<SEC-DOCUMENT>0000844059-18-000009.txt : 20180322
<SEC-HEADER>0000844059-18-000009.hdr.sgml : 20180322
<ACCEPTANCE-DATETIME>20180322173103
ACCESSION NUMBER:		0000844059-18-000009
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20180322
DATE AS OF CHANGE:		20180322
EFFECTIVENESS DATE:		20180322

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRP HOLDINGS, INC.
		CENTRAL INDEX KEY:			0000844059
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		IRS NUMBER:				472449198
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36769
		FILM NUMBER:		18707772

	BUSINESS ADDRESS:	
		STREET 1:		200 W. FORSYTH ST.
		STREET 2:		7TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202
		BUSINESS PHONE:		9043965733

	MAIL ADDRESS:	
		STREET 1:		200 W. FORSYTH ST.
		STREET 2:		7TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PATRIOT TRANSPORTATION HOLDING INC
		DATE OF NAME CHANGE:	20010425

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRP PROPERTIES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>frph8k20180322.htm
<DESCRIPTION>FRPH FORM 8-K
<TEXT>
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<TITLE></TITLE>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 4pt 0 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>FORM 8-K </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of the Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Date of Report (Date of earliest event
reported): March 22, 2018 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center"><B>FRP HOLDINGS, INC. </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Florida</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>001-36769</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>47-2449198</B></FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(State or other jurisdiction</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(Commission</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(I.R.S. Employer</B></FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>of incorporation)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>File Number)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Identification No.)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>200 W. Forsyth Street, 7<SUP>th</SUP> Floor, Jacksonville, FL</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>32202</B></FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(Address of principal executive offices)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(Zip Code)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Registrant&#8217;s telephone number,
including area code: (904) 858-9100</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><B>(Former name or former address, if
changed since last report) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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    <TD STYLE="width: 4%; padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 96%; padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: Wingdings 2; font-size: 10pt">R</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: MS Mincho; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0">&nbsp;</P>

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    <TD STYLE="width: 100%; padding-top: 5pt; padding-bottom: 5pt; text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Item 1.01 Entry into a Material Definitive Agreement </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On March 22, 2018, FRP Holdings, Inc.
(the &#8220;<B>Company</B>&#8221; or &#8220;<B>FRP</B>&#8221;) and certain of its subsidiaries (collectively, &#8220;<B>Seller</B>&#8221;)
entered into an agreement of purchase and sale (the &#8220;<B>Sale Agreement</B>&#8221;) with BRE Foxtrot Parent, LLC (&#8220;<B>Purchaser</B>&#8221;),
an affiliate of Blackstone Real Estate Partners VIII, L.P., pursuant to which FRP and Seller agreed to sell to Purchaser its portfolio
of 41 warehouse properties and two additional land parcels (collectively, the &#8220;<B>Properties</B>&#8221;) for a purchase price of $358.9 million (the &#8220;<B>Sale Transaction</B>&#8221;), subject to the terms and conditions of the
Sale Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The closing of the Sale Transaction
shall take place on the later of (i) sixty (60) days after entering into the Sale Agreement and (ii) three (3) business days after
the date on which the shareholders of FRP approve the Sale Transaction, subject to the terms and conditions of the Sale Agreement.
Following the closing of the Sale Transaction, FRP will continue to be a public company operating under the name FRP Holdings,
Inc., and to own the assets in its Riverfront on the Anacostia Segment and the Mining Royalty Lands Segment, its other Washington,
D.C. properties, its Brooksville and Windlass office park joint venture interests, three office buildings, four land parcels in
business parks and its large parcel in Hampstead, Maryland (the &#8220;<B>Retained Business</B>&#8221;). FRP will maintain the
same corporate functions, the same board of directors and a majority of the same senior executives as it had prior to the completion
of the Sale Transaction and, immediately after the consummation of the Sale Transaction, all of FRP&#8217;s revenues will be generated
by its Retained Businesses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The proceeds from the Sale Transaction
will be received by FRP and not by its shareholders. FRP expects to use a portion of the proceeds to pay for transaction costs
associated with the Sale Transaction, to pay off at closing of the Sale Transaction all indebtedness encumbering the Properties
and for general working capital purposes. At present, FRP also plans to reinvest a portion of the proceeds into its other business
segments, possibly in tax deferred like-kind exchanges under Section 1031 of the Internal Revenue Code.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Several of the Properties are subject
to certain rights of first refusal, rights of first offer, purchase options or similar rights relating to such Property in favor
of the tenants (each, an &#8220;<B>Option</B>&#8221;). Should any counterparty to an Option exercise its right to purchase the
applicable Property (an &#8220;<B>Excluded Option Property</B>&#8221;), Seller must notify Purchaser of the same, in which event
the Sale Agreement will terminate as to only such Excluded Option Property. Notwithstanding the foregoing, at any time after entering
into the Sale Agreement and prior to the date twelve (12) months after the closing date, if such tenant subsequently defaults on
its obligation to purchase such Excluded Option Property or such Excluded Option Property otherwise becomes available for sale,
Purchaser will have the right to cause the Seller to sell such Excluded Option Property to Purchaser.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Purchaser has also deposited $14,356,000
with an escrow agent (the &#8220;<B>Earnest Money</B>&#8221;). The Earnest Money is to be applied at closing against payment of
the purchase price and is non-refundable to Purchaser except as expressly provided in the Sale Agreement. The Sale Agreement provides
that the Earnest Money shall be disbursed to Seller if Seller terminates the Sale Agreement due a material breach or default by
Purchaser to pay the purchase price and purchase the Properties under the Sale Agreement on the closing date.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Sale Agreement contains customary
representations, warranties and covenants, including, among others, covenants by Seller to operate and maintain the Properties
in accordance with Seller&#8217;s past practices, subject to certain exceptions, during the period between execution of the Sale
Agreement and the consummation of the Sale Transaction.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The consummation of the Sale Transaction
is also subject to certain customary closing conditions, including, among others, (i) approval of the Sale Transaction and other
transactions contemplated by the Sale Agreement by the affirmative vote of the majority of all the votes entitled to be cast on
the transaction (the &#8220;<B>Shareholder Approval</B>&#8221;), (ii) receipt of certain estoppel letters with respect to the Properties
and (ii) subject to certain permitted exceptions, fee simple title being vested in the Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Sale Agreement requires FRP to convene
a meeting of FRP shareholders for the purposes of obtaining the Shareholder Approval and to prepare and file a proxy statement
with the U.S. Securities and Exchange Commission (&#8220;<B>SEC</B>&#8221;) with respect to the meeting as promptly as reasonably
practicable after the date of the Sale Agreement (and, in any event, no more than five (5) Business Days following such date),
which proxy statement shall contain, subject to certain exceptions, the FRP Board&#8217;s recommendation that FRP shareholders
vote in favor of the Sale Agreement, including the transactions contemplated by it.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">FRP has agreed not to solicit or enter
into an agreement regarding any proposal, offer or inquiry regarding an Acquisition Proposal (as defined in the Sale Agreement),
and, subject to certain exceptions, is not permitted to enter into discussions or negotiations concerning, or provide non-public
information to a third party in connection with, any Acquisition Proposal. However, FRP may, prior to obtaining the Shareholder
Approval, participate in negotiations and provide non-public information to a third party which has made an unsolicited bona fide
written Acquisition Proposal if the FRP Board in good faith, after consultation with outside legal counsel and financial advisors,
determines that such Acquisition Proposal constitutes, or could reasonably be expected to lead to, a Superior Proposal (as defined
in the Sale Agreement).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Prior to the approval of the Sale Transaction
by FRP shareholders, the FRP Board may in certain circumstances effect an Adverse Recommendation Change (as defined in the Sale
Agreement), subject to complying with the specified notice and other conditions set forth in the Sale Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under certain circumstances, and after
following certain procedures and adhering to certain restrictions, FRP is permitted to terminate the Sale Agreement, prior to obtaining
the Shareholder Approval, if the FRP Board enters into an Alternative Acquisition Agreement (as defined in the Sale Agreement)
with respect to a Superior Proposal. In addition, Purchaser may terminate the Sale Agreement under certain circumstances and subject
to certain restrictions, including if the FRP Board effects an Adverse Recommendation Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Upon a termination of the Sale
Agreement, under certain circumstances, FRP will be required to pay a termination fee to Purchaser of $22,500,000. FRP will
also be required to pay to Purchaser an amount equal to all out-of-pocket costs and expenses incurred by Purchaser and its
affiliates in connection with the Sale Transaction (i) in the event that the Shareholder Approval is not obtained before the
Outside Closing Date (as defined in the Sale Agreement), (ii) if Purchaser elects to terminate the Sale Agreement due to a
failure to obtain the Shareholder Approval, (iii) if Purchaser elects to terminate the Sale Agreement due to a material
breach or default by Seller in the performance of its obligations under the Sale Agreement or (iv) if the Sale Agreement is
terminated and the termination fee is payable.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The foregoing description of the Sale
Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the Sale Agreement,
a copy of which is filed as Exhibit 2.1 hereto, and is incorporated herein by reference. The Sale Agreement has been attached
as an exhibit to provide shareholders with information regarding its terms. It is not intended to provide any other factual or
financial information about the Company, Seller, the Purchaser or any of their respective affiliates or businesses. The representations,
warranties, covenants and agreements contained in the Sale Agreement were made only for the purposes of such agreement and as
of specified dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon
by the contracting parties. The representations and warranties have been qualified by confidential disclosures made for the purposes
of allocating contractual risk between the parties to the Sale Agreement instead of establishing these matters as facts, and may
be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Shareholders
should not rely on the representations, warranties, covenants and agreements contained in the Sale Agreement or any descriptions
thereof as characterizations of the actual state of facts or condition of the Company, Seller, the Purchaser or any of their respective
affiliates or businesses. Moreover, information concerning the subject matter of the representations and warranties may change
after the date of the Sale Agreement, which subsequent information may or may not be fully reflected in the Company&#8217;s public
disclosures. The Sale Agreement should not be read alone, but should instead be read in conjunction with the other information
regarding the Company, Seller, the Purchaser and their respective affiliates and the transactions contemplated by the Sale Agreement
that will be contained in or attached as an annex to the proxy statement that the Company will file in connection with the transactions
contemplated by the Sale Agreement as well as in the other filings that the Company will make with the SEC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Voting and Support Agreement</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Concurrently with the execution of the
Sale Agreement, our Executive Chairman John D. Baker II and certain members of his family and their affiliated trusts (the &#8220;<B>Baker
Shareholders</B>&#8221;) entered into a voting and support agreement (the &#8220;<B>Support Agreement</B>&#8221;) with Purchaser,
pursuant to which the Baker Shareholders have agreed to vote all of their shares of FRP common stock (representing approximately
32.4% of the outstanding shares of FRP common stock as of March 15, 2018) in favor of, among other things, the adoption of the
Sale Agreement and approval of the transactions contemplated thereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The foregoing description of the Support
Agreement and the transactions contemplated thereby is only a summary, does not purport to be complete, and is qualified in its
entirety by reference to the Voting Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Important Information </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The shareholders of the Company will
be asked to approve the sale of these properties to BRE Foxtrot Parent, LLC; In order to solicit this approval, the Company will
file documents with the SEC, including a definitive proxy statement relating to the proposed sale. The definitive proxy statement
will also be mailed to the Company&#8217;s shareholders in connection with the proposed sale. Investors and security holders are
urged to read these documents when they become available because they will obtain important information about the Company and the
proposed sale. Investors may obtain free copies of these documents when they are filed with the SEC at the SEC&#8217;s website
at http://www.sec.gov or by directing a request to FRP Holdings, Inc. Attn: Corporate Secretary, 200 W. Forsyth Street, 7<SUP>th</SUP>
Floor, Jacksonville, Florida 32202.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company and its directors and executive
officers may be deemed participants in the solicitation of proxies in connection with the proposed sale. Information regarding
the interests of these directors and executive officers in the proposed transaction will be included in the definitive proxy statement
when it is file with the SEC. Additional information regarding the directors and executive officers of the Company is also included
in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on March 16,
2018, and the definitive proxy statement relating to the Company&#8217;s 2017 Annual Meeting of Shareholders, which was filed with
the SEC on December 22, 2016. The documents are available free of charge at the SEC&#8217;s website at http://www.sec.gov and from
the Corporate Secretary of the Company as described above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 5.08 Shareholder Director Nominations.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company anticipates having its annual meeting
on May 2, 2018. Any nominating shareholder or nominating shareholder group must submit notice on Schedule 14N on or before March
23, 2018. Such notice on Schedule 14N must be submitted to the Company and filed with the Securities and Exchange Commission on
the same day.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Item 8.01. Other Events.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 22, 2018, Purchaser and FRP
announced that they had entered into the Sale Agreement by press release, a copy of which is attached hereto as Exhibit 99.1 and
incorporated herein by reference.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Item 9.01. Financial Statements and
Exhibits. </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.25in">(c) Exhibits</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exhibit 2.1</FONT></TD>
    <TD STYLE="width: 82%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Agreement for Purchase and Sale, dated as of March 22 2018, by and among FRP Holdings, Inc., certain subsidiaries of FRP Holdings, Inc. named therein, and BRE Foxtrot Parent, LLC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exhibit 10.1</FONT></TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Voting and Support Agreement, dated as of March 22, 2018, by and among BRE Foxtrot Parent, LLC and the shareholders of FRP Holdings, Inc., named therein.</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exhibit 99.1 </FONT></TD>
    <TD STYLE="width: 82%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Press release dated March 22, 2018, issued by FRP Holdings, Inc.</FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TR>
    <TD STYLE="width: 41%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FRP Holdings, Inc.</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: March 22, 2018</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ John D. Milton, Jr.</I></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">John D. Milton, Jr.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">Executive Vice President and Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exhibit No.</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 82%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="pafoxtrot2.htm">Agreement for Purchase and Sale, dated as of March 22, 2018, by and among FRP Holdings, Inc., certain subsidiaries of FRP Holdings, Inc. named therein, and BRE Foxtrot Parent, LLC</A>.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="votingagr.htm">Voting and Support Agreement, dated as of March 22, 2018, by and among BRE Foxtrot Parent, LLC and the shareholders of FRP Holdings, Inc., named therein.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="frphpr20180322.htm">Press release dated March 22, 2018, issued by FRP Holdings, Inc.</A></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-2
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<FILENAME>pafoxtrot2.htm
<DESCRIPTION>AGREEMENT FOR PURCHASE AND SALE BETWEEN FRP HOLDINGS, INC AND BRE FOXTROT PARENT, LLC
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">AGREEMENT OF PURCHASE AND SALE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">by and between</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">FRP HOLDINGS, INC., as PARENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">THE SELLERS NAMED HEREIN, as SELLERS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 60pt; text-align: center">BRE FOXTROT PARENT LLC, as BUYER</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Dated as of March 22, 2018</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">&nbsp;</P>


