as of            , 20    ), before me, the undersigned Notary Public, duly commissioned and qualified in and for the County
and State aforesaid, and in the presence of the two undersigned competent witnesses, personally came and appeared: 
 SRC Facilities
Statutory Trust No. 2003-A, a Delaware statutory trust, as Mortgagor, having a mailing address c/o U.S. Bank Trust National Association, 190 South LaSalle Street, 7th Floor, Mail Station:
MK-IL-SL7R, Chicago, Illinois 60603 and having a federal taxpayer identification number of 20-0400527, appearing herein through its undersigned duly authorized representative, 

who declared that Mortgagor does by these presents execute the foregoing Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, and
declare and acknowledge an indebtedness unto: 
 WELLS FARGO BANK, N.A., as Security Trustee, for the benefit of the Holders of the Mortgage
Notes referred to above and in such capacity Mortgagee, having a mailing address of
c/o                            , and a federal taxpayer identification number of 94-1347393 

THUS DONE AND PASSED in the place and on the day and in the month and year hereinabove written, in the presence of the two undersigned
witnesses who hereunto sign their names with Mortgagor and me, Notary, after due reading of the whole. 

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Shreveport,
Louisiana Store No. 1077 

									
	WITNESSES:	 		 	MORTGAGOR:
			
		 		 	SRC FACILITIES STATUTORY TRUST No.
		 	 	2003-A, a Delaware statutory trust acting only
		 	 	with respect to the applicable SUBI Portfolio
		 	 	  
 By:
	 	  
 U.S. BANK TRUST NATIONAL

		 	 	ASSOCIATION, a national banking
		 	 	association, not in its individual capacity, but
		 	 	solely as SUBI Trustee

	
	

	
	

 

  

					
	By:	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

 
 

  

	
	 /s/ VICKY EATON

	NOTARY PUBLIC

  
 

 

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Shreveport,
Louisiana Store No. 1077 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed under seal as of the
date first above written. 
  

							
	Mortgagor:
	
	 SRC FACILITIES STATUTORY TRUST No. 2003-A,

a Delaware statutory trust

		
	By:	 	U.S. Bank Trust National Association, a national
		 	banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA 

		 		 	Title:	 	 VICE PRESIDENT

 STATE OF ILLINOIS 
 COUNTY
OF COOK, SS. 
 In Chicago, in said County and State, on this 17th day of MARCH, 2016,
before me personally appeared JOSE A. GALARZA, a VICE PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, to me known and known by me to be the party executing the foregoing instrument for
and on behalf of U.S. Bank Trust National Association, and he/she acknowledged said instrument by him/her executed to be his/her free act and deed in his/her capacity as aforesaid and the free act and deed of U.S. Bank Trust National Association and
SRC FACILITIES STATUTORY TRUST NO. 2003-A. 
  

			
	 /s/ VICKY EATON

	 Notary Public

	 My commission expires:
	 	 4/17/19

  

			
	

	 	 [SEAL]

  
 Leasehold Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 
 Brockton,
Massachusetts Store No. 1223 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed under seal as of the
date first above written. 
  

							
	Mortgagor:
	
	 SRC FACILITIES STATUTORY TRUST No. 2003-A,

a Delaware statutory trust

		
	By:	 	 U.S. Bank Trust National Association, a national banking association, not in its individual

capacity, but solely as SUBI Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

 STATE OF ILLINOIS 
 COUNTY
OF COOK, SS. 
 In Chicago, in said County and State, on this 17th day of MARCH, 2016,
before me personally appeared JOSE A. GALARZA, a VICE PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, to me known and known by me to be the party executing the foregoing instrument for
and on behalf of U.S. Bank Trust National Association, and he/she acknowledged said instrument by him/her executed to be his/her free act and deed in his/her capacity as aforesaid and the free act and deed of U.S. Bank Trust National Association and
SRC FACILITIES STATUTORY TRUST NO. 2003-A. 
  

			
	 /s/ VICKY EATON

	 Notary Public

	 My commission expires:
	 	 4/17/19

  

			
	

	 	 [SEAL]

  
 Mortgage, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Cambridge,
Massachusetts Store No. 1343 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed under seal as of the
date first above written. 
  

							
	Mortgagor:
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust
		
	By:	 	U.S. Bank Trust National Association, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

 STATE OF ILLINOIS 
 COUNTY
OF COOK, SS. 
 In Chicago, in said County and State, on this 17th day of MARCH, 2016, before me personally appeared JOSE A. GALARZA, a VICE PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, to me known
and known by me to be the party executing the foregoing instrument for and on behalf of U.S. Bank Trust National Association, and he/she acknowledged said instrument by him/her executed to be his/her free act and deed in his/her capacity as
aforesaid and the free act and deed of U.S. Bank Trust National Association and SRC FACILITIES STATUTORY TRUST NO. 2003-A. 
  

			
	 /s/ VICKY EATON

	 Notary Public

	 My commission expires:
	 	 4/17/19

  

			
	

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Marlborough, MA
Store No.1104 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed under seal as of the
date first above written. 
  

							
	Mortgagor:
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust
		
	By:	 	U.S. Bank Trust National Association, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

 STATE OF ILLINOIS 
 COUNTY
OF COOK, SS. 
 In Chicago, in said County and State, on this 17th day of MARCH, 2016,
before me personally appeared JOSE A. GALARZA, a VICE PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, to me known and known by me to be the party executing the foregoing instrument for
and on behalf of U.S. Bank Trust National Association, and he/she acknowledged said instrument by him/her executed to be his/her free act and deed in his/her capacity as aforesaid and the free act and deed of U.S. Bank Trust National Association and
SRC FACILITIES STATUTORY TRUST NO. 2003-A. 
  

			
	 /s/ VICKY EATON

	 Notary Public

	 My commission expires:
	 	 4/17/19

  

			
	

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 N. Attleborough, MA
Store No. 1033 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed under seal as of the
date first above written. 
  

							
	Mortgagor:
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust
		
	By:	 	U.S. Bank Trust National Association, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

 STATE OF ILLINOIS 
 COUNTY
OF COOK, SS. 
 In Chicago, in said County and State, on this 17th day of MARCH, 2016,
before me personally appeared JOSE A. GALARZA, a VICE PRESIDENT of U.S. Bank Trust National Association, as SUBI Trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, to me known and known by me to be the party executing the foregoing instrument for
and on behalf of U.S. Bank Trust National Association, and he/she acknowledged said instrument by him/her executed to be his/her free act and deed in his/her capacity as aforesaid and the free act and deed of U.S. Bank Trust National Association and
SRC FACILITIES STATUTORY TRUST NO. 2003-A. 
  

			
	 /s/ VICKY EATON

	 Notary Public

	 My commission expires:
	 	 4/17/19

  

			
	

	 	 [SEAL]

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Silver City
Galleria, Massachusetts Store No. 2934 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	
                         
                                   , Esq.

	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	 Washington, DC 20005

  
 Mortgage 

Battle Creek, Michigan Store No. 2040 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	
                         
                                   , Esq.

	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	 Washington, DC 20005

  
 Mortgage 

Dearborn, Michigan Store No. 1700 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	
                         
                                   , Esq.

	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	 Washington, DC 20005

  
 Mortgage 

Grandville, Michigan Store No. 1011 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	
                         
                                   , Esq.

	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	 Washington, DC 20005

  
 Mortgage 

Muskegon, Michigan Store No. 1192 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	
                         
                                   , Esq.

	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	 Washington, DC 20005

  
 Mortgage 

Novi, Michigan Store No. 1760 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	
                         
                                   , Esq.

	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	 Washington, DC 20005

  
 Mortgage 

Portage, Michigan Store No. 1110 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	
                         
                                   , Esq.

	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	 Washington, DC 20005

  
 Mortgage 

Sterling Heights, Michigan Store No. 1720 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	                                      
                          , Esq.
	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	Washington, DC 20005

  
 Mortgage 

Traverse City, Michigan Store No. 2180 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	 [SEAL]

  

	
	THIS MORTGAGE WAS PREPARED BY:
	
	                                      
                          , Esq.
	 Pension Benefit Guaranty Corporation

	 1200 K Street, NW

	Washington, DC 20005

  
 Mortgage 

Westland, Michigan Store No. 1092 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On this 17th day of MARCH, 2016, before me appeared JOSE
A. GALARZA, to me personally known, who, being by me duly sworn, did say that he/she is the VICE PRESIDENT of U.S. Bank National Association, a national banking association, [and that the seal affixed to the foregoing instrument is the corporate
seal of said association,] and that said instrument was signed [and sealed] in behalf of said association, by authority of its Board of Directors; and said
                             acknowledged said instrument to be the free act and deed of said
association [and that said association has no corporate seal]. 
 IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed by official
seal in the County and State aforesaid on the day and year first above written. 
  

			
	 /s/ VICKY EATON

	Name (print): VICKY EATON
	Notary Public in and for said State
	Commission Expires:	 	4/17/19
	
	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Cape
Girardeau, Missouri Store No. 1822 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On this 17 day of March, 2016, before me appeared JOSE A. GALARZA, to me personally known, who, being by me duly sworn, did say that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware
statutory trust, and that said instrument was signed on behalf of said statutory trust by authority granted to it and he/she acknowledged said instrument to be the free act and deed of said statutory trust. 

IN WITNESS WHEREOF, I have hereunto set my hand and affixed by notarial seal at my office the day and year last above written. 

 

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 My commission expires:
  

6/3/16
	  	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Chesterfield,
Missouri Store No. 1690 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On this 17 day of March, 2016, before me appeared JOSE A. GALARZA, to me personally known, who being by me
duly sworn, did say that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust, and that said instrument was signed on behalf of said statutory trust by
authority granted to it and he/she acknowledged said instrument to be the free act and deed of said statutory trust. 
 IN WITNESS WHEREOF,
I have hereunto set my hand and affixed by notarial seal at my office the day and year last above written. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 My commission expires:
  

6/3/16
	  	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Joplin,
Missouri Store No. 1042 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On this 17 day of March, 2016, before me appeared JOSE A. GALARZA, to me personally known, who being by me
duly sworn, did say that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust, and that said instrument was signed on behalf of said statutory trust by
authority granted to it and he/she acknowledged said instrument to be the free act and deed of said statutory trust. 
 IN WITNESS WHEREOF,
I have hereunto set my hand and affixed by notarial seal at my office the day and year last above written. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 My commission expires:
  

6/3/16
	  	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Springfield,
Missouri Store No. 1171 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On this 17 day of March, 2016, before me appeared JOSE A. GALARZA, to me personally known, who being by
me duly sworn, did say that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust, and that said instrument was signed on behalf of said statutory trust
by authority granted to it and he/she acknowledged said instrument to be the free act and deed of said statutory trust. 
 IN WITNESS
WHEREOF, I have hereunto set my hand and affixed by notarial seal at my office the day and year last above written. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 My commission expires:
  

6/3/16
	  	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 St. Louis,
Missouri Store No. 1222 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On this 17 day of March, 2016, before me appeared JOSE A. GALARZA, to me personally known, who being by me
duly sworn, did say that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust, and that said instrument was signed on behalf of said statutory trust by
authority granted to it and he/she acknowledged said instrument to be the free act and deed of said statutory trust. 
 IN WITNESS WHEREOF,
I have hereunto set my hand and affixed by notarial seal at my office the day and year last above written. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 My commission expires:
  

6/3/16
	  	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 St. Peters,
Missouri Store No. 1182 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking association,
 not in its
individual capacity, but solely as SUBI
 Trustee

			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Burlington, New
Jersey Store No. 1874 

 CERTIFICATE OF ACKNOWLEDGEMENT 

 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a Notary Public in and for said State, personally
appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and known to me to be VICE PRESIDENT of U.S. Bank Trust National
Association the Trustee of the SRC Facilities Statutory Trust No. 2003-A and acknowledged to me that she executed the same in his/her capacity as the VICE PRESIDENT of the U.S. Bank Trust National Association, the national banking association
described in this instrument, with due authorization from U.S. Bank Trust National Association and that by his/her signature on the instrument, the individual, as the act and deed of U.S. Bank Trust National Association, executed the instrument.

  

			
		 	 /s/ MARY ANN R TURBAK

	

	 	 Notary Public
 My commission
expires: 6/3/16

	 

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Burlington, New
Jersey Store No. 1874 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Lawrenceville, New
Jersey Store No. 1734 

 CERTIFICATE OF ACKNOWLEDGEMENT 

 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a Notary Public in and for said State, personally
appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and known to me to be VICE PRESIDENT of U.S. Bank Trust National
Association the Trustee of the SRC Facilities Statutory Trust No. 2003-A and acknowledged to me that she executed the same in his/her capacity as the VICE PRESIDENT of the U.S. Bank Trust National Association, the national banking association
described in this instrument, with due authorization from U.S. Bank Trust National Association and that by his/her signature on the instrument, the individual, as the act and deed of U.S. Bank Trust National Association, executed the instrument.

  

			
		 	 /s/ MARY ANN R TURBAK

	

	 	 Notary Public
 My commission expires:
6/3/16

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Lawrenceville, New
Jersey Store No. 1734 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Livingston, New
Jersey Store No. 1614 

 CERTIFICATE OF ACKNOWLEDGEMENT 

 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a Notary Public in and for said State, personally
appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and known to me to be VICE PRESIDENT of U.S. Bank Trust National
Association the Trustee of the SRC Facilities Statutory Trust No. 2003-A and acknowledged to me that she executed the same in his/her capacity as the VICE PRESIDENT of the U.S. Bank Trust National Association, the national banking association
described in this instrument, with due authorization from U.S. Bank Trust National Association and that by his/her signature on the instrument, the individual, as the act and deed of U.S. Bank Trust National Association, executed the instrument.

  

			
		 	 /s/ MARY ANN R TURBAK

	

	 	 Notary Public
 My commission expires:
6/3/16

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Livingston, New
Jersey Store No. 1614 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	 SRC FACILITIES STATUTORY TRUST No. 2003-A,

a Delaware statutory trust acting only with respect to
 the
applicable SUBI Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Hamilton Center,
New Jersey Store No. 1554 

 CERTIFICATE OF ACKNOWLEDGEMENT 

 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a Notary Public in and for said State, personally
appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and known to me to be VICE PRESIDENT of U.S. Bank Trust National
Association the Trustee of the SRC Facilities Statutory Trust No. 2003-A and acknowledged to me that she executed the same in his/her capacity as the VICE PRESIDENT of the U.S. Bank Trust National Association, the national banking association
described in this instrument, with due authorization from U.S. Bank Trust National Association and that by his/her signature on the instrument, the individual, as the act and deed of U.S. Bank Trust National Association, executed the
instrument. 
  

			
		 	 /s/ MARY ANN R TURBAK

	

	 	 Notary Public
 My commission expires:
6/3/16

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Hamilton Center,
New Jersey Store No. 1554 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	 SRC FACILITIES STATUTORY TRUST No. 2003-A,

a Delaware statutory trust acting only with respect to
 the
applicable SUBI Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 New Brunswick, New
Jersey Store No. 1314 

 CERTIFICATE OF ACKNOWLEDGEMENT 

 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016 before me, the undersigned, a Notary Public in and for said State, personally
appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and known to me to be VICE PRESIDENT of U.S. Bank Trust National
Association the Trustee of the SRC Facilities Statutory Trust No. 2003-A and acknowledged to me that she executed the same in his/her capacity as the VICE PRESIDENT of the U.S. Bank Trust National Association, the national banking association
described in this instrument, with due authorization from U.S. Bank Trust National Association and that by his/her signature on the instrument, the individual, as the act and deed of U.S. Bank Trust National Association, executed the instrument.

  

			
		 	 /s/ MARY ANN R TURBAK

	

	 	 Notary Public

My commission expires: 6/3/16

	 

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 New Brunswick, New
Jersey Store No. 1314 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	 SRC FACILITIES STATUTORY TRUST No. 2003-A,

a Delaware statutory trust acting only with respect to
 the
applicable SUBI Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Rockaway, New
Jersey Store No. 1764 

 CERTIFICATE OF ACKNOWLEDGEMENT 

 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016 before me, the undersigned, a Notary Public in and for said State, personally
appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and known to me to be VICE PRESIDENT of U.S. Bank Trust National
Association the Trustee of the SRC Facilities Statutory Trust No. 2003-A and acknowledged to me that she executed the same in his/her capacity as the VICE PRESIDENT of the U.S. Bank Trust National Association, the national banking association
described in this instrument, with due authorization from U.S. Bank Trust National Association and that by his/her signature on the instrument, the individual, as the act and deed of U.S. Bank Trust National Association, executed the instrument.

  

					
		 		 	 /s/ MARY ANN R TURBAK

	

	 		 	 Notary Public
 My commission
expires: 6/3/16

	 	 

  
 Mortgage Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Rockaway, New
Jersey Store No. 1764 

 IN WITNESS WHEREOF, Trustor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Trustor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared
JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her
capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ MARY ANN R TURBAK
	 	
		
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Cottonwood,
New Mexico Store No. 1717 

 IN WITNESS WHEREOF, Trustor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Trustor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A,
	a Delaware statutory trust acting only with respect to
	the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL
		 	ASSOCIATION, a national banking association,
		 	not in its individual capacity, but solely as SUBI
		 	Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/ MARY ANN R TURBAK
	 	
		
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Roswell, New
Mexico Store No. 2207 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A,
	a Delaware statutory trust acting only with respect to
	the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL
		 	ASSOCIATION, not in its individual capacity,
		 	but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Concord, North
Carolina Store No. 1165 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A. GALARZA, personally
appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking association, which is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a
Delaware statutory trust, and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said Delaware statutory trust. 

 

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

							
	My commission expires:	 	 6/3/16
	 		 	 

	  
 [AFFIX NOTARIAL SEAL HERE]
	 		 

 NORTH CAROLINA – CABARRUS COUNTY 

The foregoing (or annexed) certificate(s) of
                            , a notary public, is (are) certified to be correct. This is the
     day of             , 20    . 

 

					
	            [name]            , REGISTER OF DEEDS	 	
			
	BY:	 	  
	 	Asst./Deputy

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Concord, North
Carolina Store No. 1165 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A. GALARZA,
personally appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking association, which is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a
Delaware statutory trust, and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said Delaware statutory trust. 

 

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

							
	My commission expires:	 	 6/3/16
	 		 	
			
	[AFFIX NOTARIAL SEAL HERE]	 		 	
			
	

	 		 	

  
 Deed of Trust, Assignment of Leases
and 
 Rents, Security Agreement and Fixture Filing 
 Durham,
North Carolina Store No. 1475 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Fayetteville,
North Carolina Store No. 1405 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A. GALARZA, personally
appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking association, which is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust,
and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said Delaware statutory trust. 

 

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

							
	My commission expires:	 	 6/3/16
	 		 	 

	  
 [AFFIX NOTARIAL SEAL HERE]
	 		 

 The foregoing Certificate(s) of
                        , is (are) certified to be correct. This instrument and this certificate are duly registered at
the date and time and in the Book and Page shown on the first page hereof. 

            [name]            ,
REGISTER OF DEEDS FOR
                                        
COUNTY, 
  

					
	BY:	 	  
	  	Deputy/Assistant – Register of Deeds

  
 Deed of Trust, Assignment of Leases
and 
 Rents, Security Agreement and Fixture Filing 

Fayetteville, North Carolina Store No. 1405 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	 SRC FACILITIES STATUTORY TRUST No. 2003-A,

a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio

		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Greenville,
North Carolina, Store No. 2175 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A. GALARZA, personally
appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking association, which is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust,
and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said Delaware statutory trust. 

 

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

							
	My commission expires:	 	 6/3/16
	 		 	 

	  
 [AFFIX NOTARIAL SEAL HERE]
	 		 

 NORTH CAROLINA, PITT COUNTY 

The foregoing Certificate(s) of
                            , Notary(ies) Public is (are) certified to be correct. Filed for
registration at      o’clock      M. this      day of             ,
20    . 
  

					
	            [name]            , REGISTER OF DEEDS.
			
	BY:	 	  
	 	Deputy/Assistant – Register of Deeds

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Greenville,
North Carolina, Store No. 2175 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A. GALARZA,
personally appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking association, which is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a
Delaware statutory trust, and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said Delaware statutory trust. 

 

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

							
	My commission expires:	 	 6/3/16
	 		 	
			
	[AFFIX NOTARIAL SEAL HERE]	 		 	
			
	

	 		 	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Hickory, North
Carolina Store No. 2515 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A.
GALARZA, personally appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking
association, which is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust, and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said
Delaware statutory trust. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	My commission expires:	 	 6/3/16

	
	[AFFIX NOTARIAL SEAL HERE]

  
         

 

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Raleigh, North
Carolina Store No. 1605 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A.
GALARZA, personally appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national
banking association, which is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust, and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of
said Delaware statutory trust. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	My commission expires:	 	 6/3/16

	
	[AFFIX NOTARIAL SEAL HERE]

  
         

 

  
 Deed of Trust, Assignments of Leases and

 Rents, Security Agreement and Fixture Filing 
 Raleigh, North
Carolina Store No. 1805 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that
JOSE A. GALARZA, personally appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking association, which is the trustee of SRC
FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust, and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said Delaware statutory trust. 

 

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	My commission expires:	 	 6/3/16

	
	[AFFIX NOTARIAL SEAL HERE]

  
     

 

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Wilmington,
North Carolina Store No. 1455 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

							
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 I, MARY ANN R. TURBAK, a Notary Public of said Cook County, Illinois, do hereby certify that JOSE A.
GALARZA, personally appeared before me this day and acknowledged that he/she is the VICE PRESIDENT of U.S. Bank Trust National Association, a national banking association, which
is the trustee of SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust, and that by authority duly given, he/she executed the foregoing instrument on behalf of and as the act of said trustee on behalf of said Delaware statutory
trust. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	My commission expires:	 	 6/3/16

	
	[AFFIX NOTARIAL SEAL HERE]

     

 

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Winston Salem,
North Carolina Store No. 1375 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	SS
	COUNTY OF COOK	  	)	 	

 On this 17 day of March, 2016, before me personally appeared JOSE A. GALARZA, known to me to be
the VICE PRESIDENT, of U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee of SRC Facilities Statutory Trust No. 2003-A, who is described in and who executed
the within and foregoing instrument, and acknowledged that (*he/she*) executed the same as (*his/her*) free act and deed. 
  

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

                         

 

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Grand Forks, North
Dakota Store No. 1712 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 

Cincinnati, Ohio Store No. 1810 

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, by U.S. Bank Trust National Association
not in its individual capacity, but solely as SUBI Trustee, by JOSE A. GALARZA, its VICE PRESIDENT, who acknowledged that he/she did sign the foregoing instrument and that the same is the free act
and deed of said entity and his/her free act and deed individually and as such trustee. 
 IN TESTIMONY WHEREOF, I have hereunto set my hand
and official seal at Chicago, Illinois this 17 day of March, 2016. 
  

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

			
	 

	 	[SEAL]

  

			
	This Instrument Prepared By:	  	
	                                      
                      , Esq.	  	
	Pension Benefit Guaranty Corporation	  	
	1200 K Street, NW	  	
	Washington, DC 20005	  	

  
 Open-End Mortgage, Assignment of
Leases 
 and Rents, Security Agreement and Fixture Filing 

Cincinnati, Ohio Store No. 1810 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 
 Columbus,
Ohio Store No. 1120 

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, by U.S. Bank Trust National Association not in its individual capacity, but solely as SUBI Trustee, by
JOSE A. GALARZA its VICE PRESIDENT who acknowledged that he/she did sign the foregoing instrument and that the same is the free act and deed of said entity and his/her free act and deed individually and as such trustee. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois this 17 day of March, 2016. 

 

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

			
	

	 	[SEAL]

  

			
	This Instrument Prepared By:	  	
	                                      
                      , Esq.	  	
	Pension Benefit Guaranty Corporation	  	
	1200 K Street, NW	  	
	Washington, DC 20005	  	

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 
 Columbus,
Ohio Store No. 1120 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 
  

					
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Open-End Mortgage, Assignment
of Leases 
 and Rents, Security Agreement and Fixture Filing 

Columbus, Ohio Store No. 1210 

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, by U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee, by JOSE A.
GALARZA, its VICE PRESIDENT, who acknowledged that he/she did sign the foregoing instrument and that the same is the free act and deed of said entity and his/her free act and deed individually and as such trustee. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois this 17 day of March, 2016. 

 

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

			
	

	 	[SEAL]

  

			
	This Instrument Prepared By:	  	
	                                      
                      , Esq.	  	
	Pension Benefit Guaranty Corporation	  	
	1200 K Street, NW	  	
	Washington, DC 20005	  	

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 

Columbus, Ohio Store No. 1210 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 
 Mansfield,
Ohio Store No. 2010 

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, by U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee, by JOSE A. GALARZA, its
VICE PRESIDENT, who acknowledged that he/she did sign the foregoing instrument and that the same is the free act and deed of said entity and his/her free act and deed individually and as such trustee. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois this 17 day of March, 2016. 

 

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

			
	

	 	[SEAL]

  

			
	This Instrument Prepared By:	  	
	                                      
                      , Esq.	  	
	Pension Benefit Guaranty Corporation	  	
	1200 K Street, NW	  	
	Washington, DC 20005	  	

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 
 Mansfield,
Ohio Store No. 2010 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 
 North
Olmsted, Ohio Store No. 1710 

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, by U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee, by JOSE A. GALARZA, its
VICE PRESIDENT, who acknowledged that he/she did sign the foregoing instrument and that the same is the free act and deed of said entity and his/her free act and deed individually and as such trustee. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois this 17 day of March, 2016. 

 

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

			
	

	 	[SEAL]

  

			
	This Instrument Prepared By:	  	
	                                      
                      , Esq.	  	
	Pension Benefit Guaranty Corporation	  	
	1200 K Street, NW	  	
	Washington, DC 20005	  	

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 
 North
Olmsted, Ohio Store No. 1710 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 

Springfield, Ohio Store No. 2390 

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, by U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee, by JOSE A. GALARZA, its
VICE PRESIDENT, who acknowledged that he/she did sign the foregoing instrument and that the same is the free act and deed of said entity and his/her free act and deed individually and as such trustee. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois this 17 day of March, 2016. 

 

	
	 /s/ MARY ANN R TURBAK

	 Notary Public

  

			
	

	 	[SEAL]

  

			
	This Instrument Prepared By:	  	
	                                      
                      , Esq.	  	
	Pension Benefit Guaranty Corporation	  	
	1200 K Street, NW	  	
	Washington, DC 20005	  	

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 

Springfield, Ohio Store No. 2390 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
				
		 	By:	 		 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

  
 Open-End Mortgage, Assignment of Leases

 and Rents, Security Agreement and Fixture Filing 

Strongsville, Ohio Store No. 1051 

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 BEFORE ME, a Notary Public in and for said County and State, personally appeared the above-named SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, by U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee, by JOSE A.
GALARZA, its VICE PRESIDENT, who acknowledge that he/she did sign the foregoing instrument and that the same is the free act and deed of said entity and his/her free act and deed individually and as such trustee. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois this 17 day of March, 2016. 

 

					
		 	 /s/ Mary Ann R Turbak

		 	Notary Public
	 This Instrument Prepared By:

                   
                                         
, Esq.
 Pension Benefit Guaranty Corporation
 1200 K Street,
NW
 Washington, DC 20005
	 	  
 

	 	  
 [SEAL]

	 	 
	 	 
	 	 
	 	 

  
 Open-End Mortgage, Assignment of
Leases 
 and Rents, Security Agreement and Fixture Filing 

Strongsville, Ohio Store No. 1051 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 

 

	
	
	
	WITNESSES:
	
	

	  

	
	

 

					
	“Mortgage”
	
	SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
		 		 	
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

		 		 	

 
 

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

	
	 /s/ MARY ANN R. TURBAK

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Anderson, South
Carolina Store No. 2305 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 

 

	
	
	
	WITNESSES:
	
	

	  

	
	 

  

 

					
	“Mortgage”
	
	 SCR FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI
Portfolio

		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
		 		 	
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	 JOSE A. GALARZA

		 	Title:	 	 VICE PRESIDENT

		 		 	

 
 

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	

	 	[SEAL]

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Charleston, South
Carolina Store No. 2855 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 

 

	
	
	WITNESSES:
	
	 

	  

	
	 

 

 

					
	“Mortgage”
	
	 SCR FACILITIES STATUTORY TRUST No.

2003-A, a Delaware statutory trust acting only
 with respect to
the applicable SUBI Portfolio

		
	By:	  	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking
 association, not in its
individual capacity,
 but solely as SUBI Trustee

		  		  	
		  	By: 	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

		  		  	

 
 

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 

	 	[SEAL]

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Greenville, South
Carolina Store No. 1595 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of the date first
above written. 

 

	
	
	WITNESSES:
	
	 

	  

	
	 

 

 

					
	“Mortgage”
	
	 SCR FACILITIES STATUTORY TRUST No.

2003-A, a Delaware statutory trust acting only
 with respect to
the applicable SUBI Portfolio

		
	By:	  	 U.S. BANK TRUST NATIONAL

ASSOCIATION, a national banking
 association, not in its
individual capacity,
 but solely as SUBI Trustee

		  		  	
		  	By: 	  	 /s/ JOSE A. GALARZA

		  	Name:	  	 JOSE A. GALARZA

		  	Title:	  	 VICE PRESIDENT

		  		  	

 
 

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

	
	 /s/ MARY ANN R TURBAK

	Notary Public

  

			
	 

	 	[SEAL]

  
 Mortgage, Assignment of Leases and 

Rents, Security Agreement and Fixture Filing 
 Spartanburg, South
Carolina Store No. 1545 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/    MARY ANN R.
TURBAK        

	 MARY ANN R. TURBAK

	 [print name]

	Notary Public in and for the State of Illinois, residing at Cook County
	 My commissions expires 6/3/16

  

			
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Federal
Way, Washington Store No. 1099 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/    MARY ANN R.
TURBAK        

	 MARY ANN R. TURBAK

	 [print name]

	Notary Public in and for the State of Illinois, residing at Cook County
	 My commissions expires 6/3/16

  

			
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Olympia,
Washington Store No. 2219 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/    MARY ANN R.
TURBAK        

	 MARY ANN R. TURBAK

	 [print name]

	Notary Public in and for the State of Illinois, residing at Cook County
	 My commissions expires 6/3/16

  

			
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Silverdale,
Washington Store No. 2309 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/    MARY ANN R.
TURBAK        

	 MARY ANN R. TURBAK

	 [print name]

	Notary Public in and for the State of Illinois, residing at Cook County
	 My commissions expires 6/3/16

  

			
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Spokane,
Washington Store No. 1029 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/ MARY ANN R. TURBAK

	 MARY ANN R. TURBAK

	[print name]
	 Notary Public in and for the State of Illinois, residing

at Cook County

	My commissions expires 6/3/16

  

			
	 

	 	 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Spokane,
Washington Store No. 1038 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/ MARY ANN R. TURBAK

	 MARY ANN R. TURBAK

	[print name]
	 Notary Public in and for the State of Illinois, residing

at Cook County

	My commissions expires 6/3/16

  

			
	 

	 	 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Tukwila,
Washington Store No. 1139 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

							
	“Mortgagor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 		 	Name:	 	 JOSE A. GALARZA

		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17 day of March, 2016, before me, the undersigned, a notary public in and for said state, personally appeared JOSE A.
GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by
his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 
  

			
	 /s/ MARY ANN R. TURBAK

	 MARY ANN R. TURBAK

	[print name]
	 Notary Public in and for the State of Illinois, residing

at Cook County

	My commissions expires 6/3/16

  

			
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Union Gap,
Washington Store No. 2029 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

					
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, a national banking association not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

  
 STATE OF ILLINOIS 

COUNTY OF COOK 
 Personally appeared before me, the undersigned
authority in and for said county and state, on this 17th day of March, 2016, within my jurisdiction, the within named Jose A. Galarza who acknowledged that she is an Authorized Officer of U.S.
Bank Trust National Association, as trustee of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust, and that for and on behalf of the said trust company and statutory trust, and as its act and deed she executed the above and
foregoing instrument, after first having been duly authorized to do so. 
 Given under my hand and seal this
17th day of March, 2016. 
  

					
	 /s/ VICKY EATON
	  	(NOTARY PUBLIC)	  	

	My commission expires:	  		  
	 4/17/19
	  		  
	[Notarial Seal]	  		  

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Meridian,
Mississippi Store No. 1166 

 IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be duly executed and delivered as of
the date first above written. 
  

					
	“Grantor”
	
	SRC FACILITIES STATUTORY TRUST No. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. Bank Trust National Association, a national banking association not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

 STATE OF ILLINOIS 
 COUNTY
OF COOK 
 Personally appeared before me, the undersigned authority in and for said county and state, on this
17th day of March, 2016, within my jurisdiction, the within named Jose A. Galarza who acknowledged that she is an Authorized Officer of U.S. Bank Trust National Association, as trustee of SRC
FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust, and that for and on behalf of the said trust company and statutory trust, and as its act and deed she executed the above and foregoing instrument, after first having been duly
authorized to do so. 
 Given under my hand and seal this 17th day of March, 2016. 

 

			
	 /s/ VICKY EATON
	  	(NOTARY PUBLIC)
	My commission expires:	  	
		
	 4/17/19
	  	
		
	 [Notarial Seal]
  
	  	
	

	  	

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Hattiesburg,
Mississippi Store No. 1306 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of March, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON

	Notary Public

  

			
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Abilene, Texas
Store No. 1307 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON

	Notary Public

  

					
	

	 	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Amarillo,
Texas Store No. 1387 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	 	
		  	)	 	ss.:
	COUNTY OF COOK	  	)	 	

 On the 17th day of March, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	 	 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Arlington.
Texas Store No. 1437 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of March, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON

	 Notary Public

	  
 

	 	  
 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Austin, Texas
Store No. 1487 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	SS.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of March, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

			
	 /s/ VICKY EATON

	 Notary Public

	  
 

	 	  
 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Baytown, Texas
Store No. 1327 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

					
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Beaumont,
Texas Store No. 1407 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

 

			
	

	  	 [SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Brownsville,
Texas Store No. 2497 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

 

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Cielo Vista,
Texas Store No. 1317 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

 

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 College
Station, Texas Store No. 2547 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

 

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Corpus
Christi, Texas Store No. 1217 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
		 	a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

 

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Denton, Texas
Store No. 2587 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 El Paso, Texas
Store No. 1027 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Fort Worth,
Texas Store No. 1267 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Fort Worth,
Texas Store No. 1447 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Houston, Texas
Store No. 1377 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Houston, Texas
Store No. 1417 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Hurst, Texas
Store No. 1297 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Laredo, Texas
Store No. 2247 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Lewisville,
Texas Store No. 1076 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	 SRC FACILITIES STATUTORY TRUST
 NO.
2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member

			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Longview,
Texas Store No. 2557 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	 SRC FACILITIES STATUTORY TRUST
 NO.
2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member

			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Mesquite,
Texas Store No. 1187 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	 SRC FACILITIES STATUTORY TRUST
 NO.
2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member

			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Pasadena,
Texas Store No. 1176 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Plano, Texas
Store No. 1337 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 San Antonio,
Texas Store No. 1427 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Texas City,
Texas Store No. 2197 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be duly executed and delivered as of
the date first above written. 
  

									
	“Mortgagor”
	
	SRC REAL ESTATE (TX), LP, A Delaware limited partnership
		
	By:	 	 SRC REAL ESTATE HOLDINGS (TX), LLC,

a Delaware limited liability company, its general partner

			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, A Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 		 	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	 JOSE A. GALARZA

		 		 		 	Title:	 	 VICE PRESIDENT

  

					
	STATE OF ILLINOIS	  	)	  	
		  	)	  	ss.:
	COUNTY OF COOK	  	)	  	

 On the 17th day of MARCH, 2016, before me, the undersigned, a notary
public in and for said state, personally appeared JOSE A. GALARZA, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that
he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the instrument. 

 

	
	 /s/ VICKY EATON

	 Notary Public

  

			
	

	  	[SEAL]

  
 Deed of Trust, Assignment of Leases and

 Rents, Security Agreement and Fixture Filing 
 Waco, Texas
Store No. 1367 

 IN WITNESS WHEREOF, Grantor has caused this Indemnity Deed of Trust to be duly executed and
delivered as of the date first above written. 
  

			
	“GRANTOR”
	SRC O.P. CORPORATION, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

  

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 On the      day of             ,
20    , before me, the undersigned, a notary public in and for said state, personally appeared Scott E. Huckins, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name
is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the
instrument. 
  

	
	 /s/ Deann M. Bogner

	 Notary Public

 [SEAL] 
  

         
 Indemnity Deed of Trust, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Bethesda,
Maryland Store No. 1424 

 CERTIFICATION 

The undersigned hereby certifies that the within instrument was prepared by an attorney admitted to practice before the Court of Appeals of
Maryland or under the supervision of an attorney admitted to practice before the Court of Appeals of Maryland or by or on behalf of one of the parties named in the instrument. 

 

	
	  

	Name:

 Indemnity Deed of Trust, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Bethesda,
Maryland Store No. 1424 

 IN WITNESS WHEREOF, Grantor has caused this Indemnity Deed of Trust to be duly executed and
delivered as of the date first above written. 
  

			
	“GRANTOR”
	SRC O.P. CORPORATION, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

  

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 On the      day of             ,
20    , before me, the undersigned, a notary public in and for said state, personally appeared Scott E. Huckins, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is
subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the
instrument. 
  

	
	 /s/ Deann M. Bogner

	Notary Public

 [SEAL] 
  

     
 Indemnity Deed of Trust, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Gaithersburg,
MD Store No. 1754 

 CERTIFICATION 

The undersigned hereby certifies that the within instrument was prepared by an attorney admitted to practice before the Court of Appeals of
Maryland or under the supervision of an attorney admitted to practice before the Court of Appeals of Maryland or by or on behalf of one of the parties named in the instrument. 

 

	
	  

	Name:

 Indemnity Deed of Trust, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Gaithersburg,
MD Store No. 1754 

 IN WITNESS WHEREOF, Grantor has caused this Indemnity Deed of Trust to be duly executed and
delivered as of the date first above written. 
  

			
	“GRANTOR”
	SRC O.P. CORPORATION, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

  

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 On the      day of             ,
20    , before me, the undersigned, a notary public in and for said state, personally appeared Scott E. Huckins, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is
subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the
instrument. 
  

	
	 /s/ Deann M. Bogner

	Notary Public

 [SEAL] 
 

                 
 Indemnity Deed of Trust,
Assignment of Leases 
 and Rents, Security Agreement and Fixture Filing 

Parkville, Maryland Store No. 1854 

 CERTIFICATION 

The undersigned hereby certifies that the within instrument was prepared by an attorney admitted to practice before the Court of Appeals of
Maryland or under the supervision of an attorney admitted to practice before the Court of Appeals of Maryland or by or on behalf of one of the parties named in the instrument. 

 

	
	  

	 Name:

 Indemnity Deed of Trust, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Parkville,
Maryland Store No. 1854 

 IN WITNESS WHEREOF, Grantor has caused this Indemnity Deed of Trust to be duly executed and
delivered as of the date first above written. 
  

			
	“GRANTOR”
	SRC O.P. CORPORATION, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

  

			
	STATE OF ILLINOIS	  	)
		  	) ss.:
	COUNTY OF COOK	  	)

 On the      day of             ,
20    , before me, the undersigned, a notary public in and for said state, personally appeared Scott E. Huckins, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name
is subscribed to the within instrument, and acknowledged to me that he/she executed the same in his/her capacity and that by his/her signature on the instrument the individual or the person upon behalf of which the individual acted executed the
instrument. 
  

	
	 /s/ Deann M. Bogner

	Notary Public

 [SEAL] 
  

             
 Indemnity Deed of Trust, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Waldorf,
Maryland Store No. 1074 

 CERTIFICATION 

The undersigned hereby certifies that the within instrument was prepared by an attorney admitted to practice before the Court of Appeals of
Maryland or under the supervision of an attorney admitted to practice before the Court of Appeals of Maryland or by or on behalf of one of the parties named in the instrument. 

 

	
	  

	 Name:

 Indemnity Deed of Trust, Assignment of Leases 

and Rents, Security Agreement and Fixture Filing 
 Waldorf,
Maryland Store No. 1074 

 Exhibit 16 

Amended RE Organizational Documents 

[See Attached] 

 AMENDED AND RESTATED 

CERTIFICATE OF INCORPORATION 
 OF

 SRC DEPOSITOR CORPORATION 

SRC Depositor Corporation, a Delaware corporation (hereinafter call the “Corporation”), does hereby certify as follows: 

1. The original Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on September 17, 2003 under the
name “SRC Depositor Corporation”. Such Certificate of Incorporation was amended on October 31, 2003 and restated on November 20, 2003. 

2. This Amended and Restated Certificate of Incorporation restates and further amends the Certificate of Incorporation of the Corporation so
as to read in its entirety as set forth in Exhibit A attached hereto and made a part hereof. 
 3. The Amended and Restated
Certificate of Incorporation herein certified was duly adopted in accordance with Sections 242 and 245 of the General Corporation Law of the State of Delaware. 

4. The Amended and Restated Certificate of Incorporation herein certified shall become effective upon filing. 

[Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the Corporation has caused this Amended and Restated Certificate of
Incorporation to be duly executed in its corporate name this 18th day of March, 2016. 
  

			
	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

 [Amended & Restated Certificate of Incorporation (SRC Depositor Corporation)] 

 EXHIBIT A 

AMENDED AND RESTATED 
 CERTIFICATE
OF INCORPORATION 
 OF 
 SRC
DEPOSITOR CORPORATION 
 1. The name of the “Corporation” is SRC Depositor Corporation. 

2. The address of its registered office in the State of Delaware is 1209 Orange Street, in the City of Wilmington, County of New Castle. The name of its
registered agent at such address is The Corporation Trust Company. 
 3. The purpose for which the Corporation is organized is limited to: 

(i) to enter into commercial mortgage loans with certain borrowers; 

(ii) to enter into any mortgages, deeds of trust, security agreements or other documents in connection with commercial mortgage
loans to certain borrowers; 
 (iii) to enter into a Pooling and Servicing Agreement, in the form attached hereto (herein,
together with any amendments, supplements or other modifications thereof, the “Pooling Agreement”) with Sears, Roebuck and Co., as document custodian and master servicer, and Wells Fargo Bank Minnesota, N.A., as trustee; 

(iv) to consummate the transactions contemplated by the Pooling Agreement, including (without limitation) the execution,
delivery and performance of the Pooling Agreement; 
 (v) to enter into such other agreements and instruments as may be
contemplated by the terms and provisions of the Pooling Agreement or necessary or desirable in connection with the consummation of the transactions contemplated thereby or the performance by the Corporation of its obligations thereunder; 

(vi) to maintain deposit, checking, investment and other accounts with financial institutions that are incidental to, or
necessary or convenient for, the accomplishment of the above-mentioned purposes; and 
 (vii) to engage in any lawful act or
activity and to exercise any powers permitted to corporations organized under the General Corporation Law of Delaware that are incidental to, or necessary or convenient for, the accomplishment of the above-mentioned purposes in Clauses 3(i)-(vi).

 4. Capitalized terms used but not otherwise defined herein have the meanings assigned thereto in the Pooling Agreement as in effect as of the date
hereof. 
 5. The total number of shares of stock which the Corporation shall have authority to issue is one thousand (1,000) shares of common stock, $.01
par value per share. 

 6. In furtherance and not in limitation of the powers conferred by statute, the board of directors of the
Corporation (the “Board of Directors”) is expressly authorized to make, adopt, alter, amend or repeal the By-Laws of the Corporation. 
 7. Except
as otherwise provided in the Operative Documents (as hereinafter defined), for so long as any indebtedness remains outstanding under the Loan (as hereinafter defined) or the PBGC Agreement (as hereinafter defined) remains in effect, the Corporation
shall not incur or assume or guaranty any indebtedness or liabilities other than (i) indebtedness or liabilities incurred in the ordinary course of the Corporation’s business that is related to the making of commercial mortgage loans, as
provided in and subject to the terms and provisions of the Loan; and (ii) to the extent constituting indebtedness or a liability, the PBGC UBL Claims (as defined in the PBGC Agreement). For purposes of this Certificate of Incorporation, “PBGC
Agreement” means the Pension Plan Protection and Forbearance Agreement, dated as of March 18, 2016, among Sears Holdings Corporation (“Holdings”), the Corporation, certain other subsidiaries of Holdings and the Pension Benefit
Guaranty Corporation (“PBGC”). 
 8. The number of directors of the Corporation shall be from time to time fixed by, or in the manner provided in,
the By-Laws of the Corporation, but in no event may the number of directors be less than three (3), at least one (1) of which shall be the Independent Director (as hereinafter defined). In the event of the death, incapacity, resignation or
removal of the Independent Director, the Board of Directors shall immediately replace such Independent Director with another Independent Director in accordance with the terms of this Article 8 set forth below. No actions of the Board of
Directors or of the Corporation that require the consent of the Independent Director may be taken in the absence of the Independent Director. 

(a) “Independent Director” means the individual identified on Exhibit 17 of the PBGC Agreement as the independent director of the
Corporation. The Independent Director shall be entitled to vote solely on the following: (A) the authorization of the Corporation to enter into the PBGC Agreement or any other Transaction Document (as defined in the PBGC Agreement); (B) the
commencement of a Voluntary Bankruptcy Event (as defined in the PBGC Agreement) or a Transfer, Pledge or Distribution (as those terms are defined the PBGC Agreement) of all or substantially all of the assets of the Corporation; (C) any amendments to
this Certificate of Incorporation or the By-Laws of the Corporation; or (D) any action that, in the reasonable judgment of the Independent Director (1) may impair the special purpose nature or the bankruptcy-remoteness of the Corporation in any
material respect or (2) would otherwise be in violation of the PBGC Agreement. The Independent Director may be removed, and any successor Independent Director may be appointed, solely to the extent that the existing Independent Director is promptly
replaced by a successor Independent Director set forth on Exhibit 17 of the PBGC Agreement or otherwise expressly approved in writing by PBGC. “Affiliate” shall mean a Person or Persons directly or indirectly, through one or more
intermediaries, controlling, controlled by or under common control with the Person or Persons in question; the term “control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through ownership of voting securities, by contract or otherwise; and the term “Person” shall mean any individual, sole proprietorship, corporation, general partnership, limited partnership,
limited liability company or partnership, joint venture, joint stock

  
 4 

 
company, bank, trust (including any statutory trust), estate, unincorporated organization, any federal, state, county or municipal government (or any agency or political subdivision thereof), any
endowment fund or any other form of entity. 
 (b) Notwithstanding any other provision of this Certificate of Incorporation to the contrary,
and any provision of law that otherwise so empowers the Corporation, the Corporation shall not, so long as any indebtedness remains outstanding under the Loan or the PBGC Agreement remains in effect, do any of the following: (i) dissolve, terminate
or liquidate or consolidate or merge with or into any Person, or, except as expressly permitted by the PBGC Agreement, transfer any assets of the Corporation, (ii) engage in any business or activity other than as set forth in Article 3 of this
Certificate of Incorporation, (iii) take any “Bankruptcy Action” (as hereinafter defined) or (iv) withdraw, resign or disassociate from the Trust or otherwise transfer its beneficial interest in the Trust, in each case without the
unanimous affirmative vote of all of the members of the Board of Directors (including the consent of the Independent Director). 
 (c) For so
long as (i) any portion of that certain secured financing (the “Loan”) provided to the Trust and to SRC Real Estate (TX), LP, a Delaware limited partnership, by the Corporation is outstanding or (ii) the PBGC Agreement remains in effect,
any amendment, alteration, change or repeal of any provision of this Certificate of Incorporation shall require (A) a unanimous vote of all of the members of the Board of Directors (provided that the vote of the Independent Director shall not be
required except in the case of any amendment, alteration, change or repeal of any provision of this Certificate of Incorporation that is materially adverse to the interests of PBGC; it being understood that (1) any amendment, alteration, change or
repeal of Sections 3, 6, 7, 8, 9, 10, or 11 and (2) any other amendment, alteration, change or repeal (including, without limitation, additions of new sections or deletions of existing sections) which may, in the reasonable judgment of the
Independent Director, impair the bankruptcy-remoteness of the Corporation in any material respect, in each case shall be deemed to be materially adverse to the interests of PBGC), and (B) after the securitization of any part of the Loan, receipt of
confirmation from any applicable rating agency in connection with any such securitization that such amendment, alteration, change or repeal will not result in the qualification, withdrawal or downgrade of any securities rating of the Loan, or any
part thereof. Subject to the foregoing, the Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred
upon stockholders herein are granted subject to this reservation. 
 (d) As used herein, the term “Bankruptcy Action” means: 

(i) The Corporation’s commencement of any case or proceeding in respect of the Corporation under any federal or state law relating to
bankruptcy, insolvency, reorganization or relief of debtors; 
 (ii) The institution of any proceedings by the Corporation to have the
Corporation adjudicated as bankrupt or insolvent; 

  
 5 

 (iii) The consent by the Corporation to the institution of bankruptcy or insolvency proceedings
against the Corporation; 
 (iv) The filing by the Corporation of a petition, or the consent by the Corporation to a petition, seeking
reorganization, arrangement, adjustment, winding up, dissolution, composition, liquidation or other relief of the Corporation’s debts under any federal or state law relating to bankruptcy; 

(v) The seeking or consenting by the Corporation to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or custodian for
the Corporation or for all or substantially all of its properties; 
 (vi) The making by the Corporation of an assignment for the benefit of
the Corporation’s creditors; or 
 (vii) The taking by the Corporation of any action in furtherance of any of the foregoing.

(e) As used herein, (i) the term “Operative Documents” means for any site, the participation agreement, the master lease agreement,
the applicable site lease, the Trust Agreement (as hereinafter defined), the applicable SUBI Supplement (as defined in the Trust Agreement) (except in the case of any site located in the State of Maryland), the contribution agreements and the
related rights in the capitalization demand notes, and the applicable loan documents, the applicable existing ground lease (if any), and all other documents or instruments delivered in connection with the transactions contemplated thereby relating
to such site and (ii) the term “Trust Agreement” means the Trust Agreement dated as of October 28, 2003 between U.S. Bank Trust National Association, a national banking association, not in its individual capacity, but solely as owner
trustee (the “Owner Trustee”), and SRC O.P. Corporation, a Delaware corporation (“Owner Participant”), as amended by that certain Amended and Restated Trust Agreement dated as of November 24, 2003 between Owner Trustee and Owner
Participant (as further amended, supplemented, or otherwise modified from time to time. 
 (f) [Reserved] 

(g) For so long as any indebtedness remains outstanding under the Loan or the PBGC Agreement remains in effect, no transfer of any direct or
indirect ownership interest in the Corporation may be made without complying with the applicable provisions of the documents executed and delivered in connection with the Loan and the PBGC Agreement. 

9. The Corporation is to have perpetual existence. 
 10. At all
times, the Corporation shall be required to (a) maintain books and records separate from any other Person; (b) maintain its bank accounts separate from any other Person; (c) not commingle its assets with those of any Person; (d) conduct its own
business in its own name; (e) maintain separate financial statements, showing its assets and liabilities separate and apart from those of any other Person; (f) pay its own liabilities and expenses out of its own funds; (g)

  
 6 

 
observe all corporate and other organizational formalities; (h) maintain an arm’s length relationship with its Affiliates and to enter into transactions with Affiliates only on a
commercially reasonable basis; (i) pay the salaries of its own employees from its own funds and maintain a sufficient number of employees in light of its contemplated business operations (except to the extent of shared employees and overhead, in
which event, clause (m) shall be applicable); (j) not guarantee or become obligated for the debts of any other Person or hold out its credit as being available to satisfy the obligations of others, except for (1) the liabilities, if any, permitted
in any of the documents entered into in connection with the Loan and (2) to the extent constituting the debts or obligations of any other Person, the PBGC UBL Claims; (k) not acquire the obligations or securities of its Affiliates or shareholders
except for the interests in the Trust and the indirect interests in the Corporation; (l) not make loans or advances to any other Person other than the Mortgage Loans (as defined in the Operative Documents) contemplated by the Operative Documents;
(m) allocate fairly and reasonably any overhead expenses that are shared with any Affiliate, including payment for office space and services performed by any employee of any Affiliate; (n) use separate stationery, invoices, and checks bearing its
own name; (o) other than as expressly permitted by the PBGC Agreement, not pledge its assets for the benefit of any other Person; (p) hold itself out as a separate entity; (q) correct any known misunderstanding regarding its separate identity; (r)
not identify itself as a division of any other Person; (s) maintain adequate capital in light of its contemplated business operations; (t) not incur indebtedness other than (1) the transactions contemplated by the Pooling Agreement and (2) to the
extent constituting indebtedness, the PBGC UBL Claims. 
 11. Directors of the Corporation shall have no personal liability to the Corporation or its
stockholders for monetary damages for breach of fiduciary duty as a director, except to the extent now or hereafter required by law. 
 (a)
The Corporation shall indemnify, to the fullest extent permitted from time to time by the DGCL or any other applicable laws as presently or hereafter in effect, any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, including, without limitation, an action by or in the right of the Corporation, by reason of the fact that he is or was a director or officer
of the Corporation or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise (and the Corporation, in the discretion of the board of directors, may
so indemnify a person by reason of the fact that he is or was an employee or agent of the Corporation or is or was serving at the request of the Corporation in any other capacity for or on behalf of the Corporation or was serving at the request of
the Corporation as an employee or agent of another corporation, partnership, joint venture, trust or other enterprise), against any liability or expense actually and reasonably incurred by such person in respect thereof; provided,
however, the Corporation shall be required to indemnify a director or officer of the Corporation in connection with an action, suit or proceeding initiated by such person only if such action, suit or proceeding was authorized by the board of
directors of the Corporation. Such indemnification is not exclusive of any other right to indemnification provided by law or otherwise. The right to indemnification conferred by this paragraph shall be deemed to be a contract between the
Corporation and each person referred to herein. 
 (b) No amendment to or repeal of the provisions of this Article 11 will apply to or have
any effect on the liability or alleged liability of any person for or with respect to any acts or omissions of such person occurring prior to such amendments. 

  
 7 

 12. Subject to the provisions of Articles 7 and 8 above, the Corporation reserves the right to amend, alter,
change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by the DGCL, and all rights conferred upon stockholders herein are granted subject to this reservation. 

13. Notwithstanding any provision of this Certificate of Incorporation to the contrary, the Corporation may consummate the transactions contemplated by the
PBGC Agreement or any of the other Transaction Documents (as defined in the PBGC Agreement). 

  
 8 

 AMENDED AND RESTATED 

CERTIFICATE OF INCORPORATION 
 OF

 SRC O.P. CORPORATION 

SRC O.P. Corporation, a Delaware corporation (hereinafter call the “Corporation”), does hereby certify as follows: 

1. The original Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on September 17, 2003 under the
name “SRC O.P. Corporation”. Such Certificate of Incorporation was amended on October 31, 2003 and restated on November 20, 2003. 

2. This Amended and Restated Certificate of Incorporation restates and further amends the Certificate of Incorporation of the Corporation so
as to read in its entirety as set forth in Exhibit A attached hereto and made a part hereof. 
 3. The Amended and Restated
Certificate of Incorporation herein certified was duly adopted in accordance with Sections 242 and 245 of the General Corporation Law of the State of Delaware. 

4. The Amended and Restated Certificate of Incorporation herein certified shall become effective upon filing. 

[Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the Corporation has caused this Amended and Restated Certificate of
Incorporation to be duly executed in its corporate name this 18th day of March, 2016. 
  

			
	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

 [Amended & Restated Certificate of Incorporation (SRC O.P. Corporation)] 

 EXHIBIT A 

AMENDED AND RESTATED 
 CERTIFICATE
OF INCORPORATION 
 OF 
 SRC
O.P. CORPORATION 
 1. The name of the “Corporation” is SRC O.P. Corporation. 

2. The address of its registered office in the State of Delaware is 1209 Orange Street, in the City of Wilmington, County of New Castle. The name of its
registered agent at such address is The Corporation Trust Company. 
 3. The purpose for which the Corporation is organized is limited to: (a) owning and
holding one or more series of beneficial interest in SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust (the “Trust”), pursuant to the terms and conditions of the Trust Agreement, dated as of October 28, 2003, between
U.S. Bank Trust National Association, a national banking association, not in its individual capacity, but solely as owner trustee (the “Owner Trustee”), and the Corporation, as amended by that certain Amended and Restated Trust Agreement
dated as of November 24, 2003 between Owner Trustee and the Corporation (as further amended, supplemented or otherwise modified from time to time, the “Trust Agreement”), (b) to own, sell, mortgage or lease any of the sites located in the
State of Maryland and (c) transacting any and all lawful business for which a corporation may be organized under the General Corporation Law of the State of Delaware (the “DGCL”) that is incident and necessary and appropriate to the
foregoing. 
 4. The total number of shares of stock which the Corporation shall have authority to issue is one thousand (1,000) shares of common stock,
$.01 par value per share. 
 5. In furtherance and not in limitation of the powers conferred by statute, the board of directors of the Corporation (the
“Board of Directors”) is expressly authorized to make, adopt, alter, amend or repeal the By-Laws of the Corporation. 
 6. Except as otherwise
provided in the Operative Documents (as hereinafter defined), for so long as any indebtedness remains outstanding under the Loan (as hereinafter defined) or the PBGC Agreement (as hereinafter defined) remains in effect, the Corporation shall not
incur or assume or guaranty any indebtedness or liabilities other than (i) indebtedness or liabilities incurred in the ordinary course of the Corporation’s business that is related to the ownership of the beneficial interest in the Trust and in
the sites, as provided in and subject to the terms and provisions of the Loan and (ii) to the extent constituting indebtedness or a liability, the PBGC UBL Claims (as defined in the Pension Plan Protection and Forbearance Agreement, dated as of
March 18, 2016 (the “PBGC Agreement”), among Sears Holdings Corporation (“Holdings”), the Corporation, certain other subsidiaries of Holdings and the Pension Benefit Guaranty Corporation (“PBGC”)). 

7. The number of directors of the Corporation shall be from time to time fixed by, or in the manner provided in, the By-Laws of the Corporation, but in no
event may the number of 

 
directors be less than three (3), at least one (1) of which shall be the Independent Director (as hereinafter defined). In the event of the death, incapacity, resignation or removal of the
Independent Director, the Board of Directors shall immediately replace such Independent Director with another Independent Director in accordance with the terms of this Article 7 set forth below. No actions of the Board of Directors or of the
Corporation that require the consent of the Independent Director may be taken in the absence of the Independent Director. 
 (a)
“Independent Director” means the individual identified on Exhibit 17 of the PBGC Agreement as the independent director of the Corporation. The Independent Director shall be entitled to vote solely on the following: (A) the authorization of
the Corporation to enter into the PBGC Agreement or any other Transaction Document (as defined in the PBGC Agreement); (B) the commencement of a Voluntary Bankruptcy Event (as defined in the PBGC Agreement) or a Transfer, Pledge or Distribution (as
those terms are defined the PBGC Agreement) of all or substantially all of the assets of the Corporation; (C) any amendments to this Certificate of Incorporation or the By-Laws of the Corporation; or (D) any action that, in the reasonable judgment
of the Independent Director (1) may impair the special purpose nature or the bankruptcy-remoteness of the Corporation in any material respect or (2) would otherwise be in violation of the PBGC Agreement. The Independent Director may be removed, and
any successor Independent Director may be appointed, solely to the extent that the existing Independent Director is promptly replaced by a successor Independent Director set forth on Exhibit 17 of the PBGC Agreement or otherwise expressly approved
in writing by PBGC. “Affiliate” shall mean a Person or Persons directly or indirectly, through one or more intermediaries, controlling, controlled by or under common control with the Person or Persons in question; the term
“control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise; and the term
“Person” shall mean any individual, sole proprietorship, corporation, general partnership, limited partnership, limited liability company or partnership, joint venture, joint stock company, bank, trust (including any statutory trust),
estate, unincorporated organization, any federal, state, county or municipal government (or any agency or political subdivision thereof), any endowment fund or any other form of entity. 

(b) Notwithstanding any other provision of this Certificate of Incorporation to the contrary, and any provision of law that otherwise so
empowers the Corporation, the Corporation shall not, so long as any indebtedness remains outstanding under the Loan or the PBGC Agreement remains in effect, do any of the following: (i) dissolve, terminate or liquidate or consolidate or merge with
or into any Person, or, except as expressly permitted by the PBGC Agreement, transfer any assets of the Corporation, (ii) engage in any business or activity other than as set forth in Article 3 of this Certificate of Incorporation, (iii) take any
“Bankruptcy Action” (as hereinafter defined) or (iv) withdraw, resign or disassociate from the Trust or otherwise transfer its beneficial interest in the Trust, in each case without the unanimous affirmative vote of all of the members of
the Board of Directors (including the consent of the Independent Director). 
 (c) For so long as (i) any portion of that certain secured
financing (the “Loan”) provided by SRC Depositor Corporation, its successors and/or assigns (collectively, 

  
 4 

 
“Initial Lender”) to the Corporation is outstanding or (ii) the PBGC Agreement remains in effect, any amendment, alteration, change or repeal of any provision of this Certificate of
Incorporation shall require (A) the consent of the Initial Lender and the PBGC, (B) a unanimous vote of all of the members of the Board of Directors (provided that the vote of the Independent Director shall not be required except in the case of any
amendment, alteration, change or repeal of any provision of this Certificate of Incorporation that is materially adverse to the interests of PBGC; it being understood that (1) any amendment, alteration, change or repeal of Sections 3, 6, 7, 8, 9,
10, or 12 and (2) any other amendment, alteration, change or repeal (including, without limitation, additions of new sections or deletions of existing sections) which may, in the reasonable judgment of the Independent Director, impair the
bankruptcy-remoteness of the Corporation in any material respect, in each case shall be deemed to be materially adverse to the interests of PBGC), and (C) after the securitization of any part of the Loan, receipt of confirmation from any applicable
rating agency in connection with any such securitization that such amendment, alteration, change or repeal will not result in the qualification, withdrawal or downgrade of any securities rating of the Loan, or any part thereof. Subject to the
foregoing, the Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred upon stockholders herein are
granted subject to this reservation. 
 (d) As used herein, the term “Bankruptcy Action” means: 

(i) The Corporation’s commencement of any case or proceeding in respect of the Corporation under any federal or state law relating to
bankruptcy, insolvency, reorganization or relief of debtors; 
 (ii) The institution of any proceedings by the Corporation to have the
Corporation adjudicated as bankrupt or insolvent; 
 (iii) The consent by the Corporation to the institution of bankruptcy or insolvency
proceedings against the Corporation; 
 (iv) The filing by the Corporation of a petition, or the consent by the Corporation to a petition,
seeking reorganization, arrangement, adjustment, winding up, dissolution, composition, liquidation or other relief of the Corporation’s debts under any federal or state law relating to bankruptcy; 

(v) The seeking or consenting by the Corporation to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or custodian for
the Corporation or for all or substantially all of its properties; 
 (vi) The making by the Corporation of an assignment for the benefit of
the Corporation’s creditors; or 
 (vii) The taking by the Corporation of any action in furtherance of any of the foregoing. 

