Document:

EX-4.1

Table of Contents

 Exhibit 4.1 

MAXIM INTEGRATED PRODUCTS, INC. 

$500,000,000 
 2.500%
SENIOR NOTES DUE 2018 
  
  

THIRD SUPPLEMENTAL INDENTURE 

Dated as of November 21, 2013 

To 
 INDENTURE 

Dated as of June 10, 2010 
  

 
 WELLS FARGO
BANK, NATIONAL ASSOCIATION 
 As Trustee 
  

 

Table of Contents

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	ARTICLE 1	  			
	 DEFINITIONS AND INCORPORATION

BY REFERENCE
	  			
		
	 Section 1.01. Relationship with Base Indenture
	  	 	1	  
	 Section 1.02. Definitions
	  	 	2	  
		
	ARTICLE 2	  			
	THE NOTES	  			
		
	 Section 2.01. Form and Dating
	  	 	11	  
	 Section 2.02. Transfer and Exchange
	  	 	12	  
	 Section 2.03. Issuance of Additional Notes
	  	 	17	  
		
	ARTICLE 3	  			
	REDEMPTION AND PREPAYMENT	  			
		
	 Section 3.01. Notice of Redemption; Selection of Securities
	  	 	18	  
	 Section 3.02. Notes Redeemed in Part
	  	 	18	  
	 Section 3.03. Optional Redemption
	  	 	19	  
	 Section 3.04. Mandatory Redemption
	  	 	19	  
		
	ARTICLE 4	  			
	PARTICULAR COVENANTS	  			
	 Section 4.01. Limitation on Liens
	  	 	19	  
	 Section 4.02. Limitation on Sale and Lease-Back Transactions
	  	 	20	  
	 Section 4.03. Offer to Purchase Upon Change of Control Triggering Event
	  	 	20	  
		
	ARTICLE 5	  			
	SUCCESSORS	  			
		
	 Section 5.01. Merger, Consolidation or Sale of Assets
	  	 	22	  
		
	ARTICLE 6	  			
	MISCELLANEOUS	  			
		
	 Section 6.01. Trust Indenture Act Controls
	  	 	23	  
	 Section 6.02. Governing Law
	  	 	24	  
	 Section 6.03. Successors
	  	 	24	  
	 Section 6.04. Severability
	  	 	24	  
	 Section 6.05. Counterpart Originals
	  	 	24	  
	 Section 6.06. Table of Contents, Headings, Etc
	  	 	24	  
	 Section 6.07. Validity or Sufficiency of Third Supplemental Indenture
	  	 	24	  
	 Section 6.08. Waiver of Jury Trial
	  	 	24	  
	 Section 6.09. Ratification of Indenture; Supplemental Indenture Part of Indenture
	  	 	24	  

Table of Contents

 THIRD SUPPLEMENTAL INDENTURE dated as of November 21, 2013 by and between Maxim
Integrated Products, Inc., a Delaware corporation (the “Company”), and Wells Fargo Bank, National Association, a national banking association, as trustee (the “Trustee”). 

The Company has heretofore executed and delivered to the Trustee an indenture, dated as of June 10, 2010 (the “Base
Indenture”, and together with this Third Supplemental Indenture, the “Indenture”), providing for the issuance from time to time of one or more series of the Company’s debt securities. 

The Company desires and has requested the Trustee pursuant to Section 9.01 of the Base Indenture to join with it in the execution and
delivery of this Third Supplemental Indenture in order to supplement the Base Indenture as and to the extent set forth herein to provide for the issuance and the terms of the Notes (as defined below). 

Section 9.01 of the Base Indenture provides that the Company and the Trustee, without the consent of any holders of the Company’s
Securities, may amend or waive certain terms and conditions in the Base Indenture as permitted by Sections 9.01 thereof. 
 The execution
and delivery of this Third Supplemental Indenture has been duly authorized by a resolution of the Board of Directors of the Company or a duly authorized committee thereof. 

All conditions and requirements necessary to make this Third Supplemental Indenture a valid, binding and legal instrument in accordance with
its terms have been performed and fulfilled by the parties hereto and the execution and delivery thereof have been in all respects duly authorized by the parties hereto. 

The Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as
defined herein) of the 2.500% Senior Notes due 2018 (the “Notes”): 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION 

BY REFERENCE 

Section 1.01. Relationship with Base Indenture. The terms and provisions contained in the Base Indenture will constitute,
and are hereby expressly made, a part of this Third Supplemental Indenture and the Company and the Trustee, by their execution and delivery of this Third Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby.
However, to the extent any provision of the Base Indenture conflicts with the express provisions of this Third Supplemental Indenture, the provisions of this Third Supplemental Indenture will govern and be controlling. 

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 The Trustee accepts the amendment of the Base Indenture effected by this Third Supplemental
Indenture and agrees to execute the trust created by the Base Indenture as hereby amended, but only upon the terms and conditions set forth in this Third Supplemental Indenture, including the terms and provisions defining and limiting the
liabilities and responsibilities of the Trustee in the performance of the trust created by the Base Indenture, and without limiting the generality of the foregoing, the Trustee will not be responsible in any manner whatsoever for or with respect to
any of the recitals or statements contained herein, all of which recitals or statements are made solely by the Company, or for or with respect to (1) the validity or sufficiency of this Third Supplemental Indenture or any of the terms or
provisions hereof, (2) the proper authorization hereof by the Company, (3) the due execution hereof by the Company or (4) the consequences (direct or indirect and whether deliberate or inadvertent) of any amendment herein provided
for, and the Trustee makes no representation with respect to any such matters. 
 Section 1.02. Definitions. Capitalized
terms used herein without definition shall have the respective meanings set forth in the Base Indenture. The following terms have the meanings given to them in this Section 1.02: 

“Additional Notes” means any Notes (other than the Initial Notes) issued under this Third Supplemental Indenture in
accordance with Section 2.03 hereof, as part of the same series as the Initial Notes. 
 “Aggregate
Debt” means the sum of the following as of the date of determination: 
 (1) the aggregate principal amount of the Company’s
Indebtedness and the Indebtedness of the Company’s subsidiaries incurred after the closing date and secured by Liens not permitted by the first sentence under Section 4.01(a), and 

(2) the Company’s Attributable Liens and those of the Company’s subsidiaries in respect of sale and lease-back transactions entered
into after the closing date pursuant to Section 4.01(b). 
 “Attributable Liens” means in connection with a sale and
lease-back transaction the lesser of: 
 (1) the fair market value of the assets subject to such transaction (as determined in good faith by
the Board of Directors of the Company); and 
 (2) the present value (discounted at a rate per annum equal to the average interest borne by
all outstanding debt securities of each series issued under the Indenture, which may include debt securities in addition to the Notes, determined on a weighted average basis and compounded semi-annually) of the obligations of the lessee for rental
payments during the term of the related lease. 

  
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 “Base Indenture” has the meaning set forth in the preamble to this Third
Supplemental Indenture, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof. 

“Capital Lease” means any Indebtedness represented by a lease obligation of a Person incurred with respect to real
property or equipment acquired or leased by such Person and used in its business that is required to be recorded as a capital lease in accordance with GAAP. 

“Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated and whether or not voting) of corporate stock, including each class of Common Stock and Preferred Stock of such Person; and 

(3) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited). 

“Change of Control” means the occurrence of any one or more of the following events: 

(1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the Company’s assets and the assets of its subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than to
us or one of the Company’s subsidiaries; 
 (2) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” or “group” of related persons (as such terms are used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Exchange Act), directly or indirectly, of a majority of the total voting power of the Company’s Voting Stock; 
 (3)
the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or such
other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted
into or exchanged for, a majority of the Voting Stock of the surviving person immediately after giving effect to such transaction; 

  
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 (4) the first day on which the majority of the members of the Company’s board of directors
cease to be Continuing Directors; or 
 (5) the adoption of a plan relating to the Company’s liquidation or dissolution. 

“Change of Control Date” has the meaning assigned to such term in Section 4.03. 

“Change of Control Offer” has the meaning assigned to such term in Section 4.03. 

“Change of Control Payment Date” has the meaning assigned to such term in Section 4.03. 

“Change of Control Purchase Date” has the meaning assigned to such term in Section 4.03. 

“Change of Control Purchase Price” has the meaning assigned to such term in Section 4.03. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event. 

“Common Stock” of any Person means any and all shares, interests or other participations in, and other equivalents (however
designated and whether voting or non-voting) of, such Person’s common stock, and includes, without limitation, all series and classes of such Common Stock. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having
a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity
to the remaining term of the Notes to be redeemed. 
 “Comparable Treasury Price” means, with respect to any Redemption
Date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than
four such Reference Treasury Dealer Quotations, the average of all such quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation. 

“Consolidated Net Tangible Assets” means, as of any date on which the Company effects a transaction requiring such
Consolidated Net Tangible Assets to be measured hereunder, the aggregate amount of assets (less applicable reserves) after deducting therefrom: (a) all current liabilities, except for current 

  
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maturities of long-term debt and obligations under Capital Leases; and (b) intangible assets, to the extent included in said aggregate amount of assets, all as set forth on the
Company’s most recent consolidated balance sheet and computed in accordance with GAAP applied on a consistent basis. 

“Continuing Director” means, as of any date of determination, any member of the Company’s board of directors who: 

(1) was a member of the Company’s board of directors on the date of the indenture; or 

(2) was nominated for election, elected or appointed to the Company’s board of directors with the approval of a majority of the
Continuing Directors who were members of the Company’s board of directors at the time of such nomination, election or appointment. 

“Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with
Section 2.02 hereof, substantially in the form of Exhibit A hereto except that such Note will not bear the Global Note Legend. 

“Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in
Section 2.01 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Third Supplemental Indenture. 

“DTC” has the meaning assigned to such term in Section 2.01. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Public Company
Accounting Oversight Board (United States) and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession,
which are in effect as of the date of determination. 
 “Global Note Legend” means the legend set forth in
Section 2.02(f), which is required to be placed on all Global Notes issued under this Third Supplemental Indenture. 
 “Global
Notes” means, individually and collectively, each of the Global Notes, in the form of Exhibit A hereto issued in accordance with Section 2.01 hereof. 

  
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 “Hedging Obligations” means, with respect to any specified Person, the
obligations of such Person under: 
 (1) interest rate swap agreements (whether from fixed to floating or from floating to fixed), interest
rate cap agreements, interest rate lock agreements and interest rate collar agreements; 
 (2) other agreements or arrangements designed to
manage interest rates or interest rate risk; 
 (3) other agreements or arrangements designed to protect such Person against fluctuations in
currency exchange rates or commodity prices; and 
 (4) other agreements or arrangements designed to protect such Person against
fluctuations in equity prices. 
 “Holder” means a Person in whose name a Note is registered. 

“Indebtedness” of any specified Person means, without duplication, any indebtedness, whether or not contingent, in respect of
borrowed money or that is evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements with respect thereto) or representing the balance deferred and unpaid of the purchase price of any Property
(including pursuant to Capital Leases), except any such balance that constitutes an accrued expense or trade payable, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such
Person (but does not include contingent liabilities which appear only in a footnote to a balance sheet). In addition, the term “Indebtedness” includes all of the following items, whether or not any such items would appear as a liability on
a balance sheet of the specified person in accordance with GAAP: 
  

	 	(1)	all Indebtedness of others secured by a lien on any asset of the specified person (whether or not such Indebtedness is assumed by the specified person); and 

 

	 	(2)	to the extent not otherwise included, any guarantee by the specified person of Indebtedness of any other person. 

“Indenture” means the Base Indenture, as supplemented by this Third Supplemental Indenture, governing the Notes, in each
case, as amended, supplemented or restated from time to time. 
 “Independent Investment Banker” means the Reference
Treasury Dealer appointed by the Company. 
 “Indirect Participant” means a Person who holds a beneficial interest in a
Global Note through a Participant. 
 “Initial Notes” means the first $500,000,000 aggregate principal amount of Notes
issued under this Third Supplemental Indenture on the date hereof. 

  
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 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its
equivalent under any successor rating category of Moody’s) and rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P). 

“Lien” means any lien, security interest, charge or encumbrance of any kind (including any conditional sale or other title
retention agreement, any lease in the nature thereof, and any agreement to give any security interest). 
 “Moody’s”
means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors. 
 “Notes” has
the meaning assigned to it in the preamble to this Third Supplemental Indenture. The Initial Notes and the Additional Notes will be treated as a single class for all purposes under this Third Supplemental Indenture, and unless the context otherwise
requires, all references to the Notes will include the Initial Notes and any Additional Notes. 
 “Optional Redemption
Date” has the meaning assigned to such term in Section 3.03. 
 “Par Redemption Date” has the meaning assigned to
such term in Section 3.03. 
 “Participant” means, with respect to the Depositary, a Person who has an account with the
Depositary. 
 “Permitted Liens” means: 

(1) Liens on any of the Company’s or its subsidiaries’ assets, created solely to secure obligations incurred to
finance the refurbishment, improvement or construction of such asset, which obligations are incurred no later than 18 months after completion of such refurbishment, improvement or construction, and all renewals, extensions, refinancings,
replacements or refundings of such obligations; 
 (2)(a) Liens given to secure the payment of the purchase price
incurred in connection with the acquisition (including acquisition through merger or consolidation) of Property (including shares of stock), including Capital Lease transactions in connection with any such acquisition, and (b) Liens existing on
Property at the time of acquisition thereof or at the time of acquisition by the Company of any Person then owning such Property whether or not such existing Liens were given to secure the payment of the purchase price of the Property to which they
attach; provided that, with respect to clause (a), the Liens shall be given within 18 months after such acquisition (or be a Lien securing a renewal, extension, refinancing, replacement or refunding of such an obligation and for which a
Lien was previously given in accordance with this Subsection (2)) and shall attach solely to the Property acquired or purchased and any improvements then or thereafter placed thereon; 

  
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 (3) Liens in favor of customs and revenue authorities or financial institutions
in respect of customs duties in connection with the importation of goods; 
 (4) Liens for taxes not yet due or that are
being contested in good faith by appropriate proceedings, provided that adequate reserves with respect thereto are maintained on the Company’s books or the books of any of the Company’s subsidiaries in conformity with GAAP; 

(5) Liens securing reimbursement obligations with respect to letters of credit that encumber documents and other Property
relating to such letters of credit and the products and proceeds thereof; 
 (6) Liens encumbering customary initial deposits
and margin deposits and other Liens in the ordinary course of business, in each case securing Hedging Obligations and forward contracts, options, futures contracts, futures options, equity hedges or similar agreements or arrangements designed to
protect the Company from fluctuations in interest rates, currencies, equities or the price of commodities; 
 (7) Liens in
favor of only the Company or one or more of its Subsidiaries; 
 (8) inchoate Liens incident to construction or maintenance
of real property, or Liens incident to construction or maintenance of real property, now or hereafter filed of record for sums not yet delinquent or being contested in good faith, if reserves or other appropriate provisions, if any, as shall be
required by GAAP shall have been made therefor; 
 (9) statutory Liens arising in the ordinary course of business with
respect to obligations which are not delinquent or are being contested in good faith, if reserves or other appropriate provisions, if any, as shall be required by GAAP shall have been made therefor; 

(10) Liens consisting of pledges or deposits to secure obligations under workers’ compensation laws or similar
legislation, including Liens of judgments thereunder which are not currently dischargeable; 
 (11) Liens consisting of
deposits of Property to secure the Company’s statutory obligations or those of any of its subsidiaries in the ordinary course of its business; 

(12) Liens consisting of pledges or deposits of Property to secure performance in connection with operating leases made in the
ordinary 

  
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course of business to which the Company is a party as lessee, provided the aggregate value of all such pledges and deposits in connection with any such lease does not at any time exceed 16 2⁄3% of the annual fixed rentals payable under such lease; 

(13) Liens consisting of deposits of Property to secure (or in lieu of) surety or appeal bonds in proceedings to which the
Company is a party in the ordinary course of its business, but not in excess of $25,000,000; 
 (14) Liens securing Specified
Non-Recourse Debt, so long as the aggregate outstanding amount of the obligations secured thereby does not exceed $75,000,000 at any one time; and 

(15) Liens (i) of a collection bank on the items in the course of collection in the ordinary course of business,
(ii) in favor of a banking or other financial institution arising as a matter of law encumbering deposits or other funds maintained with a financial institution (including the right of set off) and which are customary in the banking industry
and (iii) attaching to other prepayments, deposits or earnest money in the ordinary course of business. 
 “Preferred
Stock” of any Person means any Capital Stock of such Person that has preferential rights to any other Capital Stock of such Person with respect to dividends or redemptions or upon liquidation. 

“Property” means any property or asset, whether real, personal or mixed, or tangible or intangible, including shares
of capital stock. 
 “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either
Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a Substitute Rating Agency in lieu thereof within the meaning of
Rule 15c3-1(e)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of its Board of Directors) as a replacement agency for Moody’s or S&P, or both, as the case may be. 