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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">TABLE OF CONTENTS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B><U>Page</U></B></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="width: 90%; text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;I DEFINITIONS</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 12pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;1.1.&nbsp;&nbsp;&nbsp;Defined Terms</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;II SALE, PURCHASE PRICE AND CLOSING</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">12</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;2.1.&nbsp;&nbsp;&nbsp;Sale of Assets</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">12</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;2.2.&nbsp;&nbsp;&nbsp;Purchase Price</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">14</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;2.3.&nbsp;&nbsp;&nbsp;The Closing</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">15</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;2.4.&nbsp;&nbsp;&nbsp;Withholding</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">16</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;III REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PARENT</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">16</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;3.1.&nbsp;&nbsp;&nbsp;General Seller and Parent Representations and Warranties</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">16</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;3.2.&nbsp;&nbsp;&nbsp;Representations and Warranties of Seller as to the Assets</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">18</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;3.3.&nbsp;&nbsp;&nbsp;Covenants of Seller Prior to Closing</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">21</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;3.4.&nbsp;&nbsp;&nbsp;Tenant Estoppels</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">26</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;3.5.&nbsp;&nbsp;&nbsp;Projects Involving Letters of Credit</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;3.6.&nbsp;&nbsp;&nbsp;AC Lease</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;IV REPRESENTATIONS, WARRANTIES AND COVENANTS OF BUYER</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;4.1.&nbsp;&nbsp;&nbsp;Representations and Warranties of Buyer</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;4.2.&nbsp;&nbsp;&nbsp;Covenants of Buyer</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">31</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;V CONDITIONS PRECEDENT TO CLOSING</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">31</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;5.1.&nbsp;&nbsp;&nbsp;Conditions Precedent to Seller&#146;s Obligations</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">31</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;5.2.&nbsp;&nbsp;&nbsp;Conditions Precedent to Buyer&#146;s Obligations</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">31</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;5.3.&nbsp;&nbsp;&nbsp;Waiver of Conditions Precedent</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">32</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;VI CLOSING DELIVERIES</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">32</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;6.1.&nbsp;&nbsp;&nbsp;Buyer Closing Deliveries</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">32</TD></TR>
</TABLE>
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<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;6.2.&nbsp;&nbsp;&nbsp;Seller Closing Deliveries</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 12pt">33</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;6.3.&nbsp;&nbsp;&nbsp;Cooperation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">35</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;VII INSPECTIONS; RELEASE</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">35</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;7.1.&nbsp;&nbsp;&nbsp;Right of Inspection</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">35</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;7.2.&nbsp;&nbsp;&nbsp;<B>GENERAL DISCLAIMER</B></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">35</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;7.3.&nbsp;&nbsp;&nbsp;<B>RELEASE</B></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">36</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;VIII TITLE AND PERMITTED EXCEPTIONS</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">36</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;8.1.&nbsp;&nbsp;&nbsp;Title Insurance and Survey</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">36</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;8.2.&nbsp;&nbsp;&nbsp;Title Commitment; Survey</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">37</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;8.3.&nbsp;&nbsp;&nbsp;Certain Exceptions to Title; Inability to Convey</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">37</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;8.4.&nbsp;&nbsp;&nbsp;Buyer&#146;s Right to Accept Title</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">38</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;8.5.&nbsp;&nbsp;&nbsp;Cooperation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">38</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;IX TRANSACTION COSTS; RISK OF LOSS; Options</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">38</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;9.1.&nbsp;&nbsp;&nbsp;Transaction Costs</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">38</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;9.2.&nbsp;&nbsp;&nbsp;Risk of Loss</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">39</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;9.3.&nbsp;&nbsp;&nbsp;Options</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">40</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;9.4.&nbsp;&nbsp;&nbsp;Crossroads Outparcel</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">41</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;X ADJUSTMENTS</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">42</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.1.&nbsp;&nbsp;&nbsp;Fixed Rents and Additional Rents</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">42</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.2.&nbsp;&nbsp;&nbsp;Taxes and Assessments</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">44</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.3.&nbsp;&nbsp;&nbsp;Water and Sewer Charges</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">45</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.4.&nbsp;&nbsp;&nbsp;Utility Charges</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">45</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.5.&nbsp;&nbsp;&nbsp;Leasing Costs</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">45</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.6.&nbsp;&nbsp;&nbsp;Assumed Contracts</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">46</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.7.&nbsp;&nbsp;&nbsp;REAs</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">46</TD></TR>
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    <TD STYLE="width: 90%; text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.8.&nbsp;&nbsp;&nbsp;Associations</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 12pt">46</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.9.&nbsp;&nbsp;&nbsp;YBR Property</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">46</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.10.&nbsp;&nbsp;&nbsp;Other Adjustments</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">46</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;10.11.&nbsp;&nbsp;&nbsp;Re-Adjustment</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">46</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;XI INDEMNIFICATION</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">47</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.1.&nbsp;&nbsp;&nbsp;Indemnification by Seller</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">47</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.2.&nbsp;&nbsp;&nbsp;Indemnification by Buyer</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">47</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.3.&nbsp;&nbsp;&nbsp;Limitations on Indemnification</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">47</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.4.&nbsp;&nbsp;&nbsp;Survival</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.5.&nbsp;&nbsp;&nbsp;Notification</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.6.&nbsp;&nbsp;&nbsp;Indemnification as Sole Remedy</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.7.&nbsp;&nbsp;&nbsp;Tax Treatment of Indemnity</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;11.8.&nbsp;&nbsp;&nbsp;Damages</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;XII TAX CERTIORARI PROCEEDINGS</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;12.1.&nbsp;&nbsp;&nbsp;Prosecution and Settlement of Proceedings</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;12.2.&nbsp;&nbsp;&nbsp;Application of Refunds or Savings</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">49</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;12.3.&nbsp;&nbsp;&nbsp;Survival</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">49</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;XIII DEFAULT</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">49</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;13.1.&nbsp;&nbsp;&nbsp;Buyer&#146;s Default; Failure of Conditions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">49</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;13.2.&nbsp;&nbsp;&nbsp;Seller&#146;s Default; Failure of Conditions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">50</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;XIV Public Company</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">50</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;14.1.&nbsp;&nbsp;&nbsp;Preparation of the Proxy Statement; Shareholders Meeting</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">50</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;14.2.&nbsp;&nbsp;&nbsp;No Solicitation; Acquisition Proposals</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">52</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;14.3.&nbsp;&nbsp;&nbsp;Termination</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">57</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;14.4.&nbsp;&nbsp;&nbsp;Parent Termination Fee</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">57</TD></TR>
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    <TD STYLE="width: 90%; text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;XV Employees</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 12pt">58</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;15.1.&nbsp;&nbsp;&nbsp;Employees</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">58</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -1in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1in">Article&nbsp;XVI MISCELLANEOUS</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">59</TD></TR>
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    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.1.&nbsp;&nbsp;&nbsp;Exculpation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">59</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.2.&nbsp;&nbsp;&nbsp;Brokers</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">59</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.3.&nbsp;&nbsp;&nbsp;Confidentiality; Press Release; IRS Reporting Requirements</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">59</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.4.&nbsp;&nbsp;&nbsp;Escrow Provisions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">60</TD></TR>
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    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.5.&nbsp;&nbsp;&nbsp;Earnest Money Escrow Account; Escrowed Funds</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">61</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.6.&nbsp;&nbsp;&nbsp;Successors and Assigns; No Third-Party Beneficiaries</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.7.&nbsp;&nbsp;&nbsp;Assignment</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.8.&nbsp;&nbsp;&nbsp;Further Assurances</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.9.&nbsp;&nbsp;&nbsp;Notices</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.10.&nbsp;&nbsp;&nbsp;Entire Agreement</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.11.&nbsp;&nbsp;&nbsp;Amendments</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.12.&nbsp;&nbsp;&nbsp;No Waiver</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.13.&nbsp;&nbsp;&nbsp;Governing Law</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.14.&nbsp;&nbsp;&nbsp;Intentionally Omitted</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.15.&nbsp;&nbsp;&nbsp;Severability</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.16.&nbsp;&nbsp;&nbsp;Section Headings</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.17.&nbsp;&nbsp;&nbsp;Counterparts</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.18.&nbsp;&nbsp;&nbsp;Construction</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.19.&nbsp;&nbsp;&nbsp;Recordation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.20.&nbsp;&nbsp;&nbsp;Time is of the Essence</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.21.&nbsp;&nbsp;&nbsp;Schedules</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.22.&nbsp;&nbsp;&nbsp;Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">65</TD></TR>
</TABLE>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.23.&nbsp;&nbsp;&nbsp;Joint and Several Liability</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 12pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.24.&nbsp;&nbsp;&nbsp;State Specific Provisions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -1.25in; padding-top: 0in; padding-bottom: 12pt; padding-left: 1.75in">Section&nbsp;16.25.&nbsp;&nbsp;&nbsp;1031 Exchange</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 12pt">65</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>SCHEDULES</U></TD></TR>
<TR>
    <TD NOWRAP STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;A-1 and A-2</U></TD>
    <TD NOWRAP STYLE="width: 75%; padding-right: 5.4pt; padding-left: 5.4pt">Property</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 1.1(a)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Existing Mortgages</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 1.1(b)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Major Leases</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 1.1(c)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Surveys</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 1.1(d)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title Commitments</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 1.1(e)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Incentive Compensation Agreements</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 1.1(f)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Existing Violations</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 1.1(g)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="background-color: white">Crossroads Outparcel</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 2.1(c)(iii)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Additional Excluded Assets</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 2.2(a)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Allocated Asset Value and Earnest Money</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.1(c)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Consents Required</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.2(a)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Material Contracts</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.2(b-1)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Space Leases</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.2(b-2)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Offsets, Counterclaims, Deductions and Prepaid Rents</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(b-3)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Leasing Costs</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.2(b-4)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Security Deposits</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(b-5)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Space Lease Defaults</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.2(c)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Brokerage Commissions</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.2(d)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Casualty; Condemnation</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.2(e)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Litigation</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="background-color: white"><U>Schedule&nbsp;3.2(h)</U></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Options</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(i)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Permits</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(j)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Insurance</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(l)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Environmental Reports</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(m)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">REAs</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(n)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Association Documents</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(p)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Affiliate Agreements</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(r)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Neighboring Land </TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.2(s)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Municipal Letters of Credit</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="background-color: white"><U>Schedule 3.3(c)(ii)</U></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">YBR Letter of Intent</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.3(f)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Capital Expenditures Work</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;3.3(g)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Landlord Work</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.4(a)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Tenant Estoppel Requirements </TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 3.4(d)</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Tenant Estoppel Termination Rights</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="background-color: white"><U>Schedule 3.5</U></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="background-color: white">LOC Work Projects</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule&nbsp;4.2</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Assumed Contracts</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Schedule 8.2</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Non-Permitted Exceptions</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>EXHIBITS</U></TD></TR>
<TR>
    <TD NOWRAP STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;A-1 &ndash; A-3 </U></TD>
    <TD NOWRAP STYLE="width: 75%; padding-right: 5.4pt; padding-left: 5.4pt">Form of Tenant Estoppel Certificates</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;B-1</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of Association Estoppel Certificate</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;B-2</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of REA Estoppel Certificate</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;C</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of Assignment of Leases</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;D</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of Assignment of Contracts</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;E</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of Tenant Notices</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;F</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of Assignment of Licenses, Permits, Warranties and General Intangibles</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;G-1 &ndash; G-3</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Forms of Deed (State-Specific)</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;H</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of Bill of Sale</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;I-1 &ndash; I-2</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of FIRPTA Certificate</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit&nbsp;J</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Form of Title Affidavit</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit K</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Voting Agreement</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><U>Exhibit L</U></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="background-color: white">LOC Work Access Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>AGREEMENT OF PURCHASE AND SALE</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">AGREEMENT OF PURCHASE AND SALE, made as
of the 22nd day of March, 2018 by and between FRP Holdings, Inc., a Florida corporation (&ldquo;<U>Parent</U>&rdquo;), each of
the entities listed in the column entitled &ldquo;Sellers&rdquo; on <U>Schedule A-1</U> attached hereto and made a part hereof
(collectively, &ldquo;<U>Seller</U>&rdquo;) and BRE FOXTROT PARENT LLC, a Delaware limited liability company (&ldquo;<U>Buyer</U>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>BACKGROUND</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">A.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Seller is the owner of the land as more particularly described on <U>Schedule A-2</U> and the buildings and other improvements
thereon which are identified by the street addresses listed in the column entitled &ldquo;Property&rdquo; opposite their names
on <U>Schedule&nbsp;A-1</U> attached hereto and made a part hereof (collectively, the &ldquo;<U>Property</U>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">B.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Property, together with the Asset-Related Property (as defined below) shall be referred to herein, collectively, as
the &ldquo;<U>Assets</U>&rdquo;.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">C.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Seller desires to sell to Buyer, and Buyer desires to purchase from Seller, Seller&rsquo;s right, title and interest in
the Assets on the terms and conditions hereinafter set forth.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">D.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Concurrently with the execution and delivery of this Agreement, certain shareholders of Parent have entered into a voting
and support agreement, dated as of the date hereof, in substantially the form set forth in <U>Exhibit K</U>, pursuant to which,
among other things, such shareholders have agreed to vote their shares of Parent Common Stock in favor of adoption of this Agreement
and the approval of the transactions contemplated hereby as set forth therein (the &ldquo;<U>Voting Agreement</U>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>AGREEMENT</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">NOW, THEREFORE, in consideration of the
mutual covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereby agree as follows:</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;I</FONT><U><BR>
DEFINITIONS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;1.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Defined Terms</U>. The capitalized terms used herein will have the following meanings.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>11500 Crossroads Property</U>&rdquo;
shall mean the individual Property located at 11500 Crossroads Circle, Middle River, Maryland 21220.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>AC Lease</U>&rdquo; shall mean
that certain Lease Agreement, by and between FRP Hollander 95, LLC and Architectural Ceramics, Inc., dated March 18, 2013, as amended
by First Amendment to Lease dated June 7, 2013, as amended by Commencement Agreement dated August 5, 2013, and as amended by Second
Amendment to Lease dated August 5, 2013.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>AC Property</U>&rdquo; shall
mean 1901 62nd Street, Baltimore, Maryland 21237.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Acceptable Confidentiality Agreement</U>&rdquo;
shall mean a confidentiality and standstill agreement that contains confidentiality provisions that are no less favorable in any
material respect to Parent than those contained in that certain Confidentiality Agreement dated August 8, 2017.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Access Agreement</U>&rdquo; shall
have the meaning assigned thereto in Section 7.1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Acquisition Proposal</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;14.2(g).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Additional Rent</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;10.1(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Adverse
Recommendation Change</U>&rdquo; shall have the meaning assigned thereto in Section&nbsp;14.2(c).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Affiliate</U>&rdquo;
shall mean any Person, from time to time, that directly or indirectly through one or more intermediaries, controls, is controlled
by or is under common control with another Person. The term &ldquo;control&rdquo; shall mean the possession, direct or indirect,
of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting
securities, by contract or otherwise, and shall in any event include the ownership or power to vote fifty percent (50%) or more
of the outstanding equity or voting interests, respectively, of such other Person.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Affiliate Agreement</U>&rdquo;
shall mean any agreement, license or contract, whether written or oral, relating to the operation, maintenance or management of
the Asset or any portion thereof by and among Seller and/or any other Affiliate of Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Agreement</U>&rdquo; shall mean
this Agreement of Purchase and Sale, together with the Exhibits and Schedules attached hereto, as the same may be amended, restated,
supplemented or otherwise modified from time to time in accordance with the terms hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Allocated Asset Value</U>&rdquo;
shall mean the value allocated among the Assets as set forth on <U>Schedule 2.2(a)</U> hereto opposite the name of such Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Allocated Earnest Money</U>&rdquo;
shall mean the portion of the Earnest Money allocated among the Assets as set forth on <U>Schedule 2.2(a)</U> hereto opposite the
name of such Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Alternative Acquisition Agreement</U>&rdquo;
shall have the meaning assigned thereto in Section 14.2(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Anti-Bribery, Anti-Money Laundering
and Anti-Terrorism Laws</U>&rdquo; shall have the meaning assigned thereto in Section&nbsp;3.1(f)(i).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Applicable Law</U>&rdquo; shall
mean all statutes, laws, common law, rules, regulations, ordinances, codes or other legal requirements of any Governmental Authority,
board of fire</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">underwriters and similar quasi-governmental agencies or entities,
and any judgment, injunction, order, directive, decree or other judicial or regulatory requirement of any Governmental Authority
of competent jurisdiction affecting or relating to the Person or property in question.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Asset-Related Property</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;2.1(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Assets</U>&rdquo; shall have
the meaning assigned thereto in &ldquo;Background&rdquo; paragraph B.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Assignment of Contracts</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;6.1(a)(ii).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Assignment of Leases</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;6.1(a)(i).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Assignment of Licenses, Permits,
Warranties and General Intangibles</U>&rdquo; shall have the meaning assigned thereto in Section&nbsp;6.1(a)(iv).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Association</U>&rdquo; shall
have the meaning assigned thereto in Section 3.2(n).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Association Documents</U>&rdquo;
shall have the meaning assigned thereto in Section 3.2(n).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Association Estoppel</U>&rdquo;
shall have the meaning assigned thereto in <U>Section 3.3(h)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Assumed Contracts</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;4.2.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Basket Limitation</U>&rdquo;
shall mean an amount equal to $175,000.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Broker</U>&rdquo; shall mean
Eastdil Secured, L.L.C.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Business
Day</U>&rdquo; shall mean any day other than a Saturday, Sunday or other day on which banks are authorized or required by Applicable
Law to be closed in the city of New York, New York.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Buyer</U>&rdquo;
shall have the meaning assigned thereto in the Preamble to this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Buyer-Related Entities</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;11.1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Buyer&rsquo;s Knowledge</U>&rdquo;
shall mean the actual knowledge of Buyer based upon the actual knowledge of David Levine. The named individual shall have no personal
liability by virtue of inclusion in this definition.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Buyer&rsquo;s Leasing Costs</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;10.5.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Cap Limitation</U>&rdquo; shall
mean an amount equal to $10,767,000.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Capital Expenditures Work</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.3(f).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Claim Notice</U>&rdquo; shall
have the meaning assigned thereto in Section 11.5.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Claims</U>&rdquo; shall have
the meaning assigned thereto in Section 7.3.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Closing</U>&rdquo; shall have
the meaning assigned thereto in Section&nbsp;2.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Closing Date</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;2.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Closing Documents</U>&rdquo;
shall mean any certificate, assignment, instrument or other document delivered pursuant to this Agreement, including, without limitation,
each of the documents to be delivered by Seller pursuant to Section&nbsp;6.2 and by Buyer pursuant to Section&nbsp;6.1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Closing Statement</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;6.1(b)(ii).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Code</U>&rdquo; shall mean the
United States Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Contractor</U>&rdquo; shall have
the meaning assigned thereto in Section 3.5(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Contracts</U>&rdquo;
</FONT>shall mean, collectively, all agreements or contracts of Seller, or entered into on behalf of Seller, relating to the ownership
or operation of the Property, but excluding the Space Leases, the New Leases, any Affiliate Agreement and any written agreement
or contract relating to any existing financing encumbering any of the Property<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Crossroads
Outparcel</U>&rdquo; shall mean</FONT> Parcel A as shown on Plat One of Two entitled &ldquo;Windlass Run Business Park&rdquo; dated
November 16, 2007 prepared by George William Stephens, Jr. and Associates, Inc. recorded April 8, 2008 in SM 78 Page 344, Land
Records of Baltimore County, Maryland.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Crossroads
Parking Parcel</U>&rdquo; shall mean</FONT> that certain portion of the Crossroads Outparcel marked in red on the survey depicted
on <U>Schedule 1.1(g)</U> hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Deed</U>&rdquo;
shall have the meaning assigned thereto in </FONT>Section&nbsp;6.2(a)(i)<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Earnest Money</U>&rdquo; shall
have the meaning assigned thereto in Section 2.2(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Earnest Money Escrow Account</U>&rdquo;
shall have the meaning assigned thereto in Section 16.5(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Effective Date</U>&rdquo; shall
mean the date of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Employee</U>&rdquo; means any
individual currently or previously employed by any Person to provide services at or with respect to the Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Employee Benefit Plans</U>&rdquo;
means all employee benefit plans, as that term is defined in Section 3(3) of ERISA, and all other employment, severance pay, salary
continuation,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">bonus, incentive, stock option, stock purchase, retirement,
pension, welfare, training, vacation, fringe benefit, profit sharing, deferred compensation and other employee benefit plans, policies,
programs, agreements or arrangements of any kind, in each case, for the benefit of any Employee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Environmental Claims</U>&rdquo;
means any claim for reimbursement or remediation expense, contribution, personal injury, property damage or damage to natural resources
made by any Governmental Authority or other Person arising from or in connection with the presence or release of any Hazardous
Materials over, on, in or under any Property, or the violation of any Environmental Laws with respect to any Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Environmental Laws</U>&rdquo;
shall mean any Applicable Laws which regulate or control (i) Hazardous Materials, pollution, contamination, noise, radiation, water,
soil, sediment, air or other environmental media, or (ii) an actual or potential spill, leak, emission, discharge, release or disposal
of any Hazardous Materials or other materials, substances or waste into water, soil, sediment, air or any other environmental media,
including, without limitation, (A) the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. &sect; 9601
et seq., (B) the Resource Conservation and Recovery Act, 42 U.S.C. &sect; 6901 et seq., (C) the Federal Water Pollution Control
Act, 33 U.S.C. &sect; 2601 et seq., (D) the Toxic Substances Control Act, 15 U.S.C. &sect; 2601 et seq., (E) the Clean Water Act,
33 U.S.C. &sect; 1251 et seq., (F) the Clean Air Act, 42 U.S.C. &sect; 7401 et seq., (G) the Hazardous Materials Transportation
Act, 49 U.S.C. &sect; 1801 et seq., and (H) the Occupational Safety and Health Act, 29 U.S.C. &sect; 651 et seq. and similar state
and local Applicable Law, as amended from time to time, and all regulations, rules and guidance issued pursuant thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Environmental Liabilities</U>&rdquo;
means any liabilities or obligations of any kind or nature imposed on the Person in question pursuant to any Environmental Laws,
including, without limitation, any (i) obligations to manage, control, contain, remove, remedy, respond to, clean up or abate any
actual or potential release of Hazardous Materials or other pollution or contamination of any water, soil, sediment, air or other
environmental media, whether or not located on any Property and whether or not arising from the operations or activities with respect
to any Property, and (ii) liabilities or obligations with respect to the manufacture, generation, formulation, processing, use,
treatment, handling, storage, disposal, distribution or transportation of any Hazardous Materials.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Environmental Reports</U>&rdquo;
shall have the meaning assigned thereto in Section 3.2(l).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>ERISA</U>&rdquo; hall have the
meaning assigned thereto in Section 3.1(h).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Escrow Agent</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;2.2(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Escrowed Funds</U>&rdquo; shall
have the meaning assigned thereto in Section 16.5(c).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Exchange Act</U>&rdquo; shall
mean means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Excluded Assets</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;2.1(c).</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Excluded Option Property</U>&rdquo;
shall have the meaning assigned thereto in Section 9.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Executive Order</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;3.1(f)(i).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Existing Casualty / Condemnation</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.2(d).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Existing Lease</U>&rdquo; shall
mean a Space Lease in existence as of the Effective Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Existing Mortgage</U>&rdquo;
shall mean, collectively, those certain mortgages, deeds of trust and similar documents listed on <U>Schedule 1.1(a)</U> hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Fixed Rents</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;10.1(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Government List</U>&rdquo; shall
mean any of (i) the Denied Persons List and the Entities List maintained by the United States Department of Commerce, (ii) the
Specially Designated Nationals and Blocked Persons List, the Sectoral Sanctions Identifications List, and the Foreign Sanctions
Evaders List maintained by OFAC, and (iii) the Foreign Terrorist Organizations List and Debarred Parties List maintained by the
United States Department of State.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Governmental Authority</U>&rdquo;
shall mean any federal, state or local government or other political subdivision thereof, including, without limitation, any agency
or entity exercising executive, legislative, judicial, regulatory or administrative governmental powers or functions, in each case
to the extent the same has jurisdiction over the Person or property in question.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Hazardous Materials</U>&rdquo;
shall mean means any hazardous or toxic substances, materials or waste, whether solid, semisolid, liquid or gaseous, including,
without limitation, asbestos, polychlorinated biphenyls, petroleum or petroleum by-products, radioactive materials, radon gas and
any other material or substance which is defined as or included in the definition of a &ldquo;hazardous substance&rdquo;, &ldquo;hazardous
waste&rdquo;, &ldquo;toxic waste&rdquo;, &ldquo;hazardous material&rdquo;, &ldquo;toxic pollutant&rdquo;, &ldquo;contaminant&rdquo;,
&ldquo;pollutant&rdquo; or &ldquo;toxic substance&rdquo; or words of similar import, under any Environmental Law or that could
result in the imposition of liability under any Environmental Laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Incentive Compensation Agreements</U>&rdquo;
shall mean those certain FRP Holdings, Inc. Executive Incentive Compensation Agreements and FRP Holdings, Inc. Employee Incentive
Compensation Agreements, each as set forth on <U>Schedule 1.1(e)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Indemnification Claim</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;11.5.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Indemnified Party</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;11.5.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Indemnifying Party</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;11.5.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Initial Closing Date</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;2.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&quot;<U>Inquiry</U>&quot; shall have the
meaning assigned thereto in Section&nbsp;14.2(a).</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Intervening Event</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;14.2(g).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>IRS</U>&rdquo; shall mean the
Internal Revenue Service.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>IRS Reporting Requirements</U>&rdquo;
shall have the meaning assigned thereto in Section 16.3(c).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Landlord Work</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;3.3(g).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Leasing Costs</U>&rdquo; shall
mean, with respect to a particular Space Lease, all capital costs and expenses incurred for capital improvements, equipment, painting,
decorating, partitioning and other items to satisfy the obligations of the landlord under such Space Lease (including any expenses
incurred for architectural or engineering services in respect of the foregoing); &ldquo;tenant allowances&rdquo; in lieu of or
as reimbursements for the foregoing items, payments made for purposes of satisfying or terminating the obligations of the tenant
under such Space Lease to the landlord under another lease (i.e., lease buyout costs), relocation costs; leasing commissions and
brokerage commissions; legal, design and other professional fees and costs; and free rent, rent abatements or other tenant inducements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Licenses and Permits</U>&rdquo;
shall have the meaning assigned thereto in Section 3.2(i).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>LOC Completion Conditions</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.5(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>LOC
Work Access Agreement</U>&rdquo;</FONT> shall mean that certain Access Agreement in the form of <U>Exhibit L</U> <FONT STYLE="background-color: white">to
be entered into at Closing</FONT>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>LOC Work Holdback</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.5(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>LOC Work Projects</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.5(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Losses</U>&rdquo; shall have
the meaning assigned thereto in Section&nbsp;11.1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Major Leases</U>&rdquo; shall
mean those certain Space Leases set forth on <U>Schedule 1.1(b)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Major Tenant</U>&rdquo; shall
mean the Tenants under those certain Space Leases set forth on <U>Schedule 1.1(b)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Material Casualty</U>&rdquo;
shall mean, with respect to any individual Property, any damage to all or a portion of any individual Property by fire or other
casualty that, (i) in the reasonable judgment of an independent third party selected by Buyer and reasonably acceptable to Seller
is expected to cost in excess of five percent (5%) of the Allocated Asset Value of such individual Property to repair or (ii) permits
any Major Tenant to terminate its Space Lease or abate rent pursuant to the terms of its Space Lease.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Material Condemnation</U>&rdquo;
shall mean, with respect to any individual Property, a taking or threatened taking that (i) results in a loss of more than seven
and one-half percent</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">(7.5%) of the aggregate square footage of such individual
Property, (ii) permits any Major Tenant to terminate its Space Lease, (iii) in Buyer&rsquo;s reasonable judgment, materially and
adversely affects the operations at or access to such Property or parking on any such Property or (iv) otherwise adversely impacts
the value of such Property by more than seven and one-half percent (7.5%) of the Allocated Asset Value for such Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Material Contracts</U>&rdquo;
shall mean all Contracts that are (i) not terminable as of right and without cause on thirty (30) days&rsquo; or less notice without
cost or penalty and (ii) require the payment by, or on behalf of, Seller of more than $50,000 with respect to the Property in any
calendar year.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Monetary Encumbrance</U>&rdquo;
shall have the meaning assigned thereto in Section 8.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Municipal Letter of Credit</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.2(s).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>New Contracts</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;3.3(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>New Lease</U>&rdquo; shall have
the meaning assigned thereto in Section&nbsp;10.5.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Non-Permitted Exceptions</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;8.2.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Notice of Change of Recommendation</U>&rdquo;
shall have the meaning assigned thereto in Section 14.2(d).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>OFAC</U>&rdquo; shall mean the
Office of Foreign Assets Control of the U.S. Department of the Treasury.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Option Inclusion Event</U>&rdquo;
shall have the meaning assigned thereto in Section 9.3(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0in"><FONT STYLE="background-color: white">&ldquo;<U>Options</U>&rdquo;</FONT>
shall have the meaning assigned thereto in Section 3.2(h).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0in"><FONT STYLE="background-color: white">&ldquo;<U>Outside
Closing Date</U>&rdquo; </FONT>shall have the meaning assigned thereto in Section 2.3(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Parent</U>&rdquo;
shall have the meaning assigned thereto in the Preamble to this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Parent
Board</U>&rdquo; shall mean the Board of Directors of Parent.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Parent
Board Recommendation</U>&rdquo; shall have the meaning assigned thereto in Section 3.1(i).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Parent
Bylaws</U>&rdquo; shall mean the Amended and Restated Bylaws of Parent, as amended and restated on February 3, 2016 and in effect
on the date hereof.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Parent
Charter</U>&rdquo; shall mean the Second Amended and Restated Articles of Incorporation of Parent, as amended, supplemented, corrected
and in effect on the date hereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Parent
Common Stock</U>&rdquo; shall mean the outstanding shares of common stock, $0.10 par value per share, of Parent.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Parent
Termination Fee</U>&rdquo; shall mean $22,500,000.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Permitted
Exceptions</U>&rdquo; shall mean all of the following: (i) the matters set forth in the Title Commitment or the Survey, (ii) liens
for current real estate taxes and special assessments which are not yet due and payable, (iii) standard pre-printed provisions
contained in the ALTA form of title insurance policies which the Title Company is unwilling to remove, (iv) rights of Tenants,
as tenants only without any right of first refusal, right of first offer or purchase option, under the Space Leases and any New
Lease entered into after the Effective Date in accordance with the terms of this Agreement, (v) any exceptions caused by Buyer
or its Affiliate or any of their agents, representatives or employees and (vi) such other exceptions as the Title Company shall
commit to insure over without any additional cost or liability to Buyer, but subject to Buyer&rsquo;s approval, whether such insurance
is made available in consideration of payment, bonding, indemnity of Seller. For the avoidance of doubt, in no event shall Permitted
Exceptions include any Non-Permitted Exceptions.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Person</U>&rdquo; shall mean
a natural person, partnership, limited partnership, limited liability company, corporation, trust, estate, association, unincorporated
association or other entity.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Personal Property</U>&rdquo;
shall have the meaning assigned there in Section&nbsp;2.1(b)(ii).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Post-Closing Escrow Accounts</U>&rdquo;
shall have the meaning assigned thereto in Section 16.5(c).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Post-Effective Date Voluntary
Encumbrance</U>&rdquo; shall have the meaning assigned thereto in Section&nbsp;8.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Property</U>&rdquo; shall have
the meaning assigned thereto in &ldquo;Background&rdquo; paragraph&nbsp;A.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Proxy Statement</U>&rdquo; shall
mean a proxy statement in preliminary and definitive form (as applicable) relating to the Shareholder Meeting, together with any
amendments or supplements thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Purchase Price</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;2.2(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>REAs</U>&rdquo; shall have the
meaning assigned thereto in Section 3.2(m).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>REA Estoppel</U>&rdquo; shall
have the meaning assigned thereto in <U>Section 3.3(i)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Reimbursement Amount</U>&rdquo;
shall have the meaning assigned thereto in Section 2.3(b).</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Releasees</U>&rdquo; shall have
the meaning assigned thereto in Section 7.3.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Rents</U>&rdquo; shall have the
meaning assigned thereto in <FONT STYLE="background-color: white">Section&nbsp;10.1(a)</FONT>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Reporting Person</U>&rdquo; shall
have the meaning assigned thereto in Section 16.3(c).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&quot;<U>Representative</U>&quot; means,
with respect to any Person, such Person's directors, officers, employees, advisors (including attorneys, accountants, consultants,
investment bankers and financial advisors), agents and other representatives.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Representative Seller</U>&rdquo;
shall have the meaning assigned thereto in Section 16.9.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Required Association Estoppel</U>&rdquo;
shall have the meaning assigned thereto in <U>Section 3.3(h)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Required Tenant Estoppels</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.4(c).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Sanctioned Country</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;3.1(f)(iii).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Sanctions</U>&rdquo; shall have
the meaning assigned thereto in Section&nbsp;4.1(f)(iii).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>SD
Letters of Credit</U>&rdquo; shall have the meaning assigned thereto in Section 10.1(a).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>SEC</U>&rdquo;
shall mean the U.S. Securities and Exchange Commission (including the staff thereof).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Securities
Act</U>&rdquo; shall mean the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Security
Deposits</U>&rdquo;</FONT> shall have the meaning assigned there in Section 2.1(b)(vii).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Seller</U>&rdquo; shall have
the meaning assigned thereto in the Preamble to this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Seller-Related Entities</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;11.2.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Seller&rsquo;s Actual Reimbursable
Tenant Expenses</U>&rdquo; shall have the meaning assigned thereto in Section 10.1(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Seller&rsquo;s Actual Tenant
Reimbursements</U>&rdquo; shall have the meaning assigned thereto in Section 10.1(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Seller&rsquo;s Knowledge</U>&rdquo;
shall mean the actual knowledge of Seller based upon the actual knowledge of David deVilliers Jr, David deVilliers, III and John
Baker III. The named individuals shall have no personal liability by virtue of inclusion in this definition.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Seller&rsquo;s Leasing Costs</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;10.5.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Seller&rsquo;s Reconciliation
Statement</U>&rdquo; shall have the meaning assigned thereto in Section 10.1(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Shareholder Approval</U>&rdquo;
shall have the meaning assigned thereto in Section 3.1(j).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Shareholder Meeting</U>&rdquo;
shall mean the meeting of the holders of shares of Parent Common Stock for the purpose of seeking the Shareholder Approval, including
any postponement or adjournment thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>SNDA</U>&rdquo; shall have the
meaning assigned thereto in Section 3.3(a)(x).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Space Leases</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;3.2(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Superior Proposal</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;14.2(g).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Survey</U>&rdquo; shall mean,
collectively, those certain surveys of the Property listed on Schedule 1.1(c) hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Survival Period</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;11.4.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Tax Return</U>&rdquo; shall mean
any return, declaration, report, claim for refund or information return or statement relating to Taxes filed or required to be
filed with any Governmental Authority, including any schedule or attachment thereto, and including any amendment thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Taxes</U>&rdquo; shall mean all
U.S. federal, state, or local or non-U.S. taxes, charges, fees, levies or other assessments, including income, gross income, gross
receipts, production, excise, employment, sales, use, transfer, ad valorem, value added, goods and services, profits, license,
capital stock, capital gains, environmental, franchise, severance, occupation, stamp, withholding, Social Security, employment,
unemployment, disability, worker&rsquo;s compensation, payroll, utility, windfall profit, custom duties, personal property, real
property, escheat, taxes required to be collected from customers on the sale of services, registration, alternative or add-on minimum,
estimated, and other taxes, customs, duties, governmental fees or like assessments or charges of any kind whatsoever, including
any interest, penalties, related liabilities or additions thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Tenant</U>&rdquo; shall mean
a tenant under a Space Lease.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Tenant Estoppel</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;3.4(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Tenant Leased Square Footage</U>&rdquo;
shall mean the total square footage of the Property leased by Tenants.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Tenant Notices</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;6.1(a)(iii).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Title Affidavit</U>&rdquo; <FONT STYLE="background-color: white">shall
have the meaning assigned thereto in Section 8.5.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Title Commitment</U>&rdquo; shall
mean those certain owner&rsquo;s title commitments issued by the Title Company, as listed on Schedule 1.1(d) hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Title Company</U>&rdquo; shall
mean (i) Old Republic National Title Insurance Company and (ii) Stewart Title Insurance Company, through their agent Lexington
National Land Services L.L.C., Attention: Harry Hayes, Esq.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Title Defect</U>&rdquo; shall
have the meaning assigned thereto in Section&nbsp;8.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Title Defect Notice</U>&rdquo;
shall have the meaning assigned thereto in Section&nbsp;8.3(a).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Title
Policy</U>&rdquo; shall mean, with respect to each individual Property, an ALTA owner&rsquo;s title insurance policy issued by
the Title Company insuring Buyer&rsquo;s title to the Property subject only to the Permitted Exceptions in an amount equal to the
applicable </FONT>Allocated Asset Value<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Transfer
Tax Forms</U>&rdquo; shall have the meaning assigned thereto in Section 6.1(b)(i).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&ldquo;<U>Violations</U>&rdquo; shall mean
all violations of Applicable Law relating to the Property now or hereafter issued or noted, including but not limited to (i) any
open or expired building permits, (ii) building, zoning or fire code violations, (iii) insufficient or missing parking or parking
striping necessary to comply with parking requirements under Applicable Law, and any fines or penalties associated with each of
the foregoing. For the avoidance of doubt, existing Violations shall include, but not be limited to, those listed on <U>Schedule
1.1(f)</U> hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Voluntary
Encumbrance</U>&rdquo; shall mean any title exception affecting the Property that is voluntarily granted or created by, through
or under Seller; provided, however, that the term &ldquo;Voluntary Encumbrances&rdquo; as used in this Agreement shall not include
any Permitted Exceptions.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&quot;<U>Withholding Form</U>&quot; <FONT STYLE="background-color: white">shall
have the meaning assigned thereto in Section 16.24(a).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>Voting
Agreement</U>&rdquo; shall have the meaning assigned thereto in the &ldquo;Background&rdquo; paragraph D.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>YBR
Lease</U>&rdquo; shall have the meaning assigned thereto in Section 3.3(c)(ii).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>YBR
Property</U>&rdquo; shall have the meaning assigned thereto in Section 3.3(c)(ii).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="background-color: white">&ldquo;<U>YBR
Holdback</U>&rdquo; shall have the meaning assigned thereto in Section 10.9(b).</FONT></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;II</FONT><U><BR>
SALE, PURCHASE PRICE AND CLOSING</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Sale of Assets</U>.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>On the Closing Date and pursuant to the terms and subject to the conditions set forth in this Agreement, Seller shall
sell to Buyer, and Buyer shall purchase from Seller, Seller&rsquo;s right, title and interest in the Assets. It is understood and
agreed that the Closing of the purchase of the Assets shall occur contemporaneously and, except as explicitly set forth in this
Agreement, none of the purchases of the Assets shall close unless the purchases of all of the Assets close contemporaneously.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The transfer of the Assets to Buyer shall include the transfer of all Asset-Related Property. For purposes of this
Agreement, &ldquo;<U>Asset-Related Property</U>&rdquo; shall mean, with respect to the Property, all of Seller&rsquo;s right, title
and interest in and to the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">all easements, covenants, development rights, mineral rights and other rights
appurtenant to the Property and all right, title and interest of Seller, if any, in and to any land lying in the bed of any street,
road, avenue or alley, open or closed, in front of or adjoining the Property and to the center line thereof;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>all furniture, fixtures, equipment and other personal property which are now, or may hereafter prior to the Closing
Date be, placed in or attached to the Property or used solely in connection with the operation, use or maintenance of the Property
(but not including items owned or leased by Tenants, or which are leased by Seller) (the &ldquo;<U>Personal Property</U>&rdquo;)<FONT STYLE="background-color: white">;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">to the extent they may be transferred under Applicable Law, all licenses, permits
and authorizations presently or hereafter issued in connection with the operation or development of all or any part of the Property
as it is presently being operated;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">to the extent assignable, (A) all warranties, if any, issued to Seller or any
Affiliate of Seller from any manufacturer, contractor, engineer or architect in connection with construction of any improvements
or installation of equipment or any component of the improvements included as part of the Property and (B) all warranties assigned
to Seller when it acquired the Asset;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">to the extent assignable, all other intangibles associated with the Properties,
including, without limitation, all logos, designs, trade names, building names related to the Property (but not including the names
FRP Holdings, FRP Development or Florida Rock Properties) and other general intangibles relating to the Property, and all telephone
exchange numbers specifically dedicated and identified with the Properties;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">the plans and specifications, engineering drawings and prints with respect
to the improvements, all operating manuals, and all books, data and records regarding the physical components systems of the improvements
at the Properties, each to the extent in Seller&rsquo;s possession (or reasonably obtainable by Seller); </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">all Space Leases and Assumed Contracts and all security and escrow deposits
and letters of credit held by Seller in connection with any such Space Lease (including accrued interest thereon) whether in the
form of cash, letter of credit or otherwise (the, &ldquo;<U>Security Deposits</U>&rdquo;); and</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">all books and records, tenant files, tenant lists and marketing information
relating to the Property.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding anything to the contrary contained in this Agreement, it is expressly agreed by the parties hereto
that the following items are expressly excluded from the Assets to be sold to Buyer (collectively, the &ldquo;<U>Excluded Assets</U>&rdquo;):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Cash</U>. All cash on hand or on deposit in any operating account or other account maintained in connection with
the ownership, operation or management of the Property or the Assets;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Third Party Property</U>. Any fixtures, personal property, equipment, artwork, trademarks or other intellectual
property or other assets which are (A) owned or leased by (x) the supplier or vendor under any Contract or (y) Tenants or (B) leased
by Seller; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Other</U>. The rights and entitlements set forth in <U>Schedule 2.1(c)(iii)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Purchase Price</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Subject to the adjustments, prorations, credits and exclusions provided for in this Agreement, the consideration
to be paid by Buyer to Seller for the purchase of the Assets shall be an amount equal to Three Hundred Fifty Eight Million Nine
Hundred Thousand Dollars ($358,900,000.00), as such amount may be reduced by the Allocated Asset Value of any Property excluded
from the transactions hereunder pursuant to the express terms of this Agreement (the &ldquo;<U>Purchase Price</U>&rdquo;), and
shall be paid by Buyer to Seller on the Closing Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Within two (2) Business Days after the execution of this Agreement by Seller and Buyer, Buyer shall deliver cash
in an amount equal to Fourteen Million Three Hundred Fifty Six Thousand Dollars ($14,356,000.00) (together with all accrued interest
thereon, the &ldquo;<U>Earnest Money</U>&rdquo;) in immediately available funds by wire transfer to Old Republic National Title
Insurance Company, as escrow agent (in such capacity, &ldquo;<U>Escrow Agent</U>&rdquo;). The Earnest Money shall be non-refundable
to Buyer except as expressly provided in this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Upon delivery by Buyer to Escrow Agent, the Earnest Money will be deposited by Escrow Agent in the Earnest Money
Escrow Account, and shall be held in escrow in accordance with the provisions of Section 16.5. All interest earned on the Earnest
Money while held by Escrow Agent shall be paid to the party to whom the Earnest Money is paid, except that if the Closing occurs,
Buyer shall receive a credit against the Purchase Price for such interest in accordance with the terms of this Agreement. At the
Closing, Buyer shall deposit with Escrow Agent, by wire transfer of immediately available funds, an amount equal to (A) the Purchase
Price subject to the adjustments as specifically provided hereunder <U>minus</U> (B) the Earnest Money.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>No adjustment shall be made to the Purchase Price except as explicitly set forth in this Agreement. Seller and Buyer
hereby agree that any adjustments to the Purchase Price pursuant to this Agreement shall be treated as an adjustment to the Purchase
Price for tax purposes, unless otherwise required by Applicable Law.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Seller and Buyer hereby agree that the Purchase Price shall be allocated among the Property in accordance with the
Allocated Asset Values for federal, state and local tax purposes in accordance with applicable U.S. federal tax law and analogous
provisions of state or local Applicable Law. Seller and Buyer shall file all Tax Returns and related tax documents in accordance
with such Allocated Asset Values. No portion of the Purchase Price is to be allocated to Personal Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>This Agreement is intended to be a single unitary agreement, Seller is required to sell all of the Property to Buyer
pursuant to the terms and provisions of this Agreement, and Buyer is required to purchase all of the Property from Seller pursuant
to the terms and provisions of this Agreement, unless otherwise required by Applicable Law and except to the extent a Property
is excluded from the transaction contemplated hereby pursuant to the express terms of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;2.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>The Closing</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The closing of the sale and purchase of the Assets (the &ldquo;<U>Closing</U>&rdquo;) shall take place on the later
of (i) sixty (60) days after the Effective Date and (ii) three (3) Business Days after the date on which the Shareholder Approval
is obtained (the &ldquo;<U>Initial Closing Date</U>&rdquo;); <U>provided</U>, <U>however</U>, Seller shall have the right to adjourn
the Initial Closing Date as provided in Section&nbsp;8.3(a) hereto (the Initial Closing Date, as the same may be extended pursuant
to this Section&nbsp;2.3(a) and/or Section&nbsp;8.3(a), being hereinafter referred to as the &ldquo;<U>Closing Date</U>&rdquo;).
<B>TIME SHALL BE OF THE ESSENCE WITH RESPECT TO BUYER&rsquo;S AND SELLER&rsquo;S OBLIGATIONS UNDER THIS AGREEMENT </B>(subject
to such adjournments of the Closing Date as are expressly permitted by this Agreement).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding the foregoing, in the event that Shareholder Approval is not obtained before August 19, 2018 (the
&ldquo;<U>Outside Closing Date</U>&rdquo;), Buyer shall have the right to terminate this Agreement upon written notice to Seller
and upon such termination (i) the Earnest Money shall be immediately returned to Buyer, (ii) Seller shall pay to Buyer within five
(5) Business Days of the Outside Closing Date an amount equal to all out-of-pocket costs and expenses incurred by Buyer and its
Affiliates in connection with the transactions contemplated hereunder (the &ldquo;<U>Reimbursement Amount</U>&rdquo;) and (iii)
the parties shall not have any further rights or obligations hereunder except such rights and obligations that expressly survive
termination of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Closing shall be held on the Closing Date at 3:00 P.M. (New York Time) by mutually acceptable escrow arrangements.
There shall be no requirement that Seller and Buyer physically attend the Closing, and all funds and documents to be delivered
at the Closing shall be delivered to the Escrow Agent unless the parties hereto mutually agree otherwise. Buyer and Seller hereby
authorize their respective attorneys to execute and deliver to the Escrow Agent any additional or supplementary instructions as
may be necessary or convenient to implement the terms of this Agreement and facilitate the closing of the transactions contemplated
hereby, <U>provided</U>, <U>however</U>, that such instructions are consistent with and merely supplement this Agreement and shall
not in any way modify, amend or supersede this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT></P>