  
 5 

 (e) As used herein, the term “Operative Documents” means for any Site, the
Participation Agreement, the Master Lease Agreement, the applicable Site Lease, the Trust Agreement, the applicable SUBI Supplement (except in the case of any site located in the State of Maryland), the contribution agreements and the related rights
in the Capitalization Demand Notes, and the applicable Loan Documents, the applicable existing ground lease (if any), and all other documents or instruments delivered in connection with the transactions contemplated thereby relating to such Site.
Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed in the Definitions Appendix referenced in the Trust Agreement. 

(f) [Reserved] 
 (g) For so long
as any indebtedness remains outstanding under the Loan or the PBGC Agreement remains in effect, no transfer of any direct or indirect ownership interest in the Corporation may be made without complying with the applicable provisions of the documents
executed and delivered in connection with the Loan and the PBGC Agreement. 
 8. The Corporation is to have perpetual existence. 

9. At all times, the Corporation shall be required to (a) maintain books and records separate from any other Person; (b) maintain its bank accounts separate
from any other Person; (c) not commingle its assets with those of any Person; (d) conduct its own business in its own name; (e) maintain separate financial statements, showing its assets and liabilities separate and apart from those of any other
Person; (f) pay its own liabilities and expenses out of its own funds; (g) observe all corporate and other organizational formalities; (h) maintain an arm’s length relationship with its Affiliates and to enter into transactions with Affiliates
only on a commercially reasonable basis; (i) pay the salaries of its own employees from its own funds and maintain a sufficient number of employees in light of its contemplated business operations (except to the extent of shared employees and
overhead, in which event, clause (m) shall be applicable); (j) other than the Guaranties and Indemnity Deeds of Trust made by the Corporation in favor of SRC Depositor Corporation, not guarantee or become obligated for the debts of any other Person
or hold out its credit as being available to satisfy the obligations of others, except for (1) the liabilities, if any, permitted in any of the documents entered into in connection with the Loan and (2) to the extent constituting the debts or
obligations of any other Person, the PBGC UBL Claims; (k) not acquire the obligations or securities of its Affiliates or shareholders except for the interests in the Trust and the indirect interest in the General Partner and Limited Partnership; (l)
not make loans or advances to any other Person; (m) allocate fairly and reasonably any overhead expenses that are shared with any Affiliate, including payment for office space and services performed by any employee of any Affiliate; (n) use separate
stationery, invoices, and checks bearing its own name; (o) other than as expressly permitted by the PBGC Agreement, not pledge its assets for the benefit of any other Person; (p) hold itself out as a separate entity; (q) correct any known
misunderstanding regarding its separate identity; (r) not identify itself as a division of any other Person; (s) maintain adequate capital in light of its contemplated business operations; and (t) not incur indebtedness other than (i) the Mortgage
Loans relating to the Maryland Sites, (ii) unsecured trade payables no greater than 2% of the aggregate amount of the Mortgage Loans relating to the Maryland Sites and (iii) to the extent constituting indebtedness, the PBGC UBL Claims. 

  
 6 

 10. Directors of the Corporation shall have no personal liability to the Corporation or its stockholders for
monetary damages for breach of fiduciary duty as a director, except to the extent now or hereafter required by law. 
 (a) The Corporation
shall indemnify, to the fullest extent permitted from time to time by the DGCL or any other applicable laws as presently or hereafter in effect, any person who was or is a party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative or investigative, including, without limitation, an action by or in the right of the Corporation, by reason of the fact that he is or was a director or officer of the
Corporation or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise (and the Corporation, in the discretion of the board of directors, may so
indemnify a person by reason of the fact that he is or was an employee or agent of the Corporation or is or was serving at the request of the Corporation in any other capacity for or on behalf of the Corporation or was serving at the request of the
Corporation as an employee or agent of another corporation, partnership, joint venture, trust or other enterprise), against any liability or expense actually and reasonably incurred by such person in respect thereof; provided, however,
the Corporation shall be required to indemnify a director or officer of the Corporation in connection with an action, suit or proceeding initiated by such person only if such action, suit or proceeding was authorized by the board of directors of the
Corporation. Such indemnification is not exclusive of any other right to indemnification provided by law or otherwise. The right to indemnification conferred by this paragraph shall be deemed to be a contract between the Corporation and
each person referred to herein. 
 (b) No amendment to or repeal of the provisions of this Article 10 will apply to or have any effect on the
liability or alleged liability of any person for or with respect to any acts or omissions of such person occurring prior to such amendments. 
 11. If at
any time a Site Lease is terminated as to any particular Site and the related Mortgage Loan is paid in full, the portion of the related Capitalization Demand Note (SRC) with respect to such Site may be cancelled upon the request of the maker of such
note. 
 12. Subject to the provisions of Articles 7 and 8 above, the Corporation reserves the right to amend, alter, change or repeal any provision
contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by the DGCL, and all rights conferred upon stockholders herein are granted subject to this reservation. 

13. Notwithstanding any provision of this Certificate of Incorporation to the contrary, the Corporation may consummate the transactions contemplated by the
PBGC Agreement or any of the other Transaction Documents (as defined in the PBGC Agreement). 

  
 7 

 SRC DEPOSITOR CORPORATION 

BYLAWS 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 Article I. OFFICES
	  	 	1	  
			
	 Section 1.
	  	Registered Office	  	 	1	  
			
	 Section 2.
	  	Other Offices	  	 	1	  
		
	 Article II. MEETINGS OF STOCKHOLDERS
	  	 	1	  
			
	 Section 1.
	  	Place of Meetings	  	 	1	  
			
	 Section 2.
	  	Annual Meeting of Stockholders	  	 	1	  
			
	 Section 3.
	  	Quorum: Adjourned Meetings and Notice Thereof	  	 	1	  
			
	 Section 4.
	  	Voting	  	 	2	  
			
	 Section 5.
	  	Proxies	  	 	2	  
			
	 Section 6.
	  	Special Meetings	  	 	3	  
			
	 Section 7.
	  	Notice of Stockholders’ Meetings	  	 	3	  
			
	 Section 8.
	  	Maintenance and inspection of Stockholder List	  	 	3	  
			
	 Section 9.
	  	Stockholder Action by Written Consent Without a Meeting	  	 	4	  
		
	 Article III. DIRECTORS
	  	 	4	  
			
	 Section 1.
	  	Number and Qualification of Directors	  	 	4	  
			
	 Section 2.
	  	Vacancies	  	 	5	  
			
	 Section 3.
	  	Powers	  	 	5	  
			
	 Section 4.
	  	Place of Directors’ Meetings	  	 	6	  
			
	 Section 5.
	  	Regular Meetings	  	 	6	  
			
	 Section 6.
	  	Special Meetings	  	 	6	  
			
	 Section 7.
	  	Quorum	  	 	6	  
			
	 Section 8.
	  	Action Without Meeting	  	 	6	  
			
	 Section 9.
	  	Telephone Meetings	  	 	7	  
			
	 Section 10.
	  	Committees of Directors	  	 	7	  
			
	 Section 11.
	  	Minutes of Committee Meetings	  	 	8	  
			
	 Section 12.
	  	Compensation of Directors	  	 	8	  
			
	 Section 13.
	  	Indemnification	  	 	8	  
		
	 Article IV. OFFICERS
	  	 	10	  
			
	 Section 1.
	  	Officers	  	 	10	  
			
	 Section 2.
	  	Election of Officers	  	 	10	  
			
	 Section 3.
	  	Subordinate Officers	  	 	10	  
			
	 Section 4.
	  	Compensation of Officers	  	 	10	  

  
 i 

							
			
	 Section 5.
	  	Term of Office; Removal and Vacancies	  	 	10	  
			
	 Section 6.
	  	President	  	 	11	  
			
	 Section 7.
	  	Vice Presidents	  	 	11	  
			
	 Section 8.
	  	Treasurer and Assistant Treasurers	  	 	11	  
			
	 Section 9.
	  	Controller and Assistant Controllers	  	 	12	  
			
	 Section 10.
	  	Secretary	  	 	12	  
			
	 Section 11.
	  	Assistant Secretaries	  	 	12	  
		
	 Article V. CERTIFICATES OF STOCK
	  	 	13	  
			
	 Section 1.
	  	Certificates	  	 	13	  
			
	 Section 2.
	  	Signatures on Certificates	  	 	13	  
			
	 Section 3.
	  	Lost Certificates	  	 	13	  
			
	 Section 4.
	  	Transfers of Stock	  	 	14	  
			
	 Section 5.
	  	Fixing Record Date	  	 	14	  
			
	 Section 6.
	  	Registered Stockholders	  	 	14	  
		
	 Article VI. GENERAL PROVISIONS
	  	 	15	  
			
	 Section 1.
	  	Dividends	  	 	15	  
			
	 Section 2.
	  	Payment of Dividends; Directors’ Duties	  	 	15	  
			
	 Section 3.
	  	Checks	  	 	15	  
			
	 Section 4.
	  	Fiscal Year	  	 	15	  
			
	 Section 5.
	  	Corporate Seal	  	 	15	  
			
	 Section 6.
	  	Manner of Giving Notice	  	 	15	  
			
	 Section 7.
	  	Waiver of Notice	  	 	16	  
		
	 Article VII. AMENDMENTS.
	  	 	16	  
			
	 Section 1.
	  	Amendment by Directors or Stockholders	  	 	16	  

  
 ii 

 SRC DEPOSITOR CORPORATION, 

a Delaware corporation (the “Company”) 

ARTICLE I. 
 OFFICES

 Section 1. Registered Office. The registered office for the purpose of service of process shall be 1209 Orange St.,
Wilmington, Delaware 19801. The principal place of business shall be 3333 Beverly Road, Hoffman Estates, Illinois 60179, or at such other place as the board of directors may from time to time determine or the business of the Company may require.

 Section 2. Other Offices. The Company may also have offices at such other places both within and without the State of Delaware as
the board of directors may from time to time determine or the business of the Company may require. 
 ARTICLE II. 

MEETINGS OF STOCKHOLDERS 

Section 1. Place of Meetings. All meetings of the stockholders shall be held at any place within or without the State of Delaware as
shall be designated from time to time by the board of directors. In the absence of any such designation, stockholders’ meetings shall be held at the principal executive office of the Company. 

Section 2. Annual Meeting of Stockholders. An annual meeting of stockholders shall be held each year on a date and at a time designated
by the board of directors. At each annual meeting directors shall be elected and any other proper business may be transacted. 
 Section 3.
Quorum: Adjourned Meetings and Notice Thereof. A majority of the stock issued and outstanding and entitled to vote at any meeting of stockholders, the holders of 

  
 1 

 
which are present in person or represented by proxy, shall constitute a quorum for the transaction of business except as otherwise provided by law, by the Certificate of Incorporation, or by
these Bylaws. A quorum, once established, shall not be broken by the withdrawal of enough votes to leave less than a quorum and the votes present may continue to transact business until adjournment. If, however, such quorum shall not be present or
represented at any meeting of the stockholders, a majority of the voting stock represented in person or by proxy may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or
represented. At such adjourned meeting at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally notified. If the adjournment is for more than thirty days, or if
after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote thereat. 

Section 4. Voting. When a quorum is present at any meeting, the vote of the holders of a majority of the stock having voting power
present in person or represented by proxy shall decide any question brought before such meeting, unless the question is one upon which by express provision of law, or the Certificate of Incorporation, or these Bylaws, a different vote is required,
in which case such express provision shall govern and control the decision of such question. 
 Section 5. Proxies. At each
meeting of the stockholders, each stockholder having the right to vote may vote in person or may authorize another person or persons to act for him by proxy appointed by an instrument in writing subscribed by such stockholder and bearing a date not
more than three years prior to said meeting, unless said instrument provides for a longer period. All proxies must be filed with the secretary of the Company at the beginning of each meeting in order to be counted in any vote at the meeting. Each
stockholder shall have one vote 

  
 2 

 
for each share of stock having voting power, registered in his name on the books of the Company on the record date set by the board of directors as provided in Article V, Section 6 hereof. All
elections shall be had and all questions decided by a plurality vote. 
 Section 6. Special Meetings. Special meetings of the
stockholders for any purpose, or purposes, unless otherwise prescribed by statute or by the Certificate of Incorporation, may be called by the president and shall be called by the president or the secretary at the request in writing of a majority of
the board of directors, or at the request in writing of stockholders owning a majority in amount of the entire capital stock of the Company issued and outstanding, and entitled to vote. Such request shall state the purpose or purposes of the
proposed meeting. Business transacted at any special meeting of stockholders shall be limited to the purposes stated in the notice. 

Section 7. Notice of Stockholders’ Meetings. Whenever stockholders are required or permitted to take any action at a
meeting, a written notice of the meeting shall be given, which notice shall state the place, date and hour of the meeting, and, in the case of a special meeting, the purpose or purposes for which the meeting is called. The written notice of any
meeting shall be given to each stockholder entitled to vote at such meeting not less than ten nor more than sixty days before the date of the meeting. If mailed, notice is given when deposited in the United States mail, postage prepaid, directed to
the stockholder at his address as it appears on the records of the Company. 
 Section 8. Maintenance and inspection of Stockholder
List. The officer who has charge of the stock ledger of the Company shall prepare and make, at least ten days before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical
order, and showing the address of each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of 

  
 3 

 
any stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten days prior to the meeting, either at a place within the city where the
meeting is to be held, which place shall be specified in the notice of the meeting, or, if not so specified, at the place where the meeting is to be held. The list shall also be produced and kept at the time and place of the meeting during the whole
time thereof, and may be inspected by any stockholder who is present. 
 Section 9. Stockholder Action by Written Consent Without a
Meeting. Unless otherwise provided in the Certificate of Incorporation, any action required to be taken at any annual or special meeting of stockholders of the Company, or any action which may be taken at any annual or special meeting of such
stockholders, may be taken without a meeting, without prior notice and without a vote, if a consent in writing, setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes
that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted. Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent
shall be given to those stockholders who have not consented in writing. 
 ARTICLE III. 

DIRECTORS 
 Section 1.
Number and Qualification of Directors. The board of directors shall consist of a minimum of three (3) and a maximum of ten (10) directors, at least one (1) of which shall be the Independent Director (as defined in the Certificate of
Incorporation). The number of directors shall be fixed or changed from time to time, within the minimum and maximum, by the then appointed directors. The number of directors which shall constitute the initial board shall be four (4). The directors
need not be stockholders. Except as provided in 

  
 4 

 
Section 2 of this Article III, (i) the directors shall be elected at the annual meeting of the stockholders, and (ii) each director shall hold office until his successor is elected and qualified;
provided, however, that unless otherwise restricted by the Certificate of Incorporation or by law, any director or the entire board of directors may be removed, either with or without cause, from the board of directors at any meeting of stockholders
by a majority of the stock represented and entitled to vote thereat. 
 Section 2. Vacancies. Except for any vacancy with
respect to the Independent Director, vacancies on the board of directors by reason of death, resignation, retirement, disqualification, removal from office, or otherwise, and newly created directorships resulting from any increase in the authorized
number of directors may be filled by a majority of the directors then in office, although less than a quorum. The directors so chosen shall hold office until the next annual election of directors and until their successors are duly elected and shall
qualify, or until their earlier resignation or removal. If there are no directors in office, then an election of directors may be held in the manner provided by statute, except with respect to the Independent Director. If, at the time of filling any
vacancy (except any vacancy with respect to the Independent Director) or any newly created directorship, the directors then in office shall constitute less than a majority of the whole board (as constituted immediately prior to any such increase),
the Court of Chancery may, upon application of any stockholder or stockholders holding at least ten percent of the total number of the shares at the time outstanding having the right to vote for such directors, summarily order an election to be held
to fill any such vacancies or newly created directorships, or to replace the directors chosen by the directors then in office. 
 Section 3.
Powers. The property and business of the Company shall be managed by or under the direction of its board of directors. In addition to the powers and authorities by these Bylaws expressly conferred upon them, the board of directors may
exercise 

  
 5 

 
all such powers of the Company and do all such lawful acts and things as are not by statute or by the Certificate of Incorporation or by these Bylaws directed or required to be exercised or done
by the stockholders. 
 Section 4. Place of Directors’ Meetings. The directors may hold their meetings and have
one or more offices, and keep the books of the Company outside of the State of Delaware. 
 Section 5. Regular Meetings. Regular
meetings of the board of directors may be held without notice at such time and place as shall from time to time be determined by the board. 

Section 6. Special Meetings. Special meetings of the board of directors may be called by the president, or the secretary at the request
of the president or any vice president of the Company on twenty-four hours’ notice to each director, either personally or by telephone, telefax, mail or e-mail; special meetings shall be called by the president or the secretary in like manner
and on like notice on the written request of two directors. 
 Section 7. Quorum. At all meetings of the board of directors
fifty percent of the authorized number of directors shall be necessary and sufficient to constitute a quorum for the transaction of business, and the vote of a majority of the directors present at any meeting at which there is a quorum shall be the
act of the board of directors, except as may be otherwise specifically provided by statute, by the Certificate of Incorporation or by these Bylaws. If a quorum shall not be present at any meeting of the board of directors, the directors present
thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present. 

Section 8. Action Without Meeting. Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, any action required
or permitted to be taken at any 

  
 6 

 
meeting of the board of directors or of any committee thereof may be taken without a meeting, if all members of the board of directors or committee, as the case may be, consent thereto in
writing, and the writing or writings are filed with the minutes of proceedings of the board of directors or committee. 
 Section 9.
Telephone Meetings. Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, members of the board of directors, or any committee designated by the board of directors, may participate in a meeting of the board of
directors, or any committee, by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person
at such meeting. 
 Section 10. Committees of Directors. The board of directors may, by resolution passed by a majority of the whole
board of directors, designate one or more committees, each such committee to consist of one or more of the directors of the Company. The board of directors may designate one or more directors as alternate members of any committee, who may replace
any absent or disqualified member at any meeting of the committee. In the absence or disqualification of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they
constitute a quorum, may unanimously appoint another member of the board of directors to act at the meeting in the place of any such absent or disqualified member. Except to any extent otherwise provided in the Certificate of Incorporation, any such
committee, to the extent provided in a resolution of the board of directors, shall have and may exercise all the powers and authority of the board of directors in the management of the business and affairs of the Company, and may authorize the seal
of the Company to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to (i) approving or adopting, or recommending to the 

  
 7 

 
stockholders, any action or matter expressly required by the Delaware General Corporation Law to be submitted to stockholders for approval or (ii) adopting, amending or repealing any Bylaw of the
Company. 
 Section 11. Minutes of Committee Meetings. Each committee shall keep regular minutes of its meetings and report the same
to the board of directors when required. 
 Section 12. Compensation of Directors. Unless otherwise restricted by the Certificate of
Incorporation or these Bylaws, the board of directors shall have the authority to fix the compensation of directors. The directors may be paid their expenses, if any, of attendance at each meeting of the board of directors and may be paid a fixed
sum for attendance at each meeting of the board of directors or a stated salary as director. No such payment shall preclude any director from serving the Company in any other capacity and receiving compensation therefor. Members of special or
standing committees may be allowed like compensation for attending committee meetings. 
 Section 13. Indemnification. The Company
shall indemnify every person who was or is a party or is or was threatened to be made a party to any action, suit, or proceeding, whether civil, criminal, administrative or investigative (including an action by or in the right of the Company), by
reason of the fact that he is or was a director, officer or employee of the Company or, while a director, officer or employee of the Company, is or was serving at the request of the Company as a director, officer, employee, agent or trustee of
another Company, partnership, joint venture, trust, employee benefit plan or other enterprise, against expenses (including counsel fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such
action, suit or proceeding, to the full extent permitted by applicable law. Expenses incurred by a person who is or was a director or officer of the Company in appearing at, participating in or defending any such action, suit or proceeding shall be
paid by 

  
 8 

 
the Company at reasonable intervals in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay such
amount if it shall ultimately be determined that he is not entitled to be indemnified by the Company as authorized by this Section 13. If a claim under this Section 13 is not paid in full by the Company within ninety days after a written claim has
been received by the Company, the claimant may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim and, if successful in whole or in part, the claimant shall be paid also the expense of prosecuting such
claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in advance of its final disposition where the required undertaking, if any is required, has been
tendered to the Company) that the claimant has not met the standards of conduct which make it permissible under the Delaware General Corporation Law or other applicable law for the Company to indemnify the claimant for the amount claimed, but the
burden of proving such defense shall be on the Company. Neither the failure of the Company (including its board of directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such action that
indemnification of the claimant is proper in the circumstances because he has met the applicable standard of conduct set forth in the Delaware General Corporation Law or other applicable law, nor an actual determination by the Company (including its
board of directors, independent legal counsel, or its stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of
conduct. 

  
 9 

 ARTICLE IV. 

OFFICERS 
 Section 1.
Officers. The officers of the Company shall be chosen by the board of directors and shall include a president, a vice president, a treasurer and a secretary. The Company may also have, at the discretion of the board of directors, such other
officers as are desired, including one or more vice presidents, one or more assistant treasurers, one or more assistant secretaries, and such other officers as may be appointed in accordance with the provisions of Section 3 of this Article IV. In
the event there are two or more vice presidents, then one or more may have special designations such as executive vice president, senior vice president, or some other similar or dissimilar title. At the time of the election of officers, the
directors may by resolution determine the order of their rank. Any number of offices may be held by the same person, unless the Certificate of Incorporation or these Bylaws otherwise provide. 

Section 2. Election of Officers. The board of directors, at its first meeting after each annual meeting of stockholders, shall choose
the officers of the Company. 
 Section 3. Subordinate Officers. The board of directors may appoint such other officers and
agents, as it shall deem necessary, who shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the board of directors. 

Section 4. Compensation of Officers. The salaries of all officers and agents of the Company shall be fixed by the board of
directors. 
 Section 5. Term of Office; Removal and Vacancies. The officers of the Company shall hold office until their
successors are chosen and qualify in their stead. Any officer elected or appointed by the board of directors may be removed at any time, either with or without cause, by the board of directors. If the office of any officer or officers becomes vacant
for any reason, the vacancy may be filled by the board of directors. 

  
 10 

 Section 6. President. The president shall have general direction over the day-to-day
business of the Company, subject to the control of the board of directors. He shall be the chief executive officer of the Company. He shall be an ex-officio member of all committees and shall have the general powers and duties of management usually
vested in the office of president and chief executive officer of corporations, and shall have such other powers and duties as may be prescribed by the board of directors or these Bylaws. The president shall preside at meetings of the stockholders
and of the board of directors. 
 Section 7. Vice Presidents. Each vice president shall have such powers and perform such duties
as from time to time may be assigned to him or her by the board of directors or be delegated to him or her by the president. In the absence or incapacity of the president, the powers, duties and functions of the president shall be temporarily
performed by such one of the vice presidents as shall be designated by the board of directors or, if not designated by the board of directors, by the president. 

Section 8. Treasurer and Assistant Treasurers. The treasurer shall have responsibility for the custody and safekeeping of all
funds and securities of the Company; shall make disbursements of Company funds upon appropriate vouchers and supervise the handling of balances and maintain proper relationships with banks; shall keep full and accurate accounts of the transactions
of his or her office in books belonging to the Company and render to the board of directors, whenever it may require, an account of his or her transactions as treasurer; and in general shall have such other powers and perform such other duties as
are incident to the office of treasurer and as from time to time may be prescribed by the board of directors or the president. 

  
 11 

 Section 9. Controller and Assistant Controllers. The controller shall have general charge,
control, and supervision over the accounting and auditing affairs of the Company. The controller or such persons as the controller shall designate shall have responsibility for the custody and safekeeping of all permanent records and papers of the
Company. The controller shall have responsibility for the preparation and maintenance of the books of account and of the accounting records and papers of the Company; shall supervise the preparation of all financial statements and reports on the
operation and condition of the business; shall have responsibility for the establishment of financial procedures, records, and forms used by the Company; shall have responsibility for the filing of all financial reports and returns, except tax
returns, required by law; shall render to the president, or the board of directors, whenever they may require, an account of the controller’s transactions; and in general shall have such other powers and perform such other duties as are
incident to the office of controller and as from time to time may be prescribed by the board of directors or the president. 
 Section 10.
Secretary. The secretary shall record the proceedings of the meetings of the stockholders and directors in a book to be kept for that purpose; and shall perform like duties for the standing committees when required by the board of directors.
The secretary shall give, or cause to be given, notice of all meetings of the stockholders and of the board of directors, and shall perform such other duties as may be prescribed by the board of directors or these Bylaws. The secretary shall keep in
safe custody the seal of the Company, and affix the same to any instrument requiring it, and when so affixed it shall be attested by his or her signature or by the signature of an assistant secretary. The board of directors may give general
authority to any other officer to affix the seal of the Company and to attest the affixing by his or her signature. 
 Section 11.
Assistant Secretaries. The assistant secretary, or if there be more than one, the assistant secretaries in the order determined by the board of directors, or if there be 

  
 12 

 
no such determination, the assistant secretary designated by the board of directors, shall, in the absence or disability of the secretary, perform the duties and exercise the powers of the
secretary and shall perform such other duties and have such other powers as the board of directors may from time to time prescribe. 

ARTICLE V. 

CERTIFICATES OF STOCK 

Section 1. Certificates. Every holder of stock of the Company shall be entitled to have a certificate signed by, or in the name of the
Company by, the president or a vice president, and by the secretary or an assistant secretary, or the treasurer or an assistant treasurer of the Company, certifying the number of shares represented by the certificate owned by such stockholder in the
Company. 
 Section 2. Signatures on Certificates. Any or all of the signatures on the certificate may be a facsimile. In case any
officer, transfer agent, or registrar who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent, or registrar before such certificate is issued, it may be issued by the
Company with the same effect as if he were such officer, transfer agent, or registrar at the date of issue. 
 Section 3. Lost
Certificates. The board of directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the Company alleged to have been lost, stolen or destroyed, upon the making of an
affidavit of that fact by the person claiming the certificate of stock to be lost, stolen or destroyed. When authorizing such issue of a new certificate or certificates, the board of directors may, in its discretion and as a condition precedent to
the issuance thereof, require the owner of such lost, stolen or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and/or to give the Company a bond in such sum as it may
direct as indemnity against any claim that may be made against the Company with respect to the certificate alleged to have been lost, stolen or destroyed. 

  
 13 

 Section 4. Transfers of Stock. Upon surrender to the Company, or the transfer agent of the
Company, of a certificate for shares duly endorsed or accompanied by proper evidence of succession, assignment or authority to transfer, it shall be the duty of the Company to issue a new certificate to the person entitled thereto, cancel the old
certificate and record the transaction upon its books. 
 Section 5. Fixing Record Date. In order that the Company may determine the
stockholders entitled to notice of or to vote at any meeting of the stockholders, or any adjournment thereof, or to express consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the board of directors may fix a record date which shall not be more
than sixty nor less than ten days before the date of such meeting, nor more than sixty days prior to any other action. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any
adjournment of the meeting; provided, however, that the board of directors may fix a new record date for the adjourned meeting. 
 Section
6. Registered Stockholders. The Company shall be entitled to treat the holder of record of any share or shares of stock as the holder in fact thereof and accordingly shall not be bound to recognize any equitable or other claim or
interest in such share on the part of any other person, whether or not it shall have express or other notice thereof, save as expressly provided by the laws of the State of Delaware. 

  
 14 

 ARTICLE VI. 

GENERAL PROVISIONS 

Section 1. Dividends. Dividends upon the capital stock of the Company, subject to the provisions of the Certificate of Incorporation,
if any, may be declared by the board of directors at any regular or special meeting, pursuant to law. Dividends may be paid in cash, in property, or in shares of the capital stock, subject to the provisions of the Certificate of Incorporation. 

Section 2. Payment of Dividends; Directors’ Duties. Before payment of any dividend there may be set aside out of any
funds of the Company available for dividends such sum or sums as the directors from time to time, in their absolute discretion, think proper as a reserve fund to meet contingencies, or for equalizing dividends, or for repairing or maintaining any
property of the Company, or for such other purpose as the directors shall think conducive to the interests of the Company, and the directors may abolish any such reserve. 

Section 3. Checks. All checks or demands for money and notes of the Company shall be signed by such officer or officers as the board of
directors may from time to time designate. 
 Section 4. Fiscal Year. The fiscal year of the Company shall be fixed by resolution of
the board of directors. 
 Section 5. Corporate Seal. The corporate seal shall have inscribed thereon the name of the Company and the
words “Corporate Seal, Delaware”. Said seal may be used by causing it or a facsimile thereof to be impressed, affixed or otherwise reproduced. 

Section 6. Manner of Giving Notice. Whenever, under the provisions of the Certificate of Incorporation or of these Bylaws or as
required by law, notice is required to be given to any director or stockholder, it shall not be construed to mean personal notice, but such 

  
 15 

 
notice may be given in writing, by mail, addressed to such director or stockholder, at his address as it appears on the records of the Company, with postage thereon prepaid, and such notice shall
be deemed to be given at the time when the same shall be deposited in the United States mail. Notice to directors may also be given by telegram, e-mail or as otherwise provided herein. 

Section 7. Waiver of Notice. Whenever any notice is required to be given by law or under the provisions of the Certificate of
Incorporation or of these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto. 

ARTICLE VII. 

AMENDMENTS; CONFLICTS. 

Section 1. Amendment by Directors or Stockholders. Except for this Article VII, these Bylaws may be altered, amended or repealed or new
Bylaws may be adopted by the stockholders or by the board of directors, when such power is conferred upon the board of directors by the Certificate of Incorporation, at any regular meeting of the stockholders or of the board of directors or at any
special meeting of the stockholders or of the board of directors if notice of such alteration, amendment, repeal or adoption of new Bylaws be contained in the notice of such special meeting. If the power to adopt, amend or repeal these Bylaws is
conferred upon the board of directors by the Certificate of Incorporation it shall not divest or limit the power of the stockholders to adopt, amend or repeal these Bylaws. 

Section 2. Conflict with Certificate of Incorporation. Notwithstanding anything to the contrary set forth in these Bylaws, in the
event that any provision of these Bylaws is inconsistent or otherwise in conflict with the provisions of the Certificate of Incorporation (as amended, restated, supplemented or otherwise modified from time to time), the Certificate of Incorporation
(as amended, restated, supplemented or otherwise modified from time to time) shall control. 

  
 16 

 SRC O.P. CORPORATION 

BYLAWS 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 Article I OFFICES
	  	 	1	  
			
	 Section 1.
	  	Registered Office	  	 	1	  
			
	 Section 2.
	  	Other Offices	  	 	1	  
		
	 Article II MEETINGS OF STOCKHOLDERS
	  	 	1	  
			
	 Section 1.
	  	Place of Meetings	  	 	1	  
			
	 Section 2.
	  	Annual Meeting of Stockholders	  	 	1	  
			
	 Section 3.
	  	Quorum; Adjourned Meetings and Notice Thereof	  	 	1	  
			
	 Section 4.
	  	Voting	  	 	2	  
			
	 Section 5.
	  	Proxies	  	 	2	  
			
	 Section 6.
	  	Special Meetings	  	 	3	  
			
	 Section 7.
	  	Notice of Stockholders’ Meetings	  	 	3	  
			
	 Section 8.
	  	Maintenance and Inspection of Stockholder List	  	 	3	  
			
	 Section 9.
	  	Stockholder Action by Written Consent Without a Meeting	  	 	4	  
		
	 Article III DIRECTORS
	  	 	4	  
			
	 Section 1.
	  	Number and Qualification of Directors	  	 	4	  
			
	 Section 2.
	  	Vacancies	  	 	5	  
			
	 Section 3.
	  	Powers	  	 	6	  
			
	 Section 4.
	  	Place of Directors’ Meetings	  	 	6	  
			
	 Section 5.
	  	Regular Meetings	  	 	6	  
			
	 Section 6.
	  	Special Meetings	  	 	6	  
			
	 Section 7.
	  	Quorum	  	 	6	  
			
	 Section 8.
	  	Action Without Meeting	  	 	7	  
			
	 Section 9.
	  	Telephone Meetings	  	 	7	  
			
	 Section 10.
	  	Committees of Directors	  	 	7	  
			
	 Section 11.
	  	Minutes of Committee Meetings	  	 	8	  
			
	 Section 12.
	  	Compensation of Directors	  	 	8	  
			
	 Section 13.
	  	Indemnification	  	 	8	  
		
	 Article IV OFFICERS
	  	 	10	  
			
	 Section 1.
	  	Officers	  	 	10	  
			
	 Section 2.
	  	Election of Officers	  	 	10	  
			
	 Section 3.
	  	Subordinate Officers	  	 	10	  
			
	 Section 4.
	  	Compensation of Officers	  	 	10	  

  
 i 

							
	 Section 5.
	  	Term of Office: Removal and Vacancies	  	 	11	  
			
	 Section 6.
	  	President	  	 	11	  
			
	 Section 7.
	  	Vice Presidents	  	 	11	  
			
	 Section 8.
	  	Treasurer and Assistant Treasurers	  	 	11	  
			
	 Section 9.
	  	Controller and Assistant Controllers	  	 	12	  
			
	 Section 10.
	  	Secretary	  	 	12	  
			
	 Section 11.
	  	Assistant Secretaries	  	 	13	  
		
	 Article V
	  	 	13	  
			
	 Section 1.
	  	Certificates	  	 	13	  
			
	 Section 2.
	  	Signatures on Certificates	  	 	13	  
			
	 Section 3.
	  	Lost Certificates	  	 	13	  
			
	 Section 4.
	  	Transfers of Stock	  	 	14	  
			
	 Section 5.
	  	Fixing Record Date	  	 	14	  
			
	 Section 6.
	  	Registered Stockholders	  	 	15	  
		
	 Article VI GENERAL PROVISIONS
	  	 	15	  
			
	 Section 1.
	  	Dividends	  	 	15	  
			
	 Section 2.
	  	Payment of Dividends Directors’ Duties	  	 	15	  
			
	 Section 3.
	  	Checks	  	 	15	  
			
	 Section 4.
	  	Fiscal Year	  	 	15	  
			
	 Section 5.
	  	Corporate Seal	  	 	16	  
			
	 Section 6.
	  	Manner of Giving Notice	  	 	16	  
			
	 Section 7.
	  	Waiver of Notice	  	 	16	  
		
	 Article VII AMENDMENTS
	  	 	16	  
			
	 Section 1.
	  	Amendment by Directors or Stockholders	  	 	16	  

  
 ii 

 SRC O.P. CORPORATION, 

a Delaware corporation (the “Company”) 

ARTICLE I 
 OFFICES

 Section 1. Registered Office. The registered office for the purpose of service of process shall be 1209 Orange St.,
Wilmington, Delaware 19801. The principal place of business shall be 3333 Beverly Road, Hoffman Estates, Illinois 60179, or at such other place as the board of directors may from time to time determine or the business of the Company may require.

 Section 2. Other Offices. The Company may also have offices at such other places both within and without the State of Delaware as
the board of directors may from time to time determine or the business of the Company may require. 
 ARTICLE II 

MEETINGS OF STOCKHOLDERS 

Section 1. Place of Meetings. All meetings of the stockholders shall be held at any place within or without the State of Delaware as
shall be designated from time to time by the board of directors. In the absence of any such designation, stockholders’ meetings shall be held at the principal executive office of the Company. 

Section 2. Annual Meeting of Stockholders. An annual meeting of stockholders shall be held each year on a date and at a time designated
by the board of directors. At each annual meeting directors shall be elected and any other proper business may be transacted. 
 Section 3.
Quorum; Adjourned Meetings and Notice Thereof. A majority of the stock issued and outstanding and entitled to vote at any meeting of stockholders, the holders 

  
 1 

 
of which are present in person or represented by proxy, shall constitute a quorum for the transaction of business except as otherwise provided by law, by the Certificate of Incorporation, or by
these Bylaws. A quorum, once established, shall not be broken by the withdrawal of enough votes to leave less than a quorum and the votes present may continue to transact business until adjournment. If, however, such quorum shall not be present or
represented at any meeting of the stockholders, a majority of the voting stock represented in person or by proxy may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or
represented. At such adjourned meeting at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally notified. If the adjournment is for more than thirty days, or if
after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote thereat. 

Section 4. Voting. When a quorum is present at any meeting, the vote of the holders of a majority of the stock having voting power
present in person or represented by proxy shall decide any question brought before such meeting, unless the question is one upon which by express provision of law, or the Certificate of Incorporation, or these Bylaws, a different vote is required,
in which case such express provision shall govern and control the decision of such question. 
 Section 5. Proxies. At each meeting
of the stockholders, each stockholder having the right to vote may vote in person or may authorize another person or persons to act for him by proxy appointed by an instrument in writing subscribed by such stockholder and bearing a date not more
than three years prior to said meeting, unless said instrument provides for a longer period. All proxies must be filed with the secretary of the Company at the beginning of 

  
 2 

 
each meeting in order to be counted in any vote at the meeting. Each stockholder shall have one vote for each share of stock having voting power, registered in his name on the books of the
Company on the record date set by the board of directors as provided in Article V, Section 6 hereof. All elections shall be had and all questions decided by a plurality vote. 

Section 6. Special Meetings. Special meetings of the stockholders for any purpose, or purposes, unless otherwise prescribed by statute
or by the Certificate of Incorporation, may be called by the president and shall be called by the president or the secretary at the request in writing of a majority of the board of directors, or at the request in writing of stockholders owning a
majority in amount of the entire capital stock of the Company issued and outstanding, and entitled to vote. Such request shall state the purpose or purposes of the proposed meeting. Business transacted at any special meeting of stockholders shall be
limited to the purposes stated in the notice. 
 Section 7. Notice of Stockholders’ Meetings. Whenever
stockholders are required or permitted to take any action at a meeting, a written notice of the meeting shall be given, which notice shall state the place, date and hour of the meeting, and, in the case of a special meeting, the purpose or purposes
for which the meeting is called. The written notice of any meeting shall be given to each stockholder entitled to vote at such meeting not less than ten nor more than sixty days before the date of the meeting. If mailed, notice is given when
deposited in the United States mail, postage prepaid, directed to the stockholder at his address as it appears on the records of the Company. 

Section 8. Maintenance and Inspection of Stockholder List. The officer who has charge of the stock ledger of the Company shall prepare
and make, at least ten days before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting, 

  
 3 

 
arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any
stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten days prior to the meeting, either at a place within the city where the meeting is to be held, which place shall be specified in the
notice of the meeting, or, if not so specified, at the place where the meeting is to be held. The list shall also be produced and kept at the time and place of the meeting during the whole time thereof, and may be inspected by any stockholder who is
present. 
 Section 9. Stockholder Action by Written Consent Without a Meeting. Unless otherwise provided in the Certificate of
Incorporation, any action required to be taken at any annual or special meeting of stockholders of the Company, or any action which may be taken at any annual or special meeting of such stockholders, may be taken without a meeting, without prior
notice and without a vote, if a consent in writing, setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a
meeting at which all shares entitled to vote thereon were present and voted. Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have not consented in
writing. 
 ARTICLE III 

DIRECTORS 
 Section 1.
Number and Qualification of Directors. The board of directors shall consist of a minimum of three (3) and a maximum of ten (10) directors, at least one (1) of which shall be the Independent Director (as defined in the Certificate of
Incorporation). The number of directors shall be fixed or changed from time to time, within the minimum and 

  
 4 

 
maximum, by the then appointed directors. The number of directors which shall constitute the initial board shall be five (5). The directors need not be stockholders. Except as provided in Section
2 of this Article III, (i) the directors shall be elected at the annual meeting of the stockholders, and (ii) each director shall hold office until his successor is elected and qualified; provided, however, that unless otherwise restricted by the
Certificate of Incorporation or by law, any director or the entire board of directors may be removed, either with or without cause, from the board of directors at any meeting of stockholders by a majority of the stock represented and entitled to
vote thereat. 
 Section 2. Vacancies. Except for any vacancy with respect to the Independent Director, vacancies on the board of
directors by reason of death, resignation, retirement, disqualification, removal from office, or otherwise, and newly created directorships resulting from any increase in the authorized number of directors may be filled by a majority of the
directors then in office, although less than a quorum. The directors so chosen shall hold office until the next annual election of directors and until their successors are duly elected and shall qualify, or until their earlier resignation or
removal. If, at the time of filling any vacancy (except any vacancy with respect to the Independent Director) or any newly created directorship, the directors then in office shall constitute less than a majority of the whole board (as constituted
immediately prior to any such increase), the Court of Chancery may, upon application of any stockholder or stockholders holding at least ten percent of the total number of the shares at the time outstanding having the right to vote for such
directors, summarily order an election to be held to fill any such vacancies or newly created directorships, or to replace the directors chosen by the directors then in office. 

  
 5 

 Section 3. Powers. The property and business of the Company shall be managed by or
under the direction of its board of directors. In addition to the powers and authorities by these Bylaws expressly conferred upon them, the board of directors may exercise all such powers of the Company and do all such lawful acts and things as are
not by statute or by the Certificate of Incorporation or by these Bylaws directed or required to be exercised or done by the stockholders. 

Section 4. Place of Directors’ Meetings. The directors may hold their meetings and have one or more offices,
and keep the books of the Company outside of the State of Delaware. 
 Section 5. Regular Meetings. Regular meetings of the board of
directors may be held without notice at such time and place as shall from time to time be determined by the board. 
 Section 6. Special
Meetings. Special meetings of the board of directors may be called by the president, or the secretary at the request of the president or any vice president of the Company on twenty-four hours’ notice to each director, either personally or
by telephone, telefax, mail or e-mail; special meetings shall be called by the president or the secretary in like manner and on like notice on the written request of two directors. 

Section 7. Quorum. At all meetings of the board of directors fifty percent of the authorized number of directors shall be necessary and
sufficient to constitute a quorum for the transaction of business, and the vote of a majority of the directors present at any meeting at which there is a quorum shall be the act of the board of directors, except as may be otherwise specifically
provided by statute, by the Certificate of Incorporation or by these Bylaws. If a quorum shall not be present at any meeting of the board of directors, the directors present thereat may adjourn the meeting from time to time, without notice other
than announcement at the meeting, until a quorum shall be present. 

  
 6 

 Section 8. Action Without Meeting. Unless otherwise restricted by the Certificate of
Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the board of directors or of any committee thereof may be taken without a meeting, if all members of the board of directors or committee, as the case may
be, consent thereto in writing, and the writing or writings are filed with the minutes of proceedings of the board of directors or committee. 

Section 9. Telephone Meetings. Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, members of the
board of directors, or any committee designated by the board of directors, may participate in a meeting of the board of directors, or any committee, by means of conference telephone or other communications equipment by means of which all persons
participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at such meeting. 

Section 10. Committees of Directors. The board of directors may, by resolution passed by a majority of the whole board of
directors, designate one or more committees, each such committee to consist of one or more of the directors of the Company. The board of directors may designate one or more directors as alternate members of any committee, who may replace any absent
or disqualified member at any meeting of the committee. In the absence or disqualification of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they constitute a
quorum, may unanimously appoint another member of the board of directors to act at the meeting in the place of any such absent or disqualified member. Except to any extent otherwise provided in the 

  
 7 

 
Certificate of Incorporation, any such committee, to the extent provided in a resolution of the board of directors, shall have and may exercise all the powers and authority of the board of
directors in the management of the business and affairs of the Company, and may authorize the seal of the Company to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to (i) approving
or adopting, or recommending to the stockholders, any action or matter expressly required by the Delaware General Corporation Law to be submitted to stockholders for approval or (ii) adopting, amending or repealing any Bylaw of the Company. 

Section 11. Minutes of Committee Meetings. Each committee shall keep regular minutes of its meetings and report the same to the
board of directors when required. 
 Section 12. Compensation of Directors. Unless otherwise restricted by the Certificate of
Incorporation or these Bylaws, the board of directors shall have the authority to fix the compensation of directors. The directors may be paid their expenses, if any, of attendance at each meeting of the board of directors and may be paid a fixed
sum for attendance at each meeting of the board of directors or a stated salary as director. No such payment shall preclude any director from serving the Company in any other capacity and receiving compensation therefor. Members of special or
standing committees may be allowed like compensation for attending committee meetings. 
 Section 13. Indemnification. The
Company shall indemnify every person who was or is a party or is or was threatened to be made a party to any action, suit, or proceeding, whether civil, criminal, administrative or investigative (including an action by or in the right of the
Company), by reason of the fact that he is or was a director, officer or employee of the Company or, while a director, officer or employee of the Company, is or was serving at the 

  
 8 

 
request of the Company as a director, officer, employee, agent or trustee of another Company, partnership, joint venture, trust, employee benefit plan or other enterprise, against expenses
(including counsel fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding, to the full extent permitted by applicable law. Expenses incurred by a person who
is or was a director or officer of the Company in appearing at, participating in or defending any such action, suit or proceeding shall be paid by the Company at reasonable intervals in advance of the final disposition of such action, suit or
proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the Company as authorized by this Section 13. If a claim
under this Section 13 is not paid in full by the Company within ninety days after a written claim has been received by the Company, the claimant may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim and,
if successful in whole or in part, the claimant shall be paid also the expense of prosecuting such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in
advance of its final disposition where the required undertaking, if any is required, has been tendered to the Company) that the claimant has not met the standards of conduct which make it permissible under the Delaware General Corporation Law or
other applicable law for the Company to indemnify the claimant for the amount claimed, but the burden of proving such defense shall be on the Company. Neither the failure of the Company (including its board of directors, independent legal counsel,
or its stockholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because he has met the applicable standard of conduct set forth in the Delaware General

  
 9 

 
Corporation Law or other applicable law, nor an actual determination by the Company (including its board of directors, independent legal counsel, or its stockholders) that the claimant has not
met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of conduct. 

ARTICLE IV 
 OFFICERS.

 Section 1. Officers. The officers of the Company shall be chosen by the board of directors and shall include a president,
a vice president, a treasurer and a secretary. The Company may also have, at the discretion of the board of directors, such other officers as are desired, including one or more vice presidents, one or more assistant treasurers, one or more assistant
secretaries, and such other officers as may be appointed in accordance with the provisions of Section 3 of this Article IV. In the event there are two or more vice presidents, then one or more may have special designations such as executive vice
president, senior vice president, or some other similar or dissimilar title. At the time of the election of officers, the directors may by resolution determine the order of their rank. Any number of offices may be held by the same person, unless the
Certificate of Incorporation or these Bylaws otherwise provide. 
 Section 2. Election of Officers. The board of directors, at
its first meeting after each annual meeting of stockholders, shall choose the officers of the Company. 
 Section 3. Subordinate
Officers. The board of directors may appoint such other officers and agents, as it shall deem necessary, who shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to
time by the board of directors. 
 Section 4. Compensation of Officers. The salaries of all officers and agents of the Company
shall be fixed by the board of directors. 

  
 10 

 Section 5. Term of Office: Removal and Vacancies. The officers of the Company shall
hold office until their successors are chosen and qualify in their stead. Any officer elected or appointed by the board of directors may be removed at any time, either with or without cause, by the board of directors. If the office of any officer or
officers becomes vacant for any reason, the vacancy may be filled by the board of directors. 
 Section 6. President. The
president shall have general direction over the day-to-day business of the Company, subject to the control of the board of directors. He shall be the chief executive officer of the Company. He shall be an ex-officio member of all committees and
shall have the general powers and duties of management usually vested in the office of president and chief executive officer of corporations, and shall have such other powers and duties as may be prescribed by the board of directors or these Bylaws.
The president shall preside at meetings of the stockholders and of the board of directors. 
 Section 7. Vice Presidents. Each
vice president shall have such powers and perform such duties as from time to time may be assigned to him or her by the board of directors or be delegated to him or her by the president. In the absence or incapacity of the president, the powers,
duties and functions of the president shall be temporarily performed by such one of the vice presidents as shall be designated by the board of directors or, if not designated by the board of directors, by the president. 

Section 8. Treasurer and Assistant Treasurers. The treasurer shall have responsibility for the custody and safekeeping of all
funds and securities of the Company; shall make disbursements of Company funds upon appropriate vouchers and supervise the handling of balances and maintain proper relationships with banks; shall keep full and accurate accounts of the transactions
of his or her office in books belonging to the Company and render to the board 

  
 11 

 
of directors, whenever it may require, an account of his or her transactions as treasurer; and in general shall have such other powers and perform such other duties as are incident to the office
of treasurer and as from time to time may be prescribed by the board of directors or the president. 
 Section 9. Controller and
Assistant Controllers. The controller shall have general charge, control, and supervision over the accounting and auditing affairs of the Company. The controller or such persons as the controller shall designate shall have responsibility for the
custody and safekeeping of all permanent records and papers of the Company. The controller shall have responsibility for the preparation and maintenance of the books of account and of the accounting records and papers of the Company; shall supervise
the preparation of all financial statements and reports on the operation and condition of the business; shall have responsibility for the establishment of financial procedures, records, and forms used by the Company; shall have responsibility for
the filing of all financial reports and returns, except tax returns, required by law; shall render to the president, or the board of directors, whenever they may require, an account of the controller’s transactions; and in general shall have
such other powers and perform such other duties as are incident to the office of controller and as from time to time may be prescribed by the board of directors or the president. 

Section 10. Secretary. The secretary shall record the proceedings of the meetings of the stockholders and directors in a book to
be kept for that purpose; and shall perform like duties for the standing committees when required by the board of directors. The secretary shall give, or cause to be given, notice of all meetings of the stockholders and of the board of directors,
and shall perform such other duties as may be prescribed by the board of directors or these Bylaws. The secretary shall keep in safe custody the seal of the Company, and affix the same to any instrument requiring it, and when so affixed it shall be
attested by his or her 

  
 12 

 
signature or by the signature of an assistant secretary. The board of directors may give general authority to any other officer to affix the seal of the Company and to attest the affixing by his
or her signature. 
 Section 11. Assistant Secretaries. The assistant secretary, or if there be more than one, the assistant
secretaries in the order determined by the board of directors, or if there be no such determination, the assistant secretary designated by the board of directors, shall, in the absence or disability of the secretary, perform the duties and exercise
the powers of the secretary and shall perform such other duties and have such other powers as the board of directors may from time to time prescribe. 

ARTICLE V 
 CERTIFICATES OF
STOCK 
 Section 1. Certificates. Every holder of stock of the Company shall be entitled to have a certificate signed by, or
in the name of the Company by, the president or a vice president, and by the secretary or an assistant secretary, or the treasurer or an assistant treasurer of the Company, certifying the number of shares represented by the certificate owned by such
stockholder in the Company. 
 Section 2. Signatures on Certificates. Any or all of the signatures on the certificate may be a
facsimile. In case any officer, transfer agent, or registrar who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent, or registrar before such certificate is issued, it may
be issued by the Company with the same effect as if he were such officer, transfer agent, or registrar at the date of issue. 
 Section 3.
Lost Certificates. The board of directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the Company alleged to have been lost, stolen or destroyed, upon the
making of an affidavit of 

  
 13 

 
that fact by the person claiming the certificate of stock to be lost, stolen or destroyed. When authorizing such issue of a new certificate or certificates, the board of directors may, in its
discretion and as a condition precedent to the issuance thereof, require the owner of such lost, stolen or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and/or to give
the Company a bond in such sum as it may direct as indemnity against any claim that may be made against the Company with respect to the certificate alleged to have been lost, stolen or destroyed. 

Section 4. Transfers of Stock. Upon surrender to the Company, or the transfer agent of the Company, of a certificate for shares
duly endorsed or accompanied by proper evidence of succession, assignment or authority to transfer, it shall be the duty of the Company to issue a new certificate to the person entitled thereto, cancel the old certificate and record the transaction
upon its books. 
 Section 5. Fixing Record Date. In order that the Company may determine the stockholders entitled to notice of
or to vote at any meeting of the stockholders, or any adjournment thereof, or to express consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or
entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the board of directors may fix a record date which shall not be more than sixty nor less than ten days before
the date of such meeting, nor more than sixty days prior to any other action. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however,
that the board of directors may fix a new record date for the adjourned meeting. 

  
 14 

 Section 6. Registered Stockholders. The Company shall be entitled to treat the holder
of record of any share or shares of stock as the holder in fact thereof and accordingly shall not be bound to recognize any equitable or other claim or interest in such share on the part of any other person, whether or not it shall have express or
other notice thereof, save as expressly provided by the laws of the State of Delaware. 
 ARTICLE VI 

GENERAL PROVISIONS 

Section 1. Dividends. Dividends upon the capital stock of the Company, subject to the provisions of the Certificate of
Incorporation, if any, may be declared by the board of directors at any regular or special meeting, pursuant to law. Dividends may be paid in cash, in property, or in shares of the capital stock, subject to the provisions of the Certificate of
Incorporation. 
 Section 2. Payment of Dividends; Directors’ Duties. Before payment of any dividend there
may be set aside out of any funds of the Company available for dividends such sum or sums as the directors from time to time, in their absolute discretion, think proper as a reserve fund to meet contingencies, or for equalizing dividends, or for
repairing or maintaining any property of the Company, or for such other purpose as the directors shall think conducive to the interests of the Company, and the directors may abolish any such reserve. 

Section 3. Checks. All checks or demands for money and notes of the Company shall be signed by such officer or officers as the
board of directors may from time to time designate. 
 Section 4. Fiscal Year. The fiscal year of the Company shall be fixed by
resolution of the board of directors. 

  
 15 

 Section 5. Corporate Seal. The corporate seal shall have inscribed thereon the name of the
Company and the words “Corporate Seal, Delaware”. Said seal may be used by causing it or a facsimile thereof to be impressed, affixed or otherwise reproduced. 

Section 6. Manner of Giving Notice. Whenever, under the provisions of the Certificate of Incorporation or of these Bylaws or as
required by law, notice is required to be given to any director or stockholder, it shall not be construed to mean personal notice, but such notice may be given in writing, by mail, addressed to such director or stockholder, at his address as it
appears on the records of the Company, with postage thereon prepaid, and such notice shall be deemed to be given at the time when the same shall be deposited in the United States mail. Notice to directors may also be given by telegram, e-mail or as
otherwise provided herein. 
 Section 7. Waiver of Notice. Whenever any notice is required to be given by law or under the provisions
of the Certificate of Incorporation or of these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto. 

ARTICLE VII 
 AMENDMENTS;
CONFLICTS 
 Section 1. Amendment by Directors or Stockholders. Except for this Article VII, these Bylaws may be altered,
amended or repealed or new Bylaws may be adopted by the stockholders or by the board of directors, when such power is conferred upon the board of directors by the Certificate of Incorporation, at any regular meeting of the stockholders or of the
board of directors or at any special meeting of the stockholders or of the board of directors if notice of such alteration, amendment, repeal or adoption of new Bylaws be contained in the notice of such special meeting. If the power to adopt, amend
or repeal these Bylaws is conferred upon the board of directors by the Certificate of Incorporation it shall not divest or limit the power of the stockholders to adopt, amend or repeal these Bylaws. 

  
 16 

 Section 2. Conflict with Certificate of Incorporation. Notwithstanding anything to
the contrary set forth in these Bylaws, in the event that any provision of these Bylaws is inconsistent or otherwise in conflict with the provisions of the Certificate of Incorporation (as amended, restated, supplemented or otherwise modified from
time to time), the Certificate of Incorporation (as amended, restated, supplemented or otherwise modified from time to time) shall control. 

  
 17 

 EXECUTION VERSION 
  

 
  

SECOND AMENDED AND RESTATED TRUST AGREEMENT

(SRC Facilities Statutory Trust No. 2003-A)  

Dated as of March 18, 2016 

between 
 SRC O.P.
CORPORATION,
 as Owner Participant and Initial Beneficiary  

and 
 U.S. BANK TRUST NATIONAL
ASSOCIATION,
 as UTI Trustee and Owner Trustee  
  

 
 Lease Financing of Various Sears,
Roebuck and Co. Retail Stores 
  
  

 

 Table of Contents 

 

					
	 	  	 	  	 Page

	ARTICLE I
	OWNER TRUSTEE’S AUTHORIZATIONS AND DIRECTIONS
			
	Section 1.1.	  	Creation of Trust	  	4
	Section 1.2.	  	Authorization to Execute and Perform Certain Documents	  	5
	Section 1.3.	  	General Authorization and Agreement	  	5
	Section 1.4.	  	Amendment and Restatement	  	6
	Section 1.5.	  	Power and Authority	  	6
	
	ARTICLE II
	DECLARATION OF TRUSTS
			
	Section 2.1.	  	Declaration of Trusts	  	6
	
	ARTICLE III
	ACCEPTANCE BY TRUSTEES
			
	Section 3.1.	  	Acceptance by Trustees	  	8
	
	ARTICLE IV
	BENEFICIAL INTERESTS IN TRUST
			
	Section 4.1.	  	Undivided Trust Interest	  	9
	Section 4.2.	  	Special Units of Beneficial Interest	  	10
	Section 4.3.	  	Form of Certificate; Registration of Certificates	  	12
	Section 4.4.	  	Mutilated, Destroyed, Lost or Stolen Certificates	  	13
	Section 4.5.	  	Transfer of Sites	  	14
	Section 4.6.	  	Certain Restrictions on Transfer	  	14
	
	ARTICLE V
	INITIAL BENEFICIARY’S AND TRUST CERTIFICATEHOLDERS’ AGREEMENTS
			
	Section 5.1.	  	Exculpatory Provisions	  	15
	Section 5.2.	  	Indemnification of the UTI Trustee	  	15
	Section 5.3.	  	Payment of Fees, Costs and Expenses of the UTI Trustee	  	16
	Section 5.4.	  	Indemnification of the Owner Trustee; Payment of Fees, Costs and Expenses	  	17
	Section 5.5.	  	Not Acting in Individual Capacity	  	18
	Section 5.6.	  	Interpretation of Trust Agreement	  	18
	Section 5.7.	  	Books, Records and Tax Returns	  	19
	
	ARTICLE VI
	TRUSTEE’S AGREEMENTS
			
	Section 6.1.	  	Execution and Delivery of Documents and Performance of Obligations	  	19
	Section 6.2.	  	Receipt of Investments and Application Thereof	  	19
	Section 6.3.	  	Receipt of Funds Pursuant to Master Lease or Otherwise and Distribution Thereof	  	19
	Section 6.4.	  	Method of Payment	  	20
	Section 6.5.	  	Notice of Certain Events	  	20

  

Trust Agreement 

  
 i 

					
	Section 6.6.	  	Take Certain Action Upon Instructions	  	21
	Section 6.7.	  	Limitation of Trustee’s Responsibilities	  	21
	Section 6.8.	  	Management of the Trust Estate	  	22
	Section 6.9.	  	Certain Statutory Trust Covenants of the Trustees	  	22
	
	ARTICLE VII
	CONCERNING THE TRUSTEE
			
	Section 7.1.	  	Standard of Care	  	23
	Section 7.2.	  	No Duties of Maintenance, Etc	  	23
	Section 7.3.	  	Representations and Warranties	  	24
	Section 7.4.	  	Reliance on Writings, Use of Agents, Etc	  	25
	Section 7.5.	  	Trustee Liability	  	25
	
	ARTICLE VIII
	EFFECT OF SALES BY TRUSTEE
			
	Section 8.1.	  	Effect of Sales by Trustee	  	26
	
	ARTICLE IX
	RESIGNATION AND REMOVAL OF TRUSTEE; APPOINTMENT
	OF SUCCESSORS; CO-TRUSTEE
			
	Section 9.1.	  	Resignation; Successor Trustee	  	27
	Section 9.2.	  	Acceptance of Appointment	  	29
	Section 9.3.	  	Qualification of Successor Trustee	  	29
	Section 9.4.	  	Merger of Trustee	  	30
	Section 9.5.	  	Status of Successor Trustee	  	30
	Section 9.6.	  	Co-Trustee	  	30
	Section 9.7.	  	No Petition	  	30
	Section 9.8.	  	Change of Trustee/Massachusetts	  	31
	
	ARTICLE X
	TRANSFER OF TRUST CERTIFICATEHOLDER’S INTEREST
			
	Section 10.1.	  	Restrictions on Transfer or Assignment	  	31
	Section 10.2.	  	Notice of Transfer	  	33
	
	ARTICLE XI
	TERMINATION OF AND AMENDMENT TO TRUST
			
	Section 11.1.	  	Dissolution	  	33
	Section 11.2.	  	Termination of Trust Agreement	  	34
	Section 11.3.	  	Termination Upon Election After Lease Term	  	34
	Section 11.4.	  	Distribution of the Trust Estate Upon Termination	  	35
	Section 11.5.	  	Certificate of Cancellation	  	35
	Section 11.6.	  	Supplements and Amendments to this Trust Agreement and Other Documents	  	35
	Section 11.7.	  	Limitations on Rights of Others	  	36
	Section 11.8.	  	Termination of UTI Series or SUBI Series	  	36

  

Trust Agreement 

  
 ii 

					
	
	ARTICLE XII
	TRUST CERTIFICATES
			
	Section 12.1.	  	Intentionally Omitted	  	 37

	Section 12.2.	  	Pledge of Rights to Distributions	  	 37

	Section 12.3.	  	Intentionally Omitted	  	 37

	
	ARTICLE XIII
	MISCELLANEOUS
			
	Section 13.1.	  	Entire Agreement	  	 37

	Section 13.2.	  	Distributions	  	 37

	Section 13.3.	  	Transfer	  	 37

	Section 13.4.	  	Capitalization Note Termination	  	 37

	Section 13.5.	  	Notices	  	 37

	Section 13.6.	  	Situs of Trust; Governing Law; Consent to Jurisdiction	  	 38

	Section 13.7.	  	Non-Segregation of Moneys	  	 38

	Section 13.8.	  	Survival of Representations and Warranties	  	 38

	Section 13.9.	  	Severability of Invalid Provisions	  	 38

	Section 13.10.	  	Effect of Waiver	  	39
	Section 13.11.	  	Remedies Not Exclusive	  	 39

	Section 13.12.	  	References to Agreements and Instruments	  	 39

	Section 13.13.	  	Headings and Table of Contents	  	 39

	Section 13.14.	  	No Revocation	  	 39

	Section 13.15.	  	Counterpart Execution	  	 39

	Section 13.16.	  	Bankruptcy of Trust Certificateholders or Trustee	  	 39

	Section 13.17.	  	Certain Additional Covenants of the Trust Certificateholders	  	 39

	Section 13.18.	  	Name	  	 40

	Section 13.19.	  	Restrictions on Further Amendments	  	 40

	Section 13.20.	  	Certificateholder	  	 40

	Section 13.21.	  	PPPFA	  	 40

  

			
	 JOINDER
	  	
	 EXHIBIT A
	  	 FORM OF UTI CERTIFICATE

	 SCHEDULE A
	  	 WIRE INSTRUCTIONS

	 SCHEDULE B
	  	 STANDARD SUBI TERMS

	 SCHEDULE C
	  	 FORM OF SUBI SUPPLEMENT

	 SCHEDULE D
	  	 ALLOCATION OF CAPITALIZATION DEMAND NOTE

  
 Trust Agreement 

  
 iii 

 SECOND AMENDED AND RESTATED TRUST AGREEMENT 

SECOND AMENDED AND RESTATED TRUST AGREEMENT dated as of March 18, 2016 (this Trust Agreement) between SRC O.P. CORPORATION,
a Delaware corporation, as settlor and initial beneficiary (the Owner Participant and the Initial Beneficiary, respectively) and U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association (acting hereunder not in
its individual capacity but solely as trustee with respect to the Trust Estate generally, the Owner Trustee, and solely as trustee with respect to the UTI specifically, the UTI Trustee). 

