Document:

Prepared by R.R. Donnelley Financial -- Lease Agmt for the MFS Phoenix Building

 EXHIBIT 10.74 
  
 LEASE AGREEMENT FOR THE MFS PHOENIX BUILDING 
  

 EXECUTION COPY 
  
 LEASE SCHEDULE 
  

	1.    Date of Lease: 
 	May 31, 2000 
 

 

	2.    Landlord: 
 	NBS Phoenix III, L.L.C., a Delaware limited liability company 
 

 

	3.    Tenant: 
 	Massachusetts Financial Services Company, a Delaware corporation 
 

 

	4.    Property Address: 
 	2411 West Peoria Avenue, Phoenix, Arizona 
 

 

	5.    Premises: 
 	3-story building (“Building”) of approximately 148,605 rentable square feet as described in Appendix “B” attached hereto to be
constructed on approximately 9.3175 acres of land (the “Land”). The Land is described onAppendix “A” attached hereto and is located in Desert Canyon Corporate Campus, an office park located onapproximately 20.15 acres of land,
which will comprise three (3) office buildings, parking and landscaping (the “Park”), the common areas of which, namely landscaping, decorative masonry wall, lighting, signage, andirrigation (“Park Common Areas”), shall be
maintained pursuant to the Declaration as hereinafter described in Section 4.C.(i) hereof. Common areas serving the Building (“Common Areas”) include landscaping, monument sign, lighting, irrigation and nine hundred (900) parking spaces,
eight hundred seventy (870) of which shall be installed on or before the CommencementDate and thirty (30) of which shall be installed within thirty (30) days thereafter. Thirty percent (30%) of said parking spaces shall be covered as provided in
Appendix “D”. The Land, the Building and the Common Areas comprise “the Property”. 
 

 

	 	“Landlord’s Work” shall have the meaning set forth in the Workletter attached hereto and incorporated herein by reference. 

 

	 	“Tenant’s Work” shall have the meaning set forth in the Workletter attached hereto and incorporated herein by reference. 

	6.    Purpose: 
 	Mutual Fund operations, mutual fund transfer operations, and/or general offices, and such uses as are generally ancillary thereto, including mailroom, publication
and distribution of printed materials, computer facilities, and such cafeteria uses ancillary thereto. 
 

 

	7.    Lease Term: 
 	Ten (10) years and three (3) months. The Lease Term shall commence upon substantial completion, as more fully described in Section 3.C. hereof, but not prior to
April 1, 2001 (“Commencement Date”) 
 

 

	 	Options:       (A) 2 five (5) year options to extend the Lease Term; and 

 
                     (B) Right of first refusal to purchase the Property. 
  

	8.
	 
	Area of Premises in rentable square feet (“r.s.f.”): Approximately 148,605 (measured from glass line to glass  line, less any vertical
penetrations). Tenant shall have the right to measure the Premises within thirty (30) days of the completion of the steel erection of the Building in order to verify the rentable square feet of the Premises, and to the extent it differs from that
set forth herein, the Base Rent shall be amended accordingly. 
 

  
 9.    Jurisdiction in which the property is located:    City of Phoenix, County of Maricopa, State of Arizona 
  
 10.  Monthly Base Rent: 
  
 
	 Months
 
	    	 Annual Base
 Rent/r.s.f.

	    	 Base Rent/Month
 

	 
	 1-3
 	    	 0
 	    	 None
 
	 4-63
 	    	 $15.80
 	    	 $195,663.25
 
	 64-123
 	    	 $17.38
 	    	 $215,229.58
 

 
  
 11.  Addresses for Purpose of Notice:

  
 
	 Landlord:
 	  	 c/o The Alter Group, Ltd.
 7303 North Cicero Avenue
 Lincolnwood, IL 60646
 Attention: Mr. Ronald Siegel
 Fax No. (847) 676-4303
 

 
 

 2 

  
 With a copy to: 
  
 Lawrence M. Freedman, Esquire 
 Ash, Anos,
Freedman & Logan, L.L.C. 
 77 West Washington Street, Suite 1211 
 Chicago, IL 60602 
 Fax No.:    (312) 346-7847; and 

 
 Samuel F. Gould 
 Alter Asset Management, L.L.C. 
 1980 Springer Drive 
 Lombard, IL 60148 
 Fax No.:    (630) 620-3606 
  
 Tenant: 
  
 Massachusetts Financial Services Company 
 500 Boylston Street 
 Boston, Massachusetts 02116 
 Attention:    General Counsel 
  
 Prior to the Commencement Date any
notice to Tenant shall also be sent to the foregoing address: 
  
 Massachusetts Financial Services
Company 
 500 Boylston Street 
 Boston, Massachusetts 02116 
 Attention James F. Bailey, Senior Vice 
 President and Director of Corporate 
 Services

  
 as well as to: 
  
 Michael W. Bozarth, President 
 Bozarth C.M.

 2525 East Camelback Road, Suite 730 
 Phoenix, Arizona 85016 
  
 as well as any other Tenant representative designated in writing by
Tenant. 
  

	12.
	 
	Brokers:    The Alter Group, Ltd., Cushman & Wakefield of Arizona, Inc., McCall & Almy, Inc., and Insignia/ESG, Inc. 

  

	13.
	 
	Schedule of Appendices: (Which appendices are attached hereto and made a part hereof). 
 

 

  
 APPENDIX “G” 
  
 Subordination, Non-disturbance and Attornment Agreement 
  
 APPENDIX “H” 
  
 Janitorial Specifications 
  
 APPEDIX “I” 
  
 Schedule of Title Encumbrances 
 

  
 APPENDIX “A” 
  
 Legal Description of Land 
  
 APPENDIX “B” 
  
 Site Plan (including depiction of Common Areas)

 Floor Plans 
 Elevations 
 Permit Set Plans 
  
 APPENDIX
“C” 
  
 Workletter 
  
 Attachment A        Tenant Work—Plans and Specifications 
 Attachment B        Tenant Information Manual 
 Attachment C        General Conditions of the Tenant Work and Fee 
 Attachment D        Certificate of Substantial Completion and Certificate of Final Completion 
 Attachment E        Construction Completion Guaranty of General Contractor 
  
 APPENDIX “D” 
  
 Specifications 
  
 Multi-Story Office Building Outline Performance Specifications 
 I.        Project Overview (p. 1) 
 II.      General Requirements (p. 2) 
 III.
     Site Preparation and Improvements (p. 5) 
 IV.      Base Building Shell (p. 8)

 V.      Base Building Interiors (p. 14) 
 VI.      Exclusions (p. 19) 
 Addendum No. 1—Desert
Canyon 300—Building “B”—Drawings dated March 22, 2002 
 Addendum Service Sheet No. AD1-1.0—First Floor Plan

 Addendum Service Sheet No. AD1-1.1—Exterior CMU Wall Footing 
 Addendum Service Sheet No. AD1-2.0—Exit Corridor 
 Addendum Service Sheet No.
AD1-3.0—Toilet Core Floor Plan 
 Addendum Service Sheet No. AD1-4.0—Loading Dock Plan 
 Addendum Service Sheet No. AD1-4.1—Dock DTL and Dock Pit Section 
  
 APPENDIX “E” 
  
 MFS—Final Desert Canyon 300, Phoenix, AZ        Construction Schedule 
  
 APPENDIX “F” 
  
 Declaration of Easements and Protective Covenants for
Desert Canyon Corporate Campus, as amended, Survey Depicting other Restrictions of Record, and Plan Depicting Park Common Areas 
 

  
 TABLE OF CONTENTS 
  
 
	  	 	  	  	 Page
 

	 
	  	 	 Lease Schedule
 	  	 1
 
	 
	 1.
 	 	 Purpose
 	  	 9
 
	 
	 2.
 	 	 Term
 	  	 9
 
	 
	 3.
 	 	 Possession
 	  	 9
 
	 
	 4.
 	 	 Definitions As Used In This Lease
 	  	 13
 
	 
	 5.
 	 	 Base Rent
 	  	 19
 
	 
	 6.
 	 	 Taxes and Operating Cost Obligations
 	  	 20
 
	 
	 7.
 	 	 Rent Adjustment Payment
 	  	 22
 
	 
	 8.
 	 	 Holding Over
 	  	 25
 
	 
	 9.
 	 	 Building Services
 	  	 25
 
	 
	 10.
 	 	 Condition of the Premises
 	  	 27
 
	 
	 11.
 	 	 Uses Prohibited
 	  	 31
 
	 
	 12.
 	 	 Compliance With Law
 	  	 32
 
	 
	 13.
 	 	 Alterations and Repairs
 	  	 33
 
	 
	 14.
 	 	 Abandonment
 	  	 36
 
	 
	 15.
 	 	 Assignment and Subletting
 	  	 36
 
	 
	 16.
 	 	 Signs
 	  	 38
 
	 
	 17.
 	 	 Damage to Property—Injury to Persons
 	  	 38
 
	 
	 18.
 	 	 Damage or Destruction
 	  	 43
 
	 
	 19.
 	 	 Entry by Landlord
 	  	 45
 
	 
	 20.
 	 	 Default
 	  	 46
 

 
 

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	 21.
 	 	 Rules and Regulations
 	  	 48
 
	 
	 22.
 	 	 Non Real Estate Taxes
 	  	 48
 
	 
	 23.
 	 	 Eminent Domain
 	  	 49
 
	 
	 24.
 	 	 Subordination
 	  	 50
 
	 
	 25.
 	 	 Waiver
 	  	 51
 
	 
	 26.
 	 	 Force Majeure
 	  	 52
 
	 
	 27.
 	 	 Sale by Landlord
 	  	 52
 
	 
	 28.
 	 	 Rights of Landlord and Tenant To Perform
 	  	 53
 
	 
	 29.
 	 	 Attorneys’ Fees
 	  	 53
 
	 
	 30.
 	 	 Estoppel Certificate
 	  	 54
 
	 
	 31.
 	 	 Preparation
 	  	 54
 
	 
	 32.
 	 	 Notices
 	  	 54
 
	 
	 33.
 	 	 Rights Reserved
 	  	 55
 
	 
	 34.
 	 	 Real Estate Broker
 	  	 55
 
	 
	 35.
 	 	 Miscellaneous Provisions
 	  	 56
 
	 
	 36.
 	 	 Authority
 	  	 58
 
	 
	 37.
 	 	 Cellular, Radio, Microwave and Other Electronic Transmission
 	  	 58
 
	 
	 38.
 	 	 Renewal Option
 	  	 60
 
	 
	 39.
 	 	 Right of First Refusal
 	  	 61
 
	 
	 40.
 	 	 Landlord Restrictions
 	  	 62
 
	 
	 41.
 	 	 Landlord’s Lien
 	  	 63
 
	 
	 42.
 	 	 Successors and Assigns
 	  	 63
 

 
 

 7 

 EXECUTION COPY 
  
 L E A S E 
  
 THIS LEASE MADE and entered into as of the date set
forth on the Lease Schedule as Date of Lease, which Lease Schedule is appended to this Lease and is specifically incorporated by reference herein, by and between the Landlord and Tenant as set forth in the Lease Schedule. 
  
 W I T N E S S E T H : 
  
 Demise 
  
 A.    (1)  Subject to and with the benefit of the
provisions of this Lease, Landlord hereby leases to Tenant and Tenant leases from          Landlord, the Premises, also described herein as the Building. 
  
 (2)  Tenant shall have, as appurtenant to the Premises, the exclusive right to use the Common Areas shown on
Appendix “B”. 
  
 (3)  Tenant shall have, as appurtenant to the Premises,
the right to use in common with others entitled thereto, subject to reasonable rules of general applicability to all tenants in the Park and shown on Appendix “F”: (a) the Park Common Areas; (b) all rights to access all service
areas and drainage of surface water runoff, including, without limitation, storm drainage systems and detention areas; (c) all grades driveways, roadways, sidewalks and footways, lighting systems and traffic flow patterns; (d) all rights appurtenant
to the Premises and the Property; (e) all means of access and egress to and from the Building to the Park Common Areas and/or the Common Areas, including, without limitation, all sidewalks, roads, driveways and the like; and (f) all utility lines
and/or easements for electricity, water and sewage disposal. 
 

 8 

 B.  Such letting and hiring is upon and subject to the terms, covenants and conditions herein set forth and
Tenant and Landlord covenant as a material part of the consideration for this Lease to keep and perform each and all of said terms, covenants and conditions by them to be kept and performed and that this Lease is made upon the condition of such
performance. 
  
 1.  Purpose 
  
 The Premises are to be used for the Purpose set forth in the Lease Schedule and for no other purpose without the prior written consent of the Landlord, not to be
unreasonably withheld, delayed or conditioned. 
  
 2.  Term 
  
 The Lease Term shall be as set forth in the Lease Schedule except as otherwise expressly provided in this Lease. 
  
 3.  Possession 
  
 A.  If Landlord cannot deliver possession of the Premises and Common Areas to the Tenant on the Commencement Date of the Term, this Lease shall not be void or voidable, nor shall the Landlord be liable to Tenant
for any loss or damage resulting therefrom. Under such circumstances, all rent (including without limitation utilities, Taxes and Operating Costs) provided for herein shall not commence until the Premises and Common Areas have been delivered to
Tenant and no such failure to deliver on the commencement Date of the Term shall affect the validity of this Lease or the obligations of the Tenant hereunder, and the Term shall be extended accordingly, provided however if the Premises and Common
Areas have not been substantially completed on or before April 1, 2001, then in such event, Tenant shall be entitled to a credit equal to two (2) days rent for each day until substantial completion and delivery of the Premises and Common Areas.
Notwithstanding anything to the contrary contained herein, the parties hereby agree and acknowledge that Landlord shall not be obligated to deliver thirty (30) of the nine hundred (900) parking spaces on the Commencement Date, it being agreed and
understood that Landlord shall deliver said thirty (30) parking spaces within thirty (30) days after the Commencement Date. 
 

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 B.  Notwithstanding the provisions of Section 3.A hereof, in the event of any of the following: 

 
 (i)  Landlord fails to close its construction loan in the amount of $21,469,000 with Bank of America
within sixty (60) days of the date hereof; Landlord hereby agreeing to deliver evidence of the same to Tenant within sixty-five (65) days of the date hereof; or 
  
 (ii)  Landlord fails to obtain any necessary federal, state and local licenses, permits, and approvals, including without limitation the issuance
of a building permit allowing commencement of construction of the Building from the City of Phoenix on or before June 9, 2000 and the issuance of a building permit allowing construction of that portion of the parking areas serving the Building
located on the Additional City of Phoenix Land (as hereinafter defined) from the City of Phoenix on or before June 30, 2000. Landlord represents that as of the date of execution hereof, the only license, permit or approvals required to commence
construction of the Building and Common Areas are two (2) building permits from the City of Phoenix, Landlord represents, warrants and covenants that it shall obtain the building permit for the Building no later than June 9, 2000 and agrees to
deliver a copy of said building permit to Tenant no later than June 10, 2000. Landlord further agrees on or before June 30, 2000 to obtain the building permit required to perform work on the additional parcel of Land (“Additional City of
Phoenix Land”) acquired by Landlord from the City of Phoenix on June 30, 2000 (which Additional City of Phoenix Land is included within the Land described on Appendix “A” attached hereto) and to obtain an amendment to its site
plan on or before June 30, 2000 and to deliver a copy of the building permit for the Additional City of Phoenix Land and the site plan approval to Tenant on or before July 10, 2000; or 
  
 (iii)  Landlord fails to commence steel erection on or before June 30, 2000; or 
  
 (iv)  Landlord fails to substantially complete construction of the Building and Common Areas and deliver possession thereof on or before September
1, 2001; 
  
 then in the event of any of the foregoing events, Tenant may elect to terminate this Lease on written notice to Landlord in
which case the 
 

 10 

 parties hereto shall have no further obligations hereunder, provided however to the extent of any Tenant Delay (as defined in the Workletter),
the foregoing time periods shall be extended accordingly. Any Force Majeure Event as provided in Section 26 hereof shall not delay or extend any of the foregoing dates. Notwithstanding the immediately preceding sentences, any Force Majeure Event as
provided in Section 26 hereof shall extend the dates set forth in subsections (iii) and (iv) only for a period not to exceed thirty (30) days thereafter. 
  
 C.  The Premises and Common Areas shall be substantially complete only if and when the following have occurred: 
  
 (i)  (a) The Landlord’s Work together with the Common Areas and (b) the Tenant’s Work are substantially complete and so certified by the
Landlord’s architect in the form of AIA Certificate of Substantial Completion No. G704 and by Landlord’s general contractor, and verified by Tenant’s architect, with the exception of Punch List Work (as defined in the Workletter),
which Punch List work may include but is not limited to the monument signage and minor portions of the landscaping, which Punch List Work shall be fully completed by Landlord within thirty (30) days without material interference to Tenant, provided
however that to the extent that any item of Punch List Work cannot be completed within thirty (30) days despite Landlord’s diligent efforts, as a result of matters outside Landlord’s reasonable control, such as long lead times or back
ordered materials for example, said thirty (30) day period shall be reasonably extended; and 
  
 (ii)  the premises are broom clean and free of debris; and 
  
 (iii)  a temporary or permanent certificate of occupancy has been issued from the Jurisdiction in which the Property is located, provided that in the case of a temporary certificate, Tenant’s right to occupancy shall
not be revocable as a result in delay or failure to satisfy the conditions necessary to cause the issuance of a permanent certificate of occupancy; and 
  
 (iv)  all utilities required for use of the Premises have been brought by Landlord to the utility switching points; and 
  
 (v)  all Common Areas and Park Common Areas serving the Building, including without limitation the parking and
landscaping, have been substantially completed except for minor items of Punch List Work, which shall be fully completed by Landlord as provided in Section 3.(c).(i) hereof. 
 

 11 

  
 It is further understood that within 48 hours prior to initial occupancy, the
parties shall jointly inspect the Premises and Common Areas and prepare a list of Punch List work to be completed by Landlord as heretofore provided. Tenant agrees to provide a supplemental list of Punch List Work within one hundred twenty (120)
days after occupancy encompassing all items not then completed except for latent defects. Landlord further agrees to obtain a permanent certificate of occupancy as soon as reasonably possible and in no event prior to expiration of the temporary
certificate of occupancy. 
  
 D.  Landlord hereby warrants and guaranties at its sole cost and expense that
the Landlord’s Work and the Tenant’s Work shall be free from defects for a period of one (1) year after the Commencement Date or such later date that all of the foregoing work has been completed. In addition, Landlord agrees to provide
Tenant prior to the Commencement Date with copies of all contractors’, suppliers’ and manufacturers’ warranties and to enforce all contractors’, suppliers’ and manufacturers’ warranties for the benefit of Tenant for the
entire length of the warranty period. The enforcement of said warranties during the aforesaid one (1) year period shall be at Landlord’s sole cost and expense. In addition, Landlord agrees to repair at its sole cost and expense any latent
defects in any of the foregoing work promptly after receipt of notice from Tenant, provided such notice is received from Tenant within three (3) years of the Commencement Date or such later date that all the work has been completed. 

 
 E.  If the Commencement Date is delayed beyond April 1, 2001, if the measurement of the Premises results in a change
in the rentable square feet, or if the amount of the Base Rent is changed due to a change in the rentable square feet as otherwise specifically provided herein, the parties agree to execute a certificate memorializing the same. Prior to the
Commencement Date, the parties shall jointly execute a certificate setting forth the Commencement Date, the rentable square feet of the Premises and the Base Rent. Tenant shall have the right to measure the Premises within thirty (30) days of the
completion of the steel erection in order to verify the measurement of the Premises. 
  
 F.  In order to
guarantee Landlord’s obligations to construct the Landlord’s Work and Tenant’s Work and to perform all of its construction obligations described in Section 3 of this Lese and the Workletter attached hereto as Appendix
“C”, Landlord hereby acknowledges and agrees to furnish to Tenant concurrently with the execution of this Lease, a construction completion guaranty in the form attached hereto as Attachment “E” to the Workletter from
Alter Design Builders, L.L.C. for all work performed or to be performed by Landlord and Alter Design Builders, L.L.C., pursuant to the terms and provisions of Section 3 hereof, including, without limitation, the warranties set forth in Section 3
hereof and the Workletter. 
 

 12 

 G.  All Tenant’s Work including, but not limited to, areas of raised computer flooring and underfloor
cabling, electrical distribution and ductwork shall be part of the Premises (and shall remain therein at the end of the Term), except for Tenant’s business fixtures, equipment and personal property (which such personal property shall include,
without limitation, telephone and computer systems), all of which business fixtures, equipment and personal property shall remain the property of the Tenant and shall be removed at the expiration of the Term. Tenant’s Plans shall have the
meaning set forth in the Workletter attached hereto and incorporated herein by reference. 
  
 4.  Definitions As
Used In This Lease 
  
 A.  The term “Commencement Date” is the date of the beginning of the
Lease as set forth in Section 3 hereof. 
  
 B.  The term “Taxes” means any and all taxes of every
kind and nature whatsoever which Landlord shall pay or become obligated to pay during a calendar year during the Lease Term (regardless of whether such taxes were assessed or became a lien during, prior or subsequent to the calendar year of payment)
because of or in connection with the ownership, leasing and operation of the Property including without limitation, real estate taxes, personal property taxes, sewer rents, water rents, special assessments (amortized over the number of years
constituting the Lease Term regardless of when assessed, it being understood that Tenant shall only be responsible for amortized installments due during the Lease Term), reasonable and documented legal fees and court costs charged for the protest or
reduction of property taxes and/or assessments or an increase therein in connection with the Premises including the Building, any tax or excise on rent or any other tax (however described) on account of rental received for use and occupancy of any
or all of the Building and/or the Premises whether any such taxes are imposed by the United States, the state or other local governmental municipality, authority or agency or any political subdivision of any thereof in the Jurisdiction in which the
Property is located. Taxes shall not include any net income, capital stock, estate or inheritance taxes. Tenant may apply for or cause Landlord to apply for any protest, abatement of, or otherwise contest any Taxes or assessment. If there is
abatement or a refund of Taxes, for a period for which Taxes were paid by Tenant, the abatement or refund of such Taxes shall be paid directly to Tenant. Nothing contained in this Lease shall, however, require Tenant to pay any income taxes; excess
profit taxes; excise taxes; franchise taxes; any taxes or assessments with respect to other buildings leased or available for lease (including the parcels of land upon which such buildings are situated) other than the Building and the Property;
estate, succession, inheritance or transfer taxes. In clarification of the foregoing and by way of example, with respect to any special assessments, if there is a special 
 

 13 

 assessment imposed during the first month of the ninth year of the Lease Term, the cost of such special assessment shall be amortized over a
period of 123 months and Tenant shall be responsible for only that portion of the special assessment for the fourteen (14) months remaining in the Lease Term. The amortization of the special assessment shall be made whether or not the authority
which has imposed the special assessment allows the Landlord to amortize the payment of such special assessment. Landlord shall make all payments of special assessments directly to the assessing authority and Tenant shall pay its share of the
special assessment as additional rent directly to Landlord on the first day of each month during the Term. This provision shall survive termination or expiration of the Lease Term. 
  
 C.  (i)  The term “Operating Costs” means any and all reasonable expenses, costs and disbursements (other than Taxes as defined in Section
4(B) of every kind and nature whatsoever incurred by Landlord in connection with the ownership, management, maintenance, operation and repair of the Property (including but not limited to the cost of electricity, steam, water, gas, fuel, heating,
lighting and air conditioning, all to the extent not separately metered), Common Area expenses, and Park Common Area expenses pursuant to the Declaration (as hereinafter defined), including but not limited to landscaping and other maintenance of
properties which benefit the Property, usual and customary property management fees not to exceed three (3%) percent of net rents per year (which fee shall include the cost of any full or part-time property manager engaged to provide services to the
Property), insurance costs (including but not limited to fire and property, elevator, liability, and workers’ compensation insurance, as well as all commercially reasonable deductibles paid by Landlord for damages and injuries covered by
policies of insurance maintained for the Property) and routine repairs, maintenance and interior and/or exterior decorating, wages, salaries, and benefits (including but not limited to, so-called fringe benefits, such as social security taxes,
unemployment insurance taxes, costs for providing coverage for disability benefits, costs of any pensions, hospitalization, welfare or retirement plans, or any other similar or like expenses or any other cost or expense which Landlord pays or incurs
to provide benefits for employees engaged in the maintenance or repair of the Property) of employees working at the Property on a full or part-time basis, uniforms, supplies, sundries, sales or use taxes on supplies or services, snow removal,
parking lot repairs, legal and accounting costs and expenses, janitorial or cleaning expenses and/or supplies, roof repairs, exterminating, elevator maintenance, HVAC system maintenance, security services, security systems maintenance, overhead
doors maintenance, or other expenses which Landlord shall be or become obligated to pay in respect of a calendar year 
 

 14 

 (regardless of when such Operating Costs were incurred provided that such Operating Costs were not incurred more than one (1) year prior
thereto) or any other expense or charge whether or not hereinbefore mentioned which in accordance with generally accepted accounting principles respecting first class buildings in the Jurisdiction in which the Property is located would be considered
as an expense of owning, managing, operating, maintaining or repairing the Property. For purposes of this subparagraph “the development in which the Property is located” shall be deemed to refer to Desert Canyon Corporate Campus, and the
Declaration shall be the Declaration of Easements and Protective Covenants for Desert Canyon Corporate Campus encompassing same, recorded with Maricopa County Recorders Office as Document No. 99-1087148) and amended by First Amendment to Declaration
dated May     , 2000 to be recorded with Maricopa County Recorders Office. 
  
 (ii)  Operating Costs shall not include: 
  
 (a)  The cost of:
(1) alterations, improvements, equipment replacements, and other items which under generally accepted accounting principles are properly classified as capital expenditures; as well as (2) repairs to any one Building system in excess of TWENTY-FIVE
THOUSAND ($25,000.00) DOLLARS in a single year. 
  
 (b)  Expenses incurred for business
interruption or rental value insurance. 
  
 (c)  Leasing commissions and/or expenses and
advertising and promotional expenses. 
  
 (d)  Legal fees or other professional or
consulting fees in connection with the negotiation of this lease. 
  
 (e)  Repairs required
to cure violations of laws enacted prior to the date of the Lease. 
  
 (f)  The cost of
repairs or replacements incurred by reason of fire or other casualty or condemnation to the extent that either (1) Landlord is compensated therefor through proceeds of insurance or condemnation awards; (2) Landlord failed to obtain insurance against
such fire or casualty, if insurance was available at a commercially reasonable rate, against a risk of such nature at the time of same; or (3) Landlord is not fully compensated therefor due to the coinsurance provisions of its 
 

 15 

 insurance policies on account of Landlord’s failure obtain a sufficient amount of coverage against such risk.

  
 (g)  Damage and repairs necessitated by the negligence or willful misconduct of
Landlord, Landlord’s employees, agents. 
  
 (h)  Compensation paid to officers or
executives of the Landlord above the level of building or property manager. 
  
 (i)  That
portion of salaries of service personnel to the extent such salaries are applicable and relate to performance of services by such personnel other than in connection with the management, operation, repair, or maintenance of the Building.

  
 (j)  The cost of incremental expense to Landlord incurred by Landlord in curing its
defaults. 
  
 (k)  Legal fees, accounting fees, and other expenses incurred specifically in
connection with the defense of Landlord title or interest in the Building or any part thereof. 
  
 (l)  Interest and principal payments on mortgages and ground lease payments, if any. 
  
 (m)  Depreciation. 
  
 (n)  Property management fees paid for any
month in excess of three (3%) percent of all net rent. 
  
 (o)  Rental and other related
expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be of a capital nature, except (i) when such equipment is used in providing janitorial and maintenance services and is not permanently
affixed to the Building, and (ii) when such equipment is rented on a temporary basis for repairs or maintenance. 
  
 (p)  Any cost or expense to the extent to which Landlord is paid or reimbursed (other than as a payment for Operating Costs), including but not necessarily limited to, (1) work or service performed for any tenant (including
Tenant) at such tenant’s cost, (2) the cost of 
 

 16 

 any item for which Landlord is paid or reimbursed by insurance, warranties, service contracts, condemnation proceeds,
insurance reimbursements or otherwise, and (3) the cost of any HVAC, janitorial or other services provided to tenants on an extra-cost basis after regular business hours. 
  
 (q)  The cost of installing, operating and maintaining any special service, such as an observatory, broadcasting facilities, luncheon club,
athletic or recreation club. 
  
