SEC Contract Filing

Filing Date: 2016-09-20

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>5
<FILENAME>d252326dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><I>Execution Version </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND
AMENDED AND RESTATED AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS SECOND AMENDED AND RESTATED AGREEMENT (this &#147;Agreement&#148;) is entered into this 15th day
of September, 2016, by and among IPT BTC I GP LLC, a Delaware limited liability company (the &#147;General Partner&#148;), Industrial Property Advisors Sub I LLC, a Delaware limited liability company (the &#147;Advisor Sub&#148;), and, solely with
respect to Section&nbsp;1 and the third sentence of Section&nbsp;3 hereof, Industrial Property Advisors LLC, a Delaware limited liability company (the &#147;Advisor&#148;). The General Partner is an indirect subsidiary of Industrial Property Trust
Inc., a Maryland corporation (&#147;IPT&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>RECITALS</U>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. The General Partner and the Advisor entered into that certain Agreement, dated February&nbsp;12, 2015 (the &#147;Initial Agreement&#148;).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. The General Partner and the Advisor amended and restated the Initial Agreement pursuant to that certain Amended and Restated
Agreement, dated as of April&nbsp;10, 2015 (as amended pursuant to that certain Amendment No.&nbsp;1 to Amended and Restated Agreement, and as further amended by that certain Amendment No.&nbsp;2 to Amended and Restated Agreement, the &#147;A&amp;R
Agreement&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C. The General Partner is the general partner of Build-to-Core Industrial Partnership I LP, a Delaware limited
partnership (the &#147;Partnership&#148;), and has entered into that certain Third Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of the date hereof (the &#147;Partnership Agreement&#148;), by and among the
General Partner, IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT (the &#147;IPT Limited Partner&#148; and, together with the General Partner, collectively, the &#147;IPT Partners&#148;), the Advisor Sub, bcIMC
International Real Estate (2004)&nbsp;Investment Corporation, a Canadian corporation, as a limited partner (the &#147;BCIMC Pension Partner&#148;), bcIMC (WCBAF) Realpool Global Investment Corporation, a Canadian corporation, as a limited partner
(the &#147;BCIMC Accident Fund Partner&#148;), and bcIMC (USA) Realty Div A2 LLC, a Delaware limited liability company, as a limited partner (the &#147;BCIMC USA Partner&#148; and, together with the BCIMC Pension Partner and the BCIMC Accident Fund
Partner, collectively, the &#147;BCIMC Limited Partner&#148; and, together with the IPT Partners and the Advisor Sub, collectively, the &#147;Partners&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D. The Partnership Agreement sets forth the terms pursuant to which the Partners intend to jointly invest in a portfolio of industrial
properties located in major United States distribution markets. Any term with its initial letter capitalized and not otherwise defined herein shall have the meaning set forth in the Partnership Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">E. Pursuant to Article 6 of the Partnership Agreement, the General Partner, in its capacity as General Partner, is obligated to provide or
appoint others, including its affiliates, to provide the Partnership with day-to-day management services, including but not limited to acquisition and asset management services and, to the extent applicable with respect to certain Partnership
investments, development and construction management, property management, leasing and disposition services. The Partnership has agreed to pay certain fees (the &#147;Fees&#148;) as compensation for providing the services to the Partnership (the
&#147;Services&#148;) that are specifically </P>

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enumerated in Section&nbsp;6.3(a) of the Partnership Agreement, other than any investment advisory services with respect to securities (&#147;Investment Advisory Services&#148;), including, where
applicable, providing such services to the subsidiaries of the Partnership. The Fees are set forth in Exhibit D to the Partnership Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">F. Pursuant to the Fourth Amended and Restated Advisory Agreement, dated as of August&nbsp;12, 2016 (the &#147;Advisory Agreement&#148;), by
and among IPT, Industrial Property Operating Partnership LP, a Delaware limited partnership (the &#147;Operating Partnership&#148;) and the Advisor, the Advisor provides acquisition and asset management services and, to the extent applicable with
respect to certain of IPT&#146;s investments, development and construction management, property management, leasing and disposition se