“Rating Event” means the notes cease to be rated Investment Grade by both Rating Agencies on any day during the period
(the “Trigger Period”) commencing on the earlier of the first public notice of (a) the occurrence of a Change of Control or (b) the public announcement of the Company’s intention to effect a Change of Control, and
ending 60 days following consummation of such Change of Control (which period shall be extended so long as the rating of the notes is under publicly announced consideration for a possible rating change by either of the Rating Agencies). If either
Rating Agency is not providing a rating of the notes on any day during the Trigger Period for any reason, the rating of such Rating Agency shall be deemed to have ceased to be rated Investment Grade during the Trigger Period. 

  
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 “Redemption Date” has the meaning assigned to such term in Section 3.03. 

“Reference Treasury Dealer” means Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan
Stanley & Co. LLC (or their respective affiliates that are primary U.S. Government securities dealers), and their respective successors, and any other reference Treasury dealer we select or, if at any time any of the above is not a primary
U.S. Government securities dealer, one other nationally recognized investment banking firm selected by us that is a primary U.S. Government securities dealer.  

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date,
the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such
Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such Redemption Date. 

“Remaining Scheduled Payments” means, with respect to each note to be redeemed, the remaining scheduled payments of
the principal thereof and interest thereon that would be due after the related redemption date for such redemption; provided that if such redemption date is not an interest payment date with respect to such note, the amount of the next succeeding
scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such redemption date. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and
its successors. 
 “Specified Non-Recourse Debt” means any account or trade receivable factoring,
securitization, sale or financing facility, the obligations of which are non-recourse (except with respect to customary representations, warranties, covenants and indemnities made in connection with such facility) to the Company. 

“Stockholders’ Equity” means, as of any date of determination, stockholders’ equity as reflected on the most
recent consolidated balance sheet available to the Company prepared in accordance with GAAP. 
 “subsidiary”
of any specified Person means any corporation, limited liability company, limited partnership, association or other business entity of which more than 50% of the total voting power of shares of capital stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination
thereof. 

  
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 “Substitute Rating Agency” means a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by us (as certified by a resolution of the Company’s board of directors) as a replacement agency for Moody’s or S&P,
or both of them, as the case may be. 
 “Third Supplemental Indenture” means this Third Supplemental
Indenture, dated as of the date hereof, by and among the Company and the Trustee, governing the Notes, as amended, supplemented or otherwise modified from time to time in accordance with the Base Indenture and the terms hereof. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent
yield to maturity, computed as the third Business Day immediately preceding that Redemption Date, of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Business Day. 
 “Voting Stock” of any specified person as of any
date means the Capital Stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

ARTICLE 2 

THE NOTES 

Section 2.01. Form and Dating. (a) General. The Notes and the Trustee’s certificate of authentication included
thereon will be substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its authentication. The Notes will be in
denominations of $2,000 with integral multiples of $1,000 in excess thereof. 
 The terms and provisions contained in the Notes will
constitute, and are hereby expressly made, a part of this Third Supplemental Indenture, and the Company and the Trustee, by their execution and delivery of this Third Supplemental Indenture, expressly agree to such terms and provisions and to be
bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and be controlling. 

(b) Global Notes. Notes issued in global form will be substantially in the form of Exhibit A attached hereto (including the Global Note
Legend thereon). Notes issued in definitive form will be substantially in the form of Exhibit A attached hereto (but without the Global Note Legend thereon). Each Global Note will represent such of the outstanding Notes as will be specified
therein and each will provide that it will represent the aggregate principal amount of outstanding 

  
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Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to
reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee or the custodian of the
Notes, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.02 hereof. The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary
with respect to the Global Notes. 
 Section 2.02. Transfer and Exchange. (a) Transfer and Exchange of Global
Notes. A Global Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. All Global Notes will be exchanged by the Company for Definitive Notes if: 

(i) such Depositary (A) has notified the Company that it is unwilling or unable to continue its services as Depositary for
such Global Security and no successor Depositary has been appointed within 90 days after such notice or (B) ceases to be a “clearing agency” registered under Section 17A of the Securities Exchange Act of 1934 when the Depositary
is required to be so registered to act as the Depositary and so notifies the Company, and no successor Depositary has been appointed within 90 days after such notice; 

(ii) the Company determines at any time that the Notes shall no longer be represented by Global Notes and shall inform such
Depositary of such determination and participants in such Depositary elect to withdraw their beneficial interests in the Notes from such Depositary, following notification by the Depositary of their right to do so; or 

(iii) such exchange is made following the request by or on behalf of at least 25% of the Beneficial Owners seeking to exercise
or enforce their rights under the Securities during the continuance of an Event of Default. 
 Upon the occurrence of either of the
preceding events in (i) or (ii) above, Definitive Notes will be issued in such names and in any approved denominations as the Depositary will instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.06 and 2.07 of the Base Indenture. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.02 or Sections 2.06 or 2.07 of the Base Indenture,
will be authenticated and delivered in the form of, and will be, a Global Note. A Global Note may not be exchanged for another Note other than as provided in this Section 2.02(a), however, beneficial interests in a Global Note may be
transferred and exchanged as provided in Section 2.02(b), (c) or (g) hereof. 

  
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 (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange
of beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Third Supplemental Indenture and customary procedures. Transfers of beneficial interests in the Global Notes also will
require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(i) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Global Note may be transferred to
Persons who take delivery thereof in the form of a beneficial interest in a Global Note. No written orders or instructions will be required to be delivered to the Registrar to effect the transfers described in this Section 2.02(b)(i). 

(ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges
of beneficial interests that are not subject to Section 2.02(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either: 

(A) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with customary
procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; or 

(B) instructions given in accordance with customary procedures containing information regarding the Participant account to be
credited with such increase. 
 Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global
Notes contained in this Third Supplemental Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee will adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.02(g) hereof. 

(c) Transfer or Exchange of Beneficial Interests for Definitive Notes. 

If any holder of a beneficial interest in a Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer
such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then the transferor of such beneficial interest must deliver to the Registrar a written order from a Participant or an Indirect Participant given to
the Depositary in accordance with customary procedures containing information regarding the beneficial interest to be so exchanged or transferred and the recipient of the Definitive Note. 

  
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 Upon satisfaction of the conditions set forth in this Section 2.02(c), the Trustee will
cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.02(g) hereof, and the Company will execute and the Trustee will authenticate and deliver to the Person designated in the
instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.02(c) will be registered in such name or names and in such authorized denomination
or denominations as the holder of such beneficial interest requests through instructions to the Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in
whose names such Notes are so registered. 
 Notwithstanding the foregoing, any exchange or transfer of a beneficial interest in a Global
Note for a Definitive Note contemplated by this Section 2.02(c) shall only be permitted if (i) the Company determines at any time that the Notes shall no longer be represented by Global Notes and shall inform such Depositary of such
determination or (ii) such exchange or transfer is made upon request by or on behalf of at least 25% of the Beneficial Owners seeking to exercise or enforce their rights under the Securities during the continuance of an Event of Default. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

A Holder of a Definitive Note may exchange such Note for a beneficial interest in a Global Note or transfer such Definitive Notes to a Person
who takes delivery thereof in the form of a beneficial interest in a Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Definitive Note and increase or cause to be increased
the aggregate principal amount of one of the Global Notes. 
 If any such exchange or transfer from a Definitive Note to a beneficial
interest is effected pursuant to the previous paragraph at a time when a Global Note has not yet been issued, the Company will issue and, upon receipt of a Company Order, the Trustee will authenticate one or more Global Notes in an aggregate
principal amount equal to the principal amount of Definitive Notes so transferred. 
 A Holder of Definitive Notes may transfer such Notes
to a Person who takes delivery thereof in the form of a Definitive Note. 
 (e) Transfer and Exchange of Definitive Notes for Definitive
Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.02(e), the Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration of transfer
or exchange, 

  
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the requesting Holder will present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly
executed by such Holder or by his attorney, duly authorized in writing. In addition, the requesting Holder will provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this
Section 2.02(e). 
 (f) Legends. The following legends will appear on the face of all Global Notes issued under this Third Supplemental
Indenture unless specifically stated otherwise in the applicable provisions of this Third Supplemental Indenture. 
 “THIS GLOBAL NOTE
IS HELD BY THE DEPOSITARY (AS DEFINED IN THE THIRD SUPPLEMENTAL INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT
(I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.02 OF THE THIRD SUPPLEMENTAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.02(A) OF THE THIRD
SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.09 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF
THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT
AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

  
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 (g) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a
particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the Trustee in
accordance with Section 2.09 of the Base Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the custodian of the Notes at
the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global
Note will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the custodian of the Notes at the direction of the Trustee to reflect such increase. 

(h) General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global Notes
and Definitive Notes upon the Company’s order or at the Registrar’s request. 
 (ii) No service charge will be made
to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge
payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Section 4.03 hereof and Sections 2.07 and 9.04 of the Base Indenture). 

(iii) The Registrar will not be required to register the transfer of or exchange any Note selected for redemption in whole or
in part, except the unredeemed portion of any Note being redeemed in part. 
 (iv) All Global Notes and Definitive Notes
issued upon any registration of transfer or exchange of Global Notes or Definitive Notes will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Third Supplemental Indenture, as the Global
Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 

  
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 (v) The Company will not be required: 

(A) to issue, to register the transfer of or to exchange any Notes during a period of 15 days before the day of any selection
of Notes for redemption under Section 3.02 of the Base Indenture and ending at the close of business on the day of selection; 

(B) to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or 
 (C) to register the transfer of or to exchange a Note between a record date
and the next succeeding interest payment date. 
 (vi) Prior to due presentment for the registration of a transfer of any
Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other
purposes, and none of the Trustee, any Agent or the Company will be affected by notice to the contrary. 
 (vii) The Trustee
will authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.03 of the Base Indenture. 

(viii) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar or Trustee pursuant
to this Section 2.02 to effect a registration of transfer or exchange may be submitted by facsimile. 
 (ix) The Trustee
shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Third Supplemental Indenture or under applicable law with respect to any transfer of any interest in any Note
other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Third Supplemental Indenture, and to examine the same to
determine substantial compliance as to form with the express requirements hereof. 
 (x) Neither the Trustee nor any Agent
shall have any liability or responsibility for any actions taken or not taken by the Depositary. 
 Section 2.03. Issuance of
Additional Notes. The Company will be entitled, upon delivery of an Officer’s Certificate and an Opinion of Counsel, to issue Additional Notes under this Third Supplemental Indenture which will have identical terms as the Initial Notes
issued on the date hereof, other than with  

  
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respect to the date of issuance and issue price. The Initial Notes issued on the date hereof and any Additional Notes issued will be treated as a single class for all purposes under this Third
Supplemental Indenture. 
 The Company shall not be entitled to issue Additional Notes under this Third Supplemental Indenture if such
Additional Notes would not be fungible with the Initial Notes for U.S. federal income tax purposes. 
 With respect to any Additional Notes,
the Company will set forth in a resolution of its Board of Directors and an Officer’s Certificate, a copy of each which will be delivered to the Trustee, the following information: 

(a) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Third Supplemental Indenture;
and 
 (b) the issue price, the issue date and the CUSIP number of such Additional Notes. 

ARTICLE 3 

REDEMPTION AND PREPAYMENT 

Section 3.01. Notice of Redemption; Selection of Securities. The Company will send electronically or by first class mail notice of
any redemption at least 30 days but not more than 60 days before the Redemption Date (as defined below) to each Holder of the Notes to be redeemed setting forth the information to be stated in such notice as provided in Section 3.02 of the Base
Indenture (with written notice to the Trustee no less than 15 days (or such shorter period as agreed by the Trustee) prior to the sending of such redemption notice in the event the Trustee is engaged by the Company to send such notice or cause such
notice to be sent in the Company’s name and at the Company’s expense). If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee on a pro rata basis, by lot or by such method the Trustee
deems to be fair and appropriate, in each case in accordance with DTC’s procedures. 
 Section 3.02. Notes Redeemed in
Part. No Notes of $2,000 or less can be redeemed in part. 

  
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 Section 3.03. Optional Redemption. (a) At any time prior to the maturity
date, the Company may, on any one or more occasions, redeem, in whole or in part, at a redemption price equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest, if any, on the principal amount of the Notes
being redeemed to, but excluding, the date of redemption or purchase (“Optional Redemption Date”) (subject to the right of the holders of record on the relevant record date to receive interest due on the relevant
interest payment date): 
 (i) 100% of the aggregate principal amount of the Notes to be redeemed; or 

(ii) the sum of the present values of the Remaining Scheduled Payments due on such Notes, discounted to the Optional Redemption
Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus accrued and unpaid interest thereon to the Optional Redemption Date. 

Calculation of the foregoing shall be made by the Company or on the Company’s behalf by such Person as the Company shall designate;
provided, however, that such calculation shall not be a duty or obligation of the Trustee. 
 (b) On and after the Optional Redemption Date,
interest will cease to accrue on the Notes or portions thereof called for redemption as long as the Company has deposited with the Paying Agent funds in satisfaction of the applicable redemption price. 

Section 3.04. Mandatory Redemption. The Company is not required to make any mandatory redemption or sinking fund payments
with respect to the Notes. 
 ARTICLE 4 

PARTICULAR COVENANTS 

Section 4.01. Limitation on Liens. (a) The Company will not, and will not permit any of its subsidiaries to create or
incur any Lien on any of its Properties or Properties of its subsidiaries, whether now owned or hereafter acquired, or upon any income or profits therefrom, in order to secure any of its Indebtedness or that of any of its subsidiaries, without
effectively providing that the Notes shall be equally and ratably secured until such time as such Indebtedness is no longer secured by such Lien, except: 

(i) Liens existing as of the issue date of the Notes; 

(ii) Liens granted after the issue date of the Notes created in favor of the Holders of the Notes; 

(iii) Liens securing the Company’s Indebtedness or the Indebtedness of its subsidiaries which are incurred to extend,
renew or refinance Indebtedness which is secured by Liens permitted to be incurred under the Indenture so long as such Liens are limited to all or part of substantially the same Property which secured the Liens extended, renewed or replaced and of
Indebtedness secured is not increased (other than by the amount equal to any costs and expenses (including any premiums, fees or penalties) incurred in connection with any extension, renewal or refinancing); and 

  
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 (iv) Permitted Liens. 

(b) Notwithstanding Section 4.01(a), the Company and its subsidiaries may, without securing any series of Notes, create or incur Liens
which would otherwise be subject to the restrictions set forth in Section 4.01(a), if after giving effect thereto, Aggregate Debt does not exceed 15% of Consolidated Net Tangible Assets calculated as of the date of the creation or incurrence of
the Lien. 
 Section 4.02. Limitation on Sale and Lease-Back Transactions. (a) The Company will not, and will not
permit any of its subsidiaries to, enter into any sale and lease-back transaction for the sale and leasing back of any Property, whether now owned or hereafter acquired, unless: 

(i) such transaction was entered into prior to the issue date of the Notes; 

(ii) such transaction involves a lease for less than three years; 

(iii) the Company or such subsidiary would be entitled to incur Indebtedness secured by a mortgage on the Property to be leased
in an amount equal to the Attributable Liens with respect to such sale and lease-back transaction without equally and ratably securing the Notes pursuant to Section 4.01(a) above; or 

(iv) the Company applies an amount equal to the fair value of the Property sold to the purchase of Property or to the
retirement of its long-term Indebtedness within 270 days of the effective date of any such sale and lease-back transaction. In lieu of applying such amount to such retirement, the Company may deliver the Notes or other Securities to the trustee
therefor for cancellation, such Notes or other Securities to be credited at the cost thereof to the Company. 
 (b) Notwithstanding
Section 4.02(a), the Company or any of its subsidiaries may enter into any sale and lease-back transaction which would otherwise be subject to the foregoing restrictions if after giving effect thereto and at the time of determination, Aggregate
Debt does not exceed 15% of Consolidated Net Tangible Assets calculated as of the closing date of the sale and lease-back transaction. 

Section 4.03. Offer to Purchase Upon Change of Control Triggering Event. (a) Upon the occurrence of a Change of Control
Triggering Event (the date of such occurrence, the “Change of Control Date”), each Holder shall have the right to require the Company to purchase such Holder’s Notes in whole or in part (equal to $2,000 or an integral multiple
of $1,000 in excess thereof) at a 

  
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purchase price (the “Change of Control Purchase Price”) equal to 101% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to, but excluding, the date
of purchase (the “Change of Control Purchase Date”), pursuant to and in accordance with the offer described in this Section 4.03 (the “Change of Control Offer”). 