 (r)  The cost of correcting defects in the design,
construction or equipment of the Building or any latent defect in any of the foregoing discovered during the first three (3) years of the Term or of any other work which Landlord is obligated to perform pursuant to this Lease (unless such defect is
attributable to any act or omission of Tenant). 
  
 (s)  Salaries and bonuses of officers,
executives of Landlord and administrative employees above the grade of property manager or building supervisor, and if a property manager or building supervisor or any personnel below such grades are shared with other buildings or has other duties
not related to the Building, only the allocable portion of such person or persons salary shall be included in Operating Costs. 
  
 (t)  The cost of any work or services performed for any facility other than the Building. 
  
 (u)  The cost, including increased real estate taxes and other operating expenses, related to any additions (as opposed to renovations) to the
Building after the original construction. 
  
 (v)  Any cost included in Operating Costs
representing an amount paid to a person, firm, corporation or other entity related to Landlord which is in excess of the amount which would have been paid on an arms length basis in the absence of such relationship except for property management
fees as heretofore provided. 
  
 (w)  Any cost or expense which is applicable to or
incurred for any parking garage or any costs of personnel used to 
 

 17 

 park cars, collect money or provide special security, and garage management fees. 
  
 (x)  Landlord’s general overhead. 
  
 (y)  The cost of initial cleaning of, and rubbish removal from, the Building to be performed prior to final completion of the base Building or to
the completion of any tenant’s space including Tenant’s. 
  
 (z)  Lease payments
for rental equipment, which would constitute a major capital expenditure if the equipment were purchased; cost of temporary rentals for maintenance, repairs or for use during repairs are an operating expense. 
  
 (aa)  The cost of advertising or promotion for the Building. 
  
 (bb)  Accounting and bookkeeping services except to the extent included in the management fee permitted hereby.

  
 (cc)  Any compensation paid to personnel in retail concessions operated by Landlord.

  
 (dd)  Charitable contributions. 
  

(ee)  Any offsite traffic mitigation requirements including traffic lights. 
  
 (ff)  Any charge for Landlord’s income taxes or a corporate excise tax, excess profit taxes or franchise taxes. 
  
 (gg)  Cost of sculpture, paintings and art. 
  
 (hh)  Replacement/contingency reserves. 
  
 (ii)  Legal/professional fees related to leasing, financing, and lease disputes. 
  
 (jj)  Repaving and/or resurfacing of all parking areas excepting, however, the patching of and the application of seal protection to parking areas. 
 

 18 

 (iii)  Provided, however: 
  
 (a)  Landlord shall not collect in excess of one hundred (100%) percent of Operating Costs and shall not recover any items of cost more than once;
and 
  
 (b)  The costs of any capital improvements to the Building made after the
Commencement Date of this Lease which are required under any governmental laws, regulations, or ordinances which were not applicable to the Building as of the Commencement Date, shall be amortized on a level pay debt service basis over fifteen (15)
years, with interest at ten (10%) percent per annum shall be included in Operating Costs. 
  
 5.  Base Rent

  
 A.  Except as otherwise provided herein, Tenant shall pay as Base Rent to Landlord the Base Rent as
set forth in the Lease Schedule in equal monthly installments as set forth as the Monthly Base Rent in the Lease Schedule in advance on the first day of the first full calendar month and on the first day of each calendar month thereafter during the
Term, and at the same rate for fractions of a month if the Term shall begin on any day except the first day or shall end on any day except the last day of a calendar month. So long as there is no uncured Event of Default hereunder, all Rent for the
first three (3) months of the Term shall abate. Base Rent shall include all rental obligations for the Common Areas specifically including without limitation the parking spaces. 
  
 B.  Any rent (whether Base Rent or additional rent) or other amount due from Tenant to Landlord under this Lease not paid within ten (10) days after it becomes
due (and Tenant has received notice of the same) shall incur a late fee equal to the greater of: (a) Twenty-Five ($25.00) Dollars; or (b) interest from the date ten (10) days after due until the date paid at the annual rate of Two (2%) Percent above
the prime rate as set forth as the Base Rate on Corporate Loans published by the Wall Street Journal from time to time, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. The covenants herein to pay
rent (both Base Rent and additional rent) shall be independent of any other covenant set forth in this Lease. 
  
 C.  Except as otherwise provided herein, Base Rent and all of the rent provided herein shall be paid without deduction or off-set in lawful money of the United States of America to Alter Asset Management, L. L. C., a
Delaware limited liability company, 1980 Springer Drive, Lombard, IL 60148 (“the Rent Agent”) or 
 

 19 

 as designated from time to time by written notice from Landlord. The Rent Agent has full and complete authority to act on behalf of Landlord in
connection with all dealings with Tenant, provided however, that the Rent Agent shall not have the power to amend or modify the terms of the within Lease. 
  
 6.  Taxes and Operating Cost Obligations 
  
 A.  Tenant shall have the right from time to time during the Term of this Lease to competitively bid and award the management contract for the Building, to self-manage the Building or to have Landlord manage the Building
(in which case all Landlord management fees shall be capped as set forth herein). As of the Commencement Date, Tenant hereby undertakes the responsibility to generally operate, manage, maintain and repair the Property in the normal course of
business, except as otherwise provided herein. In conjunction therewith, Tenant shall be responsible for, and shall pay the applicable material or service provider directly for all Taxes and Operating Costs (except as otherwise described herein),
payable during the Term of this Lease. Landlord shall pay and be responsible for all costs of maintaining, repairing, operating and owning the Property other than (i) Operating Costs; and (ii) Taxes. 
  
 In clarification of the foregoing, and regardless of whether Tenant is managing the Building or Landlord is managing the Building,
Landlord shall always be exclusively responsible at its sole cost and expense (without any ability to pass along any costs incurred to Tenant as Operating Expenses) for the following: 
  
 1.  All capital improvements; all capital equipment; the structure, foundation and roof of the Building; all individual repairs to the Building
and/or any systems serving the Building in excess of $25,000 and all replacements of any system serving the Building including without limitation mechanical systems, electrical systems and elevators of the Building; the repaving and resurfacing of
all parking areas; and all expenses associated with the acquisition of the additional City of Phoenix land. To the extent that Tenant self-manages or causes a third party (exclusive of Landlord) to manage the Building, and notwithstanding any other
provision of the Lease to the contrary, the only Operating Expenses which Landlord shall pass through to Tenant shall be for costs incurred for the insurance as set forth in Sections 17.E and 
 

 20 

 17.F hereof and Tenant’s share of the costs under the Declaration attributable to the Building. 

 
 2.  Enforcement by Landlord on behalf of and for the benefit of Tenant the Declaration. 

 
 3.  The completion of all Punch List Work, the repair of latent defects and the enforcement of all
construction warranties and guaranties under Section 3 hereof. 
  
 The foregoing services set forth
in Section 6(a)(1), (2) and (3) are referred to collectively hereinafter as the “Services”. 
  
 Landlord shall perform the foregoing Landlord Services in a good and workmanlike manner and in a timely manner to preserve the first-class condition of the Building and the Property. 
  
 B.  Landlord shall furnish Tenant within ten (10) days of receipt thereof copies of all tax bills and notices of assessments
received Landlord with respect to the Property. Tenant shall pay the Taxes directly to the taxing authority on or before the due date thereof. Tenant shall provide Landlord with evidence of payment of all Taxes within ten (10) days after payment
thereof. To the extent that Landlord’s mortgagee maintains any tax escrow as provided in Section 7. A. hereof, Tenant shall be entitled to use the funds in such escrow toward such payment, it being agreed that Landlord shall direct any
mortgagee which holds any such tax escrow to release the funds to Tenant. 
  
 C.  Tenant shall maintain
complete and accurate books and records detailing all Taxes and Operating Costs paid by it as well as maintenance and repair logs for not less than the preceding three (3) calendar years. Such books and records shall be kept in accordance with
generally accepted accounting principles consistently applied. Tenant shall make such books and records available at the Premises at Landlord’s sole cost and expense Landlord and its representatives shall have the right to examine, audit and
copy, during normal business hours, Tenant’s books and records pertaining to the Taxes and Operating Costs for the preceding twelve (12) month period to enable it to verify the accuracy thereof. Any and all information obtained through the
Landlord’s inspection respect to financial matters (including, without limitation, costs, expenses, income) and any and all other matters pertaining to the Tenant and/or the Property as well as any compromise, settlement, 
 

 21 

 or adjustment reached between Landlord and Tenant relative to the results of any such inspection shall be held in strict confidence by the
Landlord and its officers, agents, and employees; and Landlord shall cause its accountant and any of its officers, agents, and employees to be similarly bound. If Landlord fails to exercise such inspection rights within the period of twelve (12)
months after the preceding calendar year, Landlord shall have waived its inspection rights for such preceding year. 
  
 D.  Tenant acknowledges that the Property is to be operated and/or managed in a professional and competent manner. If Landlord reasonably determines that the Property is not being professionally and competently operated
and/or managed, Landlord shall notify Tenant with specificity of the deficiency in such management, and Landlord, Tenant and the manager, if any, shall work to rectify the deficiency within sixty (60) days or such longer period as may be necessary
to cure the deficiency so long as Tenant and/or its manager is diligently pursuing the same. If the deficiency has not been rectified to Landlord’s reasonable satisfaction within such sixty (60) day period or such longer period as may be
necessary to cure the deficiency so long as Tenant and/or its manager is diligently pursuing the same, Landlord may require Tenant to engage Landlord or a third party selected by Landlord and reasonably acceptable to Tenant to manage the Property.

  
 E.  The parties will cooperate so that all warranties, guaranties and other protections available from
Landlord’s contractors; subcontractors and material suppliers shall remain in force. Prior to the Commencement Date, or as soon thereafter as reasonably available, but not later than thirty (30) days after the Commencement Date, Landlord shall
provide Tenant with copies of all warranties, guaranties, and other protection available from Landlord’s contractors, subcontractors and suppliers in connection with the Landlord’s Work and Tenant’s Work. Tenant agrees to take no
action which would obviate the enforcement of any such warranty (so long as the same has been provided to Tenant), including, without-limitation, any warranty pertaining to the Building roof, without Landlord’s consent. 
  
 7.  Rent Adjustment Payment 
  
 A.  At lease execution, Landlord shall deliver to Tenant a written statement setting forth Landlord’s good faith estimate of Taxes and Operating 
 

 22 

 Costs (a “Taxes and Operating Cost Statement”) for the calendar year in which the Term commences. Thereafter, not later than November
1 of each subsequent calendar year, and from time to time during each subsequent calendar year, Landlord shall deliver an estimated Taxes and Operating Cost Statement pertaining to each such forthcoming calendar year. Commencing on the first full
calendar month of the Term and on the first day of each calendar month thereafter during the Term, Tenant shall pay one-twelfth (1/12th) of Taxes (only to the extent a reserve for Taxes is required by Landlord’s mortgagee) and one twelfth
(1/12th) of Operating Costs as estimated by Landlord. Not less than on or before the first day of May of each calendar year after the initial year of the Term, Landlord shall furnish to Tenant a written statement certified by an officer of Landlord
showing in reasonable detail actual Operating Costs and Taxes for the preceding year for which such statement is furnished and showing the amount, if any, of rental adjustment due for such preceding year (the “Annual Statement”).

  
 B.  On the monthly rental payment date (the “adjustment date”) next following Tenant’s
receipt of each such Annual Statement (but in all cases not less than thirty (30) days after receipt), Tenant shall pay to Landlord as additional rent an amount equal to the difference between the amount shown on each such Annual Statement less the
amount, if any, of the total additional rent with respect to Taxes and Operating Costs paid by Tenant during the preceding calendar year. 
  
 C.  In the event that any such settlement required above indicates that the total additional rent paid by Tenant during the preceding calendar year exceeds the amount shown on such Annual Statement, for such
calendar year, Landlord shall apply such excess to any amounts of additional rent next falling due under this Lease as long as there is no monetary Event of Default. In the event of any monetary Event of Default, Landlord may apply such excess
against all Rent due and owing under the terms of this Lease. After any such monetary Event of Default is cured, Landlord shall immediately return the remaining excess to Tenant. If the Term of this Lease has expired, Landlord shall return such
excess to Tenant within thirty (30) days after delivery of the annual statement. This provision shall survive termination or expiration of the Lease. 
  
 D.  The Annual Statement shall be prepared in accordance with generally accepted accounting principles. Tenant using either its own employee or its accountant shall have the right to examine,
copy and audit at reasonable times and in a reasonable manner, at the Landlord’s office in Phoenix, such of the Landlord’s books of account and records as pertain to or contain information concerning the Operating Costs and Taxes in order
to verify the amounts thereof. Any and all information obtained through the Tenant’s inspection with respect to financial matters (including, without limitation, costs, expenses, income) and any and all other matters pertaining to the Landlord
and/or the Property as well as any compromise, settlement, or adjustment reached between Landlord and Tenant relative to the results of any such inspection shall be held in strict 
 

 23 

 confidence by the Tenant and its officers, agents, and employees; and Tenant shall cause its accountant and any of its officers, agents, and
employees to be similarly bound. If Tenant shall dispute any item or items included in the Operating Costs or Taxes and such dispute is not resolved by the parties within ninety (90) days after Tenant renders to Landlord its audit results, then
either party may at its sole expense, within thirty (30) days thereafter, request that a firm of independent certified public accountants mutually selected by Landlord and Tenant (“Independent Review”) render to the parties an opinion as
to whether or not the disputed item or items should have been included in the Operating Costs and/or Taxes for such year; and the opinion of such firm on such matter shall be conclusive and binding upon both parties, provided however, it shall be a
further condition of Tenant’s right to conduct an Independent Review that the firm conducting the Independent Review shall not be retained upon the basis of all or a portion of its fees being contingent based upon the results of the Independent
Review. Landlord and Tenant agree that the firm’s opinion shall be confidential and shall not be disclosed to any other party whatsoever. In the event such Independent Review discloses that the amount due from Tenant was overstated in excess of
three (3%) percent on an annualized basis, Landlord shall bear the reasonable cost of such Independent Review. In all other cases, Tenant shall bear the cost of such Independent Review. Tenant employee(s) or accountants may examine the records of
Landlord supporting the estimated Taxes and Operating Cost Statement and the Annual Statement at Landlord’s or the Rent Agent’s office during normal business hours. Unless Tenant takes written exception to any item(s) on the Annual
Statement within three (3) years (if Landlord is managing the Property) after the furnishing of the Annual Statement, or unless Tenant takes written exception to any item(s) on the Annual Statement within one (1) year (if Landlord is not managing
the Property) after the furnishing of the Annual Statement, Tenant shall have waived its audit rights for such preceding time periods. If any such audit and/or Independent Review finds that Landlord has overstated any amounts, Landlord shall within
thirty (30) days after such audit and/or Independent Review remit such overstated amount to Tenant and if any such audit and/or Independent Review finds that there is an underpayment by Tenant, Tenant shall tender payment for any disputed items
within thirty (30) days after such audit and/or Independent Review. Notwithstanding anything to the contrary contained herein, Tenant may disclose the results of any such audit to its counsel and may use such audit results in the event of any
disputes with Landlord and in the event of any litigation. 
  
 To the extent Landlord is not managing the Property,
the Annual Statement shall be limited to those expenses permitted by this Lease to be charged to Tenant during those periods Landlord is not managing the Property. 
  
 E.  In the event of the termination of this Lease by expiration of the stated term or for any other cause or reason whatsoever prior to the determination of
rental adjustment as hereinabove set forth, Tenant’s agreement to pay additional rental accrued up to the time of termination and Landlord’s 
 

 24 

 agreement to pay or refund any excess amounts to Tenant shall survive the expiration or termination of the Lease. 
  
 F.  From time to time and as may be requested by Tenant, Landlord agrees to use best efforts to audit the costs assessed under
the Declaration. Should Landlord fail to conduct any such audit as requested by Tenant, Tenant shall have no further obligation to pay any Operating Expenses with respect to the Declaration until any such audit is completed. Landlord hereby
certifies and shall certify again on the Commencement Date that all expenses due and owing by Landlord under the Declaration with respect to the Building and the Property have been paid. 
  
 8.  Holding Over 
  
 Should
Tenant hold over after the termination of this Lease, by lapse of time or otherwise, Tenant shall become a tenant from month to month only upon each and all of the terms herein provided as may be applicable to such month to month tenancy and any
such holding over shall not constitute an extension of this Lease; provided, however, during such holding over, Tenant shall pay as Landlord’s sole remedy Base Rent at One Hundred Twenty-Five (125%) Percent of the rate payable for the month
immediately preceding said holding over for the first ninety (90) days of such holdover, which shall be increased to one hundred fifty (150%) percent thereafter. The provisions of this paragraph do not exclude the Landlord’s rights of re-entry
or any other right hereunder. 
  
 9.  Building Services 
  
 A.  On the Commencement Date, Landlord shall deliver the Building with HVAC systems and utilities in conformance with the
specifications attached hereto as Appendix “D”.  
  
 B.  During Tenant’s business
hours, in the event Landlord manages the Property as provided in Section 6. D hereof, Landlord shall furnish and maintain the following: 
  
 1.  HVAC systems to provide a temperature condition as provided in the specifications attached to Appendix “D”; 
 

 25 

  
 2.  Passenger elevator service. Operatorless automatic
passenger and freight elevator service shall be deemed “elevator service” within the meaning of this subsection; 
  
 3.  Janitor and cleaning services in and about the Premises in accordance with Appendix “H”, Saturdays, Sundays and Holidays (Thanksgiving, Christmas, New Years, Memorial Day, Labor Day, and
Independence Day) excepted; and 
  
 4.  Window washing of all windows (inside and out) in
the Premises, at such times as shall be reasonably required, provided however, that the inside and outside windows shall be washed no less than four (4) times per year, weather permitting. 
  
 5.  Maintenance of all Common Areas; maintenance and repair responsibilities for the roof, exterior walls, exterior windows and waterproofing,
floor slabs, and all other structural components of the Building; and maintenance of all parking areas, walks, landscaping and all other Common Areas, all as may be necessary to keep them in a first-class, good, serviceable and neat condition; and
compliance with all laws affecting the Premises, and the Common Areas, the cost of which, only to the extent applicable, shall be included in Operating Costs. 
  
 6.  Landlord agrees to provide all utilities to the Premises as provided in the specifications attached to Appendix “D”.

  
 Notwithstanding anything in this Lease to the contrary, if by reason of Landlord’s failure to provide the
services herein covenanted to be provided by Landlord, or by reason of any other failure by Landlord to perform its obligation hereunder, with respect to any matter under Landlord’s reasonable control, reason of any Force Majeure event
described in Section 26 hereof, any part of the Premises is rendered untenantable, then Tenant shall be entitled, if such failure continues for three (3) or more consecutive days, to an equitable abatement against the rent due hereunder to the
extent of such untenantability from the date of interruption of services through restoration of services. To the extent that such condition continues for thirty (30) days or more, Tenant shall, after thirty (30) days prior written notice to Landlord
and Landlord’s mortgagee of Tenant has notice (which time period shall be reduced in the event of an emergency) have the right to exercise self-help as flier described in Section 28 hereof. In connection with exercising such self-help right,
Tenant may enter in and upon all portions of the Premises and Common Areas to make repairs, improvements, and alterations (collectively, “Repairs”) as Tenant reasonably deems necessary to correct such failure, all at the reasonable cost
and expense of Landlord. Tenant shall be entitled to a credit against the rent due hereunder for all amounts incurred by it in connection with exercising such self-help rights, together with interest thereon at the rate set forth in Section 5-B
hereof from the 
 

 26 

 date incurred until the date paid by Landlord or credited against rent. If such untenantability continues for one hundred and twenty (120)
consecutive days, Tenant may elect to terminate this Lease. 
  
 C.  Electricity shall not be furnished by
Landlord, but except as otherwise hereinafter provided, shall be furnished by the electric utility company serving the area (“Electric Service Provider”). Landlord shall deliver the Premises so that the Tenant shall receive such service as
well as all other utility services, directly from the applicable public utility company. The electricity used during the performance of janitorial service, the making of alterations or repairs in the Premises (other than Tenant’s Work) and for
the operation of the Premises’ air conditioning system at times other than as provided herein; or the operation of any special air conditioning systems which may be required for data processing equipment or for other special equipment or
machinery installed by Tenant, shall be paid for by Tenant. Tenant shall make no material alterations or additions to the electric equipment without the prior written consent of the Landlord in each instance, which consent shall not be unreasonably
withheld, delayed or conditioned. Tenant covenants and agrees that at all times its use of electric current shall never exceed the capacity of the feeders to the Building or the risers or wiring installed thereon. 
  
 D.  Landlord shall deliver the Building on the Commencement Date with all utilities separately metered and Tenant shall pay
directly to the proper authorities charged with the collection thereof all charges for water, sewer, gas, electricity, telephone and other utilities used or consumed on the Premises. 
  
 E.  To the extent permitted by law, Tenant shall have the right at any time and from time to time during the Term to contract for or purchase utility services
from any company or third party, including without limitation, electricity, steam, chilled water and natural gas. 
  
 F.  Tenant shall be allowed twenty-four (24) hour, seven (7) day a week access to the Building and shall be able to request all services of Landlord outside of normal business hours, provided Tenant pays all Landlord’s
actual documented overtime costs. 
  
 10.  Condition of the Premises 
  
 A.  Subject to Landlord’s obligation to complete the Punch List Work and to repair latent defects and subject to
Landlord’s warranty of construction, all as set forth in Section 3 hereof, by taking possession of the Premises, Tenant shall be deemed to have agreed that the Premises were as of the date of taking possession, in good order, repair and
condition. No promises of the Landlord to 
 

 27 

 alter, remodel, decorate, clean or improve the Premises or the Building and no representation or warranty expressed or implied, respecting the
condition of the Premises or the Building has been made by the Landlord to Tenant, unless the same is contained herein or made a part hereof. 
  
 B.  Except as otherwise provided herein, Tenant shall, at its own expense, keep the Premises in good repair and tenantable condition, and shall promptly and adequately repair all damages to
the Premises (subject to the approval of Landlord and within a reasonable period of time as specified by Landlord), loss by ordinary wear and tear, fire and other casualty, condemnation and damage by Landlord excepted. If Tenant does not do so
promptly and adequately repair any such damage, Landlord may, but need not, make such repairs and Tenant shall pay Landlord for such repairs thirty (30) days after request by Landlord and receipt of documented expenses subject to and in accordance
with the provisions of Section 28 hereof. 
  
 C.  The parties acknowledge that the Americans With
Disabilities Act of 1990 (42 U.S.C. 12 10 1 et seq.) and regulations and guidelines promulgated thereunder, as all of the same may be amended and supplemented from time to time (collectively referred to herein as the “ADA”) establish
requirements under Title III of the ADA (“ Title III”) pertaining to business operations, accessibility and barrier removal, and that such requirements may be unclear and may or may not apply to the Premises and the Building depending on,
among other things: (1) whether Tenant’s business operations are deemed a “place of public accommodation” or a “commercial facility,” (2) whether compliance with such requirements is “readily achievable” or
“technically infeasible,” and (3) whether a given alteration affects a “primary function area” or triggers so-called “path of travel” requirements. Landlord represents that the Building, as of the Commencement Date,
shall comply with the ADA. Tenant shall be responsible for all Title III compliance and costs in connection with the Premises (including structural work, if any, and including leasehold improvements or other work to be performed in the Premises
under or in connection with this Lease) if used for other than the permitted purposes or resulting from Alterations (as hereinafter defined) to the Premises made by Tenant after the Commencement Date. 
  
 D.  (1)  Landlord represents and warrants to Tenant that: (a) Landlord has not, nor is aware of anyone who has, at any
time used or permitted the use of any portion of the Property to be used in violation of or in a manner which would create any liability under any federal, state or local environmental statutes, regulations, ordinances or orders (collectively
“Environmental Laws”) relating to environmental conditions on, under or about the Property including violations of or liabilities arising under Environmental Laws relating to the presence of Hazardous Materials (defined below) at or under
the Property; and (b) (i) to the best of Landlord’s knowledge and 
 

 28 

 belief after due diligence and due inquiry, there does not exist (and will not exist as of the date of substantial completion of the Premises
and Common Areas) any leak, spill, release, discharge, emissions or disposal of Hazardous Materials on or from the Property (including the Building to be located thereon) and (ii) and the Property and the Premises do not (and will not as of the date
of substantial completion of the Premises and Common Areas) contain, or have present, any Hazardous Materials. In the event that any such leak, spill, release, discharge, emission or disposal of Hazardous Materials shall occur at the Property,
Landlord shall take any and all actions necessary to bring the Property, including the Building, into compliance with Environmental Laws (including the elimination of prospective liabilities to Tenant arising under Environmental Laws which
liabilities are caused by Landlord) and other governmental requirements relating thereto. Landlord agrees to notify Tenant immediately upon discovery of any Hazardous Materials on the Property or in the Park, and subject to and in accordance with
Section 17.K hereof, to indemnify, defend and hold harmless Tenant and its employees and agents from and against any claims, judgments, damages, administrative or judicial penalties, fines, costs, liabilities or loss (including without limitation
reasonable attorneys’ fees) which arise during or after the Term from or in connection with the presence or suspected presence of Hazardous Materials at the Building or the Property. In no event shall Landlord be obligated to indemnify Tenant
for any Hazardous Materials which are generated or released at the Property, as a result of the negligent or willful acts or gross misconduct of Tenant, its employees, agents, contractors or licensees. The covenants and indemnifications set forth in
this Section 10. D.(l) and (2) shall survive the expiration or earlier termination of this Lease. 
  
 (2)  Subject to and in accordance with Section 17.K hereof, Landlord shall defend, indemnify and hold Tenant harmless for and against any and all losses, costs (including reasonable attorney’s fees) liabilities and
claims arising from Landlord’s violation of any Environmental Laws (or liabilities to Tenant arising under Environmental Laws which liabilities are caused by Landlord) which may affect the Property and the Premises and shall assume full
responsibility and cost to remedy such violations or liabilities caused by Landlord, provided that the violations or liabilities are not caused solely by Tenant. 
 

 29 

  
 (3)  Neither Landlord nor Tenant shall at any time use, generate, store
or dispose of on, under or about the Premises or transport to or from the same any Hazardous Materials or permit or allow any third party to do so, absent compliance with Environmental Laws except for customary cleaning supplies and storage of
diesel fuel. For the purposes of this Lease, the term “Hazardous Materials” shall include without limitation any oil, petroleum product, asbestos, any flammable, explosive or radioactive material, medical wastes or any oil, any hazardous
or toxic waste, substance or material, including without limitation substances defined as “hazardous substances,” “hazardous waste,” “solid waste” or “toxic substances” under any Environmental Laws relating to
any of the foregoing, air pollution (including noise and odors) soil, surface water or groundwater contamination, liquid and solid waste, pesticides, community and employee health, environmental land use management, storm water, sediment control,
nuisances, radiation, wetlands, endangered species, environmental permitting) which laws may include, but not be limited to; the Toxic Substance Control Act; the Clean Water Act; the National Environmental Policy Act, as amended; the Solid Waste
Disposal Act, as amended; the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of 1986; the Hazardous Material Transportation Act, as amended; the Resource
Conservation and Recovery Act, as amended, the Clean Air Act, as amended; the Emergency Planning and Community Right-To-Know Act, as amended; the Occupational Safety and Health Act, as amended; comparable Arizona state and local environmental laws
and/or ordinances; and all rules and regulations promulgated pursuant to such laws and ordinances. 
  
 (4)  In the event of a release or threatened release of Hazardous Materials to the environment resulting from Tenant’s activities at the Property or in the event any claim, demand, action or notice is made against the
Tenant regarding Tenant’s failure to comply with Environmental Laws, Tenant shall immediately notify the Landlord in writing and shall give to Landlord copies of any written claims, demands or actions, or notices so made against or known to
Tenant. 
  
 (5)  Upon termination of the Lease or upon Tenant’s abandonment of the leasehold, the
Tenant shall, at its sole expense, remove any equipment which may cause contamination at or from the 
 

 30 

 Property, and shall clean up any existing contamination caused by Tenant in compliance with all applicable Environmental Laws governing
Hazardous Materials or in accordance with orders of any governmental regulatory authority. 
  