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<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Section&nbsp;2.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Withholding</U>. Buyer shall be entitled to deduct and withhold any amounts from the consideration payable to
Seller pursuant to this Agreement that are required to be withheld with respect to the making of any such payment under the Code,
or any provision of state, local or foreign Applicable Law. To the extent that such amounts are so withheld and paid over to the
proper Governmental Authority by Buyer, such withheld and deducted amounts will be treated for all purposes of this Agreement
as having been paid to the Person in respect of which such deduction and withholding was made.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;III</FONT><U><BR>
REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PARENT</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;3.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>General Seller and Parent Representations and Warranties</U>. Parent is making only those representations and
warranties that apply specifically to Parent and Parent Board (but not the Assets). Seller and Parent hereby represent and warrant
to Buyer as of the Effective Date and as of the Closing Date as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Formation; Existence</U>. Each entity comprising Seller is a limited liability company duly formed, validly existing
and in good standing under the laws of Maryland and is qualified to do business in the state in which it owns any Property. Parent
is a corporation duly formed, validly existing and in good standing under the laws of the state of Florida.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Power and Authority</U>. Each of Seller and Parent has all requisite power
and authority to enter into this Agreement and, subject to receipt of the Shareholder Approval, to perform its obligations hereunder
and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement by Seller and Parent, and
subject to the receipt of the Shareholder Approval, the performance and consummation of the transactions provided for in this Agreement
has been duly authorized by all necessary action on the part of Seller and Parent. This Agreement has been duly executed and delivered
by Seller and Parent and constitutes Seller&rsquo;s and Parent&rsquo;s legal, valid and binding obligation, enforceable against
Seller and Parent in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors&rsquo; rights and by general principles of equity (whether applied in a proceeding
at law or in equity).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Consents</U>. Except (i) with respect to the Shareholder Approval and the filing with the SEC of the Proxy
Statement and (ii) as set forth on <U>Schedule 3.1(c)</U>, no consent, license, approval, order, permit or authorization of, or
registration, filing or declaration with, any court, administrative agency or commission or other Governmental Authority or instrumentality,
domestic or foreign, or any third party, is required to be obtained or made in connection with the execution, delivery and performance
of this Agreement by Seller or Parent or any of Seller&rsquo;s or Parent&rsquo;s obligations in connection with the transactions
required or contemplated hereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Conflicts</U>. Seller&rsquo;s and Parent&rsquo;s execution, delivery and compliance with, and performance of
the terms and provisions of this Agreement, and the sale of the Assets, will not, assuming receipt of the Shareholder Approval
(i) conflict with or result in any violation of its organizational documents, (ii) conflict with or result in any violation of
any provision of any bond, note or other instrument of indebtedness, contract, indenture, mortgage, deed of trust,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">loan agreement, lease or other agreement or instrument to
which Seller or Parent is a party or which is binding on Seller or Parent in its individual capacity or the Assets or any portion
thereof, or (iii) violate any Applicable Law relating to Seller, Parent or their assets or properties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Bankruptcy</U>. Seller (i) is not a debtor under any bankruptcy proceedings, voluntary or involuntary, (ii) has
not made an assignment for the benefit of creditors, (iii) has not suffered the appointment of a receiver to take possession of
all, or substantially all, of Seller&rsquo;s assets, which remains pending or (iv) suffered the attachment or other judicial seizure
of all, or substantially all of Seller&rsquo;s assets, which remains pending, and to Seller&rsquo;s Knowledge, no such action is
being threatened against Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Anti-Terrorism Laws</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Seller nor, to Seller&rsquo;s Knowledge, any of its subsidiaries, officers, directors, employees or agents,
is in violation of any Applicable Laws relating to anti-corruption, anti-bribery, terrorism, money laundering or the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Action of 2001, Public Law 107-56,
as amended, and Executive Order No. 13224 (Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to
Commit, or Support Terrorism) (the &ldquo;<U>Executive Order</U>&rdquo;) (collectively, the &ldquo;<U>Anti-Bribery, Anti-Money
Laundering and Anti-Terrorism Laws</U>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Seller nor, to Seller&rsquo;s Knowledge, any of its subsidiaries, officers, directors, employees or agents,
is acting, directly or indirectly, on behalf of terrorists, terrorist organizations or narcotics traffickers, including those Persons
or entities that appear on the Annex to the Executive Order, or are included on any Government Lists.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Seller, nor to Seller&rsquo;s Knowledge, any of its subsidiaries, officers, directors, employees or agents,
is a Person named on a Government List<FONT STYLE="background-color: white">, </FONT>or is acting for or on behalf of any country
or territory subject to comprehensive economic sanctions (as of the Effective Date and without limitation, Cuba, Iran, North Korea,
Syria, and the Crimea region of Ukraine) (each a &ldquo;<U>Sanctioned Country</U>&rdquo;)<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Seller, nor any Person controlling or controlled by Seller, is the target of Sanctions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Foreign Person</U>. Seller is not a &ldquo;foreign person&rdquo; as defined
in </FONT>Section 1445 of the Code <FONT STYLE="background-color: white">and the regulations issued thereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>ERISA</U>.</FONT> Seller is not, and no portion of the Property constitutes
the assets of, a &ldquo;benefit plan investor&rdquo; within the meaning of Section 3(42) of the Employee Retirement Income Security
Act of 1974, as amended (&ldquo;<U>ERISA</U>&rdquo;), and the regulations thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Parent Board Recommendation</U>. The Parent Board has (i) determined that this Agreement and the transactions
contemplated hereby is advisable and in the best interests of Parent and the holders of Parent Common Stock, (ii) approved, adopted
and declared advisable this Agreement and the transactions contemplated hereby, (iii) directed that this Agreement, including the
transactions contemplated hereby, be submitted to a vote of the holders of Parent</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Common Stock, and (iv) resolved to recommend that holders
of Parent Common Stock vote in favor of approval and adoption of this Agreement, including the transactions contemplated hereby
(such recommendation, the &quot;<U>Parent Board Recommendation</U>&quot;), which resolutions were duly adopted and which remain
in full force and effect and have not been subsequently rescinded, modified or withdrawn in any way, except as may be permitted
after the date hereof by Section 14.2.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Approval Required</U>. The affirmative vote of the majority of all the votes entitled to be cast on the transaction
at the Shareholder Meeting (the &quot; <U>Shareholder Approval</U>&quot;) is the only vote of holders of securities of Parent required
to approve this Agreement and the transactions contemplated hereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Fairness Opinion. </U>The Parent Board has received the opinion of Houlihan Lokey Capital, Inc. to the effect
that, as of the date of such opinion and based upon and subject to the various matters, limitations, qualifications and assumptions
set forth therein, the Purchase Price provided for pursuant to this Agreement is fair, from a financial point of view, to the Parent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;3.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Representations and Warranties of Seller as to the Assets</U>. Seller hereby represents and warrants to Buyer
as of the Effective Date and as of the Closing Date as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Material Contracts</U>. Except as set forth on <U>Schedule&nbsp;3.2(a)</U>,
there are no Material Contracts affecting the Property, and the same have not been amended, supplemented or otherwise modified,
except as shown in such <U>Schedule&nbsp;3.2(a)</U>. Seller has delivered or made available to Buyer true and complete copies of
the Material Contracts affecting the Property. Each of the Material Contracts are in full force and effect, Seller has not given
nor received any written notice of breach or default under any such Material Contracts that has not been cured or rescinded, and
to Seller&rsquo;s Knowledge, there exists no circumstance or event which, with the giving of notice or passage of time, or both,
would constitute a default by either Seller or a counterparty under any Material Contract.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Space Leases</U>. (i) The documents listed on <U>Schedule&nbsp;3.2(b-1)</U> (the &ldquo;<U>Space Leases</U>&rdquo;)
constitute all the leases, licenses and occupancy agreements relating to the Property under which Seller is the holder of the landlord&rsquo;s
interest, (ii) the Space Leases have not been modified or amended except as stated in <U>Schedule&nbsp;3.2(b-1)</U>, (iii) the
Space Leases contain the entire agreement between the relevant landlord and the Tenants named therein and (iv) except as set forth
in <U>Schedule&nbsp;3.2(b-2)</U>, Rents are currently being collected under the Space Leases without offset, counterclaim or deduction,
and there are no prepaid Rents. True and complete copies of the Space Leases have been made available to Buyer. <U>Schedule&nbsp;3.2(b-3)</U>
is a true and complete list of all Leasing Costs with respect to the Space Leases or any renewal thereof. <U>Schedule 3.2(b-4)</U>
sets forth a true and complete list of all Security Deposits (specifying (x) whether in the form of cash, letter of credit or otherwise
and (y) both the amount required under the applicable Space Lease and the unapplied amount thereof) held by Seller under the Space
Leases. <FONT STYLE="background-color: white">Except as set forth on <U>Schedule&nbsp;3.2(b-5)</U>, Seller has not delivered or
received a written notice of a default under any Space Lease which has not been cured or rescinded, and to Seller&rsquo;s Knowledge,
there exists no circumstance or event which, with the giving of notice or passage of</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="background-color: white">time, or both, would
constitute a default by either Seller or a Tenant under any Space Lease. To Seller&rsquo;s Knowledge, no Tenant has (i) filed for
bankruptcy or taken any similar debtor protection measure, (ii) discontinued operations at the Property or (iii) given Seller notice
of its intention to do so. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Brokerage Commissions</U>. <FONT STYLE="background-color: white">There are no brokerage commissions or finders&rsquo;
fees payable by Seller other than those set forth on <U>Schedule&nbsp;3.2(c)</U> and Seller does not have any agreement with any
broker except as set forth in <U>Schedule 3.2(c)</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Casualty; Condemnation</U>. Except as set forth on <U>Schedule&nbsp;3.2(d) </U>(each, an &ldquo;<U>Existing Casualty
/ Condemnation</U>&rdquo;), there is no unrepaired casualty damage to any Property and there are no pending condemnations, eminent
domain or similar proceedings affecting the Property, and to Seller&rsquo;s Knowledge, no such action is threatened against the
Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Litigation</U>. Except as set forth on <U>Schedule&nbsp;3.2(e)</U>, there are no litigations, actions, suits,
arbitrations, claims, government investigations, or proceedings pending or, to Seller&rsquo;s Knowledge, threatened against Seller
or the Assets. Seller is not a party to or subject to the provision of any judgment, order, writ, injunction, decree or award of
any Governmental Authority which would be reasonably likely to adversely affect (i) the ability of Seller to perform its obligations
hereunder, or (ii) the ownership or operation of the Assets.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Compliance with Law</U>. Seller has not received any notice of Violation with respect to the Property which has
not been cured or dismissed, and to Seller&rsquo;s Knowledge, the Property and the use thereof complies in all material respects
with Applicable Law.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Ownership of the Property</U>. Seller has good and valid title to the Property, which in each case shall be free
and clear of any lien, pledge, charge, security interest, encumbrance, title retention agreement, adverse claim or restriction
as of the Closing Date, except for the Permitted Exceptions. Seller has not pledged, assigned, hypothecated or transferred any
of its right, title or interest in any of the Property other than in connection with the Existing Mortgages. Seller has not entered
into any <FONT STYLE="background-color: white">unrecorded or undisclosed documents or other matters which will create any additional
exceptions to title to the Property,</FONT> a<FONT STYLE="background-color: white">nd to Seller&rsquo;s Knowledge, there are no
unrecorded or undisclosed documents or other matters which will affect title to the Property. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Options</U>. Except as set forth on <U>Schedule&nbsp;3.2(h)</U>, there are
no </FONT>outstanding <FONT STYLE="background-color: white">rights of first refusal, rights of first offer, purchase options or
similar rights relating to the Property or any interest therein (&ldquo;<U>Options</U>&rdquo;). Seller has complied in all respects
with any applicable requirements concerning the Options and, to Seller&rsquo;s Knowledge, (i) there exists no circumstance or event
which, with the giving of notice or passage of time, or both, would constitute a breach of such requirements and (ii) there exists
no circumstance or event </FONT>likely to give rise to a dispute <FONT STYLE="background-color: white">concerning the Options.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Licenses and Permits</U>. <U>Schedule 3.2(i) </U>sets forth a true, correct and complete list of the material
licenses and permits for the Property (the &ldquo;<U>Licenses and Permits</U>&rdquo;). To Seller&rsquo;s Knowledge, the Licenses
and Permits are all of the licenses, permits, approvals, qualifications and the like which are necessary for the ownership and
operation, maintenance and</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">management of the Property. The Licenses and Permits are
in full force and effect and no such Licenses and Permits are conditional or restricted.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Insurance</U>. <U>Schedule 3.2(j)</U> sets forth a true, correct and complete list of all insurance coverage maintained
by Seller or their Affiliates as of the Effective Date in connection with the Property and the operation thereof. All such insurance
coverage is in full force and effect (with no overdue premiums) in the amounts set forth on <U>Schedule 3.2(j</U>).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Construction</U>. There are no ongoing capital expenditure projects at the Property, except those projects described
on <U>Schedule 3.3(f)</U> and <U>Schedule 3.3(g)</U>. To Seller&rsquo;s Knowledge, there are no disputes pending between Seller
and any mechanic or materialman with respect to work or materials furnished to the Property, including but not limited to the Capital
Expenditures Work and Landlord Work, and to Seller&rsquo;s Knowledge no work which has been performed or materials which have been
supplied is likely to give rise to such a dispute. At the Closing, there will be no unpaid bills with respect to any work or materials
furnished to the Property under any Contract which, if unpaid, could result in a mechanics&rsquo; or materialmen&rsquo;s lien being
filed on the Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Environmental Matters</U>. <U>Schedule 3.2(l)</U> sets forth a true, correct and complete list of all environmental
assessments, reports and studies in Seller&rsquo;s possession relating to the Property (the &ldquo;<U>Environmental Reports</U>&rdquo;),
and Seller has made available to Buyer a true and complete copy of the Environmental Reports. Seller has not received notice from
any Governmental Authority or other Person of any Environmental Claims, Environmental Liabilities or violations of any Environmental
Laws with respect to the Property. To Seller&rsquo;s Knowledge, there has been no violation of any Environmental Laws at or relating
to the Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>REAs</U>. There are no reciprocal easement agreements, operating easement agreements, or covenants, conditions
and restrictions affecting the Property, other than those (i) disclosed in the Title Commitments or (ii) set forth on <U>Schedule
3.2(m)</U> (the &ldquo;<U>REAs</U>&rdquo;). To Seller&rsquo;s Knowledge, each of the REAs is in full force and effect. Seller has
not given or received any written notice of default under any REA and to Seller&rsquo;s Knowledge no default under the REAs exists.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Association</U>. The documents listed on <U>Schedule&nbsp;3.2(n)</U> (the &ldquo;<U>Association Documents</U>&rdquo;)
constitute all the association documents and all related by-laws relating to the Property. Seller has made available to Buyer or
caused the Title Company to make available to Buyer true, correct and complete copies of each Association Document. Seller has
not received or delivered any notice of default with respect to any association or organization created pursuant to any Association
Documents (&ldquo;<U>Association</U>&rdquo;). Other than as provided in the Association Documents, Seller has no other obligations
relating to the Associations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Taxes</U>. All Taxes due and payable with respect to the Property have been paid, and Seller has timely filed
all Tax Returns required to be filed with respect to the Property. Seller has not filed any Tax certiorari or other appeals with
respect to any Property which remains outstanding. Seller (i) is not a party to any action, suit, proceeding, investigation, audit
or claim with respect to any Taxes nor is aware of any proceeding by any Governmental</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Authority for enforcement of collection of Taxes, (ii) has
not granted any waiver of any statute of limitation with respect to, or any extension of a period for, the assessment of any Taxes,
and (iii) has not received any written notice of a special Tax or assessment to be levied (and does not have any knowledge that
a special Tax or assessment is contemplated), in each case with respect to any Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Affiliate Agreements</U>. <U>Schedule 3.2(p)</U> sets forth a true, correct and complete list of all Affiliate
Agreements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Employees</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>All individuals currently providing services, and who formerly provided services, at or with respect to the Property
are Employees of Seller or an Affiliate of Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Seller nor any Affiliate of Seller (x) is or has ever been party to or has or had any obligations with respect
to any collective bargaining or similar labor union agreement or arrangement with respect to any Employee or (y) sponsors, maintains
or contributes to (or has any obligation to contribute to) any Employee Benefit Plan, in the case of this clause (y), which will
be binding upon Buyer (or any Affiliate of Buyer) or with respect to which Buyer (or any Affiliate of Buyer) will have any liability
or obligation as of or following the Closing, and no such agreement, arrangement or Employee Benefit Plan as described in the foregoing
clauses (x) and (y) is presently being negotiated by Seller or any Affiliate of Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Seller nor any Affiliate of Seller (x) has received any written notice with respect to any litigation, action,
suit, arbitration, claim, government investigation or proceeding or (y) is party to or subject to the provision of any judgment,
order, writ, injunction, decree or award of any Governmental Authority, in each case of (x) and (y), with respect to any Employee,
Employee Benefit Plan or employment practice at or with respect to the Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Neighboring Land</U>. <U>Schedule 3.2(r)</U> sets forth a true, correct and complete list of all addresses of
the real property that are adjacent, contiguous or within a three mile radius of any Property that will be owned by Seller or any
Affiliate of Seller after Closing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Municipal Letters of Credit</U>. <U>Schedule 3.2(s)</U> sets forth a true, correct and complete list of all letters
of credit that Seller or any Affiliate of Seller has posted with respect to all or any portion of the Property (each, a &ldquo;<U>Municipal
Letter of Credit</U>&rdquo;), and Seller does not have any obligation to post any other letters of credit with respect to all or
any portion of the Property. Seller has not received any written notice of default under any Municipal Letter of Credit and to
Seller&rsquo;s Knowledge no default under any Municipal Letter of Credit exists.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;3.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Covenants of Seller Prior to Closing</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>From the Effective Date until the Closing or earlier termination of this Agreement, Seller or Seller&rsquo;s agents
shall:</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Operation</U>. Operate and maintain the Assets in accordance with this Agreement and substantially in accordance
with Seller&rsquo;s past practices with respect to the Assets, including performing the capital improvements or replacements to
the Property as required in the ordinary course of business and the Capital Expenditures Work and Landlord Work set forth in Section
3.3(f) and Section 3.3(g). Seller shall not (x) make any material changes or alterations of the Property without Buyer&rsquo;s
prior written consent, which consent may be given or withheld in Buyer&rsquo;s sole and absolute discretion, except for the Capital
Expenditures Work and Landlord Work or (y) remove any Personal Property from the Property, unless such item is replaced by an item
of similar condition, utility and value.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Encumbrances</U>. Not record or cause or permit to be recorded against any Property the encumbrance of any mortgages,
deeds of trust or other encumbrances, in each case without Buyer&rsquo;s prior written consent, which consent may be given or withheld
in Buyer&rsquo;s sole and absolute discretion.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Litigation; Condemnation</U>. Advise Buyer promptly of any litigation, arbitration proceeding or administrative
hearing (including condemnation) before any Governmental Authority that affects the Assets, which is instituted after the Effective
Date. Seller shall keep Buyer reasonably informed of the status of any litigation, arbitration proceeding or administrative hearing
(including condemnation), whether instituted before or after the Effective Date, and Seller shall not settle any such proceeding
or take any other action with respect thereto without Buyer&rsquo;s prior written consent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Violations</U>. Diligently and in a commercially reasonable manner work to cure, remove and/or close out by the
applicable municipal authority any Violations (which, for the avoidance of doubt, shall include bearing responsibility and paying
for any fees, fines or penalties in connection with such Violations).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Violation Notices</U>. Deliver to Buyer promptly after receipt thereof copies of any written notices of Violations
or other material written notices regarding the Property received by Seller or any Affiliate of Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Defaults</U>. Advise Buyer promptly of any notices of default delivered or received under any Space Lease, Contract,
Association Document or REA following the Effective Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Insurance</U>. Keep the Property insured in such amounts and under such terms as are substantially consistent
with Seller&rsquo;s existing insurance programs set forth on <U>Schedule 3.2(j)</U>, and promptly after the Effective Date, add
Buyer as an additional insured on any business interruption insurance policies affecting the Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Performance Under Agreements</U>. Perform, or cause its agents to perform, in all material respects, all obligations
of (A) landlord or lessor under the Space Leases and (B) counterparty under the Contracts, Association Documents and REAs.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ix)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Taxes, Charges, etc</U>. Continue to pay or cause to be paid all Taxes, and water and sewer charges in respect
of the Property, as they become due in the ordinary course of business.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>SNDAs</U>. Upon the written request of Buyer, Seller agrees to forward to each tenant under any Lease, at no cost
to Seller and solely as an accommodation to Buyer, a subordination, non-disturbance and attornment agreement in the form acceptable
to Buyer (a &ldquo;<U>SNDA</U>&rdquo;). It is expressly understood and agreed that the receipt of one or more SNDAs in any form
executed by Tenants shall not be a condition to Buyer&rsquo;s obligation to proceed with the Closing under this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(xi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Warranties</U>. Use commercially reasonable efforts, but at no cost to Seller, to have all roof warranties and
other warranties related to the Property assigned or re-issued to Buyer at Closing. In the event Seller is unable to assign such
warranties to Buyer as of the Closing, Seller shall continue to reasonably cooperate with Buyer to get such warranties assigned
or re-issued to Buyer, and Seller shall take all reasonable action, as directed by Buyer and at Buyer&rsquo;s sole cost and expense,
in connection with the enforcement of such warranties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(xii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Exclusivity</U>. From the Effective Date until the Closing or sooner termination of this Agreement, neither Seller
nor any agent, partner, employee, director or subsidiary or Affiliate of Seller shall accept or entertain offers, negotiate, solicit
interest or otherwise enter into discussions involving the sale, joint venture, recapitalization, restructuring, disposition or
other transaction involving all or any part of the Property (whether directly or indirectly).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>New Contracts</U>. Following the Effective Date until the Closing or earlier termination of this Agreement, without
the prior written consent of Buyer in its sole discretion, Seller shall not enter into any contracts, equipment leases or other
agreements affecting the Property that will not be terminated at or prior to the Closing Date at no expense to Buyer (&ldquo;<U>New
Contracts</U>&rdquo;) or amend, modify or terminate any Contracts; provided that Seller may enter into New Contracts or amend or
modify any Contracts without Buyer&rsquo;s consent if such action is necessary as a result of an emergency at the Property. If
Seller enters into any New Contracts or amends or modifies any Contract after the Effective Date, then Seller shall promptly provide
written notice and a copy thereof to Buyer and, unless such contract required Buyer&rsquo;s approval pursuant to this paragraph
and such approval was not obtained (or unless such contract was entered into without Buyer&rsquo;s consent as a result of an emergency),
Buyer shall assume such contract at Closing, the schedule of contracts attached to the Assignment of Contracts shall be so modified,
such contract shall be deemed added to <U>Schedule&nbsp;4.2</U>, and <U>Schedule&nbsp;4.2</U> shall be deemed amended at the Closing
to include such contract. If a New Contract or amendment or modification to a Contract requires Buyer&rsquo;s approval and Buyer
does not object within five (5) Business Days after receipt of a copy of such contract together with a written request for Buyer&rsquo;s
approval of such contract, then Buyer shall be deemed to have approved such contract.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Space Leases</U>.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Following the Effective Date until the Closing or earlier termination of this Agreement, without the prior written
consent of Buyer in its sole discretion, Seller shall not execute any New Lease or amend, terminate or accept the surrender of
any existing tenancies except that Seller is authorized to (A) accept the termination of Space Leases at the end of their existing
terms, or amendments memorializing extensions of any Space Leases as required thereunder, and (B) terminate any Space Lease arising
from a default by the Tenant in the exercise of the landlord&rsquo;s remedies under such Space Lease, made in good faith by Seller
in Seller&rsquo;s commercially reasonable judgment. Following the Effective Date until the Closing or earlier termination of this
Agreement, without the prior written consent of Buyer in its sole discretion, Seller shall not apply any Security Deposit under
any Space Lease. If a New Lease or an amendment, renewal or extension of a Space Lease requires Buyer&rsquo;s consent and Buyer
does not object within five (5) Business Days after receipt of a letter of intent or other documentation evidencing the applicable
leasing transaction from Seller or its Representative to enter into, amend, renew or extend such Space Lease, then Buyer shall
be deemed to have approved such New Lease or amendment<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Notwithstanding anything to the contrary in Section 3.3(c)(i),</FONT> the applicable
<FONT STYLE="background-color: white">Seller is authorized to enter into a space lease (such lease, the &ldquo;<U>YBR Lease</U>&rdquo;)
</FONT>with respect to the individual Property located at <FONT STYLE="background-color: white">9104 Yellow Brick Road, Rosedale,
Maryland 21237 (such individual Property, the &ldquo;<U>YBR Property</U>&rdquo;) with York International Corporation, provided
that such lease (A) is on the standard form lease for the Property as previously provided by Seller to Buyer, (B) includes the
material terms set forth on the letter of intent set forth on <U>Schedule 3.3(c)(ii)</U> and such other terms that are reasonably
approved by Buyer and (C) does not include any rights of first refusal, rights of first offer, purchase options or similar rights
relating to the YBR Property or any interest therein. In connection with the foregoing, Seller agrees to provide Buyer with regular
updates on the status of such negotiations</FONT> and to <FONT STYLE="background-color: white">provide copies of all correspondences
sent or received by Seller with respect to the terms thereof. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Notwithstanding anything to the contrary in Section 3.3(c)(i),</FONT> the applicable
<FONT STYLE="background-color: white">Seller is authorized to </FONT>amend the AC Lease<FONT STYLE="background-color: white">,
provided that such amendment shall be limited to the removal of Section 29 of the AC Lease. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>If Seller enters into any lease after the Effective Date, then unless such lease required Buyer&rsquo;s approval
pursuant to this Section&nbsp;3.3(c) and such approval was not obtained, Buyer shall assume such lease at Closing and the schedule
of Space Leases attached to the Assignment of Leases shall be so modified, such lease shall be deemed added to <U>Schedule&nbsp;3.2(b-1)</U>,
and <U>Schedule&nbsp;3.2(b-1)</U> shall be deemed amended at the Closing to include such lease<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Affiliate Agreements, Leasing Agreements and Brokerage Agreements</U>. Seller
shall terminate all Affiliate Agreements and all leasing and brokerage agreements with respect to the Property, at or prior to
Closing. All termination fees and any other costs and expenses relating to such termination shall be the responsibility solely
of Seller, and Buyer shall not have any responsibility or liability thereunder. Seller&rsquo;s obligations under this Section 3.3(d)
shall survive the Closing.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Terminated Contracts</U>. Seller shall deliver a notice of termination with
respect to the Contracts with respect to the Property except the Assumed Contracts. All termination fees and any other costs and
expenses relating to such termination shall be the responsibility solely of Seller, and Buyer shall not have any responsibility
or liability therefor. Seller&rsquo;s obligations under this Section&nbsp;3.3(e) shall survive the Closing.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Capital Expenditures Work</U>.</FONT> Seller shall use commercially reasonable
efforts to perform the work more particularly described on <U>Schedule&nbsp;3.3(f)</U> (the &ldquo;<U>Capital Expenditures Work</U>&rdquo;)
on or prior to the Closing, provided that the completion of the Capital Expenditures Work shall not be a condition precedent to
Buyer&rsquo;s obligations to consummate the Closing. To the extent the Capital Expenditures Work is not completed by or prior to
the Closing, (i) Seller shall provide Buyer at the Closing with reasonable evidence of the remaining work to be completed, amounts
that remain to be paid under any contract for the Capital Expenditures Work and amounts that have been paid under any such contract(s)
or otherwise prior to the Closing, (ii) Seller shall assign the contract(s) to the extent assignable, if any, for any such Capital
Expenditures Work to Buyer at the Closing, (iii) Buyer shall assume at the Closing the obligations under any such contract(s) to
complete such Capital Expenditures Work (and such Contracts, if any, shall be deemed to be added to <U>Schedule&nbsp;4.2</U>, and
<U>Schedule&nbsp;4.2</U> shall be deemed amended at Closing to include such Contracts), and (iv) in such event, Buyer shall receive
a credit to the Purchase Price equal to one hundred ten percent (110%) of <FONT STYLE="background-color: white">the &ldquo;costs
remaining&rdquo; for any Capital Expenditures Work set forth on <U>Schedule&nbsp;3.3(f)</U>, less any amounts previously paid by
or on behalf of Seller after the Effective Date with respect to such Capital Expenditures Work. For the avoidance of doubt, to
the extent Buyer receives a credit for any Capital Expenditures Work under this Section&nbsp;3.3(f), Buyer shall not receive a
credit for such amounts pursuant to any provision of Article&nbsp;X herein (including, without limitation, Section&nbsp;10.5) even
if such Capital Expenditures Work constitutes construction or repairs required to be completed by the landlord pursuant to a Space
Lease and is otherwise included in the definition of Leasing Costs hereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Landlord Work</U>. </FONT>Seller shall use commercially reasonable efforts
to perform the work required to be completed by the landlord pursuant to a Space Lease as more particularly described on <U>Schedule&nbsp;3.3(g)</U>
(the &ldquo;<U>Landlord Work</U>&rdquo;) on or prior to the Closing, provided that the completion of the Landlord Work shall not
be a condition precedent to Buyer&rsquo;s obligations to consummate the Closing. To the extent the Landlord Work is not completed
by or prior to the Closing, (i) Seller shall provide Buyer at the Closing with reasonable evidence of the remaining work to be
completed, amounts that remain to be paid under any contract for the Landlord Work and amounts that have been paid under any such
contract(s) or otherwise prior to the Closing, (ii) Seller shall assign the contract(s) to the extent assignable, if any, for any
such Landlord Work to Buyer at the Closing, (iii) Buyer shall assume at the Closing the obligations under any such contract(s)
to complete such Landlord Work (and such Contracts, if any, shall be deemed to be added to <U>Schedule&nbsp;4.2</U>, and <U>Schedule&nbsp;4.2</U>
shall be deemed amended at Closing to include such Contracts), and (iv) in such event, Buyer shall receive a credit to the Purchase
Price equal to one hundred ten percent (110%) of <FONT STYLE="background-color: white">the actual third party costs required to
be paid for the remaining </FONT>construction work or repairs <FONT STYLE="background-color: white">applicable to each applicable
Landlord Work that has not been completed and for any unpaid amounts with respect to any work that has been completed but that
has not been fully paid for under such contract(s). For the avoidance of doubt, to the extent Buyer receives a credit for any Landlord
Work under this Section&nbsp;3.3(g), Buyer shall not</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="background-color: white">receive a credit for
such amounts pursuant to any provision of Article&nbsp;X herein (including, without limitation, Section&nbsp;10.5) even if such
Landlord Work constitutes construction or repairs required to be completed by the landlord pursuant to a Space Lease and is otherwise
included in the definition of Leasing Costs hereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Associations</U>. Following the Effective Date until the earlier of Closing or a termination of this Agreement,
Seller shall (i) not amend, supplement, terminate or otherwise modify any Association Documents, or cause or permit (to the extent
Seller or its Affiliates have the requisite rights) any Association formed pursuant to any Association Documents to make any material
decisions or take any material actions, without Buyer&rsquo;s prior written consent in its sole discretion and (ii) comply with
all obligations and requirements with respect to all Association Documents. On or prior to the Closing Date, Seller shall (A) cause
each officer or director of any board appointed by Seller to resign his or her position as officer or director with respect to
any such Association at any Property and (B) facilitate the appointment of Buyer&rsquo;s replacement officers and directors with
respect to any such Association at any Property. Seller shall use commercially reasonable efforts to obtain an executed estoppel
certificate from each Association in the form of <U>Exhibit B-1</U> attached hereto or such other form as Buyer approves in its
sole discretion (each, an &ldquo;<U>Association Estoppel</U>&rdquo;), but unless Seller or any Affiliate of Seller controls such
Association, (i) the receipt of Association Estoppels shall not be a condition to Buyer&rsquo;s obligation to consummate the Closing
and (ii) the non-receipt of any Association Estoppel shall not be a condition to Buyer&rsquo;s obligation to consummate the Closing.
Seller&rsquo;s failure to deliver any Association Estoppel shall not constitute a default by Seller unless Seller or any Affiliate
of Seller controls such Association. It shall be a condition to Buyer&rsquo;s obligation to consummate the Closing that, at least
two (2) Business Days prior to the Closing Date, Seller shall deliver to Buyer Association Estoppels with respect to any Association
directly or indirectly controlled by Seller or any Affiliate of Seller (collectively, the &ldquo;<U>Required Association Estoppels</U>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>REAs</U>. Following the Effective Date until the earlier of Closing or a termination of this Agreement, Seller
shall (i) not amend, supplement, terminate or otherwise modify any of the REAs or cause or permit (to the extent Seller or its
Affiliates have the requisite rights) any REAs to be amended, modified, supplemented terminated or canceled without Buyer&rsquo;s
prior written consent in its sole discretion and (ii) comply with all obligations and requirements with respect to all REAs. Seller
shall use commercially reasonable efforts to obtain an executed estoppel certificate from each counterparty to an REA in the form
of <U>Exhibit B-2</U> attached hereto or such other form as Buyer approves in its sole discretion (each, an &ldquo;<U>REA Estoppel</U>&rdquo;),
but (i) receipt of REA Estoppels shall not be a condition to Buyer&rsquo;s obligation to consummate the Closing and (ii) the non-receipt
of any REA Estoppel shall not constitute grounds to refuse to consummate the Closing. Seller&rsquo;s failure to deliver any REA
Estoppel shall not constitute a default by Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;3.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Tenant Estoppels</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Promptly following the Effective Date, Seller shall prepare and deliver to all Tenants an estoppel certificate in
the form of <U>Exhibit&nbsp;A-1</U> attached hereto (each, a &ldquo;<U>Tenant Estoppel</U>&rdquo;) and request each such Tenant
to execute and deliver the Tenant Estoppel to Seller; <U>provided</U>, <U>however</U>, with respect to the Tenants set forth on
<U>Schedule 3.4(a</U>), Seller shall prepare and deliver an estoppel certificate in the form of <U>Exhibit&nbsp;A-2</U> or <U>Exhibit&nbsp;A-3</U>
attached hereto, as</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">applicable. Seller shall use commercially reasonable efforts
to obtain the prompt return of the executed Tenant Estoppels in substantially the same form of <U>Exhibit&nbsp;A-1, Exhibit&nbsp;A-2</U>
or <U>Exhibit&nbsp;A-3</U> attached hereto, as applicable (without the obligation to make any payments or grant any concessions
to Tenants under the Space Leases).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Other than as set forth in Section&nbsp;3.4(c) and Section&nbsp;5.2(e), (i) the receipt of Tenant Estoppels shall
not be a condition to Buyer&rsquo;s obligation to consummate the Closing and (ii) the non-receipt of any Tenant Estoppel shall
not constitute grounds to refuse to consummate the Closing. Seller&rsquo;s failure to deliver the Required Tenant Estoppels shall
not constitute a default by Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000">(c)<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>It shall be a condition to Buyer&rsquo;s obligation to consummate the Closing that, at least two (2) Business Days
prior to the Closing Date, Seller shall deliver to Buyer Tenant Estoppels with respect to both (i) at least eight (8) of the ten
(10) Major Leases (including all five (5) of the largest Major Leases based upon Tenant Leased Square Footage); and (ii) Tenants
leasing at least seventy-five percent (75%) of the Tenant Leased Square Footage of the Property, each of which shall be dated no
earlier than forty-five (45) days prior to Closing (collectively, the &ldquo;<U>Required Tenant Estoppels</U>&rdquo;). Notwithstanding
anything herein to the contrary, Buyer shall have no right to object (and such Tenant Estoppel shall count towards the Required
Tenant Estoppel requirement hereunder) if Tenant delivers a Tenant Estoppel which is dated no earlier than forty-five (45) days
prior to Closing and (i) in substantially the same form attached hereto as <U>Exhibit&nbsp;A-1, Exhibit&nbsp;A-2</U> or <U>Exhibit&nbsp;A-3</U>
attached hereto, as applicable or (ii) in form or substance provided for in the terms of the applicable Tenant&rsquo;s Space Lease,
in each case, subject to non-material modification thereof; provided, however, such Tenant Estoppel shall not count towards the
Required Tenant Estoppel requirement to the extent it alleges any default by Seller, accrued and outstanding offsets or defenses
under the relevant Space Lease, or contains any adverse deviations between (x) the information specified in said Tenant Estoppel
and (y) (i) the representations and warranties of Seller set forth in this Agreement or (ii) the applicable Space Lease to which
such Tenant Estoppel relates. <FONT STYLE="font-family: Times New Roman, Times, Serif">Seller shall deliver to Buyer any and all
Tenant Estoppels received from tenants (including, without limitation, tenant marked drafts), whether or not such Tenant Estoppels
meet the requirements of this Section 3.4 and whether or not Seller intends to seek a revised or updated Tenant Estoppel from such
Tenant. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">In the event the Tenants set forth on <U>Schedule 3.4(d)</U></FONT>
deliver a Tenant Estoppel which alleges any default by Seller with respect to the matters set forth on <U>Schedule 3.4(d)</U>,
in addition to such Tenant Estoppel not counting towards the Required Tenant Estoppel requirements pursuant to Section 3.4(c),
Buyer shall also have the right to terminate this Agreement as to only such affected Property by giving written notice to Seller,
in which event (i) this Agreement shall be deemed modified to exclude such affected Property from this Agreement, (ii) the Allocated
Earnest Money attributable to such affected Property shall be immediately returned to Buyer, (iii) the Purchase Price shall be
reduced by the Allocated Asset Value of such affected Property, and (iv) neither party hereto shall have any further rights or
obligations with respect to such affected Property hereunder other than those which expressly survive the termination of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Section&nbsp;3.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Projects Involving Letters of Credit</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">The capital projects, construction work or repairs more particularly described
on <U>Schedule 3.5</U> (the &ldquo;<U>LOC Work Projects</U>&rdquo;) are not expected to be completed until after Closing and the
completion of the LOC Work Projects shall not be a condition precedent to Buyer&rsquo;s obligations to consummate the Closing.
To the extent any LOC Work Projects are not completed by or prior to the Closing, (i) Seller shall continue such LOC Work Projects
until completion in accordance with all Applicable Law, as contemplated by the applicable agreements and plans described on <U>Schedule
3.5</U> and otherwise in accordance with the terms of this Agreement and terms of the LOC Work Access Agreement (the &ldquo;<U>LOC
Completion Conditions</U>&rdquo;), and (ii) Buyer and Seller agree that an amount equal to one hundred twenty five percent (125%)
of the actual third party costs that remain to be paid for each of the LOC Work Projects (in the reasonable judgment of the general
contractor selected by Seller and reasonably acceptable to Buyer with respect to such LOC Work Project (&ldquo;<U>Contractor</U>&rdquo;)),
shall be held back from the Closing proceeds and deposited into an escrow with Escrow Agent (the &ldquo;<U>LOC Work Holdback</U>&rdquo;).
Upon final completion of any individual LOC Work Project in accordance with the LOC Completion Conditions, Seller shall be entitled
to submit a written request for disbursement of the amount of the LOC Work Holdback allocated to such LOC Work Project to Buyer
and Escrow Agent together with </FONT>(i) sufficient evidence establishing that the LOC Completion Conditions have been satisfied,
(ii) <FONT STYLE="background-color: white">all amounts payable to Contractor have been paid for (or will be paid for from the LOC
Work Holdback)</FONT> and (iii) an unconditional final lien waiver from the Contractor. If within five (5) Business Days of Buyer&rsquo;s
receipt of such <FONT STYLE="background-color: white">request for disbursement</FONT> Escrow Agent has not received a written objection
from Buyer, <FONT STYLE="background-color: white">Escrow Agent shall then disburse to Seller the amount of the LOC Work Holdback
allocated to such LOC Work Project. For the avoidance of doubt, Escrow Agent shall not disburse any amount in dispute until Escrow
Agent receives written instructions from both Seller and Buyer, or such dispute is resolved pursuant to the terms of Section 16.5.
</FONT>Upon disbursement of the amount of the LOC Work Holdback <FONT STYLE="background-color: white">allocated to such </FONT>LOC
Work Project, Seller shall (i) require the applicable Contractor to provide an unconditional final lien waiver and affidavit of
costs in order to receive the final payment, (ii) instruct such Contractor to require each supplier or subcontractor who may be
entitled to file a lien against the Property to provide an unconditional lien waiver in order to receive their final payments and
(iii) use commercially reasonable efforts to cause to be issued to or assigned to Buyer all warranties provided or to be provided
with respect to such LOC Work Project. <FONT STYLE="background-color: white">In the event such warranties are not assignable, Seller
shall, at its sole expense, use commercially reasonable efforts to provide Buyer with the economic benefits of such arrangements
by enforcing such warranties (at Buyer&rsquo;s direction) for the benefit of Buyer. Notwithstanding anything herein to the contrary,
in the event Seller fails to complete any LOC Work Project in advance of the outside date for such LOC Work Project set forth on
<U>Schedule 3.5</U>, Buyer shall have the right to (i) take over completion of such LOC Work Project, (ii) terminate Seller&rsquo;s
access to such Property (or the applicable portion thereof) under the LOC Work Access Agreement and (iii) upon substantial completion
of such LOC Work Project, submit a written request to Seller and Escrow Agent for disbursement of the amount of the LOC Work Holdback
allocated to such LOC Work Project. If within five (5) Business Days of Seller&rsquo;s receipt of such request for disbursement
Escrow Agent has not received a written objection from Seller, Escrow Agent shall then disburse to Buyer the amount of the LOC
Work Holdback allocated to such LOC Work Project and neither Buyer nor Seller shall have any further obligations or liabilities
as related to such LOC Work Project except as expressly set forth herein; provided however, Seller</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="background-color: white">shall only be permitted
to object to such disbursement in good faith to the extent Seller reasonably believes that such LOC Work Project was not substantially
completed by Buyer. Escrow Agent shall not disburse any amount in dispute until Escrow Agent receives written instructions from
both Seller and Buyer, or such dispute is resolved pursuant to the terms of Section 16.5. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding anything herein to the contrary, Seller shall continue to provide the Municipal <FONT STYLE="font-family: Times New Roman, Times, Serif">Letters</FONT>
of Credit until the corresponding work has been completed and the obligation to post such Municipal Letter of Credit with respect
thereto has been released. <FONT STYLE="background-color: white">All obligations, costs and expenses relating to such </FONT>Municipal
Letters of Credit <FONT STYLE="background-color: white">shall be the responsibility solely of Seller, and Buyer shall not have
any responsibility or liability therefor. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">This Section&nbsp;3.5 shall survive indefinitely.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;3.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>AC Lease</U>. Following the Effective Date until the earlier of Closing or a termination of this Agreement, Seller
shall use commercially reasonable efforts to enter into an amendment to the AC Lease to remove Section 29 thereof in its entirety.
Such amendment shall not be a condition to Buyer&rsquo;s obligation to consummate the Closing and the non-receipt of such amendment
shall not constitute grounds to refuse to consummate the Closing, but absent receipt of such amendment, Buyer shall have the right,
exercised by written notice to Seller, to terminate this Agreement as to only the AC Property by delivering written notice to Seller,
in which event (a) this Agreement shall be deemed modified to exclude the AC Property from this Agreement, (b) the Allocated Earnest
Money attributable to the AC Property shall be immediately returned to Buyer, (c) the Purchase Price shall be reduced by the Allocated
Asset Value of the AC Property, and (d) neither party hereto shall have any further rights or obligations with respect to the AC
Property hereunder other than those which expressly survive the termination of this Agreement.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;IV</FONT><U><BR>
REPRESENTATIONS, WARRANTIES AND COVENANTS OF BUYER</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Representations and Warranties of Buyer</U>. Buyer hereby represents and warrants to Seller as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Formation; Existence</U>. Buyer is a limited liability company duly formed, validly existing and in good standing
under the laws of the State of Delaware.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Power; Authority</U>. Buyer has all requisite power and authority to enter into this Agreement, to perform its
obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement,
the purchase of the Assets and the consummation of the transactions provided for herein have been duly authorized by all necessary
action on the part of Buyer. This Agreement has been duly executed and delivered by Buyer and constitutes the legal, valid and
binding obligation of Buyer enforceable against Buyer in accordance with its terms, except as such enforceability may be limited
by bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors&rsquo; rights and by general principles
of equity (whether applied in a proceeding at law or in equity).</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Consents</U>. No consent, license, approval, order, permit or authorization of, or registration, filing or
declaration with, any court, administrative agency or commission or other Governmental Authority or instrumentality, domestic or
foreign, is required to be obtained or made in connection with the execution, delivery and performance of this Agreement by Buyer
or any of Buyer&rsquo;s obligations in connection with the transactions required or contemplated hereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Conflicts</U>. Buyer&rsquo;s execution, delivery and compliance with, and performance of the terms and provisions
of, this Agreement, and the purchase of the Assets, will not (i)&nbsp;conflict with or result in any violation of its organizational
documents, (ii) conflict with or result in any violation of any provision of any bond, note or other instrument of indebtedness,
contract, indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which Buyer is a party
in its individual capacity, or (iii) violate any Applicable Law relating to Buyer or its assets or properties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Bankruptcy</U>. Buyer (i) is not a debtor under any bankruptcy proceedings, voluntary or involuntary, (ii) has
not made an assignment for the benefit of creditors, (iii) has not suffered the appointment of a receiver to take possession of
all, or substantially all, of Buyer&rsquo;s assets, which remains pending or (iv) suffered the attachment or other judicial seizure
of all, or substantially all of Buyer&rsquo;s assets, which remains pending and to Buyer&rsquo;s Knowledge, no such action is being
threatened against Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Anti-Terrorism Laws</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 1in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Buyer nor, to Buyer&rsquo;s Knowledge, any of its subsidiaries, officers, directors, employees or agents,
is in violation of the Anti-Bribery, Anti-Money Laundering and Anti-Terrorism Laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 1in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Buyer nor, to Buyer&rsquo;s Knowledge, any of its subsidiaries, officers, directors, employees or agents,
is acting, directly or indirectly, on behalf of terrorists, terrorist organizations or narcotics traffickers, including those Persons
or entities that appear on the Annex to the Executive Order, or are included on any Government Lists.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 1in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Buyer, nor to Buyer&rsquo;s Knowledge, any of its subsidiaries, officers, directors, employees or agents,
is a Person named on a Government List, or is acting for or on behalf of any Sanctioned Country and the monies used in connection
with this Agreement and amounts committed with respect thereto, were not and are not derived from any activities with the governments
of, or any individuals or entities located in, any Sanctioned Country or from activities that otherwise contravene any economic
sanctions administered by OFAC, the U.S. Department of State, or any other applicable economic sanctions authority (collectively,
&ldquo;<U>Sanctions</U>&rdquo;), or from any activities that contravene any Anti-Bribery, Anti-Money Laundering and Anti-Terrorism
Laws (including funds being derived from any Person, entity, country or territory on a Government List or engaged in any unlawful
activity defined under Title 18 of the United States Code, Section 1956(c)(7))<FONT STYLE="background-color: white">.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 1in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Buyer, nor any Person controlling or controlled by Buyer, is the target of Sanctions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Covenants of Buyer</U>. Buyer shall assume as of the Closing certain Contracts pertaining to the operation of
the Property (the &ldquo;<U>Assumed Contracts</U>&rdquo;). For the purposes hereof, the Assumed Contracts shall only include those
Contracts listed or deemed to be included on <U>Schedule&nbsp;4.2</U> attached hereto.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;V</FONT><U><BR>
CONDITIONS PRECEDENT TO CLOSING</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Conditions Precedent to Seller&rsquo;s Obligations</U>. The obligation of Seller to consummate the transfer of
the Assets to Buyer on the Closing Date is subject to the satisfaction (or waiver by Seller) as of the Closing Date of the following
conditions:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Each of the representations and warranties made by Buyer in this Agreement shall be true and correct in all material
respects (without giving effect to any qualification as to materiality, or any correlative terms in Section 4.1) when made and
on and as of the Closing Date as though such representations and warranties were made on and as of the Closing Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer shall have performed or complied in all material respects with each obligation and covenant required by this
Agreement to be performed or complied with by Buyer on or before the Closing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>No order or injunction of any court or administrative agency of competent jurisdiction nor any statute, rule, regulation
or executive order promulgated by any Governmental Authority of competent jurisdiction shall be in effect as of the Closing which
restrains or prohibits the transfer of the Assets.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>No action, suit or other proceeding shall be pending which shall have been brought to restrain or prohibit the transfer
of the Assets.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Seller or Escrow Agent shall have received all of the documents required to be delivered by Buyer under Section&nbsp;6.1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Seller or Escrow Agent shall have received the Purchase Price in accordance with Section&nbsp;2.2 and all other amounts
due to Seller hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Shareholder Approval shall have been obtained.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Conditions Precedent to Buyer&rsquo;s Obligations</U>. The obligation of Buyer to purchase and pay for the Assets
on the Closing Date is subject to the satisfaction (or waiver by Buyer) as of the Closing Date of the following conditions:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Each of the representations and warranties made by Seller and Parent in this
Agreement shall be true and correct</FONT> in all material respects <FONT STYLE="background-color: white">(</FONT>without giving
effect to any</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">qualification as to materiality, or any correlative terms
in Section 3.1 or Section 3.2) <FONT STYLE="background-color: white">when made and on and as of the Closing Date as though such
representations and warranties were made on and as of the Closing Date. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Seller and Parent shall have performed or complied in all material respects with each obligation and covenant required
by this Agreement to be performed or complied with by Seller and Parent on or before the Closing Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>No order or injunction of any court or administrative agency of competent jurisdiction nor any statute, rule, regulation
or executive order promulgated by any Governmental Authority of competent jurisdiction shall be in effect as of the Closing Date
which restrains or prohibits the transfer of the Assets.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>No action, suit or other proceeding shall be pending which shall have been brought to restrain or prohibit the transfer
of the Assets.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer shall have timely received the Required Tenant Estoppels pursuant to Section&nbsp;3.4(c) and the Required Association
Estoppels pursuant to Section 3.3(h).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer shall have received all of the documents required to be delivered by Seller under Section&nbsp;6.2.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Fee simple title to the Property shall be vested in Seller (and at the Closing shall be conveyed to Buyer) subject
only to the Permitted Exceptions. Title Company shall be irrevocably and unconditionally committed to issue the Title Policies
to Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Shareholder Approval shall have been obtained.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Waiver of Conditions Precedent</U>. The occurrence of the Closing shall constitute conclusive evidence that Seller
and Buyer have respectively waived any conditions which are not satisfied as of the Closing.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;VI</FONT><U><BR>
CLOSING DELIVERIES</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;6.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Buyer Closing Deliveries</U>. Buyer shall deliver the following documents to the Escrow Agent on or before the
Closing Date:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>With respect to the Assets:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">an assignment and assumption of Seller&rsquo;s interest in the Space Leases
for the Property (the &ldquo;<U>Assignment of Leases</U>&rdquo;) duly executed by Buyer in substantially the form of <U>Exhibit&nbsp;C</U>
attached hereto;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>an assignment and assumption of the Assumed Contracts for the Property (the &ldquo;<U>Assignment of Contracts</U>&rdquo;)
duly executed by Buyer in substantially the form of <U>Exhibit&nbsp;D</U> attached hereto;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>notice letters to the Tenants at the Property (the &ldquo;<U>Tenant Notices</U>&rdquo;) duly executed by Buyer, in
substantially the form of <U>Exhibit&nbsp;E</U> attached hereto;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>the assignment of all licenses, permits, warranties and intangibles with respect to the Property to the extent assignable
(but excluding any Excluded Assets) (the &ldquo;<U>Assignment of Licenses, Permits, Warranties and General Intangibles</U>&rdquo;)
duly executed by Buyer in substantially the form of <U>Exhibit&nbsp;F</U> attached hereto<FONT STYLE="background-color: white">;
</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>certificate duly executed by Buyer certifying that all of the representations and warranties of Buyer set forth in
this Agreement are true and correct and remade on and as of the Closing Date; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">LOC Work Access Agreement duly executed by Buyer.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>With respect to the transactions contemplated hereunder:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>all transfer tax returns and forms to the extent required by Applicable Law in connection with the payment of all
state or local real property transfer taxes that are payable or arise as a result of the consummation of the transactions contemplated
by this Agreement, in each case, as prepared by Seller and Buyer and duly executed by Buyer, as applicable (the &ldquo;<U>Transfer
Tax Forms</U>&rdquo;); and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>a closing statement prepared and reasonably approved by Seller and Buyer, consistent with the terms of this Agreement
(the &ldquo;<U>Closing Statement</U>&rdquo;) duly executed by Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;6.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Seller Closing Deliveries</U>. Seller shall deliver (x) possession of the Assets subject only to the Permitted
Exceptions and the Space Leases at Closing and (y) the following documents to the Escrow Agent on or before the Closing Date:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>With respect to the Assets:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>with respect to each Property, a deed (the &ldquo;<U>Deed</U>&rdquo;) in substantially the form of <U>Exhibit G-1</U>
through <U>G-3</U> attached hereto with respect to each applicable state, duly executed and acknowledged by the applicable Seller
and in a form that complies with the local recording requirements for the jurisdiction in which such Property is located;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>the Assignment of Leases for Property duly executed by Seller;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>a bill of sale duly executed by Seller in substantially the form of <U>Exhibit&nbsp;H</U> attached hereto, relating
to all fixtures, chattels, equipment and articles of Personal Property owned by Seller which are currently located upon or attached
to the Property or used solely in connection with the operation of the Property (but not including any Excluded Assets);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>the Assignment of Contracts for the Property duly executed by Seller;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>the Tenant Notices for the Property duly executed by Seller;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>an affidavit that Seller is not a &ldquo;foreign person&rdquo; within the meaning of Section 1445 of the Code, in
substantially the form of <U>Exhibit&nbsp;I-1</U> or <U>Exhibit I-2</U> attached hereto, as applicable, and any corresponding affidavits
or forms required to comply with any similar withholding requirements under state or local Applicable Law;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>the Assignment of Licenses, Permits, Warranties and General Intangibles for the Property duly executed by Seller;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>notice to any REA counterparties or Association counterparties who are entitled to receive notice pursuant to any
REA or Association Documents of the sale of the applicable individual Property;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ix)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>a recordable assignment of Seller&rsquo;s interest in any REA or Association Document (including but not limited
to any applicable developer or declarant rights);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>evidence of the termination of any management agreement, Affiliate Agreements and all leasing and brokerage agreements
with respect to the Property to which Seller is a party or which would be binding on Buyer or the Property;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(xi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>subject to the terms of Section 9.3, evidence that all Options triggered by <FONT STYLE="background-color: white">the
transactions contemplated hereby</FONT> have been waived by the applicable counterparty thereto;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(xii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>copies of the Space Leases referred to in the Assignment of Leases and the Security Deposits and lease files with
respect thereto (including originals of all guaranties and letters of credit, endorsed or assigned to Buyer, as applicable, and
corresponding completed transfer forms) and the Assumed Contracts and other property files, which delivery may be satisfied by
delivery outside of escrow, at the Property;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(xiii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>certificate duly executed by Seller certifying that all of the representations and warranties of Seller set forth
in this Agreement are true and correct and remade on and as of the Closing Date;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(xiv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>the Title Affidavit; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(xv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">LOC Work Access Agreement duly executed by Seller</FONT>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>With respect to the transactions contemplated hereunder,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>all Transfer Tax Forms duly executed by Seller, as applicable;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>an instrument or instruments, duly executed by the appropriate Persons, effectuating the resignation of all officers,
directors and/or managers appointed by Seller with respect to all Associations formed pursuant to the Association Documents; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>the Closing Statement duly executed by Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; text-transform: uppercase">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Section&nbsp;6.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Cooperation</U>. In the event any Asset-Related Property is not assignable (such as a letter of credit that is
not transferable), Seller shall use commercially reasonable efforts after the Closing to provide Buyer with the economic benefits
of such property by enforcing such property (at Buyer&rsquo;s direction) for the benefit of Buyer or causing a replacement to
be issued in favor of Buyer. The provisions of this Section&nbsp;6.3 shall survive the Closing for a period of six (6) months.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;VII</FONT><U><BR>
INSPECTIONS; RELEASE</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;7.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Right of Inspection</U>. From and after the Effective Date and through the earlier of Closing or the earlier termination
of this Agreement in accordance with the terms hereof, Buyer and its representatives shall have the right to inspect the Property
pursuant to the terms of that certain Access Agreement entered into as of February 8, 2018, by and among Parent, on behalf of Seller,
and Blackstone Real Estate Advisors L.P., on behalf of Buyer (&ldquo;<U>Access Agreement</U>&rdquo;); provided, however, the termination
provisions set forth in Section 16 of the Access Agreement shall be deemed deleted in their entirety, and the term set forth in
this Section 7.1 shall apply.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;7.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><B><U>GENERAL DISCLAIMER</U></B>. <B>IN ENTERING INTO THIS AGREEMENT, BUYER HAS NOT BEEN INDUCED BY AND HAS NOT RELIED
UPON ANY WRITTEN OR ORAL REPRESENTATIONS, WARRANTIES OR STATEMENTS, WHETHER EXPRESS OR IMPLIED, MADE BY SELLER, OR ANY PARTNER
OR MEMBER OF SELLER, OR ANY AFFILIATE, AGENT, EMPLOYEE, OR OTHER REPRESENTATIVE OF ANY OF THE FOREGOING OR BY ANY BROKER OR ANY
OTHER PERSON REPRESENTING OR PURPORTING TO REPRESENT SELLER WITH RESPECT TO THE ASSETS OR ANY OTHER MATTER AFFECTING OR RELATING
TO THE TRANSACTIONS CONTEMPLATED HEREBY, OTHER THAN THOSE EXPRESSLY SET FORTH IN THIS AGREEMENT AND ANY CLOSING DOCUMENTS. BUYER
ACKNOWLEDGES AND AGREES THAT, EXCEPT AS EXPRESSLY SET FORTH HEREIN OR ANY CLOSING DOCUMENTS, SELLER MAKES NO REPRESENTATIONS OR
WARRANTIES WHATSOEVER, WHETHER EXPRESS OR IMPLIED OR ARISING BY OPERATION OF LAW, WITH RESPECT TO THE ASSETS, INCLUDING, BUT NOT
LIMITED TO ANY REPRESENTATIONS, STATEMENTS OR WARRANTIES AS TO THE PHYSICAL OR ENVIRONMENTAL CONDITION OF THE ASSETS, THE FITNESS
OF THE ASSETS FOR A PARTICULAR USE, THE FINANCIAL PERFORMANCE OR POTENTIAL OF THE ASSETS, THE COMPLIANCE OF THE PROPERTY WITH APPLICABLE
BUILDING, ZONING, SUBDIVISION, ENVIRONMENTAL, LIFE SAFETY OR LAND USE LAWS, CODES, ORDINANCES, RULES, ORDERS, OR REGULATIONS, OR
THE STATE OF REPAIR OF THE PROPERTY, AND, EXCEPT AS EXPRESSLY SET FORTH HEREIN OR ANY CLOSING DOCUMENTS, BUYER WAIVES ANY RIGHT
TO ASSERT ANY CLAIM OR DEMAND AGAINST SELLER AT LAW OR IN EQUITY RELATING TO ANY SUCH MATTER, WHETHER LATENT OR PATENT, DISCLOSED
OR UNDISCLOSED, KNOWN OR UNKNOWN, NOW EXISTING OR HEREAFTER ARISING. BUYER AGREES THAT, EXCEPT AS</B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>EXPRESSLY SET FORTH HEREIN OR ANY CLOSING DOCUMENTS, IT
SHALL HAVE NO RECOURSE WHATSOEVER AGAINST SELLER, AT LAW OR IN EQUITY, SHOULD THE SURVEY OR THE TITLE COMMITMENT OR THE TITLE POLICY
FAIL TO DISCLOSE ANY MATTER AFFECTING THE PROPERTY OR REVEAL ANY SUCH MATTER IN AN INACCURATE, MISLEADING OR INCOMPLETE FASHION
OR OTHERWISE BE IN ERROR. BUYER AGREES THAT THE ASSETS WILL BE SOLD AND CONVEYED TO (AND ACCEPTED BY) BUYER AT THE CLOSING IN THE
THEN EXISTING CONDITION OF THE ASSETS, AS IS, WHERE IS, WITH ALL FAULTS, AND WITHOUT ANY WRITTEN OR VERBAL REPRESENTATIONS OR WARRANTIES
WHATSOEVER, WHETHER EXPRESS OR IMPLIED OR ARISING BY OPERATION OF LAW, OTHER THAN AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR ANY
CLOSING DOCUMENTS. BUYER ACKNOWLEDGES THAT BUYER HAS KNOWLEDGE AND EXPERTISE IN FINANCIAL AND BUSINESS MATTERS THAT ENABLE BUYER
TO EVALUATE THE MERITS AND RISKS OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;7.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><B><U>RELEASE</U>. FROM AND AFTER CLOSING, BUYER HEREBY AGREES THAT SELLER, AND EACH OF SELLER&rsquo;S PARTNERS,
MEMBERS, TRUSTEES, DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, PROPERTY MANAGERS, ASSET MANAGERS, AGENTS, ATTORNEYS, AFFILIATES
AND RELATED ENTITIES, HEIRS, SUCCESSORS, AND ASSIGNS (COLLECTIVELY, THE &ldquo;<U>RELEASEES</U>&rdquo;) SHALL BE, AND ARE HEREBY,
FULLY AND FOREVER RELEASED AND DISCHARGED FROM ANY AND ALL LIABILITIES, LOSSES, CLAIMS, DEMANDS, DAMAGES (OF ANY NATURE WHATSOEVER),
CAUSES OF ACTION, COSTS, PENALTIES, FINES, JUDGMENTS, REASONABLE ATTORNEYS&rsquo; FEES, CONSULTANTS&rsquo; FEES AND COSTS AND EXPERTS&rsquo;
FEES (COLLECTIVELY, THE &ldquo;<U>CLAIMS</U>&rdquo;) WITH RESPECT TO ANY AND ALL CLAIMS BY BUYER, WHETHER DIRECT OR INDIRECT, KNOWN
OR UNKNOWN, FORESEEN OR UNFORESEEN, THAT MAY ARISE ON ACCOUNT OF OR IN ANY WAY BE CONNECTED WITH THE ASSETS OR THE PROPERTY; <U>PROVIDED</U>,
<U>HOWEVER</U>, THAT IN NO EVENT SHALL RELEASEES BE RELEASED FROM (I) ANY CLAIMS ARISING PURSUANT TO THE EXPRESS PROVISIONS OF
THIS AGREEMENT OR SELLER&rsquo;S OBLIGATIONS, IF ANY, UNDER THE CLOSING DOCUMENTS, (II) ANY ACTS OF FRAUD BY SELLER OR (III) CLAIMS
ASSERTED BY THIRD PARTIES RELATING TO THE ASSETS, BUT ONLY IF AND TO THE EXTENT THE BASIS FOR SUCH CLAIMS OCCURS, ARISES OR ACCRUES
PRIOR TO THE CLOSING DATE, EVEN IF SUCH CLAIM IS ASSERTED ON OR AFTER THE CLOSING DATE.</B></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;VIII</FONT><U><BR>
TITLE AND PERMITTED EXCEPTIONS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;8.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Title Insurance and Survey</U>. On the Closing Date and subject to the terms and conditions of this Agreement,
Seller&rsquo;s fee simple interest in the Property shall be</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">sold and is to be conveyed, and Buyer agrees to purchase
Seller&rsquo;s fee simple interest in the Property subject only to the Permitted Exceptions and the provisions of this <U>Article&nbsp;VIII</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;8.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Title Commitment; Survey</U>. Except as expressly set forth on <U>Schedule 8.2</U> (&ldquo;<U>Non-Permitted Exceptions</U>&rdquo;),
all title exceptions and matters set forth in the Title Commitment and on the Survey shall be deemed Permitted Exceptions and are
hereby approved by Buyer. Seller shall be obligated to cure, remove or cause to be insured over at its expense all Non-Permitted
Exceptions in accordance with the &ldquo;resolution&rdquo; actions set forth on <U>Schedule 8.2</U>. Buyer is solely responsible
for obtaining any updated title commitments, surveys, or any other title related matters Buyer desires with respect to the Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;8.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Certain Exceptions to Title; Inability to Convey</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>If any updates to the Title Commitment or Survey reflect any matters which are not Permitted Exceptions (each such
matter, a &ldquo;<U>Title Defect</U>&rdquo;), then Buyer shall have the right to raise such Title Defect with Seller by delivering
written notice describing such Title Defect (each a &ldquo;<U>Title Defect Notice</U>&rdquo;) no later than five (5) Business Days
from the date Buyer receives any update to the Title Commitment or Survey (and in any event prior to the Closing). If Buyer fails
to timely deliver a Title Defect Notice, Buyer shall be deemed to have waived such Title Defect and such Title Defect shall be
deemed to be a Permitted Exception. Seller may elect (but shall not be obligated) to remove or cause to be removed, or insured
over at its expense any title matters which are not Permitted Exceptions as set forth in a Title Defect Notice, and shall be entitled
to a reasonable adjournment of the Closing (not to exceed thirty (30) days) for the purpose of such removal or cure, which removal
or cure will be deemed effected by the issuance of title insurance eliminating or insuring against the effect of such title matter
in a manner reasonably acceptable to Buyer. Seller shall notify Buyer of their election within five (5) days of receipt of a Title
Defect Notice (and in any event no later than two (2) Business Days prior to the Closing) and if Seller provides no such notice,
Seller shall be deemed to have elected not to cure the Title Defect(s) set forth therein. If Seller fails to cure or elects (or
is deemed to have elected) not to cure (or otherwise remove or have insured over by the Title Company) any Title Defect set forth
in a Title Defect Notice and otherwise is unable to convey fee title to the Property to Buyer at Closing subject only to Permitted
Exceptions, Buyer may elect, as its sole and exclusive remedy therefore, either to (x) terminate this Agreement by giving written
notice to Seller and Escrow Agent, in which event, the Earnest Money shall be returned to Buyer and, thereafter, the parties shall
have no further rights or obligations hereunder except for those obligations which expressly survive the termination of this Agreement,
or (y)&nbsp;waive such Title Defects, in which event such Title Defects shall be deemed additional &ldquo;Permitted Exceptions&rdquo;
and the Closing shall occur as herein provided without any reduction of or credit against the Purchase Price. Notwithstanding anything
in this Agreement to the contrary, Seller shall be obligated at Closing to cause the release or discharge of (i) any Voluntary
Encumbrance created by Seller on or after the Effective Date (each, a &ldquo;<U>Post-Effective Date Voluntary Encumbrance</U>&rdquo;),
(ii) the Existing Mortgage and any documents recorded in connection therewith, including, without limitation, any assignment of
leases and rents and UCC financing statement, and (iii) any lien encumbering the Property that is not a Permitted Exception that
may be removed by the payment of a sum of money (each item in this clause (iii), a &ldquo;<U>Monetary Encumbrance</U>&rdquo;) provided,
Seller shall not be obligated to spend more than $2,000,000 in the aggregate with respect to any Monetary Encumbrances. The parties
acknowledge and agree that Seller shall have the right to apply or</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">cause Escrow Agent to apply all or any portion of the Purchase
Price to cause the release of any Post-Effective Date Voluntary Encumbrance, the Existing Mortgage or any Monetary Encumbrance,
as applicable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Except as expressly set forth in this Section 8.3, nothing contained in this Agreement shall be deemed to require
Seller to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor,
nor shall Buyer have any right of action against Seller, at law or in equity, for Seller&rsquo;s inability to convey its interest
in the Property subject only to the Permitted Exceptions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;8.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Buyer&rsquo;s Right to Accept Title</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding the foregoing provisions of this Article&nbsp;VIII, Buyer may, by written notice given to Seller
at any time prior to the earlier of (x) the Closing Date and (y) the termination of this Agreement, elect to accept such title
as Seller can convey, notwithstanding the existence of any Title Defect. In such event, this Agreement shall remain in effect and
the parties shall proceed to Closing, but Buyer shall not be entitled to any abatement of the Purchase Price, any credit or allowance
of any kind, or any claim or right of action against Seller for damages or otherwise by reason of the existence of any Title Defect
except as otherwise agreed upon by the parties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer shall be entitled to request that the Title Company provide such endorsements (or amendments) to the Title
Policy as Buyer may reasonably require at Buyer&rsquo;s sole cost and expense.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;8.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Cooperation</U><FONT STYLE="background-color: white">. In connection with obtaining the Title Policy, Buyer and
Seller, as applicable, and to the extent requested by the Title Company, shall deliver to the Title Company (a) evidence sufficient
to establish (i) the legal existence of Buyer and Seller and (ii) the authority of the respective signatories of Seller and Buyer
to bind Seller and Buyer, as the case may be, and (b) a certificate of good standing of Buyer and Seller. In addition, Seller will
deliver to the Title Company at Closing, if and to the extent requested by Title Company, an owner&rsquo;s title affidavit, gap
indemnity and mechanics lien indemnity substantially in the form attached hereto as <U>Exhibit&nbsp;J</U> (&ldquo;<U>Title Affidavit</U>&rdquo;).
With respect to any Capital Expenditures Work and Landlord Work completed and paid for by Seller prior to Closing, Seller shall
also provide copies of lien waivers or such other documents as the Title Company shall reasonably require in order to insure over
liens related thereto on the Title Policy. </FONT></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;IX</FONT><U><BR>
TRANSACTION COSTS; RISK OF LOSS; Options</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;9.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Transaction Costs</U><SUP>.</SUP></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer and Seller agree to comply with all real estate transfer and recordation tax laws applicable to the sale of
the Assets. At Closing, Seller shall pay or cause to be paid (i) one-half (1/2) of all transfer and recordation taxes payable,
(ii) one-half (1/2) of all escrow charges, (iii) all costs in connection with discharging any Existing Mortgages, Post-</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Effective Date Voluntary Encumbrances and Monetary Encumbrances
that are the obligation of Seller hereunder and (iv) the costs of any endorsements issued to insure over any Non-Permitted Exceptions
or Title Defects. At Closing, Buyer shall pay or cause to be paid (i) one-half (1/2) of all transfer taxes payable, (ii) all costs
for the Title Policy except the amount for which Seller is responsible, as noted above, (iii) any recording fees except the amount
for which Seller is responsible, as noted above, (iv) one-half (1/2) of all escrow charges, (v) all fees, costs or expenses in
connection with Buyer&rsquo;s due diligence reviews and analyses hereunder, (vi) the cost of any update or recertification of the
Survey, and (vii) all costs associated with Buyer&rsquo;s financing, including documentary stamp tax and intangible tax on any
mortgage of the Property by Buyer. Any other transaction costs shall be paid by Buyer and Seller, as applicable, in accordance
with local custom for the Property. Seller and Buyer shall pay their respective shares of prorations as hereinafter provided. Except
as otherwise expressly provided in this Agreement, each party shall pay the fees of its own attorneys, accountants and other professionals.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Each party to this Agreement shall indemnify the other party hereto and its respective successors and assigns from
and against any and all Losses which such other party may sustain or incur as a result of the failure of either party to timely
pay any of the aforementioned taxes, fees or other charges for which it has assumed responsibility under this Section&nbsp;9.1.
The provisions of this Section&nbsp;9.1 shall survive the Closing or the termination of this Agreement indefinitely.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;9.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Risk of Loss</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>If, on or before the Closing Date, the Property or any portion thereof shall be (i) damaged or destroyed by fire
or other casualty or (ii) taken, or threatened to be taken, as a result of any condemnation, eminent domain or similar proceeding,
including the receipt of any notice letter relating thereto (including, without limitation, any Existing Casualty / Condemnation),
Seller shall promptly notify Buyer prior to the Closing and, at Closing, Seller will credit against the Purchase Price payable
by Buyer at the Closing an amount equal to the net proceeds, if any, actually received by Seller as a result of such casualty or
condemnation, together with a credit for any deductible under such insurance. If as of the Closing Date, Seller has not received
all or any portion of such insurance or condemnation proceeds, then the parties shall nevertheless consummate on the Closing Date
the conveyance of the Assets (without any credit for such insurance or condemnation proceeds except for a credit for (i) any deductible
under such insurance as provided for herein and (ii) any uninsured loss) and Seller will at Closing assign to Buyer all rights
of Seller, if any, to the insurance or condemnation proceeds and to all other rights or claims arising out of or in connection
with such casualty or condemnation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding the provisions of Section&nbsp;9.2(a), if, on or before the Closing Date, any individual Property
or any portion thereof shall be (i) damaged or destroyed by a Material Casualty or (ii) subject to a Material Condemnation, Buyer
shall have the right, exercised by written notice to Seller, to terminate this Agreement as to only such affected Property by delivering
written notice to Seller, in which event (i) this Agreement shall be deemed modified to exclude such affected Property from this
Agreement, (ii) the Allocated Earnest Money attributable to such affected Property shall be immediately returned to Buyer, (iii)
the Purchase Price shall be reduced by the Allocated Asset Value of such affected Property,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">and (iv) neither party hereto shall have any further rights
or obligations with respect to such affected Property hereunder other than those which expressly survive the termination of this
Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding the provisions of Section&nbsp;9.2(a), if, on or before the Closing Date, the Property or any portion
thereof shall be (i) damaged or destroyed by one or more casualties and/or (ii) taken, or threatened to be taken, as a result of
one or more condemnation, eminent domain or similar proceedings, and the cost of repair (with respect to any such casualties) and
the value of the applicable portion of the Property (with respect to any such condemnations, eminent domain or similar proceedings)
exceeds, in the aggregate, seven and one-half percent (7.5%) of the Purchase Price, Buyer shall have the right, exercised by written
notice to Seller, to terminate this Agreement, in which event the Earnest Money shall be returned to Buyer and neither party hereto
shall have any further rights or obligations hereunder other than those which expressly survive the termination of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>If Buyer does not (i) terminate this Agreement with respect to such affected Property in accordance with Section
9.2(b) or (ii) terminate this Agreement in accordance with Section 9.2(c), the provisions of Section&nbsp;9.2(a) shall apply.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">The provisions of this Section&nbsp;9.2 shall survive the Closing.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;9.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Options</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Should</FONT> any counterparty to an Option exercise its right to purchase
any individual Property or the applicable portion thereof (an &ldquo;<U>Excluded Option Property</U>&rdquo;), Seller shall promptly
notify Buyer of the same in writing, in which event (i) this Agreement will terminate as to only such Excluded Option Property
and this Agreement shall be deemed modified to exclude such Excluded Option Property from this Agreement, (ii) the Allocated Earnest
Money attributable to such Excluded Option Property shall be immediately returned to Buyer, (iii) the Purchase Price shall be reduced
by the Allocated Asset Value of such Excluded Option Property, and (iv) neither party hereto shall have any further rights or obligations
with respect to such Excluded Option Property hereunder other than those which expressly survive the termination of this Agreement.
To the extent the Option held by Nutramax Laboratories, Inc. with respect to the individual Property located at 2208 Lakeside Boulevard,
Edgewood, Maryland 21040 is exercised by such tenant, the term &ldquo;Excluded Option Property&rdquo; as used with respect to such
Option shall be deemed to include both (i) 2208 Lakeside Boulevard, Edgewood, Maryland 21040 and (ii) 2206 Lakeside Boulevard,
Edgewood, Maryland 21040.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding the foregoing, if, after the date on which a portion of Property becomes an Excluded Option Property,
but prior to the date that is twelve (12) months after the Closing Date, either (i) such counterparty defaults on its obligation
to purchase such Excluded Option Property, or (ii) such Excluded Option Property otherwise becomes available for sale by the applicable
Seller, then Seller shall promptly notify Buyer. Within a period of ten (10) Business Days from the date of delivery of such notice,
Buyer shall have the right, at its sole option, to elect to cause Seller to sell such Excluded Option Property to Buyer at the
Allocated Asset Value of such Excluded Option Property set forth herein and otherwise in accordance with the terms of this Agreement
by delivering written notice from Buyer to Seller (&ldquo;<U>Option Inclusion</U></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>Event&rdquo;</U>). If Buyer does not timely exercise
its right to acquire such Excluded Option Property, then Buyer shall have no obligation to buy, and Seller shall have no obligation
to sell, such Excluded Option Property. If an Option Inclusion Event occurs in accordance with the terms of this Agreement, Buyer
shall have the right, in its sole discretion, to schedule the Closing with respect to such Excluded Option Property on the earlier
of (i) the Closing Date and (ii) up to sixty (60) days after the date of the Option Inclusion Event. If an Option Inclusion Event
occurs in accordance with the terms of this Agreement, this Agreement shall be deemed amended to include the Excluded Option Property
for all purposes under this Agreement and such Excluded Option Property shall be subject to the terms and conditions of this Agreement,
including the covenants of Seller related thereto. For the avoidance of doubt, in the event the Closing for the Excluded Option
Property occurs on a date other than the Closing Date, all prorations in this Agreement and the Survival Period for representations,
warranties and covenants established in this Agreement (other than those related solely to such Excluded Option Property) that
are based on the Closing Date shall still be calculated based on the Closing Date (and not the date the Closing relative to such
Excluded Option Property occurs), but all prorations for such Excluded Option Property, and the Survival Period for representations,
warranties and covenants related solely to such Excluded Option Property shall be calculated as of the date the Closing relative
to such Excluded Option Property actually occurs.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The provisions of this Section 9.3 shall survive Closing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;9.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Crossroads Outparcel</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Promptly following the Effective Date and continuing after the Closing Date, Seller shall, at Seller&rsquo;s sole
cost and expense, take all necessary actions to subdivide the Crossroads Outparcel in order to enable Seller to transfer ownership
of a separate legal parcel comprised solely of the Crossroads Parking Parcel. <FONT STYLE="background-color: white">In connection
with the foregoing, Seller agrees to provide Buyer with regular updates on the status of such subdivision and provide copies of
all correspondences sent or received by Seller with respect thereof. Seller shall not encumber the Crossroads Outparcel nor construct
any improvements thereon. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Following the subdivision of the Crossroads Outparcel pursuant to Section 9.4(a), if applicable, and subject to customary
diligence (including, but not limited to, title, zoning and survey diligence and environmental diligence), Seller shall convey
and Buyer (or an Affiliate thereof) shall acquire the Crossroads Parking Parcel (so long as such subdivision is achieved within
one (1) year of the Closing) at a separate closing, for no additional cash consideration, pursuant to a deed in substantially the
form of <U>Exhibit G-2</U>, subject only to any Permitted Exceptions and the transfer restriction set forth in the last sentence
of Section 9.4(c) below. The consideration for the Crossroads Parking Parcel shall be Buyer&rsquo;s good faith covenants set
forth in Section 9.4(c) below, which shall survive the transfer of the Crossroads Outparcel for a period of one (1) year thereafter.
All amounts due and payable by the owner of the Crossroads Outparcel with respect to the year in which the Closing occurs shall
be adjusted and prorated based on the periods of ownership by Seller and Buyer during such year. For the avoidance of doubt, Seller
and Buyer acknowledge that as of the Effective Date, Buyer has not completed its diligence with respect to the Crossroads Parking
Parcel. In the event Buyer shall not be satisfied with the results of its diligence of the Crossroads Parking Parcel for any reason,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">in its sole and absolute discretion, Buyer shall have no
obligation to acquire the Crossroads Parking Parcel.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Following Buyer&rsquo;s acquisition of the Crossroads Parking Parcel, if applicable, and subject to Buyer (i) agreeing
upon acceptable construction cost arrangements with Advanced Relocation Services, (ii) obtaining any required approvals from any
Governmental Authority and (iii) approving the results of its customary diligence, Buyer shall work in good faith to construct
a parking lot on the Crossroads Parking Parcel. Notwithstanding any provision herein to the contrary, Seller and Buyer acknowledge
that as of the Effective Date, Buyer has not completed its diligence with respect to the construction of the parking lot. In the
event Buyer shall not be satisfied with the aforementioned diligence and construction cost arrangements for any reason, in its
sole and absolute discretion, Buyer shall have no obligation to construct such parking lot. In the event Buyer does not construct
a parking lot on the Crossroads Parking Parcel, Buyer covenants that it shall not transfer or convey the Crossroads Parking Parcel
unless (i) such transaction also includes the conveyance of the 11500 Crossroads Property or (ii) the 11500 Crossroads Property
has previously been transferred in connection with any foreclosure or deed in lieu of foreclosure.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The provisions of this Section 9.4 shall survive Closing.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;X</FONT><U><BR>
ADJUSTMENTS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">Unless otherwise provided below, the following
are to be adjusted and prorated between Seller and Buyer as of 11:59 P.M. on the day preceding the Closing, based upon a 365-day
year, with Buyer being deemed to be the owner of the Assets during the entire day of the Closing Date and being entitled to receive
all operating income of the Assets, and being obligated to pay all operating expenses of the Assets, with respect to the Closing
Date and the net amount thereof under this Article&nbsp;X shall be added to (if such net amount is in Seller&rsquo;s favor) or
deducted from (if such net amount is in Buyer&rsquo;s favor) the Purchase Price payable at Closing:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Fixed Rents and Additional Rents</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">All fixed rents (collectively, &ldquo;<U>Fixed Rents</U>&rdquo;) and Additional
Rent (as hereinafter defined; Fixed Rents and Additional Rent being together referred to herein as &ldquo;<U>Rents</U>&rdquo;)
paid by Tenants in connection with the Tenants&rsquo; occupancy of the Assets, Security Deposits (except as hereinafter provided)
and other tenant charges shall be prorated. Seller shall deliver or provide a credit in an amount equal to all prepaid Rents for
periods from and after the Closing Date and all refundable cash Security Deposits required under the applicable Space Lease, including
interest thereon, if any, as set forth on <U>Schedule 3.2(b-4)</U> (to the extent the foregoing were not applied in accordance
with this Agreement or forfeited prior to the Closing) to Buyer on the Closing Date. Seller shall also deliver to Buyer at Closing
any original security deposits that are held in the form of letters of credit (the &ldquo;<U>SD Letters of Credit</U>&rdquo;) and
completed transfer forms for the purpose of transferring such SD Letters of Credit to Buyer if the same are transferable, at Seller&rsquo;s
sole cost (including Seller&rsquo;s payment of any third party transfer fees and expenses); if any of the SD Letters of Credit
is not transferable, Seller shall request the Tenants</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="background-color: white">obligated under such
SD Letters of Credit to cause new letters of credit to be issued in favor of Buyer in replacement thereof and in the event such
a new letter of credit is not issued in favor of Buyer by Closing, Buyer shall diligently pursue such replacement after Closing
and Seller shall take all reasonable action, as directed by Buyer in writing, in connection with the presentment of such SD Letters
of Credit for payment as permitted under the terms of the applicable Space Lease. Rents that are delinquent (or payable but unpaid)
as of the Closing Date shall not be prorated on the Closing Date. Buyer shall include such delinquencies (or unpaid amounts) in
its normal billing and shall in good faith use commercially reasonable efforts to pursue the collection of such past due Rents
for a period of one hundred twenty (120) days after the Closing Date (but Buyer shall not be required to litigate, declare a default
under any Space Lease or take any additional actions in connection with the recovery from Tenants of such delinquencies or other
unpaid amounts). To the extent Buyer receives payment of Rents (or income in connection with other tenant charges) on or after
the Closing Date, such payments shall be applied first toward the Rent (or other tenant charge) for the month in which the Closing
occurs, and then to the current Rent (or other tenant charges) owed to Buyer in connection with the applicable Space Lease or other
document for which such payments are received, and then to any delinquent Rents (or other tenant charges) owed to Seller, with
Seller&rsquo;s share thereof being promptly delivered to Seller; provided, however, that any year-end or similar reconciliation
payment shall be allocated as hereinafter provided. With respect to delinquent or other uncollected Rents and any other amounts
or other rights of any kind respecting Tenants who are no longer Tenants of the Property as of the Closing Date, Seller shall retain
all of the rights relating thereto. For the purposes of this provision, the term &ldquo;<U>Additional Rent</U>&rdquo; shall mean
amounts payable under any Space Lease for (i)&nbsp;so-called common area maintenance or &ldquo;CAM&rdquo; charges, and (ii) so&#45;called
&ldquo;escalation rent&rdquo; or additional rent based upon increases in real estate taxes or operating expenses or labor costs
or cost of living or porter&rsquo;s wages or insurance or other expenses of the Assets or otherwise and to the extent that a Space
Lease provides for base year amounts for operating expenses or taxes, such base year amounts shall be prorated in determining Additional
Rent with respect to such Space Lease. As to any Additional Rent in respect of an accounting period that shall have expired prior
to the Closing but which is payable after the Closing, (i) if a Tenant was underbilled and Buyer receives payment in respect thereof,
Buyer shall pay the entire amount over to Seller upon Buyer&rsquo;s receipt thereof; provided, however, that Buyer may retain such
amounts until Seller has paid Buyer any and all amounts Seller is required to pay Buyer pursuant to the immediately following subsection
(ii), and (ii) if a Tenant was overbilled, Seller shall promptly pay to Buyer the amount of any such overpayment, which Buyer shall
then deliver to the applicable Tenant. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>In order to enable Buyer to make any year-end reconciliations of tenant reimbursements of Additional Rent for the
year in which the Closing takes place after the end thereof, Seller shall determine the amount actually paid or incurred by Seller
in connection with the expenses used to calculate the Additional Rent for the portion of the year of Closing during which Seller
owned the Property (&ldquo;<U>Seller&rsquo;s Actual Reimbursable Tenant Expenses</U>&rdquo;) and the Additional Rent for such actually
paid to Seller by Tenants for the portion of the year in which Closing occurs during which Seller owned the Property (&ldquo;<U>Seller&rsquo;s
Actual Tenant Reimbursements</U>&rdquo;). On or before the date that is one hundred sixty (160) days after the end of the year
in which the Closing takes place, Seller shall deliver to Buyer a reconciliation statement (&ldquo;<U>Seller&rsquo;s Reconciliation
Statement</U>&rdquo;) setting forth (i) Seller&rsquo;s Actual Reimbursable Tenant Expenses, (ii) Seller&rsquo;s Actual Tenant Reimbursements,
and (iii) a calculation of the difference, if</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">any, between the two (<U>i.e.</U>, establishing that Seller&rsquo;s
Actual Reimbursable Tenant Expenses were either more or less than or equal to Seller&rsquo;s Actual Tenant Reimbursements). Any
amount due Seller pursuant to the foregoing calculation (in the event Seller&rsquo;s Actual Tenant Reimbursements are less than
Seller&rsquo;s Actual Reimbursable Tenant Expenses) or Buyer (in the event Seller&rsquo;s Actual Tenant Reimbursements are more
than Seller&rsquo;s Actual Reimbursable Tenant Expenses), as the case may be, shall be paid by Buyer to Seller or by Seller to
Buyer, as the case may be, within thirty (30) days after delivery of Seller&rsquo;s Reconciliation Statement to Buyer. If Buyer
is paid any such amount by Seller, Buyer thereafter shall be obligated to promptly remit the applicable portion to the particular
Tenants entitled thereto, and Buyer shall hold harmless and indemnify Seller for any claims against Seller, including reasonable
attorneys&rsquo; fees and costs actually incurred, related to any such amounts. If Buyer has directly or indirectly transferred
its interest in any part of the Assets to a successor-in-interest or assignee prior to such date, then, on or before the transfer
of such interest, Buyer shall (i) in writing expressly obligate such successor-in-interest or assignee to be bound by the provisions
of this Section&nbsp;10.1, and (ii) deliver written notice of such transfer to Seller, and thereafter Seller shall make the deliveries
specified above with respect to the Property to Buyer&rsquo;s successor-in-interest or assignee. Seller&rsquo;s Reconciliation
Statement shall be final and binding for purposes of this Agreement<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Seller shall be responsible for the reconciliation with Tenants of Additional Rent and Tenant reimbursements thereof
for any calendar year prior to the year in which the Closing takes place. If the amount of Tenant reimbursements collected by Seller
for such prior years is less than the amount of costs paid by Seller for such period in connection with the expenses used to calculate
the Additional Rent (or less than the amount that Seller is entitled to recover under the terms of the Space Leases), then Seller
shall be entitled to bill such Tenants directly and retain any such amounts due from Tenants. If the amount of Tenant reimbursements
collected by Seller for such prior calendar year exceeds the amount of costs paid by Seller with respect to such period (or the
amount that Seller is entitled to recover under the terms of the Space Leases), then, to the extent required under the terms of
the Space Leases, Seller shall remit such excess amounts to the applicable Tenants. In connection with the foregoing, Seller shall
be permitted to make and retain copies of all Space Leases and all billings concerning Tenant reimbursements for such prior years,
and Buyer covenants and agrees to provide Seller with reasonable access to the books and records pertaining to such Tenant reimbursements,
and to otherwise cooperate with Seller (at no material out-of-pocket cost to Buyer) for the purpose of enabling Seller to adequately
respond to any claim by Tenants for reimbursement of Tenant reimbursements previously paid by such Tenants. Seller agrees to deliver
to Buyer copies of such reconciliations with necessary calculations and supporting documentation and information at such time as
Seller delivers same to tenants. The provisions of this Section shall survive the Closing<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Until such time as all amounts required to be paid to Seller by Buyer pursuant
to this Section&nbsp;10.1 shall have been paid in full, Buyer shall furnish to Seller, upon Seller&rsquo;s request, a reporting
of Rents which have been collected by Buyer after the Closing with respect to Space Leases with delinquent Rents as of the Closing.
</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Taxes and Assessments</U>. All real estate and personal property taxes and assessments with respect to the Assets
for the current fiscal year shall be prorated between Seller and Buyer as of the Closing Date (on the basis of the actual number
of days</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">elapsed over the applicable period). Seller shall be responsible
for the payment of any such Taxes that are delinquent as of Closing. If any assessments on the Assets or Property are payable in
installments, then the installment allocable to the period in which the Closing occurs shall be prorated (with Buyer being allocated
the obligation to pay any installments due on or after the Closing Date).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Water and Sewer Charges</U>. Water rates, water meter charges, sewer rents and vault charges, if any (other than
any such charges, rates or rents which are payable by Tenants pursuant to such Tenants&rsquo; Space Leases, for which no adjustment
shall be made), shall be adjusted and prorated on the basis of the fiscal period for which assessed. If there is a water meter,
or meters, on the Assets, Seller agrees that it shall at the Closing furnish a reading of same to a date not more than thirty (30)
days prior to the Closing and the unfixed meter charges and the unfixed sewer rent thereon for the time intervening from the date
of the last reading shall be apportioned on the basis of such last reading, and shall be appropriately readjusted after the Closing
on the basis of the next subsequent bills. Unmetered water charges shall be apportioned on the basis of the charges therefor for
the same period of the preceding calendar year, but applying the current rate thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Utility Charges</U>. Buyer shall transfer all utilities at the Property to its name as of the Closing Date, and
where necessary, post deposits with the utility companies. Seller shall use commercially reasonable efforts to cause all utility
meters to be read as of the Closing Date. Seller shall be entitled to recover any and all deposits held by any utility company
as of the Closing Date; provided that if any such deposit is transferred to Buyer at Closing, Seller shall receive a credit at
Closing in the amount of the deposit so transferred. All charges for utilities shall be prorated outside of the escrow contemplated
herein within sixty (60) days after the Closing Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Leasing Costs</U>. If the Closing occurs, except as otherwise set forth herein (including but not limited to Section
10.9), Buyer shall be responsible for the payment (or, in the case of any amounts payable prior to Closing, the reimbursement to
Seller) of (A) all Leasing Costs that become due and payable (whether before or after Closing) as a result of (1) any Space Lease
entered into by Seller with respect to the Property on or after the Effective Date in accordance with the terms of this Agreement
(a &ldquo;<U>New Lease</U>&rdquo;), (2) amendments entered into during the period from (and including) the Effective Date until
the earlier of the Closing or termination of this Agreement, in accordance with this Agreement to renew, extend, expand or otherwise
amend Existing Leases or New Leases, and (3) any renewals, extensions or expansions of, or the exercise of any other option under,
Existing Leases or New Leases exercised by Tenants during the period from (and including) the Effective Date and the Closing Date;
and (B) all Leasing Costs as a result of renewals, extensions, expansions, or the exercise of any other option, occurring on or
after the Closing Date of Existing Leases or New Leases (collectively, &ldquo;<U>Buyer&rsquo;s Leasing Costs</U>&rdquo;). Seller
shall be responsible for all other Leasing Costs, including all Leasing Costs that are payable by reason of (i) the execution of
an Existing Lease, (ii) the renewal, extension, expansion of, or the exercise of any other option under, an Existing Lease, prior
to the Effective Date, and (iii) amendments of an Existing Lease entered into prior to the Effective Date (collectively, &ldquo;<U>Seller&rsquo;s
Leasing Costs</U>&rdquo;). If, as of the Closing Date, Seller shall have paid any Leasing Costs which are Buyer&rsquo;s Leasing
Costs, Buyer shall reimburse Seller therefor at Closing. Seller shall pay (or cause to be paid) prior to Closing or credit Buyer
at</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Closing (to the extent unpaid), all Leasing Costs that remain
unpaid or outstanding as of the Closing Date which are Seller&rsquo;s Leasing Costs and, subject to the reimbursement obligations
set forth above, Seller shall pay (or cause to be paid) when due all Leasing Costs payable after the Effective Date and prior to
Closing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Assumed Contracts</U>. Amounts due under the Assumed Contracts with Buyer to receive a credit at Closing for any
amounts unpaid and attributable for the period prior to the Closing Date and Seller to receive a credit at Closing for any amounts
previously paid and attributable to the period on and following the Closing Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>REAs</U>. If applicable, all amounts due and payable by the owner of the Property under any REA with respect to
the Property with respect to the year in which the Closing occurs shall be adjusted and prorated based on the periods of ownership
by Seller and Buyer during such year.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Associations</U>. If applicable, all association fees or similar fees and assessments due and payable with respect
to the Property with respect to the year in which the Closing occurs shall be adjusted and prorated based on the periods of ownership
by Seller and Buyer during such year.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>YBR</U></FONT><U> Property</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>To the extent Seller enters into the YBR Lease <FONT STYLE="background-color: white">prior to the Closing Date for
the entire YBR Property pursuant to the terms of Section 3.3(c)(ii), </FONT>the Closing shall occur as herein provided without
any reduction of or credit against the Purchase Price; provided however, notwithstanding anything to the contrary set forth in
Section 10.5, Seller shall be responsible for all Leasing Costs with respect to the <FONT STYLE="background-color: white">YBR Lease</FONT>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>To the extent Seller does not enter into the YBR Lease <FONT STYLE="background-color: white">prior to the Closing
Date for the entire YBR Property pursuant to the terms of Section 3.3(c)(ii), Buyer and Seller agree that Two Million and No/100
Dollars ($2,000,000.00) of the Purchase Price shall be held back from the Closing proceeds and deposited into an escrow with Escrow
Agent (the &ldquo;<U>YBR Holdback</U>&rdquo;).</FONT> In the event Buyer does not enter into the YBR Lease <FONT STYLE="background-color: white">between
the Closing</FONT> Date and June 30, 2018, <FONT STYLE="background-color: white">Escrow Agent shall automatically release the YBR
Holdback to Buyer on July 1, 2018. </FONT>In the event Buyer enters into the YBR Lease <FONT STYLE="background-color: white">between
the Closing</FONT> Date and June 30, 2018, upon the delivery of joint written instructions from <FONT STYLE="background-color: white">Buyer
and Seller </FONT>to Escrow Agent, <FONT STYLE="background-color: white">Escrow Agent shall (i) release the YBR Holdback to Seller,
less any Leasing Costs</FONT> with respect to the <FONT STYLE="background-color: white">YBR Lease, and (ii) release the balance
of the YBR Holdback to Buyer.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">This Section&nbsp;10.9 shall survive the Closing. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;10.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Other Adjustments</U>. If applicable, the Purchase Price shall be adjusted at Closing to reflect the adjustment
of any other item which, under the explicit terms of this Agreement, is to be apportioned at Closing. Any other items of operating
income or operating expense that are customarily apportioned between the parties in real estate closings of comparable commercial
properties in the metropolitan area where the Property are located, shall be prorated as applicable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; text-transform: uppercase">&nbsp;&nbsp;&nbsp;
</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Section&nbsp;10.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Re-Adjustment</U>. In the event any prorations or apportionments made under this Article&nbsp;X shall prove to
be incorrect for any reason, then any party shall be entitled to an adjustment to correct the same. Any item that cannot be finally
prorated because of the unavailability of information shall be tentatively prorated on the basis of the best data then available
and reprorated when the information is available. Notwithstanding anything to the contrary set forth herein, all reprorations
contemplated by this Agreement shall be completed within one (1) year after Closing (subject to extension solely as necessary
due to the unavailability of final information but in no event to exceed two (2) years after Closing). The obligations of Seller
and Buyer under this Article&nbsp;X shall survive the Closing for two (2) years.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;XI</FONT><U><BR>
INDEMNIFICATION</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Indemnification by Seller</U>. Following the Closing and subject to Section&nbsp;11.3, Section&nbsp;11.4, Section&nbsp;11.5
and Section&nbsp;11.8, Seller shall indemnify and hold Buyer and its Affiliates, members, partners, shareholders, officers, directors,
employees, representatives and agents of each of the foregoing (collectively, the &ldquo;<U>Buyer-Related Entities</U>&rdquo;)
harmless from and against any and all costs, fees, expenses, damages, deficiencies, interest and penalties (including, without
limitation, reasonable attorneys&rsquo; fees and disbursements) suffered or incurred by Buyer and any such Buyer-Related Entities
in connection with any and all losses, liabilities, claims, damages and expenses (&ldquo;<U>Losses</U>&rdquo;), arising out of,
or resulting from, (a) any breach of any representation or warranty of Seller or Parent contained in this Agreement or in any Closing
Document, (b) any breach of any covenant of Seller or Parent contained in this Agreement or in any Closing Document that expressly
survives the Closing and (c) claims asserted by third parties relating to the Assets, but only if and to the extent such Losses
first arise or accrue prior to the Closing Date, even if such claim is asserted on or after the Closing Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Indemnification by Buyer</U>. From and after the Closing and subject to Section&nbsp;11.4 and Section&nbsp;11.5,
Buyer shall indemnify and hold Seller and its Affiliates, members, partners, shareholders, officers, directors, employees, representatives
and agents of each of the foregoing (collectively, the &ldquo;<U>Seller-Related Entities</U>&rdquo;) harmless from any and all
Losses suffered or incurred by Seller and any Seller-Related Entities in connection with any Losses arising out of, or in any way
resulting from, (a) any breach of any representation or warranty by Buyer contained in this Agreement or in any Closing Document,
(b) any breach of any covenant of Buyer contained in this Agreement or in any Closing Document that expressly survives the Closing
and (c) claims asserted by third parties relating to the Assets, but only if and to the extent such Losses first arise or accrue
after the Closing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Limitations on Indemnification</U>. Notwithstanding the foregoing provisions of Section&nbsp;11.1, (a) Seller
shall not be required to indemnify Buyer or any Buyer-Related Entities under Section&nbsp;11.1 unless the aggregate of all amounts
for which an indemnity would otherwise be payable by Seller under Section&nbsp;11.1 exceeds the Basket Limitation and, in such
event, Seller shall be responsible for the entire amount and (b) in no event shall the liability of Seller with respect to the
indemnification provided for in Section&nbsp;11.1 exceed in the aggregate the Cap Limitation (provided that (i) Seller&rsquo;s
obligations under Article&nbsp;X with respect to prorations and adjustments, (ii) Seller&rsquo;s obligations under Section 9.1
with respect to transaction</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">costs, (iii) Seller&rsquo;s obligations for the breach of
any of the representations and warranties set forth in Section 3.2(o) with respect to Taxes, (iv) Seller&rsquo;s obligations under
Section 15.1 with respect to Employees, and (v) Seller&rsquo;s obligations under Section 16.2 with respect to brokers shall not
be subject to the Basket Limitation or the Cap Limitation).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Survival</U>. The representations, warranties and covenants contained in this Agreement and the Closing Documents
shall survive for a period of twelve (12) months after the Closing unless a longer or shorter survival period is expressly provided
for in this Agreement (such period, the &ldquo;<U>Survival Period</U>&rdquo;). No action or proceeding thereon shall be valid or
enforceable, whether at law or in equity, if a legal proceeding is not commenced on or before the expiration of the Survival Period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Notification</U>. In the event that any indemnified party (the &ldquo;<U>Indemnified Party</U>&rdquo;) becomes
aware of any claim or demand for which an indemnifying party (an &ldquo;<U>Indemnifying Party</U>&rdquo;) may have liability to
such Indemnified Party hereunder (an &ldquo;<U>Indemnification Claim</U>&rdquo;), such Indemnified Party shall promptly, but in
no event more than thirty (30) days following such Indemnified Party&rsquo;s having become aware of such Indemnification Claim,
notify the Indemnifying Party in writing of such Indemnification Claim, the amount or the estimated amount of damages sought thereunder
to the extent then ascertainable (which estimate shall not be conclusive of the final amount of such Indemnification Claim), any
other remedy sought thereunder, any relevant time constraints relating thereto and, to the extent practicable, any other material
details pertaining thereto, in each case to the extent actually known to such party (a &ldquo;<U>Claim Notice</U>&rdquo;); provided,
that no delay on the part of the Indemnified Party in giving such Claim Notice shall relieve the Indemnifying Party of any indemnification
obligations hereunder except to the extent that the Indemnifying Party is prejudiced by such delay.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Indemnification as Sole Remedy</U>. If the Closing has occurred, the sole and exclusive remedy available to a
party in the event of a breach by the other party to this Agreement of any representation, warranty, covenant or other provision
of this Agreement or any Closing Document which expressly survives the Closing shall be the indemnifications provided for under
this Article&nbsp;XI, except as it relates to prorations obligations under Article&nbsp;X and the indemnification obligations under
Section&nbsp;9.1, Section 15.1 and Section 16.2.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Tax Treatment of Indemnity</U>. Seller and Buyer agree that any indemnity payments made under this Agreement shall
be treated as adjustments to the Purchase Price for all tax purposes, unless otherwise required by Applicable Law.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;11.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Damages</U>. In no event shall Buyer or any Buyer-Related Entity be entitled to seek or obtain consequential,
speculative, special, punitive or exemplary damages against Seller, except with respect to any claims asserted by third parties.
In no event shall Seller or Seller-Related Entity be entitled to seek or obtain consequential, speculative, special, punitive or
exemplary damages against Buyer.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; color: #010000; text-transform: uppercase; text-align: center; text-indent: 0in"></P>