All capitalized terms used herein and not otherwise defined herein shall, with respect to the UTI Portfolio, have the meanings set forth in
Schedule 1 (the Definitions Appendix) to that certain Participation Agreement dated as of the date hereof among Sears, Roebuck and Co. (the Lessee or Sears), the Owner Participant, the Owner Trustee, Wells Fargo Bank Minnesota, N.A.,
as Security Trustee and SRC Depositor Corporation, a Delaware corporation, as Initial Lender, and, with respect to each SUBI Portfolio, shall have the meanings as set forth in the respective SUBI Supplement. 

W I T N E S S E T H: 

WHEREAS, the parties hereto entered into that certain trust agreement dated as of November 24, 2003 (the “Initial Trust
Agreement”), pursuant to which the Trust (as defined below) was created; 
 WHEREAS, the parties hereto entered into that certain
Amended and Restated Trust Agreement dated as of November 24, 2003 (the “Initial Amended and Restated Trust Agreement”), pursuant to which the Initial Trust Agreement was amended and restated; 

WHEREAS, the parties desire to amend and restate the Initial Amended and Restated Trust Agreement in its entirety as set forth below; and 

WHEREAS, the Owner Trustee and UTI Trustee are willing to accept the duties and obligations imposed hereby on the terms and conditions set
forth herein; 
 NOW, THEREFORE, in consideration of the premises and of other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

OWNER TRUSTEE’S AUTHORIZATIONS AND DIRECTIONS 

SECTION 1.1. Creation of Trust. The Owner Participant and the Owner Trustee have created and hereby reaffirm the
creation of the SRC Facilities Statutory Trust No. 2003-A (the Trust) on the terms and conditions set forth herein. It is the intention of the parties that the Trust shall constitute a statutory trust pursuant to Chapter 38 of Title 12 of the
Delaware Code, 12 Del. C., § 3801, et seq. (as the same may be amended from time to time, the Statutory Trust Statute) 
  

Trust Agreement 

  
 4 

 
and that this Trust Agreement constitutes the governing instrument of such statutory trust. The Owner Trustee has executed and filed with the Secretary of State of Delaware, on November 5, 2003,
a certificate of trust for the trusts created hereby pursuant to Section 3810(a) of the Statutory Trust Statute. Effective as of the date hereof U.S. Bank Trust National Association and the Owner Trustee shall have all the rights, powers and duties
set forth herein and in the Statutory Trust Statute with respect to accomplishing the purposes of the trust created hereby. 
 SECTION
1.2. Authorization to Execute and Perform Certain Documents. The Trust is formed solely for the purpose of, and the Owner Participant hereby authorizes and directs the Owner Trustee and the Trust, as the case may be and, as
applicable, the Owner Trustee hereby agrees for the benefit of the Owner Participant, (i) to (x) execute and deliver the Operative Documents, including the Participation Agreement and the Master Lease in the forms approved by the Owner Participant
(such approval to be evidenced by the Owner Participant’s execution and delivery of the Participation Agreement) and (y) execute and deliver: the Site Leases (each such Site Lease to be substantially in the form attached to the Master Lease
with all schedules, appendices and exhibits attached and all blanks filled in), (ii) to execute and deliver all other agreements, instruments and certificates contemplated by the Operative Documents, (iii) to take whatever action shall be required
to be taken by the Owner Trustee by the terms of, and exercise its rights and perform its duties under, each of the documents, agreements, instruments and certificates referred to in clauses (i) and (ii) above as set forth in such documents,
agreements, instruments and certificates and (iv) subject to the terms of this Trust Agreement, to take such other action in connection with the foregoing as the Owner Participant or Trust Certificateholders may from time to time direct. The Owner
Participant hereby further authorizes the Owner Trustee, and the Owner Trustee shall be entitled but not obligated, to act on behalf of the Trust in connection with the Operative Documents and the transactions contemplated thereby. In addition, the
Trust will hold and allocate among the various SUBI Portfolios in accordance with Schedule D attached hereto the Capitalization Demand Note (OP). Further, the Trust shall have the power to lend money to Sears in exchange for the One Billion
Fifty-One Million Two Hundred Fifty-Five Thousand Sixty-Four and 52/100 Dollars ($1,051,255,064.52) unsecured demand note (the Demand Note) issued by Sears to the Trust. 

SECTION 1.3. General Authorization and Agreement. The Owner Participant hereby authorizes and directs the Owner
Trustee, subject to the fulfillment or waiver by the Owner Participant of the applicable conditions set forth in the Participation Agreement, to execute and deliver the agreements, documents, instruments and certificates and perform all such other
acts (i) which the Owner Trustee shall be obligated to execute, deliver or perform on the Closing Date, pursuant to the Operative Documents or (ii) subject to the terms of this Trust Agreement and in accordance with written instructions from the
Owner Participant or the Trust Certificateholders, which are in the opinion of the Owner Participant or Trust Certificateholders necessary or advisable in connection with the transactions contemplated by the Operative Documents and consistent
therewith, or (iii) as otherwise directed by the Owner Participant or the Trust Certificateholders. The Owner Trustee hereby agrees, for the benefit of the Owner Participant, to take and perform each of the foregoing actions. The Trust and the
Trustee shall further have such powers as are necessary and appropriate to the conduct of their duties as set forth in this Agreement and the Operative Documents. 
  

Trust Agreement 

  
 5 

 SECTION 1.4. Amendment and Restatement. This Trust Agreement amends and
restates the Initial Amended and Restated Trust Agreement in its entirety, which amended and restated the Initial Trust Agreement in its entirety. 

SECTION 1.5. Power and Authority. The Trust shall have the power and authority to execute, deliver and perform its
obligations under the Operative Documents and all other agreements, documents, instruments and certificates contemplated by the Operative Documents. 

ARTICLE II 
 DECLARATION
OF TRUSTS 
 SECTION 2.1. Declaration of Trusts.  

(a) The Owner Trustee hereby declares that it will hold all of the estate, right, title and interest of the Owner Trustee in and to the Trust
Estate upon the trusts set forth herein and for the use and benefit of the respective UTI or SUBI Portfolio. 
 (b) The term Trust Estate
or Trust Assets shall mean all the estate, right, title and interest of the Owner Trustee or the Trust in and to: 

(1) the Sites as defined herein and in any SUBI Supplement and all replacements thereof and substitutions therefor; 

(2) the Operative Documents as defined herein and in any SUBI Supplement to which any Trustee or the Trust, from time to time,
is or is to become a party; 
 (3) all money, other documents and other property acquired, held by or payable to any Trustee
or the Trust whether under any of the Operative Documents to which any Trustee or the Trust, from time to time, is or is to become a party, or otherwise, including, without limitation, (i) all amounts of Rent, Basic Rent and Supplemental Amounts
payable under any Master Lease as defined herein and in any SUBI Supplement, (ii) all insurance proceeds payable at any time for or with respect to the Sites as defined herein and in any SUBI Supplement or any part thereof, and (iii) all
condemnation, requisition, liquidated damages, warranty or other payments of any kind payable at any time for or with respect to the Sites as defined herein and in any SUBI Supplement or any part thereof or any other disposition of the Sites or any
part thereof after expiration or termination of any Master Lease as defined herein and in any SUBI Supplement; and 
 (4) all
proceeds, rights and interests derived from (1), (2) or (3) above of whatever kind or nature. 
 (c) The Trust shall, while the Mortgage
Loan which is the obligation of any SUBI Portfolio is outstanding or the PPPFA remains in effect: 
 (1) maintain books and
records separate from any other Person; 
  
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 (2) maintain its bank accounts separate from any other Person; 

(3) not commingle its assets with those of any other Person; 

(4) conduct its own business in its own name; 

(5) maintain separate financial statements, showing its assets and liabilities separate and apart from any other Person; 

(6) pay its own liabilities and expenses out of its own funds; 

(7) observe all statutory and other organizational formalities; 

(8) maintain an arm’s length relationship with its Affiliates and enter into transactions with Affiliates only on a
commercially reasonable basis; 
 (9) pay the salaries of its own employees from its own funds and maintain a sufficient
number of employees in light of its contemplated business operations (except to the extent of shared employees and overhead, in which event, clause 2.1(c)(13) shall be applicable); 

(10) not guarantee or become obligated for the debts of any other Person except for the liabilities, if any, permitted in any
of the documents entered into in connection with the Mortgage Loan or hold out its credit as being available to satisfy the obligations of others, except for, to the extent constituting the debts or obligations of any other Person, the PBGC UBL
Claims (as defined in the PPPFA (as defined below)); 
 (11) not acquire the obligations or securities of its Affiliates or
shareholders except as provided in the Operative Documents; 
 (12) not make loans or advances to any other Person other than
the loan to Sears in exchange for the Demand Note; 
 (13) allocate fairly and reasonably any overhead expenses that are
shared with any Affiliate, including payment for office space and services performed by any employee of any Affiliate; 

(14) use separate stationery, invoices, and checks bearing its own name; 

(15) not pledge its assets for the benefit of any other Person, other than pursuant to the Mortgage and any other Loan
Documents or as expressly permitted by the PPPFA; 
 (16) hold itself out as a separate entity (except as otherwise required
by Section 5.7 of this Agreement); 
  
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 (17) correct any known misunderstanding regarding its separate identity; 

(18) not identify itself as a division of any other Person (except as otherwise required by Section 5.7 of this
Agreement); 
 (19) maintain adequate capital in light of its contemplated business operations; 

(20) except for, to the extent constituting indebtedness, the PBGC UBL Claims, not incur indebtedness other than the Mortgage
Loans and unsecured payables in excess of 2% of the aggregate amount of the Mortgage Loans; and 
 (21) not materially amend
the covenants contained in this Section 2.1(c). 
 ARTICLE III 

ACCEPTANCE BY TRUSTEES 

SECTION 3.1. Acceptance by Trustees.  

(a) The UTI Trustee shall have the rights, powers and duties with respect to the UTI as are specifically and expressly required by the
Statutory Trust Statute and this Trust Agreement. The Initial Beneficiary hereby appoints U.S. Bank Trust National Association as the UTI Trustee. The UTI Trustee does hereby accept such appointment and agrees to act as a trustee of the UTI Series
of the Trust for the benefit of the Initial Beneficiary and such other Persons as may become holders of all or a part of the UTI, subject to the terms and conditions of this Trust Agreement. 

(b) The Owner Trustee shall have only such rights, powers and duties as are specifically and expressly required by the Statutory Trust Statute
and this Trust Agreement. The Owner Trustee hereby accepts such appointment. 
 (c) Any SUBI Trustee shall have the rights, powers and
duties as are specifically and expressly required by the Statutory Trust Statute and this Trust Agreement and in the SUBI Supplement with respect to the applicable SUBI. Any SUBI Trustee shall accept such appointment and agree to act as a trustee of
the Trust for the benefit of the holders of all or part of the applicable SUBI, subject to the terms and conditions of this Trust Agreement, by execution of a counterpart to this Trust Agreement (as supplemented by a SUBI Supplement). 

(d) The UTI Trustee, Owner Trustee and any SUBI Trustee may be the same Person. The Owner Trustee, any UTI Trustee and any SUBI Trustee are
hereafter collectively referred to as the Trustees and any one thereof as a Trustee. 
  

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 ARTICLE IV 

BENEFICIAL INTERESTS IN TRUST

SECTION 4.1. Undivided Trust Interest.  

(a) The Initial Beneficiary shall hold an exclusive, undivided beneficial interest in all assets of the Trust (the Undivided Trust Interest
or the UTI), other than those divided, identified Trust Assets that are from time to time allocated by the Trust, upon the written direction of the Initial Beneficiary and otherwise in accordance with Section 4.2, into one
or more separate portfolios of Trust Assets (together with any other Trust Assets allocated to or earned by any such portfolio(s), and any proceeds thereof, collectively, SUBI Assets, and all Trust Assets, other than SUBI Assets, are the
UTI Assets) and assigned to a Series of the Trust other than the UTI. 
 (b) The Undivided Trust Interest shall initially be
uncertificated. At any time, and from time to time, the holder of the Undivided Trust Interest shall have the right to receive from the Trust a trust certificate evidencing its Undivided Trust Interest (together with any replacements thereof, the
Undivided Trust Interest Certificate or the UTI Certificate); provided, however, that, at any time and from time to time, there shall only be one Trust Certificateholder of the Undivided Trust Interest, whether certificated or
uncertificated. All expenses incurred in connection with the issuance of the UTI Certificate shall be the sole responsibility of the holder of the Undivided Trust Interest Certificate. Any Undivided Trust Interest Certificate shall be in
substantially the form of Exhibit A hereto, with such appropriate insertions, omissions, substitutions and other variations as are required by this Trust Agreement, and may have such letters, numbers or other marks of identification and such
legends and endorsements placed thereon as may, consistently herewith, be approved by the Initial Beneficiary. Any portion of any Undivided Trust Interest Certificate may be set forth on the reverse or subsequent pages thereof. Each Undivided Trust
Interest Certificate shall be printed, lithographed, typewritten, mimeographed, photocopied or otherwise produced or may be produced in any other manner as may, consistently herewith, be determined by the Initial Beneficiary. 

(c) The UTI shall be a separate Series of the Trust as provided in Section 3806(b)(2) of the Statutory Trust Statute. Separate and distinct
records shall be maintained for the UTI and the UTI Assets shall be held and accounted for separately from the other assets of the Trust or any SUBI. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing
with respect to the UTI or the UTI Assets shall be enforceable against the UTI Assets only, and not against the assets of the Trust generally or against any SUBI Assets. The Undivided Trust Interest shall not be subject to claims, debts,
liabilities, expenses or obligations arising from or with respect to any SUBI or any SUBI Trustee. No creditor or holder of a claim relating to assets allocated to the UTI shall be entitled to maintain any action against or recover any assets
allocated to any SUBI. 
 (d) Any holder, assignee or pledgee of an Undivided Trust Interest or Undivided Trust Interest Certificate shall
be deemed, by virtue of the acceptance of such Undivided Trust Interest, Undivided Trust Interest Certificate, assignment or pledge, to have (i) agreed, accepted and to have become bound by and subject to the non-petition covenant set 

 
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forth in Section 9.7 and (ii) released and waived all claims against or with respect to any assets owned by the Trustees in their respective individual capacities and all of the Trust
Assets other than the UTI Assets included from time to time within the UTI Portfolio and proceeds therefrom and, in the event that such release is not given effect, to fully subordinate all claims it may be deemed to have against such released Trust
Assets. UTI Portfolio means Sites not allocated to a SUBI Portfolio and remaining as part of the Undivided Trust Interest. Without limiting the foregoing, each holder, assignee or pledgee of an Undivided Trust Interest or Undivided Trust
Interest Certificate shall be deemed to have released and waived all claims against or with respect to all assets allocated to each SUBI Portfolio and, in the event that such release is not given effect, to fully subordinate all claims it may be
deemed to have against all Trust Assets allocated to each SUBI Portfolio. Portfolio means the UTI Portfolio or any SUBI Portfolio. 

SECTION 4.2. Special Units of Beneficial Interest.  

(a) The UTI Trustee shall from time to time, as directed in writing by the Initial Beneficiary, identify and allocate, or cause to be
identified and allocated, on the books and records of the Trust one or more separate portfolios of SUBI Assets to be accounted for independently within the Trust (each such portfolio, a SUBI Portfolio). Upon their allocation as SUBI Assets,
such Trust Assets shall no longer be assets of, or allocated to, the Undivided Trust Interest (unless and until specifically reallocated to the Undivided Trust Interest from that SUBI Portfolio pursuant to the terms hereof or of any SUBI
Supplement). The beneficial interest in each such SUBI Portfolio shall constitute a separate “special unit of beneficial interest” (SUBI) in the Trust. The Trust shall maintain separate and distinct records for each SUBI Portfolio
and the SUBI Assets associated with each SUBI shall be held and accounted for separately from the other assets of the Trust or any other SUBI Assets. The Owner Trustee shall execute and deliver, on behalf of the Trust, to or upon the written order
of the Initial Beneficiary, one or more SUBI Certificates evidencing each SUBI, each SUBI representing a specific undivided interest in (but only in) such identified SUBI Portfolio and the SUBI Assets allocated thereto. 

(b) Each SUBI shall be created by the execution of a supplement to this Trust Agreement (each a SUBI Supplement), each
substantially in the form of Schedule C or such other form as the SUBI Trustee and the SUBI Owner Participant with respect thereto shall otherwise approve, and may, in accordance with Section 3 of the Standard SUBI Terms contained in
Schedule B hereto, be represented by a certificate (together with any replacements thereof, a SUBI Certificate) to be issued by the Trust. Each SUBI Supplement shall specify the terms and provisions pursuant to which a SUBI Certificate
shall be issued with respect to such SUBI; the form of any SUBI Certificate to be issued in connection therewith; the initial SUBI Assets to be included in such SUBI Portfolio; the arrangements, if any, whereby additional SUBI Assets may
subsequently be added to the SUBI Portfolio; the provisions under which the proceeds of the related SUBI Assets shall be collected, invested and distributed; and other relevant terms and provisions specific to such SUBI, all as shall be prescribed
and established by the Initial Beneficiary. A SUBI Supplement also may specify additional terms or modify other terms of this Trust Agreement, but only with respect to such SUBI. The Joinder to the Trust Agreement shall be applicable to all SUBI
Supplements, and in the event of any transfer of the beneficial interest in any SUBI Supplement or any loan entered into with respect to any SUBI Portfolio, the applicable transferee or lender, trustee or agent shall execute and deliver a Joinder
substantially in the form of the Joinder attached hereto as a condition to such Person consummating such transfer or loan. 
  

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 (c) The UTI and each SUBI shall be a separate series (each a Series) of the Trust as provided in
Sections 3804(a) and 3806(b)(2) of the Statutory Trust Statute. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each SUBI or the related SUBI Assets shall be enforceable against such
SUBI Assets only, and not against the assets of the Trust generally or against any other SUBI Assets or the UTI Assets. Except to the extent specified in the related SUBI Supplement or this Trust Agreement, the SUBI Assets with respect to a
particular SUBI shall not be subject to claims, debts, liabilities, expenses or obligations arising from or with respect to the Trust, any Trustee, the UTI or any other SUBI. No creditor or holder of a claim relating to assets allocated to any SUBI
shall be entitled to maintain any action against or recover any assets allocated to the UTI or any other SUBI. The Trust shall maintain separate and distinct records for any such Series and the assets associated with any such Series shall be held
and accounted for separately from the other assets of the Trust, or any other Series. Notice of this limitation on interseries liabilities and the limitation set forth in Section 4.1(c) shall be set forth in the certificate of trust of the
Trust (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to the Statutory Trust Statute, and upon the giving of such notice in the certificate of trust, the
statutory provisions of Section 3804 of the Statutory Trust Statute relating to limitations on interseries liabilities (and the statutory effect under Section 3804 of setting forth such notice in the certificate of trust) shall become applicable to
the Trust and each SUBI and the UTI. 
 (d) Neither the Owner Participant nor any holder of a UTI or SUBI Certificate shall direct a Trustee
to, and no Trustee shall be authorized hereunder to, (i) take any action that would cause the assets of any Series of the Trust to be substantively consolidated into the assets of any other Series such that it will have its separate existence
disregarded in the event of an insolvency event with respect to any Certificateholder of such Series, the Trust or another Series, (ii) commingle any of the assets of any Series with the assets of any other Series, (iii) maintain the corporate,
financial and accounting books and records and statements of any Series, if any, in a manner such that they cannot be separated from those of any other Series, (iv) take any action that would cause (a) the funds and other assets of any Series, if
any, not to be identifiable or the bank accounts, corporate records and books of account, if any, of any Series to be inseparable from those of any other Series and (b) the Trust to pay, other than from assets of any Series, any obligations or
indebtedness of any kind incurred by the Series and payable by the Trust pursuant to a SUBI Supplement, (v) maintain the assets and liabilities of any Series so that they are not readily ascertainable from those of any other Series and subject to
segregation without requiring substantial time or expense to effect and account for such segregated assets and liabilities, or (vi) take any actions with respect to any Series except in its capacity as Trustee in respect of such Series. A Trustee
shall have the right, but not the duty, to take any action on behalf of the Trust to enforce the foregoing provisions for the benefit of the Trust and of each Series. 

(e) Each holder of a SUBI shall appoint for such SUBI a trustee (a SUBI Trustee) which shall perform such duties, have such
responsibilities and adhere to such standards of care as are specified in this Trust Agreement and related SUBI Supplement, but only with respect to the SUBI for which it was appointed. The same Person may be appointed as SUBI Trustee for all or any
SUBIs. 
  
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 (f) Any holder, assignee or pledgee of a SUBI or SUBI Certificate shall be deemed, by virtue of
the acceptance of such SUBI, SUBI Certificate, assignment or pledge, to have (i) agreed, accepted and to have become bound by and subject to the non-petition covenant set forth in Section 9.7 and (ii) released and waived all claims against or
with respect to any assets owned by the Trustees in their respective individual capacities and all of the Trust Assets allocated to the UTI Portfolio and each other SUBI Portfolio and proceeds therefrom and, in the event that such release is not
given effect, to fully subordinate all claims it may be deemed to have against all Trust Assets allocated to the UTI Portfolio and each other SUBI Portfolio. Without limiting the foregoing, each holder, assignee or pledgee of a SUBI or SUBI
Certificate shall be deemed to have released and waived all claims against or with respect to all assets allocated to the UTI Portfolio and each other SUBI Portfolio and, in the event that such release is not given effect, to fully subordinate all
claims it may be deemed to have against all Trust Assets allocated to the UTI Portfolio and each other SUBI Portfolio. 
 (g) Except as
otherwise provided in this Trust Agreement, not less than all of the Trust Certificateholders may direct or approve the action (or inaction) of the Owner Trustee and any direction or approval given by less than all of the Trust Certificateholders
shall be of no force and effect and shall be null and void ab initio. Except as provided above with respect to the Owner Trustee, the UTI Certificateholder may only direct or approve the action (or inaction) of the UTI Trustee and any
direction or approval given to any SUBI Trustee shall be of no force or effect and shall be null and void ab initio. Except as provided above with respect to the Owner Trustee, the Trust Certificateholders of a particular SUBI Portfolio may
only direct or approve the action (or inaction) of the respective SUBI Trustee (in the manner provided in the related SUBI Supplement) and any direction, or approval given to the UTI Trustee or any other SUBI Trustee shall be of no force and effect
and shall be null and void ab initio. 
 (h) Pursuant to the Contribution Agreement (OP) dated as of the date hereof between the
Initial Beneficiary and the Trust, the Initial Beneficiary is contributing to the capital of the Trust a demand note in the principal amount of Sixty Six Million Nine Hundred Sixty Thousand and 00/100 ($66,960,000.00). The parties hereto agree that
such demand note, and the rights to payment thereunder, are hereby allocated among the SUBI Portfolios nos. 2003A-001 through 2003A-100 in the respective amounts set forth on Schedule D attached hereto, such rights to payment being pari
passu. At any time and from time to time, upon the request of any SUBI Trustee for any SUBI Portfolio, the Initial Beneficiary will issue a separate demand note substantially in the form of the original demand note, but in the principal amount
applicable to such SUBI Portfolio (taking into account any prior principal payments made thereon received by such SUBI Portfolio) in exchange for such rights to a portion of the original demand note, and in such event the Owner Trustee will deliver
the original demand note in exchange for such new demand note in favor of the applicable SUBI Trustee and another new demand note in the principal amount equal to the remaining outstanding balance of the demand note being replaced, in favor of the
Trust to be held for the benefit of all SUBI Portfolios for which a separate demand note shall not have been issued pursuant to this Section 4.2(h). 

SECTION 4.3. Form of Certificate; Registration of Certificates.  

(a) To the extent that any Certificates are issued, the UTI Certificates and SUBI Certificates (collectively the Certificates) shall be
executed on behalf of the Trust by 
  
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manual or facsimile signature of an authorized officer of the UTI Trustee or SUBI Trustee, as the case may be. Certificates bearing a manual or facsimile signature of individuals who were, at the
time when such a signature shall have been affixed, authorized to sign on behalf of such Trustee shall, when duly authenticated pursuant hereto, be validly issued and shall entitle the holder of such Certificate to the benefits of this Trust
Agreement, notwithstanding that such individuals or any of them shall cease to be so authorized prior to the authentication and delivery of such Certificates or did not hold such offices at the date of authentication and delivery of such
Certificates. No Certificate shall entitle its holder to any benefit under this Trust Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication, executed by the Trustee or an agent
thereof, by manual signature; such authentication shall constitute conclusive evidence that such Certificate shall have been duly authenticated and delivered hereunder. 

(b) The UTI Trustee (and each SUBI Trustee) shall keep or cause to be kept at its offices at the Corporate Trust Office, or such other office
as it shall designate, by written notice to the Initial Beneficiary and each Certificateholder, a certificate register (the Certificate Register), in which, subject to such reasonable regulations as it may prescribe, such Trustee shall
provide for the registration of Certificates or, in the case of any uncertificated UTI or SUBI Portfolio, the identity of the applicable holder of such UTI or SUBI beneficial interest and of transfers and exchanges of Certificates, or of UTI or SUBI
Portfolio beneficial interest as herein provided. Upon surrender for registration of transfer of any Certificate, such Trustee shall execute, authenticate and deliver in the name of the designated transferee or transferees one or more new
Certificates of the same type and proportionate beneficial interest dated the date of authentication by such Trustee. Each Certificate presented or rendered for registration of transfer or exchange shall be accompanied by a written instrument of
transfer in a form reasonably satisfactory to such Trustee, duly executed by the Trust Certificateholder or its attorney duly authorized in writing. The term Trust Certificateholder shall mean the holder of the UTI or the applicable
SUBI beneficial interest or any holder of any certificate evidencing such beneficial interest. Each Certificate surrendered for registration of transfer and exchange shall be canceled and subsequently disposed of by such Trustee in accordance with
its customary practice. No service charge shall be made for any registration of transfer or exchange of any Certificate, but such Trustee may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in
connection with any transfer or exchange of Certificates. Prior to the due presentation of a Certificate for registration of transfer, such Trustee and each agent of such Trustee may treat the Person in whose name any Certificate shall be registered
in the Certificate Register as the owner of such Certificate for all purposes, and neither such Trustee nor any such agent shall be bound by any notice to the contrary. Each Trustee shall furnish or cause to be furnished, without any liability on
the part of the Trustee for such disclosure, to the Initial Beneficiary and each Certificateholder, within three (3) Business Days after receipt by the Trustee of request therefor, a list of the names and addresses of all Trust Certificateholders.
Upon reasonable notice, each owner shall have the right to inspect the register of trust certificates during business hours of the respective Trustee for the purpose, among other things, of communicating with the other owners. 

SECTION 4.4. Mutilated, Destroyed, Lost or Stolen Certificates. If any mutilated Certificate is surrendered to the applicable
Trustee, or such Trustee receives evidence to its 
  
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satisfaction of the mutilation, destruction, loss or theft of any Certificate, and there is delivered to such Trustee such security or indemnity as may be reasonably required by it to save it
harmless, then such Trustee shall execute and authenticate, in lieu of such mutilated, destroyed, lost or stolen Certificate, a Certificate of the same type and proportionate beneficial interest bearing an identification number not contemporaneously
outstanding, which shall constitute for all purposes a substitute for the original Certificate, which original Certificate shall be deemed canceled and shall be so marked on the books and records of such Trustee. 

SECTION 4.5. Transfer of Sites. Each holder of a UTI Certificate or, subject to any restrictions on such right set
forth in the agreements governing any financing, a SUBI Certificate, may at any time, at its option, to be exercised by written notice delivered to the Trust and the applicable UTI Trustee or SUBI Trustee, instruct the Trust to have the Sites
allocated to such UTI Certificate or SUBI Certificate, as the case may be, transferred to such holder (or a Person designated by such holder). Except as otherwise provided in the related SUBI Supplement, such holder shall indemnify the Trust and the
UTI Trustee or SUBI Trustee, as the case may be, for, and hold the Trust and the UTI Trustee or SUBI Trustee, as the case may be, harmless against, any and all expenses, costs, liabilities, losses and claims incurred by it as a result of or relating
to such transfer, or any action such holder shall take or fail to take as the owner of such Sites or the owner of such Trust Assets, including, without limitation, sales and transfer taxes and registration fees. In the event of such a request, the
applicable Trustee shall transfer title to the Site in the manner set forth in Section 11.3, mutatis mutandis. 
 SECTION
4.6. Certain Restrictions on Transfer.  
 (a) Notwithstanding anything to the contrary in this Trust Agreement, no transfer (or
purported transfer) of the beneficial interest in the UTI or any SUBI, any UTI Certificate or SUBI Certificate (any such beneficial interest or Certificate a “Trust Interest”), or any economic interest therein (where, for this
purpose, the transfer of an economic interest in a Trust Interest shall include entering into any financial interest or contract described in Treasury Regulation section 1.7704-1(a)(2)(i)(B)), shall be effective, and any such transfer (or purported
transfer) shall be void ab initio, if after such transfer (or purported transfer) there would be more than 50 partners of the UTI or SUBI, as applicable. For purposes of determining the number of partners in the UTI or SUBI under Treasury
Regulation section 1.7704-1(h)(1), a person owning an interest in a partnership, grantor trust, or S corporation (a “flow-through entity”) that owns, directly or through other flow-through entities, an interest in the UTI or SUBI, will be
treated as a partner in the UTI or SUBI if more than 50 percent of the value of such person’s interest in the flow-through entity is attributable to the flow-through entity’s interest (direct or indirect) in the UTI or SUBI. 

(b) No transfer (or purported transfer) of a Trust Interest (or any economic interest therein), whether to another Trust Certificateholder or
to a person who is not a Trust Certificateholder, shall be effective, and any such transfer (or purported transfer) shall be void ab initio, and no person shall otherwise become a Trust Certificateholder, and none of the UTI, SUBI, the
Trustee, the holder of the Certificate Register or any of the Trust Certificateholders will recognize such transfer (or purported transfer), unless the transferee has first represented and warranted in writing to the Trust that: 

(A) it is acquiring the Trust Interest for its own account and is the sole beneficial owner of such Trust Interest; 

 
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 (B) the transfer is not being effected on or through (x) an “established securities
market” within the meaning of Section 7704(a)(1) of the Code, including without limitation, an over-the-counter market or an interdealer quotation system that regularly disseminates firm buy or sell quotations or (y) a “secondary market
(or the substantial equivalent thereof)” within the meaning of Section 7704(a)(2) of the Code and any proposed, temporary or final Treasury regulations thereunder; 

(C) such transfer will not cause the UTI or SUBI, as applicable, to be classified as a publicly traded partnership for U.S. federal income tax
purposes, and such purchaser or transferee will not take any action, including any subsequent disposition of such Trust Interest (or any beneficial interest therein), that would cause the UTI or SUBI, as applicable, to be treated as a publicly
traded partnership for U.S. federal income tax purposes; and 
 (D) such transfer complies with the requirements of Section 4.6. 

ARTICLE V 
 INITIAL
BENEFICIARY’S AND TRUST CERTIFICATEHOLDERS’ AGREEMENTS 
 The Initial Beneficiary (and each Certificateholder with respect to
Sections 5.4-5.7) acknowledges and agrees as follows: 
 SECTION 5.1. Exculpatory Provisions. Except as expressly
provided in the Operative Documents, any and all exculpatory provisions, immunities and indemnities in favor of the UTI Trustee (only with respect to matters involving or concerning the UTI Portfolio) or the Owner Trustee under this Trust Agreement
shall inure to the benefit of the UTI Trustee or the Owner Trustee, as the case may be, in its capacity under or as a party or signatory to any agreement referred to herein or therein. 

SECTION 5.2. Indemnification of the UTI Trustee. The Initial Beneficiary shall, only with respect to the UTI Portfolio
or the UTI Trustee, as the case may be, assume liability for, and shall indemnify, protect, save and keep harmless the UTI Trustee, in its individual capacity, and its officers, directors, successors, assigns, legal representatives, agents and
employees (each such Person being herein referred to as an Indemnified Person) from and against any and all liabilities, obligations, losses, damages, penalties, taxes (other than any income taxes on fees or other compensation received by an
Indemnified Person), claims, actions, suits, costs, expenses and disbursements (including, without limitation, legal fees and expenses, any liability of an owner, any strict liability and any liability without fault) of any kind and nature
whatsoever (hereinafter referred to as Claims) which may be imposed on, incurred by or asserted against any Indemnified Person (but only if and to the extent the Indemnified Person is not indemnified for such claims by Lessee or any other
Person within a reasonable time after demand therefor), but only to the extent regarding the UTI Portfolio (but not any other Portfolio) or the UTI Trustee, as the case may be, in any way relating to or arising out of this Trust Agreement, the UTI
Series 
  
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created hereby, the Operative Documents for the UTI Portfolio, or the performance or enforcement of any of the terms hereof or thereof, or in any way relating to or arising out of the
manufacture, purchase, acceptance, rejection, ownership, delivery, lease, sublease, possession, use, repair, preservation, alteration, operation, maintenance, condition, registration, sale, return, storage or other disposition of, or additions to,
the Sites in the UTI Portfolio or any part thereof or interest therein (including, without limitation, latent and other defects, whether or not discoverable, and any claim for patent, trademark or copyright infringement) but only to the extent
regarding the UTI Portfolio (but not any other Portfolio) or the UTI Trustee, as the case may be, or in any way relating to or arising out of the administration of the UTI Series created hereby and the UTI Assets or the action or inaction of any
Indemnified Person hereunder, but in all cases only to the extent regarding the UTI Portfolio (but not any other Portfolio) or the UTI Trustee, as the case may be; provided, that the UTI Certificateholders shall not be required to indemnify any
Indemnified Person for any claims resulting from acts which would constitute the willful misconduct or gross negligence of such Indemnified Person, but any affirmative action taken or omission made by the UTI Trustee pursuant to directions given to
such Trustee by the holder of a UTI Certificate or with respect to any other Series by the holders of the applicable Series Certificates, as the case may be, shall not constitute willful misconduct or gross negligence; and provided further, that the
holder of a UTI Certificate shall not be required to indemnify any Trustee with respect to claims resulting from (i) any representation or warranty of any Trustee made expressly in its individual capacity and contained in any Operative Document
proving to be untrue or inaccurate or (ii) any matter for which such Trustee is personally liable pursuant to Section 7.1 hereof. The indemnities contained in this Section 5.2 shall survive the termination of this Trust Agreement and
extend to the UTI Trustee in its individual capacity and shall not be construed as an indemnity of the Trust Estate. In the event any claim with respect to any liabilities is filed against the Owner Trustee, the UTI Trustee, the Trust, the UTI
Portfolio or any of the UTI Assets, the Owner Trustee or UTI Trustee shall promptly notify each UTI Certificateholder and the Lessee thereof. 

SECTION 5.3. Payment of Fees, Costs and Expenses of the UTI Trustee. The UTI Trustee shall be entitled to receive
compensation for its services hereunder as agreed to in a separate fee agreement between the UTI Trustee and the Initial Beneficiary, and shall be entitled to prompt reimbursement for all reasonable expenses incurred or made by it in accordance with
any of the provisions of this Trust Agreement relating to the UTI Portfolio or any other Operative Document relating to the UTI Portfolio (including the reasonable compensation and the expenses of its counsel, accountants or other skilled Persons
and of all other Persons not regularly in its employ performing services hereunder). The aforesaid obligations shall constitute indebtedness hereunder and the UTI Trustee is hereby granted, and said obligations shall be secured by, a lien on the UTI
Assets entitling the UTI Trustee to priority as to payment thereof over payment to the holder of a UTI Certificate under this Trust Agreement; provided that such Trustee hereby acknowledges that the Lessee shall first be required to pay such fees of
such Trustee comprising the compensation and reimbursement of expenses to which such Trustee is entitled under this Section; and provided further, that the holder of a UTI Certificate shall be liable to such Trustee for the aforesaid compensation
and reimbursement of expenses only to the extent such compensation and reimbursement of expenses shall not be otherwise paid or reimbursed by Lessee and only with respect to the UTI and expenses incurred by the UTI Trustee relating to the UTI
Portfolio. The UTI Trustee agrees that it shall have no right or claim against the holder of a UTI Certificate for any such compensation or reimbursement, except as provided in the preceding sentence. 

 
 Trust Agreement 

  
 16 

 SECTION 5.4. Indemnification of the Owner Trustee; Payment of Fees, Costs and Expenses.
 
 (a) Each Certificateholder of each Series shall, only to the extent of its respective Proportionate Share, assume liability for, and
shall indemnify, protect, save and keep harmless the Owner Trustee, in its individual capacity, and its officers, directors, successors, assigns, legal representatives, agents and employees (each such Person being herein referred to as an Owner
Trustee Indemnified Person) from and against any and all Claims which may be imposed on, incurred by or asserted against any Owner Trustee Indemnified Person (but only if and to the extent the Owner Trustee Indemnified Person is not indemnified
for such claims by the Lessee or any other Person within a reasonable time after demand therefor), in any way relating to or arising out of this Trust Agreement or any SUBI Supplement, the Trust created hereby, the Operative Documents, or the
performance or enforcement of any of the terms hereof or thereof, or in any way relating to or arising out of the manufacture, purchase, acceptance, rejection, ownership, delivery, lease, sublease, possession, use, repair, preservation, alteration,
operation, maintenance, condition, registration, sale, return, storage or other disposition of, or additions to, the Sites or any part thereof (including, without limitation, latent and other defects, whether or not discoverable, and any claim for
patent, trademark or copyright infringement) or in any way relating to or arising out of the administration of the Trust created hereby or the action or inaction of any Owner Trustee Indemnified Person hereunder regarding the Trust; provided that
the Trust Certificateholders shall not be required to indemnify any Owner Trustee Indemnified Person for any claims (i) resulting from acts which would constitute the willful misconduct or gross negligence of such Owner Trustee Indemnified Person,
but any affirmative action taken or omission made by the Owner Trustee pursuant to directions given to Owner Trustee by all of the Trust Certificateholders shall not constitute willful misconduct or gross negligence, or (ii) arising or resulting
from items excluded from indemnification by the Lessee pursuant to the provisions of Section 10 or 11 of the Participation Agreement (as defined in the SUBI Supplement with respect to SUBI Portfolio), except Section 11(c)(i), (v) and (vii) thereof,
which shall not apply as exceptions to the indemnity provided hereunder; and provided further, that the Trust Certificateholders shall not be required to indemnify the Owner Trustee with respect to claims resulting from (i) any representation or
warranty of the Owner Trustee made expressly in its individual capacity and contained in any Operative Document proving to be untrue or inaccurate or (ii) any matter for which the Owner Trustee is personally liable pursuant to Section 7.1 hereof The
indemnities contained in this Section 5.4 shall survive the termination of the Trust Agreement and each SUBI Supplement and extend to the Owner Trustee in its individual capacity and shall not be construed as an indemnity of the Trust Estate. In the
event any claim with respect to any liabilities is filed against the Owner Trustee, the Owner Trustee shall promptly notify each Certificateholder and the Lessee thereof. 

(b) The Owner Trustee shall be entitled to prompt reimbursement for all reasonable expenses incurred or payments made by it in connection with
the Trust pursuant to any provisions of this Trust Agreement or any SUBI Supplement (including (i) the reasonable compensation and the expenses of its counsel, accountants or other skilled Persons and of all 

 
 Trust Agreement 

  
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other Persons not regularly in its employ performing services hereunder and (ii) any reasonable legal fees and expenses incurred in connection with any action, suit, arbitration or mediation
brought by Owner Trustee to enforce the provisions of this Section 5.4). The aforesaid obligations shall constitute indebtedness hereunder and the Owner Trustee is hereby granted, and said obligations shall be secured by, a lien on the Trust Estate;
provided that the Owner Trustee hereby acknowledges that the Lessee shall first be required to pay the reimbursement of expenses to which the Owner Trustee is entitled under this Section 5.4; and provided further, that the Trust Certificateholders
shall be liable to the Owner Trustee for the aforesaid reimbursement of expenses only to the extent such reimbursement of expenses shall not be otherwise paid or reimbursed by the Lessee within thirty days of a demand therefore and only to the
extent of each Certificateholder’s respective Proportionate Share. The Owner Trustee agrees that it shall have no right or claim against any Certificateholder for any such compensation or reimbursement, except as provided in the preceding
sentence. 
 (c) Proportionate Share shall mean, for each Certificateholder, the amount of any Claims multiplied by a fraction, the
numerator of which is, for the UTI Certificateholder, the aggregate of the Initial Site Value (or the comparable defined term) for all Sites in the UTI Portfolio at the time of the Claim, and for the Certificateholder(s) of each SUBI Portfolio, the
aggregate of the Initial Site Value (or the comparable defined term) for all Sites in the applicable SUBI Portfolio at the time of the Claim, and the denominator of which is the aggregate of the Initial Site Value (or the comparable defined term)
for all Sites in all Portfolios at the time of the Claim. The Proportionate Share of multiple Trust Certificateholders within a Series shall be joint and several, but the Proportionate Share of the Certificateholder(s) of one Series shall be
several, distinct and separate from the Proportionate Share of the Certificateholder(s) of each other Series.  
 SECTION
5.5. Not Acting in Individual Capacity. In accepting the trusts hereby created, each Trustee acts solely as trustee hereunder and not in its individual capacity, except as provided herein, in any supplement hereto and in the
Participation Agreement (insofar as each Trustee is a party thereto), and all Persons, as provided herein, having any claim against the holder of a UTI Certificate or a SUBI Certificate, as the case may be, or against a Trustee by reason of the
transactions contemplated hereby shall look only to the UTI Assets or the SUBI Assets (or a part thereof), as the case may be, for payment or satisfaction thereof, except as specifically provided in this Trust Agreement or a SUBI Supplement and
except to the extent the applicable Trustee in accordance with the Operative Documents shall expressly agree otherwise. 
 SECTION
5.6. Interpretation of Trust Agreement. In the event that any Trustee is uncertain as to the application of any provision of this Trust Agreement or any other agreement relating to the transactions contemplated hereby, or
such provision is ambiguous as to its application or is, or appears to be, in conflict with any other applicable provision hereof, or in the event that this Trust Agreement permits any determination by any Trustee or is silent or incomplete as to
the course of action which the Trustee is required to take with respect to a particular set of facts, the Trustee may seek instructions from the holder of the UTI Certificate with respect to the UTI Portfolio or the applicable SUBI Certificate with
respect to any SUBI Portfolio, as the case may be, and shall not be liable to any Person to the extent that it acts in good faith in accordance with the instructions of such Certificateholder; provided, that if the Trustee shall not have received
instructions from such Certificateholder, pursuant to its request 
  

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 18 

 
within twenty (20) days after the date of such request (or such earlier date as is specified in its request), until instructed otherwise by such Certificateholder, the Trustee may, but shall be
under no duty to, take or refrain from taking such action as it shall deem advisable in the best interest of such Certificateholder. The Trustee shall have no liability for such actions taken in good faith. 

SECTION 5.7. Books, Records and Tax Returns. Each Trustee shall be responsible for the keeping of all appropriate books and
records relating to the receipt and disbursement of all moneys under this Trust Agreement. At the expense of the Lessee, the Trustees agree upon and pursuant to written instructions to sign and/or file all information returns provided to it in
execution form with respect to taxes on or calculated with respect to the Trust Estate (or part thereof, as the case may be). The Trustees shall keep copies of all returns delivered to it or filed by it and provide a copy thereof to the Owner
Participant and the Lessee upon request therefor. The Trustees shall not be personally liable for any tax due and payable in connection with this Trust Agreement or any agreement referred to herein and except for any tax based on or measured by
amounts paid as fees or compensation in connection with the transactions contemplated hereby. No election shall be made under Treasury Regulation 301.7701-3 to have the UTI or any SUBI treated as an association taxable as a corporation for United
States federal income tax purposes. 
 ARTICLE VI 

TRUSTEE’S AGREEMENTS 

Each Trustee hereby agrees as follows: 

SECTION 6.1. Execution and Delivery of Documents and Performance of Obligations. Subject to the terms of this Trust Agreement and
to the extent applicable, each SUBI Supplement, the Owner Trustee, the UTI Trustee, and to the extent applicable each SUBI Trustee shall accept or execute and shall deliver the documents referred to in Article I hereof, in any other Article
hereof or in any directive of the respective Trust Certificateholders for the UTI Portfolio or a SUBI Portfolio. 
 SECTION
6.2. Receipt of Investments and Application Thereof. The UTI Trustee shall receive any amounts paid to the UTI Trustee by, or on behalf of, the UTI Certificateholder pursuant to the Participation Agreement and shall apply such
amounts in the manner directed by the UTI Certificateholder. 
 SECTION 6.3. Receipt of Funds Pursuant to Master Lease or Otherwise
and Distribution Thereof. All payments and amounts received by or on behalf of the UTI Trustee or the Owner Trustee shall be distributed by 2:00 p.m. (central time) if received by 11:00 a.m. (central time), or by 11:00 a.m. (central time)
on the next business day if received after 11:00 a.m. (central time) and not distributed on such day, in the following order of priority: first, so much of such payment or amount as shall be required to pay or reimburse the UTI Trustee or the
Owner Trustee for any fees or expenses not otherwise paid or reimbursed to the UTI Trustee or the Owner Trustee as to which the Trustee is entitled to be paid or reimbursed hereunder shall be retained by the UTI Trustee or the Owner Trustee; and,
second, so much of the remainder for which provisions as to the application thereof are contained in the Master Lease or the other 
  

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Operative Documents shall be applied and distributed in accordance with the terms thereof as the Trust Certificateholder may direct from time to time, and third, the balance, if any, of
such payment or amount remaining thereafter shall be distributed to or upon the instructions of the applicable Certificateholder. Notwithstanding anything to the contrary herein contained, however, it is understood and agreed that neither the UTI
Trustee nor the Owner Trustee shall be obligated to make any distribution until the funds for such distribution have been received by the UTI Trustee or the Owner Trustee in cash or other immediately available funds. 

SECTION 6.4. Method of Payment.  

(a) All amounts payable to any Trust Certificateholder pursuant to this Trust Agreement shall be paid by the Trustee receiving such amount by
transferring such amount in immediately available funds to the account(s) that such Certificateholder from time to time designates in writing, the first such designation being contained in Schedule A hereto. 

(b) Notwithstanding the foregoing, a Trustee will pay, if requested by any Certificateholder in writing, any or all amounts payable by such
Trustee hereunder to such Certificateholder either: (i) by crediting in immediately available funds such amount(s) to the account(s) maintained by such Certificateholder with U.S. Bank Trust National Association, or (ii) by mailing an official bank
check or checks in such amount(s) payable to such Certificateholder at such address as such Certificateholder from time to time designates in writing. 

SECTION 6.5. Notice of Certain Events. In the event the UTI Trustee or the applicable SUBI Trustee, as the case may
be, shall have actual knowledge of a Lease Default, Lease Event of Default or Event of Loss relating to the UTI Assets or SUBI Assets, respectively, the UTI Trustee or the applicable SUBI Trustee, as the case may be, promptly shall give written
notice of such event to all Trust Certificateholders under the UTI or related SUBI, respectively, by telecopier, which notice shall be promptly confirmed by first class prepaid mail, unless such event shall have been remedied before the giving of
such notice. Subject to the terms of Section 6.7 hereof, the UTI Trustee or the applicable SUBI Trustee, as the case may be, shall take such action, or refrain from taking such action, with respect to any such event as the UTI
Trustee or the applicable SUBI Trustee, as the case may be, shall be directed in writing by the Trust Certificateholders under the UTI or related SUBI, respectively. If the applicable Trustee shall not have received instructions as above provided
within twenty (20) days (or such shorter period as may have been specified in such notice if circumstances reasonably require) after mailing notice of such event to the Trust Certificateholders under the UTI or related SUBI, respectively, the
applicable Trustee may, subject to instructions thereafter received pursuant to the preceding sentence, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect thereto
as the Trustee shall deem advisable in the best interest of the Trust Certificateholders under the UTI or related SUBI, respectively. For all purposes of this Trust Agreement, in the absence of actual knowledge (as described in the next succeeding
sentence), the applicable Trustee shall not be deemed to have knowledge of any Lease Default, Lease Event of Default or Event of Loss unless notified in writing by any Trust Certificateholders under the UTI or related SUBI, respectively, or the
Lessee, except that if the Trustee is receiving and disbursing funds with respect to the Master Lease, the Trustee shall be deemed to have knowledge of a Lease Default or a Lease Event of Default upon the failure of the 

 
 Trust Agreement 

  
 20 

 
Lessee to pay any installment of Basic Rent within ten (10) days after the same shall become due. For purposes of this Trust Agreement, no Trustee shall be deemed to have actual knowledge of any
Lease Default, Lease Event of Default or Event of Loss unless the same is actually known by an officer in the Corporate Trust Administration Department (or comparable department) of such Trustee. 

SECTION 6.6. Take Certain Action Upon Instructions. Subject to the terms of Sections 6.5, 6.7,
6.8, 6.9 and 7.2 hereof and upon the written instruction at any time and from time to time of a majority of the Trust Certificateholders of a Portfolio (where more than one class of Trust Certificateholders of a Portfolio is
affected, a majority of each such affected class shall instruct), the Trustee of such Portfolio shall take such of the following actions as may be specified in such instructions: 

(a) give such notice or direction or exercise such right, remedy or power hereunder or under any of the Operative Documents to which such
Trustee is a party, or in respect of all or any part of the applicable Portfolio as shall be specified in such instructions or take such other action (including, without limitation, such action to preserve or protect such Portfolio, as shall be
specified in such instructions); 
 (b) approve as satisfactory to such Trustee or consent to all matters required by the terms of the
Master Lease and other Operative Documents to be satisfactory to such Trustee or consented to by such Trustee; and 
 (c) after the
expiration or early termination of the Master Lease, convey, at the expense of the Trust Certificateholders of the related UTI or SUBI to the extent not paid by the Lessee or another purchaser or any other Person, all of the Trust’s right,
title and interest in and to the Sites or any part thereof for such amount, on such terms and to such purchaser or purchasers or other Person as shall be designated by such Trust Certificateholders in such instructions or retain, lease or otherwise
dispose of, or from time to time take such other action with respect to, the Sites or any part thereof on such terms as shall be designated in such instructions. 

SECTION 6.7. Limitation of Trustee’s Responsibilities. No Trustee shall be required to take any action under Section
6.5 or 6.6 hereof (other than the actions specified in the first sentence of Section 6.5 and the last sentence of Section 6.8) with respect to any Portfolio unless such Trustee is indemnified by the Trust Certificateholders
of the affected UTI or SUBI Portfolio in manner and form reasonably satisfactory to such Trustee against any liability, cost or expense (including reasonable counsel fees and disbursements) which may be incurred in connection with such action, other
than any such liability, fee, cost or expense that results from (a) in the case of handling of funds, the failure to exercise the same degree of care and skill as is customarily exercised by similar institutions in the receipt and disbursement of
moneys under similar circumstances, and (b) in all other cases, the willful misconduct or gross negligence of such Trustee; and, if a Certificateholder shall have directed such Trustee to take any such action or refrain from taking any action, such
Certificateholder agrees to furnish such indemnity as shall be required and, in addition, to the extent not otherwise paid pursuant to the provisions of the Master Lease or of the Participation Agreement, to pay the reasonable compensation of such
Trustee for the services performed or to be performed by it pursuant to such direction and any 
  

Trust Agreement 

  
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fees and disbursements of counsel or agents employed by such Trustee in connection therewith. No Trustee shall be required to take any action under Section 6.5 or 6.6 hereof with
respect to any Portfolio, nor shall any other provisions of this Trust Agreement be deemed to impose a duty on any Trustee to take any action, if such Trustee shall reasonably determine, or shall have been advised by counsel, that such action with
respect to the Trust Estate is contrary to the terms of this Trust Agreement or the applicable SUBI Supplement, or of any of the other Operative Documents to which such Trustee or the Trust is a party or is otherwise contrary to law, and such
Trustee in such case shall deliver promptly to the Trust Certificateholders of such Portfolio written notice of the basis to its refusal to act. 

SECTION 6.8. Management of the Trust Estate. No Trustee shall have any duty or obligation with respect to the Trust
Estate to manage, control, use, sell, operate, store, lease, maintain, inspect, conduct or obtain any environmental study of, conduct any environmental cleanup of, dispose of or otherwise deal with, the Sites or any other part of the Trust Estate or
otherwise to take or refrain from taking any action under or in connection with any Operative Document to which from time to time such Trustee or the Trust is or is to become a party with respect to the Sites, except as expressly provided by the
terms of this Trust Agreement or the applicable SUBI Supplement, or as expressly provided in written instructions from the Trust Certificateholders of the respective Portfolio pursuant to Section 6.5 or 6.6 hereof, and no implied duties or
obligations shall be read into this Trust Agreement against the Trustee. Notwithstanding the foregoing provisions of this paragraph, each Trustee agrees that it will, in its individual capacity and at its own cost and expense, promptly take all
action as may be necessary to discharge any Lessor’s Liens arising by, through or under it in its individual capacity on any part of the Trust Estate which arose from any act of, or claim against it, but not resulting from or related to the
transactions contemplated by the Operative Documents. 
 SECTION 6.9. Certain Statutory Trust Covenants of the
Trustees. Until the Trust Estate shall have been terminated in accordance with Article XI, the Trustees shall, and will cause the Trust Estate to (but only to the extent that the Trustees are expressly and specifically
required to act hereunder): 
 (a) observe all procedures required by, and comply with the requirements and limitations of, the certificate
of trust filed pursuant to Section 3810(a) of the Statutory Trust Statute and this Trust Agreement as the “governing instrument” (as such term is defined in Section 3801(d) of the Statutory Trust Statute) in respect of the Trust Estate;

 (b) maintain the Trust’s existence in good standing as a “statutory trust” (as such term is defined in Section 3801(a) of
the Statutory Trust Statute); 
 (c) act solely in the name of the Trust in the conduct of the Trust permitted activities; 

(d) hold the Trust out to the public (including to any creditors of the Trust Estate) under the Trust’s name as an entity separate and
distinct from the U.S. Bank Trust National Association, the Owner Participant, the UTI Trustee, any SUBI Trustee, and any holder of the UTI Certificate or SUBI Certificate; 
  

Trust Agreement 

  
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 (e) conduct the business of the Trust solely in the name of the Trust and not so as to mislead
others as to the separate identities of the Trust Estate, U.S. Bank Trust National Association, the Owner Participant, the UTI Trustee, any SUBI Trustee, and any holder of the UTI Certificate or SUBI Certificate and, without limiting the foregoing,
make any written communications solely in the name of the Trust or Trustee on the Trust’s behalf, or the holder of the UTI Certificate or SUBI Certificate, if they relate to the Trust Estate, and solely in the individual name of the Trustee if
they relate to the Trustee in its individual capacity; 
 (f) maintain the Trust’s records and books of account correctly and
separately from those of the Trustee in its individual capacity and the Trust Certificateholders and, subject to Section 13.4 hereof, not commingle the Trust Estate with the assets of the Trustee in its individual capacity or the Trust
Certificateholders; 
 (g) maintain any financial statements of the Trust Estate separate and distinct from those of the Trustee in its
individual capacity and the Trust Certificateholders and, unless Applicable Law otherwise requires, file any tax returns of the Trust separate from any tax returns of the Trustee in its individual capacity and the Trust Certificateholders; and 

(h) maintain the Trust’s certificate of trust, this Trust Agreement and any other governing instrument in respect of the Trust Estate as
official records of the Trust. 
 ARTICLE VII 

CONCERNING THE TRUSTEE 

SECTION 7.1. Standard of Care. Each Trustee accepts the trusts hereby created and agrees to perform the same but only
upon the terms of this Trust Agreement. No Trustee shall be answerable or accountable to the Owner Participant, the holder of the UTI Certificate or the holder of any SUBI Certificates, under any circumstances except that each Trustee, in its
individual capacity, shall be liable (i) in the case of handling funds, for failure to exercise the same degree of care and skill as is customarily exercised by similar institutions in the receipt and disbursement of moneys under similar
circumstances, and, in all other cases, for its failure to perform the express terms hereof or otherwise or for its own willful misconduct or gross negligence, (ii) for liabilities that may result from the inaccuracy of any representation or
warranty of such Trustee made in its individual capacity in any Operative Document or from the failure of such Trustee to perform the agreements contained in the last sentence of Section 6.8 hereof (or expressly undertaken by it, in its
individual capacity, in any other Operative Documents) and (iii) for any taxes, charges or fees payable by such Trustee for fees, compensation or commissions received by such Trustee for acting as trustee or for services rendered in connection with
the transactions contemplated hereby. 
 SECTION 7.2. No Duties of Maintenance, Etc. Except in accordance with
written instructions furnished by the Trust Certificateholders of a Portfolio pursuant to Section 6.5 or 6.6 hereof or except as otherwise provided in Section 6.9 or the last sentence of Section 6.8 hereof, a Trustee shall have
no duty with respect to the Trust Estate (i) to see to any recording or filing of this Trust Agreement, any other Operative Document, any other instrument or document described in this Trust Agreement, any supplement to any thereof or any Lien or to
see to the 
  
 Trust Agreement 

  
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maintenance of any such documentation, recording or filing, (ii) to see to any insurance on the Sites or any other part of the Trust Estate or to effect or maintain any such insurance, other than
to receive and forward to the Trust Certificateholders of such Portfolio, any notices, policies, certificates, cover notes or binders furnished to the Trustee pursuant to the Participation Agreement or the Master Lease, (iii) to see to the payment
or discharge of any tax, assessment or other governmental charge or any Lien of any kind owing with respect to, assessed or levied against, any part of the Trust Estate or make or prepare any reports or returns related thereto, or, except as
required by the Operative Documents, upon the request of the Trust Certificateholders of such Portfolio or the Lessee and pursuant to specific instructions, to execute and/or file any such reports or returns provided to it in execution form,
provided that if any Certificateholder or the Lessee shall instruct the Trustee to prepare any tax returns in connection with the Sites, the Trustee shall cooperate with such Certificateholder or the Lessee in carrying out such instructions at the
expense of such Trust Certificateholder, (iv) to confirm, verify or inquire into the failure of the Lessee to send any reports or financial statements of the Lessee, (v) to inspect the Sites at any time or ascertain or inquire as to the performance
or observance of the covenants of the Lessee or any other Person under the Operative Documents with respect to the Sites or (vi) to approve as satisfactory to it or consent to any matter required by the terms of the Operative Documents or of any
other instrument or document executed and delivered by the Trustee pursuant to Article I hereof to be satisfactory to the Trustee or consented to by the Trustee. Notwithstanding the foregoing, the Trustee shall furnish at the request of the
Trust Certificateholders of the affected Portfolio, promptly upon receipt thereof, duplicates or copies of all reports, notices, requests, demands, certificates, financial statements and other instruments furnished to the Trustee under the Operative
Documents to the extent that any of the same shall not state on its face or otherwise that it has been previously furnished directly to such Person. The Trustee shall not incur any liability for furnishing such duplicates or copies to any Trust
Certificateholders who are subsequently determined not to be Trust Certificateholders of the affected Portfolio, as long as such action does not constitute Trustee’s gross negligence or willful misconduct. 