 E.  Landlord
hereby covenants and agrees to maintain the Building and the Property in a first-class manner, to make all repairs, alterations, additions or replacements to the Property required by any law, ordinance or order or regulation of any public authority,
including repairs, alterations, additions or replacements to the foundations and structural elements of the Building; to keep the Building equipped with all safety appliances so required; and to comply with the orders and regulations of all
governmental authorities with respect to zoning, building, fire, health codes, regulations, ordinances or laws applicable to the Property and the Premises, including the ADA requirements set forth above, and any Environmental Laws relating to
Hazardous Materials, provided however, only to the extent applicable and provided herein, the cost of same may be included in Operating Costs. 
  
 F.  Landlord agrees to take all reasonable action available to Landlord to cause the Association, as defined in the Declaration, to comply with and enforce the terms and provisions of the
Declaration, including but not limited to maintenance of insurance and the maintenance of the Park Common Areas, for the, benefit of the Property, as may be reasonably requested by Tenant. Notwithstanding the foregoing, if Landlord shall fail,
having used good faith efforts, to cause the Association to cure such default (or if Such dispute shall not be resolved) within a reasonable period of time, then following thirty (30) days notice from Tenant to Landlord, Tenant shall have the right,
at its sole cost and in the name of Landlord, to file any such protest and/or to make demand or institute any appropriate action or proceeding against Association for the enforcement of its obligations. Landlord agrees that it shall sign such
demands, pleadings and/or other papers, and shall otherwise cooperate with Tenant, as may be reasonably required or necessary to enable Tenant to enforce the obligations of Landlord against the Association. 
  
 11.  Uses Prohibited 
  
 Tenant shall not use, or permit the Premises or any part thereof to be used, for any purpose or purposes other than as specified in the Lease Schedule. No use shall be made or permitted to be made of
the Premises, nor acts done, which will cause a cancellation of any insurance policy covering the Premises, or any part thereof, nor shall Tenant sell, or permit to be kept, used or sold, in or about the Premises, any article which may be prohibited
by Landlord’s insurance 
 

 31 

 policies (to extent Tenant is notified of such policies). Tenant shall not commit or suffer to be committed, any waste upon the Premises, or any
public or private nuisance, nor, without limiting the generality of the foregoing, shall Tenant allow the Premises to be used for any improper, immoral, unlawful or objectionable purpose, which specifically exclude the Permitted Uses. Tenant agrees
at all times to cause its business within the Premises to be operated in compliance with all federal, state, local or municipal laws, statutes, ordinances, and rules and regulations, including but not limited to those relating to environmental
protection, health, and safety. Tenant further agrees to promptly cure any such violation at its own expense, and shall, subject to and in accordance with Section 17.K hereof, defend and indemnify Landlord, mortgagees, and officers, agents, and
employees thereof respectively, for any and all liability, loss, costs (including reasonable attorneys’ fees and expenses) damages, responsibilities or obligations incurred as a result of any violation of any of the foregoing. Tenant shall
within ten (10) business days after request of Landlord certify in writing that it is in compliance with Environmental Laws applicable to the operation of its business within the Premises or the preceding year. At the request of the Landlord, Tenant
shall submit to the Landlord, or shall make available for inspection and copying upon reasonable notice and at reasonable times, any or all of the documents and materials prepared by or for Tenant pursuant to Environmental Laws or submitted to any
governmental regulatory agency in conjunction therewith. Landlord shall have reasonable access to the Premises to inspect the same to confirm that the Tenant is using the Premises in accordance with Environmental Laws upon reasonable advance notice
to Tenant, accompanied by Tenant and without interference with Tenant’s business operations. The provisions within this paragraph shall survive termination of this Lease and shall be binding upon and shall inure to the benefit of the parties
hereto, their respective successors and assigns, and mortgagees thereof. 
  
 12.  Compliance With Law

  
 A.  Tenant shall not use the Premises or permit anything to be done in or about the Premises which
in any way conflict with any law, statute, ordinance or governmental rule or regulation now in force or which may hereafter be enacted or promulgated. Except as otherwise provided herein, Tenant shall, at its sole cost and expense, promptly comply
with all laws, statutes, ordinances and governmental rules, regulations or requirements now in force or which may hereafter be in force and with the requirements of any board of fire underwriters or other similar body now or hereafter constituted
relating to or affecting Tenant’s business operations within the Premises, excluding structural changes not related to or affected by Tenant’s improvements or acts and further excluding those matters for which Landlord is responsible
pursuant to Sections 6.A and 10.E hereof. 
 

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 B.  Tenant may, at its expense (and if necessary, in the name of but
without expense to Landlord) contest, by appropriate proceedings prosecuted diligently and in good faith, the validity, or applicability to the Prelaw or requirement of public authority, and Landlord shall cooperate with Tenant in such proceedings,
provided that Landlord shall not be subject to criminal penalty or to prosecution for a crime, nor shall the Premises or any part be subject to the imposition of any lien or be condemned or vacated, by reason of non-compliance or otherwise by reason
by such contest. 
  
 13.  Alterations and Repairs 
  
 A.  Tenant shall, subsequent to the installation of the Tenant’s not make any alterations in or additions, changes or repairs to the Premises without the
Landlord’s prior written approval in each and every instance, such consent not to be unreasonably withheld, delayed or conditioned provided however Tenant may make alterations without Landlord’s consent said alterations do not adversely
affect roof, structure, or building system void any warranties with respect thereto (only if Tenant has received copies of any such warranties); (2) Landlord is given prior notice thereof; and (3) the cost of any such requested alteration does not
exceed SEVENTY-FIVE THOUSAND ($75,000.00) DOLLARS. It shall not be unreasonable for Landlord to withhold approval of any alteration or addition which adversely impacts the Building or any Building system, or which would otherwise result in
additional improvements to the Premises (unless Tenant agrees at its sole cost to install such additional improvements). In the event Landlord grants the requested approval, Tenant shall be responsible for the cost of any such alteration or
additions, as well as the cost of any improvements to the required as the result thereof. Any such approval shall further be subject to the terms and conditions hereinafter set forth. 
  
 B.  In order to obtain such consent, as required in Section 13. A above, Tenant shall furnish Landlord: (i) plans and specifications for the Alterations (which
Tenant warrants are in conformance with all applicable laws and consistent in all respects with the aesthetics and the following “Systems Building: electrical, heating, ventilating, air-cooling, plumbing/fire and structural) prepared at the
expense of Tenant, by engineers acceptable to Landlord not to be unreasonably withheld, delayed or conditioned, (ii) names and addresses of contractors (“Contractors”) and to the extent available subcontractors (“Subcontractors”)
and (iii) copies of contracts with and, to the extent available, Subcontractors which contracts shall provide, among other things, that no changes, amendments, extras or additional work are permitted without the consent of Landlord, not to be
unreasonably withheld, delayed or conditioned. Landlord reserves the right to deny any Contractor or 
 

 33 

 Subcontractor entry to the Building only for cause, but the failure of Landlord to exercise this right shall not be deemed an approval of either
the financial stability or quality of workmanship of any such Contractor or Subcontractor. If Landlord shall fail to deliver its consent within ten (10) business days after request, Landlord’s approval shall be deemed given. 

 
 C.  If Landlord grants such consent, all Alterations shall be performed at the sole expense of Tenant, in a
workmanlike manner and materials furnished shall be of a like quality to those in the Building. Landlord may elect to observe and inspect such work provided Tenant is not unreasonably delayed and Tenant agrees to reasonably cooperate in conjunction
therewith. Subsequent to the granting of the consent by Landlord but before the commencement of the Alterations or delivery of any materials onto the Premises or into the Building, Tenant shall furnish Landlord, to the extent applicable and
available: (i) necessary permits, (ii) to the extent necessary to obtain title insurance coverage over liens, sworn Contractor affidavits, as may be commercially reasonable, in the form provided by a nationally recognized title company, listing all
subcontracts with suppliers of materials and/or labor, with whom Contractors have contractual relations for the Alterations, and setting forth a summary of such contractual relationships, (iii) to the extent necessary to obtain title insurance
coverage over liens, subcontractor affidavits, as may be commercially reasonable, in the form provided by a nationally recognized title company, and (iv) certificates of insurance from all Contractors and Subcontractors performing labor or
furnishing materials, insuring against any and all claims, costs, damages, liabilities and expenses which may be reasonably requested by Landlord. The certificates of insurance required, in addition to any other requirements of Landlord, must
evidence coverage in amounts and from companies reasonably satisfactory to Landlord and may be cancelable only with ten (10) days advance notice to Landlord. If Landlord consents or supervises, such shall not be deemed a warranty as to the adequacy
of the design or workmanship or quality of the materials and Landlord hereby disavows any responsibility and/or liability for such. Additionally, under no circumstances shall Landlord have any responsibility to repair or maintain any portion of the
Alterations which either does not function or ceases to function. 
  
 D.  Tenant shall procure, or cause to
be procured, and pay for all permits, licenses, approvals, certificates and authorizations necessary for the prosecution and completion of the Alterations. All Alterations shall be done in strict accordance with all laws, ordinances, rules,
regulations and requirements of any applicable board of underwriters or fire rating bureau and all municipal, state, federal and other authorities having jurisdiction. Where drawings and specifications conflict with the law, the law is to be
followed. Tenant shall promptly notify the respective departments or official bodies when the Alterations are ready for inspection and shall, at once, do all work required to remove any violations or to comply with such inspections, without
additional charge to Landlord. Tenant shall perform, or cause to be performed, all work necessary to 
 

 34 

 obtain approvals from authorities mentioned above without additional cost to Landlord. 
  

E.  Tenant agrees to reimburse Landlord for reasonable and actual out of pocket sums expended for examination and approval of the architectural and
mechanical plans and specifications. Such reimbursement shall include the usual customary, and documented costs of any of Landlord’s local employees, or “third-party” consultants, architects, engineers, attorneys, or other
consultants. 
  
 F.  Tenant agrees that the Alterations shall be performed so as not to cause or create any
jurisdictional or other labor disputes, and in the event such disputes occur, Tenant shall immediately do whatever is necessary to resolve such disputes, at no expense to Landlord. 
  
 G.  Subject to and pursuant to the provisions of Section 17.K. hereof, Tenant hereby agrees to indemnify and hold Landlord, mortgagees of whom Tenant has notice,
and their respective agents and employees harmless from any and all liabilities of every kind and description, including reasonable attorneys’ fees which may arise out of or be connected in any way with Tenant’s construction of the
Alterations. Any mechanic’s lien filed against the Premises, or the Property, for the Alterations or materials claimed to have been furnished to Tenant shall be discharged of record (or paid if a notice be serviced) by Tenant within thirty (30)
days after filing (or service) at the expense of Tenant, unless (i) Tenant has deposited or deposits with Landlord one hundred fifty (150%) percent of the lien in cash; (ii) (a) Tenant has purchased or caused the purchase of a payment bond pursuant
to A. R. S. §33-1003 or (b) Tenant has recorded or caused the recording of a surety bond as required by A. R. S. §33-1004; or (iii) subject to and pursuant to the provisions of Section 17.K hereof, Tenant may contest any such lien so long
as Tenant diligently prosecutes such lien and holds Landlord harmless from any claims arising from Tenant’s failure to discharge any such lien of record. 
  
 H.  All additions, fixtures, hardware, and all improvements, in or upon the Premises, whether placed there by Tenant or Landlord, as well as all wiring, cables, risers, and similar
installations appurtenant thereto installed by Tenant or Landlord for the benefit of Tenant in the Building (“Wiring”) shall, unless Landlord requests their removal prior to installation, become the property of Landlord and shall remain
upon the Premises at the termination of this Lease by lapse of time or otherwise without compensation, allowance or credit to Tenant. If, at the expiration of the Term, Tenant does not remove said additions, fixtures, hardware, and improvements
(which were required to be removed by Landlord at the time of installation) Landlord may remove them and Tenant shall pay the reasonable expense of such removal to Landlord within thirty (30) days after demand. All of Tenant’s trade futures,
equipment and personal property may be removed upon the expiration or termination of this Lease, provided however, that Tenant shall be responsible for the restoration of the Premises to the condition in 
 

 35 

 which they existed at the Commencement Date, reasonable wear and tear and damage by fire or other casualty, condemnation, or Landlord default
excepted. Upon approval of the Alterations, Landlord shall notify Tenant whether Landlord will require that Tenant remove, at the termination of this Lease, such Alterations or any particular portion thereof and Landlord shall notify Tenant on or
before it approves such plans as to whether or not it will require removal. 
  
 I.  Tenant shall, at the
termination of this Lease, surrender the Premises to Landlord in as good condition and repair as reasonable, and proper use thereof will permit, loss by ordinary wear and tear, fire or other casualty, condemnation or damage by Landlord excepted.

  
 J.  The terms and provisions of this Article 13 shall be inapplicable to the Tenant’s Work.

  
 14.  Abandonment 
  
 Any personal property belonging to Tenant and left on the Premises at the end of the stated Term or otherwise upon vacation of the Premises shall be deemed abandoned, at the option of the Landlord.

  
 15.  Assignment and Subletting 
  
 A.  Notwithstanding anything to the contrary contained herein, Landlord’s consent shall not be required for an assignment of the Lease or sublease of the
Premises (or any portion thereof) to (i) affiliates or subsidiaries of Tenant; (ii) successors by merger, acquisition or consolidation; (iii) any entity under common control with, controlled by, or controlling Tenant; or (iv) successor in interest
to all or a major portion of Tenant’s business, assets and/or stock ((i) through (iv) being a “Permitted Transfer” and any such entity being referred to as a “Permitted Transferee”) so long as: (x) the use of the Premises
does not change; and (y) Landlord is given prior notice thereof; and (z) unless Tenant evidences to Landlord’s reasonable satisfaction that the assignee or sublessee has the same investment rating (as stated by Moody’s or S&P or
imputed to have same rating as Moody’s or S&P) as Tenant on the date of the Permitted Transfer, Tenant is not relieved of any of its liabilities or responsibilities hereunder. 
  
 B.  Tenant shall not assign this Lease, or any interest therein and shall not sublet the Premises or any part thereof, or any right or privilege appurtenant
thereto, or allow any other person to occupy or use the Premises, or any portion 
 

 36 

 thereof, without the written consent of Landlord first had and obtained, which consent shall not be unreasonably withheld or delayed. Provided
there is no Event of Default hereunder, Landlord will not unreasonably withhold its consent to Tenant’s assignment of the Lease or subletting all or a portion of the Premises, provided; (i) in case of subleases of more than one floor, Landlord,
in its discretion reasonably exercised, determines, that the proposed use of the Premises is acceptable (only if such use is different than a Purpose specified in the Lease Schedule) and that the financial responsibility of the proposed sublessee or
occupant, as the case may be, is adequate to pay the Rent; (ii) any assignee or subtenant shall expressly assume all the obligations of this Lease on Tenant’s part to be performed; (iii) such consent, if given, shall not release Tenant of any
of its obligations (including, without limitation, its obligation to pay rent) under this Lease; and (iv) a consent to one assignment, sublease or occupancy agreement shall be limited to such particular assignment, sublease or occupancy agreement
and shall not be deemed to constitute Landlord’s consent to any further assignment or sublease or occupancy agreement. Any such assignment or sublease without such consent shall be void and shall, at the option of Landlord, constitute a default
under this Lease. Tenant will pay all of Landlord’s reasonable and documented costs associated with any such assignment or subletting including but not limited to reasonable legal fees not to exceed ONE THOUSAND ($1,000.00) DOLLARS.
Notwithstanding anything to the contrary contained herein, if Landlord fails to approve the proposed assignment or sublease within ten (10) business days after receipt of the information required hereunder, Landlord’s failure to approve the
proposed assignment or sublease within such ten (10) business day period shall be deemed an approval. 
  
 C.  Except for a Permitted Transfer under Section 15.A, Tenant shall pay to Landlord fifty (50%) percent of the Profits (as hereafter defined) if any, from any sublease, and Tenant shall retain fifty (50%) percent of the
Profits, if any, from such sublease. “Profits” shall be determined (1) by deducting from the rent or other consideration received by Tenant in connection with any sublease, the rent (including without limitation Base Rent, Operating
Expenses and Taxes) payable hereunder (or the allocable portion thereof) for the subleased space, and (2) only after first deducting in full (without any requirement that the costs be amortized over the term of the sublease or assignment) all of (a)
the amounts incurred by Tenant for alterations installed solely for sublease purposes, and (b) reasonable out-of-pocket subletting costs incurred by Tenant, including, without limitation, subtenant cash inducements, improvement allowances, brokerage
commissions and attorneys’ fees. Tenant shall pay to Landlord its share of such Profits, if any, within thirty (30) days after receipt from time to time of such Profits. 
 

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 16.  Signs 
  
 For purposes of this Lease, “signs” shall include all signs, designs, monuments, logos, banners, projected images, pennants, decals, advertisements, pictures,
notices, lettering, numerals, graphics, or decorations. Tenant shall not place or affix any exterior or interior signs visible from the outside of the Premises, provided however Tenant shall have the right to request Landlord to install a monument
sign at the entrance to the Desert Canyon Corporate Campus in which the Property is located, as well as an exclusive monument sign in the front of the Building, subject to: (a) Landlord’s reasonable approval of the plans therefor; (b)
compliance with all laws and covenants of record; and (c) Tenant paying the cost thereof. Nothing herein shall restrict Tenant’s right to install a lobby directory and other signs throughout the Building. With respect to all monument signage,
Landlord’s approval shall not be unreasonably withheld or delayed and Landlord shall assist Tenant in the securing of all licenses and permits necessary for the erection of such monument signage without any cost to Landlord. 

 
 17.  Damage to Property—Injury to Persons 
  
 A.  Tenant, as a material part of the consideration to be rendered to Landlord under this Lease, to the extent permitted by law, hereby waives all claims against
Landlord except claims caused by or resulting from the non-performance of the Landlord, intentional, willful or negligent acts or omissions of Landlord, its agents, servants or employees and claims for injuries to persons in, upon or about the
Premises or the Property from any cause whatsoever. 
  
 Tenant will hold Landlord, its agents, servants, and
employees exempt and harmless subject to the terms and provisions of Section 17.K from and on account of any damage or injury to any person, or to the goods, wares, and merchandise of any person, arising from the negligent uses of the Premises by
Tenant or arising from the failure of Tenant to keep the Premises in good condition as herein provided if non-performance by the Landlord or negligence of the Landlord, its agents, servants or employees does not contribute thereto. Neither Landlord
nor its agents, servants, employees shall be liable to Tenant for any damage by or from any act or negligence of any co-tenant or other occupant of the same Building, or by any owner or occupant of adjoining or contiguous property, provided however,
that the provisions of this paragraph shall not apply to negligent or willful acts or omissions of Landlord, its agents, servants or employees. Neither Tenant nor its agents, servants, employees shall be liable to Landlord for any damage by or from
any act or negligence of any other occupant of the same Building, or by any owner or occupant of adjoining or contiguous property, provided however, that the provisions of this paragraph shall not apply to negligent or willful acts or omissions of
Tenant, its agents, servants or 
 

 38 

 employees. Except as otherwise provided herein, Tenant agrees to pay for all damage to the Building or the Premises, as well as all damage to
tenants or occupants thereof caused by Tenant’s misuse or neglect of the Premises, its apparatus or appurtenances or caused by any licensee, contractor, agent or employees of Tenant. Notwithstanding anything to the contrary contained in
Sections 17.A and 17.C hereof, Tenant does not waive any obligation of Landlord to correct any latent defects in the Building, complete the Punch List Work and/or enforce construction warranties. 
  

B.  Landlord covenants and agrees, subject to the terms and provisions of Section 17.K, to defend, save harmless and indemnify Tenant from any liability for
injury, loss, accident or damage to any person or property within or about the Property and from any claims, actions, proceedings and reasonable expenses and costs in connection therewith (including, without limitation, reasonable counsel fees)
arising from the nonperformance, acts, misconduct or negligence of Landlord including Landlord’s employees, agents, contractors or licensees. 
  
 C.  All personal property belonging to Tenant that is in the Building or the Premises shall be there at the risk of Tenant or other person only, and Landlord or its agent, servants, or
employees (except in case of non-performance by the Landlord or negligent or willful acts or omissions of Landlord or its agents, servants, employees) shall not be liable for: damage to or theft of or misappropriation of such personal property; nor
for the loss of or damage to any personal property by theft or otherwise, by any means whatsoever, nor for any injury or damage to personal property resulting from fire, explosion, falling plaster, steam, gas, electricity, snow, water or rain which
may leak from any part of the Building or from the pipes, appliances or plumbing works therein or from the roof, street or subsurface or from any other place or resulting from dampness or any other cause whatsoever. Tenant shall give prompt notice
to Landlord in case of fire or accidents in the Premises of defects therein or in the fixtures or equipment. Landlord represents that the Property (including the Premises) is not located in a flood zone. 
  
 D.  Tenant shall maintain or cause to be maintained in full force and effect during the Term of this Lease (including any period
prior to the beginning of the Term during which Tenant has taken possession and including also any period of extension of the Term in which Tenant obtains possession) (i) “all risks” property insurance covering all Tenant’s personal
property in, on or about the Premises in an amount equal to the full replacement cost of such personal property, and (ii) commercial general liability insurance including products and completed operations insuring Tenant against all claims, demands
or action for 
 

 39 

 bodily injury and property damage with limits of not less than TWO MILLION ($2,000,000.00) DOLLARS each occurrence and THREE MILLION
($3,000,000.00) DOLLARS in the aggregate or such other commercially reasonable amounts as Landlord may reasonably require from time to time (provided such increases are consistent with similar buildings) and (iii) rental insurance equal to one
year’s rent insurance naming Landlord as loss payee. All liability policies shall cover the entire Premises. The certificate for Tenant’s insurance shall indicate that the Tenant’s insurance is primary, with any other insurance
available to Landlord or any other named insured being excess. 
  
 E.  Landlord shall maintain a policy or
policies of insurance with the premiums thereon fully paid in advance insuring the Building (including without limitation Tenant’s Work and Alterations) against loss or damage by fire or other insurable hazards and contingencies (including
vandalism, sprinkler leakage and malicious mischief) as are covered in a standard “all risks” property insurance policy for the full replacement cost thereof, including Tenant’s Work and Alterations (unless Landlord is notified of
Alterations performed by Tenant, [he foregoing shall only be applicable to the Tenant’s Work). If the Property is located in a flood zone, Landlord shall also maintain flood coverage insuring the Building and the Property. During construction
of the Building, including the Tenant’s Work, Landlord shall maintain at its sole cost and expense (and without passing such cost along to Tenant as an Operating Cost or as a cost of the Landlord’s Work or Tenant’s Work) a
builder’s risk policy (against loss or damage by fire and other similarly insured risks covered by extended coverage endorsements) and provide certificates evidencing such builder’s risk coverage to Tenant upon Lease execution.

  
 F.  Landlord shall maintain (whether by Landlord or its parent company) with respect to the Building
and Property, a policy or policies of commercial general liability insurance with the premiums therefor fully paid in advance, issued by and binding upon an insurance company of good financial standing, such insurance to afford minimum protection of
not less than FIVE MILLION ($5,000,000.00) DOLLARS for bodily injury or death in any one occurrence and of not less than THREE MILLION ($3,000,000.00) DOLLARS for property damage in any one occurrence. If Landlord’s insurance contains a general
aggregate limit, it shall apply separately to this Lease or be no less than two times the occurrence limit. The coverages required to be carried shall be extended to include blanket contractual liability, personal injury liability (libel, slander,
false arrest and wrongful eviction) and broad form property damage liability, which may be maintained in umbrella coverage. During the Term of this Lease, Landlord, if Landlord has employees, shall also maintain workers’ compensation insurance
with statutory limits, and employees liability insurance with limits of not less than ONE MILLION ($1,000,000.00) DOLLARS for each accident. Landlord shall provide reasonable evidence as set forth below, that the insurance required to be maintained
hereunder is in full force and effect. The premiums for insurance (specifically excluding the builder’s risk insurance) 
 

 40 

 provided by Landlord shall be included in Operating Costs. Tenant shall have the right to approve from time to time under the Term of this Lease
the scope, amount and adequacy of Landlord’s insurance and to require Landlord to increase Landlord’s insurance requirements set forth herein, the cost of which increased insurance shall be included in the Operating Costs. 

 
 Landlord shall use its best efforts to cause the Association during the Term of the Lease to maintain all insurance required to
be maintained under the Declaration and shall provide Tenant with evidence of the same at the commencement of each calendar year hereunder. 
  
 If Landlord fails to maintain the insurance set forth herein, and does not respond to Tenant within three (3) business days after notice, Tenant may, subject to the terms of Section 28 hereof, elect to
purchase the insurance required to be maintained by Landlord hereunder. 
  
 The obligations of Landlord set forth in
Section 17 hereof shall be continuous throughout the Term of this Lease regardless of whether Landlord or Tenant is managing the Property. 
  
 G.  Anything in this Lease to the contrary notwithstanding, to the extent any such claim is covered by insurance, or would be covered by any required insurance, Landlord and Tenant each waive all rights of
recovery, claim, action or cause of action against the other, its agents (including-partners, both general and limited) officers, directors, shareholders or employees, for any loss or damage that may occur to the Premises, or any improvements
thereto, to the Building or to any personal property of such party therein, by reason of fire, the elements, or any other cause which are required to be insured against under the terms of the “all risks” property insurance policies
obtained pursuant to this Lease, or any other peril which is in fact insured, regardless of cause or origin, including negligence of the other party hereto, its agents, officers or employees; and each party covenants that no insurer shall hold any
right of subrogation against such other party. Each party shall advise insurers of the foregoing and such waiver shall be a part of each policy maintained by such party which applies to the Premises, any part of the Building or Tenant’s use and
occupancy of any part thereof. It shall be a condition precedent to the effectiveness of this Lease that each party shall be responsible for maintaining the waiver of subrogation endorsement as part of its respective insurance policy. 

 
 H.  Tenant shall have the right to provide required insurance by blanket policies, or subject to Landlord’s
reasonable approval, to self-insure. 
  
 I.  All such policies required to be carried by Tenant and
Landlord hereunder and all evidence of insurance provided to the other (i) shall be issued by responsible, financially sound companies qualified to do business and in good standing in the State of Arizona and with a Best rating of A. XII or better;
(ii) shall 
 

 41 

 (a) with respect to Tenant’s policies, contain an endorsement showing that Landlord, its agents, and mortgagees, are included as an
additional insureds (except as to workers’ compensation insurance) as their respective interests may appear, and with respect to Landlord’s policies, contain an endorsement showing that Tenant is included as an additional insured (except
as to workers’ compensation insurance) and (b) contain an endorsement whereby the insurer agrees not to cancel or alter the policy without not less than thirty (30) days prior written notice to all named insureds. Tenant and Landlord shall, on
or prior to the Commencement Date, deposit with the other party certificates of such insurance, and thereafter, on or prior to fifteen (15) days before the expiration date of any coverage thereunder, shall deposit with the other party the other
certificates evidencing the renewal of such policies. 
  
 J.  Failure of Tenant to provide the insurance
coverage heretofore set forth shall entitle Landlord to either (a) treat said failure as a default after notice to Tenant and an opportunity to cure and/or (b) obtain such insurance and charge Tenant the premiums therefor as Additional Rent. Tenant
shall not violate or permit a violation of any of the conditions or terms of any such insurance policies and shall perform and satisfy all reasonable requirements of the insurance company issuing such policies of which Tenant has notice.

  
 K.  Promptly upon receipt by either party (the “Indemnified Party”) of a notice of a claim,
suit or action by a third party for which the Indemnified Party is entitled to indemnification by the other party (the “Indemnifying Party”) under this Lease, the Indemnified Party shall give the Indemnifying Party written notice thereof,
together with copies of all documents received by the Indemnified Party in connection therewith. The Indemnified Party shall, at the Indemnifying Party’s request, tender to the Indemnifying Party control of the defense (and settlement) thereof
and shall cooperate with the Indemnifying Party in such defense. The Indemnifying Party shall have the right to engage counsel of the Indemnifying Party’s choice reasonably acceptable to the Indemnified Party. Until the Indemnifying Party
accepts the control of the defense of such claim, the Indemnified Party shall have the right to employ the Indemnified Party’s own counsel, reasonably acceptable to the Indemnifying Party and the Indemnified Party shall promptly continue to
provide the Indemnifying Party with copies of all relevant documents and notices in connection therewith. In the event that the Indemnified Party believes that it needs its own independent counsel, the costs and expenses thereof shall be for the
Indemnified Party’s own account and the Indemnified Party shall not have a claim hereunder for reimbursement therefor. The giving of notice including the delivery of all documents and, if requested, tendering defense of claims, required by this
paragraph are conditions precedent to the Indemnifying Party’s indemnification obligations under this Article 17 or elsewhere under this Lease, as the case may be. The Indemnified Party shall have no claim for indemnification for any settlement
of any claim unless written notice of such settlement shall have been first furnished to the Indemnifying 
 

 42 

 Party in accordance with the provisions of this paragraph, and the Indemnifying Party shall have consented, in writing, to such settlement.