(b) Within 30 days following the Change of Control Date the Company shall send, electronically or by first class mail, a notice to each
Holder, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall state: 

(i) that the Change of Control Offer is being made pursuant to this Section 4.03 and that all Notes validly tendered will
be accepted for payment; 
 (ii) the Change of Control Purchase Price and the Change of Control Purchase Date, which shall be
a Business Day that is no earlier than 30 days nor later than 60 days from the date such notice is sent (the “Change of Control Payment Date”) other than as may be required by law; 

(iii) that any Note not tendered will continue to accrue interest; 

(iv) that any Note accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change
of Control Payment Date unless the Company shall default in the payment of the Change of Control Purchase Price of the Notes and the only remaining right of the Holder is to receive payment of the Change of Control Purchase Price upon surrender of
the Notes to the Paying Agent; 
 (v) that Holders electing to have a portion of a Note purchased pursuant to a Change of
Control Offer may only elect to have such Note purchased in an amount equal to $2,000 or an integral multiple of $1,000 in excess thereof; 

(vi) that if a Holder of a definitive Note elects to have a Note purchased pursuant to the Change of Control Offer it will be
required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, or Holders of Global Notes must transfer by book-entry transfer, to the Paying Agent at the address specified
in the notice prior to the close of business on the third Business Day prior to the Change of Control Payment Date; 
 (vii)
that a Holder will be entitled to withdraw its election if the Company receives, not later than the third Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of such
Holder, the principal amount of Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing its election to have such Note purchased; and 

  
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 (viii) that if Notes are purchased only in part a new Note of the same type will
be issued in principal amount equal to the unpurchased portion of the Notes surrendered. 
 (c) On or before the Change of Control Payment
Date, the Company shall, to the extent lawful, accept for payment, all Notes or portions thereof validly tendered pursuant to the Change of Control Offer, and shall deliver to the Trustee an Officer’s Certificate stating that such Notes or
portions thereof were accepted for payment by the Company in accordance with the terms of this Section 4.03. The Company, the Depositary or the Paying Agent, as the case may be, shall promptly mail or deliver to each tendering Holder an amount
equal to the purchase price of the Notes tendered by such Holder and accepted by the Company for purchase, and, in the case of a definitive Note, the Company shall promptly issue a new Note, and the Trustee, upon receipt of a Company Order, shall
authenticate and mail or deliver such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Company to the Holder thereof. 

(d) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws and regulations are applicable in connection with the purchase of Notes pursuant to an offer hereunder. To the extent the provisions of any securities laws or regulations conflict with the provisions under this
Section 4.03, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.03 by virtue thereof. 

(e) The Company shall not be required to make a Change of Control Offer if a third party makes such an offer in the manner and at the times
required and otherwise in compliance with the requirements for such an offer made by the Company, and such third party purchases all notes properly tendered and not withdrawn under its offer. 

ARTICLE 5 

SUCCESSORS 

Section 5.01. Merger, Consolidation or Sale of Assets. The Notes shall not have the benefits of Section 10.01 of the
Base Indenture. The following Section 5.01 replaces Section 10.01 of the Base Indenture in its entirety with respect to the Notes. 

  
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 The Company shall not merge or consolidate with any other Person or Persons (whether or not
affiliated with the Company) or sell, convey, transfer, lease or otherwise dispose of all or substantially all of its property or assets to any other Person or Persons (whether or not affiliated with the Company), unless: 

(i) either: (A) the transaction is a merger or consolidation and the Company is the surviving entity; or (B) the
successor Person (or the Person which acquires by sale, conveyance, transfer or lease all or substantially all of the Company’s property or assets) is a corporation organized under the laws of the United States, any state thereof or the
District of Columbia and expressly assumes, if required by law to effectuate the assumption, by a supplemental indenture, all of the Company’s obligations under the Notes and the Indenture; 

(ii) immediately after giving effect to the transaction and treating the Company’s obligations in connection with or as a
result of such transaction as having been incurred as of the time of such transaction, no Event of Default (and no event or condition which, after notice or lapse of time or both, would become an Event of Default) shall have occurred and be
continuing under the Indenture; and 
 (iii) an Officer’s Certificate is delivered to the Trustee to the effect that
both of the conditions set forth in clauses (i) and (ii) above have been satisfied and an Opinion of Counsel has been delivered to the Trustee to the effect that condition (i) set forth above has been satisfied and/or that any
conditions precedent in connection with this Third Supplemental Indenture have been satisfied in accordance with the terms of the Base Indenture. 

In the event of any of the above transactions, if there is a successor person as described in paragraph (i)(B) immediately above, then the
successor will expressly assume and be bound by all of the Company’s obligations and duties under the Indenture and automatically be substituted for the Company in the Indenture and as issuer of the Notes and may exercise every right and power
of the Company under the Indenture with the same effect as if such successor person had been named in the Company’s place in the Indenture. Further, if the transaction is in the form of a sale or conveyance, after any such transfer (except in
the case of a lease), the Company will be discharged from all obligations and covenants under the Indenture and all Notes issued thereunder. 

ARTICLE 6 

MISCELLANEOUS 

Section 6.01. Trust Indenture Act Controls. If any provision of this Third Supplemental Indenture limits, qualifies or
conflicts with the duties imposed by TIA Section 318(c), the imposed duties will control. 

  
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 Section 6.02. Governing Law. THE INTERNAL LAWS OF THE STATE OF NEW YORK WILL
GOVERN AND BE USED TO CONSTRUE THIS THIRD SUPPLEMENTAL INDENTURE AND THE NOTES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 Section 6.03. Successors. All agreements of the Company in this Third Supplemental Indenture and the Notes will
bind its successors. All agreements of the Trustee in this Third Supplemental Indenture will bind its successors. 

Section 6.04. Severability. In case any provision in this Third Supplemental Indenture or in the Notes will be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 6.05. Counterpart Originals. The parties may sign any number of copies of this Third Supplemental Indenture. Each
signed copy will be an original, but all of them together represent the same agreement. The exchange of copies of this Third Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and
delivery of this Third Supplemental Indenture as to the parties hereto and may be used in lieu of the original Third Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be
their original signatures for all purposes. 
 Section 6.06. Table of Contents, Headings, Etc. The Table of
Contents and Headings of the Articles and Sections of this Third Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Third Supplemental Indenture and will in no way modify or restrict
any of the terms or provisions hereof. 
 Section 6.07. Validity or Sufficiency of Third Supplemental Indenture.
The Trustee is not responsible for the validity or sufficiency of this Third Supplemental Indenture, or for the recitals contained herein. 

Section 6.08. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 6.09. Ratification of Indenture; Supplemental Indenture Part of Indenture. Except as expressly amended hereby, the Base
Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect, including, without limitation, the 

  
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legal and covenant defeasance provisions set forth in Sections 11.02 and 11.03 thereof, which shall apply in respect of the Notes. This Third Supplemental Indenture shall form a part of the Base
Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 

[Signatures on following page] 

  
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 SIGNATURES 

Dated as of November 21, 2013 
  

					
	MAXIM INTEGRATED PRODUCTS, INC.
		
	By:	 	 /s/ Bruce Kiddoo

		 	Name:	 	Bruce Kiddoo
		 	Title:	 	Senior Vice President and Chief Financial Officer

  

					
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

		
	By:	 	 /s/ Michael Q. Tu

		 	Name:	 	Michael Q. Tu
		 	Title:	 	Assistant Vice President

 [SIGNATURE PAGE TO THIRD SUPPLEMENTAL INDENTURE] 

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 EXHIBIT A 

(Face of Note) 
 [IF THIS NOTE IS
TO BE A GLOBAL NOTE, INSERT:] 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE THIRD SUPPLEMENTAL INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.02 OF THE THIRD SUPPLEMENTAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.02(A) OF THE THIRD SUPPLEMENTAL INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.09 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE
BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

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 CUSIP: 57772K AC5 

ISIN: US57772KAC53 
 2.500% Senior
Notes due 2018 
  

			
	 No. 1
	 	$500,000,000

 MAXIM INTEGRATED PRODUCTS, INC. 

promises to pay to Cede & Co. or registered assigns, the principal sum of $500,000,000 Dollars on November 21, 2023. 

Interest Payment Dates: May 15 and November 15 

Record Dates: May 1 and November 1 
  

			
	 MAXIM INTEGRATED PRODUCTS, INC.

		
	By:	 	  

		 	 Name:

		 	 Title:

 Date of Authentication: November 21, 2013 

This is the Global Note referred to in the within-mentioned Third Supplemental Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

		
	 By:
	 	  

		 	Name:
		 	Title:

  
 A-2 

Table of Contents

 (Back of Note) 

2.500% Senior Notes due 2018 

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. INTEREST. Maxim Integrated Products, Inc., a Delaware corporation (the “Company”), promises to
pay interest on the principal amount of this Note at 2.500% per annum from the date hereof until maturity. The Company will pay interest semi-annually on May 15 and November 15 of each year, or if any such day is not a Business Day,
on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance;
provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest will accrue
from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date will be May 15, 2014. The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to the then applicable interest rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments
of interest at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

2. METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered
Holders of Notes at the close of business on the May 1 or November 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in
Section 2.04 of the Base Indenture with respect to defaulted interest. Principal, premium, if any, and interest on the Notes will be payable at the office or agency of the Paying Agent and Registrar or, at the option of the Company, payment of
interest may be made by check mailed to the Holders of the Definitive Notes at their respective addresses set forth in the register of Holders of Notes; provided that all payments of principal, premium and interest with respect to Notes the
Holders of which have given wire transfer instructions to the Trustee will be required to be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof. Such payment will be in such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public and private debts. 
 3. PAYING
AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or
any of its Subsidiaries may act in any such capacity. 

  
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 4. INDENTURE. This Note is one of a duly authenticated series of
securities of the Company issued and to be issued in one or more series under an indenture (the “Base Indenture”), dated as of June 10, 2010, between the Company and the Trustee, as amended by the Third Supplemental Indenture
(the “Third Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), dated as of November 21, 2013, between the Company and the Trustee. The terms of the Notes include those stated in
the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code Sections 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for
a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and be controlling, and to the extent any provision of the Base Indenture
conflicts with the express provisions of the Third Supplemental Indenture, the provisions of the Third Supplemental Indenture will govern and be controlling. The Company will be entitled to issue Additional Notes pursuant to Section 2.03 of the
Third Supplemental Indenture. 
 5. OPTIONAL REDEMPTION. (a) At any time before prior to the maturity date, the Company
may, on any one or more occasions, redeem, in whole or in part, at a redemption price equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest, if any, on the principal amount of the Notes being redeemed to, but
excluding, the date of redemption or purchase (“Optional Redemption Date”) (subject to the right of the holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date): 

(i) 100% of the aggregate principal amount of the Notes to be redeemed; or 

(ii) the sum of the present values of the Remaining Scheduled Payments due on such Notes, discounted to the Redemption Date on
a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus accrued and unpaid interest thereon to the Redemption Date. 

Calculation of the foregoing shall be made by the Company or on the Company’s behalf by such Person as the Company shall designate;
provided, however, that such calculation shall not be a duty or obligation of the Trustee. 
 (b) On and after the Optional Redemption Date,
interest will cease to accrue on the Notes or portions thereof called for redemption as long as the Company has deposited with the Paying Agent funds in satisfaction of the applicable redemption price. 

  
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 6. MANDATORY REDEMPTION. Except as set forth in paragraph 7, the Company shall not
be required to make mandatory redemption payments with respect to the Notes. 
 7. REPURCHASE AT OPTION OF HOLDER. Upon
the occurrence of a Change of Control Triggering Event, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to,
but excluding, the date of purchase. 
 8. NOTICE OF REDEMPTION. The Company will send electronically or by first class
mail notice of any redemption at least 30 days but not more than 60 days before the Redemption Date (as defined below) to each Holder of the Notes to be redeemed setting forth the information to be stated in such notice as provided in
Section 3.02 of the Base Indenture (with written notice to the Trustee no less than 15 days (or such shorter period as agreed by the Trustee) prior to the sending of such redemption notice in the event the Trustee is engaged by the Company to
send such notice or cause such notice to be sent in the Company’s name and at the Company’s expense). If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee on a pro rata basis, by lot
or by such method the Trustee deems to be fair and appropriate, in each case in accordance with DTC’s procedures. 
 9.
DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000. Notes may be transferred or exchanged as provided in the Third Supplemental Indenture. The
Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Third Supplemental
Indenture. The Company need not exchange or transfer any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any
Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 

10. PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes. 

11. AMENDMENT, SUPPLEMENT AND WAIVER. The Base Indenture may be amended as provided therein. Subject to certain exceptions,
amendments or modifications to the Third Supplemental Indenture or the Notes may be made with the consent of the Holders of not less than a majority of the aggregate principal amount of the outstanding Notes affected by the amendment or
modification, and compliance by the Company with any provision of the Indenture with respect to the Notes may be waived by written notice to the trustee by the Holders of a majority of the aggregate principal amount of the outstanding 

  
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Notes affected by the waiver. Without the consent of any Holder of Notes, the Third Supplemental Indenture or the Notes may be amended or modified in order to, among other things: cure any
ambiguity, defect or inconsistency; secure the Notes, add events of default, covenants or guarantees with respect to the Notes or make any other change that would provide any additional rights or benefits to the Holders of the Notes; obtain or
maintain the qualification of the Indenture under the Trust Indenture Act; or make any other change that does not adversely affect the interests of any Holder of Notes. Subject to certain exceptions, the Holders of at least a majority in principal
amount of the outstanding Notes may on behalf of the Holders of all Notes waive the Company’s compliance with provisions of the Indenture and waive any past default under the Indenture with respect to the Notes and its consequences. 

12. DEFAULTS AND REMEDIES. An “EVENT OF DEFAULT” occurs if there is: 

(i) default in the payment of any installment of interest upon any Notes as and when the same shall become due and payable, and
continuance of such default for a period of 30 days; or 
 (ii) default in the payment of the principal of, or premium, if
any, on any Notes as and when the same shall become due and payable whether at maturity, upon redemption, by declaration, repayment or otherwise; or 

(iii) failure to make the required payment upon a Change of Control Triggering Event when due and payable in accordance with
the terms of the Indenture; or 
 (iv) failure on the part of the Company to observe or perform any other of the covenants in
the or agreements on the part of the Company in respect of the Notes contained in the Indenture for 90 days after notice to the Company; or 

(v) an event of default with respect to any other Indebtedness of the Company which results in the acceleration of such
Indebtedness in an amount in excess of $50,000,000 without such acceleration having been rescinded or annulled within 30 days after written notice to the Company; or 

(vi) the occurrence of certain events of bankruptcy, insolvency or reorganization of the Company or any of its Significant
Subsidiaries as set forth in Sections 6.01(f) and 6.01(g) of the Base Indenture. 
 If any Event of Default occurs and is continuing, the
Trustee or the Holders of not less than 25% in principal amount of the then outstanding Notes may, by notice in writing to the Company (and to the Trustee if given by the Holders), declare all the Notes to be due and payable immediately the
principal of, 

  
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and accrued and unpaid interest, if any, on all of the Notes. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency with
respect to the Company, the principal (or such specified amount) of and accrued and unpaid interest, if any, on all outstanding Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or
any Holders of Notes. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in its
exercise of any trust or power. The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default if it, in good faith, determines that withholding notice is in their interest, except a Default or Event of
Default relating to the payment of principal or interest. The Holders of a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or
Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, the Notes or in respect if a covenant or a provision that cannot be modified or amended
without the consent of all Holders of the Notes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to
deliver to the Trustee a statement specifying such Default or Event of Default. 
 13. TRUSTEE DEALINGS WITH COMPANY. The
Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

14. NO RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator or stockholder, of the Company, as such, will not
have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all
such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 15.
AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 

16. ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in
common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

17. CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the
Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use  

  
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CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers placed thereon. The Company will furnish to any Holder upon written request and without charge a copy of the Base Indenture and the Third Supplemental Indenture. Requests
may be made to: 
 Maxim Integrated Products, Inc. 

160 Rio Robles 
 San Jose, CA
95134 
 Facsimile No.: (408) 601-1833 

Attention: General Counsel 

  
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 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	 (I) or (we) assign and transfer
	  	
	this Note to:	  	  

		  	(Insert assignee’s legal name)

  

	
	  

 (Insert assignee’s social security number or tax identification number) 

 

	
	  

	
	  

	
	  

	
	  

 (Print or type assignee’s name, address and zip code) 

 

			
	 and irrevocably
	  	
	appoint	  	  

 to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

 

			
	 Date:
	 	  

  

			
	 Your
 Signature:
	 	  

		 	(Sign exactly as your name appears on the face of this Note)
		
	Tax Identification No:	 	  

		
	Signature Guarantee:	 	  

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
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 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.03 of the Third Supplemental Indenture, check the
box below: 
  ̈ Section 4.03 

If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.03 of the Third Supplemental Indenture,
state the amount you elect to have purchased: $ 
  

			
	 Date:
	 	  

  

			
	 Your
 Signature:
	 	  

		 	(Sign exactly as your name appears on the face of this Note)
		
	Tax Identification No:	 	  

		
	Signature Guarantee:	 	  

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
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 SCHEDULE OF INCREASES OR DECREASES 

The following increases or decreases in the principal amount of this Global Note have been made: 

 

									
	 Exchange
	  	 Amount of

decrease in
Principal
Amount of this
Global Note
	  	 Amount of

increase in
Principal

Amount of this
Global Note
	  	 Principal
Amount of this
Global
Note
following such
 increase or
decrease
	  	 Signature of
authorized
signatory
of
Trustee

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

  
 A-11Purchase and Sale Agreement by and between Roswell Commons Group, L.P.

 Exhibit 10.1 

SALES CONTRACT 

BY AND BETWEEN 
 ROSWELL
COMMONS GROUP, L.P., 
 a Georgia limited partnership, 

as Seller 
 and 

LENNAR MULTIFAMILY INVESTORS, LLC, 

a Delaware limited liability company, 

as Purchaser 

 SALES CONTRACT 

THIS SALES CONTRACT (the “Agreement”) is made as of the
10th day of January, 2013 (the “Effective Date”), by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR
MULTIFAMILY INVESTORS, LLC, a Delaware limited liability company (“Purchaser”). 