SECTION 7.3. Representations and Warranties. EACH TRUSTEE, AS TRUSTEE AND IN ITS INDIVIDUAL CAPACITY, HEREUNDER
MAKES (i) NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE VALUE, CONDITION, DESIGN, OPERATION, MERCHANTABILITY OR FITNESS FOR USE OF THE SITES OR ANY PART THEREOF, OR AS TO THE TITLE THERETO, OR ANY OTHER REPRESENTATION OR WARRANTY WITH
RESPECT TO THE SITES WHATSOEVER, except that each applicable Trustee (not in its individual capacity but solely as trustee) hereby represents and warrants to all Trust Certificateholders, in the case of the Owner Trustee, or the Trust
Certificateholders of the UTI Portfolio, in the case of the UTI Trustee, or the Trust Certificateholders of the respective SUBI Portfolio, in the case of a SUBI Trustee, that (1) such Trustee shall receive whatever title is conveyed to it by the
vendors of the Sites and (2) the Sites shall at all times be free of Lessor’s Liens caused by or relating to such Trustee or resulting from any claims against such Trustee, and (ii) no representation or warranty as to the validity, legality or
enforceability of this Trust Agreement or any of the instruments or documents described herein or as to the correctness of any statement contained in any thereof or the due creation or perfection of any Lien purported to be created by any thereof,
except (A) to the extent any representation, warranty or statement is expressly made therein or in any written certificate delivered pursuant thereto by such Trustee and (B) that such Trustee hereby represents and 

 
 Trust Agreement 

  
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warrants to the Trust Certificateholders that this Trust Agreement has been, and (assuming due authorization, execution and delivery by the Owner Participant, the holder of the UTI Certificate
and the holders of SUBI Certificates of this Trust Agreement or any supplement thereto, as the case may be) each document described in Article I hereof or in any SUBI Supplement to be entered into or accepted by such Trustee has been, or at
the time of execution and delivery of any such document by such Trustee hereunder or pursuant to the terms of the Participation Agreement will be, executed and delivered or accepted by, or on behalf of, such Trustee by one of its officers who is, or
at the time of execution and delivery or acceptance was or will be, duly authorized to execute and deliver or accept such documents on behalf of such Trustee. 

SECTION 7.4. Reliance on Writings, Use of Agents, Etc. No Trustee shall incur any liability to anyone in acting upon
any signature, instrument, notice, resolution, request, consent, telegram, order, certificate, report, opinion, bond or other document or paper believed by it in good faith to be genuine and believed by it in good faith to be signed or sent by the
proper party or parties. Unless other evidence in respect thereof is specifically prescribed herein, any request, direction, order or demand of the Trust Certificateholders or the Lessee mentioned herein or in any of the Operative Documents to which
such Trustee is a party, shall be sufficiently evidenced by written instruments signed by a Responsible Officer of the Trust Certificateholders or the Lessee, as the case may be. Each Trustee may accept in good faith without investigation as to the
facts or matters contained therein, a copy of a resolution of the Board of Directors or the Executive Committee, if any, of the Lessee or of the Trust Certificateholders certified by a Responsible Officer of the Lessee or the Trust
Certificateholders as duly adopted and in full force and effect, as conclusive evidence that such resolution has been duly adopted by such Board of Directors or Executive Committee and that the same is in full force and effect. As to any fact or
matter the manner of ascertainment of which is not specifically prescribed herein, a Trustee may for all purposes hereof rely on a certificate, signed by a Responsible Officer of the Lessee or of the Trust Certificateholders of any Portfolio as the
case may be, as to such fact or matter, and such certificate shall constitute full protection to the Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon. In the performance of its duties hereunder, a Trustee
may execute any of the trusts or powers hereof and perform its powers and duties hereunder directly or through agents or attorneys and may, at the expense of the applicable Portfolio, consult with counsel, accountants and other skilled persons to be
selected and employed by it or them, and such Trustee shall not be liable for anything done, suffered or omitted by it or them, as applicable, in good faith in accordance with the advice or opinion of any such counsel, accountants or other skilled
persons and such Trustee shall not be liable for the negligence of any such agent, attorney, counsel, accountant or other skilled person appointed by it or them, as applicable, in good faith. 

SECTION 7.5. Trustee Liability. (a) The Trustees accept the trusts hereby created and agree to perform their duties
hereunder with respect to the same but only upon the terms of this Trust Agreement and any SUBI Supplement, if applicable. Except as provided in Section 7.1, the Trustees shall not be personally liable under any circumstances, except for their own
willful misconduct or gross negligence. In particular, but not by way of limitation: 
 (i) No Trustee shall be personally liable for any
error of judgment made in good faith by an officer, employee or agent of such Trustee; 
  

Trust Agreement 

  
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 (ii) No provision of this Trust Agreement, or any SUBI Supplement, if applicable, shall require
any Trustee to expend or risk its personal funds or otherwise incur any financial liability in the performance of its rights or duties hereunder, if such Trustee shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured or provided to it; 
 (iii) Under no circumstance shall any Trustee be
personally liable for any representation, warranty, covenant or indebtedness of the Trust; 
 (iv) The Trustees shall not be personally
responsible for or in respect of the genuineness, form or value of the Trust property, the validity or sufficiency of this Trust Agreement or for the due execution hereof by the settlor and Initial Beneficiary; 

(v) All funds deposited with a Trustee hereunder may be held in a non-interest bearing trust account and such Trustee shall not be liable for
any interest thereon or for any loss as a result of the investment thereof at the direction of any Person; and 
 (vi) To the extent that, at
law or in equity, a Trustee has duties and liabilities relating thereto to the settlor, the Initial Beneficiary, any Trust Certificateholder or the Trust, such Person agrees that such duties and liabilities are replaced by the terms of this Trust
Agreement and the applicable SUBI Supplement. 
 (b) Notwithstanding anything contained herein to the contrary, neither U.S. Bank Trust
National Association nor any Trustee shall be required to take any action in any jurisdiction other than the State of Delaware if the taking of such action will (i) require the consent or approval or authorization or order of or the giving of notice
to, or the registration with or the taking of any other action in respect of, any state or other governmental authority or agency of any jurisdiction other than the State of Delaware, (ii) result in any fee, tax or other governmental charge under
the laws of any jurisdiction or any political subdivision thereof in existence becoming payable by U.S. Bank Trust National Association, or (iii) subject U.S. Bank Trust National Association to personal jurisdiction in any jurisdiction other than
the State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by U.S. Bank Trust National Association or any Trustee, as the case may be, contemplated hereby. 

ARTICLE VIII 
 EFFECT OF
SALES BY TRUSTEE 
 SECTION 8.1. Effect of Sales by Trustee. Any sale of all or any part of the Trust Estate by
the Trustee or its agent or agents in compliance with the provisions of this Trust Agreement shall with respect to the Trust Estate bind the Trust Certificateholders and shall be effective for the benefit of the purchasers thereof and their
respective successors and assigns to divest and transfer all right, title and interest of the Trustee in the property so sold, and no such purchasers shall be required to inquire as to compliance by the Trustee with any of the terms of this Trust
Agreement or to see to the application of any consideration paid for such property. 
  

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 ARTICLE IX 

RESIGNATION AND REMOVAL OF TRUSTEE; APPOINTMENT 

OF SUCCESSORS; CO-TRUSTEE 

SECTION 9.1. Resignation; Successor Trustee. (a) The Owner Trustee or any successor may resign at any time without cause by
giving at least thirty (30) days’ prior written notice to all Trust Certificateholders and (as long as any lease between Lessee and any Lessor remains in force and effect and no Lease Event of Default or Lease Default has occurred and is
continuing) the Lessee, such resignation to be effective upon the acceptance of appointment of a successor trustee as hereinafter provided. In addition, the holders of all of the UTI Certificates and the holders of all of the SUBI Certificates may
at any time remove the Owner Trustee with or without cause by an instrument in writing, delivered to the Owner Trustee and (as long as any lease between Lessee and any Lessor remains in force and effect and no Lease Event of Default or Lease Default
has occurred and is continuing) the Lessee, such removal to be effective upon the acceptance of appointment by the successor trustee as hereinafter provided. In the case of the resignation or removal of the Owner Trustee, the holders of all of the
UTI Certificates and the holders of all of the SUBI Certificates shall appoint a successor trustee or trustees (reasonably satisfactory to Lessee, as long as any lease between Lessee and any Lessor remains in force and effect and no Lease Event of
Default, or Lease Default has occurred and is continuing) by an instrument signed by the holders of all of the UTI Certificates and the holders of all of the SUBI Certificates. If all of the Trust Certificateholders shall not have appointed a
successor trustee or trustees pursuant to the preceding sentence within thirty (30) days after such resignation or removal, the Owner Trustee shall continue as Owner Trustee and may apply to any court of competent jurisdiction to appoint a successor
trustee to act until such time, if any, as a successor or successors shall have been appointed by the holders of all of the UTI Certificates and the holders of all of the SUBI Certificates as above provided; any successor Owner Trustee so appointed
by such court shall immediately and without further act be superseded by any successor Owner Trustee thereafter appointed by the Trust Certificateholders. Notwithstanding the foregoing provisions of this paragraph, if the fees and expenses payable
to the Owner Trustee as provided in Section 5.3 hereof are not paid, the Owner Trustee may resign by giving at least sixty (60) days’ prior written notice to the holders of all of the UTI Certificates and the holders of all of the SUBI
Certificates and (as long as any lease between Lessee and any Lessor remains in force and effect and no Lease Event of Default or Lease Default has occurred and is continuing) the Lessee and shall not be required nor suffer any liability for failing
to await the appointment of a successor trustee or trustees. 
 A successor owner trustee hereunder shall be deemed an Owner Trustee for all
purposes hereof, and each reference herein to such Owner Trustee shall thereafter be deemed to include such successor. 
 (b) The UTI
Trustee or any successor may resign at any time without cause by giving at least thirty (30) days’ prior written notice to the UTI Certificateholders and (as long as the Master Lease (as defined with respect to the UTI Portfolio only) remains
in force and effect and no Lease Event of Default or Lease Default has occurred and is continuing) the Lessee, such resignation to be effective upon the acceptance of appointment of a successor trustee as 

 
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hereinafter provided. In addition, the holders of the UTI Certificates may at any time remove the UTI Trustee with or without cause by an instrument in writing, delivered to the UTI Trustee and
(as long as the Master Lease (as defined with respect to the UTI Portfolio only) remains in force and effect and no Lease Event of Default or Lease Default has occurred and is continuing), the Lessee such removal to be effective upon the acceptance
of appointment by the successor trustee as hereinafter provided. In the case of the resignation or removal of the UTI Trustee, the holders of the UTI Certificates shall appoint a successor trustee or trustees (reasonably satisfactory to Lessee, as
long as the Master Lease (as defined with respect to the UTI Portfolio only) remains in force and effect and no Lease Event of Default or Lease Default has occurred and is continuing) by an instrument signed by the holders of the UTI Certificates.
If the UTI Certificateholders shall not have appointed a successor trustee or trustees within thirty (30) days after such resignation or removal, the UTI Trustee shall continue as UTI Trustee and may apply to any court of competent jurisdiction to
appoint a successor trustee to act until such time, if any, as a successor or successors shall have been appointed by the holders of the UTI Certificates as above provided; any successor UTI Trustee so appointed by such court shall immediately and
without further act be superseded by any successor UTI Trustee thereafter appointed by the UTI Certificateholders. Notwithstanding the foregoing provisions of this paragraph, if the fees and expenses payable to the UTI Trustee as provided in
Section 5.3 hereof are not paid, the UTI Trustee may resign by giving at least sixty (60) days’ prior written notice to the holders of the UTI Certificates and (as long as the Master Lease (as defined with respect to the UTI Portfolio
only) remains in force and effect and no Lease Event of Default or Lease Default has occurred and is continuing) the Lessee and shall not be required nor suffer any liability for failing to await the appointment of a successor trustee or trustees.

 A successor trustee hereunder shall be deemed a UTI Trustee for all purposes hereof, and each reference herein to such UTI Trustee shall
thereafter be deemed to include such successor. 
 (c) Any SUBI Trustee or any successor may resign at any time without cause by giving at
least thirty (30) days’ prior written notice to the applicable SUBI Series Certificateholders and (as long as the Master Lease (as defined in the applicable SUBI Supplement) remains in force and effect and no Lease Event of Default or Lease
Default has occurred and is continuing) the Lessee, such resignation to be effective upon the acceptance of appointment of a successor trustee as hereinafter provided. In addition, the holders of all of the applicable SUBI Certificates may at any
time remove the applicable SUBI Trustee with or without cause by an instrument in writing, delivered to the applicable SUBI Trustee and (as long as the Master Lease (as defined in the applicable SUBI Supplement) remains in force and effect and no
Lease Event of Default or Lease Default has occurred and is continuing) the Lessee, such removal to be effective upon the acceptance of appointment by the successor trustee as hereinafter provided. In the case of the resignation or removal of the
SUBI Trustee, the holders of the applicable SUBI Certificates, as the case may be, shall appoint a successor trustee or trustees (reasonably satisfactory to Lessee, as long as the Master Lease (as defined in the applicable SUBI Supplement) remains
in force and effect and no Lease Event of Default or Lease Default has occurred and is continuing) by an instrument signed by the holders of the applicable SUBI Certificates, as the case may be. If the applicable SUBI Certificateholders, as the case
may be, shall not have appointed a successor trustee or trustees within thirty (30) days after such 
  

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resignation or removal, the applicable SUBI Trustee shall continue as such SUBI Trustee and may apply to any court of competent jurisdiction to appoint a successor trustee to act until such time,
if any, as a successor or successors shall have been appointed by the applicable holders of SUBI Certificates, as the case may be, as above provided; any successor SUBI Trustee so appointed by such court shall immediately and without further act be
superseded by any successor SUBI Trustee thereafter appointed by the applicable SUBI Certificateholders. Notwithstanding the foregoing provisions of this paragraph, if the fees and expenses payable to the SUBI Trustee as provided in the applicable
SUBI Supplement are not paid, the SUBI Trustee may resign by giving at least sixty (60) days’ prior written notice to the holders of the applicable SUBI Certificates, as the case may be, and (as long as the Master Lease (as defined in the
applicable SUBI Supplement) remains in force and effect and no Lease Event of Default or Lease Default has occurred and is continuing) the Lessee shall not be required nor suffer any liability for failing to await the appointment of a successor
trustee or trustees. 
 A successor trustee hereunder shall be deemed a SUBI Trustee for all purposes hereof, and each reference herein to
such SUBI Trustee shall thereafter be deemed to include such successor. 
 All notices provided pursuant to this Section 9.1 shall
simultaneously be provided to the PBGC so long as the PPPFA remains in effect. 
 SECTION 9.2. Acceptance of
Appointment. Any successor trustee, whether appointed by a court or by the applicable Certificateholder, shall execute and deliver to its predecessor Trustee an instrument reasonably satisfactory to such predecessor Trustee accepting
such appointment and shall give the applicable Certificateholder and (as long as the Master Lease or any other lease between Lessee and any Trustee remains in force and effect and no Lease Event of Default or Lease Default has occurred and is
continuing) the Lessee, notice of such acceptance, and thereupon such successor trustee, without further act, shall with respect to the Trust become vested with all the estates, properties, rights, powers, duties and trusts of the predecessor
Trustee in the trusts hereunder with like effect as if originally named as a Trustee herein; but nevertheless upon the written request of such successor trustee such predecessor Trustee shall execute and deliver an instrument reasonably satisfactory
to such successor trustee transferring to such successor trustee, upon the trusts herein expressed, all the estates, properties, rights, powers and trusts of such predecessor Trustee, and such predecessor Trustee shall duly assign, transfer, deliver
and pay over to such successor trustee any property or monies then held by such predecessor Trustee upon the trusts herein expressed. Upon the appointment of any successor Trustee hereunder, the predecessor Trustee, pursuant to written instructions
of the applicable Certificateholder, will execute all documents and take all reasonable actions within its control in order to cause title to the Trust Estate or applicable portion thereof to be transferred to the successor trustee. 

SECTION 9.3. Qualification of Successor Trustee. Any successor to a Trustee, however appointed, shall be a bank or trust
company organized under the laws of the United States or any jurisdiction thereof having a combined capital and surplus of at least $100,000,000 and (as long as the Master Lease or any other lease between Lessee and any Trustee remains in force and
effect and no Lease Event of Default or Lease Default has occurred and is continuing) reasonably acceptable to the Lessee, if there be such an institution willing, able and legally qualified to perform the duties of the Trustee hereunder upon
reasonable or customary terms. 
  
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 SECTION 9.4. Merger of Trustee. Any corporation into which the institution acting as a
Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from or surviving any merger, conversion or consolidation to which the institution acting as Trustee shall be a party, or any corporation to which
substantially all the corporate trust business of the institution acting as Trustee may be transferred, shall, subject to the terms of this Article, succeed to the Trustee’s position as Trustee under this Trust Agreement without any further
act. The Trustee shall give written notice to the Security Trustee of any merger, consolidation, conversion or other similar act that results in a change of name of such Trustee. 

SECTION 9.5. Status of Successor Trustee. A successor trustee shall have the same duties, powers and discretion conferred herein
on the predecessor Trustee. A successor trustee may accept the assets of the Trust Estate delivered to it by its predecessor Trustee as constituting the entire assets of the Trust Estate and shall not be required to take any action to determine what
constitutes the Trust Estate or to obtain possession of any assets thereof or to investigate any acts, omissions or misconduct of its predecessor Trustee. 

SECTION 9.6. Co-Trustee. At any time or times, for the purpose of meeting the legal requirements of any jurisdiction in which any
part of the Trust Estate hereunder may at the time be located, each Trustee shall have power to appoint one or more persons (who may be officers of such Trustee) or institutions to act as co-trustee, jointly with such Trustee or separately from such
Trustee at the direct instruction of the holders of the UTI Certificate or the SUBI Certificates, as the case may be, in either case as required by applicable state law, of all or any part of the Trust Estate hereunder, or of any property
constituting part thereof, in either case with such powers as may be provided in the instrument of appointment, and to vest in such person or persons in the capacity as aforesaid, any property, title, right or power deemed necessary or desirable.
All provisions of this Trust Agreement which are for the benefit of a Trustee shall extend to and apply to each co-trustee appointed pursuant to the foregoing provisions of this Section, including, without limitation, Section 5.2 hereof,
which provides for indemnification of such Trustee by the respective Trust Certificateholders. 
 SECTION 9.7. No Petition. 

 (a) Each of the Trustees, the Initial Beneficiary, the Trust Certificateholders and each holder and pledgee of any beneficial interest in
the Trust, in consideration of the transactions contemplated by this Trust Agreement, hereby covenants and agrees with the others that, prior to the date which is one year and one day after the termination of each and every Series of the Trust, it
will not institute against, or join any other Person in instituting against, the Trust, the Undivided Trust Interest, the UTI Assets or any SUBI, SUBI Portfolio or SUBI Assets, any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings or other similar proceedings under the laws of the United States or any state of the United States. With respect to each SUBI Supplement to this Trust Agreement, notwithstanding the second sentence of Section 4.2(b) and Section
11.5(a) hereof, each SUBI Supplement shall contain the comparable covenant of the applicable SUBI Series Certificateholders and the applicable SUBI Series Certificateholders will cause each applicable lender, agent and 

 
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indenture trustee to execute and deliver a comparable covenant. This Section 9.7 shall survive the termination of this Trust Agreement or the resignation or removal of any Trustee under
this Trust Agreement. 
 (b) To the fullest extent permitted by law, no bankruptcy, reorganization arrangement, insolvency or
liquidation proceeding or other proceedings under any Federal or state bankruptcy, insolvency or similar law shall be instituted or joined in by the Trust without the unanimous consent of (i) all Trustees and Certificateholders hereunder and (ii) so
long as the PPPFA remains in effect, the PBGC. A SUBI Trustee shall not so consent unless directed in writing to do so by the holder of the applicable SUBI, the UTI Trustee shall not so consent unless directed in writing to do so by the
holder of the UTI Certificate and the Owner Trustee shall not so consent unless directed in writing to do so by all of the Trust Certificateholders.  

SECTION 9.8. Change of Trustee/Massachusetts. Upon any change of Trustee, the successor trustee shall record a notice of
the change in trustee and the appointment of the successor trustee in the land records in any county in Massachusetts where any Sites are located. 

ARTICLE X 
 TRANSFER OF
TRUST CERTIFICATEHOLDER’S INTEREST 
 SECTION 10.1. Restrictions on Transfer or Assignment. Each Trust
Certificateholder agrees that: 
 (a) Each Trust Certificateholder may, at any time after the execution and delivery of this Trust
Agreement, and to the extent not prohibited by the PPPFA, assign, convey or otherwise transfer (herein referred to as an assignment) all or any portion of its right, title or interest hereunder with respect to the trusts created hereby or the
Trust Estate to (i) any Affiliate of such Trust Certificateholder, (ii) any other Trust Certificateholder or any Affiliate of any such other Trust Certificateholder, or (iii) with the consent of the Lessee, to any other Person; provided,
however, that (A) each assignment or transfer shall comply with all applicable securities laws, and (B) no consent of the Lessee shall be required after an Event of Default shall have occurred and be continuing. Each assignee or
transferee acknowledges that the obligations to be performed from and after the date of such transfer or assignment under this Trust Agreement and all other Operative Documents are its obligations, including the obligations imposed by this
Section 10.1(a) and further represents and warrants to each Trust Certificateholder, each Trustee and the Lessee as set forth in Section 6 of the Participation Agreement and that: 

(1) it is a “domestic corporation” within the meaning of Code section 7701(a) that is either an Affiliate of the
assignor (in which case, unless such Affiliate shall otherwise qualify as an Institutional Investor, the assignor shall remain secondarily liable for the obligations so assigned) or an Institutional Investor; 

(2) it shall execute and deliver an assignment and assumption agreement in the form attached to the Participation Agreement as
Exhibit C 
  
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whereby such assignee agrees to be bound by all of the terms and provisions of, and to assume and confirm all of the obligations of the assignor under, the Trust Agreement and each other
Operative Document to the extent of the interest assigned; 
 (3) it has a net worth or combined capital and surplus of not
less than $50,000,000 (or shall provide a guaranty of its obligations under the Operative Documents from a Person which has such a net worth or combined capital and surplus); 

(4) it has the requisite power and authority to accept such assignment or transfer; 

(5) it will not transfer any interest in the Trust Estate unless the proposed transferee makes the foregoing representations
and covenants; 
 (6) it will not take any action with respect to such interest in the Trust Estate that would violate any
applicable securities laws; 
 (7) it will not assign or transfer any interest in the Trust Estate except in compliance with
this Article X and Section 3 (b)(1) of the Participation Agreement. 
 (8) it shall satisfy
substantially all of the provisions contained in sections 3, 6, 7, and 9 of the Amended and Restated Certificate of Incorporation of the Owner Participant. 

(b) Upon any such assignment, the transferor or assignor shall be released from its obligations hereunder and under the other Operative
Documents to the extent of the interest transferred (except as specified above). 
 (c) Notwithstanding anything to the contrary herein
contained, no transferee or assignee of any UTI Certificateholder during the Lease Term may be a Competitor of Sears, Roebuck and Co. or an Affiliate of a Competitor. The term Competitor shall mean, at any date, a Person engaged in (a) retailing of
mass merchandise and related services to the general public and/or foreigners, (b) retail food distribution, (c) wholesale membership clubs, wholesale distribution of food, mass and/or general merchandise, unless such wholesale distribution is of
products manufactured by such person or its affiliate, and/or (e) import/export and/or storage activities ancillary to the activities of (a) through (d) above or competitor in other significant business of Lessee as specified in good faith by Lessee
from time to time. 
 (d) Notwithstanding anything to the contrary herein contained no assignee (or Affiliate thereof) during the Lease Term
may be (a) a party to any material litigation or arbitration (whether as a plaintiff or a defendant) with the Lessee or any of its Affiliates which is material to the Lessee or such Affiliate, respectively or (b) attempting a hostile takeover of the
Lessee or any of its Affiliates. 
  
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 (e) The provisions of this Article X shall apply whether the assignment is direct or
accomplished indirectly through a transfer of stock of other interests, except in connection with any sale, merger, consolidation or similar event with respect to the Trust Certificateholders or any shareholder or other equity holder of interests in
the Trust Certificateholder or any successor or any permitted assignee or any direct or indirect owner of any interest in any thereof. 

(f) No assignment shall in any way increase the amount of liability for any indemnity under the Operative Documents that the Lessee may be
exposed to over the amount of liability that would have been incurred had such Assignment not occurred or result in any modifications to the Operative Documents adverse to the Lessee. 

(g) Notwithstanding anything to the contrary herein contained, no transfer or assignment shall be permitted if it will violate Section 4.6 of
this Trust Agreement. 
 SECTION 10.2. Notice of Transfer. If a proposed transfer or assignment requires consent, the
transferring Trust Certificateholder shall give ten (10) Business Days’ prior written notice specifying the name and address for notice of the proposed transferee or assignee to the applicable Trustee and, as long as no Event of Default shall
have occurred and be continuing, the Lessee. 
 The transferor, assignor, transferee or assignee shall pay all fees, expenses, disbursements
and costs (including, without limitation, legal and other professional fees and expenses) incurred by the Trustees and (unless an Event of Default under the Master Lease has occurred and is continuing) the Lessee in connection with any assignment
pursuant to this Article X. 
 ARTICLE XI 

TERMINATION OF AND AMENDMENT TO TRUST 

SECTION 11.1. Dissolution. (a) Notwithstanding any other provision of this Trust Agreement to the contrary, and any provision of law
that otherwise so empowers the Trust, the Trust shall not, so long as any, indebtedness secured by any Mortgage on the Sites remains outstanding or the PPPFA remain in effect, without (i) the consent of the lender of such indebtedness, (ii) the
unanimous affirmative consent of the Trust Certificateholder (including the consent of the Independent Director, if, at such time, the Trust Certificateholder is required by its certificate of incorporation to have an independent director), and
(iii) the affirmative written consent of the PBGC: (a) dissolve, terminate or liquidate or consolidate or merge with or into any Person, or transfer the assets of the Trust, or cause the Limited Partnership or the General Partner to dissolve,
terminate or liquidate or consolidate or merger with or into any Person, (b) approve any act as a result of which the Trust, the Limited Partnership or the General Partner would be involved in any Bankruptcy Action; (c) cause the Trust, the
Limited Partnership or the General Partner to engage in any business or activity other than as set forth in its Certificate of Incorporation, Articles of Organization or Operating Agreement or Certificate of Limited Partnership, Certificate of
Formation or Agreement of Limited Partnership (or any successor agreement thereto, however designated); (d) incur or assume any indebtedness, or cause the 
  

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Limited Partnership or the General Partner to incur or assume any indebtedness, except such indebtedness which is permitted pursuant to Section 2.1(c) of this Trust Agreement; or (e) amend this
Trust Agreement to change, modify or delete any provisions therein similar to those set forth in this Section so as to jeopardize the Trust’s qualification as the equivalent of a single purpose entity. Subject to the foregoing, the Trust
reserves the right to amend, alter, change or repeal any provision contained in this Trust Agreement, in the manner now or hereafter prescribed by statute, and all rights conferred herein are granted subject to this reservation. 

(b) As used herein, the term Bankruptcy Action means: 

(i) The commencement of any case or proceeding in respect of the Trust under any federal or state law relating to bankruptcy,
insolvency, reorganization or relief of debtors; 
 (ii) The institution of any proceedings to have the Trust adjudicated as
bankrupt or insolvent; 
 (iii) The consent to the institution of bankruptcy or insolvency proceedings against the Trust;

 (iv) The filing of a petition, or the consent to a petition, seeking reorganization, arrangement, adjustment, winding up,
dissolution, composition, liquidation or other relief of the Trust’s debts under any federal or state law relating to bankruptcy; 

(v) The seeking or consenting to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or custodian for
the Trust or for all or substantially all of its or any of its properties; or 
 (vi) The making of an assignment for the
benefit of the creditors of the Trust; or 
 (vii) The taking by the Trust of any action in furtherance of any of the
foregoing. 
 SECTION 11.2. Termination of Trust Agreement. This Trust Agreement and the Trust created hereby shall
dissolve and wind up and the Trust Estate shall, subject to the Participation Agreement and Article VI of this Trust Agreement, be distributed to the Trust Certificateholders, as their interests may appear, and this Trust Agreement shall be
of no further force or effect and the Trust shall terminate upon the sale or other final disposition by the Trustees of all property constituting part of the Trust Estate and the final distribution by the Trustees of all moneys or other property or
proceeds constituting part of the Trust Estate in accordance with the terms of Article VI hereof. 
 SECTION 11.3. Termination
Upon Election After Lease Term. The provisions of Section 11.1 hereof notwithstanding, this Trust Agreement and the trust created hereby shall terminate and the Trust Estate shall be distributed to the Trust Certificateholders, as
their 
  
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interests may appear, and this Trust Agreement shall be of no further force and effect, upon the election of all of the Trust Certificateholders by notice to the Trustees, if such notice shall be
accompanied by the written agreement of all Trust Certificateholders assuming, respectively, all the obligations of the Trust and Trustee under or contemplated by the Operative Documents to which the Trust or Trustee is a party and all other
obligations of the Trust or Trustee incurred hereunder (other than obligations set forth in clauses (i) through (iii) of the second sentence of Section 7.1 hereof); provided, that no such election shall be effective without the prior written
consent of PBGC so long as the PPPFA remains in effect, and the Lessee, as long as the Lease Term as to any Site remains in effect and no Lease Event of Default shall have occurred and be continuing. Any such written agreement shall be reasonably
satisfactory in form and substance to the Trustee, the Trust Certificateholders and the Lessee (as long as the Lease Term as to any Site remains in effect and no Lease Event of Default shall have occurred and be continuing) and shall release the
Trustee from all further obligations of the Trustee hereunder and under the Operative Documents. 
 SECTION 11.4. Distribution of
the Trust Estate Upon Termination. Upon any termination of the Trust pursuant to the provisions of Section 11.1 or 11.2 hereof, the Trustee shall transfer title to each portion of the Trust Estate to the respective
Trust Certificateholders or their designee by a bill of sale or deed (or other additional instrument as may be necessary pursuant to Applicable Law) without recourse or warranty of any kind, except that the Trustee shall represent and warrant that
the Trust Estate is free and clear of all Lessor’s Liens attributable to the Trustee in its individual or trust capacity and not resulting from or arising out of the transactions contemplated by the Operative Documents, and, upon making such
transfer and accounting for all funds which have come into its hands, the Trustee shall be discharged and free of any further liability hereunder with respect to the trusts created hereby, except such liability, not payable out of the assets of the
Trust Estate, as may be shown then to exist in accordance with the other provisions of this Trust Agreement. 
 SECTION
11.5. Certificate of Cancellation. Upon termination of the Trust and satisfaction of all requirements and obligations of this Trust Agreement in accordance with the provisions hereof, the Owner Trustee is authorized to
file a Certificate of Cancellation and other related documents with the Secretary of State of Delaware. 
 SECTION 11.6. Supplements
and Amendments to this Trust Agreement and Other Documents.  
 (a) Subject to Section 13.19 hereof, at any time and from time to time,
(i) the Owner Trustee, together with all Trust Certificateholders, may execute and deliver an amendment or a supplement to this Trust Agreement for the purpose of adding provisions to or changing or eliminating provisions of this Trust Agreement as
specified in such a request, and (ii) upon the written request of all of the Trust Certificateholders, the Owner Trustee shall enter into such written amendment of or supplement to any of the other documents referred to herein as such Trust
Certificateholders may agree to (to the extent such agreement is required) and as may be specified in such request, or execute and deliver such written waiver or modification of the terms of any such other document as may be specified in such
request. 
  
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 (b) Subject to Section 13.19 hereof, at any time and from time to time, (i) the Trustee of a
Series, together with all affected Trust Certificateholders of such Series, may execute and deliver an amendment or a supplement to this Trust Agreement to the extent, but only to the extent, that it relates to such Series and does not affect any
other Series, for the purpose of adding provisions to or changing or eliminating provisions of this Trust Agreement and the respective Series as specified in such a request, and (ii) upon the written request of all of the Trust Certificateholders of
a Series, the Trustee for such Series shall enter into such written amendment of or supplement to any of the other documents referred to herein as such Trust Certificateholders may agree to (to the extent such agreement is required) and as may be
specified in such request, or execute and deliver such written waiver or modification of the terms of any such other document as may be specified in such request. 

(c) Prior to executing any document required to be executed by it pursuant to the terms of Section 11.5(a) hereof, any Trustee shall be
entitled to receive an opinion of counsel to the effect that the execution of such document is authorized hereunder. If, in the opinion of such Trustee, any such document adversely affects any right, duty, immunity or indemnity in favor of such
Trustee hereunder, or under any other Operative Document to which such Trustee is a party, such Trustee may in its discretion decline to execute such document. 

(d) No written request pursuant to Section 11.5(a) hereof shall be required to enable such Trustee to enter into amendments or
supplements the execution of which is authorized by Section 1.2 hereof. 
 (e) Notwithstanding Section 11.5(a) hereof, no
Trustee shall execute any amendment which amends Section 10.1, 11.1 or 11.2 without the consent of the Lessee, as long as the Lease Term as to any Site remains in effect and no Lease Event of Default shall have occurred and be
continuing. 
 SECTION 11.7. Limitations on Rights of Others. Except as expressly set forth in Sections 10.1,
11.1, 11.2, and 11.5(d) hereof and the other Operative Documents, nothing in this Trust Agreement, whether express or implied, shall be construed to give to any Person other than the Trustee and the Trust Certificateholders any
legal or equitable right, remedy or claim under or in respect of this Trust Agreement, any covenants, conditions or provisions contained herein or in the Trust Estate, all of which are and shall be construed to be for the sole and exclusive benefit
of the Trustee and the Trust Certificateholders. 
 SECTION 11.8. Termination of UTI Series or SUBI Series. The UTI
Series of the Trust or any SUBI Series of the Trust may be terminated upon the election of all of the UTI Certificateholders or all of the respective SUBI Certificateholders, as the case may be, without affecting or terminating any other remaining
Series of the Trust; provided, that no such election shall be effective without the prior written consent of the Lessee as long as the Lease Term as to any Site which is an asset of such Series remains in effect and no Lease Event of Default shall
have occurred and be continuing with respect thereto. Such termination shall be effected in accordance with Sections 11.1, 11.2 and 11.3 mutatis mutandis. 

 
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 ARTICLE XII 

TRUST CERTIFICATES 

SECTION 12.1. Intentionally Omitted.  

SECTION 12.2. Pledge of Rights to Distributions. The Owner Participant and any Trust Certificateholder may participate,
pledge, encumber or hypothecate all or any part of its right, title or interest hereunder. Any such participation, pledge, encumbrance or hypothecation shall not constitute a transfer or assignment of an ownership interest in the Trust. Unless
the foreclosure of any such participation, pledge, encumbrance or hypothecation is registered in accordance with Section 4.3 hereof, such foreclosure shall not constitute a transfer of an ownership interest in the Trust and the holder of the
related trust certificate following such foreclosure shall not be entitled to any rights as an owner under this Trust Agreement, other than the right to receive distributions under this Trust Agreement as contemplated by the first sentence of this
Section. 
 SECTION 12.3. Intentionally Omitted.  

ARTICLE XIII 

MISCELLANEOUS 
 SECTION
13.1. Entire Agreement. This Trust Agreement embodies the entire agreement and understanding between the Trust Certificateholders and the Trustees relating to the subject matter hereof and of the trusts created pursuant hereto and
upon execution and delivery of this Trust Agreement will supersede any prior agreements and understandings relating to the trusts created hereby. 

SECTION 13.2. Distributions. All money paid or payable to the Trust shall be allocated to the applicable UTI or SUBI
Portfolio and such amounts in excess of the amount due under the Mortgage Loan shall be distributed by the Trustee to, or as directed by, the Trust Certificateholders. 

SECTION 13.3. Transfer. The Trust shall not be restricted from enforcing, assigning, distributing, canceling, waiving, or
otherwise amending or modifying the Demand Note or any other evidence of indebtedness permitted by Section 2.1(c)(12). 
 SECTION
13.4. Capitalization Note Termination. If at any time a Site Lease is terminated as to any particular Site and the related Mortgage Loan is paid in full, the portion of the related Capitalization Demand Note (OP) with respect
to such Site may be cancelled upon the request of the maker of such note. 
 SECTION 13.5. Notices. All
communications, demands, notices and consents provided for herein shall be given in writing (either by certified or registered mail with return receipt requested, by reputable overnight courier, by personal delivery or by telecopier) addressed: (i)
if to the Initial Beneficiary, at c/o Sears Law Department, 6th Floor, 3333 Beverly Road, Hoffman 
  

Trust Agreement 

  
 37 

 
Estates, Illinois 60176, Attention: Steven Cook (telecopier - (312) 286-6059); (ii) if to the Owner Trustee or UTI Trustee, at U.S. Bank National Association, 190 South LaSalle Street, 7th Floor,
Chicago, IL 60603, Attn: Melissa A. Rosal ((telecopier (312) 332-7496); (iii) if to the Lessee, at c/o Sears Law Department, 6th Floor, 3333 Beverly Road, Hoffman Estates, Illinois 60176
Attention: Steven Cook (telecopier (312) 286-6059); (iv) if to any party to any SUBI Supplement, as provided in such SUBI Supplement, or at such other address as any party hereto or thereto may from time to time designate by notice duly given in
accordance with the provisions of this Section to the other parties hereto and, if applicable, to other parties to the related SUBI Supplement; and (v) if to the PBGC, at Pension Benefit Guaranty Corporation, Director, Corporate Financing and
Restructuring Department, 1200 K Street, N.W., Suite 270, Washington, DC 20005-4026. Notices under this Section 13.2 shall be deemed given only when received. 

SECTION 13.6. Situs of Trust; Governing Law; Consent to Jurisdiction. THIS TRUST AGREEMENT HAS BEEN, AND THE TRUST
CREATED HEREBY WILL BE LOCATED IN THE STATE OF DELAWARE AND THE VALIDITY, CONSTRUCTION AND ALL RIGHTS UNDER THIS TRUST AGREEMENT AND TRUST SHALL BE GOVERNED BY THE LAWS OF SUCH STATE. THE PARTIES HEREBY IRREVOCABLY (i) AGREE THAT ANY LEGAL OR
EQUITABLE ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS TRUST AGREEMENT OR ANY OTHER OPERATIVE DOCUMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY OR THE SUBJECT MATTER OF ANY OF THE FOREGOING MAY BE INSTITUTED IN ANY STATE
COURT OF COMPETENT JURISDICTION IN THE STATE OF DELAWARE, (ii) TO THE EXTENT PERMITTED BY APPLICABLE LAW, WAIVE ANY OBJECTION WHICH MAY NOW OR HEREAFTER EXIST TO THE VENUE OF ANY SUCH ACTION, SUIT OR PROCEEDING, INCLUDING, WITHOUT LIMITATION,
INCONVENIENT FORUM, AND (iii) SUBMIT TO THE NONEXCLUSIVE JURISDICTION OF ANY STATE COURT OF COMPETENT JURISDICTION IN THE STATE OF DELAWARE FOR PURPOSES OF ANY SUCH ACTION, SUIT OR PROCEEDING.  

SECTION 13.7. Non-Segregation of Moneys. All money received by the Trustees under or pursuant to any provision of this Trust
Agreement shall constitute trust funds for the purpose for which they were paid or are held, but need not be segregated in any manner from any other money except to the extent required by law and may be deposited by the Trustees under such
conditions as may be prescribed or permitted by law for trust funds, and the Trustees shall not be liable for any interest thereon, as long as such funds are remitted promptly after receipt. 

SECTION 13.8. Survival of Representations and Warranties. All representations and warranties contained herein shall survive
the execution and delivery of this Trust Agreement and the establishment of the Trust Estate and shall be considered relied upon by each other party hereto regardless of any knowledge or investigation made by or on behalf of any such party. 

SECTION 13.9. Severability of Invalid Provisions. Any provision of this Trust Agreement which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction 

 
 Trust Agreement 

  
 38 

 
shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Applicable Law, the parties hereto hereby waive any provision of law which
renders any provision hereof prohibited or unenforceable in any respect. 
 SECTION 13.10. Effect of Waiver. Waiver
of the breach of any provision hereunder shall not be deemed a waiver of any prior or subsequent breach of the same or any other provision hereof. 

SECTION 13.11. Remedies Not Exclusive. Pursuit of any remedy shall not be deemed the waiver of any other remedy
hereunder or at law or in equity. 
 SECTION 13.12. References to Agreements and Instruments. Except as otherwise
indicated, all the agreements and instruments herein defined shall mean such agreements or instruments as the same may from time to time be supplemented or amended or the terms thereof waived or modified to the extent permitted by, and in accordance
with, the terms hereof and thereof. 
 SECTION 13.13. Headings and Table of Contents. The division of this Trust
Agreement into articles and sections, the provision of a table of contents and the insertion of headings are for the convenience of reference only and shall not affect the construction or interpretation of this Trust Agreement. 

SECTION 13.14. No Revocation. (a) No transfer, by operation of law or otherwise, of any right, title and interest of any
Certificateholder in and to the Trust Estate terminates this Trust Agreement or the trusts created hereunder or entitles any successor or transferee to an accounting or to the transfer to it of legal title to any part of the Trust Estate. 

(b) Any obligation of the Trustees hereunder, or under any other Operative Document may be performed by the Trust Certificateholders and any
such performance shall not be construed as a revocation of the trusts created hereby. 
 SECTION 13.15. Counterpart Execution.
This Trust Agreement and any amendment or supplement to this Trust Agreement (subject, in all cases to Section 13.19 hereof) may be executed in any number of counterparts and by the different parties hereto and thereto on separate counterparts,
each of which, when so executed and delivered, shall be an original, but all such counterparts shall together constitute but one and the same instrument. Fully executed sets of counterparts shall be delivered to, and retained by, the parties hereto.

 SECTION 13.16. Bankruptcy of Trust Certificateholders or Trustee. The bankruptcy, insolvency or similar
incapacity of any Certificateholder or Trustee, shall not (i) operate to terminate this Trust Agreement, (ii) entitle any Certificateholder’s legal representatives to claim an accounting or to take any action in any court for a partition or
winding up of the Trust Estate, or (iii) otherwise affect the rights, obligations and liabilities of the parties hereto. 
 SECTION
13.17. Certain Additional Covenants of the Trust Certificateholders. Until the Trust Estate shall have been terminated in accordance with Article XI, the Trust Certificateholders covenant and agree that:  

(a) They shall not act in the name of the Trust Estate in the conduct of their permitted activities; 

 
 Trust Agreement 

  
 39 

 (b) As to dealings with or with respect to the Trust Estate, they shall at all times hold
themselves out to the public (including any creditors of the Trust Estate, U.S. Bank Trust National Association or the Trust Certificateholders) as an entity separate and distinct from the Trust Estate; 

(c) They shall conduct their business so as not to mislead others as to the separate identities of the Trust Certificateholders and the Trust
Estate; 
 (d) They shall maintain their telephone numbers, stationery and other business forms separately from those of the Trust Estate;
and 
 (e) They shall maintain their records and books of account separate from the Trust Estate and maintain financial statements separate
from those of the Trust. 
 SECTION 13.18. Name. The name of the trusts created hereby is “SRC Facilities Statutory Trust
No. 2003-A” (the Trust) and such trusts may be referred to by such name. 
 SECTION 13.19. Restrictions on Further
Amendments. Notwithstanding anything to the contrary in this Trust Agreement, including under Section 11.6 or 11.7, so long as the PPPFA remains in effect, neither the Owner Trustee nor any or all of the Trust Certificateholders may enter into,
execute or deliver an amendment or supplement to this Trust Agreement which adds, eliminates, modifies, supplements or changes all or any part of the provisions of this Trust Agreement, without the prior express written consent of the Pension
Benefit Guaranty Corporation (the “PBGC”) in accordance with that certain Pension Plan Protection and Forbearance Agreement, dated              2016 (the
“PPPFA”), by and among the Sears Parties (as defined therein) and the PBGC; provided, however, that PBGC may only withhold such consent for proposed additions, eliminations, modifications, or changes that would be materially adverse
to the interests of PBGC. 
 SECTION 13.20. Certificateholder. The Owner Participant hereby certifies that it is the sole
holder of the Certificates. 
 SECTION 13.21. PPPFA. Notwithstanding any provision of this Trust Agreement to the contrary,
the Trust may consummate the transactions contemplated by the PPPFA or any of the other Transaction Documents (as defined in the PPPFA). 
  

Trust Agreement 

  
 40 

 IN WITNESS WHEREOF, the parties hereto have each caused this Trust Agreement to be duly executed
by their respective officers thereunto duly authorized as of the date first above set forth. 
  

			
	SRC O.P. CORPORATION, Owner Participant and Initial Beneficiary
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	 Scott E. Huckins

	Title:	 	 Vice President

	
	U.S. BANK TRUST NATIONAL ASSOCIATION, Owner Trustee and UTI Trustee
		
	By:	 	  

	Name:	 	Melissa A. Rosal
	Title:	 	Vice President

  
 Trust Agreement

 IN WITNESS WHEREOF, the parties hereto have each caused this Trust Agreement to be duly executed
by their respective officers thereunto duly authorized as of the date first above set forth. 
  

			
	SRC O.P. CORPORATION, Owner Participant and Initial Beneficiary
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	 U.S. BANK TRUST NATIONAL ASSOCIATION,

Owner Trustee and UTI Trustee

		
	By:	 	 /s/ Melissa A. Rosal

	Name:	 	Melissa A. Rosal
	Title:	 	Vice President

  
 Trust Agreement

 JOINDER TO 

TRUST AGREEMENT AND
 ALL
SUBI SUPPLEMENTS 
 Each of the undersigned, in consideration of the transactions contemplated by the foregoing Supplement and the
Operative Documents, hereby covenants and agrees with the Trust and each other that, prior to the date which is one year and one day after the termination of each and every Series of the Trust, it will not institute against, or join any other Person
in instituting against, the Trust, the Undivided Trust Interest, the UTI Assets or any SUBI, SUBI Portfolio or SUBI Assets, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceedings under the
laws of the United States or any state of the United States. 
 This Joinder may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which, when executed and delivered, shall be an original, but all such counterparts shall constitute but one and the same instrument. 

 

									
	Dated as of November     , 2003	 		 		 	
			
	LESSEE:	 		 	INITIAL LENDER:
			
	SEARS, ROEBUCK AND CO.	 		 	SRC DEPOSITOR CORPORATION
					
	By:	 	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

			
	OWNER PARTICIPANT:	 		 	SECURITY TRUSTEE:
			
	SRC O.P. CORPORATION	 		 	WELLS FARGO BANK MINNESOTA, N.A.
					
	By:	 	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	Jack A. Aini
	Title:	 	  
	 		 	Title:	 	Vice President

  
 Joinder to Trust
Agreement 

 JOINDER TO 

TRUST AGREEMENT AND
 ALL
SUBI SUPPLEMENTS 
 Each of the undersigned, in consideration of the transactions contemplated by the foregoing Supplement and the
Operative Documents, hereby covenants and agrees with the Trust and each other that, prior to the date which is one year and One day after the termination of each and every Series of the Trust, it will not institute against, or join any other
Person in instituting against, the Trust, the Undivided Trust Interest, the UTI Assets or any SUBI, SUBI Portfolio or SUBI Assets, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceedings under
the laws of the United States or any state of the United States. 
 This Joinder may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which, when executed and delivered, shall be an original, but all such counterparts shall constitute but one and the same instrument. 

 

									
	Dated as of November      2003	 		 		 	
			
	LESSEE:	 		 	INITIAL LENDER:
			
	SEARS, ROEBUCK AND CO.	 		 	SRC DEPOSITOR CORPORATION
					
	By:	 	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

			
	OWNER PARTICIPANT:	 		 	SECURITY TRUSTEE:
			
	SRC O.P. CORPORATION	 		 	WELLS FARGO BANK MINNESOTA, N.A.
					
	By:	 	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	Jack A. Aini
	Title:	 	  
	 		 	Title:	 	Vice President

  
 Joinder to Trust
Agreement 

 EXHIBIT A 

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT 

OF 1933, AS AMENDED (THE “ACT”). ANY RESALE OR TRANSFER OF THIS 

CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT MAY BE 

MADE ONLY IN A TRANSACTION EXEMPT FROM THE REGISTRATION 

REQUIREMENTS OF THE ACT IN ACCORDANCE WITH THE PROVISIONS OF 

THE TRUST AGREEMENT REFERRED TO HEREIN. 

FORM OF 
 SRC FACILITIES
STATUTORY TRUST NO. 2003-A
 UNDIVIDED TRUST INTEREST CERTIFICATE 

evidencing an exclusive undivided beneficial interest in all Trust Assets (as defined below) other than SUBI Assets (as defined below). 

(This Certificate does not represent an obligation of, or an interest in, U.S. Bank Trust National Association, SRC O.P. CORPORATION or any of
their respective Affiliates.) 
 Certificate Number UTI-[            ] 

THIS CERTIFIES THAT SRC O.P. CORPORATION is the registered owner of a nonassessable, fully-paid, exclusive undivided beneficial interest in
the Trust Assets, other than SUBI Assets (such interest, an Undivided Trust Interest), of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust (the Trust), formed pursuant to a Trust Agreement dated and
effective as of October 28, 2003 (as amended, supplemented or otherwise modified from time to time, the Agreement), between SRC O.P. CORPORATION, as settlor and initial beneficiary (the Initial Beneficiary) and
U.S. Bank Trust National Association, as Owner Trustee and trustee of the UTI (together with any successor or permitted assign, the UTI Trustee). A summary of certain of the pertinent portions of the Agreement is set forth below. To the
extent not otherwise defined herein, the capitalized terms herein have the meanings set forth in the Agreement. 
 This Certificate is one
of the duly authorized certificates issued under the Agreement and designated as SRC Facilities Statutory Trust No. 2003-A Undivided Trust Interest Certificates (the Undivided Trust Interest Certificates). This Undivided Trust Interest
Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the holder of this Undivided Trust Interest Certificate, by virtue of the acceptance hereof, assents and by which such holder is
bound. From time to time, a SUBI Supplement may be entered into, representing a separate SUBI Portfolio, and pursuant to such SUBI Supplement, from time to time a series of Certificates, each designated as SRC Facilities Statutory Trust No. 2003-A
Special Unit of Beneficial Interest Certificates Series No. 2003A-[            ]” (the SUBI Certificates) may be delivered. The SUBI Certificates, together with the Undivided
Trust Interest Certificates, are referred to as the Certificates. Each SUBI Supplement, whether or not evidenced by a Series of SUBI Certificates, will evidence an exclusive undivided interest in a separate SUBI Portfolio. 

 
 Trust Certificate 

  
 1 

 The rights of the holder of this Certificate to the Trust Assets and the proceeds thereof are and
will be set forth in the Agreement. 
 The Certificates do not represent an obligation of, or an interest in, the Initial Beneficiary, U.S.
Bank Trust National Association, any other Trustee, any other beneficiary or any of their respective Affiliates. The Undivided Trust Interest Certificates are limited in right of payment to certain collections and recoveries respecting the Sites not
allocated to any SUBI Portfolio, all to the extent and as more specifically set forth in the Agreement. A copy of the Agreement may be examined during normal business hours at the principal office of the UTI Trustee, and at such other places, if
any, designated by the UTI Trustee, by the holder hereof upon request. 
 By accepting this Certificate and in consideration of the
transactions contemplated by the Trust Agreement, the holder hereof hereby covenants and agrees that, prior to the date which is one year and one day after the termination of each and every Series of the Trust, it will not institute against, or join
any other Person in instituting against, the Trust, the Undivided Trust Interest, the UTI Assets or any SUBI, SUBI Portfolio or SUBI Assets, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar
proceedings under the laws of the United States or any state of the United States. 
 By accepting this Certificate, the holder hereof
waives any claim to any proceeds or assets of the Trustees and to all of the Trust Assets from time to time included within each SUBI Portfolio as SUBI Assets and those proceeds or assets derived from or earned by such SUBI Assets. 

The Agreement permits the amendment thereof and the modification of the rights and obligations of the parties thereto and the rights of Trust
Certificateholders at any time by the UTI Trustee or the applicable SUBI Trustee and the affected Trust Certificateholders, provided that any such amendment shall require such additional approvals as may be required by each financing to which the
Trust is a party. 
 As provided in the Agreement, any transfer or assignment of this Certificate and the underlying interests represented
hereby is registrable upon surrender of this Certificate for registration of transfer with the UTI Trustee (or the Trust Agent, if applicable) or by any successor Trustee, accompanied by a written instrument of transfer in form satisfactory to the
UTI Trustee duly executed by the holder hereof or such holder’s attorney duly authorized in writing, and thereupon one or more new Undivided Trust Interest Certificates of a like aggregate fractional undivided interest will be issued to the
designated transferee satisfying the requirements of Article X of the Trust Agreement. 
 Prior to due presentation of this Certificate for
registration of transfer, the Trustees, and each agent of a Trustee may treat the Person or entity in whose name this Certificate is registered as the owner hereof for all purposes, and, except as provided for in the Agreement, neither the Trustees
nor any such agent shall be affected by any notice to the contrary. 
  

Trust Certificate 

  
 2 

 The obligations and responsibilities created by the Agreement and the Trust created thereby shall
terminate as specified therein. 
 Unless this Certificate shall have a certificate of authentication attached, executed by the UTI Trustee
or an agent thereof by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Agreement or be valid for any purpose. 

IN WITNESS WHEREOF, the UTI Trustee, on behalf of the Trust and not in its individual capacity, has caused this Undivided Trust Interest
Certificate to be duly executed. 
  

											
	Dated:	 	  
	 		 	
				
		 		 		 	SRC FACILITIES STATUTORY TRUST NO. 2003-A
					
		 		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as UTI Trustee
						
		 		 		 		 	By:	 	  

		 		 		 		 		 	Authorized Officer

	
	
	
	
	
	
	
	
	

  
 Trust Certificate 

  
 3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is the UTI Certificate referred to in the within-mentioned Trust Agreement. 

 

							
		 	U.S. Bank Trust National Association,
		 	not in its individual capacity, but solely
		 	as UTI Trustee
			
	By:	 	  
	 	
		 	Authorized Officer	 	

  
 Trust Certificate 

  
 4 

 SCHEDULE A 

WIRE INSTRUCTIONS 
 All payments
on account of the Owner Participant of the UTI shall be made by wire transfer of immediately available funds to: 
 [**]

 In addition, a confirmation of each payment shall be sent concurrently to the address of Owner Participant stated in Section 19 of the Participation
Agreement. 

  
 Trust Agreement

 SCHEDULE B 

STANDARD SUBI TERMS 
 This
Supplement to Trust Agreement (this “Supplement”), dated as of , 2003 is among SRC O.P. CORPORATION, as owner participant agent for the UTI assets, a Delaware corporation (the “Owner Participant” and
“Initial Beneficiary”), SRC O.P. CORPORATION, a Delaware corporation (the “Initial SUBI Beneficiary” or the “SUBI Owner Participant”), and U.S. Bank Trust National Association, a Delaware banking
corporation (acting hereunder in its individual capacity as expressly set forth herein and otherwise not in its individual capacity but solely as trustee hereunder, the “SUBI Trustee” or “SUBI Portfolio Trustee” and
the “UTI Trustee”). 
 WITNESSETH 

WHEREAS, SRC O.P. CORPORATION and the UTI Trustee (in its capacity as UTI Trustee and Owner Trustee) are parties to that certain Trust
Agreement dated as of              , 2003, (as amended, supplemented or otherwise modified from time to time, the “Trust Agreement”) with respect to the SRC FACILITIES
STATUTORY TRUST NO. 2003-A (the “Trust”); 
 WHEREAS, the Owner Participant, the UTI Trustee and the Initial SUBI
Beneficiary desire to create a SUBI Portfolio pursuant to Section 4.2 of the Trust Agreement; 
 NOW, THEREFORE, in consideration of the
premises and of other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows: 
 1.
Creation of SUBI Portfolio. SUBI Portfolio of the Trust (“SUBI Portfolio”) is hereby created. SUBI Portfolio shall be governed by the Trust Agreement, as modified by this Supplement. Notwithstanding anything to the contrary
in the Trust Agreement or Definitions Appendix referred to therein, the defined terms set forth in the applicable SUBI Supplement shall have the meanings specified therein when used in this Supplement or in the Trust Agreement with reference to SUBI
Portfolio, including references to the rights of the Lessee with respect to SUBI Portfolio. 
 2. SUBI Assets. From and after the
Closing Date, the Trust Assets listed on Schedule 1 attached hereto shall be SUBI Assets of SUBI Portfolio. Additional SUBI Assets may be added to SUBI Portfolio only as provided in the Operative Documents. Effective as of the date hereof,
the parties hereto confirm that the UTI Portfolio shall not include the SUBI Assets of SUBI Portfolio. 
 3. SUBI Certificate. The
Special Unit of Beneficial Interest in SUBI Portfolio shall initially be uncertificated. At any time, and from time to time, the holder of the beneficial interest in the SUBI Portfolio shall have the right to receive from the SUBI Portfolio a SUBI

  
 Trust Agreement - 

SUBI Terms 

  
 1 

 
Certificate evidencing its undivided beneficial interest in the SUBI Portfolio; provided, however, that, at any time and from time to time, there shall only be one Trust
Certificateholder of such SUBI Portfolio, whether certificated or uncertificated. If the holder of the beneficial interest in the SUBI Portfolio elects to receive a SUBI Certificate, the SUBI Portfolio Trustee shall execute, deliver and file all
forms as may, from time to time, be required under the Applicable Law of the state where the Trust Assets listed on Schedule 1 are located. All expenses incurred in connection with the issuance of the SUBI Certificate shall be the sole
responsibility of the holder of the beneficial interest in the SUBI Portfolio. Except as set forth in any amendment to this Supplement, the SUBI Certificate shall be in substantially the form of Exhibit A attached hereto, with such
appropriate insertions, omissions, substitutions and other variations as are required by the Trust Agreement or this Supplement, and may have such letters, numbers or other marks of identification and such legends and endorsements placed thereon as
may, consistently herewith, be approved by the Initial SUBI Beneficiary. Any portion of any SUBI Certificate may be set forth on the reverse or subsequent pages thereof. Each SUBI Certificate shall be printed, lithographed, typewritten,
mimeographed, photocopied or otherwise produced or may be produced in any other manner as may, consistently herewith, be determined by the Initial SUBI Beneficiary. 

4. SUBI Trustee. The Initial SUBI Beneficiary hereby appoints U.S. Bank Trust National Association as the SUBI Trustee for SUBI
Portfolio (the “SUBI Portfolio Trustee” or “SUBI Trustee” with respect to the Trust Agreement). U.S. Bank Trust National Association, by its execution of this Supplement, hereby accepts such appointment. 

5. Authorization to Execute and Perform Certain Documents. The SUBI Owner Participant hereby authorizes and directs the SUBI Portfolio
Trustee and the Trust, as the case may be, and, as applicable, the SUBI Portfolio Trustee hereby agrees for the benefit of the SUBI Owner Participant, (i) to execute and deliver the Participation Agreement and the Master Lease in the forms approved
by the SUBI Owner Participant (such approval to be evidenced by the SUBI Owner Participant’s execution and delivery of the Participation Agreement), (ii) to execute and deliver the Site Lease, such Site Lease to be substantially in the form
attached to the Master Lease with all schedules, appendices and exhibits attached and all blanks filled in, (iii) to execute and deliver the Loan Agreement, the applicable Mortgage Note and the Mortgage in the forms approved by the SUBI Owner
Participant, (iv) to execute and deliver all other Operative Documents to which the Trust, acting only with respect to SUBI Portfolio, is a party and all other agreements, instruments and certificates contemplated by the Operative Documents in the
forms approved by the SUBI Owner Participant, (v) to take whatever action shall be required to be taken by the SUBI Portfolio Trustee by the terms of, and exercise its rights and perform its duties under, each of the documents, agreements,
instruments and certificates referred to in clauses (i)-(iv) above as set forth in such documents, agreements, instruments and certificates and (vi) subject to the terms of the Trust Agreement and this Supplement to take such other action in
connection with the foregoing as the SUBI Owner Participant may from time to time direct. The SUBI Portfolio Trustee is authorized to act on behalf of the Trust with respect to SUBI Portfolio in connection with the Operative Documents and the
transactions contemplated thereby. 
  
 Trust Agreement - 

SUBI Terms 

  
 2 

 This Section 5 shall supplement Section 1.2 of the Trust Agreement for any action to be
taken with respect to SUBI Portfolio on or after the date hereof. 
 6. General Authorization and Agreement. The SUBI Owner
Participant hereby authorizes and directs the SUBI Portfolio Trustee, subject to the fulfillment or waiver by the SUBI Owner Participant of the applicable conditions set forth in the Participation Agreement, to execute and deliver the agreements,
documents, instruments and certificates and perform all such other acts (i) which the SUBI Portfolio Trustee shall be obligated to execute, deliver or perform with respect to SUBI Portfolio on the Closing Date pursuant to the Operative Documents or
(ii) subject to the terms of the Trust Agreement and this Supplement and in accordance with written instructions from the SUBI Owner Participant, which are in the opinion of the SUBI Owner Participant necessary or advisable in connection with the
transactions contemplated by the Operative Documents and consistent therewith, or (iii) as otherwise directed by the SUBI Owner Participant. The SUBI Portfolio Trustee hereby agrees, for the benefit of the SUBI Owner Participant, to take and perform
each of the foregoing actions. The Trust, SUBI Portfolio and the SUBI Portfolio Trustee shall further have such powers as are necessary and appropriate to the conduct of their duties as set forth in the Trust Agreement, this Supplement and the
Operative Documents. 
 This Section 6 shall supplement Section 1.3 of the Trust Agreement for any action to be taken with respect to
SUBI Portfolio on or after the date hereof. 
 7. Declaration of Trust. The SUBI Portfolio Trustee hereby declares that it will hold
all of the estate, right, title and interest of the SUBI Portfolio Trustee in and to the SUBI Trust Estate upon the trusts set forth in the Trust Agreement and in this Supplement for the use and benefit of the SUBI Owner Participant. 