  
 18.  Damage or Destruction 
  
 A.  If all or a portion of the Building is damaged by fire or other casualty, Landlord shall give Tenant written notice (“Landlord’s Repair
Notice”) of the time which will be needed to repair such damage, as determined by Landlord. Such notice shall be given on or before the 45th day (the “Notice Date”) after the fire or other insured casualty. If Landlord fails to give
Tenant Landlord’s Repair Notice within forty-five (45) days after the fire or other insured casualty, Tenant may notify Landlord that Landlord’s Repair Notice has not been given and that Tenant may terminate this Lease if Landlord fails to
give Landlord’s Repair Notice with ten (10) days after this reminder notice is received by Landlord. 
  
 B.  If all or a portion of the Building is damaged by fire or other insured casualty to an extent which may be repaired within one hundred eighty (180) days after the Notice Date, as reasonably determined by Landlord,
provided insurance proceeds have been or will be made available for restoration by Landlord’s mortgagees, Landlord shall promptly begin to repair, in a good, first class and workmanlike manner, the damage after the Notice Date, and will
diligently pursue the completion of such repair. In that event, this Lease will continue in full force and effect. To the extent not reimbursed by rent insurance proceeds, Base Rent and Additional Rent will be abated on a pro rata basis from the
date of the damage until the date of the substantial completion of such repairs (the “Repair Period”) plus a reasonable period of time, not to exceed thirty (30) days, for Tenant to move in and re-install any of Tenant’s personal
property damaged by such casualty. The parties agree to reasonably cooperate with each other to coordinate the restoration of the Tenant’s Work and Alterations by Landlord and the re-installation of Tenant’s personal property by Tenant so
as to restore the affected portion of the Building as soon as practicable. Notwithstanding the forgoing, if a repair which Landlord determined could be made within one hundred eighty (180) days after the Notice Date is not substantially completed
within said one hundred eighty (180) day period, Tenant may terminate this Lease, upon notice given at any time after the expiration of said one hundred eighty (180) day period, but before the repair is substantially completed; provided, however,
that Landlord may nullify Tenant’s termination if Landlord substantially completes the repair within thirty (30) days after receipt of Tenant’s termination notice. 
  
 C.  If: (1) all or a portion of the Premises is damaged by fire or other insured casualty to an extent that it may not be repaired within one hundred eighty (180)
days after the Notice Date, as reasonably determined by Landlord, 
 

 43 

 and the damage impairs Tenant’s use of any portion of the Building or interferes with Tenant’s business operations; or (2) all or two
full floors or more of the Premises are damaged during the last eighteen (18) months of the Term; then (a) Landlord may cancel this Lease by written notice given to Tenant on or before the Notice Date; or (b) Tenant may cancel this Lease by written
notice given to Landlord within thirty (30) days after Landlord’s delivery of a written notice that the repairs cannot be made within such one hundred eighty (180) day period. If either party cancels this Lease in accordance with the preceding
sentence, this Lease shall terminate thirty (30) days after the date of the cancellation notice. If neither party cancels the Lease as provided in this Section 18. C, Base Rent and Additional Rent will be abated on a pro rata basis during the Repair
Period plus a reasonable period of time, not to exceed thirty (30) days, for Tenant to move in and re-install any of Tenant’s personal property damaged by such casualty. Notwithstanding the foregoing, in the case of a termination by Landlord as
set forth above: (v) Tenant may continue to lawfully occupy the undamaged portion of the Premises in accordance with all applicable building codes and other legal requirements notwithstanding such casualty, if Tenant elects, by notice to Landlord
given within sixty (60) days after the date that Landlord gives such termination notice, to extend such effective termination date as to all or any portion of the entire undamaged portion of the Premises; and/or (w) if Tenant then has an outstanding
right to extend the Term under Article 39 and Landlord exercises its termination right as set forth above, Tenant may irrevocably exercise its extension option to renew under Article 38, by written notice delivered to Landlord within sixty (60) days
after receipt of Landlord’s termination notice, in which event (x) such termination notice shall be deemed to have been rescinded and (y) the Base Rent for the extended term shall be determined at the time and in the manner set forth in Section
38. 
  
 D.  If neither Landlord nor Tenant so elects to terminate this Lease as set forth in the
immediately preceding paragraphs, Landlord shall diligently proceed to repair the Premises, including all Tenant’s Work and Alterations, in a good and first class and workmanlike manner, and the Base Rent and Additional Rent will be abated on a
pro rata basis during the Repair Period plus a reasonable period of time, not to exceed thirty (30) days, for Tenant to move in and reinstall Tenant’s personal property damaged by such casualty. Notwithstanding the foregoing, if a repair to be
made in accordance herewith is not substantially completed within the period as is specified in Landlord’s Repair Notice, Tenant may terminate this Lease upon notice given within five (5) business days after the expiration of said period (or
the expiration of such longer time period as is specified in Landlord’s Repair Notice) but before the repair is substantially completed; provided, however, that Landlord may nullify Tenant’s termination if Landlord delivers within three
(3) business days thereafter a notice of its intention to substantially complete the repair within thirty (30) days after receipt of Tenant’s termination notice and Landlord substantially completes the repair within thirty (30) days after
receipt of Tenant’s termination notice. 
 

 44 

 E.  Tenant shall be responsible for the repair or replacement of all Tenant’s personal property which is
damaged or destroyed. 
  
 F.  All times set forth in this Section 18 shall be of the essence and shall not
be delayed on account of any Force Majeure events as described in Section 26 hereof. 
  
 G.  All
determinations of Landlord with respect to the length of the restoration period shall be supported by the opinion of an independent professional engineer, architect or contractor. 
  
 H.  The proceeds from any insurance paid by reason of damage to or destruction of the Building or any part thereof, the Landlord’s Work, the Work,
Alterations, and any other element, component or property insured by Landlord shall belong to and be paid to Landlord, subject to the rights of Tenant described herein. Notwithstanding the foregoing, if this Lease is terminated under this Section
18, then (i) the proceeds of the property insurance that are attributable to the Tenant’s Work in the Premises shall belong to and be paid to Landlord in an amount equal to the Standard Tenant Build-out Amount, and (ii) Tenant shall be entitled
to any balance of such proceeds for the Tenant’s and Alteration. For purposes of this paragraph, the “Standard Tenant Build-Amount” shall mean $29.00 per rentable square foot of the Premises (as increased by the percentage increase in
the Index between the execution date of this Lease and the effective date of the termination of the Lease). 
  
 I.  “Index” shall mean the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index (All Urban Consumers, All Items, 1967 equals 100) for the Metropolitan Area or Region of which Phoenix,
Arizona, is a part. If such Index is discontinued or revised, the percentage increase in question shall be determined by reference to the index designated as the successor or substitute index by the government of the United States. 

 
 19.  Entry by Landlord 
  
 Landlord and its agents shall have the right to enter the Premises at all reasonable times (upon prior reasonable notice except in cases of emergency) and in the presence of a Tenant representative to
supply janitorial services and any other service if and to the extent to be provided by Landlord to Tenant hereunder; to make such alterations, repairs, improvements, or additions, whether structural or otherwise, to the Premises or to the Building
as Landlord may deem necessary pursuant to the terms of this Lease; and to show the same to (a) prospective purchasers and (b) tenants (during last year of the Term only) of the Building. In the event Landlord is managing the Property, Landlord may
enter by 
 

 45 

 means of a master key without liability to Tenant except as otherwise provided herein and except for any failure to exercise due care for
Tenant’s property. Landlord shall use reasonable efforts on any such entry not to unreasonably interrupt or interfere with Tenant’s use and occupancy of the Premises. 
  
 20.  Default 
  
 A. If any of
the following events of default (“Events of Default”) shall occur, to wit: 
  
 (i)  Tenant defaults for more than ten (10) days after written notice of default after the due date therefor in the payment of rent (whether Base Rent or additional rent) or any other sum required to be paid hereunder, or
any part thereof, or 
  
 (ii)  Tenant defaults in the prompt and full performance of any
other (i.e., other than payment of rent or any other sum) covenant, agreement or condition of this Lease and such other default shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant (unless such other
default involves a hazardous condition, in which event it shall be cured in time periods required by law) provided however in the event such default cannot be cured within a period of thirty (30) days and Tenant is diligently attempting to cure such
default, the time period to cure same shall be reasonably extended but in no event for a period of more than ninety (90) days, or 
  
 (iii)  The leasehold interest of Tenant be levied upon under execution or be attached by process of law and not dismissed within thirty (30) days, or 
  
 (iv)  Bankruptcy or insolvency of Tenant or assignment for the benefit of creditors by Tenant, unless in the
case of a bankruptcy the petition therefor is dismissed within sixty (60) days and unless in the case of a receivership of Tenant’s interest hereunder such receivership is discharged within ninety (90) days. 
  
 then in any such event, Landlord, in addition to other rights or remedies at law and in equity, it may have, shall have the immediate right of re-entry and may
remove all persons and personal property from the Premises; such personal property may be removed and stored in any other place in the 
 

 46 

 Building in which the Premises are situated, or in any other place, for the account of and at the expense and at the risk of Tenant.

  
 B.  Tenant hereby waives all claims for damages which may be caused by the re-entry of Landlord and
taking possession of the Premises or removing or storing the personal property as herein provided, and no such re-entry shall be considered or construed to be a forcible entry. 
  
 C.  Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by
law; it may either terminate this Lease or it may from time to time, without terminating this Lease, re-let the Premises or any part thereof for such terms and at such rental or rentals and upon such other terms and conditions as Landlord in its
sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. 
  
 D.  Landlord may elect to apply rentals received by it (i) to the payment of any indebtedness, other than rent, due hereunder from Tenant to Landlord; (ii) to the payment of any reasonable cost of such re-letting including
but not limited to any broker’s commissions or fees in connection therewith; (iii) to the payment of the reasonable cost of any alterations and repairs to the Premises; (iv) to the payment of rent due and unpaid hereunder; and the residue, if
any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should such rentals received from such re-letting after application by Landlord to the payments described in foregoing clauses (i)
through (iv) during any month be less than that agreed to be paid during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly on demand by Landlord. 

 
 E.  In lieu of electing to receive and apply rentals as provided in the immediately preceding paragraph, Landlord may
elect to receive from Tenant as and for Landlord’s liquidated damages for Tenant’s default, an amount equal to the present value of the entire amount of Base Rent provided for in this Lease for the remainder of the Term, less fair market
rental value thereof, which amount shall be forthwith due and payable by Tenant upon its being advised of such election by Landlord. 
  
 F.  No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of same is given to Tenant or unless the
termination thereof be decreed by a court of competent Jurisdiction. Notwithstanding any such re-letting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. 
  
 G.  Nothing herein contained shall limit or prejudice the right of Landlord to provide for and obtain as damages by reason of
any such termination 
 

 47 

 of this Lease or of possession an amount equal to the maximum allowed by any statute or rule of law in effect at the time when such termination
takes place, whether or not such amount be greater, equal to or less than the amounts of damages which Landlord may elect to receive as set forth above. 
  
 H.  Landlord agrees to reasonably mitigate its damages in the Event of a Default. 
  
 21.  Rules and Regulations 
  
 If the Building shall at anytime be occupied
by more than one tenant, Landlord shall have the right from time to time to adopt such reasonable rules and regulations for the safety, care and cleanliness of the Building. Landlord hereby agrees to provide Tenant reasonable advance notice of the
adoption of such rules and regulations. Such reasonable rules and regulations as may be hereafter adopted by Landlord for the safety, care and cleanliness of the Building and the preservation of good order thereon, are hereby expressly made a part
hereof, and Tenant agrees to comply with all such rules and regulations. The violation of any such rules and regulations by Tenant shall be deemed a default under this Lease by Tenant after written notice and expiration of all grace periods,
affording Landlord all those remedies set out in the Lease. In the event a conflict between the rules and regulations and this Lease occurs, the Lease shall control, provided, however, that the lack of a provision in this Lease covering the subject
matter of the rule or regulation shall not be deemed a “conflict” for purposes of this sentence. Such rules and regulations shall not interfere with Tenant’s right of use and enjoyment of the Property; shall not increase the Operating
Costs set forth herein; and shall not derogate or increase the obligations of Tenant hereunder. 
  
 22.  Non
Real Estate Taxes 
  
 During the term hereof, Tenant shall pay prior to delinquency all taxes assessed against
and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the Premises, and, to the extent possible, Tenant shall cause said trade fixtures, furnishing, equipment and other personal property to be
assessed and billed separately from the real property of Landlord. In the event any or all of the Tenant’s trade fixtures, furnishings, equipment and other personal property shall be assessed and taxed with the Landlord’s real property,
Tenant shall pay to Landlord its share of such taxes within thirty (30) days after delivery to Tenant by Landlord of a statement in 
 

 48 

 writing setting forth the amount of such taxes applicable to the Tenant’s personal property (and evidence of such allocation of non-real
estate taxes). 
  
 23.  Eminent Domain 
  
 A.  A taking of all or any part of the Premises under the exercise of the right of condemnation or eminent domain is referred to hereafter as a
“Taking”. The date upon which the condemnation authority takes possession of the portion of the Premises Taken is referred to hereafter as the “Taking Date”. In this Article, the word, “Taken” means that the Premises
have been subject to a Taking. 
  
 B.  If all of the Premises are Taken, this Lease shall terminate on the
Taking Date, and all rent and other charges payable by Tenant hereunder shall be apportioned and paid to the Taking Date. 
  
 C.  If (i) more than twenty-five (25%) percent of the rentable area of the Premises is Taken; (ii) more than ten (10%) percent of the parking spaces in the Common Area is Taken; or (iii) access to the Premises is
substantially impaired because of a Taking without providing substitute comparable access, which is acceptable to Tenant in its reasonable discretion, then Landlord or Tenant may terminate this Lease by written notice to other party given within
thirty (30) days after the Taking Date. If either party elects to terminate this Lease in accordance with the preceding sentence, all rent and other charges payable by Tenant hereunder shall be apportioned and paid to the Taking Date. 

 
 D.  If a Taking occurs and this Lease is not terminated, this Lease shall continue unaffected, except that (i) the
Base Rent shall be reduced as of the Taking Date equitably to reflect that portion of the Premises so Taken (taking into account loss of any Common Areas); (ii) Tenant shall continue to pay all Additional Rent due with respect to the remaining
Premises; (iii) Landlord and Tenant shall make any adjustments needed between them as a result of any overpayment or underpayment of Additional Rent and Base Rent with respect to the portion of the Premises (taking into account loss of Common Areas)
which has been Taken; and (iv) Landlord shall make appropriate alterations to the Property to restore them as nearly as practicable to their condition before the Taking, but Landlord shall only be required to expend for this purpose any condemnation
proceeds which Landlord receives. 
  
 E.  Tenant shall have the right to assert a claim against the
condemning authority in a separate action for Tenant’s moving expenses, personal property, trade fixtures and equipment, tenant improvements (over the standard tenant build-out amount of TWENTY-NINE ($29.00) DOLLARS per rentable square foot

 

 49 

 of the Premises (as increased by the percentage increase in the Index between the execution date of this Lease and the effective date of the
termination of the Lease) ) and any alterations paid for by Tenant. 
  
 F.  If Landlord becomes aware of a
condemnation proceeding pertaining to the Premises, Landlord shall promptly give notice thereof to Tenant. 
  
 24.  Subordination 
  
 A.  Landlord represents and warrants that as of the
date hereof there is no mortgagee who has an interest in the Property, the Building, the Premises or the Park except for Bank One Illinois who holds a mortgage in the amount of $1,825,982 secured by the Property (the “Property Mortgage”).

  
 B.  Landlord represents to Tenant that it will secure a construction loan in the amount of $21,469,000
from Bank of America within sixty (60) days of the date hereof. In connection with said construction loan, Landlord shall deliver to Tenant no later than the sixty fifth (65th) day after the execution hereof (i) the Subordination, Non-Disturbance
and Attornment Agreement attached hereto as Appendix “G” which has been executed by Bank of America and Landlord and (ii) a certified copy and/or documentation reasonably acceptable to Tenant from the Maricopa County Recorders
Office evidencing the partial release or discharge of the Property Mortgage releasing all right, title and interest of Bank One Illinois in the Property (the “Discharge”). Upon execution of the Subordination, Non-Disturbance and Attornment
Agreement by Tenant, Landlord will cause the recordation of same with the Maricopa County Recorders Office. The execution, delivery and recordation of (i) the Subordination, Non-Disturbance and Attornment Agreement and (ii) the Discharge are a
condition precedent to the effectiveness of this Lease and the failure of the Landlord to arrange for the execution, delivery and recordation of the same on the terms and conditions set forth herein shall be a breach of this Lease. In the case of
any such breach, Tenant shall have the right to terminate this Lease in which case the Lease shall end on the effective date of Tenant’s termination and the parties shall have no further obligations hereunder. 
  
 C.  Notwithstanding anything to the contrary herein contained, it is understood that the form of Subordination, Non-Disturbance
and Attornment Agreement hereto as Appendix “G” and specifically incorporated by reference herein is acceptable to Tenant and will be executed by Tenant within ten (10) business days after the request of Landlord. Landlord may
hereafter from time to time execute and deliver mortgages or trust deeds in the nature of a mortgage, both referred to herein as “Mortgages” against the Premises, or any interest therein. If requested by the Mortgagee or trustee under any
Mortgage, Tenant 
 

 50 

 will either (a) subordinate its interest in this Lease to said Mortgages, and to any and all advances made thereunder and to the interest
thereon, and to all renewals, replacements, modifications and extensions thereof, or (b) make Tenant’s interest in this Lease inferior thereto; and Tenant will promptly execute and deliver such reasonable agreement or agreements acceptable to
Tenant, as may be reasonably required by such mortgagee or trustee under any mortgage, provided however that any such subordination shall provide that so long as there is no Event of Default hereunder, Tenant’s possession and tenancy shall not
be disturbed, it being agreed that any such mortgagee or trustee shall recognize this Lease. 
  
 D.  It is
further agreed that if any mortgage shall be foreclosed (a) the liability of the mortgagee or trustee thereunder or purchaser at such foreclosure sale or the liability of a subsequent owner designated as Landlord under this Lease shall exist only so
long as such trustee, mortgagee, purchaser or owner is in possession or the owner of the Premises and such liability shall not continue or survive after further transfer of ownership, provided the transferee assumes all obligations and liabilities
of Landlord under this Lease, for matters arising before and after the date of such sale or transfer; and (b) upon request of the mortgagee or trustee, Tenant will attorn, provided Tenant’s lease is recognized by such mortgagee or purchaser, as
Tenant under this Lease, to the purchaser at any foreclosure sale under any mortgage, except as required by law, and Tenant will execute such instruments reasonably acceptable to Tenant as may be necessary or appropriate to evidence such attornment.
It is understood that Tenant’s tenancy shall not be disturbed so long as Tenant is not in default under this Lease after expiration of all cure periods. 
  
 25.  Waiver 
  
 The waiver by either party of any
breach of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term, covenant or condition or any subsequent breach of the same or any other term, covenant, or condition herein contained. The acceptance of rent
hereunder shall not be construed to be a waiver of any breach by Tenant of any term, covenant or condition of this Lease. It is understood and agreed that the remedies herein given shall be cumulative, and the exercise of any one remedy shall not be
to the exclusion of any other remedy. It is also agreed that after the service of notice or the commencement of a suit or judgment for possession of the Premises, Landlord may collect and receive any monies due, and the payment of said monies shall
not waive or affect said notice, suit or judgment. 
 

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 26.  Force Majeure 
  

“Force Majeure” event shall mean any reasonable circumstance beyond the reasonable control of Landlord or Tenant, as follows: acts of God; acts of the public
enemy; governmental interference; court orders, requisition or orders of governmental bodies or authorities, requirements under any statute, law, rule, regulation or similar requirement of a governmental authority which shall be enacted or shall
arise following the Commencement Date; casualties, strikes, insurrection, riot, civil commotion, lock-out or any other unforeseeable event (other than the inability to obtain financing) the occurrence of which would prevent or preclude Landlord or
Tenant from fully completely carrying out and performing its obligations under this Lease, provided however, Force Majeure shall not apply to any obligation which is solely the payment of money. In the event of Force Majeure, either Landlord or
Tenant, as the case may be, shall have its time for performance extended accordingly. 
  
 27.  Sale by Landlord

  
 In the event of a sale or conveyance by Landlord of the Building containing the Premises, the same shall
operate to release Landlord from any future liability upon any of the covenants or conditions, expressed or implied, herein contained in favor of Tenant, and in such event Tenant agrees to look solely to the responsibility of the successor in
interest of Landlord in and to this Lease. Notwithstanding the foregoing, Landlord hereby agrees it shall not transfer or assign, in whole or in part, the Property, the Building or the Premises or any interest in Landlord (other than transfers to
entities owned or controlled by the principals of Landlord) until after the Term Commencement Date and the delivery of the Premises (including all Common Areas) to Tenant in accordance with the terms hereof without the consent of Tenant. If Landlord
shall transfer, sell or convey the Property, after the Term Commencement Date, the transferee landlord shall be deemed to have assumed all liabilities and obligations of Landlord under this Lease, for matters arising before and after the date of
such sale or transfer. The foregoing provisions of assumption shall be self-operative upon the occurrence of any such sale or transfer, without the need for any separate instrument, but in confirmation thereof, upon the request of Tenant, the
transferee landlord shall execute and deliver to Tenant an agreement confirming such assumption. 
 

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 28.  Rights of Landlord and Tenant To Perform 
  
 If there is an Event of Default hereunder on the part of Tenant, Landlord, after thirty (30) days’ written notice to Tenant, may (but
shall not be required to) perform the same or make any payment on Tenant’s part to be made or performed. Tenant shall, within thirty (30) days of Landlord’s demand therefor, reimburse Landlord for all costs and expenses incurred by
Landlord, with interest at the interest rate set forth in Section 5. B hereof from the date of payment by Landlord to the date of reimbursement by Tenant. Notwithstanding the foregoing, such thirty (30) day period shall be shortened in the event of
an emergency in which event no written notice is required. In the event of an emergency, Landlord shall give Tenant prompt notice of any action taken by Landlord and shall incur only such costs and expenses as are necessary to meet the emergency.

  
 If Landlord shall fail to timely perform any of its obligations under this Lease, Tenant, after thirty (30)
days’ written notice to Landlord and any mortgagee of Landlord of which Tenant has knowledge, may (but shall not be required to) perform the same or make any payment on Landlord’s part to be made or performed. Landlord shall; within thirty
(30) days of Tenant’s demand therefor, reimburse Tenant for all costs and expenses incurred by Tenant, with interest at the interest rate set forth in Section 5. B hereof from the date of payment by Tenant to the date of reimbursement by
Landlord. If Landlord shall not timely make such reimbursement, Tenant may offset the cost of the same against the rent due hereunder. Notwithstanding the foregoing, such thirty (30) day period shall be shortened in the event of an emergency, in the
case of Landlord’s failure to obtain insurance as set forth herein, and in the case of the failure of any escrow agent to release the money for the payment of Taxes as set forth herein. In the event of an emergency, Tenant shall give Landlord
prompt written notice of any action taken by Tenant and shall incur only such costs and expenses as are necessary to meet the emergency. 
  
 29.  Attorneys’ Fees 
  
 In the event of any litigation between Tenant and
Landlord to enforce any provision of this Lease, or any right of either party hereto, the unsuccessful party of such litigation, shall pay to the prevailing party all reasonable costs and expenses, including reasonable attorneys’ fees, incurred
therein. 
 

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 30.  Estoppel Certificate 
  
 Either party shall at any time and from time to time upon not less than fifteen (15) business days’ prior written notice from the
other execute, acknowledge and deliver to the requesting party a statement in writing certifying that this Lease is unmodified and in full force and effect (or if modified, stating the nature of the modification and certifying that this Lease, as so
modified, is in full force and effect) and the dates to which the rental and other charges are paid and acknowledging that there are not, to such certifying party’s knowledge, any uncured defaults on the part of the other party hereunder or
specifying such defaults if any are claimed, as well as any other reasonable information requested by Landlord. In the case of a statement made by Tenant, it is expressly understood and agreed that any such statement may be relied upon by any
prospective purchaser or lender for all or any portion of the Premises. 
  
 31.  Preparation 

 
 Landlord agrees to cause and diligently prosecute construction and completion of the Building and the Common Areas in
accordance with the terms, conditions, and provisions in Appendix “C”, Appendix “D” and in Appendix “E” which are attached hereto and made a part of this Lease. 
  
 32.  Notices 
  
 Any notice from Landlord to Tenant or from Tenant to Landlord may be served personally, by registered or certified mail, or by overnight delivery. If served by mail, notice shall be deemed served on the third day after
mailing by registered or certified mail, addressed to Tenant at the address set forth in the Lease Schedule for Tenant Notice or to Landlord at the place from time to time established for the payment of rent and a copy thereof shall until further
notice, be served on Landlord at the address shown for service of notice at the address set forth for service of notice in the Lease Schedule. If served personally, notice shall be deemed served on the day actually received. If served by overnight
delivery, notice shall be deemed served on the day after deposit with the overnight delivery service according to their records. 
 

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 33.  Rights Reserved 
  
 Landlord reserves the following rights, exercisable with notice and without liability to Tenant for damage or injury to property (except
for Landlord’s negligence and except as otherwise provided herein) person or business and without effecting an eviction, constructive or actual or disturbance of Tenant’s use of possession or giving rise to any claim for set-off or
abatement of rent: 
  
 (a)  To change the Building’s street address; 

 
 (b)  To retain at all times, and to use in appropriate instances, keys and/or keycards, to all doors
within and into the Premises to the extent Landlord is responsible for the management of the Building. No locks or bolts shall be altered, changed or added without the prior written consent of Landlord, which consent shall not be unreasonably
withheld, delayed, or conditioned; 
  
 (c)  To approve the weight, size and location of
safes and other heavy equipment and articles in and about the Premises in excess of those contemplated by the specifications attached hereto in Appendix “D”. Movements of Tenant’s property into or out of the Premises and within
the Premises are entirely at the risk and responsibility of Tenant. 
  
 34.  Real Estate Broker

  
 Each party represents that it has dealt with only with the brokers set forth in the Lease Schedule as brokers
in connection with this Lease and each party subject to and in accordance with the provisions of Section 17.K hereof agrees to indemnify and hold the other harmless from all claims or demands of any other broker or brokers for any commission alleged
to be due such broker or brokers in connection with its participating in the negotiation with such indemnifying party with respect to this Lease. Landlord agrees to pay all commissions due Brokers set forth in the Lease Schedule as per
Landlord’s separate agreements therewith. 
 

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 35.  Miscellaneous Provisions 
  
 A.  Time is of the essence of this Lease and each and all of its provisions. 
  
 B.  Submission of this instrument for examination or signature by Tenant does not constitute a reservation or offer or option
for lease, and it is not effective as a lease or otherwise so as to incur the least inconvenience to Tenant. The parties each acknowledge and agree that, except as may be specifically set forth elsewhere in this Lease or any Appendices hereto,
neither party, nor any employee thereof, nor other party claiming to act on either party’s behalf, has made any representations, warranties, estimations, or promises of any kind or nature whatsoever relating to the physical condition of the
Premises, or the Common Areas, including by way of example only, the fitness of the Premises for Tenant’s intended use or the actual dimensions of the Premises; and 
  
 C.  If any term, covenant, use restriction or condition of this Lease or its application to any person or circumstances shall be held to be invalid or
unenforceable, such term, covenant, use restriction or condition of this Lease shall no longer be deemed a part of this Lease. However, the remainder of this Lease or the application of such terms or provisions to other persons or circumstances
shall not be affected, and each term hereof shall be valid and enforceable to the fullest extent permitted by law. 
  
 D.  This Lease shall be governed by and construed pursuant to the laws of the jurisdiction in which the Property is located. 
  