ARTICLE I -- PROPERTY TO BE CONVEYED 

A.    Seller shall sell to Purchaser, and Purchaser shall purchase from Seller, upon the terms and
conditions hereinafter set forth, all right, title, and interest of Seller in and to (i) that certain parcel of land (the “Land”) described on Exhibit A attached hereto and by this reference
incorporated herein; (ii) all buildings and improvements on the Land (the “Improvements”); (iii) all appliances, furniture, fixtures, machinery, equipment, supplies and other personal property attached
to, located at or used in connection with the operation, management or maintenance of the Land or the Improvements on the Closing Date (as defined in Section X B)(collectively, the “Personal Property”); (iv) all
permits, licenses and prepaid fees, impact fees or credits, if any, with respect to the Land or the use, occupancy or development of the Land; (v) any land lying in the bed of any street, road, highway or avenue, open or proposed, in front of
or adjoining all or any part of the Land and in any and all strips, gores or right-of-way, riparian rights and easements; (vi) any award or payment made or to be made for any (x) taking in condemnation or eminent domain of any street, road
or highway adjoining all or any part of the Land, (y) damage to the Land or Improvements or any part thereof by reason of any change of grade or closing of any such street, road, highway or avenue adjoining the Land, or (z) taking in
condemnation or eminent domain of any part of the Land or Improvements; and (vii) all entitlements, permits, approvals, plans, specifications, warranties, guaranties, licenses, site plans, and other development rights (including, without
limitation, limitations of liability, and related rights, arising out of the Land’s designation as a brownfield under the Georgia Hazardous Site Reuse and Redevelopment Act), if any, relating to the Land or Improvements (all of the foregoing
property is hereinafter collectively referred to as the “Property”) 

B.    The Property is known as the Frazier Street Apartments, is located on Frazier Street in Roswell,
Fulton County, Georgia, and is comprised of 152 apartment units and related amenities. 

ARTICLE II -- PURCHASE PRICE 

The purchase price (the “Purchase Price”) for the Property shall be an amount equal to the lesser of
(i) Eight Million and No/100 Dollars ($8,000,000.00), or (ii) the product determined by multiplying (x) the number of individual residential apartment units (the “Units”) which Purchaser will develop on the
Property pursuant to Required Approvals (as defined in Section XI C) and the Final Rezoning (as defined in Section XI B) and (y) Twenty-Five Thousand and No/100 Dollars ($25,000.00). The foregoing notwithstanding, in the event that,
pursuant to either the Final Rezoning or the Required Approvals, Purchaser is required to develop fewer than 

 two hundred eighty (280) Units on the Property, Seller shall have the right to notify
Purchaser within ten (10) days after such fact is known that Seller has elected to terminate this Agreement in which event so much of the Deposit (hereinafter defined) as has been paid by Purchaser shall be returned to Purchaser (less $100.00
which shall be paid to Seller in consideration of Seller’s having entered into this Agreement and held the Property off the market), and thereafter this Agreement shall terminate and be null and void and of no further force and effect, and
neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the other by reason hereof except for those matters that specifically survive such termination; provided, however, in the event that Seller so
terminates this Agreement, Purchaser shall have the right for a period of ten (10) days after Purchaser receives notice of termination from Seller to vitiate Seller’s termination of this Agreement by so notifying Seller and agreeing to pay
a Purchase Price of Seven Million and No/100 Dollars ($7,000,000.00) in which event $7,000,000.00 shall be the Purchase Price for the Property. Subject to all prorations and adjustments provided herein, the Purchase Price shall be paid as follows:

 A.          (i)    Within four (4) business
days after the Effective Date, Purchaser shall pay to Fidelity National Title Group (the “Escrow Agent”) Fifty Thousand and No/100 Dollars ($50,000.00), by check subject to collection or wire-transfer, such amount to be
deposited by the Escrow Agent in an interest-bearing money market account with a Depository (as defined in Section 2(C)(vi)) whose deposits are insured by the FDIC to the extent of the FDIC insurance limits (such $50,000.00, together with all
interest earned thereon, is hereinafter referred to as the “Initial Deposit”). 

(ii)    Conditioned upon Purchaser’s sending the Notice to Proceed (as defined in
Section XI A), within four (4) business days after Purchaser sends the Notice to Proceed, Purchaser shall pay to the Escrow Agent an additional One Hundred Thousand and No/100 Dollars ($100,000.00), by check subject to collection or by
wire-transfer, which shall be deposited in the same interest-bearing account as was deposited the Initial Deposit (such $100,000.00, together with all interest earnest thereon, is hereinafter referred to as the “Second
Deposit”). 
 (iii)    Conditioned upon Purchaser’s receipt of the
Final Rezoning, within four (4) business days after Purchaser’s receipt of the Final Rezoning, Purchaser shall pay to the Escrow Agent an additional One Hundred Thousand and No/100 Dollars ($100,000.00), by check subject to collection or
by wire-transfer, which shall be deposited in the same interest-bearing account as was deposited the Initial Deposit (such $100,000.00, together with all interest earnest thereon, is hereinafter referred to as the “Third
Deposit”; the Initial Deposit, the Second Deposit (if deposited), and the Third Deposit (if deposited) are hereinafter collectively referred to as the “Deposit”). 

(iv)    The Deposit shall be applied toward the Purchase Price due at the Closing (as
defined in Section X C) or otherwise shall be applied as elsewhere provided in this Agreement. 

  
 2 

 B.    At the Closing, the Escrow Agent shall pay the Deposit
to Seller as a part of the Purchase Price, and the balance of the Purchase Price shall be paid by Purchaser to Seller by wire-transfer of immediately available funds to Seller, subject to all prorations and adjustments provided herein. 

C.    The Escrow Agent joins in the execution of this Agreement solely for the purpose of acknowledging
and agreeing to the provisions of this Section II C. The duties of the Escrow Agent shall be as follows: 

(i)    During the term of this Agreement, the Escrow Agent shall hold and disburse the
Deposit in accordance with the terms and provisions of this Agreement. 
 (ii)    The
Escrow Agent shall pay the Deposit in accordance with the joint written instructions of Seller and Purchaser if any of the following events occur: (i) if this Agreement shall be terminated by the mutual written agreement of Seller and
Purchaser, or (ii) if the Escrow Agent shall be unable to determine at any time to whom the Deposit should be paid, or (iii) if a dispute shall develop between Seller and Purchaser concerning to whom the Deposit should be paid. In the
event that such written instructions shall not be received by the Escrow Agent within ten (l0) days after the Escrow Agent has served a written request for instructions upon Seller and Purchaser, then the Escrow Agent shall have the right to pay the
Deposit into any court of competent jurisdiction and interplead Seller and Purchaser in respect thereof, and thereupon the Escrow Agent shall be discharged of any obligations in connection with this Agreement. 

(iii)    Subject to subsection (xi) below, if necessary costs or expenses are
incurred by the Escrow Agent in its capacity as the Escrow Agent because of litigation or a dispute between the Seller and Purchaser arising out of the holding of the Deposit in escrow, Seller and Purchaser shall each pay the Escrow Agent one-half
of such reasonable costs and expenses. Except for such costs or expenses, no fee or charge shall be due or payable to the Escrow Agent for its services as escrow holder only. 

(iv)    By joining herein, the Escrow Agent undertakes only to perform the duties and
obligations imposed upon the Escrow Agent under the terms of this Agreement and expressly does not undertake to perform any of the other covenants, terms and provisions incumbent upon Seller and Purchaser hereunder. 

(v)    Purchaser and Seller hereby agree and acknowledge that the Escrow Agent assumes no
liability in connection herewith except for negligence or willful misconduct; that the Escrow Agent shall never be responsible for the validity, correctness or genuineness of any document or notice referred to under this Agreement; and that in the
event of any dispute under this Agreement, the Escrow Agent may seek advice from its own counsel and shall be fully protected in any action taken by it in good faith in accordance with the opinion of its counsel. 

  
 3 

 (vi)     All investments by Escrow Agent will
be made in the regular course of business. To be entitled to same day investment (assuming good funds are provided), the Deposit must be received by noon; otherwise, such funds will be deposited on the next business day. All investments shall be
subject to the rules, regulations, policies and procedures of the bank depository (the “Depository”) in which such monies are deposited. 

(vii)     Purchaser agrees to deliver a W-9 to
Escrow Agent. 
 (viii)     The Deposit may be processed for collection in the normal
course of business by the Escrow Agent, but immediately thereafter the Deposit shall be deposited in a separate escrow account with the Depository and shall not be commingled with funds of others. The Escrow Agent shall not be accountable for any
incidental benefit which may be attributable to the funds so deposited. The Escrow Agent shall not be liable for any loss caused by the failure, suspension, bankruptcy or dissolution of the Depository. 

(ix)     The Escrow Agent shall not be liable for loss or damage resulting from: 

 

	 	(1)	 any good faith act or forbearance of the Escrow Agent; 

  

	 	(2)	 any default, error, action or omission of any party, other than the Escrow Agent; 

 

	 	(3)	 any defect in the title to any property unless such loss is covered under a policy of title insurance issued by the Escrow Agent;

  

	 	(4)	 the expiration of any time limit or other delay which is not solely caused by the failure of the Escrow Agent to proceed in its ordinary course of
business, and in no event where such time limit is not disclosed in writing to the Escrow Agent; 

  

	 	(5)	 the lack of authenticity of any writing delivered to the Escrow Agent or of any signature thereto, or the lack of authority of the signatory to
sign such writing; 

  

	 	(6)	 The Escrow Agent’s compliance with all attachments, writs, orders, judgments, or other legal process issued out of any court;

  

	 	(7)	 The Escrow Agent’s assertion or failure to assert any cause of action or defense in any judicial or administrative proceedings; or

  

	 	(8)	 any loss or damage which arises after the Deposit has been disbursed in accordance with the terms of this Agreement. 

(x)    The Escrow Agent shall be fully indemnified by the parties hereto for all of its
expenses, costs, and reasonable attorney’s fees incurred in connection with any interpleader action which the Escrow Agent may file to resolve any dispute as to the Deposit, or which may be filed against the Escrow Agent. 

  
 4 

 (xi)    If the Escrow Agent is made a party
to any judicial, non-judicial or administrative action, hearing or process based on acts of any of the other parties hereto and not on the malfeasance and/or negligence of the Escrow Agent in performing its duties hereunder, the expenses, costs and
reasonable attorneys’ fees incurred by the Escrow Agent in responding to such action, hearing or process shall be paid by the party/parties whose alleged acts are a basis for such proceedings, and such party/parties shall indemnify, save and
hold the Escrow Agent harmless from said expenses, costs and fees so incurred. 
 ARTICLE III -- DELIVERIES BY SELLER

 Seller covenants to deliver the following at its sole cost and expense to Purchaser no later than five
(5) days after the Effective Date: 
 A.    A copy of any environmental report in respect of the
Property in Seller’s possession, if any. 
 B.    A copy of any soils reports on the Land in
Seller’s possession, if any. 
 C.    A copy of the latest dated as-built survey of the Land in
Seller’s possession, if any. 
 D.    A copy of the latest ad valorem tax bills in Seller’s
possession, if any. 
 E.    Copies of all engineering reports, title insurance commitments and policies
and title exception documents, topographic surveys, site plans, warranties, guaranties, appraisals, operating contracts, leases, utility bills, permits, plans, maps, topographic and tree surveys, zoning information, traffic studies and wetlands
reports in Seller’s possession, if any, with respect to all or any part of the Property. 

F.    Copies of all approvals from any governmental entities in Seller’s possession, if any, with
respect to all or any part of the Property. 
 G.    Copies of all contracts affecting the Property, in
Seller’s possession, if any, with respect to all or any part of the Property, including, without limitation, copies of all Permitted Contracts (hereinafter defined). 

H.    Copies of all utility capacity letters in Seller’s possession, if any, with respect to all or
any part of the Property. 
 I.    A copy of the Application for Limitation of Liability and Corrective
Action Plan (the “CAP”), if any, that Seller may have filed, or that Seller’s predecessor-in-title may have filed (to the extent the same is in Seller’s possession), with the State of Georgia Environmental

  
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Protection Division (the “GA EPD”), together with copies of all amendments to the CAP and all written notices and other communications (including, without limitation, all
compliance status reports) to and from the GA EPD (or any other governmental authority) with respect the CAP in Seller’s possession. 

ARTICLE IV -- TITLE AND SURVEY 

The obligation of Purchaser to close and consummate the transaction contemplated herein shall be subject to Purchaser’s
being able to acquire title to the Property subject only to those matters approved or deemed approved by Purchaser in accordance with this Article IV. 

A.    Purchaser, at Purchaser’s sole cost and expense, may obtain a currently dated ALTA survey of
the Property (the “Survey”). At Closing, upon Purchaser’s request, Seller shall execute a quitclaim deed in favor of Purchaser using the legal description of the Property based on the Survey. 

B.    In addition to the conditions precedent set forth in Article XI, it shall be a
condition precedent to the obligation of Purchaser to close and consummate the transaction contemplated herein that Seller convey to Purchaser fee simple title to the Property free and clear of all liens, leases, encumbrances, easements,
encroachments, restrictions, covenants, assessments, charges, agreements and taxes, except for those matters approved or deemed approved by Purchaser pursuant to this Article IV (the “Permitted Exceptions”). On or before 5:00
pm on the sixtieth (60th) day after the Effective Date (the “Hard Date”), Purchaser shall deliver to Seller a title commitment from a nationally recognized title
company selected by Purchaser (the “Title Company”) committing to insure Purchaser’s title to the Property in the amount of the Purchase Price (the “Title Commitment”), together with a statement
of any objections to Seller’s title to the Property and any objections as to matters disclosed by the Survey (the “Objection Notice”). Within ten (10) days after receipt of the Objection Notice, Seller may notify
Purchaser whether it elects to cure any such objections, it being agreed that Seller has no obligation to do so except as otherwise specifically provided in this Agreement. In the event Seller fails to notify Purchaser whether it elects to cure any
such objections within said ten (10) day period, Seller shall be deemed to have elected to not cure any such objections. In the event that Seller elects not to cure all such objections, within five (5) days after receipt of Seller’s
election, or within fifteen (15) days after the date of the Objection Notice in the event Seller fails to notify Purchaser whether it elects to cure any such objections within ten (10) days after receipt of the Objection Notice,
(i) Purchaser may terminate this Agreement and receive a full refund of the Deposit from Escrow Agent, and thereafter this Agreement shall be null and void and of no further force or effect, and neither Purchaser nor Seller shall have any
further rights, duties, liabilities or obligations to the other by reason hereof, except for those matters that specifically survive such termination, or (ii) Purchaser may waive such objections and consummate the transaction contemplated
herein without reduction of the Purchase Price.  
 C.    Purchaser shall have the right
to update its title and survey examinations of the Property until the Closing Date, and in the event that such update of examinations discloses any matters (a “New Objection”) other than those shown on the Survey or the Title
Commitment or 

  
 6 

 
approved or deemed approved by Purchaser pursuant to Section IV B which first occurred or appeared of record after the date of the Survey or Title Commitment, respectively, Purchaser
shall deliver to Seller a statement of any New Objections within ten (10) days after obtaining knowledge thereof and Seller shall have until the Closing Date to cure any New Objections. In the event that Seller does not cure all New Objections
of which Seller received written notice as provided herein, or all objections Seller agreed to cure pursuant to Section IV B herein on or before the Closing Date, (i) Purchaser may terminate this Agreement and receive a full refund of
the Deposit from Escrow Agent, and thereafter this Agreement shall be null and void and of no further force or effect, and neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the other by reason hereof,
except for those matters that specifically survive such termination; (ii) Purchaser may cure the New Objections which arise by or through Seller and deduct the reasonable cost thereof from the Purchase Price otherwise payable by Purchaser at
Closing or (iii) Purchaser may waive such objections and consummate the transaction contemplated herein without reduction of the Purchase Price. 

D.    Notwithstanding anything to the contrary contained herein, on or before the Closing Seller shall
cause to be released of record any deed to secure debt, mortgage, collateral assignment of leases, or any other monetary lien or encumbrance affecting the Property, which either (i) Seller agreed to cure pursuant to Section IV B herein on or
before the Closing Date or (ii) is a New Objection; provided, however, as to any such monetary lien or encumbrance which in accordance with Georgia law can be discharged from the Property by the posting of a bond, Seller shall have the right to
discharge such lien by the posting of an appropriate bond to effect such discharge. 