The term “SUBI Trust Estate” shall mean all the estate, right, title and interest of the SUBI Portfolio Trustee or the Trust
in and to (i) the Sites and all replacements thereof and substitutions therefor; (ii) Operative Documents to which the SUBI Portfolio Trustee or the Trust, from time to time, is or is to become a party with respect to SUBI Portfolio, (iii) all
money, other documents and other property acquired, held by or payable to the SUBI Portfolio Trustee or the Trust with respect to SUBI Portfolio under any of the Operative Documents to which the SUBI Portfolio Trustee or the Trust, from time to
time, is or is to become a party, or otherwise, including, without limitation, (1) all amounts of Basic Rent and Supplemental Amounts payable under the Master Lease with respect to the Sites or any part thereof, (2) all insurance proceeds payable at
any time for or with respect to the Sites or any part thereof, and (3) all condemnation, requisition, liquidated damages, warranty or other payments of any kind payable at any time for or with respect to the Sites or any part thereof or any other
disposition of the Sites or any part thereof after expiration or termination of the Master Lease; and (iv) all proceeds, rights and interests derived from (i), (ii) or (iii) above of whatever kind or nature. 

This Section 7 shall supplement Section 2.1 of the Trust Agreement with respect to SUBI Portfolio. 

 
 Trust Agreement - 

SUBI Terms 

  
 3 

 8. Indemnification; Payment of Fees, Costs and Expenses. (a) Each holder of a SUBI
Certificate shall, only with respect to SUBI Portfolio or the SUBI Portfolio Trustee, as the case may be, assume liability for, and shall indemnify, protect, save and keep harmless the SUBI Portfolio Trustee, in its individual capacity, and its
officers, directors, successors, assigns, legal representatives, agents and employees (each such Person being herein referred to as an “Indemnified Person”) from and against any and all liabilities, obligations, losses, damages,
penalties, taxes (other than any income taxes on fees or other compensation received by an Indemnified Person), claims, actions, suits, costs, expenses and disbursements (including, without limitation, legal fees and expenses, any liability of an
owner, any strict liability and any liability without fault) of any kind and nature whatsoever (hereinafter referred to as “Claims”) which may be imposed on, incurred by or asserted against any Indemnified Person (but only if and to
the extent the Indemnified Person is not indemnified for such claims by the Lessee or any other Person within a reasonable time after demand therefor), but only to the extent regarding SUBI Portfolio (but not any other Portfolio nor the UTI
Portfolio) or the SUBI Portfolio Trustee, as the case may be, in any way relating to or arising out of the Trust Agreement and this Supplement, the SUBI Series created hereby, the Operative Documents, or the performance or enforcement of any of the
terms hereof or thereof, or in any way relating to or arising out of the manufacture, purchase, acceptance, rejection, ownership, delivery, lease, sublease, possession, use, repair, preservation, alteration, operation, maintenance, condition,
registration, sale, return, storage or other disposition of, or additions to, the Sites or any part thereof or interest therein (including, without limitation, latent and other defects, whether or not discoverable, and any claim for patent,
trademark or copyright infringement) but only to the extent regarding SUBI Portfolio (but not any other Portfolio nor the UTI Portfolio) or the SUBI Portfolio Trustee, as the case may be, or in any way relating to or arising out of the
administration of the SUBI Series created hereby and the SUBI Trust Estate or the action or inaction of any Indemnified Person hereunder, but in all cases only to the extent regarding SUBI Portfolio (but not any other Portfolio nor the UTI
Portfolio) or the SUBI Portfolio Trustee, as the case may be; provided that the holders of a SUBI Certificate shall not be required to indemnify any Indemnified Person for any claims (i) resulting from acts which would constitute the willful
misconduct or gross negligence of such Indemnified Person, but any affirmative action taken or omission made by the SUBI Portfolio Trustee pursuant to directions given to such Trustee by the holder of a SUBI Portfolio Certificate or with respect to
any other Series by the holders of the Certificates of the applicable Series, as the case may be, shall not constitute willful misconduct or gross negligence, or (ii) arising or resulting from items excluded from indemnification by the Lessee
pursuant to the provisions of Section 10 or 11 of the Participation Agreement, except Section 11(c)(i), (v) and (vii) (to the extent approved or joined in by the holder of the SUBI Certificate or any predecessor-in-interest) thereof, which shall not
apply as exceptions to the indemnity provided hereunder; and provided further, that the holder of a SUBI Certificate shall not be required to indemnify any Trustee with respect to claims resulting from (i) any representation or warranty of any
Trustee made expressly in its individual capacity and contained in any Operative Document proving to be untrue or inaccurate or (ii) any matter for which such Trustee is personally liable pursuant to Section 7.1 of the Trust Agreement. The
indemnities contained in this Section 8(a) shall survive the termination of the Trust Agreement and this Supplement and extend to the SUBI Portfolio Trustee in its individual capacity and shall not be construed as an indemnity of the 

 
 Trust Agreement - 

SUBI Terms 

  
 4 

 
SUBI Trust Estate. In the event any claim with respect to any liabilities is filed against the Owner Trustee, the SUBI Portfolio Trustee, SUBI Portfolio or any of the SUBI Assets, the Owner
Trustee or the SUBI Portfolio Trustee shall promptly notify each holder of a SUBI Portfolio Certificate and the Lessee thereof. 
 (b) The
SUBI Portfolio Trustee shall be entitled to receive compensation for its services in connection with SUBI Portfolio as agreed to in a separate fee agreement between the SUBI Portfolio Trustee and the Initial SUBI Beneficiary, and shall be entitled
to prompt reimbursement for all reasonable expenses incurred or payments made by it in connection with SUBI Portfolio pursuant to any provisions of this Supplement, the Trust Agreement or any other Operative Document (including the reasonable
compensation and the expenses of its counsel, accountants or other skilled Persons and of all other Persons not regularly in its employ performing services hereunder). The aforesaid obligations shall constitute indebtedness hereunder and the SUBI
Portfolio Trustee is hereby granted, and said obligations shall be secured by, a lien on the SUBI Trust Estate; provided that the SUBI Portfolio Trustee hereby acknowledges that the Lessee shall first be required to pay such fees of the SUBI
Portfolio Trustee comprising the compensation and reimbursement of expenses to which the SUBI Portfolio Trustee is entitled under this Section 8(b); and provided further, that the holder of a SUBI Certificate shall be liable to the SUBI
Portfolio Trustee for the aforesaid compensation and reimbursement of expenses only to the extent such compensation and reimbursement of expenses shall not be otherwise paid or reimbursed by the Lessee and only with respect to the SUBI Portfolio.
The SUBI Portfolio Trustee agrees that it shall have no right or claim against the holder of a SUBI Portfolio Certificate for any such compensation or reimbursement, except as provided in the preceding sentence. 

This Section 8 shall replace Sections 5.2 and 5.3 of the Trust Agreement with respect to SUBI Portfolio. 

9. Distribution of Payments. Payments to the Security Trustee. (a) Until the Lien of the Mortgage shall have been discharged
pursuant to the terms thereof, all Basic Rent, Supplemental Amounts, insurance proceeds and requisition or other payments of any kind included in the SUBI Trust Estate (other than Excepted Payments and other than payments received from the Indenture
Trustee under the Indenture) payable to the Trust with respect to SUBI Portfolio or the SUBI Portfolio Trustee shall be payable directly to the Security Trustee (and if any of the same are received by the Trust or the SUBI Portfolio Trustee shall
upon receipt be paid over to the Security Trustee without deduction, set-off or adjustment of any kind) for distribution in accordance with the provisions of the Loan Documents; provided, however, that any payments received by the SUBI Portfolio
Trustee with respect to the SUBI Portfolio Trustee’s fees and disbursements shall not be paid over to the Security Trustee but shall be retained by the SUBI Portfolio Trustee and applied toward the purpose for which such payments were made.
Subject to the foregoing and to the other terms and requirements of the Operative Documents, all payments and amounts received by the Trust with respect to SUBI Portfolio or the SUBI Portfolio Trustee shall be distributed forthwith upon receipt in
the following order of priority: first, so much of such payment or amount as shall be required to pay or reimburse the 
  

Trust Agreement - 
 SUBI
Terms 

  
 5 

 
SUBI Portfolio Trustee for any fees or expenses not otherwise paid or reimbursed to the SUBI Portfolio Trustee as to which the SUBI Portfolio Trustee is entitled to be paid or reimbursed
hereunder shall be retained by the SUBI Portfolio Trustee; and, second, the balance, if any, of such payment or amount remaining thereafter shall be distributed to or as directed by the holder of SUBI Certificate. 

(b) Excepted Payments. Any Excepted Payments received by the Trust with respect to SUBI Portfolio or the SUBI Portfolio Trustee shall
be paid by the SUBI Portfolio Trustee to the Person to whom such Excepted Payments are payable under the provisions of the Participation Agreement, the Tax Indemnity Agreement or the Master Lease. 

(c) Timing of Payments. All payments and amounts received by or on behalf of the Trust with respect to SUBI Portfolio or the SUBI
Portfolio Trustee shall be distributed by 2:00 p.m. (central time) if received by 11:00 a.m. (central time), or by 11:00 a.m. (central time) on the next business day if received after 11:00 a.m. (central time) and not distributed on such day.
Notwithstanding anything to the contrary herein contained, however, it is understood and agreed that the SUBI Portfolio Trustee shall not be obligated to make any distribution until the funds for such distribution have been received by the Trust
with respect to SUBI Portfolio or the SUBI Portfolio Trustee in cash or other immediately available funds. 
 This Section 9 shall
replace Sections 6.2 and 6.3 of the Trust Agreement with respect to SUBI Portfolio, provided, however, that this Section 9 shall not apply to amounts received with respect to any period prior to the Closing Date. 

10. Payment Instructions. All amounts payable to the holder(s) of the SUBI Certificate pursuant to the Trust Agreement or this
Supplement shall be paid by the SUBI Portfolio Trustee by transferring such amounts in immediately available funds to the account(s) that such holder(s) from time to time designates in writing, the first such designation being contained in
Schedule 2 attached hereto. 
 This Section 10 shall replace Section 6.4(a) of the Trust Agreement with respect to SUBI
Portfolio. 
 11. Funds Received. All amounts paid or payable by the Trust on behalf of a SUBI Portfolio shall be paid in accordance
with Section 13.2 of the Trust Agreement. 
 12. Notice of Certain Events. Section 6.5 of the Trust Agreement is hereby amended with
respect to SUBI Portfolio to insert the phrase “ or Loan Event of Default” after the phrase “Lease Event of Default” and before the phrase “or Event of Loss” in the three places such phrases appear in Section 6.5. 

13. Notices. All communications, demands, notices and consents provided for herein shall be given in writing (either by certified or
registered mail with return receipt requested, by reputable overnight courier, by personal delivery or by telecopier), addressed: (i) if to the SUBI Owner Participant, at do Sears Legal Department,
6th Floor, 3333 Beverly Road, 
  

Trust Agreement - 
 SUBI
Terms 

  
 6 

 
Hoffman Estates, Illinois 60176, Attention: Steven Cook (telecopier number (312) 286-6059; (ii) if to the SUBI Portfolio Trustee, at 400 N. Michigan Avenue, 2nd Floor, Chicago, Illinois 60176, Attention: Trust Administration (telecopier number (312) 836-6701); (iii) if to the Lessee, at c/o Sears Legal Department 6th Floor, 3333 Beverly Road, Hoffman Estates, Illinois 60176, Attention: Steven Cook (telecopier number (312) 286-6059); and (iv) if to the Owner Participant, at c/o Sears Legal Department, 6th Floor, 3333 Beverly Road, Hoffman Estates, Illinois 60176, Attention: Steven Cook (telecopier number (312) 286-6059; or at such other address as any party hereto may from time to time designate by
notice duly given in accordance with the provisions of this Section 13 to the other parties hereto. Notices under this Section 13 shall be deemed given only when received. 

14. Entire Agreement. This Supplement, together with the Trust Agreement, embodies the entire agreement and understandings among the
Owner Participant, the SUBI Owner Participant and the UTI Trustee with respect to SUBI Portfolio. The Trust Agreement, as supplemented by this Supplement, remains in full force and effect. 

15. Counterpart Execution. This Supplement may be executed in any number of counterparts and by the different parties hereto on
separate counterparts, each of which, when so executed and delivered, shall be an original, but all such counterparts shall together constitute but one and the same instrument. Fully executed sets of counterparts shall be delivered to, and retained
by, the parties hereto. 
 16. Limitation of Liability. The provisions of Section 3 of the Certificate of Trust of SRC Facilities
Statutory Trust No. 2003-A, are incorporated by reference herein with the same force and effect as if restated in their entirety mutatis mutandis. 

17. GOVERNING LAW. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE. 

18. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO TRIAL BY JURY IN
ANY LEGAL OR EQUITABLE ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENT OR ANY OF THE OTHER OPERATIVE DOCUMENTS OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY OR THE SUBJECT MATTER OF ANY OF THE FOREGOING.  

 
 Trust Agreement - 

SUBI Terms 

  
 7 

 EXHIBIT A 

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT 

OF 1933, AS AMENDED (THE “ACT”). ANY RESALE OR TRANSFER OF THIS 

CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT MAY BE 

MADE ONLY IN A TRANSACTION EXEMPT FROM THE REGISTRATION 

REQUIREMENTS OF THE ACT IN ACCORDANCE WITH THE PROVISIONS OF 

THE TRUST AGREEMENT REFERRED TO HEREIN. 

FORM OF SUBI CERTIFICATE 

SRC FACILITIES STATUTORY TRUST NO. 2003-A 

SPECIAL UNIT OF BENEFICIAL INTEREST CERTIFICATES SERIES NO. 2003A-[            j

 evidencing an exclusive undivided beneficial interest in all SUBI Assets in 

the applicable SUBI Portfolio 

(This Certificate does not represent an obligation of, or an interest in, U.S. Bank Trust National 

Association, SRC O.P. CORPORATION or any of their respective Affiliates.) 

Certificate Number SUBI No. R-[            ] 

THIS CERTIFIES THAT [        ]is the registered owner of a nonassessable, fully-paid, exclusive
undivided beneficial interest in the SUBI Assets in SUBI Portfolio (such interest, a “Special Unit of Beneficial Interest” or “SUBI”) of SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust (the
“Trust”) formed pursuant to a Trust Agreement dated as of October 28, 2003, (as amended, supplemented or otherwise modified from time to time, the “Agreement”), between SRC O.P. CORPORATION, as owner participant
agent, as settlor and initial beneficiary (the “Initial Beneficiary”), and U.S. BANK TRUST NATIONAL ASSOCIATION, as trustee of the Undivided Trust Interest (together with any successor or permitted assign, the “UTI
Trustee”) and as Owner Trustee (together with any successor or permitted assign, the “Owner Trustee”). The SUBI and SUBI Portfolio have been created by a supplement dated as of
[        ](as amended, supplemented or otherwise modified from time to time, “SUBI Supplement”) to the Agreement, among the Initial Beneficiary, U.S. Bank Trust National Association, as the
UTI Trustee and the SUBI Trustee, and SRC O.P. CORPORATION, as Initial SUBI Beneficiary. Pursuant to SUBI Supplement No. 2003A-            , together with any successor or permitted assign,
has been appointed the SUBI Trustee for SUBI Portfolio. A summary of certain of the pertinent portions of the Agreement is set forth below. To the extent not otherwise defined herein, the capitalized terms herein have the meanings set forth in the
Agreement. 
 This Certificate is one of the duly authorized certificates issued under the Agreement and designated as “SRC FACILITIES
STATUTORY TRUST NO. 2003-A Special Unit of Beneficial Interest Certificates” (the “SUBI Certificates”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which 

 
 Trust Agreement - 

SUBI Certificate 

  
 1 

 
Agreement the holder of this Certificate, by virtue of the acceptance hereof, assents and by which such holder is bound. Previously issued under the Agreement are an “SRC FACILITIES
STATUTORY TRUST NO. 2003-A Undivided Trust Interest Certificate” for the Initial Beneficiary (such certificate as replaced by any restatement thereof or any such certificates relating to the Undivided Trust Interest issued by the Trust in the
future, the “Undivided Trust Interest Certificates”), (the SUBI Certificates, and such other series of beneficial interest certificates heretofore and hereafter issued are the “SUBI Certificates” and, together with
the Undivided Trust Interest Certificates, are the “Certificates”). Each series of SUBI Certificates, taken together, will evidence an exclusive undivided interest in a separate SUBI Portfolio. 

The rights of the holder of this Certificate to the SUBI Assets in SUBI Portfolio and the proceeds thereof are and will be set forth in the
Agreement. 
 The Certificates do not represent an obligation of, or an interest in, the Initial Beneficiary, U.S. Bank Trust National
Association, any other Trustee, any other beneficiary or any of their respective Affiliates. The Undivided Trust Interest Certificates are limited in right of payment to certain collections and recoveries respecting the Sites not allocated to any
SUBI Portfolio and each SUBI Certificate is limited in right of payment to certain collections and recoveries respecting the Sites allocated to the SUBI Portfolio specified in such SUBI Certificate, all to the extent and as more specifically set
forth in the Agreement. A copy of the Agreement may be examined during normal business hours at the principal office of the SUBI Trustee or the Owner Trustee, and at such other places, if any, designated by the SUBI Trustee, by the holder hereof
upon request. 
 By accepting this Certificate, the holder hereof agrees to be bound by all provisions of the Agreement applicable to Trust
Certificateholders. 
 By accepting this Certificate and in consideration of the transactions contemplated by the Agreement, the holder
hereof hereby covenants and agrees that, prior to the date which is one year and one day after the termination of each and every Series of the Trust, it will not institute against, or join any other Person in instituting against, the Trust, the
Undivided Trust Interest, the UTI Assets or any SUBI, SUBI Portfolio or SUBI Assets, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceedings under the laws of the United States or any state of
the United States. 
 By accepting this Certificate, the holder hereof waives any claim to any proceeds or assets of the Trustees and to all
of the Trust Assets or UTI Assets or SUBI Assets (other than the SUBI Assets from time to time included within SUBI Portfolio) and those proceeds or assets derived from or earned by such Trust Assets, UTI Assets and other SUBI Assets. 

The Agreement permits the amendment thereof and the modification of the rights and obligations of the parties thereto and the rights of the
Trust Certificateholders at any time by the UTI Trustee or the applicable SUBI Trustee and the affected Trust Certificateholders, provided that any such amendment shall require such additional approvals as may be required by each financing to which
the Trust is party. 
  
 Trust Agreement - 

SUBI Certificate 

  
 2 

 As provided in the Agreement, any transfer or assignment of this Certificate and the underlying
interests represented hereby is registrable upon surrender of this Certificate for registration of transfer with the SUBI Trustee (or the Trust Agent, if applicable) or by any successor Trustee, accompanied by a written instrument of transfer in
form satisfactory to the SUBI Trustee duly executed by the holder hereof or such holder’s attorney duly authorized in writing, and thereupon one or more new SUBI Certificates of a like aggregate fractional undivided interest will be issued to
the designated permitted transferee. 
 Prior to due presentation of this Certificate for registration of transfer, the Trustees and each
agent of a Trustee may treat the Person or entity in whose name this Certificate is registered as the owner hereof for all purposes, and, except as provided for in the Agreement, neither the Trustees nor any such agent shall be affected by any
notice to the contrary. 
 The obligations and responsibilities created by the Agreement and the Trust created thereby shall terminate as
specified therein. 
 Unless this Certificate shall have a certificate of authentication attached, executed by the SUBI Trustee or an agent
thereof by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Agreement or be valid for any purpose. 

IN WITNESS WHEREOF, the SUBI Trustee, on behalf of the Trust and not in its individual capacity, has caused this SUBI Certificate with respect
to SUBI Portfolio to be duly executed. 
  

													
	Date:	 	  
	 		 	
		 		 		 	SRC FACILITIES STATUTORY TRUST NO. 2003-A
					
		 		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity, but solely as SUBI Trustee
							
		 		 		 		 		 	By:	 	  

		 		 		 		 		 	Name:	 	  

		 		 		 		 		 	Title:	 	  

  
 Trust Agreement - 

SUBI Certificate 

  
 3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is the SUBI Certificate referred to in the within-mentioned Trust Agreement 

and SUBI Supplement 
  

					
	U.S. BANK TRUST NATIONAL ASSOCIATION,
	 not in its individual capacity, but solely

as SUBI Trustee

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

  
 Trust Agreement - 

SUBI Certificate 

  
 4 

 SCHEDULE 1

SUBI ASSETS 
 With respect to each
of the properties listed on Schedule 1-A attached to the applicable SUBI Supplement, the Site shall consist of the following: 
 for
each parcel of land having a legal description attached to the applicable SUBI Supplement as Schedule 1-A either (1) fee title to the land described thereon, or (2) a leasehold interest pursuant to an Existing Ground Lease, as described in
the applicable Site Lease; and 
 a fee interest in all buildings, structures and other improvements on the land. 

Notwithstanding the foregoing, with respect to the Texas Sites, the applicable SUBI Portfolio will hold the 99.9% Limited Partnership interest and the 0.01%
membership interest in the General Partner. 

  
 Trust Agreement-

 SCHEDULE 2 

WIRE INSTRUCTIONS 
 All payments
on account of each SUBI Owner Participant shall be made by wire transfer of immediately available funds to: 
 [**] 

In addition, a confirmation of each payment shall be sent concurrently to the address of the SUBI Owner Participant stated in Section 17 of
the Participation Agreement. 
  
 SUBI Supplement for SUBI Portfolio

 No. 2003A-[            ] 

 SCHEDULE C 

FORM OF SUBI SUPPLEMENT 
 SUBI
SUPPLEMENT FOR SUBI PORTFOLIO NO. 2003A-1 1 
 This SUBI Supplement for the above-captioned SUBI Portfolio (the
“Supplement”), dated as of November 24, 2003, is among SRC O.P. CORPORATION, as owner participant for the UTI assets, a Delaware corporation (the “Owner Participant” and “Initial Beneficiary”), SRC
O.P. CORPORATION, a Delaware corporation (the “Initial SUBI Beneficiary” or the “SUBI Owner Participant”), and U.S. Bank Trust National Association, a national banking association (acting hereunder in its individual
capacity as expressly set forth herein and otherwise not in it individual capacity but solely as trustee hereunder, the “SUBI Trustee” or “SUBI Portfolio Trustee” and the “UTI Trustee”) 

WITNESSETH 
 WHEREAS, SRC O.P.
CORPORATION and the UTI Trustee (in its capacity as UTI Trustee and Owner Trustee) are parties to that certain Trust Agreement dated as of October 28, 2003 as amended by an Amended and Restated Trust Agreement dated as of the date hereof (as may be
further amended, supplemented or otherwise modified from time to time, the “Trust Agreement”) creating SRC Facilities Statutory Trust No. 2003-A; and 

WHEREAS, the Owner Participant , the UTI Trustee and the Initial SUBI Beneficiary desire to create a SUBI Portfolio pursuant to Section 4.2 of
the Trust Agreement; 
 NOW, THEREFORE, in consideration of the premises and of other good and valuable consideration, receipt of which is
hereby acknowledged, the parties hereto agree as follows: 
 1. Incorporation of Terms. For purposes of this Supplement, the Standard
SUBI Terms contained in Schedule B of the Trust Agreement (the “Standard Terms”) are hereby incorporated by reference. For purposes of this Supplement, the reference to Schedule 1-A in Schedule 1 of said Schedule B shall mean
Schedule 1-A, attached hereto. 
 2. Creation of SUBI Portfolio. All references to SUBI Portfolio, as used in the Standard
Terms, shall mean the SUBI Portfolio subject to this Supplement. 
 3. Definitions. All capitalized but undefined terms used herein
shall have the same respective meanings as in the Definitions Appendix (as defined in the Trust Agreement). 
 IN WITNESS WHEREOF, the
parties hereto have caused this Supplement to be duly executed by their respective officers thereunto duly authorized as of the date first above set forth. 
  

			
	SRC O.P. CORPORATION, as Owner Participant for the UTI assets
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  
 SUBI Supplement for SUBI
Portfolio 
 No. 2003A-[            ] 

 
			
	 SRC O.P. CORPORATION, as Initial SUBI

	 Beneficiary and SUBI Owner Participant

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 U.S. BANK TRUST NATIONAL

ASSOCIATION, in its individual capacity as

expressly set forth herein and otherwise not in its

individual capacity but solely as SUBI Portfolio

No. 2003A-         Trustee and the UTI Trustee

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  
 SUBI Supplement for SUBI
Portfolio 
 No. 2003A-[            ] 

			
	SUBI PORTFOLIO NO. 2003A-	 	  

 
			
	PROPERTY:	 	  

 SCHEDULE 1.-A TO SUBI SUPPLEMENT

COMMON ADDRESS AND LEGAL DESCRIPTION 
  

SUBI Supplement for SUBI Portfolio 

No. 2003A-[            ] 

 SCHEDULE D 

ALLOCATION OF CAPITALIZATION DEMAND NOTE (OP) AND DEMAND NOTE 

FROM SEARS TO THE TRUST 
 (Please
see attached) 
  
 SUBI Supplement for SUBI Portfolio 

No. 2003A-[            ] 

 EXECUTION VERSION 

AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT 

OF 
 SRC REAL ESTATE (TX),
LP 
 A Delaware Limited Partnership 

THIS AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT (this “Agreement”) is made and entered into as of the 18th day of
March, 2016, by SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company (“LLC” and/or “General Partner”), as general partner, and SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory
trust acting on behalf of the applicable SUBI Portfolio (the “Trust” and/or “Limited Partner”), as limited partner, to form a limited partnership under the laws of the State of Delaware for the purposes and upon the
terms and conditions hereinafter set forth. 
 ARTICLE I 

PURPOSES AND POWERS, PRINCIPAL OFFICE, REGISTERED OFFICE 

AND REGISTERED AGENT, PERIOD OF DURATION 

Section 1.1. Name. The name of the limited partnership is SRC REAL ESTATE (TX), LP (the
“Partnership”). 
 Section 1.2. Purposes and Powers. The Partnership is a single purpose
entity. The nature of the business and of the purposes to be conducted and promoted by the Partnership is to engage solely in the following activities: 

(a) acquiring, owning, operating, holding, selling, assigning, transferring, leasing, mortgaging, and pledging (and exercising and enforcing
all rights and powers conferred by or incidental to such ownership) the property or properties listed on Attachment A hereto, together with all related improvements (collectively, the “Property”), and engaging in all
activities that are incidental thereto, including without limitation, arranging financing secured by the Property; 
 (b) entering into a
Participation Agreement (herein, together with any amendments, supplements or other modifications thereof, the “Participation Agreement”) among U.S. Bank Trust National Association, SRC Facilities Statutory Trust No. 2003-A, Sears,
Roebuck and Co., SRC Depositor Corporation and the other parties thereto; 
 (c) consummating the transactions contemplated by the
Participation Agreement, including (without limitation) the execution, delivery and performance of the Operative Documents; 
 (d) to
maintain deposit, checking, investment and other accounts with financial institutions that are incidental to, or necessary or convenient for, the accomplishment of the Partnership’s purposes set forth in this Section 1.2; 

 (e) entering into such other agreements and instruments as may be contemplated by the terms and
provisions of the Operative Documents or necessary or desirable in connection with the consummation of the transactions contemplated thereby or the performance by the Partnership of its obligations thereunder; 

(f) entering into agreements with third parties regarding (i) the operations, maintenance, care, upkeep and management of the Property,
including entering into leases, subleases and related agreements, and (ii) the provision of services as may be required from time to time by the Partnership, including legal, investment, accounting, banking, data processing, administrative and
management services that are incidental to, or necessary or convenient for, the accomplishment of the Partnership’s purposes set forth in this Section 1.2; 

(g) holding the Capitalization Demand Note (LP); 

(h) lending money to Sears, Roebuck and Co. (“Sears”) in exchange for a Two Hundred Fifty-Six Million Six Hundred Sixty
Thousand Nine Hundred Thirty-Five and 48/100 Dollars ($256,660,935.48) unsecured demand note issued by Sears to the Partnership (the “Demand Note”); and 

(i) engaging in any and all activities permitted by, and exercising all of the powers and rights conferred upon limited partnerships by, the
Delaware Revised Uniform Limited Partnership Act, Delaware Code Annotated, Title 6, Section 17-101, et seq., as amended from time to time (the “Act”), that are necessary, convenient or incidental to accomplishing the
Partnership’s purpose as set forth in this Section 1.2. 
 Section 1.3. Indemnification. Any
indemnification by the Partnership to its Partners shall be fully subordinated to any obligations respecting the Trust or the Property, and any claim for indemnification against the Partnership shall not be paid to the extent that the
Partnership’s cash flow is insufficient to pay any such obligations as they become due and payable. 
 Section 1.4.
Limitation on Partnership’s Actions. Except as otherwise provided in the Operative Documents or as authorized in this Agreement, in order to preserve and ensure its separate and distinct identity, the Partnership shall
conduct its affairs in accordance with the following provisions: 
  

	 	a.	It shall establish and allocate fairly and reasonably any overhead for office space shared with any Affiliate. 

  

	 	b.	It shall maintain separate records, bank accounts, financial statements and books of account. 

  

	 	c.	It shall hold its assets in its own name and not commingle assets with those of any other Person. 

  

	 	d.	It shall conduct its own business in its own name, not identify itself as a division or part of any other Person and correct any known misunderstanding regarding its status as a separate entity (except as otherwise
required by Section 4.16 of this Agreement). 

  
 2 

	 	e.	It shall preserve its existence and observe organizational formalities as a limited partnership. 

  

	 	f.	It shall not form subsidiaries. 

  

	 	g.	It shall maintain financial statements separate from any other Person. 

  

	 	h.	It shall pay any of its liabilities out of its own funds, including salaries of any employees (if any), not funds of any other Person, and maintain adequate capital in light of its contemplated business operations.

  

	 	i.	It shall maintain an arm’s length relationship with any Affiliate and enter into transactions with Affiliates only on commercially reasonable terms. 

 

	 	j.	It shall not guarantee, assume or become obligated for the debts of any other Person, including any Affiliate or hold out its credit as being available to satisfy the obligations of others, except for, to the extent
constituting the debts or obligations of any other Person, the PBGC Claims (as defined in the PBGC Agreement (as defined below)). 

  

	 	k.	It shall use stationery, invoices and checks separate from any Affiliate. 

  

	 	l.	Other than pursuant to the Mortgage and any other Loan Documents or as expressly permitted by the PBGC Agreement, it shall not pledge its assets for the benefit of any Person (including any Affiliate), make any loans or
advances to any Person (other than pursuant to Section 1.2(h) of this Agreement), or acquire any obligations or securities of any Person. 

  

	 	m.	It shall hold itself out as an entity separate and distinct from any other Person (except as otherwise required by Section 4.16 of this Agreement). 

 

	 	n.	Except for, to the extent constituting indebtedness, the PBGC UBL Claims, it shall not incur indebtedness other than the Mortgage Loans relating to the Texas Sites and unsecured payables in excess of 2% of the aggregate
amount of the Mortgage Loans relating to the Texas Sites. 

 For purposes of this Agreement, “PBGC Agreement” means the
Pension Plan Protection and Forbearance Agreement, dated as of March 18, 2016, among Sears Holdings Corporation (“Holdings”), the Partnership, certain other subsidiaries of Holdings and the Pension Benefit Guaranty Corporation
(“PBGC”). 
 Section 1.5. Principal Office. The principal office of the
Partnership shall be located at c/o Sears Legal Department, Attention: Steven Cook, 6th Floor, 3333 Beverly Road, Hoffman Estates, Illinois 60176, or at such other location as the General Partner
may from time to time determine. 

  
 3 

 Section 1.6. Registered Agent; Registered Office. The
registered office of the Partnership in the State of Delaware as required by the Act shall be located at Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware, or at such other place or places as the General Partner
may from time to time determine. The registered agent for service of process on the Partnership in the State of Delaware shall be The Corporation Trust Company, whose address is Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle
County, Delaware, 19801. 
 Section 1.7. Period of Duration. The Partnership as herein constituted shall
have a perpetual duration, unless terminated pursuant to law or the provisions of this Agreement. The existence of the Partnership as a separate legal entity shall continue until the cancellation of the Certificate of Limited Partnership of the
Partnership as provided in the Act. 
 Section 1.8. Filing of Certificates. Howard L. Rosenberg, hereby
designated as an “authorized person” within the meaning of the Act, shall execute, deliver and file the Certificate of Limited Partnership of the Partnership with the Secretary of State of the State of Delaware. Upon the filing of the
Certificate of Limited Partnership of the Partnership, his powers as an “authorized person” shall cease and the General Partner shall thereafter be designated as an “authorized person” within the meaning of the Act, to execute,
deliver and file all certificates (and any amendments and/or restatements thereof) required or permitted by the Act to be filed in the Office of the Secretary of State and any other certificates (and any amendments and/or restatements thereof)
necessary for the Partnership to qualify to do business in a jurisdiction in which the Partnership may wish to conduct business. 

ARTICLE II 
 PARTNERS,
CAPITAL CONTRIBUTIONS, DIVISION OF PROFITS AND LOSSES 
 Section 2.1. Partners. LLC shall be, and
is, hereby admitted to the Partnership as the general partner of the Partnership. The Trust shall be, and is, hereby admitted to the Partnership as the initial limited partner of the Partnership. The General Partner shall not resign from the
Partnership prior to its dissolution and winding up. 
 Section 2.2. Capital Contributions. The Partners
have contributed all of the capital of the Partnership and may in the future contribute any additional capital deemed necessary by the General Partner for the operation of the Partnership. The provisions of this Agreement, including this Section
2.2 are intended solely to benefit the Partners and, to the fullest extent permitted by law, shall not be construed as conferring any benefit upon any creditor of the Partnership (and no such creditor of the Partnership shall be a third-party
beneficiary of this Agreement) and the General Partner and the Limited Partner shall not, except as provided by applicable law, have any duty or obligation to any creditor of the Partnership to make any contribution to the Partnership or to issue
any call for capital pursuant to this Agreement. 

  
 4 

 Section 2.3. Capital Accounts. A separate capital account (a
“Capital Account”) shall be established and maintained for each Partner, including any substituted or additional Partner, in accordance with the following provisions: 

2.3.1 Each Partner’s Capital Account shall be increased by: 

(a) the amount of all capital contributions (including the fair market value of any property contributed to the Partnership) made by such
Partner to the Partnership pursuant to Section 2.2; 
 (b) the amount of the Partnership’s gross income or gain allocated to
such Partner; and 
 (c) the amount of any Partnership liabilities assumed by such Partner (or taken subject to if property is distributed
to such Partner by the Partnership). 
 2.3.2 Each Partner’s Capital Account shall be decreased by: 

(a) the amount of any money or the fair market value of any property distributed by the Partnership to such Partner; 

(b) the amount of losses or deductions allocated to such Partner; and 

(c) the amount of any Partner liabilities assumed by the Partnership (or taken subject to, if property is contributed to the Partnership by
such Partner). 
 The foregoing provisions and the other provisions of this Agreement relating to or affecting the maintenance of Capital
Accounts are intended to comply with the requirements of Section 704(b) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder, and, to the extent not inconsistent with the provisions of this Agreement, shall be
interpreted and applied in a manner consistent with such Treasury Regulations. 
 Section 2.4.
Allocations. All items of the Partnership’s income, gain, loss, deduction or credit shall be allocated 99.9% to the Limited Partner and 0.01% to the General Partner. 

Section 2.5. Distributions. Distributions shall be made to the Partners at the times and in the aggregate
amounts determined by the General Partner, each such distribution to be made in accordance with the Partners’ respective ownership interests set forth in Section 2.4, above. Notwithstanding any provision to the contrary contained in this
Agreement, the Partnership shall not be required to make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Act. 

  
 5 

 ARTICLE III 

MANAGEMENT 

Section 3.1. General Partner.  

(a) The powers, business and affairs of the Partnership shall be managed by the General Partner. 

(b) Except as required by the Act, the Limited Partner shall not be liable for the debts, liabilities, contracts or other obligations of the
Partnership. The Limited Partner shall not be required, after making its initial capital contribution, to make any further capital contributions to the Partnership, or to lend any funds to the Partnership or to repay to the Partnership, any Partner
or any creditor of the Partnership any amount including any negative balance in such Limited Partner’s capital account. 
 (c) The
Limited Partner, in its capacity as limited partner, shall have no voice or participation in the management or operation of the Partnership business, and no power to (i) bind the Partnership or to act on behalf of the Partnership in any manner
whatsoever, except as is specifically authorized by this Agreement, or (ii) perform any actions prohibited to limited partners under the Act or the laws of other jurisdictions in which the Partnership conducts business. 

Section 3.2. Costs and Expenses. In carrying out the operation of the Partnership, the General Partner
may from time to time employ one or more officers or other representatives. 
 Section 3.3.
Banking. All funds of the Partnership shall be deposited in a Partnership checking account or accounts as shall be designated by the General Partner. 

Section 3.4. Books. The Partnership books shall be maintained at the principal office. The books
shall be kept on a fiscal year basis (which fiscal year shall end on the Saturday nearest December 31st ), and shall be closed and balanced at the end of each such fiscal year. The General
Partner hereby covenants and agrees to cause all known business transactions pertaining to the purpose of the Partnership to be entered properly and completely into said books. The General Partner will prepare and file on behalf of the Partnership
all tax returns in a timely manner (which may be consolidated). 
 ARTICLE IV 

MISCELLANEOUS 

Section 4.1. Insurance. During the course of the term for which this Partnership is formed, the
Partnership shall carry liability and such other insurance, if any, in such amounts as are deemed appropriate by the General Partner. 

Section 4.2. Transfer. Subject to Section 4.17, the Partnership shall in no way be restricted from
enforcing, assigning, distributing, canceling, waiving, or otherwise amending or modifying the Demand Note. 

  
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 Section 4.3. Capitalization Demand Note (LP). If at any
time a Site Lease is terminated as to any particular Texas Site and the related Mortgage Loan is paid in full, the portion of the related Capitalization Demand Note (LP) with respect to such Texas Site may be cancelled upon the request of the maker
of such note. 
 Section 4.4. Site Lease and Mortgage Loan Termination. In the event that a Site
Lease with respect to a Texas Site is terminated and the Mortgage Loan relating to such Texas Site is paid in full, but the applicable Texas Site is not transferred by virtue of Section 16(g) of the Master Lease Agreement, then the General Partner,
on behalf of the Partnership, shall transfer the applicable Texas Site to the Trust (to be allocated to a new SUBI Portfolio in accordance with the provisions of Section 4.2(i) of the Trust Agreement). 

Section 4.5. Dissolution. a. Notwithstanding any other provision of this Agreement to the contrary,
and any provision of law that otherwise so empowers the Partnership, the Partnership shall not, so long as any indebtedness secured by any Mortgage on the Property remains outstanding or the PBGC Agreement remains in effect, without (i) the consent
of the lender of any indebtedness secured by any Mortgage on the Property and (ii) the unanimous affirmative consent of the General Partner, the Trust, and the Owner Participant (including the consent of the Independent Director (as defined in
Section 7 of the Amended and Restated Certificate of Incorporation for the Owner Participant dated as of March     , 2016)): (a) except as expressly permitted by the PBGC Agreement, (1) dissolve, terminate or liquidate or
consolidate or merge with or into any Person or, (2) transfer the assets of the Partnership, (b) approve any act as a result of which the Partnership would be involved in any Bankruptcy Action (as defined below); (c) engage in any business or
activity other than as set forth in its Certificate of Limited Partnership or Agreement of Limited Partnership (or any successor agreement thereto, however designated); (d) incur or assume any indebtedness, except for the PBGC UBL Claims (to the
extent constituting indebtedness) and such indebtedness which is expressly permitted pursuant to (1) the Mortgage or the Loan Documents, and (2) the PBGC Agreement; or (e) amend this Agreement to change, modify, delete or add any provisions so as to
be materially adverse to the interests of the PBGC, it being understood that (1) any amendment, alteration, change or repeal of Sections 1.2, 1.3, 1.4, 3.1, 4.2, 4.5, 4.13, 5.1, 5.2, 5.3, or 5.4 of this Agreement and (2) any other amendment,
alteration, change or repeal (including, without limitation, additions of new sections or deletions of existing sections) which may, in the reasonable judgment of the Independent Director, impair the bankruptcy-remoteness of the Corporation in any
material respect, in each case shall be deemed to be materially adverse to the interests of the PBGC. Subject to the foregoing, the Partnership reserves the right to amend, alter, change or repeal any provision contained in this Agreement, in the
manner now or hereafter prescribed by statute, and all rights conferred upon Partners herein are granted subject to this reservation. 
  

	 	b.	As used herein, the term “Bankruptcy Action” means: 

 (i) The
commencement of any case or proceeding in respect of the Partnership under any federal or state law relating to bankruptcy, insolvency, reorganization or relief of debtors; 

  
 7 

 (ii) The institution of any proceedings to have the Partnership adjudicated as
bankrupt or insolvent; 
 (iii) The consent to the institution of bankruptcy or insolvency proceedings against the
Partnership; 
 (iv) The filing of a petition, or the consent to a petition, seeking reorganization, arrangement, adjustment,
winding up, dissolution, composition, liquidation or other relief of the Partnership’s debts under any federal or state law relating to bankruptcy; 

(v) The seeking or consenting to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or custodian for
the Partnership or for all or substantially all of its properties; or 
 (vi) The making of an assignment for the benefit of
the creditors of the Partnership; or 
 (vii) The taking by the Partnership of any action in furtherance of any of the
foregoing. 
 Section 4.6. Benefits of Agreement; No Third-Party Rights. None of the provisions of this
Agreement shall be for the benefit of or enforceable by any creditor of the Partnership or by any creditor of the General Partner or the Limited Partner. Nothing in this Agreement shall be deemed to create any right in any Person not a party hereto,
and this Agreement shall not be construed in any respect to be a contract in whole or in part for the benefit of any third Person; provided, however, that for the avoidance of doubt, the Independent Director and the Owner Participant shall each be
an express third party beneficiary hereto and, for such purposes, a deemed party hereto. 
 Section 4.7. Severability of
Provisions. Each provision of this Agreement shall be considered severable and if for any reason any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such
invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Agreement which are valid, enforceable and legal. 

Section 4.8. Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to
the subject matter hereof. 
 Section 4.9. Binding Agreement. Notwithstanding any other provision of
this Agreement, the General Partner and the Limited Partner agree that this Agreement constitutes a legal, valid and binding agreement of the General Partner and the Limited Partner, and is enforceable against the General Partner and the Limited
Partner, in accordance with its terms. 
 Section 4.10. Governing Law. This Agreement shall be governed by
and construed under the laws of the State of Delaware (without regard to conflict of laws principles), all rights and remedies being governed by said laws. 

  
 8 

 Section 4.11. Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall be deemed an original of this Agreement and all of which together shall constitute one and the same instrument. 

Section 4.12. Effectiveness. Pursuant to the Act, this Agreement shall be effective as of the time of
the filing of the Certificate of Limited Partnership of the Partnership with the office of the Delaware Secretary of State. 
 Section
4.13. Limitation on Assets. Notwithstanding anything to the contrary contained in the Certificate of Limited Partnership or this Agreement, the Partnership shall not hold or acquire, directly or indirectly, any
ownership interest (legal or equitable) in any real or personal property other than the Property, or become a shareholder of or member or partner in any entity which acquires or holds any property other than the Property, until such time as any
indebtedness from the Partnership to SRC DEPOSITOR CORPORATION (and its successors and/or assigns, collectively, “Lender”) has been fully repaid and all obligations from the Partnership to Lender are satisfied. 

This Section 4.13 of this Agreement shall not be amended without the prior written consent of Lender. 

Section 4.14. Waiver. Notwithstanding anything to the contrary contained in the Certificate of Limited
Partnership or this Agreement, the Partnership and its Partners hereby waive their right to dissolve or terminate (and waive their right to consent to the dissolution or termination of) the Partnership or this Agreement, and shall not take any
action towards that end, (a) so long as the Partnership is obligated on any indebtedness or obligations of any kind whatsoever to Lender, except upon the express prior written consent of Lender, and (b) so long as the PBGC Agreement remains in
effect, except upon the express prior written consent of PBGC (notwithstanding anything to the contrary in Section 4.6 of this Agreement). Further, the death, retirement, incapacity, insanity, expulsion or resignation, bankruptcy, insolvency,
dissolution or other similar proceeding of, or pertaining to, any Partner, or any other event or act causing dissolution of the Limited Partnership pursuant to the Act or this Agreement, shall not constitute an event of liquidation, dissolution or
termination of the Limited Partnership or this Agreement, except upon the express prior written consent of Lender and, while the PBGC Agreement remains in effect, of PBGC (notwithstanding anything to the contrary in Section 4.6 of this Agreement).
Any amendments to this Section 4.14 shall require the prior written consent of Lender and, while the PBGC Agreement remains in effect, of PBGC (notwithstanding anything to the contrary in Section 4.6 of this Agreement), provided that such
consent of Lender shall not be required once the Limited Partnership no longer has any indebtedness or other obligation of any kind whatsoever owing or due Lender. This Section 4.14 shall cease to be of further force or effect once the Limited
Partnership no longer has any outstanding indebtedness or other obligation of any kind whatsoever owing or due Lender and the PBGC Agreement is no longer in effect. 

Section 4.15. Terms. Capitalized terms not otherwise defined herein shall be as defined in
Schedule I to the Participation Agreement, as in effect on the date hereof. 

  
 9 

 Section 4.16. Tax Characterization. No election shall be made
pursuant to Treasury Regulation Section 301.7701-3 to have the Partnership treated as an association taxable as a corporation for United States federal income tax purposes. 

Section 4.17. PBGC Agreement. Notwithstanding any provision of this Agreement to the contrary, the
Partnership may consummate the transactions contemplated by the PBGC Agreement or any of the other Transaction Documents (as defined in the PBGC Agreement). 

ARTICLE V 
 LIMITED
LIABILITY EXCULPATION AND INDEMNIFICATION 
 Section 5.1. Limited Liability. Except as otherwise
expressly provided by the Act, the debts, obligations and liabilities of the Partnership, whether arising in contract, tort or otherwise, shall be the debts, obligations and liabilities solely of the Partnership, and the General Partner and/or the
Limited Partner shall not be obligated personally for any such debt, obligation or liability of the Partnership solely by reason of being a General Partner and/or the Limited Partner of the Partnership. 

Section 5.2. Exculpation. To the maximum extent that Delaware law in effect from time to time permits limitation of
the liability of officers of a limited partnership, no officer or manager of the Partnership shall be liable to the Partnership or to any Partner for money damages. Neither the amendment nor repeal of this Section 5.2, nor the adoption or
amendment of any other provision of this Agreement inconsistent with this Section 5.2, shall apply to or affect in any respect the applicability of the preceding sentence with respect to any act or failure to act which occurred prior to such
amendment, repeal or adoption. In the absence of any Delaware statute limiting the liability of officers or managers of a limited partnership for money damages in a suit by or on behalf of the Partnership or by any Partner, no officer or manager (as
the case may be) of the Partnership shall be liable to the Partnership or to any Partner for money damages except to the extent that (a) the manager or officer actually received an improper benefit or profit in money, property or services, for the
amount of the benefit or profit in money, property or services actually received, or (b) a judgment or other final adjudication adverse to the officer or manager (as the case may be) is entered in a proceeding based on a finding in the proceeding
that the officer’s or manager’s action or failure to act (as the case may be) was material to the cause of action adjudicated in the proceeding and was committed in bad faith or was the result of active and deliberate dishonesty. 

Section 5.3. Indemnification. Except as provided in Section 1.3, the Partnership shall have the power, to
the maximum extent permitted by Delaware law in effect from time to time, to obligate itself to, and hereby does obligate itself to, indemnify, and to pay or reimburse reasonable expenses in advance of final disposition of a proceeding to (a) any
individual who is a present or former Partner, manager or officer of the Partnership, or (b) any individual who, while a Partner, officer or manager of the Partnership and at the request of the Partnership, serves or has served as a director,
manager, officer, partner, trustee, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or any other enterprise from and against any claim or liability to which such person may become subject or which
such person may incur by reason of such person’s status as a present or former Partner, manager or officer of the Partnership. The Partnership shall have the power to, and hereby does obligate 

  
 10 

 
itself to, provide such indemnification and advancement of expenses to a person who served a predecessor of the Partnership in any of the capacities described in (a) or (b) above and to
any employee or agent of the Partnership or a predecessor of the Partnership. 
 Section 5.4. Capacity of
Trust. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the Trust,
in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Trust and the Partnership is made and intended not as personal representations,
undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on U.S. Bank Trust National
Association, individually or personally, to perform any covenant either expressed or impliedly contained herein, all such liability, if any, being expressly waived by the parties hereto, (d) U.S. Bank Trust National Association has made no
investigation as to the accuracy or completeness of any representations and warranties made by the Trust and the Partnership in this Agreement and (e) under no circumstances shall U.S. Bank Trust National Association be personally liable for the
payment of any indebtedness or expenses of the Trust or the Partnership or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust or the Partnership under this Agreement or any
other related document. 
 [balance of page intentionally left blank] 

  
 11 

 IN WITNESS WHEREOF, the General Partner and the Limited Partner have duly executed and delivered
this Agreement effective as of the day and year first above written. 
  

											
	GENERAL PARTNER:
	
	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, general partner
		
	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series, sole member
			
		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
					
		 		 	By:	 		 	 /s/ Melissa A. Rosal

		 		 	Name:	 		 		 	Melissa A. Rosal
		 		 	Title:	 		 		 	Vice President
	
	LIMITED PARTNER:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series, sole member
			
		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
					
		 		 	By:	 		 	 /s/ Melissa A. Rosal

		 		 	Name:	 		 	Melissa A. Rosal
		 		 	Title:	 		 	Vice President

 Limited Partnership Agreement 

SRC Real Estate (TX), LP 

 Attachment A 

Texas Sites  
  

	1)	Store #1027 - 750 Sunland Park Dr., El Paso, TX 79912 

  

	2)	Store# 1076 — 2401 S. Stemmons Fwy. Suite 5000, Lewisville, TX 75067 

  

	3)	Store #1267 – 1800 Green Oaks Rd., Fort Worth, TX 76116 

	 	(also	referred to as Ridgmar-Fort Worth) 

  

	4)	Store #1176 - 999 Pasadena Blvd., Pasadena, TX 77506 

  

	5)	Store #1217 -1305 Airline Rd., Corpus Christi, TX 78412 

  

	6)	Store #1297 - 1101 Melbourne Rd., Suite 7000, Hurst, TX 76053 

  

	7)	Store #1307 - 4310 Buffalo Gap Rd., Abilene, TX 79606 

  

	8)	Store#1317 - 8401 Gateway Blvd. W., El Paso, TX 79925 

	 	(also	referred to as Cielo Vista) 

  

	9)	Store #1327 - 1000 San Jacinto Mall, Baytown, TX 77521 

  

	10)	Store #1337 - 851 N. Central Expwy., Plano, TX 75075 

  

	11)	Store #1187 - 3000 Town East Mall, Mesquite, TX 75150 

  

	12)	Store #1367 - 6001 W. Waco Dr., Waco, TX 76710 

  

	13)	Store #1377 - 7925 FM 1960 Rd. W., Houston, TX 77070 

  

	14)	Store #1387 - 7701 I-40 West, Amarillo, TX 79121 

  

	15)	Store #1407 - 6461 Eastex Fwy, Beaumont, TX 77706 

  

	16)	Store #1417 - 20131 Highway 59 N, Humble, TX 77338 

	 	(also	referred to as Houston/Dearbrook) 

  

	17)	Store #1427 - 6909 N. Loop 1604 E, San Antonio, TX 78247 

	 	(also	referred to as San Antonio/Rolling Oaks) 

  

	18)	Store #1437 - 3871 S. Cooper St., Arlington, TX 76015 

  

	19)	Store #1447 - 4900 S. Hulen St., Fort Worth, TX 76132 

  

	20)	Store #2197 - 10000 Emmett F. Lowry Expy., Texas City, TX 77591 

  

	21)	Store #1487 - 11200 Lakeline Mall Dr., Cedar Park, TX 78613 

	 	(also	referred to as Austin (Cedar Park)) 

	22)	Store #2247 - 5300 San Dario Ave, Laredo, TX 78041 

  

	23)	Store #2497 - 2320 N. Expressway, Brownsville, TX 78521 

  

	24)	Store #2587 - 2201 Interstate 35E S, Denton, TX 76205 

  

	25)	Store #2547 - 1502 Harvey Rd., College Station, TX 77840 

  

	26)	Store #2557 - 3510 McCann, Longview, TX 75605 

 EXECUTION VERSION 

AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 SRC REAL ESTATE
HOLDINGS (TX), LLC 
 A Delaware Limited Liability Company 

THIS AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) is made and entered into as of the 18th day
of March, 2016, by SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust acting on behalf of the applicable SUBI Portfolio (the “Trust” and/or “Member”), as sole member, to form a limited liability
company under the laws of the State of Delaware for the purposes and upon the terms and conditions hereinafter set forth. 
 ARTICLE I.

 PURPOSES AND POWERS, PRINCIPAL OFFICE, REGISTERED OFFICE AND REGISTERED AGENT, PERIOD OF DURATION 

Section 1.1 Name. The name of the limited liability company is SRC Real Estate Holdings (TX), LLC (the
“Company”). 
 Section 1.2 Purposes and Powers. The Company is a single purpose entity. The
nature of the business and of the purposes to be conducted and promoted by the Company is to engage solely in the following activities: 

(a) to act as the general partner of SRC REAL ESTATE (TX), LP, a Delaware limited partnership (the “Limited Partnership”)
created by that certain limited partnership agreement amended and restated on the date hereof (the “Limited Partnership Agreement”), whose purposes are: (i) to acquire real property, together with improvements thereon (the
“Property”) located in the State of Texas and listed on Attachment A hereto, and (ii) to own, hold, sell, assign, transfer, operate, lease, mortgage, pledge and otherwise deal with the Property as more particularly described
in the Limited Partnership Agreement; 
 (b) as the general partner of the Limited Partnership, to enter into a Participation Agreement
(herein, together with any amendments, supplements or other modifications thereof, the “Participation Agreement”) among U.S. Bank Trust National Association, the Trust, Sears, Roebuck and Co., SRC Depositor Corporation and the other
parties thereto; 
 (c) as the general partner of the Limited Partnership, to consummate the transactions contemplated by the Participation
Agreement, including (without limitation) the execution, delivery and performance of the Operative Documents; 
 (d) to maintain deposit,
checking, investment and other accounts with financial institutions that are incidental to, or necessary or convenient for, the accomplishment of the purposes otherwise set forth in this Section 1.2; 

 (e) as the general partner of the Limited Partnership, to enter into such other agreements and
instruments as may be contemplated by the terms and provisions of the Operative Documents or necessary or desirable in connection with the consummation of the transactions contemplated thereby or the performance by the Limited Partnership of its
obligations thereunder; and 
 (f) to engage in any lawful act or activity permitted under the Delaware Limited Liability Company Act,
Delaware Code Annotated, Title 6, Section 18-101, et seq., as amended from time to time (the “Act”), that are incidental to the purposes otherwise set forth in this Section 1.2. 

Section 1.3 Indemnification. Any indemnification by the Company to its members, managers or officers shall be
fully subordinated to any obligations respecting the Trust or the Property, and any claim for indemnification against the Company shall not be paid to the extent that the Company’s cash flow is insufficient to pay any such obligations as they
become due and payable. 
 Section 1.4 Limitations on the Company’s Actions. Except as otherwise provided
in the Operative Documents or as authorized in this Agreement, in order to preserve and ensure its separate and distinct identity, the Company shall conduct its affairs in accordance with the following provisions: 

a. It shall establish and allocate fairly and reasonably any overhead for office space shared with any Affiliate. 

b. It shall maintain separate records, bank accounts, financial statements and books of account from those of any other Person. 

c. It shall hold its assets in its own name and not commingle assets with those of any other Person. 

d. It shall conduct its own business in its own name, not identify itself as a division or part of any other Person and correct any known
misunderstanding regarding its status as a separate entity (except as otherwise required by Section 4.13 of this Agreement). 
 e. It
shall preserve its existence and observe organizational formalities as a limited liability company. 
 f. It shall not form subsidiaries.

 g. It shall maintain financial statements separate from any other Person. 

h. It shall pay any of its liabilities out of its own funds, including salaries of any employees (if any), not funds of any other Person and
maintain adequate capital in light of its contemplated business operations. 

  
 2 

 i. It shall maintain an arm’s length relationship with any Affiliate and enter into
transactions with Affiliates only on commercially reasonable terms. 
 j. It shall not guarantee, assume or become obligated for the debts of
any other Person, including any Affiliate or hold out its credit as being available to satisfy the obligations of others, except for, to the extent constituting the debts or obligations of any other Person, the PBGC UBL Claims (as defined in the
PBGC Agreement (as defined below)). 
 k. It shall use stationery, invoices and checks separate from any Affiliate. 

l. Other than pursuant to the Mortgage and any other Loan Documents or as expressly permitted by the PBGC Agreement, it shall not pledge its
assets for the benefit of any Person (including any Affiliate), or acquire any obligations or securities of any Person. 
 m. It shall hold
itself out as an entity separate and distinct from any other Person (except as otherwise required by Section 4.13 of this Agreement). 

n. Except for, to the extent constituting indebtedness, the PBGC UBL Claims, it shall not incur indebtedness other than unsecured payables in
excess of 2% of the aggregate amount of the Mortgage Loans relating to the Texas Sites; provided, however, that this will not limit its liability as the General Partner for the indebtedness of the Limited Partnership which is otherwise not limited
recourse. 
 For purposes of this Agreement, “PBGC Agreement” means the Pension Plan Protection and Forbearance Agreement, dated as of
March 18, 2016, among Sears Holdings Corporation (“Holdings”), the Company, certain other subsidiaries of Holdings and the Pension Benefit Guaranty Corporation (“PBGC”). 

Section 1.5 Principal Office. The principal office of the Company shall be located at c/o Sears Legal Department,
Attention: Steven Cook, 6th Floor, 3333 Beverly Road, Hoffman Estates, Illinois 60176, or at such other location as the Member may from time to time determine. 

Section 1.6 Registered Agent; Registered Office. The registered office of the Company in the State of Delaware as
required by Section 18-104 of the Act shall be located at Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware, or at such other place or places as the Member may from time to time determine. The registered agent for
service of process on the Company in the State of Delaware shall be The Corporation Trust Company, whose address is Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware, 19801. 

Section 1.7 Period of Duration. The Company as herein constituted shall have a perpetual duration, unless
terminated pursuant to law or the provisions of this Agreement. The existence of the Company as a separate legal entity shall continue until the cancellation of the Certificate of Formation of the Company as provided in the Act. 

  
 3 

 Section 1.8 Filing of Certificates. Howard L. Rosenberg, hereby
designated as an “authorized person” within the meaning of the Act, shall execute, deliver and file the Certificate of Formation of the Company with the Secretary of State of the State of Delaware. Upon the filing of the Certificate of
Formation of the Company, his powers as an “authorized person” shall cease and the Member shall thereafter be designated as an “authorized person” within the meaning of the Act, to execute, deliver and file all certificates (and
any amendments and/or restatements thereof) required or permitted by the Act to be filed in the Office of the Secretary of State and any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do
business in a jurisdiction in which the Company may wish to conduct business. 
 ARTICLE II. 

MEMBER, CAPITAL CONTRIBUTIONS, DIVISION OF PROFITS AND LOSSES 

Section 2.1 Members. The Trust shall be, and is, hereby admitted to the Company as the sole member of the Company.
The Member may not resign from the Company prior to its dissolution and winding up. 
 Section 2.2 Capital
Contributions. The Member has contributed all of the capital of the Company and may in the future contribute any additional capital deemed necessary by the Member for the operation of the Company. The provisions of this Agreement,
including this Section 2.2 are intended solely to benefit the Member and, to the fullest extent permitted by law, shall not be construed as conferring any benefit upon any creditor of the Company (and no such creditor of the Company shall be
a third-party beneficiary of this Agreement) and the Member shall not have any duty or obligation to any creditor of the Company to make any contribution to the Company or to issue any call for capital pursuant to this Agreement. 

Section 2.3 Allocation of Profits and Losses. All items of the Company’s income, gain, profits, loss,
deduction or credit shall be allocated 100% to the Member. 
 Section 2.4 Distributions. Distributions shall be
made to the Member at the times and in the aggregate amounts determined by the Member. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Member on account of
its interest in the Company if such distribution would violate Section 18-607 of the Act. 
 ARTICLE III. 

MANAGEMENT 

Section 3.1 Member-Managed. The powers, business and affairs of the Company shall be managed by the Member. 

Section 3.2 Costs and Expenses. In carrying out the operation of the Company, the Member may from time to time
employ one or more officers or other representatives. 
 Section 3.3 Banking. All funds of the Company shall be
deposited in a Company checking account or accounts as shall be designated by the Member. 

  
 4 

 Section 3.4 Books. The Company books shall be maintained at the
principal office. The books shall be kept on a fiscal year basis (which fiscal year shall end on the Saturday nearest December 31st ), and shall be closed and balanced at the end of each such
fiscal year. The Member hereby covenants and agrees to cause all known business transactions pertaining to the purpose of the Company to be entered properly and completely into said books. The Member will prepare and file on behalf of the Company
all tax returns in a timely manner (which may be consolidated). 
 ARTICLE IV. 

MISCELLANEOUS 

Section 4.1 Insurance. During the course of the term for which this Company is formed, the Company shall carry
liability and such other insurance, if any, in such amounts as are deemed appropriate by the Member. 
 Section 4.2
Intentionally Omitted.  
 Section 4.3 Intentionally Omitted.  