 E.  Unless Tenant is a publicly held company, with respect to any proposed sale or refinancing by Landlord, Tenant agrees to provide to Landlord, upon request, a current financial statement
of Tenant certified by an authorized representative of Tenant to be true and correct, provided that the recipients thereof execute a confidentially agreement reasonable to Tenant and further provided that the recipient is not an Operator as
identified in Section 40 hereof. 
  
 F.  All rights and remedies of Landlord under this Lease, or that may
be provided by law, may be exercised by Landlord in its own name individually, or in its name by its Rent Agent, and all legal proceedings for the enforcement of any such rights or remedies, including distress for rent, forcible detainer, and any
other legal or equitable proceedings, may be commenced and prosecuted to final judgment and execution by Landlord in its own name individually or in its name or by its agent. Landlord represents that Landlord has full power and authority to execute
this Lease and to make and perform the agreements herein contained and shall deliver evidence of the same acceptable to Tenant prior to Lease 
 

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 execution. Tenant expressly stipulates that any rights or remedies available to Landlord either by the provision of this Lease or otherwise may
be enforced by Landlord in its own name individually or in its name by agent or principal. 
  
 G.  The
marginal headings and titles to the paragraphs of this Lease are not a part of this Lease and shall have no effect upon the construction or interpretation of any part hereof. 
  
 H.  Any and all Exhibits or Appendices attached hereto are expressly made a part of this Lease. 
  
 I.  This is a commercial lease and has been entered into by both parties in reliance upon the economic and legal bargains contained herein, and both parties agree
and represent each to the other that they have had the opportunity to obtain counsel of their own choice to represent them in the negotiation and execution of this Lease, whether or not either or both have elected to avail themselves of such
opportunity. This Lease shall be interpreted and construed in a fair and impartial manner without regard to such factors as the party which prepared the instrument, the relative bargaining powers of the parties or the domicile of any party.

  
 J.  WAIVER OF RIGHT TO TRIAL BY JURY.    Landlord and Tenant hereby waive
any right to a trial by jury in any action or proceeding based upon, or related to, the subject matter of this Lease. This waiver is knowingly, intentionally, and voluntarily made by each of parties hereto and each party acknowledges to the other
that neither the other party nor any person acting on its respective behalf has made any representations to induce this waiver of trial by jury or in any way to modify or nullify its effect. The parties acknowledge that they have read and understand
the meaning and ramifications of this waiver provision and have elected same of their own free will. 
  
 K.  Landlord hereby covenants that so long as there is no Event of Default hereunder, Tenant shall quietly and peaceably have, hold, occupy and enjoy the Building together with all Common Areas and Park Common Areas serving
the Building including parking areas as described herein during the Term of this Lease from and against the claims of all persons. 
  
 L.  Tenant shall have the right to name the Building with Tenant name. 
  
 M.  Landlord represents and warrants that as of the date of execution hereof, there are no outstanding obligations with respect to the Property which are due and payable, including without limitation, all obligations under
the Declaration. 
 

 57 

  
 N.  Landlord represents and warrants that it has good, clear, record
and marketable title to the Property, subject only to those encumbrances set the Schedule of Title Encumbrances attached hereto as Appendix “I”, which encumbrances do not prevent Landlord from entering into this performing its
obligations hereunder. 
  
 O.  To the extent that the provisions of this Lease are inconsistent with those
contained in the Workletter attached hereto Appendix as “C” or any other Appendices, the Lease shall control. To the extent any Appendices to Lease and/or the Workletter, are inconsistent with the terms o f the Workletter
shall control. 
  
 P.  Landlord represents that the Property is zoned A-l, Light Industrial, which permits
office uses as proposed herein. 
  
 Q.  The Building (including all common areas, entrances, restrooms,
elevators, water fountains and signage) the parking areas and the Property will, upon substantial completion and issuance of all necessary permits and required to be obtained from any all and necessary governmental agencies prior to occupancy of the
Premises by Tenant, including without limitation a certificate of occupancy from the City of Phoenix which allows Tenant to use occupy the Building for the permitted uses, comply with all dimensional parking, loading and other zoning requirements of
the City of Phoenix, and applicable building codes and govern mental requirements, including limitation the regulations of the ADA. 
  
 36.  Authority 
  
 Each party represents and warrants that this Lease has been duly
authorized, executed and delivered by and on its respective behalf and that it constitutes its valid and binding agreement in accordance with the terms hereof. 
  
 37.  Cellular, Radio, Microwave and Other Electronic Transmission 
  
 Tenant may use the Premises for any lawful activity, including without limitation, the transmission and the reception of radio, microwave, electronic communication signals on various frequencies of service. Landlord agrees
to cooperate with Tenant in making applications for and obtaining all licenses, permits and any and all other necessary approvals that may be for this aspect of Tenant’s intended use of the Premises, all of which shall be at 

 58 

 Tenant’s sole cost and expense. At all times during the term of the Lease (Landlord hereby agreeing to cooperate in obtaining and
maintaining all such licenses and approvals without cost to Landlord) Tenant will be responsible for obtaining and maintaining any licenses or approvals that may be required from any governmental body of competent jurisdiction for this aspect of its
intended use of the Premises. Failure to obtain any such required licenses or approvals shall not invalidate any portion of the Lease other than those provisions contained within this Section 37. If requested by Landlord, Tenant shall provide copies
of all such licenses or approvals, including copies of any forms used in making application for same. 
  
 After
approval of Tenant’s specific plans by Landlord which approval shall not be unreasonably withheld or delayed, Tenant, at its sole cost and expense, shall have the right to erect, maintain and operate radio, microwave or other electronic
communications facilities, including radio transmitting and receiving antennas, towers, microwave dishes and supporting structures thereto (“Tenant’s Facilities”). In connection therewith and after Landlord’s approval of
Tenant’s specific plans not to be unreasonably withheld, delayed, or conditioned, Tenant shall have the right to install transmission lines connecting Tenant’s Facilities to the Building. Tenant’s installation, construction and
ongoing maintenance shall be performed in a workman like manner, and any damage to the Building, Premises or Property done by Tenant and Tenant’s suppliers and/or subcontractors shall be reported to Landlord and shall be repaired by Tenant at
its sole cost and expense. Any Tenant Facilities installed hereunder shall meet all applicable city, county, state or other applicable ordinances and/or codes. Tenant shall use reasonable efforts to not interfere with the reception of television,
radio or other electronic signals or the operation of any equipment used by owners or tenants of surrounding properties and/or buildings. Tenant has the right to remove all Tenant Facilities at its sole cost and expense on or before expiration of
the Lease Term, provided that Tenant shall be responsible for repairing any damage to the Building or the Property resulting from said removal to the reasonable satisfaction of Landlord. 
  
 Tenant shall at all times use reasonable efforts to operate Tenant Facilities in a manner that Tenant’s transmission will not cause interference with television, radio
or other electronic signals to owners, tenants or occupants of surrounding properties lawfully and in compliance with all regulations or requirements of Federal Communications Commission or any other governmental agency of competent jurisdiction. In
accordance with and subject to the terms and provisions of Section 17.K. hereof, Tenant shall hold Landlord and Landlord’s agents harmless from any and all liabilities arising out of the installation, maintenance or operation of the Tenant
Facilities, whether such liabilities arise (i) from interference with radio, television and other electronic reception within the Building; (ii) from interference with the business operation or radio, television or other electronic reception in
buildings surrounding or adjoining the Property; (iii) from tower or equipment breakage, collapse or failure; 
 

 59 

 and (iv) or from any other cause resulting from Tenant’s use, maintenance, installation and/or operation of the Tenant Facilities.

  
 38.  Renewal Option 
  
 A.  So long as there is no Event of Default hereunder, Tenant shall have two (2) options to renew the terms and conditions of the within Lease for all or any
portion of the Premises (provided that such portion of the Premises is not less than two (2) contiguous floors) for two (2) five (5) year periods upon the same terms and conditions contained herein except for the Base Rent (each five year term being
referred to as an “extended term”). Said options shall be exercised in writing not less than twelve (12) months prior to the expiration of the initial term hereof or the expiration of the first extended term, as the case may be. In the
event of such exercise, the Base Rent for each of said extended terms shall be equal to ninety-five (95%) percent of the Fair Market Rent (as hereinafter defined) as hereinafter defined, provided however in no event shall the annual rent for the
first extended term be greater than $20.59/r. s. f. Failure to exercise either or both of said options in the manner and time aforesaid shall render same null and void and of no further or effect. Failure to exercise the first option for the
extended term shall render the second option for the extended term null and void and of no further force or effect. 
  
 B.  In the event the parties are unable after the exercise of good faith efforts to agree upon the Fair Market Rent within thirty (30) days of Tenant’s exercise, then Tenant’s rights to extend shall be of no
further force or effect whatsoever, unless Tenant elects to invoke the three (3) broker method of determining the Fair Market Rent for the applicable extended term. If Tenant invokes such three (3) broker method by written notice to Landlord, the
procedure shall be as follows: within ten (10) days after the expiration of the thirty (30) day period during which Landlord and Tenant fail to reach agreement, Tenant must give Landlord written irrevocable notice to exercise the three (3) broker
method herein set forth. Within thirty (30) days after notice is received by Landlord, Landlord and Tenant shall each appoint a Qualified Broker as hereinafter defined, who shall be licensed in the State of Arizona and specializes in the evaluation
of commercial real estate and office rents in the Phoenix metropolitan area for property of similar age, size, and location and shall have at least ten (10) years experience. Such two (2) Qualified Brokers shall each determine within twenty (20)
days after their appointment the Fair Market Rent for the extended term. If the two (2) Qualified Brokers chosen by the parties are unable to agree on the Fair Market Rent, then the two (2) Qualified Brokers, shall, within five (5) days after the
conclusion of the twenty (20) day period, in which they were to have reached agreement together appoint a third similarly Qualified Broker. If the parties do not so agree within such five (5) day period, 
 

 60 

 then either party, on behalf of both, may request appointment of such a Qualified Broker by an officer of the American Arbitration Association
in Phoenix (or any successor organization). The third Qualified Broker shall, without being informed of the determinations of the two (2) Qualified Brokers, within ten (10) days after his or her appointment, conduct an independent evaluation of the
Premises, and make an independent determination of the Fair Market Rent for the extended term. After completion of its determination of Fair Market Rent for the Premises, the third Qualified Broker shall meet with the other two Qualified Brokers,
Landlord and Tenant, and there shall be a simultaneous exchange of the determinations of each Qualified Broker. The annual base rent for each applicable extended period shall equal ninety-five (95%) percent of the average the two (2) determinations
that are closest together and such annual Base Rent determined in accordance with the foregoing procedure shall be final, binding, and conclusive on the parties hereto. Landlord and Tenant shall execute an amendment to this lease incorporating such
terms. Landlord and Tenant shall each bear the cost of its Qualified Broker and shall equally share the cost of the third Qualified Broker. All of the terms and conditions set forth herein shall be the same during the extended term except for Base
Rent. 
  
 C.  “Fair Market Rent’, shall mean the annual fair market rental value (i.e., net of
Operating Costs and Taxes) for the Premises for a term coterminous with the time period for which such Fair Market Rent is to be effective, upon all of the other terms of this Lease. In determining such Fair Market Rent, if reference is made to
other lease transactions for comparable space, taking into consideration all relevant factors, such comparable space shall be for leases in Class A midrise office buildings in the I-17 corridor, with appropriate adjustments for the rental rates in
such transactions to take into consideration differences in any relevant factors, which may include, without limitation, differences in buildings, views, relative floor plan efficiency, tenant improvements (specifically excluding all contributions
made by Tenant toward Tenant’s and Alterations) the build out period, proposed term of lease, extent of services provided or to be provided, commissions (if not paid) the time the particular rate under consideration became or is to become
effective, and any other relevant terms or conditions. 
  
 D.  In no event shall the Base Rent during
either of the extended terms be a minimum rent or “floor rent”. 
  
 39.  Right of First Refusal

  
 As long as Tenant is not in default beyond any notice and cure period, Tenant shall have the right of first
refusal throughout the Term of this Lease, 
 

 61 

 including any extensions thereof, to purchase the Property, including the Building, upon the same terms and conditions under which Landlord is
willing to sell same to a bona fide third party purchaser. Landlord agrees upon receiving a bona fide third party offer (“offer”) to purchase the Property to notify Tenant of the terms thereof and Tenant shall have fifteen (15) business
days from receipt of such notice and a certified copy of such offer in which to elect to purchase the Property upon the same terms and conditions as contained in such offer, provided however Tenant shall execute a confidentiality agreement in
commercially reasonable form and substance as a condition of receiving a copy of such offer. Should Tenant elect to purchase the Property, Landlord and Tenant agree to execute a commercially reasonable purchase and sale agreement within thirty (30)
days after Tenant’s election and agree to close on the date set forth in said offer, but no sooner than 120 days after Tenant’s election and no later than 180 days after Tenant’s election. Failure of Tenant to elect in writing to
purchase the Property on such terms and conditions within said fifteen (15) business days shall render the option hereunder null and void and of no further force or effect. If Landlord does not then sell the Property on the same terms (excepting,
however, a variation in the purchase price in favor of the purchaser which is not greater than five (5%) percent) and close on the sale with the purchaser identified in the offer within one hundred eighty (180) days of the date of Landlord’s
receipt of the offer from such purchaser, Tenant’s right set forth herein shall continue. It is understood that the rights granted in this Section 39 shall not apply to transfers of title to affiliates of Landlord (i.e., entities owned or
controlled by principals of Landlord or its members) or Landlord’s principals. In the case of a transfer to an affiliate of Landlord or Landlord’s principal, Tenant’s rights hereunder shall continue in effect and shall be applicable
to any sale of the Property by such affiliate or principal. The rights of Tenant set forth herein may be made in the name of Tenant, its nominee or a Permitted Transferee. 
  
 40.  Landlord Restrictions 
  
 Landlord agrees not to enter into any lease in the Building for more than 20,000 rentable square feet to any party whose business includes mutual fund operations or mutual fund transfer operations. As of the date hereof, Tenant has
advised Landlord that the following companies engage in such operations: Vanguard, Putnam, Alliance, Janus, Fidelity, and AIM, including their respective successors and assigns (collectively, the “Operators”). Tenant shall have the right
throughout the Term of this Lease to amend the foregoing list of Operators to include successors (including those by merger or acquisition) to the foregoing entities and upon such notification, Landlord agrees that it will not enter into any lease
within the Building for more than 20,000 rentable square feet to any’ Operators identified by Tenant in this Lease or in any notices from time to time. Notwithstanding the foregoing, Tenant is under no obligation to notify Landlord

 

 62 

 of (a) any minor name changes, mergers or acquisitions regarding the Operators or (b) those name changes, mergers or acquisitions of Competitors
generally known to the public, it being understood that Landlord shall continue to recognize such entities identified in (a) and (b) hereof as Operators hereunder. In addition, this covenant of Landlord (i) shall run with all the land which
comprises the Property, (ii) shall be memorialized in a recordable covenant acceptable to Tenant binding all owners of the land within the Property, including their successors and assigns, and (iii) shall be recorded prior to execution of the Lease.
The terms and provisions of this Section 40 shall not apply to any other entities except as specifically identified in this Section 40. 
  
 41.  Landlord’s Lien 
  
 Landlord agrees that any landlord’s lien, created
by law or otherwise that Landlord may have against Tenant’s equipment and/or property located on the Premises shall be subordinate to any purchase money financing Tenant may obtain to acquire such equipment and/or property. Landlord will,
within ten (10) days after a request from Tenant, execute and deliver a document in form and substance reasonably acceptable to Landlord, Tenant and Tenant’s lender pursuant to which Landlord will subordinate its landlord’s lien to such
lender’s purchase money financing regarding equipment and/or property acquired by Tenant for use on the Premises. 
  
 42.  Successors and Assigns 
  
 The covenants and conditions herein contained shall
apply to and bind the respective heirs, successors, executors, administrators, and assigns of the parties hereto. The terms “Landlord” and “Tenant” shall include the successors and assigns of either such party. 

 63 

  
 IN WITNESS WHEREOF, the Landlord and Tenant have executed this Lease the day and
year first above written. 
  
  
  
 
	 LANDLORD:
  
 NBS Phoenix III, L. L. C.
a Delaware limited liability company,
  
 BY:    18-Chai Corp., an Illinois
corporation, its manager
 
	 
	 By:
 	 	 /s/    [ILLEGIBLE]         
 

	  	 	 Vice President
 
	 Hereunto duly authorized
  
 TENANT:
  
 Massachusetts Financial Services Company, a Delaware corporation
 
	 
	 By:
 	 	 /s/    JAMES F. BAILEY
        
 

	  	 	 Senior Vice President
 
	 Hereunto duly authorized
 

 
 

 64Prepared by R.R. Donnelley Financial -- Purchase/Sale Agmt for the ISS Atlanta Building

  
 EXHIBIT 10.75 
  
 PURCHASE AND SALE AGREEMENT FOR THE ISS ATLANTA BUILDINGS 

 AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY 
  
 THIS AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY (the “Agreement”), is made and entered into as of the 16th day of May, 2002, by and between MOUNT VERNON
PLACE PARTNERS, LLC, a Georgia limited liability company (hereinafter referred to as “Seller”) and WELLS CAPITAL, INC., a Georgia corporation (hereinafter referred to as “Purchaser”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, Seller desires to sell and Purchaser desires to purchase the Property (as hereinafter defined) subject to the terms and conditions hereinafter set forth. 
  
 NOW, THEREFORE, for and in consideration of the premises, the mutual agreements contained herein, the sum of Ten and No/100 Dollars ($10.00) in hand paid by Purchaser to
Seller at and before the sealing and delivery of these presents and for other good and valuable consideration, the receipt, adequacy, and sufficiency of which are hereby expressly acknowledged by the parties hereto, the parties hereto do hereby
covenant and agree as follows: 
  
 1.  Definitions and
Meanings.    In addition to any other terms whose definitions are fixed and defined by this Agreement, each of the following defined terms, when used in this Agreement with an initial capital letter or letters, shall have the
meaning ascribed thereto in this Paragraph 1: 
  
 “Actual Remaining Space Rent Credit”
means an amount equal to the Base Monthly Rental and additional rental (attributable to “Operating Expense Differential”) that would be due and payable by Subtenant with respect to the Remaining Space under the Sublease for the period from
the date of Closing through July 31, 2002, computed as if the “actual fourth target Commencement Date” under the Sublease occurred on the date of Closing instead of August 1, 2002, but taking into account that certain of the Operating
Expenses would not be incurred with respect to the Remaining Space if and to the extent the Remaining Space is not occupied prior to July 31, 2002. Purchaser and Seller acknowledge that the Actual Remaining Space Rent Credit will not be known until
the actual “Operating Expenses” under the Sublease for 2002 are determined by Purchaser and Purchaser delivers the “Statement of Actual Adjustment” as required by Section 8 of the Sublease. 
  
 “Agreement” means this Agreement for the Purchase and Sale of Property, together with all exhibits attached
hereto and made a part hereof. 
  
 “Architect” means Warner, Summers, Ditzel, Benefield,
Ward & Associates, Inc. 
  
 “As-Built Survey” has the meaning ascribed thereto in
Paragraph 10(m) of this Agreement. 

  
 “Bond Purchase Agreement” means that certain Bond
Purchase Agreement between Issuer and Seller dated as of September 1, 2000, relating to Taxable Revenue Bonds (Internet Security Systems, Inc. Project), Series 2000A. 
  
 “Bond Transfer Opinion” means an opinion from Seller’s counsel authorized to practice law in the State of Georgia and addressed to SunTrust
Bank, as trustee under the Indenture, to the effect that neither the sale nor the transfer of the Series 2000A Bonds to Purchaser pursuant to this Agreement will result in a violation of the Securities Act of 1933 or other applicable securities
laws. 
  
 “Boundary Line Agreement” means that certain Boundary Line Agreement among
Issuer, Seller and Spring Creek Partners, LLC and joined in by Subtenant, Guarantor, Trustee and the holder of any deed to secure debt with respect to the Real Estate and the 6405 Property in the form attached hereto as Exhibit “BB”
and by reference made a part hereof. 
  
 “Broker” means L. J. Melody & Company.

  
 “Building 3 Lease” means that certain Mount Vernon Place (Building 3) Lease Agreement
between Spring Creek Partners, LLC, as landlord, and Subtenant, as tenant, dated as of             , 2001 (undated). 
  
 “Business Days” means each day Monday through Friday, exclusive of any recognized United States holiday or a day on which banks in New York, New
York are permitted or required to be closed for business. 
  
 “Earnest Money” means the
amounts deposited by the Purchaser with the Escrow Agent as Earnest Money as provided in Paragraph 3 hereof. 
  
 “Effective Date” means the date on which this Agreement is duly executed by both Seller and Purchaser and a fully executed original counterpart of this Agreement has been received by both Seller and Purchaser, and said date
shall be inserted in the first paragraph on page 1 hereof. 
  
 “Environmental Laws” means
the following, as the same may have been amended: the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. § 9601, et seq.; the Resource Conservation Act of 1976, 42 U.S.C. § 6921,
et seq.; the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq.; the Federal Insecticide, Fungicide and Rodenticide Act, 7 U.S.C. § 136; the Federal Water Pollution Control Act, 33 U.S.C. § 1251,
et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. § 1801, et seq.; the Federal Solid Waste Disposal Act, 42 U.S.C. § 6901, et seq.; the Clean Air Act, 42 U.S.C. § 7401,
et seq.; and any other legislation or ordinance of any Governmental Authority identified by its terms as pertaining to hazardous substances or waste. 
 

 2 

 “Environmental Report” means the Report of Phase I Environmental Site Assessment prepared for
The Griffin Company by Nova Engineering and Environmental, Inc. dated May 21, 1999. 
  
 “Escrow
Agent” means First American Title Insurance Company. 
  
 “Estimated Remaining Space Rent
Credit” means an amount equal to $1,264.14 for each day from and after the date of Closing through and including July 31, 2002. 
  
 “Existing Loan Documents” means the documents and instruments evidencing or securing the construction loan made to Seller by First Union National Bank with respect to the Property.

  
 “Fifth Sublease Amendment” means that certain Fifth Amendment to Lease Agreement to be
executed by Seller and Subtenant with respect to the Sublease, as provided in Paragraph 7(h) hereof, such amendment to be in the form attached hereto as Exhibit “F” and incorporated herein by this reference. 
  
 “Governmental Authority” means any federal, state, or municipal government, branch, authority, district, agency,
court, tribunal, department, officer, official, board, commission or other instrumentality having jurisdiction with respect to the Property or the matter in issue, as the case may be. 
  
 “Guarantor” means Internet Security Systems, Inc., a Delaware corporation, formerly known as ISS Group, Inc. 
  
 “Guarantor Estoppel Certificate” means that certain Estoppel Certificate from Guarantor in the form attached
hereto as Exhibit “H” and by this reference made a part hereof. 
  
 “Hazardous
Substances” means petroleum, including crude oil or any fraction thereof, asbestos, polychlorinated biphenyls, and any other substance identified as hazardous substances or hazardous materials in the Environmental Laws. 
  
 “Home Office Payment Agreement” means that certain Home Office Payment Agreement by and among SunTrust Bank,
Issuer and Seller dated as of September 1, 2000. 
  
 “Improvements” means all buildings,
structures, and improvements situated on the Land, including, without limitation, those certain two (2) class A office buildings containing approximately 238,600 square feet of rentable floor area and connected by an elevated 2-story bridge, all
parking areas and other amenities located on the Land, and all apparatus, elevators, built–in appliances, equipment, pumps, machinery, plumbing, heating, air conditioning, and electrical and other fixtures located on the Land (but excluding any
such apparatus, equipment and machinery owned by the Issuer or the Subtenant). 
 

 3 

 “Indenture” means that certain Indenture of Trust between the Issuer and SunTrust Bank and
dated as of September 1, 2000. 
  
 “Insignia Commission Agreement” means that certain
Registration and Commission Agreement between Seller and Insignia/ESG, Inc. dated November 29, 1999. 
  
 “Inspection Period” means the period from the Effective Date through the date which is thirty (30) days after the Effective Date. 
  
 “Intangible Personal Property” means all intangible personal property owned by Seller and relating to or used in connection with the Property,
including, without limitation, all (i) tradenames, (ii) logos, (iii) warranties and guaranties given in connection with the construction and repair of the Improvements or the purchase of any Personal Property, and (iv) certificates of occupancy (or
the local equivalents), permits, licenses, approvals and authorizations issued by any Governmental Authority, and also including the Plans and Specifications, irrespective of whether same are considered “intangible” property. 

 
 “Issuer” means the Development Authority of Fulton County. 
  
 “Land” means that certain tract or parcel of land containing approximately 3.9 acres, located in Land Lot 35 of
the 17th District of Fulton County, Georgia, and being described in Exhibit “A” attached hereto and by this reference made a part hereof, together with all rights, privileges and easements appurtenant to such tract or parcel of
land, including all water rights, mineral rights, development rights, air rights, reversions or other appurtenances, and all right, title and interest of Seller, if any, in and to any land lying in the bed of any street, road, alley or right-of-way,
open or proposed, adjacent to or abutting such tract or parcel of land. 
  
 “Lease” means
that certain Lease Agreement between Issuer and Seller dated as of September 1, 2000, filed for record on December 14, 2000, recorded in Deed Book 29773, page 621, Fulton County, Georgia records, as amended by Amendment to Lease Agreement between
Issuer and Seller dated as of December 20, 2001. 
  
 “Leasehold Estate” means that certain
Leasehold Estate in and to the Land and Improvements created and established by the Lease. 
  
 “Leasing Agents” means Insignia/ESG, Inc. and The Griffin Company. 
  
 “Letter of Credit” shall mean that certain Letter of Credit issued by Wachovia Bank, N.A. in the original stated amount of $10,000,000.00 and deposited by Subtenant with First Union National Bank, as the beneficiary
thereof. 
  
 “Minimum Survey Requirements” means the “minimum standard detail
requirements for ALTA/ACSM land title surveys” jointly established and adopted by ALTA, ACSM and NSPS in 1999 and the “accuracy standards for land title surveys” (as adopted by ALTA, ACSM and NSPS) of an urban survey. 

 4 

  
 “Payment and Indemnity Agreement” means that certain
Payment and Indemnity Agreement by and among Issuer, SunTrust Bank, Seller and Subtenant dated as of September 1, 2000, relating to Taxable Revenue Bonds (Internet Security Systems, Inc. Project). 
  
 “Permitted Exceptions” means the exceptions listed on Exhibit “J” attached hereto and by
reference made a part hereof, the Boundary Line Agreement, the Reciprocal Easement Agreement, and any Title Objections to which Purchaser fails to object or which Purchaser waives pursuant to Paragraph 8 hereof. 
  
 “Personal Property” means all tangible personal property owned by Seller and now, or hereafter, located upon the
Land or used in connection with the ownership, operation, management or maintenance of the Property, including, without limitation, all machinery, apparatus, equipment, engines, motors, appliances, office equipment, screens, art, furniture,
coverings, blinds, curtains, vehicles, accessories, and the property described on Exhibit “B” attached hereto and by reference made a part hereof. 
  
 “Plans and Specifications” means those certain working drawings, plans and specification described on Exhibit “K” attached hereto
and by reference made a part hereof. 
  
 “Project Architect Certificate” means that certain
Project Architect Certificate in the form attached hereto as Exhibit “I” and incorporated herein by reference. 
  
 “Property” means, collectively, the Leasehold Estate, the Personal Property, the Intangible Personal Property, and all of Seller’s right, title and interest in and to the Sublease, the
Fifth Sublease Amendment, the Sublease Guaranty, the Series 2000A Bonds, the Bond Purchase Agreement, the Payment and Indemnity Agreement, and the Home Office Payment Agreement. 
  
 “Purchase Price” means the amount which Purchaser shall pay to consummate the purchase and sale of the Property as provided in Paragraph 4 of this
Agreement. 
  
 “Real Estate” means, collectively, the Land and Improvements. 

 
 “Reciprocal Easement Agreement” means the Reciprocal Easement Agreement among Seller, Issuer, Spring
Creek Partners, LLC and joined in by Trustee, Tenant, Guarantor and the holders of any deeds to secure debt with respect to the Real Estate and the 6405 Property in form and substance as mutually agreed upon by Seller and Purchaser prior to the
expiration of the Inspection Period. 
  