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<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Article&nbsp;XII</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center"><U><BR>
TAX CERTIORARI PROCEEDINGS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;12.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Prosecution and Settlement of Proceedings</U>. If any tax reduction proceedings (including, but not limited to,
administrative and/or judicial proceedings or appeals) in respect of the Property, relating to any fiscal years ending prior to
the fiscal year in which the Closing occurs are pending at the time of the Closing, (provided that Seller shall not institute any
such proceeding between the Effective Date and the Closing), Seller reserves and shall have the right to continue to prosecute
and/or settle the same. If any tax reduction proceedings in respect of the Property, relating to the fiscal year in which the Closing
occurs, are pending at the time of Closing, then Seller reserves and shall have the right to continue to prosecute and/or settle
the same; provided, however, that Seller shall not settle any such proceeding without Buyer&rsquo;s prior written consent. Buyer
shall reasonably cooperate with Seller in connection with the prosecution of any such tax reduction proceedings. Seller shall keep
Buyer reasonably informed of the status of any reduction proceedings that Seller is prosecuting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;12.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Application of Refunds or Savings</U>. Any refunds or savings in the payment of taxes resulting from such tax
reduction proceedings on account of taxes allocable to the period prior to the Closing Date shall belong to and be the property
of Seller, and any refunds or savings in the payment of taxes on account of taxes allocable to the period from and after the Closing
Date shall belong to and be the property of Buyer; provided, however, that if any such refund creates an obligation to reimburse
any Tenants for any Rents or Additional Rent paid or to be paid, that portion of such refund equal to the amount of such required
reimbursement (after deduction of allocable expenses as may be provided in the Space Lease to such Tenant) shall, at Seller&rsquo;s
election, either (a) be paid to Buyer and Buyer shall disburse the same to such Tenants or (b) be paid by Seller directly to the
Tenants entitled thereto. All attorneys&rsquo; fees and other expenses incurred in obtaining such refunds or savings shall be apportioned
between Seller and Buyer in proportion to the gross amount of such refunds or savings payable to Seller and Buyer, respectively
(without regard to any amounts reimbursable to Tenants); <U>provided</U>, <U>however</U>, that neither Seller nor Buyer shall have
any liability for any such fees or expenses in excess of the refund or savings paid to such party unless such party initiated such
proceeding.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;12.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Survival</U>. The provisions of this Article&nbsp;XII shall survive the Closing.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;XIII</FONT><U><BR>
DEFAULT</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;13.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Buyer&rsquo;s Default; Failure of Conditions</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>This Agreement may be terminated by Seller prior to the Closing if (i) any of the conditions precedent to Seller&rsquo;s
obligations set forth in Section&nbsp;5.1 have not been satisfied or waived by Seller on or prior to the Closing Date or (ii) there
is a material breach or default by Buyer to pay the Purchase Price and purchase the Assets on the Closing Date<FONT STYLE="background-color: white">.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">In the event this Agreement is terminated pursuant to Section&nbsp;13.1(a)(i),
</FONT>the Escrow Agent <FONT STYLE="background-color: white">shall, subject to Section 16.5, disburse the </FONT>Earnest Money
to Buyer, and upon such disbursement <FONT STYLE="background-color: white">this Agreement shall be null and void and of no further
force or effect and neither party shall have any rights or obligations against or to the other except for those provisions hereof
which by their terms expressly survive the termination of this Agreement. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>In the event Seller terminates this Agreement pursuant to Section&nbsp;13.1(a)(ii), the Escrow Agent <FONT STYLE="background-color: white">shall,
subject to Section 16.5, disburse </FONT>Earnest Money to Seller, and upon such disbursement Seller and Buyer shall have no further
obligations under this Agreement, except those which expressly survive such termination. Buyer and Seller hereby acknowledge and
agree that it would be impractical and/or extremely difficult to fix or establish the actual damage sustained by Seller as a result
of such default by Buyer, and agree that the Earnest Money is a reasonable approximation thereof. Accordingly, in the event that
Buyer breaches this Agreement by materially defaulting in the purchase of the Assets on the Closing Date, the Earnest Money shall
constitute and be deemed to be the agreed and liquidated damages of Seller, and shall be paid by the Escrow Agent to Seller as
Seller&rsquo;s sole and exclusive remedy hereunder<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;13.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white"><U>Seller&rsquo;s Default; Failure of Conditions</U></FONT>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>This Agreement may be terminated by Buyer prior to the Closing if (i) any of the conditions precedent to Buyer&rsquo;s
obligations set forth in Section&nbsp;5.2 have not been satisfied or waived by Buyer on or prior to the Closing Date or (ii) there
is a material breach or default by Seller in the performance of its obligations under this Agreement<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Upon termination of this Agreement by Buyer pursuant to Section&nbsp;13.2(a)(i),
the Escrow Agent shall, subject to Section 16.5, disburse the Earnest Money to Buyer, and upon such disbursement Seller and Buyer
shall have no further obligations under this Agreement, except those which expressly survive such termination.</FONT> In addition
to the other rights and remedies available to Buyer hereunder, if Buyer elects to terminate this Agreement due to a <FONT STYLE="background-color: white">failure
to obtain Shareholder Approval</FONT>, Seller shall pay to Buyer within five (5) Business Days following the date of such termination
the Reimbursement Amount.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Upon </FONT>material breach or default by Seller in the performance of its
obligations under this Agreement, Buyer, at its option, may (i) terminate this Agreement, direct the Escrow Agent to deliver the
Earnest Money to Buyer, at which time this Agreement shall be terminated and of no further force and effect except for the provisions
which explicitly survive such termination or (ii) specifically enforce the terms and conditions of this Agreement (without the
necessity of proving the inadequacy of money damages as a remedy); provided that such specific enforcement action must be initiated
no later than sixty (60) days following such default. In addition to the other rights and remedies available to Buyer hereunder,
if Buyer elects to terminate this Agreement due to a material breach or default by Seller in the performance of its obligations
under this Agreement, Seller shall pay to Buyer within five (5) Business Days following the date of such termination the Reimbursement
Amount.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; color: #010000; text-transform: uppercase; text-align: center; text-indent: 0in"></P>