ARTICLE V -- SELLER’S COVENANTS, REPRESENTATIONS AND WARRANTIES 

Seller represents and warrants to Purchaser, and covenants with Purchaser, with the understanding that each such
representation, warranty and covenant (i) is material and being relied upon by Purchaser, (ii) is made as an inducement to Purchaser to enter into this Agreement and consummate the transaction contemplated hereby, and (iii) is true in
all respects as of the date of this Agreement, that: 
 A.    Seller has been duly organized and is
validly existing as a limited partnership in good standing in the State of Georgia. Seller has all requisite right, power and authority and has obtained any and all consents required to enter into this Agreement and to consummate or cause to be
consummated the transactions contemplated hereby. This Agreement has been, and all of the documents to be delivered by Seller at the Closing will be, authorized and properly executed and constitutes, or will constitute, as appropriate, the valid and
binding obligation of Seller, enforceable against Seller in accordance with their terms. 
 B.    There
is no administrative agency action, litigation, condemnation or other governmental proceeding of any kind pending or, to Seller’s knowledge (defined for all purposes herein as the actual knowledge, following reasonable inquiry, of John W.
Lundeen, III and Patricia L. Pearlberg), threatened against Seller or the Property which after the Closing would materially and adversely affect the ability of Purchaser to develop the Property as a multifamily development consistent with current
zoning regulations or as a preexisting non-conforming use. 

  
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 C.    Seller has not received any written notice of violation
of any zoning, land-use, building, fire, health, labor and safety laws, ordinances, rules and regulations applicable to the Property, and, to Seller’s knowledge, there is no litigation, action, proceeding or any present plan or study by any
governmental authority, agency or employee thereof, which in any way challenges, affects or would challenge or affect the Property or any street or highway serving or adjacent to the Property. 

D.    Seller is not a foreign person, foreign corporation, foreign partnership, foreign trust or foreign
estate as such terms are defined in Section 1445(f)(3) of the Internal Revenue Code of 1986, as amended. 

E.    To Seller’s knowledge, except as otherwise set forth herein and disclosed to Purchaser pursuant
to Article III hereof, the Property does not contain, no activity upon the Property has produced, and the Property has not been used in any manner for the storage of, any hazardous or toxic waste, materials, discharge, deposit, dumping or
contamination, whether of soil, ground water or otherwise, which violates any law, ordinance, rule or regulation of, or requires any reporting to, any governmental authority. To Seller’s actual knowledge, except as otherwise set forth herein
and as disclosed to Purchaser pursuant to Article III hereof, without independent investigation, the Property does not contain underground tanks of any type or any materials containing or producing any polychlorinated biphenyls or any asbestos. The
foregoing notwithstanding, Seller has disclosed to Purchaser that the Property has been enrolled in the Georgia Brownfields Program pursuant to the Georgia Hazardous Site Reuse and Redevelopment Act and is subject to an approved and completed CAP
filed with the GA EPD. 
 F.    There exists no leases, licenses or other agreements affecting the
occupancy or use of the Property that will survive the Closing other than (i) the Permitted Exceptions and (ii) those leases, licenses and other agreements described on Exhibit B attached hereto and by this reference
incorporated herein (the “Permitted Contracts”). For avoidance of doubt, but subject to the provisions of Section X E, Seller agrees to cause all leases, licenses, other occupancy agreements and service contracts, other than
the Permitted Exceptions and the Permitted Contracts, to be terminated prior to the Closing so that possession of the Property will be delivered by Seller to Purchaser at the Closing free of any rights of any third party to occupy any part of the
Property or to provide services to the Property pursuant to any service contract or similar agreement, other than the Permitted Exceptions and the Permitted Contracts. In furtherance thereof, from and after the Effective Date, Seller shall not enter
into any lease, license, or other occupancy agreement or service contract affecting the Property that requires more than thirty-five (35) days prior written notice of termination thereof by Seller. Seller shall deliver to the tenant, holder or
grantee of any lease, license, or other occupancy agreement or service contract affecting the Property a notice of termination within ten (10) days after Seller’s receipt of notice from Seller of the Closing Date, as provided in Section X
B. 

  
 8 

 G.    Other than the Permitted Contracts, there exists no
management, maintenance, operating, service, commission or similar contracts affecting the Property that will survive Closing. 

H.    Subsequent to the Effective Date and prior to the Closing, Seller will not convey, transfer or
encumber the Property or any part thereof or any interest therein, except for leases of individual apartment units which will be terminated by Seller pursuant to Section V F. 

I.    Seller, and all beneficial owners of Seller, are in compliance with all laws, statutes, rules and
regulations applicable to such Persons (as hereinafter defined) pursuant to the requirements of Executive Order No. 13224, 66 Fed. Reg. 49079 (September 25, 2001) (the “Order”) and other similar requirements contained in
the rules and regulations of the Office of Foreign Asset Control, Department of the Treasury (“OFAC”) and in any enabling legislation or other Executive Orders in respect thereof (the Order and such other rules, regulations,
legislation, or orders are collectively called the “Orders”). For purposes of this subsection, “Person” shall mean any corporation, partnership, limited liability company, joint venture, individual,
trust, real estate investment trust, banking association, federal or state savings and loan institution and any other legal entity, whether or not a party hereto. Neither Seller nor any of the beneficial owners of Seller: 

(i)    is listed on the Specially Designated Nationals and Blocked Persons List maintained
by OFAC pursuant to the Order and/or on any other list of terrorists or terrorist organizations maintained pursuant of any of the rules and regulations of OFAC or pursuant to any other applicable Orders (such lists are collectively referred to as
the “Lists”); 
 (ii)    has been arrested for money laundering
or for predicate crimes to money laundering, convicted or pled nolo contendere to charges involving money laundering or predicate crimes to money laundering; 

(iii)    has been determined by competent authority to be subject to the prohibitions
contained in the Orders; 
 (iv)    is owned or controlled by, nor acts for or on behalf
of, any Person on the Lists or any other Person who has been determined by competent authority to be subject to the prohibitions contained in the Orders; or 

(v)    shall knowingly transfer or permit the transfer of any interest in Seller or such
parties to any Person who is, or whose beneficial owners are, listed on the Lists. 
 If Seller or any beneficial owner of
Seller becomes listed on the Lists or are indicted, arraigned, or custodially detained on charges involving money laundering or predicate crimes to money laundering (each, a “Triggering Event”), Seller shall immediately
notify Purchaser, but in no event later than five (5) business days after the occurrence of the Triggering Event. In the event of a Triggering Event, Purchaser may terminate this Agreement upon written notice to

  
 9 

 
Seller, whereupon the Deposit, subject to compliance with applicable governmental regulations, shall be returned to Purchaser, and neither party shall have any further obligation hereunder. At
Purchaser’s option, Seller shall have ten (10) business days after receipt of Purchaser’s notice to remove such party from any interest in Seller. 

Notwithstanding anything to the contrary in this Agreement, Purchaser’s rights to enforce the representations, warranties
and covenants of Seller in this Article V shall survive the Closing for a period of six (6) months thereafter and such rights to enforce shall not be merged into any documents delivered by Seller at Closing. 

ARTICLE VI -- PURCHASER’S COVENANTS, 

REPRESENTATIONS AND WARRANTIES 

Purchaser represents and warrants to Seller, and covenants with Seller, with the understanding that each such representation,
warranty and covenant (i) is material and being relied upon by Seller, (ii) is made as an inducement to Seller to enter into this Agreement and consummate the transaction contemplated hereby, (iii) is true in all respects as of the
date of this Agreement, and (iv) shall be true in all respects on the Closing Date, that: 

A.    Purchaser has been duly organized and is validly existing as a limited partnership in good standing
in the State of Delaware. Subject to obtaining investment committee approval of the transaction contemplated herein, (i) Purchaser has all requisite right, power and authority and has obtained any and all consents required to enter into this
Agreement and to consummate or cause to be consummated the transactions contemplated hereby; and (ii) this Agreement and all of the documents to be delivered by Purchaser at the Closing will be authorized and properly executed and constitutes,
or will constitute, as appropriate, the valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with their terms. Purchaser agrees to use diligent efforts to obtain investment committee approval of the transaction
contemplated herein prior to the Hard Date. 
 B.    Purchaser, and all beneficial owners of Purchaser,
are in compliance with all laws, statutes, rules and regulations applicable to such Persons (as defined in Section V I) pursuant to the requirements of the Order and other similar requirements contained in the rules and regulations of OFAC and
in any enabling legislation or other Executive Orders in respect thereof. Neither Purchaser nor any of the beneficial owners of Purchaser: 

(i)    is listed on the Lists; 

(ii)    has been arrested for money laundering or for predicate crimes to money
laundering, convicted or pled nolo contendere to charges involving money laundering or predicate crimes to money laundering; 

(iii)    has been determined by competent authority to be subject to the prohibitions
contained in the Orders; 

  
 10 

 (iv)    is owned or controlled by, nor acts
for or on behalf of, any Person on the Lists or any other Person who has been determined by competent authority to be subject to the prohibitions contained in the Orders; or 

(v)    shall knowingly transfer or permit the transfer of any interest in Seller or such
parties to any Person who is, or whose beneficial owners are, listed on the Lists. 
 In the event of a Triggering Event
with respect to Purchaser or any beneficial owner of Purchaser, Purchaser shall immediately notify Seller, but in no event later than five (5) business days after the occurrence of the Triggering Event. In the event of a Triggering Event,
Seller may terminate this Agreement upon written notice to Purchaser, whereupon the Deposit, subject to compliance with applicable governmental regulations, shall be forwarded to Seller, and neither party shall have any further obligation hereunder.
At Seller’s option, Purchaser shall have ten (10) business days after receipt of Seller’s notice to remove such party from any interest in Purchaser. 

Notwithstanding anything to the contrary in this Agreement, Seller’s rights to enforce the representations, warranties
and covenants of Purchaser in this Article VI shall survive the Closing for a period of one (1) year and such rights to enforce shall not be merged into any documents delivered by Purchaser at Closing. 

ARTICLE VII -- ITEMS TO BE DELIVERED BY SELLER AT CLOSING 

Seller agrees to deliver the following items to Purchaser at Closing. Drafts of all documents to be delivered at Closing as
specified in this Agreement shall be prepared by Purchaser’s counsel and submitted to Seller for review and approval at least five (5) days prior to the Closing Date. 

A.    A (i) duly executed Special Warranty Deed, in form reasonably acceptable for recording, of the
type customarily used for commercial real estate transactions in the State of Georgia, conveying to Purchaser or its assigns, fee simple title to the Property subject only to the Permitted Exceptions, and free and clear of all service contracts and
rights of tenants, licensees, or others in possession of apartments located on the Property (except as provided in Section X E); and (ii) duly executed Quitclaim Deed, in form acceptable for recording, of the type customarily used for
commercial real estate transactions in the State of Georgia, if requested by Purchaser pursuant to Section IV A hereof. 

B.    A duly executed affidavit in a form customarily used for commercial real estate transactions in the
State of Georgia and which is reasonably acceptable to Purchaser and to the Title Company, showing among other things that all debts for labor and materials in respect of the Property incurred by or on behalf of Seller have been paid in full and
that there are no outstanding claims, suits, debts, rights of occupancy, encumbrances, liens or judgments against the Property, except Permitted Exceptions. 

  
 11 

 C.    A duly executed Certification of Non-Foreign Status
that pursuant to Section 1445 of the Internal Revenue Code, certifies Seller is not a foreign person, foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal Revenue Code and Income
Tax Regulations), provided that if Seller cannot execute such Certification because Seller is a foreign person, Purchaser shall withhold such portion of the Purchase Price as is required by law. 

D.    A duly executed Affidavit that no withholding is due as respects O.C.G.A. §48-7-128. 

E.    A duly executed Bill of Sale, with inventory attached, conveying to Purchaser the Personal Property
in its “AS IS, WHERE IS” condition, with a warranty as to free and clear title only and, otherwise, with no representation or warranty of any kind whatsoever. 

F.    Such evidence as is reasonably required by the Title Company and the Purchaser evidencing the
authority of Seller and those individuals acting on behalf of Seller to enter into this Agreement and consummate the transaction contemplated herein. 

G.    A Closing Statement evidencing the prorations between Seller and Purchaser and disbursements made in
connection with this transaction (the “Closing Statement”). 
 H.    Any other
documents referred to or specified in this Agreement or reasonably required by the Title Company, and any other documents or agreements deemed reasonably necessary or reasonably appropriate by Purchaser’s and Seller’s respective counsel.

 ARTICLE VIII -- ITEMS TO BE DELIVERED BY PURCHASER AT CLOSING 

Purchaser agrees to deliver the following items to Seller at Closing: 

A.    The Purchase Price in the manner specified in Article II hereof. 

B.    A counterpart of the Closing Statement. 

C.    Evidence reasonably acceptable to Seller and acceptable to Lender and the Title Company that those
acting for Purchaser have full authority to execute documents on behalf of Purchaser and consummate this transaction in accordance with the terms of this Agreement as modified through the Closing 

D.    Any other items and documents reasonably required to be delivered pursuant to this Agreement or
deemed reasonably necessary or appropriate by Purchaser’s and Seller’s counsel in connection with this transaction. 

  
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 ARTICLE IX -- APPORTIONMENTS 

Seller shall be entitled to receive any income in respect of the Property and shall be obligated to pay all expenses in
respect of the Property for all time periods prior to and including the day prior to the Closing Date. Purchaser shall be entitled to receive all such income and shall be obligated to pay all such expenses for all time periods commencing with the
Closing Date. In the event that the current year’s taxes are not available as of the Closing Date, the proration shall be based upon such taxes for the preceding year, but such taxes shall be reprorated between Purchaser and Seller as soon as
the current year’s taxes are available, immediately upon demand being made therefor by either Purchaser or Seller. In the event that any income or any expense item relating to the period prior to the Closing Date is received or appears after
the Closing, such item(s) shall be adjusted between the Seller and the Purchaser within ten (10) days after such is discovered. This Article IX shall survive the Closing of the transaction contemplated herein. 

ARTICLE X -- TIME AND PLACE OF CLOSING, 

CLOSING COSTS AND POSSESSION 

A.    The consummation of the transaction contemplated herein shall take place through an escrow closing
conducted by the Escrow Agent, commencing at 10:00 A.M. on the first business day which is at least forty-five (45) days after Purchaser has obtained both the Final Rezoning and all Required Approvals (or waiver thereof by Purchaser in
accordance with the terms of this Agreement), but in any event no later than one hundred eighty (180) days after Purchaser has received the Final Rezoning; provided, however, Purchaser shall have a one-time right to extend the Closing for up to
sixty (60) days, provided that in connection with such extension, (i) Purchaser must notify Seller at least forty-five (45) days prior to the date otherwise established as the Closing Date (as provided above), and (ii) together
with a copy of such notice being sent to the Escrow Agent, Purchaser must pay to the Escrow Agent an additional One Hundred Thousand and No/100 Dollars ($100,000.00) earnest money deposit, which upon receipt by the Escrow Agent shall be deposited in
the same escrow account as was deposited the Deposit, and which after receipt by the Escrow Agent shall be included within the definition of and shall be a part of the “Deposit”. 

B.    Purchaser shall provide Seller at least forty-five (45) days’ prior notice of the date
established as the Closing Date (as may be extended pursuant to Section X A), and together with a copy of such notice being sent to the Escrow Agent, Purchaser must pay to the Escrow Agent an additional Four Hundred Thousand and No/100 Dollars
($400,000.00) earnest money deposit, which upon receipt by the Escrow Agent shall be deposited in the same escrow account as was deposited the Deposit, and which after receipt by the Escrow Agent shall be included within the definition of and shall
be a part of the “Deposit”. Upon Purchaser’s delivery to Seller of notice of the date established as the Closing Date pursuant to this Section X B, Purchaser’s right to deliver notice of extension of the Closing Date pursuant to
Section X A (if not previously delivered by Purchaser to Seller) shall thereafter be null and void. 

  
 13 

 C.    Seller and Purchaser each agrees to deliver to the
Escrow Agent the documents and instruments required of it, respectively, as provided in this Agreement, and Purchaser agrees to deliver to the Escrow Agent the amount of the Purchase Price and the costs and expenses and net amount of prorations
specified in this Agreement, all sufficiently in time so as to allow the Escrow Agent to conduct the Closing on the Closing Date. The consummation of the transaction contemplated herein is herein referred to as the “Closing”,
and the day the Closing occurs is herein referred to as the “Closing Date”. 