 “Remaining Space” means that certain rentable area
on the fifth (5th) floor of the “Phase II Building” (as defined in the Sublease) comprising 23,100 rentable square feet as to which Subtenant is not obligated to pay full Base Monthly Rental at the rates set forth on Exhibit
“L” attached hereto until the actual fourth target Commencement Date under the Sublease, which date has been represented by Seller to Purchaser to be August 1, 2002. 
 

 5 

  
 “Second Lease Amendment” means that certain Second
Amendment to Lease Agreement to be executed by Issuer and Seller with respect to the Lease, as provided in Paragraph 7(g) hereof, such amendment to be in the form attached hereto as Exhibit “O” and incorporated herein by reference.

  
 “Series 2000A Bonds” means, collectively, (i) that certain Development Authority of
Fulton County Taxable Revenue Bond (Internet Security Systems, Inc. Project), Series 2000A, issued by Issuer, dated as of September 14, 2000, Numbered AR-1, in the stated amount of Twenty-Six Million and No/100 Dollars ($26,000,000.00), and (ii)
that certain Development Authority of Fulton County Taxable Revenue Bond (Internet Security Systems, Inc. Project), Series 2000A, issued by Issuer, dated as of December 20, 2001, Numbered AR-2, in the stated amount of Six Million Five Hundred
Thousand and No/100 Dollars ($6,500,000.00). 
  
 “Service Contracts” means the contracts
entered into by or on behalf of Seller for the maintenance and operation of the Property, as listed on Exhibit “M” attached hereto and by reference made a part hereof. 
  
 “6405 Property” means that certain real property described in Exhibit “N” attached hereto and by reference made a part hereof and
being known as 6405 Barfield Road, Atlanta, Georgia, together with the improvements situated thereon and all appurtenances thereto. 
  
 “Sublease” means that certain Lease Agreement between Seller and Subtenant dated as of November 8, 1999, as amended by First Amendment to Lease Agreement between Seller and Subtenant, dated
December 7, 1999, as further amended by Second Amendment to Lease Agreement between Seller and Subtenant, dated as of November 27, 2000, as further amended by Third Amendment to Lease Agreement between Seller and Subtenant, dated February
            , 2001, and as further amended by Fourth Amendment to Lease Agreement between Seller and Subtenant, dated August 17, 2001. 
  

“Sublease Guaranty” means that certain Guaranty Agreement executed by Guarantor in favor of Seller as “Landlord” under the
Sublease, dated November 8, 1999, as reaffirmed by Guarantor’s joinder in that certain First Amendment to Lease Agreement dated December 7, 1999, as further reaffirmed by Guarantor’s joinder in that certain Second Amendment to Lease
Agreement dated as of November 27, 2000, as further reaffirmed by Guarantor’s joinder in that certain Third Amendment to Lease Agreement dated as of February             , 2001, and as
further reaffirmed by Guarantor’s joinder in that certain Fourth Amendment to Lease Agreement dated as of August 17, 2001. 
  
 “Subtenant” means Internet Security Systems, Inc., a Georgia corporation. 
  
 “Subtenant Estoppel Certificate” means that certain Estoppel Certificate with respect to the Sublease in the form attached hereto as Exhibit “G” and by this reference made a
part hereof. 
 

 6 

  
 “Survey Requirements” means the Minimum Survey
Requirements, plus the following items, whether or not covered by the Minimum Survey Requirements: 
  
 (i)  The political subdivision, county, and such other notations as will accurately describe the property surveyed shall be shown. 
  
 (ii)  All courses and distances of the boundaries of the Land shall be shown. 
  
 (iii)  The location of all Improvements (including measured dimensions) on the Land with the dimensions in relation to lot and building lines
shall be shown. If any applicable restrictions, recorded plats, or zoning ordinances require a building to be set back specified distances from streets or property lines, the As–Built Survey must show measured distances from said building to
said streets or lines. 
  
 (iv)  The location of all rights–of–way, water
courses, drains, sewers, utility easements, driveways, or roads which serve the Real Estate or to which the Real Estate is subject shall be shown. 
  
 (v)  The names and widths of streets with the distance from the nearest corner to the beginning point of Land surveyed shall be shown.

  
 (vi)  The total acreage or square foot area of the Land and the location and number of
paved parking spaces shall be shown. 
  
 (vii)  The names of adjoining owners on all sides
of the Land shall be shown. 
  
 (viii)  The surveyor shall certify that the real property,
as shown and described in the As–Built Survey, does not constitute an illegal subdivision of land under applicable county or city ordinances. 
  
 (ix)  The surveyor shall certify as to whether or not the Land lies within a flood zone as determined by the United States Department of Housing
and Urban Development. If the Land lies within a flood zone, the certification should reflect the flood zone classification 
  
 “Tenant Improvements” means all improvements constructed and to be constructed by the “Landlord” under the Sublease on or within the Building or on the Land (including without
limitation, emergency generators as required by the Sublease) for use or operation by the Subtenant under or pursuant to the Sublease. 
  
 “Title Company” means First American Title Insurance Company. 
 

 7 

  
 “Title Objection” and “Title Objections” mean
any mortgages, deeds of trust, deeds to secure debt, liens, financing statements, security interests, easements, leases, restrictive covenants, agreements, options, claims, clouds, encroachments, rights, taxes, assessments, mechanics’ or
materialmen’s liens (inchoate or perfected), liens for federal or state estate or inheritance taxes and other encumbrances of any nature whatsoever, whether existing of record or otherwise, together with any and all matters of any kind or
description, including, without limitation, matters of survey and any litigation or other proceedings affecting Seller and which affect title to the Real Estate or the Leasehold Estate or the right, power and authority of the Seller to convey good
and marketable title to the Leasehold Estate to Purchaser in accordance with the terms of this Agreement, other than the Permitted Exceptions listed on Exhibit “J” attached hereto and by reference made a part hereof. 

 
 “Trustee” means SunTrust Bank. 
  
 “Warranties” means all warranties and guaranties relating to the construction, operation, maintenance, repair, and use of the Improvements and
Personal Property. 
  
 2.  Purchase and Sale of Property.    Subject to and in
accordance with the terms and provisions of this Agreement, Seller hereby agrees to sell the Property to Purchaser and Purchaser hereby agrees to purchase the Property from Seller. 
  
 3.  Earnest Money.    Within two (2) business days after the full execution of this Agreement, Purchaser shall deliver to Escrow Agent,
whose offices are at 5775 Glenridge Drive, N.E., Suite A-240, Atlanta, Georgia 30308, either by Purchaser’s check, payable to Escrow Agent, or by wire transfer of federal funds to Escrow Agent’s account, the sum of Two Hundred Fifty
Thousand and No/100 Dollars ($250,000.00) (the “Earnest Money”), which Earnest Money shall be held and disbursed by Escrow Agent pursuant to a written Escrow Agreement, the form of which is attached hereto as Exhibit “C”
and by this reference made a part hereof. The Earnest Money shall be paid by Escrow Agent to Seller at Closing and shall be applied as a credit to the Purchase Price. All interest and other income from time to time earned on the Earnest Money shall
be deemed a part of the Earnest Money for all purposes of this Agreement. 
  
 4.  Purchase
Price.    Subject to adjustment and credits as otherwise specified in this Agreement, the purchase price (the “Purchase Price”) to be paid by Purchaser to Seller for the Property shall be Forty Million Five Hundred
Thousand and No/100 Dollars ($40,500,000.00). The Purchase Price shall be paid by Purchaser to Seller at the Closing by cashier’s check or by wire transfer of immediately available federal funds, less the amount of Earnest Money and subject to
prorations, adjustments, and credits as otherwise specified in this Agreement. 
  
 The amount of the Purchase Price
has been determined by Seller and Purchaser based upon (i) the accuracy of the representations and warranties of Seller set forth in Paragraph 9(f) hereof and (ii) the assumption that the annual Base Monthly Rental (as defined in the Lease) and the
Net Rental (as defined in the Lease) payable by the Subtenant under the Sublease from the date of the Closing and thereafter during the initial term of the Sublease shall be in the amounts set forth on Exhibit “L” attached hereto
and by reference made a part hereof. Seller has advised Purchaser that 
 

 8 

 Subtenant is not obligated to pay full Base Monthly Rental at the rates set forth on Exhibit “L” attached hereto with respect
to the Remaining Space until August 1, 2002. Accordingly, Seller and Purchaser have made provision for the payment by Seller to Purchaser of an amount equal to the Actual Remaining Space Rent Credit as hereinafter provided. 
  
 The amount of the Purchase Price has also been determined based on the assumption that the entire “Landlord’s Allowance for
Tenant Costs” (as defined in the Sublease) has been fully funded by Seller, that all of Landlord’s obligations with respect to the construction and installation of the Tenant Improvements have been fully performed, and that all of the
Tenant Improvements which Landlord is required to construct and install under the Sublease have been completed in accordance with the approved Drawings and Specifications with respect thereto and accepted by Subtenant, as evidenced by the execution
and delivery of a Tenant Acceptance Agreement with respect thereto as provided in the Sublease, and a permanent certificate of occupancy or its equivalent has been issued by the applicable governmental authority with respect to the applicable such
space in which Tenant Improvements have been constructed and installed, and that Landlord has received all Warranties issued and to be issued with respect to such Tenant Improvements and a final contractor’s affidavit and lien waiver from all
contractors and subcontractors performing work or supplying labor or materials with respect to such Tenant Improvements. If (and only if) all of the foregoing conditions have not been satisfied and/or completed as of the date of Closing, (i) Seller
shall deposit with Title Company in escrow, such portion of the Purchase Price equal to one hundred fifty percent (150%) of the costs and expenses reasonably estimated by Seller and Purchaser of satisfying and/or completing such conditions, and (ii)
Seller and Purchaser shall enter into a construction management agreement at Closing pursuant to which Seller shall agree to construct, install and complete all such Tenant Improvements after the Closing to the full extent of the obligations and
responsibilities of the Landlord under the Sublease with respect to such Tenant Improvements. The amount of the Purchase Price paid by Seller into escrow at Closing shall be paid to Seller by the Title Company upon the satisfaction and completion of
the foregoing conditions. The form of the escrow agreement and construction management agreement described in this paragraph shall be mutually agreed upon by Seller and Purchaser prior to the expiration of the Inspection Period. 

 
 5.  Purchaser’s Inspection and Review Rights.    Commencing on the Effective Date of
this Agreement and subject to the rights of the Subtenant, upon giving at least three (3) Business Days advance notice to Seller’s property manager, Purchaser and its agents, engineers, or representatives, with Seller’s reasonable, good
faith cooperation, shall have the privilege of going upon the Real Estate as needed to inspect, examine, test, and survey the Real Estate at all reasonable times and from time to time. Such privilege shall include the right to make borings and other
tests in specific locations reasonably approved by Seller to obtain information necessary to determine surface and subsurface conditions, provided that such activities do not materially interfere with the rights of the Subtenant or the ongoing
operation of the Real Estate. Purchaser shall maintain at all times during its entry upon the Real Estate, commercial general liability insurance with limits of not less than Five Million and No/100 Dollars ($5,000,000.00) per occurrence, combined
single limit. Such policy of insurance shall name Seller as an additional insured and such policy shall be primary with respect to the activities of Purchaser and its agents, engineers or representatives at the Real Estate, whether or not Seller
holds other policies of 
 

 9 

 insurance. A certificate issued by the insurance carrier of such policy shall be delivered to Seller prior to entry upon the Real Estate by
Purchaser or its agents, engineers or representatives, for the purpose of performing any tests or inspections. Purchaser hereby agrees to hold Seller harmless from any liens, claims, liabilities, and damages incurred through the exercise of such
privilege (but excluding any liability arising out of the existing environmental condition of the Real Estate or the presence of Hazardous Substances thereon and excluding any claims arising out of a release of existing or in-place Hazardous
Substances on or under the Real Estate), and Purchaser further agrees to repair any damage to the Real Estate caused by the exercise of such privilege (excluding any damage arising out of a release of existing or in-place Hazardous Substances on or
under the Real Estate). The obligations of Purchaser under the preceding sentence shall survive the Closing or any termination of this Agreement. 
  
 Seller has heretofore provided to Purchaser true and complete copies of the Lease, the Sublease, the Sublease Guaranty, the Series 2000A Bonds, the Bond Purchase Agreement, the Payment and Indemnity
Agreement, the Home Office Payment Agreement, and the reports, documents and instruments described on Exhibit “D” attached hereto and by reference made a part hereof. Within two (2) business days after the effective date of this
Agreement, Seller shall deliver to Purchaser true and complete copies of the reports, documents and instruments relating to the Property of the nature described on Exhibit “E” attached hereto and by reference made a part hereof. In
addition to the foregoing, at all reasonable times prior to the Closing, Seller shall make available to Purchaser, or Purchaser’s agents and representatives, at Seller’s office in Atlanta, Georgia, and for copying at Purchaser’s
expense, all other books, records, and files relating to the ownership and operation of the Property in the possession or control of Seller or Seller’s managing agent. Seller further agrees to assist and cooperate with Purchaser in good faith
in coming to a thorough understanding of the books, records, and files relating to the Property. 
  
 6.  Special Condition to Closing.    Subject to the requirements, obligations and limitations set forth in Paragraph 5 hereof, Purchaser shall have until and through the expiration of the
Inspection Period to make investigations, examinations, inspections, market studies, feasibility studies, lease reviews, and tests relating to the Property and the operation thereof in order to determine, in Purchaser’s sole opinion and
discretion, the suitability of the Property for acquisition by Purchaser. Purchaser shall have the right to terminate this Agreement at any time prior to the expiration of the Inspection Period by giving written notice to Seller of such election to
terminate. In the event Purchaser so elects to terminate this Agreement, Escrow Agent shall pay to Seller from the Earnest Money the sum of Twenty–Five Dollars ($25.00) and the balance of the Earnest Money shall be refunded by Escrow Agent to
Purchaser, whereupon, except as expressly provided to the contrary in this Agreement, no party hereto shall have any other or further rights or obligations under this Agreement. Seller acknowledges that the sum of $25.00 is good and adequate
consideration for the termination rights granted to Purchaser hereunder. 
  
 If the purchase and sale of the Property
contemplated in this Agreement fails to close for any reason whatsoever, Purchaser agrees to return to Seller all reports regarding the physical condition of the Real Estate, including the mechanical systems thereof, the plans and specifications
with respect to the Improvements, and all reports regarding the environmental condition of the Real Estate, furnished to Purchaser by Seller or its agents or representatives. Furthermore, if the 
 

 10 

 purchase and sale of the Property contemplated in this Agreement fails to close for any reason other than the default by Seller hereunder,
Purchaser shall also deliver to Seller copies of all reports and surveys relating to the physical and environmental condition of the Property furnished to Purchaser by third parties; provided, however, that delivery of such copies shall be without
warranty or representation whatsoever, express or implied, including, without limitation, any warranty or representation as to ownership, accuracy, adequacy or completeness thereof or otherwise. 
  

7.  General Conditions Precedent to Purchaser’s Obligations Regarding the Closing.    In addition to the conditions to
Purchaser’s obligations set forth in Paragraph 5 above, the obligations and liabilities of Purchaser hereunder shall in all respects be conditioned upon the satisfaction of each of the following conditions prior to or simultaneously with the
Closing, any of which may be waived by written notice from Purchaser to Seller: 
  
 (a) Seller has
complied with and otherwise performed each of the covenants and obligations of Seller set forth in this Agreement. 
  
 (b) All representations and warranties of Seller as set forth in this Agreement shall be in all respects true and correct as of the date made and as of Closing (and as if made without limitation or qualification as to
Seller’s knowledge). 
  
 (c) Except for the Boundary Line Agreement, the Second Lease Amendment,
the Fifth Sublease Amendment, and the Reciprocal Easement Agreement, there has been no adverse change to the title to the Property after the Effective Date of this Agreement which has not been cured and the Title Company is prepared to issue to
Pur­chaser upon the Closing a leasehold title insurance policy with respect to the Leasehold Estate which shall include in Schedule B thereof only the Permitted Exceptions (as hereinafter defined). 
  
 (d) The Subtenant shall not be in material default (without regard to the expiration of any applicable cure period
provided in the Sublease with Subtenant) under the terms of the Sublease as of the date of Closing. 
  
 (e) Seller shall obtain and deliver to Purchaser prior to Closing a fully completed Subtenant Estoppel Certificate with respect to the Sublease duly executed by the Subtenant thereunder. The Subtenant Estoppel Certificate shall be
executed as of a date not more than fifteen (15) days prior to Closing. 
  
 (f) Seller shall obtain
and deliver to Purchaser prior to Closing a fully completed Guarantor Estoppel Certificate duly executed by Guarantor. The Guarantor Estoppel Certificate shall be executed as of a date not more than fifteen (15) days prior to Closing. 

 
 (g) Seller shall, prior to Closing, cause to be duly and fully executed by all parties thereto and rush
recorded in the Office of the Clerk of the Superior Court of Fulton County, Georgia, the Boundary Line Agreement and the Second Lease Amendment, and 
 

 11 

 shall prior to Closing deliver to Purchaser a photocopy of the rush recorded originals showing the recording information.

  
 (h)  Seller shall, prior to Closing, obtain an amendment to the Sublease substantially
in the form attached hereto as Exhibit “F” and by reference made a part hereof, (i.e., the Fifth Sublease Amendment) duly executed by Seller, Subtenant and Guarantor. 
  
 (i)  Seller shall, prior to Closing, obtain an amendment and restatement to the Agreement Regarding Letter of Credit substantially in the form of
the Assignment, Assumption, Amendment and Restatement of Agreement Regarding Letter of Credit attached hereto as Exhibit “W” and by reference made a part hereof. 
  
 (j)  Seller shall, prior to Closing, cause to be fully executed and rush recorded in the Office of the Clerk of the Superior Court of Fulton
County, Georgia, that certain Reciprocal Easement Agreement in the form attached hereto as Exhibit “I” and by reference made a part hereof, and shall prior to Closing deliver to Purchaser a photocopy of the rush recorded original
showing the recording information. 
  
 (k)  Seller shall, prior to Closing, obtain a
certificate from the Architect substantially in the form attached hereto as Exhibit “I” and incorporated herein by reference. 
  
 (l)  Seller shall, prior to Closing, obtain an amendment to the Building 3 Lease substantially in the form attached hereto as Exhibit “CC” and by reference made a part
hereof, duly executed by Spring Creek Partners, LLC (the owner of the 6405 Property), Subtenant and Guarantor. 
  
 (m)  Seller shall, prior to Closing, cause to be fully executed and rush recorded in the Office of the Clerk of the Superior Court of Fulton County, a right-of-way deed from the Development Authority of Fulton County to
Fulton County, Georgia, and joined in by Seller as the holder of the Leasehold Estate under the Lease, establishing the western boundary line of the Land as being located and described along the easterly new right-of-way line of Barfield Road as
described in Exhibit “A” attached hereto and made a part hereof, and shall prior to Closing deliver to Purchaser a photocopy of such rush-recorded original showing the recording information. 
  
 (n)  Seller shall, at or prior to Closing, deliver to Purchaser evidence satisfactory to Purchaser and Title
Insurer that no drainage of surface or other water from the Real Estate across the land of others is required, or if required, that such drainage is provided for through public easements or private easements described herein as a part of the Land,
and that sanitary sewer service to the Real Estate is provided by publicly dedicated easements or rights-of-way available at the boundary line(s) of the Land, or through appurtenant private easements described herein as a part of the Land that
connect to a publicly dedicated easement or right-of-way. 
 

 12 

  
 In the event Purchaser shall terminate this Agreement as a result of the non-satisfaction of any of the
foregoing conditions (other than the failure of any such condition due to a breach or default hereunder by Purchaser or Seller, in which case the provision of Paragraphs 16 or 17, as applicable, shall control), Purchaser shall be entitled to an
immediate return of the Earnest Money from Escrow Agent and no party shall have any other rights or obligations under this Agreement, except for such rights and obligations which expressly survive the termination of this Agreement. 

 
 8.  Title and Survey.    Good and marketable record title to the Leasehold Estate shall be
conveyed by Seller to Purchaser by Assignment and Assumption of Lease Agreement, free and clear of all liens, easements, restrictions, and encumbrances whatsoever, excepting only the Permitted Exceptions. Prior to the expiration of the Inspection
Period, Purchaser shall cause an examination to be made of Seller’s title to the Leasehold Estate and Purchaser shall deliver to Seller written notice of any objections to Seller’s title to the Leasehold Estate, other than the Permitted
Exceptions, and any objections to the initial As-Built Survey delivered by Seller to Purchaser pursuant to Paragraph 10(m) hereof. In addition, Purchaser may, prior to Closing, re-examine Seller’s title to the Leasehold Estate and any revisions
to the As-Built Survey and deliver to Seller any objections, other than the Permitted Exceptions, to Seller’s title to the Leasehold Estate which are recorded subsequent to the effective date of Purchaser’s initial examination of
Seller’s title to the Leasehold Estate and/or matters of survey disclosed on any subsequent revision to the As-Built Survey. In the event either of the aforesaid title examinations shows any liens, encumbrances or defects, other than the
Permitted Exceptions, or in the event that the As-Built Survey (or any revision thereof) discloses any adverse matters of survey, Purchaser shall give written notice to Seller of any and all such defects and objections, and Seller shall then have
three (3) days after receipt of such notice of title and/or survey defects or objections from Purchaser to advise Purchaser in writing which of such title and/or survey defects or objections Seller does not intend to satisfy or cure; provided,
however, Seller hereby agrees that Seller shall satisfy or cure at or prior to Closing any such defects or objections consisting of taxes, mortgages, deeds of trust, mechanic’s or materialmen’s liens or other such monetary encumbrances
(including the Existing Loan Documents), and any title and/or survey defects or objections created by Seller in violation of this Agreement. In the event Seller fails to give such written advice to Purchaser within such three (3) day period, Seller
shall be deemed to have agreed to satisfy or cure all such defects or objections set forth in Purchaser’s notice. Seller shall have until Closing to satisfy or cure all such defects and objections which Seller agreed (or is deemed to have
agreed) to satisfy or cure as provided above. If Seller fails or refuses to cure any defects and objections which are required herein to be satisfied or cured by Seller prior to the Closing, then, at the option of Purchaser, (i) Purchaser may
terminate this Agreement by written notice to Seller and Escrow Agent, in which event the Earnest Money shall be immediately refunded to Purchaser, and Purchaser and Seller shall have no further rights, obligations or liabilities hereunder, except
for the obligations of the parties which are herein expressly stated to survive the termination of this Agreement, (ii) if any such defect or objection is one that Seller agreed (or is deemed to have agreed) to satisfy or cure as provided above,
Purchaser may cure such defect or objection, in which event the Purchase Price payable pursuant to Paragraph 3 hereof shall be reduced by an amount equal to the actual cost and expense incurred by Purchaser in connection with the curing of such
defect or objection, (iii) Purchaser may accept title to the Leasehold Estate subject to such defects and objections, or (iv) any combination of items (ii) and (iii). In the event Purchaser elects to cure any such defects and objections pursuant to
item (ii) 
 

 13 

 hereof, Purchaser at its option, upon giving notice to Seller, may extend the date of Closing until the curing of such defects or objections or
thirty (30) days from and after the previously scheduled date of Closing, whichever shall first occur. If any defect or objection shall not have been cured within such period, Purchaser may exercise its option under either item (i) or (iii) hereof.

  
 9.  Representations and Warranties of Seller.    Seller hereby makes the
following representations and warranties to Purchaser, each of which shall be deemed material: 
  
 (a)  Lease and Sublease.    The Lease and Sublease are the only leases in effect relating to the Real Estate. Seller has delivered to Purchaser a complete and accurate copy of each of the Lease
and the Sublease. Seller is the “lessee” under the Lease and has not transferred, assigned, pledged, or hypothecated its rights and interests under the Lease to any person or entity whatsoever. Seller is the “landlord” under the
Sublease and owns unencumbered legal and beneficial title to the Sublease and the rents and other income thereunder, subject only to the Existing Loan Documents, which shall be paid and cancelled at the time of the Closing. 
  
 (b)  Lease—Default.    Seller has not received any notice of termination or
default under the Lease, (ii) to the best of Seller’s knowledge, there are no existing or uncured defaults by Seller under the Lease, and (iii) to the best of Seller’s knowledge, there are no events which with passage of time or notice, or
both, would constitute a default by Seller under the Lease. 
  
 (c)  Lease—Commissions.    No rental, lease or other commissions with respect to the Lease are payable to Seller, to any partner or member of Seller, any party affiliated with or related to
Seller or any partner or member of Seller, or to any third party whatsoever. 
  
 (d)  Sublease—Assignment.    To the best of Seller’s knowledge, the Subtenant has not assigned its interest in the Sublease or sublet any portion of the premises leased to the Subtenant
under its Sublease. 
  
 (e)  Sublease—Default.    (i)
Seller has not received any notice of termination or default under the Sublease, (ii) to the best of Seller’s knowledge, there are no existing or uncured defaults by Seller, by any predecessor landlord, or by Subtenant under the Sublease, (iii)
to the best of Seller’s knowledge, there are no events which with passage of time or notice, or both, would constitute a default by Seller or by Subtenant, and Seller has complied with each and every undertak­ing, covenant, and obligation
of Seller under the Sublease, (iv) Subtenant has not asserted any defense, set–off, or counter­claim with respect to its tenancy or its obligation to pay rent, additional rent, or other charges pursuant to its Sublease, and (v) to the best
of Seller’s knowledge, Subtenant is not using its premises in violation of any restrictive covenant applicable to the Property. 
  
 (f)  Sublease—Operating Expenses and Rent.    For purposes of this subparagraph (f), the terms “Commencement Date”, “Operating Expenses”,
“Premises”, “Operating Expense Base Year”, “Building”, “Net Rental”, “Lease Year”, “Remaining Rental” and 
 

 14 

 “Base Monthly Rent” shall have the same respective meanings ascribed to such terms in the Sublease. The
Commencement Date under the Sublease occurred on November 18, 2000; the Premises are comprised of a total of at least 238,600 rentable square feet; the Operating Expenses per rentable square foot of the Premises for the first twelve (12) months of
the term of the Lease was equal to or less than $4.87; the Operating Expenses for the Operating Expense Base Year under the Sublease, as adjusted and grossed up as provided in the Sublease, were $4.87 per rentable square foot of the Building; the
total Operating Expenses for the Operating Expense Base Year under the Sublease (as adjusted and grossed up as provided in the Sublease) were equal to or less than $1,161,982.00; the total amount of taxes which are includable in Operating Expenses
(as defined in the Sublease) (“Taxes”) for the Operating Expense Base Year (as defined in the Lease) (before any adjustment thereto as provided in the Sublease) were in the amount of $37,566.50; the Net Rental annual rate under the
Sublease for the second Lease Year under the Sublease (12/01/01 through 11/30/02) is $16.5845 per square foot of rentable area; the Remaining Rental annual rate under the Sublease is $4.87 per square foot of rentable area; the total annual rate of
Base Monthly Rental for the second Lease Year under the Lease (12/01/01 through 11/30/02) is $21.4545 per square foot of rentable area; the actual fourth target Commencement Date under the Sublease (relating to the Remaining Space) is August 1,
2002; Seller has provided to Tenant the Statement(s) of Actual Adjustment (as defined in the Sublease) for calendar year 2000 (partial year) and calendar year 2001, and all adjustments required to have been made between Seller and Subtenant as a
result of each such Statement of Actual Adjustment have been made, and Subtenant has unconditionally approved each such Statement of Actual Adjustment; and Seller has paid or reimbursed to Subtenant the amount by which Subtenant’s estimated
payments to Seller for Taxes for the Operating Expense Base Year exceeded the amount of Taxes actually incurred for the Operating Expense Base Year. 
  
 (g)  Sublease—Rents and Special Consideration.    The Subtenant: (i) has not prepaid rent for more than the
current month under the Subtenant’s Sublease, (ii) except for the deferral of commencement of Monthly Base Rent with respect to the Remaining Space, is not entitled to receive any rent concession (not already taken) in connection with its
tenancy under its Sublease, (iii) is not entitled to any special work (not yet performed) or consideration (not yet given) in connection with its tenancy, and (iv) does not have any deed, option, or other evidence of any right or interest in or to
the Real Estate, except for the rights of Subtenant under Special Stipulation 8 of the Sublease relating to Tenant’s profit participation in the sale, refinancing and net cash flow of the Real Estate (which shall be satisfied in full at or
prior to the Closing) and except for such Subtenant’s tenancy as evidenced by the express terms of the Subtenant’s Sublease. 
  