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<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Article&nbsp;XIV<U><BR></U></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center"><U>Public Company</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;14.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Preparation of the Proxy Statement; Shareholders Meeting</U><FONT STYLE="background-color: white">. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>As promptly as reasonably practicable following the Effective Date (and, in any event, no more than five (5) Business
Days following the Effective Date), Parent shall prepare the Proxy Statement and, after consultation with and consideration in
good faith of any comments on the Proxy Statement reasonably proposed by Buyer, cause to be filed with the SEC the Proxy Statement
in preliminary form; provided, however, that Parent shall not file the Proxy Statement with the SEC without obtaining the prior
written consent of Buyer, which consent shall not be unreasonably withheld, conditioned, or delayed. Parent shall use its reasonable
best efforts to (i) obtain and furnish the information required to be included by the SEC in the Proxy Statement, respond, after
consultation with Buyer, promptly to any comments made by the SEC with respect to the Proxy Statement, (ii) mail or deliver the
definitive Proxy Statement to its shareholders as promptly as practicable after the earlier to occur of (x) receiving notification
that the SEC is not reviewing the preliminary Proxy Statement or (y) the conclusion of any SEC review of the preliminary Proxy
Statement and (iii) if necessary, after the definitive Proxy Statement shall have been so mailed, promptly circulate amended or
supplemental proxy materials and, if required in connection therewith, resolicit proxies; provided, that no such amended or supplemental
proxy materials will be filed with the SEC or mailed by Parent without affording Buyer a reasonable opportunity for consultation
and review, and Parent shall consider in good faith any comments on such materials reasonably proposed by Buyer. Parent will promptly
notify Buyer of the receipt of comments from the SEC and of any request from the SEC for amendments or supplements to the Proxy
Statement or for additional information, and will promptly supply Buyer with copies of all written correspondence between Parent
or its Representatives, on the one hand, and the SEC or members of its staff, on the other hand, with respect to the Proxy Statement,
this Agreement or the transactions contemplated by this Agreement. Prior to responding to any comments of the SEC or members of
its staff, Parent shall provide Buyer with a reasonable opportunity to consult and review such response and Parent shall consider
in good faith any comments on such response reasonably proposed by Buyer. Buyer shall furnish all information concerning itself,
its Affiliates and the holders of its capital stock to Parent as may be required to be disclosed in the Proxy Statement, and provide
such other assistance as may be reasonably requested by Parent in connection with the preparation, filing and distribution of the
Proxy Statement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>If, at any time prior to the Shareholder Meeting, any information relating to Parent or Buyer, or any of their respective
subsidiaries, or their respective officers or directors, should be discovered by Parent or Buyer, as the case may be, which, pursuant
to the Exchange Act, should be set forth in an amendment of, or a supplement to, the Proxy Statement, so that the Proxy Statement
would not include any misstatement of a material fact or omit to state any material fact necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading, Parent or Buyer, as the case may be, shall promptly notify
the other parties hereto, and Parent and Buyer shall cooperate in the prompt filing with the SEC of any necessary amendment of,
or supplement to, the Proxy Statement describing such information and, to the extent required by Applicable Law, in disseminating
the information contained in</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">such amendment or supplement to shareholders of Parent. Nothing
in this Section 14.1(b) shall limit the obligations of any party under Section 14.1(a). All documents that Parent is responsible
for filing with the SEC in connection with this Agreement and the transactions contemplated by this Agreement will, at the time
of the first mailing thereof, at the time of the Shareholder Meeting or at the time of any amendment or supplement thereof, as
applicable, comply as to form and substance in all material respects with the applicable requirements of the Exchange Act and the
rules and regulations thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>As promptly as practicable after the date hereof, Parent shall, in accordance with Applicable Law, the rules of the
Parent Charter and the Parent Bylaws, duly call, give notice of, convene and hold the Shareholder Meeting. Parent shall, through
the Parent Board, recommend to its shareholders that they provide the Shareholder Approval, include such recommendation in the
Proxy Statement and solicit and use its reasonable best efforts to obtain the Shareholder Approval (including by soliciting proxies
from its shareholders), except to the extent that the Parent Board shall have made an Adverse Recommendation Change as permitted
by and determined in accordance with Section 14.2. Parent shall keep Buyer updated with respect to proxy solicitation results as
reasonably requested by Buyer. Unless this Agreement is terminated in accordance with its terms, Parent shall not submit to the
vote of its shareholders any Acquisition Proposal. Notwithstanding the foregoing provisions of this Section 14.1(c), Parent may
make or one or more adjournments or postponements of the Shareholder Meeting after consultation with Buyer (i) to the extent necessary
to ensure that any necessary supplement or amendment to the Proxy Statement is provided to the shareholders of Parent sufficiently
in advance of the Shareholder Meeting to ensure that the vote occurs on the basis of full and complete information as required
by Applicable Law or regulation or (ii) if, in the reasonable discretion of Parent, additional time is required to solicit proxies
in favor of the approval of this Agreement and the transactions contemplated hereby; provided, that in the case of this clause
(ii), without the consent of Buyer (not to be unreasonably withheld, conditioned or delayed), in no event shall the Shareholder
Meeting (as so postponed or adjourned) be held on a date that is more than thirty (30) days after the date for which the Shareholder
Meeting was originally scheduled; provided, further, that such consent of Buyer may be withheld in its sole discretion if following
the date hereof an Acquisition Proposal shall have been received by Parent or its Representatives or any Person (other than Buyer)
shall have publicly announced an intention (whether or not conditional) to make an Acquisition Proposal unless any such Acquisition
Proposal shall have been withdrawn at least thirty (30) days prior to the date for which the Shareholder Meeting was originally
scheduled. Unless this Agreement shall have been terminated in accordance with its terms, the obligation of Parent to duly call,
give notice of, convene and hold the Shareholder Meeting, mail the Proxy Statement (and any amendment or supplement thereto that
may be required by Applicable Law) to Parent's shareholders and solicit proxies in favor of the Shareholder Approval shall not
be affected by an Adverse Recommendation Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;14.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Solicitation; Acquisition Proposals</U><FONT STYLE="background-color: white">. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Except as otherwise provided in this Section 14.2, from the Effective Date until the Closing or earlier termination
of this Agreement, Parent shall not, and shall cause its subsidiaries and its and their officers and directors not to, and shall
not authorize and shall use reasonable best efforts to cause any other Representatives of Parent or any of its subsidiaries not</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">to, directly or indirectly, (i) solicit, initiate, knowingly
encourage or knowingly facilitate any inquiry, proposal or offer that constitutes, or could reasonably be expected to lead to,
an Acquisition Proposal (an &quot;<U>Inquiry</U>&quot;), (ii) enter into, continue or otherwise participate or engage in any negotiations
or discussions regarding, or furnish to any Person other than Buyer or its Representatives any non-public information or data in
furtherance of, any Acquisition Proposal or Inquiry, (iii) approve, recommend, declare advisable or enter into any letter of intent,
memorandum of understanding, agreement in principle, acquisition agreement, merger agreement, share exchange agreement, consolidation
agreement, option agreement, joint venture agreement, partnership agreement or other agreement, in each case related to an Acquisition
Proposal (other than an Acceptable Confidentiality Agreement), or requiring or having the effect of requiring Parent to abandon,
terminate or breach its obligations hereunder or fail to consummate the transactions contemplated hereby (each item referred to
in this clause (iii), a &quot;<U>Alternative Acquisition Agreement</U>&quot;), or (iv) agree to or propose publicly to do any of
the foregoing. Parent shall, and shall cause each of its subsidiaries to, and shall direct the Representatives of Parent and its
subsidiaries to, (A) immediately cease and cause to be terminated all existing discussions and negotiations with any Person and
its Representatives (other than Buyer or any of its Representatives) conducted heretofore with respect to any Acquisition Proposal,
and (B) not terminate, amend, release or modify any provision of any standstill agreement (including any standstill provisions
contained in any confidentiality or other agreement) to which it or any of its Affiliates or Representatives is a party.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding anything herein to the contrary, but subject to Parent's compliance with this Section 14.2, if, at
any time following the Effective Date and prior to obtaining the Shareholder Approval, (i) Parent receives an unsolicited written
Acquisition Proposal that the Parent Board believes in good faith to be bona fide, (ii) such Acquisition Proposal was not the result
of a violation of Section 14.2(a), and (iii) the Parent Board determines in good faith (after consultation with outside legal counsel
and its financial advisor) that such Acquisition Proposal constitutes, or would reasonably be expected to lead to, a Superior Proposal,
then Parent may (and may authorize its Representatives to) (x) furnish non-public information with respect to Parent and its subsidiaries
to the Person making such Acquisition Proposal (and its Representatives) pursuant to an Acceptable Confidentiality Agreement; provided,
that any non-public information provided to any Person given such access shall have previously been provided to Buyer or shall
be provided to Buyer as soon as reasonably practicable (and in any event within 24 hours of the time it is provided to such Person),
and (y) participate in negotiations with the Person making such Acquisition Proposal (and such Person's Representatives) regarding
such Acquisition Proposal. Notwithstanding anything to the contrary in this Agreement, Parent and its Representatives may correspond
in writing with any Person submitting an Acquisition Proposal (that was not the result of a violation of Section 14.2(a)) to request
clarification of the terms of an Acquisition Proposal so as to determine whether such Acquisition Proposal constitutes, or would
reasonably be expected to lead to, a Superior Proposal.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Except as provided in Section 14.2(d), the Parent Board (i)(A) shall not fail to make and shall not withdraw (or
modify or qualify in any manner adverse to Buyer or publicly propose to withdraw, modify or qualify in any manner adverse to Buyer)
the Parent Board Recommendation, (B) shall not adopt, approve, recommend, endorse or otherwise declare advisable any Acquisition
Proposal or proposal reasonably likely to lead to an Acquisition</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Proposal (or publicly propose or resolve to do any of the
foregoing), (C) shall not fail to include the Parent Board Recommendation in the Proxy Statement, (D) take any action or make any
recommendation or public statement in connection with a tender offer or exchange offer other than an unequivocal recommendation
against such offer or a temporary &ldquo;stop, look and listen&rdquo; communication by the Parent Board of the type contemplated
by Rule 14d-9(f) under the Exchange Act in which the Parent Board or the Parent indicates that the Parent Board has not changed
the Parent Board Recommendation or (E) fail to reaffirm the Parent Board Recommendation within the earlier of three (3) Business
Days prior to the Shareholders Meeting and five (5) Business Days after receiving a written request to do so from Buyer (each such
action set forth in this Section 14.2(c)(i) being referred to herein as an &quot;<U>Adverse Recommendation Change</U>&quot;), and
(ii) shall not authorize, cause or permit Parent or any of its subsidiaries to enter into any Alternative Acquisition Agreement
relating to any Acquisition Proposal (other than an Acceptable Confidentiality Agreement pursuant to Section 14.2(a)).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding anything in this Agreement to the contrary, at any time prior to obtaining the Shareholder Approval,
the Parent Board may (i) make an Adverse Recommendation Change in response to an Intervening Event if the Parent Board determines
in good faith, after consultation with its outside legal counsel, that the failure to do so in response to such Intervening Event
would violate its duties under Applicable Law or (ii) make an Adverse Recommendation Change in response to an unsolicited written
bona fide Acquisition Proposal (and Parent is not in breach of this Section 14.2) that, in the good faith determination of the
Parent Board, after consultation with outside legal counsel and financial advisors, constitutes a Superior Proposal if the Parent
Board determines in good faith, after consultation with its outside legal counsel, that the failure to do so in response to such
Intervening Event would violate its duties under Applicable Law; provided, that the Parent Board shall only be entitled to effect
an Adverse Recommendation Change if (A) Parent has provided a prior written notice (a &quot;<U>Notice of Change of Recommendation</U>&quot;)
to Buyer that Parent intends to take such action, identifying the Person or entity making the Superior Proposal and describing
in reasonable detail the material terms and conditions of the Superior Proposal or Intervening Event, as applicable, that is the
basis of such action including, if applicable, copies of any written proposals or offers and any proposed agreements related to
a Superior Proposal (it being agreed that the delivery of the Notice of Change of Recommendation by Parent shall not constitute
a Adverse Recommendation Change), (B) during the five (5) Business Day period following Buyer's receipt of the Notice of Change
of Recommendation, Parent shall, and shall cause its Representatives to, negotiate with Buyer in good faith (to the extent Buyer
desires to negotiate) to make such adjustments in the terms and conditions of this Agreement, so that, in the case of a Superior
Proposal, such Superior Proposal ceases to constitute a Superior Proposal, or, in the case of an Intervening Event, in order to
obviate the need to make such Adverse Recommendation Change; and (C) following the end of such five (5) Business Day period, the
Parent Board shall have determined in good faith, taking into account any changes to this Agreement proposed in writing by Buyer
in response to the Notice of Change of Recommendation or otherwise, that (I) after consultation with outside legal counsel and
financial advisors, the Superior Proposal giving rise to the Notice of Change of Recommendation continues to constitute a Superior
Proposal and the failure of the Parent Board to effect an Adverse Recommendation Change would violate the directors&rsquo; duties
under Applicable Law or (II) after consultation with outside counsel, in the case of an Intervening Event, the failure of the Parent
Board to effect an Adverse Recommendation Change would violate the directors' duties under Applicable Law. Any amendment to the
financial terms or any</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">other material amendment of such a Superior Proposal shall
require a new Notice of Change of Recommendation, and Parent shall be required to comply again with the requirements of this Section
14.2(d); provided, however, that references to the five (5) Business Day period above shall then be deemed to be references to
a four (4) Business Day period following receipt by Buyer of any such new Notice of Change of Recommendation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Parent shall promptly (but in no event later than 24 hours) notify Buyer after receipt of any Acquisition Proposal
or any request for non-public information relating to Parent or any of its subsidiaries by any third party that informs Parent
that it is making, or has made, an Acquisition Proposal, or any Inquiry from any Person seeking to have discussions or negotiations
with Parent relating to a possible Acquisition Proposal. Such notice shall be made orally and confirmed in writing, and shall identify
the Person making such Acquisition Proposal or Inquiry and shall indicate the material terms and conditions of any Acquisition
Proposals or Inquiries to the extent known (including, if applicable, providing copies of any written Inquiries or requests and
any proposed agreements related thereto, which may be redacted to the extent necessary to protect confidential information of the
business or operations of the Person making such Acquisition Proposals or Inquiries). Parent shall also promptly (and in any event
within 48 hours), notify Buyer, orally arid in writing, (i) if Parent determines to begin providing non-public information or to
engage in discussions or negotiations concerning an Acquisition Proposal pursuant to Section 14.2(b) and shall in no event begin
providing such information or engaging in such discussions or negotiations prior to providing such notice and (ii) of any change
to the financial and other material terms and conditions of any Acquisition Proposal and otherwise keep Buyer reasonably informed
of the status and terms of any such proposals, offers, discussions or negotiations on a current basis, including by providing a
copy of all proposals, offers, drafts of proposed agreements or correspondence relating thereto. Neither Buyer nor any of its subsidiaries
shall, after the Effective Date, enter into any confidentiality or similar agreement that would prohibit it from providing such
information to Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Nothing contained in this Section 14.2 or elsewhere in this Agreement shall prohibit Parent or the Parent Board,
directly or indirectly through its Representatives, from (i) disclosing to Parent's shareholders a position contemplated by Rule
14e-2(a) or Rule 14d-9 promulgated under the Exchange Act or (ii) making any disclosure to the shareholders of Parent if the Parent
Board determines in good faith, after consultation with outside legal counsel, that the failure to make such disclosure would violate
the directors' duties under Applicable Law (for the avoidance of doubt, it being agreed that the issuance by Parent or the Parent
Board of a &quot;stop, look and listen&quot; statement pending disclosure of its position, as contemplated by Rules I 4d-9 and
14e-2(a) promulgated under the Exchange Act, shall not constitute an Adverse Recommendation Change) or is required by Applicable
Law; provided, however, that neither Parent nor the Parent Board shall be permitted to recommend that the shareholders of Parent
tender any securities in connection with any tender offer or exchange offer that is an Acquisition Proposal or effect an Adverse
Recommendation Change with respect thereto, except as permitted by Section 14.2(d).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>For purposes of this Agreement:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>&quot;<U>Acquisition Proposal</U>&quot; means any proposal, offer, or inquiry from any Person or &quot;group&quot;
(as such term is defined in Rule 13d-3 promulgated under the</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Exchange Act) involving any of Parent or Seller or
any of their respective subsidiaries regarding (other than the transactions contemplated by this Agreement): (i) any direct or
indirect acquisition or purchase, in one transaction or a series of transactions, including any merger, reorganization, recapitalization,
restructuring, share exchange, consolidation, tender offer, exchange offer, stock acquisition, asset acquisition, business combination,
liquidation, dissolution, joint venture, sale, lease, exchange, license, transfer or disposition or otherwise, of the assets representing
20% or more of the consolidated net income, consolidated net revenue or consolidated total assets (including equity securities
of its subsidiaries) of Parent and its subsidiaries; (ii) any issue, sale or other disposition (including by way of merger, consolidation,
sale of equity interests, share exchange, joint venture, business combination or otherwise) of securities (or options, rights or
warrants to purchase, or securities convertible into, such securities) representing 20% or more of any class of capital stock;
(iii) any tender offer or exchange offer for 20% or more of any class of capital stock, other equity security or voting power of
Parent or the filing of a registration statement under the Securities Act in connection therewith; (iv) any other transaction or
series of transactions pursuant to which any Person or &quot;group&quot; (as such term is defined in Rule 13d-3 promulgated under
the Exchange Act) proposes to acquire control of any Property or (v) any public announcement of a proposal, plan or intention to
do any of the foregoing or any agreement to engage in any of the foregoing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>&ldquo;<U>Intervening Event</U>&rdquo; shall mean a material positive event, fact, development or occurrence (other
than any event, fact, development or occurrence resulting from a breach of this Agreement by Parent and its subsidiaries) with
respect to the Parent and subsidiaries or the business of Parent or its subsidiaries, in each case taken as a whole, that (a) is
neither known, nor reasonably foreseeable (with respect to substance or timing), by Parent Board as of or prior to the execution
and delivery of this Agreement and (b) first occurs, arises or becomes known to Parent Board after the execution and delivery of
this Agreement and on or prior to the date of the Shareholder Approvals; provided that (i) any event, fact, development or occurrence
that involves or relates to an Acquisition Proposal or a Superior Proposal or any inquiry or communications or matters relating
thereto, (ii) any event, fact, development or occurrence that results from the announcement, pendency and consummation of this
Agreement or the transactions contemplated hereby or any actions required to be taken or to be refrained from being taken pursuant
to this Agreement, (iii) the fact that Parent meets or exceeds any internal or analysts&rsquo; expectations or projections, or
(iv) any changes or lack thereof after the date hereof in the market price or trading volume of the Parent Common Stock, individually
or in the aggregate, will not be deemed to constitute an Intervening Event.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>&quot;<U>Superior Proposal</U>&quot; means any bona fide written Acquisition Proposal made after the date hereof
(with the references to &quot;20%&quot; replaced with &quot;50%&quot;) on terms that the Parent Board determines in good faith,
after consultation with Parent's outside legal counsel and financial advisors, taking into account all legal, financial, regulatory
and other aspects of the proposal and the Person making the proposal and any changes to the terms of this Agreement proposed by
Buyer and any other information provided by Buyer (including pursuant to Section 14.2), that (A) if consummated, would be more
favorable to Parent's shareholders (solely in their capacity as such) from a financial point</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">of view than the transactions contemplated by this
Agreement, and (B) if accepted, is reasonably likely to be completed on the terms proposed on a timely basis.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>References in this Section 14.2 to (a) the Parent Board shall mean the Parent Board or a duly authorized committee
thereof, and (b) Parent outside legal counsel shall mean, as applicable, outside legal counsel to Parent or a duly authorized committee
thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;14.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Termination</U><FONT STYLE="background-color: white">. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer may terminate this Agreement if, prior to obtaining the Shareholder Approval, Parent or the Parent Board or
any committee thereof (A) shall have effected an Adverse Recommendation Change, (B) approves, adopts, publicly endorses or recommends,
or enters into or allows Parent or any of its subsidiaries to enter into an Alternative Acquisition Agreement (other than an Acceptable
Confidentiality Agreement entered into in compliance with Section 14.2), (C) Parent or any of its subsidiaries shall have committed
a willful and material breach of Section 14.2 or (D) fails to publicly recommend against any tender offer or exchange offer subject
to Regulation 14D under the Exchange Act that constitutes an Acquisition Proposal (including, for these purposes, by taking no
position with respect to the acceptance of such tender offer or exchange offer by Parent's shareholders) within five (5) Business
Days after the commencement of such tender offer or exchange offer).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Either Buyer or Parent may terminate this Agreement if the Shareholder Approval shall not have been obtained at the
Shareholder Meeting or at any adjournment, recess or postponement of the Shareholder Meeting taken in accordance with this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>In the event of termination of this Agreement as provided in this Section 14.3, this Agreement shall forthwith become
void and have no effect, without any liability or obligation on the part of Buyer, Parent, or Seller, or their respective Affiliates
or Representatives, relating to, based on or arising under or out of this Agreement, the transactions contemplated hereby or the
subject matter hereof except for the provisions which explicitly survive such termination.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;14.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Parent Termination Fee</U><FONT STYLE="background-color: white">. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>In the event that this Agreement is terminated (i) by Buyer pursuant to Section 14.3(a) or (ii) (A) this Agreement
is terminated (I) by either Parent or Buyer pursuant to Section 14.3(b), (II) by Buyer pursuant to Section 2.3(b) or (III) by Buyer
pursuant to Section 13.2(a)(ii) and (B) (I) before receipt of the Shareholder Approval an Acquisition Proposal shall have been
made known to the Parent Board, the Parent or any of its subsidiaries or shall have been publicly made or disclosed or any Person
shall have publicly announced an intention (whether or not conditional) to make an Acquisition Proposal with respect to Parent
or any of its subsidiaries and (II) within twelve months of such termination, (x) Parent or any of its subsidiaries shall have
entered into an Alternative Acquisition Agreement with respect to, or shall have consummated or shall have approved or recommended
to the Parent's shareholders or otherwise not opposed, an Acquisition Proposal (whether or not such Acquisition Proposal is the
same Acquisition Proposal referred to in clause (ii)(B)(I)) or (y) there shall have been</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">consummated an Acquisition Proposal (whether or not such
Acquisition Proposal is the same Acquisition Proposal referred to in clause (ii)(B)(I)) (substituting in both instances &ldquo;50%&rdquo;
for &ldquo;20%&rdquo; in the definition of &ldquo;Acquisition Proposal&rdquo;), Parent shall pay to Buyer the Reimbursement Amount
and the Parent Termination Fee. Notwithstanding the foregoing, in no event shall Parent be required to pay the Parent Termination
Fee on more than one occasion. Payment of the Reimbursement Amount and the Parent Termination Fee shall be made by wire transfer
of same day funds to the account or accounts designated by Buyer as promptly as reasonably practicable after termination (and,
in any event, within two (2) Business Days thereof).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Except as provided in this Agreement, no termination fee, penalty, charge or damage is payable in connection with
a termination of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Each of the Parent, Seller and Buyer acknowledges that the agreements contained in this Section 14.4 are an integral
part of the transactions contemplated by this Agreement, and that, without these agreements, the Parent, Seller and Buyer would
not enter into this Agreement and the damages resulting from termination of this Agreement under circumstances where the amounts
payable under this Section 14.4 are payable are uncertain and incapable of accurate calculation and, therefore, the amounts payable
pursuant this Section 14.4 are not a penalty but rather constitute amounts akin to liquidated damages in a reasonable amount that
will compensate Buyer, for its efforts and resources expended and opportunities forgone while negotiating this Agreement and in
reliance on this Agreement and on the expectation of the consummation of the transactions contemplated by this Agreement. Accordingly,
if Parent fails to promptly pay the amount due by it pursuant to this Section 14.4 and, in order to obtain such payment Buyer commences
a proceeding that results in a judgment against the Parent for such amount due pursuant to this Section 14.4 or any portion of
such amount, the Parent shall pay to Buyer its costs and expenses (including attorneys&rsquo; fees) in connection with such proceeding,
together with interest on the amount of the fee at the prime rate set forth in the <I>Wall Street Journal, Eastern Edition</I>,
in effect on the date such payment was required to be made from the date such payment was required to be made through the date
of payment.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The provisions of this Section 14.4 shall <FONT STYLE="background-color: white">survive the termination of this Agreement</FONT>.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;XV</FONT><U><BR>
Employees</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;15.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Employees</U><FONT STYLE="background-color: white">. Effective as of no later than the Closing, Seller shall,
and shall direct the applicable Affiliate of Seller to, with respect to each Employee, (a) reassign or transfer such Employee&rsquo;s
services or (b) terminate the employment of such Employee, such that no Employee provides services at or with respect to the Property
as of and following the Closing. Neither Buyer nor any Affiliate of Buyer shall have any obligation to offer employment or engagement
of services to, hire, or engage the services of any Employee, whether before, as of, or following the Closing. As of and following
the Closing, Seller and its Affiliates shall retain, and Seller shall fully indemnify Buyer and Buyer-Related Entities with respect
to, (i) sponsorship of all of the Employee Benefit Plans and (ii) all liabilities and</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="background-color: white">obligations relating
to any Employee (and any such Employee&rsquo;s employment and termination thereof), Employee Benefit Plan (including any Incentive
Compensation Agreement) or employment practice at or with respect to the Property, in each case, whether arising before, as of,
or following the Closing, including, for the avoidance of doubt, any severance or other termination costs with respect to any Employee
whose employment is terminated pursuant to clause (b) of the first sentence of this Section 15.1. Seller&rsquo;s indemnification
of Buyer and Buyer-Related Entities under this Section 15.1 shall (x) be in addition to, and not in lieu or limitation of, Seller&rsquo;s
indemnification of Buyer and Buyer-Related Entities under Section 11.1 and (y) survive the Closing or any termination of this Agreement
indefinitely.</FONT></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">Article&nbsp;XVI</FONT><U><BR>
MISCELLANEOUS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Exculpation</U><FONT STYLE="background-color: white">. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Notwithstanding anything to the contrary contained herein, Seller&rsquo;s shareholders,
partners, members, the partners or members of such partners or members, the shareholders of such partners or members, and the trustees,
officers, directors, employees, agents and security holders of Seller and the partners or members of Seller assume no personal
liability for any obligations entered into on behalf of Seller and its individual assets shall not be subject to any claims of
any Person relating to such obligations. The foregoing shall govern any direct and indirect obligations of Seller under this Agreement.
The provisions of this Section 16.1(a) shall survive the Closing or any termination of this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">Notwithstanding anything to the contrary contained herein, Buyer&rsquo;s shareholders,
partners, members, the partners or members of such partners or members, the shareholders of such partners or members, and the trustees,
officers, directors, employees, agents and security holders of Buyer and the partners or members of Buyer assume no personal liability
for any obligations entered into on behalf of Buyer and their individual assets shall not be subject to any claims of any Person
relating to such obligations. The foregoing shall govern any direct and indirect obligations of Buyer under this Agreement. The
provisions of this Section 16.1(b) shall survive the Closing or any termination of this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Brokers</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Seller represents and warrants to Buyer that it has dealt with no broker, salesman, finder or consultant with respect
to this Agreement or the transactions contemplated hereby other than Broker. Seller shall be responsible for the payment of any
commission or fee due to Broker in connection with the subject transaction pursuant to a separate agreement. Seller agrees to indemnify,
protect, defend and hold Buyer and Buyer-Related Entities harmless from and against all Losses resulting from Seller&rsquo;s breach
of the foregoing representation in this Section 16.2(a). The provisions of this Section 16.2(a) shall survive the Closing or any
termination of this Agreement indefinitely.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer represents and warrants to Seller that it has dealt with no broker, salesman, finder or consultant with respect
to this Agreement or the transactions contemplated</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">hereby other than Broker. Buyer agrees to indemnify, protect,
defend and hold Seller and Seller-Related Entities harmless from and against all Losses resulting from Buyer&rsquo;s breach of
the foregoing representations in this Section 16.2(b). The provisions of this Section 16.2(b) shall survive the Closing or any
termination of this Agreement indefinitely.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Confidentiality; Press Release; IRS Reporting Requirements</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Buyer and Seller, and each of their respective Affiliates, shall hold as confidential all information disclosed in
connection with the transaction contemplated hereby and concerning each other, the Assets, this Agreement and the transactions
contemplated hereby and shall not release any such information to third parties without the prior written consent of the other
parties hereto, except (i) any information which was previously or is hereafter publicly disclosed (other than in violation of
this Agreement or other confidentiality agreements to which Affiliates of Buyer are parties), (ii) to their partners, advisers,
underwriters, analysts, employees, Affiliates, officers, directors, consultants, lenders, accountants, legal counsel, title companies
or other advisors of any of the foregoing, provided that they are advised as to the confidential nature of such information and
are instructed to maintain such confidentiality or (iii) to comply with any Applicable Law or Nasdaq listing requirements. The
foregoing shall supersede any prior confidentiality agreement that may have been entered into by the parties. The provisions of
this Section 16.3(a) shall survive the Closing or the termination of this Agreement for a period of one (1) year.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Neither Seller nor Buyer may issue a press release with respect to this Agreement and the transactions contemplated
hereby without the prior written consent of the other party and provided that the content of any such press release shall be subject
to the prior written consent of the other party hereto and in no event shall any such press release issued by Buyer disclose the
identity of Seller&rsquo;s direct or indirect beneficial owners by name or the consideration paid to Seller for the Assets.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>For the purpose of complying with any information reporting requirements or other rules and regulations of the IRS
that are or may become applicable as a result of or in connection with the transaction contemplated by this Agreement, including,
but not limited to, any requirements set forth in Treasury Regulation Section 1.6045-4 and any successor version thereof (collectively,
the &ldquo;<U>IRS Reporting Requirements</U>&rdquo;), Seller and Buyer hereby designate and appoint the Escrow Agent to act as
the &ldquo;<U>Reporting Person</U>&rdquo; (as that term is defined in the IRS Reporting Requirements) to be responsible for complying
with any IRS Reporting Requirements. The Escrow Agent hereby acknowledges and accepts such designation and appointment and agrees
to fully comply with any IRS Reporting Requirements that are or may become applicable as a result of or in connection with the
transaction contemplated by this Agreement. Without limiting the responsibility and obligations of the Escrow Agent as the Reporting
Person, Seller and Buyer hereby agree to comply with any provisions of the IRS Reporting Requirements that are not identified therein
as the responsibility of the Reporting Person.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Escrow Provisions</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The parties acknowledge that the Escrow Agent is acting solely as a stakeholder at their request and for their convenience,
that the Escrow Agent shall not be deemed</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">to be the agent of either of the parties, and the Escrow
Agent shall not be liable to either of the parties for any act or omission on its part, other than for its gross negligence or
willful misconduct. Seller and Buyer shall jointly and severally indemnify and hold the Escrow Agent harmless from and against
all costs, claims and expenses, including attorneys&rsquo; fees and disbursements, incurred in connection with the performance
of the Escrow Agent&rsquo;s duties hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Escrow Agent has acknowledged its agreement to these provisions by signing this Agreement in the place indicated
following the signatures of Seller and Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Earnest Money Escrow Account; Escrowed Funds</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Escrow Agent shall hold the Earnest Money in escrow in an interest-bearing bank account reasonably approved by
Seller and Buyer (the &ldquo;<U>Earnest Money Escrow Account</U>&rdquo;). All investments of the Earnest Money shall be subject
to the approval of Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Escrow Agent shall hold the Earnest Money in escrow in the Earnest Money Escrow Account until the Closing or
sooner termination of this Agreement and shall hold or apply such proceeds in accordance with the terms of this Section 16.5(b).
Seller and Buyer understand that no interest is earned on the Earnest Money during the time it takes to transfer into and out of
the Earnest Money Escrow Account. At the Closing, the Earnest Money shall be paid by the Escrow Agent to, or at the direction of,
Seller. If for any reason the Closing does not occur and either party makes a written demand upon the Escrow Agent for payment
of such amount, the Escrow Agent shall, within twenty-four (24) hours thereof give written notice to the other party of such demand.
If the Escrow Agent does not receive a written objection within five (5) Business Days after the giving of such notice, the Escrow
Agent is hereby authorized to make such payment. If the Escrow Agent does receive such written objection within such five (5) Business
Day period or if for any other reason the Escrow Agent in good faith shall elect not to make such payment, the Escrow Agent shall
continue to hold such amount until otherwise directed by joint written instructions from the parties to this Agreement or a final
judgment of a court of competent jurisdiction. However, the Escrow Agent shall have the right at any time to deposit the Earnest
Money with the clerk of the court of New York County. The Escrow Agent shall give written notice of such deposit to Seller and
Buyer. Upon such deposit the Escrow Agent shall be relieved and discharged of all further obligations and responsibilities hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Following the Closing, and subject to Section 3.5 and Section 10.9, the Escrow Agent shall hold the LOC Work Holdback
<FONT STYLE="background-color: white">and/or YBR Holdback</FONT> (collectively, the &ldquo;<U>Escrowed Funds</U>&rdquo;) in escrow
in interest-bearing bank accounts reasonably approved by Seller and Buyer (the &ldquo;<U>Post-Closing Escrow Accounts</U>&rdquo;).
All investments of the Escrowed Funds shall be subject to the approval of Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Escrow Agent shall hold the Escrowed Funds in escrow and shall hold or apply such proceeds in accordance with
the terms of Section 3.5, Section 10.9 and this Section 16.5(d). Seller and Buyer understand that no interest is earned on the
Escrowed Funds during the time it takes to transfer into and out of the Post-Closing Escrow Accounts. If any dispute arises as
to whether the Escrow Agent is obligated to deliver the Escrowed Funds or as to whom the Escrowed Funds are to be delivered or
the amount or timing thereof, the Escrow Agent shall not</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">be required to make any delivery, but in such event the Escrow
Agent may hold the Escrowed Funds until receipt by the Escrow Agent of instructions in writing, signed by all parties which have,
or claim to have, an interest in the Escrowed Funds, directing the disposition of the Escrowed Funds, or in the absence of such
authorization, the Escrow Agent may hold the Escrowed Funds until receipt of a certified copy of a final judgment or order of a
court of competent jurisdiction, providing for the disposition of the Escrowed Funds. However, the Escrow Agent shall have the
right at any time to deposit the Escrowed Funds with the clerk of the court of New York County. The Escrow Agent shall give written
notice of such deposit to Seller and Buyer. Upon such deposit the Escrow Agent shall be relieved and discharged of all further
obligations and responsibilities hereunder. <FONT STYLE="background-color: white">The provisions of this Section&nbsp;16.5(d) shall
survive the Closing.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Successors and Assigns; No Third-Party Beneficiaries</U>. The stipulations, terms, covenants and agreements contained
in this Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective permitted successors
and assigns (including any successor entity after a public offering of stock, merger, consolidation, purchase or other similar
transaction involving a party hereto) and nothing herein expressed or implied shall give or be construed to give to any Person,
other than the parties hereto and such assigns, any legal or equitable rights hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Assignment</U>. This Agreement may not be assigned by Buyer without the prior written consent of Seller. Notwithstanding
the foregoing, Buyer may designate one or more Affiliates that is majority owned and controlled by Buyer or under common control
with Buyer to which (i) the Assets will be assigned at the Closing and (ii) the Crossroads Parking Parcel will be assigned at a
separate closing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Further Assurances</U>. From time to time, as and when requested by any party hereto, the other party shall execute
and deliver, or cause to be executed and delivered, all such documents and instruments and shall take, or cause to be taken, all
such further or other actions as such other party may reasonably deem necessary or desirable to consummate the transactions contemplated
by this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Notices</U>. All notices, consents, approvals and requests required or permitted hereunder shall be given in writing
and shall be effective for all purposes if (a) hand delivered, (b) sent by certified or registered United States mail, postage
prepaid, return receipt requested, (c) sent by expedited prepaid delivery service, either commercial or United States Postal Service,
with proof of attempted delivery, or (d) sent by electronic mail, addressed as follows (or at such other address and Person as
shall be designated from time to time by any party hereto, as the case may be, in a written notice to the other parties hereto
in the manner provided for in this Section 16.9):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>To Buyer:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">c/o Blackstone
Real Estate Advisors L.P.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">345 Park Avenue</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">New York, New
York 10154</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">Attn: Head, U.S.
Asset Management</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">Email: realestatenotices@blackstone.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">c/o Blackstone
Real Estate Advisors L.P.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">345 Park Avenue</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">New York, New
York 10154</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">Attn: General
Counsel</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">Email: realestatenotices@blackstone.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in">with copies thereof to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Simpson Thacher &amp; Bartlett LLP<BR>
425 Lexington Avenue<BR>
New York, New York 10017<BR>
Attn: &#9;Sasan Mehrara</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0.5in">Benjamin Schaye<BR>
Email: smehrara@stblaw.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-indent: 0.5in">ben.schaye@stblaw.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="background-color: white">To Seller or Parent:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">FRP Holdings, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">200 W. Forsyth Street, 7<SUP>th</SUP> Floor</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Jacksonville, Florida 32202</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Attn: John D. Milton, Jr.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Email: jmilton@patriottrans.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in"><FONT STYLE="background-color: white">with copies thereof
to:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Nelson Mullins Riley &amp; Scarborough LLP</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">50 N. Laura Street, Suite 4100</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Jacksonville, Florida 32202</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Attn: Daniel B. Nunn, Jr.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Email: daniel.nunn@nelsonmullins.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>To the Title Company/Escrow Agent:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Lexington National Land Services</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">39 West 37th Street, Fl. 12A</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">New York, NY 10018</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Attn: Fanny Trataros</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in">Email: FTrataros@lexnls.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1.5in">and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Old Republic National Title Insurance Company</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">20 S. Clark Street Suite 2900</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Chicago, IL 60603</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Attn: Charles J. Vachout Jr.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in">Email: cvachout@oldrepublictitle.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">A notice shall be deemed to have been given: (i) in the case
of hand delivery, when delivered; (ii) in the case of registered or certified mail, when delivered or upon the first attempted
delivery on a Business Day; (iii) in the case of expedited prepaid delivery service, when delivered or upon the first attempted
delivery on a Business Day; and (iv) in the case of email, upon the sender&rsquo;s receipt of confirmation (which may be in the
form of an automated electronic response) of delivery or upon the first attempted delivery on a Business Day. Buyer and Seller
acknowledge that Parent shall be the representative Seller (the &ldquo;<U>Representative Seller</U>&rdquo;) for the purpose of
giving notice under this Agreement, and that any notice given by Representative Seller pursuant to this Section 16.9 shall be deemed
to have been given by each Seller hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Entire Agreement</U>. This Agreement and the Voting Agreement contain all of the terms agreed upon between the
parties hereto with respect to the subject matter of this Agreement and the Voting Agreement and supersede all prior agreements
and understandings, both written and oral, among the parties hereto with respect to the subject matter hereof. This Agreement and
the Voting Agreement fully and completely express the agreement of the parties hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Amendments</U>. This Agreement may not be amended, modified, supplemented or terminated, nor may any of the obligations
of Seller or Buyer hereunder be waived, except by written agreement executed by Seller and Buyer, or with respect to a termination,
except as otherwise specifically provided in this Agreement. Any waiver or consent given under this Section 16.11 shall be effective
only in the specific instance, and for the purpose, for which given.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Waiver</U>. No waiver by either party of any failure or refusal by the other party to comply with its obligations
hereunder shall be deemed a waiver of any other or subsequent failure or refusal to so comply.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Governing Law</U>. This Agreement shall be governed by, interpreted under, and construed and enforced in accordance
with, the laws of the State of Florida.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Intentionally Omitted</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Severability</U>. If any term or provision of this Agreement or the application thereof to any Person or circumstances
shall, to any extent, be invalid or unenforceable, the remainder of this Agreement or the application of such term or provision
to Persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby, and
each term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by Applicable Law.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Section Headings</U>. The headings of the various Sections of this Agreement have been inserted only for purposes
of convenience, are not part of this Agreement and shall not be deemed in any manner to modify, explain, expand or restrict any
of the provisions of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: #010000; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Section&nbsp;16.17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Counterparts</U>. This Agreement may be executed in two or more counterparts and by facsimile signatures, which
taken together still constitute collectively one agreement. In making proof of this Agreement it shall not be necessary to produce
or account for more than one such counterpart with each party&rsquo;s counterpart or facsimile signature.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Construction</U>. The parties acknowledge that the parties and their counsel have reviewed and revised this Agreement
and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of this Agreement or any amendments hereto. Singular words shall connote the plural as well
as the singular, and plural words shall connote the singular as well as the plural, and the masculine shall include the feminine
and the neuter.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Recordation</U>. Neither this Agreement nor any memorandum or notice of this Agreement may be recorded by any
party hereto without the prior written consent of the other party hereto, other than in connection with an action for specific
performance by Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Time is of the Essence</U>. Seller and Buyer agree that time is of the essence with respect to the obligations
of Seller and Buyer under this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Schedules</U>. Seller and Buyer agree that disclosure of any fact or item on any schedule attached to this Agreement
shall, should the existence of such fact or item be relevant to any other schedule, be deemed to be disclosed with respect to that
other schedule so long as the relevance of such disclosure to such other section is reasonably apparent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Waiver of Jury Trial</U>. Seller and Buyer hereby irrevocably waive trial by jury in any action, proceeding or
counterclaim brought by one party against another party on any matter arising out of or in any way connected with this Agreement.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Joint and Several Liability</U>. Notwithstanding anything to the contrary contained in this Agreement, the liabilities
and obligations of Seller shall be joint and several in all respects.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.24.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>State Specific Provisions</U>. Seller and Buyer agree that, notwithstanding anything to the contrary contained
herein, the provisions of this Section 16.24 shall apply with respect to the transactions contemplated herein to the extent an
individual Property is located in the state as set forth below and any provision of this Agreement shall be deemed modified by
the provisions contained in this Section 16.24 solely with respect to such Property to the extent required to effect each of the
applicable state requirements herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Delaware.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding Section 2.3, the parties will cooperate and effectuate Closing and funding of the transaction to
the extent required by Applicable Law.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>In addition to the items set forth in Section 6.2(b) of the Agreement, Seller shall deliver all forms required under
30 Del. C. &sect; 1126(b), 30 Del. C. &sect; 1606(b), or 30 Del. C. &sect; 1909(b), as applicable, including the form commonly
known as Delaware Form</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">5403 (Real Estate Tax Return Declaration of Estimated
Income Tax (&quot;<U>Withholding Form</U>&quot;)); and, if withholding tax is due, Seller shall deliver to the Title Company at
Closing the estimated tax reported due on the Withholding Form in the correct form for payment as provided in the Withholding Form.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="text-transform: uppercase; color: #010000">Section&nbsp;16.25.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>1031 Exchange</U>. Subject to this Section 16.25, Seller may require Buyer, pursuant to Section 1031 of the Internal
Revenue Code of 1986, as amended, pay the Purchase Price to a trust or intermediary party designated by Seller, so Seller may participate
in a tax-deferred exchange of like-kind property. Such election will be made, if at all, by notice to Buyer at least ten (10) days
before the Closing Date. Seller and Buyer agree to execute any reasonably necessary agreements and/or other documents to effectuate
Seller&rsquo;s tax-deferred exchange, provided (a) the consummation or accomplishment of any such like-kind exchange shall not
be a condition to Seller&rsquo;s obligations under this Agreement; (b) such exchange shall not result in any delay of the Closing;
(c) Buyer&rsquo;s obligations under the Agreement will not be increased; (d) such documents will not modify Buyer&rsquo;s or Seller&rsquo;s
representations, warranties or obligations under this Agreement; (e) the Purchase Price paid by Buyer will not be different from
what Buyer would have otherwise paid hereunder and Buyer shall not be required to take title to any asset other than the Assets
in connection with such like-kind exchange; (f) Buyer will incur no additional cost, expense, Tax or liability as a result of its
cooperation in the exchange; and (g) Seller will indemnify and hold harmless Buyer for additional expenses, including, but not
limited to, Taxes, closing costs, and any cost or expense (including reasonable counsel fees) that Buyer my suffer, sustain or
become subject to as a result of the Purchase Price being paid to a trust or intermediary party, rather than to Seller, and the
trust&rsquo;s or intermediary&rsquo;s subsequent use of the Purchase Price. Notwithstanding anything to the contrary, this Section
16.25 shall survive the Closing.</P>