D.    At the Closing, Seller shall pay the Georgia transfer tax incident to the Limited Warranty Deed. At
the Closing, Purchaser shall pay the cost of the title examination and owner’s title insurance policy premium, the cost of the Survey, and all recording fees. Seller and Purchaser will each pay their own attorneys’ fees and any other costs
herein specified to be paid by either of them. 
 E.    Possession of the Property shall be given by
Seller to Purchaser at Closing free and clear of all service contracts and rights of tenants, licensees, or others in possession of apartments located on the Property, other than the Permitted Contracts. At least two (2) Business Days prior to
the date established for the Closing, Seller shall provide Purchaser with a written list identifying each tenant, holder or grantee, if any, of any lease, license, or other occupancy agreement affecting the Property who is expected to remain on the
Property on the date established for the Closing (each a “Holdover Tenant”). Any provision of this Agreement to the contrary notwithstanding, 

(1)    in the event any Holdover Tenant remains on the Property on the date established as
the Closing Date (as may be extended pursuant to Section X A), Purchaser, in its sole discretion, may elect to (i) proceed with the Closing but require Escrow Agent to withhold $100,000 of the Purchase Price to be applied after the Closing by
written agreement of Purchaser and Seller as necessary to remove any Holdover Tenant from the Property, with the balance, if any, to be paid by Escrow Agent to Seller at such time as all Holdover Tenants have vacated the Property; or
(ii) extend the Closing for up to one hundred twenty (120) days (the “Initial Holdover Period”) (the Initial Holdover Period being in addition to Purchaser’s sixty-day extension right, if applicable) or, if sooner,
the first business day which is at least thirty (30) days after Seller notifies Purchaser that the condition set forth in this Section X E has been satisfied; 

(2)    in the event Purchaser elects to exercise the option provided in item (ii) of
subsection (1) above, and any Holdover Tenants remain on the Property at the end of the Initial Holdover Period, Purchaser, in its sole discretion, shall have a right to elect to (i) terminate this Agreement and receive a prompt refund of
so much of the Deposit as is then held by Escrow Agent, after which this Agreement shall be null and void and of no further force or effect and neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the
other by reason hereof; (ii) proceed with the Closing but require Escrow Agent to withhold $100,000 of the Purchase Price to be applied after the Closing by written agreement of Purchaser and Seller as necessary to remove any Holdover Tenant
from the Property, with the balance, if any, to be paid by 

  
 14 

 
Escrow Agent to Seller at such time as all Holdover Tenants have vacated the Property; or (iii) extend the Closing for up to an additional one hundred twenty (120) days (the
“Second Holdover Period”) or, if sooner, no later than the first business day which is at least thirty (30) days after Seller notifies Purchaser that the condition set forth in this Section X E has been satisfied; and 

(3)    In the event Purchaser elects to exercise the option provided in item (iii) of
subsection (2) above, and any Holdover Tenants remain on the Property at the end of the Second Holdover Period, Purchaser, in its sole discretion, shall have a right to elect to (i) terminate this Agreement and receive a prompt refund of
so much of the Deposit as is then held by Escrow Agent, after which this Agreement shall be null and void and of no further force or effect and neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the
other by reason hereof; or (ii) proceed with the Closing but require Escrow Agent to withhold $100,000 of the Purchase Price to be applied after the Closing by written agreement of Purchaser and Seller as necessary to remove any Holdover Tenant
from the Property, with the balance, if any, to be paid by Escrow Agent to Seller at such time as all Holdover Tenants have vacated the Property. 

ARTICLE XI -- CONDITIONS PRECEDENT 

In addition to the condition precedent set forth in Article IV and Section X E, Purchaser shall not be required to consummate
its acquisition of the Property unless the following conditions precedent have been satisfied: 

A.    On or before the Hard Date, Purchaser may, but shall have no obligation to, obtain soil borings,
engineering reports, geotechnical studies, marketing studies, topographical surveys, environmental tests and studies and evidence of availability of water, telephone, natural gas, and electrical utilities all in sufficient capacities so as to permit
the development of the Property for Purchaser’s intended use as a multifamily residential development with a minimum of two hundred eighty (280) Units (the “Intended Use”) without the imposition of impact fees, cash
proffers or unacceptable conditions as determined by Purchaser in its sole discretion. Seller shall permit Purchaser to make the foregoing investigations. Purchaser shall determine on or before the Hard Date, in its sole discretion, whether or not
the condition of the Property is satisfactory. If Purchaser determines the Property is satisfactory, Purchaser shall, on or before the Hard Date notify Seller and Escrow Agent that the Property is satisfactory and this condition precedent has been
satisfied (which notice is herein referred to as “Notice to Proceed”), and Purchaser shall pay the Second Deposit to Escrow Agent in accordance with Section II A(ii). If Purchaser, in its sole discretion, does not send
the Notice to Proceed on or before the Hard Date, or if Purchaser sends a notice to Seller and the Escrow Agent on or before the Hard Date that Purchaser will not be sending the Notice to Proceed and is terminating this Agreement, this condition
precedent shall have failed and Escrow Agent shall return the Initial Deposit to Purchaser and thereafter this Agreement shall terminate and be null and void and of no further force and effect, and neither Purchaser nor Seller shall have any further
rights, duties, liabilities or obligations to the other by reason hereof except for those matters that specifically survive such termination. Any provision of this Agreement to the contrary notwithstanding, upon delivery by Purchaser to Seller of
the 

  
 15 

 
Notice to Proceed, the Deposit shall be deemed non-refundable to Purchaser for any reason except for the following: (i) Seller’s termination of this Agreement pursuant to Article I
(unless Purchaser has vitiated such termination as provided in Article I); (ii) Purchaser’s termination of this Agreement pursuant to Article IV; (iii) Purchaser’s termination of this Agreement pursuant to Section X E;
(iv) any of the conditions set forth in Section XI B, XI C or XI D hereof has neither been satisfied by Seller nor waived by Purchaser as provided therein; (v) Purchaser’s termination of this Agreement in connection with a
condemnation or eminent domain proceeding pursuant to Section XII; and (vi) Seller’s default as contemplated by Section XIII B. 

B.    It shall be a condition precedent to Purchaser’s obligation to close and consummate the
transaction contemplated herein that the Property is rezoned from its current zoning classification to a zoning classification that will permit the development of the Property for the Intended Use (the “Final Rezoning”).
Promptly after the Hard Date (or such earlier date as may be determined by Purchaser in its sole discretion), Purchaser shall make application for the Final Rezoning. The zoning applications, related filings and all amendments thereof, and all
agreements and waivers relating thereto, shall be subject to Seller’s prior written approval, which approval shall not be unreasonably withheld or delayed. Purchaser agrees to pursue the zoning application with due diligence and in good faith.
All costs associated with the zoning application shall be paid by Purchaser. Seller shall fully cooperate in Purchaser’s rezoning efforts, and shall, upon Purchaser’s request, sign any documents reasonably required in connection therewith,
subject to Seller’s written approval thereof as hereinabove provided. The rezoning of the Property shall become “Final Rezoning”, as the term “Final Rezoning” is used herein, on the date that such rezoning has been granted
by the appropriate officials of Roswell, Georgia, pursuant to the application filed by Purchaser, and any and all appeal periods as provided by law have expired without an appeal or suit having been filed, or, if filed, with such suit or appeal
dismissed or resolved finally and conclusively in favor of such rezoning, and, at the expiration of such appeal periods, or at the conclusion of such appeal or suit, the rezoning of the Property shall not have been further changed or withdrawn by
the appropriate officials of Roswell, Georgia. In the event that: (i) Purchaser’s rezoning has been denied; (ii) Purchaser’s rezoning has been approved but at a density of fewer than two hundred eighty (280) Units on the
Property; or (iii) Purchaser’s rezoning has neither been denied nor become “Final Rezoning” within two hundred ten (210) days after the Hard Date, then Purchaser shall, by written notice delivered to Seller and Escrow Agent
no later than ten (10) days after the earlier of the date of such denial or approval or that date which is two hundred ten (210) days after the Hard Date, elect to either (i) terminate this Agreement and receive a prompt refund of so
much of the Deposit as is then held by Escrow Agent, after which this Agreement shall be null and void and of no further force or effect and neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the other
by reason hereof except for those matters that specifically survive such termination, or (ii) waive the provisions of this Section XI B and accept the Property without “Final Rezoning”, whereupon the parties shall proceed to close the
purchase and sale of the Property as contemplated herein. Any provision of this Agreement to the contrary notwithstanding, upon obtaining Final Rezoning by Purchaser, the Deposit shall be deemed non-refundable to Purchaser for any reason except for
the following: (i) Seller’s termination of this Agreement pursuant to Article I (unless Purchaser has vitiated such termination as provided in Article I); (ii) Purchaser’s termination of this Agreement pursuant to Article IV;
(iii) Purchaser’s termination of this 

  
 16 

 
Agreement pursuant to Section X E; (iv) either of the conditions set forth in Section XI C or XI E hereof has neither been satisfied by Seller nor waived by Purchaser as provided therein;
(v) Purchaser’s termination of this Agreement in connection with a condemnation or eminent domain proceeding pursuant to Section XII; and (vi) Seller’s default as contemplated by Section XIII B. 

C.    It shall be a condition precedent to Purchaser’s obligation to close and consummate the
transaction contemplated herein that Purchaser shall have obtained all required permits and approvals necessary in order for Purchaser to develop the Property for the Intended Use, including, without limitation, a land disturbance permit and a
building permit for development of the Property for the Intended Use (each, a “Required Approval” and collectively, “Required Approvals”). A Required Approval shall be deemed received on the date that
such Required Approval has been granted or issued by the appropriate officials of the applicable governmental agency or authority, and any and all appeal periods as provided by law have expired without an appeal or suit with respect to the Required
Approval having been filed, or, if filed, with such suit or appeal dismissed or resolved finally and conclusively in favor of the Required Approval, and, at the expiration of such appeal periods, or at the conclusion of such appeal or suit, the
Required Approval shall not have been further changed or withdrawn by the appropriate officials. Purchaser agrees to make application for all Required Approvals promptly following receipt of Final Rezoning and to pursue all Required Approvals with
due diligence and in good faith. If all Required Approvals have not been obtained within one hundred eighty (180) days after Final Rezoning (or waiver thereof as provided in Section XI B), Purchaser shall have the right (i) to notify
Seller and Escrow Agent that the condition precedent set forth in this Section XI C has failed and Escrow Agent shall return the Deposit to Purchaser, and thereafter this Agreement shall terminate and be null and void and of no further force
and effect, and neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the other by reason hereof except for those matters that specifically survive such termination; or (ii) to waive the condition
precedent set forth in this Section XI C. Any provision of this Agreement to the contrary notwithstanding, upon obtaining all Required Approvals by Purchaser, the Deposit shall be deemed non-refundable to Purchaser for any reason except for the
following: (i) Seller’s termination of this Agreement pursuant to Article I (unless Purchaser has vitiated such termination as provided in Article I); (ii) Purchaser’s termination of this Agreement pursuant to Article IV;
(iii) Purchaser’s termination of this Agreement pursuant to Section X E; (iv) any of the conditions set forth in Section XI D hereof has neither been satisfied by Seller nor waived by Purchaser as provided therein;
(v) Purchaser’s termination of this Agreement in connection with a condemnation or eminent domain proceeding pursuant to Section XII; and (vi) Seller’s default as contemplated by Section XIII B. 

D.    In addition to the conditions precedent set forth in Article IV, Section X E, and Sections
XI A, XI B, and XI C, Purchaser’s obligation to close and consummate the transaction contemplated herein is subject to satisfaction of all of the following conditions precedent: 

(a)    All representations and warranties of Seller contained herein are true and correct
as of the Effective Date and on the Closing Date; 

  
 17 

 (b)    Seller shall have performed and
complied with all agreements, obligations and conditions required by this Agreement to be performed or complied with by it on or prior to the Closing Date; 

(c)    There shall be no litigation or administrative action or other governmental
proceeding of any kind whatsoever pending, or threatened in writing, which seeks to restrain or prohibit or obtain damages or a discovery order with respect to, this Agreement or the purchase and sale of the Property, or which after the Closing Date
would or reasonably could materially adversely affect the Property or the ability of Purchaser to develop the Property for the Intended Use, and no proceedings shall be pending, or threatened in writing, which could or would cause the redesignation
or other modification of the zoning classification of, or any development or building code requirements applicable to, the Property and the Intended Use, which after the Closing Date would materially adversely affect the Property or the ability of
Purchaser to develop the Property for the Intended Use; and 
 (d)    Seller’s
delivery of title to and possession of the Property to Purchaser at the Closing in accordance with the terms of this Agreement. 

In the event any of the conditions precedent set forth in this Section XI D are not satisfied by Closing, Purchaser may
elect to (i) terminate this Agreement and receive a full refund of the Deposit from Escrow Agent, and thereafter this Agreement shall be null and void and of no further force or effect, and neither Purchaser nor Seller shall have any further
rights, duties, liabilities or obligations to the other by reason hereof, except for those matters that specifically survive such termination; or (ii) waive such conditions precedent and consummate the transaction contemplated herein without
reduction of the Purchase Price. 
 ARTICLE XII -- EMINENT DOMAIN 

If, prior to the Closing Date, there shall be any condemnation or eminent domain proceedings instituted or pending, or
threatened in writing, against any part of the Property (other than a proceeding contemplated as part of the Final Rezoning), then Purchaser may elect to terminate this Agreement by written notice given to Seller and the Escrow Agent within ten
(10) days after Purchaser has received notice from Seller of such proceedings, which notice Seller agrees to give to Purchaser promptly upon receiving such information. Upon such notice by Purchaser to Seller and the Escrow Agent, so much of
the Deposit as is then being held by the Escrow Agent shall be returned by the Escrow Agent to Purchaser, and upon such return, this Agreement shall terminate and be null and void and of no further force or effect, and neither Purchaser nor Seller
shall have any further rights, duties, liabilities or obligations to the other by reason hereof except for the Inspection Indemnity. Failure of Purchaser to so notify Seller and the Escrow Agent within said ten (10) days that Purchaser has
elected to terminate this Agreement, shall be deemed to mean that Purchaser has elected not to terminate this Agreement. If Purchaser does not so elect to terminate this Agreement, then the Closing shall take place as provided herein without
abatement of the Purchase Price, and there shall be paid or assigned to Purchaser at Closing all interest of Seller in and to any condemnation awards which have been or may be payable to Seller on account of such occurrence. 

  
 18 

 ARTICLE XIII -- REMEDIES 

A.    Seller’s only remedy for Purchaser’s breach of this Agreement shall be to obtain so much
of the Deposit as is then required to be tendered by Purchaser to Escrow Agent, the amount of which shall be and constitute Seller’s liquidated damages, it being otherwise difficult or impossible to estimate Seller’s actual damages. Seller
hereby waives any right to specific performance, injunctive relief or other relief to cause Purchaser to perform its obligations under this Agreement, and Seller hereby waives any right to damages in excess of said liquidated damages occasioned by
Purchaser’s breach of this Agreement. Seller and Purchaser acknowledge that it is impossible to estimate or determine the actual damages Seller would suffer because of Purchaser’s breach hereof, but that the liquidated damages provided
herein represent a reasonable estimate of such actual damages and Seller and Purchaser therefore intend to provide for liquidated damages as herein provided, and that the agreed upon liquidated damages are not punitive or penalties and are just,
fair and reasonable. Seller’s right to receive the specified liquidated damages is in lieu of any other right or remedy, all other rights and remedies being waived by Seller. Nothing contained in this Section XIII A shall limit the
Inspection Indemnity. 
 B.    Except as otherwise specifically provided herein, if Seller defaults
under this Agreement, Purchaser shall be entitled, as its only remedies hereunder, to either: (i) close the transaction contemplated by this Agreement, thereby waiving such default, or (ii) terminate this Agreement and receive a return of
so much of the Deposit as is then held by Escrow Agent, or (iii) seek specific performance of this Agreement and of Seller’s obligations, duties and covenants hereunder; provided, however, if the remedy of specific performance is not
available because Seller has sold or encumbered the Property after the Effective Date, then Purchaser shall have the right to sue Seller for the damages suffered because of Seller’s default. Failure of Purchaser to obtain Final Rezoning or
Final Approvals shall not be deemed to constitute an event of default on the part of Seller. 
 ARTICLE XIV -- ACCESS

 Purchaser and its agents and representatives shall have the right to enter upon the Property at any reasonable
time prior to the Closing Date for any lawful purpose including, without limitation, verifications of information, investigations, tests and studies, provided that Purchaser shall use commercially reasonable efforts during any such entry to minimize
interference with the management and operation of the Property by Seller, and provided further, Purchaser and its agents and representatives shall not enter any occupied apartment without providing twenty-four (24) hours written notice to
Seller identifying such apartment and specifying a time for entry therein between the hours of 9:00 a.m. and 5:00 p.m., and without being accompanied by an agent of Seller. During such period Seller shall furnish to Purchaser all non-proprietary
information in Seller’s possession concerning the Property that Purchaser may reasonably request. In the event that Purchaser does not consummate the transaction contemplated in this Agreement, Purchaser shall restore any damage or destruction
caused to the 

  
 19 

 
Property by Purchaser. Purchaser hereby agrees to indemnify, defend and hold Seller harmless from any damage to persons or property, whether actual or alleged, occasioned by Purchaser’s and
its agent’s and representative’s actions on the Property pursuant to this Article XIV. The indemnity set forth in this Article XIV is herein referred to as the “Inspection Indemnity” which shall survive the
Closing and any termination of this Agreement. 
 ARTICLE XV -- BROKERS 

Purchaser and Seller hereby represent to each other that no real estate broker or agent was involved in negotiating the
transaction contemplated herein. In the event any claim(s) for real estate commissions, fees or compensation arise in connection with this Agreement and the transaction contemplated herein, Purchaser and Seller further covenant and agree that the
party so incurring or causing such claim(s) shall indemnify, defend and hold harmless the other party from any loss, claim or damage which the other party suffers because of said claim(s). The provisions of this Article XV shall survive the Closing
or any earlier termination of this Agreement. 
 ARTICLE XVI -- NOTICES 

All notices, demands, consents, approvals and other communications which are required or desired to be given by either party
to the other hereunder shall be in writing and shall be either hand-delivered or sent by FedEx or other similar overnight delivery service, charges prepaid, addressed to the appropriate party at its address set forth below, or at such other address
as such party shall have last designated by notice to the other. Notices, demands, consents, approvals, and other communications shall be deemed given when hand-delivered or when delivered to FedEx or similar overnight courier service and shall be
effective if executed and sent by the parties’ counsel. 
 To Seller: 

Roswell Commons Group, L.P. 

c/o Coro Realty Advisors, LLC 

3715 Northside Parkway 

Building 400, Suite 100 

Atlanta, Georgia 30327 

Attn: Mr. John Lundeen 

With a copy to: 

McClure & Kornheiser, LLC 

6400 Powers Ferry Road, Suite 150 

Atlanta, Georgia 30339 

Attn: Jay Y. McClure, Esq. 