Section 4.4 Dissolution. a. Notwithstanding any other provision of this Agreement to the contrary, and any
provision of law that otherwise so empowers the Company, the Company shall not, so long as any indebtedness secured by any Mortgage on the Property remains outstanding or the PBGC Agreement remains in effect, without (i) the consent of the lender of
any indebtedness secured by any Mortgage on the Property and (ii) the unanimous affirmative consent of the Trust, and the Owner Participant (including the consent of the Independent Director (as defined in Section 7 of the Amended and Restated
Certificate of Incorporation for the Owner Participant dated as of March     , 2016)): (a) except as expressly permitted by the PBGC Agreement, (1) dissolve, terminate or liquidate or consolidate or merge with or into any Person,
cause the Limited Partnership to dissolve, terminate or liquidate or consolidate or merge with or into any Person, or (2) transfer the assets of the Company or cause the Limited Partnership to transfer the assets of the Limited Partnership; (b)
approve any act as a result of which the Company or the Limited Partnership, would be involved in any Bankruptcy Action (as defined below); (c) cause the Company or the Limited Partnership to engage in any business or activity other than as set
forth in its Certificate of Incorporation, Articles of Organization or Operating Agreement or Certificate of Limited Partnership, Certificate of Formation or Agreement of Limited Partnership (or any successor agreement thereto, however designated);
(d) incur or assume any indebtedness, or cause the Limited Partnership to incur or assume any indebtedness, except for the PBGC UBL Claims (to the extent constituting indebtedness) and such indebtedness which is expressly permitted pursuant to (1)
the Mortgage or the Loan Documents, and (2) the PBGC Agreement; or (e) amend this Agreement or the Limited Partnership Agreement, to change, modify, add or delete any provisions so as to be materially adverse to the interests of the PBGC, it being
understood that (1) any amendment, alteration, change or repeal of Sections 1.2, 1.3, 1.4, 3.1, 4.4, 5.1, 5.2, 5.3, or 5.4 of this Agreement and (2) any other amendment, alteration, change or repeal (including, without limitation, additions of new
sections or deletions of existing sections) which may, in the reasonable judgment of the Independent Director, impair the bankruptcy-remoteness of the Corporation in any material respect, in each case shall be deemed to be materially adverse to the
interests of the PBGC. 

  
 5 

 
Subject to the foregoing, the Company reserves the right to amend, alter, change or repeal any provision contained in this Agreement, in the manner now or hereafter prescribed by statute, and all
rights conferred upon Members herein are granted subject to this reservation. 
 b. As used herein, the term “Bankruptcy
Action” means: 
 (i) The commencement of any case or proceeding in respect of the Company or the Limited
Partnership under any federal or state law relating to bankruptcy, insolvency, reorganization or relief of debtors; 
 (ii)
The institution of any proceedings to have the Company or the Limited Partnership adjudicated as bankrupt or insolvent; 

(iii) The consent to the institution of bankruptcy or insolvency proceedings against the Company or the Limited Partnership;

 (iv) The filing of a petition, or the consent to a petition, seeking reorganization, arrangement, adjustment, winding up,
dissolution, composition, liquidation or other relief of the Company’s or the Limited Partnership’s debts under any federal or state law relating to bankruptcy; 

(v) The seeking or consenting to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or custodian for
the Company or the Limited Partnership or for all or substantially all of either of its properties; or 
 (vi) The making of
an assignment for the benefit of the creditors of the Company or the Limited Partnership; or 
 (vii) The taking by the
Company or the Limited Partnership of any action in furtherance of any of the foregoing. 
 Section 4.5 Benefits of
Agreement; No Third-Party Rights. None of the provisions of this Agreement shall be for the benefit of or enforceable by any creditor of the Company or by any creditor of the Member. Nothing in this Agreement shall be deemed to create
any right in any person not a party hereto, and this Agreement shall not be construed in any respect to be a contract in whole or in part for the benefit of any third Person; provided, however, that for the avoidance of doubt, the Independent
Director and the Owner Participant shall each be an express third party beneficiary hereto and, for such purpose, a deemed party hereto. 

Section 4.6 Severability of Provisions. Each provision of this Agreement shall be considered severable and if for
any reason any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this
Agreement which are valid, enforceable and legal. 
 Section 4.7 Entire Agreement. This Agreement constitutes
the entire agreement of the Member with respect to the subject matter hereof. 

  
 6 

 Section 4.8 Binding Agreement. Notwithstanding any other provision of
this Agreement, the Member agrees that this Agreement constitutes a legal, valid and binding agreement of the Member, and is enforceable against the Member in accordance with its terms. 

Section 4.9 Governing Law. This Agreement shall be governed by and construed under the laws of the State of
Delaware (without regard to conflict of laws principles), all rights and remedies being governed by said laws. 
 Section 4.10
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Agreement and all of which together shall constitute one and the same instrument. 

Section 4.11 Effectiveness. Pursuant to Section 18-201(d) of the Act, this Agreement shall be effective as of the
time of the filing of the Certificate of Formation of the Company with the office of the Delaware Secretary of State. 
 Section 4.12
Terms. Capitalized terms not otherwise defined herein shall be as defined in Schedule I to the Participation Agreement, as in effect on the date hereof. 

Section 4.13 Tax Characterization. No election shall be made pursuant to Treasury Regulation Section 301.7701-3 to
have the Company treated as an association taxable as a corporation for United States federal income tax purposes. 
 Section 4.14
PBGC Agreement. Notwithstanding any provision of this Agreement to the contrary, the Company may consummate the transactions contemplated by the PBGC Agreement or any of the other Transaction Documents (as
defined in the PBGC Agreement). 
 ARTICLE V. 

LIMITED LIABILITY EXCULPATION AND INDEMNIFICATION 

Section 5.1 Limited Liability. Except as otherwise expressly provided by the Act, the debts, obligations and
liabilities of the Company, whether arising in contract, tort or otherwise, shall be the debts, obligations and liabilities solely of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the
Company solely by reason of being a Member of the Company. 
 Section 5.2 Exculpation. To the maximum extent
that Delaware law in effect from time to time permits limitation of the liability of officers of a limited liability company, no officer or manager of the Company shall be liable to the Company or to any Member for money damages. Neither the
amendment nor repeal of this Section 5.2, nor the adoption or amendment of any other provision of this Agreement inconsistent with this Section 5.2, shall apply to or affect in any respect the applicability of the preceding sentence with respect to
any act or failure to act which occurred prior to such amendment, repeal or adoption. In the absence of any Delaware statute limiting the liability of officers or managers of a limited liability company for money damages in a suit by or on behalf of
the Company or by any Member, no officer or manager (as the case may be) of the Company shall be liable to the Company or to any Member for money damages except to the extent that (a) the manager or officer actually received an improper benefit or
profit in money, property or services, for the amount of the benefit or profit 

  
 7 

 
in money, property or services actually received, or (b) a judgment or other final adjudication adverse to the officer or manager (as the case may be) is entered in a proceeding based on a
finding in the proceeding that the officer’s or manager’s action or failure to act (as the case may be) was material to the cause of action adjudicated in the proceeding and was committed in bad faith or was the result of active and
deliberate dishonesty. 
 Section 5.3 Indemnification. Subject to the provisions of Section 1.3, the Company
shall have the power, to the maximum extent permitted by Delaware law in effect from time to time, to obligate itself to, and hereby does obligate itself to, indemnify, and to pay or reimburse reasonable expenses in advance of final disposition of a
proceeding to (a) any individual who is a present or former Member, manager or officer of the Company, or (b) any individual who, while a Member, officer or manager of the Company and at the request of the Company, serves or has served as a
director, manager, officer, partner, trustee, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or any other enterprise from and against any claim or liability to which such person may become subject
or which such person may incur by reason of such person’s status as a present or former Member, manager or officer of the Company. The Company shall have the power to, and hereby does obligate itself to, provide such indemnification and
advancement of expenses to a person who served a predecessor of the Company in any of the capacities described in (a) or (b) above and to any employee or agent of the Company or a predecessor of the Company. 

Section 5.4 Capacity of Trust. It is expressly understood and agreed by the Member that (a) this Agreement is
executed and delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings
and agreements herein made on the part of the Trust and the Company is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of binding only
the Trust, (c) nothing herein contained shall be construed as creating any liability of U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if
any, being expressly waived by the Member, (d) U.S. Bank Trust National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by the Trust and the Company in this Agreement and (e) under
no circumstances shall U.S. Bank Trust National Association be personally liable for the payment of any indebtedness or expenses of the Trust or the Company or be liable for the breach or failure of any obligation, representation, warranty or
covenant made or undertaken by the Trust or the Company under this Agreement or any other related document. 
 [balance of page intentionally
left blank]

  
 8 

 IN WITNESS WHEREOF, the Member has duly executed and delivered this Agreement effective as of the
day and year first above written. 
  

					
	MEMBER:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	 /s/ Melissa A. Rosal

		 	Name:	 	Melissa A. Rosal
		 	Title:	 	Vice President

 SRC Real Estate Holdings (TX), LLC 

LLC Agreement 

 Attachment A

Texas Sites 
 1) Store #1027 - 750 Sunland Park
Dr., El Paso, TX 79912 
 2) Store# 1076 — 2401 S. Stemmons Fwy. Suite 5000, Lewisville, TX 75067 

3) Store #1267 – 1800 Green Oaks Rd., Fort Worth, TX 76116 (also referred to as Ridgmar-Fort Worth) 

4) Store #1176 - 999 Pasadena Blvd., Pasadena, TX 77506 
 5)
Store #1217 -1305 Airline Rd., Corpus Christi, TX 78412 
 6) Store #1297 - 1101 Melbourne Rd., Suite 7000, Hurst, TX 76053 

7) Store #1307 - 4310 Buffalo Gap Rd., Abilene, TX 79606 
 8)
Store#1317 - 8401 Gateway Blvd. W., El Paso, TX 79925 (also referred to as Cielo Vista) 
 9) Store #1327 - 1000 San Jacinto Mall, Baytown, TX 77521 

10) Store #1337 - 851 N. Central Expwy., Plano, TX 75075 
 11)
Store #1187 - 3000 Town East Mall, Mesquite, TX 75150 
 12) Store #1367 - 6001 W. Waco Dr., Waco, TX 76710 

13) Store #1377 - 7925 FM 1960 Rd. W., Houston, TX 77070 
 14)
Store #1387 - 7701 I-40 West, Amarillo, TX 79121 
 15) Store #1407 - 6461 Eastex Fwy, Beaumont, TX 77706 

16) Store #1417 - 20131 Highway 59 N, Humble, TX 77338 (also referred to as Houston/Dearbrook) 

17) Store #1427 - 6909 N. Loop 1604 E, San Antonio, TX 78247 (also referred to as San Antonio/Rolling Oaks) 

18) Store #1437 - 3871 S. Cooper St., Arlington, TX 76015 
 19)
Store #1447 - 4900 S. Hulen St., Fort Worth, TX 76132 
 20) Store #2197 - 10000 Emmett F. Lowry Expy., Texas City, TX 77591 

21) Store #1487 - 11200 Lakeline Mall Dr., Cedar Park, TX 78613 (also referred to as Austin (Cedar Park)) 

 22) Store #2247 - 5300 San Dario Ave, Laredo, TX 78041 

23) Store #2497 - 2320 N. Expressway, Brownsville, TX 78521 

24) Store #2587 - 2201 Interstate 35E S, Denton, TX 76205 
 25)
Store #2547 - 1502 Harvey Rd., College Station, TX 77840 
 26) Store #2557 - 3510 McCann, Longview, TX 75605 

 Portions of this document have been redacted pursuant to a Request for Confidential Treatment filed with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

Exhibit 17 
 Independent
Director and Manager Lists 
 Schedule of Compensation & Benefits for Current Directors and Managers 

List of Independent Director and Managers 
 Sandra
Horwitz 
 Michelle Dryer 
 William Popeo  

[**] 

 Exhibit 18 

Custodian 
 State Street
Bank and Trust Company 

 Portions of this document have been redacted pursuant to a Request for Confidential treatment filed with the
Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “[**]”. 

Exhibit 19 
 Approved
Appraisers 
  

	[**]	

 Exhibit 20 

PBGC IP Perfection Documents 

[See Attached] 

 

 
 UCC FINANCING STATEMENT 
FOLLOW INSTRUCTIONS

A. NAME & PHONE OF CONTACT AT FILER (optional) 
B. E-MAIL CONTACT AT FILER
(optional) 
C. SEND ACKNOWLEDGMENT TO: (Name and Address) 
THE ABOVE SPACE IS
FOR FILING OFFICE USE ONLY 
1. DEBTOR’S NAME: Provide only one Debtor name (1a or 1b) (use exact, full name; do not omit, modify, or abbreviate any part of the
Debtor’s name); if any part of the Individual Debtor’s name will not fit in line 1b, leave all of item 1 blank, check here and provide the Individual Debtor information in item 10 of the Financing Statement Addendum (Form UCC1Ad)

1a. ORGANIZATION’S NAME 
KCD IP, LLC 
OR 1b. INDIVIDUAL’S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 
1c.
MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 
c/o Sears Holding Corporation, 3333 Beverly Road Hoffman Estates IL 60179 USA 
2. DEBTOR’S NAME : Provide only one Debtor name (2a or 2b) (use exact, full name; do not omit, modify, or abbreviate any part of the Debtor’s name); if any part of the
Individual Debtor’s name will not fit in line 2b, leave all of item 2 blank, check here and provide the Individual Debtor information in item 10 of the Financing Statement Addendum (Form UCC1Ad) 
2a. ORGANIZATION’S NAME 
OR 2b. INDIVIDUAL’S SURNAME FIRST PERSONAL NAME ADDITIONAL
NAME(S)/INITIAL(S) SUFFIX 
2c. MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY

3. SECURED PARTY’S NAME (or NAME of ASSIGNEE of ASSIGNOR SECURED PARTY): Provide only one Secured Party name (3a or 3b) 
3a. ORGANIZATION’S NAME 
Pension Benefit Guaranty Corporation 
OR 3b. INDIVIDUAL’S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)/INITIAL(S) SUFFIX 
3c.
MAILING ADDRESS CITY STATE POSTAL CODE COUNTRY 
Attn: Chief Counsel, Office of the Chief Counsel, 1200 K Street N.W., Suite 320 Washington DC 20005-4026 USA

4. COLLATERAL: This financing statement covers the following collateral: 
See
Exhibit A attached hereto. 
5. Check only if applicable and check only one box: Collateral is held in a Trust (see UCC1Ad, item 17 and Instructions) being
administered by a Decedent’s Personal Representative 
6a. Check only if applicable and check only one box: 6b. Check only if applicable and check only one box:

Public-Finance Transaction Manufactured-Home Transaction A Debtor is a Transmitting Utility Agricultural Lien Non-UCC Filing 
7. ALTERNATIVE DESIGNATION (if applicable): Lessee/Lessor Consignee/Consignor Seller/Buyer Bailee/Bailor Licensee/Licensor 
8. OPTIONAL FILER REFERENCE DATA: 
File with: Delaware Secretary of State Additional Pages: 1
(Ref No. 1006966-00002) 
FILING OFFICE COPY — UCC FINANCING STATEMENT (Form UCC1) (Rev. 04/20/11) International Association of Commercial Administrators (IACA)

 Exhibit A 

to UCC-1 Financing Statement 
  

							
	Debtor: 	 	KCD IP, LLC	 	Secured Party: 	 	Pension Benefit Guaranty Corporation
		 	c/o Sears Holding Corporation	 		 	Attn: Chief Counsel
		 	3333 Beverly Road	 		 	Office of the Chief Counsel
		 	Hoffman Estates, IL 60179	 		 	1200 K Street, N.W., Suite 320
		 		 		 	Washington DC 20005-4026

 Collateral: 

Debtor’s right, title and interest in and to all trademarks (including service marks, unregistered trademarks, and licenses), federal and state trademark
registrations and applications made by Debtor, common law trademarks and trade names owned by or assigned to Debtor, all registrations and applications for the foregoing and all exclusive and nonexclusive licenses from third parties of the right to
use trademarks of such third parties along with any and all (a) renewals thereof, (b) income, royalties, damages and payments now and hereafter due and/or payable with respect thereto, including without limitation, damages, claims and payments for
past or future infringements thereof, (c) rights to sue for past, present and future infringements thereof, and (d) foreign trademarks, trademark registrations and trade name applications for any thereof and any other rights corresponding thereto
around the world (all of the foregoing, collectively, the “Trademarks”), all rights under contracts, agreements, authorizations, orders, licenses and franchises related to any Trademark, all general intangibles related to or arising
from any Trademark, including, without limitation, the entire goodwill of or associated with the businesses now or hereafter conducted by Debtor connected with and symbolized by any of the Trademarks, and all books and records related to the
foregoing, in each case, whether now owned or existing or hereafter acquired or arising, together with any and all additions thereto and replacements therefor and proceeds and products thereof, including without limitation, all accessions to,
substitutions for and, replacements, proceeds, supporting obligations and products of any of the foregoing and, to the extent not otherwise included, all payments under insurance, or any indemnity, warranty or guaranty payable by reason of loss or
damage or otherwise in respect of any of the foregoing 

 EXECUTION VERSION 

SECURITY AGREEMENT 
 THIS
SECURITY AGREEMENT (this “IP Security Agreement”), dated as of [            , 20    ]1, is by and
between KCD IP, LLC, a Delaware limited liability company (the “Grantor”), and PENSION BENEFIT GUARANTY CORPORATION (the “Secured Party” and, collectively with Grantor, the “Parties”). 

W I T N E S S E T H: 
 WHEREAS,
the Secured Party is a wholly owned United States government corporation established under 29 U.S.C. § 1302 to administer the Plan termination insurance program created under Title IV of the Employee Retirement Income Security Act of 1974, 29
U.S.C. §§ 1301 – 1461 (2012, Supp. I 2013) (as amended from time to time, together with the regulations thereunder, in each case in effect from time to time “ERISA”); 

WHEREAS, Sears Holdings Corporation, a Delaware corporation (the “Company”) is the plan sponsor (as such term is defined in
ERISA Section 3(16)(B)) of the Sears Holdings Pension Plan, as amended and restated effective January 1, 2014 (the “Plan”); 

WHEREAS, the Company is the ultimate corporate parent company of Grantor, and Grantor is a member of the Company’s “controlled
group,” as that term is defined in ERISA Section 4001(a)(14); 
 WHEREAS, pursuant to that certain Pension Plan Protection and
Forbearance Agreement, dated as of March 18, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”), by and among the Company, the other Sears Parties including Grantor, and the Secured Party,
the Company, Grantor and the other Sears Parties have offered to provide the Secured Party with certain enhanced protections in exchange for the Secured Party’s agreement to forbear from initiating termination proceedings with respect to the
Plan pursuant to ERISA Section 4042 for the term and under the conditions provided in the PPPFA; 
 WHEREAS, Grantor will realize
substantial direct and indirect benefits as a result of the arrangements memorialized in the PPPFA; 
 WHEREAS, Grantor owns the IP Assets,
including, without limitation, the Trademarks set forth on Exhibit 10-B to the PPPFA as of the date of such PPPFA and as updated from time to time in accordance with the terms thereof; and 

WHEREAS, the obligation of the Secured Party to enter into the PPPFA is subject to the condition, among others, that Grantor shall execute and
deliver this IP Security Agreement and grant the security interest hereinafter described; 
 NOW, THEREFORE, in consideration of the
willingness of the Secured Party to enter into the PPPFA and to agree, subject to the terms and conditions set forth therein, to temporarily forbear from 

 

	1 	[NTD: To be dated and effective as of the first date on which a Springing Lien Event occurs; this mechanism will be set forth in the document evidencing the escrow arrangement with the Custodian. Nothing in this IP
Security Agreement shall be effective until the occurrence of a Springing Lien Event and satisfaction of any IP Springing Lien Condition. This footnote will be deleted from the final document prior to same becoming effective.] 

 
initiating, under ERISA, certain involuntary termination proceedings with respect to the Plan, and for other good and valuable consideration, receipt of which is hereby acknowledged, it is hereby
agreed as follows: 
 1. Defined Terms. Unless otherwise defined herein, terms defined in the PPPFA and used herein shall have the
meanings given them in the PPPFA. Further, unless otherwise defined herein, terms defined in Articles 8 and 9 of the Uniform Commercial Code as enacted and in effect from time to time in the State of New York are used in this IP Security Agreement
as such terms are defined in such Article 8 or 9. “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided, however, that, at any time, if by reason of mandatory
provisions of law, any or all of the perfection or priority of the Secured Party’s security interest in any item or portion of the Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New
York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the provisions relating to such perfection or priority and for purposes of definitions relating to such
provisions. Unless otherwise expressly provided herein, for purposes of this IP Security Agreement, the rules of interpretation set forth in Section 1.02 of the PPPFA shall apply herein. 

2. Security Interest. As security for the due and punctual payment and performance of the Secured Obligations, Grantor hereby grants to
the Secured Party a security interest in and lien on all of Grantor’s right, title and interest in and to all Trademarks, all rights under contracts, agreements, authorizations, orders, licenses and franchises related to any Trademark, all
General Intangibles related to or arising from any Trademark, including, without limitation, the entire goodwill of or associated with the businesses now or hereafter conducted by Grantor connected with and symbolized by any of the Trademarks, and
all books and records related to the foregoing, in each case, whether now owned or existing or hereafter acquired or arising, together with any and all additions thereto and replacements therefor and Proceeds and products thereof (collectively
referred to as the “Collateral”), including without limitation, all accessions to, substitutions for and, replacements, Proceeds, Supporting Obligations and products of any of the foregoing and, to the extent not otherwise included,
all payments under insurance, or any indemnity, warranty or guaranty payable by reason of loss or damage or otherwise in respect of any of the foregoing. 

Notwithstanding anything to the contrary contained herein, the security interest granted under this IP Security Agreement shall not extend to
any trademark applications filed in the United States Patent and Trademark Office on the basis of Grantor’s “intent-to-use” such trademark, unless and until acceptable evidence of use of such trademark has been filed with and accepted
by the United States Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et seq.), to the extent that granting a Lien in such trademark application prior to such filing would adversely affect the
enforceability or validity of such trademark application. 
 As used herein, “Trademarks” shall mean all trademarks
(including service marks, unregistered trademarks, and licenses), federal and state trademark registrations and applications made by Grantor, common law trademarks and trade names owned by or assigned to Grantor, all registrations and applications
for the foregoing and all exclusive and nonexclusive licenses from third parties of the right to use trademarks of such third parties (including, without limitation, the registrations and applications listed on Exhibit 10-B to the PPPFA as of the
date of such PPPFA and as updated from time to time in accordance with the terms thereof), along with any and all (a) renewals thereof, (b) income, royalties, damages and payments now and hereafter due and/or payable with respect thereto, including,
without limitation, damages, claims and payments for past or future infringements thereof, (c) rights to sue for past, present and future infringements thereof, and (d) foreign trademarks, trademark registrations, and trade name applications for any
thereof and any other rights corresponding thereto throughout the world. 

  
 2 

 3. Secured Obligations. The security interest hereby granted shall secure the due and
punctual payment and performance of the PBGC UBL Claims (herein called the “Secured Obligations”). 
 4. Intentionally
Omitted. 
 5. Special Representations, Warranties and Covenants of Grantor. Grantor hereby represents and warrants as of the
date hereof or covenants, as applicable, to the Secured Party as follows: 
 (a) Except for the security interest created hereunder and as
otherwise not prohibited by the PPPFA, Grantor is the owner of the Collateral free and clear from any lien, charge, security interest or other encumbrance. Grantor shall defend the Collateral against all claims and demands of all Persons at any time
claiming the same or any interest therein, except as not prohibited by the PPPFA. 
 (b) Grantor has full power, authority and legal right
to execute, deliver and perform its obligations under this IP Security Agreement and to grant a security interest in all of the Collateral pursuant to this IP Security Agreement, and the execution, delivery and performance hereof and the granting
and enforcement (where applicable) of a security interest in the Collateral hereunder have been duly authorized by all necessary corporate or other action and do not contravene any law, rule or regulation or any provision of Grantor’s governing
documents, or of any judgment, decree or order of any tribunal or of any agreement or instrument to which Grantor is a party or by which it or any of its property is bound or affected or constitute a default. 

(c) Grantor shall not sell, convey or otherwise dispose of any Collateral or any interest therein and shall not create, incur or permit to
exist any lien, charge, security interest or other encumbrance whatsoever with respect to any Collateral or the Proceeds thereof, except as not prohibited by the PPPFA or otherwise consented to in writing by the Secured Party. 

(d) Grantor shall take all actions necessary or reasonably requested by the Secured Party to (i) maintain and pursue each application for
registered Trademarks now or hereafter pending, (ii) obtain the relevant registration with respect to Collateral material to the Grantor’s business or reasonably determined by Secured Party to be necessary or advisable in connection with
Secured Party’s rights under this Agreement or the other Transaction Documents, and (iii) maintain each registration with respect to any Collateral (now or hereafter existing), including the filing of applications for renewal, affidavits of
use, affidavits of noncontestability and opposition and interference and cancellation proceedings. Grantor shall at its sole expense pay promptly when due all taxes and assessments on the Collateral or for its use, except for any taxes and
assessments permitted to be contested as expressly provided in the PPPFA. Following the occurrence of an Event of Default, the Secured Party may at its option discharge any taxes, liens, security interests or other encumbrances to which any
Collateral is at any time subject (other than those expressly permitted by the PPPFA), and Grantor agrees to reimburse the Secured Party on demand for any payments or expenses incurred by the Secured Party pursuant to the foregoing authorization and
any unreimbursed amounts shall constitute Secured Obligations for all purposes hereof. 
 (e) No consent of any third party is required for
any transfer by Grantor to the Secured Party, or from the Secured Party to any third party of any Collateral following an Event of Default. 

  
 3 

 (f) Grantor shall promptly execute and deliver to the Secured Party, and hereby authorizes the
filing by the Secured Party of, such financing statements, certificates and other documents or instruments, with or without Grantor’s signature, as may be necessary to enable the Secured Party to perfect or from time to time renew the security
interest granted hereby, including, without limitation, such financing statements, certificates and other documents as may be necessary to perfect a security interest in any additional Collateral hereafter acquired by Grantor or in any replacements
or Proceeds thereof. Grantor hereby authorizes and appoints the Secured Party to execute, as applicable, and file such financing statements, certificates and other documents pertaining to the Secured Party’s security interest in the Collateral
in its stead, with full power of substitution, as Grantor’s attorney in fact. 
 (g) Grantor agrees that the Secured Party may, at any
time and from time to time file in any jurisdiction financing statements and amendments thereto that (1) indicate the Collateral (A) as the Pledged Collateral or words of similar effect, regardless of whether any particular asset falls within the
scope of Article 9 of the Uniform Commercial Code of such jurisdiction or (B) as being of an equal or lesser scope or with greater detail and (2) contain any other information required by Article 9 of the Uniform Commercial Code (including Part 5
thereof) for the sufficiency or filing office acceptance of such financing statement or amendment, including whether Grantor is an organization, the type of organization and any organization identification number issued to Grantor. Grantor agrees to
furnish any such information to Secured Party promptly upon request. 
 (h) Grantor agrees that it shall join with the Secured Party in
executing or authorizing and, at its own expense, shall file and refile, or permit the Secured Party to file and refile such financing statements, continuation statements and other documents (including, without limitation, this IP Security
Agreement), in such offices (including, without limitation, the United States Patent and Trademark Office and appropriate state trademark offices), as the Secured Party may reasonably deem necessary or appropriate in order to perfect and preserve
the rights and interests granted to the Secured Party hereunder. 
 (i) Grantor has made and shall continue to make all necessary filings
and recordations from time to time and has used and shall continue to use appropriate statutory notice to protect its interests in all Trademarks, including without limitation, appropriate recordation of its interests in all Trademarks in the United
States Patent and Trademark Office and in corresponding offices wherever it does business using such Trademarks throughout the world, in each case, to the extent consistent with prudent and reasonable business practices. Grantor shall properly
maintain and protect all registered Trademarks in accordance with applicable law. Grantor shall use all reasonable measures, whether by action, suit or proceeding or otherwise, to prevent the infringement, counterfeiting or other diminution in value
by others of such registered Trademarks and for that purpose Grantor agrees to diligently maintain any action, suit or proceeding against any Person so infringing as is reasonably necessary to prevent such infringement or as is reasonably necessary
to protect such registered Trademarks. Grantor shall not permit to lapse or become abandoned, settle or compromise any pending or future litigation or administrative proceeding with respect to any registered Trademark without the written consent of
the Secured Party, which shall not be unreasonably withheld, conditioned or delayed. Grantor shall, at least once each calendar quarter, provide written notice to the Secured Party of all applications for registration of Trademarks, to the extent
such applications exist, made during the previous calendar quarter. Grantor shall file and prosecute diligently all applications for registration of Trademarks now or hereafter pending that would be material to the business of Grantor to which any
such applications pertain, and to do all acts, in any such instance, necessary to preserve and maintain all rights in such applications and in all registered Trademarks material to its business. Any and all costs and expenses incurred in connection
with any such actions shall be borne solely by Grantor. Grantor shall not abandon any right to file a Trademark application or any pending Trademark application or any registered Trademark, in each case material to its business, without the prior
written consent of the Secured Party. 

  
 4 

 (j) Grantor shall, promptly following its becoming aware thereof, notify the Secured Party of (1)
any materially adverse determination in any proceeding in the United States Patent and Trademark Office with respect to any registered Trademark (or Trademark for which an application has been filed); and (2) any written claim received, the
institution of any proceeding or any materially adverse determination in any federal, state, local or foreign court or administrative body regarding Grantor’s claim of ownership in or right to use any registered Trademark (or Trademark for
which an application has been filed), its right to register any Trademark, or its right to keep and maintain such registration in full force and effect. 

(k) Grantor shall at any time and from time to time execute and deliver, or cause to be executed and delivered, such other agreements,
instruments, certificates and documents and take, or cause to be taken, such other actions as the Secured Party may reasonably request to insure the continued protection, perfection and priority of the Secured Party’s security interest in any
of the Collateral. 
 (l) If Grantor at any time holds or acquires a Commercial Tort Claim having a value in excess of $1,000,000 arising
with respect to a Trademark, Grantor shall promptly notify Secured Party in a writing signed by Grantor of the details thereof and grant to Secured Party in such writing a security interest therein and in the Proceeds thereof, all upon the terms of
this IP Security Agreement, with such writing to be in form and substance satisfactory to Secured Party. 
 6. Intentionally Omitted.

 7. Events of Default. As used herein, an “Event of Default” shall mean the occurrence of an event described in either of
clause (1) or clause (2) of Section 6.08(a) of the PPPFA. 
 8. Rights and Remedies of Secured Party. Upon the occurrence of any
Event of Default, the Secured Party shall have the following rights and remedies: 
 (a) All rights and remedies provided by law (including,
without limitation, those provided by the UCC) or in equity; 
 (b) All rights and remedies provided in this IP Security Agreement; and 

(c) All rights and remedies provided in the PPPFA, or in any other Transaction Document, agreement, document or instrument pertaining to the
Secured Obligations. 
 9. Royalty-Free License. If at any time the Secured Party has the right to dispose of any of the Collateral
that is subject to a Trademark that Grantor owns or controls through a license or otherwise, Grantor grants to the Secured Party a royalty-free license (to the extent such rights are assignable) to use any such Trademark, in addition to the grant of
any security interest granted to the Secured Party in such Trademark to dispose of any such Collateral. Such royalty-free license shall extend to any Person or Persons purchasing such Collateral from the Secured Party. 

10. Right of Secured Party to Dispose of Collateral, etc. Upon the occurrence of any Event of Default, but subject to the provisions of
the UCC or other applicable law, the Secured Party shall have the right to take possession of the Collateral and, in addition thereto, the right to enter upon any premises 

  
 5 

 
on which the Collateral or any part thereof may be situated and remove the same therefrom. The Secured Party may require Grantor to make the Collateral available to the Secured Party at a place
to be designated by the Secured Party or transfer any information related to the Collateral to the Secured Party by electronic medium. Unless the Collateral threatens to decline speedily in value or is of a type customarily sold on a recognized
market, the Secured Party shall give Grantor at least ten (10) days’ prior written notice in accordance with Section 19 hereof of the time and place of any public sale thereof or of the time after which any private sale or any other
intended disposition thereof is to be made. Any such notice shall be deemed to meet any requirement hereunder or under any applicable law (including the UCC) that reasonable notification be given of the time and place of such sale or other
disposition. The Secured Party may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered adversely to affect the commercial reasonableness of any sale of
the Collateral. 
 11. Right of Secured Party to Use and Operate Collateral, etc. Upon the occurrence of any Event of Default, but
subject to the provisions of the UCC or other applicable law, the Secured Party shall have the right and power to (a) take possession of all or any part of the Collateral, and to exclude Grantor and all Persons claiming under Grantor wholly or
partly therefrom, and thereafter to hold, use, manage and control the same and (b) grant a license to use, or cause to be granted a license to use, any or all of the Trademarks (along with the goodwill associated therewith, and in the case of
Trademark licenses, subject to the quality control provisions of the original licenses) or any part thereof, in each case free of all rights and claims of Grantor therein and thereto. Upon any such taking of possession, the Secured Party may, from
time to time, at the sole expense of Grantor, make all such replacements, alterations, and additions to and of the Collateral as the Secured Party may deem proper. In any such case the Secured Party shall have the right to manage and control the
Collateral and to carry on the business and to exercise all rights and powers of Grantor in respect thereto as the Secured Party may deem best, including the right to enter into any and all such agreements with respect to the operation of the
Collateral or any part thereof as the Secured Party may see fit; and the Secured Party shall be entitled to collect and receive all rents, issues, profits, fees, revenues and other income of the same and every part thereof. Such rents, issues,
profits, fees, revenues and other income shall be applied to pay the expenses of holding and using the Collateral and of conducting the business thereof, and of all replacements, alterations, and additions thereof, and to make all payments which the
Secured Party may be required or may reasonably elect to make, if any, for taxes, assessments, insurance and other charges upon the Collateral or any part thereof, and all other payments which the Secured Party may elect to make under any provision
of this IP Security Agreement (including legal costs and reasonable attorneys’ fees). The remainder of such rents, issues, profits, fees, revenues and other income shall be applied as provided in Section 13. 

12. Intentionally Omitted. 

13. Proceeds of Collateral. After deducting all costs and expenses of collection, custody, sale or other disposition and delivery
(including legal costs and reasonable attorneys’ fees) and all other charges against the Collateral, the residue of the proceeds of any such sale or disposition shall be applied to the payment of the Secured Obligations by the Secured Party in
accordance with the terms of the PPPFA and any surplus shall be returned to Grantor or otherwise to any other Person lawfully entitled thereto (including, if applicable, any subordinated creditors of Grantor). In the event the proceeds of any sale,
lease or other disposition of the Collateral hereunder are insufficient to pay all of the Secured Obligations in full, Grantor will be liable for the deficiency, together with interest thereon as provided in 29 C.F.R. § 4062.7, and the cost and
expenses of collection of such deficiency, including (to the fullest extent permitted by law), without limitation, reasonable attorneys’ fees, expenses and disbursements. 

  
 6 

 14. PPPFA, etc. Notwithstanding any other provision of this IP Security Agreement, the
rights of the parties hereunder are subject to the provisions of the PPPFA, including the provisions thereof pertaining to the rights and responsibilities of the Secured Party. In the event that any provision of this IP Security Agreement is in
conflict with the terms of the PPPFA, the PPPFA shall control. 
 15. Waivers, etc. Grantor hereby waives presentment, demand,
notice, protest and, except to any extent otherwise expressly provided herein or in the PPPFA, all other demands and notices in connection with this IP Security Agreement or the enforcement of the Secured Party’s rights hereunder or in
connection with any Secured Obligations or any Collateral; consents to and waives notice of the granting of renewals, extensions of time for payment or other indulgences to any account debtor in respect of any account receivable or to any other
third party, or substitution, release or surrender of any Collateral, the addition or release of Persons primarily or secondarily liable on any Secured Obligation or on any account receivable or other Collateral, the acceptance of partial payments
on any Secured Obligation or on any account receivable or other Collateral and/or the settlement or compromise thereof. No delay or omission on the part of the Secured Party in exercising any right hereunder will operate as a waiver of such right or
of any other right hereunder. Any waiver of any such right on any one occasion shall not be construed as a bar to or waiver of any such right on any future occasion. GRANTOR FURTHER WAIVES ANY RIGHT IT MAY HAVE UNDER THE LAWS OF THE STATE OF NEW
YORK, UNDER THE LAWS OF ANY STATE IN WHICH ANY OF THE COLLATERAL MAY BE LOCATED, OR UNDER THE LAWS OF THE UNITED STATES OF AMERICA, TO NOTICE (OTHER THAN ANY REQUIREMENT OF NOTICE EXPRESSLY PROVIDED HEREIN) OR TO A JUDICIAL HEARING PRIOR TO THE
EXERCISE OF ANY RIGHT OR REMEDY PROVIDED BY THIS IP SECURITY AGREEMENT TO THE SECURED PARTY AND WAIVES ITS RIGHTS, IF ANY, TO SET ASIDE OR INVALIDATE ANY SALE DULY CONSUMMATED IN ACCORDANCE WITH THE FOREGOING PROVISIONS HEREOF ON THE GROUNDS (IF
SUCH BE THE CASE) THAT THE SALE WAS CONSUMMATED WITHOUT A PRIOR JUDICIAL HEARING. Grantor’s waivers under this section have been made voluntarily, intelligently and knowingly and after Grantor has been apprised and counseled by its attorneys as
to the nature thereof and its possible alternative rights. 
 16. Termination; Assignment, etc. Upon the termination of the PPPFA,
this IP Security Agreement and the security interest in the Collateral created hereby shall terminate. In such event, the Secured Party agrees to execute such releases of liens on the Collateral as Grantor may reasonably request at Grantor’s
sole expense. No waiver by any Party of any default shall be effective unless in writing nor operate as a waiver of any other default or of the same default on a future occasion. In the event of a sale or assignment of part or all of the Secured
Obligations by the Secured Party, Secured Party may assign or transfer its rights and interest under this IP Security Agreement in whole or in part to the purchaser or purchasers of such Secured Obligations, whereupon such purchaser or purchasers
shall become vested with all of the powers and rights of the Secured Party hereunder. 
 17. Reinstatement. Notwithstanding the
provisions of Section 16, this IP Security Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any amount received by the Secured Party in respect of the Secured Obligations is rescinded or must
otherwise be restored or returned by the Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of any Sears Party or upon the appointment of any intervener or conservator of, or trustee or similar official for any
Sears Party or any substantial part of any of any Sears Party’s properties, or otherwise, all as though such payments had not been made. 

18. Governmental Approval. Prior to or, where permitted, upon the exercise by the Secured Party of any power, right, privilege or
remedy pursuant to this IP Security Agreement which requires any 

  
 7 

 
consent, approval, registration, qualification or authorization of any governmental authority or instrumentality, Grantor shall execute and deliver, or will cause the execution and delivery of,
all applications, certificates, instruments and other documents and papers that Grantor may be required to obtain for such governmental consent, approval, registration, qualification or authorization. Grantor authorizes and appoints the Secured
Party, to execute, as applicable, and file all such applications, certificates, instruments and other documents and papers in its stead, with full power of substitution, as Grantor’s attorney in fact. 

19. Notices. All notices, consents, approvals, elections and other communications hereunder shall be in writing (whether or not the
other provisions of this IP Security Agreement expressly so provide) and shall be deemed to have been duly given if delivered in accordance with the terms of the PPPFA. 

20. Intentionally Omitted. 

21. Amendment. No provision of this IP Security Agreement may be changed, modified, amended, restated, waived, supplemented,
discharged, canceled or terminated orally or by any course of dealing or in any other manner other than by a written agreement signed by the Secured Party and Grantor. Each Party acknowledges that it has been advised by counsel in connection with
the negotiation and execution of this IP Security Agreement and is not relying upon oral representations or statements inconsistent with the terms and provisions hereof. 

22. Entire Agreement. This IP Security Agreement, the PPPFA and the other Transaction Documents constitute the entire agreement between
Grantor and the Secured Party with respect to the subject matter hereof and thereof, and supersede all prior agreements and understandings, if any, relating to the subject matter hereof or thereof. Any promises, representations, warranties or
guarantees not herein or therein contained and hereinafter made shall have no force and effect unless in writing signed by the parties hereto. Each party hereto acknowledges that it has been advised by counsel in connection with the negotiation and
execution of this IP Security Agreement and is not relying upon oral representations or statements inconsistent with the terms and provisions hereof. 

23. Miscellaneous. This IP Security Agreement shall inure to the benefit of and be binding upon the Parties and their respective
successors and assigns, provided that Grantor shall not assign any of its rights or obligations hereunder without the prior written consent of the Secured Party. The term “Secured Party” shall be deemed to include any other holder
or holders of any of the Secured Obligations. In case any provision in this IP Security Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby. This IP Security Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which shall be an original, but all of which together shall constitute one instrument.
Delivery of an executed signature page to this IP Security Agreement or any document or instrument delivered in connection herewith by facsimile transmission or other customary means of electronic transmission, including by PDF file, shall be as
effective as delivery of a manually signed counterpart of this IP Security Agreement or such other document or instrument, as applicable. 

24. Governing Law; Jurisdiction; Waiver of Jury Trial. This IP Security Agreement, including the validity hereof and the rights and
obligations of the parties hereunder, shall be construed in accordance with and governed by the laws of the State of New York (without regard to its conflicts of laws rules). Each Party, to the fullest extent that it permitted by law, hereby
consents to service of process in, and to the exclusive jurisdiction of, any state or federal court located in the State of New York, 

  
 8 

 
as well as to the jurisdiction of all courts to which an appeal may be taken from such court, for the purpose of any suit, action or other proceeding arising out of any of its obligations
hereunder or with respect to the transactions contemplated hereby, and expressly waives any and all objections it may have as to venue in any such courts. Each Party further agrees that a summons and complaint commencing an action or proceeding in
any such court shall be properly served and shall confer personal jurisdiction if served personally or by certified mail to it in accordance with Section 19 hereof or as otherwise provided under the laws of the State of New York. TO THE
FULLEST EXTENT PERMITTED BY LAW, EACH PARTY IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY SUIT, ACTION OR OTHER PROCEEDING INSTITUTED BY OR AGAINST IT IN RESPECT OF ITS OBLIGATIONS HEREUNDER OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
 9 

 IN WITNESS WHEREOF, the Parties have executed this IP Security Agreement as a sealed instrument
as of the date first above written. 
  

					
	GRANTOR:
	
	KCD IP, LLC
		
	 By:
	 	 /s/ Robert A. Riecker

		 	 Name:
	 	 Robert A. Riecker

		 	 Title:
	 	 Vice President

  
 [Signature Page to
Security Agreement] 

 
					
	SECURED PARTY:
	
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Morris

		 	Name:	 	Karen L. Morris
		 	Title:	 	Acting CNR

  
 [Signature Page to
Security Agreement] 

 EXECUTION VERSION 

TRADEMARK SECURITY AGREEMENT 

THIS TRADEMARK SECURITY AGREEMENT (this “Trademark Security Agreement”), dated as of
[                 ,         ]1, between KCD IP, LLC, a Delaware limited
liability company (“Grantor”), and PENSION BENEFIT GUARANTY CORPORATION (“Grantee”). 
 W I T N E S S E T
H: 
 WHEREAS, Sears Holdings Corporation, a Delaware corporation, the other Sears Parties including Grantor, and Grantee have entered into
that certain Pension Plan Protection and Forbearance Agreement, dated as of March 18, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”), and in connection therewith, pursuant to that
certain Security Agreement dated as of the date hereof, (as amended, restated, supplemented or otherwise modified from time to time, the “IP Security Agreement”), by and between Grantor and Grantee, Grantor granted to Grantee a
security interest and continuing lien on all of Grantor’s right, title and interest in, to and under the Trademark Collateral (as defined below), and all Collateral in each case whether now owned or existing or hereafter acquired or arising to
secure the prompt and complete payment and performance of the Secured Obligations; and 
 WHEREAS, Grantor has duly authorized the
execution, delivery and performance of this Trademark Security Agreement. 
 NOW, THEREFORE, in consideration of the premises and the
agreements, provisions and covenants herein contained, Grantor agrees as follows: 
  

	 	Section 1.	Defined Terms 

 Unless otherwise defined herein, each term defined in this
Trademark Security Agreement and used herein has the meaning given to it in the IP Security Agreement. 
  

	 	Section 2.	Grant of Security Interest in Trademarks 

 Grantor hereby grants to Grantee a
security interest in all of Grantor’s right, title and interest in, to and under all presently owned or hereafter-acquired Trademarks, including the Trademarks listed in Schedule A (all of the foregoing, collectively, the “Trademark
Collateral”). 
  

	 	Section 3.	Security for Obligations 

 This Trademark Security Agreement secures, and the
Trademark Collateral is collateral security for, the due and punctual payment and performance of the Secured Obligations. 
  

	 	Section 4.	IP Security Agreement 

 The security interests granted pursuant to this Trademark
Security Agreement are granted in conjunction with the security interests granted to Grantee pursuant to the IP Security Agreement, and 

 

	1 	NTD: To be dated and effective as of the date on which a Springing Lien Event occurs; this mechanism will be set forth in the document evidencing the escrow agreement with the Custodian. Nothing in this IP Security
Agreement shall be effective until the occurrence of a Springing Lien Event and satisfaction of any IP Springing Lien Condition. This Footnote will be deleted from the final document prior to the same becoming effective. 

 
Grantor hereby acknowledges and affirms that Grantee’s rights and remedies with respect to the security interests in the Trademark Collateral made and granted hereby are more fully set forth
in the IP Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In addition to Grantor’s representations, warranties and covenants in Section 5 of the IP Security Agreement (or
incorporated therein) so incorporated herein, Grantor further represents and warrants to Grantee that all of the Trademarks listed in Schedule A constitute Collateral covered by such representations, warranties and covenants. In the event of
any irreconcilable conflict between the terms of this Trademark Security Agreement and the terms of the IP Security Agreement, the terms of the IP Security Agreement shall control. 

 

	 	Section 5.	Recordation and Further Acts 

 Grantor hereby authorizes and requests that the
Commissioner for Trademarks and any other applicable United States government officer record this Trademark Security Agreement. 
  

	 	Section 6.	Miscellaneous 

 This Trademark Security Agreement shall be governed by, and
construed in accordance with the laws of the State of New York (without regard to its conflicts of laws rules). 
 This Trademark Security
Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single agreement. Delivery of an executed
signature page to this Trademark Security Agreement or any document or instrument delivered in connection herewith by facsimile transmission or other customary means of electronic transmission, including by PDF file, shall be as effective as
delivery of a manually signed counterpart of this Trademark Security Agreement or such other document or instrument, as applicable. 

[Remainder of this page intentionally left blank] 

  
 2 

 IN WITNESS WHEREOF, each party has caused this Trademark Security Agreement to be duly executed
and delivered by its duly authorized officer as of the date first set forth above. 
  

					
	GRANTOR:
	
	KCD IP, LLC
		
	By:	 	 /s/ Robert A. Riecker

		 	Name:	 	Robert A. Riecker
		 	Title:	 	Vice President
	
	GRANTEE:
	
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Trademark Security Agreement] 

 IN WITNESS WHEREOF, each party has caused this Trademark Security Agreement to be duly executed
and delivered by its authorized officer as of the date first set forth above. 
  

			
	GRANTOR:
	
	KCD IP, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
	GRANTEE:
	
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Moris

		 	Name:	 	Karen L. Moris
		 	Title:	 	Acting CNR

  
 [Signature Page to
Trademark Security Agreement] 

 SCHEDULE A 

TO 
 TRADEMARK SECURITY
AGREEMENT 
 [Exhibit 10-B to PPPFA, as updated as of the date of a Springing Lien Event and satisfaction of the IP Springing Lien
Conditions, to be attached] 
 UNITED STATES REGISTERED TRADEMARKS 

 

							
	 Trademark
	  	 Registration Number
	  	 Owner
	  	 Status

		  		  		  	
		  		  		  	

 Exhibit 21 

Subordination Agreement 

[See Attached] 

 EXECUTION VERSION 

SUBORDINATION AGREEMENT 

This Subordination Agreement (this “Agreement”), dated as of March 18, 2016, is entered into among (i) each Person identified
on the signature pages hereto as a “Subordinated Debtor” (collectively, the “Subordinated Debtors”), (ii) each Person identified on the signature pages hereto as a “Subordinated Creditor” (collectively with each
other Person that becomes a Party hereto pursuant to Sections 3(c) or 3(d) below, the “Subordinated Creditors”), and (iii) the PENSION BENEFIT GUARANTY CORPORATION (the “PBGC”, and collectively with the
Subordinated Debtors and the Subordinated Creditors, the “Parties”). 
 WHEREAS, PBGC is a wholly owned United States
government corporation and agency established under 29 U.S.C. § 1302 to administer the Plan termination insurance program created under Title IV of the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1301-1461 (2012,
Supp. II 2014) (as amended from time to time, together with the regulations thereunder as amended from time to time, “ERISA”); 

WHEREAS, Sears Holdings Corporation, a Delaware corporation (the “Company”) is the plan sponsor (as such term is defined in
ERISA Section 3(16)(B)) of the Sears Holdings Pension Plan, as amended and restated effective January 1, 2014 (the “Plan”); 

WHEREAS, the Company is the ultimate corporate parent of each of the other Subordinated Creditors and each of the Subordinated Debtors, and
each of the Subordinated Creditors and Subordinated Debtors is a member of the Company’s “controlled group,” as such term is defined in ERISA Section 4001(a)(14) (the “Controlled Group”); 

WHEREAS, PBGC, the Company, the Subordinated Debtors and certain of the Subordinated Creditors have entered into that certain Pension Plan
Protection and Forbearance Agreement dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”), pursuant to which the Sears Parties (as such term is defined in the PPPFA,
as defined below) have offered to provide to, and to cause to be provided to, PBGC certain enhanced protections in exchange for PBGC’s agreement to forbear from initiating termination proceedings with respect to the Plan pursuant to ERISA
Section 4042 for the term and under the conditions provided in the PPPFA; 
 WHEREAS, each Subordinated Debtor is, and/or may become,
indebted or otherwise obligated to one or more Subordinated Creditors (all such indebtedness and other present and future obligations of any kind whatsoever, whether created directly or acquired by assignment or arising as a matter of law or
otherwise, including any and all “debt” within the meaning of 11 U.S.C. § 101(12) and any and all interest, premiums and fees with respect to any of the foregoing and other amounts payable in respect thereof and all rights and
remedies of the Subordinated Creditors with respect thereto (except (i) the obligations of IP Subsidiary pursuant to the IP Notes and the IP Notes Indenture, and (ii) the obligations of the RE Subsidiaries and/or the Depositor under the REMIC
Transactional Documents (the obligations set forth in clauses (i) and (ii), the “Excluded Obligations”)), the “Subordinated Debt”); 

WHEREAS, each of the Subordinated Debtors and the Subordinated Creditors (a) is required, pursuant to Section 9.02(m) of the PPPFA to
execute and deliver this Agreement, and (b) will realize, as a member of the Controlled Group, substantial direct and indirect benefits as a result of the arrangements memorialized in the PPPFA. 

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties hereby agree as follows: 
 1. Definitions; Construction. 

(a) Capitalized terms used but not defined in this Agreement shall have the meanings provided for such terms in the PPPFA. As used in this
Agreement, the following terms shall have the meanings specified below: 
 “Agreement” is defined in the preamble. 

“Bankruptcy Event” shall mean either an Involuntary Bankruptcy Event or a Voluntary Bankruptcy Event. 

“Discharge of Obligations” shall mean the earlier of (i) subject to Section 8(b) hereof, payment in full of all
Obligations and (ii) termination of the PPPFA in accordance with Section 8.01 thereof. 
 “Excluded Creditors” shall
mean NPK Development I, LLC, Manage My Home Inc., Sears International (Barbados), Inc. and Sears World Trade Commercial Limitada. 

“Involuntary Bankruptcy Event” shall have the meaning set forth in Section 1.01 of the PPPFA, except that for purposes
hereof, the term “Subsidiaries” is hereby substituted for the term “Material Subsidiaries” set forth in such definition. 

“Obligations” shall mean the PBGC UBL Claims. 

“PPPFA” is defined in the fourth recital to this Agreement. 

“Sears Re” shall mean Sears Reinsurance Company Ltd., a Bermuda Class 3 Insurer. 

“Subordinated Debt” is defined in the fifth recital to this Agreement. 

“Subsidiary” shall have the meaning set forth in Section 1.01 of the PPPFA. 

“Voluntary Bankruptcy Event” shall have the meaning set forth in Section 1.01 of the PPPFA, except that for purposes
hereof, the term “Subsidiaries” is hereby substituted for the term “Material Subsidiaries” set forth in such definition. 

(b) In this Agreement, unless specifically otherwise provided or the context otherwise requires, the singular includes the plural and the
plural the singular; the word “or” is deemed to include “and/or”; the words “including”, “includes” and “include” are deemed to be followed by the words “without limitation”; pronouns in
masculine, feminine, or neuter genders include any other gender; and references to sections, schedules or exhibits are to those of this Agreement. The words “herein,” “hereof,” “hereby,” “hereunder,”
“herewith,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. Headings and captions in this Agreement are included for convenience of reference only and do not
constitute a part of this Agreement for any other purpose. A reference to any statute is deemed also to refer to all rules and regulations promulgated under the statute, unless the context requires otherwise. 

2. Agreement to Subordinate. 

(a) Each of the Subordinated Debtors and Subordinated Creditors agrees that the Subordinated Debt is and shall be subject, subordinate and
rendered junior, to the extent and in the manner hereinafter set forth, in right of payment, to the prior indefeasible payment in full of all 

  
 2 

 
Obligations now existing or hereafter arising until the Discharge of Obligations. To the fullest extent permitted by applicable law, each of the Subordinated Debtors and the Subordinated
Creditors waives (1) notice of acceptance of this Agreement by PBGC, and (2) except to any extent that any such action is inconsistent with the express terms of any Transaction Document, notice of and consent to the making, amount and terms of the
Obligations which may exist or be created from time to time and any renewal, extension, amendment or modification thereof, and any other lawful action which PBGC in its sole and absolute discretion may take or omit to take with respect thereto. 

(b) After the occurrence of any Springing Lien Event, without the prior written consent of PBGC, no Subordinated Debtor may pay or make, and
no Subordinated Creditor may accept or receive, any payment in respect of the Subordinated Debt, and no Subordinated Creditor may take or permit to be taken, any action to assert, collect or enforce the Subordinated Debt or any part thereof,
including (1) regularly scheduled payments of principal and interest on the Subordinated Debt and (2) prepayments (whether of principal, interest or otherwise) on the Subordinated Debt. For purposes of this Agreement, “payment” in respect
of any Subordinated Debt shall include any payment or distribution from any source, whether in cash, property or securities, by set-off or otherwise, and whether in respect of principal, premium, interest or otherwise, including in connection with
any redemption or purchase of such Subordinated Debt or any recovery on any claim for rescission or damages. 
 (c) In the event that any
Subordinated Debtor makes, and/or any Subordinated Creditor receives, any payment, whether in cash, property, securities or otherwise upon or with respect to Subordinated Debt in contravention of this Agreement, then in such event such payment shall
be deemed to be the property of, and segregated, received and held in trust for the benefit of, PBGC, and shall be promptly paid over and delivered to PBGC in the same form as so received (with any necessary indorsement), to be applied to the
Obligations, except as otherwise provided in the immediately following sentence. If, on the date of such payment over and delivery to PBGC, the PBGC UBL Claims are contingent, unliquidated, and/or unmatured, then such payment shall be treated in the
same manner as Foreclosure proceeds under Section 6.08(b) of the PPPFA. 
 (d) Notwithstanding anything in this Agreement to the
contrary, nothing in this Agreement shall affect in any way (as to priority of payment or otherwise) the rights and obligations of any Subordinated Debtor or Subordinated Creditor with respect to the Excluded Obligations. 

3. In Furtherance of Subordination. 

(a) Upon any distribution of all or any of the assets of any Subordinated Debtor in the event of any Bankruptcy Event of such Subordinated
Debtor, PBGC shall be entitled to the Discharge of Obligations (whether or not the Obligations have become due and payable, by acceleration or otherwise) before any Subordinated Creditor or other Person claiming through or on its behalf (including
any receiver, trustee, or otherwise) is entitled to receive any payment on account of principal of (or premium, if any) or interest on or other amounts payable in respect of the Subordinated Debt, and to that end, any payment or distribution of any
kind or character, whether in cash, property, securities or otherwise, which may be payable or deliverable in respect of the Subordinated Debt in any such Bankruptcy Event, shall be paid or delivered directly to PBGC for treatment in the applicable
manner provided in Section 2(c) above until the Discharge of Obligations. 
 (b) If any Bankruptcy Event is commenced by or with
respect to any Subordinated Debtor or all or any of its property, then during the continuance of such Bankruptcy Event: 
 (1) PBGC is
hereby irrevocably authorized and empowered (in its own name, in the name of any Subordinated Creditor holding Subordinated Debt of such Subordinated Debtor, or otherwise), but shall have no obligation, to demand, sue for, collect and receive every
payment or 

  
 3 

 
distribution upon or with respect to or on account of such Subordinated Creditor and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting
such Subordinated Debt or enforcing any security interest or other lien securing payment of such Subordinated Debt) as PBGC may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of PBGC hereunder, and 

(2) each Subordinated Creditor holding Subordinated Debt of such Subordinated Debtor shall duly and promptly take such action as PBGC may
reasonably request (A) to collect such Subordinated Debt for the account of PBGC and to file appropriate claims or proofs of claim in respect of such Subordinated Debt, (B) to execute and deliver to PBGC such powers of attorney, assignments, or
other instruments to enable PBGC to enforce any and all claims with respect to, and any security interests and other liens securing payment of, such Subordinated Debt and (C) to collect and receive any and all payments or distributions which may be
payable or deliverable upon or with respect to or on account of such Subordinated Debt. 
 Each Subordinated Creditor agrees that it shall
not accept any security from any Subordinated Debtor in respect of Subordinated Debt until the Discharge of Obligations has occurred. 
 (c)
Each Subordinated Creditor and each Subordinated Debtor shall cause any Person that becomes a member of the Company’s Controlled Group (other than Sears Re, except to the extent that Sears Re would be required pursuant to
Section 2.02(k) or Section 3.08 of the PPPFA to become a party to this Agreement, and the Excluded Creditors, except to the extent that any Excluded Creditor would be required pursuant to Section 21 of this Agreement
to become a party to this Agreement) on or after the Closing Date to, no later than ten (10) Business Days after such event, execute a Joinder substantially in the form attached hereto as Exhibit A, so as to become an additional
Subordinated Creditor hereunder with respect to all present or future indebtedness or other obligations of any kind whatsoever owed to such Person by any Subordinated Debtor (other than any Excluded Obligation), whether created directly or acquired
by assignment or arising as a matter of law or otherwise, including any and all “debt” within the meaning of 11 U.S.C. § 101(12) and any and all interest, premiums and fees with respect to any of the foregoing and other amounts
payable in respect thereof and all rights and remedies of such Person with respect thereto. All such indebtedness and other obligations shall be treated as Subordinated Debt for all purposes of this Agreement. 

(d) Each Subordinated Creditor and each Subordinated Debtor shall cause any subsequent holder of Subordinated Debt, simultaneously with or
prior to becoming a holder, to subordinate such Subordinated Debt to the Obligations on substantially the same terms and conditions set forth in this Agreement by executing a Joinder substantially in the form attached hereto as
Exhibit A. 
 (e) PBGC is hereby authorized to demand specific performance of this Agreement. Each Subordinated Creditor and
each Subordinated Debtor hereby irrevocably waives any defense (other than the defense of payment or performance) based on the adequacy of a remedy at law which might be asserted as a bar to such remedy of specific performance. 

4. No Enforcement or Commencement of Any Proceedings. Each Subordinated Creditor agrees that prior to the Discharge of Obligations, it
shall not accelerate the maturity of the Subordinated Debt held by it or take any action or commence any proceeding to enforce or collect same, or commence or join with any creditor other than PBGC in commencing any Bankruptcy Event with respect to
any Subordinated Debtor obligated on such Subordinated Debt. 
 5. Rights of Subordination. Each Subordinated Creditor agrees with
respect to the Subordinated Debt held by it that no payment or distribution to PBGC pursuant to the provisions of this Agreement will entitle such Subordinated Creditor to exercise any rights of subrogation in respect thereof

  
 4 

 
until the Discharge of Obligations. Each such Subordinated Creditor agrees that the subordination provisions contained herein shall not be affected by any action, or failure to act, by PBGC which
results, or may result, in affecting, impairing or extinguishing any right of reimbursement or subrogation or other right or remedy of such Subordinated Creditor against the applicable Subordinated Debtor obligated on such Subordinated Debt. 

6. [Reserved.] 
 7.
Agreement by Subordinated Debtors. Each Subordinated Debtor agrees with respect to the Subordinated Debt as to which it is an obligor that it shall not make any payment on any such Subordinated Debt, or take any other action, in contravention
of the provisions of this Agreement. 
 8. Obligations Hereunder Not Affected. 