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blank</I>]</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">IN WITNESS WHEREOF, this Agreement has
been duly executed by the parties hereto as of the day and year first above written.</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 12.3pt 0 0 2.5in"><FONT STYLE="letter-spacing: -0.65pt"><B><U>PARENT</U>:</B></FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 13.95pt 0 0 2.5in"><B>FRP HOLDINGS, INC., </B><BR>
a Florida corporation</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 27.65pt 0 0 2.45in"><FONT STYLE="letter-spacing: 0.3pt">By:</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.75pt 0 0; text-align: center"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.3pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 28.1pt 0 0 2.5in"><FONT STYLE="letter-spacing: -0.15pt"><B><U>SELLERS</U>:</B></FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 13.95pt 0 0 2.5in"><FONT STYLE="letter-spacing: -0.1pt"><B>OZ
LLC,</B></FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 2.5in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.9pt Times New Roman, Times, Serif; margin: 13.7pt 0.35in 0 3.4in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 27.65pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.75pt">By:</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.75pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in"><FONT STYLE="letter-spacing: 0.45pt">Title: Chief
Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 28.1pt 0 0 2.5in"><FONT STYLE="letter-spacing: -0.05pt"><B>1502
QUARRY LLC,</B></FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 2.5in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.95pt Times New Roman, Times, Serif; margin: 13.65pt 0.35in 0 3.4in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 27.6pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.75pt">By:</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.75pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.85pt 0 0; text-align: center"><I>[signatures continue onto
following page]</I></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.85pt 0 0pt; text-align: center"><I>[Signature Page to
Agreement]</I></P>