  
 20 

 To Purchaser: 

Lennar Multifamily Investors, LLC 

6285 Barfield Road, Suite 300 

Atlanta, Georgia 30328 

Attn: Mr. Christopher Cassidy 

With a copy to: 

Holt Ney Zatcoff & Wasserman, LLP 

100 Galleria Parkway, Suite 1800 

Atlanta, Georgia 30339 

Attn: Sanford H. Zatcoff, Esq. 

To Escrow Agent: 

Fidelity National Title Group 

National Title Services 

200 Galleria Pkwy, Suite 2060 

Atlanta, Georgia 30339 

Attn: Erika L. Peeke, Sr. Transaction Specialist 

ARTICLE XVII -- MISCELLANEOUS 

A.    This Agreement constitutes the entire agreement between the parties hereto and cannot be changed or
modified other than by a written agreement executed by both Purchaser and Seller. This Agreement supersedes all previous agreements and understanding between the parties hereto with respect to the subject matter hereof. 

B.    Irrespective of the place of execution or performance, this Agreement shall be governed by and
construed in accordance with the laws of the State of Georgia. This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing this Agreement to be drafted. If any words or phrases
in this Agreement shall have been stricken out or otherwise eliminated, whether or not any other words or phrases have been added, this Agreement shall be construed as if the words or phrases so stricken out or otherwise eliminated were never
included in this Agreement and no implication or inference shall be drawn from the fact that said words or phrases were so stricken out or otherwise eliminated. All terms and words used in this Agreement regardless of the number or gender in which
they are used, shall be deemed to include any other number and any other gender as the context may require. 

C.    This Agreement may be executed in multiple counterparts and shall be deemed to have become effective
when and only when one or more of such counterparts has been signed by or on behalf of each of the parties to this Agreement and delivered to the other party (although it 

  
 21 

 
shall not be necessary that any single counterpart be signed by or on behalf of both parties hereto, and all such counterparts shall be deemed to constitute one and the same instrument).
Furthermore, the parties agree that (i) this Agreement may be transmitted between them by facsimile transmission or email, (ii) that signature pages to this Agreement may be transmitted between them by facsimile transmission or email,
(iii) that facsimile or PDF signatures sent by email shall have the effect of original signatures, and (iv) that a faxed or emailed Agreement containing the signatures (original, faxed or emailed) of all the parties hereto shall be binding
on a party when the signature page of such party is transmitted to the other party hereto accompanied by instructions to insert same into a complete original of this Agreement. 

D.    In the event that the last day for performance of any matter herein falls on a Saturday, Sunday or
legal holiday, the time for performance shall automatically be extended to the next business day. Time is of the essence of this Agreement and each term and provision hereof. 

E.    If any term, covenant or condition of this Agreement or the application thereof to any person or
circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Agreement and the application of such terms, covenants and conditions to persons or circumstances other than those as to which it is held invalid or unenforceable,
shall not be affected thereby and each term, covenant and condition of this Agreement shall be valid and be enforced to the fullest extent permitted by law. 

F.    All rights, powers and privileges conferred hereunder upon the parties unless otherwise provided
shall be cumulative and not restricted to those given by law. 
 G.    No failure of any party to
exercise any power given such party hereunder or to insist upon strict compliance by any other party to its obligations hereunder, and no custom or practice of the parties in variance with the terms hereof, shall constitute a waiver of any
party’s right to demand exact compliance with the terms hereof. 
 H.    Purchaser reserves the
right to waive, in whole or in part, any condition or contingency herein which is for the Purchaser’s benefit. 

I.    The provisions of this Agreement shall extend to, bind and inure to the benefit of the parties
hereto and their respective heirs, executors, administrators, successors, permitted assigns and the legal representatives of their estates. 

J.    Notwithstanding any provisions to the contrary, whether expressed or implied, Purchaser shall have
the right to assign this Agreement and Seller shall accept the performance of Purchaser’s obligations hereunder by any such assignee. If this Agreement is assigned by Purchaser, any reference in this Agreement to Purchaser shall thereafter be
deemed to refer to such assignee. 
 [Signatures Commence On Next Page] 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed, sealed and delivered as of the Effective Date. 
  

			
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.

Its: General Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	                 By: Coro Realty Advisors, LLC

                Its: Manager

  

							
	                      By:	 	 /S/ John W. Lundeen
	 	[SEAL]	 	
	                      Name:	 	 John W. Lundeen, III
	 		 	
	                      Title:	 	 Manager
	 		 	

  

					
	PURCHASER:
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	 Chris Cassidy
	 	
	Title:	 	 Vice President
	 	
			
		 	            [SEAL]	 	

 [Signatures Continue On Next Page] 

  
 23 

 Fidelity National Title Group joins in the execution of this Agreement under seal for the purpose
of acknowledging the agreement as to the escrow of the Deposit. 
  

					
	ESCROW AGENT:
	
	FIDELITY NATIONAL TITLE GROUP
		
	By:	 	/S/ Lee Ann Branch
		 	Name:	 	Lee Ann Branch
		 	Title:	 	Escrow Manager
			
		 		 	              [SEAL]

  
 24 

 EXHIBIT A 

ALL that tract of land lying and being in Land Lot 426, 1st District, 2nd Section of Fulton County, Georgia and being more particularly
described as follows: 
 Commencing at the intersection of the northerly right-of-way of Norcross Street (variable right-of-way) and the
easterly right-of-way line of Frazier Street (variable right-of-way); Thence northerly along the right-of-way line of Frazier Street, a distance of 96.51 feet, to the point of beginning; Thence continuing along said Frazier Street right-of-way line
the following courses: North 88 degrees 31 minutes 16 seconds West, a distance of 10.05 feet, to a  1⁄2” rebar; Thence North 00 degrees 18 minutes 57
seconds East, a distance of 619.09 feet, to a  1⁄2” rebar; Thence leaving said right-of-way line, South 89 degrees 30 minutes 24 seconds East, a distance
of 584.40 feet, to a  1⁄2” rebar; Thence South 01 degrees 43 minutes 24 seconds East, a distance of 306.20 feet, to a
 1⁄2” rebar; Thence North 81 degrees 48 minutes 27 seconds East, a distance of 85.73 feet; Thence North 86 degrees 15 minutes 00 seconds East, a distance
of 78.20 feet, to a 1” open top pipe; Thence South 05 degrees 38 minutes 00 seconds West, a distance of 412.00 feet, to a  1⁄2” rebar on the
northerly right-of-way line of Norcross Street; Thence along said right-of-way line the following courses: South 82 degrees 17 minutes 37 seconds West, a distance of 115.00 feet; Thence South 84 degrees 52 minutes 45 seconds West, a distance of
84.99 feet, to a  1⁄2” rebar; Thence South 89 degrees 59 minutes 02 seconds West, a distance of 319.25 feet, to a
 1⁄2” rebar; Thence leaving said right-of-way line, North 00 degrees 09 minutes 00 seconds West, a distance of 116.00 feet, to a  1⁄2” rebar; Thence North 87 degrees 06 minutes 15 seconds West, a distance of 98.18 feet, to a  1⁄2” rebar; Thence South 00 degrees 52 minutes 19 seconds East, a distance of 15.84 feet, to a  1⁄2” rebar; Thence
North 88 degrees 31 minutes 16 seconds West, a distance of 93.45 feet to the point of beginning. 
 Said parcel contains 10.68 acres
(465,410 square feet) more or less. 

  
 25 

 EXHIBIT B 

NONE 

  
 26 

 AMENDMENT TO SALES CONTRACT 

THIS AMENDMENT TO SALES CONTRACT (the “Amendment”) is made, entered into, and effective as of the 22nd day of February, 2013, by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR MULTIFAMILY INVESTORS, LLC, a Delaware limited
liability company (“Purchaser”). 
 W I T N E S S E T H : 

WHEREAS, Seller and Purchaser are parties to that certain Sales Contract, dated as of January 10, 2013 (as
heretofore amended, the “Sales Contract”); and 
 WHEREAS, Seller and Purchaser are mutually
desirous of entering into this Amendment to further amend certain terms and provisions of the Sales Contract, only as specifically hereinafter set forth; 

NOW, THEREFORE, for and in consideration of the premises, Ten and No/100 Dollars ($10.00), in hand paid by Purchaser to
Seller, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by Purchaser and Seller prior to the execution, sealing and delivery of this Amendment, Purchaser and Seller, intending to be
legally bound, hereby agree as follows: 
 1.      The foregoing recital of facts is hereby
incorporated herein to the same extent as if hereinafter fully set forth. Capitalized words and phrases used herein which are not defined herein but which are defined in the Sales Contract shall have the meanings ascribed thereto in the Sales
Contract. 
 2.      Section IV B. of the Sales Contract is hereby amended by deleting from
the second sentence thereof: “On or before 5:00 pm on the sixtieth (60th) day after the Effective Date (the “Hard Date”),” and inserting in lieu thereof
“On or before 5:00 pm on April 10, 2013 (the “Hard Date”),”. 

3.      This Amendment relates only to the specific matters covered herein and shall not
constitute a consent to or waiver or modification of any other provision, term or condition of the Sales Contract. All terms, provisions, covenants, representations, warranties, agreements and conditions contained in the Sales Contract are ratified
and affirmed and shall remain in full force and effect, except as expressly amended by this Amendment. 

4.      This Amendment shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns. 
 5.      This Amendment may be
executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same
instrument. 

 6.      This Amendment shall be deemed to be a
contract made under, and for all purposes shall be construed in accordance with, the laws of the State of Georgia. 
 IN
WITNESS WHEREOF, the parties hereto have executed this Amendment effective as of the date first set forth above. 
  

	
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.
 Its: General
Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	                 By: Coro Realty Advisors, LLC

                Its: Manager

  

					
	                      By:	 	 /S/ John W. Lundeen
	 	[SEAL]
	                      Name:	 	 John W. Lundeen, III
	 	
	                      Title:	 	 Manager
	 	

  

					
	PURCHASER:	 	
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	 Chris Cassidy
	 	
	Title:	 	 V.P.
	 	
			
		 	            [SEAL]	 	

  
 2 

 SECOND AMENDMENT TO SALES CONTRACT 

THIS SECOND AMENDMENT TO SALES CONTRACT (the “Amendment”) is made, entered into, and effective as of
the 4th day of April, 2013, by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR MULTIFAMILY INVESTORS, LLC, a Delaware limited liability company
(“Purchaser”). 
 W I T N E S S E T H : 

WHEREAS, Seller and Purchaser are parties to that certain Sales Contract dated January 10, 2013 with respect to
the sale by Seller to Purchaser of property located in Fulton County, Georgia, which was amended by that certain First Amendment to Sales Contract dated February 22, 2013 (as amended, hereinafter referred to as the “Sales
Contract”); and 
 WHEREAS, Seller and Purchaser are mutually desirous of entering into this Amendment to
further amend certain terms and provisions of the Sales Contract, only as specifically hereinafter set forth; 
 NOW,
THEREFORE, for and in consideration of the premises, Ten and No/100 Dollars ($10.00), in hand paid by Purchaser to Seller, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by
Purchaser and Seller prior to the execution, sealing and delivery of this Amendment, Purchaser and Seller, intending to be legally bound, hereby agree as follows: 

1.      The foregoing recital of facts is hereby incorporated herein to the same extent as if
hereinafter fully set forth. Capitalized words and phrases used herein which are not defined herein but which are defined in the Sales Contract shall have the meanings ascribed thereto in the Sales Contract. 

2.      Section IV B of the Sales Contract is hereby amended by deleting from the second
sentence thereof the date “April 10, 2013” and by substituting in lieu thereof, the date “May 10, 2013”, so that the Hard Date is now May 10, 2013. 

3.      This Amendment relates only to the specific matters covered herein and shall not
constitute a consent to or waiver or modification of any other provision, term or condition of the Sales Contract. All terms, provisions, covenants, representations, warranties, agreements and conditions contained in the Sales Contract are ratified
and affirmed and shall remain in full force and effect, except as expressly amended by this Amendment. 

4.      This Amendment shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns. 
 5.      This Amendment may be
executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same
instrument. 

 6.      This Amendment shall be deemed to be a
contract made under, and for all purposes shall be construed in accordance with, the laws of the State of Georgia. 
 IN
WITNESS WHEREOF, the parties hereto have executed this Amendment effective as of the date first set forth above. 
  

	
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.
 Its: General
Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	                 By: Coro Realty Advisors, LLC

                Its: Manager

  

					
	                      By:	 	 /S/ John W. Lundeen
	 	[SEAL]
	                      Name:	 	 John W. Lundeen, III
	 	
	                      Title:	 	 President
	 	

  

					
	PURCHASER:	 	
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	 Chris Cassidy
	 	
	Title:	 	 Vice President
	 	
			
		 	            [SEAL]	 	

  
 2 

 THIRD AMENDMENT TO SALES CONTRACT 

THIS THIRD AMENDMENT TO SALES CONTRACT (the “Amendment”) is made, entered into, and effective as of
the 10th day of May, 2013, by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR MULTIFAMILY INVESTORS, LLC, a Delaware
limited liability company (“Purchaser”). 
 W I T N E S S E T H : 

WHEREAS, Seller and Purchaser are parties to that certain Sales Contract dated January 10, 2013 with respect to
the sale by Seller to Purchaser of property located in Fulton County, Georgia, which was amended by that certain First Amendment to Sales Contract dated February 22, 2013 and that certain Second Amendment to Sales Contract dated April 4,
2013 (as amended, hereinafter referred to as the “Sales Contract”); and 
 WHEREAS, Seller and
Purchaser are mutually desirous of entering into this Amendment to further amend certain terms and provisions of the Sales Contract, only as specifically hereinafter set forth; 

NOW, THEREFORE, for and in consideration of the premises, Ten and No/100 Dollars ($10.00), in hand paid by Purchaser to
Seller, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by Purchaser and Seller prior to the execution, sealing and delivery of this Amendment, Purchaser and Seller, intending to be
legally bound, hereby agree as follows: 
 1.      The foregoing recital of facts is hereby
incorporated herein to the same extent as if hereinafter fully set forth. Capitalized words and phrases used herein which are not defined herein but which are defined in the Sales Contract shall have the meanings ascribed thereto in the Sales
Contract. 
 2.      Section XI A of the Sales Contract provides that Purchaser shall have the
right to terminate the Sales Contract not later than May 10, 2013 (the Original Hard Date”) if Purchaser is unsatisfied with the Property. Purchaser and Seller desire to provide for a limited extension of the Original Hard Date to permit
Purchaser an additional thirty (30) days solely for the purpose of allowing Purchaser to determine whether (i) Purchaser is satisfied with respect to the right of the Property to drain storm water and run sanity sewer across, under and
through other properties to the east and (ii) the Georgia Environmental Protection Division will require Purchaser to conduct post construction environmental testing of improvements constructed on the Property by Purchaser, or further
amendments to the Brownfields Corrective Action Plan for the Property (collectively, the “Limited Due Diligence Items”). Therefore, the Original Hard Date of May 10, 2013 shall remain in effect as to all matters other than the Limited
Due Diligence Items, and Purchaser shall continue to have the right to terminate the Sales Contract not later than June 10, 2013 solely with respect to the Limited Due Diligence Items in accordance with the terms of Section XI A of the Sales
Contract. 

 3.      With respect to Section XI B of the Sales
Contract, Purchaser acknowledges that Final Rezoning, if approved, will be conditioned upon the recordation of a “Combination Plat” of the Property that has been approved by the appropriate officials of the City of Roswell, Georgia.
Accordingly, notwithstanding the satisfaction of the condition precedent set forth in Section XI B (if satisfied), Seller covenants and agrees to fully and timely cooperate in Purchaser’s efforts to obtain approval of its “Combination
Plat”, including, upon Purchaser’s request, signing any documents in connection therewith, subject to Seller’s written approval, which approval shall not be unreasonably withheld or delayed. 

4.      This Amendment relates only to the specific matters covered herein and shall not
constitute a consent to or waiver or modification of any other provision, term or condition of the Sales Contract. All terms, provisions, covenants, representations, warranties, agreements and conditions contained in the Sales Contract are ratified
and affirmed and shall remain in full force and effect, except as expressly amended by this Amendment. 

5.      This Amendment shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns. 
 6.      This Amendment may be
executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same
instrument. 
 7.      This Amendment shall be deemed to be a contract made under, and for all
purposes shall be construed in accordance with, the laws of the State of Georgia. 
 IN WITNESS WHEREOF, the parties
hereto have executed this Amendment effective as of the date first set forth above. 
  