 (h)  Sublease—Commissions.    Except for the balance of the leasing commission to be paid by Seller at Closing to the Leasing Agents, no rental, lease, or
other commissions with respect to the Sublease are payable to Seller, to any partner or member of Seller, any party affiliated with or related to Seller or any partner or member of Seller, or to any third party whatsoever. Except for the balance of
the leasing commission to be paid by Seller at Closing to the Leasing Agents, all commissions payable under, relating to, or as a result of the Sublease have been cashed–out and paid and satisfied in full by Seller. No further 

 15 

  
 commissions shall be due or payable as a result of the exercise by the Subtenant
under the Sublease of any right or option to extend the term of such Sublease or to expand the space leased thereunder, except as provided in the Insignia Commission Agreement, a complete and accurate copy of which has been provided by Seller to
Purchaser. 
  
 (i)  Sublease—Acceptance of Premises.    (i)
The Subtenant has accepted its leased premises located within the Real Estate (other than the Remaining Space), including any and all work performed therein or thereon pursuant to its Sublease, (ii) the Subtenant is in full and complete possession
of its premises under its Sublease (other than the Remaining Space), and (iii) Seller has not received notice from the Subtenant that such Subtenant’s premises (other than the Remaining Space) are not in full compliance with the terms and
provis­ions of such Subtenant’s Sublease or are not satis­factory for such Subten­ant’s pur­poses. Subtenant has not indicated to Seller either orally or in writing its request or its intent to terminate its Sublease prior
to the expiration of the term of such Sublease or to reduce the size of the premises leased by such Subtenant. 
  
 (j)  Guaranty.    Seller has delivered to Purchaser a complete and accurate copy of the Sublease Guaranty. Seller has never made demand upon Guarantor to pay or perform the obligations of the
Subtenant under the Sublease, and Guarantor has not asserted any defense, set-off or counterclaim with respect to its obligations under the Sublease Guaranty. 
  
 (k)  Service Contracts.    Attached hereto as Exhibit “M” and by this reference made a part hereof is
a complete and accurate list and description of all of the Service Contracts. Seller has provided Purchaser with complete and accurate copies of all Service Contracts. To the best of Seller’s knowledge, all such Service Contracts are in full
force and effect in accordance with their respective provisions, all payments required to be made by Seller or the “Owner” thereunder have been paid in full, and there is no default, or claim of default, or any event which the passage of
time or notice, or both, would constitute a default on the part of any party to any of such Service Contracts. All such Service Contracts are terminable without penalty or obligation to pay any severance or similar compensation on no more than
thirty (30) days’ notice, except as expressly set forth on Exhibit “M”. All Service Contracts are assignable by Seller to Purchaser and no Service Contract prohibits such assignment or provides for any right, claim, or cause of
action against Purchaser or the Property upon such assignment. Seller has cancelled or will cancel, effective as of the Closing, any agreement in the nature of a management agreement or service contract between Seller and any partner or member of
Seller or any party affiliated with or related to Seller or any partner or member of Seller. 
  
 (l)  Warranties and Guaranties.    Attached hereto as Exhibit “P” and by this reference made a part hereof is a complete and accurate list and description of all of the
Warranties. Within two (2) business days after the effective date of this Agreement, Seller shall provide Purchaser with complete and accurate copies of all such Warranties which are written, which are known by Seller to relate to the Real Estate
and Personal Property and which are in the possession or control of Seller. 
 

 16 

  
 (m)  No Other
Agreements.    Other than the Lease, the Sublease, the Service Contracts, the Existing Loan Documents, the Permitted Exceptions, the Series 2000A Bonds, the Bond Purchase Agreement, the Payment and Indemnity Agreement, and
the Home Office Payment Agreement, there are no leases, service contracts, management agreements, or other agreements or instruments in force and effect, oral or written, that grant to any person whomsoever or any entity whatsoever any right, title,
interest or benefit in or to all or any part of the Property, any rights to acquire all or any part of the Property or any rights relating to the use, operation, management, maintenance, or repair of all or any part of the Real Estate. 

 
 (n)  No Litigation.    Except as disclosed on Exhibit “Q”
attached hereto and by this reference made a part hereof, there are no actions, suits, or proceedings pending, or to the best of Seller’s knowledge threatened by any organization, person, individual, or governmental agency against Seller with
respect to the Property or against the Property, nor does Seller know of any basis for such action. Seller also has no knowledge of any pending or threatened application for changes in the zoning applicable to the Real Estate or any portion thereof.

  
 (o)  Condemnation.    Except as provided in the second
paragraph of Paragraph 18 hereof, no condemnation or other taking by eminent domain of the Real Estate or any portion thereof has been instituted and, to the best of Seller’s knowledge, there are no pending or threatened condemnation or eminent
domain proceedings (or proceedings in the nature or in lieu thereof) affecting the Real Estate or any portion thereof or its use. 
  
 (p)  Proceedings Affecting Access.    Except as provided in the second paragraph of Paragraph 18 hereof, there are no pending or, to the best of Seller’s
knowledge, threatened proceedings that could have the effect of impairing or restricting access between the Real Estate and adjacent public roads. 
  
 (q)  Declaration of Restrictive Covenants.    The Improvements located on the Land comply with the requirements of
Paragraphs 2, 4 and 5 of Exhibit “E” attached to that certain Declaration of Restrictive Covenants by Seller and Spring Creek Partners, LLC in favor of Autumn Chase Homeowner’s Association, Inc., dated June 1, 2000, recorded in Deed
Book 29747, Page 219, Fulton County, Georgia records, and Seller has fully complied with the covenants set forth in Paragraph 5(a) of Exhibit “E” attached to such Declaration of Restrictive Covenants. 
  
 (r)  No Assessments.    No assessments have been made against the Real Estate that
are unpaid, whether or not they have become liens, and no impact fees or similar charges or sums are payable as result of the construction of the Improvements. If the Real Estate, or any part thereof, shall be, or shall have been affected by an
assessment or assessments, made on or before the date of Closing, and that are, or may become payable in installments, and if the payment of all of such installments are not the unconditional obligation of the Subtenant under the Sublease, then for
the purposes of this Agreement all of the unpaid installments of any such assessments, the payment of which are not the 
 

 17 

  
 unconditional obligation of the Subtenant under the Sublease, including those
that are to become due and payable after the Closing, shall be deemed to be due and payable immediately and shall be paid and discharged in full by Seller at the Closing. 
  
 (s)  Conditions of Improvements.    Seller is not aware of any structural or other defects, latent or otherwise, in the
Improvements. The heating, ventilating, air conditioning, electrical, plumbing, water, elevator, roofing, storm drainage and sanitary sewer systems at or servicing the Real Estate are, to the best of Seller’s knowledge, in good condition and
working order and Seller, or Seller’s employees or agents, are not aware of any defects or deficiencies, latent or otherwise, therein. 
  
 (t)  Certificates.    There are presently in effect permanent certificates of occupancy, licenses, and permits as may be required for the Real Estate (except for
the Remaining Space), and the present use and occupation of the Real Estate is in compliance and conformity with the certificates of occupancy and all licenses and permits (other than the Remaining Space as to which no certificate of occupancy has
been issued as of the Effective Date). Within two (2) business days after the effective date of this Agreement, Seller shall provide Purchaser with complete and accurate copies of all such Certificates of Occupancy, licenses and permits which are
known by Seller to relate to the Real Estate and which are in the possession or control of Seller. There has been no notice or request of any municipal department, insurance company or board of fire underwriters (or organization exercising functions
similar thereto), or mortgagee directed to Seller and requesting the performance of any work or alteration in respect to the Real Estate which has not been complied with. 
  
 (u)  Compliance With Governmental Requirements.    To the best of Seller’s knowledge, there are no violations of
law, municipal or county ordinances, or other legal requirements with respect to the Real Estate, and the Improvements comply with all applicable legal requirements with respect to the use, occupancy, and construction thereof, including the
Americans with Disabilities Act. The Real Estate is currently zoned in a classification such as will permit the operation of the Real Estate as an office building and associated parking and the conditions, if any, to the granting of the zoning of
the Real Estate have been satisfied. 
  
 (v)  Survey.    Seller
has heretofore delivered to Purchaser the most current “as-built” survey of the Real Estate in the possession or control of Seller. 
  
 (w)  Initial Utility Charges.    All installation and connection charges for utilities serving the Property have been paid in full. 
  
 (x)  No Liens.    All contractors, subcontrac­tors, and other persons or entities
furnishing work, labor, materials, or supplies by or at the instance of Seller for the Property have been paid in full and, other than routine ongoing charges pursuant to the Service Contracts, there are no claims against the Property or Seller in
connection therewith. 
 

 18 

  
 (y)  No Liens Upon Building Service
Equipment.    None of the fixtures, equipment, apparatus, fittings, machinery, appli­ances, furniture, furnishings, and articles of personal property attached or appurtenant to, or used in connection with the occupation
or operation of, all or any part of the Real Estate are leased by Seller from third parties (except for any of same as are leased by Seller from Issuer under the Lease), and all of same which are owned by Seller or leased by Seller under the Lease,
including the Personal Property, are free of any and all liens, encumbrances, charges, or adverse interests, except for the security interest granted to First Union National Bank under the Existing Loan Documents, which security interest shall be
terminated at the time of the Closing. 
  
 (z)  Employees.    There are no employment, collective bargaining, or similar agreements or arrangements between Seller and any of its employees or others which will be binding on Purchaser or any
of Purchaser’s successors in title. 
  
 (aa)  Bankruptcy.    Seller is solvent and has not made a general assignment for the benefit of creditors nor been adjudicated a bankrupt or insolvent, nor has a receiver, liquidator, or trustee
for any of Seller’s properties (including the Property) been appointed or a petition filed by or against Seller for bankruptcy, reorganization, or arrangement pursuant to the Federal Bankruptcy Act or any similar Federal or state statute, or
any proceeding instituted for the dissolution or liquidation of Seller. 
  
 (bb)  Authorization.    Seller is a duly organized and validly existing limited liability company under the laws of the State of Georgia. This Agreement has been duly authorized and executed on
behalf of Seller, all necessary action on the part of Seller to authorize the transactions herein contemplated has been taken, and no further action is necessary for such purpose, and this Agreement constitutes the valid and binding agreement of
Seller, enforceable in accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting generally the enforcement of creditor’s rights. Neither the execution and delivery of this Agreement nor the consummation of the
transaction contemplated hereby will (i) be in violation of Seller’s Articles of Organization or Operating Agreement, (ii) conflict with or result in the breach or violation of any law, regulation, writ, injunction or decree of any court or
governmental instrumentality applicable to Seller, or (iii) constitute a breach of any evidence of indebtedness or agreement of which Seller is a party or by which Seller is bound (provided that the indebtedness secured by the Existing Loan
Documents shall be paid in full by Seller at Closing). 
  
 (cc)  Seller Not a Foreign
Person.    Seller is not a “foreign person” which would subject Purchaser to the withholding tax provisions of Section 1445 of the Internal Revenue Code of 1986, as amended. 
  
 At Closing, Seller shall represent and warrant to Purchaser that all such representations and warranties of Seller in this Agreement remain true and correct as
of the date of the Closing, except for any changes in any such representations or warranties that occur and are disclosed by Seller to Purchaser expressly and in writing at any time and from time to time prior to Closing upon their occurrence, which
disclosures shall thereafter be updated by Seller to the date of Closing. Each and 
 

 19 

 all of the express representations, warranties and covenants made and given by Seller to Purchaser in this Paragraph 9 shall survive the Closing
for a period of one (1) year thereafter, except to the extent that a notice of breach of any representation, warranty or covenant has been given prior to such expiration. If there is any change in any representations or warranties and Seller does
not cure or correct such changes prior to Closing, then Purchaser may, at Purchaser’s option, (i) close and consummate the transaction contemplated by this Agreement, except that after such closing and consummation Purchaser shall have the
right to seek monetary damages from Seller only with respect to any such changes which are willfully caused by Seller or any such representations or warranties which are willfully breached by Seller, or (ii) terminate this Agreement by written
notice to Seller, whereupon the Earnest Money shall be immediately returned to Purchaser, and thereafter the parties hereto shall have no further rights or obligations hereunder, except only (1) for such rights or obligations that, by the express
terms hereof, survive any termination of this Agreement and (2) that Purchaser shall have the right to seek monetary damages from Seller only with respect to any changes in such representations and warranties which are willfully caused by Seller or
any such representations and warranties which are willfully breached by Seller. 
  
 Except as otherwise expressly
provided in this Agreement or in any documents to be executed and delivered by Seller to Purchaser at the Closing, Seller has not made, and Purchaser has not relied on, any representation or warranty, express or implied, regarding the Real Estate,
whether made by Seller, on Seller’s behalf or otherwise. Purchaser acknowledges (i) that Purchaser has entered into this Agreement with the intention of making and relying upon its own investigation or that of Purchaser’s own consultants
and representatives with respect to the physical, environmental, and economic condition of the Real Estate and (ii) that Purchaser is not relying upon any statements, representations or warranties of any kind, other than those specifically set forth
in this Agreement or in any document to be executed and delivered by Seller to Purchaser at the Closing, made (or purported to be made) by Seller or anyone acting or claiming to act on Seller’s behalf. Purchaser shall be provided the right and
opportunity to inspect the Real Estate and, subject to the terms and conditions of this Agreement, shall purchase the Leasehold Estate with respect to the Real Estate in the Real Estate’s “as is” condition, “with all
faults”. 
  
 10.  Seller’s Additional Covenants.    Seller does hereby
further covenant and agree as follows: 
  
 (a)  Operation of
Property.    Seller hereby covenants that, from the date of this Agreement up to and including the date of Closing, Seller shall: (i) not negotiate with any third party respecting the sale of the Property or any interest
therein, (ii) not modify, amend, or terminate the Lease or the Sublease or enter into any new lease, contract, or other agreement respecting the Property, unless Seller obtains the prior written consent to same from Purchaser, which consent shall
not be unreasonably withheld, (iii) not waive any rights of Seller under the Lease, the Sublease, the Sublease Guaranty, the Series 2000A Bonds, the Bond Purchase Agreement, the Payment and Indemnity Agreement, any Service Contract or any Permitted
Exceptions, (iv) not grant or otherwise create or consent to the creation of any easement, restriction, lien, assessment, or encumbrance respecting the Property without the prior written consent of Purchaser, and (v) cause the Real Estate to be
operated, maintained, and repaired in the same manner as the Real Estate is currently being operated, maintained, 
 

 20 

 and repaired. Purchaser hereby consents to Seller amending the Lease pursuant to the Fifth Amendment to Lease Agreement
in the form attached hereto as Exhibit “F” and by reference made a part hereof. Purchaser also consents to the execution and recordation of the Boundary Line Agreement, the Reciprocal Easement Agreement and Second Lease Amendment
once the form of each of same has been approved by Seller and Purchaser as provided herein. 
  
 (b)  Removal of Personal Property.    Seller shall neither transfer nor remove any Personal Property or any fixtures owned or leased by Seller from the Real Estate after the date of this Agreement
except for the purposes of replacement thereof, in which case such replacements shall be promptly installed and shall be comparable in quality to the items being replaced. 
  
 (c)  Preservation of Sublease.    Seller shall, from and after the date of this Agreement to the date of Closing, use
its best efforts to perform and discharge all of the duties and obligations and shall otherwise comply with every covenant and agreement of the landlord under the Sublease, at Seller’s expense, in the manner and within the time limits required
thereunder. Furthermore, Seller shall, for the same period of time, use diligent and good faith efforts to cause the Subtenant under the Sublease to perform all of its duties and obligations and otherwise comply with each and every one of its
covenants and agreements under such Sublease and shall take such actions as are reasonably necessary to enforce the terms and provisions of such Sublease. Seller hereby agrees that from and after full execution of this Agreement, Seller shall not
request, authorize or direct First Union National Bank to draw on or negotiate the Letter of Credit issued by Wachovia Bank, N.A. and held by First Union National Bank under the Sublease. 
  
 (d)  Insurance.    From and after the date of this Agreement to the date and time of Closing, Seller shall, at its
expense, continue to maintain the same special form/”all-risk” insurance covering the Real Estate and Personal Property which is currently in force and effect. 
  
 (e)  Estoppel Certificates.    Seller agrees to use reasonable and diligent efforts in good faith to obtain and deliver
to Purchaser the Subtenant Estoppel Certificate and the Guarantor Estoppel Certificate duly executed by the applicable signatories thereof and certifying as to the matters set forth in the forms of such estoppel certificates attached to this
Agreement. The failure of Seller to obtain the Subtenant Estoppel Certificate after Seller shall use reasonable and diligent efforts in good faith to obtain same shall not constitute a default by Seller under this Agreement. 
  
 (f)  Boundary Line Agreement and Second Lease Amendment.    Seller agrees to use
reasonable and diligent efforts in good faith to obtain and record prior to Closing the Boundary Line Agreement and the Second Lease Amendment, duly executed by the applicable signatories thereof. 
 

 21 

  
 (g)  Amendment to
Sublease.    Seller agrees to use reasonable and diligent efforts in good faith to obtain an amendment to the Sublease substantially in the form attached hereto as Exhibit “F” and by reference made a part
hereof (i.e., the Fifth Sublease Amendment), duly executed by Seller, Subtenant and Guarantor. The failure of Seller to obtain the Fifth Sublease Amendment after Seller shall use reasonable and diligent efforts in good faith to obtain same shall not
constitute a default by Seller under this Agreement. 
  
 (h)  Amendment to Agreement
Regarding Letter of Credit.    Seller agrees to use reasonable and diligent efforts in good faith to obtain an amendment to and restatement of the Agreement Regarding Letter of Credit substantially in the form of the
Assignment, Assumption, Amendment and Restatement of Agreement Regarding Letter of Credit attached hereto as Exhibit “W” and by reference made a part hereof, duly executed by Seller, Subtenant and Guarantor. The failure of Seller to
obtain such amendment and restatement of the Agreement Regarding Letter of Credit after Seller shall use reasonable and diligent efforts in good faith to obtain same shall not constitute a default by Seller under this Agreement. 

 
 (i)  Project Architect Certificate.    Seller agrees to use reasonable and
diligent efforts in good faith to obtain and deliver to Purchaser the Project Architect Certificate duly executed by the Architect and certifying to the matters set forth in the form attached hereto as Exhibit “I” and by reference
made a part hereof. The failure of Seller to obtain the Project Architect Certificate after Seller shall use reasonable and diligent efforts in good faith to obtain same shall not constitute a default by Seller under this Agreement. 

 
 (j)  Amendment to Insignia Commission Agreement.    Seller agrees to use
reasonable and diligent efforts in good faith to obtain an amendment to the Insignia Commission Agreement which shall provide for the deletion of Paragraph 1(B) of the Insignia Commission Agreement. The failure of Seller to obtain such amendment of
the Insignia Commission Agreement after Seller shall use reasonable and diligent efforts in good faith to obtain same shall not constitute a default by Seller under this Agreement. 
  
 (k)  Amendment to Building 3 Lease.    Seller agrees to use reasonable and diligent efforts in good faith to obtain an
amendment to the Building 3 Lease in the form attached hereto as Exhibit “CC” and by reference made a part hereof. The failure of Seller to obtain the signatures of Subtenant and Guarantor on such amendment to the Building 3 Lease
after Seller shall use reasonable and diligent efforts in good faith to obtain same shall not constitute a default by Seller under this Agreement. 
  
 (l)  Cooperation with Purchaser’s Auditors and SEC Filing Requirements.    Seller shall provide to Purchaser (at
Purchaser’s expense) copies of, or shall provide Purchaser access to, such factual information as may be reasonably requested by Purchaser, and in the possession or control of Seller, or its property manager or accountants, to enable Purchaser
(or Wells Operating Partnership, L.P. or Wells Real Estate Investment Trust, Inc.) to file its or their Form 8-K, if, as and when such filing may be required by the Securities and Exchange Commission (“SEC”). At Purchaser’s sole cost
and expense, Seller shall 
 

 22 

 allow Purchaser’s auditor (Arthur Andersen LLP or any successor auditor selected by Purchaser) to conduct an audit
of the income statements of the Property for 2000 (partial year), 2001 and 2002 (to the date of Closing), and shall cooperate (at no cost to Seller) with Purchaser’s auditor in the conduct of such audit. In addition, Seller agrees to provide to
Purchaser’s auditor a letter of representation in the form attached hereto as Exhibit “DD” and by this reference made a part hereof (the “Representation Letter”), and, if requested by such auditor, historical
financial statements for the Property, including income and balance sheet data for the Property, whether required before or after Closing. Without limiting the foregoing, (i) Purchaser or its designated independent or other auditor may audit
Seller’s operating statements of the Property, at Purchaser’s expense; and Seller shall provide such documentation as Purchaser or its auditor may reasonably request in order to complete such audit, and (ii) Seller shall furnish to
Purchaser such financial and other information as may be reasonably required by Purchaser to make any required filings with the SEC or other governmental authority; provided, however, that the foregoing obligations of Seller shall be limited to
providing such information or documentation as may be in the possession of, or reasonably obtainable by, Seller, its property manager or accountants, at no cost to Seller, and in the format that Seller (or its property manager or accountants) have
maintained such information. 
  
 (m)  As–Built
Survey.    Seller agrees to obtain at Seller’s cost and deliver to Purchaser, within fifteen (15) days after the date hereof, an as-built survey of the Real Estate (the “As-Built Survey”) of the Real Estate,
complying with the Survey Requirements, prepared for and certified to Purchaser and the Title Company by a registered land surveyor approved by Purchaser, which approval shall not be unreasonably withheld. The As-Built Survey shall be dated not
earlier than one (1) month prior to the Closing. Seller shall cause the surveyor to prepare the As-Built Survey in compliance with the Survey Requirements. 
  
 (n)  Public Sewer Service and Off-Site Drainage Rights.    Seller agrees to use reasonable and diligent efforts in good
faith to obtain and deliver to Purchaser at least two (2) business days prior to the expiration of the Inspection Period, evidence that no drainage of surface or other water from the Real Estate across the land of others is required, or if required,
that such drainage is provided for through public easements or private easements appurtenant to the Land, and that sanitary sewer service to the Real Estate is provided by publicly dedicated easements or rights-of-way available at the boundary
line(s) of the Land, or through private easements appurtenant to the Land that connect to a publicly dedicated easement or right-of-way. 
  
 11.  Closing.    Provided that all of the conditions set forth in this Agreement are theretofore fully satisfied or performed, it being fully understood and agreed, however, that
Purchaser may waive expressly and in writing, at or prior to Closing, any conditions that are unsatisfied or unperformed at such time, the consummation of the sale by Seller and purchase by Purchaser of the Property (herein referred to as the
“Closing”) shall be held on or before the date which is fifteen (15) days after the expiration of the Inspection Period, at an office in Atlanta, Georgia at such specific office, and at such specific time and date as shall be designated by
Purchaser in a written notice to Seller not less than three (3) business days prior to Closing. In the 
 

 23 

 event Purchaser fails to give such notice of the time, date and place of Closing, the Closing shall occur at 1:30 p.m. on the last date for such
Closing as provided above, at the office of Troutman Sanders LLP, 600 Peachtree Street, N.E., Suite 5200, Atlanta, Georgia 30308. 
  
 12.  Seller’s Closing Documents.    For and in consideration of, and as a condition precedent to Purchaser’s delivery to Seller of the Purchase Price described in Paragraph 3 hereof,
Seller shall obtain or execute, at Seller’s expense, and deliver to Purchaser at Closing the following documents (all of which shall be duly executed, acknowledged, and notarized where required and shall survive the Closing): 

 
 (a)  Assignment and Assumption of Lease.    An Assignment and Assumption
of Lease in the form and substance of Exhibit “R” attached hereto and by this reference made a part hereof conveying to Purchaser marketable title to the Leasehold Estate, together with all rights, members, easements, and
appurtenances thereof, subject only to the Permitted Exceptions; 
  
 (b)  Quitclaim
Deed.    A Quitclaim Deed releasing and quitclaiming to Purchaser all of Seller’s right, title and interest in and to the Real Estate. In the event Purchaser obtains a new or updated survey of the Real Estate, the
Quitclaim Deed shall contain a legal description based upon such survey obtained by Purchaser; 
  
 (c)  Bill of Sale.    A Bill of Sale conveying to Purchaser marketable title to the Personal Property in the form and substance of Exhibit “S” attached hereto and by this
reference made a part hereof; 
  
 (d)  Blanket Transfer.    A
Blanket Transfer and Assignment in the form and substance of Exhibit “T” attached hereto and by this reference made a part hereof; 
  
 (e)  Assignment and Assumption of Sublease.    An Assignment and Assumption of Sublease in the form and substance of
Exhibit “U” attached hereto and by this reference made a part hereof, assigning to Purchaser all of Seller’s right, title, and interest in and to the Sublease and the Fifth Sublease Amendment and the rents thereunder;

  
 (f)  Letter of Credit.    The original Letter of Credit
deposited by Subtenant with First Union National Bank, as the beneficiary thereunder, together with the Assignment of Letter of Credit in the form and substance of Exhibit “V” attached hereto and by this reference made a part
hereof, executed by both Seller and First Union National Bank; 
  
 (g)  Amended and
Restated Agreement Regarding Letter of Credit.    An Assignment, Assumption, Amendment and Restatement of Agreement Regarding Letter of Credit among Seller, Subtenant and Purchaser in the form and substance of Exhibit
“W” attached hereto and made a part hereof, executed by Seller and Subtenant; 
 

 24 

  
 (h)  Seller’s
Certificate.    A certificate evidencing the reaffirmation of the truth and accuracy of Seller’s representations, warranties, and agreements set forth in Paragraphs 9 and 20 hereof; 
  
 (i)  Seller’s Affidavit.    A customary Seller’s Affidavit in the form of
Exhibit “X” attached hereto and by this reference made a part hereof; 
  
 (j)  FIRPTA Certificate.    A FIRPTA Affidavit in the form and substance of Exhibit “Y” attached hereto and by this reference made a part hereof; 
  
 (k)  Assignment of Bonds.    An Assignment of Series 2000A Bonds in the form and
substance of Exhibit “Z” attached hereto and by this reference made a part hereof, assigning to Purchaser the Series 2000A Bonds executed by Seller and with Seller’s signature guaranteed by an institution which is a participant
in the Securities Transfer Agent Medallion Program; 
  
 (l)  Assignment of Bond
Documents.    An Assignment of Bond Documents in the form and substance of Exhibit “AA” attached hereto and by this reference made a part hereof assigning to Purchaser all of Seller’s right, title and
interest in and to the Bond Purchase Agreement, the Payment and Indemnity Agreement, and the Home Office Payment Agreement; 
  
 (m)  Bond Transfer Opinion.    The Bond Transfer Opinion in the form required by the trustee under the Indenture; 
  
 (n)  Replacement Series 2000A Bond(s).    A replacement Series 2000A Bond or Bonds
issued by the Issuer in the name of Purchaser in the aggregate amount of $32,500,000; 
  
 (o)  Construction Management Agreement.    If required under Paragraph 4 hereof, a Construction Management Agreement between Seller and Purchaser as contemplated under Paragraph 4 hereof and in
form and substance as mutually agreed upon by Seller and Purchaser prior to the expiration of the Inspection Period; 
  
 (p)  Tenant Improvement Escrow Agreement.    If required under Paragraph 4 hereof, a Tenant Improvement Escrow Agreement among Seller, Purchaser and Title Company as contemplated pursuant
to Paragraph 4 hereof, in form and substance as mutually agreed by Seller and Purchaser prior to the expiration of the Inspection Period, and executed by Seller and the Title Company; 
  
 (q)  Surveys and Plans.    Such surveys, site plans, plans and specifications, and other matters relating to the
Property as are described in subparagraph (a) of the Blanket Transfer and Assignment and are in the possession or control of Seller; 
 

 25 

  
 (r)  Certificates of
Occupancy.    Original Certificates of Occupancy for all space within the Improvements, to the extent same are in the possession or control of Seller; 
  
 (s)  Original Documents.    The original executed counterpart(s) of the Lease, the Sublease, the Sublease Guaranty, the
Series 2000A Bonds, the Bond Purchase Agreement, and the Payment and Indemnity Agreement in the possession or control of Seller; 
  
 (t)  Service Contracts.    An original executed counterpart of each Service Contract; 
  
 (u)  Estoppel Certificates.    The Subtenant Estoppel Certificate and the Guarantor Estoppel Certificate referred to in
Paragraphs 7(e) and 7(f) hereof, if not previously delivered to Purchaser; 
  
 (v)  Operating Expense Statements.    Statements, certified to be complete and accurate by Seller, of operating expenses and other financial and expense information required in order to compute
any escalations of and adjustments in rent, additional rent, operating expenses, taxes, and other charges under the Sublease for 2001 and for the period of Seller’s ownership during 2002; 
  

(w)  Limited Liability Company Resolution.    Either (i) a copy of a resolution of the Members of Seller,
certified by an appropriate officer or manager of Seller to be in force and un­modified as of the date and time of Closing, authorizing the execution and delivery of documents required hereunder, and designating and guaranteeing the signatures
of the officers or managers of Seller who are to execute and deliver all such documents on behalf of Seller or (ii) such other evidence of the power and authority of the particular signing officer, manager or member of Seller to execute and deliver
all such documents on behalf of and so as to bind Seller as shall be reasonably required by the Title Company; 
  
 (x)  Keys and Records.    All of the keys or access cards to any doors or locks on the Property and the original tenant files and other books and records relating to the Property in Seller’s
possession or control; 
  
 (y)  Sale Notices.    Notices from
Seller and Purchaser to the Issuer, Trustee and Subtenant of the sale of the Property to Purchaser in such forms as Purchaser shall reasonably approve; 
  
 (z)  Termite Report.    A certificate of treatment and written report from a reputable exterminating company specifying
that the Improvements have been treated and are free and clear of termites and other wood destroying organisms and damage from same; 
  
 (aa)  Settlement Statement.    A settlement statement setting forth the amounts paid by or on behalf of and/or credited to each of Purchaser and Seller pursuant to
this Agreement; and 
 

 26 

  
 (bb)  Other
Documents.    Such other documents as shall be reasonably required by Purchaser’s counsel or the Title Company and sufficient to cause the Title Company to issue an ALTA leasehold owner’s title insurance policy to
Purchaser (i) subject only to the Permitted Exceptions and without exception for any standard exception for mechanics’ or materialmen’s liens (whether choate or inchoate), or the lien rights (whether choate or inchoate of any person
pursuant to the Georgia Commercial Real Estate Broker Lien Act, O.C.G.A. § § 44-14-600 et seq., and (ii) including such endorsements as Purchaser may desire, including, without limitation, a Zoning 3.1 endorsement (plus parking), a
comprehensive endorsement and such other affirmative coverage as Purchaser may elect to obtain. 
  