(a) All rights and interests of PBGC hereunder, and all agreements and obligations of the Subordinated Creditors and the Subordinated Debtors
hereunder, shall to the fullest extent permitted by applicable law remain in full force and effect and be absolute and unconditional, irrespective of: 

(1) any lack of validity or enforceability of the PPPFA, this Agreement, any PBGC Perfection Document or any other Transaction Document, 

(2) any change in the time, manner or place of payment of, or any other term of, all or any of the Obligations, or any other amendment or
waiver of or any consent to departure from the PPPFA, this Agreement, any PBGC Perfection Document or any other Transaction Document, 

(3) any exchange, release or non-perfection of any collateral, or any release or amendment or waiver of or consent to departure from any
provision of the PPPFA, this Agreement, any PBGC Perfection Document or any other Transaction Document, for all or any of the Obligations, 

(4) any failure of PBGC to assert any claim or to enforce any right or remedy against any other party hereto under the provisions of this
Agreement, the PPPFA, any PBGC Perfection Document or any other Transaction Document, 
 (5) any reduction, limitation, impairment or
termination of the Obligations for any reason, including any claim of waiver, release, surrender, alteration or compromise, and no such rights or interests will be subject to (and each of the Subordinated Debtors and Subordinated Creditors hereby
waives any right to or claim of) any defense (other than the defense of a Discharge of Obligations) or setoff, counterclaim, recoupment or termination whatsoever by reason of invalidity, illegality, nongenuineness, irregularity, compromise,
unenforceability of, or any other event or occurrence affecting any Obligations, or 
 (6) any other circumstance which might otherwise
constitute a defense (other than the defense of a Discharge of Obligations), setoff or counterclaim available to, or a discharge of, the Subordinated Debtors in respect of the Obligations or the Subordinated Creditors in respect of this Agreement;

 provided, that, notwithstanding any provision in this Agreement to the contrary, all Parties reserve all rights regarding the determination of
UBL, or any determination made on a Termination Basis, including, without limitation, the applicability, validity, interpretation and application of PBGC regulations relating thereto and nothing in this Agreement shall prevent any Party from
exercising any such rights. 

  
 5 

 (b) This Agreement shall continue to be effective or be reinstated, as the case may be, if at any
time any payment of any of the Obligations is rescinded or must otherwise be returned by PBGC upon any Bankruptcy Event or otherwise, all as though such payment had not been made. Each Subordinated Creditor acknowledges and agrees with respect to
Subordinated Debt held by it that PBGC may, in accordance with the terms of the PPPFA, to the fullest extent permitted by applicable law without notice or demand and without affecting or impairing such Subordinated Creditor’s obligations
hereunder, from time to time (1) renew, compromise, extend, increase, accelerate or otherwise change the time for payment of, or otherwise change the terms of the Obligations or any part thereof, including to increase or decrease the rate of
interest thereon or the principal amount thereof; (2) take or hold security for the payment of the Obligations and exchange, enforce, foreclose upon, waive and release any such security; (3) apply such security and direct the order or manner of sale
thereof as PBGC in its sole discretion, may determine; (4) release and substitute one or more endorsers, warrantors, borrowers or other obligors; and (5) exercise or refrain from exercising any rights against any Subordinated Debtor obligated on
such Subordinated Debt or any other Person. 
 9. Amendments, Waivers. Subject to Section 11 below, no amendment or waiver of
any provision of this Agreement, nor any consent or departure by any Party herefrom, will in any event be effective unless the same is in writing and signed by each Party and then such waiver, amendment, or consent shall be effective only in the
specific instance and for the specific purpose for which given. 
 10. Representations and Warranties of the Subordinated Parties.
Each Party hereby represents and warrants to each other Party that (1) such Party has the legal power and right to execute, deliver and perform its obligations under this Agreement, (2) the execution, delivery and performance of this Agreement by
such Party have been duly and validly authorized by all requisite authorizing action, corporate, membership, partnership or otherwise, on the part of such Party, and (3) this Agreement and the transactions contemplated by this Agreement constitute
legal, valid and binding obligations of such Party, enforceable against each such Party in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, moratorium or other similar laws affecting
creditors’ rights generally and by general principals of equity (regardless of whether enforceability is considered in a proceeding in equity or at law). 

11. Additional Subordinated Creditors. The Parties acknowledge that new or additional Persons may become Subordinated Creditors
hereunder pursuant to Sections 3(c) or 3(d) above. The execution. delivery, and effectiveness of any such Joinder, subordination agreement or other agreement or instrument in connection therewith shall not require the consent of any
other Subordinated Creditor, Subordinated Debtor, or PBGC. The rights and obligations of each Party shall remain in full force and effect notwithstanding any such execution and delivery. 

12. Address for Notices. All communications and notices hereunder shall be in writing and given as provided in
Section 11.01 of the PPPFA. For purposes of the immediately preceding sentence only, references in such section to “Sears Party” shall be construed as references to any Subordinated Creditor or Subordinated Debtor and
references in such section to “Sears Parties” shall be construed as references to the Subordinated Creditors and Subordinated Debtors. 

13. Entire Agreement; Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. This Agreement, the PPPFA (inclusive of all Exhibits thereto) and the other Transaction Documents represent the entire agreement of the Parties with respect to the subject matter hereof and
thereof, and there are no promises, undertakings, representations or warranties by PBGC relative to the subject matter hereof not expressly set forth or referred to herein or therein. 

  
 6 

 14. Cumulative Rights. No failure to exercise and no delay in exercising, on the part of
PBGC, any right, remedy, power or privilege hereunder, under the other Transaction Documents, or at law or in equity, will operate as a waiver thereof. Nor will any single or partial exercise by PBGC of any such right, remedy, power or privilege
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. PBGC’s rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and
privileges provided under the other Transaction Documents, by law, or in equity. The Subordinated Debtors and the Subordinated Creditors expressly acknowledge and agree that PBGC has entered into the PPPFA and agreed, on the terms and conditions
provided therein, to forbear from initiating certain involuntary termination proceedings with respect to the Plan in reliance on the execution and delivery of this Agreement. 

15. Continuing Agreement. This Agreement is a continuing agreement of subordination and shall (a) remain in full force and effect until
the Discharge of Obligations, (b) be binding upon the Subordinated Creditors, Subordinated Debtors and their respective successors, transferees and assigns, and (c) inure to the benefit of and be enforceable by PBGC and its successors, transferees
and assigns. The Parties acknowledge that this Agreement is a “subordination agreement” under section 510(a) of the Bankruptcy Code, which will be effective before, during and after the commencement of any Bankruptcy Event. All references
in this Agreement to any Subordinated Debtor will include such Person as a debtor in possession and any receiver or trustee for such Person in an Bankruptcy Event. 

16. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (EXCLUDING ANY CONFLICTS-OF-LAW RULE OR PRINCIPLE THAT MIGHT REFER SAME TO THE LAWS OF ANOTHER JURISDICTION). 

17. Forum Selection and Consent to Jurisdiction. 

(a) Each Party hereby irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of the United States District
Court for the Southern District of New York and any appellate courts therefrom, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment (any of the foregoing, an
“Action”), and each of the Parties hereby irrevocably and unconditionally agrees, to the extent permitted by applicable law, that all claims in respect of any Action shall be heard and determined exclusively in such trial court and
any appellate court therefrom. Each such Party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law or in equity. 

(b) Each Party hereby irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any objection which it may
now or hereafter have to the laying of venue of any Action in any court referred to in or permitted under Section 17(a) above. Each Party hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an
inconvenient forum to the maintenance of such Action in any such court. 
 (c) Each Party irrevocably consents, to the fullest extent
permitted by applicable law, to service of process in any Action in the manner provided for notices in Section 12 hereof. Nothing in this Agreement will affect the right of any Party to serve process in any other manner permitted by
applicable law. In furtherance of the foregoing, and not in limitation thereof, each Subordinated Creditor and each Subordinated Debtor hereby irrevocably designates, appoints and empowers the Company, with offices on the date hereof at the
Company’s address set forth in Section 11.01 of the PPPFA, as its 

  
 7 

 
designee, appointee and agent with respect to any Action to receive, accept and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons,
notices and documents which may be served in any such Action, and each Subordinated Creditor and each Subordinated Debtor hereby confirms and agrees that the Company has been duly and irrevocably appointed as its agent and true and lawful attorney
in fact in its name, place and stead to accept such service of any and all legal process, summons, notices and documents, and agrees that the failure of such agent to give any advice of any such service of process to such Subordinated Creditor or
Subordinated Debtor will not impair or affect the validity of such service or of any judgment based thereon. If for any reason such designee, appointee and agent ceases to be available to act as such, each Party agrees to designate in writing to
PBGC immediately upon such cessation a new designee, appointee and agent domiciled within a state of the United States of America or the District of Columbia. 

18. WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN ANY ACTION. 
 19. Execution in Counterparts. This Agreement may be executed by one or more of the Parties
on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page to this Agreement or any document or instrument delivered in
connection herewith by facsimile transmission or other customary means of electronic transmission, including by PDF file, shall be as effective as delivery of a manually signed counterpart of this Agreement or such other document or instrument, as
applicable. 
 20. Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and
delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the SRC Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and
agreements herein made on the part of the SRC Trust or any other Subordinated Debtor is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose
of binding only the SRC Trust or such Subordinated Debtor, (c) nothing herein contained shall be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or
implied contained herein, all such liability, if any, being expressly waived by the parties hereto, (d) U.S. Bank Trust National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by
the SRC Trust or any other Subordinated Debtor in this Agreement and (e) under no circumstances shall U.S. Bank Trust National Association be personally liable for the payment of any indebtedness or expenses of the SRC Trust or any other
Subordinated Debtor or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the SRC Trust or any other Subordinated Debtor under this Agreement or any other related document. 

21. Excluded Creditors. The Company represents and warrants to PBGC that, as of the date hereof, each Excluded Creditor (other than NPK
Development I, LLC) is a non-operational, inactive entity without directors or officers. Each Subordinated Debtor and Subordinated Creditor represents and warrants to PBGC that, as of the date hereof, no Subordinated Debtor has any obligations of
any kind (other than ordinary course obligations in an aggregate amount not in excess of $100,000) to any Excluded Creditor. Concurrently with or prior to any Subordinated Debtor incurring any obligations (other than ordinary course obligations in
an aggregate amount not in excess of $100,000) to any Excluded Creditor, each Subordinated Debtor and each Subordinated Creditor shall cause the applicable Excluded Creditor to become a party to this Agreement as a Subordinated Creditor. 

  
 8 

 [Signature pages follow.] 

  
 9 

 
			
	PBGC:
	
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Morris

	Name:	 	Karen L. Morris
	Title:	 	Acting CNR

  
 [Subordination
Agreement] 

 This Agreement is executed as a sealed instrument as of the day and year first above written.

  

							
	SUBORDINATED DEBTORS:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity, but solely as SUBI Trustee
			
		 	By:	 	 /s/ Melissa A. Rosal

		 		 	Melissa A. Rosal
		 		 	Vice President
	
	SHC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company
		
	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
			
		 	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as SUBI Trustee
				
		 		 	By:	 	 /s/ Melissa A. Rosal

		 		 		 	Melissa A. Rosal
		 		 		 	Vice President
	
	 SRC REAL ESTATE (TX), LP,

a Delaware limited partnership

		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC,
a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as SUBI Trustee
				
		 		 	By:	 	 /s/ Melissa A. Rosal

		 		 		 	Melissa A. Rosal
		 		 		 	Vice President

  
 9 

 
			
	SUBORDINATED DEBTORS:
	
	 SRC DEPOSITOR CORPORATION,

a Delaware corporation

		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President
	
	SRC O.P. CORPORATION,
	a Delaware corporation
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President
	
	KCD IP, LLC,
	a Delaware limited liability company
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President

  
 10 

 
			
	SUBORDINATED CREDITORS:
	
	 A&E Factory Service, LLC

A&E Home Delivery, LLC
 A&E Lawn & Garden,
LLC
 A&E Signature Service, LLC
 Big Beaver
Development Corporation
 Big Beaver of Florida Development, LLC

BlueLight.com, Inc.
 California Builder Appliances,
Inc.
 FBA Holdings Inc.
 Florida Builder
Appliances, Inc.
 Innovel Solutions, Inc.
 KBL
Holding Inc.
 Kmart International Services, Inc.

Kmart Overseas Corporation
 MaxServ, Inc.

Media Momentum, Inc.
 MetaScale LLC

Private Brands, Ltd.
 S.F.P.R., Inc.

Sears Authorized Independent Auto Centers LLC
 Sears
Brands Business Unit Corporation
 Sears Brands Management Corporation

Sears Brands, L.L.C.
 Sears Buying Services,
Inc.
 Sears Canada Holdings Corp.
 Sears DC
Corp.
 Sears Development Co.
 Sears Financial
Holding Corporation
 Sears Global Technology Services LLC

Sears Grand, LLC
 Sears Home Improvement Products,
Inc.
 Sears Insurance Services, L.L.C.
 Sears
International Holdings Corp.
 Sears Investment Management Co.

Sears Mexico Holdings Corp.
 Sears Protection
Company
 Sears Protection Company (Florida), L.L.C.

Sears Protection Company (PR), Inc.
 Sears Roebuck
Acceptance Corp.
 Sears Shop at Home Services, Inc.

Sears, Roebuck de Puerto Rico, Inc.
 Searsvale
Acquisition LLC
 Seritage Realty Trust I LLC

Seritage Realty Trust II LLC
 ServiceLive, Inc.

SHC Charitable Promotions LLC
 SHC Financial,
LLC
 SHC Promotions LLC
 SJC-I,
Inc.

  
 11 

 
			
	SOE, Inc.
	ST Holdings, Inc.
	StarWest, LLC
	STI Merchandising, Inc.
	The Sears-Roebuck Foundation
	Ubiquity Critical Environments I LLC
	Ubiquity Critical Environments II LLC
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President
	
	Community Revitalization Fund, Inc.
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	President
	
	KLC, Inc.
	Sears Holdings Publishing Company, LLC
	Sears Procurement Services, Inc.
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President and Secretary
	
	Kmart Corporation
	Kmart Holding Corporation
	Kmart of Michigan, Inc.
	Kmart Operations LLC
	Sears Operations LLC
	Sears, Roebuck and Co.
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President, Tax, Assistant Treasurer and Secretary
	
	Kmart Corporation of Illinois, Inc.
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Treasurer and Secretary

  
 12 

 
					
	Sears Holdings Management Corporation
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President, Tax and Assistant Treasurer
	
	Shop Your Way, Inc.
		
	By:	 	 /s/ Lawrence J. Meerschaert

		 	Lawrence J. Meerschaert
		 	Vice President and Treasurer
	
	SHC Licensed Business LLC
		
	By:	 	Sears Holdings Corporation, its sole member
			
		 	By:	 	 /s/ Lawrence J. Meerschaert

		 		 	Lawrence J. Meerschaert
		 		 	Vice President, Tax
	
	SHMC Beverly Group LLC
	STATE INTERACTIVE LLC
		
	By:	 	Sears Holdings Management Corporation,
its sole member
			
		 	By:	 	 /s/ Lawrence J. Meerschaert

		 		 	Lawrence J. Meerschaert
		 		 	Vice President, Tax and Assistant Treasurer

  
 15 

 
			
	Sears Global Technologies India Private Limited
	Sears IT & Management Services India Private Limited
		
	By:	 	 /s/ Kristine A. Shellum-Allenson

		 	Kristine A. Shellum-Allenson
		 	Director

  
 16 

 
			
	Sears Home & Business Franchises, Inc.
		
	By:	 	 /s/ R. Christopher Granger

		 	R. Christopher Granger
		 	Vice President

  
 17 

 
			
	Sears Holdings Mauritius Holding Company
		
	By:	 	 /s/ Kevin Allagapen

		 	Kevin Allagapen
		 	Director

  
 18 

 
			
	SHC Israel Ltd.
		
	By:	 	 /s/ Eui Chung

		 	Eui Chung
		 	Director

  
 19 

 
			
	International Sourcing & Logistics Limited
	Quality Assurance Laboratory Limited
	Sears Holdings Global Sourcing Limited [Hong Kong]
	Sears Holdings Global Sourcing Ltd. [Korea]
	Sears Sourcing India Private Limited
		
	By:	 	 /s/ Jay Richard Burdett

		 	Jay Richard Burdett
		 	Director

  
 20 

 
			
	SRe Holding Corporation
		
	By:	 	 /s/ Robert A. Riecker

		 	Robert A. Riecker
		 	Vice President

  
 21 

 EXHIBIT A 

FORM OF JOINDER 

THIS JOINDER (this “Joinder”), dated as of [            
    , 20    ] is delivered by [                    ] (the “Additional Subordinated
Creditor”) in connection with and pursuant to that certain Subordination Agreement dated as of March 18, 2016 (as amended, restated supplemented or otherwise modified from time to time, the “Subordination Agreement”), by
and among Sears Holding Corporation, the other Subordinated Creditors from time to time party thereto, the Subordinated Debtors from time to time party thereto, and the Pension Benefit Guaranty Corporation. Capitalized terms used herein without
definition are used as defined in the Subordination Agreement unless otherwise noted. 
 [The undersigned Additional Subordinated Creditor
has become a member of the Company’s Controlled Group and is executing this Joinder in accordance with Section 3(c) of the Subordination Agreement so as to become a Subordinated Creditor thereunder with respect to all Subordinated Debt.]1 
 [The undersigned Additional Subordinated Creditor has become a holder of certain
indebtedness or other obligations owed by one or more of the Subordinated Debtors and is executing this Joinder in accordance with Section 3(d) of the Subordination Agreement so as to become a Subordinated Creditor thereunder with respect to all
Subordinated Debt.]2 
 By executing and delivering this Joinder, the undersigned
Additional Subordinated Creditor hereby becomes a party to the Subordination Agreement as a Subordinated Creditor thereunder with the same force and effect as if originally named as a Subordinated Creditor therein and, without limiting the
generality of the foregoing, the Additional Subordinated Creditor hereby agrees that the Subordinated Debt is and shall be subject, subordinate and rendered junior, to the extent and in the manner set forth in the Subordination Agreement, in right
of payment, to the prior indefeasible payment in full of all Obligations now existing or hereafter arising until the Discharge of Obligations. 

The Additional Subordinated Creditor hereby agrees to be bound as a Subordinated Creditor for all purposes of the Subordination Agreement,
consents and agrees to each provision set forth in the Subordination Agreement, and acknowledges receipt of such Subordination Agreement. 

This Joinder shall be deemed to be part of the Subordination Agreement and shall be governed by all the terms and provisions of the
Subordination Agreement, which shall continue in full force and effect as a valid and binding agreement of each of the undersigned enforceable against such person or entity. 

[signature page follows] 

 

	1 	Use this paragraph in the case of a new member of the Company’s Controlled Group becoming a party to the Subordination Agreement, and delete the next bracketed paragraph. 

	2 	Use this paragraph in the case of a subsequent holder of Subordinated Debt becoming a party to the Subordination Agreement, and delete the previous bracketed paragraph. 

  
 1 

 IN WITNESS WHEREOF, THE UNDERSIGNED HAS CAUSED THIS JOINDER TO BE DULY EXECUTED AND DELIVERED AS OF THE DATE
FIRST ABOVE WRITTEN. 
  

			
	ADDITIONAL SUBORDINATED CREDITOR:
	
	[                                    
    ]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 2 

 Exhibit 22 

Issuer Order 
 [See Attached]

 Issuer Order 

Reference is made to that certain Indenture, dated as of May 18, 2006 (as amended, supplemented or otherwise modified from time to time, the
“Indenture”), between KCD IP, LLC (the “Issuer”) and U.S. Bank National Association, as trustee (the “Trustee”), pursuant to which the Issuer issued $1,800,000,000 aggregate principal amount of
6.90% KCD IP, LLC Asset-Backed Notes (the “Notes”). 
 The Issuer hereby requests and instructs the Trustee to (1) refrain
from consenting to or entering into any amendments to the Indenture on or after the date hereof without the prior, express written consent of Sandra Horwitz, in her capacity as manager of the Issuer (as such person may be replaced in accordance with
the terms of the Issuer’s governing documents, the “Independent Manager”) (unless refraining from such amendments would materially impair the value of the Notes), and (2) provide the Pension Benefit Guaranty Corporation with at
least 5 days prior written notice of any such amendment based on such material impairment. This Issuer Order may not be amended or revoked by any subsequent Issuer Order (as defined in the Indenture) unless such subsequent Issuer Order is signed by
the Independent Manager. 

 
			
	KCD IP, LLC
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President

 [Issuer Order] 

 Exhibit 23 

Agreements Limiting IP Independent Manager’s and Independent Directors’ Voting Authority 

[See Attached] 

 EXECUTION VERSION 

Management Agreement 

This Management Agreement is entered into as of March 18, 2016, by the undersigned Person, who has been designated as Independent Manager of
KCD IP, LLC, a Delaware limited liability company (the “Company”), in accordance with the Limited Liability Company Operating Agreement of the Company, dated as of May 18, 2006, as it may be amended or restated from time to time
(the “LLC Agreement”). 
 For good and valuable consideration, each of the undersigned hereby agrees as follows: 

1. The undersigned accepts such Person’s rights and authority as Independent Manager under the LLC Agreement and agrees to perform and
discharge such Person’s duties and obligations as Independent Manager under the LLC Agreement, and further agrees that such rights, authorities, duties and obligations under the LLC Agreement shall continue until such Person’s successor as
Independent Manager is designated or until such Person’s resignation or removal as Independent Manager in accordance with the LLC Agreement. The undersigned agrees and acknowledges that she has been designated as a “manager” of the
Company within the meaning of the Delaware Limited Liability Company Act. This Management Agreement shall also constitute a counterpart to the LLC Agreement, to which the undersigned hereby becomes a party. 

2. So long as any Obligation is outstanding, the undersigned agrees, solely in her capacity as a creditor of the Company on account of any
indemnification or other payment owing to the undersigned by the Company, not to acquiesce, petition or otherwise invoke or cause the Company to invoke the process of any court or governmental authority for the purpose of commencing or sustaining a
case against the Company under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Company or any substantial part of the
property of the Company, or ordering the winding up or liquidation of the affairs of the Company. 
 3. THIS MANAGEMENT AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, AND ALL RIGHTS AND REMEDIES SHALL BE GOVERNED BY SUCH LAWS WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 

Initially capitalized terms used and not otherwise defined herein have the meanings set forth in the LLC Agreement. 

This Management Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Management
Agreement and all of which together shall constitute one and the same instrument. 

 IN WITNESS WHEREOF, the undersigned have executed this Management Agreement as of the day and
year first above written. 
  

	
	 /s/ Sandra E. Horwitz

	Sandra E. Horwitz

 [Management Agreement] 

 EXECUTION VERSION 

SEARS HOLDINGS CORPORATION 
 March 18, 2016 

CORPORATION SERVICE COMPANY 
 2711 Centerville Road, Suite 400

 Wilmington, De 19808 
 Attention: Independent Director
Services 
  

	Re:	SRC DEPOSITOR CORPORATION, a Delaware corporation (“Depositor”) 

 Dear Sandra Horwitz: 

Reference is made to (i) the Amended and Restated Certificate of Incorporation of Depositor (the “Charter”) and (ii) the
Pension Plan Protection and Forbearance Agreement, dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “PPPFA”), among Sears Holdings Corporation, a Delaware corporation (the
“Company”), Depositor, certain of the Company’s other Subsidiaries and the Pension Benefit Guaranty Corporation (“PBGC”). Capitalized terms used and not defined herein have the meanings given to them in the
PPPFA. 
 Pursuant to Section 9.02(e)(2) of the PPPFA, this letter agreement (this “Letter Agreement”) confirms the limited
matters on which [INDEPENDENT DIRECTOR] (the “New Director”), in the New Director’s capacity as Independent Director (as defined in the Charter) of Depositor, may vote in accordance with Section 3.03(c) of the PPPFA, which the
parties hereto hereby agree are as follows: 
 1. The New Director may not vote on any matter other than the Identified Matters. 

2. “Identified Matters” shall consist solely of the following: 

(a) the authorization of Depositor to enter into the PPPFA or any other Transaction Document; 

(b) the commencement of a Voluntary Bankruptcy Event, or a Transfer, Pledge, or Distribution of all or substantially all of the assets of
Depositor; 
 (c) any amendment to the organizational documents of Depositor, including without limitation, Depositor’s Charter and
Bylaws; and 
 (d) any action which, in the New Director’s reasonable judgment, may impair the special purpose nature or the
bankruptcy-remoteness of any of the Depositor or the RE Subsidiaries in any material respect, or would otherwise be in breach of any provision set forth in any Transaction Document. 

  
 1 

 3. This Letter Agreement shall be effective only upon execution by each of the parties hereto and
may be amended, only to the extent consistent with the PPPFA and only by a writing signed by each of the parties hereto. In the event of any inconsistency between this Letter Agreement and the PPPFA (including, without limitation, Sections 3.03(c)
and 9.02(e)(2) thereof), the PPPFA shall govern. 
 4. This Letter Agreement shall be governed by and construed in accordance with the laws
of the State of New York (excluding any conflicts-of-law rule or principle that might refer same to the laws of another jurisdiction). Each party hereto hereby irrevocably and unconditionally submits, for itself and its property, to the jurisdiction
of the United States District Court for the Southern District of New York and any appellate courts therefrom, in any action or proceeding arising out of or relating to this Letter Agreement, or for recognition or enforcement of any judgment entered
therein (any of the foregoing, an “Action”), and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any Action may be heard and determined in such trial court and any appellate
court therefrom. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law or in equity. Each party hereto hereby irrevocably
and unconditionally waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any Action in any court referred to above. Each party hereto hereby irrevocably waives, to the
fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such Action in any such court. EACH PARTY HERETO DOES HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO A
TRIAL BY JURY IN ANY ACTION. If any term or provision of this Letter Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions
of this Letter Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 [Remainder
of Page Intentionally Left Blank] 

  
 2 

 
			
	Very truly yours,
	
	SEARS HOLDINGS CORPORATION
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer

  
 [Signature Page to
Letter Agreement (Depositor Independent Director)] 

 
			
	Very truly yours,
	
	SEARS HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	ACCEPTED AND AGREED:
	
	INDEPENDENT DIRECTOR
		
	By:	 	 /s/ Sandra E. Horwitz

	Name:	 	Sandra E. Horwitz
	
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Letter Agreement (Depositor Independent Director)] 

			
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Morris

	Name:	 	Karen L. Morris
	Title:	 	Acting CNR

  
 [Signature Page to
Letter Agreement (Depositor Independent Director)] 

 EXECUTION VERSION 

SEARS HOLDINGS CORPORATION 
 March 18, 2016 

CORPORATION SERVICE COMPANY 
 2711 Centerville Road, Suite 400

 Wilmington, De 19808 
 Attention: Independent Director
Services 
  

	Re:	KCD IP, LLC, a Delaware limited liability company (“KCD”) 

 Dear Sandra Horwitz: 

Reference is made to (i) the Limited Liability Company Operating Agreement of KCD, dated as of May 18, 2006 (as amended, supplemented or
otherwise modified from time to time, the “Operating Agreement”), between Sears Brands, LLC, as member, and Melissa Stark, as independent manager, and (ii) the Pension Plan Protection and Forbearance Agreement, dated as of the date
hereof (as amended, supplemented or otherwise modified from time to time, the “PPPFA”), among Sears Holdings Corporation, a Delaware corporation (the “Company”), KCD, certain of the Company’s other Subsidiaries
and the Pension Benefit Guaranty Corporation (“PBGC”). Capitalized terms used and not defined herein have the meanings given to them in the PPPFA. 

Pursuant to Section 9.02(j)(3) of the PPPFA, this letter agreement (this “Letter Agreement”) confirms the limited matters on
which [INDEPENDENT MANAGER] (the “New Manager”), in the New Manager’s capacity as Independent Manager (as defined in the Operating Agreement) of KCD, may vote in accordance with Section 4.02 of the PPPFA, which the parties
hereto hereby agrees are as follows: 
 1. Notwithstanding anything to the contrary set forth in the Operating Agreement, the New Manager
may not vote on any matter other than the Identified Matters. 
 2. “Identified Matters” shall consist solely of the
following: 
 (a) the authorization of KCD to enter into the PPPFA or any other Transaction Document; 

(b) the commencement of a Voluntary Bankruptcy Event, or a Transfer, Pledge, or Distribution of all or substantially all of the assets of KCD;

 (c) any amendment to the organizational documents of KCD, including without limitation, the Operating Agreement; and 

(d) any action which, in the New Manager’s reasonable judgment, may impair the bankruptcy remoteness of KCD in any material respect, or
would otherwise be in violation of any provision set forth in any Transaction Document. 

  
 1 

 3. This Letter Agreement shall be effective only upon execution by each of the parties hereto and
may be amended, only to the extent consistent with the PPPFA and only by a writing signed by each of the parties hereto. In the event of any inconsistency between this Letter Agreement and the PPPFA (including without limitation, Sections 4.02 and
9.02(j)(3) thereof), the PPPFA shall govern. 
 4. This Letter Agreement shall be governed by and construed in accordance with the laws of
the State of New York (excluding any conflicts-of-law rule or principle that might refer same to the laws of another jurisdiction). Each party hereto hereby irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of
the United States District Court for the Southern District of New York and any appellate courts therefrom, in any action or proceeding arising out of or relating to this Letter Agreement, or for recognition or enforcement of any judgment entered
therein (any of the foregoing, an “Action”), and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any Action may be heard and determined in such trial court and any appellate
court therefrom. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law or in equity. Each party hereto hereby irrevocably
and unconditionally waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any Action in any court referred to above. Each party hereto hereby irrevocably waives, to the
fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such Action in any such court. EACH PARTY HERETO DOES HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO A
TRIAL BY JURY IN ANY ACTION. If any term or provision of this Letter Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions
of this Letter Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 [Remainder
of Page Intentionally Left Blank] 

  
 2 

 
			
	Very truly yours,
	
	SEARS HOLDINGS CORPORATION
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer

  
 [Signature Page to
Letter Agreement (IP Independent Manager)] 

 
			
	Very truly yours,
	
	SEARS HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	ACCEPTED AND AGREED:
	
	INDEPENDENT MANAGER
		
	By:	 	 /s/ Sandra E. Horwitz

	Name:	 	Sandra E. Horwitz
	
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Letter Agreement (IP Independent Manager)] 

			
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Morris

	Name:	 	Karen L. Morris
	Title:	 	Acting CNR

  
 [Signature Page to
Letter Agreement (IP Independent Manager)] 

 EXECUTION VERSION 

SEARS HOLDINGS CORPORATION 
 March 18, 2016 

CORPORATION SERVICE COMPANY 
 2711 Centerville Road, Suite 400

 Wilmington, De 19808 
 Attention: Independent Director
Services 
  

	Re:	SRC O.P. CORPORATION, a Delaware corporation (“SRC”) 

 Dear Sandra Horwitz: 

Reference is made to (i) the Amended and Restated Certificate of Incorporation of SRC (the “Charter”) and (ii) the Pension
Plan Protection and Forbearance Agreement, dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “PPPFA”), among Sears Holdings Corporation, a Delaware corporation (the
“Company”), SRC, certain of the Company’s other Subsidiaries and the Pension Benefit Guaranty Corporation (“PBGC”). Capitalized terms used and not defined herein have the meanings given to them in the PPPFA.

 Pursuant to Section 9.02(e)(2) of the PPPFA, this letter agreement (this “Letter Agreement”) confirms the limited
matters on which [INDEPENDENT DIRECTOR] (the “New Director”), in the New Director’s capacity as Independent Director (as defined in the Charter) of SRC, may vote in accordance with Section 3.03(c) of the PPPFA, which the
parties hereto hereby agrees are as follows: 
 1. The New Director may not vote on any matter other than the Identified Matters. 

2. “Identified Matters” shall consist solely of the following: 

(a) the authorization of SRC to enter into the PPPFA or any other Transaction Document; 

(b) the commencement of a Voluntary Bankruptcy Event, or a Transfer, Pledge, or Distribution of all or substantially all of the assets of SRC;

 (c) any amendment to the organizational documents of SRC, including without limitation, SRC’s Charter and Bylaws; and 

(d) any action which, in the New Director’s reasonable judgment, may impair the special purpose nature or the bankruptcy-remoteness of
any of SRC, the Depositor, or the other RE Subsidiaries in any material respect, or would otherwise be in breach of any provision set forth in any Transaction Document. 

  
 1 

 3. This Letter Agreement shall be effective only upon execution by each of the parties hereto and
may be amended, only to the extent consistent with the PPPFA and only by a writing signed by each of the parties hereto. In the event of any inconsistency between this Letter Agreement and the PPPFA (including without limitation, Section 3.03(c) and
9.02(e)(2) thereof), the PPPFA shall govern. 
 4. This Letter Agreement shall be governed by and construed in accordance with the laws of
the State of New York (excluding any conflicts-of-law rule or principle that might refer same to the laws of another jurisdiction). Each party hereto hereby irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of
the United States District Court for the Southern District of New York and any appellate courts therefrom, in any action or proceeding arising out of or relating to this Letter Agreement, or for recognition or enforcement of any judgment entered
therein (any of the foregoing, an “Action”), and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any Action may be heard and determined in such trial court and any appellate
court therefrom. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law or in equity. Each party hereto hereby irrevocably
and unconditionally waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any Action in any court referred to above. Each party hereto hereby irrevocably waives, to the
fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such Action in any such court. EACH PARTY HERETO DOES HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO A
TRIAL BY JURY IN ANY ACTION. If any term or provision of this Letter Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions
of this Letter Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 [Remainder
of Page Intentionally Left Blank] 

  
 2 

 
			
	Very truly yours,
	
	SEARS HOLDINGS CORPORATION
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer

  
 [Signature Page to
Letter Agreement (SRC OP Independent Director)] 

 
			
	Very truly yours,
	
	SEARS HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	ACCEPTED AND AGREED:
	
	INDEPENDENT DIRECTOR
		
	By:	 	 /s/ Sandra E. Horwitz

	Name:	 	Sandra E. Horwitz
	
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Letter Agreement (SRC Independent Director)] 

			
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Morris

	Name:	 	Karen L. Morris
	Title:	 	Acting CNR

  
 [Signature Page to
Letter Agreement (SRC OP Independent Director)] 

 EXECUTION VERSION 

SERVICE AGREEMENT 

This Service Agreement (“Agreement”) is effective as of March 18, 2016 (the “Effective Date”) by and between SRC
Depositor Corporation (the “Company”), a Delaware corporation, and Corporation Service Company, a Delaware corporation (“CSC”). 

WHEREAS, reference is made to is made to the Pension Plan Protection and Forbearance Agreement, dated as of March 18, 2016 by and between
Sears Holdings Corporation, the Company, SRC O.P. Corporation, Sears Real Estate (TX), LP, SRC Real Estate Holdings (TX), LP, SRC Facilities Statutory Trust No. 2003-A, Sears, Roebuck and Co., KCD IP, LLC, and Sears Brands, LLC and Pension Benefit
Guaranty Corporation (“PBGC”) (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”); 

NOW, THEREFORE, in consideration of the promises and mutual agreements herein contained and the mutual benefits hereby provided, the parties
hereto hereby agree as follows: 
  

	 	1.	The Company hereby retains CSC to identify the individual (listed on Exhibit A to this Agreement), (the “Independent Director”) to serve as an Independent Director of the Company. A copy of the Company’s
articles of incorporation and bylaws (“Organizational Documents”) shall be provided to CSC prior to execution of this Agreement. The Independent Director shall be an employee of CSC. 

 

	 	2.	In the event an Independent Director is at any time unable to serve the Company in such capacity, including if such Independent Director shall have ceased to be an employee of CSC for any reason, CSC shall identify a
substitute Independent Director set forth on Exhibit 17 to the PPPFA or otherwise expressly approved in advance in writing by PBGC, subject to the terms and conditions of this Agreement, whose appointment shall become effective upon notice to, and
acceptance of the substitute independent director by, the Company. It is expressly understood by the Company that neither Independent Director nor any other employee of CSC shall serve as an officer of the Company. It is an ongoing condition to the
continued performance of CSC’s duties under this Agreement that the Company promptly shall (i) take all appropriate actions under its Organizational Documents to duly appoint the Independent Director, and (ii) provide Independent Director any
other documents, information or advice reasonably requested by Independent Director with respect to matters as to which Independent Director is permitted to vote. 

 

	 	3.	The Company shall pay CSC a non-refundable annual base fee of $2,500.00 per year, which is payable in advance (the “Annual Fee”). 

 

	 	4.	To the extent required by the Organizational Documents, the Company shall promptly reimburse the Independent Director for any expense incurred relating to the services of Independent Director. 

 

	 	5.	 In the event that the Company provides directors’ and officers’ liability insurance to any of the directors or officers of the Company, then
the Company agrees to provide at its own expense directors’ and officers’ liability insurance covering Independent Director, or any substitute Independent Director, as provided for in Section 2 of this Agreement, in an

	 	
amount and on terms no less favorable than that which is provided to the other directors and officers of the Company, and, upon request, deliver a certificate to CSC evidencing such coverage. The
Company shall notify CSC of the existence of and any termination, cancellation or material adverse changes to such insurance coverage. 

  

	 	6.	To the extent required by the Organizational Documents, the Company shall indemnify, defend and hold harmless the Independent Director. The Company, on its own behalf and on behalf of its affiliates, agrees (i) not to
file any complaint, proceeding, lawsuit, or other legal or equitable action against CSC, its affiliated companies, and all of such companies’ current and former employees, agents, officers and managers (other than the Independent Director)
(each, a “Covered Person”), based upon or arising out of any of the services provided by the Independent Director, and (ii) that, notwithstanding any provision in the Organizational Documents to the contrary, a Covered Person shall not
have any liability for any act or omission taken or omitted by the Independent Director arising from or related to the Independent Director’s service to the Company, and a Covered Person shall not be liable for consequential, punitive or
exemplary damages or for any claims by third parties. 

  

	 	7.	This Agreement shall be in full force and effect from the Effective Date until it is terminated by the parties in accordance herewith. This Agreement may be terminated (i) by either party upon thirty (30) days prior
written notice of termination to the other party and PBGC, or (ii) by CSC immediately upon written notice to the Company and PBGC if Independent Director and/or CSC reasonably determines that the Company has failed to comply with any of its
obligations under this Agreement, at which time the Independent Director shall no longer have any obligations to the Company. Notwithstanding anything in this Agreement to the contrary, Section 3, Section 4, Section 6, Section 7, Section 9, Section
10 and Section 11 of this Agreement shall survive termination of this Agreement. 

  

	 	8.	The Company represents and warrants that (i) it has the right, power, and authority to enter into and to perform its obligations under this Agreement; (ii) the execution, delivery and performance by it of this Agreement
have been duly authorized by all necessary corporate action on its part; and (iii) this Agreement constitutes its legal, valid, and binding obligation, enforceable against it in accordance with its terms. 

 

	 	9.	All notices, requests and consents required or permitted under this Agreement shall be in writing and delivered personally or sent by certified, registered or overnight mail or by facsimile or email to the applicable
party at the following address (or at such other address as shall be given to the other party in writing): 

  

			
	To the Company:	  	SRC Depositor Corporation
		  	c/o Sears Holdings Corporation
		  	3333 Beverly Road, B6-237B
		  	Hoffman Estates, IL 60179
		  	Attention: Jonathan C. Babb, Vice President & Deputy General Counsel
		  	Facsimile: (847) 747-1610
		  	Email: jonathan.babb@searshc.com

  
 2 

			
		
	To PBGC:	  	Pension Benefit Guaranty Corporation
		  	Director, Corporate Financing and Restructuring Department
		  	1200 K Street, N.W., Suite 270
		  	Washington, DC 20005-4026
		  	Facsimile: (202) 842-2643
		
	With a copy (which shall not constitute notice) to:	  	Pension Benefit Guaranty Corporation
	  	Chief Counsel, Office of the Chief Counsel
	  	1200 K Street, N.W., Suite 300
	  	Washington, DC 20005-4026
	  	Facsimile: (202) 326-4112
		
	To CSC or Independent Director:	  	Corporation Service Company
		  	2711 Centerville Road, Suite 400
		  	Wilmington, Delaware 19808
		  	Attention: Independent Director Services
		  	Facsimile: (302) 636-5454
		  	E-mail: IDService@cscinfo.com

  

	 	10.	This Agreement and the rights and duties of the parties hereto shall be governed by the laws of the State of New York (without regard to principles of conflicts of law). The parties to this Agreement consent to personal
jurisdiction in the State of New York for any dispute or claim arising out of or relating to this Agreement and agree that any such dispute or claim shall be submitted exclusively to any federal or state court within the State of New York having
jurisdiction over the dispute. 

  

	 	11.	Except as otherwise provided herein, this Agreement and the Organizational Documents represent the entire understanding of the parties with respect to the specific subject matter thereof and supersede all previous
understandings, written or oral, among the parties with respect to such subject matter. This Agreement may be signed in more than one counterpart, each of which shall be binding and all of which taken together shall be one and the same agreement. No
amendments, additions or modifications from the terms and conditions of this Agreement shall be binding upon any party hereto unless agreed to in writing by such party. The waiver by any party of the breach of any provision of this Agreement shall
not operate as or be construed as a waiver of any subsequent breach thereof. No party may assign its rights and obligations under this Agreement without the prior written consent of the other party. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors, heirs, executors and assigns. The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section,
paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and the validity and enforceability of any such provision in every other respect and of the remaining provisions
hereof shall not be in any way impaired and shall remain enforceable to the fullest extent permitted by law. 

  
 3 

 [SIGNATURE PAGE FOLLOWS] 

  
 4 

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed as the date first
above written. 
  

			
	CORPORATION SERVICE COMPANY
		
	By:	 	 /s/ Michelle A. Dreyer

	Name:	 	Michelle A. Dreyer
	Title:	 	Authorized Signatory
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed as the date first
above written. 
  

			
	CORPORATION SERVICE COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	 /s/ DEANN M. BOGNER

	Name:	 	DEANN M. BOGNER
	Title:	 	ASSISTANT SECRETARY

  
 [Retention Agreement]

 EXHIBIT A 

The undersigned hereby joins in the execution of the Service Agreement dated effective as of March 17, 2016 (the “Agreement”)
between SRC Depositor Corporation (the “Company”) and Corporation Service Company, to which this exhibit is attached for the limited purpose of (i) accepting his or her appointment as an Independent Director of the Company, and (ii)
accepting and agreeing to be bound by all of the terms and provisions of the Agreement applicable to the undersigned as Independent Director. 
  

							
	Date:	 		 	
			
	March 17, 2016	 		 	 /s/ Sandra E. Horwitz

		 		 	Name:	 	Sandra E. Horwitz

  
 A-1 

 EXECUTION VERSION 

SERVICE AGREEMENT 

This Service Agreement (“Agreement”) is effective as of March 18, 2016 (the “Effective Date”) by and between SRC O.P.
Corporation (the “Company”), a Delaware corporation, and Corporation Service Company, a Delaware corporation (“CSC”). 

WHEREAS, reference is made to is made to the Pension Plan Protection and Forbearance Agreement, dated as of March 18, 2016, by and between
Sears Holdings Corporation, SRC Depositor Corporation, the Company, Sears Real Estate (TX), LP, SRC Real Estate Holdings (TX), LP, SRC Facilities Statutory Trust No. 2003-A, Sears, Roebuck and Co., KCD IP, LLC, and Sears Brands, LLC and Pension
Benefit Guaranty Corporation (“PBGC”) (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”); 

NOW, THEREFORE, in consideration of the promises and mutual agreements herein contained and the mutual benefits hereby provided, the parties
hereto hereby agree as follows: 
  

	 	1.	The Company hereby retains CSC to identify the individual (listed on Exhibit A to this Agreement), (the “Independent Director”) to serve as an Independent Director of the Company. A copy of the Company’s
articles of incorporation and bylaws (“Organizational Documents”) shall be provided to CSC prior to execution of this Agreement. The Independent Director shall be an employee of CSC. 

 

	 	2.	In the event an Independent Director is at any time unable to serve the Company in such capacity, including if such Independent Director shall have ceased to be an employee of CSC for any reason, CSC shall identify a
substitute Independent Director set forth on Exhibit 17 to the PPPFA or otherwise expressly approved in advance in writing by PBGC, subject to the terms and conditions of this Agreement, whose appointment shall become effective upon notice to, and
acceptance of the substitute independent director by, the Company. It is expressly understood by the Company that neither Independent Director nor any other employee of CSC shall serve as an officer of the Company. It is an ongoing condition to the
continued performance of CSC’s duties under this Agreement that the Company promptly shall (i) take all appropriate actions under its Organizational Documents to duly appoint the Independent Director, and (ii) provide Independent Director any
other documents, information or advice reasonably requested by Independent Director with respect to matters as to which Independent Director is permitted to vote. 

 

	 	3.	The Company shall pay CSC a non-refundable annual base fee of $2,500.00 per year, which is payable in advance (the “Annual Fee”). 

 

	 	4.	To the extent required by the Organizational Documents, the Company shall promptly reimburse the Independent Director for any expense incurred relating to the services of Independent Director. 

 

	 	5.	 In the event that the Company provides directors’ and officers’ liability insurance to any of the directors or officers of the Company, then
the Company agrees to provide at its own expense directors’ and officers’ liability insurance covering Independent Director, or any substitute Independent Director, as provided for in Section 2 of this Agreement, in an

	 	
amount and on terms no less favorable than that which is provided to the other directors and officers of the Company, and, upon request, deliver a certificate to CSC evidencing such coverage. The
Company shall notify CSC of the existence of and any termination, cancellation or material adverse changes to such insurance coverage. 

  

	 	6.	To the extent required by the Organizational Documents, the Company shall indemnify, defend and hold harmless the Independent Director. The Company, on its own behalf and on behalf of its affiliates, agrees (i) not to
file any complaint, proceeding, lawsuit, or other legal or equitable action against CSC, its affiliated companies, and all of such companies’ current and former employees, agents, officers and managers (other than the Independent Director)
(each, a “Covered Person”), based upon or arising out of any of the services provided by the Independent Director, and (ii) that, notwithstanding any provision in the Organizational Documents to the contrary, a Covered Person shall not
have any liability for any act or omission taken or omitted by the Independent Director arising from or related to the Independent Director’s service to the Company, and a Covered Person shall not be liable for consequential, punitive or
exemplary damages or for any claims by third parties. 

  

	 	7.	This Agreement shall be in full force and effect from the Effective Date until it is terminated by the parties in accordance herewith. This Agreement may be terminated (i) by either party upon thirty (30) days prior
written notice of termination to the other party and PBGC, or (ii) by CSC immediately upon written notice to the Company and PBGC if Independent Director and/or CSC reasonably determines that the Company has failed to comply with any of its
obligations under this Agreement, at which time the Independent Director shall no longer have any obligations to the Company. Notwithstanding anything in this Agreement to the contrary, Section 3, Section 4, Section 6, Section 7, Section 9, Section
10 and Section 11 of this Agreement shall survive termination of this Agreement. 

  

	 	8.	The Company represents and warrants that (i) it has the right, power, and authority to enter into and to perform its obligations under this Agreement; (ii) the execution, delivery and performance by it of this Agreement
have been duly authorized by all necessary corporate action on its part; and (iii) this Agreement constitutes its legal, valid, and binding obligation, enforceable against it in accordance with its terms. 

 

	 	9.	All notices, requests and consents required or permitted under this Agreement shall be in writing and delivered personally or sent by certified, registered or overnight mail or by facsimile or email to the applicable
party at the following address (or at such other address as shall be given to the other party in writing): 

  

			
	To the Company:	  	SRC O.P. Corporation
		  	c/o Sears Holdings Corporation
		  	3333 Beverly Road, B6-237B
		  	Hoffman Estates, IL 60179
		  	Attention: Jonathan C. Babb, Vice President & Deputy General Counsel
		  	Facsimile: (847) 747-1610
		  	Email: jonathan.babb@searshc.com

  
 2 

			
		
	To PBGC:	  	Pension Benefit Guaranty Corporation
		  	Director, Corporate Financing and Restructuring Department
		  	1200 K Street, N.W., Suite 270
		  	Washington, DC 20005-4026
		  	Facsimile: (202) 842-2643
		
	With a copy (which shall not constitute notice) to:	  	Pension Benefit Guaranty Corporation
	  	Chief Counsel, Office of the Chief Counsel
	  	1200 K Street, N.W., Suite 300
	  	Washington, DC 20005-4026
	  	Facsimile: (202) 326-4112
		
	To CSC or Independent Director:	  	Corporation Service Company
		  	2711 Centerville Road, Suite 400
		  	Wilmington, Delaware 19808
		  	Attention: Independent Director Services
		  	Facsimile: (302) 636-5454
		  	E-mail: IDService@cscinfo.com

  

	 	10.	This Agreement and the rights and duties of the parties hereto shall be governed by the laws of the State of New York (without regard to principles of conflicts of law). The parties to this Agreement consent to personal
jurisdiction in the State of New York for any dispute or claim arising out of or relating to this Agreement and agree that any such dispute or claim shall be submitted exclusively to any federal or state court within the State of New York having
jurisdiction over the dispute. 

  

	 	11.	Except as otherwise provided herein, this Agreement and the Organizational Documents represent the entire understanding of the parties with respect to the specific subject matter thereof and supersede all previous
understandings, written or oral, among the parties with respect to such subject matter. This Agreement may be signed in more than one counterpart, each of which shall be binding and all of which taken together shall be one and the same agreement. No
amendments, additions or modifications from the terms and conditions of this Agreement shall be binding upon any party hereto unless agreed to in writing by such party. The waiver by any party of the breach of any provision of this Agreement shall
not operate as or be construed as a waiver of any subsequent breach thereof. No party may assign its rights and obligations under this Agreement without the prior written consent of the other party. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors, heirs, executors and assigns. The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section,
paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and the validity and enforceability of any such provision in every other respect and of the remaining provisions
hereof shall not be in any way impaired and shall remain enforceable to the fullest extent permitted by law. 

  
 3 

 [SIGNATURE PAGE FOLLOWS] 

  
 4 

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed as the date first
above written. 
  

			
	CORPORATION SERVICE COMPANY
		
	By:	 	 /s/ Michelle A. Dreyer

	Name:	 	Michelle A. Dreyer
	Title:	 	Authorized Signatory
	
	SRC O.P. CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed as the date first
above written. 
  

			
	CORPORATION SERVICE COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC O.P. CORPORATION
		
	By:	 	 /s/ DEANN M. BOGNER

	Name:	 	DEANN M. BOGNER
	Title:	 	ASSISTANT SECRETARY

 [Retention Agreement] 

 EXHIBIT A 

The undersigned hereby joins in the execution of the Service Agreement dated effective as of March 17, 2016 (the “Agreement”)
between SRC O.P. Corporation (the “Company”) and Corporation Service Company, to which this exhibit is attached for the limited purpose of (i) accepting his or her appointment as an Independent Director of the Company, and (ii) accepting
and agreeing to be bound by all of the terms and provisions of the Agreement applicable to the undersigned as Independent Director. 
  

							
	Date:	 		 	
			
	March 17, 2016	 		 	 /s/ Sandra E. Horwitz

		 		 	Name:	 	Sandra E. Horwitz

  
 A-1 

 EXECUTION VERSION 

SERVICE AGREEMENT 

This Service Agreement (“Agreement”) is effective as of March 18, 2016 (the “Effective Date”) by and between KCD IP,
LLC (the “Company”), a Delaware limited liability company, and Corporation Service Company, a Delaware corporation (“CSC”). 

WHEREAS, reference is made to is made to the Pension Plan Protection and Forbearance Agreement, dated as of March 18, 2016 by and between
Sears Holdings Corporation, SRC Depositor Corporation, SRC O.P. Corporation, Sears Real Estate (TX), LP, SRC Real Estate Holdings (TX), LP, SRC Facilities Statutory Trust No. 2003-A, Sears, Roebuck and Co., the Company, and Sears Brands, LLC and
Pension Benefit Guaranty Corporation (“PBGC”) (as amended, restated, supplemented or otherwise modified from time to time, the “PPPFA”); 

NOW, THEREFORE, in consideration of the promises and mutual agreements herein contained and the mutual benefits hereby provided, the parties
hereto hereby agree as follows: 
  

	1.	The Company hereby retains CSC to identify the individual (listed on Exhibit A to this Agreement), (the “Independent Manager”) to serve as an Independent Manager of the Company (or in such similar capacity as
specified in the Company’s operating agreement (the “Operating Agreement”)). A copy of the Operating Agreement shall be provided to CSC prior to execution of this Agreement. The Independent Manager shall be an employee of CSC.
Notwithstanding any duty, power or authority granted to the Independent Manager by the Operating Agreement, the Independent Manager shall have no duty to participate in, vote on, consent to, approve or otherwise take action with respect to any
matter regarding the Company other than those matters set forth in the letter agreement attached hereto as Exhibit B. 

  

	2.	In the event an Independent Manager is at any time unable to serve the Company in such capacity, including if such Independent Manager shall have ceased to be an employee of CSC for any reason, CSC shall identify a
substitute Independent Manager set forth on Exhibit 17 to the PPPFA or otherwise expressly approved in advance in writing by PBGC, subject to the terms and conditions of this Agreement, whose appointment shall become effective upon notice to, and
acceptance of the substitute independent manager by, the Company. It is expressly understood by the Company that neither Independent Manager nor any other employee of CSC shall serve as an officer of the Company. It is an ongoing condition to the
continued performance of CSC’s duties under this Agreement that the Company promptly shall (i) take all appropriate actions under its Operating Agreement to duly appoint the Independent Manager, and (ii) provide Independent Manager any other
documents, information or advice reasonably requested by Independent Manager with respect to matters as to which Independent Manager is permitted to vote. 

  

	3.	The Company shall pay CSC a non-refundable annual base fee of $2,500.00 per year, which is payable in advance (the “Annual Fee”). 

	4.	To the extent required by the Operating Agreement, the Company shall promptly reimburse the Independent Manager for any expense incurred relating to the services of Independent Manager. 

 

	5.	In the event that the Company provides directors’ and officers’ liability insurance to any of the managers or officers of the Company, then the Company agrees to provide at its own expense directors’ and
officers’ liability insurance covering Independent Manager, or any substitute Independent Manager, as provided for in Section 2 of this Agreement, in an amount and on terms no less favorable than that which is provided to the other managers and
officers of the Company, and, upon request, deliver a certificate to CSC evidencing such coverage. The Company shall notify CSC of the existence of and any termination, cancellation or material adverse changes to such insurance coverage.

  

	6.	To the extent required by the Operating Agreement, the Company shall indemnify, defend and hold harmless the Independent Manager. The Company, on its own behalf and on behalf of its affiliates, agrees (i) not to file
any complaint, proceeding, lawsuit, or other legal or equitable action against CSC, its affiliated companies, and all of such companies’ current and former employees, agents, officers and managers (other than the Independent Manager) (each, a
“Covered Person”), based upon or arising out of any of the services provided by the Independent Manager, and (ii) that, notwithstanding any provision in the Operating Agreement to the contrary, a Covered Person shall not have any liability
for any act or omission taken or omitted by the Independent Manager arising from or related to the Independent Manager’s service to the Company, and a Covered Person shall not be liable for consequential, punitive or exemplary damages or for
any claims by third parties. 

  

	7.	This Agreement shall be in full force and effect from the Effective Date until it is terminated by the parties in accordance herewith. This Agreement may be terminated (i) by either party upon thirty (30) days prior
written notice of termination to the other party and PBGC, or (ii) by CSC immediately upon written notice to the Company and PBGC if Independent Manager and/or CSC reasonably determines that the Company has failed to comply with any of its
obligations under this Agreement, at which time the Independent Manager shall no longer have any obligations to the Company. Notwithstanding anything in this Agreement to the contrary, Section 3, Section 4, Section 6, Section 7, Section 9, Section
10 and Section 11 of this Agreement shall survive termination of this Agreement. 

  

	8.	The Company represents and warrants that (i) it has the right, power, and authority to enter into and to perform its obligations under this Agreement; (ii) the execution, delivery and performance by it of this Agreement
have been duly authorized by all necessary corporate action on its part; and (iii) this Agreement constitutes its legal, valid, and binding obligation, enforceable against it in accordance with its terms. 

  
 2 

	9.	All notices, requests and consents required or permitted under this Agreement shall be in writing and delivered personally or sent by certified, registered or overnight mail or by facsimile or email to the applicable
party at the following address (or at such other address as shall be given to the other party in writing): 

  

			
	To the Company:	  	KCD IP, LLC
		  	c/o Sears Holdings Corporation
		  	3333 Beverly Road, B6-237B
		  	Hoffman Estates, IL 60179
		  	Attention: Jonathan C. Babb, Vice President & Deputy General Counsel
		  	Facsimile: (847) 747-1610
		  	Email: jonathan.babb@searshc.com
		
	To PBGC:	  	Pension Benefit Guaranty Corporation
		  	Director, Corporate Financing and Restructuring Department
		  	1200 K Street, N.W., Suite 270
		  	Washington, DC 20005-4026
		  	Facsimile: (202) 842-2643
		
	With a copy (which shall not constitute notice) to:	  	Pension Benefit Guaranty Corporation
	  	Chief Counsel, Office of the Chief Counsel
	  	1200 K Street, N.W., Suite 300
	  	Washington, DC 20005-4026
	  	Facsimile: (202) 326-4112
		
	To CSC or Independent Manager:	  	Corporation Service Company
		  	2711 Centerville Road, Suite 400
		  	Wilmington, Delaware 19808
		  	Attention: Independent Director Services
		  	Facsimile: (302) 636-5454
		  	Email: IDService@cscglobal.com

  

	10.	This Agreement and the rights and duties of the parties hereto shall be governed by the laws of the State of New York (without regard to principles of conflicts of law). The parties to this Agreement consent to personal
jurisdiction in the State of New York for any dispute or claim arising out of or relating to this Agreement and agree that any such dispute or claim shall be submitted exclusively to any federal or state court within the State of New York having
jurisdiction over the dispute. 

  

	11.	 Except as otherwise provided herein, this Agreement and the Operating Agreement represent the entire understanding of the parties with respect to the
specific subject matter thereof and supersede all previous understandings, written or oral, among the parties with respect to such subject matter. This Agreement may be signed in more than one counterpart, each of which shall be binding and all of
which taken together shall be one and the same agreement. No amendments, additions or modifications from the terms and conditions of this Agreement shall be binding upon any party hereto unless agreed to in writing by such party. The waiver by any
party of the breach of any provision of this Agreement shall not operate as or be construed as a waiver of any subsequent breach 

  
 3 

	 	
thereof. No party may assign its rights and obligations under this Agreement without the prior written consent of the other party. This Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors, heirs, executors and assigns. The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or
sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and the validity and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not
be in any way impaired and shall remain enforceable to the fullest extent permitted by law. 

 [SIGNATURE PAGE FOLLOWS] 

  
 4 

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed as the date first
above written. 
  

			
	CORPORATION SERVICE COMPANY
		
	By:	 	 /s/ Michelle A. Dreyer

	Name:	 	Michelle A. Dreyer
	Title:	 	Authorized Signatory
	
	KCD IP, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed as the date first
above written. 
  

			
	CORPORATION SERVICE COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	KCD IP, LLC
		
	By:	 	 /s/ DEANN M. BOGNER

	Name:	 	DEANN M. BOGNER
	Title:	 	ASSISTANT SECRETARY

  
 [Retention Agreement]

 EXHIBIT A 

The undersigned hereby joins in the execution of the Service Agreement dated effective as of March 17, 2016 (the “Agreement”)
between KCD IP, LLC (the “Company”) and Corporation Service Company, to which this exhibit is attached for the limited purpose of (i) accepting his or her appointment as an Independent Manager of the Company, and (ii) accepting and
agreeing to be bound by all of the terms and provisions of the Agreement applicable to the undersigned as Independent Manager. 
  

							
	Date:	 		 		 	
			
	March 17, 2016	 		 	 /s/ Sandra E. Horwitz

		 		 	Name:	 	Sandra E. Horwitz

  
 A-1 

 Exhibit 24 

REMIC Transactional Document Waivers 

[See Attached] 

 EXECUTION VERSION 

FIRST AMENDMENT TO THE 

MASTER LEASE AGREEMENT 

THIS FIRST AMENDMENT TO THE MASTER LEASE AGREEMENT, made and entered as of March 18, 2016 (this “Amendment”), between (a) (i)
in the case of any Site located in the State of Maryland, as to matters relating to the Site or the Site Lease, SRC O.P. CORPORATION, a Delaware corporation and as to matters relating to the related Mortgage Note, SRC Facilities Statutory Trust No.
2003-A, a Delaware statutory trust, acting on behalf of the applicable SUBI Portfolio; (ii) in the case of any Site located in the State of Texas, SRC REAL ESTATE (TX), LP, a Delaware limited partnership; or (iii) in the case of any other Site, SRC
Facilities Statutory Trust No. 2003-A, a Delaware statutory trust, acting on behalf of the applicable SUBI Portfolio, in each case as lessor (each, as applicable, the “Lessor”), (b) SEARS, ROEBUCK AND CO., as lessee (the
“Lessee”) and as document custodian, master servicer and special servicer (the “Servicer”), and (c) SRC DEPOSITOR CORPORATION, a Delaware corporation (the “Depositor” and, together with each Lessor,
the Lessee and the Servicer, the “Parties”). Capitalized terms used but not defined herein have the meanings provided in the Agreement (as defined below). 