	
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.
 Its: General
Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	                 By: Coro Realty Advisors, LLC

                Its: Manager

  

					
	                      By:	 	/S/ John W. Lundeen	 	[SEAL]
	                      Name:	 	John W. Lundeen, III	 	
	                      Title:	 	President	 	

  
 2 

 
					
	PURCHASER:	 	
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	Chris Cassidy	 	
	Title:	 	Vice President	 	
			
		 	            [SEAL]	 	

  
 3 

 FOURTH AMENDMENT TO SALES CONTRACT 

THIS FOURTH AMENDMENT TO SALES CONTRACT (the “Amendment”) is made, entered into, and effective as of
the 4th day of June, 2013, by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR MULTIFAMILY INVESTORS, LLC, a Delaware
limited liability company (“Purchaser”). 
 W I T N E S S E T H : 

WHEREAS, Seller and Purchaser are parties to that certain Sales Contract dated January 10, 2013 with respect to
the sale by Seller to Purchaser of property located in Fulton County, Georgia, which was amended by that certain First Amendment to Sales Contract dated February 22, 2013, that certain Second Amendment to Sales Contract dated April 4, 2013
and that certain Third Amendment to Sales Contract dated May 10, 2013 (as amended, hereinafter referred to as the “Sales Contract”); and 

WHEREAS, Seller and Purchaser are mutually desirous of entering into this Amendment to further amend certain terms and
provisions of the Sales Contract, only as specifically hereinafter set forth; 
 NOW, THEREFORE, for and in
consideration of the premises, Ten and No/100 Dollars ($10.00), in hand paid by Purchaser to Seller, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by Purchaser and Seller prior to
the execution, sealing and delivery of this Amendment, Purchaser and Seller, intending to be legally bound, hereby agree as follows: 

1.      The foregoing recital of facts is hereby incorporated herein to the same extent as if
hereinafter fully set forth. Capitalized words and phrases used herein which are not defined herein but which are defined in the Sales Contract shall have the meanings ascribed thereto in the Sales Contract. 

2.      Section II A(iii) of the Sales Contract is hereby amended by deleting the phrase
“within four (4) business days after Purchaser’s receipt of the Final Rezoning,” and inserting in lieu thereof “on or before July 3, 2013,”. 

3.      The last sentence of Section 2 of the Third Amendment to Sales Contract dated
May 10, 2013 is hereby amended to read as follows: “Therefore, the Original Hard Date of May 10, 2013 shall remain in effect as to all matters other than the Limited Due Diligence Items, and Purchaser shall continue to have the right
to terminate the Sales Contract not later than June 27, 2013 solely with respect to the Limited Due Diligence Items in accordance with the terms of Section XI A of the Sales Contract.” 

4.      This Amendment relates only to the specific matters covered herein and shall not
constitute a consent to or waiver or modification of any other provision, term or condition of the Sales Contract. All terms, provisions, covenants, representations, warranties, agreements and conditions contained in the Sales Contract are ratified
and affirmed and shall remain in full force and effect, except as expressly amended by this Amendment. 

 5.      This Amendment shall be binding upon and
shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. 

6.      This Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. 

7.      This Amendment shall be deemed to be a contract made under, and for all purposes shall
be construed in accordance with, the laws of the State of Georgia. 
 [Executions begin on next page] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment
effective as of the date first set forth above. 
  

	
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.
 Its: General
Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	                 By: Coro Realty Advisors, LLC

                Its: Manager

  

					
	                      By:	 	 /S/ John W. Lundeen
	 	[SEAL]
	                      Name:	 	John W. Lundeen, III	 	
	                      Title:	 	President	 	

  

					
	PURCHASER:	 	
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	Chris Cassidy	 	
	Title:	 	Vice President	 	
			
		 	            [SEAL]	 	

  
 3 

 FIFTH AMENDMENT TO SALES CONTRACT 

THIS FIFTH AMENDMENT TO SALES CONTRACT (the “Amendment”) is made, entered into, and effective as of
the 24th day of June, 2013, by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR MULTIFAMILY INVESTORS, LLC, a Delaware
limited liability company (“Purchaser”). 
 W I T N E S S E T H : 

WHEREAS, Seller and Purchaser are parties to that certain Sales Contract dated as of January 10, 2013 with respect
to the sale by Seller to Purchaser of property located in Fulton County, Georgia, which was amended by that certain First Amendment to Sales Contract dated as of February 22, 2013, that certain Second Amendment to Sales Contract dated as of
April 4, 2013, that certain Third Amendment to Sales Contract dated as of May 10, 2013 and that certain Fourth Amendment to Sales Contract dated as of June 4, 2013 (as amended, hereinafter referred to as the “Sales
Contract”); and 
 WHEREAS, Seller and Purchaser are mutually desirous of entering into this Amendment to
further amend certain terms and provisions of the Sales Contract, only as specifically hereinafter set forth; 
 NOW,
THEREFORE, for and in consideration of the premises, Ten and No/100 Dollars ($10.00), in hand paid by Purchaser to Seller, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by
Purchaser and Seller prior to the execution, sealing and delivery of this Amendment, Purchaser and Seller, intending to be legally bound, hereby agree as follows: 

1.      The foregoing recital of facts is hereby incorporated herein to the same extent as if
hereinafter fully set forth. Capitalized words and phrases used herein which are not defined herein but which are defined in the Sales Contract shall have the meanings ascribed thereto in the Sales Contract. 

2.      Section II A(iii) of the Sales Contract is hereby amended by deleting the phrase
“on or before July 3, 2013,” and inserting in lieu thereof “on or before August 1, 2013,”. 

3.      The last sentence of Section 2 of the Third Amendment to Sales Contract dated
May 10, 2013 (as amended by that certain Fourth Amendment to Sales Contract dated as of June 4, 2013) is hereby amended to read as follows: “Therefore, the Original Hard Date of May 10, 2013 shall remain in effect as to all
matters other than the Limited Due Diligence Items, and Purchaser shall continue to have the right to terminate the Sales Contract not later than July 26, 2013 solely with respect to the Limited Due Diligence Items in accordance with the terms
of Section XI A of the Sales Contract.” 

 4.      This Amendment relates only to the specific
matters covered herein and shall not constitute a consent to or waiver or modification of any other provision, term or condition of the Sales Contract. All terms, provisions, covenants, representations, warranties, agreements and conditions
contained in the Sales Contract are ratified and affirmed and shall remain in full force and effect, except as expressly amended by this Amendment. 

5.      This Amendment shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns. 
 6.      This Amendment may be
executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same
instrument. 
 7.      This Amendment shall be deemed to be a contract made under, and for all
purposes shall be construed in accordance with, the laws of the State of Georgia. 
 [Executions begin on next page] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment
effective as of the date first set forth above. 
  

	
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.
 Its: General
Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	                 By: Coro Realty Advisors, LLC

                Its: Manager

  

					
	                      By:	 	 /S/ John W. Lundeen
	 	[SEAL]
	                      Name:	 	John W. Lundeen, III	 	
	                      Title:	 	President	 	

  

					
	PURCHASER:	 	
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	Chris Cassidy	 	
	Title:	 	Vice President	 	
			
		 	            [SEAL]	 	

  
 3 

 SIXTH AMENDMENT TO SALES CONTRACT 

THIS SIXTH AMENDMENT TO SALES CONTRACT (the “Amendment”) is made, entered into, and effective as of
the 22nd day of July, 2013, by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR MULTIFAMILY INVESTORS, LLC, a Delaware
limited liability company (“Purchaser”). 
 W I T N E S S E T H : 

WHEREAS, Seller and Purchaser are parties to that certain Sales Contract (as amended, hereinafter referred to as the
“Sales Contract”) dated as of January 10, 2013 with respect to the sale by Seller to Purchaser of property located in Fulton County, Georgia, which was amended by that certain First Amendment to Sales Contract dated as of
February 22, 2013, that certain Second Amendment to Sales Contract dated as of April 4, 2013, that certain Third Amendment to Sales Contract dated as of May 10, 2013 (the “Third Amendment”), that certain Fourth
Amendment to Sales Contract dated as of June 4, 2013 (the “Fourth Amendment”) and that certain Fifth Amendment to Sales Contract dated as of June 24, 2013 (the “Fifth Amendment”); and 

WHEREAS, Seller and Purchaser are mutually desirous of entering into this Amendment to further amend certain terms and
provisions of the Sales Contract, only as specifically hereinafter set forth; 
 NOW, THEREFORE, for and in
consideration of the premises, Ten and No/100 Dollars ($10.00), in hand paid by Purchaser to Seller, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by Purchaser and Seller prior to
the execution, sealing and delivery of this Amendment, Purchaser and Seller, intending to be legally bound, hereby agree as follows: 

1.      The foregoing recital of facts is hereby incorporated herein to the same extent as if
hereinafter fully set forth. Capitalized words and phrases used herein which are not defined herein but which are defined in the Sales Contract shall have the meanings ascribed thereto in the Sales Contract. 

2.      Section II A(iii) of the Sales Contract is hereby amended by deleting the phrase
“on or before August 1, 2013,” and inserting in lieu thereof “on or before September 6, 2013,”. 

3.      Section 2 of the Third Amendment (as amended by the Fourth Amendment and the Fifth
Amendment) is hereby deleted in its entirety and the following new Section 2 is inserted in lieu thereof: 

2.      Section XI A of the Sales Contract provides that Purchaser shall have
the right to terminate the Sales Contract not later than May 10, 2013 (the “Original Hard Date”) if Purchaser is unsatisfied with the Property. Purchaser and Seller desire to provide for a limited extension of the Original Hard Date
to permit Purchaser to 

 
determine whether Purchaser is satisfied with respect to the right of the Property to drain storm water and run sanity sewer across, under and through other properties to the east (the
“Limited Due Diligence Item”). Therefore, the Original Hard Date of May 10, 2013 shall remain in effect as to all matters other than the Limited Due Diligence Item, and Purchaser shall continue to have the right to terminate the Sales
Contract not later than August 30, 2013 solely with respect to the Limited Due Diligence Item in accordance with the terms of Section XI A of the Sales Contract. 

4.      This Amendment relates only to the specific matters covered herein and shall not
constitute a consent to or waiver or modification of any other provision, term or condition of the Sales Contract. All terms, provisions, covenants, representations, warranties, agreements and conditions contained in the Sales Contract are ratified
and affirmed and shall remain in full force and effect, except as expressly amended by this Amendment. 

5.      This Amendment shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns. 
 6.      This Amendment may be
executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same
instrument. 
 7.      This Amendment shall be deemed to be a contract made under, and for all
purposes shall be construed in accordance with, the laws of the State of Georgia. 
 [Executions begin on next page] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment
effective as of the date first set forth above. 
  

	
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.
 Its: General
Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	               By: Coro Realty Advisors, LLC

              Its: Manager

  

					
	                     By:	 	 /S/ John W. Lundeen
	 	[SEAL]
	                     Name:	 	John W. Lundeen, III	 	
	                     Title:	 	President	 	

  

					
	PURCHASER:	 	
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	Chris Cassidy	 	
	Title:	 	Vice President	 	
			
		 	            [SEAL]	 	

  
 3 

 SEVENTH AMENDMENT TO SALES CONTRACT 

THIS SEVENTH AMENDMENT TO SALES CONTRACT (the “Amendment”) is made, entered into, and effective as of
the 30th day of August, 2013, by and between ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership (“Seller”), and LENNAR MULTIFAMILY INVESTORS, LLC, a Delaware
limited liability company (“Purchaser”). 
 W I T N E S S E T H : 

WHEREAS, Seller and Purchaser are parties to that certain Sales Contract (as amended, hereinafter referred to as the
“Sales Contract”) dated as of January 10, 2013 with respect to the sale by Seller to Purchaser of property located in Fulton County, Georgia, which was amended by that certain First Amendment to Sales Contract dated as of
February 22, 2013, that certain Second Amendment to Sales Contract dated as of April 4, 2013, that certain Third Amendment to Sales Contract dated as of May 10, 2013 (the “Third Amendment”), that certain Fourth
Amendment to Sales Contract dated as of June 4, 2013 (the “Fourth Amendment”), that certain Fifth Amendment to Sales Contract dated as of June 24, 2013 (the “Fifth Amendment”), and that certain Sixth
Amendment to Sales Contract dated as of July 22, 2013 (the “Sixth Amendment”); and 
 WHEREAS,
Seller and Purchaser are mutually desirous of entering into this Amendment to further amend certain terms and provisions of the Sales Contract, only as specifically hereinafter set forth; 

NOW, THEREFORE, for and in consideration of the premises, Ten and No/100 Dollars ($10.00), in hand paid by Purchaser to
Seller, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by Purchaser and Seller prior to the execution, sealing and delivery of this Amendment, Purchaser and Seller, intending to be
legally bound, hereby agree as follows: 
 1.      The foregoing recital of facts is hereby
incorporated herein to the same extent as if hereinafter fully set forth. Capitalized words and phrases used herein which are not defined herein but which are defined in the Sales Contract shall have the meanings ascribed thereto in the Sales
Contract. 
 2.      Pursuant to the Sixth Amendment, Section XI A of the Sales Contract
provides that Purchaser has the right to terminate the Sales Contract no later than August 30, 2013 solely with respect to the Limited Due Diligence Items specified in Section 2 of the Third Amendment (as amended by the Fourth Amendment,
the Fifth Amendment and the Sixth Amendment) and which are specified in paragraph 3 of the Sixth Amendment, such Limited Due Diligence Items consisting of Purchaser’s being satisfied with respect to the right of the Property to drain storm
water and run sanitary sewer across, under and through other properties to the east. 

 3.      As of the execution of this Amendment,
Purchaser has satisfied itself with respect to sanitary sewer. However, Purchaser’s issue respecting storm water drainage has not been fully and completely resolved. Therefore, and as an inducement for Purchaser to give the Notice to Proceed
which Purchaser and Seller agree shall be given by Purchaser and effective upon execution of this Amendment by Seller and Purchaser, Seller has agreed to make the accommodations respecting Purchaser’s concern regarding storm water drainage as
hereinafter set forth in this Amendment. 
 Purchaser has obtained a Title Commitment committing to insure Purchaser’s
right to drain storm water from the Land over, across, under and through properties to the east to Hog Waller Creek, but the Title Commitment regarding this issue provides that it will not insure Purchaser at Closing in the event that prior to
Closing an objection has been raised by an adjoining property owner to the east (or the condominium or homeowners’ association for any such property) as to the right of the Land to drain storm water over that property (an
“Objection”). Therefore, Seller and Purchaser agree that if the Closing occurs and the Title Company provides the coverage respecting storm water drainage as provided in the Title Commitment, Seller’s obligation with respect to
such issue shall be terminated. However, in the event that the Closing occurs and the Title Company refuses to provide such title insurance coverage due to an Objection having been raised, then at the Closing, Seller will escrow with the Title
Company the amount of $100,000.00 from the Purchase Price being paid to Seller by Purchaser at Closing, Seller’s obligation with respect to storm water drainage from the Land shall be terminated, and the following will be applicable: 

 

	 	(a)	 in the event that Purchaser is successful in obtaining within one hundred twenty (120) days after the Closing Date an easement from all of the
property owners (or the condominium or homeowners’ association respecting such property) allowing storm water to drain from the Land to Hog Waller Creek (an “Easement”), the $100,000.00 shall be refunded by the Title Company to
Seller; 

  

	 	(b)	 in the event the Easement is not obtained within one hundred twenty (120) days after the Closing Date, the $100,000.00 will be paid by the
Title Company to Purchaser; and 

  

	 	(c)	 in the event that after the $100,000.00 is paid to Purchaser and prior to Purchaser’s having relocated the storm drainage from the Land
through or along Norcross Street to Hog Waller Creek, the Easement is obtained, Purchaser shall refund the $100,000.00 to Seller. 

4.      This Amendment relates only to the specific matters covered herein and shall not
constitute a consent to or waiver or modification of any other provision, term or condition of the Sales Contract. All terms, provisions, covenants, representations, warranties, agreements and conditions contained in the Sales Contract are ratified
and affirmed and shall remain in full force and effect, except as expressly amended by this Amendment. 

5.      This Amendment shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns. 

  
 2 

 6.      This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. 

7.      This Amendment shall be deemed to be a contract made under, and for all purposes shall
be construed in accordance with, the laws of the State of Georgia. 
 IN WITNESS WHEREOF, the parties hereto have
executed this Amendment effective as of the date first set forth above. 
  

	
	SELLER:
	
	ROSWELL COMMONS GROUP, L.P., a Georgia limited partnership
	
	 By: Roswell Commons Group GP, L.P.
 Its: General
Partner

  

			
	         By: Roswell Commons, LLC

        Its: General Partner

  

			
	               By: Coro Realty Advisors, LLC

              Its: Manager

  

					
	                     By:	 	 /S/ John W. Lundeen
	 	[SEAL]
	                     Name:	 	John W. Lundeen, III	 	
	                     Title:	 	President	 	

 (Executions continued on next page) 

  
 3 

 
					
	PURCHASER:	 	
	
	 LENNAR MULTIFAMILY INVESTORS, LLC,

a Delaware limited liability company

			
	By:	 	 /S/ Christopher Cassidy
	 	
	Name:	 	Chris Cassidy	 	
	Title:	 	Vice President	 	
			
		 	            [SEAL]	 	

  
 4

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