 13.  Purchaser’s Closing Documents.    Purchaser shall obtain or execute, at Purchaser’s expense, and deliver to Seller at Closing the following documents, all of which shall be duly
executed and acknowledged where required and shall survive the Closing: 
  
 (a)  Assignment and Assumption of Lease.    The Assignment and Assumption of Lease in the form and substance of Exhibit “R” attached hereto; 
  
 (b)  Blanket Transfer.    A Blanket Transfer and Assignment in the form and substance
of Exhibit “T” attached hereto; 
  
 (c)  Assignment and Assumption of
Sublease.    The Assignment and Assumption of Sublease in the form and substance of Exhibit “U” attached hereto; 
  
 (d)  Assignment of Bond Documents.    The Assignment of Bond Documents in the form and substance of Exhibit
“AA” attached hereto; 
  
 (e)  Assignment of Letter of
Credit.    The Assignment of Letter of Credit in the form and substance of Exhibit “V” attached hereto; 
  
 (f)  Sale Notices.    Notices from Seller and Purchaser to the Issuer, Trustee and Subtenant of the sale of the Property to Purchaser; 
  
 (g)  Amended and Restated Agreement Regarding Letter of Credit.    The Assignment,
Assumption, Amendment and Restatement of Agreement Regarding Letter of Credit in the form and substance of Exhibit “W” attached hereto; 
  
 (h)  Home Office Payment Agreement.    A Home Office Payment Agreement among the Trustee under the Indenture, the
Issuer and Purchaser in its capacities as the purchaser of the Series 2000A Bonds and as the successor lessee under the Lease; 
  
 (i)  Construction Management Agreement.    If required under Paragraph 4 hereof, the Construction Management Agreement contemplated under Paragraph 4 hereof;

 

 27 

  
 (j)  Tenant Improvement Escrow
Agreement.    If required under Paragraph 4 hereof, the Tenant Improvement Escrow Agreement contemplated under Paragraph 4 hereof; 
  
 (k)  Settlement Statement.    A settlement statement setting forth the amounts paid by or on behalf of and/or credited
to each of Purchaser and Seller pursuant to this Agreement; 
  
 (l)  Other
Documents.    Such other documents as shall be reasonably required by Seller’s counsel. 
  
 14.  Closing Costs.    Seller shall pay the cost of the transfer tax imposed by the State of Georgia upon the conveyance of the Property pursuant hereto, any transfer fee or documentation charge
imposed by the Issuer and the Trustee, the attorneys’ fees of Seller, the attorneys’ fee of the Issuer and the Trustee (if any), and all other costs and expenses incurred by Seller in closing and consummating the purchase and sale of the
Property pursuant hereto. Purchaser shall pay the cost of the examination of title to the Property, the premium for any leasehold owner’s policy of title insurance obtained by Purchaser, the recording fees on the Assignment and Assumption of
Lease and Quitclaim Deed from Seller to Purchaser to be recorded in connection with this transaction, the attorneys’ fees of Purchaser, and all other costs and expenses incurred by Purchaser in closing and consummating the purchase and sale of
the Property pursuant hereto. All other expenses relating to this transaction shall be allocated in the manner customary for commercial transactions in Atlanta, Georgia. 
  
 15.  Prorations.  The following items shall be prorated and/or credited between Seller and Purchaser as of Midnight preceding the date of
Closing: 
  
 (a)  Rents.    Rents, additional rents, operating
costs, and other income of the Property (other than security deposits) collected by Seller from the Subtenant for the month of Closing. Purchaser shall also receive a credit against the Purchase Price payable by Purchaser to Seller at Closing for
any rents or other sums (not including security deposits) prepaid by the Subtenant for any period following the month of Closing, or otherwise. In addition to the foregoing, at Closing, Seller shall pay as an expense the Estimated Remaining Space
Rent Credit (which expense shall be subject to adjustment as provided in Paragraph 15(f) below). Purchaser shall also receive a credit at Closing for the total sum of all security deposits paid by the Subtenant under the Sublease and not theretofore
applied to delinquent rent and other charges payable by the Subtenant. Seller hereby acknowledges that Purchaser shall not be legally responsible to Seller for the collection of any uncollected rent or other income under the Sublease that is past
due or otherwise due and payable as of the date of Closing. Purchaser agrees that if (i) Subtenant is in arrears on the date of Closing in the payment of rent or other charges under such Subtenant’s Sublease, and (ii) upon Purchaser’s
receipt of any rental or other payment from the Subtenant, such Subtenant is, or after application of a portion of such payment will be, current under such Lease in the payment of all accrued rental and other charges that become due and payable on
the date of Closing or thereafter and in the payment of any other obligations of the Subtenant to 
 

 28 

 Purchaser, then Purchaser shall refund to Seller, out of and to the extent of the portion of such payment remaining after
Purchaser deducts therefrom any and all sums due and owing it from the Subtenant from and after the date of Closing, an amount up to the full amount of any arrearage existing on the date of Closing. 
  
 (b)  Real Estate Taxes.    City, state, county, and school district ad valorem taxes
based on the ad valorem tax bills for the Real Estate, if then available, or if not, then on the basis of the latest available tax figures and information. Should such proration be based on such latest available tax figures and information and prove
to be inaccurate on receipt of the ad valorem tax bills for the Real Estate for the year of Closing, either Seller or Purchaser, as the case may be, may demand at any time after Closing a payment from the other correcting such malapportionment. In
addition, if after Closing there is an adjustment or reassessment by any governmental authority with respect to, or affecting, any ad valorem taxes for the Real Estate for the year of Closing or any prior year, any additional tax payment for the
Real Estate required to be paid with respect the year of Closing shall be prorated between Purchaser and Seller and any such additional tax payment for the Real Estate for any year prior to the year of Closing shall be paid by Seller. 

 
 (c)  Utility Charges.    Except for utilities which are the direct
responsibility of the Subtenant to the applicable public or private utilities supplier, Seller shall pay all utility bills received prior to Closing and shall be responsible for utilities furnished to the Real Estate prior to Closing. Purchaser
shall be responsible for the payment of all bills for utilities furnished to the Real Estate subsequent to the Closing. Seller and Purchaser hereby agree to prorate as of midnight preceding the date of Closing and pay their respective shares of all
utility bills received subsequent to Closing (if they include a service period prior to the date of Closing), which agreement shall survive Closing. Seller shall be entitled to all deposits presently in effect with the utility providers.

  
 (d)  Service Contracts.    Charges under the Service
Contracts shall be prorated as of Midnight preceding the date of Closing. 
  
 (e)  Other
Subtenant Charges.    Where the Sublease contains Subtenant obligations for taxes, common area expenses, operating expenses or additional charges of any nature, and where Seller shall have collected on an estimated basis any
portion thereof in excess of amounts actually payable by Subtenant for such items for the period prior to the date of Closing, then there shall be an adjustment and credit given to Purchaser on the date of Closing for such excess amounts collected.
Purchaser shall apply all such excess amounts to the charges owed by Purchaser for such items for the period after the date of Closing, and if required by the Sublease, shall rebate or credit Subtenant with any remainder. If it is determined
subsequent to the Closing that the amount collected during Seller’s ownership period exceeded expenses incurred during the same period by more than the amount previously credited to Purchaser at Closing, then Seller shall promptly pay to
Purchaser the deficiency. If it is determined subsequent to Closing that the amount collected during Seller’s ownership period exceeded expenses incurred during the same 
 

 29 

 period by less than the amount previously credited to Purchaser at Closing, then Purchaser shall promptly pay to Seller
the overpayment. 
  
 (f)  Remaining Space Rent Credit.    Within
one hundred twenty (120) days after the end of calendar year 2002, Purchaser shall deliver to Seller and Subtenant (i) the “Statement of Actual Adjustment” as required by Section 8 of the Sublease, and (ii) a calculation (including a
reasonably detailed explanation thereof) of the Actual Remaining Space Rent Credit taking into account all of the applicable provisions of the Sublease. In the event the Actual Remaining Space Rent Credit shall exceed the Estimated Remaining Space
Rent Credit, then Seller shall pay the difference to Purchaser within fifteen (15) Business Days after Seller’s receipt of such calculation; and in the event that the Actual Remaining Space Rent Credit shall be less than the Estimated Remaining
Space Rent Credit, then Purchaser shall promptly pay the difference to Seller within three (3) Business Days after Seller’s receipt of such calculation. Purchaser hereby agrees not to modify the Sublease in any manner that would delay the
commencement date for full Base Monthly Rental under the Sublease. In the event Purchaser shall receive any Base Monthly Rental from Subtenant with respect to the Remaining Space attributable to the period from the date of Closing to July 31, 2002,
Purchaser shall promptly remit such amount to Seller. 
  
 The obligations of the parties under this Paragraph 15
shall survive the Closing. 
  
 16.  Purchaser’s Default.    In the event of
default by Purchaser under the terms of this Agreement, Seller’s sole and exclusive remedy shall be to terminate this Agreement and receive the Earnest Money from Escrow Agent as liquidated damages and thereafter the parties hereto shall have
no further rights or obligations hereunder whatsoever. It is hereby agreed that Seller’s damages will be difficult to ascertain and that the Earnest Money constitutes a reasonable liquidation thereof and is intended not as a penalty, but as
fully liquidated damages. Seller agrees that in the event of a default by Purchaser, it shall not initiate any proceeding to recover damages from Purchaser, but shall limit its recovery to the receipt and retention of the Earnest Money. The
limitations on Purchaser’s liability under this Paragraph 16 shall be inapplicable to the liability of Purchaser for payments, if any, due by Purchaser to Seller under Paragraph 5 hereof. 
  

17.  Seller’s Default.    In the event of default by Seller under the terms of this Agreement, except as otherwise
specifically set forth herein, at Purchaser’s option: (i) Purchaser shall be entitled to an immediate refund of all but Twenty-Five Dollars ($25.00) of the Earnest Money and to pursue against Seller an action for specific performance, or (ii)
Purchaser may terminate this Agreement by written notice to Seller, whereupon the Earnest Money shall be immediately returned by Escrow Agent to Purchaser and Seller shall be responsible for, and Purchaser shall be entitled to seek, actual damages
from Seller up to a maximum of $500,000.00; provided, however, the foregoing cap or limitation on actual damages shall not be applicable if Seller knowingly and intentionally breaches any covenant to be performed or any representation or warranty
made by Seller under this Agreement or knowingly and intentionally does anything to make impossible or defeat the remedy of specific performance. 
  
 

 30 

  
 18.  Condemnation.    If, after the
Effective Date and prior to the Closing, all or any part of the Real Estate is subjected to a bona fide threat of condemnation by a body having the power of eminent domain or is taken by eminent domain or condemnation (or sale in lieu thereof), or
if Seller has received notice that any condem­nation action or proceeding with respect to the Real Estate is contemplated by a body having the power of eminent domain, Seller shall give Purchaser immediate written notice of such threatened or
contemplated condemnation or of such taking or sale, and Purchaser may by written notice to Seller given within fifteen (15) days of the receipt of such notice from Seller, elect to cancel this Agreement. If Purchaser chooses to cancel this
Agreement in accordance with this Paragraph 18, then the Earnest Money shall be returned immediately to Purchaser by Escrow Agent and the rights, duties, obligations, and liabilities of the parties hereunder shall immediately terminate and be of no
further force and effect, except for the obligations of the parties which are herein expressly stated to survive the termination of this Agreement. If Purchaser does not elect to cancel this Agreement in accordance herewith, this Agreement shall
remain in full force and effect and the sale of the Property contemplated by this Agreement, less any interest in the Real Estate taken by eminent domain or condemnation, or sale in lieu thereof, shall be effected with no further adjustment and
without reduction of the Purchase Price, and at the Closing, Seller shall assign, transfer, and set over to Purchaser all of the right, title, and interest of Seller in and to any awards that have been or that may thereafter be made for such taking.
At such time as all or a part of the Real Estate is subjected to a bona fide threat of condemnation and Purchaser shall not have elected to terminate this Agreement as hereinabove provided, Purchaser shall be permitted to participate in the
proceedings as if Purchaser were a party to the action. Seller shall not settle or agree to any award or payment pursuant to condemnation, eminent domain, or sale in lieu thereof without obtaining Purchaser’s prior written consent thereto in
each case. 
  
 Seller has advised Purchaser that a portion of the real property currently constituting the 6405
Property will be taken by eminent domain or condemnation (or sale in lieu thereof) in order to expand the rights-of-way of Georgia Highway 400 and Mount Vernon Highway, and that following such taking by eminent domain or condemnation (or sale in
lieu thereof), the boundaries of the 6405 Property shall be adjusted to the proposed right-of-way lines as shown on that certain Boundary Survey prepared for Seller by HDR/W.L. Jorden Engineers, dated March 27, 2001, last revised May 14, 2002.
Purchaser acknowledges and agrees that such condemnation action or proceeding (or sale in lieu thereof) with respect to the 6405 Property as contemplated above shall not give rise to the right of Purchaser to terminate this Agreement, and Purchaser
shall have no right to any award that may be made for such taking, notwithstanding that the Real Estate may include easements over and with respect to the portion of the 6405 Property to be so taken. 
  
 19.  Damage or Destruction.    If any of the Improvements shall be destroyed or damaged prior to the
Closing, and if either the estimated cost of repair or replacement exceeds Two Hundred Fifty Thousand Dollars ($250,000.00) or the damage is such that the Sublease is terminated or terminable at the option of the Subtenant (unless the termination
option is waived in writing), Purchaser may, by written notice given to Seller within twenty (20) days after receipt of written notice from Seller of such damage or destruction, elect to terminate this Agreement, in which event the Earnest Money
shall immediately be returned by Escrow Agent to Purchaser and the rights, duties, obligations, and liabilities of all parties hereunder shall immediately terminate and be of no 
 

 31 

 further force or effect. If Purchaser does not elect to terminate this Agreement pursuant to this Paragraph 19, or has no right to terminate
this Agreement (because the damage or destruction does not exceed $250,000.00 and would not give rise to a right by Subtenant to terminate its Sublease), and the sale of the Property is consummated, Purchaser shall be entitled to receive all
insurance proceeds paid or payable to Seller by reason of such destruction or damage under the insurance required to be maintained by Seller pursuant to Paragraph 10(d) hereof (less amounts of insurance theretofore received and applied by Seller to
costs actually incurred for restoration). Seller shall not settle or release any damage or destruction claims without obtaining Purchaser’s prior written consent in each case. All said insurance proceeds received by Seller by the date of
Closing shall be paid by Seller to Purchaser at Closing, together with the lesser of (i) that amount necessary to cover any dif­ference between the amount of such proceeds and the estimated cost of repair or replacement, or (ii) the amount of
the deductible under Seller’s all–risk property damage insurance policy. In addition, at Closing, Seller shall pay over to Purchaser, and assign to Purchaser, all proceeds of any rent loss insurance for the period of time commencing on the
date of Closing. If the amount of said casualty or rent loss insurance proceeds is not settled by the date of Closing, Seller shall execute at Closing all proofs of loss, assignments of claim, and other similar instruments in order that Purchaser
receive all of Seller’s right, title, and interest in and under said insurance proceeds. 
  
 20.  Hazardous Substances.    To the best of Seller’s knowledge (i) except for diesel fuel stored and used in connection with emergency generators installed at the Real Estate, Hazardous
Substances (including glycol and sulfuric acid) contained in the battery power plants installed by Subtenant within the space leased by Subtenant, and other Hazardous Substances in cleaning fluids commonly and legally stored or used as a consequence
of using a building for office space uses, all stored and used solely for the purposes set forth above with respect to each such Hazardous Substance, and all in the quantities commonly and legally stored and used for such purposes, no Hazardous
Substances or any other pollutants, toxic materials, or contaminants have been or shall prior to Closing be discharged, disbursed, released, stored, treated, gener­ated, disposed of, or allowed to escape on the Real Estate, (ii) no asbestos or
asbestos containing materials have been installed, used, incorporated into, or disposed of on the Real Estate, (iii) no polychlorinated biphenyls are located on or in the Real Estate, in the form of electrical transformers, fluorescent light
fixtures with ballasts, cooling oils, or any other device or form, (iv) no underground storage tanks are located on the Real Estate or were located on the Real Estate and subse­quently removed or filled, (v) no investigation,
ad­ministra­tive order, consent order and agreement, litigation, or settlement with respect to hazardous substances is proposed, threatened, anticipated or in existence with respect to the Real Estate, and (vi) the Real Estate has not
previously been used as a landfill, cemetery, or as a dump for garbage or refuse. Seller hereby indemnifies Purchaser and agrees to holds Purchaser harmless from and against any lost, cost, damage, liability or expense due to or arising out of the
breach of any representation or warranty contained in this Paragraph 20. The representations and warranties set forth in this Paragraph 20 and the indemnification given herein shall expressly survive the Closing. 
  
 20.  Assignment.    This Agreement and Purchaser’s rights, duties, and obligations hereunder may
not be delegated, transferred, or assigned by Purchaser without the prior written consent of Seller, and any assignee or transferee proposed by Purchaser shall expressly assume all 
 

 32 

 of Purchaser’s duties, liabilities and obligations under this Agreement by written instrument delivered to Seller. Notwithstanding the
foregoing to the contrary, this Agreement, and Purchaser’s rights and duties hereunder, may be freely assigned and transferred to any entity under common control with Purchaser or controlled by Purchaser or to Wells Operating Partnership, L.P.,
a Delaware limited partnership, or to any partnership having Purchaser or Wells Operating Partnership, L.P. as a direct or indirect general partner. In the event of any such transfer or assignment, Seller shall look solely to such transferee or
assignee for the performance of all obligations, covenants, conditions, and agreements imposed upon Purchaser pursuant to the terms of this Agreement. For purposes of this Paragraph 21, the term “control” shall mean a twenty percent (20%)
ownership in the applicable entity. 
  
 22.  Broker’s Commission.    Upon
the Closing, and only in the event of Closing, Seller shall pay to Broker a real estate sales commission pursuant to the terms of a separate agreement between Seller and Broker. Seller shall and does hereby indemnify and hold harmless Purchaser from
and against any claim, whether or not meritorious, for any real estate sales commission, finder’s fees, or like compensation in connection with the sale contemplated hereby and arising out of any act or agreement of Seller, including any claim
asserted by Broker. Likewise, Purchaser shall and does hereby indemnify and hold harmless Seller from and against any claim, whether or not meritorious, for any real estate sales commission, finder’s fees, or like compensation in connection
with the sale contemplated hereby and arising out of any act or agreement of Purchaser, except any such claim asserted by Broker. This Paragraph 22 shall survive the Closing or any termination of this Agreement. 
  
 23.  Notices.    Wherever any notice or other communication is required or permitted hereunder, such
notice or other communication shall be in writing and shall be delivered by overnight courier, by hand, facsimile transmission or sent by U.S. certified mail, return receipt requested, postage prepaid, to the addresses set out below or at such other
addresses as are specified by written notice delivered in accordance herewith: 
  
 PURCHASER:    Wells Capital, Inc. 
 6200 The Corners Parkway, Suite 250 
 Norcross, Georgia 30092 
 Attn: Mr. Jeffrey A. Gilder 
 Facsimile: (770) 200-8199 
  
 with a copy to:    Troutman Sanders LLP 
 Bank of America Plaza, Suite 5200 
 600 Peachtree Street, N.E. 
 Atlanta, Georgia 30308–2216 

Attn: Mr. John W. Griffin 
 Facsimile: (404) 962-6577 

 33 

  
 SELLER:                     Mount Vernon Place Partners, LLC 
 c/o Griffin Management Services, Inc. 
 800 Mount Vernon Highway, Suite 300 
 Atlanta, Georgia 30328 
 Attn: Mr. Joel J. Griffin 
 Facsimile: (770) 522-7410 
  
 with a
copy to:             The Taylor Law Firm, PC 
 Suite 1200 Tower Place 100 

3340 Peachtree Road, N.E. 
 Atlanta, Georgia 30326 
 Attn: Mr. Bradley J. Taylor 
 Facsimile: (404) 261-6779 

 
 Any notice or other communication (i) mailed as hereinabove provided shall be deemed effectively given or received on the third (3rd) Business Day
following the postmark date of such notice or other communication, (ii) sent by overnight courier or by hand shall be deemed effectively given or received on the date of delivery, and (iii) sent by facsimile transmission shall be deemed effectively
given or received on the first Business Day after the day of transmission of such notice and confirmation of such transmission. 
  
 24.  Possession.    Possession of the Property shall be granted by Seller to Purchaser on the date of Closing, subject only to the Sublease and the Permitted Exceptions. 
  
 25.  Time Periods.    If the time period by which any right, option, or election provided under this
Agreement must be exercised, or by which any act required hereunder must be performed, or by which the Closing must be held, expires on a Saturday, Sunday, or holiday, then such time period shall be automatically extended through the close of
business on the next regularly scheduled Business Day. 
  
 26.  Access to Records Following
Closing.    Purchaser agrees that for a period of two (2) years following the Closing, Seller shall have the right during regular business hours, on five (5) days’ written notice to Purchaser, to examine and review at
Purchaser’s Norcross, Georgia office, the books and records relating to the ownership and operation of the Property which were delivered by Seller to Purchaser at the Closing. Likewise, Seller agrees that for a period of two (2) years following
the Closing, Purchaser shall have the right during regular business hours, on five (5) days’ written notice to Seller, to examine and review at Seller’s Atlanta, Georgia office, all books, records, and files, if any, retained by Seller
relating to the ownership and operation of the Property prior to the Closing. The obligations of the parties under this Paragraph 26 shall survive the Closing. 
  
 27.  Survival of Provisions.    All covenants, warranties, and agreements set forth in this Agreement shall survive the execution or delivery of any and all deeds
and other documents at any time executed or delivered under, pursuant to, or by reason of this Agreement, and shall survive the payment of all monies made under, pursuant to, or by reason of this Agreement; provided, however, 
 

 34 

 that the representations and warranties contained in Paragraphs 9 and 29 hereof shall automatically expire on the date which is one (1) year
after the date of Closing, except to the extent that a notice of breach of any representation or warranty has been given prior to such expiration. 
  
 28.  Severability.    This Agreement is intended to be performed in accordance with, and only to the extent permitted by, all applicable laws, ordinances, rules,
and regulations. If any provision of this Agreement, or the application thereof to any person or circumstance, shall, for any reason and to any extent be invalid or unenforceable, the remainder of this Agreement and the application of such provision
to other persons or circumstances shall not be affected thereby but rather shall be enforced to the greatest extent permitted by law. 
  
 29.  Authorization.    Purchaser represents to Seller that this Agreement has been duly authorized and executed on behalf of Purchaser and constitutes the valid and binding agreement of
Purchaser, enforceable in accordance with its terms, and all necessary action on the part of Purchaser to authorize the transactions herein contemplated has been taken, and no further action is necessary for such purpose. 
  
 30.  General Provisions.    No failure of either party to exercise any power given hereunder or to
insist upon strict compliance with any obligation specified herein, and no custom or practice at variance with the terms hereof, shall constitute a waiver of either party’s right to demand exact compliance with the terms hereof. This Agreement
contains the entire agreement of the parties hereto, and no representations, inducements, promises, or agreements, oral or otherwise, between the parties not embodied herein shall be of any force or effect. Any amendment to this Agreement shall not
be binding upon the parties hereto unless such amendment is in writing and executed by all parties hereto. The provisions of this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, legal
representatives, succes­sors, and assigns. Time is of the essence of this Agreement. This Agreement may be executed in multiple counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and
the same agreement. The headings inserted at the beginning of each paragraph are for convenience only, and do not add to or subtract from the meaning of the contents of each paragraph. This Agreement shall be construed and interpreted under the laws
of the State of Georgia. Except as otherwise provided herein, all rights, powers, and privileges conferred hereunder upon the parties shall be cumulative but not restrictive to those given by law. All personal pronouns used in this Agreement,
whether used in the masculine, feminine, or neuter gender shall include all genders, and all references herein to the singular shall include the plural and vice versa. 
  
 31.  Termination of 6405 Contract.    Concurrently with the execution and delivery of this Agreement, Spring Creek Partners, LLC, a
Georgia limited liability company (“Spring Creek”) and Purchaser have entered into that certain Agreement for the Purchase and Sale of Property of even date herewith for the sale by Spring Creek to Purchaser, and the purchase by Purchaser
from Spring Creek, of the 6405 Property which adjoins the Land (the “6405 Contract”). In the event Purchaser elects to terminate the 6405 Contract on or prior to the expiration of the Inspection Period (as defined therein) pursuant
Paragraph 8 of the 6405 Contract, and not as a result of a default or breach by Spring Creek under the 6405 Contract, then this Agreement shall automatically be 
 

 35 

 terminated pursuant to Paragraph 6 of this Agreement, whereupon Escrow Agent shall disburse the Earnest Money as provided in Paragraph 6 of this
Agreement, and neither Seller nor Purchaser party shall have any other rights or obligations under this Agreement, except for such rights and obligations which expressly survive the termination of this Agreement. 
  
  
  
  
 [SIGNATURES BEGIN ON NEXT
PAGE] 
  
 

 36 

  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and their respective seals to be affixed hereunto as of the day, month and year first above written. 
  
 
	 “SELLER”:
  
 MOUNT
VERNON PLACE PARTNERS, LLC,
 a Georgia limited liability company
 
	 
	 By:
 	 	                     /s/    JOEL J.
GRIFFIN        (SEAL)
 

	  	 	 Joel J. Griffin
 Managing
Member
 

 
  
  
  
 [SIGNATURES CONTINUED ON NEXT PAGE] 
 

 37 

  
 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 
  
 
	 “PURCHASER”:
  
 WELLS CAPITAL, INC., a Georgia corporation
 
	 
	 By:
 	 	 /s/    DOUGLAS P.
WILLIAMS        
 

	  	 	 Douglas P. Williams
 Senior
Vice President
 
	  	 	 (CORPORATE SEAL)
 

 
 

 38

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