WHEREAS, each Lessor and the Lessee entered into that certain Master Lease Agreement, dated as of November 24, 2003 (as may be further
amended, supplemented, modified or restated from time to time, the “Agreement”); 
 WHEREAS, pursuant to Section
22(a) of the Agreement, the parties hereto desire to amend the Agreement; 
 WHEREAS, the Parties entered into various other Operative
Documents pursuant to which each of the Sites was contributed to the applicable Lessee and certain Mortgage Loans, secured by certain Mortgages, were made to the applicable Lessor; 

WHEREAS, pursuant to a Pooling and Servicing Agreement, dated as of November 24, 2003 (the “PSA”), between the Depositor, the
Servicer and Wells Fargo Bank, N.A. (formerly known as Wells Fargo Bank Minnesota, N.A.), the Mortgage Loans were contributed to a trust and such trust issued Certificates (as defined in the PSA) backed by the Mortgage Loans, which Certificates are
held by the Depositor; 
 WHEREAS, pursuant to the terms of the PSA, the Servicer is permitted to consent to waivers of the terms of the
Mortgage Loans; 
 WHEREAS, Sears Holdings Corporation, a Delaware corporation (the “Parent”), the Parties, certain other
subsidiaries of the Parent and the Pension Benefit Guaranty Corporation have entered into a Pension Plan Protection and Forbearance Agreement, dated as of the date hereof (the “PPPFA”); 

WHEREAS, certain of the transactions contemplated by the PPPFA and the other Transaction Documents (as defined in the PPPFA) constitute
defaults under certain of the Operative Documents and/or the PSA (the “Transaction Defaults”); and 

 WHEREAS, subject to the terms and conditions set forth herein, each of the Parties has agreed to
waive the Transaction Defaults. 
 NOW, THEREFORE, in consideration of the premises and the other mutual covenants contained herein, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows: 
 Section
1. Substitution. 
 The last sentence of Section 14(d) of the Agreement is hereby amended by adding the following phrase: 

“provided, however, that Lessee shall have until the date that is 120 days following the date of the applicable substitution in
order to deliver the following with respect to each Substitute Site: (i) a survey and title policies (owner’s and mortgagee’s) (ii) environmental reports and reliance letters; and (iii) UCC, tax lien and judgment searches; provided
further that the aggregate value (determined, with respect to each property, by reference to an appraisal effective on or about the date of the applicable substitution) of the properties for which the items set forth in the immediately preceding
proviso have not been delivered shall not at any time exceed $50,000,000; 
 Section 2. Lessee’s Grants and Releases of
Easements. 
 The first sentence of Section 14(f) of the Agreement is hereby amended by adding the following phrase:

“provided, further, that Lessee shall not be required to deliver the foregoing certification with respect to amendments to
reciprocal easement agreements, declarations, supplemental agreements, and other similar agreements (each, as applicable, the “REA Agreement”), so long as the applicable amendment does not modify the burdens or benefits under such
REA Agreement with respect to the applicable Site or otherwise increase the obligations or decrease the rights of the Lessor or the Lessee under such REA Agreement.” 

Section 3. Waiver. 

(a) The Parties acknowledge and agree that the Transaction Defaults, with the giving of notice and/or the passage of time, could constitute
defaults under some or all of the Operative Documents and/or the PSA. Subject to the satisfaction of the conditions set forth in Section 3(b) hereof, each Party hereby agrees to waive the Transaction Defaults. 

(b) Lessee agrees to indemnify, defend and hold harmless each of the other Parties from any third party liabilities, demands, actions, causes
of action, suits, claims, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees, court costs and litigation expenses) suffered or incurred by any of the Lessors as a result of or in connection with any
of the Transaction Defaults set forth herein. 
 (c) The Parties agree that the limited waiver set forth in this Agreement shall be limited
precisely as written to the Transaction Defaults set forth herein. Except as expressly set forth in this Section 3, the limited waiver set forth in this Section 3 shall not be deemed to be a consent to any amendment, waiver, or modification of
any other term or condition of the Agreement, any of the other Operative Documents or the PSA. 

  
 2 

 Section 4. Agreement in Full Force and Effect as Amended. 

Except as specifically amended hereby, the Agreement, the other Operative Documents and the PSA shall remain in full force and
effect. All references to the Agreement, the other Operative Documents and/or the PSA shall be deemed to mean the Agreement, the other Operative Documents and/or the PSA as modified hereby. The parties hereto agree to be bound, to the
extent applicable by the terms and conditions of the Agreement, the other Operative Documents and the PSA as amended by this Amendment, as though such terms and conditions were set forth herein. 

Section 5. Conditions Precedent. 

The Security Trustee acknowledges and consents to the terms of this Amendment. This Amendment shall not be effective until having been duly
executed by, and delivered to, the parties hereto, with the Acknowledgement and Consent fully executed. 
 Section 6. Capacity of
Trustee. 
 It is expressly understood and agreed by the parties hereto that (a) this Amendment is executed and delivered by U.S.
Bank Trust National Association, not individually or personally but solely as trustee of the Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on
the part of any Lessor is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of binding only such Lessor, (c) nothing herein contained shall
be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties
hereto, (d) U.S. Bank Trust National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by any Lessor in this Amendment and (e) under no circumstances shall U.S. Bank Trust National
Association be personally liable for the payment of any indebtedness or expenses of any Lessor or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by any Lessor under this Amendment or
any other related document. 
 Section 7. Miscellaneous. 

(a) This Amendment may be executed in any number of counterparts, and by the different Parties on the same or separate counterparts, each of
which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. Each of the Parties agrees that a signature transmitted to the other Parties or their respective counsel by facsimile
transmission or by “.PDF” shall be as effective to bind the Party whose signature was transmitted as a duly executed and delivered original. 

  
 3 

 (b) The descriptive headings of the various sections of this Amendment are inserted for
convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof. 
 (c) Each
provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any specific provision. 

[SIGNATURES FOLLOW ON NEXT PAGE] 

  
 4 

 IN WITNESS WHEREOF, each Lessor and the Lessee have caused this Amendment to be duly executed by
their respective officers all as of the day and year first above written. 
  

									
	LESSORS:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	JOSE A. GALARZA
		 	Title:	 	VICE PRESIDENT
	
	SRC REAL ESTATE (TX), LP, a Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	JOSE A. GALARZA
		 		 		 	Title:	 	VICE PRESIDENT
	
	SRC O.P. Corporation, a Delaware corporation
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Amendment] 

 IN WITNESS WHEREOF, each Lessor and the Lessee have caused this Amendment to be duly executed by
their respective officers all as of the day and year first above written. 
  

									
	LESSORS:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	SRC REAL ESTATE (TX), LP, a Delaware limited partnership
		
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
			
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
				
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
	
	SRC O.P. Corporation, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

		 	Name:	 	Scott E. Huckins
		 	Title:	 	Vice President

  
 [Signature Page to
Amendment] 

 
			
	LESSEE AND SERVICER:
	
	SEARS, ROEBUCK AND CO.,
	a New York corporation
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer

  
 [Signature Page to
Amendment] 

 
			
	DEPOSITOR:
	
	 SRC DEPOSITOR CORPORATION,
 a
Delaware corporation

		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

  
 [Signature Page to
Amendment] 

 ACKNOWLEDGMENT AND CONSENT 

The undersigned certificateholder of the SRC Commercial Mortgage Trust 2003-1 and the Security Trustee acknowledge and consent to the terms of
the attached Amendment. 
  

			
	SECURITY TRUSTEE:
	
	WELLS FARGO BANK, N.A.
		
	By:	 	Sears, Roebuck and Co., as Master Servicer under the Pooling and Servicing Agreement dated November 24, 2003
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	 Robert A. Riecker

	Its:	 	 Vice President, Controller and Chief Accounting Officer

	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	 Scott E. Huckins

	Title:	 	 Vice President

  
 [Signature Page to
Amendment] 

 ACKNOWLEDGMENT AND CONSENT 

The undersigned certificateholder of the SRC Commercial Mortgage Trust 2003-1 and the Security Trustee acknowledge and consent to the terms of
the attached Amendment. 
  

			
	SECURITY TRUSTEE:
	
	WELLS FARGO BANK, N.A.
		
	By:	 	Sears, Roebuck and Co., as Master Servicer under the Pooling and Servicing Agreement dated November 24, 2003
		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	SRC DEPOSITOR CORPORATION
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	 Scott E. Huckins

	Title:	 	 Vice President

  
 [Signature Page to
Amendment] 

 EXECUTION VERSION 

LIMITED WAIVER 
 THIS
LIMITED WAIVER (this “Agreement”), dated as of March 18, 2016, is entered into by and between (a) (i) in the case of any Site located in the State of Maryland, as to matters relating to the Site or the Site Lease, SRC O.P.
CORPORATION, a Delaware corporation and as to matters relating to the related Mortgage Note, SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust, acting on behalf of the applicable SUBI Portfolio; (ii) in the case of any Site
located in the State of Texas, SRC REAL ESTATE (TX), LP, a Delaware limited partnership; or (iii) in the case of any other Site, SRC Facilities Statutory Trust No. 2003-A, a Delaware statutory trust, acting on behalf of the applicable SUBI
Portfolio, in each case as lessor (each, as applicable, the “Lessor”), (b) SEARS, ROEBUCK AND CO., as lessee (the “Lessee”) and as document custodian, master servicer and special servicer (the
“Servicer”), and (c) SRC DEPOSITOR CORPORATION, a Delaware corporation (the “Depositor” and, together with each Lessor, the Lessee and the Servicer, the “Parties”). Capitalized terms used but not
defined herein have the meanings provided in the Master Lease Agreement (as defined below). 
 A. WHEREAS, each Lessor and the Lessee
entered into that certain Master Lease Agreement, dated as of November 24, 2003 (as may be further amended, supplemented, modified or restated from time to time, the “Master Lease”); 

B. WHEREAS, one or more Lease Defaults have occurred under the Master Lease, as more specifically set forth in
Section 1(a)-(j) of this Agreement.
 C. WHEREAS, the Lessee has requested and, subject to the
terms and conditions set forth herein, each of the Parties has agreed to waive the Lease Defaults. 
 NOW, THEREFORE, for and in
consideration of the premises and mutual agreements herein contained and for the purposes of setting forth the terms and conditions of this Agreement and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto, intending to be bound, hereby agree as follows: 
 1. Lease Defaults. 

(a) Thornton, CO (Store #1831): The parties acknowledge and agree that the encumbrance of the Thornton, CO (Store #1831) Site by that
certain Supplemental Agreement dated October 28, 2004 and recorded on October 28, 2004 as Document No. 2004-20001083660, constitutes a Lease Default under Section 8 of the Master Lease. 

(b) Peru, IL (Store #2121): The parties acknowledge and agree that the encumbrance of the Peru, IL (Store #2121) Site by that certain
Reciprocal Construction, Operation and Easement Agreement dated December 30, 1969 and recorded on May 8, 1970 as Doc. 560807 constitutes a Lease Default under the Master Lease. 

(c) Cape Girardeau, MO (Store #1822): The parties acknowledge and agree that the encumbrance of the Cape Girardeau, MO (Store #1822)
Site by that certain Restrictive Covenant and Right of Opportunity to Purchase dated June 24, 2004 and recorded on July 12, 2004 as Document No. 2004-10766 constitutes a Lease Default under the Master Lease. 

 (d) Gastonia, NC (Store #2017): The parties acknowledge and agree that the termination of
that certain Ground Sublease dated as of May 7, 1998 with respect to the Gastonia, North Carolina Store (Store #2017) Site constitutes a Lease Default under the Master Lease (the “Gastonia Default”). 

(e) Rockaway, NJ (Store #1764): The parties acknowledge and agree that the failure of that certain Lease dated February 13, 2015
between Lessee and Raymours Furniture Company, Inc., as amended per that certain First Lease Amendment dated as of May 6, 2015, and as further amended per that certain Second Lease Amendment dated as of June 16, 2015 (collectively, the
“Rockaway Sublease”) with respect to the Rockaway, NJ (Store #1764) Site to be expressly subordinate to the Master Lease and the extension of the option terms of the Rockaway Sublease beyond the term of the Master Lease constitutes
a Lease Default under the Master Lease. 
 (f) North Olmsted, OH (Store #1710): The parties acknowledge and agree that the right of
first refusal contained in that certain Lease dated August 20, 2009 between Lessee and George Group – Great Northern Ltd. with respect to the North Olmsted, OH (Store #1710) Site constitutes a Lease Default under the Master Lease. 

(g) Greenville, SC (Store #1595): The parties acknowledge and agree that the extension of the term of that certain Lease dated February
18, 2013 between Lessee and Forever 21 Retail, Inc. with respect to the Greenville, SC (Store #1595) Site beyond the term of the Master Lease constitutes a Lease Default under the Master Lease. 

(h) Lewisville, TX (Store #1076): The parties acknowledge and agree that the extension of the term of that certain Ground Lease dated
as of March 20, 2015 between Lessee and Kellan Restaurant Management Corp. with respect to the Lewisville, TX (Store #1076) Site beyond the term of the Master Lease constitutes a Lease Default under the Master Lease. 

(i) Shreveport, LA (Store #1077): The parties acknowledge and agree that the encumbrances contained in (x) that certain Agreement of
Certain Tract of Land dated May 30, 1975 between Sears, Roebuck and Co. and General Growth and (y) that certain Lease dated June 1, 1974 between Sears, Roebuck and Co. and General Growth, with respect to the Shreveport, LA (Store #1077) Site each
constitute a Lease Default under the Master Lease. 
 (j) Lands’ End Lease: The parties acknowledge and agree that the failure
of (x) that certain Master Lease Agreement (the “Lands’ End Master Lease”) dated as of April 4, 2014, but effective as of February 1, 2014 by and between Sears, Roebuck and Co. and Lands’ End, Inc. with respect to a
portion of the Sites encumbered by the Lands’ End Master Lease from time to time and (y) that certain Master Sublease Agreement (the “Lands’ End Master Sublease Agreement”) dated as of April 4, 2014, but effective as of
February 1, 2014 by and between Sears, Roebuck and Co. and Lands’ End, Inc. with respect a portion of the Sites encumbered by the Lands’ End Master Sublease from time to time, to each be expressly subordinate to the Master Lease
constitutes a Lease Default under the Master Lease. 
 (k) Des Moines, IA (Store #1012): The parties acknowledge and agree that the
failure of Lessee to obtain the consent of Merle Hay Mall, Inc. and/or Merle Hay Mall Limited Partnership to the conveyance to the applicable Lessor of certain real property interests relating to the Des Moines, IA (Store #1012) Site constitutes a
Lease Default under the Master Lease. 

  
 2 

 2. Limited Waiver. 

(a) The Parties acknowledge and agree that the Lease Defaults described in Section 1 hereof, with the giving of notice and/or the passage of
time, could constitute Lease Events of Default under the Master Lease. Subject to the satisfaction of the conditions set forth in Section 2(b) hereof, each Party hereby agrees to waive the Lease Defaults. 

(b) Lessee agrees to indemnify, defend and hold harmless each of the other Parties from any third party liabilities, demands, actions, causes
of action, suits, claims, losses, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees, court costs and litigation expenses) suffered or incurred by any of the Lessors as a result of or in connection with any
of the Lease Defaults set forth herein. 
 (c) The Parties agree that the limited waiver set forth in this Agreement shall be limited
precisely as written to the Lease Defaults set forth herein. Except as expressly set forth in this Section 2, the limited waiver set forth in this Section 2 shall not be deemed to be a consent to any amendment, waiver, or modification of any
other term or condition of the Master Lease or any of the other Operative Documents. 
 3. Ratification. Except as expressly modified
in this Agreement, the terms, provisions and conditions of the Master Lease, as heretofore amended, shall remain unchanged and in full force and effect. Except as herein specifically agreed, the Master Lease is hereby ratified and confirmed and
shall remain in full force and effect according to its terms. Except as provided in Section 2 hereof with respect to the Lease Defaults and the Transaction Defaults set forth herein, the execution, delivery and effectiveness of this Agreement
shall not operate as a waiver of any right, power or remedy of the Lessors under the Master Lease or any of the other Operative Documents. 

4. Capacity of Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered
by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein
made on the part of any Lessor is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose of binding only such Lessor, (c) nothing herein
contained shall be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by
the parties hereto, (d) U.S. Bank Trust National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by any Lessor in this Agreement and (e) under no circumstances shall U.S.
Bank Trust National Association be personally liable for the payment of any indebtedness or expenses of any Lessor or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by any Lessor under
this Agreement or any other related document 

  
 3 

 5. Miscellaneous. 

(a) Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original, but all of
which when taken together shall constitute one instrument. Each of the Parties agrees that a signature transmitted to the other Parties or their respective counsel by facsimile transmission or by “.PDF” shall be as effective to bind the
Party whose signature was transmitted as a duly executed and delivered original. 
 (b) Severability of Provisions. Each provision of
this Agreement shall be severable from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 

(c) Construction. The headings of this Agreement are for the purposes of reference only and shall not affect the construction of this
Agreement. 
 (d) Incorporation. This Agreement shall form a part of the Master Lease, and all references to the Master Lease
shall mean the Master Lease as hereby modified. 
 [Signatures Immediately Follow.] 

  
 4 

 IN WITNESS WHEREOF, each of the Parties have caused this Agreement to be duly executed by their
respective officers all as of the day and year first above written. 
  

									
	LESSORS:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	 /s/ JOSE A. GALARZA

		 	Name:	 	JOSE A. GALARZA
		 	Title:	 	VICE PRESIDENT

  

									
	SRC REAL ESTATE (TX), LP, a Delaware limited partnership
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
		 		 	By:   	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	 /s/ JOSE A. GALARZA

		 		 		 	Name:	 	JOSE A. GALARZA
		 		 		 	Title:	 	VICE PRESIDENT

  

									
	SRC O.P. Corporation, a Delaware corporation
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 [Signature Page to
Limited Waiver] 

 IN WITNESS WHEREOF, each of the Parties have caused this Agreement to be duly executed by their
respective officers all as of the day and year first above written. 
  

							
	LESSORS:
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust with series
		
	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	

  

									
	SRC REAL ESTATE (TX), LP, a Delaware limited partnership
	By:	 	SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
		 	By:	 	SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
		 		 	By:	 	U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	

  

							
	SRC O.P. Corporation, a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

		 	Name:	 	Scott E. Huckins
		 	Title:	 	Vice President

  
 [Signature Page to
Limited Waiver] 

 
			
	LESSEE AND SERVICER:
	
	SEARS, ROEBUCK AND CO.,
	a New York corporation
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer

  
 [Signature Page to
Limited Waiver] 

 
			
	DEPOSITOR:
	
	SRC DEPOSITOR CORPORATION,
	a Delaware corporation
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President

  
 [Signature Page to
Limited Waiver] 

 ACKNOWLEDGMENT AND CONSENT 

The undersigned certificateholders of the SRC Commercial Mortgage Trust 2003-1 and the Security Trustee acknowledge and consent to the terms
of the attached Agreement. 
  

			
	SECURITY TRUSTEE:
	
	WELLS FARGO BANK, N.A.
		
	By:	 	Sears, Roebuck and Co., as Master Servicer under the Pooling and Servicing Agreement dated November 24, 2003
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	 Robert A. Riecker

	Its:	 	 Vice President, Controller and Chief Accounting Officer

	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	 Scott E. Huckins

	Title:	 	 Vice President

  
 [Signature Page to
Limited Waiver] 

 ACKNOWLEDGMENT AND CONSENT 

The undersigned certificateholders of the SRC Commercial Mortgage Trust 2003-1 and the Security Trustee acknowledge and consent to the terms
of the attached Agreement. 
  

			
	SECURITY TRUSTEE:
	
	WELLS FARGO BANK, N.A.
		
	By:	 	Sears, Roebuck and Co., as Master Servicer under the Pooling and Servicing Agreement dated November 24, 2003
		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	SRC DEPOSITOR CORPORATION
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	 Scott E. Huckins

	Title:	 	 Vice President

  
 [Signature Page to
Limited Waiver] 

 Exhibit 25 

Specified Organizational Document Provisions 

The following sections and schedules of the Limited Liability Company Operating Agreement of KCD IP, LLC: 

5(b), 5(c), 6, 7, 8, 9, 10, 14, 16, 17, 20, 21, 22, 23, 24, 25, 26, 28, 29, 30, 31, Schedule A and Schedule C. 

 Exhibit 26 

Press Release 
 [See
Attached] 

 Exhibit 99.1 

NEWS MEDIA CONTACT: 
 Sears
Holdings Public Relations 
 (847) 286-8371 

FOR IMMEDIATE RELEASE: 

March 18, 2016 
 SEARS
HOLDINGS ENTERS INTO 
 PLAN PROTECTION ARRANGEMENT WITH PBGC 

HOFFMAN ESTATES, Ill., – Sears Holdings Corporation (the “Company”) (NASDAQ: SHLD) today announced that it has entered into a five-year pension
plan protection and forbearance agreement (the “Definitive Agreement”) with the Pension Benefit Guaranty Corporation (“PBGC”) implementing the terms of the previously announced term sheet, dated as of September 4, 2015,
entered into by the Company and PBGC. Pursuant to the Definitive Agreement, the Company will continue (as it has since at least 2006) to protect, or “ring-fence,” pursuant to customary covenants, the assets of certain special purpose
subsidiaries (the “Relevant Subsidiaries”) holding real estate and/or intellectual property assets. 
 Also under the Definitive Agreement, the
Relevant Subsidiaries have granted PBGC a springing lien on the ring-fenced assets, which lien will be triggered only by (a) failure to make required contributions to the Company’s pension plan (the “Plan”), (b) prohibited
transfers of ownership interests in the Relevant Subsidiaries, (c) termination events with respect to the Plan, and (d) bankruptcy events with respect to the Company or certain of its material subsidiaries. 

The Company will continue to make required contributions to the Plan, the scheduled amounts of which are not affected by the Definitive Agreement. The Company
has consistently managed its business such that it is able to meet its obligations to the Plan despite the historically unprecedented low interest rate environment. Although the Company believes that no basis exists under ERISA for an involuntary or
distress termination of the Plan, PBGC has further agreed to forbear from initiating an involuntary termination of the Plan, except upon the occurrence of specified conditions. 

“Concluding this agreement is another positive step forward for the Company; it preserves the Company’s operational and financial flexibility to
continue with the transformation and provides meaningful protections to the PBGC.” said Edward S. Lampert, Sears Holdings’ Chairman and Chief Executive Officer. 

Forward-Looking Statements 
 This press release contains
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Definitive Agreement with the PBGC. The Company cautions that these forward-looking statements are subject to
risks, uncertainties and assumptions, many of which are beyond its control, that may cause actual results to differ materially from those indicated in the forward-looking statements. Additional information concerning other factors is contained in
the Company’s annual report on Form 10-K for the fiscal year ended January 30, 2016 and subsequent filings with the SEC. The Company intends the forward looking statements to speak only as of the time made and, except as required by law,
do not undertake to update or revise them as more information becomes available. 

 About Sears Holdings Corporation 

Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to
serve our members - wherever, whenever and however they want to shop. Sears Holdings is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears and
Kmart as well as with other retail partners across categories important to them. The Company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United
States. For more information, visit www.searsholdings.com. 
 ### 

 PBGC, Sears Reach Agreement on Financial Protection for Pension Plan 

FOR IMMEDIATE RELEASE 
 March 18, 2016 

WASHINGTON - The Pension Benefit Guaranty Corporation and Sears Holdings Corp. have reached a final agreement that provides substantial protections for the
Sears pension plan, which covers nearly 200,000 people. A tentative arrangement was first announced in September 2015. After extensive talks, the agreement is now final. 

“This represents what sponsors and PBGC can achieve when we work together for the benefit of current and future retirees,” said PBGC Director Tom
Reeder. “We applaud Sears for working with us so closely on this issue.” 
 According to the agreement, Sears will continue to protect the assets
of certain special purpose subsidiaries, which hold real estate and/or intellectual property assets. 
 Additionally, the subsidiaries will grant springing
liens on the protected assets in favor of PBGC. The liens will be triggered only by failure to make required contributions to the plan, prohibited transfers of ownership interests in the subsidiaries, termination of the plan, or bankruptcy of the
company or certain of its subsidiaries. While Sears is currently making required minimum contributions to its pension plan, the plan’s assets would not be sufficient to satisfy all benefits if it were to terminate. 

PBGC works collaboratively with sponsors to help ensure the continuation of their plans. One of the ways the agency achieves this is to monitor transactions
or events that may pose an increased risk to plans and the pension insurance system. If a transaction or other event could increase the risk of plan failure, PBGC works with the sponsor to structure meaningful financial protections for plan
participants and the pension insurance program. 
 About PBGC 

PBGC protects the pension benefits of more than 40 million Americans in private-sector pension plans. The agency is directly responsible for paying the
benefits of about 1.5 million people in failed pension plans. PBGC receives no taxpayer dollars and never has. Its operations are financed by insurance premiums, investment income, and with assets and recoveries from failed single-employer
plans. For more information, visit PBGC.gov. 
 — ### — 

PBGC No. 16-03 

 Exhibit 27 

Mortgage Loan Exceptions 

None. 

 Exhibit 28 

Acknowledgment of Liability 

[See Attached] 

 EXECUTION VERSION 

Acknowledgement of Joint and Several Liability 

Reference is made to that certain Pension Plan Protection and Forbearance Agreement, dated as of the date hereof (as amended, supplemented or
otherwise modified from time to time, the “PPPFA”), among Sears Holdings Corporation (the “Company”), SRC Depositor Corporation, SRC O.P. Corporation, SRC Real Estate (TX), LP, SRC Real Estate Holdings (TX), LLC,
SRC Facilities Statutory Trust No. 2003-A, Sears, Roebuck and Co., KCD IP, LLC, Sears Brands, LLC (collectively, the “Sears Parties”); and the Pension Benefit Guaranty Corporation (“PBGC”). The Company, the Sears
Parties and PBGC are sometimes referred to herein collectively as the “Parties,” and individually as a “Party.” Capitalized terms not otherwise defined herein shall have the meanings given to such terms in the
PPPFA. 
 Pursuant to Section 6.05 of the PPPFA, each of the Sears Parties acknowledges that (a) it is a member of the Company’s
Controlled Group and (b) pursuant to the terms of the Employee Retirement Security Act of 1974 (as amended from time to time, together with any final regulations promulgated thereunder), it is jointly and severally contingently liable to PBGC for
the PBGC UBL Claims. 
 Each of the Sears Parties hereby expressly reserves all rights to contest the amounts of the PBGC UBL Claims
(including without limitation the method by which the amounts of the PBGC UBL Claims are calculated). 
 It is expressly understood and
agreed by the Parties that (a) this Acknowledgement of Joint and Several Liability is executed and delivered by U.S. Bank Trust National Association, not individually or personally but solely as trustee of the SRC Trust, in the exercise of the
powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements therein made on the part of the SRC Trust, SRC R.E. and SRC Holdings is made and intended not as personal representations, undertakings and
agreements by U.S. Bank Trust National Association but is made and intended for the purpose of binding only the SRC Trust, (c) nothing herein contained or in any Transaction Document shall be construed as creating any liability on U.S. Bank Trust
National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the Parties hereto, (d) U.S. Bank Trust National Association has made no
investigation as to the accuracy or completeness of any representations and warranties made by the SRC Trust, SRC R.E. or SRC Holdings in this Acknowledgement of Joint and Several Liability and (d) under no circumstances shall U.S. Bank Trust
National Association be personally liable for the payment of any indebtedness or expenses of the SRC Trust, SRC R.E. or SRC Holdings or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by
the SRC Trust, SRC R.E. or SRC Holdings under this Acknowledgement of Joint and Several Liability or any other related document. 

[Remainder of Page Intentionally Left Blank] 

			
	SEARS HOLDINGS CORPORATION
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC O.P. CORPORATION
		
	By:	 	  

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC REAL ESTATE (TX), LP
	
	By: SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
	
	By: SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Acknowledgement of
Liability] 

			
	SEARS HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC O.P. CORPORATION
		
	By:	 	 /s/ Scott E. Huckins

	Name:	 	Scott E. Huckins
	Title:	 	Vice President
	
	SRC REAL ESTATE (TX), LP
	
	By: SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
	
	By: SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Acknowledgement of
Liability] 

			
	SEARS HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC DEPOSITOR CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC O.P. CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC REAL ESTATE (TX), LP
	
	By: SRC REAL ESTATE HOLDINGS (TX), LLC, a Delaware limited liability company, its general partner
	
	By: SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	 /s/ JOSE A. GALARZA

	Name:	 	JOSE A. GALARZA
	Title:	 	VICE PRESIDENT

  
 [Acknowledgement of
Liability] 

			
	SRC REAL ESTATE HOLDINGS (TX), LLC
	
	By: SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	 /s/ JOSE A. GALARZA

	Name:	 	JOSE A. GALARZA
	Title:	 	VICE PRESIDENT
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A
	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
		
	By:	 	 /s/ JOSE A. GALARZA

	Name:	 	JOSE A. GALARZA
	Title:	 	VICE PRESIDENT
	
	SEARS ROEBUCK AND CO.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	KCD IP, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SEARS BRANDS, L.L.C.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Acknowledgement of
Liability] 

			
	SRC REAL ESTATE HOLDINGS (TX), LLC
	
	By: SRC FACILITIES STATUTORY TRUST NO. 2003-A, a Delaware statutory trust acting only with respect to the applicable SUBI Portfolio, its sole member
	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as SUBI Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SRC FACILITIES STATUTORY TRUST NO. 2003-A
	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SEARS ROEBUCK AND CO.
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer
	
	KCD IP, LLC
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President
	
	SEARS BRANDS, L.L.C.
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President

  
 [Acknowledgement of
Liability] 

			
	PENSION BENEFIT GUARANTY CORPORATION
		
	By:	 	 /s/ Karen L. Morris

	Name:	 	Karen L. Morris
	Title:	 	Acting CNR

  
 [Acknowledgement of
Liability] 

 Exhibit 29 

Sears Re Instruction Letter

[See Attached] 

 Instruction 

Reference is made to that certain Indenture, dated as of May 18, 2006 (as amended, supplemented or otherwise modified from time to time, the
“Indenture”), between KCD IP, LLC (the “Issuer”) and U.S. Bank National Association, as trustee (the “Trustee”), pursuant to which the Issuer issued $1,800,000,000 aggregate principal amount of
6.90% KCD IP, LLC Asset-Backed Notes (the “Notes”), which notes are now held by Sears Reinsurance Company Ltd., a Bermuda Class 3 insurer (“Sears Re”). 

Reference is further made to that certain Pension Plan Protection and Forbearance Agreement, dated as of March 18, 2016 (as amended, restated,
supplemented or otherwise modified from time to time, the “PPPFA”), by and among Sears Holdings Corporation, a Delaware corporation and the indirect parent of Sears Re (the “Company”), the subsidiaries of the
Company party thereto (together with the Company, the “Sears Parties”), and Pension Benefit Guaranty Corporation (“PBGC”), pursuant to which the Company and the other Sears Parties have offered to provide PBGC with
certain enhanced protections with respect to the Sears Holdings Pension Plan (as amended and restated effective January 1, 2014, the “Pension Plan”) in exchange for PBGC’s agreement to forbear from initiating termination
proceedings with respect to the Pension Plan pursuant to ERISA Section 4042 for the term and under the conditions provided in the PPPFA. 

Pursuant to section 9.02(i) of the PPPFA, 

(i) the Company hereby instructs and directs the board of directors of SRe Holding Corporation to cause SRe Holding Corporation to
instruct and direct Sears Re not to enter into or agree to any amendment to (or waiver under) the Indenture that would reasonably be anticipated to have a materially adverse impact upon the interests of PBGC, and 

(ii) SRe Holding Corporation hereby instructs and directs the board of directors of Sears Re to cause Sears Re not to enter into or agree
to any amendment to (or waiver under) the Indenture that would reasonably be anticipated to have a materially adverse impact upon the interests of PBGC. 

 
			
	SEARS HOLDINGS CORPORATION
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President, Controller and Chief Accounting Officer
	
	SRE HOLDING CORPORATION
		
	By:	 	 /s/ Robert A. Riecker

	Name:	 	Robert A. Riecker
	Title:	 	Vice President

 [Instruction Letter]Exhibit 10.19

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

AGREEMENT made as of the _____ day of ______________
between Foot Locker, Inc. (the "Company"), a New York corporation with its principal office located at 112 West 34th
Street, New York, New York, and __________________ ("Executive").

 

WITNESSETH:

 

WHEREAS, the Company believes that the establishment
and maintenance of a sound and vital management of the Company is essential to the protection and enhancement of the interests
of the Company and its shareholders;

 

WHEREAS, the Company wishes to provide for
the continued employment of the Executive with the Control Group, and the Executive is willing to commit himself to continue to
serve the Company; and

 

WHEREAS, this Agreement supersedes any employment
agreement, severance plan, policy and/or practice of the Company in effect on the date hereof for the Executive.

 

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

 

1.           Definitions.
The following terms shall have the meanings set forth in this section as follows:

 

(a)         "Affiliate"
shall mean the Company and any entity affiliated with the Company within the meaning of Code Section 414(b) with respect to a controlled
group of corporations, Code Section 414(c) with respect to trades or businesses under common control with the Company, Code Section
414(m) with respect to affiliated service groups and any other entity required to be aggregated with the Company under Section
414(o) of the Code. No entity shall be treated as an Affiliate for any period during which it is not part of the controlled group,
under common control or otherwise required to be aggregated under Code Section 414.

 

(b)         "Beneficiary"
shall mean the individual designated by the Executive, on a form acceptable by the Committee, to receive benefits payable under
this Agreement in the event of the Executive's death. If no Beneficiary is designated, the Executive's Beneficiary shall be his
spouse, or if the Executive is not survived by a spouse, the Executive's estate.

 

(c)         "Board"
shall mean the Board of Directors of the Company.

 

(d)         "Cause"
shall mean (with regard to the Executive's Termination of Employment with the Control Group): (i) the refusal or willful failure
by the Executive to substantially perform his duties, (ii) with regard to the Control Group or any of their assets or businesses,
the Executive's dishonesty, willful misconduct, misappropriation, breach of fiduciary duty or fraud, (iii) the willful breach by
the Executive of any material provision of this Agreement, which breach is not cured within ten (10) business days from the date
of the Company's notice of the occurrence of such breach to the Executive, or (iv) the Executive's conviction of a felony
(other than a traffic violation) or any other crime involving, in the sole discretion of the Committee, moral turpitude.

 

     

     

    

 

(e)         "Change
in Control" shall have the meaning set forth in Appendix A attached hereto.

 

(f)         "Code"
shall mean the Internal Revenue Code of 1986, as amended and as hereafter amended from time to time.

 

(g)         "Committee"
shall mean the Compensation and Management Resources Committee of the Board or an administrative committee appointed by the Compensation
and Management Resources Committee.

 

(h)         "Competition"
shall mean participating, directly or indirectly, as an individual proprietor, stockholder, officer, employee, director, joint
venturer, investor, lender, or in any capacity whatsoever (within the United States of America or in any other country where any
of the Executive's former employing members of the Control Group does business) in (A) a business in competition with the retail,
catalog, or on-line sale of athletic footwear, athletic apparel and sporting goods conducted by the Control Group (the "Athletic
Business"), or (B) a business that in the prior fiscal year supplied product to the Control Group for the Athletic Business
having a value of $20 million or more at cost to the Company or any of its subsidiaries or affiliates; provided, however, that
such participation shall not include (X) the mere ownership of not more than 1 percent of the total outstanding stock of
a publicly held company; (Y) the performance of services for any enterprise to the extent such services are not performed, directly
or indirectly, for a business in competition with the Athletic Business or for a business which supplies product to the Control
Group for the Athletic Business; or (Z) any activity engaged in with the prior written approval of the Chief Executive Officer
of the Company.

 

(i)          "Control
Group" shall mean the Company and its Affiliates.

 

(j)          "Good
Reason" shall mean (with respect to an Executive's Termination of Employment with the Control Group):

 

(i)          Prior
to a Change in Control, (A) a reduction in the Executive's rate of base salary as payable from time to time, other than a reduction
that occurs in connection with, and in the same percentage as, an across-the-board reduction over any three-year period in the
base salaries of all executives of the Company of a similar level and where the reduction is less than 20 percent of the Executive's
base salary measured from the beginning of such three-year period; or (B) a material and adverse change in the nature and status
of the Executive's authority or responsibilities, except temporarily as a result of the Executive's disability, illness or other
absence.

 

    	 	2	 

     

    

 

(ii)         On
or after a Change in Control, (A) any reduction in the Executive’s rate of base salary as payable from time to time; (B)
a failure of the Company to continue in effect the benefits applicable to, or the Company's reduction of the benefits applicable
to, the Executive under any benefit plan or arrangement (including without limitation, any pension, life insurance, health or disability
plan) in which the Executive participates as of the date of the Change in Control without implementation of a substitute plan(s)
providing materially similar benefits in the aggregate to those discontinued or reduced, except for a discontinuance of, or reduction
under, any such plan or arrangement that is legally required, and provided that in either such event the Company provides similar
benefits (or the economic effect thereof) to the Executive in any manner determined by the Company; or (C) any material demotion
of the Executive or any material reduction in the Executive's authority or responsibility, except temporarily as a result of the
Executive's disability, illness or other absence.

 

(iii)        At
any time, (A) a reduction in the Executive's annual bonus classification level other than in connection with a redesign of the
applicable bonus plan that affects all employees at the Executive's bonus level; (B) the failure of any successor to the Company
to assume in writing the obligations hereunder; or (C) the Company’s
failure to renew this Agreement.

 

(k)         "Non-Competition
Period" shall mean (i) the period the Executive is employed by the Control Group and (ii) at any time prior to a Change in
Control, the one (1) year period commencing on the Termination Date.

 

(l)          "Salary"
shall mean an Executive's base cash compensation rate for services paid to the Executive by the Company or an Affiliate at the
time of his Termination of Employment from the Control Group. Salary shall not include commissions, bonuses, overtime pay, incentive
compensation, benefits paid under any qualified plan, any group medical, dental or other welfare benefit plan, noncash compensation
or any other additional compensation but shall include amounts reduced pursuant to an Executive's salary reduction agreement under
Sections 125, 132(f) or 401(k) of the Code (if any) or a nonqualified elective deferred compensation arrangement to the extent
that in each such case the reduction is to base salary.

 

(m)        “Section
409A” shall mean Section 409A of the Code including the regulations issued thereunder by the Department of the Treasury.

 

    	 	3	 

     

    

 

(n)         "Severance
Benefit" shall mean (i) in the case of the Executive's Termination of Employment with the Control Group that does not occur
within the 24- month period following a Change in Control and such termination is a Termination of Employment by the Company without
Cause or by the Executive for Good Reason, 1.0 times the Executive’s annual Salary; or (ii) in the case of the Executive's
Termination of Employment with the Control Group that occurs within the 24-month period following a Change in Control and such
termination is a Termination of Employment by the Company without Cause or by the Executive for Good Reason, 1.0 times the Executive’s
annual Salary plus annual bonus at target under the Annual Incentive Compensation Plan or other annual incentive plan applicable
to the Executive. 

 

(o)         “Substantially
All of the Assets of the Company” shall mean at least 66 percent of the total gross fair market value of the assets of the
Company immediately prior to the acquisition by a non-related third party, determined without regard to any liabilities associated
with such assets.

 

(p)         "Termination
Date" shall mean in the case of the Executive's death, the date of death, or in all other cases, the date specified in the
Notice of Termination of Employment; provided, however, that if the Executive’s employment is terminated by the Company due
to disability as provided in Section 7(b), the date specified in the Notice of Termination shall be at least thirty (30) days from
the date the Notice of Termination is given to the Executive.

 

(q)         "Termination
of Employment" shall mean separation from service with the Control Group in accordance with Section 409A for any reason,
including, but not limited to retirement, death, disability, resignation or dismissal with or without Cause; provided, however,
that if an Employer is no longer a member of the Control Group and the Participant is transferred in connection with the sale
of the assets of an Employer and the successor assumes the obligations hereunder in accordance with Section 13 hereof, a Termination
of Employment shall not occur until termination of employment with the new control group.

 

2.           Term.
The initial term of this Agreement shall commence on ____________ and shall end on ____________, unless further extended or sooner
terminated as hereinafter provided. The term shall be automatically renewed for additional one-year periods unless the Company
notifies the Executive three months prior to the end of the term that the term shall not be renewed. In no event, however, shall
the term of the Executive's employment extend beyond the date of the Executive's actual retirement under a retirement plan of the
Company.

 

3.           Position
and Duties. The Executive shall serve as ______________ of the Company and shall have such responsibilities, duties and authority
as he may have as of the effective date of this Agreement (or any comparable position to which he may be assigned after the effective
date of this Agreement) and as may from time to time be assigned to the Executive by the _______________ of the Company that are
consistent with such responsibilities, duties and authority. The Executive shall devote substantially all of his working time and
efforts to the business and affairs of the Company and its Affiliates.

 

    	 	4	 

     

    

 

4.           Place
of Performance. In connection with the Executive's employment by the Company, the Executive shall be based in the New York
metropolitan area, except for required travel on Company business.

 

5.           Compensation
and Related Matters

 

(a)         Salary.
During the period of the Executive's employment hereunder, the Company or an Affiliate shall pay to the Executive a salary at a
rate not less than the rate in effect as of the effective date of this Agreement or such higher rate as may from time to time be
determined by the Company, such salary to be paid in accordance with the Company's normal payroll practices.

 

(b)         Expenses.
During the term of the Executive's employment hereunder, subject to Section 20 hereof, the Executive shall be entitled to receive
prompt reimbursement for all reasonable and customary expenses incurred by the Executive in performing services hereunder, including
all expenses of travel and living expenses while away from home on business or at the request of and in the service of the Company
or an Affiliate, provided that such expenses are incurred and accounted for in accordance with the policies and procedures established
by the Company.

 

(c)         Other
Benefits. The Company shall maintain in full force and effect, and the Executive shall be entitled to continue to participate
in, all of the employee benefit plans and arrangements in effect on the date hereof in which the Executive participates or plans
or arrangements providing the Executive with at least equivalent benefits thereunder (including without limitation each retirement
plan, supplemental and excess retirement plans, annual and long-term incentive compensation plans, stock option and purchase plans,
group life insurance and accident plan, medical and dental insurance plans, and disability plan), and the Company shall
not make any changes in such plans or arrangements that would adversely affect the Executive's rights or benefits thereunder; provided,
however, that such a change may be made, including termination of such plans or arrangements, to the extent permitted by the respective
plan or arrangement, if it occurs pursuant to a program applicable to all comparably situated executives of the Company and does
not result in a proportionately greater reduction in the rights of or benefits to the Executive as compared with any other comparably
situated executive of the Company. The Executive shall be entitled to participate in or receive benefits under any employee benefit
plan or arrangement made available by the Company in the future to its comparably situated executives and key management employees,
subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. Nothing
paid to the Executive under any plan or arrangement presently in effect or made available in the future shall be deemed to be in
lieu of the salary payable to the Executive pursuant to Section 5(a). Any payments or benefits payable to the Executive hereunder
in respect of any calendar year during which the Executive is employed by the Company for less than the entire year shall, unless
otherwise provided in the applicable plan or arrangement, be prorated in accordance with the number of days in such calendar year
during which he is so employed.

 

    	 	5	 

     

    

 

(d)         Vacations.
The Executive shall be entitled to no less than the number of vacation days in each calendar year that is determined in accordance
with the Company's vacation policy as in effect on the date hereof. The Executive shall also be entitled to all paid holidays and
personal days given by the Company to its executives.

 

6.           Offices.
Subject to Sections 3 and 4, the Executive agrees to serve without additional compensation, if elected or appointed thereto, as
a director of the Company and any of its Affiliates and in one or more executive offices of any of the Company's Affiliates.

 

7.           Termination
of Employment. The Executive's employment hereunder may be terminated without any breach of this Agreement only upon the following
circumstances:

 

(a)         Death.
The Executive's employment hereunder shall automatically terminate upon his death.

 

(b)         Disability.
If, as a result of the Executive's incapacity due to physical or mental illness as determined by the Company in its sole discretion,
the Executive shall have been absent from his duties hereunder on a full-time basis for a period of six consecutive months, and
within 30 days after written Notice of Termination of Employment is given (which may occur before or after the end of such six-month
period) shall not have returned to the performance of his duties hereunder on a full-time basis, the Company may immediately
terminate the Executive's employment hereunder.

 

(c)         Cause.
The Company may terminate the Executive's employment hereunder for Cause by, at any time at its election within six months
after the Company shall obtain knowledge of the grounds for termination, giving the Executive notice of its intention to terminate
the Executive for Cause and stating the date of Termination of Employment and the grounds for termination.

 

(d)         Good
Reason. The Executive may terminate his employment hereunder for Good Reason upon 30 days' prior written notice to the Company;
provided, however, that prior to a Change in Control, if the Company corrects the matter that has given rise to the Good Reason
event, and makes the Executive whole for any loss to the Executive resulting from such Good Reason event, the Executive may not
so terminate his employment.

 

(e)         Without
Cause. The Company may terminate the Executive's employment hereunder without Cause upon 30 days' prior written notice to the
Executive.

 

    	 	6	 

     

    

 

(f)         Without
Good Reason. The Executive may terminate his employment hereunder without Good Reason upon 30 days' prior written notice to
the Company.

 

Any termination of the Executive’s
employment by the Company or by the Executive (other than termination pursuant to Section 7(a)) shall be communicated by written
Notice of Termination to the other party hereto in accordance with Section 19. For purposes of this Agreement, a "Notice of
Termination" shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and
shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
Employment under the provision so indicated. Notwithstanding anything in this Agreement to the contrary, if the Company becomes
obligated to make any payment to the Executive pursuant to the terms hereof at or prior to the expiration of this Agreement, then
this Agreement shall remain in effect until all of the Company's obligations hereunder are fulfilled.

 

8.           Benefits
Upon Termination of Employment.

 

(a)         Death.
In the event of the Executive's Termination of Employment with the Control Group due to his death, the Company shall pay any amounts
due to the Executive under Section 5 through the date of his death in accordance with the payment provisions of Section 5 and Section
13.

 

(b)         Disability.
In the event of the Executive's Termination of Employment with the Control Group under Section 7(b), the Company shall pay any
amounts due to the Executive under Section 5 through the Termination Date in accordance with the payment provisions of Section
5 and shall have no other obligation to the Executive or his dependents other than amounts due, if any, under the Company's long-term
disability plan, and any benefits offered by the Company under its then policy to employees who become disabled while employed
by the Company.

 

(c)         Cause.
In the event the Executive's employment with the Control Group is terminated for Cause, the Company shall pay any amounts due to
the Executive under Section 5 through the Termination Date in accordance with the payment provisions of Section 5 and shall have
no other obligation to the Executive or his dependents other than any amounts, if any, due to Executive under its then existing
policies to employees whose employment is terminated for Cause or under the specific terms of any welfare, pension, fringe benefit
or incentive plan. Other than as provided in the preceding sentence, in the event the Executive's employment is terminated for
Cause, he shall not be entitled to the benefits and payments provided under Section 8(g) below.

 

(d)         Without
Cause or For Good Reason. In the event the Executive's employment with the Control Group is terminated by the Company without
Cause, or the Executive terminates employment with the Control Group within 60 days after the occurrence of a Good Reason event
with regard to the Executive, the Company shall pay any amounts due to the Executive under Section 5 through the Termination Date
in accordance with the payment provisions of Section 5 and shall pay the Executive a Severance Benefit as provided in Section 8(f)
below.

 

    	 	7	 

     

    

 

(e)         Following
a Change in Control. Notwithstanding anything to the contrary contained herein, if, within 24 months following a Change in
Control, the Executive’s employment with the Control Group is terminated without Cause or if the Executive terminates
employment with the Control Group within sixty (60) days after the occurrence of a Good Reason event with regard to the Executive,
(i) the Executive shall receive his Severance Benefit as provided in Section 8(f) below and (ii) the restrictions on Competition
and no-hire contained in Sections 9(a)(i) and 9(b), respectively, shall not apply.

 

(f)         Timing
and Form of Payment. The Executive shall receive payment of his Severance Benefit in a lump sum payment within 10 days following
the six-month anniversary of the Termination Date, provided that the Executive has signed and returned to the Company the release
provided for in Section 12 in a form acceptable to the Company (the “Release”). The Release shall be provided to the
Executive within seven (7) days following the Termination Date. In order to receive his Severance Benefit, the Executive will be
required to sign the Release within twenty-one (21) or forty-five (45) days after the date it is provided to him, whichever is
applicable under applicable law, and not revoke the Release within the seven (7) day period following the date the Executive signs
the Release. If the Company has not received from the Executive an effective Release as of the six-month anniversary of the Termination
Date, no Severance Benefit shall be paid to the Executive.

 

(g)         Except
as set forth below and other than in cases where the Executive's employment with the Control Group is terminated pursuant to Sections
7(a), 7(b), 7(c) or 7(f), the Company shall provide the Executive with post-termination medical and dental benefits in a manner
intended to satisfy the requirements of Code Sections 105(h) and 409A as follows: (i) immediately following the Termination Date,
the Executive will be entitled to elect such continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act
of 1985, as amended (“COBRA”), subject to the terms and conditions of the Company’s medical and dental benefit
plans and the provisions of COBRA; (ii) if the Executive elects COBRA continuation coverage, he will pay the applicable COBRA premiums
during the period that his medical and dental benefits are continued pursuant to COBRA; and (iii) for each month that his medical
and dental benefits are continued pursuant to COBRA, but not exceeding 12 months, the Company will pay to the Executive, on a monthly
basis, the difference in the amount of COBRA premiums he pays and the amount the Executive would have paid for such medical and
dental coverage as an active employee for such month.

 

    	 	8	 

     

    

 

Notwithstanding anything else herein, the
Executive shall not be entitled to any benefits following his Termination Date other than the benefits provided in Section 8
and, without limiting the generality of the foregoing, the Executive specifically shall not be entitled to continue to participate
in any group disability or voluntary accidental death or dismemberment insurance plan he participated in prior to his Termination
Date. Without limiting the generality of the foregoing, the Executive shall not accrue additional benefits under any pension plan
of the Company or an Affiliate (whether or not qualified under Section 401(a) of the Code) following his Termination Date, provided,
however, that to the extent provided for under any applicable plan, the amount of any Severance Benefit may be included
in the Executive's earnings for purposes of calculating the Executive's benefit under the Foot Locker Retirement Plan, the Foot
Locker Excess Cash Balance Plan, and the Foot Locker 401(k) Plan.

 

(h)         In
the event of the Executive's death after becoming eligible for the Severance Benefit described in Section 8(f) and prior to payment
of such amount, such Severance Benefit shall be paid to the Executive's Beneficiary.

 

(i)          Notwithstanding
anything else herein, to the extent the Executive would be subject to the excise tax under Section 4999 of the Code on the amounts
in Section 8(f) and such other amounts or benefits he received from the Company and its Affiliates required to be included in the
calculation of parachute payments for purposes of Sections 280G and 4999 of the Code, the amounts provided under this Agreement
shall be automatically reduced to an amount one dollar less than that which, when combined with such other amounts and benefits
required to be so included, would subject the Executive to the excise tax under Section 4999 of the Code if, and only if, the reduced
amount received by the Executive on a net after-tax basis after taking into account federal, state and local income and social
security taxes at the maximum marginal rates would be greater than the unreduced amount to be received by the Executive on a net
after-tax basis after taking into account federal, state and local income and social security taxes at the maximum marginal rates
minus the excise tax payable under Section 4999 of the Code on such amount and the other amounts and benefits received by the Executive
and required to be included in the calculation of a parachute payment for purposes of Sections 280G and 4999 of the Code.

 

    	 	9	 

     

    

 

9.           Non-Competition
and Confidentiality.

 

(a)          (i)          The
Executive agrees that he shall not engage in Competition during the Non-Competition Period, subject to the Company's option to
waive all or any portion of the Non-Competition Period, as more specifically provided for in the following paragraph.

 

(ii)         As
additional consideration for the covenant not to compete during the Non-Competition Period described above, the Company shall pay
the Executive, on a monthly basis, the sum of 25 percent of the Executive's monthly Salary, less the amount of the Executive's
"Monthly Severance Benefit," if any. This additional consideration shall be payable for the one (1) year period commencing
on the Termination Date and shall be payable on the first day of each month. For purposes of this provision, the "Monthly
Severance Benefit" shall be equal to the Severance Benefit divided by 12. The Company has the option, for any reason,
to elect to waive all or any portion of the one (1) year period of Non-Competition commencing on the Termination Date, by giving
the Executive written notice of such election not later than thirty (30) days following the Termination Date. In that event,
the Company shall not be obligated to pay the Executive under this paragraph for any months as to which the covenant not to compete
has been waived. The Company may discontinue payments being made pursuant to this paragraph at any time during the Non-Competition
Period that (i) Executive is engaged in full-time employment that, in the Company's opinion, does not violate the provisions of
Section 9(a)(i) hereof, or (ii) Executive violates the provisions of Section 9(a)(i) hereof.

 

(b)          The
Executive acknowledges that, during the course of his employment with the Company, due to the nature of the position he occupies
he will have access to confidential information of the Company concerning its executives and employees, including, but not limited
to, their background, experience, education, training, capabilities, and potential. He agrees, therefore, that if his employment
is terminated at any time prior to a Change in Control (a) by the Company for any reason or (b) by the Executive for any reason,
he shall not, for a one-year period beginning on the Termination Date, intentionally recruit, solicit or induce any employee or
employees of the Control Group to terminate their employment with, or otherwise cease their relationship with, the former employing
members of the Control Group where such employee or employees do in fact so terminate their employment.

 

(c)          The
Executive shall not at any time during the term of this Agreement, or thereafter, communicate or disclose to any unauthorized person,
or use for the Executive's own account, without the prior written consent of the Chief Executive Officer of the Company, nonpublic
information of any kind concerning the Company or any of its subsidiaries or affiliates, including, but not limited to, nonpublic
information concerning finances, financial plans, accounting methods, strategic plans, operations, personnel, organizational structure,
methods of distribution, suppliers, customers, client relationships, marketing strategies, real estate strategies or the like.
In the event of the termination of Executive's employment, Executive shall, on or before the Termination Date, return all Confidential
Information in his possession, in whatever form, to the Company. It is understood, however, that the obligations set forth in this
paragraph shall not apply to the extent that the aforesaid matters (a) are disclosed in circumstances in which the Executive is
legally required to do so or (b) become generally known to and available for use by the public other than by the Executive's wrongful
act or omission.

 

    	 	10	 

     

    

 

(d)          The
Executive agrees that any breach by him of the terms of Section 9 would result in irreparable injury and damage to the Company
for which the Company would have no adequate remedy at law; the Executive therefore agrees that in the event of a breach or threatened
breach by the Executive of the provisions of Section 9, the Company shall be entitled to an immediate injunction and restraining
order to prevent such breach or threatened breach or continued breach by the Executive, including any and all persons and entities
acting for or with the Executive, without having to prove damages, in addition to any other remedies to which the Company may be
entitled at law or in equity. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies
for any breach or threatened breach hereof, including but not limited to the recovery of damages from the Executive. The Executive
and the Company further agree that the provisions of the covenant not to compete are reasonable and that the Company would not
have entered into this Agreement but for the inclusion of such covenant herein. If any provision of the covenants set forth in
Section 9 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time
or over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend over the maximum period
of time, range of activities or geographic area as to which it may be enforceable.

 

(e)          The
provisions of Section 9 shall survive any termination of this Agreement and the existence of any claim or cause of action by the
Executive against the Control Group, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement
by the Company of the covenants and agreements of Section 9.

 

10.         No
Duty to Mitigate/Set-off. The Company agrees that if the Executive's employment with the Control Group is terminated during
the term of this Agreement, the Executive shall not be required to seek other employment or to attempt in any way to reduce any
amounts payable to the Executive by the Company pursuant to this Agreement. Further, the amount of the Severance Benefit provided
for in this Agreement shall not be reduced by any compensation earned by the Executive or benefit provided to the Executive as
the result of employment by another employer or otherwise. Except as otherwise provided herein, the Company's obligations to make
the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any circumstances,
including without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against
the Executive. The Executive shall retain any and all rights under all pension plans, welfare plans, equity plans and other plans,
including other severance plans, under which the Executive would otherwise be entitled to benefits.

 

    	 	11	 

     

    

 

11.         Withholding.
The Company shall have the right to make such provisions as it deems necessary or appropriate to satisfy any obligations it may
have to withhold federal, state, or local income or other taxes incurred by reason of payments pursuant to this Agreement. In lieu
thereof, the Company shall have the right to withhold the amount of such taxes from any other sums due or to become due from the
Company or an Affiliate to the Executive upon such terms and conditions as the Committee may prescribe.

 

12.         Release.
In consideration of the Executive's entitlement hereunder to a Severance Benefit which exceeds the severance benefit provided for
under the Company's standard severance program and as a condition of receiving any Severance Benefit hereunder with regard
to a Termination of Employment occurring prior to a Change in Control, the Executive shall be required to provide the Company with
a release of all claims of the Executive (except with regard to claims for payment of benefits specifically payable or providable
hereunder which have not been paid as of the effective date of the release, claims for vested accrued benefits or claims under
COBRA) of any kind whatsoever against the Control Group, its past or present officers, directors and employees, known or unknown,
as of the date of the release. The release shall be in such form as may reasonably be specified by the Company.

 

13.         Successors;
Binding Agreement. In addition to any obligations imposed by law upon any successor to the Company, the Company will require
any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the
business and/or assets of the Company to expressly assume and agree in writing to perform this Agreement in the same manner and
to the same extent that the Company would be required to perform it if no such succession had taken place. This Agreement shall
inure to the benefit of and be enforceable by the Executive's personal or legal representatives, executors, administrators, successors,
heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive
hereunder if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance
with the terms of this Agreement to the Executive's Beneficiary, or the executors, personal representatives or administrators of
the Executive's estate.

 

14.         Termination
of Prior Agreement. The Executive Employment Agreement entered into between the Company and the Executive dated _______________,
20__ is terminated as of _______________ without any further obligation of the parties thereto.

 

15.         Miscellaneous.
No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to
in writing and signed by the Executive and such officer as may be specifically designated by the Company. No waiver by either party
hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision shall be deemed a
waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations,
oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly
set forth in this Agreement. All references to sections of the Code or any other law shall be deemed also to refer to any successor
provisions to such sections and laws.

 

    	 	12	 

     

    

 

16.         Counterparts.
This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together
will constitute one and the same instrument.

 

17.         Severability.
If any provisions of this Agreement shall be declared to be invalid or unenforceable, in whole or in part, such invalidity or unenforceability
shall not affect the remaining provisions hereof which shall remain in full force and effect.

 

18.         Arbitration.
Any dispute or controversy arising under or in connection with this Agreement or the breach thereof, other than injunctive relief
pursuant to Section 9, shall be settled by arbitration, conducted before a panel of three arbitrators in New York, New York, or
in such other city in which the Executive is then located, in accordance with the rules of the American Arbitration Association
then in effect. The determination of the arbitrators, which shall be based upon a de novo interpretation of this Agreement, shall
be final and binding and judgment may be entered on the arbitrators' award in any court having jurisdiction. The costs assessed
by the American Arbitration Association for arbitration shall be borne by the Company.

 

19.         Notice.         
Any notice to either party hereunder shall be in writing, and shall be deemed to be sufficiently given to or served on such party,
for all purposes, if the same shall be given personally delivered to such party, or sent to such party by registered mail, postage
prepaid, in the case of the Executive, at his principal residence address as shown in the records of the Company, and in the case
of the Company, to the General Counsel, Foot Locker, Inc., 112 West 34th Street, New York, New York 10120.

 

Either party may change the address to which
notices are to be sent to such party hereunder by written notice of such new address given to the other party hereto. Notices shall
be deemed given when received if delivered personally or three days after mailing if mailed as aforesaid.         

 

20.         Section
409A. This Agreement is intended to comply with, or be exempt from, Section 409A and all provisions hereof shall be construed
in a manner to so comply. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind
benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation
or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any
taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable
year and (iii) such payments shall be made on or before the last day of the Executive’s taxable year following the taxable
year in which the expense was incurred. The parties further agree that there is no guarantee as to the tax consequences of payments
provided for hereunder.

 

21.         Compensation
Recoupment. Notwithstanding anything herein to the contrary, the Executive agrees that incentive compensation, as defined under
the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and such regulations as are promulgated thereunder from time
to time (“Dodd-Frank”), payable to him under the Company’s bonus plans, this Agreement or any other plan, arrangement
or program established or maintained by the Company shall be subject to any clawback policy adopted or implemented by the Company
in respect of Dodd-Frank, or in respect of any other applicable law or regulation.

 

    	 	13	 

     

    

 

22.         Governing
Law. The validity, interpretation, construction, enforcement and performance of this Agreement shall be governed by the laws
of the State of New York without regard to its conflicts of laws principles. For purposes of Section 9, the Executive consents
to the jurisdiction of state and federal courts in New York County.

 

IN WITNESS WHEREOF, the Company has caused
this Agreement to be duly executed and the Executive's hand has hereunto been set as of the date first set forth above.

 

	 	FOOT LOCKER, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	 	 
	 	 	Executive

 

    	 	14	 

     

    

 

APPENDIX A

 

Change in Control

 

A Change in Control shall mean any of the following:

 

(A)         the
merger or consolidation of the Company with, or the sale or disposition of all or Substantially All of the Assets of the Company
to, any person or entity or group of associated persons or entities (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Securities Exchange Act of 1934 (the “Exchange Act”)) (a “Person”) other than (a) a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the surviving or parent entity) fifty percent (50%) or
more of the combined voting power of the voting securities of the Company or such surviving or parent entity outstanding immediately
after such merger or consolidation; or (b) a merger or capitalization effected to implement a recapitalization of the Company (or
similar transaction) in which no Person is or becomes the beneficial owner, directly or indirectly (as determined under Rule 13d-3
promulgated under the Exchange Act), of securities representing more than the amounts set forth in (B) below;

 

(B)         the
acquisition of direct or indirect beneficial ownership (as determined under Rule 13d-3 promulgated under the Exchange Act), in
the aggregate, of securities of the Company representing thirty-five percent (35%) or more of the total combined voting power of
the Company’s then issued and outstanding voting securities by any Person (other than the Company or any of its subsidiaries,
any trustee or other fiduciary holding securities under any employee benefit plan of the Company, or any company owned, directly
or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of Common Stock of the
Company) acting in concert; or

 

(C)         during
any period of not more than twelve (12) months, individuals who at the beginning of such period constitute the Board, and any new
director whose election by the Board or nomination for election by the Company’s shareholders was approved by a vote of at
least two-thirds (2⁄3) of the directors then still in office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved, cease for any reason to constitute at least a majority thereof.

 

This definition is intended to constitute
a change in ownership or effective control of a corporation or change in the ownership of a substantial portion of the assets of
a corporation, in each case, as defined under Section 409A, and shall be construed in a manner consistent with such intent.

 

    	 	15

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