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<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in"><B>FRP LAKESIDE LLC #1,</B></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.45pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 27.85pt 0 0.25pt 0.65in"><FONT STYLE="letter-spacing: 0.85pt">By:</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 27.85pt 0 0 0.65in"><B>FRP LAKESIDE LLC #2,</B></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.4pt Times New Roman, Times, Serif; margin: 27.85pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.85pt">By:</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.15pt 0 0 0.65in"><B>FRP LAKESIDE LLC #3,</B></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.95pt Times New Roman, Times, Serif; margin: 13.65pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 27.6pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.85pt">By:</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.75pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin-top: 27.85pt; text-align: center; margin-bottom: 20pt"><I>[signatures continue onto following page]</I></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.15pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><I>[Signature
Page to Agreement]</I></FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in"><B>FRP LAKESIDE LLC #4,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.45pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.9pt 0 0.3pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.25pt 0 0 0.65in"><B>FRP LAKESIDE LLC #5,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.9pt Times New Roman, Times, Serif; margin: 13.7pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.7pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.8pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.25pt 0 0 0.65in"><B>HOLLANDER 95 LLC,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 13.95pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.95pt 0 0.05pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin-top: 27.7pt; text-align: center; margin-bottom: 20pt"><I>[signatures continue onto following page]</I></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.15pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><I>[Signature
Page to Agreement]</I></FONT></P>


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<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.45pt 0.7in 0 0.65in"><B>FRP TRANSIT BUSINESS PARK LLC, </B>a
Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.9pt 0 0.3pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.25pt 0 0 0.65in"><B>FRP BIRD RIVER LLC,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.9pt Times New Roman, Times, Serif; margin: 13.7pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.7pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.8pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.25pt 0 0 0.65in"><B>FRP MANASSAS LLC,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 13.95pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.95pt 0 0.05pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin-top: 27.7pt; text-align: center; margin-bottom: 20pt"><I>[signatures continue onto following page]</I></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.15pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><I>[Signature
Page to Agreement]</I></FONT></P>


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<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in"><B>FRP HILLSIDE LLC,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.45pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.9pt 0 0.3pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.25pt 0 0 0.65in"><B>FRP HILLSIDE LLC #2,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.25pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.9pt Times New Roman, Times, Serif; margin: 13.7pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.7pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.8pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.25pt 0 0 0.65in"><B>FRP HILLSIDE LLC #3,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 13.95pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.95pt 0 0.05pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin-top: 27.7pt; text-align: center; margin-bottom: 20pt"><I>[signatures continue onto following page]</I></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.15pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><I>[Signature
Page to Agreement]</I></FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 0.45pt 0 0 0.65in"><B>FRP OREGON AVENUE LLC, </B><BR>
a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.9pt 0 0.3pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.45pt Times New Roman, Times, Serif; margin: 26.4pt 0 0 0.65in"><B>FRP PRESTON COURT LLC, </B><BR>
a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.9pt Times New Roman, Times, Serif; margin: 13.7pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.7pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.8pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 26.15pt 0 0 0.65in"><B>FRP 10820 GILROY LLC, </B><BR>
a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 13.95pt 0 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.95pt 0 0.05pt 0.65in"><FONT STYLE="letter-spacing: 0.9pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin-top: 27.7pt; text-align: center; margin-bottom: 20pt"><I>[signatures continue onto following page]</I></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.15pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><I>[Signature
Page to Agreement]</I></FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in"><B>FRP KELSO LLC,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.45pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0.2in 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.9pt 0 0.3pt 0.65in"><FONT STYLE="letter-spacing: 0.85pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.45pt Times New Roman, Times, Serif; margin: 26.4pt 0.85in 0 0.65in"><B>FRP PORT CAPITAL HOLDINGS LLC, </B>a
Maryland limited liability company</P>

<P STYLE="font: 12pt/13.9pt Times New Roman, Times, Serif; margin: 13.7pt 0.2in 0 1.55in; text-indent: -0.3in">By: <B>FRP DEVELOPMENT
CORP., </B>a Maryland corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.7pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.85pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.8pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 26.25pt 0 0 0.65in"><B>FRP AZALEA LLC,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.65in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 13.95pt 0.05in 0 1.55in; text-indent: -0.3in">By: <B>FLORIDA
ROCK PROPERTIES, INC., </B>a Florida corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.95pt 0 0.05pt 0.65in"><FONT STYLE="letter-spacing: 0.85pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.3pt">Name:
John D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 0.65in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin-top: 27.7pt; text-align: center; margin-bottom: 20pt"><I>[signatures continue onto following page]</I></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.15pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><I>[Signature
Page to Agreement]</I></FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 0.5pt 0 0 0.7in"><B>FRP DORSEY LLC,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.45pt 0 0 0.7in">a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.7pt Times New Roman, Times, Serif; margin: 13.9pt 0 0 1.6in; text-indent: -0.3in">By: <B>FLORIDA ROCK PROPERTIES,
INC., </B>a Florida corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.9pt 0 0.3pt 189pt"><FONT STYLE="letter-spacing: 0.55pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0 189pt"><FONT STYLE="letter-spacing: 0.3pt">Name: John
D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.3pt 0 0 189pt"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.45pt Times New Roman, Times, Serif; margin: 26.4pt 0 0 0.7in"><B>FRP INTERCHANGE LLC, </B><BR>
a Maryland limited liability company</P>

<P STYLE="font: 12pt/13.9pt Times New Roman, Times, Serif; margin: 13.7pt 0 0 1.6in; text-indent: -0.3in">By: <B>FLORIDA ROCK PROPERTIES,
INC., </B>a Florida corporation, its sole member</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.7pt 0 0 189pt"><FONT STYLE="letter-spacing: 0.55pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.8pt 0 0 189pt"><FONT STYLE="letter-spacing: 0.3pt">Name: John
D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.05pt 0 0 189pt"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.95pt 0 325.95pt; text-align: center"><I>[signatures continue
onto following page]</I></P>


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</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">IN WITNESS WHEREOF, this Agreement has
been duly executed by the parties hereto as of the day and year first above written.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B><U>BUYER</U>:</B></TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>BRE FOXTROT PARENT LLC,</B></TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">a Delaware limited liability company</TD></TR>
<TR>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 86%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">JOINDER BY ESCROW AGENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">Old Republic National Title Insurance Company,
referred to in this Agreement as the &ldquo;Escrow Agent,&rdquo; hereby acknowledges that it received this Agreement executed by
Seller and Buyer as of March ___, 2018, and accepts the obligations of the Escrow Agent as set forth herein.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B><U>ESCROW AGENT</U>:</B></TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Old Republic National Title Insurance Company </TD></TR>
<TR>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 86%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>


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</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">ACKNOWLEDGEMENT BY ESCROW AGENT OF RECEIPT
OF EARNEST MONEY</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Old Republic National
Title Insurance Company, referred to in this Agreement as the &ldquo;Escrow Agent,&rdquo; hereby acknowledges that it received
the Earnest Money on March ___, 2018. The Escrow Agent hereby agrees to hold and distribute the Earnest Money in accordance with
the terms and provisions of the Agreement.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B><U>ESCROW AGENT</U>:</B></TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Old Republic National Title Insurance Company </TD></TR>
<TR>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 86%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>


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of Earnest Money]</I></P>


</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">ACKNOWLEDGEMENT BY ESCROW AGENT OF RECEIPT
OF ESCROWED FUNDS<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[1]</SUP></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Old Republic National
Title Insurance Company, referred to in this Agreement as the &ldquo;Escrow Agent,&rdquo; hereby acknowledges that it received
the Escrowed Funds on _________________ ___, 2018. The Escrow Agent hereby agrees to hold and distribute the Escrowed Funds in
accordance with the terms and provisions of the Agreement.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B><U>ESCROW AGENT</U>:</B></TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Old Republic National Title Insurance Company </TD></TR>
<TR>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 86%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>[1]</SUP></FONT>
Note: To be executed by Escrow Agent at Closing upon receipt of Escrowed Funds.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"></P>


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of Escrowed Funds]</I></P>


</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>JOINDER</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="color: #010000">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>In consideration of Buyer&rsquo;s execution of that certain Agreement of Purchase and Sale (the &ldquo;<U>Agreement</U>&rdquo;)
to which this &ldquo;<U>Joinder</U>&rdquo; is attached (and of which it forms a part), the undersigned (&ldquo;<U>Seller Parent</U>&rdquo;),
hereby agrees, if the Closing occurs, to fulfill the post-Closing payment obligations of Seller under Section&nbsp;11.1 of the
Agreement (the &ldquo;<U>Obligations</U>&rdquo;) in accordance with the terms of the Agreement and to the extent such Obligations
are not timely fulfilled by Seller, in each case subject to the limitations set forth in the Agreement. Capitalized terms used
in this Joinder and not otherwise defined herein shall have the same meanings as set forth in the Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="color: #010000">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Seller Parent acknowledges that Seller Parent is an affiliate of Seller and that Seller Parent will derive substantial
benefits from the execution of the Agreement and the transactions contemplated thereby, and that Seller Parent&rsquo;s execution
of this Joinder is a material inducement and condition to Buyer&rsquo;s execution of the Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="color: #010000">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Notwithstanding anything to the contrary contained in this Joinder, the obligations and liabilities of Seller Parent
under this Joinder are subject to all limitations applicable to Seller&rsquo;s obligations and liabilities under the Agreement,
including, without limitation, the terms set forth in Section&nbsp;11.3 and Section&nbsp;11.4 of the Agreement, and all such terms
are incorporated herein by this reference as if set forth in full herein. All obligations and liabilities of Seller Parent under
this Joinder (including any cause of action by reason of a breach thereof) shall survive the Closing but not beyond the expiration
of the Survival Period unless a longer or shorter survival period is expressly provided for in this Agreement; provided, however,
that liability for Seller&rsquo;s obligations under Section 9.1, Section 15.1 and Section 16.2 shall survive indefinitely; provided,
further, that no claim for indemnification and no action or proceeding with respect to such claims that are subject to the Survival
Period or a longer or shorter survival period as expressly provided for in the Agreement shall be valid or enforceable, at law
or in equity, unless a Claim Notice is delivered prior to the expiration of the Survival Period or the applicable longer or shorter
survival period as expressly provided for in this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="color: #010000">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The following Sections of the Agreement shall apply to this Joinder as though herein set forth in full, <I>mutatis
mutandis</I>: Section&nbsp;11.3, Section&nbsp;11.4, Section 16.6 through Section 16.19 (with any notice to Seller Parent to be
sent to the addresses set forth for Seller in Section 16.9 of the Agreement) and Section 16.21 through Section 16.24. Additionally,
Buyer&rsquo;s confidentiality obligations contained in Section 16.3(a) of the Agreement shall apply to any and all information
relating to Seller Parent that may be provided to Buyer.<BR STYLE="clear: both">
</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned has
executed this Joinder as of the date of the Agreement.</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 12.35pt 0 0 2.5in"><FONT STYLE="letter-spacing: -0.05pt"><B><U>SELLER
PARENT</U>:</B></FONT></P>

<P STYLE="font: 12pt/13.2pt Times New Roman, Times, Serif; margin: 13.95pt 0 0 2.5in"><B>FRP HOLDINGS, INC.,</B></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.45pt 0 0 2.5in">a Florida corporation</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 27.7pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.75pt">By:</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.8pt 0 0 2.5in"><FONT STYLE="letter-spacing: 0.3pt">Name: John
D. Baker II</FONT></P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0pt 2.5in"><FONT STYLE="letter-spacing: 0.45pt">Title:
Chief Executive Officer</FONT></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>[Signature Page to Seller Joinder]</I></P>


</DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0pt 2.5in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Schedule A-1</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Properties and Sellers</B></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #BFBFBF">
    <TD STYLE="width: 57%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Property</B></FONT></TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Seller</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>State of </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Organization</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1502 Quarry Drive, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1502 Quarry LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1504 Quarry Drive, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1506 Quarry Drive, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2201 Lakeside Boulevard, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2202 Lakeside Boulevard, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2203 Lakeside Boulevard, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2204 Lakeside Boulevard, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2206 Lakeside Boulevard, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2208 Lakeside Boulevard, Edgewood, Maryland 21040</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Lakeside LLC #1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7001 Dorsey Road, Hanover, Maryland 21076</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Hillside LLC #2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7010 Dorsey Road, Hanover, Maryland 21076</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Hillside LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7020 Dorsey Road, Hanover, Maryland 21076</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Hillside LLC #3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
<TR STYLE="vertical-align: top">
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    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1187 Azalea Garden Road, Norfolk, Virginia 23502</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FRP Azalea LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
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<DESCRIPTION>VOTING AND SUPPORT AGREEMENT
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">VOTING AND SUPPORT AGREEMENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This <B>VOTING AND SUPPORT AGREEMENT</B>
(this &ldquo;<U>Agreement</U>&rdquo;), dated as of March 22, 2018, is entered into by and among BRE Foxtrot Parent LLC, a Delaware
limited liability company (&ldquo;<U>Buyer</U>&rdquo;), and those parties listed on <U>Schedule A</U> hereto (each a &ldquo;<U>Shareholder</U>&rdquo;
and collectively the &ldquo;<U>Shareholders</U>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>WHEREAS</B>, as of the date hereof,
each Shareholder is the record and beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of the number of shares of
common stock, par value $0.10 per share (&ldquo;<U>Common Stock</U>&rdquo;), of FRP Holdings, Inc., a Florida corporation (the
&ldquo;<U>Parent</U>&rdquo;) set forth opposite such Shareholder&rsquo;s name on <U>Schedule A</U> (all such shares set forth on
<U>Schedule&nbsp;A</U>, together with any additional shares of Common Stock of the Parent that are hereafter issued to, or otherwise
acquired or owned, beneficially or of record, by, the Shareholders prior to the termination of this Agreement being referred to
herein as the &ldquo;<U>Subject Shares</U>&rdquo;);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>WHEREAS</B>, concurrently with the
execution hereof,&nbsp;Buyer, Parent and certain seller entities (collectively, the &ldquo;<U>Seller</U>&rdquo;) are entering into
an Agreement of Purchase and Sale, dated as of the date hereof and as it may be amended, supplemented or waived from time to time
in accordance with its terms (the &ldquo;<U>Purchase Agreement</U>&rdquo;), which provides, among other things, for Buyer to purchase
from Seller, Seller&rsquo;s right, title and interest in the Assets, upon the terms and subject to the conditions set forth in
the Purchase Agreement (capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to
such terms in the Purchase Agreement); and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>WHEREAS</B>, as a condition to its
willingness to enter into the Purchase Agreement, Buyer has required that each Shareholder, and as an inducement and in consideration
therefor, each Shareholder (solely in such Shareholder&rsquo;s capacity as a holder of the Subject Shares) has agreed to, enter
into this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>NOW, THEREFORE</B>, in consideration
of the foregoing and the respective representations, warranties, covenants and agreements set forth below and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, do hereby agree as follows:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>ARTICLE
I</B></FONT><BR>
AGREEMENT TO VOTE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>1.1<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Agreement to Vote</U></B>. Subject to the terms of this Agreement, each Shareholder hereby irrevocably
and unconditionally agrees that, during the time this Agreement is in effect, at every annual or special meeting of the shareholders
of the Parent held with respect to the matters specified in <U>Section 1.1(b)</U>, however called, including any adjournment or
postponement thereof, and in connection with any action proposed to be taken by written consent of the shareholders of the Parent,
the Shareholders shall, in each case to the fullest extent that the Subject Shares are entitled to vote thereon:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>cause the Subject Shares to be counted as present thereat for purposes of determining a quorum; and</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>be present (in person or by proxy) and vote (or cause to be voted), or deliver (or cause to be delivered) a written
consent with respect to, the Subject Shares:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>in favor of (A)&nbsp;adoption of the Purchase Agreement and approval of the transactions contemplated thereby and
(B)&nbsp;each of the actions contemplated by the Purchase Agreement in respect of which approval of the Parent&rsquo;s shareholders
is requested; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>against (A) any change in the Parent Board, (B) any Acquisition Proposal or any other any proposal made in opposition
to the Purchase Agreement or the transactions contemplated by the Purchase Agreement and (C)&nbsp;any other proposal or action
that (i) could reasonably be expected to constitute a breach of any covenant, representation or warranty or any other obligation
or agreement of the Parent under the Purchase Agreement or of the Shareholders under this Agreement, (ii) is intended or could
reasonably be expected to prevent, frustrate, impede, interfere with, materially delay or adversely affect the transactions contemplated
by the Purchase Agreement or (iii) could reasonably be expected to dilute in any material respect the benefits to Buyer of the
transactions contemplated by the Purchase Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Each Shareholder agrees that the obligations specified in this <U>Section&nbsp;1.1 </U>shall not be affected by any
Adverse Recommendation Change except to the extent the Purchase Agreement is terminated as a result thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>During the time this Agreement is in effect, each Shareholder shall retain at all times the right to vote the Subject
Shares in the Shareholder&rsquo;s sole discretion, and without any other limitation, on any matters other than those set forth
in this&nbsp;<U>Section 1.1</U>&nbsp;that are at any time or from time to time presented for consideration to the Parent&rsquo;s
shareholders generally.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>ARTICLE
II</B></FONT><BR>
REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDERS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Each Shareholder represents and warrants
to Buyer that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>2.1<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Organization; Authority; Execution and Delivery; Enforceability</U></B>. If such Shareholder is not a natural
person, (i) such Shareholder is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization,
(ii) the execution and delivery of this Agreement by such Shareholder, the consummation by such Shareholder of the transactions
contemplated by this Agreement and the compliance by such Shareholder with the terms of this Agreement have been duly authorized
by all necessary action on the part of such Shareholder and its governing body, members, stockholders and trustees, as applicable,
and (iii) no other proceedings on the part of such Shareholder (or such Shareholder&rsquo;s governing body, members, stockholders
or trustees, as applicable) are necessary to authorize this Agreement, to consummate the transactions contemplated by this Agreement
or to comply with the terms of this Agreement. Such Shareholder has all requisite corporate, company, partnership or other power
and authority to execute and deliver this Agreement (and each Person executing this Agreement on behalf of such Shareholder that
is not a natural person has full power, authority and capacity to execute and deliver this Agreement on behalf of such Shareholder
and to thereby bind such</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Shareholder), to consummate the transactions contemplated
by this Agreement and to comply with the terms of this Agreement. This Agreement has been duly executed and delivered by such Shareholder
and, assuming due authorization, execution and delivery by Buyer, constitutes a valid and binding obligation of such Shareholder,
enforceable against such Shareholder in accordance with its terms. If such Shareholder is married and the Subject Shares of such
Shareholder constitute community property or if spousal or other approval is required for this Agreement to be legal, valid and
binding, this Agreement has been duly authorized, executed and delivered by, and constitutes a valid and binding agreement of,
such Shareholder&rsquo;s spouse, enforceable against such spouse in accordance with its terms.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>2.2<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Non-Contravention; Consents</U></B>. The execution and delivery of this Agreement, the consummation of
the transactions contemplated by this Agreement and the compliance by such Shareholder with the terms of this Agreement do not
and will not conflict with, or result in any violation or breach of, or default (with or without notice or lapse of time, or both)
under, or give rise to a right of, or result in termination, amendment, cancelation or acceleration of any obligation or to loss
of a material benefit under, or result in the creation of any pledges, liens, charges, mortgages, encumbrances and security interests
(collectively, &ldquo;<U>Liens</U>&rdquo;) in or upon any of the properties or assets of such Shareholder under, or give rise to
any increased, additional, accelerated or guaranteed rights or entitlements under, (i) if such Shareholder is not a natural person,
any provision of any certificate of incorporation, bylaws, or trust or other organizational document of such Shareholder, (ii)
any contract to or by which such Shareholder is a party or bound or to or by which any of the properties or assets of such Shareholder
(including such Shareholder&rsquo;s Subject Shares) is bound or subject or (iii) subject to the governmental filings and other
matters referred to in the following sentence, any Law, in each case, applicable to such Shareholder or to such Shareholder&rsquo;s
properties or assets (including such Shareholder&rsquo;s Subject Shares) other than, in the case of clauses (ii) and (iii) of this
paragraph, conflicts, violations, breaches, defaults, rights, losses, Liens or entitlements that individually or in the aggregate
are not reasonably likely to (x) impair in any material respect the ability of such Shareholder to perform its obligations under
this Agreement or (y) prevent or materially impede or delay the consummation of any of the transactions contemplated by this Agreement.
No consent, approval, order or authorization of, or registration, declaration or filing with, any Governmental Authority or other
Person (including with respect to natural persons, any spouse, and with respect to trusts, any co-trustee or beneficiary) is required
by or with respect to such Shareholder in connection with the execution and delivery of this Agreement by such Shareholder, the
consummation by such Shareholder of the transactions contemplated by this Agreement or the compliance by such Shareholder with
the terms of this Agreement, except for filings with the SEC of such reports under the Exchange Act as may be required in connection
with this Agreement and the transactions contemplated hereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>2.3<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Ownership of Subject Shares; Total Shares</U></B>. (i)&nbsp;Such Shareholder is the record or beneficial
owner (as defined in Rule&nbsp;13d-3 under the Exchange Act) of its Subject Shares set forth on <U>Schedule A</U> and has good,
valid and marketable title to such Subject Shares free and clear of any Liens in respect of such Subject Shares, except as provided
hereunder or pursuant to any applicable restrictions on transfer under the Securities Act (collectively, &ldquo;<U>Permitted Liens</U>&rdquo;)
and (ii)&nbsp;the Subject Shares owned by such Shareholder are all of the equity securities of the Parent owned, either of record
or beneficially, by such Shareholder as of the date hereof.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>2.4<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Voting Power</U></B>. Other than as provided in this Agreement or as would not reasonably be expected to
prevent or materially delay the consummation by the Shareholder of the transactions contemplated by this Agreement or otherwise
adversely impact the Shareholder&rsquo;s ability to perform its obligations hereunder in any material respect, the Shareholder
has full voting power with respect to its Subject Shares, full power of disposition, full power to issue instructions with respect
to the matters set forth herein, and full power to agree to all of the matters set forth in this Agreement. The Shareholder has
not appointed or granted any proxy inconsistent with this Agreement, which appointment or grant is still effective, with respect
to its Subject Shares. Except as would not reasonably be expected to prevent or materially delay the consummation by the Shareholder
of the transactions contemplated by this Agreement or otherwise adversely impact the Shareholder&rsquo;s ability to perform its
obligations hereunder in any material respect, none of its Subject Shares are directly bound by any stockholders&rsquo; agreement,
proxy, voting trust or other agreement or arrangement with respect to the voting of such Subject Shares, except as provided hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>2.5<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Reliance</U></B>. The Shareholder understands and acknowledges that Buyer is entering into the Purchase
Agreement in reliance upon the Shareholders&rsquo; execution, delivery and performance of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>2.6<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Absence of Litigation</U></B>. As of the date hereof, there is no Proceeding pending against, or, to the
knowledge of the Shareholder, threatened in writing against such Shareholder or any of such Shareholder&rsquo;s properties or assets
(including the Subject Shares), nor, to the knowledge of such Shareholder, is there any investigation of a Governmental Authority
pending or threatened in writing with respect to the Shareholder, and the Shareholder is not subject to any outstanding order,
writ, injunction or decree, that, in each case, would, individually or in the aggregate, reasonably be expected to prevent or materially
delay the consummation by the Shareholder of the transactions contemplated by this Agreement or otherwise adversely impact the
Shareholder&rsquo;s ability to perform its obligations hereunder in any material respect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>2.7<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Brokers</U></B>. No broker, finder, investment banker, financial advisor or other Person is entitled to
any broker&rsquo;s, finder&rsquo;s, financial advisor&rsquo;s or other similar fee or commission for which the Parent, Seller or
Buyer will be liable in connection with the transactions contemplated hereby based upon arrangements made by or, to the knowledge
of the Shareholder, on behalf of the Shareholder.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>ARTICLE
III</B></FONT><BR>
REPRESENTATIONS AND WARRANTIES OF BUYER</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Buyer represents and warrants to the
Shareholders that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>3.1<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Organization; Power and Authority</U></B>. Buyer is duly organized, validly existing and in good standing
under the laws of the State of Delaware and consummation by Buyer of the transactions contemplated hereby are within Buyer&rsquo;s
organizational powers and have been duly authorized by all necessary organizational actions on the part of Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>3.2<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Authorization; Binding Agreement</U></B>. Buyer has full power and authority to execute, deliver and perform
this Agreement and to consummate the transactions contemplated hereby. Buyer has duly and validly executed and delivered this Agreement
and, assuming due authorization, execution and delivery by the Shareholders, this Agreement constitutes its legal,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">valid and binding obligation of Buyer, enforceable against
Buyer in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors&rsquo; rights and by general principles of equity (whether applied in a proceeding at law or
in equity).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>3.3<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Non-Contravention</U></B>. The execution and delivery of this Agreement by Buyer does not, and the performance
by Buyer of its obligations hereunder and the consummation by Buyer of the transactions contemplated hereby will not, (i)&nbsp;except
as may be required by applicable U.S. Federal securities laws, require any consent, approval, order, authorization or other action
by, or filing with or notice to, any Person (including any Governmental Authority) under, constitute a default (with or without
the giving of notice or the lapse of time or both) under, or give rise to any right of termination, cancellation or acceleration
under any agreement, trust, commitment, order, judgment, writ, stipulation, settlement, award, decree or other instrument binding
on Buyer or (ii)&nbsp;violate any provision of Buyer&rsquo;s organizational documents, in case of each of clauses (i)&nbsp;and
(ii), except as would not reasonably be expected to prevent or materially delay the consummation by Buyer of the transactions contemplated
by this Agreement or otherwise adversely impact Buyer&rsquo;s ability to perform its obligations hereunder in any material respect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>3.4<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Absence of Litigation</U></B>. As of the date hereof, there is no Proceeding pending against, or, to the
knowledge of Buyer, threatened in writing against Buyer, any of its subsidiaries or any of Buyer&rsquo;s or its subsidiaries&rsquo;
properties or assets that would reasonably be expected to prevent or materially delay the consummation by Buyer of the transactions
contemplated by this Agreement or otherwise adversely impact Buyer&rsquo;s ability to perform its obligations hereunder in any
material respect.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>ARTICLE
IV</B></FONT><BR>
ADDITIONAL COVENANTS OF THE SHAREHOLDERS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Each Shareholder hereby covenants and
agrees that until the termination of this Agreement:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>4.1<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>No Transfer; No Inconsistent Arrangements</U></B>. Except as expressly provided hereunder or pursuant to
the Purchase Agreement, from and after the date hereof and until this Agreement is terminated in accordance with <U>Section&nbsp;5.2</U>,
each Shareholder shall not, directly or indirectly, (i)&nbsp;grant or create any Lien, other than Permitted Liens, on any or all
of the Subject Shares, (ii)&nbsp;transfer, sell, assign, tender, gift, hedge, pledge or otherwise dispose (whether by sale, liquidation,
dissolution, dividend or distribution) of, or enter into any derivative arrangement with respect to (collectively, &ldquo;<U>Transfer</U>&rdquo;),
any of the Subject Shares, or any right, title or interest therein (including any right or power to vote to which the Shareholder
may be entitled) (or consent to any of the foregoing), (iii)&nbsp;enter into (or caused to be entered into) any Contract with respect
to any Transfer of the Subject Shares, (iv)&nbsp;grant or permit the grant of any proxy, power-of-attorney or other authorization
or consent in or with respect to any of the Subject Shares, (v)&nbsp;deposit or permit the deposit of any of the Subject Shares
into a voting trust or enter into a voting agreement or similar arrangement, commitment or understanding with respect to any of
the Subject Shares or (vi)&nbsp;take or permit any other action that would reasonably be expected to prevent or materially restrict,
disable or delay the consummation by the Shareholder of the transactions contemplated by this Agreement or otherwise adversely
impact the Shareholder&rsquo;s ability to perform its obligations hereunder in any material respect.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Notwithstanding the foregoing, (x)&nbsp;direct or indirect
Transfers of equity or other interests in the Shareholder by its equityholders is not prohibited by this <U>Section&nbsp;4.1</U>
and (y)&nbsp;the Shareholder may make Transfers of Subject Shares as Buyer may, in its sole discretion, agree in writing. Any Transfer
in violation of this <U>Section&nbsp;4.1</U> shall be null and void <I>ab initio</I>. If any involuntary Transfer of any of the
Subject Shares shall occur (including, but not limited to, a sale by Shareholder&rsquo;s trustee in any bankruptcy, or a sale to
a purchaser at any creditor&rsquo;s or court sale), the transferee (which term, as used herein, shall include any and all transferees
and subsequent transferees of the initial transferee) shall take and hold such Subject Shares subject to all of the restrictions,
liabilities and rights under this Agreement, which shall continue in full force and effect until is terminated in accordance with
<U>Section&nbsp;5.2</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>4.2<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>No Exercise of Appraisal Rights; Actions</U></B>. To the extent a Shareholder is found to have a right
to demand appraisal of any of its Subject Shares or a right to dissent from the transactions contemplated by the Purchase Agreement
(collectively, &ldquo;<U>Appraisal Rights</U>&rdquo;), such Shareholder (i)&nbsp;waives and agrees not to exercise any such Appraisal
Rights (including, without limitation, under Section&nbsp;607.1302 of the Florida Business Corporation Act); (ii) agrees not to
commence, participate in or voluntarily aid in any way any claim or proceeding to seek (or file any petition related to) Appraisal
Rights in connection with the transactions contemplated by the Purchase Agreement; and (iii)&nbsp;agrees not to commence or join
in, and agrees to take all actions necessary to opt out of, any class in any class action with respect to any claim, derivative
or otherwise, against Buyer or any of its successors (x)&nbsp;challenging the validity of, or seeking to enjoin the operation of,
any provision of this Agreement or (y)&nbsp;alleging breach of any fiduciary duty of any Person in connection with the negotiation
and entry into the Purchase Agreement or the transactions contemplated thereby. Notwithstanding the foregoing, nothing in this
<U>Section&nbsp;4.2</U> shall constitute, or be deemed to constitute, a waiver or release by the Shareholder of any claim or cause
of action against Buyer to the extent arising out of a breach of this Agreement by Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>4.3<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Documentation and Information</U></B>. Except as required by applicable law, each Shareholder shall not
make any public announcement regarding this Agreement, the Purchase Agreement or the transactions contemplated hereby or thereby
without the prior written consent of Buyer (which consent may be withheld in Buyer&rsquo;s sole discretion). Each Shareholder consents
to and hereby authorizes Buyer and Parent to publish and disclose in all documents and schedules filed with the SEC, and any press
release or other disclosure document that Buyer or Parent reasonably determines to be necessary in connection with the Purchase
Agreement and any transactions contemplated by the Purchase Agreement, the Shareholder&rsquo;s identity and ownership of the Subject
Shares, the existence of this Agreement and the nature of the Shareholder&rsquo;s commitments and obligations under this Agreement,
and the Shareholder acknowledges that Buyer and Parent may, in their sole discretion, file this Agreement or a form hereof with
the SEC or any other Governmental Authority. Each Shareholder agrees to promptly give Buyer and Parent any information that is
in its possession that Buyer and Parent may reasonably request for the preparation of any such disclosure documents, and each Shareholder
agrees to promptly notify Buyer and Parent of any required corrections with respect to any written information supplied by it specifically
for use in any such disclosure document, if and to the extent that the Shareholder shall become aware that any such information
shall have become false or misleading in any material respect.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>4.4<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>No Solicitation</U></B>. Subject to <U>Section&nbsp;5.18</U>, each Shareholder shall not, and shall cause
its directors and officers in their capacities as such not to, and shall direct its other Representatives not to directly or indirectly,
(i) solicit, initiate, knowingly encourage or knowingly facilitate any inquiry, proposal or offer that constitutes, or could reasonably
be expected to lead to, an Acquisition Proposal, (ii)&nbsp;enter into, continue or otherwise participate or engage in any negotiations
or discussions regarding, or furnish to any person other than Buyer or its Representatives any non-public information or data in
furtherance of, any Acquisition Proposal or Inquiry, (iii)&nbsp;approve, recommend, declare advisable or enter into an Alternative
Acquisition Agreement, (iv)&nbsp;agree to or propose publicly to do any of the foregoing. Each Shareholder shall, and shall cause
each of its subsidiaries to, and shall direct the Representatives of such Shareholder and its subsidiaries to (A) immediately cease
and cause to be terminated all existing discussions and negotiations with any Person and its Representatives (other than Buyer
or any of its Representatives) conducted heretofore with respect to any Acquisition Proposal and (B) not terminate, amend, release
or modify any provision of any standstill agreement (including any standstill provisions contained in any confidentiality or other
agreement) to which it or any of its Affiliates or Representatives is a party. Nothing in this <U>Section&nbsp;4.4</U> shall prohibit
each Shareholder or its Representatives from informing any Person of the existence of the provisions contained in this <U>Section&nbsp;4.4</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>4.5<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Adjustments</U></B>. In the event of any stock split (including a reverse stock split), stock dividend,
merger, reorganization, recapitalization, reclassification, combination, exchange of shares or similar transaction with respect
to the capital stock of the Parent that affects the Subject Shares, the terms of this Agreement shall apply to the resulting securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>4.6<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Further Assurances</U></B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Each of the parties hereto shall execute and deliver any additional certificate, instruments and other documents,
and take any additional actions, as may be reasonably necessary or appropriate to carry out and effectuate the purpose and intent
of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>Each Shareholder agrees, while this Agreement is in effect, to notify Buyer promptly in writing of the number and
description of any Subject Shares acquired by the Shareholder after the date hereof which are not set forth on <U>Schedule A</U>
hereto.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>ARTICLE
V</B></FONT><BR>
MISCELLANEOUS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.1<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Notices</U></B>. All notices, consents, approvals and requests required or permitted hereunder shall be
given in writing and shall be effective for all purposes if (a) hand delivered, (b) sent by certified or registered United States
mail, postage prepaid, return receipt requested, (c) sent by expedited prepaid delivery service, either commercial or United States
Postal Service, with proof of attempted delivery, or (d) sent by electronic mail, addressed as follows (or at such other address
and Person as shall be designated from time to time by any party hereto, as the case may be, in a written notice to the other parties
hereto in the manner provided for in this <U>Section 5.1</U>):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>if to Buyer, to</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">c/o Blackstone
Real Estate Advisors L.P.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">345 Park Avenue</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">New York, New York
10154</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Attn: Head, U.S.
Asset Management</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Email: realestatenotices@blackstone.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">c/o Blackstone
Real Estate Advisors L.P.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">345 Park Avenue</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">New York, New York
10154</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Attn: General Counsel</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Email: realestatenotices@blackstone.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in">with copies thereof to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Simpson Thacher &amp; Bartlett LLP<BR>
425 Lexington Avenue<BR>
New York, New York 10017<BR>
Attn: &#9;Sasan Mehrara</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in">Benjamin Schaye<BR>
Email: smehrara@stblaw.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: 0.5in">ben.schaye@stblaw.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>if to the Shareholders, to</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">John D Baker II</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">200 W. Forsyth
Street, 7<SUP>th</SUP> Floor</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Jacksonville, Florida
32202</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in">with copies thereof to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Nelson Mullins
Riley &amp; Scarborough LLP</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Attn: Daniel B.
Nunn, Jr.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">50 N. Laura Street,
41<SUP>st</SUP> Floor</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">Jacksonville, Florida
32202</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Ropes &amp; Gray</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Attn: Geoffrey M. Mason</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in">Prudential Tower</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in">800 Boylston Street</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Boston, Massachusetts 02199</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">A notice shall be deemed to have been
given: (i) in the case of hand delivery, when delivered; (ii) in the case of registered or certified mail, when delivered or upon
the first attempted delivery on a Business Day; (iii) in the case of expedited prepaid delivery service, when delivered or upon
the first attempted delivery on a Business Day; and (iv) in the case of</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">email, upon the sender&rsquo;s receipt of confirmation (which
may be in the form of an automated electronic response) of delivery or upon the first attempted delivery on a Business Day.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.2<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Termination</U></B>. This Agreement shall terminate automatically and be of no further force or effect,
without any notice or other action by any Person, upon the first to occur of (i)&nbsp;the valid termination of the Purchase Agreement
in accordance with its terms, (ii)&nbsp;the Closing, and (iii)&nbsp;the mutual written consent of all of the parties hereto. Upon
termination of this Agreement, no party shall have any further obligations or liabilities under this Agreement; <I>provided</I>,
<I>however</I>, that solely in the event of a termination of this Agreement pursuant to clause (i)&nbsp;above, (x) nothing set
forth in this <U>Section&nbsp;5.2</U> shall relieve any party from liability for any willful and material breach of this Agreement
prior to termination hereof and (y)&nbsp;the provisions of this <U>Article V</U> shall survive any termination of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.3<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Amendments</U></B>. This Agreement may not be amended, modified, supplemented or terminated, nor may any
of the obligations of the parties hereto be waived, except by written agreement executed by the parties hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.4<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>No Waiver</U></B>. No waiver by a party of any failure or refusal by another party to comply with its obligations
hereunder shall be deemed a waiver of any other or subsequent failure or refusal to so comply.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.5<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Expenses</U></B>. All fees and expenses incurred in connection herewith and the transactions contemplated
hereby shall be paid by the party incurring such expenses, whether or not the transactions contemplated by the Purchase Agreement
are consummated.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.6<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Successors and Assigns; No Third-Party Beneficiaries</U></B>. The stipulations, terms, covenants and agreements
contained in this Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective permitted
successors and assigns (including any successor entity after a public offering of stock, merger, consolidation, purchase or other
similar transaction involving a party hereto) and nothing herein expressed or implied shall give or be construed to give to any
Person, other than the parties hereto and such assigns, any legal or equitable rights hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.7<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Assignment</U></B>. Neither this Agreement nor any of the rights, interests or obligations hereunder shall
be assigned, in whole or in part, by any of the parties (whether by operation of law or otherwise) without the prior written consent
of the other parties, except to the extent that such rights, interests or obligations are assigned pursuant to a Transfer expressly
permitted under <U>Section&nbsp;4.1</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.8<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Governing Law</U></B>. This Agreement shall be governed by, interpreted under, and construed and enforced
in accordance with, the laws of the State of Florida.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.9<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Waiver of Jury Trial</U></B>. Each party hereto hereby irrevocably waives trial by jury in any action,
proceeding or counterclaim brought by one party against another party on any matter arising out of or in any way connected with
this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.10<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Counterparts</U></B>. This Agreement may be executed in two or more counterparts and by facsimile signatures,
which taken together still constitute collectively one agreement. In</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">making proof of this Agreement it shall not be necessary
to produce or account for more than one such counterpart with each party&rsquo;s counterpart or facsimile signature.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.11<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Entire Agreement</U></B>. This Agreement and the Purchase Agreement contain all of the terms agreed upon
between the parties hereto with respect to the subject matter of this Agreement and the Purchase Agreement and supersede all prior
agreements and understandings, both written and oral, among the parties hereto with respect to the subject matter hereof. This
Agreement and the Voting Agreement fully and completely express the agreement of the parties hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.12<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Severability</U></B>. If any term or provision of this Agreement or the application thereof to any person
or circumstances shall, to any extent, be invalid or unenforceable, the remainder of this Agreement or the application of such
term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected
thereby, and each term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by Applicable
Law</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.13<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Specific Performance</U></B>. The parties agree that irreparable damage may occur to the Buyer if any provision
of this Agreement were not performed in accordance with the terms hereof, and, accordingly, that the Buyer shall be entitled to
seek an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms
and provisions hereof, in addition to any other remedy to which the Buyer is entitled at law or in equity. In any proceeding for
specific performance, the Shareholders will waive any requirement for the securing or posting of any bond in connection with the
remedies referred to in this <U>Section&nbsp;5.13</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.14<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Section Headings</U></B>. The headings of the various Sections of this Agreement have been inserted only
for purposes of convenience, are not part of this Agreement and shall not be deemed in any manner to modify, explain, expand or
restrict any of the provisions of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.15<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Construction</U></B>. The parties acknowledge that the parties and their counsel have reviewed and revised
this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of this Agreement or any amendments hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.16<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Interpretation</U></B>. The definitions of terms herein shall apply equally to the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and
neuter forms. The word &ldquo;shall&rdquo; shall be construed to have the same meaning as the word &ldquo;will.&rdquo; The words
&ldquo;include,&rdquo; &ldquo;includes&rdquo; and &ldquo;including&rdquo; shall be deemed to be followed by the phrase &ldquo;without
limitation.&rdquo; The word &ldquo;extent&rdquo; in the phrase &ldquo;to the extent&rdquo; shall mean the degree to which a subject
or other thing extends, and such phrase shall not mean simply &ldquo;if.&rdquo; Unless the context requires otherwise (i)&nbsp;any
definition of or reference to any contract, instrument or other document or any law herein shall be construed as referring to such
contract, instrument or other document or law as from time to time amended, supplemented or otherwise modified, (ii)&nbsp;any reference
herein to any Person shall be construed to include such Person&rsquo;s successors and assigns, (iii)&nbsp;the words &ldquo;herein,&rdquo;
&ldquo;hereof&rdquo; and &ldquo;hereunder,&rdquo; and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof and (iv)&nbsp;all references</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">herein to Articles and Sections shall be construed to refer
to Articles and Sections of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.17<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>Capacity as Shareholder</U></B>. Notwithstanding anything herein to the contrary, (i)&nbsp;each Shareholder
signs this Agreement solely in the Shareholder&rsquo;s capacity as a shareholder of the Parent, and not in any other capacity and
this Agreement shall not limit or otherwise affect the actions of the Shareholder or any affiliate, employee or designee of the
Shareholder or any of its affiliates in its capacity, if applicable, as an officer or director of the Parent or any other Person,
and (ii)&nbsp;nothing herein shall in any way restrict a director or officer of the Parent in the taking of any actions (or failure
to act) in his or her capacity as a director or officer of the Parent, or in the exercise of his or her fiduciary duties as a director
or officer of the Parent, or prevent or be construed to create any obligation on the part of any director or officer of the Parent
from taking any action in his or her capacity as such director or officer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #010000"><B>5.18<FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><U>No Ownership Interest</U></B>. Except as otherwise provided herein, nothing contained in this Agreement
shall be deemed to vest in Buyer any direct or indirect ownership or incidence of ownership of or with respect to the Subject Shares.
All rights, ownership and economic benefits of and relating to the Subject Shares shall remain vested in and belong to the Shareholders,
and Buyer shall not have any authority to manage, direct, restrict, regulate, govern or administer any of the policies or operations
of the Parent or exercise any power or authority to direct the Shareholders in the voting of any of the Subject Shares, except
as otherwise provided herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">[Signature Page Follows]</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The parties are executing this Agreement
on the date set forth in the introductory clause.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in"><B><U>BUYER</U>:</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in"><B>BRE FOXTROT PARENT LLC</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 216pt"></TD><TD STYLE="width: 27pt">By:</TD><TD><BR>
Name:<BR>
Title:</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><BR STYLE="clear: both">
</P>


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</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B><U>SHAREHOLDERS</U>:</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><B>EDWARD L.
BAKER</B>, in his individual capacity</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>EDWARD L. BAKER LIVING TRUST</B><BR>
<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>EDWARD L. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>EDWARD L. BAKER &amp; THOMPSON S.
BAKER II TRUST FBO EDWARD L. BAKER U/A CYNTHIA L. BAKER TRUST DATED 4/30/1965</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>EDWARD L. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>THOMPSON S. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES CONTINUE ON THE NEXT PAGE</B></P>


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</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B><U>SHAREHOLDERS</U>:</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><B>JOHN D. BAKER
II</B>, in his individual capacity</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>JOHN D. BAKER II LIVING TRUST</B><BR>
<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>JOHN D. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>JOHN D. BAKER II AND EDWARD L. BAKER
II TRUST FBO JOHN D. BAKER II U/A CYNTHIA L. BAKER TRUST DATED 4/30/1965</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>JOHN D. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>EDWARD L. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>ANNE D. BAKER REVOCABLE LIVING TRUST</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>ANNE D. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES CONTINUE ON THE NEXT PAGE</B></P>


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</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B><U>SHAREHOLDERS</U>:</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><B>EDWARD L.
BAKER II</B>, in his individual capacity</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><B>JOHN D. BAKER
III</B>, in his individual capacity</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>SUSAN A. BAKER REVOCABLE LIVING TRUST</B><BR>
<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>SUSAN A. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES CONTINUE ON THE NEXT PAGE</B></P>


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</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B><U>SHAREHOLDERS</U>:</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 243pt; text-align: justify; text-indent: -27pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>THOMPSON S. BAKER II</B>, in his
individual capacity</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>THOMPSON S. BAKER II REVOCABLE LIVING TRUST</B><BR></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;<BR></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>THOMPSON S. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>MARTHA F. BAKER REVOCABLE LIVING
TRUST</B><BR></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>MARTHA F. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>JULIA ELIZABETH BAKER TRUST</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>THOMPSON S. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>MARTHA F. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>MARY CAMERON BAKER TRUST</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>THOMPSON S. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>MARTHA F. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>SAMUEL MCDONALD BAKER TRUST</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>THOMPSON S. BAKER II</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>MARTHA F. BAKER</B>, as trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES CONTINUE ON THE NEXT PAGE</B></P>


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</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>TRUST FBO SARAH B. PORTER U/A CYNTHIA
L. BAKER TRUST DATED 4/30/1965 </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.25in">By:_____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: justify"><B>CYNTHIA P. OGDEN</B>, as trustee</P>


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</TD></TR></TABLE></DIV>
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>Schedule A</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid"><B>Name of Shareholder</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid"><B>Subject Shares<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[1]</SUP></FONT></B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Edward L. Baker</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4,121</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Edward L. Baker Living Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[2]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">69,220</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Edward L. Baker &amp; Thompson S. Baker II Trust FBO Edward L. Baker U/A Cynthia L. Baker Trust dated 4/30/1965<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[3]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">423,474 </TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">John D. Baker II</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">22,025</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">John D. Baker II Living Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[4]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">236,449 </TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">John D. Baker II and Edward L. Baker II Trust FBO John D. Baker II U/A Cynthia L. Baker Trust dated 4/30/1965<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[5]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1,113,474</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Anne D. Baker Revocable Living Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[6]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3,789</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Edward L. Baker II</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">97,299</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Susan A. Baker Revocable Living Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[7]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">97,297</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">John D. Baker III</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">97,300</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Thompson S. Baker II</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">39</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Thompson S. Baker II Revocable Living Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[8]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">155,600</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Martha F. Baker Revocable Living Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[9]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2,199</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Julia Elizabeth Baker Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[10]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2,199</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Mary Cameron Baker Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[11]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2,199</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Samuel McDonald Baker Trust<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[12]</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2,199</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Trust FBO Sarah B. Porter U/A Cynthia L. Baker Trust dated 4/30/1965<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[13]</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">913,911</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>TOTAL</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3,242,794</TD></TR>
</TABLE>
<P STYLE="font: bold 5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>


<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[1]</SUP></FONT>
With respect to the individuals listed on Schedule A, beneficial ownership excludes those shares of Common Stock that are otherwise
accounted for on this Schedule A by virtue of being held by a trust or another individual listed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[2]</SUP></FONT>
Edward L. Baker is the sole trustee and beneficiary and has sole voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[3]</SUP></FONT>
Edward L. Baker and Thompson S. Baker II serve as co-trustees and have shared voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[4]</SUP></FONT>
John D. Baker II is the sole trustee and beneficiary and has sole voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[5]</SUP></FONT>
John D. Baker II and Edward L. Baker II serve as co-trustees and have shared voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[6]</SUP></FONT>
Anne D. Baker is the sole trustee and beneficiary and has sole voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[7]</SUP></FONT>
Susan A. Baker is the sole trustee and beneficiary and has sole voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[8]</SUP></FONT>
Thompson S. Baker II is the sole trustee and beneficiary and has sole voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[9]</SUP></FONT>
Martha F. Baker is the sole trustee and beneficiary and has sole voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[10]</SUP></FONT>
Thompson S. Baker II and Martha F. Baker serve as co-trustees and have shared voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[11]</SUP></FONT>
Thompson S. Baker II and Martha F. Baker serve as co-trustees and have shared voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[12]</SUP></FONT>
Thompson S. Baker II and Martha F. Baker serve as co-trustees and have shared voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[13]</SUP></FONT>
Cynthia P. Ogden serves as sole trustee and has sole voting power.</P>


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<P STYLE="font: 36pt Impact, Helvetica, Sans-Serif; margin: 0 13.5pt 0 0; text-align: left"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 73px; width: 73px">
FRP HOLDINGS, INC./NEWS</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 13.5pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 13.5pt 0 0">Contact: &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John D. Milton, Jr.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 13.5pt 0 0; border-bottom: Black 3pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer&#9;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904/858-9100</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>FRP HOLDINGS, INC. (NASDAQ-FRPH)
ANNOUNCES CONTRACT TO SELL ITS INDUSTRIAL WAREHOUSE PORTFOLIO TO BLACKSTONE FOR $358.9 MILLION.</B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>FRP Holdings, Inc. (NASDAQ-FRPH)
Jacksonville, Florida; March 22, 2018</B> &ndash; FRP Holdings, Inc. (the &ldquo;Company&rdquo; ) today announced that it has entered
into a contract to sell its 41 industrial warehouses and two adjacent lots to an affiliate of Blackstone Real Estate Partners VIII,
L.P. (&ldquo;Blackstone&rdquo;), for a total purchase price of $358.9 million. The sale is subject to customary
closing conditions, including approval by the Company&rsquo;s shareholders. The transaction is expected to close in the second
or third quarter of 2018. Details of the transaction and the conditions to its closing are described in the Company&rsquo;s Current
Report on Form 8-K filed on this date with the Securities and Exchange Commission (&ldquo;SEC&rdquo;).</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Commenting on the transaction,
John D. Baker II, Executive Chairman and CEO of the Company stated: &ldquo;The reduction in corporate income tax rates in a low
cap rate environment created too good an opportunity to forgo.
We look forward to redeploying these proceeds in our other business segments including Anacostia, Land Development, and Mining/Royalties
segments where more recently we have enjoyed more favorable returns.&rdquo;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Blackstone is a global leader in
real estate investing. Blackstone&rsquo;s real estate business was founded in 1991 and has approximately $115 billion in investor
capital under management. Blackstone&rsquo;s real estate portfolio includes hotel, office, retail, industrial and residential properties
in the US, Europe, Asia and Latin America. Major holdings include Hilton Worldwide, Invitation Homes (single family homes), Logicor
(pan-European logistics) and prime office buildings in the world&rsquo;s major cities. Blackstone real estate also operates one
of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust.</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Eastdil Secured, L.L.C. serves
as the Company&rsquo;s exclusive broker in connection with the sale, and Houlihan Lokey Capital, Inc. served as financial advisor
to the Company. Nelson Mullins Riley &amp; Scarborough LLP serves as legal counsel to the Company, and Simpson Thacher &amp; Bartlett
LLP serves as counsel to Blackstone on the transaction.</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>Forward Looking Statements</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.2pt 0 0; text-align: justify">Certain statements in this press
release may constitute &ldquo;forward-looking statements&rdquo; within the meaning of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements regarding
the timing and likelihood of the planned sale of the Company&rsquo;s industrial warehouse portfolio, the benefits and financial
performance expected to be realized by the on-going business following the planned sale, conditions precedent to consummating the
proposed sale, and other statements that are not purely statements of historical fact. These forward-looking statements are made
on the basis of the current beliefs, expectations and assumptions of the management of the Company and are subject to significant
risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking
statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise these statements,
whether as a result of new information, future events or otherwise, except as may be required by law. These forward-looking statements
involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in
these forward-looking statements. For example, the consummation of the proposed sale of the industrial warehouse portfolio is subject
to a number of closing conditions and the failure to satisfy any one of these conditions could result in the transaction not closing,
in which case none of the expected future benefits of the transaction would occur. Other risks and uncertainties that could affect
the forward-looking statements set forth in this press release include: the failure of the Company&rsquo;s shareholders to approve
the proposed sale of the industrial warehouse portfolio; the challenges and costs of closing and achieving any anticipated synergies
or benefits from the proposed sale; the distraction of management or other diversion of valuable resources within each company
caused by the proposed transaction; the ability to retain key employees during the pendency of the proposed transaction; and factors
generally affecting the business, operations, and financial condition of the Company.&nbsp;Certain of these and other risks and
uncertainties are described more fully in the Company&rsquo;s most recently filed SEC documents, including the Company&rsquo;s
Annual Report on Form 10-K for the year ended December&nbsp;31, 2017, under the heading &ldquo;Risk Factors.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.2pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.2pt 0 0; text-align: justify"><B>Additional Information and Where
to Find It</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The shareholders of the Company
will be asked to approve the sale of these properties to Blackstone. In order to solicit this approval, the Company will file documents
with the SEC, including a definitive proxy statement relating to the proposed sale. The definitive proxy statement will also be
mailed to the Company&rsquo;s shareholders in connection with the proposed sale. Investors and security holders are urged to read
these documents when they become available because they will obtain important information about the Company and the proposed sale.
Investors may obtain free copies of these documents when they are filed with the SEC at the SEC&rsquo;s website at http://www.sec.gov
or by directing a request to FRP Holdings, Inc., Attn: Corporate Secretary, 200 W. Forsyth Street, 7<SUP>th</SUP> Floor, Jacksonville,
Florida 32202.</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Company and its directors and
executive officers may be deemed participants in the solicitation of proxies in connection with the proposed sale. Information
regarding the interests</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">of these directors and executive
officers in the proposed transaction will be included in the definitive proxy statement when it is filed with the SEC. Additional
information regarding the directors and executive officers of the Company is also included in the Company&rsquo;s Annual Report
on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on March 16, 2018, and the definitive proxy statement
relating to the Company&rsquo;s 2017 Annual Meeting of Shareholders, which was filed with the SEC on December 22, 2016. These documents
are available free of charge at the SEC&rsquo;s website at http://www.sec.gov and from the Corporate Secretary of the Company as
described above.</P>


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